Bio-Path (BPTH) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 07, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	BIO-PATH HOLDINGS INC
Entity Central Index Key	1,133,818
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Accelerated Filer
Trading Symbol	BPTH
Entity Common Stock, Shares Outstanding		113,390,320

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash	$ 4,623	$ 9,375
Prepaid drug product for testing	653	376
Other current assets	511	902
Total current assets	5,787	10,653
Fixed assets
Furniture, fixtures & equipment	999	708
Less accumulated depreciation	(279)	(94)
Property, Plant and Equipment, Net	720	614
Other assets
Technology licenses	2,500	2,500
Less accumulated amortization	(1,691)	(1,571)
Intangible Assets, Net (Excluding Goodwill), Total	809	929
Total Assets	7,316	12,196
Current liabilities
Accounts payable	121	69
Accrued expenses	634	969
Deferred revenue	12	12
Total current liabilities	767	1,050
Warrant liability	0	2,906
Total Liabilities	767	3,956
Shareholders' equity
Preferred stock, $.001 par value; 10,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $.001 par value; 200,000 shares authorized; 100,057 and 95,645 shares issued and outstanding, respectively	100	96
Additional paid in capital	43,439	40,278
Accumulated deficit	(36,990)	(32,134)
Total shareholders' equity	6,549	8,240
Total Liabilities & Shareholders' Equity	$ 7,316	$ 12,196

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2017	Dec. 31, 2016
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000	10,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	200,000	200,000
Common Stock, shares issued	100,057	95,645
Common Stock, shares outstanding	100,057	95,645

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue	$ 0	$ 0	$ 0	$ 0
Operating expenses
Research and development	1,583	2,313	4,089	4,520
General and administrative	893	681	2,708	2,287
Total operating expenses	2,476	2,994	6,797	6,807
Net operating loss	(2,476)	(2,994)	(6,797)	(6,807)
Other income (loss)
Change in fair value of warrant liability	0	1,420	2,374	1,420
Loss on extinguishment of warrant liability	0	0	(440)	0
Interest income	2	4	7	8
Total other income	2	1,424	1,941	1,428
Net loss	(2,474)	(1,570)	(4,856)	(5,379)
Deemed dividend related to warrant conversion	0	0	(1,038)	0
Net loss attributable to common stockholders	$ (2,474)	$ (1,570)	$ (5,894)	$ (5,379)
Loss per share
Net loss per share, basic and diluted	$ (0.02)	$ (0.02)	$ (0.06)	$ (0.06)
Basic and diluted weighted average number of common shares outstanding	100,057	95,645	98,096	91,724

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flow from operating activities
Net loss	$ (4,856)	$ (5,379)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization	120	121
Depreciation	185	31
Stock-based compensation	675	550
Change in fair value of warrant liability	(2,374)	(1,420)
Loss on extinguishment of warrant liability	440	0
(Increase) decrease in assets
Prepaid drug product for testing	(277)	364
Other current assets	391	(733)
Increase (decrease) in liabilities
Accounts payable and accrued expenses	(36)	(71)
Net cash used in operating activities	(5,732)	(6,537)
Cash flow from investing activities
Purchases of furniture, fixtures & equipment	(538)	(25)
Net cash used in investing activities	(538)	(25)
Cash flow from financing activities
Net proceeds from sale of common stock	0	9,007
Net proceeds from exercise of warrants	1,518	0
Net cash provided by financing activities	1,518	9,007
Net increase (decrease) in cash	(4,752)	2,445
Cash, beginning of period	9,375	8,854
Cash, end of period	4,623	11,299
Non-cash financing activities
Incremental fair value of warrant liability modification	797	0
Conversion of warrant liability to equity	$ 175	$ 0

Organization and Business

Organization and Business	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	1. Organization and Business The Company is a clinical and preclinical stage oncology focused RNAi nano particle drug development company utilizing a novel technology that achieves systemic delivery of antisense drug substances for target specific protein inhibition for any gene product that is over-expressed in disease. The Company’s drug delivery and antisense technology, called DNAbilize™, is a platform that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification that is intended to protect the DNA from destruction by the body’s enzymes in vivo Using DNAbilize™ as a platform for drug development and manufacturing, we currently have two antisense drug candidates in development to treat a total of five different disease indications. Our lead drug candidate, prexigebersen (pronounced prex” i je ber’ sen), targets the protein Grb2 and has entered the efficacy portion of a Phase II clinical trial for acute myeloid leukemia (AML) and is preparing to enter the safety segment of a Phase II clinical trial for blast phase and accelerated phase chronic myelogenous leukemia (CML). Prexigebersen is also in preclinical studies for solid tumors, including breast cancer and ovarian cancer. The Company’s second drug candidate, Liposomal Bcl2 (“BP1002”), targets the protein Bcl2, which is responsible for driving cell proliferation in up to 60% of all cancers. BP1002 is in preparation for an Investigational New Drug application. Bio-Path Subsidiary was founded in May 2007 as a Utah corporation. In February 2008, Bio-Path Subsidiary completed a reverse merger with Ogden Golf Co. Corporation, a public company traded over the counter that had no current operations. The name of Ogden Golf was changed to Bio-Path Holdings, Inc. and the directors and officers of Bio-Path, Inc. became the directors and officers of Bio-Path Holdings, Inc. The Company’s operations to date have been limited to organizing and staffing the Company, acquiring, developing and securing its technology and undertaking product development for a limited number of product candidates. In June 2015, the Company established an “at the market” (“ATM”) program through which it may offer and sell up to $ 25.0 In June 2016, the Company entered into the Securities Purchase Agreement with certain healthcare focused institutional investors pursuant to which the Company agreed to sell an aggregate of 5,882,352 2,941,176 10.0 250,000 9.3 0.3 On May 21, 2017, the Company entered into Warrant Exercise Agreements (the “Exercise Agreements”) with certain holders (the “Exercising Holders”) of the 2016 Warrants and warrants (the “2014 Warrants,” and together with the 2016 Warrants, the “Original Warrants”) to purchase up to 2,500,000 4,411,764 4,300,000 0.38 111,764 0.60 1.5 On June 13, 2017, the Company entered into amendments (the “Warrant Amendments”) with holders (the “Holders”) of the remaining 2016 Warrants, which amended the terms of their 2016 Warrants with respect to 1,279,412 The Exercise Agreements for the 2014 Warrants resulted in the holders receiving $ 1.0 0.4 0.4 0.2 As of September 30, 2017, the Company had $ 4.6 9.4 As the Company has not begun its planned principal operations of commercializing a product candidate, the Company’s activities are subject to significant risks and uncertainties, including the potential requirement to secure additional funding, the outcome of the Company’s clinical trials, and failing to operationalize the Company’s current drug candidates before another company develops similar products.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. In February 2016, the FASB issued ASU No. 2016-02, Leases In May 2017, the FASB issued ASU No. 2017-09, Compensation-Stock Compensation: Scope of Modification Accounting In July 2017, the FASB issued ASU No. 2017-11 , Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. Management has reviewed all other recently issued pronouncements and has determined they will have no material impact on the Company’s consolidated financial statements.

Prepaid Drug Product for Testin

Prepaid Drug Product for Testing	9 Months Ended
	Sep. 30, 2017
Prepaid Drug Product For Testing [Abstract]
Prepaid Drug Product for Testing	3. Prepaid Drug Product for Testing Advance payments, including nonrefundable amounts, for goods or services that will be used or rendered for future clinical development activities are deferred and capitalized. Such amounts will be recognized as an expense as the related goods are delivered or the related services are performed. The Company made payments to its contract drug manufacturing and raw material suppliers totaling $ 0.4 0.7

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	4. Other Current Assets As of September 30, 2017, Other Current Assets included prepaid expenses of $ 0.5 0.2 0.9

Accounts Payable

Accounts Payable	9 Months Ended
	Sep. 30, 2017
Accounts Payable Disclosure [Abstract]
Accounts Payable	5. Accounts Payable As of September 30, 2017, Current Liabilities included accounts payable of $ 0.1 0.1

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2017
Accrued Liabilities [Abstract]
Accrued Expenses	6. Accrued Expenses As of September 30, 2017, Current Liabilities included accrued expenses of $ 0.6 0.3 0.2 0.1 1.0 0.4 0.2 0.2 0.1 0.1

Warrant Liability

Warrant Liability	9 Months Ended
	Sep. 30, 2017
Derivative Liability [Abstract]
Warrant Liability	7. Warrant Liability In connection with the 2016 Registered Direct Offering, the Company issued warrants to purchase up to 2,941,176 2.30 250,000 2.46 Due to this provision and in accordance with ASC 480-10 (Distinguishing Liabilities from Equity), the 2016 Warrants were classified as a liability and recorded at fair value as calculated using the Binomial Lattice Model. The estimated fair value of the Warrant Liability for the 2016 Warrants on the closing date, July 5, 2016, was $ 4.6 As of September 30, 2017, and December 31, 2016, the fair values of the Warrant Liability were none and $ 2.9 2.4 0.4 0.2

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements In accordance with ASC 820 (Fair Value Measurements and Disclosures), the Company uses various inputs to measure the 2016 Warrants on a recurring basis to determine the fair value of the liability. ASC 820 also establishes a hierarchy categorizing inputs into three levels used to measure and disclose fair value. The hierarchy gives the highest priority to quoted prices available in active markets and the lowest priority to unobservable inputs. An explanation of each level in the hierarchy is described below: Level 1 – Unadjusted quoted prices in active markets for identical instruments that are accessible by the Company on the measurement date Level 2 – Quoted prices in markets that are not active or inputs which are either directly or indirectly observable Level 3 – Unobservable inputs for the instrument requiring the development of assumptions by the Company The Company’s Warranty Liability was extinguished as of June 30, 2017 (See Note 1). The following table summarizes the Company’s 2016 Warrants measured at fair value within the hierarchy on a recurring basis as of December 31, 2016: Fair Value Measurements at Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ - $ 2,906 $ 2,906 The following table summarizes changes to the fair value of the Level 3 2016 Warrants for the nine months ended September 30, 2017: Fair Value of (in thousands) Balance at December 31, 2016 $ 2,906 Change in fair value (2,374 ) Extinguished (357 ) Reclassified to equity (175 ) Balance at September 30, 2017 $ - As of As of As of Risk-free interest rate 1.51 % 1.78 % 1.93 % Expected volatility 88 % 89 % 98 % Expected term in years 4.6 4.6 5.0 Dividend yield - % - % - % The following table summarizes the Company’s 2016 Warrants measured at fair value within the hierarchy on a recurring basis as of September 30, 2016: Fair Value Measurements at Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ - $ 3,199 $ 3,199 The following table summarizes changes to the fair value of the Level 3 2016 Warrants for the nine months ended September 30, 2016: Fair Value of (in thousands) Balance at December 31, 2015 $ - Issuance 4,619 Change in fair value (1,420 ) Balance at September 30, 2016 $ 3,199 As of Risk-free interest rate 1.14 % Expected volatility 104 % Expected term in years 5.3 Dividend yield - %

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Stockholders’ Equity totaled $ 6.5 8.2 100,056,988

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation The Plan - In 2007, the Company adopted the First Amended 2007 Stock Incentive Plan, as amended (the “Plan”). The Plan provides for the grant of Incentive Stock Options, Nonqualified Stock Options, Restricted Stock Awards, Restricted Stock Unit Awards, Performance Awards and other stock-based awards, or any combination of the foregoing to the Company’s key employees, non-employee directors and consultants. Under the Plan, the exercise price is determined by the Board of Directors or the compensation committee of the Board of Directors, and for options intended to qualify as qualified incentive stock options, may not be less than the fair market value as determined by the closing stock price at the date of the grant. Each option and award shall vest and expire as determined by the Board of Directors or the compensation committee. Options expire no later than ten years from the date of grant. All grants provide for accelerated vesting if there is a change of control, as defined in the Plan. Stock-based compensation expense was $0.2 million for both the three months ended September 30, 2017 and September 30, 2016. Of these amounts, stock-based compensation expense for personnel involved in the Company’s general and administrative activities for both the three months ended September 30, 2017 and September 30, 2016 was $0.1 million. Stock-based compensation expense for personnel involved in the Company’s research and development activities for the three months ended September 30, 2017 and September 30, 2016 was $49,000 and $0.1 million, respectively. Stock-based compensation expense was $0.7 million and $0.6 million for the nine months ended September 30, 2017 and September 30, 2016, respectively. Of these amounts, stock-based compensation expense for personnel involved in the Company’s general and administrative activities for the nine months ended September 30, 2017 and September 30, 2016 was $0.4 million and $0.3 million, respectively. Stock-based compensation expense for personnel involved in the Company’s research and development activities for the nine months ended September 30, 2017 and September 30, 2016 was $0.3 million and $0.2 million, respectively. The Company utilized the Black-Scholes valuation model for estimating the fair value of the stock options granted, with the following weighted-average assumptions for options granted in the nine months ended September 30, 2017 and 2016: 2017 2016 Risk-free interest rate 2.06 % 1.37 % Expected volatility 99 % 109 % Expected term in years 6.1 6.1 Dividend yield - % - % The following summary represents option activity under the Company’s stock-based compensation plan for the nine months ended September 30, 2017: Weighted- Average Exercise Options Price (in thousands) Outstanding at December 31, 2016 7,067 $ 1.33 Granted 682 0.75 Forfeited (828 ) 1.68 Outstanding at September 30, 2017 6,921 1.23 Exercisable at September 30, 2017 6,022 $ 1.14 As of September 30, 2017, the aggregate intrinsic value of outstanding stock options was $6,000. The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on September 30, 2017 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on September 30, 2017. This amount changes based on the fair market value of the Company’s stock. As of September 30, 2017, unamortized stock-based compensation expense for all outstanding options was $1.0 million, which is expected to be recognized over a weighted average vesting period of 2.5 years.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Technology License 0.1 Operating Lease 0.2 In April 2016, the Company entered into a three-year lease agreement for lab space located in Bellaire, Texas. The term of lease began on May 1, 2016 and terminates on April 30, 2019 and will require Bio-Path to pay $ 2,500 48,000 Drug Supplier Project Plan 0.7 2.2 1.4 0.6 0.2

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Event	12. Subsequent Event On November 3, 2017, the Company entered into a securities purchase agreement with certain investors pursuant to which the Company agreed to sell an aggregate of 13,333,332 shares of the Company’s common stock and warrants to purchase up to 6,666,666 shares of our common stock for gross proceeds of approximately $4.0 million under the Company’s shelf registration statement on Form S-3 (File No. 333-215205), which became effective on January 9, 2017 (the “2017 Registered Direct Offering”). The Company also issued warrants to purchase up to 160,000 shares of common stock in a private placement to Roth Capital Partners, LLC as compensation for its services as a placement agent in connection with the 2017 Registered Director Offering. The 2017 Registered Direct Offering closed on November 6, 2017. The net proceeds to the Company from the 2017 Registered Direct Offering, after deducting the placement agent’s fees and expenses and the Company’s offering expenses, and excluding the proceeds, if any, from the exercise of the warrants issued in the offering, were approximately $3.6 million.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the Company’s 2016 Warrants measured at fair value within the hierarchy on a recurring basis as of December 31, 2016: Fair Value Measurements at Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ - $ 2,906 $ 2,906 The following table summarizes the Company’s 2016 Warrants measured at fair value within the hierarchy on a recurring basis as of September 30, 2016: Fair Value Measurements at Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ - $ 3,199 $ 3,199
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation	The following table summarizes changes to the fair value of the Level 3 2016 Warrants for the nine months ended September 30, 2017: Fair Value of (in thousands) Balance at December 31, 2016 $ 2,906 Change in fair value (2,374) Extinguished (357) Reclassified to equity (175) Balance at September 30, 2017 $ - The following table summarizes changes to the fair value of the Level 3 2016 Warrants for the nine months ended September 30, 2016: Fair Value of (in thousands) Balance at December 31, 2015 $ - Issuance 4,619 Change in fair value (1,420) Balance at September 30, 2016 $ 3,199
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques	The Company utilized the Binomial Lattice Model for estimating the fair value of the 2016 Warrants using the following assumptions on the reclassification dates of June 13, 2017 and May 21, 2017 and as of December 31, 2016: As of As of As of Risk-free interest rate 1.51 % 1.78 % 1.93 % Expected volatility 88 % 89 % 98 % Expected term in years 4.6 4.6 5.0 Dividend yield - % - % - % The Company utilized the Binomial Lattice Model for estimating the fair value of the 2016 Warrants using the following assumptions as of September 30, 2016: As of Risk-free interest rate 1.14 % Expected volatility 104 % Expected term in years 5.3 Dividend yield - %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The Company utilized the Black-Scholes valuation model for estimating the fair value of the stock options granted, with the following weighted-average assumptions for options granted in the nine months ended September 30, 2017 and 2016: 2017 2016 Risk-free interest rate 2.06 % 1.37 % Expected volatility 99 % 109 % Expected term in years 6.1 6.1 Dividend yield - % - %
Schedule of Share-based Compensation, Stock Options, Activity	The following summary represents option activity under the Company’s stock-based compensation plan for the nine months ended September 30, 2017: Weighted- Average Exercise Options Price (in thousands) Outstanding at December 31, 2016 7,067 $ 1.33 Granted 682 0.75 Forfeited (828) 1.68 Outstanding at September 30, 2017 6,921 1.23 Exercisable at September 30, 2017 6,022 $ 1.14

Organization and Business - Add

Organization and Business - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended		9 Months Ended
	May 21, 2017	Jun. 30, 2016	Jun. 30, 2015	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 13, 2017	Dec. 31, 2016	Dec. 31, 2015
Organization and Nature of Operations [Line Items]
Cash				$ 4,623	$ 11,299	$ 4,623	$ 11,299		$ 9,375	$ 8,854
Stock issued during period, shares, new issues		5,882,352
Proceeds from issuance initial public offering		$ 9,300
Proceeds from Warrant Exercises						1,518	0
Class of Warrant or Right, Exercisable, Number	4,411,764
Class of Warrant or Right, Exercised, Number	111,764
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings						(357)
Gain (Loss) on Extinguishment of Debt				$ 0	$ 0	(440)	$ 0
Reclassified to equity						(175)
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings						$ 1,000
Reduced Exercise Price [Member]
Organization and Nature of Operations [Line Items]
Class of Warrant or Right, Exercised, Number	4,300,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.38
New Warrants [Member]
Organization and Nature of Operations [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.60
Class of Warrant or Right, Terms	5 years
Warrants 2016 [Member]
Organization and Nature of Operations [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights								1,279,412
Warrant
Organization and Nature of Operations [Line Items]
Stock issued during period, shares, new issues		2,941,176
Stock issued during period, value, new issues		$ 10,000	$ 25,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	2,500,000
2016 Registered Direct Offering
Organization and Nature of Operations [Line Items]
Debt Issuance Costs, Net		$ 300
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		250,000

Prepaid Drug Product for Test21

Prepaid Drug Product for Testing - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Line Items]
Prepaid drug product for testing	$ 0.7	$ 0.4

Other Current Assets- Additiona

Other Current Assets- Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other Assets Current	$ 511	$ 902
Prepaid Insurance	100
Acute Myeloid Leukemia
Other Assets Current	200
Prepaid Expenses
Other Assets Current	500	$ 900
Other Prepaid Expenses
Other Assets Current	$ 200

Accounts Payable - Additional I

Accounts Payable - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Accounts Payable [Line Items]
Accounts payable	$ 0.1	$ 0.1

Accrued Expenses - Additional I

Accrued Expenses - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts Payable and Accrued Liabilities [Line Items]
Accrued expenses	$ 634	$ 969
Accrued Vacation And Bonus	300	400
Accrued Laboratory Expense		200
Accrued Clinical And Preclinical	200	200
Accrued License Maintenance Fee		100
Other Accrued Liabilities	$ 100	$ 100

Warrant Liability - Additional

Warrant Liability - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Jul. 05, 2016
Warrant Liability [Line Items]
Derivative Liability, Fair Value, Gross Liability					$ 2,900	$ 4,600
Increase (Decrease) in Derivative Liabilities			$ 2,400
Gain (Loss) on Extinguishment of Debt	$ 0	$ 0	(440)	$ 0
Reclassified to equity			$ (175)
Health care Institutional Investors
Warrant Liability [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	2,941,176		2,941,176
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.30		$ 2.30
Hc Wainwright Co Llc
Warrant Liability [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	250,000		250,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.46		$ 2.46

Fair Value, Assets and Liabilit

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Noncurrent	$ 0	$ 2,906	$ 3,199
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Noncurrent		0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Noncurrent		0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Noncurrent		$ 2,906	$ 3,199

Fair Value Of Warrant Liability

Fair Value Of Warrant Liability (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance	$ 2,906	$ 0
Issuance		4,619
Change in fair value	(2,374)	(1,420)
Extinguished	(357)
Reclassified to equity	(175)
Balance	$ 0	$ 3,199

Fair Value Assumptions and Meth

Fair Value Assumptions and Methodology for Assets and Liabilities (Detail) - Warrant	Jun. 13, 2017	May 21, 2017	Sep. 30, 2016	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk-free interest rate	1.51%	1.78%	1.14%	1.93%
Expected volatility	88.00%	89.00%	104.00%	98.00%
Expected term in years	4 years 7 months 6 days	4 years 7 months 6 days	5 years 3 months 18 days	5 years
Dividend yield	0.00%	0.00%	0.00%	0.00%

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Shareholders Equity [Line Items]
Common Stock, shares issued	100,057	95,645
Common Stock, shares outstanding	100,057	95,645
Stockholders Equity	$ 6,549	$ 8,240

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock Based Compensation Plans [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 1,000,000		$ 1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			6,000
Stock-based compensation expense	200,000	$ 200,000	$ 700,000	$ 600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term			2 years 6 months
Research and Development Expense
Stock Based Compensation Plans [Line Items]
Stock-based compensation expense	49,000	100,000	$ 300,000	200,000
General and Administrative Expense
Stock Based Compensation Plans [Line Items]
Stock-based compensation expense	$ 100,000	$ 100,000	$ 400,000	$ 300,000

Weighted Average Assumptions (D

Weighted Average Assumptions (Detail)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share Based Compensation Plans [Line Items]
Risk-free interest rate	2.06%	1.37%
Expected volatility	99.00%	109.00%
Expected term in years	6 years 1 month 6 days	6 years 1 month 6 days
Dividend yield	0.00%	0.00%

Option Activity Under Plan (Det

Option Activity Under Plan (Detail) shares in Thousands	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share Based Compensation Plans [Line Items]
Outstanding | shares	7,067
Granted | shares	682
Forfeited | shares	(828)
Outstanding | shares	6,921
Exercisable | shares	6,022
Weighted - Average Exercise Price, Outstanding | $ / shares	$ 1.33
Weighted - Average Exercise Price, Granted | $ / shares	0.75
Weighted - Average Exercise Price, Forfeited | $ / shares	1.68
Weighted - Average Exercise Price, Outstanding | $ / shares	1.23
Weighted - Average Exercise Price, Exercisable | $ / shares	$ 1.14

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	1 Months Ended
	Apr. 30, 2016	Sep. 30, 2017	Dec. 31, 2016
Product Liability Contingency [Line Items]
Accounts payable and accrued liabilities			$ 100,000
Operating Leases, Future Minimum Payments Due		$ 48,000
Other Inventory, Gross		700,000	$ 400,000
Other Commitment, Due in Next Twelve Months		1,800,000
Drug Supplier Project Plan [Member]
Product Liability Contingency [Line Items]
Other Commitment		2,200,000
Manufacturer of Prexigebersen [Member]
Product Liability Contingency [Line Items]
Other Commitment		1,400,000
Manufacture of Drug Substance [Member]
Product Liability Contingency [Line Items]
Other Commitment		600,000
Manufacturing Development [Member]
Product Liability Contingency [Line Items]
Other Commitment		200,000
Office Space
Product Liability Contingency [Line Items]
Operating Leases, Future Minimum Payments Due		$ 200,000
Lab Space
Product Liability Contingency [Line Items]
Operating Lease Monthly Rental Payments	$ 2,500

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions	Nov. 03, 2017	Jun. 30, 2016	Jun. 30, 2015
Subsequent Event [Line Items]
Stock Issued During Period Shares New Issues		5,882,352
Proceeds from Issuance Initial Public Offering		$ 9.3
Warrant [Member]
Subsequent Event [Line Items]
Stock Issued During Period Shares New Issues		2,941,176
Stock Issued During Period, Value, New Issues		$ 10	$ 25
Subsequent Event [Member] | Registered Direct Offering 2017 [Member]
Subsequent Event [Line Items]
Stock Issued During Period Shares New Issues	13,333,332
Stock Issued During Period, Value, New Issues	$ 4
Proceeds from Issuance Initial Public Offering	$ 3.6
Subsequent Event [Member] | Registered Direct Offering 2017 [Member] | Warrant [Member]
Subsequent Event [Line Items]
Stock Issued During Period Shares New Issues	6,666,666
Subsequent Event [Member] | Registered Direct Offering 2017 [Member] | Roth Capital Partners, Llc [Member] | Warrant [Member]
Subsequent Event [Line Items]
Stock Issued During Period Shares New Issues	160,000