2017 Q2 Form 10-Q Financial Statement
#000114420417024841 Filed on May 05, 2017
Income Statement
| Concept | 2017 Q2 | 2017 Q1 | 2016 Q1 |
|---|---|---|---|
| Revenue | $148.3K | $184.5K | $0.00 |
| YoY Change | -36.79% | ||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $1.210M | $1.290M | $1.530M |
| YoY Change | -23.42% | -15.69% | 96.15% |
| % of Gross Profit | |||
| Research & Development | $2.262M | $1.815M | $914.0K |
| YoY Change | -8.84% | 98.58% | 184.34% |
| % of Gross Profit | |||
| Depreciation & Amortization | $4.536K | $4.536K | $84.00 |
| YoY Change | 2717.39% | 5300.0% | -75.44% |
| % of Gross Profit | |||
| Operating Expenses | $3.475M | $3.104M | $2.443M |
| YoY Change | -14.42% | 27.08% | 121.21% |
| Operating Profit | -$3.327M | -$2.920M | |
| YoY Change | -13.05% | ||
| Interest Expense | $305.00 | $303.00 | $0.00 |
| YoY Change | -100.0% | ||
| % of Operating Profit | |||
| Other Income/Expense, Net | -$69.00 | -$42.00 | $317.00 |
| YoY Change | -102.46% | -113.25% | -100.02% |
| Pretax Income | -$3.330M | -$2.920M | -$2.440M |
| YoY Change | -12.83% | 19.67% | -12.86% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$3.327M | -$2.920M | -$2.442M |
| YoY Change | -12.91% | 19.54% | -12.8% |
| Net Earnings / Revenue | -2243.48% | -1582.19% | |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$166.50 | -$146.00 | -$244.00 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 10.88M shares | 8.346M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2017 Q2 | 2017 Q1 | 2016 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $11.76M | $5.440M | $7.210M |
| YoY Change | 46.45% | -24.55% | 214.85% |
| Cash & Equivalents | $11.81M | $5.483M | $7.215M |
| Short-Term Investments | |||
| Other Short-Term Assets | $520.0K | $860.0K | $750.0K |
| YoY Change | -23.53% | 14.67% | 316.67% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | $337.5K | ||
| Total Short-Term Assets | $12.45M | $6.430M | $8.330M |
| YoY Change | 41.8% | -22.81% | 234.54% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $30.00K | $30.00K | $0.00 |
| YoY Change | |||
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $400.0K | $100.0K | $46.57K |
| YoY Change | 344.44% | 114.73% | -22.38% |
| Total Long-Term Assets | $5.860M | $5.570M | $3.987M |
| YoY Change | 46.25% | 39.71% | 6544.79% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $12.45M | $6.430M | $8.330M |
| Total Long-Term Assets | $5.860M | $5.570M | $3.987M |
| Total Assets | $18.31M | $12.00M | $12.32M |
| YoY Change | 43.27% | -2.57% | 383.01% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $970.0K | $1.310M | $869.3K |
| YoY Change | -21.14% | 50.69% | 199.77% |
| Accrued Expenses | $1.170M | $860.0K | $910.7K |
| YoY Change | -10.69% | -5.56% | 600.51% |
| 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 | $11.00M | $10.40M | $5.650M |
| YoY Change | 74.33% | 84.07% | 1278.04% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $10.00K | $10.00K | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $1.210M | $1.210M | |
| YoY Change | |||
| Total Long-Term Liabilities | $1.220M | $2.749M | $0.00 |
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $11.00M | $10.40M | $5.650M |
| Total Long-Term Liabilities | $1.220M | $2.749M | $0.00 |
| Total Liabilities | $13.74M | $13.15M | $5.650M |
| YoY Change | 117.58% | 132.7% | 1278.05% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$67.70M | ||
| YoY Change | |||
| Common Stock | $83.46K | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $4.570M | -$1.150M | $6.667M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $18.31M | $12.00M | $12.32M |
| YoY Change | 43.27% | -2.57% | 383.01% |
Cashflow Statement
| Concept | 2017 Q2 | 2017 Q1 | 2016 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$3.327M | -$2.920M | -$2.442M |
| YoY Change | -12.91% | 19.54% | -12.8% |
| Depreciation, Depletion And Amortization | $4.536K | $4.536K | $84.00 |
| YoY Change | 2717.39% | 5300.0% | -75.44% |
| Cash From Operating Activities | -$2.480M | -$18.60K | -$1.350M |
| YoY Change | -7.46% | -98.62% | -23.73% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | |||
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $0.00 | $180.0K |
| YoY Change | -100.0% | -100.0% | -1000.0% |
| Cash From Investing Activities | $0.00 | $0.00 | $180.0K |
| YoY Change | -100.0% | -100.0% | -1000.0% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $8.800M | $1.800M | $0.00 |
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 8.800M | $1.823M | 0.000 |
| YoY Change | 151.43% | -100.0% | |
| NET CHANGE | |||
| Cash From Operating Activities | -2.480M | -$18.60K | -1.350M |
| Cash From Investing Activities | 0.000 | 0.000 | 180.0K |
| Cash From Financing Activities | 8.800M | $1.823M | 0.000 |
| Net Change In Cash | 6.320M | $1.804M | -1.170M |
| YoY Change | 690.0% | -254.19% | -156.52% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$2.480M | -$18.60K | -$1.350M |
| Capital Expenditures | |||
| Free Cash Flow | |||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2017Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2017Q1 | us-gaap |
Liabilities
Liabilities
|
13147646 | USD |
| CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
10060023 | USD |
| CY2017Q1 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
1210000 | USD |
| CY2016Q4 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
1210000 | USD |
| CY2017Q1 | eyeg |
Goodwill And Inprocess Research And Development
GoodwillAndInprocessResearchAndDevelopment
|
5438210 | USD |
| CY2016Q4 | eyeg |
Goodwill And Inprocess Research And Development
GoodwillAndInprocessResearchAndDevelopment
|
5438210 | USD |
| CY2017Q1 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
1525896 | USD |
| CY2016Q4 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
1525896 | USD |
| CY2017Q1 | us-gaap |
Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
|
12907 | USD |
| CY2016Q4 | us-gaap |
Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
|
16069 | USD |
| CY2017Q1 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
2748803 | USD |
| CY2016Q4 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
2751965 | USD |
| CY2017Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1289144 | USD |
| CY2016Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1528778 | USD |
| CY2017Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1815000 | USD |
| CY2016Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
913972 | USD |
| CY2017Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
3104144 | USD |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
7846616 | shares |
| CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-563 | USD |
| CY2016Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-2442996 | USD |
| CY2016Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
0 | USD |
| CY2017Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
10878116 | shares |
| CY2016Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
2442750 | USD |
| CY2017Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
261 | USD |
| CY2016Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
317 | USD |
| CY2017Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
10456379 | shares |
| CY2017Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
65 | USD |
| CY2017Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-2919589 | USD |
| CY2017Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
184532 | USD |
| CY2017Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
276901 | USD |
| CY2017Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1823933 | USD |
| CY2017Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
1841 | USD |
| CY2017Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
|
65 | USD |
| CY2017Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2919654 | USD |
| CY2016Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
-329421 | USD |
| CY2017Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
-1146335 | USD |
| CY2017Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
4536 | USD |
| CY2016Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
84 | USD |
| CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
276901 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
113360 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
398476 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
257642 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
|
0 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
|
112 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
207 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
7984 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-101138 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
173182 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
0 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
798455 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-808077 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-300413 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-18601 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-1353503 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
0 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
10000 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
0 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
175746 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1841 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
1822612 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
0 | USD |
| CY2017Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-1564 | USD |
| CY2016Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-1595 | USD |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
8394133 | USD |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
7214781 | USD |
| CY2017Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
1802447 | USD |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-1179352 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-3927514 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-570000 | USD |
| CY2017Q1 | us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
0 | USD |
| CY2016Q1 | us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
185746 | USD |
| CY2017Q1 | us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
0 | USD |
| CY2016Q4 | eyeg |
Clinical Trials Currrent
ClinicalTrialsCurrrent
|
770158 | USD |
| CY2017Q1 | eyeg |
Consulting Expenses Current
ConsultingExpensesCurrent
|
4500 | USD |
| CY2016Q4 | eyeg |
Consulting Expenses Current
ConsultingExpensesCurrent
|
44983 | USD |
| CY2017Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
186910 | USD |
| CY2016Q1 | us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
1210000 | USD |
| CY2017Q1 | eyeg |
Stock Issued For Acquisition
StockIssuedForAcquisition
|
0 | USD |
| CY2016Q1 | eyeg |
Stock Issued For Acquisition
StockIssuedForAcquisition
|
2442711 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1922252 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD |
| CY2016Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
0 | USD |
| CY2017Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
3162 | USD |
| CY2016Q2 | us-gaap |
Capital Units Authorized
CapitalUnitsAuthorized
|
100000000 | shares |
| CY2017Q1 | eyeg |
Money Market Funds Fair Value
MoneyMarketFundsFairValue
|
750909 | USD |
| CY2017Q1 | eyeg |
Contingent Consideration Funds Fair Value
ContingentConsiderationFundsFairValue
|
1210000 | USD |
| CY2016Q4 | eyeg |
Money Market Funds Fair Value
MoneyMarketFundsFairValue
|
1500882 | USD |
| CY2016Q4 | eyeg |
Contingent Consideration Funds Fair Value
ContingentConsiderationFundsFairValue
|
1210000 | USD |
| CY2017Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
9072 | USD |
| CY2016Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3469628 | shares |
| CY2016Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4536 | USD |
| CY2016Q1 | us-gaap |
Depreciation
Depreciation
|
84 | USD |
| CY2017Q1 | us-gaap |
Depreciation
Depreciation
|
4536 | USD |
| CY2017Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4342670 | shares |
| CY2017Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
252143 | USD |
| CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
668802 | USD |
| CY2017Q1 | eyeg |
Clinical Trials Currrent
ClinicalTrialsCurrrent
|
406655 | USD |
| CY2016Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
174342 | USD |
| CY2017Q1 | us-gaap |
Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
|
12645 | USD |
| CY2016Q4 | us-gaap |
Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
|
12645 | USD |
| CY2016Q2 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
1319289 | shares |
| CY2017Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
| CY2017Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
10130883 | shares |
| CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q2 | us-gaap |
Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
|
1234000 | shares |
| CY2016Q2 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
3400000 | USD |
| CY2016Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
3.50 | |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
9997223 | shares |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
9997223 | shares |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2016Q3 | us-gaap |
Area Of Land
AreaOfLand
|
2300 | sqft |
| CY1999Q1 | eyeg |
License Expiration Period
LicenseExpirationPeriod
|
P12Y | |
| CY1999Q1 | us-gaap |
License Costs
LicenseCosts
|
12500 | USD |
| CY2016Q2 | us-gaap |
License Costs
LicenseCosts
|
15000 | USD |
| CY2013Q3 | us-gaap |
License Costs
LicenseCosts
|
50000 | USD |
| CY2017Q1 | dei |
Document Type
DocumentType
|
10-Q | |
| CY2017Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
| CY2017Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2017-03-31 | |
| CY2017Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2017 | |
| CY2017Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
| CY2017Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
EYEGATE PHARMACEUTICALS INC | |
| CY2017Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001372514 | |
| CY2017Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
| CY2017Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Smaller Reporting Company | |
| CY2017Q1 | dei |
Trading Symbol
TradingSymbol
|
EYEG | |
| CY2017Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
10878116 | shares |
| CY2016Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2017Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2017Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.28 | |
| CY2016Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.31 | |
| CY2017Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2017Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10878116 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10130883 | shares |
| CY2017Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
0 | USD |
| CY2017Q1 | 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;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b>1. Organization, Business</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> EyeGate Pharmaceuticals, Inc. (“EyeGate” or the “Company”) a Delaware corporation, began operations in December 2004 and is a clinical-stage specialty pharmaceutical company that is focused on developing and commercializing products for treating diseases and disorders of the eye. EyeGate’s first product in clinical trials incorporates a reformulated topically active corticosteroid, dexamethasone phosphate, EGP-437, that is delivered into the ocular tissues though our proprietary iontophoresis drug delivery system, the EyeGate® II Delivery System. The Company is developing the EyeGate® II Delivery System and EGP-437 combination product (together, the “EGP-437 Product”) for the treatment of various inflammatory conditions of the eye, including anterior uveitis, a debilitating form of intraocular inflammation of the anterior portion of the uvea, such as the iris and/or ciliary body, post-cataract surgery inflammation and pain, and macular edema, an abnormal thickening of the macula associated with the accumulation of excess fluids in the retina. Effective March 7, 2016, the Company acquired all of the capital stock of Jade Therapeutics, Inc. (“Jade”), a privately-held company developing locally-administered, polymer-based products designed to treat poorly-served ophthalmic indications (the “Jade Acquisition”). EyeGate and Jade are an integrated line of business developing ophthalmic solutions for a variety of ocular diseases and disorders.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> On June 30, 2016, the Company completed a registered direct offering of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 441,000</font> shares of Common Stock and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,776.5</font> shares of Series A Preferred Stock (convertible into <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,234,000</font> shares of Common Stock), along with a concurrent private placement of warrants to purchase Common Stock. The total net proceeds to the Company from this offering, after deducting the placement agent fees and offering expenses, were approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">3.4</font> million. The warrants were initially exercisable on December 30, 2016, and expire on December 30, 2021. On February 21, 2017, the Company authorized the restart of sales under the At The Market Offering Agreement between the Company and H.C. Wainwright & Co., LLC (the “ATM Agreement”) and subsequently sold <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 642,150</font> of common shares during the first quarter of 2017. The total net proceeds to the Company from this offering, after deducting the placement agent fees and offering expenses, were approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1.8</font> million. <i>See</i> Note 6, “Capital Stock”.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> Effective July 31, 2015, the Company’s Common Stock began trading on The Nasdaq Capital Market under the symbol “EYEG”.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> As of March 31, 2017, there were <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10,878,116</font> shares of Common Stock outstanding, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.01</font> par value, and no shares of Series A Preferred Stock outstanding, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.01</font> par value.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt">   </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> Since its inception, EyeGate has devoted substantially all of its efforts to business planning, research and development, and raising capital.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> The accompanying Condensed Consolidated Financial Statements have been prepared assuming that EyeGate will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. At March 31, 2017, EyeGate had Cash and Cash Equivalents of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">5,437,671</font>, and an Accumulated Deficit of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">81,518,392</font>. EyeGate has incurred losses and negative cash flows since inception, and future losses are anticipated. The Company anticipates having sufficient cash to fund planned operations for approximately five months, however, the acceleration or reduction of cash outflows by Company management can significantly impact the timing for raising additional capital to complete development of its products. To continue development, EyeGate will need to raise additional capital through equity financing, license agreements, and/or additional U.S. government grants. Although the Company successfully completed its IPO, a follow-on offering, a registered direct offering, and sales under the ATM Agreement, additional capital may not be available on terms favorable to EyeGate, if at all. On May 6, 2016, the SEC declared effective EyeGate’s registration statement on Form S-3, registering a total of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">100,000,000</font> of its securities for sale to the public from time to time in what is known as a “shelf offering”. The Company does not know if any future offerings pursuant to its shelf registration statement will succeed. Accordingly, no assurances can be given that Company management will succeed in these endeavors. The Company’s recurring losses from operations have caused management to determine there is substantial doubt about the Company’s ability to continue as a going concern. The Condensed Consolidated Financial Statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2017Q1 | 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;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <i>Use of Estimates</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> The preparation of financial statements in conformity with U.S. GAAP requires management to make significant 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 expenses during the reporting periods. The Company makes significant estimates and assumptions in recording the accruals for its clinical trial and research activities, establishing the useful lives of intangible assets and property and equipment, and conducting impairment reviews of long-lived assets. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Although the Company monitors and regularly assesses these estimates, actual results could differ significantly from these estimates. The Company records changes in estimates in the period that it becomes aware of the change.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2017Q1 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
3285798 | USD |
| CY2017Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P9Y2M12D | |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P7Y | |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0182 | pure |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0182 | pure |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.74 | pure |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.65 | pure |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.72 | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
3.09 | |
| CY2017Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
22862 | USD |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
375747 | USD |
| CY2017Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1007000 | USD |
| CY2016Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1145000 | USD |
| CY2017Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y7M10D | |
| CY2016Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y | |
| CY2017Q1 | eyeg |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue
|
1181000 | USD |
| CY2016Q1 | eyeg |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue
|
1562000 | USD |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
1000 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1800000 | USD |
| CY2017Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
642150 | shares |
| CY2017Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
98319 | USD |
| CY2016Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | USD |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
113360 | USD |
| CY2017Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
276901 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
| CY2017Q1 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
4000000 | USD |
