Plus Therapeutics (PSTV) 10-Q 14 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 31, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	CYTORI THERAPEUTICS, INC.
Entity Central Index Key	1,095,981
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		13,201,410
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 6,806	$ 9,550
Accounts receivable, net of reserves of $185 in 2018 and $167 in 2017	440	145
Restricted cash	40	675
Inventories, net	2,814	3,183
Other current assets	654	1,311
Total current assets	10,754	14,864
Property and equipment, net	2,648	3,052
Other assets	1,938	2,570
Intangibles, net	6,270	7,207
Goodwill	3,922	3,922
Total assets	25,532	31,615
Current liabilities:
Accounts payable and accrued expenses	3,645	4,790
Term loan obligations, net of discount	14,007	13,624
Total current liabilities	17,652	18,414
Deferred revenues	187	94
Long-term deferred rent and other	83	107
Warrant liability	1,472
Total liabilities	19,394	18,615
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 23,500 shares issued; 4,624 and 2,431 shares outstanding in 2018 and 2017, respectively
Common stock, $0.001 par value; 100,000,000 shares authorized; 11,691,293 and 5,782,573 shares issued and outstanding in 2018 and 2017, respectively	67	58
Additional paid-in capital	417,036	413,304
Accumulated other comprehensive income	1,182	1,387
Accumulated deficit	(412,147)	(401,749)
Total stockholders’ equity	6,138	13,000
Total liabilities and stockholders’ equity	$ 25,532	$ 31,615

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Accounts receivable, reserves	$ 185	$ 167
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	23,500	23,500
Preferred stock, shares outstanding (in shares)	4,624	2,431
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	11,691,293	5,782,573
Common stock, shares outstanding (in shares)	11,691,293	5,782,573

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Product revenues	$ 858	$ 467	$ 2,249	$ 2,027
Cost of product revenues	322	181	918	992
Amortization of intangible assets	306	306	919	919
Gross profit (loss)	230	(20)	412	116
Development revenues:
Government contracts and other	454	1,306	2,270	2,856
Total development revenues	454	1,306	2,270	2,856
Operating expenses:
Research and development	1,916	3,004	6,366	9,284
Sales and marketing	453	840	1,656	3,043
General and administrative	1,486	1,785	5,199	6,012
Change in fair value of warrants	(1,676)		(1,676)	0
Total operating expenses	2,179	5,629	11,545	20,025
Operating loss	(1,495)	(4,343)	(8,863)	(17,053)
Other income (expense):
Interest income	11	5	30	24
Interest expense	(512)	(474)	(1,379)	(1,603)
Other income (expense), net	9	5	157	233
Issuance costs of warrants	(343)		(343)	0
Total other expense	(835)	(464)	(1,535)	(1,346)
Net loss	(2,330)	(4,807)	(10,398)	(18,399)
Beneficial conversion feature for convertible preferred stock	(2,487)		(2,487)
Net loss allocable to common stockholders	$ (4,817)	$ (4,807)	$ (12,885)	$ (18,399)
Basic and diluted net loss per share attributable to common stockholders	$ (0.55)	$ (1.39)	$ (1.85)	$ (6.22)
Basic and diluted weighted average shares used in calculating net loss per share attributable to common stockholders	8,716,194	3,449,083	6,972,615	2,956,403
Comprehensive loss:
Net loss	$ (2,330)	$ (4,807)	$ (10,398)	$ (18,399)
Other comprehensive loss – foreign currency translation adjustments	(55)	16	(205)	(59)
Comprehensive loss	$ (2,385)	$ (4,791)	(10,603)	(18,458)
Assets Purchased from Azaya Therapeutics, Inc. [Member]
Operating expenses:
In process research and development acquired from Azaya Therapeutics			$ 0	$ 1,686

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net loss	$ (10,398)	$ (18,399)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,465	1,618
Amortization of deferred financing costs and debt discount	383	580
Provision for excess inventory	433	413
Allocation of issuance costs associated with warrants	343	0
Change in fair value of warrants	(1,676)	0
Share-based compensation expense	325	588
Loss on asset disposal	23	9
Increases (decreases) in cash caused by changes in operating assets and liabilities:
Accounts receivable	(316)	991
Inventories	615	457
Other current assets	514	(284)
Other assets	7	74
Accounts payable and accrued expenses	(1,274)	(1,746)
Deferred revenues	93	6
Long-term deferred rent	(24)	103
Net cash used in operating activities	(9,487)	(13,904)
Cash flows from investing activities:
Purchases of property and equipment /long-lived assets	(128)	(271)
Proceeds from sale of assets	0	10
Net cash used in investing activities	(128)	(1,462)
Cash flows from financing activities:
Principal payments on long-term obligations	0	(4,720)
Proceeds from sale of common and preferred stock, net	6,246	12,377
Net cash provided by financing activities	6,246	7,657
Effect of exchange rate changes on cash and cash equivalents	(10)	11
Net decrease in cash and cash equivalents	(3,379)	(7,698)
Cash, cash equivalents, and restricted cash at beginning of period	10,225	12,910
Cash, cash equivalents, and restricted cash at end of period	6,846	5,212
Cash paid during period for:
Interest	990	1,059
Supplemental schedule of non-cash investing and financing activities:
Conversion of preferred stock into common stock	7	0
Assets Purchased from Azaya Therapeutics, Inc. [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
In process research and development acquired from Azaya Therapeutics	0	1,686
Cash flows from investing activities:
Purchases of property and equipment /long-lived assets	0	(1,201)
Supplemental schedule of non-cash investing and financing activities:
Common stock issued in payment for the assets acquired	$ 0	$ 2,311

Basis of Presentation and New A

Basis of Presentation and New Accounting Standards	9 Months Ended
	Sep. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and New Accounting Standards	1. Basis of Presentation and New Accounting Standards Our accompanying unaudited consolidated condensed financial statements as of September 30, 2018 and for the three and nine months ended September 30, 2018 and 2017 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. Our consolidated condensed balance sheet at December 31, 2017 has been derived from the audited financial statements at December 31, 2017, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the financial position and results of operations of Cytori Therapeutics, Inc., and our subsidiaries (collectively, the “Company”) have been included. Operating results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. These financial statements should be read in conjunction with the consolidated financial statements and notes therein included in our Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on March 9, 2018. Amendments to Certificate of Incorporation and Reverse Stock Split On May 23, 2018, following stockholder and Board approval, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation, as amended (the “Amendment”), with the Secretary of State of the State of Delaware to (i) effectuate a one-for-ten (1:10) reverse stock split (the “Reverse Stock Split”) of its common stock, par value $0.001 per share, without any change to its par value, and (ii) increase the number of authorized shares of the Company’s common stock from 75 million to 100 million shares (which amount is not otherwise affected by the Reverse Stock Split). The Amendment became effective on the filing date. Upon effectiveness of the Reverse Stock Split, the number of shares of the Company’s common stock (x) issued and outstanding decreased from approximately 61.6 million shares (as of May 23, 2018) to approximately 6.2 million shares; (y) reserved for issuance upon exercise of outstanding warrants and options decreased from approximately 23.4 million shares to approximately 2.3 million shares, and (z) reserved but unallocated under our current equity incentive plans (including the stockholder-approved share increase to the Company’s 2014 Equity Incentive Plan) decreased from approximately 9.1 million common shares to approximately 0.9 million common shares. The Company’s 5,000,000 shares of authorized Preferred Stock were not affected by the Reverse Stock Split. No fractional shares were issued in connection with the Reverse Stock Split. Proportional adjustments for the reverse stock split were made to the Company's outstanding stock options, warrants and equity incentive plans for all periods presented. Recently Issued and Recently Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases In February 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, to simplify how all entities assess goodwill for impairment by eliminating Step 2 from the goodwill impairment test. As amended, the goodwill impairment test will consist of one step comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the reporting unit's carrying amount exceeds its fair value. This update is effective for annual periods beginning after December 15, 2019, and interim periods within those periods. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently evaluating the impact that this standard will have on our consolidated financial statements. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features; II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Recently Adopted Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers cumulative effect of applying the new standards as of the adoption date on In November 2016, the FASB issued ASU 2016-18, Restricted Cash in the first quarter of 2018, . The new guidance did not have a material impact on the Company's consolidated financial statements. Cash, cash equivalents, and restricted cash reported on the consolidated condensed statements of cash flows includes restricted cash of $0.4 million, $0.4 million, $0.7 million, and $40,000 as of December 31, 2016, 30, 2017, December 31, 2017 and 30, 2018, respectively.

Use of Estimates

Use of Estimates	9 Months Ended
	Sep. 30, 2018
Use Of Estimates [Abstract]
Use of Estimates	2. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Our most significant estimates and critical accounting policies involve recognizing revenue, reviewing goodwill and intangible assets for impairment, determining the assumptions used in measuring share-based compensation expense, valuing warrants, measuring expense related to our in-process research and development Actual results could differ from these estimates. Management’s estimates and assumptions are reviewed regularly, and the effects of revisions are reflected in the consolidated financial statements in the periods they are determined to be necessary.

Liquidity

Liquidity	9 Months Ended
	Sep. 30, 2018
Liquidity [Abstract]
Liquidity	3. Liquidity We incurred net losses of $2.3 million and $10.4 million for the three and nine months ended September 30, 2018 30, 2018 30, 2018 Further, the Loan and Security Agreement (defined in Note 4), with Oxford Finance, LCC (“Oxford”), as further described in Note 4, requires maintaining a minimum of $1.5 million in unrestricted cash and cash equivalents on hand to avoid an event of default under the Loan and Security Agreement and requires us to make an aggregate of $7.0 million in principal payments on or before December 31, 2018. Based on our cash and cash equivalents on hand of approximately $6.8 million at September 30, 2018 To date, these operating losses have been funded primarily from outside sources of invested capital including our recently completed 2018 Rights Offering (defined in Note 3 below), our Lincoln Park Purchase Agreement (defined in Note 11) with Lincoln Park Capital Fund, LLC (“Lincoln Park”), the 2017 Rights Offering (defined in Note 3 below), the Loan and Security Agreement and gross profits. We have had, and we will continue to have, an ongoing need to raise additional cash from outside sources to fund our future clinical development programs and other operations. Our inability to raise additional cash would have a material and adverse impact on operations and would cause us to default on our loan. On April 11, 2017, we entered into an underwriting agreement (the “Underwriting Agreement”) with Maxim Group LLC “Maxim”) relating to the issuance and sale of 0.9 million shares of our common stock. The price to the public in this offering was $11.00 per share. Maxim purchased the shares from us pursuant to the Underwriting Agreement at a price of $10.40 per share. The net proceeds to us from the offering were approximately $8.7 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. The offering closed purchase up to 94,400 additional shares of common stock. On May 31, 2017, Maxim exercised their overallotment option and purchased 84,900 shares at $11.00 per share. The net proceeds to us were $0.8 million, after deducting underwriting costs and offering expenses payable by us. On September 5, 2017, we received a written notice from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based upon the closing bid price of our common stock for the last 30 consecutive business days, we no longer met the requirement to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we were provided a period of 180 calendar days, or until March 5, 2018, in which to regain compliance. We were granted an additional compliance period of 180 calendar days, or until September 4, 2018, in which to regain compliance after meeting the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital market, with the exception of the bid price requirement, and providing notice to Nasdaq of our intent to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. In order to regain compliance with the minimum bid price requirement, the closing bid price of our common stock must have been at least $1 per share for a minimum of ten consecutive business days during the second 180-day period. On June 8, 2018, we received written notice from Nasdaq that we had regained compliance with the Nasdaq Stock Market Listing Rule 5500(a)(2) concerning our minimum bid price per share of our common stock. On November 28, 2017, we closed a rights offering originally filed under a Form S-1 registration statement in August 2017 (“2017 Rights Offering”). Pursuant to the 2017 Rights Offering, the Company sold an aggregate of 10,000 units consisting of a total of 10,000 shares of Series B Convertible Preferred Stock, immediately convertible into approximately 3,000,000 shares of common stock and 18,000,000 warrants, exercisable for an aggregate of 1,800,000 shares of common stock at an exercise price of $3.333 per share of common stock, resulting in total net proceeds to the Company of $8.8 million. These warrants became exercisable upon stockholder approval of an increase in the Company’s authorized shares of common stock obtained at the 2018 Annual Meeting of Stockholders. On June 1, 2018, we entered into a Sales Agreement with B. Riley FBR, Inc. (“B. Riley FBR”) to sell shares of our common stock having an aggregate offering price of up to $6.5 million from time to time, through an “at the market” equity offering program (the “ATM program”) under which B. Riley FBR will act as sales agent. On July 25, 2018, we closed a rights offering originally filed under a Form S-1 registration statement in April 2018 (“2018 Rights Offering”). Pursuant to the 2018 Rights Offering, the Company sold an aggregate of 6,723 units consisting of a total of 6,723 shares of Series C Convertible Preferred Stock, immediately convertible into approximately 8.4 million shares of common stock and 7,059,150 warrants, with each warrant exercisable for one share of common stock at an exercise price of $0.7986 per share, resulting in total net proceeds to the Company of approximately $5.7 million. On August 28, 2018, we received a written notice from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based upon the closing bid price of our common stock for the last 30 consecutive business days, we no longer meet the requirement to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we have been provided a period of 180 calendar days, or until February 25, 2019, in which to regain compliance. In order to regain compliance with the minimum bid price requirement, the closing bid price of our common stock must have been at least $1 per share for a minimum of ten consecutive business days during the 180-day period. In the event we do not regain compliance within this 180-day period, we may be eligible to seek an additional compliance period of 180 calendar days if we meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, if we provide written notice to Nasdaq of our intent to cure the deficiency during this second compliance period, by effecting a reverse stock split, if necessary. On September 21, 2018, Cytori entered into a purchase agreement and a registration rights agreement, with Lincoln Park, pursuant to which the Company has the right to sell to Lincoln Park and Lincoln Park is obligated to purchase up to $5.0 million of shares of the Company’s common stock over the 24-month period following October 15, 2018, subject to the satisfaction of certain conditions. See Note 11 for further discussion on the Lincoln Park Agreement. We continue to seek additional capital through product revenues, strategic transactions, including extension opportunities under our awarded U.S. Department of Health and Human Service’s Biomedical Advanced Research and Development Authority (“BARDA”) contract, and from other financing alternatives. Without additional capital, current working capital and cash generated from sales will not provide adequate funding for research, sales and marketing efforts and product development activities at their current levels. If sufficient capital is not raised, we will at a minimum need to significantly reduce or curtail our research and development and other operations, and this would negatively affect our ability to achieve corporate growth goals. Should we be unable to raise additional cash from outside sources, this would have a material adverse impact on our operations. The accompanying consolidated condensed financial statements have been prepared assuming the Company will continue to operate as a going concern, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from uncertainty related to its ability to continue as a going concern.

Term Loan Obligations

Term Loan Obligations	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Term Loan Obligations	4. Term Loan Obligations On May 29, 2015, the Company On September 20, 2017, the Company entered into an amendment to the Term Loan, pursuant to which, among other things, Oxford agreed to reduce the minimum liquidity covenant level originally at $5 million to $1.5 million. The amendment also extended the interest-only period under the Loan Agreement through August On June 19, 2018, the Company entered into a second amendment (the “Second Amendment”) to the Term Loan with Oxford. The Second Amendment extends the interest-only period under the Term Loan to December 1, 2018 if the Company receives unrestricted gross cash proceeds of at least $15 million from the sale and issuance of the Company’s equity securities on or before August 31, 2018. The Company agreed to pay Oxford an amendment fee of $250,000 at the earlier of maturity or acceleration of the loan. On August 31, 2018, the Company entered into a third amendment (the “Third Amendment”) to the Term Loan with Oxford. The Third Amendment extends the interest-only period under the Term Loan to December 31, 2018 and also requires that the Company pay to Oxford, in accordance with its pro rata share of the loans, 75% of all proceeds received (i) from the issuance and sale of unsecured subordinated convertible debt, (ii) in connection with a joint venture, collaboration or other partnering transaction, (iii) in connection with any licenses, (iv) from dividends (other than non-cash dividends from wholly owned subsidiaries) and (v) from the sale of any assets (such requirement, the “Prepayment Requirement”). The Prepayment Requirement does not apply to proceeds from the sale and issuance of the Company’s equity securities, other than convertible debt. The Prepayment Requirement shall apply until an aggregate principle amount of $7.0 million has been paid pursuant to the Prepayment Requirement. However, if less than $7.0 million has been paid pursuant to the Prepayment Requirement on December 31, 2018 then the Company is required to promptly make additional payments until an aggregate principal amount of $7.0 million has been paid. The Company agreed to pay Oxford an amendment fee of $50,000 at the earlier of maturity or acceleration of the loan. The Term Loan, as amended, is collateralized by a security interest in substantially all of the Company’s existing and subsequently acquired assets, including its intellectual property assets, subject to certain exceptions set forth in the Loan and Security Agreement, as amended. The intellectual property asset collateral will be released upon the Company achieving certain liquidity level when the total principal outstanding under the Loan Agreement is less than $3 million. 30, 2018 Our interest expense for the three and nine months ended September 30, 2018 and 2017 30, 2018 and 30, 2017, The Term Loan Agreement contains customary indemnification obligations and customary events of default, including, among other things, our failure to fulfill certain obligations under the Term Loan, as amended, and the occurrence of a material adverse change, which is defined as a material adverse change in our business, operations, or condition (financial or otherwise), a material impairment of the prospect of repayment of any portion of the loan. In the event of default by us or a declaration of material adverse change by our lender, under the Term Loan, the lender would be entitled to exercise its remedies thereunder, including the right to accelerate the debt, upon which we may be required to repay all amounts then outstanding under the Term Loan, which could materially harm our financial condition. As of September 30, 2018

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2018
Revenue Recognition [Abstract]
Revenue Recognition	5. Revenue Recognition Product Sales Our revenue is generated primarily from the sale of products. Product revenue primarily consists of sales of Celution devices and consumables for commercial and research purposes. The Company’s contracts with customers only include one performance obligation (i.e., sale of the Company’s products). Typically, if there are multiple items included on a single order, they are delivered at the same time. Revenue is recognized at a point in time when delivery is completed and control of the promised goods is transferred to the customers. Revenue is measured as the amount of consideration the Company expects to be entitled to in exchange for those goods. The Company’s contracts do not involve financing elements as payment terms with customers are less than one year. The sale arrangements do not include any variable consideration. Advance payments from customers are recorded as deferred revenue. Shipping and handling activities that occur after the customer obtains control of the goods are considered part of the Company’s obligation to transfer the products and therefore are recorded as direct selling expenses, as incurred. The following table represents revenue by product (in thousands): Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Consumable $ 692 $ 389 $ 1,845 $ 1,338 Device 101 25 194 551 Other products 65 53 210 138 $ 858 $ 467 $ 2,249 $ 2,027 Product revenues, classified by geographic location, are as follows (in thousands): Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Product Revenues % of Total Product Revenues % of Total Product Revenues % of Total Product Revenues % of Total Americas $ 199 23 % $ 112 24 % $ 249 11 % $ 315 15 % Japan 535 62 % 279 60 % 1,693 75 % 1,434 71 % EMEA 114 14 % 18 4 % 262 12 % 204 10 % Asia Pacific 10 1 % 58 12 % 45 2 % 74 4 % Total product revenues $ 858 100 % $ 467 100 % $ 2,249 100 % $ 2,027 100 % Concentration of Significant Customers Two direct customers accounted for 58% of our revenue recognized for the nine months ended September September Six direct customers comprised 61% of our revenue recognized for the nine months ended September September Development Revenue We earn revenue for performing tasks under research and development agreements with governmental agencies like BARDA which is outside of the scope of the new revenue recognition guidance. Revenues derived from reimbursement of direct out-of-pocket expenses for research costs associated with government contracts are recorded as government contracts and other within development revenues. Government contract revenue is recorded at the gross amount of the reimbursement. The costs associated with these reimbursements are reflected as a component of research and development expense in our statements of operations. We recognized $0.5 million and $2.3 million in development revenue for the three and nine months ended 30, 2018 and nine 30, 2017

Inventories

Inventories	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventories	6. Inventories Inventories are carried at the lower of cost or net realizable value, determined on the first-in, first-out (FIFO) method. Inventories consisted of the following (in thousands): September 30, 2018 December 31, 2017 Raw materials $ 698 $ 681 Work in process 418 722 Finished goods 1,698 1,780 $ 2,814 $ 3,183

Loss per Share

Loss per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Loss per Share	7. Loss per Share Basic per share data is computed by dividing net income or loss applicable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted per share data is computed by dividing net income or loss applicable to common stockholders by the weighted average number of common shares outstanding during the period increased to include, if dilutive, the number of additional common shares that would have been outstanding as calculated using the treasury stock method. Potential common shares were related to outstanding but unexercised options, multiple series of preferred stock, and warrants for all periods presented. We have excluded all potentially dilutive securities from the calculation of diluted loss per share attributable to common stockholders as of September 30, 2018 and 2017, as their inclusion would be antidilutive. Potentially dilutive common shares excluded from the calculations of diluted loss per share were 14.1 million as of September 30, 2018, which includes 9.2 million outstanding warrants and 0.2 million options, 4.7 million shares of preferred stock, and restricted stock awards. Potentially dilutive common shares excluded from the calculation of diluted loss per share were 0.5 million as of .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies We have entered into agreements with various research organizations for pre-clinical and clinical development studies, which have provisions for cancellation. Under the terms of these agreements, the vendors provide a variety of services including conducting research, recruiting and enrolling patients, monitoring studies and data analysis. Payments under these agreements typically include fees for services and reimbursement of expenses. The timing of payments due under these agreements is estimated based on current study progress. As of September 30, 2018 which On February 27, 2017, we entered into a Lease Agreement for office space for our corporate headquarters in San Diego, California (the “Lease”). The initial term of the Lease was 63 months and could have been extended upon mutual agreement. The commencement date was originally expected to take place in November 2017 and subsequently amended to January 1, 2018. In connection with our restructuring announced in September 2017, we negotiated a buy-out of our obligations under the Lease for approximately $0.6 million, included in the general and administrative expenses. On January 27, 2017, we entered into a Lease Agreement for office space for our office in Tokyo, Japan (the “Japan Lease”). The initial term of the Japan Lease is 61 months, and may be extended upon mutual agreement. The Japan Lease commenced on April 15, 2017. We were party to an agreement with Roche Diagnostics Corporation (“Roche”) On June 8, 2018, the Company received written notice from Roche terminating its existing supply agreement with the Company due to failure by the Company to meet minimum purchase requirements. Roche has indicated to the Company that it will agree to negotiate in good faith with the Company with respect to a new supply agreement for enzymes with specifications similar to the enzymes that Roche was previously manufacturing for the Company. We are subject to various claims and contingencies related to legal proceedings. Due to their nature, such legal proceedings involve inherent uncertainties including, but not limited to, court rulings, negotiations between affected parties and governmental actions. Management assesses the probability of loss for such contingencies and accrues a liability and/or discloses the relevant circumstances, as appropriate. Management believes that any liability to us that may arise as a result of currently pending legal proceedings will not have a material adverse effect on our financial condition, liquidity, or results of operations as a whole. On April 27, 2018, Lorem Vascular (“Lorem”) filed suit against the Company in the U.S. District Court for the Southern District of California alleging the Company breached an oral agreement made in 2013 to purchase 5% of Lorem’s common stock for an aggregate amount of $5.0 million, and seeking specific performance of the alleged oral agreement and damages in an amount to be determined at On August 31, 2018, we filed a Demand for Arbitration with the American Arbitration Association in San Diego, California, against Bimini Technologies LLC (“Bimini”) for fraud and breach of a Sale and Exclusive License/Supply Agreement made in 2013 under which Bimini licensed rights to the Company’s Standalone Fat Transplantation, including the Puregraft Product Line and associated trademarks. Our arbitration demand alleges that Bimini failed to make a $1.0 million milestone payment due to the Company after Bimini achieved $10.0 million in gross profits from the sale of the Company’s Puregraft product line, and Bimini deceived the Company about Bimini’s true gross profits figures. Our arbitration demand seeks that $1.0 million milestone payment, as well prejudgment interest and attorneys’ fees. On October 29, 2018 Bimini made the $1.0 million milestone payment. The parties subsequently entered into a settlement agreement resolving the claims in the Demand for Arbitration.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2018
Investments All Other Investments [Abstract]
Financial Instruments	9. Financial Instruments We disclose fair value information about all financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate fair value. The disclosures of estimated fair value of financial instruments at September 30, 2018 , The carrying amounts for cash and cash equivalents, accounts receivable, other current assets, accounts payable, accrued expenses and other liabilities approximate fair value due to the short-term nature of these instruments. Further, based on the borrowing rates currently available for loans with similar terms, we believe the fair value of long-term debt approximates its carrying value. Fair value measurements are market-based measurements, not entity-specific measurements. Therefore, fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. We follow a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. • Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable in active markets. Warrants with exercise price reset features (down-round protection) are accounted for as liabilities, with changes in the fair value included in net income (loss) for the respective periods. Because some of the inputs to our valuation model are either not observable or are not derived principally from or corroborated by observable market data by correlation or other means, the warrant liability is classified as Level 3 in the fair value hierarchy.

Asset Purchase Agreement with A

Asset Purchase Agreement with Azaya Therapeutics	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Asset Purchase Agreement with Azaya Therapeutics	10. Asset Purchase Agreement with Azaya Therapeutics On February 15, 2017 (the “Closing Date”), t t t At the closing of the acquisition, the Company (i) issued 117,325 of shares of its common stock in Azaya’s name, (A) 87,994 of which were delivered to Azaya promptly after the Closing, and (B) 29,331 of which were deposited into a 15-month escrow pursuant to a standard escrow agreement; and (ii) assumed the obligation to pay approximately $1.8 million of Azaya’s existing payables, all of which ember T he Company accounted for the acquisition as an asset acquisition because the acquired set of assets did not meet the definition of a business. The total consideration of $4.3 million, which consists of $2.3 million related to the fair value of the common stock issued to Azaya at the acquisition date, $1.8 million in assumed liabilities and $0.2 million in acquisition costs, was allocated to the assets acquired based on their relative fair values at the time of acquisition. All other future payments were deemed contingent consideration which will be accounted for when the contingency is resolved and the consideration is paid or becomes payable. Because there was no current alternative use for the IPR&D, following the authoritative accounting guidance, the Company has expensed the total amount of $1.7 million on the Closing Date.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2018
Stockholders Equity Note [Abstract]
Stockholders' Equity	11. Preferred Stock The Company has authorized 5,000,000 shares of preferred stock, par value $0.001 per share. The Company’s Board of Directors is authorized to designate the terms and conditions of any preferred stock we issue without further action by the common stockholders. There were 13,500 shares of Series A 3.6% Convertible Preferred Stock and 10,000 Series B Preferred Stock On July 25, 2018, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series C Convertible Preferred Stock (the “Certificate of Designation”) with the Delaware Secretary of State creating a new series of its authorized preferred stock, par value $0.001 per share, designated as the Series C Convertible Preferred Stock (the “Series C Preferred Stock”). The number of shares initially constituting the Series C Preferred Stock was set at 7,000 shares. Pursuant to a registration statement on Form S-1 originally filed on April 27, 2018, as amended, and became effective on July 17, 2018, and related prospectus (as supplemented), the Company registered and distributed to holders of its common stock and Series B Convertible Preferred Stock, at no charge, non-transferable subscription rights to purchase up to an aggregate of 20,000 units each consisting of one share of Series C Preferred Stock and 1,050 warrants for $1,000 per unit. Each warrant is exercisable for one share of the Company’s common stock at an exercise price of $0.7986 per share for 30 months from the date of issuance and each share of Series C Preferred Stock is convertible into 1,253 shares of the Company's common stock. Pursuant to the 2018 Rights Offering, which closed on July 25, 2018, the Company sold an aggregate of 6,723 units, resulting in total net proceeds to the Company of approximately $5.7 million. Based on the relevant authoritative accounting guidance, the warrants were liability classified at the issuance date. The warrants may be redeemed by the Company at $0.01 per warrant prior to their expiration if the Company’s common stock closes above $3.63 per share , subject to adjustment, The initial fair value of the liability associated with these warrants was $3.1 million, and the fair value decreased to $1.5 million as of September 30, 2018. The main driver for the change in the fair value of warrants at September 30, 2018, was related to the change in our stock price. All future changes in the fair value of the warrants will be recognized in our consolidated statements of operations until they are either exercised or expire. The warrants are not traded in an active securities market, and as such the estimated the fair value as of September 30, 2018 was determined by using an option pricing model with the following assumptions: As of As of (inception date) Expected term 2.3 years 2.5 years Common stock market price $ 0.41 $ 0.72 Risk-free interest rate 2.83% 2.70% Expected volatility 120% 112% Resulting fair value (per warrant) $ 0.21 $ 0.45 Expected volatility was computed using daily pricing observations of traded shares of Cytori for recent periods that correspond to the expected term of the warrants. We believe this method produces an estimate that is representative of our expectations of future volatility over the expected term of these warrants. We currently have no reason to believe future volatility over the expected remaining life of these warrants is likely to differ materially from historical volatility. The expected life is based on the remaining contractual term of the warrants. The risk-free interest rate is the U.S. Treasury bond rate as of the valuation date. Fluctuations in the fair value of the warrants are impacted by unobservable inputs, most significantly the assumption with regards to future equity issuances and its impact to the down-round protection feature. Significant increases (decreases) in this input in isolation would result in a significantly higher (lower) fair value measurement. The following table summarizes the change in our Level 3 warrant liability value (in thousands): Nine months ended Warrant liability September 30, 2018 Beginning balance $ 3,148 Change in fair value (1,676 ) Ending balance $ 1,472 The fair value of the common stock into which the Series C Preferred Stock was convertible on the date of issuance exceeded the proceeds allocated to the preferred stock, resulting in the beneficial conversion feature that we recognized as a deemed dividend to the preferred stockholders and, accordingly, an adjustment to net loss to arrive at net loss allocable to common stockholders. We recorded a deemed dividend within additional paid-in capital of $2.5 million for the quarter ended September 30, 2018, related to a beneficial conversion feature included in the issuance of our Series C Convertible Preferred Stock. There were 3,510 shares of Series C Preferred Stock outstanding as of September 30, 2018. Common Stock On April 11, 2017, we entered into the Underwriting Agreement with Maxim relating to the issuance and sale of 0.9 million shares of our common stock. The price to the public in the offering was $11.00 per share. Maxim purchased the shares from us pursuant to the Underwriting Agreement at a price of $10.40 per share. The net proceeds to us from the offering were approximately $8.7 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. The offering closed . In addition, under the terms of the Underwriting Agreement, we granted Maxim a 45-day overallotment option to purchase up to 94,400 additional shares of common stock. On May 31, 2017, Maxim exercised their overallotment option and purchased 84,900 shares at $11.00 per share. The net proceeds to us were $0.8 million, after deducting underwriting costs and offering expenses payable by us. On June 1, 2018, the Company entered into a Sales Agreement with B. Riley FBR to sell shares of its common stock having an aggregate offering price of up to $6.5 million through its ATM program. Through September 30, 2018, the Company sold a total of 1.5 million shares for proceeds of approximately $0.8 million through the ATM program. On September 21, 2018

Basis of Presentation and New_2

Basis of Presentation and New Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and New Accounting Standards	Our accompanying unaudited consolidated condensed financial statements as of September 30, 2018 and for the three and nine months ended September 30, 2018 and 2017 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. Our consolidated condensed balance sheet at December 31, 2017 has been derived from the audited financial statements at December 31, 2017, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the financial position and results of operations of Cytori Therapeutics, Inc., and our subsidiaries (collectively, the “Company”) have been included. Operating results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. These financial statements should be read in conjunction with the consolidated financial statements and notes therein included in our Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on March 9, 2018.
Recently Issued and Recently Adopted Accounting Pronouncements	Recently Issued and Recently Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases In February 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, to simplify how all entities assess goodwill for impairment by eliminating Step 2 from the goodwill impairment test. As amended, the goodwill impairment test will consist of one step comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the reporting unit's carrying amount exceeds its fair value. This update is effective for annual periods beginning after December 15, 2019, and interim periods within those periods. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently evaluating the impact that this standard will have on our consolidated financial statements. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features; II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Recently Adopted Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers cumulative effect of applying the new standards as of the adoption date on In November 2016, the FASB issued ASU 2016-18, Restricted Cash in the first quarter of 2018, . The new guidance did not have a material impact on the Company's consolidated financial statements. Cash, cash equivalents, and restricted cash reported on the consolidated condensed statements of cash flows includes restricted cash of $0.4 million, $0.4 million, $0.7 million, and $40,000 as of December 31, 2016, 30, 2017, December 31, 2017 and 30, 2018, respectively.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Our most significant estimates and critical accounting policies involve recognizing revenue, reviewing goodwill and intangible assets for impairment, determining the assumptions used in measuring share-based compensation expense, valuing warrants, measuring expense related to our in-process research and development Actual results could differ from these estimates. Management’s estimates and assumptions are reviewed regularly, and the effects of revisions are reflected in the consolidated financial statements in the periods they are determined to be necessary.
Revenue Recognition	The Company’s contracts with customers only include one performance obligation (i.e., sale of the Company’s products). Typically, if there are multiple items included on a single order, they are delivered at the same time. Revenue is recognized at a point in time when delivery is completed and control of the promised goods is transferred to the customers. Revenue is measured as the amount of consideration the Company expects to be entitled to in exchange for those goods. The Company’s contracts do not involve financing elements as payment terms with customers are less than one year. The sale arrangements do not include any variable consideration. Advance payments from customers are recorded as deferred revenue. Shipping and handling activities that occur after the customer obtains control of the goods are considered part of the Company’s obligation to transfer the products and therefore are recorded as direct selling expenses, as incurred.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue Recognition [Abstract]
Revenue by Product	The following table represents revenue by product (in thousands): Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Consumable $ 692 $ 389 $ 1,845 $ 1,338 Device 101 25 194 551 Other products 65 53 210 138 $ 858 $ 467 $ 2,249 $ 2,027
Product Revenues, Classified by Geographic Location	Product revenues, classified by geographic location, are as follows (in thousands): Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Product Revenues % of Total Product Revenues % of Total Product Revenues % of Total Product Revenues % of Total Americas $ 199 23 % $ 112 24 % $ 249 11 % $ 315 15 % Japan 535 62 % 279 60 % 1,693 75 % 1,434 71 % EMEA 114 14 % 18 4 % 262 12 % 204 10 % Asia Pacific 10 1 % 58 12 % 45 2 % 74 4 % Total product revenues $ 858 100 % $ 467 100 % $ 2,249 100 % $ 2,027 100 %

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventory	Inventories consisted of the following (in thousands): September 30, 2018 December 31, 2017 Raw materials $ 698 $ 681 Work in process 418 722 Finished goods 1,698 1,780 $ 2,814 $ 3,183

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Stockholders Equity Note [Abstract]
Schedule of Estimated Fair Value Determined Using Option Pricing Model Assumptions	The warrants are not traded in an active securities market, and as such the estimated the fair value as of September 30, 2018 was determined by using an option pricing model with the following assumptions: As of As of (inception date) Expected term 2.3 years 2.5 years Common stock market price $ 0.41 $ 0.72 Risk-free interest rate 2.83% 2.70% Expected volatility 120% 112% Resulting fair value (per warrant) $ 0.21 $ 0.45
Summary of Change in Level 3 Warrant Liability Value	The following table summarizes the change in our Level 3 warrant liability value (in thousands): Nine months ended Warrant liability September 30, 2018 Beginning balance $ 3,148 Change in fair value (1,676 ) Ending balance $ 1,472

Basis of Presentation and New_3

Basis of Presentation and New Accounting Standards (Details)	May 23, 2018$ / sharesshares	Sep. 30, 2018USD ($)$ / sharesshares	May 24, 2018shares	Dec. 31, 2017USD ($)$ / sharesshares	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Basis Of Presentation And New Accounting Standards [Line Items]
Reverse stock split of common stock	0.1
Common stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	75,000,000	100,000,000	100,000,000	100,000,000
Common stock, shares issued (in shares)	61,600,000	11,691,293	6,200,000	5,782,573
Common stock, shares outstanding (in shares)	61,600,000	11,691,293	6,200,000	5,782,573
Number of shares callable by warrants (in shares)	23,400,000		2,300,000
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000	5,000,000	5,000,000
Common stock, reverse stock split, fractional shares issued	0
Accounting Standards Update No. 2016-18 [Member]
Basis Of Presentation And New Accounting Standards [Line Items]
Restricted cash | $		$ 40,000		$ 700,000	$ 400,000	$ 400,000
2014 Equity Incentive Plan [Member]
Basis Of Presentation And New Accounting Standards [Line Items]
Number of shares callable by warrants (in shares)	9,100,000		900,000

Liquidity (Details)

Liquidity (Details) - USD ($)

Sep. 21, 2018

Aug. 31, 2018

Aug. 28, 2018

Jul. 25, 2018

Jun. 01, 2018

Nov. 28, 2017

Sep. 05, 2017

May 31, 2017

Apr. 11, 2017

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2018

Sep. 30, 2017

May 24, 2018

May 23, 2018

Dec. 31, 2017

Liquidity [Line Items]

Net loss

$ 2,330,000

$ 4,807,000

$ 10,398,000

$ 18,399,000

Accumulated deficit

412,147,000

$ 412,147,000

412,147,000

$ 401,749,000

Net cash used in operating activities

9,487,000

$ 13,904,000

Aggregate pincipal payments

$ 7,000,000

Cash and cash equivalents

6,806,000

6,806,000

6,806,000

$ 9,550,000

Minimum cash/cash equivalents covenant

1,500,000

$ 1,500,000

$ 1,500,000

Common stock issued (in shares)

6,723

10,000

Number of shares callable by warrants (in shares)

2,300,000

23,400,000

Proceeds from issuance warrants

$ 5,700,000

$ 8,800,000

Series B Convertible Preferred Stock [Member]

Liquidity [Line Items]

Common stock issued (in shares)

3,000,000

Number of shares callable by warrants (in shares)

18,000,000

Series C Convertible Preferred Stock [Member]

Liquidity [Line Items]

Number of shares callable by warrants (in shares)

7,059,150

Number of convertible shares converted into common stock (in shares)

8,400,000

Nasdaq Stock Market LLC [Member]

Liquidity [Line Items]

Number of consecutive business days no longer able to meet the required closing bid price of common stock

30 days

30 days

Minimum bid price of common stock required for Nasdaq listing rule

$ 1

$ 1

Grace period provided with minimum bid price for Nasdaq listing rule

180 days

180 days

Grace date for minimum bid price requirement for Nasdaq listing

Feb. 25, 2019

Mar. 5, 2018

Common stock minimum bid price required to regain compliance

$ 1

$ 1

Number of consecutive business days required to regain compliance

10 days

10 days

Additional grace period provided with minimum bid price to regain compliance

180 days

180 days

Description of compliance with minimum bid price requirement

In the event we do not regain compliance within this 180-day period, we may be eligible to seek an additional compliance period of 180 calendar days if we meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, if we provide written notice to Nasdaq of our intent to cure the deficiency during this second compliance period, by effecting a reverse stock split, if necessary

Common Stock [Member]

Liquidity [Line Items]

Common stock issued (in shares)

6,723

10,000

Share issued, price per share

$ 11

Number of shares callable by warrants (in shares)

1

1,800,000

Warrant exercise price (in dollars per share)

$ 0.7986

$ 3.333

Common Stock [Member] | Lincoln Park [Member]

Liquidity [Line Items]

Common stock issued, value

$ 5,000,000

Period exercisable from the date of issuance

24 months

Common Stock [Member] | Maxim Group LLC [Member]

Liquidity [Line Items]

Common stock issued (in shares)

84,900

900,000

Share issued, price per share

$ 11

$ 10.40

Proceeds from sale of common stock, net

$ 800,000

$ 8,700,000

Closing of offering date

Apr. 17, 2017

Number of days granted as option to purchase additional shares of common stock to underwriter

45 days

Additional shares of common stock

94,400

Common Stock [Member] | ATM Program [Member] | B. Riley FBR [Member] | Sales Agreement [Member]

Liquidity [Line Items]

Common stock issued (in shares)

1,500,000

Proceeds from sale of common stock, net

$ 800,000

Minimum [Member]

Liquidity [Line Items]

Unrestricted cash and cash equivalents

$ 1,500,000

$ 1,500,000

$ 1,500,000

Maximum [Member] | Common Stock [Member] | ATM Program [Member] | B. Riley FBR [Member] | Sales Agreement [Member]

Liquidity [Line Items]

Proceeds from sale of common stock, net

$ 6,500,000

Term Loan Obligations (Details)

Term Loan Obligations (Details) - USD ($)	Aug. 31, 2018	Jun. 19, 2018	Dec. 29, 2017	May 29, 2015	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	May 24, 2018	May 23, 2018	Sep. 20, 2017
Debt Instrument [Line Items]
Number of shares callable by warrants (in shares)									2,300,000	23,400,000
Minimum liquidity covenant					$ 1,500,000		$ 1,500,000
Minimum amount to be paid pursuant prepayment requirement	$ 7,000,000
Interest expense					512,000	$ 474,000	1,379,000	$ 1,603,000
Non-cash amortization					200,000	$ 200,000	$ 400,000	$ 600,000
LIBOR [Member] | Interest Rate Floor [Member]
Debt Instrument [Line Items]
Basis variable rate				1.00%
Term Loan [Member]
Debt Instrument [Line Items]
Origination Date							May 29, 2015
Original Loan Amount				$ 17,700,000
Basis variable rate				7.95%
Maturity date							Jun. 1, 2019
Fees amount associated with loan				$ 1,100,000
Number of shares callable by warrants (in shares)				9,444
Warrant exercise price (in dollars per share)				$ 103.50
Date from which warrants are exercisable							Nov. 30, 2015
Warrant expiration date							May 29, 2025
Minimum liquidity covenant				$ 5,000,000							$ 1,500,000
Extended interest-only period	Dec. 31, 2018	Dec. 1, 2018					Aug. 1, 2018
Debt instrument, interest-only period	The Third Amendment extends the interest-only period under the Term Loan to December 31, 2018 and also requires that the Company pay to Oxford, in accordance with its pro rata share of the loans, 75% of all proceeds received (i) from the issuance and sale of unsecured subordinated convertible debt, (ii) in connection with a joint venture, collaboration or other partnering transaction, (iii) in connection with any licenses, (iv) from dividends (other than non-cash dividends from wholly owned subsidiaries) and (v) from the sale of any assets (such requirement, the “Prepayment Requirement”).	The Second Amendment extends the interest-only period under the Term Loan to December 1, 2018 if the Company receives unrestricted gross cash proceeds of at least $15 million from the sale and issuance of the Company’s equity securities on or before August 31, 2018.					The amendment also extended the interest-only period under the Loan Agreement through August 1, 2018, as the Company successfully closed on a financing and received unrestricted net cash proceeds in excess of $5 million on or before December 29, 2017.
Net proceeds excess receives from unrestricted cash			$ 5,000,000
Amendment fee	$ 50,000	$ 250,000
Percentage of proceeds received	75.00%
Minimum amount to be paid pursuant prepayment requirement	$ 7,000,000
Debt instrument prepayment, description	The Prepayment Requirement does not apply to proceeds from the sale and issuance of the Company’s equity securities, other than convertible debt. The Prepayment Requirement shall apply until an aggregate principle amount of $7.0 million has been paid pursuant to the Prepayment Requirement. However, if less than $7.0 million has been paid pursuant to the Prepayment Requirement on December 31, 2018 then the Company is required to promptly make additional payments until an aggregate principal amount of $7.0 million has been paid.
Debt instrument, covenant compliance							we were in compliance with all of the debt covenants under the Loan and Security Agreement.
Minimum [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Interest rate				8.95%
Unrestricted gross cash proceeds required to extend interest-only period		$ 15,000,000
Maximum [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Original Loan Amount					$ 3,000,000		$ 3,000,000

Revenue Recognition (Details)

Revenue Recognition (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)ObligationCustomer	Sep. 30, 2017USD ($)Customer
Concentration Risk [Line Items]
Number of performance obligation | Obligation			1
Payment terms with customers			The Company’s contracts do not involve financing elements as payment terms with customers are less than one year.
Concentration risk percentage	100.00%	100.00%	100.00%	100.00%
Development revenue recognized | $	$ 454	$ 1,306	$ 2,270	$ 2,856
Customer Concentration Risk [Member] | Revenue Recognized [Member]
Concentration Risk [Line Items]
Number of customers			2	6
Concentration risk percentage			58.00%	61.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Number of customers			3	4
Concentration risk percentage			72.00%	78.00%

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Concentration Risk [Line Items]
Revenues	$ 858	$ 467	$ 2,249	$ 2,027
Consumable [Member]
Concentration Risk [Line Items]
Revenues	692	389	1,845	1,338
Device [Member]
Concentration Risk [Line Items]
Revenues	101	25	194	551
Other Products [Member]
Concentration Risk [Line Items]
Revenues	$ 65	$ 53	$ 210	$ 138

Revenue Recognition - Product R

Revenue Recognition - Product Revenues, Classified by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Concentration Risk [Line Items]
Revenues	$ 858	$ 467	$ 2,249	$ 2,027
Concentration risk percentage	100.00%	100.00%	100.00%	100.00%
Americas [Member]
Concentration Risk [Line Items]
Revenues	$ 199	$ 112	$ 249	$ 315
Concentration risk percentage	23.00%	24.00%	11.00%	15.00%
Japan [Member]
Concentration Risk [Line Items]
Revenues	$ 535	$ 279	$ 1,693	$ 1,434
Concentration risk percentage	62.00%	60.00%	75.00%	71.00%
EMEA [Member]
Concentration Risk [Line Items]
Revenues	$ 114	$ 18	$ 262	$ 204
Concentration risk percentage	14.00%	4.00%	12.00%	10.00%
Asia Pacific [Member]
Concentration Risk [Line Items]
Revenues	$ 10	$ 58	$ 45	$ 74
Concentration risk percentage	1.00%	12.00%	2.00%	4.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 698	$ 681
Work in process	418	722
Finished goods	1,698	1,780
Inventory, net	$ 2,814	$ 3,183

Loss per Share (Details)

Loss per Share (Details) - shares shares in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Dilutive common shares excluded from the calculations of diluted loss per share (in shares)	14.1	0.5
Outstanding Warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Dilutive common shares excluded from the calculations of diluted loss per share (in shares)	9.2
Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Dilutive common shares excluded from the calculations of diluted loss per share (in shares)	0.2
Preferred Stock and Restricted Stock Awards [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Dilutive common shares excluded from the calculations of diluted loss per share (in shares)	4.7

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Oct. 29, 2018	Aug. 31, 2018	Feb. 27, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Apr. 27, 2018	Dec. 31, 2017	Jan. 27, 2017
Recorded Unconditional Purchase Obligation [Line Items]
Initial term of lease			63 months
Lease commencement date			Jan. 1, 2018
Buy-out of obligations lease			$ 600
Common stock, aggregate amount				$ 67		$ 67			$ 58
Gross profit from sale of company’s puregraft product line				230	$ (20)	$ 412	$ 116
Lorem Vascular [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Percentage of common stock to be purchased								5.00%
Common stock, aggregate amount								$ 5,000
Amended complaint dismissal date						Oct. 1, 2018
Bimini Technologies LLC | Demand for Arbitration [Member] | Sale and Exclusive License/Supply Agreement [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Potential milestone payment due upon acheivement of gross profit		$ 1,000
Gross profit from sale of company’s puregraft product line		10,000
Potential milestone payment claimed		$ 1,000
Bimini Technologies LLC | Demand for Arbitration [Member] | Sale and Exclusive License/Supply Agreement [Member] | Subsequent Event [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Proceeds from milestone payment	$ 1,000
Japan Lease [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Initial term of lease										61 months
Lease commencement date						Apr. 15, 2017
Pre-clinical Research Study Obligations [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Contractual obligation, due in next twelve months				1,700		$ 1,700
Contractual obligation				$ 3,200		$ 3,200

Asset Purchase Agreement with_2

Asset Purchase Agreement with Azaya Therapeutics - Additional Information (Details) - Assets Purchased from Azaya Therapeutics, Inc. [Member] $ in Thousands	Feb. 15, 2017USD ($)Candidateshares	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Total consideration	$ 4,300
Fair value of the common stock issued	2,300
Assumed liabilities	1,800
Acquisition costs	200
In process research and development expense	1,700	$ 0	$ 1,686
Asset Purchase Agreement
Business Acquisition [Line Items]
Book value of tangible assets acquired	$ 3,000
Common stock, shares issued | shares	117,325
Common stock, shares issued after closing date | shares	87,994
Common stock deposited in escrow | shares	29,331
Obligation to pay on existing payables assumed	$ 1,800
Existing payables, paid during the period				$ 1,800
Asset Purchase Agreement | IPR&D [Member]
Business Acquisition [Line Items]
Number of drug candidates acquired | Candidate	2

Stockholders' Equity - Preferre

Stockholders' Equity - Preferred Stock (Details) - USD ($)	Jul. 25, 2018	Jul. 17, 2018	Nov. 28, 2017	Sep. 30, 2018	Dec. 31, 2017	May 24, 2018	May 23, 2018
Preferred Stock [Abstract]
Preferred stock, shares authorized (in shares)				5,000,000	5,000,000	5,000,000	5,000,000
Preferred stock, par value (in dollars per share)				$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)				23,500	23,500
Preferred stock, shares outstanding (in shares)				4,624	2,431
Number of shares callable by warrants (in shares)						2,300,000	23,400,000
Common stock issued (in shares)	6,723		10,000
Common Stock [Member]
Preferred Stock [Abstract]
Number of shares callable by warrants (in shares)	1		1,800,000
Warrant exercise price (in dollars per share)	$ 0.7986		$ 3.333
Common stock issued (in shares)	6,723		10,000
2018 Rights Offering [Member]
Preferred Stock [Abstract]
Number of shares callable by warrants (in shares)		1
Warrant exercise price (in dollars per share)		$ 0.7986
Period exercisable from the date of issuance				30 months
Common stock issued (in shares)	6,723
Gross proceeds from private placement of stock	$ 5,700,000
Redemption price of warrant prior to expiration				$ 0.01
Common stock price per share for warrant redemption				$ 3.63
Number of consecutive trading days for warrant redemption				20 days
Warrants liability fair value				$ 1,500,000	$ 3,100,000
2018 Rights Offering [Member] | Warrant [Member]
Preferred Stock [Abstract]
Number of shares callable by warrants (in shares)		1,050
Warrant exercise price (in dollars per share)		$ 1,000
2018 Rights Offering [Member] | Common Stock [Member]
Preferred Stock [Abstract]
Number of shares callable by warrants (in shares)		1
Series A Convertible Preferred Stock [Member]
Preferred Stock [Abstract]
Preferred stock, shares issued (in shares)				13,500	13,500
Convertible preferred stock				3.60%	3.60%
Preferred stock, shares outstanding (in shares)				0	0
Series B Convertible Preferred Stock [Member]
Preferred Stock [Abstract]
Preferred stock, shares issued (in shares)				10,000	10,000
Preferred stock, shares outstanding (in shares)				1,114	2,431
Number of shares callable by warrants (in shares)			18,000,000
Common stock issued (in shares)			3,000,000
Series C Convertible Preferred Stock [Member]
Preferred Stock [Abstract]
Preferred stock, shares authorized (in shares)	7,000
Preferred stock, par value (in dollars per share)	$ 0.001
Preferred stock, shares outstanding (in shares)				3,510
Number of shares callable by warrants (in shares)	7,059,150
Number of share converted into common stock for each share (in shares)	1,253
Series C Convertible Preferred Stock [Member] | Dividend Paid [Member]
Preferred Stock [Abstract]
Dividends payable				$ 2,500,000
Series C Convertible Preferred Stock [Member] | 2018 Rights Offering [Member]
Preferred Stock [Abstract]
Number of shares callable by warrants (in shares)		20,000
Common Stock and Series B Convertible Preferred Stock [Member] | 2018 Rights Offering [Member]
Preferred Stock [Abstract]
Charge on Non Transferable Subscription Rights		$ 0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Estimated Fair Value Determined Using Option Pricing Model Assumptions (Details)	Sep. 30, 2018$ / shares	Jul. 25, 2018$ / shares
Expected Term [Member]
Class Of Stock [Line Items]
Warrants expected term	2 years 3 months 18 days	2 years 6 months
Common Stock Market Price [Member]
Class Of Stock [Line Items]
Warrants measurement input	0.41	0.72
Risk-free Interest Rate [Member]
Class Of Stock [Line Items]
Warrants measurement input	0.0283	0.0270
Expected Volatility [Member]
Class Of Stock [Line Items]
Warrants measurement input	1.20	1.12
Resulting Fair Value (Per Warrant) [Member]
Class Of Stock [Line Items]
Warrants measurement input	0.21	0.45

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Change in Level 3 Warrant Liability Value (Details) - Warrant Liability [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)
Warrant liability
Beginning balance	$ 3,148
Change in fair value	(1,676)
Ending balance	$ 1,472

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock (Details) - USD ($)	Sep. 21, 2018	Jul. 25, 2018	Jun. 01, 2018	Nov. 28, 2017	May 31, 2017	Apr. 11, 2017	Sep. 30, 2018
Common Stock [Abstract]
Common stock issued (in shares)		6,723		10,000
Common Stock [Member]
Common Stock [Abstract]
Common stock issued (in shares)		6,723		10,000
Share issued, price per share						$ 11
Common Stock [Member] | Maxim Group LLC [Member]
Common Stock [Abstract]
Common stock issued (in shares)					84,900	900,000
Share issued, price per share					$ 11	$ 10.40
Proceeds from sale of common stock, net					$ 800,000	$ 8,700,000
Closing of offering date						Apr. 17, 2017
Number of days granted as option to purchase additional shares of common stock to underwriter						45 days
Additional shares of common stock						94,400
Common Stock [Member] | B. Riley FBR [Member] | ATM Program [Member] | Sales Agreement [Member]
Common Stock [Abstract]
Common stock issued (in shares)							1,500,000
Proceeds from sale of common stock, net							$ 800,000
Common Stock [Member] | B. Riley FBR [Member] | ATM Program [Member] | Sales Agreement [Member] | Maximum [Member]
Common Stock [Abstract]
Proceeds from sale of common stock, net			$ 6,500,000
Common Stock [Member] | Lincoln Park Capital Fund, LLC [Member]
Common Stock [Abstract]
Common stock issued, value	$ 5,000,000
Period exercisable from the date of issuance	24 months
Common Stock [Member] | Lincoln Park Capital Fund, LLC [Member] | Securities Purchase Agreement [Member]
Common Stock [Abstract]
Trading Volume of Common Shares	0
Upper Limit on the Price Per Share	$ 0
Common Stock [Member] | Lincoln Park Capital Fund, LLC [Member] | Maximum [Member]
Common Stock [Abstract]
Beneficial ownership percentage of common stock outstanding	4.99%
Common Stock [Member] | Lincoln Park Capital Fund, LLC [Member] | Maximum [Member] | Single Regular Purchase [Member]
Common Stock [Abstract]
Common stock issued (in shares)	250,000
Common Stock [Member] | Lincoln Park Capital Fund, LLC [Member] | Minimum [Member] | Single Regular Purchase [Member]
Common Stock [Abstract]
Common stock issued, value	$ 1,000,000
Common Stock [Member] | Lincoln Park Capital Fund, LLC [Member] | Purchase Agreement [Member] | Maximum [Member]
Common Stock [Abstract]
Floor price of per share	$ 0.25