Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data (Unaudited)

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Quarterly Financial Data (Unaudited)
12 Months Ended
Jul. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)

Note 11—Quarterly Financial Data (Unaudited)

 

The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for fiscal 2016 and 2015 are as follows:

 

    Year ended July 31, 2016  
    1st     2nd     3rd     4th  
    Quarter     Quarter     Quarter     Quarter  
Selected quarterly financial data:                                
Revenue   $     $     $     $  
Loss from operations     (7,035,219 )     (7,037,720 )     (6,251,119 )     (6,561,994 )
Net loss   $ (7,037,391 )   $ (7,037,720 )   $ (6,251,409 )   $ (6,561,994 )
Net loss applicable to common stockholders   $ (7,037,391 )   $ (7,037,720 )   $ (6,251,409 )   $ (6,561,994 )
Basic and diluted net loss per share   $ 0.47     $ 0.42     $ 0.37     $ 0.39  

 

    Year ended July 31, 2015  
    1st     2nd     3rd     4th  
    Quarter     Quarter     Quarter     Quarter  
Selected quarterly financial data:                                
Revenue   $     $     $     $  
Loss from operations     (4,060,206 )     (4,618,237 )     (5,986,286 )     (6,576,413 )
Net loss   $ (4,061,116 )   $ (4,618,237 )   $ (5,987,345 )   $ (6,576,413 )
Net loss applicable to common stockholders   $ (4,061,116 )   $ (4,618,237 )   $ (5,987,345 )   $ (6,576,413 )
Basic and diluted net loss per share (1) (2)   $ 0.33     $ 0.38     $ 0.48     $ 0.48  

 

 

(1) Loss per share is computed independently for each of the quarters presented.

Therefore, the sum of the quarterly net loss per share will not necessarily equal the total for the year.

(2) Recast to account for the 1-for-20 reverse stock split effected May 2015.