2017 Q3 Form 10-Q Financial Statement
#000156459017021350 Filed on November 03, 2017
Income Statement
| Concept | 2017 Q3 | 2016 Q3 |
|---|---|---|
| Revenue | $1.108M | $1.084M |
| YoY Change | 2.21% | 3.24% |
| Cost Of Revenue | $2.106M | $1.894M |
| YoY Change | 11.19% | 128.19% |
| Gross Profit | -$998.0K | -$810.0K |
| YoY Change | 23.21% | -468.18% |
| Gross Profit Margin | -90.07% | -74.72% |
| Selling, General & Admin | $5.559M | $5.935M |
| YoY Change | -6.34% | 14.58% |
| % of Gross Profit | ||
| Research & Development | $5.880M | $5.200M |
| YoY Change | 13.08% | -16.13% |
| % of Gross Profit | ||
| Depreciation & Amortization | $760.0K | $560.0K |
| YoY Change | 35.71% | 47.37% |
| % of Gross Profit | ||
| Operating Expenses | $11.44M | $11.14M |
| YoY Change | 2.73% | -2.15% |
| Operating Profit | -$12.44M | -$11.95M |
| YoY Change | 4.12% | 7.03% |
| Interest Expense | -$1.718M | -$880.0K |
| YoY Change | 95.23% | 76.0% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $79.00K | $40.00K |
| YoY Change | 97.5% | 100.0% |
| Pretax Income | -$14.08M | -$12.78M |
| YoY Change | 10.17% | 9.79% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$14.08M | -$12.78M |
| YoY Change | 10.11% | 9.82% |
| Net Earnings / Revenue | -1270.4% | -1179.24% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$448.1K | -$510.6K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 30.76M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2017 Q3 | 2016 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $52.90M | $75.11M |
| YoY Change | -29.57% | 87.21% |
| Cash & Equivalents | $52.90M | $75.11M |
| Short-Term Investments | ||
| Other Short-Term Assets | $750.0K | $960.0K |
| YoY Change | -21.88% | -12.73% |
| Inventory | $1.250M | $1.340M |
| Prepaid Expenses | ||
| Receivables | $440.0K | $380.0K |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $55.35M | $77.78M |
| YoY Change | -28.84% | 82.33% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $13.85M | $13.63M |
| YoY Change | 1.61% | 44.23% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $480.0K | $590.0K |
| YoY Change | -18.64% | -42.16% |
| Total Long-Term Assets | $14.33M | $14.22M |
| YoY Change | 0.77% | 35.95% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $55.35M | $77.78M |
| Total Long-Term Assets | $14.33M | $14.22M |
| Total Assets | $69.68M | $92.00M |
| YoY Change | -24.26% | 73.19% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $990.0K | $900.0K |
| YoY Change | 10.0% | -9.09% |
| Accrued Expenses | $5.510M | $5.040M |
| YoY Change | 9.33% | 17.48% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $1.420M | $11.50M |
| YoY Change | -87.65% | 709.86% |
| Total Short-Term Liabilities | $10.25M | $18.54M |
| YoY Change | -44.74% | 119.41% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $40.09M | $21.25M |
| YoY Change | 88.66% | 9.88% |
| Other Long-Term Liabilities | $467.0K | $1.640M |
| YoY Change | -71.52% | 7.89% |
| Total Long-Term Liabilities | $467.0K | $22.89M |
| YoY Change | -97.96% | 9.73% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $10.25M | $18.54M |
| Total Long-Term Liabilities | $467.0K | $22.89M |
| Total Liabilities | $10.71M | $41.42M |
| YoY Change | -74.14% | 41.32% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $18.13M | $50.58M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $69.68M | $92.00M |
| YoY Change | -24.26% | 73.19% |
Cashflow Statement
| Concept | 2017 Q3 | 2016 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$14.08M | -$12.78M |
| YoY Change | 10.11% | 9.82% |
| Depreciation, Depletion And Amortization | $760.0K | $560.0K |
| YoY Change | 35.71% | 47.37% |
| Cash From Operating Activities | -$11.66M | -$11.35M |
| YoY Change | 2.73% | 0.8% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$130.0K | -$1.420M |
| YoY Change | -90.85% | -26.04% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | |
| YoY Change | ||
| Cash From Investing Activities | -$130.0K | -$1.420M |
| YoY Change | -90.85% | -26.04% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 18.56M | 37.67M |
| YoY Change | -50.73% | -376800.0% |
| NET CHANGE | ||
| Cash From Operating Activities | -11.66M | -11.35M |
| Cash From Investing Activities | -130.0K | -1.420M |
| Cash From Financing Activities | 18.56M | 37.67M |
| Net Change In Cash | 6.770M | 24.90M |
| YoY Change | -72.81% | -288.78% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$11.66M | -$11.35M |
| Capital Expenditures | -$130.0K | -$1.420M |
| Free Cash Flow | -$11.53M | -$9.930M |
| YoY Change | 16.11% | 6.32% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
30873930 | ||
| CY2017Q3 | us-gaap |
Deferred Rent Credit Current
DeferredRentCreditCurrent
|
247000 | |
| CY2017Q3 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
2076000 | |
| CY2017Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
10245000 | |
| CY2017Q3 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
40089000 | |
| CY2017Q3 | us-gaap |
Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
|
751000 | |
| CY2017Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
467000 | |
| CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
49000 | |
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
2105000 | ||
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
1168000 | ||
| CY2017Q3 | us-gaap |
Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
369000 | |
| CY2016Q3 | us-gaap |
Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
504000 | |
| us-gaap |
Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
|
900000 | ||
| CY2017Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1108000 | |
| CY2016Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1084000 | |
| CY2016Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
13029000 | |
| CY2017Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
2106000 | |
| CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12437000 | |
| CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-12783000 | |
| CY2017Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.45 | |
| CY2016Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.51 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-1.43 | ||
| CY2017Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
31420726 | |
| CY2016Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
25027751 | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2194000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1626000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3806000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3659000 | ||
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-134000 | ||
| us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
1968000 | ||
| us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
459000 | ||
| us-gaap |
Straight Line Rent
StraightLineRent
|
95000 | ||
| us-gaap |
Straight Line Rent
StraightLineRent
|
187000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
115000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
10000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-129000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
118000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
361000 | ||
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
451000 | ||
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
654000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
31000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-132000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
797000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-369000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-1328000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-36641000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-36143000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
843000 | ||
| us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
1758000 | ||
| us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
4594000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2601000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4594000 | ||
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
37000 | ||
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
385000 | ||
| ttoo |
Proceeds From Issuance Of Common Stock And Stock Options Exercised
ProceedsFromIssuanceOfCommonStockAndStockOptionsExercised
|
717000 | ||
| ttoo |
Proceeds From Issuance Of Common Stock And Stock Options Exercised
ProceedsFromIssuanceOfCommonStockAndStockOptionsExercised
|
736000 | ||
| ttoo |
Proceeds From Issuance Of Private Placement Net
ProceedsFromIssuanceOfPrivatePlacementNet
|
37000 | ||
| us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
39723000 | ||
| ttoo |
Proceeds From Issuance Of Confidentially Marketed Public Offering
ProceedsFromIssuanceOfConfidentiallyMarketedPublicOffering
|
18832000 | ||
| us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
4593000 | ||
| us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
898000 | ||
| us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
2481000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
18651000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
42186000 | ||
| us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
-20591000 | ||
| us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
1449000 | ||
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
73662000 | |
| CY2016Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
75111000 | |
| us-gaap |
Interest Paid
InterestPaid
|
2967000 | ||
| us-gaap |
Interest Paid
InterestPaid
|
1881000 | ||
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
90000 | ||
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
133000 | ||
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of Business </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">T2 Biosystems, Inc. (the “Company”) was incorporated on April 27, 2006 as a Delaware corporation with operations based in Lexington, Massachusetts. The Company is an <font style="font-style:italic;">in vitro</font> diagnostics company that has developed an innovative and proprietary technology platform that offers a rapid, sensitive and simple alternative to existing diagnostic methodologies. The Company is using its T2 Magnetic Resonance technology (“T2MR”) to develop a broad set of applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. T2MR enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as low as one colony forming unit per milliliter (“CFU/mL”). The Company’s initial development efforts target sepsis and lyme disease, which are areas of significant unmet medical need in which existing therapies could be more effective with improved diagnostics. On September 22, 2014, the Company received market clearance from the U.S. Food and Drug Administration (“FDA”) for its first two products, the T2Dx Instrument (the “T2Dx”) and T2Candida Panel (“T2Candida”). On June 30, 2017 the Company received a CE Mark for its T2Bacteria Panel (“T2Bacteria”). On September 8, 2017 the Company filed a 510(k) premarket submission for the T2Bacteria Panel with the U.S. Food and Drug Administration (FDA).</p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Liquidity </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At September 30, 2017, the Company had cash and cash equivalents of $52.9 million and an accumulated deficit of $247.9 million. The future success of the Company is dependent on its ability to successfully commercialize its FDA approved products, obtain regulatory clearance for and successfully launch its future product candidates, including T2Bacteria, obtain additional capital and ultimately attain profitable operations. Historically, the Company has funded its operations primarily through its August 2014 initial public offering, its December 2015 confidentially marketed public offering (“CMPO”), its September 2016 private investment in public equity (“PIPE”) financing, its September 2017 CMPO, private placements of redeemable convertible preferred stock and through debt financing arrangements.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to a number of risks similar to other newly commercial life science companies, including, but not limited to commercially launching the Company’s products, development and market acceptance of the Company’s product candidates, development by its competitors of new technological innovations, protection of proprietary technology, and raising additional capital. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Having obtained authorization from the FDA to market T2Dx and T2Candida, the Company has incurred significant commercialization expenses related to product sales, marketing, manufacturing and distribution. The Company will continue the research and development of other product candidates and maintain, expand and protect its intellectual property portfolio. The Company may seek to fund its operations through public equity or private equity or debt financings, as well as other sources. However, the Company may be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all. The Company’s failure to raise capital or enter into such other arrangements if and when needed would have a negative impact on the Company’s business, results of operations and financial condition and the Company’s ability to develop and commercialize T2Dx, T2Candida, T2Bacteria and other product candidates. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Management believes that its existing cash and cash equivalents at September 30, 2017, together with the additional remaining liquidity on the Company’s Term Loan Agreement of up to an additional $10.0 million, will be sufficient to allow the Company to fund its current operating plan through early 2019. <font style="font-size:12pt;"> </font>The borrowing on the Term Loan Agreement is available at any time through July 27, 2018, and is subject to certain conditions including that the Company receive 510(k) clearance for the marketing of T2Bacteria by the FDA by April 30, 2018 (see Note 5). Should the Company’s current operating plan not materialize as expected, including the Company’s ability to draw additional borrowings on the Term Loan Agreement on a timely basis, the Company would delay certain research projects and capital expenditures and reduce or eliminate certain future operating expenses in order to fund operations at reduced levels for the Company to continue as a going concern for a period of 12 months from the date the financial statements are issued. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For more information, refer to the section titled “Liquidity and Capital Resources” in Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section entitled “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2016, for additional risks associated with our capital needs.</p></div> | ||
| us-gaap |
Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
|
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Guarantees </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">As permitted under Delaware law, the Company indemnifies its officers and directors for certain events or occurrences while each such officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification is the officer’s or director’s lifetime. The maximum potential amount of future payments the Company could be required to make is unlimited; however, the Company has directors’ and officers’ liability insurance coverage that limits its exposure and enables the Company to recover a portion of any future amounts paid. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company leases office, laboratory and manufacturing space under noncancelable operating leases. The Company has standard indemnification arrangements under the leases that require it to indemnify the landlords against all costs, expenses, fines, suits, claims, demands, liabilities, and actions directly resulting from any breach, violation or nonperformance of any covenant or condition of the Company’s leases. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the ordinary course of business, the Company enters into indemnification agreements with certain suppliers and business partners where the Company has certain indemnification obligations limited to the costs, expenses, fines, suits, claims, demands, liabilities and actions directly resulting from the Company’s gross negligence or willful misconduct, and in certain instances, breaches, violations or nonperformance of covenants or conditions under the agreements. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of September 30, 2017 and December 31, 2016, the Company had not experienced any material losses related to these indemnification obligations, and no material claims with respect thereto were outstanding. The Company does not expect significant claims related to these indemnification obligations and, consequently, concluded that the fair value of these obligations is negligible, and no related reserves were established. </p></div> | ||
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
| CY2017Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
500000 | |
| CY2016Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
389000 | |
| CY2017Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
476000 | |
| CY2016Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
351000 | |
| CY2017Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
278000 | |
| CY2016Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
63000 | |
| CY2017Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
22329000 | |
| CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
20655000 | |
| CY2017Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
8475000 | |
| CY2016Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
7066000 | |
| CY2017Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2875000 | |
| CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2479000 | |
| CY2017Q3 | ttoo |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
1038000 | |
| CY2016Q4 | ttoo |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
846000 | |
| CY2017Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
987000 | |
| CY2016Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
884000 | |
| CY2017Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
613000 | |
| CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
699000 | |
| CY2017Q3 | us-gaap |
Notes Payable
NotesPayable
|
41505000 | |
| CY2016Q4 | us-gaap |
Notes Payable
NotesPayable
|
40773000 | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
3500000 | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
3700000 | ||
| CY2017Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
5200000 | |
| us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y2M27D | ||
| CY2017Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1220000 | |
| CY2016Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1098000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3689000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3560000 | ||
| CY2017Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5112578 | |
| CY2016Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4263094 |
