| Quarterly Financial Information |
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Quarter Ended |
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August 31, |
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November 30, |
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February 28, |
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May 31, |
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Year ended May 31, 2018:
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Operating expenses
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$ |
(9,807,001 |
) |
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$ |
(10,775,051 |
) |
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$ |
(14,140,507 |
) |
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$ |
(11,196,754 |
) |
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Other income (expense)
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(361,879 |
) |
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830,022 |
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(740,404 |
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1,966,816 |
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Interest expense
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(1,459,393 |
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(1,002,656 |
) |
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(3,069,189 |
) |
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(393,685 |
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Net (loss)
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(11,628,273 |
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(10,947,685 |
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(17,950,100 |
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(9,623,623 |
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Basic and diluted loss per share
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$ |
(0.08 |
) |
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$ |
(0.07 |
) |
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$ |
(0.10 |
) |
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$ |
(0.04 |
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Year ended May 31, 2017:
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Operating expenses
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$ |
(5,358,120 |
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$ |
(6,156,117 |
) |
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$ |
(8,016,917 |
) |
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$ |
(7,799,580 |
) |
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Other income (expense)
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3,735 |
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1,229,114 |
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(23,078 |
) |
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969,929 |
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Interest expense
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— |
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(540,330 |
) |
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(72,437 |
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— |
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Net (loss)
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(5,354,385 |
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(5,467,333 |
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(8,112,432 |
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(6,829,651 |
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Basic and diluted loss per share
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$ |
(0.04 |
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$ |
(0.04 |
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$ |
(0.06 |
) |
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$ |
(0.05 |
) |
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Year ended May 31, 2016:
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Operating expenses
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$ |
(6,657,481 |
) |
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$ |
(2,893,779 |
) |
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$ |
(5,049,037 |
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$ |
(6,575,214 |
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Other income (expense)
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62,686 |
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211 |
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2,202 |
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78,045 |
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Interest expense
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(2,300,220 |
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(2,371,025 |
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— |
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— |
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Net (loss)
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(8,895,015 |
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(5,264,593 |
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(5,046,835 |
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(6,497,169 |
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Basic and diluted loss per share
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$ |
(0.12 |
) |
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$ |
(0.06 |
) |
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$ |
(0.05 |
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$ |
(0.04 |
) |
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