Vivani Medical (VANI) 10-Q 7 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 03, 2018
Document Information [Line Items]
Entity Registrant Name	SECOND SIGHT MEDICAL PRODUCTS INC
Entity Central Index Key	1,266,806
Trading Symbol	eyes
Current Fiscal Year End Date	--12-31
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)		67,074,542
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 7,476	$ 7,839
Accounts receivable, net	718	1,831
Inventories, net	3,567	2,700
Prepaid expenses and other current assets	599	795
Total current assets	12,360	13,165
Property and equipment, net	1,191	1,299
Deposits and other assets	66	33
Total assets	13,617	14,497
Current liabilities:
Accounts payable	1,220	752
Accrued expenses	2,071	2,425
Accrued compensation expense	2,448	2,611
Accrued clinical trial expenses	1,074	779
Contract liabilities	260	48
Total current liabilities	7,073	6,615
Commitments and contingencies
Stockholders’ equity:
Preferred stock, no par value, 10,000 shares authorized; none outstanding
Common stock, no par value; 200,000 shares authorized; shares issued and outstanding: 67,075 and 57,630 as of June 30, 2018 and December 31, 2017, respectively	216,805	202,156
Common stock issuable		153
Additional paid-in capital	42,434	40,522
Accumulated other comprehensive loss	(604)	(572)
Accumulated deficit	(252,091)	(234,377)
Total stockholders’ equity	6,544	7,882
Total liabilities and stockholders’ equity	$ 13,617	$ 14,497

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands, $ / shares in Thousands	Jun. 30, 2018	Dec. 31, 2017
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	200,000	200,000
Common stock, shares issued (in shares)	67,075	57,630
Common stock, shares outstanding (in shares)	67,075	57,630

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net sales	$ 1,907	$ 2,236	$ 2,883	$ 3,245
Cost of sales	836	1,127	1,504	2,254
Gross profit	1,071	1,109	1,379	991
Operating expenses:
Research and development, net of grants	2,422	1,949	4,895	3,796
Clinical and regulatory	1,126	684	2,475	1,298
Selling and marketing	2,879	2,447	5,891	4,682
General and administrative	2,632	2,901	5,875	5,642
Total operating expenses	9,059	7,981	19,136	15,418
Loss from operations	(7,988)	(6,872)	(17,757)	(14,427)
Interest income	27	29	43	36
Net loss	$ (7,961)	$ (6,843)	$ (17,714)	$ (14,391)
Net loss per common share – basic and diluted (in dollars per share)	$ (0.12)	$ (0.12)	$ (0.29)	$ (0.28)
Weighted average common shares outstanding – basic and diluted (in shares)	64,418	56,513	61,750	51,380

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net loss	$ (7,961)	$ (6,843)	$ (17,714)	$ (14,391)
Other comprehensive income (loss):
Foreign currency translation adjustment	(77)	92	(32)	122
Comprehensive loss	$ (8,038)	$ (6,751)	$ (17,746)	$ (14,269)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Common Stock Issuable [Member]	Additional Paid-in Capital [Member]	Notes Receivable for Stock Option Exercises [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2016	42,701,000	77,000
Balance at Dec. 31, 2016	$ 186,769	$ 153	$ 30,697	$ (2)	$ (608)	$ (205,861)	$ 11,148
Issuance of shares of common stock and warrants, net of issuance costs (in shares)	13,653,000
Issuance of shares of common stock and warrants, net of issuance costs	$ 13,647		6,021				19,668
Issuance of shares of common stock in connection with employee stock purchase plan (in shares)	193,000
Issuance of shares of common stock in connection with employee stock purchase plan	$ 189						189
Fair value of stock options issued for services			20				20
Common stock issuance for services (in shares)	223,000	(59,000)
Common stock issuance for services	$ 262	$ (132)					130
Release of restricted stock units (in shares)	24,000
Stock-based compensation expense			1,916				1,916
Repayment of notes receivable for stock option exercises				1			1
Net loss						(14,391)	(14,391)
Foreign currency translation adjustment					122		122
Balance (in shares) at Jun. 30, 2017	56,794,000	18,000
Balance at Jun. 30, 2017	$ 200,867	$ 21	38,654	$ (1)	(486)	(220,252)	$ 18,803
Balance (in shares) at Dec. 31, 2017	57,630,000	82,000					57,630,000
Balance at Dec. 31, 2017	$ 202,156	$ 153	40,522		(572)	(234,377)	$ 7,882
Issuance of shares of common stock and warrants, net of issuance costs (in shares)	8,981,000
Issuance of shares of common stock and warrants, net of issuance costs	$ 13,970						13,970
Issuance of shares of common stock in connection with employee stock purchase plan (in shares)	226,000
Issuance of shares of common stock in connection with employee stock purchase plan	$ 261						$ 261
Common stock issuance for services (in shares)	133,000	(82,000)					132,996
Common stock issuance for services	$ 262	$ (153)					$ 109
Release of restricted stock units (in shares)	24,000
Stock-based compensation expense			1,912				1,912
Net loss						(17,714)	(17,714)
Foreign currency translation adjustment					(32)		$ (32)
Balance (in shares) at Jun. 30, 2018	67,075,000						67,075,000
Balance at Jun. 30, 2018	$ 216,805		$ 42,434		$ (604)	$ (252,091)	$ 6,544
Exercise of common stock warrants (in shares)	5,000
Exercise of common stock warrants	$ 7						7
Exercise of common stock options (in shares)	76,000
Exercise of common stock options	$ 149						$ 149

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net loss	$ (17,714)	$ (14,391)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	222	229
Stock-based compensation	1,912	1,916
Bad debt recovery		(36)
Inventory reserve	61	(1,456)
Common stock issuance for services	109	130
Changes in operating assets and liabilities:
Accounts receivable	1,100	(704)
Inventories	(947)	1,887
Prepaid expenses and other assets	161	13
Accounts payable	471	(528)
Accrued expenses	(344)	206
Accrued compensation expenses	(162)	224
Accrued clinical trial expenses	294	3
Contract liabilities	213	56
Deferred grant revenue		(104)
Net cash used in operating activities	(14,624)	(12,555)
Cash flows from investing activities:
Purchases of property and equipment	(116)	(151)
Net cash used in investing activities	(116)	(151)
Cash flows from financing activities:
Net proceeds from rights offering		19,688
Net proceeds from sale of common stock	13,970
Proceeds from repayment of note receivable		1
Proceeds from exercise of options, warrants and employee stock purchase plan	417	189
Net cash provided by financing activities	14,387	19,878
Effect of exchange rate changes on cash and cash equivalents	(10)	82
Net increase (decrease)	(363)	7,254
Balance at beginning of period	7,839	10,875
Balance at end of period	7,476	18,129
Non-cash financing and investing activities:
Fair value of stock options issued for services		$ 20

Note 1 - Organization and Busin

Note 1 - Organization and Business Operations	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Nature of Operations [Text Block]	1. Second Sight Medical Products, Inc. (“Second Sight,” “we,” “us,” or “the Company”) was incorporated in the State of California in 2003. In 2007, two 99.5% 0.5% June 30, 2018. 100% Our current product, the Argus II retinal prosthesis system (“Argus II”), entered clinical trials in 2006, 2011, 2013. 2011, 2012, 2014, 2015, 2017, 2018. Going Concern From inception, our operations have been funded primarily through the sales of our common stock and warrants, as well as from the issuance of convertible debt, research and clinical grants, and limited product revenue generated from the sale of our Argus II product. During 2016 2017 six June 30, 2018, ● Issuance of common stock in our rights offering in June 2016, $19.5 ● Issuance of common stock and warrants in our rights offering in March 2017, $19.7 ● Issuance of common stock through our At Market Issuance Sales Agreement during the fourth 2017 first 2018, $5.1 ● Issuance of common stock in a stock purchase agreement in May 2018, $10.0 ● Revenue of $2.9 first six 2018, $8.0 $4.0 December 31, 2017 2016, We entered into a stock purchase agreement on May 3, 2018 6,756,757 $1.48 $10 No no 506 1933. In November 2017, may 3.0% January February 2018, 2.2 $4.0 No February 2018 Our financial statements have been presented on the basis that our business is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. We are subject to the risks and uncertainties associated with a business with one 2017 We do not 12 may may one may

Note 2 - Basis of Presentation,

Note 2 - Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	2. Basis of Presentation These unaudited interim financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and following the requirements of the United States Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. In our opinion, the unaudited interim financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of our financial position and our results of operations and cash flows for periods presented. Certain prior year amounts have been reclassified to conform to the current year presentation. These statements do not December 31, 2017, 10 March 20, 2018. not Significant Accounting Policies Our significant accounting policies are set forth in Note 2 10 December 31, 2017. Recent Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018 We generate our revenue from the sale of our Argus II retinal prosthesis systems, which include the implant and external components. Our product sales generally consist of the implant and related surgical supplies and may We sell our products through two 1 2 Under the Direct Channel, we sell our systems to customers who use our products and we receive payment directly from customers who use our products. Under our Indirect Channel, we have entered into distribution agreements that allow the distributors to sell our systems and fulfill performance obligations for surgical support and post-surgical support. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, we satisfy a performance obligation Revenue is generally recognized upon surgical implant, unless we have a significant post-surgical support performance obligation. We recognize revenue when a material reversal is no no third Management does not not

Note 3 - Concentration of Risk

Note 3 - Concentration of Risk	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	3. Credit Risk Financial instruments that subject us to concentrations of credit risk consist primarily of cash, money market funds, and trade accounts receivable. We maintain cash and money market funds with financial institutions that management deems reputable. We extend differing levels of credit to our customers, and typically do not Customer Concentration The following tables provide information about disaggregated revenue by service type, customer and geographical market. The following table shows our revenues by customer type during the three six June 30, 2018 2017: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Direct customers $ 1,798 $ 1,695 $ 2,456 $ 2,704 Distributors 109 541 427 541 Total $ 1,907 $ 2,236 $ 2,883 $ 3,245 During the three six June 30, 2018 2017, 10% : Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Customer 1 15 % 11 % 15 % 11 % Customer 2 12 % — % 8 % — % Customer 3 7 % — % 10 % — % Customer 4 6 % 10 % 8 % 7 % Customer 5 — % 14 % 3 % 9 % Customer 6 — % 13 % 2 % 9 % Customer 7 — % 12 % 7 % 12 % As of June 30, 2018 December 31, 2017, 10% June 30 , 2018 December 31, 2017 (unaudited) Customer 1 20 % 17 % Customer 2 20 % 8 % Customer 3 19 % — % Customer 4 16 % — % Customer 5 12 % — % Customer 6 12 % — % Customer 7 — % 16 % Customer 8 — % 11 % Geographic Concentration During the three six June 30, 2018 2017, 10% : Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 United States 56 % 50 % 55 % 52 % France 19 % 11 % 13 % 10 % Italy 15 % 11 % 15 % 11 % Korea 6 % 10 % 8 % 7 % Taiwan — % 14 % 3 % 9 % Foreign Operations The accompanying condensed consolidated financial statements as of June 30, 2018 December 31, 2017 $2.2 $2.7

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. The authoritative guidance with respect to fair value establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three one three 1 2, 3 Level 1. 1 Level 2. 1, 2 Level 3. no 3 Cash equivalents which includes money market funds are the only financial instrument measured and recorded at fair value on our consolidated balance sheet, and they are valued using Level 1 Assets measured at fair value on a recurring basis are as follows (in thousands): Total Level 1 Level 2 Level 3 June 30 , 2018 (unaudited): Money market funds $ 7,379 $ 7,379 $ — $ — December 31, 2017: Money market funds $ 7,235 $ 7,235 $ — $ —

Note 5 - Selected Balance Sheet

Note 5 - Selected Balance Sheet Detail	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	5. Inventories, net Inventories consist of the following (in thousands): June 30 , December 31, 2018 2017 (unaudited) Raw materials $ 643 $ 485 Work in process 2,137 2,620 Finished goods 2,913 1,660 5,693 4,765 Allowance for excess and obsolete inventory (2,126 ) (2,065 ) Inventories, net $ 3,567 $ 2,700 Property and equipment Property and equipment consist of the following (in thousands): June 30 , December 31, 2018 2017 (unaudited) Laboratory equipment $ 2,468 $ 2,450 Computer hardware and software 1,423 1,329 Leasehold improvements 298 298 Furniture, fixtures and equipment 46 46 4,235 4,123 Accumulated depreciation and amortization (3,044 ) (2,824 ) Property and equipment, net $ 1,191 $ 1,299 Contract Liabilities Contract liabilities consist of the following (in thousands): Beginning balance, December 31, 2017 $ 48 Consideration received in advance of revenue recognition 233 Revenue recognized (21 ) Ending Balance, June 30, 2018 $ 260

Note 6 - Equity Securities

Note 6 - Equity Securities	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. Common Stock Issuable Non-employee members of our Board of Directors have been paid for their services in common stock on June 1 twenty six June 30, 2018, 132,996 May 31, 2018 December 2017 may June 1, 2018. Potentially Dilutive Common Stock Equivalents As of June 30, 2018 2017, June 30 , 2018 2017 Common stock warrants issued to underwriter of initial public offering 802 802 Common stock warrants issued in connection with convertible debt — 1,038 Common stock warrants issued in connection with March 2017 rights offering 13,647 13,652 Common stock options 7,072 5,536 Common stock issuable — 18 Restricted stock units 59 107 Employee stock purchase plan 234 222 Total 21,814 21,375

Note 7 - Warrants

Note 7 - Warrants	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Warrant Disclosure [Text Block]	7. A summary of warrants activity for the six June 30, 2018 Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Life (in Years) Warrants outstanding as of December 31, 2017 15,130 $ 2.15 3.90 Issued — Exercised (5 ) 1.47 Forfeited or expired (676 ) 5.00 Warrants outstanding as of June 30, 2018 14,449 $ 2.01 3.60 Warrants exercisable as of June 30, 2018 14,449 $ 2.01 3.60 The intrinsic value of warrants outstanding as of June 30, 2018 $2.6

Note 8 - Stock-based Compensati

Note 8 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	8. A summary of stock option activity under our 2011 “2011 six June 30, 2018 Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Life (in Years) Options outstanding as of December 31, 2017 5,675 $ 4.87 7.40 Granted 2,465 $ 2.00 Exercised (76 ) $ 1.95 Forfeited or expired (992 ) $ 3.98 Options outstanding as of June 30, 2018 7,072 $ 4.03 6.97 Options exercisable as of June 30, 2018 2,766 $ 6.17 4.40 The estimated aggregate intrinsic value of stock options exercisable as of June 30, 2018 $8,000. June 30, 2018, $5.0 2.9 During the six June, 2018, 2,464,872 ten $1.80 $2.07 four $3.1 $1.09 $1.30 5.50 6.11 67.0%, 2.32% 3.00%, 0%. During the six June 30, 2018, $0.4 The following table summarizes restricted stock unit (“RSU”) activity for the six June 30, 2018 ( Number Shares Weighted Outstanding as of December 31, 2017 83 $ 12.43 Awarded — — Vested (24 ) — Forfeited/canceled — — Outstanding as of June 30, 2018 59 $ 12.43 As of June 30, 2018, $0.7 1.1 We adopted an employee stock purchase plan in June, 2015 June 30, 2018 may 1,550,000. six June 30, 2018, 225,887 Stock-based compensation expense recognized for stock-based awards in the condensed consolidated statements of operations for the three six June 30, 2018 2017 Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Cost of sales $ 63 $ 67 $ 127 $ 148 Research and development 107 75 211 132 Clinical and regulatory 11 44 103 93 Selling and marketing 92 112 215 206 General and administrative 354 637 1,256 1,337 Total $ 627 $ 935 $ 1,912 $ 1,916

Note 9 - Litigation, Claims and

Note 9 - Litigation, Claims and Assessments	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	9. Twenty- two third not may not We are party to litigation arising in the ordinary course of business. It is our opinion that the outcome of such matters will not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation These unaudited interim financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and following the requirements of the United States Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. In our opinion, the unaudited interim financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of our financial position and our results of operations and cash flows for periods presented. Certain prior year amounts have been reclassified to conform to the current year presentation. These statements do not December 31, 2017, 10 March 20, 2018. not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018 We generate our revenue from the sale of our Argus II retinal prosthesis systems, which include the implant and external components. Our product sales generally consist of the implant and related surgical supplies and may We sell our products through two 1 2 Under the Direct Channel, we sell our systems to customers who use our products and we receive payment directly from customers who use our products. Under our Indirect Channel, we have entered into distribution agreements that allow the distributors to sell our systems and fulfill performance obligations for surgical support and post-surgical support. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, we satisfy a performance obligation Revenue is generally recognized upon surgical implant, unless we have significant post-surgical support performance obligations. We recognize revenue when a material reversal is no no third Management does not not

Note 3 - Concentration of Risk

Note 3 - Concentration of Risk (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Direct customers $ 1,798 $ 1,695 $ 2,456 $ 2,704 Distributors 109 541 427 541 Total $ 1,907 $ 2,236 $ 2,883 $ 3,245
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Customer 1 15 % 11 % 15 % 11 % Customer 2 12 % — % 8 % — % Customer 3 7 % — % 10 % — % Customer 4 6 % 10 % 8 % 7 % Customer 5 — % 14 % 3 % 9 % Customer 6 — % 13 % 2 % 9 % Customer 7 — % 12 % 7 % 12 % June 30 , 2018 December 31, 2017 (unaudited) Customer 1 20 % 17 % Customer 2 20 % 8 % Customer 3 19 % — % Customer 4 16 % — % Customer 5 12 % — % Customer 6 12 % — % Customer 7 — % 16 % Customer 8 — % 11 %
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 United States 56 % 50 % 55 % 52 % France 19 % 11 % 13 % 10 % Italy 15 % 11 % 15 % 11 % Korea 6 % 10 % 8 % 7 % Taiwan — % 14 % 3 % 9 %

Note 4 - Fair Value Measureme19

Note 4 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Total Level 1 Level 2 Level 3 June 30 , 2018 (unaudited): Money market funds $ 7,379 $ 7,379 $ — $ — December 31, 2017: Money market funds $ 7,235 $ 7,235 $ — $ —

Note 5 - Selected Balance She20

Note 5 - Selected Balance Sheet Detail (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30 , December 31, 2018 2017 (unaudited) Raw materials $ 643 $ 485 Work in process 2,137 2,620 Finished goods 2,913 1,660 5,693 4,765 Allowance for excess and obsolete inventory (2,126 ) (2,065 ) Inventories, net $ 3,567 $ 2,700
Property, Plant and Equipment [Table Text Block]	June 30 , December 31, 2018 2017 (unaudited) Laboratory equipment $ 2,468 $ 2,450 Computer hardware and software 1,423 1,329 Leasehold improvements 298 298 Furniture, fixtures and equipment 46 46 4,235 4,123 Accumulated depreciation and amortization (3,044 ) (2,824 ) Property and equipment, net $ 1,191 $ 1,299
Contract with Customer, Asset and Liability [Table Text Block]	Beginning balance, December 31, 2017 $ 48 Consideration received in advance of revenue recognition 233 Revenue recognized (21 ) Ending Balance, June 30, 2018 $ 260

Note 6 - Equity Securities (Tab

Note 6 - Equity Securities (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	June 30 , 2018 2017 Common stock warrants issued to underwriter of initial public offering 802 802 Common stock warrants issued in connection with convertible debt — 1,038 Common stock warrants issued in connection with March 2017 rights offering 13,647 13,652 Common stock options 7,072 5,536 Common stock issuable — 18 Restricted stock units 59 107 Employee stock purchase plan 234 222 Total 21,814 21,375

Note 7 - Warrants (Tables)

Note 7 - Warrants (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Life (in Years) Warrants outstanding as of December 31, 2017 15,130 $ 2.15 3.90 Issued — Exercised (5 ) 1.47 Forfeited or expired (676 ) 5.00 Warrants outstanding as of June 30, 2018 14,449 $ 2.01 3.60 Warrants exercisable as of June 30, 2018 14,449 $ 2.01 3.60

Note 8 - Stock-based Compensa23

Note 8 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Life (in Years) Options outstanding as of December 31, 2017 5,675 $ 4.87 7.40 Granted 2,465 $ 2.00 Exercised (76 ) $ 1.95 Forfeited or expired (992 ) $ 3.98 Options outstanding as of June 30, 2018 7,072 $ 4.03 6.97 Options exercisable as of June 30, 2018 2,766 $ 6.17 4.40
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	Number Shares Weighted Outstanding as of December 31, 2017 83 $ 12.43 Awarded — — Vested (24 ) — Forfeited/canceled — — Outstanding as of June 30, 2018 59 $ 12.43
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Cost of sales $ 63 $ 67 $ 127 $ 148 Research and development 107 75 211 132 Clinical and regulatory 11 44 103 93 Selling and marketing 92 112 215 206 General and administrative 354 637 1,256 1,337 Total $ 627 $ 935 $ 1,912 $ 1,916

Note 1 - Organization and Bus24

Note 1 - Organization and Business Operations (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	May 03, 2018	May 31, 2018	Nov. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Feb. 28, 2018	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2007
Revenue from Contract with Customer, Including Assessed Tax							$ 1,907		$ 2,236		$ 2,883	$ 3,245
Proceeds from Issuance of Common Stock											13,970
Argus II Product [Member]
Revenue from Contract with Customer, Including Assessed Tax											$ 2,900		$ 8,000	$ 4,000
Right Offering [Member]
Proceeds from Issuance or Sale of Equity, Total				$ 19,700	$ 19,500
At Market Issuance Sales Agreement [Member]
Proceeds from Issuance or Sale of Equity, Total						$ 4,000		$ 5,100
Stock Issued During Period, Shares, New Issues						2,200,000				0
Sale of Stock, Commission Paid to Agents, Percentage of Gross Proceeds			3.00%
Stock Purchase Agreement [Member]
Proceeds from Issuance or Sale of Equity, Total		$ 10,000
Entities Beneficially Owned by Mr. Gregg Williams [Member] | Stock Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues	6,756,757
Share Price	$ 1.48
Proceeds from Issuance of Common Stock	$ 10,000
Second Sight (Switzerland) Sarl [Member]
Noncontrolling Interest, Ownership Percentage by Parent							100.00%			100.00%	100.00%				99.50%
Second Sight (Switzerland) Sarl [Member] | Executive Officer [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners							0.50%			0.50%	0.50%

Note 3 - Concentration of Ris25

Note 3 - Concentration of Risk (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets, Total	$ 13,617	$ 14,497
Second Sight (Switzerland) Sarl [Member]
Assets, Total	$ 2,200	$ 2,700

Note 3 - Concentration of Ris26

Note 3 - Concentration of Risk - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue from Contract with Customer, Including Assessed Tax	$ 1,907	$ 2,236	$ 2,883	$ 3,245
Sales Channel, Directly to Consumer [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,798	1,695	2,456	2,704
Sales Channel, Through Intermediary [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 109	$ 541	$ 427	$ 541

Note 3 - Concentration of Ris27

Note 3 - Concentration of Risk - Concentration of Risk (Details) - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Sales Revenue, Net [Member] | Customer 1 [Member]
Concentration risk, percentage	15.00%	11.00%	15.00%	11.00%
Sales Revenue, Net [Member] | Customer 2 [Member]
Concentration risk, percentage	12.00%		8.00%
Sales Revenue, Net [Member] | Customer 3 [Member]
Concentration risk, percentage	7.00%		10.00%
Sales Revenue, Net [Member] | Customer 4 [Member]
Concentration risk, percentage	6.00%	10.00%	8.00%	7.00%
Sales Revenue, Net [Member] | Customer 5 [Member]
Concentration risk, percentage		14.00%	3.00%	9.00%
Sales Revenue, Net [Member] | Customer 6 [Member]
Concentration risk, percentage		13.00%	2.00%	9.00%
Sales Revenue, Net [Member] | Customer 7 [Member]
Concentration risk, percentage		12.00%	7.00%	12.00%
Accounts Receivable [Member] | Customer 1 [Member]
Concentration risk, percentage			20.00%		17.00%
Accounts Receivable [Member] | Customer 2 [Member]
Concentration risk, percentage			20.00%		8.00%
Accounts Receivable [Member] | Customer 3 [Member]
Concentration risk, percentage			19.00%
Accounts Receivable [Member] | Customer 4 [Member]
Concentration risk, percentage			16.00%
Accounts Receivable [Member] | Customer 5 [Member]
Concentration risk, percentage			12.00%
Accounts Receivable [Member] | Customer 6 [Member]
Concentration risk, percentage			12.00%
Accounts Receivable [Member] | Customer 7 [Member]
Concentration risk, percentage					16.00%
Accounts Receivable [Member] | Customer 8 [Member]
Concentration risk, percentage					11.00%

Note 3 - Concentration of Ris28

Note 3 - Concentration of Risk - Revenue Based on Geographic Location (Details) - Sales Revenue, Net [Member] - Geographic Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
UNITED STATES
Concentration risk, percentage	56.00%	50.00%	55.00%	52.00%
FRANCE
Concentration risk, percentage	19.00%	11.00%	13.00%	10.00%
ITALY
Concentration risk, percentage	15.00%	11.00%	15.00%	11.00%
KOREA, REPUBLIC OF
Concentration risk, percentage	6.00%	10.00%	8.00%	7.00%
TAIWAN, PROVINCE OF CHINA
Concentration risk, percentage		14.00%	3.00%	9.00%

Note 4 - Fair Value Measureme29

Note 4 - Fair Value Measurements - Fair Value on a Recurring Basis (Details) - Money Market Funds [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Money market funds	$ 7,379	$ 7,235
Fair Value, Inputs, Level 1 [Member]
Money market funds	7,379	7,235
Fair Value, Inputs, Level 2 [Member]
Money market funds
Fair Value, Inputs, Level 3 [Member]
Money market funds

Note 5 - Selected Balance She30

Note 5 - Selected Balance Sheet Detail - Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Raw materials	$ 643	$ 485
Work in process	2,137	2,620
Finished goods	2,913	1,660
Inventories, gross	5,693	4,765
Allowance for excess and obsolete inventory	(2,126)	(2,065)
Inventories, net	$ 3,567	$ 2,700

Note 5 - Selected Balance She31

Note 5 - Selected Balance Sheet Detail - Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Property and equipment, gross	$ 4,235	$ 4,123
Accumulated depreciation and amortization	(3,044)	(2,824)
Property and equipment, net	1,191	1,299
Laboratory Equipment [Member]
Property and equipment, gross	2,468	2,450
Computer Hardware and Software [Member]
Property and equipment, gross	1,423	1,329
Leasehold Improvements [Member]
Property and equipment, gross	298	298
Furniture, Fixtures and Equipment [Member]
Property and equipment, gross	$ 46	$ 46

Note 5 - Selected Balance She32

Note 5 - Selected Balance Sheet Detail - Contract Liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Beginning balance, December 31, 2017	$ 48
Consideration received in advance of revenue recognition	233
Revenue recognized	(21)
Ending Balance, June 30, 2018	$ 260

Note 6 - Equity Securities (Det

Note 6 - Equity Securities (Details Textual)	6 Months Ended
	Jun. 30, 2018shares
Stock Issued During Period, Shares, Issued for Services	132,996

Note 6 - Equities Securities -

Note 6 - Equities Securities - Anti-dilutive Securities (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Anti-dilutive securities (in shares)	21,814	21,375
Underwriter's With Initial Public Offering [Member]
Anti-dilutive securities (in shares)	802	802
Warrants Issued in Connection With Convertible Debt [Member]
Anti-dilutive securities (in shares)		1,038
Warrants Issued in Connection With March 2017 Rights Offering [Member]
Anti-dilutive securities (in shares)	13,647	13,652
Employee Stock Option [Member]
Anti-dilutive securities (in shares)	7,072	5,536
Common Stock Issuable [Member]
Anti-dilutive securities (in shares)		18
Restricted Stock Units (RSUs) [Member]
Anti-dilutive securities (in shares)	59	107
Employee Stock Purchase Plan [Member]
Anti-dilutive securities (in shares)	234	222

Note 7 - Warrants (Details Text

Note 7 - Warrants (Details Textual) $ in Millions	Jun. 30, 2018USD ($)
Class of Warrant or Right, Outstanding, Intrinsic Value	$ 2.6

Note 7 - Warrants - Summary of

Note 7 - Warrants - Summary of Warrants Activity (Details) - $ / shares shares in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Warrants outstanding, number of shares (in shares)	15,130
Warrants outstanding, weighted average exercise price (in dollars per share)	$ 2.15
Warrants outstanding, weighted average remaining contractual life (Year)	3 years 219 days	3 years 328 days
Issued, number of shares (in shares)
Exercised, number of shares (in shares)	(5)
Exercised, weighted average exercise price (in dollars per share)	$ 1.47
Forfeited or expired, number of shares (in shares)	(676)
Forfeited or expired, weighted average exercise price (in dollars per share)	$ 5
Warrants outstanding, number of shares (in shares)	14,449	15,130
Warrants outstanding, weighted average exercise price (in dollars per share)	$ 2.01	$ 2.15
Warrants exercisable, number of shares (in shares)	14,449
Warrants exercisable, weighted average exercise price (in dollars per share)	$ 2.01
Warrants exercisable, weighted average remaining contractual life (Year)	3 years 219 days

Note 8 - Stock-based Compensa37

Note 8 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Allocated Share-based Compensation Expense, Total	$ 627,000	$ 935,000	$ 1,912,000	$ 1,916,000
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			1 year 36 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	700,000		$ 700,000
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	8,000		8,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 5,000,000		$ 5,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			2,465,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 2
2011 Equity Incentive Plan [Member] | Certain Employees and a Contractor [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			2,464,872
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value			$ 3,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			67.00%
2011 Equity Incentive Plan [Member] | Certain Employees and a Contractor [Member] | Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 1.80
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 1.09
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			5 years 182 days
2011 Equity Incentive Plan [Member] | Certain Employees and a Contractor [Member] | Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 2.07
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 1.30
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			6 years 40 days
2011 Equity Incentive Plan [Member] | Consultant [Member]
Allocated Share-based Compensation Expense, Total			$ 400,000
2011 Equity Incentive Plan [Member] | Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 328 days
2011 Equity Incentive Plan [Member] | Employee Stock Option [Member] | Certain Employees and a Contractor [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%
2011 Equity Incentive Plan [Member] | Employee Stock Option [Member] | Certain Employees and a Contractor [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			2.32%
2011 Equity Incentive Plan [Member] | Employee Stock Option [Member] | Certain Employees and a Contractor [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			3.00%
The 2015 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,550,000		1,550,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period			225,887

Note 8 - Stock-based Compensa38

Note 8 - Stock-based Compensation - Stock Option Activity (Details) - 2011 Equity Incentive Plan [Member] - $ / shares shares in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Options outstanding, number of shares (in shares)	5,675
Options outstanding, weighted average exercise price (in dollars per share)	$ 4.87
Options outstanding, weighted average remaining contractual life (Year)	6 years 354 days	7 years 146 days
Granted, number of shares (in shares)	2,465
Granted, weighted average exercise price (in dollars per share)	$ 2
Exercised, number of shares (in shares)	(76)
Exercised, weighted average exercise price (in dollars per share)	$ 1.95
Forfeited or expired, number of shares (in shares)	(992)
Forfeited or expired, weighted average exercise price (in dollars per share)	$ 3.98
Options outstanding, number of shares (in shares)	7,072	5,675
Options outstanding, weighted average exercise price (in dollars per share)	$ 4.03	$ 4.87
Options exercisable, number of shares (in shares)	2,766
Options exercisable, weighted average exercise price (in dollars per share)	$ 6.17
Options exercisable, weighted average remaining contractual life (Year)	4 years 146 days

Note 8 - Stock-based Compensa39

Note 8 - Stock-based Compensation - Restricted Stock Unit (RSU) Activity (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2018$ / sharesshares
Outstanding, number of awards (in shares) | shares	83
Outstanding, weighted average grant date fair value per share (in dollars per share) | $ / shares	$ 12.43
Awarded, number of awards (in shares) | shares
Awarded, weighted average grant date fair value per share (in dollars per share) | $ / shares
Vested, number of awards (in shares) | shares	(24)
Vested, weighted average grant date fair value per share (in dollars per share) | $ / shares
Forfeited/canceled, number of awards (in shares) | shares
Forfeited/canceled, weighted average grant date fair value per share (in dollars per share) | $ / shares
Outstanding, number of awards (in shares) | shares	59
Outstanding, weighted average grant date fair value per share (in dollars per share) | $ / shares	$ 12.43

Note 8 - Stock-based Compensa40

Note 8 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Allocated share-based compensation expense	$ 627	$ 935	$ 1,912	$ 1,916
Cost of Sales [Member]
Allocated share-based compensation expense	63	67	127	148
Research and Development Expense [Member]
Allocated share-based compensation expense	107	75	211	132
Clinical And Regulatory [Member]
Allocated share-based compensation expense	11	44	103	93
Selling and Marketing Expense [Member]
Allocated share-based compensation expense	92	112	215	206
General and Administrative Expense [Member]
Allocated share-based compensation expense	$ 354	$ 637	$ 1,256	$ 1,337