Cyclacel Pharmaceuticals (CYCC) 10-Q 13 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 09, 2018
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	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		12,497,447
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 18,973	$ 23,910
Prepaid expenses and other current assets	1,696	2,064
Total current assets	20,669	25,974
Property and equipment, net Property and equipment, net	38	29
Total assets	20,707	26,003
Current liabilities:
Accounts payable	1,411	1,558
Accrued and other current liabilities	2,592	2,555
Total current liabilities	4,003	4,113
Other liabilities	106	124
Total liabilities	4,109	4,237
Stockholders' equity:
Preferred stock, value
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2017 and September 30, 2018; 11,997,447 shares issued and outstanding at December 31, 2017 and September 30, 2018.	12	12
Additional paid-in capital	365,160	365,057
Accumulated other comprehensive loss	(796)	(794)
Accumulated deficit	(347,778)	(342,509)
Total stockholders' equity	16,598	21,766
Total liabilities and stockholders' equity	20,707	26,003
Convertible Exchangeable Preferred Stock
Stockholders' equity:
Preferred stock, value
Series A convertible preferred stock
Stockholders' equity:
Preferred stock, value

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
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	11,997,447	11,997,447
Common stock, shares outstanding	11,997,447	11,997,447
6% Convertible Exchangeable Preferred Stock
Preferred stock, shares issued	335,273	335,273
Preferred stock, shares outstanding	335,273	335,273
Series A convertible preferred stock
Preferred stock, shares issued	264	264
Preferred stock, shares outstanding	264	264

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Total revenues	$ 0	$ 0	$ 0	$ 0
Operating expenses:
Research and development	1,205	958	3,185	3,491
General and administrative	1,250	1,154	3,898	3,802
Total operating expenses	2,455	2,112	7,083	7,293
Operating loss	(2,455)	(2,112)	(7,083)	(7,293)
Other income (expense):
Foreign exchange gains (losses)	1	(22)	(42)	(65)
Interest income	85	30	238	59
Other income, net		28	632	907
Total other income	86	36	828	901
Loss before taxes	(2,369)	(2,076)	(6,255)	(6,392)
Income tax benefit	301	219	985	793
Net loss	(2,068)	(1,857)	(5,270)	(5,599)
Dividend on convertible exchangeable preferred shares	(50)	(50)	(151)	(151)
Beneficial conversion feature of Series A convertible stock		(3,638)		(3,638)
Conversion of Series A convertible preferred stock		(3,373)		(3,373)
Net loss applicable to common shareholders	$ (2,118)	$ (8,918)	$ (5,421)	$ (12,761)
Basic and diluted earnings per common share:
Net loss per share-basic and diluted (in dollars per share)	$ (0.18)	$ (0.91)	$ (0.45)	$ (2.06)
Weighted average common shares outstanding (in shares)	11,997,447	9,835,441	11,997,447	6,200,783

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (2,068)	$ (1,857)	$ (5,270)	$ (5,599)
Translation adjustment	2,263	(4,882)	5,559	(13,435)
Unrealized foreign exchange gain on intercompany loans	(2,261)	4,856	(5,562)	13,417
Comprehensive loss	$ (2,066)	$ (1,883)	$ (5,273)	$ (5,617)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating activities:
Net loss	$ (5,270)	$ (5,599)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	22	25
Stock-based compensation	255	200
Changes in operating assets and liabilities:
Prepaid expenses and other assets	320	1,464
Accounts payable and other current liabilities	8	(1,350)
Net cash used in operating activities	(4,665)	(5,260)
Investing activities:
Purchase of property, plant and equipment	(33)	(11)
Net cash used in investing activities	(33)	(11)
Financing activities:
Proceeds from issuance of common stock, net of issuance costs		14,751
Payment of preferred stock dividend	(151)	(151)
Net cash provided by (used in) financing activities	(151)	14,600
Effect of exchange rate changes on cash and cash equivalents	(88)	176
Net increase (decrease) in cash and cash equivalents	(4,937)	9,505
Cash and cash equivalents, beginning of period	23,910	16,520
Cash and cash equivalents, end of period	18,973	26,025
Cash received during the period for:
Interest	238	60
Taxes	1,158	1,815
Non cash financing activities:
Accrual of preferred stock dividends	$ 50	$ 50

Company Overview

Company Overview	9 Months Ended
	Sep. 30, 2018
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, 2018, 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, 2018
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, 2018, the consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2018 and 2017 and the consolidated statements of cash flows for the nine months ended September 30, 2018 and 2017, and all related disclosures contained in the accompanying notes are unaudited. The consolidated balance sheet as of December 31, 2017 is derived from the audited consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2017 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, 2018, and the results of operations and comprehensive loss for the three and nine months ended September 30, 2018 and cash flows for the nine months ended September 30, 2018, have been made. The interim results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018 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, 2017 that are included in the Company’s Annual Report on Form 10-K filed with the SEC. 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 approximately $19.0 million as of September 30, 2018 will be sufficient to fund its operating expenses and capital expenditure requirements through to the second quarter of 2020. 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 sources of liquidity; 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 second quarter of 2020 is dependent on its ability to raise additional capital to finance its operations. The Company will need to raise substantial additional capital to pursue it’s transcriptional regulation program evaluating CYC065 in patients with advanced cancers, the DNA damage response and CYC140 programs. 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 development candidates, if available, or be forced to cancel or delay or reduce the scope of its current development programs, including any potential regulatory filings related to the SEAMLESS study of sapacitabine, 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. 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 months and nine months ended September 30, 2017 and 2018. Revenue recognition On January 1, 2018, the Company adopted new guidance on revenue recognition, which has been codified within Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers With effect from January 1, 2018, the Company recognizes revenue using the five step model provided in ASC 606: (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. The transaction price includes fixed payments and an estimate of variable consideration, including milestone payments. The Company determines the variable consideration to be included in the transaction price by estimating the most likely amount that will be received and then applies a constraint to reduce the consideration to the amount which is probable of being received. When applying the constraint, the Company considers: · Whether achievement of a development milestone is highly susceptible to factors outside the entity’s influence, such as milestones involving the judgment or actions of third parties, including regulatory bodies; · Whether the uncertainty about the achievement of a milestone is not expected to be resolved for a long period of time; · Whether the Company can reasonably predict that a milestone will be achieved based on previous experience; and. · The complexity and inherent uncertainty underlying the achievement of a milestone. The transaction price is allocated to each performance obligation based on the relative selling price of each performance obligation. The best estimate of the selling price is determined after considering all reasonably available information, including market data and conditions, entity-specific factors such as the cost structure of the deliverable and internal profit and pricing objectives. The revenue allocated to each performance obligation is recognized as or when the Company satisfies the performance obligation. The Company recognizes a contract asset, when the value of satisfied (or part satisfied) performance obligations is in excess of the payment due to the Company, and deferred revenue when the amount of unconditional consideration is in excess of the value of satisfied (or part satisfied) performance obligations. Once a right to receive consideration is unconditional, that amount is presented as a receivable. With effect from January 1, 2018, grant revenue, if new grants are obtained, will be presented as a reduction of research and development expenses. Accounting standards adopted in the period The Company has adopted Accounting Standards Update (“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. T he adoption of this standard did not have a material impact on The Company has adopted 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. T he adoption of this standard did not have a material impact on The Company has adopted 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. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The Company has adopted the guidance on using a modified retrospective approach with the cumulative effect of initially applying the guidance recognized as of January 1, 2018. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements and it did not have a cumulative effect requiring adjustment to opening retained earnings. 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 will report grant revenue, if new grants are obtained in a nonreciprocal transaction, as a reduction of the corresponding research and development expense. Historically grants have been reported in revenue, but 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. The Company also expects to recognize revenue associated with contingent milestone-based payments at the time the contingent event is likely 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 when milestones are recognized as revenues is unlikely to be affected. Recently Issued Accounting Pronouncements In July 2017, the FASB issued 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. A down round feature is a provision in a financial instrument that reduces the strike price of an issued financial instrument if the issuer sells shares of its stock for an amount less than the currently stated strike price of the issued financial instrument or issues an equity-linked financial instrument with a strike price below the currently stated strike price of the issued financial instrument. 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 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 in ASU 2016-02 may 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 August 2018, the FASB issued ASU 2018-11, Leases, which, in addition to the existing requirements to transition, permits an entity to adopt the new lease accounting guidelines by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without restating prior periods. The Company is currently evaluating the impact of the guidance on the consolidated financial statements. We anticipate adopting this as of January 1, 2019 without recasting prior periods. We anticipate that the adoption of the guidance will have a material impact on the Company’s consolidated balance sheet due to the recognition of a lease liability and corresponding right-of-use asset.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2018
Revenue Recognition [Abstract]
Revenue	3. Revenue Revenue recognized in the three and nine months ended September 30, 2017 and 2018 was $0. Deferred revenue as of December 31, 2017 and September 30, 2018 was $150,000 and is included in Accrued and other current liabilities on the accompanying balance sheets. We expect to recognize this deferred revenue by the end of 2018. The aggregate transaction price that is allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2018 was $0.

Net Loss Per Common Share

Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Net Loss Per Common Share	4. 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 by the weighted average number of shares of common stock outstanding during the period. The following potentially dilutive securities have not been included in the computation of diluted net loss per share for the three and nine months ended September 30, 2017 and 2018, as the result would be anti-dilutive: September 30, September 30, Stock options 381,786 836,850 Convertible preferred stock 1,698 1,698 Series A preferred stock 332,000 132,000 Common stock warrants 7,590,000 7,490,500 Total shares excluded from calculation 8,305,484 8,461,048

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2018
Prepaid Expenses And Other Current Assets [Abstract]
Prepaid Expenses and Other Current Assets	5. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in $000s): December 31, September 30, 2017 2018 Research and development tax credit receivable $ 1,054 $ 816 Prepayments and VAT receivable 772 798 Other current assets 238 82 $ 2,064 $ 1,696

Accrued and Other Liabilities

Accrued and Other Liabilities	9 Months Ended
	Sep. 30, 2018
Payables And Accruals [Abstract]
Accrued and Other Liabilities	6. Accrued and Other Liabilities Accrued and other current liabilities consisted of the following (in $000s): December 31, September 30, 2017 2018 Accrued research and development $ 1,645 $ 1,968 Accrued legal and professional fees 248 320 Other current liabilities 662 304 $ 2,555 $ 2,592 Other current liabilities at December 31, 2017 and September 30, 2018 include $150,000 of deferred revenue in respect of payment received in advance of achieving a milestone under the ManRos agreement.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2018
Disclosure Of Compensation Related Costs Share-Based Payments [Abstract]
Stock Based Compensation	7. 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. The Company recognizes all share-based awards under the straight-line attribution method, assuming that all granted awards will vest. Forfeitures are recognized in the periods when they occur. 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, 2017 and 2018 as shown in the following table (in $000s): Three Months Ended Nine Months Ended 2017 2018 2017 2018 General and administrative $ 48 $ 66 $ 146 $ 188 Research and development 17 22 54 67 Stock-based compensation costs $ 65 $ 88 $ 200 $ 255 2018 Plan In May 2018, the Company’s stockholders approved the 2018 Equity Incentive Plan (the “2018 Plan”), under which Cyclacel may make equity incentive grants to its officers, employees, directors and consultants. The 2018 Plan replaces the 2015 Equity Incentive Plan (the “2015 Plan”). The 2018 Plan allows for the issuance of up to 1,500,000 shares of the Company’s common stock pursuant to various types of award grants, including stock options and restricted stock units. In addition, the 2018 Plan allows up to 709,889 additional shares to be issued if awards outstanding under the 2018 Plan are cancelled or expire on or after the date of the Company’s 2018 annual meeting of stockholders. As of September 30, 2018, the Company has reserved 1,657,500 shares of the Company’s common stock under the 2018 Plan, including shares that were available under the 2015 Plan and carried forward to the 2018 Plan. Stock option awards granted under the Company’s equity incentive plans have a maximum life of 10 years and generally vest over a one to four-year period from the date of grant. There were 306,304 options granted during the nine months ended September 30, 2018. These options had grant date fair values ranging between $1.17-$1.29 per option. Of these options, approximately 174,272 are performance based and will vest upon the fulfillment of certain clinical objectives. The Company determined that the satisfaction of one of the objectives was probable as of September 30, 2018, but that the other vesting criteria related to these awards were not probable as of September 30, 2018. As such, the Company recognized compensation cost for these grants under the expectation that 25% of these awards will vest. There were 170,853 options granted during the year ended December 31, 2017. Of these options, 158,853 are performance based, which will vest upon the fulfillment of certain clinical objectives. The Company determined that the satisfaction of one of the objectives was probable as of September 30, 2018, but that the other vesting criteria related to these awards were not probable as of September 30, 2018. As such, the Company recognized compensation cost for these grants under the expectation that 25% of these awards will vest. There were no stock options exercised during each of the nine months ended September 30, 2017 and 2018, respectively. The Company does not expect to be able to benefit from the deduction for stock option exercises that may occur because the company has tax loss carryforwards from prior periods that would be expected to offset any potential taxable income. 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, 2017 535,617 11.10 8.23 — Granted 306,304 1.51 Cancelled/forfeited (5,071 ) 129.31 Options outstanding at September 30, 2018 836,850 6.87 8.26 — Unvested at September 30, 2018 (653,697 ) 2.52 8.79 — Vested and exercisable at September 30, 2018 183,153 22.41 6.38 — The fair value of the stock options granted is calculated using the Black-Scholes option-pricing model as prescribed by ASC 718.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2018
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 $13.7 million, 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. Warrants As of September 30, 2018, there were 7,490,500 warrants to purchase the Company’s common stock 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 and nine months ended September 30, 2018. 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 year ended December 31, 2017, 8,608 shares of the Series A Preferred Stock were converted into 4,304,000 shares of common stock. As of September 30, 2018, 264 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 264 shares of Series A Preferred Stock issued and outstanding at September 30, 2018, are convertible into 132,000 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, 2018, 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On September 6, 2018, the Board of Directors declared a quarterly cash dividend in the amount of $0.15 per share on the Company’s Preferred Stock. The cash dividend was paid on November 1, 2018 to the holders of record of the Preferred Stock as of the close of business on October 15, 2018. On October 4, 2018, the Company entered into a Common Stock Sales Agreement, or the Sales Agreement, with H.C. Wainwright & Co., LLC, or Wainwright, as sales agent, pursuant to which Wainwright may sell shares of our common stock, par value $0.001 per share, having an aggregate offering price of up to $5,000,000, by any method that is deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. Shares sold under the Sales Agreement will be offered and sold pursuant to the Company’s previously filed and effective Registration Statement on Form S-3 and a prospectus supplement and accompanying base prospectus. The Company will pay Wainwright a commission of 3.0% of the gross sales price per share sold.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated balance sheet as of September 30, 2018, the consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2018 and 2017 and the consolidated statements of cash flows for the nine months ended September 30, 2018 and 2017, and all related disclosures contained in the accompanying notes are unaudited. The consolidated balance sheet as of December 31, 2017 is derived from the audited consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2017 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, 2018, and the results of operations and comprehensive loss for the three and nine months ended September 30, 2018 and cash flows for the nine months ended September 30, 2018, have been made. The interim results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018 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, 2017 that are included in the Company’s Annual Report on Form 10-K filed with the SEC.
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 approximately $19.0 million as of September 30, 2018 will be sufficient to fund its operating expenses and capital expenditure requirements through to the second quarter of 2020. 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 sources of liquidity; 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 second quarter of 2020 is dependent on its ability to raise additional capital to finance its operations. The Company will need to raise substantial additional capital to pursue it’s transcriptional regulation program evaluating CYC065 in patients with advanced cancers, the DNA damage response and CYC140 programs. 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 development candidates, if available, or be forced to cancel or delay or reduce the scope of its current development programs, including any potential regulatory filings related to the SEAMLESS study of sapacitabine, 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.
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 months and nine months ended September 30, 2017 and 2018.
Revenue recognition	Revenue recognition On January 1, 2018, the Company adopted new guidance on revenue recognition, which has been codified within Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers With effect from January 1, 2018, the Company recognizes revenue using the five step model provided in ASC 606: (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. The transaction price includes fixed payments and an estimate of variable consideration, including milestone payments. The Company determines the variable consideration to be included in the transaction price by estimating the most likely amount that will be received and then applies a constraint to reduce the consideration to the amount which is probable of being received. When applying the constraint, the Company considers: · Whether achievement of a development milestone is highly susceptible to factors outside the entity’s influence, such as milestones involving the judgment or actions of third parties, including regulatory bodies; · Whether the uncertainty about the achievement of a milestone is not expected to be resolved for a long period of time; · Whether the Company can reasonably predict that a milestone will be achieved based on previous experience; and. · The complexity and inherent uncertainty underlying the achievement of a milestone. The transaction price is allocated to each performance obligation based on the relative selling price of each performance obligation. The best estimate of the selling price is determined after considering all reasonably available information, including market data and conditions, entity-specific factors such as the cost structure of the deliverable and internal profit and pricing objectives. The revenue allocated to each performance obligation is recognized as or when the Company satisfies the performance obligation. The Company recognizes a contract asset, when the value of satisfied (or part satisfied) performance obligations is in excess of the payment due to the Company, and deferred revenue when the amount of unconditional consideration is in excess of the value of satisfied (or part satisfied) performance obligations. Once a right to receive consideration is unconditional, that amount is presented as a receivable. With effect from January 1, 2018, grant revenue, if new grants are obtained, will be presented as a reduction of research and development expenses.
Recently Issued Accounting Pronouncements	Accounting standards adopted in the period The Company has adopted Accounting Standards Update (“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. T he adoption of this standard did not have a material impact on The Company has adopted 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. T he adoption of this standard did not have a material impact on The Company has adopted 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. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The Company has adopted the guidance on using a modified retrospective approach with the cumulative effect of initially applying the guidance recognized as of January 1, 2018. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements and it did not have a cumulative effect requiring adjustment to opening retained earnings. 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 will report grant revenue, if new grants are obtained in a nonreciprocal transaction, as a reduction of the corresponding research and development expense. Historically grants have been reported in revenue, but 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. The Company also expects to recognize revenue associated with contingent milestone-based payments at the time the contingent event is likely 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 when milestones are recognized as revenues is unlikely to be affected. Recently Issued Accounting Pronouncements In July 2017, the FASB issued 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. A down round feature is a provision in a financial instrument that reduces the strike price of an issued financial instrument if the issuer sells shares of its stock for an amount less than the currently stated strike price of the issued financial instrument or issues an equity-linked financial instrument with a strike price below the currently stated strike price of the issued financial instrument. 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 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 in ASU 2016-02 may 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 August 2018, the FASB issued ASU 2018-11, Leases, which, in addition to the existing requirements to transition, permits an entity to adopt the new lease accounting guidelines by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without restating prior periods. The Company is currently evaluating the impact of the guidance on the consolidated financial statements. We anticipate adopting this as of January 1, 2019 without recasting prior periods. We anticipate that the adoption of the guidance will have a material impact on the Company’s consolidated balance sheet due to the recognition of a lease liability and corresponding right-of-use asset.

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of antidilutive shares excluded from computation of diluted net loss per share	September 30, September 30, Stock options 381,786 836,850 Convertible preferred stock 1,698 1,698 Series A preferred stock 332,000 132,000 Common stock warrants 7,590,000 7,490,500 Total shares excluded from calculation 8,305,484 8,461,048

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Prepaid Expenses And Other Current Assets [Abstract]
Schedule of prepaid expenses and other current assets	December 31, September 30, 2017 2018 Research and development tax credit receivable $ 1,054 $ 816 Prepayments and VAT receivable 772 798 Other current assets 238 82 $ 2,064 $ 1,696

Accrued and Other Liabilities (

Accrued and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2018
Payables And Accruals [Abstract]
Schedule of accrued and other current liabilities	December 31, September 30, 2017 2018 Accrued research and development $ 1,645 $ 1,968 Accrued legal and professional fees 248 320 Other current liabilities 662 304 $ 2,555 $ 2,592

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure Of Compensation Related Costs Share-Based Payments [Abstract]
Schedule of stock based compensation expense	Three Months Ended Nine Months Ended 2017 2018 2017 2018 General and administrative $ 48 $ 66 $ 146 $ 188 Research and development 17 22 54 67 Stock-based compensation costs $ 65 $ 88 $ 200 $ 255
Schedule of share option activity	Number of Weighted Weighted Aggregate Options outstanding at December 31, 2017 535,617 11.10 8.23 — Granted 306,304 1.51 Cancelled/forfeited (5,071 ) 129.31 Options outstanding at September 30, 2018 836,850 6.87 8.26 — Unvested at September 30, 2018 (653,697 ) 2.52 8.79 — Vested and exercisable at September 30, 2018 183,153 22.41 6.38 —

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Detail Textuals) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Cash and cash equivalents	$ 18,973	$ 23,910	$ 26,025	$ 16,520

Revenue (Detail Textuals)

Revenue (Detail Textuals) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Revenue Recognition [Abstract]
Revenue	$ 0	$ 0	$ 0	$ 0
Deferred revenue	150,000		150,000		$ 150,000
Aggregate price of transaction allocated to performance obligations	$ 0		$ 0

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	8,305,484	8,461,048
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	381,786	836,850
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	1,698	1,698
Series A preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	332,000	132,000
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	7,590,000	7,490,500

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Prepaid Expense and Other Assets, Current [Abstract]
Research and development tax credit receivable	$ 816	$ 1,054
Prepayments and VAT receivable	798	772
Other current assets	82	238
Prepaid expenses and other current assets	$ 1,696	$ 2,064

Accrued and Other Liabilities_2

Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Payables And Accruals [Abstract]
Accrued research and development	$ 1,968	$ 1,645
Accrued legal and professional fees	320	248
Other current liabilities	304	662
Accrued and other current liabilities	$ 2,592	$ 2,555

Accrued and Other Liabilities_3

Accrued and Other Liabilities (Detail Textuals) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Payables And Accruals [Abstract]
Deferred revenue	$ 150,000	$ 150,000

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs before income taxes	$ 88	$ 65	$ 255	$ 200
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs before income taxes	66	48	188	146
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs before income taxes	$ 22	$ 17	$ 67	$ 54

Stock Based Compensation (Det_2

Stock Based Compensation (Details 1) - Stock options - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Number of Options Outstanding
Options outstanding at December 31, 2017	535,617
Granted	306,304	170,853
Cancelled/forfeited	(5,071)
Options outstanding at September 30, 2018	836,850	535,617
Unvested at September 30, 2018	(653,697)
Vested and exercisable at September 30, 2018	183,153
Weighted Average Exercise Price Per Share
Options outstanding at December 31, 2017	$ 11.10
Granted	1.51
Cancelled/forfeited	129.31
Options outstanding at September 30, 2018	6.87	$ 11.10
Unvested at September 30, 2018	2.52
Vested and exercisable at September 30, 2018	$ 22.41
Weighted Average Remaining Contractual Term (Years)
Options outstanding	8 years 3 months 4 days	8 years 2 months 23 days
Unvested at June 30, 2018	8 years 9 months 15 days
Vested and exercisable at September 30, 2018	6 years 4 months 17 days
Aggregate Intrinsic Value
Options outstanding	$ 0	$ 0
Unvested at June 30, 2018	0
Vested and exercisable at September 30, 2018	$ 0

Stock Based Compensation (Det_3

Stock Based Compensation (Detail Textuals) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Stock options
Stock-based compensation
Options granted (in shares)	306,304	170,853
Percentage of vesting of awards	25.00%	25.00%
Fair value assumptions method used	Black-Scholes option-pricing model
Stock options | Minimum
Stock-based compensation
Grant date fair value	$ 1.17
Stock options | Maximum
Stock-based compensation
Grant date fair value	$ 1.29
Performance based options
Stock-based compensation
Options granted (in shares)	174,272	158,853
2018 Equity Incentive Plan (the "2018 Plan")
Stock-based compensation
Number of authorized shares	1,500,000
Number of authorized additional shares to be issued	709,889
2018 Equity Incentive Plan (the "2018 Plan") | Minimum
Stock-based compensation
Vesting period	1 year
2018 Equity Incentive Plan (the "2018 Plan") | Maximum
Stock-based compensation
Vesting period	4 years
2018 Equity Incentive Plan (the "2018 Plan") | Stock options
Stock-based compensation
Number of shares reserved for issuance	1,657,500
Maximum life of stock option awards granted	10 years

Stockholders' Equity (Detail Te

Stockholders' Equity (Detail Textuals) - USD ($)	1 Months Ended		9 Months Ended
	Jul. 31, 2017	Jul. 21, 2017	Sep. 30, 2018	Dec. 31, 2017
Stockholders Equity [Line Items]
Number of warrant outstanding			$ 7,490,500
Warrant exercise price			$ 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
Preferred stock, par value (in dollars per share)			$ 0.001	$ 0.001
Series A convertible preferred stock
Stockholders Equity [Line Items]
Number of shares issued upon conversion				8,608
Price per share used to determine number of shares of common stock	$ 1,000
Underwriting Agreement | Ladenburg Thalmann & Co. Inc.
Stockholders Equity [Line Items]
Number of units authorized for issuance and sale		13,700,000
Underwriting Agreement | Ladenburg Thalmann & Co. Inc. | Class A Units
Stockholders Equity [Line Items]
Number of units authorized for issuance and sale		3,154,000
Share price per unit (in dollars per share)		$ 2
Underwriting Agreement | Ladenburg Thalmann & Co. Inc. | Class A Units | Common Stock
Stockholders Equity [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
Stockholders Equity [Line Items]
Number of units authorized for issuance and sale		8,872
Share price per unit (in dollars per share)		$ 0.001
Underwriting Agreement | Ladenburg Thalmann & Co. Inc. | Class B Units | Common Stock
Stockholders Equity [Line Items]
Number of shares issued upon conversion		500
Price per share used to determine number of shares of common stock		$ 1,000
Conversion price		$ 1,000
Underwriting Agreement | Ladenburg Thalmann & Co. Inc. | Class B Units | Series A convertible preferred stock
Stockholders Equity [Line Items]
Number of securities called by each unit		1
Preferred stock, par value (in dollars per share)		$ 0.001

Stockholders' Equity (Detail _2

Stockholders' Equity (Detail Textuals 1) - $ / shares	1 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2017	Sep. 30, 2018	Dec. 31, 2017
Series A convertible preferred stock
Class of Stock [Line Items]
Preferred stock, shares issued	8,872	264	264
Number of shares issued upon conversion			8,608
Number of shares converted		132,000	4,304,000
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		264	264
6% Convertible Exchangeable Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued		335,273	335,273
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
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 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

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) - USD ($)	Oct. 04, 2018	Sep. 06, 2018	Sep. 30, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)			$ 0.001	$ 0.001
Subsequent Event [Member] | H.C. Wainwright & Co., LLC | Sales Agreement
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)	$ 0.001
Aggregate offering price	$ 5,000,000
Selling commissions, percentage	3.00%
Board of Directors
Subsequent Event [Line Items]
Preferred stock dividend declared, amount per share		$ 0.15
Dividend declared, date		Sep. 6, 2018
Dividends payable, date to be paid		Nov. 1, 2018
Dividend, record date		Oct. 15, 2018