2017 Q2 Form 10-Q Financial Statement
#000117825317000015 Filed on August 08, 2017
Income Statement
Concept | 2017 Q2 | 2016 Q4 | 2016 Q2 |
---|---|---|---|
Revenue | $64.00K | $65.00K | $64.00K |
YoY Change | 0.0% | 1.56% | 0.0% |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $2.361M | $1.910M | $1.673M |
YoY Change | 41.12% | -24.8% | -48.92% |
% of Gross Profit | |||
Research & Development | $4.448M | $3.780M | $6.659M |
YoY Change | -33.2% | -36.15% | 102.89% |
% of Gross Profit | |||
Depreciation & Amortization | $40.00K | $20.00K | $10.00K |
YoY Change | 300.0% | -91.94% | |
% of Gross Profit | |||
Operating Expenses | $6.809M | $5.700M | $8.332M |
YoY Change | -18.28% | -32.54% | 27.07% |
Operating Profit | -$6.745M | -$5.631M | -$8.268M |
YoY Change | -18.42% | -32.86% | 27.34% |
Interest Expense | $360.0K | $2.180M | $0.00 |
YoY Change | -100.0% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $2.546M | $0.00 | $140.0K |
YoY Change | 1718.57% | 13900.0% | |
Pretax Income | -$4.200M | -$3.450M | -$8.130M |
YoY Change | -48.34% | -58.88% | 25.27% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$4.199M | -$3.449M | -$8.128M |
YoY Change | -48.34% | -58.88% | -14.42% |
Net Earnings / Revenue | -6560.94% | -5306.15% | -12700.0% |
Basic Earnings Per Share | -$0.56 | ||
Diluted Earnings Per Share | -$1.628M | -$1.426M | -$5.568M |
COMMON SHARES | |||
Basic Shares Outstanding | 25.80M shares | 23.99M shares | 23.42M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2017 Q2 | 2016 Q4 | 2016 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $49.30M | $58.60M | $50.30M |
YoY Change | -1.99% | 24.68% | -11.91% |
Cash & Equivalents | $7.450M | $35.66M | $37.87M |
Short-Term Investments | $41.90M | $22.90M | $12.50M |
Other Short-Term Assets | $24.00K | $41.00K | $60.00K |
YoY Change | -60.0% | 7.89% | -92.28% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $50.85M | $59.33M | $52.74M |
YoY Change | -3.57% | 22.48% | -18.42% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $652.0K | $120.0K | $426.0K |
YoY Change | 53.05% | -71.36% | 1190.91% |
Total Long-Term Assets | $981.0K | $465.0K | $786.0K |
YoY Change | 24.81% | -44.38% | 2281.82% |
TOTAL ASSETS | |||
Total Short-Term Assets | $50.85M | $59.33M | $52.74M |
Total Long-Term Assets | $981.0K | $465.0K | $786.0K |
Total Assets | $51.84M | $59.79M | $53.52M |
YoY Change | -3.16% | 21.35% | -17.25% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.738M | $2.192M | $1.136M |
YoY Change | 52.99% | 254.12% | 138.16% |
Accrued Expenses | $1.329M | $1.268M | $2.910M |
YoY Change | -54.33% | -59.73% | 2.65% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $1.349M | $0.00 | |
YoY Change | |||
Total Short-Term Liabilities | $4.673M | $3.717M | $4.523M |
YoY Change | 3.32% | -44.22% | -35.85% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $13.10M | $14.25M | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $2.400M | $7.000M | $5.100M |
YoY Change | -52.94% | 900.0% | 466.67% |
Total Long-Term Liabilities | $13.10M | $14.25M | $5.100M |
YoY Change | 156.92% | 466.67% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.673M | $3.717M | $4.523M |
Total Long-Term Liabilities | $13.10M | $14.25M | $5.100M |
Total Liabilities | $20.18M | $24.97M | $9.649M |
YoY Change | 109.13% | 240.97% | 22.05% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$189.3M | -$180.1M | -$165.4M |
YoY Change | 14.39% | 19.97% | 24.03% |
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $31.66M | $34.82M | $43.88M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $51.84M | $59.79M | $53.52M |
YoY Change | -3.16% | 21.35% | -17.25% |
Cashflow Statement
Concept | 2017 Q2 | 2016 Q4 | 2016 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$4.199M | -$3.449M | -$8.128M |
YoY Change | -48.34% | -58.88% | -14.42% |
Depreciation, Depletion And Amortization | $40.00K | $20.00K | $10.00K |
YoY Change | 300.0% | -91.94% | |
Cash From Operating Activities | -$7.380M | -$4.550M | -$8.990M |
YoY Change | -17.91% | -24.04% | 8.71% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | -$10.00K | $0.00 |
YoY Change | -75.0% | -100.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$6.970M | $5.620M | -$12.47M |
YoY Change | -44.11% | -1618.92% | |
Cash From Investing Activities | -$6.970M | $5.630M | -$12.48M |
YoY Change | -44.15% | -1473.17% | 3366.67% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.880M | 4.780M | 21.31M |
YoY Change | -91.18% | -1357.89% | -44.01% |
NET CHANGE | |||
Cash From Operating Activities | -7.380M | -4.550M | -8.990M |
Cash From Investing Activities | -6.970M | 5.630M | -12.48M |
Cash From Financing Activities | 1.880M | 4.780M | 21.31M |
Net Change In Cash | -12.47M | 5.860M | -160.0K |
YoY Change | 7693.75% | -186.43% | -100.54% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$7.380M | -$4.550M | -$8.990M |
Capital Expenditures | $0.00 | -$10.00K | $0.00 |
Free Cash Flow | -$7.380M | -$4.540M | -$8.990M |
YoY Change | -17.91% | -23.7% | 13.65% |
Facts In Submission
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---|---|---|---|---|
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Q2 | ||
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Document Fiscal Year Focus
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2017 | ||
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Document Period End Date
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2017-06-30 | ||
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Document Type
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10-Q | ||
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|
150000 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
0 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
709000 | USD | |
us-gaap |
Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
|
0 | USD | |
us-gaap |
Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
|
165000 | USD | |
CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
24973000 | USD |
CY2017Q2 | us-gaap |
Liabilities
Liabilities
|
20179000 | USD |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
59792000 | USD |
CY2017Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
51835000 | USD |
CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
3717000 | USD |
CY2017Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4673000 | USD |
CY2017Q2 | us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
100000 | USD |
us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
100000 | USD | |
CY2016Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
0 | USD |
CY2017Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1349000 | USD |
CY2016Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
14252000 | USD |
CY2017Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
13103000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
21317000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
5074000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12486000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-19127000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-17951000 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
3688000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-14153000 | USD | |
CY2016Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8128000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-15312000 | USD | |
CY2017Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4199000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-9070000 | USD | |
CY2016Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
140000 | USD |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y1M24D | ||
CY2016Q4 | us-gaap |
Nontrade Receivables Current
NontradeReceivablesCurrent
|
233000 | USD |
CY2016Q4 | us-gaap |
Nontrade Receivables Current
NontradeReceivablesCurrent
|
200000 | USD |
CY2017Q2 | us-gaap |
Nontrade Receivables Current
NontradeReceivablesCurrent
|
300000 | USD |
CY2017Q2 | us-gaap |
Nontrade Receivables Current
NontradeReceivablesCurrent
|
251000 | USD |
CY2016Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
8332000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
15609000 | USD | |
CY2017Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
6809000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
12887000 | USD | |
CY2016Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-8268000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-15480000 | USD | |
CY2017Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-6745000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12758000 | USD | |
CY2017Q2 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
337000 | USD |
CY2017Q2 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
0 | USD |
CY2017Q2 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
182000 | USD |
CY2017Q2 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
155000 | USD |
CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
198000 | USD |
CY2017Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
324000 | USD |
CY2016Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
41000 | USD |
CY2017Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
24000 | USD |
CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
120000 | USD |
CY2017Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
652000 | USD |
CY2016Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
71000 | USD |
CY2017Q2 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
97000 | USD |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
1765000 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
168000 | USD | |
us-gaap |
Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
|
12472000 | USD | |
us-gaap |
Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
|
44622000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
14000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2000 | USD | |
CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2017Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
CY2017Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Value Outstanding
PreferredStockValueOutstanding
|
0 | USD |
CY2017Q2 | us-gaap |
Preferred Stock Value Outstanding
PreferredStockValueOutstanding
|
0 | USD |
CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
741000 | USD |
CY2017Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1514000 | USD |
CY2016Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
243000 | USD |
CY2017Q2 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
537000 | USD |
us-gaap |
Proceeds From Interest Received
ProceedsFromInterestReceived
|
67000 | USD | |
us-gaap |
Proceeds From Interest Received
ProceedsFromInterestReceived
|
307000 | USD | |
CY2017Q2 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
2802174 | shares |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
23077000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5224000 | USD | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
|
5000 | USD | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
|
18000 | USD | |
CY2013Q3 | us-gaap |
Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
|
1500000 | USD |
us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
0 | USD | |
us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
25497000 | USD | |
CY2016Q2 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | USD |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | USD | |
CY2017Q2 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | USD |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | USD | |
us-gaap |
Profit Loss
ProfitLoss
|
-15312000 | USD | |
us-gaap |
Profit Loss
ProfitLoss
|
-9070000 | USD | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
111000 | USD | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | USD | |
CY2016Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
6659000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
11402000 | USD | |
CY2017Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4448000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8467000 | USD | |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-180123000 | USD |
CY2017Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-189260000 | USD |
CY2016Q2 | us-gaap |
Revenues
Revenues
|
64000 | USD |
us-gaap |
Revenues
Revenues
|
129000 | USD | |
CY2017Q2 | us-gaap |
Revenues
Revenues
|
64000 | USD |
us-gaap |
Revenues
Revenues
|
129000 | USD | |
CY2016Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1673000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4207000 | USD | |
CY2017Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2361000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4420000 | USD | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
9.64 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
73 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
982803 | shares | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
32000 | USD |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
2000 | USD |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1819444 | shares |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2802174 | shares |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
7.52 | |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.96 | |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
0 | USD |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
1331565 | shares |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
|
7.72 | |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
2000 | USD |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
2802174 | shares |
CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
5.96 | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0.00 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
3.07 | ||
CY2016Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
1819444 | shares |
CY2017Q2 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
2200000 | USD |
CY2016 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y11M23D | |
CY2016Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
14590733 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
14248166 | shares | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
25813675 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
25590293 | shares | |
CY2017Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
31656000 | USD |
CY2016Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
6601000 | USD |
CY2017Q2 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
2154000 | USD |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
|
P5Y8M27D | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P7Y1M24D | ||
us-gaap |
Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
|
0 | USD | |
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares | |
us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
18000 | USD | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
5056000 | USD | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
34819000 | USD |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:normal;text-decoration:none;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Financial instruments, which potentially expose the Company to concentrations of credit risk, consist principally of cash on deposit and cash equivalents held with </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">one</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> bank which exceed FDIC insured limits and certain short-term investments. Ongoing credit evaluations of the customer’s financial condition are performed and independent credit ratings for the associated counterparties are reviewed by the Company and collateral is not required. The Company's money market fund investment (recognized as cash and cash equivalents) is with what the Company believes to be a high quality issuer. The Company has not experienced any losses in such account.</font></div></div> | ||
us-gaap |
Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:normal;text-decoration:none;">Revenue Recognition and Deferred Revenue</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The Company has entered into arrangements involving intellectual property rights, some of which include multiple elements, such as the sale or license of intellectual property and the provision of development services. Under these arrangements, the Company may be entitled to receive development milestone payments and royalties in the form of a designated percentage of product sales. </font></div><div style="line-height:120%;padding-bottom:0px;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The Company assesses these contractual arrangements, and presents costs incurred and payments received in accordance with ASC 808, </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;">Collaborative Arrangements </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">("Topic 808"), when the Company determines that the contractual arrangement includes a joint operating activity, has active participation by both parties, and both parties are subject to significant risks and rewards under the arrangement. When reimbursement payments are due to the Company under a collaborative arrangement within the scope of Topic 808, the Company determines the appropriate classification for each specific reimbursement payment in the statements of operations by considering (i) the nature of the arrangement, (ii) the nature of the Company’s business operations, and (iii) the contractual terms of the arrangement. The Company's August 2013 development, license, and supply agreement with R- Pharm, CJSC (“R-Pharm”), combined with the supplemental arrangement in November 2014, is a collaborative arrangement pursuant to Topic 808.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">When entering into any arrangement involving intellectual property rights, the Company also determines whether the arrangement includes multiple deliverables and is subject to accounting guidance in ASC subtopic 605-25, </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;">Multiple-Element Arrangements</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">. If the Company determines that an arrangement includes multiple elements, it determines whether the arrangement should be divided into separate units of accounting and how the arrangement consideration should be measured and allocated among the separate units of accounting. An element qualifies as a separate unit of accounting when the delivered element has standalone value to the customer. The Company’s arrangements do not include a general right of return relative to delivered elements. Any delivered elements that do not qualify as separate units of accounting are combined with other undelivered elements within the arrangement as a single unit of accounting. If the arrangement constitutes a single combined unit of accounting, the Company determines the revenue recognition method for the combined unit of accounting and recognizes the revenue over the period from inception through the date the last deliverable within the single unit of accounting is delivered.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Non-refundable upfront license fees are recorded as deferred revenue and recognized into revenue on a straight-line basis over the estimated period of the Company’s substantive performance obligations. If the Company does not have substantive performance obligations, the Company recognizes non-refundable upfront fees into revenue through the date the deliverable is satisfied. Analyzing the arrangement to identify deliverables requires the use of judgment and each deliverable may be an obligation to deliver services, a right or license to use an asset, or another performance obligation. In arrangements that include license rights and other non-contingent deliverables, such as participation in a steering committee, these deliverables do not have standalone value because the non-contingent deliverables are dependent on the license rights. That is, the non-contingent deliverables would not have value without the license rights, and only the Company can perform the related services. Upfront license rights and non-contingent deliverables, such as participation in a steering committee, do not have standalone value as they are not sold separately and they cannot be resold. In addition, when non-contingent deliverables are sold with upfront license rights, the license rights do not represent the culmination of a separate earnings process. As such, the Company accounts for the license and the non-contingent deliverables as a single combined unit of accounting. In such instances, the license revenue in the form of non-refundable upfront payments is deferred and recognized over the applicable relationship period, which historically has been the estimated period of the Company’s substantive performance obligations or the period the rights granted are in effect. The Company recognizes contingent event-based payments under license agreements when the payments are received. The Company has not received any royalty payments to date.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The Company will recognize a milestone payment when earned if it is substantive and the Company has </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">no</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> ongoing performance obligations related to the milestone. A milestone payment is considered substantive if it: 1) is commensurate with either the Company’s performance to achieve the milestone or the enhanced value of the delivered item as a result of a specific outcome from the Company’s performance to achieve the milestone; 2) relates solely to past performance; and 3) is reasonable relative to all of the deliverables and payment terms, including other potential milestone consideration, within the arrangement.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Amounts received prior to satisfying all revenue recognition criteria are recorded as deferred revenue in the accompanying balance sheets.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The Company’s deferred revenue includes non-refundable upfront payments received under certain licensing and collaboration arrangements that contain substantive performance obligations that the Company is providing over respective defined service or estimated relationship periods. Such non-refundable upfront payments are recognized over these defined service or estimated relationship periods.</font></div></div> |