2018 Q4 Form 10-Q Financial Statement
#000114420418057663 Filed on November 06, 2018
Income Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $7.530M | $7.110M | $4.590M |
YoY Change | -11.31% | 54.9% | -56.29% |
% of Gross Profit | |||
Research & Development | $27.42M | $27.95M | $16.68M |
YoY Change | 55.88% | 67.56% | 96.66% |
% of Gross Profit | |||
Depreciation & Amortization | $260.0K | $250.0K | $250.0K |
YoY Change | 8.33% | 0.0% | 66.67% |
% of Gross Profit | |||
Operating Expenses | $34.94M | $35.06M | $22.34M |
YoY Change | 34.02% | 56.92% | 17.72% |
Operating Profit | -$35.06M | -$22.34M | |
YoY Change | 56.92% | 17.72% | |
Interest Expense | $2.370M | $1.230M | $190.0K |
YoY Change | 977.27% | 547.37% | -13.64% |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$32.58M | -$33.83M | -$22.15M |
YoY Change | 26.03% | 52.73% | 18.07% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$32.58M | -$33.83M | -$22.15M |
YoY Change | 26.0% | 52.74% | -67.53% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$273.0K | -$355.8K | -$349.8K |
COMMON SHARES | |||
Basic Shares Outstanding | 123.2M shares | 95.59M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $468.5M | $260.0M | $163.4M |
YoY Change | 222.21% | 59.12% | -8.87% |
Cash & Equivalents | $82.15M | $80.74M | $163.4M |
Short-Term Investments | $386.4M | $179.3M | $0.00 |
Other Short-Term Assets | $6.900M | $5.900M | $8.000M |
YoY Change | 76.92% | -26.25% | 515.38% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $475.4M | $265.9M | $171.4M |
YoY Change | 218.42% | 55.11% | -5.07% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $2.683M | $2.640M | $2.600M |
YoY Change | 9.51% | 1.54% | 46.98% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $2.764M | $2.331M | |
YoY Change | -23.92% | ||
Total Long-Term Assets | $5.447M | $4.971M | $2.600M |
YoY Change | -10.46% | 91.19% | 46.98% |
TOTAL ASSETS | |||
Total Short-Term Assets | $475.4M | $265.9M | $171.4M |
Total Long-Term Assets | $5.447M | $4.971M | $2.600M |
Total Assets | $480.8M | $270.8M | $174.0M |
YoY Change | 209.46% | 55.65% | -4.57% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.739M | $6.014M | $2.900M |
YoY Change | 122.32% | 107.38% | 1171.93% |
Accrued Expenses | $11.66M | $10.66M | $5.600M |
YoY Change | 39.41% | 90.36% | 88.81% |
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 | $14.40M | $16.67M | $8.500M |
YoY Change | 50.06% | 96.16% | 166.12% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $230.0K | ||
YoY Change | -23.33% | ||
Total Long-Term Liabilities | $230.0K | $0.00 | $0.00 |
YoY Change | -22.56% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $14.40M | $16.67M | $8.500M |
Total Long-Term Liabilities | $230.0K | $0.00 | $0.00 |
Total Liabilities | $14.63M | $16.70M | $8.500M |
YoY Change | 47.88% | 96.47% | 165.63% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$372.8M | -$340.2M | |
YoY Change | 49.59% | ||
Common Stock | $5.000K | $4.000K | |
YoY Change | 66.67% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $466.2M | $254.2M | $165.4M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $480.8M | $270.8M | $174.0M |
YoY Change | 209.46% | 55.65% | -4.55% |
Cashflow Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$32.58M | -$33.83M | -$22.15M |
YoY Change | 26.0% | 52.74% | -67.53% |
Depreciation, Depletion And Amortization | $260.0K | $250.0K | $250.0K |
YoY Change | 8.33% | 0.0% | 66.67% |
Cash From Operating Activities | -$31.55M | -$27.93M | -$21.45M |
YoY Change | 50.52% | 30.21% | 75.68% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$300.0K | -$460.0K | -$270.0K |
YoY Change | -600.0% | 70.37% | -62.5% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$206.1M | -$148.9M | $14.75M |
YoY Change | -1109.56% | -194.37% | |
Cash From Investing Activities | -$206.4M | -$149.4M | $14.49M |
YoY Change | -344066.67% | -1130.92% | -188.62% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $236.7M | $53.70M | |
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 239.4M | 12.02M | 56.06M |
YoY Change | 8153.45% | -78.56% | 11112.0% |
NET CHANGE | |||
Cash From Operating Activities | -31.55M | -27.93M | -21.45M |
Cash From Investing Activities | -206.4M | -149.4M | 14.49M |
Cash From Financing Activities | 239.4M | 12.02M | 56.06M |
Net Change In Cash | 1.420M | -165.3M | 49.10M |
YoY Change | -107.89% | -436.64% | -274.98% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$31.55M | -$27.93M | -$21.45M |
Capital Expenditures | -$300.0K | -$460.0K | -$270.0K |
Free Cash Flow | -$31.25M | -$27.47M | -$21.18M |
YoY Change | 48.67% | 29.7% | 84.33% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2018Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
80738000 | USD |
CY2017Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
145373000 | USD |
CY2018Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
5863000 | USD |
CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
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|
3917000 | USD |
CY2018Q3 | us-gaap |
Assets Current
AssetsCurrent
|
265863000 | USD |
CY2017Q4 | us-gaap |
Assets Current
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|
149290000 | USD |
CY2018Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2640000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2450000 | USD |
CY2018Q3 | us-gaap |
Other Assets Noncurrent
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|
2331000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
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|
3633000 | USD |
CY2018Q3 | us-gaap |
Assets
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|
270834000 | USD |
CY2017Q4 | us-gaap |
Assets
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|
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Accounts Payable Current
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Accounts Payable Current
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Liabilities Current
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Commitments And Contingencies
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|
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General And Administrative Expense
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Operating Expenses
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Operating Expenses
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|
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us-gaap |
Operating Expenses
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|
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Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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|
5516000 | USD |
CY2017Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
2619000 | USD |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
14842000 | USD | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
9208000 | USD | |
CY2018Q3 | us-gaap |
Cash Equivalents At Carrying Value
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|
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CY2017Q4 | us-gaap |
Commitments And Contingencies
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|
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CY2018Q3 | us-gaap |
Common Stock Value
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4000 | USD |
CY2017Q4 | us-gaap |
Common Stock Value
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|
3000 | USD |
CY2018Q3 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
594455000 | USD |
CY2017Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
394651000 | USD |
CY2018Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-340185000 | USD |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-249180000 | USD |
CY2018Q3 | us-gaap |
Stockholders Equity
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|
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CY2017Q4 | us-gaap |
Stockholders Equity
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|
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|
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|
155373000 | USD |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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|
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Revenues
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Research And Development Expense
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|
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Cash Equivalents At Carrying Value
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|
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|
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Accrued Employee Benefits Current
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|
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Legal And Related Services Current
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|
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|
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|
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Manufacturing Related Expenses Current
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|
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Manufacturing Related Expenses Current
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Operating Income Loss
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Investment Income Interest
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|
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CY2017Q3 | us-gaap |
Investment Income Interest
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|
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us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2310000 | USD | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
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us-gaap |
Net Income Loss
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|
-91005000 | USD | |
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Earnings Per Share Basic And Diluted
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|
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|
-0.35 | |
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Earnings Per Share Basic And Diluted
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|
-1.01 | ||
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|
-1.06 | ||
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|
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|
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|
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Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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Share Based Compensation
ShareBasedCompensation
|
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Share Based Compensation
ShareBasedCompensation
|
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us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
15.26 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
6.46 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
3800000 | USD | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
1200000 | USD | |
CY2018Q3 | us-gaap |
Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
|
179262000 | USD |
CY2017Q4 | us-gaap |
Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
|
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Accumulated Other Comprehensive Income Loss Net Of Tax
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|
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Accumulated Other Comprehensive Income Loss Net Of Tax
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Net Income Loss
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Net Income Loss
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Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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|
-117000 | USD |
CY2017Q3 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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Comprehensive Income Net Of Tax
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|
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CY2017Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
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us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
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us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
704000 | USD | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
710000 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-9000 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
0 | USD | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-388000 | USD | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
19000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
14842000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
9208000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
644000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
4953000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
4782000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2148000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
2000000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
1333000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-69700000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
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us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
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|
0 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
903000 | USD | |
us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
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|
59705000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1086000 | USD | |
us-gaap |
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|
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us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
58619000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
181000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
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|
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Proceeds From Warrant Exercises
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|
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us-gaap |
Proceeds From Warrant Exercises
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|
388000 | USD | |
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|
8366000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2554000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
162093000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
54050000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
184962000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
55789000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-64635000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
56663000 | USD | |
CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
106717000 | USD |
CY2017Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
163380000 | USD |
iova |
Unrealized Gain Loss On Shortterm Investments
UnrealizedGainLossOnShorttermInvestments
|
-120000 | USD | |
iova |
Unrealized Gain Loss On Shortterm Investments
UnrealizedGainLossOnShorttermInvestments
|
-29000 | USD | |
iova |
Leasehold Improvements Paid By Landlord
LeaseholdImprovementsPaidByLandlord
|
0 | USD | |
iova |
Leasehold Improvements Paid By Landlord
LeaseholdImprovementsPaidByLandlord
|
-155000 | USD | |
us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
178994000 | USD | |
us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
0 | USD | |
us-gaap |
Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
|
1000 | USD | |
us-gaap |
Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
|
0 | USD | |
iova |
Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
|
23100000 | USD | |
CY2018Q3 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
179262000 | USD |
CY2018Q3 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
179262000 | USD |
CY2017Q4 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
0 | USD |
us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
1523396 | shares | |
iova |
Reversal Of Prior Period Expense
ReversalOfPriorPeriodExpense
|
400000 | USD | |
CY2016Q2 | us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
500000 | USD |
iova |
Common Stock Registered For Resale
CommonStockRegisteredForResale
|
128500 | shares | |
iova |
Number Of Share Options Or Share Units Exercised During Current Period
NumberOfShareOptionsOrShareUnitsExercisedDuringCurrentPeriod
|
128500 | shares | |
CY2018Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
200000 | USD |
CY2017Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
300000 | USD |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
700000 | USD | |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
700000 | USD | |
CY2018Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.000041666 | |
CY2018Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
CY2018Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
97425721 | shares |
CY2017Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
73164914 | shares |
CY2017Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.000041666 | |
CY2017Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
CY2018Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
97425721 | shares |
CY2017Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
73164914 | shares |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-66210000 | USD | |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-29000 | USD | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-66239000 | USD | |
iova |
Offering Costs Under Accounts Payable And Accrued Expenses
OfferingCostsUnderAccountsPayableAndAccruedExpenses
|
0 | USD | |
iova |
Offering Costs Under Accounts Payable And Accrued Expenses
OfferingCostsUnderAccountsPayableAndAccruedExpenses
|
235000 | USD | |
CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
|
The granted stock options vest in 12 quarterly installments (with 1/12th of the option shares having vested on the date of grant). | |
CY2018Q3 | us-gaap |
Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
|
178994000 | USD |
iova |
Trading Securities Accretion
TradingSecuritiesAccretion
|
388000 | USD | |
CY2018Q3 | us-gaap |
Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
|
0 | USD |
CY2018Q3 | us-gaap |
Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
|
120000 | USD |
CY2018Q3 | us-gaap |
Investment Owned At Fair Value
InvestmentOwnedAtFairValue
|
179262000 | USD |
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | ||
dei |
Trading Symbol
TradingSymbol
|
IOVA | ||
CY2018Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
123169528 | shares |
dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | ||
us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 8. LEGAL PROCEEDINGS</div></div></div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Class Action Lawsuit.</div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> On April 10, 2017, the SEC announced settlements with </div>the Company <div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">and with other public companies and unrelated parties in the <div style="font-style:italic;display:inline;">In the Matter of Certain Stock Promotion </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">investigation. </div>The Company’s <div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">settlement with the SEC is consistent with our previous disclosures (including in our Annual Report on Form 10-K that we filed with the SEC on March 9, 2017). On April 14, 2017, a purported shareholder filed a complaint seeking class action status in the United States District Court, Northern District of California for violations of the federal securities laws (</div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Leonard DeSilvio v. Lion Biotechnologies, Inc., et al., </div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">case no. 3:17-cv-2086) against our company and three of our former officers and directors. On April 19, 2017, a second class action complaint </div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">(Amra Kuc vs. Lion Biotechnologies, Inc., et al., </div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">case no. 3:17-cv-2188) was filed in the same court. Both complaints allege, among other things, that the defendants violated the federal securities laws by making materially false and misleading statements, or by failing to make certain disclosures, regarding the actions taken by Manish Singh, our former CEO, and our former investor relations firm that were the subject of the </div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">In the Matter of Certain Stock Promotions </div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">investigation. On July 20, 2017, the plaintiff in the </div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Kuc </div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">case filed a notice to voluntarily dismiss that case. The court entered an order dismissing the </div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Kuc </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">complaint on July 21, 2017. On July 26, 2017, the court appointed a movant as lead plaintiff. On September 8, 2017, the lead plaintiff filed an amended complaint (</div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Jay Rabkin v. Lion Biotechnologies, Inc., et al., </div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">case no. 3:17-cv-2086) seeking class action status that alleges, among other things, that the defendants violated federal securities laws by making materially false and misleading statements, or by failing to make certain disclosures, regarding the actions taken by Manish Singh and our former investor relations firm that were the subject of the </div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">In the Matter of Certain Stock Promotions </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">SEC investigation. On February 5, 2018, the court entered an order dismissing two of plaintiff’s six claims. As the result of mediation, on September 28, 2018, lead plaintiff filed an unopposed motion for settlement, the cost of which, if approved, is expected to be borne by our insurance carrier and would result in no loss to us. A hearing on preliminary approval of the settlement is set for November 9, 2018.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Derivative Lawsuits.</div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> On December 15, 2017, a purported stockholder derivative complaint was filed by plaintiff Kevin Fong on behalf of the Company, against the Company, as nominal defendant, and certain of the Company’s current and former officers and directors, and others, as defendants, in the U.S. District Court for the District of Delaware (case no. 1:17-cv-1806). The complaint alleges breaches of fiduciary duties, unjust enrichment, and violations of Section 14(a) of the Securities Exchange Act of 1934 and Rule 14a-9 promulgated thereunder arising from the SEC’s investigation in the </div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">In the Matter of Certain Stock Promotions </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">investigation and our April 10, 2017 settlement thereof, and seeks unspecified damages on behalf of our company and injunctive relief.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On March 28, 2018, a purported stockholder derivative complaint was filed by plaintiff Nazeer Khaleeluddin on behalf of the Company, against the Company, as nominal defendant, and certain of the Company’s current and former officers and directors, and others, as defendants, in the U.S. District Court for the District of Delaware (case no. 1:18-cv-00469). The complaint alleges, among other things, violations of securities law, breach of fiduciary duty, aiding and abetting, waste of corporate assets, and unjust enrichment. The complaint is based on claims arising from the SEC’s investigation in the </div><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">In the Matter of Certain Stock Promotions</div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> investigation and the Company’s April 10, 2017 settlement thereof, and seeks unspecified damages on behalf of our company and injunctive relief. On May 1, 2018, the court consolidated this case with the aforementioned purported stockholder derivative case filed by plaintiff Kevin Fong.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="text-align: justify; text-indent: 0.5in; margin: 0px; font: 10pt "times new roman", times, serif; background: none;">The Company intends <div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">to vigorously defend against the foregoing complaints. Based on the very early stage of the litigation, it is not possible to estimate the amount or range of possible loss that might result from an adverse judgment or a settlement of these matters.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Solomon Capital, LLC.</div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> On April 8, 2016, a lawsuit titled </div><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Solomon Capital, LLC, Solomon Capital 401(K) Trust, Solomon Sharbat and Shelhav Raff v. Lion Biotechnologies, Inc.</div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> was filed by Solomon Capital, LLC, Solomon Capital 401(k) Trust, Solomon Sharbat and Shelhav Raff against the Company in the Supreme Court of the State of New York, County of New York (index no. 651881/2016). The plaintiffs allege that, between June and November 2012 they provided to the Company $0.1 million and that they advanced and paid on our behalf an additional $0.2 million. The complaint further alleges that the Company agreed to (i) provide them with promissory notes totaling $0.2 million, plus interest, (ii) issue a total of 111,425 shares to the plaintiffs (before the 1-for-100 reverse split of our common stock effected in March 2013), and (iii) allow the plaintiffs to convert the foregoing funds into our securities in the next transaction. The plaintiffs allege that they should have been able to convert their advances and payments into shares of the Company’s common stock in the restructuring that was affected in May 2013. Based on the foregoing, the plaintiffs allege causes for breach of contract and unjust enrichment and demand judgment against the Company in an unspecified amount exceeding $1.5 million, plus interest and attorneys’ fees.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On June 3, 2016, the Company filed an answer and counterclaims in the lawsuit. In its counterclaims, the Company alleges that the plaintiffs misrepresented their qualifications to assist it in fundraising and that they failed to disclose that they were under investigation for securities laws violations. The Company is seeking damages in an amount exceeding $0.5 million and an order rescinding any and all agreements that the plaintiffs contend entitled them to obtain stock in the Company.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On April 19, 2017, the court granted plaintiffs’ counsel’s motion to withdraw from the case. On May 25, 2017, plaintiffs filed a notice that they had hired new counsel. On June 7, 2017, the judge presiding over the case recused herself because of a conflict of interest arising from her relationship with plaintiffs’ new attorneys, and the case was subsequently assigned to a new judge. On April 20, 2018, the court held a hearing regarding plaintiff’s motion to dismiss the Company’s amended counterclaims and affirmative defense for fraudulent inducement. On August 15, 2018, the court entered an order granting the plaintiff’s motion and dismissed the Company’s amended counterclaims and eleventh affirmative defense for fraudulent inducement without leave to amend. On September 14, 2018, the Company filed a notice of appeal related to this order, and on </div><div style="background: none; font-family: "times new roman", times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">November 5, 2018, </div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">the Company filed its memorandum of law in support of its appeal of the order dismissing the Company’s amended counterclaims and affirmative defense for fraudulent inducement.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company intends to vigorously defend the complaint and pursue its counterclaims.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Litigation Involving Dr. Steven Fischkoff.</div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> On June 13, 2017, in an action titled </div><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Steven Fischkoff v. Lion Biotechnologies, Inc. and Maria Fardis</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">, Dr. Steven Fischkoff, our former Vice President and Chief Medical Officer, filed a lawsuit against the Company and Dr. Fardis in the Supreme Court of the State of New York County of New York. Dr. Fischkoff was dismissed by the Company on March 28, 2017. Dr. Fischkoff was terminated “for cause” as that term is defined in his employment agreement. In his complaint, Dr. Fischkoff alleges breaches of his employment agreement and violation of New York Labor Law for failure to pay monies purportedly owed to him, and seeks to recover amounts including severance pay and retention bonus (totaling $300,000), a prorated incentive bonus, and amounts relating to unvested options to 150,000 shares of our common stock, together with prejudgment interest, costs, expenses and attorneys’ fees. On July 5, 2017, the Company filed a removal petition and removed the lawsuit to the United States District Court for the Southern District of New York, where the case has been assigned case no. 1:17-cv-05041. On July 14, 2017, the Company filed a partial answer and counterclaims against Dr. Fischkoff, denying his allegations, and alleging breach of contract and related claims, breach of fiduciary duty, and state and federal trade secret misappropriation and related claims, and sought a temporary restraining order and preliminary injunction against Dr. Fischkoff. On July 18, 2017, the court issued a temporary restraining order against Dr. Fischkoff requiring him to return Company materials, prohibiting him from disclosing or using Company materials, and granting expedited discovery. On June 25, 2018, pursuant to a stipulation between the parties, the court entered a permanent injunction prohibiting Dr. Fischkoff from disclosing, possessing, or using any of the Company’s proprietary materials or trade secrets. On July 5, 2018, the court entered an order dismissing two of Dr. Fischkoff’s claims against us and Dr. Fardis. On October 18, 2018, Dr. Fischkoff amended his complaint to assert a new claim for defamation arising from SEC filings in which the Company provided information about this litigation.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;">The Company intends<div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> to vigorously defend against Dr. Fischkoff’s lawsuit and pursue the Company’s counterclaims. Based on the very early stage of the litigation, it is not possible to estimate the amount or range of (i) a possible loss that might result from an adverse judgment or settlement of this action, or (ii) the potential recovery that might result from a favorable judgment or a settlement of this action.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Other Matters.</div></div><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> During the second quarter of 2016, warrants representing 128,500 shares were exercised. The 128,500 shares of common stock had previously been registered for re-sale. However, we believe that these 128,500 warrant shares were sold by the holders in open market transactions in May 2016 at a time when the registration statement was ineffective. Accordingly, those sales were not made in accordance with Sections 5 and 10(a)(3) of the Securities Act</div> of 1933, as amended<div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">, and the purchasers of those shares may have rescission rights (if they still own the shares) or claims for damages (if they no longer own the shares). The amount of any such liability is uncertain and as such, an accrual for any potential loss has not been made. The Company believes that any claims brought against it would not result in a material impact to the Company’s financial position or results of operations. The Company has not accrued a loss for a potential claim associated with this matter as it is unable to estimate any at this time.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In connection with the Company’s reincorporation from Nevada to Delaware in 2017, the Company (as a Delaware corporation) untimely filed a post-effective amendment to adopt a Form S-8 registration statement that the Company filed (as a Nevada corporation) to register the shares underlying the Company’s 2011 Equity Incentive Plan. Before the Company filed the required post-effective amendment, options to purchase 200,000 shares were exercised under the 2011 Equity Incentive Plan. The effect of the delayed post-effective amendment filing on the 200,000 option shares is uncertain, but the issuance and sale of the shares may not have been in compliance with the Form S-8 registration statement. The existence of any liability to the Company, and the amount of any such liability to the Company, as a result of the issuance of the 200,000 shares is uncertain. Accordingly, no accrual for a potential claim has been made by the Company in its financial statements.</div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company may be involved, from time to time, in legal proceedings and claims arising in the ordinary course of its business. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. The Company accrues amounts, to the extent they can be reasonably estimated, that it believes are adequate to address any liabilities related to legal proceedings and other loss contingencies that the Company believes will result in a probable loss. While there can be no assurances as to the ultimate outcome of any legal proceeding or other loss contingency involving the Company, management does not believe any pending matter will be resolved in a manner that would have a material adverse effect on the Company’s financial position, results of operations or cash flows.</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
dei |
Entity Small Business
EntitySmallBusiness
|
false | ||
CY2018Q3 | iova |
Payments For Legal Services
PaymentsForLegalServices
|
100000 | USD |
iova |
Payments For Legal Services
PaymentsForLegalServices
|
400000 | USD | |
iova |
Payments For Legal Services
PaymentsForLegalServices
|
500000 | USD | |
CY2017Q3 | iova |
Payments For Legal Services
PaymentsForLegalServices
|
100000 | USD |
CY2013Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
|
an amendment to increase the number options or other awards that can be granted to any one person during a twelve (12) month period from 50,000 shares to 300,000 shares. | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
22038728 | shares | |
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2018-09-30 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2018 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
IOVANCE BIOTHERAPEUTICS, INC. | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001425205 | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin: 0px 0px 0px 0in; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Use of Estimates</div></div></div></div><div style="margin: 0px 0px 0px 0in; text-align: justify; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; text-decoration: none; font-family: "times new roman", times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="margin: 0px 0px 0px 0in; text-align: justify; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include valuation of short-term investments, the useful lives of property and equipment, accounting for potential liabilities, the valuation allowance associated with the Company’s deferred tax assets, and the assumptions made in valuing stock instruments issued for services.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="margin: 0px 0px 0px 0in; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Reclassifications</div></div></div></div><div style="margin: 0px 0px 0px 0in; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; text-decoration: none; font-family: "times new roman", times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="margin: 0px 0px 0px 0in; text-align: justify; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Certain amounts within the statements of operations for the prior periods have been reclassified to conform with the current period presentation. These reclassifications had no impact on the Company's previously reported financial position or cash flows for any of the periods presented.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> |