Cyclacel Pharmaceuticals (CYCC) 10-Q 13 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 13, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Cyclacel Pharmaceuticals, Inc.
Entity Central Index Key	1,130,166
Trading Symbol	cycc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		11,904,521
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 26,025	$ 16,520
Prepaid expenses and other current assets	1,792	3,097
Total current assets	27,817	19,617
Property, plant and equipment (net)	34	45
Total assets	27,851	19,662
Current liabilities:
Accounts payable	1,973	2,497
Accrued and other current liabilities	2,292	2,762
Total current liabilities	4,265	5,259
Other liabilities	128	130
Total liabilities	4,393	5,389
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2016 and September 30, 2017; 4,256,829 and 11,697,021 shares issued and outstanding at December 31, 2016 and September 30, 2017, respectively.	12	4
Additional paid-in capital	364,843	350,051
Accumulated other comprehensive loss	(762)	(743)
Accumulated deficit	(340,635)	(335,039)
Total stockholders' equity	23,458	14,273
Total liabilities and stockholders' equity	27,851	19,662
Convertible Exchangeable Preferred Stock
Stockholders' equity:
Preferred stock, value
Series A Preferred Stock
Stockholders' equity:
Preferred stock, value

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, liquidation preference value (in dollars)	$ 4,006,512	$ 4,006,512
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	11,697,021	4,256,829
Common stock, shares outstanding	11,697,021	4,256,829
Convertible Exchangeable Preferred Stock
Preferred stock, shares issued	335,273	335,273
Preferred stock, shares outstanding	335,273	335,273
Series A Preferred Stock
Preferred stock, shares issued	664	0
Preferred stock, shares outstanding	664	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Grant revenue		$ 205		$ 566
Operating expenses:
Research and development	$ 958	2,409	$ 3,491	7,545
General and administrative	1,154	1,273	3,802	4,002
Total operating expenses	2,112	3,682	7,293	11,547
Operating loss	(2,112)	(3,477)	(7,293)	(10,981)
Other income (expense):
Foreign exchange gains (losses)	(22)	51	(65)	369
Interest income	30	8	59	31
Other income, net	28	18	907	56
Total other income	36	77	901	456
Loss before taxes	(2,076)	(3,400)	(6,392)	(10,525)
Income tax benefit	219	454	793	1,573
Net loss	(1,857)	(2,946)	(5,599)	(8,952)
Dividend on convertible exchangeable preferred shares	(50)	(50)	(151)	(150)
Beneficial conversion feature of Series A convertible preferred stock	(3,638)		(3,638)
Conversion of Series A convertible preferred stock	(3,373)		(3,373)
Net loss applicable to common shareholders	$ (8,918)	$ (2,996)	$ (12,761)	$ (9,102)
Basic and diluted earnings per common share:
Net loss per share - basic and diluted (in dollars per share)	$ (0.91)	$ (0.86)	$ (2.06)	$ (2.89)
Weighted average common shares outstanding (in shares)	9,835,441	3,473,696	6,200,783	3,145,730

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (1,857)	$ (2,946)	$ (5,599)	$ (8,952)
Translation adjustment	(4,882)	4,839	(13,435)	19,604
Unrealized foreign exchange gain on intercompany loans	4,856	(4,860)	13,417	(19,766)
Comprehensive loss	$ (1,883)	$ (2,967)	$ (5,617)	$ (9,114)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities:
Net loss	$ (5,599)	$ (8,952)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	25	109
Stock-based compensation	200	614
Changes in operating assets and liabilities:
Prepaid expenses and other assets	1,464	629
Accounts payable and other current liabilities	(1,350)	464
Net cash used in operating activities	(5,260)	(7,136)
Investing activities:
Purchase of property, plant and equipment	(11)
Net cash used in investing activities	(11)
Financing activities:
Proceeds from issuance of common stock, net of issuance costs	14,751	5,241
Payment of preferred stock dividend	(151)	(150)
Net cash provided by financing activities	14,600	5,091
Effect of exchange rate changes on cash and cash equivalents	176	(366)
Net increase / (decrease) in cash and cash equivalents	9,505	(2,411)
Cash and cash equivalents, beginning of period	16,520
Cash and cash equivalents, end of period	26,025	18,029
Cash received during the period for:
Interest	60	31
Taxes	1,815	1,965
Non cash financing activities:
Accrual of preferred stock dividends	$ 50	50
Receivable from issuance of common stock		$ 1,518

Company Overview

Company Overview	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Overview	1. Company Overview Nature of Operations Cyclacel Pharmaceuticals, Inc. (“Cyclacel” or “the Company”), is a clinical-stage using cell cycle control, transcriptional regulation and DNA damage response biology to develop innovative, targeted medicines for cancer and other proliferative diseases. Cyclacel is a pioneer company in the field of cell cycle biology with a vision to improve patient healthcare by translating cancer biology into medicines. As of September 30, 2017, substantially all efforts of the Company to date have been devoted to performing research and development, conducting clinical trials, developing and acquiring intellectual property, raising capital and recruiting and training personnel.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The consolidated balance sheet as of September 30, 2017, the consolidated statements of operations, comprehensive loss and cash flows, and all related disclosures contained in the accompanying notes are unaudited. The consolidated balance sheet as of December 31, 2016 is derived from the audited consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the Securities and Exchange Commission (“SEC”). The consolidated financial statements are presented on the basis of accounting principles that are generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the SEC. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments necessary to present fairly the consolidated balance sheet as of September 30, 2017, the results of operations and comprehensive loss for the three and nine months ended September 30, 2017 and cash flows for the nine months ended September 30, 2017, have been made. The interim results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results to be expected for the year ending December 31, 2017 or for any other year. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the accompanying notes for the year ended December 31, 2016 that are included in the Company’s Annual Report on Form 10-K filed with the SEC. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical estimates include inputs used to determine the fair value of warrants issued during the reporting period, clinical trial accruals, research and development expenditures, stock-based compensation expense and the recognition of revenue, each of which Cyclacel reviews on an ongoing basis. The estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results may differ from these estimates. Risks and Uncertainties Drug candidates developed by the Company typically will require approvals or clearances from the Food and Drug Administration (“FDA”), European Medicines Agency (“EMA”) or other international regulatory agencies prior to commercial sales. There can be no assurance that the Company’s drug candidates will receive any of the required approvals or clearances. If the Company was denied approval or clearance or such approval was delayed, or is unable to obtain the necessary financing to complete the development and approval processes, there will be a material adverse impact on the Company’s financial condition and results of operations. The Company has relied upon government grants to fund certain of its earlier stage programs and does not expect to be able to continue to be successful in obtaining government grants to fund the Company’s research and development activities. Going Concern Management considers that there are no conditions or events, in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern for a period of at least one year from the date the financial statements are issued. The Company expects that its cash of $26.0 million as of September 30, 2017, will be sufficient to fund its operating expenses and capital expenditure requirements through to the end of 2019. This evaluation is based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued, including: a. The Company’s current financial condition, including its liquidity sources; b. The Company’s conditional and unconditional obligations due or anticipated within one year; c. The funds necessary to maintain the Company’s operations considering its current financial condition, obligations, and other expected cash flows; and d. Other conditions and events, when considered in conjunction with the above, that may adversely affect the Company’s ability to meet its obligations. The future viability of the Company beyond the end of 2019 is dependent on its ability to raise additional capital to finance its operations. The Company will need to raise substantial additional capital to pursue the transcriptional regulation program evaluating CYC065, a CDK inhibitor, in patients with advanced cancers, or the DNA damage response program evaluating a sequential regimen of sapacitabine and CDK inhibitors, in patients with BRCA positive, advanced solid cancers. Additional funding may not be available to the Company on favorable terms, or at all. If the Company is unable to obtain additional funds, it will need to reduce operating expenses, enter into a collaboration or other similar arrangement with respect to development and/or commercialization rights to its CDK inhibitors or sapacitabine, if available, or be forced to delay or reduce the scope of its CDK inhibitors and sapacitabine development programs, including any potential regulatory filings related to the SEAMLESS study, and/or limit or cease its operations. The Company’s inability to raise capital as and when needed could have a negative impact on its financial condition and ability to pursue its business strategies. Segments The Company is managed and operated as one business which is focused on using cell cycle, transcriptional regulation, and DNA damage response biology to develop innovative, targeted medicines for cancer and other proliferative diseases.The entire business is managed by a single management team that reports to the Chief Executive Officer. The Company does not operate separate lines of business with respect to any of its products or product candidates and the Company does not prepare discrete financial information with respect to separate products or product candidates or by location. Accordingly, the Company views its business as one reportable operating segment with development operations in two geographic areas, namely the United States and the United Kingdom. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the time of initial purchase to be cash equivalents. The objectives of the Company’s cash management policy are to safeguard and preserve funds, to maintain liquidity sufficient to meet Cyclacel’s cash flow requirements and to attain a market rate of return. The Company’s cash and cash equivalents balance at September 30, 2017 was $26.0 million and it maintains its cash accounts both within the United States and the United Kingdom. Cash held in the United States is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per account. The Company has cash balances exceeding the balance insured by the FDIC that totalled approximately $24.3 million at September 30, 2017. Cash held in the United Kingdom is insured by the UK Government Financial Services Compensation Scheme (“FSCS”) up to £75,000 per account. The Company has cash balances exceeding the balance insured by the FSCS that totalled approximately $1.4 million at September 30, 2017. Fair Value of Financial Instruments Financial instruments consist of cash equivalents, accounts payable and accrued liabilities. The carrying amounts of cash equivalents, accounts payable and accrued liabilities approximate their respective fair values due to the nature of the accounts, notably their short maturities. Comprehensive Income (Loss) All components of comprehensive income (loss), including net income (loss), are 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. Net income (loss) and other comprehensive income (loss), including foreign currency translation adjustments, are reported, net of any related tax effect, to arrive at comprehensive income (loss). No taxes were recorded on items of other comprehensive income (loss). There were no reclassifications out of other comprehensive income (loss) during the three and nine months ended September 30, 2016 and 2017. Recently Issued Accounting Pronouncements In July 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-11, Accounting for Certain Financial Instruments with Down Round Features (“ASU 2017-11), which simplifies the accounting for certain financial instruments with down-round features. ASU 2017-11 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. ASU 2017-11 should be adopted retrospectively for each prior reporting period presented or retrospectively as of the beginning of the year of adoption. The Company anticipates this standard will not have a material impact on In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory (‘‘ASU 2016-16’’), which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The standard is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The Company anticipates this standard will not have a material impact on In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), to address diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The standard is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The Company anticipates this standard will not have a material impact on In February 2016, the FASB issued guidance on accounting for leases in ASU No, 2016-02. The guidance requires that lessees recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term at the commencement date. The guidance is effective for fiscal years beginning after December 15, 2018. Early application is permitted. The guidance must be adopted on a modified retrospective transition approach for leases existing, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the impact of the guidance on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (‘‘ASU 2014-09’’), which supersedes existing revenue recognition guidance. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The standard defines a five-step process to achieve this principle; (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the Company satisfies a performance obligation. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The guidance is effective for annual periods beginning after December 15, 2017 and for interim periods within those fiscal years. ASU 2014-09 was amended by multiple accounting standards updates from 2014-2016. The Company anticipates this standard will not have a material impact on its consolidated financial statements. While the Company is continuing to assess all potential impacts of the standard, the Company currently believes the most significant impact relates to its accounting for revenues related to grants received from government agencies or nonprofit organizations and revenues from contingent “milestone” based payments. Under the new standard, the Company expects to report grant revenue, if new grants are obtained, in other income (or in some cases as a contra-expense). Historically, grants have been reported in revenue. As the grantor is not likely to be receiving a good or service in exchange for the payment, the grant cannot be reported in revenue under ASU 2014-09. The Company also expects to recognize revenue associated with contingent milestone-based payments at the time the contingent event is probable to be met, rather than when the milestone is achieved. However, given the limited number of potential milestones owed to Cyclacel, and the inherent risk involved in developing drugs, the timing of revenue recognition associated with contingent milestones is unlikely to be impacted. ASU 2014-09 permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Company currently intends to use the modified retrospective method when it adopts the new accounting standard, and does not anticipate recording a material adjustment to opening accumulated deficit as of the date of adoption.

Net Loss Per Common Share

Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Loss Per Common Share	3. Net Loss Per Common Share The Company calculates net loss per common share in accordance with ASC 260 “Earnings Per Share” (“ASC 260”). Basic and diluted net loss per common share was determined by dividing net loss applicable to common stockholders (adjusted for conversion and beneficial conversion feature of preferred stock) by the weighted average number of shares of common stock outstanding during the period. The following potentially dilutive shares of common stock have not been included in the computation of diluted net loss per share for the nine months ended September 30, 2016 and 2017, as the result would be anti-dilutive: September 30, 2016 September 30, 2017 Stock options 393,723 381,786 6% Convertible Exchangeable preferred stock 1,698 1,698 Series A convertible preferred stock - 332,000 Common stock warrants - 7,590,000 Total shares excluded from calculation 395,421 8,305,484

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2017
Prepaid Expenses And Other Current Assets [Abstract]
Prepaid Expenses and Other Current Assets	4. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in $000s): December 31, September 30, 2016 2017 Research and development tax credit receivable $ 1,730 $ 845 Prepayments 867 365 VAT receivable 327 376 Other current assets 173 206 $ 3,097 $ 1,792

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	9 Months Ended
	Sep. 30, 2017
Payables And Accruals [Abstract]
Accrued and Other Current Liabilities	5. Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following (in $000s): December 31, September 30, 2016 2017 Accrued research and development $ 2,138 $ 1,881 Accrued legal and professional fees 194 227 Other current liabilities 430 184 $ 2,762 $ 2,292

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Share-Based Payments [Abstract]
Stock Based Compensation	6. Stock Based Compensation ASC 718 requires compensation expense associated with share-based awards to be recognized over the requisite service period, which for the Company is the period between the grant date and the date the award vests or becomes exercisable. Most of the awards granted by the Company (and still outstanding) vest ratably over one to four years and have a maximum life of ten years from the date of grant. Effective January 1, 2016, the Company recognizes all share-based awards under the straight-line attribution method, assuming that all granted awards will vest. Forfeitures will be recognized in the periods when they occur. The actual expense recognized over the vesting period is based on only those shares that vest. Stock based compensation has been reported within expense line items on the consolidated statement of operations for the three and nine months ended September 30, 2016 and 2017 as shown in the following table (in $000s): Three Months Ended Nine Months Ended 2016 2017 2016 2017 General and administrative $ 113 $ 48 $ 376 $ 146 Research and development 79 17 238 54 Stock-based compensation costs before income taxes $ 192 $ 65 $ 614 $ 200 On May 22, 2015, the Company’s stockholders approved the 2015 Equity Incentive Plan (the “2015 Plan”), under which Cyclacel may make equity incentive grants to its officers, employees, directors and consultants. On May 30, 2017, the Company’s stockholders approved the amendment of the 2015 Plan to increase the number of shares of common stock available for such equity incentive grants. The 2015 Plan replaces the 2006 Equity Incentive Plan. As of September 30, 2017, there were approximately 612,500 reserved awards available to be granted under the 2015 plan. There were 12,000 options granted during the nine months ended September 30, 2017. In 2016, the Company granted certain performance based options. As of September 30, 2017, 184,924 such options remain outstanding. These options will vest upon the fulfillment of certain clinical outcome conditions and will terminate automatically if they have not vested by December 31, 2020. The Company determined that the satisfaction of the vesting criteria was not probable as of September 30, 2017 and, as a result, did not record any expense related to these awards for the three and nine months ended September 30, 2017. There were no stock options exercised during the nine months ended September 30, 2016 and 2017, respectively. The Company does not expect to be able to benefit from the deduction for stock option exercises that may occur during the year ended December 31, 2017 because the company has tax loss carryforwards from prior periods that would be expected to offset any potential taxable income for the year ended December 31, 2017. Outstanding Options A summary of the share option activity and related information is as follows: Number of Weighted Weighted Aggregate Options outstanding at December 31, 2016 389,379 $ 25.80 5.83 $ 121 Granted 12,000 $ 4.38 Cancelled/forfeited (19,593 ) $ 108.73 Options outstanding at September 30, 2017 381,786 $ 20.87 5.24 $ — Unvested at September 30, 2017 (236,962 ) $ 5.06 4.41 $ — Vested and exercisable at September 30, 2017 144,824 $ 46.73 6.60 $ — The fair value of the stock options granted is calculated using the Black-Scholes option-pricing model as prescribed by ASC 718. The expected term assumption is estimated using past history of early exercise behavior and expectations about future behaviors. The weighted average risk-free interest rate represents interest rate for treasury constant maturities published by the Federal Reserve Board. If the term of available treasury constant maturity instruments is not equal to the expected term of an employee option, Cyclacel uses the weighted average of the two Federal Reserve securities closest to the expected term of the employee option. Volatility is based on the Company’s historical volatility over the same period as the expected term for a given award.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Distribution, Licensing and Research Agreements The Company has entered into licensing agreements with academic and research organizations. Under the terms of these agreements, the Company has received licenses to certain technology and patent applications. The Company is required to pay royalties on future sales of products employing the technology or falling under claims of patent applications. Pursuant to the Daiichi Sankyo license under which the Company licenses certain patent rights for sapacitabine, its lead drug candidate, the Company has agreed to pay Daiichi Sankyo an up-front fee, to reimburse Daiichi Sankyo for certain enumerated expenses, and to make milestone payments and pay royalties on a country-by-country basis. The up-front fee, the Phase 3 entry milestone, and certain past reimbursements have been paid. A further $10.0 million in aggregate milestone payments could be payable subject to achievement of all the specific contractual milestones, which are primarily related to regulatory approval in various territories and the Company’s decision to continue with these projects. Royalties are payable in each country for the term of patent protection in the country or for ten years following the first commercial sale of licensed products in the country, whichever is later. Royalties are payable on net sales. Net sales are defined as the gross amount invoiced by the Company or its affiliates or licensees, less discounts, credits, taxes, shipping and bad debt losses. The agreement extends from its commencement date to the date on which no further amounts are owed under it. If the Company wishes to appoint a third party to develop or commercialize any sapacitabine-based products in Japan, within certain limitations, Daiichi Sankyo must be notified and given a right of first refusal, with such right ending sixty days after notification, to develop and/or commercialize in Japan. In general, the license may be terminated by the Company for technical, scientific, efficacy, safety, or commercial reasons on six months’ notice, or twelve months’ notice, if after a launch of a sapacitabine-based product, or by either party for material default.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity	8. Stockholders’ Equity July 2017 Underwritten Public Offering On July 21, 2017, the Company issued (i) 3,154,000 Class A Units for $2 per unit, each consisting of one share of the Company’s common stock, and a warrant to purchase one share of common stock (the “Class A Warrants”), and (ii) 8,872 Class B Units, each consisting of one share of the Company’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”), convertible into 500 shares of Common Stock at the initial conversion price, and a warrant to purchase a number of shares of common stock equal to $1,000.00 divided by the conversion price (the “Class B Warrants”) for $1,000 per unit. The net proceeds to the Company after the underwriters’ exercise in full of the over-allotment option were approximately $13,700,000, after deducting underwriting discounts, commissions and other estimated offering expenses. The Class A Units and Class B Units have no stand-alone rights and the shares of common stock, Series A Preferred Stock and the Class A and Class B Warrants comprising those units were immediately separable. The common stock, Class A Warrants and Class B Warrants (together the “Warrants”) and Series A Preferred Stock are freestanding financial instruments. The Warrants are classified within equity in the consolidated balance sheet and are not remeasured on a recurring basis. The Series A Preferred Stock is classified within equity in the consolidated balance sheet. The proceeds from the Class A Units were allocated to common stock and Class A Warrants on a relative fair value basis. Similarly, the proceeds from the Class B Units were allocated to the Series A Preferred Stock and the Class B Warrants based on their relative fair values. Following the allocation of the offering proceeds associated with the Class B units, the Company determined that the Series A Preferred Stock had a beneficial conversion feature with an aggregate intrinsic value of approximately $3,638,000. As the Series A Preferred Stock contained no stated redemption date, and the conversion feature could be exercised at any time, the discount associated with the beneficial conversion feature was immediately charged against additional paid-in capital and treated as a deemed dividend for both financial reporting and earnings per share purposes. See Note 3 for additional information. June 2016 At Market Issuance On June 23, 2016, the Company entered into an At Market Issuance Sales Agreement (the “FBR Sales Agreement”) with FBR Capital Markets & Co. (”FBR”), under which the Company was authorized to issue and sell shares of its common stock, from time to time, through FBR, acting as its sales agent. Under the FBR Sales Agreement, FBR was authorized to sell such shares of common stock by any method that is deemed to be an “at the market offering”. The Company was not obligated to make any sales of common stock under the FBR Sales Agreement, and the Company was required to pay FBR a commission of 3.0% of the gross proceeds of the sale of any shares of common stock sold through FBR. In the nine months ended September 30, 2017, the Company sold 183,118 shares of common stock under the FBR Sales agreement for net proceeds of approximately $1.1 million, and the FBR Sales Agreement terminated automatically by its terms. Warrants As of September 30, 2017, there were 7,590,000 warrants outstanding, each with an exercise price of $2.00. All such warrants were issued in connection with the July 2017 Underwritten Public Offering and are immediately exercisable. The Warrants expire in 2024. Subject to limited exceptions, a holder of warrants will not have the right to exercise any portion of its warrants if the holder (together with such holder’s affiliates, and any persons acting as a group together with such holder or any of such holder’s affiliates) would beneficially own a number of shares of common stock in excess of 4.99% (or, at the election of the purchaser, 9.99%) of the shares of our Common Stock then outstanding after giving effect to such exercise. The exercise price and the number of shares issuable upon exercise of the warrants is subject to appropriate adjustment in the event of recapitalization events, stock dividends, stock splits, stock combinations, reclassifications, reorganizations or similar events affecting the Company’s common stock. The warrant holders must pay the exercise price in cash upon exercise of the warrants, unless such warrant holders are utilizing the cashless exercise provision of the warrants. On the expiration date, unexercised warrants will automatically be exercised via the “cashless” exercise provision. Prior to the exercise of any warrants to purchase common stock, holders of the warrants will not have any of the rights of holders of the common stock purchasable upon exercise, including the right to vote, except as set forth therein. There was no exercise of warrants during the three months ended September 30, 2016 and 2017 respectively. Series A Preferred Stock 8,872 shares of the Company’s Series A Preferred Stock were issued in the July 2017 Underwritten Public Offering. During the three months ended September 30, 2017, 8,208 shares of the Series A Preferred Stock were converted into 4,104,000 shares of common stock. As of September 30, 2017, 664 shares of the Series A Preferred Stock remain issued and outstanding. Each share of Series A Preferred Stock is convertible at any time at the option of the holder thereof, into a number of shares of common stock determined by dividing $1,000 by the initial conversion price of $2.00 per share, subject to a 4.99% blocker provision, or, upon election by a holder prior to the issuance of shares of Series A Preferred Stock, 9.99%, and is subject to adjustment for stock splits, stock dividends, distributions, subdivisions and combinations. The 664 shares of Series A Preferred Stock issued and outstanding at September 30, 2017, are convertible into 332,000 shares of common stock. In the event of a liquidation, the holders of shares of the Series A Preferred Stock may participate on an as-converted-to-common-stock basis in any distribution of assets of the Company. The Company shall not pay any dividends on shares of common stock (other than dividends in the form of common stock) unless and until such time as dividends on each share of Series A Preferred Stock are paid on an as-converted basis. There is no restriction on the Company’s ability to repurchase shares of Series A Preferred Stock while there is any arrearage in the payment of dividends on such shares, and there are no sinking fund provisions applicable to the Series A Preferred Stock. Subject to certain conditions, at any time following the issuance of the Series A Preferred Stock, the Company has the right to cause each holder of the Series A Preferred Stock to convert all or part of such holder’s Series A Preferred Stock in the event that (i) the volume weighted average price of our common stock for 30 consecutive trading days (the “Measurement Period”) exceeds 300% of the initial conversion price of the Series A Preferred Stock (subject to adjustment for forward and reverse stock splits, recapitalizations, stock dividends and similar transactions), (ii) the daily trading volume on each Trading Day during such Measurement Period exceeds $500,000 per trading day and (iii) the holder is not in possession of any information that constitutes or might constitute, material non-public information which was provided by the Company. The right to cause each holder of the Series A Preferred Stock to convert all or part of such holder’s Series A Preferred Stock shall be exercised ratably among the holders of the then outstanding preferred stock. The Series A Preferred Stock has no maturity date, will carry the same dividend rights as the common stock, and with certain exceptions contains no voting rights. In the event of any liquidation or dissolution of the Company, the Series A Preferred Stock ranks senior to the common stock in the distribution of assets, to the extent legally available for distribution. 6% Convertible Exchangeable Preferred Stock As of September 30, 2017, there were 335,273 shares of the Company’s 6% Convertible Exchangeable Preferred Stock (“6% Preferred Stock”) issued and outstanding at an issue price of $10.00 per share. Dividends on the 6% Preferred Stock are cumulative from the date of original issuance at the annual rate of 6% of the liquidation preference of the 6% Preferred Stock, payable quarterly on the first day of February, May, August and November, commencing February 1, 2005. Any dividends must be declared by the Company’s Board and must come from funds that are legally available for dividend payments. The 6% Preferred Stock has a liquidation preference of $10.00 per share, plus accrued and unpaid dividends. The Company may automatically convert the 6% Preferred Stock into common stock if the per share closing price of the Company’s common stock has exceeded $2,961, which is 150% of the conversion price of the 6% Preferred Stock, for at least 20 trading days during any 30-day trading period, ending within five trading days prior to notice of automatic conversion. The 6% Preferred Stock has no maturity date and no voting rights prior to conversion into common stock, except under limited circumstances. The Company may, at its option, redeem the 6% Preferred Stock in whole or in part, out of funds legally available at the redemption price of $10.00 per share. The 6% Preferred Stock is exchangeable, in whole but not in part, at the option of the Company on any dividend payment date beginning on November 1, 2005 (the “Exchange Date”) for the Company’s 6% Convertible Subordinated Debentures (“Debentures”) at the rate of $10.00 principal amount of Debentures for each share of 6% Preferred Stock. The Debentures, if issued, will mature 25 years after the Exchange Date and have terms substantially similar to those of the 6% Preferred Stock. No such exchanges have taken place to date. On September 7, 2017, the Board declared a quarterly cash dividend in the amount of $0.15 per share on the 6% Preferred Stock. The cash dividend was paid on November 1, 2017 to the holders of record of the 6% Preferred Stock as of the close of business on October 13, 2017.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events On October 17 2017, 400 shares of Series A preferred stock were converted into 200,000 shares of common stock. 264 shares of Series A preferred stock remain outstanding and are convertible into 132,000 shares of common stock. On October 23 2017, 7,500 warrants connected with the July 2017 Underwritten Public Offering were exercised, resulting in cash proceeds of $15,000.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated balance sheet as of September 30, 2017, the consolidated statements of operations, comprehensive loss and cash flows, and all related disclosures contained in the accompanying notes are unaudited. The consolidated balance sheet as of December 31, 2016 is derived from the audited consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the Securities and Exchange Commission (“SEC”). The consolidated financial statements are presented on the basis of accounting principles that are generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the SEC. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments necessary to present fairly the consolidated balance sheet as of September 30, 2017, the results of operations and comprehensive loss for the three and nine months ended September 30, 2017 and cash flows for the nine months ended September 30, 2017, have been made. The interim results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results to be expected for the year ending December 31, 2017 or for any other year. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the accompanying notes for the year ended December 31, 2016 that are included in the Company’s Annual Report on Form 10-K filed with the SEC.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical estimates include inputs used to determine the fair value of warrants issued during the reporting period, clinical trial accruals, research and development expenditures, stock-based compensation expense and the recognition of revenue, each of which Cyclacel reviews on an ongoing basis. The estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results may differ from these estimates.
Risks and Uncertainties	Risks and Uncertainties Drug candidates developed by the Company typically will require approvals or clearances from the Food and Drug Administration (“FDA”), European Medicines Agency (“EMA”) or other international regulatory agencies prior to commercial sales. There can be no assurance that the Company’s drug candidates will receive any of the required approvals or clearances. If the Company was denied approval or clearance or such approval was delayed, or is unable to obtain the necessary financing to complete the development and approval processes, there will be a material adverse impact on the Company’s financial condition and results of operations. The Company has relied upon government grants to fund certain of its earlier stage programs and does not expect to be able to continue to be successful in obtaining government grants to fund the Company’s research and development activities.
Going Concern	Going Concern Management considers that there are no conditions or events, in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern for a period of at least one year from the date the financial statements are issued. The Company expects that its cash of $26.0 million as of September 30, 2017, will be sufficient to fund its operating expenses and capital expenditure requirements through to the end of 2019. This evaluation is based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued, including: a. The Company’s current financial condition, including its liquidity sources; b. The Company’s conditional and unconditional obligations due or anticipated within one year; c. The funds necessary to maintain the Company’s operations considering its current financial condition, obligations, and other expected cash flows; and d. Other conditions and events, when considered in conjunction with the above, that may adversely affect the Company’s ability to meet its obligations. The future viability of the Company beyond the end of 2019 is dependent on its ability to raise additional capital to finance its operations. The Company will need to raise substantial additional capital to pursue the transcriptional regulation program evaluating CYC065, a CDK inhibitor, in patients with advanced cancers, or the DNA damage response program evaluating a sequential regimen of sapacitabine and CDK inhibitors, in patients with BRCA positive, advanced solid cancers. Additional funding may not be available to the Company on favorable terms, or at all. If the Company is unable to obtain additional funds, it will need to reduce operating expenses, enter into a collaboration or other similar arrangement with respect to development and/or commercialization rights to its CDK inhibitors or sapacitabine, if available, or be forced to delay or reduce the scope of its CDK inhibitors and sapacitabine development programs, including any potential regulatory filings related to the SEAMLESS study, and/or limit or cease its operations. The Company’s inability to raise capital as and when needed could have a negative impact on its financial condition and ability to pursue its business strategies.
Segments	Segments The Company is managed and operated as one business which is focused on using cell cycle, transcriptional regulation, and DNA damage response biology to develop innovative, targeted medicines for cancer and other proliferative diseases.The entire business is managed by a single management team that reports to the Chief Executive Officer. The Company does not operate separate lines of business with respect to any of its products or product candidates and the Company does not prepare discrete financial information with respect to separate products or product candidates or by location. Accordingly, the Company views its business as one reportable operating segment with development operations in two geographic areas, namely the United States and the United Kingdom.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the time of initial purchase to be cash equivalents. The objectives of the Company’s cash management policy are to safeguard and preserve funds, to maintain liquidity sufficient to meet Cyclacel’s cash flow requirements and to attain a market rate of return. The Company’s cash and cash equivalents balance at September 30, 2017 was $26.0 million and it maintains its cash accounts both within the United States and the United Kingdom. Cash held in the United States is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per account. The Company has cash balances exceeding the balance insured by the FDIC that totalled approximately $24.3 million at September 30, 2017. Cash held in the United Kingdom is insured by the UK Government Financial Services Compensation Scheme (“FSCS”) up to £75,000 per account. The Company has cash balances exceeding the balance insured by the FSCS that totalled approximately $1.4 million at September 30, 2017.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial instruments consist of cash equivalents, accounts payable and accrued liabilities. The carrying amounts of cash equivalents, accounts payable and accrued liabilities approximate their respective fair values due to the nature of the accounts, notably their short maturities.
Comprehensive Income (Loss)	Comprehensive Income (Loss) All components of comprehensive income (loss), including net income (loss), are 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. Net income (loss) and other comprehensive income (loss), including foreign currency translation adjustments, are reported, net of any related tax effect, to arrive at comprehensive income (loss). No taxes were recorded on items of other comprehensive income (loss). There were no reclassifications out of other comprehensive income (loss) during the three and nine months ended September 30, 2016 and 2017.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In July 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-11, Accounting for Certain Financial Instruments with Down Round Features (“ASU 2017-11), which simplifies the accounting for certain financial instruments with down-round features. ASU 2017-11 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. ASU 2017-11 should be adopted retrospectively for each prior reporting period presented or retrospectively as of the beginning of the year of adoption. The Company anticipates this standard will not have a material impact on In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory (‘‘ASU 2016-16’’), which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The standard is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The Company anticipates this standard will not have a material impact on In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), to address diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The standard is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The Company anticipates this standard will not have a material impact on In February 2016, the FASB issued guidance on accounting for leases in ASU No, 2016-02. The guidance requires that lessees recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term at the commencement date. The guidance is effective for fiscal years beginning after December 15, 2018. Early application is permitted. The guidance must be adopted on a modified retrospective transition approach for leases existing, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the impact of the guidance on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (‘‘ASU 2014-09’’), which supersedes existing revenue recognition guidance. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The standard defines a five-step process to achieve this principle; (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the Company satisfies a performance obligation. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The guidance is effective for annual periods beginning after December 15, 2017 and for interim periods within those fiscal years. ASU 2014-09 was amended by multiple accounting standards updates from 2014-2016. The Company anticipates this standard will not have a material impact on its consolidated financial statements. While the Company is continuing to assess all potential impacts of the standard, the Company currently believes the most significant impact relates to its accounting for revenues related to grants received from government agencies or nonprofit organizations and revenues from contingent “milestone” based payments. Under the new standard, the Company expects to report grant revenue, if new grants are obtained, in other income (or in some cases as a contra-expense). Historically, grants have been reported in revenue. As the grantor is not likely to be receiving a good or service in exchange for the payment, the grant cannot be reported in revenue under ASU 2014-09. The Company also expects to recognize revenue associated with contingent milestone-based payments at the time the contingent event is probable to be met, rather than when the milestone is achieved. However, given the limited number of potential milestones owed to Cyclacel, and the inherent risk involved in developing drugs, the timing of revenue recognition associated with contingent milestones is unlikely to be impacted. ASU 2014-09 permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Company currently intends to use the modified retrospective method when it adopts the new accounting standard, and does not anticipate recording a material adjustment to opening accumulated deficit as of the date of adoption.

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of antidilutive shares excluded from computation of diluted net loss per share	September 30, 2016 September 30, 2017 Stock options 393,723 381,786 6% Convertible Exchangeable preferred stock 1,698 1,698 Series A convertible preferred stock - 332,000 Common stock warrants - 7,590,000 Total shares excluded from calculation 395,421 8,305,484

Prepaid Expenses and Other Cu18

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Prepaid Expenses And Other Current Assets [Abstract]
Schedule of prepaid expenses and other current assets	December 31, September 30, 2016 2017 Research and development tax credit receivable $ 1,730 $ 845 Prepayments 867 365 VAT receivable 327 376 Other current assets 173 206 $ 3,097 $ 1,792

Accrued and Other Current Lia19

Accrued and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Payables And Accruals [Abstract]
Schedule of accrued and other current liabilities	December 31, September 30, 2016 2017 Accrued research and development $ 2,138 $ 1,881 Accrued legal and professional fees 194 227 Other current liabilities 430 184 $ 2,762 $ 2,292

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Share-Based Payments [Abstract]
Schedule of stock based compensation expense	Three Months Ended Nine Months Ended 2016 2017 2016 2017 General and administrative $ 113 $ 48 $ 376 $ 146 Research and development 79 17 238 54 Stock-based compensation costs before income taxes $ 192 $ 65 $ 614 $ 200
Schedule of share option activity	Number of Weighted Weighted Aggregate Options outstanding at December 31, 2016 389,379 $ 25.80 5.83 $ 121 Granted 12,000 $ 4.38 Cancelled/forfeited (19,593 ) $ 108.73 Options outstanding at September 30, 2017 381,786 $ 20.87 5.24 $ — Unvested at September 30, 2017 (236,962 ) $ 5.06 4.41 $ — Vested and exercisable at September 30, 2017 144,824 $ 46.73 6.60 $ —

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Detail Textuals) £ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)Segment	Sep. 30, 2017GBP (£)	Dec. 31, 2016USD ($)Segment	Sep. 30, 2016USD ($)	Dec. 30, 2015USD ($)
Accounting Policies [Abstract]
Cash and cash equivalents	$ 26,025,000		$ 16,520,000	$ 18,029,000	$ 20,440,000
Number of operating segments | Segment	1
Number of geographic areas for development operations | Segment			2
Cash balances insured by FDIC	$ 250,000
Cash exceeding balance insured by FDIC	24,300,000
Cash insured by the financial services compensation scheme | £		£ 75,000
Cash exceeding balance insured by FSCS	$ 1,400,000

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details) - shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	8,305,484	395,421
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	381,786	393,723
6% Convertible Exchangeable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	1,698	1,698
Series A convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	332,000	0
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	7,590,000	0

Prepaid Expenses and Other Cu23

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Prepaid Expense and Other Assets, Current [Abstract]
Research and development tax credit receivable	$ 845	$ 1,730
Prepayments	365	867
VAT receivable	376	327
Other current assets	206	173
Prepaid expenses and other current assets	$ 1,792	$ 3,097

Accrued and Other Current Lia24

Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Accrued research and development	$ 1,881	$ 2,138
Accrued legal and professional fees	227	194
Other current liabilities	184	430
Total	$ 2,292	$ 2,762

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs before income taxes	$ 65	$ 192	$ 200	$ 614
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs before income taxes	48	113	146	376
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs before income taxes	$ 17	$ 79	$ 54	$ 238

Stock Based Compensation (Det26

Stock Based Compensation (Details 1) - Stock options - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Number of Options Outstanding
Options outstanding at December 31, 2016	389,379
Granted	12,000
Cancelled/forfeited	(19,593)
Options outstanding at September 30, 2017	381,786
Unvested at September 30, 2017	(236,962)
Vested and exercisable at September 30, 2017	144,824
Weighted Average Exercise Price Per Share
Options outstanding at December 31, 2016	$ 25.80
Granted	4.38
Cancelled/forfeited	108.73
Options outstanding at September 30, 2017	20.87
Unvested at September 30, 2017	5.06
Vested and exercisable at September 30, 2017	$ 46.73
Weighted Average Remaining Contractual Term (Years)
Options outstanding	5 years 2 months 27 days	5 years 9 months 29 days
Unvested at September 30, 2017	4 years 4 months 28 days
Vested and exercisable at September 30, 2017	6 years 7 months 6 days
Aggregate Intrinsic Value
Options outstanding	$ 0		$ 121,000
Unvested at September 30, 2017	0
Vested and exercisable at September 30, 2017	$ 0

Stock Based Compensation (Det27

Stock Based Compensation (Detail Textuals) - shares	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Stock-based compensation
Expiration period	10 years
Minimum
Stock-based compensation
Vesting period	1 year
Maximum
Stock-based compensation
Vesting period	4 years
Stock options
Stock-based compensation
Options granted (in shares)	12,000
Number of outstanding shares	381,786	389,379
Fair value assumptions method used	Black-Scholes option-pricing model
2015 Equity Incentive Plan (the "2015 Plan") | Stock options
Stock-based compensation
Number of shares available for grant	12,000
Number of shares reserved for issuance	612,500
2015 Equity Incentive Plan (the "2015 Plan") | Performance based options
Stock-based compensation
Number of outstanding shares	184,924

Commitments and Contingencies (

Commitments and Contingencies (Detail Textuals) - Daiichi Sankyo $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Supply Commitment [Line Items]
Future milestone payments payable	$ 10
Period for which royalties will be paid following first commercial sale of licensed products	10 years
Notice period for termination of license by the entity for technical, scientific, efficacy, safety, or commercial reasons	6 months
Notice period for termination of license after launch of a sapacitabine-based product by the entity, or by either party for material default	12 months

Stockholders' Equity (Detail Te

Stockholders' Equity (Detail Textuals) - USD ($)	1 Months Ended	9 Months Ended
	Jul. 21, 2017	Sep. 30, 2017	Sep. 30, 2016	Oct. 23, 2017	Oct. 17, 2017	Jul. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Preferred stock, par value (in dollars per share)		$ 0.001					$ 0.001
Proceeds from issuance of common stock		$ 14,751,000	$ 5,241,000
Series A Preferred Stock
Subsequent Event [Line Items]
Number of shares issued upon conversion		332,000				8,208
Price per share used to determine number of shares of common stock		$ 1,000
Ladenburg Thalmann & Co. Inc.
Subsequent Event [Line Items]
Proceeds from issuance of common stock	$ 13,700,000
Underwriting Agreement | Ladenburg Thalmann & Co. Inc. | Series A Preferred Stock
Subsequent Event [Line Items]
Share price per unit (in dollars per share)	$ 2
Number of units authorized for issuance and sale	3,154,000
Aggregate intrinsic value of stock	$ 3,638,000
Underwriting Agreement | Ladenburg Thalmann & Co. Inc. | Class A Units | Common Stock
Subsequent Event [Line Items]
Number of securities called by each unit	1
Number of securities called by each warrant	1
Underwriting Agreement | Ladenburg Thalmann & Co. Inc. | Class B Units
Subsequent Event [Line Items]
Share price per unit (in dollars per share)	$ 1,000
Number of units authorized for issuance and sale	8,872
Preferred stock, par value (in dollars per share)	$ 0.001
Subsequent event | Warrants
Subsequent Event [Line Items]
Number of securities called by each warrant				7,500
Subsequent event | Series A Preferred Stock
Subsequent Event [Line Items]
Number of shares issued upon conversion					200,000

Stockholders' Equity (Detail 30

Stockholders' Equity (Detail Textuals 1) - FBR Sales Agreement - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jun. 23, 2016	Sep. 30, 2017
Stockholders' equity
Percentage of commission on gross equity sales	3.00%
Number of common stock issued		183,118
Sale of stock, value		$ 1.1

Stockholders' Equity (Detail 31

Stockholders' Equity (Detail Textual 2) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)$ / shares
Stockholders' Equity Note [Abstract]
Number of warrant outstanding | $	$ 7,590,000
Warrant exercise price | $ / shares	$ 2
Condition related to exercising warrants	The Warrants expire in 2024. Subject to limited exceptions, a holder of warrants will not have the right to exercise any portion of its warrants if the holder (together with such holder's affiliates, and any persons acting as a group together with such holder or any of such holder's affiliates) would beneficially own a number of shares of common stock in excess of 4.99% (or, at the election of the purchaser, 9.99%) of the shares of our Common Stock then outstanding after giving effect to such exercise.

Stockholders' Equity (Detail 32

Stockholders' Equity (Detail Textuals 3) - $ / shares	Sep. 07, 2017	Jul. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued		8,872	664	0
Number of shares issued upon conversion		8,208	332,000
Number of shares converted		4,104,000
Price per share used to determine number of shares of common stock			$ 1,000
Conversion price of convertible preferred stock			$ 2
Percentage of blocker provision			4.99%
Conversion percentage			9.99%
Condition related to events occurrence for conversion of preferred stock			(i) the volume weighted average price of our common stock for 30 consecutive trading days (the "Measurement Period") exceeds 300% of the initial conversion price of the Series A Preferred Stock (subject to adjustment for forward and reverse stock splits, recapitalizations, stock dividends and similar transactions), (ii) the daily trading volume on each Trading Day during such Measurement Period exceeds $500,000 per trading day and (iii) the holder is not in possession of any information that constitutes or might constitute, material non-public information which was provided by the Company.
Preferred stock, shares outstanding			664	0
6% Convertible Exchangeable Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued			335,273	335,273
Preferred stock, shares outstanding			335,273	335,273
Dividend rate on convertible exchangeable preferred stock (in percent)			6.00%
Share issue price per share			$ 10
Liquidation preference (in dollars per share)			10
Share Price			$ 2,961
Percentage of closing sales price of common stock that conversion price must exceed in order for preferred stock to be convertible			150.00%
Number of trading days within 30 trading days in which the closing price of common stock must exceed conversion price for preferred stock to be convertible			20 days
Number of trading days during which closing price of common stock must exceed conversion price for at least 20 days in order for the preferred stock to be convertible			30 days
Number of trading days prior to notice of automatic conversion			5 days
Redemption price per share (in dollars per share)			$ 10
Interest rate of Convertible Subordinated Debentures (as a percent)			6.00%
Debt principal amount per share, basis for exchange (in dollars per share)			$ 10
Debt instrument, term			25 years
Preferred stock dividend declared, amount per share	$ 0.15
Dividend declared, date	Sep. 7, 2017
Dividend paid, date	Nov. 1, 2017
Dividend, record date	Oct. 13, 2017

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) - USD ($)	1 Months Ended
	Oct. 23, 2017	Oct. 17, 2017	Jul. 31, 2017	Sep. 30, 2017
Series A Preferred Stock
Subsequent Event [Line Items]
Number of shares converted			4,104,000
Number of shares issued upon conversion			8,208	332,000
Subsequent event | Series A Preferred Stock
Subsequent Event [Line Items]
Number of shares converted		400
Number of shares issued upon conversion		200,000
Number of shares outstanding for conversion		264
Number of outstanding shares issued upon conversion		$ 132,000
Subsequent event | Warrants
Subsequent Event [Line Items]
Number of warrants connected with Underwritten Public Offering	7,500
Proceeds from exercise of warrants	$ 15,000