Senomyx (SNMX) 10-Q 26 Apr 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 23, 2018
Document Information [Line Items]
Entity Registrant Name	SENOMYX INC
Entity Central Index Key	1,123,979
Trading Symbol	snmx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		48,304,277
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Balance Sheets (Curre

Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 10,340	$ 6,233
Short-term investments available-for-sale	7,734	9,630
Accounts receivable	1,833	7,130
Inventories	1,632	1,579
Other current assets	398	467
Total current assets	21,937	25,039
Property and equipment, net	2,451	2,561
Total assets	24,388	27,600
Current liabilities:
Accounts payable, accrued expenses and other current liabilities	3,481	4,920
Deferred rent	343	335
Leasehold incentive obligation	219	219
Total current liabilities	4,043	5,474
Deferred rent	2,079	2,229
Leasehold incentive obligation	1,079	1,134
Stockholders’ equity:
Preferred stock, $.001 par value; 7,500,000 shares authorized; no shares issued or outstanding at March 31, 2018 (unaudited) and December 31, 2017	0	0
Common stock, $.001 par value; 120,000,000 shares authorized at March 31, 2018 (unaudited) and December 31, 2017; 48,304,277 and 47,786,793 shares issued and outstanding at March 31, 2018 (unaudited) and December 31, 2017, respectively.	48	48
Additional paid-in capital	299,042	298,242
Accumulated other comprehensive loss	(9)	(5)
Accumulated deficit	(281,894)	(279,522)
Total stockholders’ equity	17,187	18,763
Total liabilities and stockholders’ equity	$ 24,388	$ 27,600

Condensed Balance Sheets (Curr3

Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	7,500,000	7,500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	48,304,277	47,786,793
Common stock, shares outstanding (in shares)	48,304,277	47,786,793

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Revenues	$ 3,108	$ 4,466
Operating expenses:
Cost of commercial revenues	288	421
Research, development and patents	3,925	4,427
Selling, general and administrative	2,696	3,066
Total operating expenses	6,909	7,914
Loss from operations	(3,801)	(3,448)
Other income	44	12
Net loss	(3,757)	(3,436)
Other comprehensive income:
Unrealized gain on investments	4	1
Comprehensive loss	$ (3,753)	$ (3,435)
Net loss per share, basic and diluted (in dollars per share)	$ (0.08)	$ (0.07)
Shares used in calculating net loss per share, basic and diluted (in shares)	47,965,037	45,841,809
Commercial Revenues [Member]
Revenues:
Revenues	$ 1,446	$ 2,620
Development Revenues [Member]
Revenues:
Revenues	$ 1,662	$ 1,846

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net loss	$ (3,757)	$ (3,436)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	173	181
Accretion of premium on available-for-sale securities	(12)	20
Amortization of leasehold incentive obligation	(55)	(55)
Stock-based compensation for employees and non-employee directors	530	787
Stock-based compensation for non-employees	4	6
Change in operating assets and liabilities:
Accounts receivable	6,682	(146)
Inventories	(53)	(8)
Other current assets	69	(172)
Accounts payable, accrued expenses and other current liabilities	(1,468)	(1,255)
Deferred rent	(142)	(143)
Net cash provided by (used in) operating activities	1,971	(4,221)
Investing activities
Purchases of property and equipment	(34)	(153)
Purchases of available-for-sale securities	(496)
Maturities of available-for-sale securities	2,400	3,550
Net cash provided by investing activities	1,870	3,397
Financing activities
Proceeds from issuance of common stock, net of issuance costs	266	2,178
Net cash provided by financing activities	266	2,178
Net change in cash and cash equivalents	4,107	1,354
Cash and cash equivalents at beginning of period	6,233	3,587
Cash and cash equivalents at end of period	10,340	4,941
Supplemental disclosure of cash flow information:
Purchases of property and equipment included in accounts payable, accrued expenses and other current liabilities at period end	$ 29	$ 171

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. Organization and Summary of Significant Accounting Policies Organization and Business Senomyx, Inc. (“we”, “us” or “our”) was incorporated in Delaware in September 1998 January 1999. We currently have product discovery, development and commercialization collaborations with some of the world’s leading packaged food, beverage and ingredient companies: Ajinomoto Co., Inc. (“Ajinomoto”), Firmenich SA (“Firmenich”) and PepsiCo, Inc. (“PepsiCo”). Our collaboration agreements generally provide for license fees, research and development funding, reimbursement of certain costs, development milestone payments based upon our achievement of research or development goals and, in the event of commercialization, commercial milestone payments, minimum periodic royalties and royalties on sales of products incorporating our flavor ingredients. We also sell certain flavor ingredients directly to flavor companies for inclusion in flavor systems for re-sale to food and beverage companies. Basis of Presentation The financial statements at March 31, 2018 three March 31, 2018 2017 three March 31, 2018 not may December 31, 2018. December 31, 2017, 10 December 31, 2017 The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. We have incurred net losses from operations since inception and have an accumulated deficit of $281.9 March 31, 2018. March 31, 2018 $18.1 12 Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We consider all highly liquid investments with a remaining maturity of three Short-Term Investments Available-for-Sale Our surplus cash is generally invested in United States government agency securities and corporate debt securities with maturity dates of two Fair Value of Financial Instruments other than Short-Term Investments Available-for-Sale The carrying amount of cash and cash equivalents, accounts receivables, accounts payable and accrued expenses are considered to be representative of their respective fair value because of the short-term nature of those items. Accounts Receivable We extend credit to our customers in the normal course of business based upon an evaluation of the customer’s credit history, financial condition and other factors. Estimates of allowances for uncollectible receivables are determined by evaluating individual customer circumstances, historical payment patterns, length of time past due and other factors. At March 31, 2018 December 31, 2017, not Inventories Inventories consist entirely of purchased finished goods. Inventories are valued at lower of cost (on a moving average basis) or net realizable value. We are required to make assumptions regarding the level of reserves required to value items at the lower of cost or net realizable value. We make judgments and estimates regarding excess or obsolete inventory by analyzing forecasted demand, pricing trends, margins, product life cycles, remaining shelf life and expectations of efficacy, as well as qualitative factors given the limited sales history of our products. At March 31, 2018 December 31, 2017, $395,000 , Revenue Recognition We recognize revenues when we transfer control of promised goods or services to our collaborators and customers in an amount that reflects the consideration to which we expect to be entitled to in exchange for those goods or services. See Note 2 Cost of Commercial Revenues Cost of commercial revenues represents royalties payable under our third Research, Development and Patents Research and development costs, including those incurred in relation to our collaboration agreements, are expensed in the period incurred. Research and development costs primarily consist of salaries and related expenses for personnel, facilities and depreciation, research and development supplies, licenses and outside services. Such research and development costs totaled $3.5 $4.0 three March 31, 2018 2017, Costs related to filing and pursuing patent applications are expensed as incurred, as recoverability of such expenditures is uncertain. We include all external costs related to the filing of patents related to development in Research, Development and Patents expenses. Such patent-related expenses totaled $403,000 $418,000 three March 31, 2018 2017, Stock-Based Compensation Total stock-based compensation expenses recognized for the three March 31, 2018 2017 Three Months E nded , 2018 2017 Research, development and patents $ 272 $ 297 Selling, general and administrative 262 496 Total stock-based compensation expenses $ 534 $ 793 At March 31, 2018, $2.8 2.6 Net Loss Per Share Basic earnings per share (“EPS”) is calculated by dividing the net loss by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing the net income or loss by the weighted average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common share equivalents include the dilutive effect of in-the-money shares, which is calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, the exercise price of a share and the amount of compensation cost, if any, for future service that we have not The following table sets forth the computation of basic and diluted net loss per share for the respective periods. Three Months Ended March 31 , 2018 201 7 Numerator: Net loss (in thousands) $ (3,757 ) $ (3,436 ) Denominator: Weighted average common shares 47,965,037 45,841,809 Basic and diluted net loss per share $ (0.08 ) $ (0.07 ) Outstanding antidilutive securities not included in diluted net loss per share calculation: Options to purchase common stock 10,956,148 11,297,197 Comprehensive Income (Loss) The Comprehensive Income Topic of the FASB ASC requires that all components of comprehensive income (loss), including net income (loss), be reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Our accumulated other comprehensive loss as of March 31, 2018 December 31, 2017 Segment Reporting We operate in one Recent Accounting Pronouncements In February 2016, 2016 02, Leases December 15, 2018, 2016 02 first 2019.

Note 2 - Revenues

Note 2 - Revenues	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. Revenues In May 2014, January 1, 2018, not January 1, 2018. January 1, 2018 not We recorded a net decrease of $1.4 January 1, 2018 $1.5 $100,000 January 1, 2018 January 1, 2018 Minimum periodic royalty payments $ 1,125 Sales based royalty payments (net) 206 Patent and other cost reimbursement payments 54 Total net decrease to opening accumulated deficit $ 1,385 Revenue Recognition Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Our steps for recognizing revenue consist of; 1 2 3 4 5 Certain of our revenues derive from product discovery, development and commercialization collaboration agreements. Some of our collaboration agreements contain multiple performance obligations, including technological and territorial licenses and research and development services. For such arrangements, we allocate revenue to each performance obligation based on its relative standalone selling price. We generally determine standalone selling prices at the inception of the contract based on our best estimate of what the selling price would be if the deliverable was regularly sold by us on a stand-alone basis. Performance Obligations Development revenues Commercial revenues Royalty-based collaborator contract revenues may 90 Performance obligations for direct sales of our flavor ingredients are satisfied upon transfer of control of the product, generally according to shipping terms specific to delivery and acceptance, and do not Contract performance obligations associated with sales based royalty revenues, including minimum periodic royalty payments, require us to use judgement as to timing of recognition of revenues: Sales based royalty payments not one Additionally, to the extent that calculated royalties on sales of licensed products exceed contractually provided minimum periodic royalty payments, the collaborators are required to remit to us the difference between royalties calculated and minimum periodic royalty payments made to date. We recognize this difference as royalties on product sales at the time for which the performance obligation is satisfied as evidenced by available royalty reports or calculated estimates when royalty reports are not not We operate in one not Three Months Ended 2018 2017 Development revenues: Research and development services $ 1,500 $ 1,750 Patent and other cost reimbursement payments 162 96 Total development revenues 1,662 1,846 Commercial revenues: Sales based royalties 858 1,911 Direct sales 584 705 License fees 4 4 Total commercial revenues 1,446 2,620 Total revenues $ 3,108 $ 4,466 Timing of revenue recognition: Services transferred over time $ 1,662 $ 1,846 Good and services transferred at a point in time 1,446 2,620 Total revenues $ 3,108 $ 4,466 Transaction price allocated to remaining performance obligations associated with research and development contracts for the years ended December 31, 2018 2019 2018 2019 Revenue expected to be recognized from research and development services contracts as of March 31, 2018 (1) $ 6,000 $ 4,500 ( 1 Transaction price = $6 December 31, 2018, 12 $500,000 $500,000 September 30, 2019, $4.5 December 31, 2019 . Practical Expedients and Exemptions We generally expense sales commissions when incurred because the amortization period would have been one We do not one

Note 3 - Balance Sheet Details

Note 3 - Balance Sheet Details	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	3. Balance Sheet Details Short-Term Investments Available-for-Sale The following is a summary of short-term investments available-for-sale securities at March 31, 2018 ( Amortized Cost Unrealized Gain Unrealized Loss Estimated United States government agency securities $ 2,999 $ — $ (3 ) $ 2,996 Corporate debt securities 4,744 — (6 ) 4,738 Short-term investments available-for-sale $ 7,743 $ — $ (9 ) $ 7,734 The following is a summary of short-term investments available-for-sale securities at December 31, 2017 Amortized Cost Unrealized Gain Unrealized Loss Estimated United States government agency securities $ 4,592 $ — $ (2 ) $ 4,590 Corporate debt securities 5,043 — (3 ) 5,040 Short-term investments available-for-sale $ 9,635 $ — $ (5 ) $ 9,630 Short-term investments available-for-sale securities we consider to be temporarily impaired at March 31, 2018 Less than 12 Months of Temporary Impairment Number of i nvestments Estimated Fair Value Unrealized Losses United States government agency securities 4 $ 3,546 $ (3 ) Corporate debt securities 7 3,346 (6 ) Temporarily impaired securities 11 $ 6,892 $ (9 ) We believe that the decline in value of these securities is temporary and primarily related to the change in market interest rates since purchase and that it is more likely than not Gross realized gains and losses on available-for-sale securities were immaterial during the three March 31, 2018 2017. March 31, 2018, one

Note 4 - Fair Value Disclosures

Note 4 - Fair Value Disclosures	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. Fair Value Disclosures The following table presents information about our financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2018, 1 1 Fair values determined by Level 2 1 2 2 third third 2 2 2 no 1 2 three March 31, 2018 2017. Level 3 may not 3 The fair value as of March 31, 2018 Fair Value Measurement at Reporting Date Using Balance as of March 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds $ 7,891 $ 7,891 $ — $ — United States government agency bonds 3,546 — 3,546 — Corporate bonds 4,738 — 4,738 — $ 16,175 $ 7,891 $ 8,284 $ —

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The financial statements at March 31, 2018 three March 31, 2018 2017 three March 31, 2018 not may December 31, 2018. December 31, 2017, 10 December 31, 2017 The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. We have incurred net losses from operations since inception and have an accumulated deficit of $281.9 March 31, 2018. March 31, 2018 $18.1 12
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents We consider all highly liquid investments with a remaining maturity of three
Marketable Securities, Policy [Policy Text Block]	Short-Term Investments Available-for-Sale Our surplus cash is generally invested in United States government agency securities and corporate debt securities with maturity dates of two
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments other than Short-Term Investments Available-for-Sale The carrying amount of cash and cash equivalents, accounts receivables, accounts payable and accrued expenses are considered to be representative of their respective fair value because of the short-term nature of those items.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	Accounts Receivable We extend credit to our customers in the normal course of business based upon an evaluation of the customer’s credit history, financial condition and other factors. Estimates of allowances for uncollectible receivables are determined by evaluating individual customer circumstances, historical payment patterns, length of time past due and other factors. At March 31, 2018 December 31, 2017, not
Inventory, Policy [Policy Text Block]	Inventories Inventories consist entirely of purchased finished goods. Inventories are valued at lower of cost (on a moving average basis) or net realizable value. We are required to make assumptions regarding the level of reserves required to value items at the lower of cost or net realizable value. We make judgments and estimates regarding excess or obsolete inventory by analyzing forecasted demand, pricing trends, margins, product life cycles, remaining shelf life and expectations of efficacy, as well as qualitative factors given the limited sales history of our products. At March 31, 2018 December 31, 2017, $395,000,
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition We recognize revenues when we transfer control of promised goods or services to our collaborators and customers in an amount that reflects the consideration to which we expect to be entitled to in exchange for those goods or services. See Note 2
Cost of Sales, Policy [Policy Text Block]	Cost of Commercial Revenues Cost of commercial revenues represents royalties payable under our third
Research Development and Patents Expense, Policy [Policy Text Block]	Research, Development and Patents Research and development costs, including those incurred in relation to our collaboration agreements, are expensed in the period incurred. Research and development costs primarily consist of salaries and related expenses for personnel, facilities and depreciation, research and development supplies, licenses and outside services. Such research and development costs totaled $3.5 $4.0 three March 31, 2018 2017, Costs related to filing and pursuing patent applications are expensed as incurred, as recoverability of such expenditures is uncertain. We include all external costs related to the filing of patents related to development in Research, Development and Patents expenses. Such patent-related expenses totaled $403,000 $418,000 three March 31, 2018 2017,
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation Total stock-based compensation expenses recognized for the three March 31, 2018 2017 Three Months E nded , 2018 2017 Research, development and patents $ 272 $ 297 Selling, general and administrative 262 496 Total stock-based compensation expenses $ 534 $ 793 At March 31, 2018, $2.8 2.6
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Share Basic earnings per share (“EPS”) is calculated by dividing the net loss by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing the net income or loss by the weighted average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common share equivalents include the dilutive effect of in-the-money shares, which is calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, the exercise price of a share and the amount of compensation cost, if any, for future service that we have not The following table sets forth the computation of basic and diluted net loss per share for the respective periods. Three Months Ended March 31 , 2018 201 7 Numerator: Net loss (in thousands) $ (3,757 ) $ (3,436 ) Denominator: Weighted average common shares 47,965,037 45,841,809 Basic and diluted net loss per share $ (0.08 ) $ (0.07 ) Outstanding antidilutive securities not included in diluted net loss per share calculation: Options to purchase common stock 10,956,148 11,297,197
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (Loss) The Comprehensive Income Topic of the FASB ASC requires that all components of comprehensive income (loss), including net income (loss), be reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Our accumulated other comprehensive loss as of March 31, 2018 December 31, 2017
Segment Reporting, Policy [Policy Text Block]	Segment Reporting We operate in one
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In February 2016, 2016 02, Leases December 15, 2018, 2016 02 first 2019.

Note 1 - Organization and Sum11

Note 1 - Organization and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months E nded , 2018 2017 Research, development and patents $ 272 $ 297 Selling, general and administrative 262 496 Total stock-based compensation expenses $ 534 $ 793
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31 , 2018 201 7 Numerator: Net loss (in thousands) $ (3,757 ) $ (3,436 ) Denominator: Weighted average common shares 47,965,037 45,841,809 Basic and diluted net loss per share $ (0.08 ) $ (0.07 ) Outstanding antidilutive securities not included in diluted net loss per share calculation: Options to purchase common stock 10,956,148 11,297,197

Note 2 - Revenues (Tables)

Note 2 - Revenues (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	January 1, 2018 Minimum periodic royalty payments $ 1,125 Sales based royalty payments (net) 206 Patent and other cost reimbursement payments 54 Total net decrease to opening accumulated deficit $ 1,385
Disaggregation of Revenue [Table Text Block]	Three Months Ended 2018 2017 Development revenues: Research and development services $ 1,500 $ 1,750 Patent and other cost reimbursement payments 162 96 Total development revenues 1,662 1,846 Commercial revenues: Sales based royalties 858 1,911 Direct sales 584 705 License fees 4 4 Total commercial revenues 1,446 2,620 Total revenues $ 3,108 $ 4,466 Timing of revenue recognition: Services transferred over time $ 1,662 $ 1,846 Good and services transferred at a point in time 1,446 2,620 Total revenues $ 3,108 $ 4,466
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	2018 2019 Revenue expected to be recognized from research and development services contracts as of March 31, 2018 (1) $ 6,000 $ 4,500

Note 3 - Balance Sheet Details

Note 3 - Balance Sheet Details (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Available-for-sale Securities [Table Text Block]	Amortized Cost Unrealized Gain Unrealized Loss Estimated United States government agency securities $ 2,999 $ — $ (3 ) $ 2,996 Corporate debt securities 4,744 — (6 ) 4,738 Short-term investments available-for-sale $ 7,743 $ — $ (9 ) $ 7,734 Amortized Cost Unrealized Gain Unrealized Loss Estimated United States government agency securities $ 4,592 $ — $ (2 ) $ 4,590 Corporate debt securities 5,043 — (3 ) 5,040 Short-term investments available-for-sale $ 9,635 $ — $ (5 ) $ 9,630
Schedule of Unrealized Loss on Investments [Table Text Block]	Less than 12 Months of Temporary Impairment Number of i nvestments Estimated Fair Value Unrealized Losses United States government agency securities 4 $ 3,546 $ (3 ) Corporate debt securities 7 3,346 (6 ) Temporarily impaired securities 11 $ 6,892 $ (9 )

Note 4 - Fair Value Disclosur14

Note 4 - Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurement at Reporting Date Using Balance as of March 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds $ 7,891 $ 7,891 $ — $ — United States government agency bonds 3,546 — 3,546 — Corporate bonds 4,738 — 4,738 — $ 16,175 $ 7,891 $ 8,284 $ —

Note 1 - Organization and Sum15

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual)	3 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Retained Earnings (Accumulated Deficit), Ending Balance	$ (281,894,000)		$ (279,522,000)
Cash, Cash Equivalents, and Short-term Investments, Total	18,100,000
Allowance for Doubtful Accounts Receivable, Ending Balance	0		0
Inventory Valuation Reserves, Ending Balance	395,000		$ 395,000
Research and Development Expense, Total	3,500,000	$ 4,000,000
Patent Expense	403,000	$ 418,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 2,800,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 219 days
Number of Reportable Segments	1
Maximum [Member]
Available for Sale Securities Maturity Term	2 years

Note 1 - Organization and Sum16

Note 1 - Organization and Summary of Significant Accounting Policies - Summary of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Stock-based compensation	$ 534	$ 793
Research and Development Expense [Member]
Stock-based compensation	272	297
Selling, General and Administrative Expenses [Member]
Stock-based compensation	$ 262	$ 496

Note 1 - Organization and Sum17

Note 1 - Organization and Summary of Significant Accounting Policies - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net loss (in thousands)	$ (3,757)	$ (3,436)
Weighted average common shares (in shares)	47,965,037	45,841,809
Basic and diluted net loss per share (in dollars per share)	$ (0.08)	$ (0.07)
Options to purchase common stock (in shares)	10,956,148	11,297,197

Note 2 - Revenues (Details Text

Note 2 - Revenues (Details Textual)	3 Months Ended
	Mar. 31, 2018USD ($)	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)
Retained Earnings (Accumulated Deficit), Ending Balance	$ (281,894,000)		$ (279,522,000)
Accounts Receivable, Net, Current, Total	1,833,000		7,130,000
Accounts Payable and Accrued Liabilities, Current, Total	$ 3,481,000		$ 4,920,000
Number of Operating Segments	1
Research and Development Services [Member]
Revenue, Remaining Performance Obligation, Amount Recognized Per Month	$ 500,000
Accounting Standards Update 2014-09 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		$ (1,400,000)
Accounts Receivable, Net, Current, Total		1,500,000
Accounts Payable and Accrued Liabilities, Current, Total		$ 100,000

Note 2 - Revenues - Remaining P

Note 2 - Revenues - Remaining Peformance Obligations (Details Textual) - Research and Development Services [Member]	Mar. 31, 2018USD ($)	[1]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Amount	$ 6,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Amount	$ 4,500,000
[1]	Transaction price = $6 million in total for the year ended December 31, 2018, recognized evenly over 12 months at $500,000 per month. Contract continues at $500,000 per month, ending September 30, 2019, for a total of $4.5 million for the year ended December 31, 2019.

Note 2 - Revenues - Impact of A

Note 2 - Revenues - Impact of Adoption of Accounting Guidance (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Mar. 31, 2018	Mar. 31, 2017
Revenue from Contract with Customer, Including Assessed Tax		$ 3,108	$ 4,466
Sales Based Royalties [Member]
Revenue from Contract with Customer, Including Assessed Tax		858	1,911
Patent and Other Cost Reimbursement Payments [Member]
Revenue from Contract with Customer, Including Assessed Tax		$ 162	$ 96
Accounting Standards Update 2014-09 [Member]
Total net decrease to opening accumulated deficit	$ 1,385
Accounting Standards Update 2014-09 [Member] | Minimum Periodic Royalty Payments [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,125
Accounting Standards Update 2014-09 [Member] | Sales Based Royalties [Member]
Revenue from Contract with Customer, Including Assessed Tax	206
Accounting Standards Update 2014-09 [Member] | Patent and Other Cost Reimbursement Payments [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 54

Note 2 - Revenues - Revenues Di

Note 2 - Revenues - Revenues Disaggregated by Revenue Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue from Contract with Customer, Including Assessed Tax	$ 3,108	$ 4,466
Transferred over Time [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,662	1,846
Transferred at Point in Time [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,446	2,620
Research and Development Services [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,500	1,750
Patent and Other Cost Reimbursement Payments [Member]
Revenue from Contract with Customer, Including Assessed Tax	162	96
Development Revenues [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,662	1,846
Sales Based Royalties [Member]
Revenue from Contract with Customer, Including Assessed Tax	858	1,911
Direct Sales [Member]
Revenue from Contract with Customer, Including Assessed Tax	584	705
License Fees [Member]
Revenue from Contract with Customer, Including Assessed Tax	4	4
Commercial Revenues [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 1,446	$ 2,620

Note 2 - Revenues - Remaining22

Note 2 - Revenues - Remaining Performance Obligations (Details) - Research and Development Services [Member]	Mar. 31, 2018USD ($)	[1]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue expected to be recognized from research and development services contracts as of March 31, 2018 (1)	$ 6,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue expected to be recognized from research and development services contracts as of March 31, 2018 (1)	$ 4,500,000
[1]	Transaction price = $6 million in total for the year ended December 31, 2018, recognized evenly over 12 months at $500,000 per month. Contract continues at $500,000 per month, ending September 30, 2019, for a total of $4.5 million for the year ended December 31, 2019.

Note 3 - Balance Sheet Detail23

Note 3 - Balance Sheet Details - Summary of Investments Available-for-sale (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Amortized Cost	$ 7,743	$ 9,635
Unrealized Gain
Unrealized Loss	(9)	(5)
Estimated Fair Value	7,734	9,630
US Government Agencies Debt Securities [Member]
Amortized Cost	2,999	4,592
Unrealized Gain
Unrealized Loss	(3)	(2)
Estimated Fair Value	2,996	4,590
Corporate Debt Securities [Member]
Amortized Cost	4,744	5,043
Unrealized Gain
Unrealized Loss	(6)	(3)
Estimated Fair Value	$ 4,738	$ 5,040

Note 3 - Balance Sheet Detail24

Note 3 - Balance Sheet Details - Summary of Temporarily Impaired Investments (Details) $ in Thousands	Mar. 31, 2018USD ($)
Number of investments	11
Less than 12 Months of Temporary Impairment, Estimated Fair Value	$ 6,892
Less than 12 Months of Temporary Impairment, Unrealized Losses	$ (9)
US Government Agencies Debt Securities [Member]
Number of investments	4
Less than 12 Months of Temporary Impairment, Estimated Fair Value	$ 3,546
Less than 12 Months of Temporary Impairment, Unrealized Losses	$ (3)
Corporate Debt Securities [Member]
Number of investments	7
Less than 12 Months of Temporary Impairment, Estimated Fair Value	$ 3,346
Less than 12 Months of Temporary Impairment, Unrealized Losses	$ (6)

Note 4 - Fair Value Disclosur25

Note 4 - Fair Value Disclosures (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0	$ 0
Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure	$ 0
Financial and Nonfinancial Liabilities, Fair Value Disclosure		$ 0

Note 4 - Fair Value Disclosur26

Note 4 - Fair Value Disclosures - Summary of Assets Measured On a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Estimated Fair Value	$ 7,734	$ 9,630
US Government Agencies Debt Securities [Member]
Estimated Fair Value	2,996	4,590
Corporate Debt Securities [Member]
Estimated Fair Value	4,738	$ 5,040
Fair Value, Measurements, Recurring [Member]
Money market funds	7,891
Estimated Fair Value	16,175
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member]
Estimated Fair Value	3,546
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Estimated Fair Value	4,738
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Money market funds	7,891
Estimated Fair Value	7,891
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member]
Estimated Fair Value
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Estimated Fair Value
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Money market funds
Estimated Fair Value	8,284
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member]
Estimated Fair Value	3,546
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Estimated Fair Value	4,738
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Money market funds
Estimated Fair Value
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member]
Estimated Fair Value
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]
Estimated Fair Value