$TTOO
T2 Biosystems, Inc.

2018 Q1 Form 10-K Financial Statement

#000156459018006225 Filed on March 19, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2017 Q3
Revenue $2.311M $1.661M $1.108M
YoY Change 145.59% 82.53% 2.21%
Cost Of Revenue $3.273M $6.306M $2.106M
YoY Change 101.17% 190.47% 11.19%
Gross Profit -$962.0K -$4.645M -$998.0K
YoY Change 40.23% 268.36% 23.21%
Gross Profit Margin -41.63% -279.65% -90.07%
Selling, General & Admin $5.755M $5.565M $5.559M
YoY Change -2.03% -3.97% -6.34%
% of Gross Profit
Research & Development $4.718M $4.156M $5.880M
YoY Change -28.35% -28.97% 13.08%
% of Gross Profit
Depreciation & Amortization $629.0K $750.0K $760.0K
YoY Change -9.37% 15.38% 35.71%
% of Gross Profit
Operating Expenses $10.47M $9.721M $11.44M
YoY Change -15.94% -16.53% 2.73%
Operating Profit -$11.44M -$14.37M -$12.44M
YoY Change -13.01% 11.3% 4.12%
Interest Expense -$1.568M -$3.900M -$1.718M
YoY Change -4.22% 132.14% 95.23%
% of Operating Profit
Other Income/Expense, Net $90.00K $70.00K $79.00K
YoY Change 13.92% 75.0% 97.5%
Pretax Income -$12.91M -$18.19M -$14.08M
YoY Change -12.18% 25.02% 10.17%
Income Tax
% Of Pretax Income
Net Earnings -$12.91M -$18.19M -$14.08M
YoY Change -12.17% 25.05% 10.11%
Net Earnings / Revenue -558.76% -1095.3% -1270.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$358.8K -$506.7K -$448.1K
COMMON SHARES
Basic Shares Outstanding 36.02M 30.76M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.73M $41.80M $52.90M
YoY Change -49.46% -43.12% -29.57%
Cash & Equivalents $29.73M $41.80M $52.90M
Short-Term Investments
Other Short-Term Assets $630.0K $710.0K $750.0K
YoY Change -32.26% -13.41% -21.88%
Inventory $2.082M $1.344M $1.250M
Prepaid Expenses
Receivables $582.0K $467.0K $440.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $33.02M $44.32M $55.35M
YoY Change -45.55% -41.25% -28.84%
LONG-TERM ASSETS
Property, Plant & Equipment $8.710M $10.02M $13.85M
YoY Change -39.8% -26.3% 1.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $206.0K $268.0K $480.0K
YoY Change -26.43% -4.63% -18.64%
Total Long-Term Assets $9.096M $10.54M $14.33M
YoY Change -39.39% -25.39% 0.77%
TOTAL ASSETS
Total Short-Term Assets $33.02M $44.32M $55.35M
Total Long-Term Assets $9.096M $10.54M $14.33M
Total Assets $42.12M $54.86M $69.68M
YoY Change -44.33% -38.75% -24.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $779.0K $648.0K $990.0K
YoY Change -32.9% -32.64% 10.0%
Accrued Expenses $5.606M $6.218M $5.510M
YoY Change 38.08% 26.69% 9.33%
Deferred Revenue $1.736M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $41.30M $40.70M $1.420M
YoY Change 3028.79% 3104.72% -87.65%
Total Short-Term Liabilities $50.92M $51.78M $10.25M
YoY Change 471.32% 423.84% -44.74%
LONG-TERM LIABILITIES
Long-Term Debt $610.0K $1.010M $40.09M
YoY Change -98.47% -97.44% 88.66%
Other Long-Term Liabilities $680.0K $730.0K $467.0K
YoY Change 288.57% 1389.8% -71.52%
Total Long-Term Liabilities $1.290M $1.740M $467.0K
YoY Change 637.14% 3451.02% -97.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.92M $51.78M $10.25M
Total Long-Term Liabilities $1.290M $1.740M $467.0K
Total Liabilities $52.21M $53.52M $10.71M
YoY Change 474.49% 438.76% -74.14%
SHAREHOLDERS EQUITY
Retained Earnings -$278.9M -$266.1M
YoY Change 27.72% 30.65%
Common Stock $268.8M $267.5M
YoY Change 9.99% 10.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.09M $1.340M $18.13M
YoY Change
Total Liabilities & Shareholders Equity $42.12M $54.86M $69.68M
YoY Change -44.33% -38.75% -24.26%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$12.91M -$18.19M -$14.08M
YoY Change -12.17% 25.05% 10.11%
Depreciation, Depletion And Amortization $629.0K $750.0K $760.0K
YoY Change -9.37% 15.38% 35.71%
Cash From Operating Activities -$11.74M -$11.08M -$11.66M
YoY Change -7.96% 7.57% 2.73%
INVESTING ACTIVITIES
Capital Expenditures $56.00K $120.0K -$130.0K
YoY Change -96.49% -113.33% -90.85%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$56.00K $120.0K -$130.0K
YoY Change -96.49% -113.33% -90.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -348.0K -140.0K 18.56M
YoY Change 10.83% -101.46% -50.73%
NET CHANGE
Cash From Operating Activities -11.74M -11.08M -11.66M
Cash From Investing Activities -56.00K 120.0K -130.0K
Cash From Financing Activities -348.0K -140.0K 18.56M
Net Change In Cash -12.15M -11.10M 6.770M
YoY Change -17.18% 580.98% -72.81%
FREE CASH FLOW
Cash From Operating Activities -$11.74M -$11.08M -$11.66M
Capital Expenditures $56.00K $120.0K -$130.0K
Free Cash Flow -$11.80M -$11.20M -$11.53M
YoY Change -17.8% 19.15% 16.11%

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<div> <p style="margin-top:12pt;margin-bottom:0pt;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-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.25%;">T2 Biosystems, Inc. (the &#8220;Company&#8221;) 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, or 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, or CFU/mL. The Company&#8217;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 (&#8220;FDA&#8221;) for its first two products, the T2Dx Instrument (the &#8220;T2Dx&#8221;) and T2Candida Panel (&#8220;T2Candida&#8221;).&nbsp;&nbsp;On June 30, 2017, the Company received a CE Mark for its T2Bacteria Panel (&#8220;T2Bacteria&#8221;).&nbsp;&nbsp;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-top:12pt;margin-bottom:0pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has devoted substantially all of its efforts to research and development, business planning, recruiting management and technical staff, acquiring operating assets, raising capital, and, most recently, the commercialization and improvement of its existing products.</p> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Liquidity and Going Concern</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At December 31, 2017, the Company has cash and cash equivalents of $41.8 million and an accumulated deficit of $266.1 million. The future success of the Company is dependent on its ability to successfully commercialize its products, obtain regulatory clearance for and successfully launch its future product candidates, 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 (&#8220;CMPO&#8221;), its September 2016 private investment in public equity (&#8220;PIPE&#8221;) financing, its September 2017 CMPO, private placements of redeemable convertible preferred stock and debt financing arrangements.&#160;</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.25%;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&#8217;s products, development and market acceptance of the Company&#8217;s product candidates, development by its competitors of new technological innovations, protection of proprietary technology, and raising additional capital.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Having obtained clearance from the FDA and a CE mark in Europe to market the T2Dx and T2Candida, the Company has incurred significant commercialization expenses related to product sales, marketing, manufacturing and distribution. In addition, the Company anticipates costs and expenses to increase as the Company continues to develop other product candidates, improve existing products 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&#8217;s failure to raise capital or enter into such other arrangements if and when needed would have a negative impact on the Company&#8217;s business, results of operations and financial condition and the Company&#8217;s ability to develop and commercialize T2Dx, T2Candida, T2Bacteria, and other product candidates.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of Accounting Standards Codification (ASC) 205-40, <font style="font-style:italic;">Disclosure of Uncertainties about an Entity&#8217;s Ability to Continue as a Going Concern</font>, management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company&#8217;s ability to continue as a going concern within one year after the date that the financial statements are issued. This evaluation initially does not take into consideration the potential mitigating effect of management&#8217;s plans that have not been fully implemented as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company&#8217;s ability to continue as a going concern. The mitigating effect of management&#8217;s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued, and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity&#8217;s ability to continue as a going concern within one year after the date that the financial statements are issued. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.25%;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 December 31, 2017, together with funding available under the Term Loan Agreement, will be sufficient to allow the Company to fund its current operating plan through March 2019.&nbsp;&nbsp;However, as certain elements of the Company&#8217;s operating plan are outside of the Company&#8217;s control, including the approval of the Company&#8217;s T2Bacteria Panel and receipt of certain development and regulatory milestone payments under the Company&#8217;s Co-Development agreements, they cannot be considered probable.&nbsp;&nbsp;Under ASC 205-40, the future receipt of potential funding from the Company&#8217;s Co-Development partners and other resources cannot be considered probable at this time because none of the plans are entirely within the Company&#8217;s control. In addition, the Company is required to maintain a minimum cash balance under its Term Loan Agreement with CRG Servicing LLC (&#8220;CRG&#8221;) (Note 6).</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">These conditions raise substantial doubt regarding the Company&#8217;s ability to continue as a going concern for a period of one year after the date that the financial statements are issued. Management's plans to alleviate the conditions that raise substantial doubt include raising additional funding, earning milestone payments pursuant the Company&#8217;s Co- Development agreements, delaying certain research projects and capital expenditures and eliminating 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.&nbsp;&nbsp;Management has concluded the likelihood that its plan to obtain sufficient funding from one or more of these sources or adequately reduce expenditures will be successful, while reasonably possible, is less than probable.&nbsp;&nbsp;Accordingly, the Company has concluded that substantial doubt exists about the Company&#8217;s ability to continue as a going concern for a period of at least twelve months from the date of issuance of these consolidated financial statements.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></div>
CY2017 us-gaap Use Of Estimates
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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.25%;">The preparation of the Company&#8217;s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company utilizes certain estimates in the determination of the fair value of its stock options, deferred tax valuation allowances, revenue recognition, to record expenses relating to research and development contracts, accrued expenses, the fair value of a derivative liability and to classify the value of instrument raw material and work-in-process inventory between inventory and property and equipment. The Company bases its estimates on historical experience and other market<font style="font-family:MS Mincho;">&#8209;</font>specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from such estimates.</p></div>
CY2017 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div> <p style="margin-top:18pt;margin-bottom:0pt;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-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.25%;">As permitted under Delaware law, the Company indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company&#8217;s request in such capacity. The term of the indemnification is for the officer&#8217;s or director&#8217;s lifetime. The maximum potential amount of future payments the Company could be required to make is unlimited; however, the Company has directors&#8217; and officers&#8217; insurance coverage that limits its exposure and enables it to recover a portion of any future amounts paid.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.25%;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 landlord 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&#8217;s leases.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.25%;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&#8217;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-top:12pt;margin-bottom:0pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of December&#160;31, 2017 and 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>
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1015000
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CY2017 ttoo Common Stock Number Of Votes Per Share
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P2Y3M18D
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CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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4843780
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3484298
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0.350
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0.350
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0.052
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EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.013
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2723000
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3214000
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5088000
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2127000
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0
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-6400000
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22100000
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18900000
CY2017Q4 us-gaap Unrecognized Tax Benefits
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0
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0
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0
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1926000
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1900000
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LeaseAndRentalExpense
1800000
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1600000
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30000
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31000
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34000
us-gaap Stock Issued During Period Shares Issued For Services
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84678
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190000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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237000
CY2015 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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0
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631000
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SalesRevenueGoodsNet
735000
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SalesRevenueGoodsNet
739000
CY2017Q4 us-gaap Sales Revenue Goods Net
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1335000
CY2017Q1 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
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310000
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221000
CY2017Q3 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
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369000
CY2017Q4 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
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326000
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941000
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956000
CY2017Q3 us-gaap Sales Revenue Net
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1108000
CY2017Q4 us-gaap Sales Revenue Net
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1661000
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1627000
CY2017Q2 us-gaap Cost Of Goods Sold
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1989000
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2106000
CY2017Q4 us-gaap Cost Of Goods Sold
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6306000
CY2017Q1 us-gaap Research And Development Expense
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6585000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7112000
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5880000
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4156000
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5874000
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5759000
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5559000
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5565000
CY2017Q1 us-gaap Costs And Expenses
CostsAndExpenses
14086000
CY2017Q2 us-gaap Costs And Expenses
CostsAndExpenses
14860000
CY2017Q3 us-gaap Costs And Expenses
CostsAndExpenses
13545000
CY2017Q4 us-gaap Costs And Expenses
CostsAndExpenses
16027000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-13145000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13904000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-12437000
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-14366000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-14703000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-15456000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-14076000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-18193000
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.48
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.50
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.45
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.51
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
437000
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
151000
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
580000
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
579000
CY2016Q1 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
659000
CY2016Q2 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
839000
CY2016Q3 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
504000
CY2016Q4 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
331000
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1096000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
990000
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1084000
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
910000
CY2016Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1026000
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1781000
CY2016Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1894000
CY2016Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
2171000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6589000
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6369000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5200000
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5851000
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6204000
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6143000
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5935000
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5795000
CY2016Q1 us-gaap Costs And Expenses
CostsAndExpenses
13819000
CY2016Q2 us-gaap Costs And Expenses
CostsAndExpenses
14293000
CY2016Q3 us-gaap Costs And Expenses
CostsAndExpenses
13029000
CY2016Q4 us-gaap Costs And Expenses
CostsAndExpenses
13817000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-12723000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13303000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-11945000
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-12907000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-13426000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-14046000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-12783000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-14549000
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.55
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.58
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.51
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.48

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