Dex Liquidating (CRDC) 10-Q 10 Nov 16 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document Information [Line Items]
Entity Registrant Name	DEXTERA SURGICAL INC
Entity Central Index Key	1,178,104
Trading Symbol	dxtr
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		8,927,830
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands		Sep. 30, 2016	Jun. 30, 2016
Current assets:
Cash and cash equivalents		$ 3,295	$ 3,626
Short-term investments		5,677	9,090
Accounts receivable, net		449	313
Inventories		1,293	1,063
Prepaid expenses and other current assets		199	318
Total current assets		10,913	14,410
Property and equipment, net		1,044	1,178
Restricted cash		104	104
Total assets		12,061	15,692
Current liabilities:
Accounts payable		760	766
Accrued compensation		711	739
Other accrued liabilities		531	517
Current portion of deferred revenue		601	569
Total current liabilities		2,603	2,591
Deferred revenue, net of current portion		2,441	2,499
Note payable, net of discount		3,207	3,124
Other non-current liabilities		184	196
Total liabilities		8,435	8,410
Commitments and contingencies (Note 9)
Stockholders' equity: (1)
Preferred stock, $0.001 par value: 5,000,000 shares authorized; 191,474 shares issued and outstanding at September 30, 2016, and June 30, 2016	[1]	17,214	17,214
Common stock, $0.001 par value: 125,000,000 shares authorized; 8,934,452 shares issued and 8,927,830 shares outstanding at September 30, 2016, and June 30, 2016	[1]	9	9
Additional paid-in capital		196,654	196,355
Treasury stock at cost (6,622 shares at September 30, 2016, and June 30, 2016)		(596)	(596)
Accumulated comprehensive loss		(4)	(4)
Accumulated deficit		(209,651)	(205,696)
Total stockholders' equity		3,626	7,282
Total liabilities and stockholders' equity		$ 12,061	$ 15,692
[1]	All per share amounts and shares of Dextera Surgical common stock issued and outstanding for all periods have been retroactively adjusted to reflect Dextera Surgicals one-for-ten reverse stock split of its common stock, which was effective February 17, 2016.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2016	Jun. 30, 2016
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	191,474	191,474
Preferred stock, shares outstanding (in shares)	191,474	191,474
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	8,934,452	8,927,830
Common stock, shares outstanding (in shares)	8,934,452	8,927,830
Treasury stock, shares (in shares)	6,622	6,622

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Net revenue:
Product sales, net		$ 427,000	$ 737,000
License and development revenue		26,000
Royalty revenue		14,000	18,000
Total net revenue		467,000	755,000
Operating costs and expenses:
Cost of product sales		515,000	1,023,000
Research and development		1,768,000	1,616,000
Selling, general and administrative		2,019,000	2,657,000
Total operating costs and expenses		4,302,000	5,296,000
Loss from operations		(3,835,000)	(4,541,000)
Interest income		14,000	13,000
Interest expense		(133,000)	(120,000)
Other income (expense), net		(1,000)	6,000
Net loss		$ (3,955,000)	$ (4,642,000)
Basic and diluted net loss per share (in dollars per share)	[1]	$ (0.44)	$ (0.52)
Shares used in computing basic and diluted net loss per
Share (in shares)	[1]	8,928	8,896
[1]	All per share amounts and shares of Dextera Surgical common stock issued and outstanding for all periods have been retroactively adjusted to reflect Dextera Surgicals one-for-ten reverse stock split of its common stock, which was effective February 17, 2016.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Net loss	$ (3,955,000)	$ (4,642,000)
Changes in market value of investments:
Change in unrealized gain on short-term investments, net of tax		3,000
Comprehensive loss	$ (3,955,000)	$ (4,639,000)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities:
Net loss	$ (3,955,000)	$ (4,642,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	160,000	301,000
Amortization of premiums on marketable securities	9,000	50,000
Stock-based compensation expense	299,000	135,000
Non-cash interest expense	83,000	70,000
Changes in operating assets and liabilities:
Accounts receivable, net	(136,000)	(74,000)
Prepaid expenses and other current assets	119,000	67,000
Inventories	(230,000)	219,000
Accounts payable and other accrued liabilities	(4,000)	333,000
Deferred revenue	(26,000)
Accrued compensation	(28,000)	452,000
Net cash used in operating activities	(3,709,000)	(3,089,000)
Investing activities:
Purchases of property and equipment	(26,000)	(124,000)
Proceeds from maturities of investments	4,000,000	7,608,000
Purchases of investments	(596,000)	(3,607,000)
Net cash provided by investing activities	3,378,000	3,877,000
Net increase (decrease) in cash and cash equivalents	(331,000)	788,000
Cash and cash equivalents at beginning of period	3,626,000	8,264,000
Cash and cash equivalents at end of period	3,295,000	9,052,000
Supplemental disclosure of cash flow information:
Interest paid	$ 50,000	$ 50,000

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization Dextera Surgical Inc. (the “Company”) was incorporated in the state of Delaware on October 15, 1997, as Vascular Innovations, Inc. On November 26, 2001, the Company changed its name to Cardica, Inc., and on June 19, 2016, changed its name to Dextera Surgical Inc. The Company is commercializing and developing the MicroCutter 5/80™ stapler based on its proprietary “staple-on-a-strip” technology intended for use by thoracic, pediatric, bariatric, colorectal and general surgeons. The Company rebranded the latest version of its MicroCutter XCHANGE® 30 combo device as Dextera MicroCutter 5/80 stapler, which is currently commercially available, is a cartridge-based microcutter device with a 5 millimeter shaft diameter, 80 degrees of articulation, and a 30 millimeter staple line cleared for specified indications for use in the United States and in the European Union, or EU, for a broader range of specified indications of use. The Company previously had additional products in development, including the MicroCutter XCHANGE® 45, a cartridge-based microcutter device with an 8 millimeter shaft and a 45 millimeter staple line, and the MicroCutter FLEXCHANGE™ 30, a cartridge-based microcutter device with a flexible shaft to facilitate endoscopic procedures requiring cutting and stapling; however, the Company suspended development of these additional potential products to focus solely on development of the first MicroCutter XCHANGE 30, and now the MicroCutter 5/80. In March 2012, the Company completed the design verification for and applied Conformité Européenne, or the CE Mark, to the MicroCutter XCHANGE 30 (where the Company uses the term “MicroCutter XCHANGE 30” herein, the Company refers to earlier versions of the MicroCutter XCHANGE 30, not the latest version that the Company rebranded as the MicroCutter 5/80) and, in December 2012, began a controlled commercial launch of the MicroCutter XCHANGE 30 in Europe. The Company received from the United States Food and Drug Administration, or FDA, 510(k) clearances for the MicroCutter XCHANGE 30 and blue reload in January 2014, and for the white reload in February 2014, for use in multiple open or minimally-invasive surgical procedures for the transection, resection and/or creation of anastomoses in small and large intestine, as well as the transection of the appendix. The blue reload is a cartridge inserted in the MicroCutter XCHANGE 30 to deploy staples for use in medium thickness tissue, and the white reload is a cartridge inserted in the MicroCutter XCHANGE 30 to deploy staples for use in thin tissue. In March 2014, the Company made its first sale of the MicroCutter XCHANGE 30 in the United States, and subsequently temporarily suspended its controlled commercial launch in November 2014, as the Company shifted its focus to improved performance based on surgeons’ feedback. In April 2015, the Company resumed its controlled commercial launch primarily in Europe, of the MicroCutter XCHANGE 30 for thinner tissue usually requiring deployment of white reloads. In November 2015, the Company issued a voluntary withdrawal of the MicroCutter XCHANGE 30 blue cartridges from the market, and continued to sell the MicroCutter XCHANGE 30 device solely for use with the white cartridge. While the Company continues this controlled commercial launch, the Company’s goal was to complete product improvements on the MicroCutter 5/80 which accommodates thicker tissue by enabling deployment of both white and blue reloads. The Company has since ceased the production of the MicroCutter XCHANGE 30, and is focusing on producing and selling the MicroCutter 5/80. To further expand the use of the MicroCutter 5/80, the Company submitted 510(k) Premarket Notifications to the FDA to expand the indications for use to include vascular structures, and in January 2016, received FDA 510(k) clearance to use the MicroCutter 5/80 with a white reload and in July 2016, received FDA 510(k) clearance to use the MicroCutter 5/80 with a blue reload, both for the transection and resection in open or minimally invasive urologic, thoracic, and pediatric surgical procedures. These clearances complement the existing indications for use of the MicroCutter 5/80 in surgical procedures in the small and large intestine and in the appendix. Following the 510(k) clearances, the Company conducted its evaluation of the MicroCutter 5/80, that deploys both blue and white cartridges, with selected centers of key opinion leaders in the U.S. and Europe through initial market preference testing to validate clinical benefits prior to broadening its commercial launch. The Company recently completed its market preference testing of the MicroCutter 5/80 with approximately 55 procedures and 200 staple cartridge deployments with reliable, consistent performance and excellent hemostasis (stopping of the blood flow). Following its successful evaluation of the MicroCutter 5/80, the Company plans to expand its commercial launch to a select group of customers in the U.S. and Europe. The Company is currently conducting the MicroCutter-Assisted Thoracic Surgery Hemostasis (“MATCH”) registry, a post-market surveillance registry, to evaluate the hemostasis and ease-of-use for the MicroCutter 5/80. This is a prospective, open-label, multi-center registry and the Company plans to enroll up to 120 patients requiring surgical stapling during a lobectomy (surgical removal of a lobe of an organ) or segmentectomy (surgical removal of a segment of a lung lobe) at leading centers in the U.S. and Europe. The Company is also attempting to expand use of the MicroCutter 5/80 in the international market with selected regulatory filings. The Company submitted the application to Health Canada for regulatory approval of the MicroCutter XCHANGE 30 and the white cartridge reload and, in March 2016, received a medical device license to market in Canada. Although the Company is licensed to market the MicroCutter XCHANGE 30 with white reloads in Canada, the Company intends to wait until the Company files an amendment for the MicroCutter 5/80 with Health Canada for regulatory approval before it can market the MicroCutter 5/80 in Canada. In addition, in August 2013, the Company’s exclusive distributor in Japan, Century Medical, Inc., or Century, filed for regulatory approval of the MicroCutter XCHANGE 30 white and blue cartridge reloads with the Pharmaceuticals and Medical Devices Agency, or PMDA, in Japan and in April 2014, filed for approval for the MicroCutter XCHANGE 30 with TUV Rheinland Japan Ltd, a registered third-party agency in Japan, and received approvals in late 2014 for both reloads and stapler, to market in Japan. Also, in January 2015, Century submitted an application to PMDA relating to a change in the material of the reload insert component within the reloads, changing the distal tip of the reload insert material from a Vectra Liquid Crystal Polymer, or LCP, to IXEF Polyarylamide, or IXEF, and received approval in August 2015 to market in Japan. Though approvals of the MicroCutter XCHANGE 30 and reloads for marketing in Japan have been obtained, Century intends to wait until the Company releases the MicroCutter 5/80 to Century and Century will need to file additional regulatory approvals with the Ministry of Health to market the MicroCutter 5/80 in Japan. Historically, the Company generated product revenues primarily from the sale of automated anastomotic systems; however, the Company started generating revenues from the commercial sales of the microcutter products since its introduction in Europe in December 2012, and in the United States in March 2014, and through September 30, 2016, the Company generated $1.8 million of net product revenues from the commercial sales of the microcutter products. For the three months ended September 30, 2016, the Company generated net revenue of $0.5 million, including $0.4 million from the sale of automated anastomotic systems, $56,000 from commercial sales of the microcutter products, $26,000 from license and development revenue and $14,000 of royalty revenue. Need for Additional Capital Going Concern The Company has incurred cumulative net losses of $209.7 million through September 30, 2016, and negative cash flows from operating activities and expects to incur losses for the next several years. As of September 30, 2016, the Company had approximately $9.0 million of cash, cash equivalents and short-term investments, and $4.0 million of debt principal outstanding. The Company believes that the existing cash, cash equivalents and short-term investments will be sufficient to meet its anticipated cash needs to enable it to conduct its business substantially as currently conducted for at least the next six months, subject to the ultimate resolution of the following uncertainty. The Company does not agree with Century’s assertions as the Company believes that it had notified Century of the financing that occurred in April 2014 and the extension of the due date of the note agreement effectively waived the prepayment provisions of the loan. The Company is currently in discussions with Century to resolve this matter. The Company does not believe it is probable that Century would prevail in a legal resolution of this matter. Accordingly, the Company has not changed the classification of the note as a noncurrent liability as of September 30, 2016. Penalty interest has not been reflected in the financial statements as its payment is not considered probable. Additionally, the Company has not accelerated amortization of the remaining note discount ($0.8 million at September 30, 2016). If the Company is required to repay the $4.0 million loan from Century along with the related penalty interest prior to September 30, 2018, this will reduce the period during which the existing cash, cash equivalents and short-term investments will be sufficient to meet the Company’s anticipated cash needs to less than three months from September 30, 2016, which would severely impair the Company’s ability to continue its business unless it is able to raise other funds to repay this debt. The Company may be able to extend these time periods to the extent that it decreases its planned expenditures, or raises additional capital. The Company would need to further reduce expenses in advance of the date on which it would exhaust its cash, cash equivalents and short-term investments in the event that it is unable to complete a financing, strategic or commercial transaction in the near term to ensure that it has sufficient capital to meet its obligations and continue on a path designed to create and preserve stockholders’ value. In order to satisfy its longer term liquidity requirements, the Company may seek to sell additional equity or debt securities, obtain a credit facility, enter into product development, license or distribution agreements with third parties or divest one or more of its commercialized products or products in development. The sale of additional equity or convertible debt securities could result in significant dilution to its stockholders, particularly in light of the prices at which its common stock has been recently trading. In addition, if the Company raises additional funds through the sale of equity securities, new investors could have rights superior to its existing stockholders. If additional funds are raised through the issuance of debt securities, these securities could have rights senior to those associated with its common stock and could contain covenants that would restrict its operations. Any product development, licensing, distribution or sale agreements that the Company enters into may require it to relinquish valuable rights, including with respect to commercialized products or products in development that the Company would otherwise seek to commercialize or develop itself. The Company may not be able to obtain sufficient additional financing or enter into a strategic transaction in a timely manner. Its need to raise capital may require it to accept terms that may harm its business or be disadvantageous to its current stockholders. The Company’s condensed consolidated financial statements have been prepared assuming that it will continue as a going concern. This assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Its continuation as a going concern is contingent upon its ability to generate revenue and cash flow to meet its obligations on a timely basis and its ability to raise financing. The Company’s plans may be adversely impacted if it fails to realize its assumed levels of revenues and expenses or savings from its cost reduction activities. However, there can be no assurance that the Company will be able to generate cash flows and raise such funds if and when they are required. Failure to obtain future funding when needed or on acceptable terms would adversely affect its ability to fund operations and continue as a going concern. These matters raise substantial doubt about the ability of the Company to continue in existence as a going concern. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements which include the accounts of Dextera Surgical Inc. and its wholly-owned subsidiary in Germany. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for the fair statement of balances and results have been included. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year or any other interim period. The accompanying condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the fiscal year ended June 30, 2016, included in the Company’s Form 10-K filed with the Securities and Exchange Commission on October 12, 2016. Reverse Stock Split On February 16, 2016, the Company filed an amendment to its Amended and Restated Articles of Incorporation to effect a one-for-ten reverse split of its outstanding common stock (the “Reverse Split”) which had the effect of reducing the number of outstanding shares of common stock from 89,344,777 to 8,934,452, effective February 17, 2016. Any fractional shares of common stock resulting from the Reverse Split were settled in cash equal to the fraction of a share to which the holder was entitled. As a result of the Reverse Split, the Company reclassified its consolidated balance sheets total par value of approximately $80,000 from common stock to additional paid-in capital for the reporting periods. All shares of common stock, stock options, warrants to purchase common stock, the conversion rate of preferred stock and per share information presented in the condensed consolidated financial statements have been adjusted to reflect the Reverse Split on a retroactive basis for all periods presented and all share information is rounded down to the nearest whole share after reflecting the Reverse Split. Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which amends the current guidance by replacing the incurred loss model with a forward-looking expected loss model. The standard is effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company will be evaluating the impact of the adoption of this guidance on its consolidated financial statements and related disclosures. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients," amending guidance in the new revenue standard on transition, collectability, noncash consideration and the presentation of sales taxes and other similar taxes. The amendments clarify that for a contract to be considered completed at transition, substantially all of the revenue must have been recognized under the existing GAAP. The amendments also clarified the collectability assessment and expanded circumstances under which nonrefundable consideration may receive revenue recognition when collectability of the remainder is not probable. It clarified that the fair value of noncash consideration should be measured at contract inception for determining the transaction price. The amendments permit an entity to make a policy election to exclude from the transaction price sales taxes and similar taxes. The effective date and transition requirements for these amendments are the same as those of the new revenue standard (ASU 2014-09, as amended by ASU 2015-14). The Company will be evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements and related disclosures. In April 2016, the FASB issued ASU 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing," adding clarification, while retaining the core principles in the revenue guidance. For identifying performance obligations, the ASU clarifies when a promised good or service is separately identifiable (i.e., distinct within the context of the contract) and allow entities to disregard items that are immaterial in the context of a contract. For licensing, the ASU clarifies how an entity should evaluate the nature of its promise in granting a license of IP, which will determine whether it recognizes revenue over time (“symbolic IP”) or at a point in time (“functional IP”).The effective date and transition requirements for these amendments are the same as those of the new revenue standard (ASU 2014-09, as amended by ASU 2015-14). The Company will be evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting, In March 2016, the FASB issued an accounting standard update ASU 2016-08, which clarifies the implementation guidance on principal versus agent considerations under the new revenue recognition standard, ASU 2014-09 (Topic 606), Revenue from Contracts with Customers. It requires the entity to determine whether the nature of its promise is to provide that good or service to the customer (that is, the entity is a principal) or to arrange for the good or service to be provided to the customer by the other party (that is, the entity is an agent). This determination is based upon whether the entity controls the good or service before it is transferred to the customer. The amendment will be effective for annual reporting periods beginning after December 15, 2017, which will be the Company’s fiscal year 2019 (beginning July 1, 2018). The Company will be evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases, In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In July 2015, the FASB issued an accounting standard update which requires an entity measuring inventory other than last-in, first-out (LIFO) or the retail inventory method to measure inventory at the lower of cost and net realizable value. When evidence exists that the net realizable value of inventory is lower than its costs, the difference will be recognized as a loss in the statement of operations. The standard is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The Company will be evaluating the impact of the adoption of this standard on the Company’s consolidated financial statements and disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers Revenue Recognition Use of Estimates The preparation of financial statements in conformity with GAAP generally requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Significant estimates include the valuation of inventory, measurement of stock based compensation, valuation of financial instruments and revenue recognition. Actual results could materially differ from these estimates. Revenue Recognition The Company recognizes revenue when four basic criteria are met: (1) persuasive evidence of an arrangement exists; (2) title has transferred; (3) the fee is fixed or determinable; and (4) collectability is reasonably assured. The Company uses contracts and customer purchase orders to determine the existence of an arrangement. The Company uses shipping documents and third-party proof of delivery to verify that title has transferred. The Company assesses whether the fee is fixed or determinable based upon the terms of the agreement associated with the transaction. To determine whether collection is probable, the Company assesses a number of factors, including past transaction history with the customer and the creditworthiness of the customer. If the Company determines that collection is not reasonably assured, then the recognition of revenue is deferred until collection becomes reasonably assured, which is generally upon receipt of payment. The Company records product sales net of estimated product returns and discounts from the list prices for its products. The amounts of product returns and the discount amounts have not been material to date. The Company’s sales to distributors do not include price protection. Payments that are contingent upon the achievement of a substantive milestone are recognized in their entirety in the period in which the milestone is achieved subject to satisfaction of all revenue recognition criteria at that time. Revenue generated from license fees and performing development services are recognized when they are earned and non-refundable upon receipt, over the period of performance, or upon incurrence of the related development expenses in accordance with contractual terms, based on the actual costs incurred to date plus overhead costs for certain project activities. Amounts paid but not yet earned on a project are recorded as deferred revenue until such time as performance is rendered or the related development expenses, plus overhead costs for certain project activities, are incurred. Inventories Inventories are recorded at the lower of cost or market on a first-in, first-out basis. The Company periodically assesses the recoverability of all inventories, including materials, work-in-process and finished goods, to determine whether adjustments for impairment are required. Inventory that is obsolete or in excess of forecasted usage is written down to its estimated net realizable value based on assumptions about future demand and market conditions. Further reduced demand may result in the need for additional inventory write-downs in the near term. Inventory write-downs are charged to cost of product sales and establish a lower cost basis for the inventory. Risks and Uncertainties The Company depends upon a number of key suppliers, including single source suppliers, the loss of which would materially harm the Company’s business. Single source suppliers are relied upon for certain components and services used in manufacturing the Company’s products. The Company does not have long-term contracts with any of the suppliers; rather, purchase orders are submitted for each order. Because long-term contracts do not exist, none of the suppliers are required to provide the Company any guaranteed minimum quantities. Foreign Currency Translation The Company’s foreign operations are subject to exchange rate fluctuations and foreign currency costs. The functional currency of the German subsidiary is the United States dollar. Transactions and balances denominated in dollars are presented at their original amounts. Monetary assets and liabilities denominated in currencies other than the dollar are re-measured at the current exchange rate prevailing at the balance sheet date. All transaction gains or losses from the re-measurement of monetary assets and liabilities are included in the consolidated statements of operations within other income (expense).

Note 2 - Stockholders' Equity

Note 2 - Stockholders' Equity	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 2 - STOCKHOLDERS' EQUITY Common Stock and Preferred Stock In April 2014, the Company sold 3,737,500 shares of its common stock at $8.50 per share, and 191,474 shares of Series A Convertible Preferred Stock at $85 per share. The Series A convertible preferred stock is non-voting and is convertible into shares of common stock at a conversion rate of 10 shares of common stock for each share of Series A convertible preferred stock, provided that conversion will be prohibited if, as a result, the holder and their affiliates would own more than 9.98% of the total number of shares of the Company’s common stock then outstanding unless the holder gives the Company at least 61 days prior notice of an intent to convert into shares of common stock that would cause the holder to own more than 9.98% of the total number of shares of common stock then issued and outstanding. Net proceeds from the financing to the Company were approximately $44.6 million. For fiscal year ended June 30, 2014, the Company recorded a deemed dividend of $1.9 million related to beneficial conversion feature of series A convertible preferred stock. A one-time beneficial conversion charge was due to the difference between the common stock price and conversion price on the closing date of the Company’s public offering in April 2014. Stock-Based Compensation Stock-based compensation expense related to employee and director share-based compensation plans, including stock options and restricted stock units, or RSUs, pursuant to Accounting Standards Codification, or ASC, 718 “Compensation — Stock Compensation”. Stock-based compensation cost is measured on the grant date, based on the fair value-based measurement of the award and is recognized as an expense over the requisite service period which generally equals the vesting period of each grant. The Company recognizes compensation expense using the accelerated method and accounts for the non-employee share-based grants pursuant to ASC 505-50, Equity Based Payments to Non-Employees. The Company selected the Black-Scholes option pricing model for determining the estimated fair value-based measurements of share-based awards. The use of the Black-Scholes model requires the use of assumptions including expected term, expected volatility, risk-free interest rate and expected dividends. The Company used the following assumptions in its fair value-based measurements: Three months ended September 30 , 201 6 201 5 Risk-free interest rate 1.11% 0.71% - 1.50% Dividend yield — — Weighted-average expected term (in years) 4.81 4.24 - 4.31 Expected volatility 74.9% 64.8% - 65.8% The Company estimates the expected life of options granted based on historical exercise and post-vest cancellation patterns, which the Company believes are representative of future behavior . The risk-free interest rate for the expected term of each option is based on a risk-free zero-coupon spot interest rate on the date of grant. The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. The expected volatility is based on the Company’s historical stock price. The Company estimates forfeitures in calculating the expense related to stock-based compensation. The Company recorded stock-based compensation expenses for awards granted to employees under ASC 718 of $0.3 million and $0.1 million for the three months ended September 30, 2016 and 2015, respectively. The Company recorded stock-based compensation expenses for awards granted to non-employees under ASC 505-50 of $0 and $3,407 for the three months ended September 30, 2016 and 2015, respectively. Total compensation expense related to unvested awards not yet recognized is approximately $0.8 million at September 30, 2016, and is expected to be recognized over a weighted average period of 3.6 years. Included in the statement of operations are the following non-cash stock-based compensation expenses (in thousands): Three months ended September 30 , 201 6 201 5 Cost of product sales $ 23 $ 18 Research and development 68 41 Selling, general and administrative 208 76 Total $ 299 $ 135

Note 3 - Net Loss Per Share

Note 3 - Net Loss Per Share	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 3 - NET LOSS PER SHARE Basic net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding for the period, and without consideration of potential common shares. Diluted net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding for the period, plus dilutive potential common shares for the period determined using the treasury-stock method. For purposes of this calculation, options and warrants to purchase stock and unvested restricted stock awards are considered to be potential common shares and are only included in the calculation of diluted net loss per share when their effect is dilutive. In the years the preferred stock is outstanding, the two-class method is used to calculate basic and diluted earnings (loss) per common share since it is a participating security under ASC 260 Earnings per Share The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share data): Three months ended September 30, 2016 2015 Numerator: Net loss $ (3,955 ) $ (4,642 ) Denominator: Denominator for basic and diluted net loss per share 8,928 8,896 Basic and diluted net loss per share $ (0.44 ) $ (0.52 ) The following table sets forth the outstanding securities not included in the diluted net loss per common share calculation as of September 30, 2016 and 2015, because their effect would be antidilutive (in thousands): As of September 30, 201 6 201 5 Options to purchase common stock 1,488 463 Unvested restricted stock awards 27 53 Shares reserved for issuance upon conversion of Series A Preferred 1,915 1,915 Total 3,430 2,431

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 4 - FAIR VALUE MEASUREMENTS ASC 820, “Fair Value Measurements,” Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company does not have any liabilities that are measured at fair value on a recurring basis. All assets that are measured at fair value on a recurring basis have been segregated into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. These assets measured at fair value are summarized below (in thousands): As of September 30, 2016 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 2,061 $ — $ — $ 2,061 Corporate debt securities — 500 — 500 Short-term investments: Corporate debt securities — 5,677 — 5,677 Total assets at fair value $ 2,061 $ 6,177 $ — $ 8,238 As of June 30, 201 6 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 3,029 $ — $ — $ 3,029 Short-term investments: Commercial paper — 999 — 999 Corporate debt securities — 8,091 — 8,091 Total assets at fair value $ 3,029 $ 9,090 $ — $ 12,119 Funds held in money market instruments are included in Level 1 as their fair values are based on market prices/quotes for identical assets in active markets. Corporate debt securities and commercial papers are valued primarily using market prices comparable securities, bid/ask quotes, interest rate yields, and prepayment spreads and are included in Level 2. Cash balances of $0.7 million at September 30, 2016, and $0.6 million at June 30, 2016, were not included in the fair value hierarchy disclosure. As of September 30, 2016, the Company’s material financial assets and liabilities were reported at their current carrying values which approximate fair value given the short-term nature of less than a year, except for its note payable and deferred revenue relating to Intuitive Surgical amended license agreement. As of September 30, 2016, the Company’s note payable and deferred revenue were reported at its current carrying value which approximates fair value based on Level 3 unobservable inputs involving discounted cash flows and the estimated market rate of borrowing that could be obtained by companies with credit risk similar to the Company’s credit risk ( See “Note 8 - Note Payable See “Note 7 – Distribution, L icense, D evelopment A nd C ommercialization A greements”

Note 5 - Available-for-Sale Sec

Note 5 - Available-for-Sale Securities	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 5 – Available–for-Sale Securities The Company held investments in marketable securities as of September 30, 2016, and June 30, 2016, with maturity dates of less than one year for short-term and greater than one year for long-term. The Company’s investments consisted of the following (in thousands): As of September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Corporate debt securities – Short-term $ 5,681 $ — $ (4 ) $ 5,677 Total $ 5,681 $ — $ (4 ) $ 5,677 As of June 30, 201 6 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Commercial paper – Short-term $ 999 $ — $ — $ 999 Corporate debt securities – Short-term 8,095 — (4 ) 8,091 Total $ 9,094 $ — $ (4 ) $ 9,090 The following table summarizes the gross unrealized losses and fair values of investments in an unrealized loss position as of September 30, 2016, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): September 30, 2016 Less than 12 months 12 months or greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate debt securities $ 5,677 $ (4 ) $ — $ — $ 5,677 $ (4 ) Total $ 5,677 $ (4 ) $ — $ — $ 5,677 $ (4 ) June 30, 2016 Less than 12 months 12 months or greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate debt securities $ 8,091 $ (4 ) $ — $ — $ 8,091 $ (4 ) Total $ 8,091 $ (4 ) $ — $ — $ 8,091 $ (4 ) The Company reviews investments for other-than-temporary impairment. It was determined that unrealized losses at September 30, 2016 and June 30, 2016, are temporary in nature, because the changes in market value for these securities resulted from the fluctuating interest rates, rather than a deterioration of the credit worthiness of the issuers. The Company is unlikely to experience losses if these securities are held to maturity. In the event that the Company disposes of these securities before maturity, it is expected that any losses will be immaterial. The following table summarizes contractual underlying maturities of the Company’s available-for-sale investments at September 30, 2016 (in thousands): September 30, 2016 Due one year or less Marketable Securities: Cost Fair Value Corporate debt securities $ 5,681 $ 5,677 Total $ 5,681 $ 5,677

Note 6 - Inventories

Note 6 - Inventories	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 6 - INVENTORIES Inventories consisted of the following (in thousands): September 30, 201 6 June 30, 201 6 Raw materials $ 806 $ 698 Work in progress 187 133 Finished goods 300 232 Total $ 1,293 $ 1,063

Note 7 - Distribution, License,

Note 7 - Distribution, License, Development and Commercialization Agreements	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE 7 – DISTRIBUTION, LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENTS Century On September 2, 2011, the Company signed a distribution agreement (the “Distribution Agreement”) with Century with respect to distribution of the Company’s planned microcutter products in Japan. Under the terms of a secured note purchase agreement, Century agreed to loan the Company an aggregate of up to $4.0 million, with principal due in September 30, 2016, subject to certain conditions, which principal due date was extended by two years effective July 1, 2014. Under this facility, the Company received $2.0 million on September 30, 2011, and the remaining $2.0 million on December 27, 2011. The note bears 5% annual interest which is payable quarterly in arrears through September 30, 2018, the maturity date when the total $4.0 million of principal becomes due. The timing of the repayment of the principal is subject to an uncertainty because in August 2016, Century asserted that the Company had an obligation to repay Century’s loan in the amount of $4.0 million within ten days of receiving net proceeds from financing of over $44.0 million in April 2014, notwithstanding that the Company entered into an agreement with Century in July 2014 to extend the due date to September 30, 2018. Century further has asserted that the Company owes Century penalty interest at the incremental rate of 7% per annum, but has offered to waive it if the Company immediately repays the loan. Such interest would amount to $0.7 million as of September 30, 2016. Please see additional details related to this in Note 8 . In return for the loan commitment, the Company granted Century distribution rights to the Company’s planned microcutter product line in Japan, and a right of first negotiation for distribution rights in Japan to future products. Century is responsible for securing regulatory approval from the Ministry of Health in Japan for the microcutter product line. In August 2013, Century filed for regulatory approval of the MicroCutter XCHANGE 30 blue and white reloads with the Pharmaceuticals and Medical Devices Agency and in April 2014, filed for the MicroCutter XCHANGE 30 stapler with TUV Rheinland Japan Ltd, a registered third-party agency in Japan and received approvals in late 2014 for both reloads and stapler, to market in Japan. Also, in January 2015, Century submitted an application to PMDA, relating to a change in the material of the reload insert component within the reloads, changing the distal tip of the reload insert material from a LCP to an IXEF, and received approval in August 2015, to market in Japan. Though approvals of the MicroCutter XCHANGE 30 stapler and reloads for marketing in Japan have been obtained, Century intends to wait until the Company releases the MicroCutter 5/80 to Century and Century will need to file additional regulatory approvals with the Ministry of Health to market the MicroCutter 5/80 in Japan. After approval for marketing in Japan, the Company would sell microcutter units to Century, who would then sell the microcutter devices to their customers in Japan. Proceeds from the note and granting the distribution rights were allocated to the note based on its aggregate fair value of $2.4 million at the dates of receipt. This fair value was determined by discounting cashflows using a discount rate of 18%, which the Company estimated a market rate of borrowing that could be obtained by companies with credit risk similar to the Company’s. The remainder of the proceeds of $1.6 million was recognized as debt issuance discount and was allocated to the value of the distribution rights granted to Century under the Distribution Agreement and is included in deferred revenue. The deferred revenue will be recognized over the term of the Distribution Agreement, beginning upon the first sale by Century of the microcutter products in Japan which had not occurred as of September 30, 2016. The Company’s distribution agreement with Century pertaining to the PAS-Port system, originally dated June 16, 2003, as amended, was due to expire on July 31, 2014. Concurrently and in return for the amendment of the note, as discussed above, to extend the maturity date to September 30, 2018, the Company amended its distribution agreement with Century for the PAS-Port system, effective July 1, 2014, to, among other things, renew the contract for another five years, extending the expiration date to July 31, 2019. The note amendment was accounted for as the modification of the 2011 note agreement, as the value of the consideration provided by the Company in the form of additional distribution rights was estimated to be approximately equal to the reduction in the fair value of the note. Accordingly, the Company reduced the carrying value of the note of $3.1 million to its post-modification fair value of $2.6 million, and recorded the resulting incremental discount of $0.5 million as deferred revenue. The Company determined the fair value of the amended note using the discount rate of 18%, which the Company estimated as the market rate of borrowing as of the modification date that could be obtained by companies with credit risk similar to the Company’s. The incremental discount of $0.5 million will be amortized over the remaining term of the note using the effective interest rate method. The deferred revenue will be recognized over the term of the distribution agreement beginning upon the first sale by Century of the microcutter products in Japan. As of September 30, 2016, and June 30, 2016, the balance of the loan was $3.2 million and $3.1 million net of debt issuance costs of $0.8 million and $0.9 million, respectively, and the distribution of the microcutter products had not begun for the respective periods. For the three months ended September 30, 2016 and 2015, sales of automated anastomosis systems to Century accounted for approximately 16% and 22%, of the Company’s total product sales. As of September 30, 2016, and June 30, 2016, Century accounted for approximately 15% and 33%, respectively, of the total accounts receivable balance. Intuitive Surgical On August 16, 2010, the Company entered into a license agreement with Intuitive Surgical Operations, Inc., or Intuitive Surgical, (the “License Agreement”) pursuant to which the Company granted to Intuitive Surgical a worldwide, sublicenseable, exclusive license to use the Company’s intellectual property in the robotics field in diagnostic or therapeutic medical procedures, but excluding vascular anastomosis applications, for an upfront license fee of $9.0 million. The Company is also eligible to receive a contingent payment related to achieving a certain sales volume. Each party has the right to terminate the License Agreement in the event of the other party’s uncured material breach or bankruptcy. Following any termination of the License Agreement, the licenses granted to Intuitive Surgical will continue, and except in the case of termination for the Company’s uncured material breach or insolvency, Intuitive Surgical’s payment obligations will continue as well. Under the License Agreement, Intuitive Surgical has rights to improvements in the Company’s technology and intellectual property over a specified period of time. The Company determined that there were two substantive deliverables under the License Agreement representing separate units of accounting: license rights to technology that existed as of August 16, 2010, and license rights to technology that may be developed over the following three years. The $9.0 million upfront license payment and $1.0 million premium on the stock purchase by Intuitive Surgical were aggregated and allocated to the two units of accounting based upon the relative estimated selling prices of the deliverables. The relative estimated selling prices of the deliverables were determined using a probability weighted expected return model with significant inputs relating to the nature of potential future outcomes and the probability of occurrence of future outcomes. Based upon the relative estimated selling prices of the deliverables, $9.0 million of the total consideration of $10.0 million was allocated to the license rights to technology that existed as of August 16, 2010, that has been recognized as revenue in the fiscal year ended June 30, 2011, and $1.0 million was allocated to technology that may be developed over the following three years that is being recognized as revenue ratably over that three year period. In total, the revenue recognized for the fiscal years ended June 30, 2016, 2015 and 2014, related to this arrangement were $0, $0 and $41,000, respectively. The Company has fully recognized such revenue, and as of June 30, 2015 and 2016, no deferred revenue related to this arrangement. On December 31, 2015, the Company and Intuitive Surgical amended the license agreement, which was initially signed in August 2010, to include, among other things, an agreement providing for a feasibility evaluation and potential development of a surgical stapling cartridge for use with Intuitive Surgical’s da Vinci The feasibility evaluation allowed Intuitive Surgical to test and evaluate the Company’s microcutter technology. The six-month feasibility evaluation of the Company’s microcutter technology was completed successfully in August 2016, and Intuitive Surgical exercised its option to initiate a joint development program for an 8-millimeters-in-diameter surgical stapling cartridge for use with the da Vinci Pursuant to the agreement, the Company will receive further funding for development of the cartridge and tooling as well as a unit-based royalty on commercial sales. The Company determined that there were two substantive deliverables under the amended license agreement representing separate units of accounting: license rights to technology that existed as of December 30, 2015; and license rights to technology that may be developed over the following two years. The $2.0 million payment from the amended license agreement was aggregated and allocated to the two units of accounting based upon the relative estimated selling prices of the deliverables. The relative estimated selling prices of the deliverables were determined using a probability weighted expected return model with significant inputs relating to the nature of potential future outcomes and the probability of occurrence of future outcomes, which approximates fair value based on Level 3 unobservable inputs. Based upon the relative estimated selling prices of the deliverables, $1.4 million of the total consideration of $2.0 million was allocated to the license rights to technology that existed as of December 30, 2015, that was recognized as revenue in the three months ended March 31, 2016, and $0.6 million was allocated to technology that may be developed over the following two years that was being recognized as revenue ratably over that two year period. As of September 30, 2016, the Company recognized a total of $1.5 million of license and development revenue and as of September 30, 2016, the Company had a deferred revenue of $0.5 million related to this amended license agreement. Cook Incorporated In June 2007, the Company entered into, and in September 2007 and in June 2009 amended, a license, development and commercialization agreement with Cook Incorporated, to develop and commercialize a specialized device, which the Company refers to as the PFO Device, designed to close holes in the heart from genetic heart defects known as patent foramen ovales (“PFOs”). Under the agreement, Cook funded certain development activities and the Company and Cook jointly developed the PFO Device. The Company’s significant deliverables under the arrangement were the license rights and the associated development activities. These deliverables were determined to represent one unit of accounting as there was no stand-alone value to the license rights. If developed, Cook would receive an exclusive, worldwide, royalty-bearing license, with the right to grant sublicenses, to make, have made, use, sell, offer for sale and import the PFO Device. The Company did not record any license and development revenue under this agreement for the three months ended September 30, 2016 or 2015. Amounts paid but not yet earned on the project are recorded as deferred revenue until such time as the related development expenses for certain project activities are incurred. A total of $0.4 million under this agreement had been recorded as deferred revenue as of September 30, 2016, and June 30, 2016. On January 6, 2010, the Company and Cook mutually agreed to suspend work on the PFO project and, accordingly, the Company does not anticipate receiving any additional payments or recording any additional revenue related to this agreement in the foreseeable future.

Note 8 - Note Payable

Note 8 - Note Payable	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 8 – NOTE PAYABLE In connection with the Distribution Agreement with Century (see Note 7), the Company entered into a secured note purchase agreement and a related security agreement pursuant to which Century agreed to loan to the Company up to an aggregate of $4.0 million, which amount was received in the fiscal year ended June 30, 2012, and the secured note purchase agreement was amended effective July 1, 2014, to extend the principal due date by two years. Under this facility, the Company received $2.0 million on September 30, 2011, and the remaining $2.0 million on December 27, 2011. This note bears 5% annual interest which is payable quarterly in arrears on the last business day of March, June, September and December of each year through September 30, 2018, the maturity date when the total $4.0 million of principal becomes due. The debt issuance discount of approximately $2.1 million is reflected as a reduction in long-term debt and is being amortized as interest expense over the term of the note using the effective interest method. The note is secured by substantially all of the Company's assets, including the Company’s intellectual property related to the PAS-Port® Proximal Anastomosis System, but excluding all other intellectual property, until the note is repaid. There are no covenants associated with this debt. In August 2016, Century asserted that the Company had an obligation to prepay Century’s loan in the amount of $4.0 million within ten days of receiving net proceeds from financing of over $44.0 million in April 2014, notwithstanding that the Company entered into an agreement with Century in July 2014 to extend the due date to September 30, 2018. Century further has asserted that the Company owes Century penalty interest at the incremental rate of 7% per annum, but has offered to waive it if the Company immediately repays the loan. Such interest would amount to $0.7 million as of September 30, 2016. The Company does not agree with Century’s assertions as the Company believes it had notified Century of the financing that occurred in April 2014 and the extension of the due date of the note agreement effectively waived the prepayment provisions of the loan. The Company is currently in discussions with Century to resolve this matter. The Company does not believe it is probable that Century would prevail in a legal resolution of this matter. Accordingly, the Company has not changed the classification of the note as a noncurrent liability as of September 30, 2016. Penalty interest has not been reflected in the financial statements as its payment is not considered probable. Additionally, the Company has not accelerated amortization of the remaining note discount ($0.8 million at September 30, 2016). As of September 30, 2016, and June 30, 2016, the balance of the loan was $3.2 million and $3.1 million net of debt issuance costs of $0.8 million and $0.9 million, respectively, and the distribution of the microcutter products had not begun for the respective periods.

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	3 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 9 – COMMITMENTS AND CONTINGENCIES Operating Lease On November 11, 2010, the Company entered into an amendment to its facility lease (the “Lease Amendment”). Pursuant to the Lease Amendment, the term of the lease was extended by four years, through August 31, 2015, and the Company was granted an improvement allowance of $0.1 million to be used in connection with the construction of alterations and refurbishment of improvements in the premises, which was used and reimbursed in November 2011, and January 2012. The leasehold improvement allowance was recorded as a reduction of rent expense on a straight-line basis over the term of the lease. On November 24, 2014, the Company entered into another amendment to its facility lease (the “Second Lease Amendment”), extended its lease by three years, from September 1, 2015, through August 31, 2018 (the “Second Extended Term”). In addition, under the Second Lease Amendment, the Company was granted an option to further extend the lease for a period of three years beyond August 31, 2018 (the “Option Term”), with the annual rent payable by the Company during the Option Term to be equal to the annual rent for comparable buildings, as described in the Second Lease Amendment. Under the operating lease, the Company is required to maintain a letter of credit with a restricted cash balance at the Company’s bank. A certificate of deposit of $0.1 million was recorded as restricted cash in the condensed consolidated balance sheet as of September 30, 2016, and June 30, 2016, related to the letter of credit. Future minimum lease payments under the Company’s non-cancelable operating leases having initial terms of a year or more as of September 30, 2016, including the Second Lease Amendment, are as follows (in thousands): Fiscal year ending June 30, Operating Leases 2017 (remaining nine months) $ 754 2018 1,032 2019 173 Total minimum lease payments $ 1,959

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Organization [Policy Text Block]	Organization Dextera Surgical Inc. (the “Company”) was incorporated in the state of Delaware on October 15, 1997, as Vascular Innovations, Inc. On November 26, 2001, the Company changed its name to Cardica, Inc., and on June 19, 2016, changed its name to Dextera Surgical Inc. The Company is commercializing and developing the MicroCutter 5/80™ stapler based on its proprietary “staple-on-a-strip” technology intended for use by thoracic, pediatric, bariatric, colorectal and general surgeons. The Company rebranded the latest version of its MicroCutter XCHANGE® 30 combo device as Dextera MicroCutter 5/80 stapler, which is currently commercially available, is a cartridge-based microcutter device with a 5 millimeter shaft diameter, 80 degrees of articulation, and a 30 millimeter staple line cleared for specified indications for use in the United States and in the European Union, or EU, for a broader range of specified indications of use. The Company previously had additional products in development, including the MicroCutter XCHANGE® 45, a cartridge-based microcutter device with an 8 millimeter shaft and a 45 millimeter staple line, and the MicroCutter FLEXCHANGE™ 30, a cartridge-based microcutter device with a flexible shaft to facilitate endoscopic procedures requiring cutting and stapling; however, the Company suspended development of these additional potential products to focus solely on development of the first MicroCutter XCHANGE 30, and now the MicroCutter 5/80. In March 2012, the Company completed the design verification for and applied Conformité Européenne, or the CE Mark, to the MicroCutter XCHANGE 30 (where the Company uses the term “MicroCutter XCHANGE 30” herein, the Company refers to earlier versions of the MicroCutter XCHANGE 30, not the latest version that the Company rebranded as the MicroCutter 5/80) and, in December 2012, began a controlled commercial launch of the MicroCutter XCHANGE 30 in Europe. The Company received from the United States Food and Drug Administration, or FDA, 510(k) clearances for the MicroCutter XCHANGE 30 and blue reload in January 2014, and for the white reload in February 2014, for use in multiple open or minimally-invasive surgical procedures for the transection, resection and/or creation of anastomoses in small and large intestine, as well as the transection of the appendix. The blue reload is a cartridge inserted in the MicroCutter XCHANGE 30 to deploy staples for use in medium thickness tissue, and the white reload is a cartridge inserted in the MicroCutter XCHANGE 30 to deploy staples for use in thin tissue. In March 2014, the Company made its first sale of the MicroCutter XCHANGE 30 in the United States, and subsequently temporarily suspended its controlled commercial launch in November 2014, as the Company shifted its focus to improved performance based on surgeons’ feedback. In April 2015, the Company resumed its controlled commercial launch primarily in Europe, of the MicroCutter XCHANGE 30 for thinner tissue usually requiring deployment of white reloads. In November 2015, the Company issued a voluntary withdrawal of the MicroCutter XCHANGE 30 blue cartridges from the market, and continued to sell the MicroCutter XCHANGE 30 device solely for use with the white cartridge. While the Company continues this controlled commercial launch, the Company’s goal was to complete product improvements on the MicroCutter 5/80 which accommodates thicker tissue by enabling deployment of both white and blue reloads. The Company has since ceased the production of the MicroCutter XCHANGE 30, and is focusing on producing and selling the MicroCutter 5/80. To further expand the use of the MicroCutter 5/80, the Company submitted 510(k) Premarket Notifications to the FDA to expand the indications for use to include vascular structures, and in January 2016, received FDA 510(k) clearance to use the MicroCutter 5/80 with a white reload and in July 2016, received FDA 510(k) clearance to use the MicroCutter 5/80 with a blue reload, both for the transection and resection in open or minimally invasive urologic, thoracic, and pediatric surgical procedures. These clearances complement the existing indications for use of the MicroCutter 5/80 in surgical procedures in the small and large intestine and in the appendix. Following the 510(k) clearances, the Company conducted its evaluation of the MicroCutter 5/80, that deploys both blue and white cartridges, with selected centers of key opinion leaders in the U.S. and Europe through initial market preference testing to validate clinical benefits prior to broadening its commercial launch. The Company recently completed its market preference testing of the MicroCutter 5/80 with approximately 55 procedures and 200 staple cartridge deployments with reliable, consistent performance and excellent hemostasis (stopping of the blood flow). Following its successful evaluation of the MicroCutter 5/80, the Company plans to expand its commercial launch to a select group of customers in the U.S. and Europe. The Company is currently conducting the MicroCutter-Assisted Thoracic Surgery Hemostasis (“MATCH”) registry, a post-market surveillance registry, to evaluate the hemostasis and ease-of-use for the MicroCutter 5/80. This is a prospective, open-label, multi-center registry and the Company plans to enroll up to 120 patients requiring surgical stapling during a lobectomy (surgical removal of a lobe of an organ) or segmentectomy (surgical removal of a segment of a lung lobe) at leading centers in the U.S. and Europe. The Company is also attempting to expand use of the MicroCutter 5/80 in the international market with selected regulatory filings. The Company submitted the application to Health Canada for regulatory approval of the MicroCutter XCHANGE 30 and the white cartridge reload and, in March 2016, received a medical device license to market in Canada. Although the Company is licensed to market the MicroCutter XCHANGE 30 with white reloads in Canada, the Company intends to wait until the Company files an amendment for the MicroCutter 5/80 with Health Canada for regulatory approval before it can market the MicroCutter 5/80 in Canada. In addition, in August 2013, the Company’s exclusive distributor in Japan, Century Medical, Inc., or Century, filed for regulatory approval of the MicroCutter XCHANGE 30 white and blue cartridge reloads with the Pharmaceuticals and Medical Devices Agency, or PMDA, in Japan and in April 2014, filed for approval for the MicroCutter XCHANGE 30 with TUV Rheinland Japan Ltd, a registered third-party agency in Japan, and received approvals in late 2014 for both reloads and stapler, to market in Japan. Also, in January 2015, Century submitted an application to PMDA relating to a change in the material of the reload insert component within the reloads, changing the distal tip of the reload insert material from a Vectra Liquid Crystal Polymer, or LCP, to IXEF Polyarylamide, or IXEF, and received approval in August 2015 to market in Japan. Though approvals of the MicroCutter XCHANGE 30 and reloads for marketing in Japan have been obtained, Century intends to wait until the Company releases the MicroCutter 5/80 to Century and Century will need to file additional regulatory approvals with the Ministry of Health to market the MicroCutter 5/80 in Japan. Historically, the Company generated product revenues primarily from the sale of automated anastomotic systems; however, the Company started generating revenues from the commercial sales of the microcutter products since its introduction in Europe in December 2012, and in the United States in March 2014, and through September 30, 2016, the Company generated $1.8 million of net product revenues from the commercial sales of the microcutter products. For the three months ended September 30, 2016, the Company generated net revenue of $0.5 million, including $0.4 million from the sale of automated anastomotic systems, $56,000 from commercial sales of the microcutter products, $26,000 from license and development revenue and $14,000 of royalty revenue.
Liquidity [Policy Text Block]	Going Concern The Company has incurred cumulative net losses of $209.7 million through September 30, 2016, and negative cash flows from operating activities and expects to incur losses for the next several years. As of September 30, 2016, the Company had approximately $9.0 million of cash, cash equivalents and short-term investments, and $4.0 million of debt principal outstanding. The Company believes that the existing cash, cash equivalents and short-term investments will be sufficient to meet its anticipated cash needs to enable it to conduct its business substantially as currently conducted for at least the next six months, subject to the ultimate resolution of the following uncertainty. The Company does not agree with Century’s assertions as the Company believes that it had notified Century of the financing that occurred in April 2014 and the extension of the due date of the note agreement effectively waived the prepayment provisions of the loan. The Company is currently in discussions with Century to resolve this matter. The Company does not believe it is probable that Century would prevail in a legal resolution of this matter. Accordingly, the Company has not changed the classification of the note as a noncurrent liability as of September 30, 2016. Penalty interest has not been reflected in the financial statements as its payment is not considered probable. Additionally, the Company has not accelerated amortization of the remaining note discount ($0.8 million at September 30, 2016). If the Company is required to repay the $4.0 million loan from Century along with the related penalty interest prior to September 30, 2018, this will reduce the period during which the existing cash, cash equivalents and short-term investments will be sufficient to meet the Company’s anticipated cash needs to less than three months from September 30, 2016, which would severely impair the Company’s ability to continue its business unless it is able to raise other funds to repay this debt. The Company may be able to extend these time periods to the extent that it decreases its planned expenditures, or raises additional capital. The Company would need to further reduce expenses in advance of the date on which it would exhaust its cash, cash equivalents and short-term investments in the event that it is unable to complete a financing, strategic or commercial transaction in the near term to ensure that it has sufficient capital to meet its obligations and continue on a path designed to create and preserve stockholders’ value. In order to satisfy its longer term liquidity requirements, the Company may seek to sell additional equity or debt securities, obtain a credit facility, enter into product development, license or distribution agreements with third parties or divest one or more of its commercialized products or products in development. The sale of additional equity or convertible debt securities could result in significant dilution to its stockholders, particularly in light of the prices at which its common stock has been recently trading. In addition, if the Company raises additional funds through the sale of equity securities, new investors could have rights superior to its existing stockholders. If additional funds are raised through the issuance of debt securities, these securities could have rights senior to those associated with its common stock and could contain covenants that would restrict its operations. Any product development, licensing, distribution or sale agreements that the Company enters into may require it to relinquish valuable rights, including with respect to commercialized products or products in development that the Company would otherwise seek to commercialize or develop itself. The Company may not be able to obtain sufficient additional financing or enter into a strategic transaction in a timely manner. Its need to raise capital may require it to accept terms that may harm its business or be disadvantageous to its current stockholders. The Company’s condensed consolidated financial statements have been prepared assuming that it will continue as a going concern. This assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Its continuation as a going concern is contingent upon its ability to generate revenue and cash flow to meet its obligations on a timely basis and its ability to raise financing. The Company’s plans may be adversely impacted if it fails to realize its assumed levels of revenues and expenses or savings from its cost reduction activities. However, there can be no assurance that the Company will be able to generate cash flows and raise such funds if and when they are required. Failure to obtain future funding when needed or on acceptable terms would adversely affect its ability to fund operations and continue as a going concern. These matters raise substantial doubt about the ability of the Company to continue in existence as a going concern. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.
Basis of Presentation and Principles of Consolidation [Policy Text Block]	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements which include the accounts of Dextera Surgical Inc. and its wholly-owned subsidiary in Germany. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for the fair statement of balances and results have been included. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year or any other interim period. The accompanying condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the fiscal year ended June 30, 2016, included in the Company’s Form 10-K filed with the Securities and Exchange Commission on October 12, 2016.
Stockholders' Equity, Policy [Policy Text Block]	Reverse Stock Split On February 16, 2016, the Company filed an amendment to its Amended and Restated Articles of Incorporation to effect a one-for-ten reverse split of its outstanding common stock (the “Reverse Split”) which had the effect of reducing the number of outstanding shares of common stock from 89,344,777 to 8,934,452, effective February 17, 2016. Any fractional shares of common stock resulting from the Reverse Split were settled in cash equal to the fraction of a share to which the holder was entitled. As a result of the Reverse Split, the Company reclassified its consolidated balance sheets total par value of approximately $80,000 from common stock to additional paid-in capital for the reporting periods. All shares of common stock, stock options, warrants to purchase common stock, the conversion rate of preferred stock and per share information presented in the condensed consolidated financial statements have been adjusted to reflect the Reverse Split on a retroactive basis for all periods presented and all share information is rounded down to the nearest whole share after reflecting the Reverse Split.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which amends the current guidance by replacing the incurred loss model with a forward-looking expected loss model. The standard is effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company will be evaluating the impact of the adoption of this guidance on its consolidated financial statements and related disclosures. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients," amending guidance in the new revenue standard on transition, collectability, noncash consideration and the presentation of sales taxes and other similar taxes. The amendments clarify that for a contract to be considered completed at transition, substantially all of the revenue must have been recognized under the existing GAAP. The amendments also clarified the collectability assessment and expanded circumstances under which nonrefundable consideration may receive revenue recognition when collectability of the remainder is not probable. It clarified that the fair value of noncash consideration should be measured at contract inception for determining the transaction price. The amendments permit an entity to make a policy election to exclude from the transaction price sales taxes and similar taxes. The effective date and transition requirements for these amendments are the same as those of the new revenue standard (ASU 2014-09, as amended by ASU 2015-14). The Company will be evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements and related disclosures. In April 2016, the FASB issued ASU 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing," adding clarification, while retaining the core principles in the revenue guidance. For identifying performance obligations, the ASU clarifies when a promised good or service is separately identifiable (i.e., distinct within the context of the contract) and allow entities to disregard items that are immaterial in the context of a contract. For licensing, the ASU clarifies how an entity should evaluate the nature of its promise in granting a license of IP, which will determine whether it recognizes revenue over time (“symbolic IP”) or at a point in time (“functional IP”).The effective date and transition requirements for these amendments are the same as those of the new revenue standard (ASU 2014-09, as amended by ASU 2015-14). The Company will be evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting, In March 2016, the FASB issued an accounting standard update ASU 2016-08, which clarifies the implementation guidance on principal versus agent considerations under the new revenue recognition standard, ASU 2014-09 (Topic 606), Revenue from Contracts with Customers. It requires the entity to determine whether the nature of its promise is to provide that good or service to the customer (that is, the entity is a principal) or to arrange for the good or service to be provided to the customer by the other party (that is, the entity is an agent). This determination is based upon whether the entity controls the good or service before it is transferred to the customer. The amendment will be effective for annual reporting periods beginning after December 15, 2017, which will be the Company’s fiscal year 2019 (beginning July 1, 2018). The Company will be evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases, In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In July 2015, the FASB issued an accounting standard update which requires an entity measuring inventory other than last-in, first-out (LIFO) or the retail inventory method to measure inventory at the lower of cost and net realizable value. When evidence exists that the net realizable value of inventory is lower than its costs, the difference will be recognized as a loss in the statement of operations. The standard is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The Company will be evaluating the impact of the adoption of this standard on the Company’s consolidated financial statements and disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers Revenue Recognition
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP generally requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Significant estimates include the valuation of inventory, measurement of stock based compensation, valuation of financial instruments and revenue recognition. Actual results could materially differ from these estimates.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company recognizes revenue when four basic criteria are met: (1) persuasive evidence of an arrangement exists; (2) title has transferred; (3) the fee is fixed or determinable; and (4) collectability is reasonably assured. The Company uses contracts and customer purchase orders to determine the existence of an arrangement. The Company uses shipping documents and third-party proof of delivery to verify that title has transferred. The Company assesses whether the fee is fixed or determinable based upon the terms of the agreement associated with the transaction. To determine whether collection is probable, the Company assesses a number of factors, including past transaction history with the customer and the creditworthiness of the customer. If the Company determines that collection is not reasonably assured, then the recognition of revenue is deferred until collection becomes reasonably assured, which is generally upon receipt of payment. The Company records product sales net of estimated product returns and discounts from the list prices for its products. The amounts of product returns and the discount amounts have not been material to date. The Company’s sales to distributors do not include price protection. Payments that are contingent upon the achievement of a substantive milestone are recognized in their entirety in the period in which the milestone is achieved subject to satisfaction of all revenue recognition criteria at that time. Revenue generated from license fees and performing development services are recognized when they are earned and non-refundable upon receipt, over the period of performance, or upon incurrence of the related development expenses in accordance with contractual terms, based on the actual costs incurred to date plus overhead costs for certain project activities. Amounts paid but not yet earned on a project are recorded as deferred revenue until such time as performance is rendered or the related development expenses, plus overhead costs for certain project activities, are incurred.
Inventory, Policy [Policy Text Block]	Inventories Inventories are recorded at the lower of cost or market on a first-in, first-out basis. The Company periodically assesses the recoverability of all inventories, including materials, work-in-process and finished goods, to determine whether adjustments for impairment are required. Inventory that is obsolete or in excess of forecasted usage is written down to its estimated net realizable value based on assumptions about future demand and market conditions. Further reduced demand may result in the need for additional inventory write-downs in the near term. Inventory write-downs are charged to cost of product sales and establish a lower cost basis for the inventory.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Risks and Uncertainties The Company depends upon a number of key suppliers, including single source suppliers, the loss of which would materially harm the Company’s business. Single source suppliers are relied upon for certain components and services used in manufacturing the Company’s products. The Company does not have long-term contracts with any of the suppliers; rather, purchase orders are submitted for each order. Because long-term contracts do not exist, none of the suppliers are required to provide the Company any guaranteed minimum quantities.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation The Company’s foreign operations are subject to exchange rate fluctuations and foreign currency costs. The functional currency of the German subsidiary is the United States dollar. Transactions and balances denominated in dollars are presented at their original amounts. Monetary assets and liabilities denominated in currencies other than the dollar are re-measured at the current exchange rate prevailing at the balance sheet date. All transaction gains or losses from the re-measurement of monetary assets and liabilities are included in the consolidated statements of operations within other income (expense).

Note 2 - Stockholders' Equity (

Note 2 - Stockholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three months ended September 30 , 201 6 201 5 Risk-free interest rate 1.11% 0.71% - 1.50% Dividend yield — — Weighted-average expected term (in years) 4.81 4.24 - 4.31 Expected volatility 74.9% 64.8% - 65.8%
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three months ended September 30 , 201 6 201 5 Cost of product sales $ 23 $ 18 Research and development 68 41 Selling, general and administrative 208 76 Total $ 299 $ 135

Note 3 - Net Loss Per Share (Ta

Note 3 - Net Loss Per Share (Tables)	3 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended September 30, 2016 2015 Numerator: Net loss $ (3,955 ) $ (4,642 ) Denominator: Denominator for basic and diluted net loss per share 8,928 8,896 Basic and diluted net loss per share $ (0.44 ) $ (0.52 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	As of September 30, 201 6 201 5 Options to purchase common stock 1,488 463 Unvested restricted stock awards 27 53 Shares reserved for issuance upon conversion of Series A Preferred 1,915 1,915 Total 3,430 2,431

Note 4 - Fair Value Measureme19

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2016
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	As of September 30, 2016 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 2,061 $ — $ — $ 2,061 Corporate debt securities — 500 — 500 Short-term investments: Corporate debt securities — 5,677 — 5,677 Total assets at fair value $ 2,061 $ 6,177 $ — $ 8,238 As of June 30, 201 6 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 3,029 $ — $ — $ 3,029 Short-term investments: Commercial paper — 999 — 999 Corporate debt securities — 8,091 — 8,091 Total assets at fair value $ 3,029 $ 9,090 $ — $ 12,119

Note 5 - Available-for-Sale S20

Note 5 - Available-for-Sale Securities (Tables)	3 Months Ended
	Sep. 30, 2016
Notes Tables
Available-for-sale Securities [Table Text Block]	As of September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Corporate debt securities – Short-term $ 5,681 $ — $ (4 ) $ 5,677 Total $ 5,681 $ — $ (4 ) $ 5,677 As of June 30, 201 6 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Commercial paper – Short-term $ 999 $ — $ — $ 999 Corporate debt securities – Short-term 8,095 — (4 ) 8,091 Total $ 9,094 $ — $ (4 ) $ 9,090
Schedule of Unrealized Loss on Investments [Table Text Block]	September 30, 2016 Less than 12 months 12 months or greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate debt securities $ 5,677 $ (4 ) $ — $ — $ 5,677 $ (4 ) Total $ 5,677 $ (4 ) $ — $ — $ 5,677 $ (4 ) June 30, 2016 Less than 12 months 12 months or greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate debt securities $ 8,091 $ (4 ) $ — $ — $ 8,091 $ (4 ) Total $ 8,091 $ (4 ) $ — $ — $ 8,091 $ (4 )
Investments Classified by Contractual Maturity Date [Table Text Block]	September 30, 2016 Due one year or less Marketable Securities: Cost Fair Value Corporate debt securities $ 5,681 $ 5,677 Total $ 5,681 $ 5,677

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	3 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 201 6 June 30, 201 6 Raw materials $ 806 $ 698 Work in progress 187 133 Finished goods 300 232 Total $ 1,293 $ 1,063

Note 9 - Commitments and Cont22

Note 9 - Commitments and Contingencies (Tables)	3 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Fiscal year ending June 30, Operating Leases 2017 (remaining nine months) $ 754 2018 1,032 2019 173 Total minimum lease payments $ 1,959

Note 1 - Summary of Significa23

Note 1 - Summary of Significant Accounting Policies (Details Textual)	Feb. 17, 2016shares	Apr. 30, 2014USD ($)	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)	Jun. 30, 2016USD ($)shares	Sep. 30, 2016USD ($)shares	Sep. 30, 2016USD ($)shares	Aug. 31, 2016USD ($)	Feb. 16, 2016shares	Jul. 01, 2014USD ($)
Reverse Stock Split [Member] | June 30, 2015 [Member] | Reclassification from Common Stock to Additional Paid-in Capital [Member]
Prior Period Reclassification Adjustment					$ 80,000
Reverse Stock Split [Member] | June 30, 2014 [Member] | Reclassification from Common Stock to Additional Paid-in Capital [Member]
Prior Period Reclassification Adjustment					80,000
Reverse Stock Split [Member] | Reclassification from Common Stock to Additional Paid-in Capital [Member]
Current Period Reclassification Adjustment					$ 80,000
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	10
Microcutter Products [Member]
Revenue, Net			$ 56,000			$ 1,800,000
Automated Anastomotic Systems [Member]
Revenue, Net			$ 400,000
Century Medical [Member] | Pro Forma [Member]
Debt Instrument, Penalty Rate			7.00%			7.00%	7.00%
Interest Expense, Debt Penalties			$ 700,000
Century Medical [Member]
Debt Instrument, Face Amount								$ 4,000,000
Debt Instrument, Unamortized Discount			800,000			$ 800,000	$ 800,000			$ 2,100,000
Revenue, Net			467,000	$ 755,000
License and Services Revenue			26,000
Royalty Revenue			14,000	18,000
Net Income (Loss) Attributable to Parent			(3,955,000)	$ (4,642,000)			(209,700,000)
Cash, Cash Equivalents, and Short-term Investments			9,000,000			9,000,000	9,000,000
Long-term Debt, Gross			$ 4,000,000			$ 4,000,000	$ 4,000,000
Proceeds from Issuance or Sale of Equity		$ 44,600,000
Common Stock, Shares, Outstanding | shares	8,934,452		8,934,452		8,927,830	8,934,452	8,934,452		89,344,777

Note 2 - Stockholders' Equity24

Note 2 - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2014	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2014
Common Stock [Member]
Stock Issued During Period, Shares, New Issues	3,737,500
Share Price	$ 8.50
Series A Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues	191,474
Share Price	$ 85
Convertible Preferred Stock, Shares Issued upon Conversion	10
Common Stock Ownership Threshold, Preferred Stock Conversion	9.98%
Dividends Payable				$ 1,900,000
Non-employees [Member]
Allocated Share-based Compensation Expense		$ 0	$ 3,407
Proceeds from Issuance or Sale of Equity	$ 44,600,000
Allocated Share-based Compensation Expense		300,000	$ 100,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 800,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		3 years 219 days

Note 2 - Stockholders' Equity -

Note 2 - Stockholders' Equity - Black-Scholes Valuation Assumptions (Details)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Minimum [Member]
Risk-free interest rate		0.71%
Weighted-average expected term (in years)		4 years 87 days
Expected volatility		64.80%
Maximum [Member]
Risk-free interest rate		1.50%
Weighted-average expected term (in years)		4 years 113 days
Expected volatility		65.80%
Risk-free interest rate	1.11%
Weighted-average expected term (in years)	4 years 295 days
Expected volatility	74.90%

Note 2 - Stockholders' Equity26

Note 2 - Stockholders' Equity - Non-Cash Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cost of Sales [Member]
Stock-based compensation expense	$ 23	$ 18
Research and Development Expense [Member]
Stock-based compensation expense	68	41
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	208	76
Stock-based compensation expense	$ 299	$ 135

Note 3 - Net Loss Per Share - C

Note 3 - Net Loss Per Share - Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands		3 Months Ended		228 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016
Numerator:
Net loss		$ (3,955,000)	$ (4,642,000)	$ (209,700,000)
Denominator:
Share (in shares)	[1]	8,928	8,896
Basic and diluted net loss per share (in dollars per share)	[1]	$ (0.44)	$ (0.52)
[1]	All per share amounts and shares of Dextera Surgical common stock issued and outstanding for all periods have been retroactively adjusted to reflect Dextera Surgicals one-for-ten reverse stock split of its common stock, which was effective February 17, 2016.

Note 3 - Net Loss Per Share - A

Note 3 - Net Loss Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Employee Stock Option [Member]
Antidilutive securities excluded from the computation of earnings per share (in shares)	1,488	463
Restricted Stock [Member]
Antidilutive securities excluded from the computation of earnings per share (in shares)	27	53
Common Stock Shares Reserved for Future Issuance [Member]
Antidilutive securities excluded from the computation of earnings per share (in shares)	1,915	1,915
Antidilutive securities excluded from the computation of earnings per share (in shares)	3,430	2,431

Note 4 - Fair Value Measureme29

Note 4 - Fair Value Measurements (Details Textual) - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Liabilities, Fair Value Disclosure, Recurring	$ 0
Cash	$ 700,000	$ 600,000

Note 4 - Fair Value Measureme30

Note 4 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Cash equivalents	$ 2,061	$ 3,029
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Cash equivalents
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Cash equivalents
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member]
Cash equivalents	2,061	3,029
Corporate Debt Securities with Maturity Less than 90 Days [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Cash equivalents
Corporate Debt Securities with Maturity Less than 90 Days [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Cash equivalents	500
Corporate Debt Securities with Maturity Less than 90 Days [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Cash equivalents
Corporate Debt Securities with Maturity Less than 90 Days [Member] | Fair Value, Measurements, Recurring [Member]
Cash equivalents	500
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Short-term Corporate Debt Securities [Member]
Investments
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Short-term Commercial Paper [Member]
Investments
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Total assets at fair value	2,061	3,029
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Short-term Corporate Debt Securities [Member]
Investments	5,677	8,091
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Short-term Commercial Paper [Member]
Investments		999
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Total assets at fair value	6,177	9,090
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Short-term Corporate Debt Securities [Member]
Investments
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Short-term Commercial Paper [Member]
Investments
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Total assets at fair value
Fair Value, Measurements, Recurring [Member] | Short-term Corporate Debt Securities [Member]
Investments	5,677	8,091
Fair Value, Measurements, Recurring [Member] | Short-term Commercial Paper [Member]
Investments		999
Fair Value, Measurements, Recurring [Member]
Total assets at fair value	8,238	12,119
Short-term Corporate Debt Securities [Member]
Investments	5,677	8,091
Short-term Commercial Paper [Member]
Investments		999
Investments	$ 5,677	$ 9,090

Note 5 - Available-for-Sale S31

Note 5 - Available-for-Sale Securities - Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Short-term Corporate Debt Securities [Member]
Amortized Cost	$ 5,681	$ 8,095
Gross Unrealized Losses	(4)	(4)
Fair Value	5,677	8,091
Investments	5,677	8,091
Short-term Commercial Paper [Member]
Amortized Cost		999
Gross Unrealized Losses
Fair Value		999
Investments		999
Amortized Cost	5,681	9,094
Gross Unrealized Losses	(4)	(4)
Fair Value	5,677	9,090
Investments	$ 5,677	$ 9,090

Note 5 - Available-for-Sale S32

Note 5 - Available-for-Sale Securities - Investment Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2015
Corporate Debt Securities [Member]
Less than 12 months Fair Value	$ 5,677	$ 8,091
Less than 12 months Gross Unrealized Losses	(4)	(4)
12 months or greater Fair Value
12 months or greater Gross Unrealized Losses
Total Fair Value	5,677	8,091
Total Gross Unrealized Losses	(4)	(4)
Less than 12 months Fair Value	5,677	8,091
Less than 12 months Gross Unrealized Losses	(4)	(4)
12 months or greater Fair Value
12 months or greater Gross Unrealized Losses
Total Fair Value	5,677	8,091
Total Gross Unrealized Losses	$ (4)	$ (4)

Note 5 - Available-for-Sale S33

Note 5 - Available-for-Sale Securities - Summary of Contractual Underlying Maturities (Details) $ in Thousands	Sep. 30, 2016USD ($)
Corporate Debt Securities [Member]
Due one year or less, Cost	$ 5,681
Due one year or less, Fair Value	5,677
Due one year or less, Cost	5,681
Due one year or less, Fair Value	$ 5,677

Note 6 - Inventories - Summary

Note 6 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Raw materials	$ 806	$ 698
Work in progress	187	133
Finished goods	300	232
Total	$ 1,293	$ 1,063

Note 7 - Distribution, Licens35

Note 7 - Distribution, License, Development and Commercialization Agreements (Details Textual) - USD ($)	Dec. 31, 2015	Jul. 01, 2014	Dec. 27, 2011	Sep. 30, 2011	Sep. 02, 2011	Aug. 16, 2010	Apr. 30, 2014	Sep. 30, 2011	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Aug. 31, 2016	Jun. 30, 2012	Jun. 30, 2011
Intuitive Surgical [Member] | Initial Licensing Agreement [Member]
Deferred Revenue, Current													$ 0	$ 0
Licenses Revenue						$ 9,000,000							0	$ 0	$ 41,000
Common Stock Premium						1,000,000
Noncash or Part Noncash Divestiture, Amount of Consideration Received						$ 10,000,000
Deferred Revenue, Noncurrent																		$ 1,000,000
Intuitive Surgical [Member] | Amended Licensing Agreement [Member] | Patented Technology [Member]
Proceeds from License Fees Received	$ 1,400,000
Intuitive Surgical [Member] | Amended Licensing Agreement [Member] | Developed Technology Rights [Member]
Proceeds from License Fees Received										$ 600,000
Intuitive Surgical [Member] | Amended Licensing Agreement [Member]
Deferred Revenue, Current									$ 500,000			$ 500,000
Proceeds from License Fees Received	$ 2,000,000
Licenses Revenue												1,500,000
Cook Incorporated [Member]
Deferred Revenue, Current									400,000			400,000	$ 400,000
Proceeds from License Fees Received									$ 0		$ 0
Century Medical [Member] | Sales Revenue, Net [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage									16.00%		22.00%
Century Medical [Member] | Accounts Receivable [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage									15.00%				33.00%
Century Medical [Member] | Notes Payable, Other Payables [Member]
Debt Instrument, Face Amount									$ 4,000,000			4,000,000					$ 4,000,000
Debt Instrument, Interest Rate, Stated Percentage					5.00%
Fair Value Inputs, Discount Rate					18.00%
Debt Instrument, Unamortized Discount					$ 1,600,000				500,000			500,000
Deferred Revenue									500,000			500,000
Notes Payable, Noncurrent									3,200,000			3,200,000	$ 3,100,000
Debt Issuance Costs, Line of Credit Arrangements, Net									$ 800,000			$ 800,000	900,000
Century Medical [Member] | Pro Forma [Member]
Debt Instrument, Penalty Rate									7.00%			7.00%
Interest Expense, Debt Penalties									$ 700,000
Century Medical [Member]
Debt Instrument, Face Amount																$ 4,000,000
Proceeds from Secured Notes Payable			$ 2,000,000	$ 2,000,000				$ 2,000,000
Debt Instrument, Interest Rate, Stated Percentage		5.00%
Notes Payable, Fair Value Disclosure					$ 2,400,000				2,600,000			$ 2,600,000
Debt Instrument, Unamortized Discount		$ 2,100,000							800,000			800,000
Distribution Agreement Term of Extension		5 years
Notes Payable									3,100,000			3,100,000
Deferred Revenue, Current									601,000			601,000	569,000
Proceeds from Issuance or Sale of Equity							$ 44,600,000
Notes Payable, Noncurrent									3,207,000			3,207,000	3,124,000
Deferred Revenue, Noncurrent									$ 2,441,000			$ 2,441,000	$ 2,499,000

Note 8 - Note Payable (Details

Note 8 - Note Payable (Details Textual) - USD ($)	Dec. 27, 2011	Sep. 30, 2011	Apr. 30, 2014	Sep. 30, 2011	Sep. 30, 2016	Aug. 31, 2016	Jun. 30, 2016	Jul. 01, 2014	Jun. 30, 2012	Sep. 02, 2011
Century Medical [Member] | Notes Payable, Other Payables [Member]
Debt Instrument, Face Amount					$ 4,000,000				$ 4,000,000
Debt Instrument, Interest Rate, Stated Percentage										5.00%
Debt Instrument, Unamortized Discount					500,000					$ 1,600,000
Notes Payable, Noncurrent					3,200,000		$ 3,100,000
Debt Issuance Costs, Line of Credit Arrangements, Net					$ 800,000		900,000
Century Medical [Member] | Pro Forma [Member]
Debt Instrument, Penalty Rate					7.00%
Interest Expense, Debt Penalties					$ 700,000
Century Medical [Member]
Debt Instrument, Face Amount						$ 4,000,000
Proceeds from Secured Notes Payable	$ 2,000,000	$ 2,000,000		$ 2,000,000
Debt Instrument, Interest Rate, Stated Percentage								5.00%
Debt Instrument, Unamortized Discount					800,000			$ 2,100,000
Proceeds from Issuance or Sale of Equity			$ 44,600,000
Notes Payable, Noncurrent					$ 3,207,000		$ 3,124,000

Note 9 - Commitments and Cont37

Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016	Aug. 31, 2015
Restricted Cash, Letter of Credit [Member]
Restricted Cash and Cash Equivalents	$ 100	$ 100
Restricted Cash and Cash Equivalents	$ 104	$ 104
Leasehold Improvements, Gross			$ 100

Note 9 - Commitments and Cont38

Note 9 - Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2016USD ($)
2017 (remaining nine months)	$ 754
2,018	1,032
2,019	173
Total minimum lease payments	$ 1,959