2015 Q2 Form 10-K Financial Statement
#000114420415059224 Filed on October 13, 2015
Income Statement
Concept | 2015 Q2 | 2014 Q2 | 2014 |
---|---|---|---|
Revenue | $320.0K | $210.0K | $205.0K |
YoY Change | 52.38% | -66.13% | -79.64% |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $1.450M | $1.950M | $3.840M |
YoY Change | -25.64% | 105.26% | -1.79% |
% of Gross Profit | |||
Research & Development | $760.0K | -$590.0K | $1.898M |
YoY Change | -228.81% | -160.82% | -44.68% |
% of Gross Profit | |||
Depreciation & Amortization | $100.0K | $90.00K | $3.000K |
YoY Change | 11.11% | 0.0% | 50.0% |
% of Gross Profit | |||
Operating Expenses | $2.210M | $1.360M | $4.045M |
YoY Change | 62.5% | -29.17% | -47.29% |
Operating Profit | -$3.840M | ||
YoY Change | -42.4% | ||
Interest Expense | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
% of Operating Profit | |||
Other Income/Expense, Net | $10.00K | $10.00K | $174.0K |
YoY Change | 0.0% | 0.0% | -62.9% |
Pretax Income | -$1.890M | -$1.140M | -$3.670M |
YoY Change | 65.79% | -13.64% | -40.81% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$1.890M | -$1.140M | -$3.666M |
YoY Change | 65.79% | -13.64% | -40.85% |
Net Earnings / Revenue | -590.63% | -542.86% | -1788.29% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$248.0K | -$173.8K | -$582.5K |
COMMON SHARES | |||
Basic Shares Outstanding | 76.76M shares | 65.64M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2015 Q2 | 2014 Q2 | 2014 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $9.490M | $3.590M | $3.590M |
YoY Change | 164.35% | -18.59% | -18.59% |
Cash & Equivalents | $9.494M | $3.590M | |
Short-Term Investments | |||
Other Short-Term Assets | $17.00K | $8.000K | $120.0K |
YoY Change | 112.5% | -74.19% | -90.08% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $445.0K | $205.0K | $210.0K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $10.12M | $3.913M | $3.910M |
YoY Change | 158.65% | -41.02% | -41.11% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $13.00K | $6.000K | $10.00K |
YoY Change | 116.67% | 0.0% | 0.0% |
Goodwill | |||
YoY Change | |||
Intangibles | $2.360M | $2.575M | |
YoY Change | -8.35% | -5.09% | |
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $2.373M | $2.581M | $2.580M |
YoY Change | -8.06% | -5.08% | -4.8% |
TOTAL ASSETS | |||
Total Short-Term Assets | $10.12M | $3.913M | $3.910M |
Total Long-Term Assets | $2.373M | $2.581M | $2.580M |
Total Assets | $12.49M | $6.494M | $6.490M |
YoY Change | 92.39% | -30.58% | -30.59% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.104M | $297.0K | $300.0K |
YoY Change | 271.72% | -87.63% | -87.5% |
Accrued Expenses | $159.0K | $98.00K | $100.0K |
YoY Change | 62.24% | -94.8% | -94.71% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.263M | $395.0K | $400.0K |
YoY Change | 219.75% | -90.78% | -90.68% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.263M | $395.0K | $400.0K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $1.263M | $395.0K | $400.0K |
YoY Change | 219.75% | -90.79% | -90.68% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$47.83M | -$41.20M | |
YoY Change | 16.08% | 9.77% | |
Common Stock | $59.08M | $47.30M | |
YoY Change | 24.91% | 11.02% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $11.23M | $6.099M | $6.100M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $12.49M | $6.494M | $6.490M |
YoY Change | 92.39% | -30.58% | -30.59% |
Cashflow Statement
Concept | 2015 Q2 | 2014 Q2 | 2014 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.890M | -$1.140M | -$3.666M |
YoY Change | 65.79% | -13.64% | -40.85% |
Depreciation, Depletion And Amortization | $100.0K | $90.00K | $3.000K |
YoY Change | 11.11% | 0.0% | 50.0% |
Cash From Operating Activities | -$1.210M | -$690.0K | -$4.120M |
YoY Change | 75.36% | -24.18% | -15.03% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$70.00K | -$60.00K | $4.000K |
YoY Change | 16.67% | 50.0% | -42.86% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$70.00K | -$60.00K | -$260.0K |
YoY Change | 16.67% | 50.0% | 33.33% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $480.0K | ||
YoY Change | -88.8% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 2.700M | 0.000 | 3.550M |
YoY Change | -100.0% | -7.41% | |
NET CHANGE | |||
Cash From Operating Activities | -1.210M | -690.0K | -4.120M |
Cash From Investing Activities | -70.00K | -60.00K | -260.0K |
Cash From Financing Activities | 2.700M | 0.000 | 3.550M |
Net Change In Cash | 1.420M | -750.0K | -830.0K |
YoY Change | -289.33% | -126.04% | -31.4% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.210M | -$690.0K | -$4.120M |
Capital Expenditures | -$70.00K | -$60.00K | $4.000K |
Free Cash Flow | -$1.140M | -$630.0K | -$4.124M |
YoY Change | 80.95% | -27.59% | -15.07% |
Facts In Submission
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---|---|---|---|---|
CY2015 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
CY2015 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
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No | |
CY2015 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
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Yes | |
CY2015 | dei |
Entity Filer Category
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Smaller Reporting Company | |
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Entity Public Float
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Cash And Cash Equivalents At Carrying Value
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9494000 | USD |
CY2015Q2 | us-gaap |
Accounts Receivable Net Current
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|
445000 | USD |
CY2015Q2 | us-gaap |
Prepaid Expense And Other Assets Current
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182000 | USD |
CY2015Q2 | us-gaap |
Assets Current
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10121000 | USD |
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Intangible Assets Net Excluding Goodwill
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CY2015Q2 | us-gaap |
Assets
Assets
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12494000 | USD |
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Accrued Liabilities Current
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159000 | USD |
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Accounts Payable Current
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Common Stock Value
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Accumulated Other Comprehensive Income Loss Net Of Tax
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Accumulated Other Comprehensive Income Loss Net Of Tax
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Retained Earnings Accumulated Deficit
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IBIO | |
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Entity Common Stock Shares Outstanding
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Cash And Cash Equivalents At Carrying Value
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3590000 | USD |
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Accounts Receivable Net Current
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205000 | USD |
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Prepaid Expense And Other Assets Current
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118000 | USD |
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Assets Current
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Intangible Assets Net Excluding Goodwill
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2575000 | USD |
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Assets
Assets
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Accrued Liabilities Current
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98000 | USD |
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Accounts Payable Current
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Liabilities
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Preferred Stock Value
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Preferred Stock Value
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Stockholders Equity
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Stockholders Equity
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Liabilities And Stockholders Equity
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Liabilities And Stockholders Equity
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Sales Revenue Net
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1851000 | USD |
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Research And Development Expense
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3495000 | USD |
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Research And Development Expense Effect Of Settlement Agreement
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Research And Development Expense Effect Of Settlement Agreement
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General And Administrative Expense Effect Of Settlement Agreement
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Operating Income Loss
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Investment Income Interest
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Interest Expense Effect Of Settlement Agreement
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Interest Expense Effect Of Settlement Agreement
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Royalty Income Nonoperating
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Net Income Loss
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Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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Earnings Per Share Basic And Diluted
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Earnings Per Share Basic And Diluted
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Weighted Average Number Of Share Outstanding Basic And Diluted
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Weighted Average Number Of Share Outstanding Basic And Diluted
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Other Nonoperating Income Expense
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Effect Of Settlement Agreement
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Effect Of Settlement Agreement
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Share Based Compensation
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Share Based Compensation
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Amortization Of Intangible Assets
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Depreciation
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Depreciation
Depreciation
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Increase Decrease In Accounts Payable
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Increase Decrease In Accrued Liabilities
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Increase Decrease In Accrued Liabilities
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Net Cash Provided By Used In Operating Activities Continuing Operations
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Payments Of Stock Issuance Costs
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Cash And Cash Equivalents Period Increase Decrease
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Unpaid Intangible Assets Included In Accounts Payable
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Unpaid Intangible Assets Included In Accounts Payable
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Unpaid Intangible Assets Included In Accrued Expenses
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Finite Lived Intangible Assets Net
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2360000 | USD |
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Finite Lived Intangible Assets Net
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2575000 | USD |
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Common Stock Shares Authorized
CommonStockSharesAuthorized
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100000000 | shares |
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Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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|
15000000 | shares |
CY2014 | ibio |
Class Of Warrants Or Rights Exercised
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Class Of Warrants Or Rights Expired
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0.40 | |
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1007000 | USD |
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Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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6760000 | shares |
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Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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1990000 | shares |
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266666 | shares |
CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
8483334 | shares |
CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.45 | |
CY2014 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.47 | |
CY2014 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0.62 | |
CY2014Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
8769911 | shares |
CY2013Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.23 | |
CY2014Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.38 | |
CY2015 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-6625000 | USD |
CY2014 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-3666000 | USD |
CY2015 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
9500000 | shares |
CY2015 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
6600000 | shares |
CY2014 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
8500000 | shares |
CY2014 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
8800000 | shares |
CY2015 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
914000 | USD |
CY2014 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1075000 | USD |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
6700000 | shares |
CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1740000 | shares |
CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
700000 | shares |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
9523334 | shares |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
9499292 | shares |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
6156677 | shares |
CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.88 | |
CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0.75 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.22 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
1.22 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
1.42 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
1836000 | USD |
CY2015Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
1105000 | USD |
CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y7M6D | |
CY2013 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y6M | |
CY2014Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2015Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2015Q2 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
153000 | USD |
CY2014Q2 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
38000 | USD |
CY2015Q2 | us-gaap |
Preferred Stock No Par Value
PreferredStockNoParValue
|
0 | |
CY2014Q2 | us-gaap |
Preferred Stock No Par Value
PreferredStockNoParValue
|
0 | |
CY2015Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2014Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2015Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2014Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2014Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2015Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2014Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2015Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
175000000 | shares |
CY2014Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
175000000 | shares |
CY2015Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
77205410 | shares |
CY2015Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
77205410 | shares |
CY2014 | ibio |
Research And Development Effect Of Amendment To Collaboration And License Agreement
ResearchAndDevelopmentEffectOfAmendmentToCollaborationAndLicenseAgreement
|
-1007000 | USD |
CY2015 | ibio |
General And Administrative Effect Of Amendment To Collaboration And License Agreement
GeneralAndAdministrativeEffectOfAmendmentToCollaborationAndLicenseAgreement
|
0 | USD |
CY2014Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
65642095 | shares |
CY2014Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
65642095 | shares |
CY2015 | ibio |
Research And Development Effect Of Amendment To Collaboration And License Agreement
ResearchAndDevelopmentEffectOfAmendmentToCollaborationAndLicenseAgreement
|
0 | USD |
CY2015 | us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
995000 | USD |
CY2014 | us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
527000 | USD |
CY2015 | ibio |
Reversal Of Accrued Warrants
ReversalOfAccruedWarrants
|
0 | USD |
CY2014 | ibio |
Reversal Of Accrued Warrants
ReversalOfAccruedWarrants
|
71000 | USD |
CY2015 | ibio |
Effect Of Amendment To Collaboration And License Agreement On Accounts Receivable And Accounts Payable
EffectOfAmendmentToCollaborationAndLicenseAgreementOnAccountsReceivableAndAccountsPayable
|
0 | USD |
CY2014 | ibio |
Effect Of Amendment To Collaboration And License Agreement On Accounts Receivable And Accounts Payable
EffectOfAmendmentToCollaborationAndLicenseAgreementOnAccountsReceivableAndAccountsPayable
|
1007000 | USD |
CY2015 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <table style="LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <b><font style="FONT-SIZE: 10pt">1.</font></b></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><b><font style="FONT-SIZE: 10pt">Nature of Business</font></b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">iBio, Inc. and Subsidiaries (“iBio” or the “Company”) is a biotechnology company focused on the commercialization of its proprietary plant-based protein expression technologies - the iBioLaunch™ platform for vaccines and therapeutic proteins and the iBioModulator™ platform for vaccine enhancement – and on developing and commercializing select biopharmaceutical product candidates. The advantages of iBio’s technology include the ability to manufacture therapeutic proteins that are difficult or commercially infeasible to produce with conventional methods, and reduced production time, capital and operating costs for biopharmaceuticals. iBio was established as a public company in August 2008 as the result of a spinoff from Integrated BioPharma, Inc. The Company operates in <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> one</font> business segment under the direction of its Executive Chairman. The Company has two wholly-owned subsidiaries, iBioDefense Biologics LLC (“iBioDefense”), a Delaware limited liability company formed in July 2013 to explore development and commercialization of defense-specific applications of the Company’s proprietary technology, and iBio Peptide Therapeutics LLC, a Delaware limited liability company formed in November 2013. Both of these subsidiaries are dormant. Additionally the Company has a 99% interest in a subsidiary organized in Brazil, iBIO DO BRASIL BIOFARMACÊUTICA LTDA. (“iBio Brazil”), to manage and expand the Company’s business activities in Brazil. The activities of iBio Brazil are intended to include coordination and expansion of the Company’s existing relationship with Fundacao Oswaldo Cruz/FioCruz (“FioCruz”) beyond the current Yellow Fever Vaccine program (see Note 8) and development of biosimilar products with private sector participants for the Brazilian market. iBio Brazil commenced operations during the first quarter of the fiscal year ended June 30, 2015.</font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
CY2015 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | pure |
CY2015 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates include the valuation of intellectual property, legal and contractual contingencies and share-based compensation. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ from these estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
CY2015Q2 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
165000 | USD |
CY2014Q2 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
110000 | USD |
CY2015Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
17000 | USD |
CY2014Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
8000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
5281000 | USD |
CY2014Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
5168000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2921000 | USD |
CY2014Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2593000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
353000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
337000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
319000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
289000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
256000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
806000 | USD |
CY2015 | ibio |
Long Term Purchase Commitment Expire Date
LongTermPurchaseCommitmentExpireDate
|
2015-12-31 | |
CY2015 | ibio |
Class Of Warrants Or Rights Exercised
ClassOfWarrantsOrRightsExercised
|
1711000 | shares |
CY2015 | ibio |
Class Of Warrants Or Rights Expired
ClassOfWarrantsOrRightsExpired
|
425587 | shares |
CY2015Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
6633324 | shares |
CY2015Q2 | ibio |
Class Of Warrants Or Right Exercisable
ClassOfWarrantsOrRightExercisable
|
6633324 | shares |
CY2015 | ibio |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Exercised
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsExercised
|
0.51 | |
CY2015 | ibio |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Expired
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsExpired
|
0.66 | |
CY2015Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.63 | |
CY2015Q2 | ibio |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Exercisable
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsExercisable
|
1.63 | |
CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y | |
CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P9Y | |
CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Other Increases Decreases In Period Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriodDescription
|
Plan was amended to increase the number of shares reserved for awards under the Plan from 10 million to 15 million | |
CY2015 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y10M24D | |
CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.43 | |
CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.40 | |
CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
1100000 | USD |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
1200000 | shares |
CY2015 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
0 | USD |
CY2014 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
0 | USD |
CY2015 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-2299000 | USD |
CY2014 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-1267000 | USD |
CY2015 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-377000 | USD |
CY2014 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-215000 | USD |
CY2015 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
-12000 | USD |
CY2014 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
0 | USD |
CY2015 | ibio |
Current And Deferred Federal And State Taxes
CurrentAndDeferredFederalAndStateTaxes
|
-2688000 | USD |
CY2014 | ibio |
Current And Deferred Federal And State Taxes
CurrentAndDeferredFederalAndStateTaxes
|
-1482000 | USD |
CY2015 | ibio |
Income Tax Expense Benefit Valuation Allowance
IncomeTaxExpenseBenefitValuationAllowance
|
2688000 | USD |
CY2014 | ibio |
Income Tax Expense Benefit Valuation Allowance
IncomeTaxExpenseBenefitValuationAllowance
|
1482000 | USD |
CY2015 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2014 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
14213000 | USD |
CY2014Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
11954000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
3992000 | USD |
CY2014Q2 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
3626000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
890000 | USD |
CY2014Q2 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
764000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
|
188000 | USD |
CY2014Q2 | us-gaap |
Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
|
122000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
|
16000 | USD |
CY2014Q2 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
|
13000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
18923000 | USD |
CY2014Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
16235000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | USD |
CY2014Q2 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | USD |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.34 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.34 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.06 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.06 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.41 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.41 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.01 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.01 | pure |
CY2015 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2014 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2008Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
5500000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
37200000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
|
21600000 | USD |
CY2015Q2 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
|
70000 | USD |
CY2015 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
26691 | shares |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
1848000 | USD |
CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
179000 | USD |
CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
161000 | USD |
CY2013Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5068000 | USD |
CY2014 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3100000 | USD |
CY2014 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
480000 | USD |
CY2014 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
29000 | USD |
CY2014 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
71000 | USD |
CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
900000 | USD |
CY2014 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1075000 | USD |
CY2015 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
914000 | USD |