2019 Q1 Form 10-K Financial Statement
#000143774919004223 Filed on March 06, 2019
Income Statement
Concept | 2019 Q1 | 2017 Q4 | 2017 |
---|---|---|---|
Revenue | $1.840M | $1.910M | $9.934M |
YoY Change | 1.71% | -59.19% | -48.29% |
Cost Of Revenue | $1.467M | $1.730M | $13.00M |
YoY Change | 3.67% | -53.24% | -10.02% |
Gross Profit | $373.0K | $180.0K | -$3.068M |
YoY Change | -5.33% | -81.63% | -164.32% |
Gross Profit Margin | 20.27% | 9.42% | -30.88% |
Selling, General & Admin | $3.986M | $4.690M | $25.12M |
YoY Change | -11.42% | -47.36% | -37.12% |
% of Gross Profit | 1068.63% | 2605.56% | |
Research & Development | $1.414M | $1.980M | $11.32M |
YoY Change | -20.43% | -50.87% | -27.16% |
% of Gross Profit | 379.09% | 1100.0% | |
Depreciation & Amortization | $200.0K | $320.0K | $1.476M |
YoY Change | -27.8% | -21.95% | -2.25% |
% of Gross Profit | 53.62% | 177.78% | |
Operating Expenses | $5.400M | $6.670M | $39.48M |
YoY Change | -13.97% | -48.45% | -28.83% |
Operating Profit | -$5.027M | -$6.490M | -$42.55M |
YoY Change | -14.55% | -45.74% | -16.09% |
Interest Expense | $350.0K | -$1.560M | $6.299M |
YoY Change | -92.51% | 1.96% | -216.43% |
% of Operating Profit | |||
Other Income/Expense, Net | $240.0K | $11.00K | |
YoY Change | -0.41% | ||
Pretax Income | -$5.060M | -$10.15M | -$48.73M |
YoY Change | -50.78% | -24.81% | -13.18% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$5.055M | -$10.15M | -$48.73M |
YoY Change | -50.83% | -24.81% | -13.18% |
Net Earnings / Revenue | -274.73% | -531.41% | -490.56% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$1.191M | -$126.9M | -$696.1M |
COMMON SHARES | |||
Basic Shares Outstanding | 42.30M | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2019 Q1 | 2017 Q4 | 2017 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $16.71M | $5.390M | $5.390M |
YoY Change | 15.88% | -85.07% | -85.07% |
Cash & Equivalents | $16.71M | $5.389M | $5.390M |
Short-Term Investments | |||
Other Short-Term Assets | $2.340M | $640.0K | $640.0K |
YoY Change | 101.72% | -3.03% | -3.03% |
Inventory | $3.955M | $4.295M | $4.300M |
Prepaid Expenses | |||
Receivables | $1.112M | $1.127M | $1.130M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $24.11M | $11.45M | $11.45M |
YoY Change | 15.15% | -76.53% | -76.53% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $2.140M | $2.950M | $2.950M |
YoY Change | -11.93% | -35.31% | -35.31% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $687.0K | $690.0K | |
YoY Change | 227.14% | 228.57% | |
Total Long-Term Assets | $2.140M | $3.637M | $3.640M |
YoY Change | -29.14% | -23.75% | -23.69% |
TOTAL ASSETS | |||
Total Short-Term Assets | $24.11M | $11.45M | $11.45M |
Total Long-Term Assets | $2.140M | $3.637M | $3.640M |
Total Assets | $26.25M | $15.09M | $15.09M |
YoY Change | 9.57% | -71.83% | -71.83% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $969.0K | $1.273M | $1.270M |
YoY Change | -55.14% | -20.93% | -21.12% |
Accrued Expenses | $906.0K | $3.597M | $4.410M |
YoY Change | -51.29% | -38.72% | -24.23% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $7.840M | $44.74M | $44.74M |
YoY Change | 4.26% | 8.36% | 8.36% |
Total Short-Term Liabilities | $12.94M | $50.48M | $50.48M |
YoY Change | 8.25% | 3.5% | 3.51% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $38.00K | $301.0K | $300.0K |
YoY Change | -65.45% | -45.27% | -45.45% |
Total Long-Term Liabilities | $38.00K | $301.0K | $300.0K |
YoY Change | -65.45% | -45.27% | -45.45% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $12.94M | $50.48M | $50.48M |
Total Long-Term Liabilities | $38.00K | $301.0K | $300.0K |
Total Liabilities | $12.97M | $50.78M | $50.78M |
YoY Change | 7.58% | 2.96% | 2.96% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$333.9M | -$301.3M | |
YoY Change | |||
Common Stock | $347.2M | $265.6M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $13.28M | -$35.69M | -$35.69M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $26.25M | $15.09M | $15.09M |
YoY Change | 9.57% | -71.83% | -71.83% |
Cashflow Statement
Concept | 2019 Q1 | 2017 Q4 | 2017 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$5.055M | -$10.15M | -$48.73M |
YoY Change | -50.83% | -24.81% | -13.18% |
Depreciation, Depletion And Amortization | $200.0K | $320.0K | $1.476M |
YoY Change | -27.8% | -21.95% | -2.25% |
Cash From Operating Activities | -$5.996M | -$5.180M | -$34.48M |
YoY Change | -12.81% | -52.04% | -35.04% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $83.00K | $0.00 | $45.00K |
YoY Change | -100.0% | -104.64% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $20.00K | $0.00 | $0.00 |
YoY Change | -60.0% | ||
Cash From Investing Activities | -$65.00K | $0.00 | -$41.00K |
YoY Change | -241.3% | -100.0% | -95.77% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $246.0K | ||
YoY Change | -99.34% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 6.358M | 400.0K | 3.810M |
YoY Change | -59.91% | -89.25% | -91.91% |
NET CHANGE | |||
Cash From Operating Activities | -5.996M | -5.180M | -34.48M |
Cash From Investing Activities | -65.00K | 0.000 | -41.00K |
Cash From Financing Activities | 6.358M | 400.0K | 3.810M |
Net Change In Cash | 297.0K | -4.780M | -30.71M |
YoY Change | -96.71% | -33.43% | 341.19% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$5.996M | -$5.180M | -$34.48M |
Capital Expenditures | $83.00K | $0.00 | $45.00K |
Free Cash Flow | -$6.079M | -$5.180M | -$34.52M |
YoY Change | -11.6% | -51.59% | -33.74% |
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CY2018Q4 | us-gaap |
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CY2017Q4 | us-gaap |
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100000000 | |
CY2018Q4 | us-gaap |
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CY2017Q4 | us-gaap |
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CY2018Q4 | us-gaap |
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34921999 | |
CY2017Q4 | us-gaap |
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833597 | |
CY2018Q4 | us-gaap |
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CY2017Q4 | us-gaap |
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CY2018 | us-gaap |
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6531000 | |
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42794000 | |
CY2017 | us-gaap |
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CY2018Q4 | us-gaap |
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CY2017Q4 | us-gaap |
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CY2018Q4 | us-gaap |
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78082000 | |
CY2017Q4 | us-gaap |
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CY2018Q4 | us-gaap |
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3655000 | |
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4317000 | |
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78082000 | |
CY2017Q4 | us-gaap |
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CY2017 | us-gaap |
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3009000 | |
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4295000 | |
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CY2017 | us-gaap |
Income Tax Reconciliation Tax Credits Research
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229000 | |
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92000 | |
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1181000 | |
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475000 | |
CY2018 | us-gaap |
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-5000 | |
CY2017 | us-gaap |
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-22000 | |
CY2018 | us-gaap |
Interest Expense
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5692000 | |
CY2017 | us-gaap |
Interest Expense
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6299000 | |
CY2018 | us-gaap |
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60000 | |
CY2017 | us-gaap |
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3942000 | |
CY2018Q4 | us-gaap |
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CY2017Q4 | us-gaap |
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364000 | |
CY2018Q4 | us-gaap |
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2102000 | |
CY2018Q4 | us-gaap |
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1162000 | |
CY2017Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
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1286000 | |
CY2018Q4 | us-gaap |
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158000 | |
CY2017Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
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CY2018 | us-gaap |
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914000 | |
CY2017 | us-gaap |
Inventory Write Down
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5500000 | |
CY2018 | us-gaap |
Investment Income Interest
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214000 | |
CY2017 | us-gaap |
Investment Income Interest
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108000 | |
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106000 | |
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50778000 | |
CY2018Q4 | us-gaap |
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23699000 | |
CY2017Q4 | us-gaap |
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15088000 | |
CY2018Q4 | us-gaap |
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14198000 | |
CY2017Q4 | us-gaap |
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50477000 | |
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CY2017Q4 | us-gaap |
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CY2017 | us-gaap |
Litigation Settlement Expense
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CY2018Q4 | us-gaap |
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CY2018Q4 | us-gaap |
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CY2018Q4 | us-gaap |
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div> Organization</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Organization, Nature of Business</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Avinger, Inc. (the “Company”), a Delaware corporation, was incorporated in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2007.</div> The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral artery disease (“PAD”). Patients with PAD have a build-up of plaque in the arteries that supply blood to areas away from the heart, particularly the pelvis and legs. The Company manufactures and sells a suite of products in the United States (“U.S.”) and in select international markets. The Company has developed its Lumivascular platform, which integrates optical coherence tomography (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> “OCT”) </div>visualization with interventional catheters and is the industry’s only system that provides real-time intravascular imaging during the treatment portion of PAD procedures. The Company’s Lumivascular platform consists of a capital component, Lightbox, as well as a variety of disposable catheter products. The Company’s current products include its non-imaging catheters, Wildcat and Kittycat, as well as its Lumivascular platform products, Ocelot, Ocelot PIXL and Ocelot MVRX, all of which are designed to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (“CTO”). In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company received <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">510</div>(k) clearance from the U.S. Food and Drug Administration (“FDA”) for commercialization of Pantheris, the Company’s image-guided atherectomy system, designed to allow physicians to precisely remove arterial plaque in PAD patients. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2018, </div>the Company also received <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">510</div>(K) clearance from the FDA for its next-generation of Pantheris. The Company submitted a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">510</div>(k) filing in respect of Pantheris SV, a lower profile Pantheris, in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2018 </div>and received CE Marking approval for Pantheris SV in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2018. </div>The Company has sales in the U.S. and select international markets. The Company is located in Redwood City, California.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Liquidity Matters</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,</div> Presentation of Financial Statements - Going Concern (Subtopic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">205</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40</div>) requires the Company to make certain disclosures if it concludes that there is substantial doubt about the entity’s ability to continue as a going concern within <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year from the date of the issuance of these financial statements. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. In the course of its activities, the Company has incurred losses and negative cash flows from operations since its inception. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> the Company had an accumulated deficit of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$328.9</div> million. The Company expects to incur losses for the foreseeable future. The Company believes that its cash and cash equivalents of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$16.4</div> million at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> and expected revenues and funds from operations will be sufficient to allow the Company to fund its current operations through at least the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">fourth</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019.</div> Even though we received net proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$10.2</div> million from the sale of our Series C Preferred Stock and common stock in our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 2018 </div>offering, net proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$15.5</div> million from the sale of our Series B preferred stock and warrants in our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2018 </div>offering, and net proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.0</div> million from the sale of common stock and warrants in our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2018 </div>offering, the Company will need to raise additional funds through future equity or debt financings within the next <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">twelve</div> months to meet its operational needs and capital requirements for product development, clinical trials and commercialization and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>subsequently require additional fundraising. The Company can provide <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> assurance that it will be successful in raising funds pursuant to additional equity or debt financings or that such funds will be raised at prices that do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> create substantial dilution for our existing stockholders. Given the recent decline in the Company’s stock price, any financing that we undertake in the next <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">twelve</div> months could cause substantial dilution to our existing stockholders, there can be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> assurance that the Company will be successful in acquiring additional funding at levels sufficient to fund its operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. If the Company is unable to raise additional capital in sufficient amounts or on terms acceptable to it, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have to significantly reduce its operations or delay, scale back or discontinue the development of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more of its products. The financial statements do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> include any adjustments that might result from the outcome of this uncertainty. The Company’s ultimate success will largely depend on its continued development of innovative medical technologies, its ability to successfully commercialize its products and its ability to raise significant additional funding. Additionally, due to the substantial doubt about the Company’s ability to continue operating as a going concern and the material adverse change clause in the Loan Agreement with CRG, the entire amount of borrowings at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> has been classified as current in these financial statements. CRG has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> invoked the material adverse change clause.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"> </div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Public Offerings</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company filed a universal shelf registration statement to offer up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$150,000,000</div> of its securities and entered into an “at-the-market” program pursuant to a Sales Agreement with Cowen and Company (“Cowen”), through which it <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may, </div>from time to time, issue and sell shares of common stock having an aggregate offering value of up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$50,000,000.</div> The shelf registration statement also covers the resale of the shares sold to CRG in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div> The registration statement was declared effective by the SEC on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> During the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Company sold <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">189,684</div> shares of common stock through the “at-the-market” program at an average price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$17.68</div> per common share and raised net proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3,187,000,</div> after payment of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$101,000</div> in commissions and fees to Cowen. During the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company sold <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,374</div> shares, respectively, of common stock through the “at-the-market” program at an average price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$194.74</div> per common share and raised net proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,171,000,</div> after payment of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$160,000</div> in commissions and fees to Cowen. Due to the SEC’s “baby shelf rules,” which prohibit companies with a public float of less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$75</div> million from issuing securities under a shelf registration statement in excess of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> of such company’s public float in a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">twelve</div>-month period, the Company is unable to issue more shares in its “at-the-market” program at this time.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> we completed a public offering of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,979</div> shares of Series B preferred stock and warrants to purchase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,979,000</div> shares of common stock. As a result, we received net proceeds of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$15.5</div> million after underwriting discounts, commissions, legal and accounting fees. Each share of Series B preferred stock is accompanied by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> warrant that expires on the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">seventh</div> anniversary of the date of issuance to purchase up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">500</div> shares of common stock (the “Series <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> warrants”) and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> warrant that expires on the earlier of (i) the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">seventh</div> anniversary of the date of issuance or (ii) the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60th</div> calendar day following the receipt and announcement of FDA clearance of our Pantheris below-the-knee device (or the same or similar product with a different name) to purchase up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">500</div> shares of common stock; provided, however, if at any time during such <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60</div>-day period the volume weighted average price for any trading day is less than the then effective exercise price, the termination date shall be extended to the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">seven</div> year anniversary of the initial exercise date (the “Series <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> warrants”). In addition, pursuant to the Series A Purchase Agreement, we issued to CRG <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,800</div> shares of Series A preferred stock at the closing of the Series B Offering. The Series A preferred stock was issued in exchange for the conversion of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$38.0</div> million of the outstanding principal amount of their senior secured term loan (plus the back-end fee and prepayment premium applicable thereto), totaling approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$41.8</div> million. The Series A preferred stock is initially convertible into <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,900,000</div> shares of common stock subject to certain limitations contained in the Series A Purchase Agreement.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> we entered into a securities purchase agreement with certain investors pursuant to which we agreed to sell and issue, in a registered direct offering, an aggregate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,166,180</div> shares of our common stock at an offering price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.6425</div> per share. In a concurrent private placement, or the Private Placement, we agreed to issue to these investors warrants exercisable for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> share of our common stock for each <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> shares purchased in the registered direct offering, which equals an aggregate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,083,091</div> shares of common stock. The closing of such registered direct offering and the concurrent Private Placement occurred on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> in connection with which we received net proceeds of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.0</div> million after deducting placement agent fees and other expenses payable by us and the conversion price of the outstanding shares of Series B preferred stock, issued in our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2018 </div>offering, was reduced to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.58</div> per share as a result. The warrants have an exercise price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.58</div> per share of our common stock and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be exercised from time to time beginning on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> and expire on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2021.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 1, 2018, </div>we completed a public offering of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,285,000</div><div style="display: inline; text-decoration: underline;"> </div>shares of common stock and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,586</div> shares of Series C convertible preferred stock (the “Series C preferred stock”). As a result, we received net proceeds of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$10.2</div> million after underwriting discounts, commissions, legal and accounting fees. Upon any dissolution, liquidation or winding up, whether voluntary or involuntary, holders of Series C preferred stock will be entitled to receive distributions out of our assets, whether capital or surplus, of an amount equal to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.001</div> per share of Series C preferred stock before any distributions shall be made on the common stock but after distributions shall be made on any outstanding Series A preferred stock and any of our existing or future indebtedness. The Series C preferred stock has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> voting rights.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"> </div></div> | |
CY2018 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
29491000 | |
CY2017 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3810000 | |
CY2018 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4000 | |
CY2017 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-41000 | |
CY2018 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-18466000 | |
CY2017 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-34476000 | |
CY2018 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27558000 | |
CY2017 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-48732000 | |
CY2018 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-35692000 | |
CY2017 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-48732000 | |
CY2018 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
0 | |
CY2018 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | |
CY2018 | us-gaap |
Operating Expenses
OperatingExpenses
|
23451000 | |
CY2017 | us-gaap |
Operating Expenses
OperatingExpenses
|
39484000 | |
CY2018 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-22067000 | |
CY2017 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-42552000 | |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
899000 | |
CY2018 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
1015000 | |
CY2018 | us-gaap |
Payments Of Debt Restructuring Costs
PaymentsOfDebtRestructuringCosts
|
155000 | |
CY2017 | us-gaap |
Payments Of Debt Restructuring Costs
PaymentsOfDebtRestructuringCosts
|
||
CY2018 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
32000 | |
CY2017 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
45000 | |
CY2018 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
2918000 | |
CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
25506000 | |
CY2017 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
||
CY2018Q4 | us-gaap |
Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
|
44718000 | |
CY2017Q4 | us-gaap |
Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
|
0 | |
CY2018Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2017Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2018Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
CY2018Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
45671 | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2018Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
45671 | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2018Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2017Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2018Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
635000 | |
CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
640000 | |
CY2018 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
314000 | |
CY2017 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
246000 | |
CY2018 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
28000 | |
CY2017 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
4000 | |
CY2018 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
581000 | |
CY2017 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
||
CY2017Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
390000 | |
CY2016Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
509000 | |
CY2018Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
272000 | |
CY2018Q4 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
272000 | |
CY2017Q4 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
390000 | |
CY2018 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
333000 | |
CY2017 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
306000 | |
CY2018 | us-gaap |
Profit Loss
ProfitLoss
|
-27558000 | |
CY2017 | us-gaap |
Profit Loss
ProfitLoss
|
-48732000 | |
CY2018Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
5227000 | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
8468000 | |
CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2078000 | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2950000 | |
CY2018 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
133000 | |
CY2017 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
125000 | |
CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
2594000 | |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
291.73 | |
CY2018 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
||
CY2017 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
25000 | |
CY2018 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
6009000 | |
CY2017 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
11319000 | |
CY2018 | us-gaap |
Restructuring Charges
RestructuringCharges
|
||
CY2017 | us-gaap |
Restructuring Charges
RestructuringCharges
|
1285000 | |
CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-328885000 | |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-301327000 | |
CY2018 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
7915000 | |
CY2017 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
9934000 | |
CY2018Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
435000 | |
CY2017Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
||
CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
31000000 | |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
43305000 | |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
246.97 | |
CY2018Q4 | us-gaap |
Secured Debt Current
SecuredDebtCurrent
|
7486000 | |
CY2017Q4 | us-gaap |
Secured Debt Current
SecuredDebtCurrent
|
44744000 | |
CY2018 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
17442000 | |
CY2017 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
25120000 | |
CY2018 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3080000 | |
CY2017 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4966000 | |
CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P4Y | |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
76645000 | |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
79545000 | |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
170.73 | |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
79545000 | |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
170.73 | |
CY2018 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
||
CY2018 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
272.58 | |
CY2018 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
349.37 | |
CY2018 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.67 | |
CY2018Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
|
43305 | |
CY2018Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
79545 | |
CY2018Q4 | us-gaap |
Share Price
SharePrice
|
0.30 | |
CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
|
P10Y | |
CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y149D | |
CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y251D | |
CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P7Y251D | |
CY2018Q4 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
|
246.97 | |
CY2018Q4 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
|
247.03 | |
CY2018 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
|
P7Y251D | |
CY2018 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | |
CY2018 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
21000 | |
CY2018 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
106000 | |
CY2017 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3589000 | |
CY2017 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
246000 | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4241000 | |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-35690000 | |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9460000 | |
CY2017Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1747000 | |
CY2016Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1536000 | |
CY2018Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1760000 | |
CY2018 | us-gaap |
Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
|
16000 | |
CY2017 | us-gaap |
Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
|
||
CY2018Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2017Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2018 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
0 | |
CY2017 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
0 | |
CY2018 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
|
29000 | |
CY2017 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
|
211000 | |
CY2018 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Management uses significant judgment when making estimates related to its common stock valuation and related stock-based compensation, the valuation of the common stock warrants, the valuation of compound embedded derivatives, provisions for doubtful accounts receivable and excess and obsolete inventories, clinical trial accruals, and its reserves for sales returns and warranty costs. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> readily apparent from other sources. Although these estimates are based on the Company’s knowledge of current events and actions it <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>undertake in the future, actual results <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>ultimately materially differ from these estimates and assumptions.</div></div></div></div></div></div></div></div></div></div></div> | |
CY2018 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
7600000 | |
CY2017 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-20900000 | |
CY2018 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
10687000 | |
CY2017 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
652000 | |
CY2018 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
0 | |
us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
0 |