Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 12, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | SECOND SIGHT MEDICAL PRODUCTS INC | |
Entity Central Index Key | 0001266806 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Emerging Growth Company | true | |
Entity Small Business | true | |
Entity Ex Transition Period | true | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity File Number | 001-36747 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 02-0692322 | |
Entity Address, Address Line One | 12744 San Fernando Road | |
Entity Address, Address Line Two | Suite 400 | |
Entity Address, City or Town | Sylmar | |
Entity Address, Postal Zip Code | 91342 | |
City Area Code | 818 | |
Local Phone Number | 833-5000 | |
Entity Address, State or Province | CA | |
Entity Common Stock, Shares Outstanding | 124,598,198 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock | |
Trading Symbol | EYES | |
Security Exchange Name | NASDAQ | |
Warrant | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Warrants | |
Trading Symbol | EYESW | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 18,462 | $ 4,471 |
Accounts receivable, net | 264 | 504 |
Inventories, net | 1,264 | 3,250 |
Prepaid expenses and other current assets | 366 | 1,395 |
Total current assets | 20,356 | 9,620 |
Property and equipment, net | 1,125 | 1,025 |
Right-of-use assets | 2,399 | |
Deposits and other assets | 18 | 37 |
Total assets | 23,898 | 10,682 |
Current liabilities: | ||
Accounts payable | 1,126 | 1,305 |
Accrued expenses | 2,082 | 2,503 |
Accrued compensation expense | 2,461 | 2,690 |
Accrued clinical trial expenses | 734 | 933 |
Current operating lease liabilities | 228 | |
Contract liabilities | 554 | 167 |
Total current liabilities | 7,185 | 7,598 |
Long term operating lease liabilities | 2,427 | |
Total liabilities | 9,612 | 7,598 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, no par value, 10,000 shares authorized; none outstanding | ||
Common stock, no par value; 300,000 shares authorized; shares issued and outstanding: 124,598 and 76,336 as of September 30, 2019 and December 31, 2018, respectively | 263,656 | 229,019 |
Additional paid-in capital | 48,131 | 44,111 |
Accumulated other comprehensive loss | (585) | (575) |
Accumulated deficit | (296,916) | (269,471) |
Total stockholders’ equity | 14,286 | 3,084 |
Total liabilities and stockholders’ equity | $ 23,898 | $ 10,682 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Statement Of Financial Position [Abstract] | ||
Preferred stock, no par value (in dollars per share) | ||
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, no par value (in dollars per share) | ||
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 124,598,000 | 76,336,000 |
Common stock, shares outstanding (in shares) | 124,598,000 | 76,336,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Income Statement [Abstract] | ||||
Net sales | $ 472 | $ 2,246 | $ 2,882 | $ 5,129 |
Cost of sales | 364 | 1,784 | 2,028 | 3,287 |
Gross profit | 108 | 462 | 854 | 1,842 |
Operating expenses: | ||||
Research and development, net of grants | 3,379 | 2,672 | 8,998 | 7,567 |
Clinical and regulatory, net of grants | 862 | 964 | 2,404 | 3,439 |
Selling and marketing | 1,308 | 3,040 | 5,100 | 8,931 |
General and administrative | 2,178 | 2,332 | 6,883 | 8,208 |
Restructuring charges | 3,297 | |||
Total operating expenses | 7,727 | 9,008 | 26,682 | 28,145 |
Loss from operations | (7,619) | (8,546) | (25,828) | (26,303) |
Interest income | 35 | 24 | 104 | 67 |
Net loss | $ (7,584) | $ (8,522) | $ (25,724) | $ (26,236) |
Net loss per common share – basic and diluted | $ (0.06) | $ (0.12) | $ (0.22) | $ (0.41) |
Weighted average common shares outstanding – basic and diluted | 124,592 | 68,763 | 115,266 | 64,113 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net loss | $ (7,584) | $ (8,522) | $ (25,724) | $ (26,236) |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustments | (11) | 24 | (10) | (8) |
Comprehensive loss | $ (7,595) | $ (8,498) | $ (25,734) | $ (26,244) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Common Stock Issuable [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] |
Balance beginning at Dec. 31, 2017 | $ 7,882 | $ 202,156 | $ 153 | $ 40,522 | $ (572) | $ (234,377) |
Balance beginning (in shares) at Dec. 31, 2017 | 57,630,000 | 82,000 | ||||
Issuance of shares of common stock, net of issuance costs | 3,992 | $ 3,992 | ||||
Issuance of shares of common stock, net of issuance costs (in shares) | 2,224,000 | |||||
Warrants exercise | 7 | $ 7 | ||||
Warrants exercise (in shares) | 5,000 | |||||
Common stock issuance for services | 65 | $ 65 | ||||
Common stock issuance for services (in shares) | 34,000 | |||||
Release of restricted stock units (in shares) | 12,000 | |||||
Stock-based compensation expense | 1,285 | 1,285 | ||||
Exercise of common stock options | 8 | $ 8 | ||||
Exercise of common stock options (in shares) | 5,000 | |||||
Net loss | (9,753) | (9,753) | ||||
Foreign currency translation adjustment | 45 | 45 | ||||
Balance ending at Mar. 31, 2018 | 3,531 | $ 206,163 | $ 218 | 41,807 | (527) | (244,130) |
Balance ending (in shares) at Mar. 31, 2018 | 59,876,000 | 116,000 | ||||
Balance beginning at Dec. 31, 2017 | 7,882 | $ 202,156 | $ 153 | 40,522 | (572) | (234,377) |
Balance beginning (in shares) at Dec. 31, 2017 | 57,630,000 | 82,000 | ||||
Net loss | (26,236) | |||||
Foreign currency translation adjustment | (8) | |||||
Balance ending at Sep. 30, 2018 | 3,892 | $ 221,774 | 43,311 | (580) | (260,613) | |
Balance ending (in shares) at Sep. 30, 2018 | 70,312,000 | |||||
Balance beginning at Mar. 31, 2018 | 3,531 | $ 206,163 | $ 218 | 41,807 | (527) | (244,130) |
Balance beginning (in shares) at Mar. 31, 2018 | 59,876,000 | 116,000 | ||||
Issuance of shares of common stock, net of issuance costs | 9,978 | $ 9,978 | ||||
Issuance of shares of common stock, net of issuance costs (in shares) | 6,757,000 | |||||
Issuance of common stock inconnection with employeestock purchase plan | 261 | $ 261 | ||||
Issuance of shares of common stock in connection with employee stock purchase plan (in shares) | 226,000 | |||||
Common stock issuance for services | 44 | $ 262 | $ (218) | |||
Common stock issuance for services (in shares) | 133,000 | (116,000) | ||||
Release of restricted stock units (in shares) | 12,000 | |||||
Stock-based compensation expense | 627 | 627 | ||||
Exercise of common stock options | 141 | $ 141 | ||||
Exercise of common stock options (in shares) | 71,000 | |||||
Net loss | (7,961) | (7,961) | ||||
Foreign currency translation adjustment | (77) | (77) | ||||
Balance ending at Jun. 30, 2018 | 6,544 | $ 216,805 | 42,434 | (604) | (252,091) | |
Balance ending (in shares) at Jun. 30, 2018 | 67,075,000 | |||||
Issuance of shares of common stock, net of issuance costs | 4,969 | $ 4,969 | ||||
Issuance of shares of common stock, net of issuance costs (in shares) | 3,225,000 | |||||
Release of restricted stock units (in shares) | 12,000 | |||||
Stock-based compensation expense | 877 | 877 | ||||
Net loss | (8,522) | (8,522) | ||||
Foreign currency translation adjustment | 24 | 24 | ||||
Balance ending at Sep. 30, 2018 | 3,892 | $ 221,774 | 43,311 | (580) | (260,613) | |
Balance ending (in shares) at Sep. 30, 2018 | 70,312,000 | |||||
Balance beginning at Dec. 31, 2018 | $ 3,084 | $ 229,019 | 44,111 | (575) | (269,471) | |
Balance beginning (in shares) at Dec. 31, 2018 | 76,336,000 | 76,336,000 | ||||
Adoption of ASC Topic 842-Leases (see note 2) at Dec. 31, 2018 | $ (144) | (144) | ||||
Issuance of shares of common stock andwarrants in connection with rights offering,net of issuance costs | 34,399 | $ 34,399 | ||||
Issuance of shares of common stock and warrants in connection with rights offering, net of issuance costs (in shares) | 47,812,000 | |||||
Release of restricted stock units (in shares) | 50,000 | |||||
Warrants modification (see note 7) | 1,577 | (1,577) | ||||
Stock-based compensation expense | 898 | 898 | ||||
Net loss | (9,700) | (9,700) | ||||
Foreign currency translation adjustment | (8) | (8) | ||||
Balance ending at Mar. 31, 2019 | 28,529 | $ 263,418 | 46,586 | (583) | (280,892) | |
Balance ending (in shares) at Mar. 31, 2019 | 124,198,000 | |||||
Balance beginning at Dec. 31, 2018 | $ 3,084 | $ 229,019 | 44,111 | (575) | (269,471) | |
Balance beginning (in shares) at Dec. 31, 2018 | 76,336,000 | 76,336,000 | ||||
Adoption of ASC Topic 842-Leases (see note 2) at Dec. 31, 2018 | $ (144) | (144) | ||||
Net loss | (25,724) | |||||
Foreign currency translation adjustment | (10) | |||||
Balance ending at Sep. 30, 2019 | $ 14,286 | $ 263,656 | 48,131 | (585) | (296,916) | |
Balance ending (in shares) at Sep. 30, 2019 | 124,598,000 | 124,598,000 | ||||
Balance beginning at Mar. 31, 2019 | $ 28,529 | $ 263,418 | 46,586 | (583) | (280,892) | |
Balance beginning (in shares) at Mar. 31, 2019 | 124,198,000 | |||||
Issuance of common stock inconnection with employeestock purchase plan | 238 | $ 238 | ||||
Issuance of shares of common stock in connection with employee stock purchase plan (in shares) | 376,000 | |||||
Release of restricted stock units (in shares) | 12,000 | |||||
Stock-based compensation expense | 859 | 859 | ||||
Net loss | (8,440) | (8,440) | ||||
Foreign currency translation adjustment | 9 | 9 | ||||
Balance ending at Jun. 30, 2019 | 21,195 | $ 263,656 | 47,445 | (574) | (289,332) | |
Balance ending (in shares) at Jun. 30, 2019 | 124,586,000 | |||||
Release of restricted stock units (in shares) | 12,000 | |||||
Stock-based compensation expense | 686 | 686 | ||||
Net loss | (7,584) | (7,584) | ||||
Foreign currency translation adjustment | (11) | (11) | ||||
Balance ending at Sep. 30, 2019 | $ 14,286 | $ 263,656 | $ 48,131 | $ (585) | $ (296,916) | |
Balance ending (in shares) at Sep. 30, 2019 | 124,598,000 | 124,598,000 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (25,724) | $ (26,236) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 293 | 329 |
Stock-based compensation | 2,443 | 2,789 |
Bad debt recovery | (6) | |
Non-cash lease expense | 13 | |
Inventory reserve | (793) | 171 |
Restructuring charges-inventory impairment | 2,587 | |
Common stock issuance for services | 109 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 240 | 639 |
Inventories | 186 | (1,082) |
Prepaid expenses and other assets | 1,010 | 291 |
Accounts payable | (178) | 795 |
Accrued expenses | (282) | (447) |
Accrued compensation expenses | (227) | 351 |
Accrued clinical trial expenses | (199) | 155 |
Contract liabilities | 388 | 63 |
Net cash used in operating activities | (20,243) | (22,079) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (394) | (144) |
Net cash used in investing activities | (394) | (144) |
Cash flows from financing activities: | ||
Net proceeds from sale of common stock and warrants | 34,399 | 18,939 |
Proceeds from exercise of options, warrants and employee stock purchase plan options | 238 | 417 |
Net cash provided by financing activities | 34,637 | 19,356 |
Effect of exchange rate changes on cash and cash equivalents | (9) | |
Cash and cash equivalents: | ||
Net increase (decrease) | 13,991 | (2,867) |
Balance at beginning of period | 4,471 | 7,839 |
Balance at end of period | $ 18,462 | $ 4,972 |
Organization and Business Opera
Organization and Business Operations | 9 Months Ended |
Sep. 30, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Organization and Business Operations | 1. Organization and Business Operations Second Sight Medical Products, Inc. (“Second Sight,” “we,” “us,” or “the Company”) was incorporated in the State of California in 2003. Second Sight develops, manufactures and markets implantable visual prosthetics to potentially enable blind individuals to achieve greater independence. In 2007, Second Sight formed Second Sight Medical Products (Switzerland) Sàrl, initially to manage clinical trials for its products in Europe, and later to manage sales and marketing in Europe, the Middle East and Asia-Pacific. As the laws of Switzerland require at least two corporate stockholders, Second Sight Medical Products (Switzerland) Sàrl is 99.5% owned directly by us and 0.5% owned by an executive of Second Sight as of September 30, 2019. Accordingly, Second Sight Medical Products (Switzerland) Sàrl is considered 100% owned for financial statement purposes and is consolidated with Second Sight for all periods presented. We are currently developing the Orion ® Our commercially approved product, the Argus ® Liquidity and 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. Funding of our business since 2017 has been primarily provided by: • Revenue of $2.9 million for the nine months ended September 30, 2019 and $6.9 million for the year ended December 31, 2018 generated by sales of our Argus II product. • Issuance of common stock and warrants in a rights offering in February 2019, which provided net cash proceeds of $34.4 million. • Issuance of common stock in securities purchase agreements in May, August, October and December 2018, which provided net cash proceeds of $22.0 million. • Issuance of common stock through our At Market Issuance Sales Agreement (the “Sales Agreement”) On September 17, 2019, we received a $2.4 million, four-year grant from the National Institutes of Health (NIH) to develop spatial localization and mapping technology (“SLAM”). This grant involves a joint collaboration with the Johns Hopkins University Applied Physics Laboratory, and is intended to speed the integration of SLAM into future generations of Orion. The goal is to give Orion users the ability to localize objects and navigate landmarks in unfamiliar surroundings in real time. In a rights offering completed on February 22, 2019, we sold approximately 47.8 million units, each priced at $0.724 for gross proceeds of approximately $34.6 million. Each unit consisted of one share and one immediately exercisable warrant having an exercise price of $1.47 per share. Entities controlled by Gregg Williams, our Chairman of the Board of Directors, acquired approximately 41.4 million units in the offering for an aggregate investment of approximately $30 million. In November 2017, we entered into an At Market Issuance Sales Agreement with B. Riley FBR Inc. and H.C. Wainwright & Co., LLC, as agents (“Agents”) pursuant to which we may offer and sell, from time to time through either of the Agents, shares of our common stock having an aggregate offering price as set forth in the Sales Agreement and a related prospectus supplement filed with the SEC. We agreed to pay the Agents a cash commission of 3.0% of the aggregate gross proceeds from each sale of shares under the Sales Agreement. During January and February 2018, we sold 2.2 million shares of common stock which provided net proceeds of $4.0 million under the Sales Agreement. No shares have been sold since February 2018 under the Sales Agreement. On January 25, 2019, we received a letter from The Nasdaq Stock Market advising us that for 30 consecutive trading days preceding the date of the letter, the bid price of our common stock had closed below the $1.00 per share minimum required for continued listing on The Nasdaq Capital Market pursuant to listing rules, and therefore we could become subject to delisting if we did not regain compliance within the compliance period. Nasdaq has extended the compliance period for an additional 180 days through January 20, 2020 and we continue to monitor and evaluate our options including, if necessary, effecting a reverse stock split to cure this deficiency within this extended compliance period. 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 product line and limited commercial product revenues, including limitations on our operating capital resources and uncertain demand for our product. We have incurred recurring operating losses and negative operating cash flows since inception, and we expect to continue to incur operating losses and negative operating cash flows for the foreseeable future. We do not have sufficient funds to support our operations for the next 12 months from the date of issuance of these financial statements. Accordingly, these and other related factors raise substantial doubt about our ability to continue as a going concern. We anticipate that we will seek to additionally fund our operations through public or private equity or debt financings, grants, collaborations, strategic partnerships or other sources. However, we may be unable to raise additional capital or enter into such other arrangements when needed on favorable terms or at all. If we are unable to obtain funding on a timely basis, we may be required to significantly curtail, delay or discontinue one or more of our research or development programs or any other approved product candidates, or we may be unable to expand our operations, maintain our current organization and employee base or otherwise capitalize on our business opportunities, as desired, which could materially affect our business, financial condition and results of operations. The accompanying financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. |
Basis of Presentation, Signific
Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements | 2. Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements 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. These statements do not include all disclosures required by GAAP and should be read in conjunction with our financial statements and accompanying notes for the fiscal year ended December 31, 2018, contained in our Annual Report on Form 10-K filed with the SEC on March 19, 2019. The results of the interim periods are not necessarily indicative of the results expected for the full fiscal year or any other interim period or any future year or period. Significant Accounting Policies Discontinued operations Based upon our decision on May 10, 2019 to accelerate our transition to the Orion platform, we evaluated our accounting policies related to the disposition in accordance with ASC 205-20 Discontinued Operations Property, Plant, and Equipment Our significant accounting policies are set forth in Note 2 of the financial statements in our Annual Report on Form 10-K for the year ended December 31, 2018. Recently Adopted Accounting Pronouncements We adopted ASU No. 2016-02— Leases (Topic 842) We do not believe that any other recently issued, but not yet effective, accounting standards, if adopted, will have a material effect on the financial statements. |
Concentration of Risk
Concentration of Risk | 9 Months Ended |
Sep. 30, 2019 | |
Risks And Uncertainties [Abstract] | |
Concentration of Risk | 3. Concentration of Risk 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 we deem reputable. We extend differing levels of credit to our customers, and typically do not require collateral. 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 and nine months ended September 30, 2019 and 2018: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Direct customers $ 412 $ 1,921 $ 2,364 $ 4,378 Indirect customers (distributors) 60 325 518 751 Total $ 472 $ 2,246 $ 2,882 $ 5,129 During the three and nine months ended September 30, 2019 and 2018, the following customers each comprised greater than 10% of our total revenues : Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Customer 1 44 % 6 % 23 % 11 % Customer 2 29 % 4 % 12 % 4 % Customer 3 28 % — % 6 % — % Customer 4 — % — % 12 % 5 % Customer 5 — % 6 % 11 % 3 % Customer 6 — % 12 % 5 % 5 % Customer 7 — % 10 % 9 % 6 % Customer 8 — % 10 % — % 4 % As of September 30, 2019 and December 31, 2018, the following customers each comprised greater than 10% of our total accounts receivable: September 30, 2019 December 31, 2018 Customer 1 97 % — % Customer 2 — % 55 % Customer 3 — % 22 % Customer 4 — % 21 % Geographic Concentration During the three and nine months ended September 30, 2019 and 2018, regional revenue based on customer locations which each comprised greater than 10% of our total revenues, consisted of the following : Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Italy 44 % 6 % 23 % 11 % China 29 % 4 % 12 % 4 % United States 27 % 47 % 60 % 51 % France — % 15 % — % 14 % Canada — % 10 % — % 4 % Foreign Operations The accompanying condensed consolidated financial statements as of September 30, 2019 and December 31, 2018 include assets amounting to $1.8 million |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 4. Fair Value Measurements 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 levels, and requires that assets and liabilities carried at fair value be classified and disclosed in one of three categories, as presented below. Disclosure as to transfers in and out of Levels 1 and 2, and activity in Level 3 fair value measurements, is also required. Level 1. Observable inputs such as quoted prices in active markets for an identical asset or liability that we have the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active-exchange traded securities and exchange-based derivatives. Level 2. Inputs, other than quoted prices included within Level 1, which are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange based derivatives, mutual funds, and fair-value hedges. Level 3. Unobservable inputs in which there is little or no market data for the asset or liability which requires the reporting entity to develop its own assumptions. Financial assets and liabilities utilizing Level 3 inputs include infrequently-traded non-exchange-based derivatives and commingled investment funds, and are measured using present value pricing models. 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 inputs. Assets measured at fair value on a recurring basis are as follows (in thousands): Total Level 1 Level 2 Level 3 September 30, 2019 (unaudited): Money market funds $ 18,266 $ 18,266 $ — $ — December 31, 2018: Money market funds $ 4,156 $ 4,156 $ — $ — As of September 30, 2019 and December 31, 2018, the money market funds include $0.1 million and $0.2 million, respectively, held in a deposit account in Switzerland as security for the performance of contracts. |
Selected Balance Sheet Detail
Selected Balance Sheet Detail | 9 Months Ended |
Sep. 30, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Selected Balance Sheet Detail | 5. Selected Balance Sheet Detail Inventories, net Inventories consisted of the following (in thousands): September 30, December 31, 2019 2018 Raw materials $ 807 $ 791 Work in process 1,854 3,055 Finished goods 2,174 2,089 4,835 5,935 Allowance for excess and obsolete inventory and impairment charge (3,571 ) (2,685 ) Inventories, net $ 1,264 $ 3,250 We recorded $2.6 million as an impairment charge during the nine months ended September 30, 2019, related to our plans to suspend Argus II production. See note 2 for further details. Property and equipment Property and equipment consisted of the following (in thousands): September 30, December 31, 2019 2018 Laboratory equipment $ 2,723 $ 2,482 Computer hardware and software 1,590 1,456 Leasehold improvements 304 298 Furniture, fixtures and equipment 58 46 4,675 4,282 Accumulated depreciation and amortization (3,550 ) (3,257 ) Property and equipment, net $ 1,125 $ 1,025 Contract Liabilities Contract liabilities consisted of the following (in thousands): Beginning balance as of December 31, 2018 $ 167 Consideration received in advance of revenue recognition 387 Revenue recognized — Ending balance as of September 30, 2019 $ 554 Allowance for Doubtful Accounts Allowance for doubtful accounts consisted of the following (in thousands): Beginning balance as of December 31, 2018 $ 181 Additions — Write-offs (64 ) Ending balance as of September 30, 2019 $ 117 Right-of-use assets and operating lease liabilities We lease certain office space and equipment for our use. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease assets and liabilities consisted of the following (in thousands): Assets Classification September Non-current assets Right-of-use assets $ 2,399 Liabilities Current Current operating lease liabilities $ 228 Long term Long term operating lease liabilities $ 2,427 The components of lease expense for the three and nine months ended September 30, 2019 were as follows (unaudited): For the three months ended September 30, 2019 For the nine months ended Lease expense: Operating lease expense $ 123 $ 370 Short-term lease expense — — Total lease expense $ 123 $ 370 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 357 For operating lease: Weighted average remaining lease term (in years) 7.3 Weighted average discount rate 10 % Minimum future payments under the Company’s leases at September 30, 2019 and their application to the corresponding lease liabilities are as follows (unaudited): Discounted lease Payments due 2019 (remaining three months) $ 53 $ 120 2020 237 491 2021 278 505 2022 322 521 2023 352 516 Thereafter 1,413 1,704 Total $ 2,655 $ 3,857 |
Equity Securities
Equity Securities | 9 Months Ended |
Sep. 30, 2019 | |
Stockholders Equity Note [Abstract] | |
Equity Securities | 6. Equity Securities Increase in Authorized Shares of Common Stock On June 4, 2019, our shareholders approved an amendment to our restated articles of incorporation increasing our authorized no par value shares of common stock from 200 million to 300 million shares. Potentially Dilutive Common Stock Equivalents As of September 30, 2019 and 2018, we excluded the potentially dilutive securities summarized below, which entitle the holders thereof to potentially acquire shares of common stock, from our calculations of net loss per share and weighted average common shares outstanding, as their effect would have been anti-dilutive (in thousands). September 30, 2019 2018 Common stock warrants issued to underwriter of initial public offering 802 802 Common stock warrants issued in connection with March 2017 rights offering 13,647 13,647 Common stock warrants issued in connection with February 2019 rights offering 47,812 — Common stock options 8,680 7,581 Restricted stock units 488 47 Employee stock purchase plan 456 191 71,885 22,268 |
Warrants
Warrants | 9 Months Ended |
Sep. 30, 2019 | |
Warrants And Rights Note Disclosure [Abstract] | |
Warrants | 7. Warrants Warrants to purchase 47,812,371 shares of common stock with an exercise price of $1.47 per share were issued in the rights offering completed in February 2019. The warrants are listed for trading under the symbol “EYESW” on the NASDAQ Capital Market and expire on March 14, 2024. At the Company’s discretion, the warrants are redeemable on 30 days’ notice (i) if, after March 14, 2019, the shares of the Company’s common stock are trading at $2.94 for 15 consecutive trading days and (ii) if all of the independent directors vote in favor of redeeming the warrants. Holders may be able to sell or exercise warrants prior to any announced redemption date and the Company will redeem outstanding warrants not exercised by the announced redemption date for a nominal amount of $0.01 per Warrant. The net cash proceeds were allocated to the relative fair values of the common stock and warrants on the date of issuance resulting in an allocation of $0.47 per share to the common stock and $0.25 per share to the warrants. In calculating the fair value of the warrants using the Black-Scholes model, the assumptions included a risk free interest rate of 2.49%, expected volatility of 82% and expected life of 5.08 years, and a 0% dividend yield. We extended the term of 13,647,286 warrants issued in our March 2017 rights offering (“March 2017 Warrants”) by approximately two years effective as of February 15, 2019 as part of our February 2019 rights offering. We determined the fair value of the March 2017 Warrants immediately before and after the modification. The fair value of the March 2017 Warrants after the modification was increased by approximately $1.6 million, resulting in an accounting adjustment to additional paid-in capital and accumulated deficit in the consolidated statements of shareholders’ equity. A summary of warrants activity for the nine months ended September 30, 2019 is presented below (in thousands, except per share and contractual life data). Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (in Years) Warrants outstanding as of December 31, 2018 14,449 $ 2.01 3.10 Issued 47,812 1.47 Exercised — Forfeited or expired — Warrants outstanding as of September 30, 2019 62,261 $ 1.60 4.40 Warrants exercisable as of September 30, 2019 62,261 $ 1.60 4.40 The warrants outstanding as of September 30, 2019 had no intrinsic value. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation | 8. Stock-Based Compensation A summary of stock option activity under our 2011 Equity Incentive Plan (“2011 Plan”) for the nine months ended September 30, 2019 is presented below (in thousands, except per share and contractual life data). Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (in Years) Options outstanding as of December 31, 2018 7,120 $ 3.83 6.81 Granted 2,600 $ 0.77 Exercised — $ Forfeited or expired (1,040 ) $ 2.89 Options outstanding as of September 30, 2019 8,680 $ 3.03 7.28 Options exercisable as of September 30, 2019 4,385 $ 4.62 5.88 The estimated aggregate intrinsic value of stock options exercisable as of September 30, 2019 was approximately $14,000. As of September 30, 2019, there was $3.2 million of total unrecognized compensation cost related to outstanding stock options that will be recognized over a weighted average period of 2.51 years. During the nine months ended September 30, 2019, we granted stock options to purchase 2,600,042 shares of common stock to certain employees and directors. The options are exercisable for a period of ten years from the date of grant at prices ranging from $0.69 to $1.00 per share, which was the fair value of our common stock on the respective grant dates. The options generally vest over a period of four years with the exception of options issued in connection with director compensation which vest in approximately The following table summarizes restricted stock unit (“RSU”) activity for the nine months ended September 30, 2019 (in thousands, except per share data): Number of Shares Weighted Average Grant Date Fair Value Per Share Outstanding as of December 31, 2018 35 $ 12.43 Awarded 527 0.75 Vested and released (74 ) 6.51 Forfeited/canceled — — Outstanding as of September 30, 2019 488 $ 0.74 As of September 30, 2019, there was $0.3 million of total unrecognized compensation cost related to the outstanding RSUs that will be recognized over a weighted average period of 3.39 years. During the nine months ended September 30, 2019, we awarded RSUs of 526,500 to certain employees. The fair value of these RSUs totaled $0.4 million. The RSUs generally vest over a four year period, and were awarded at the fair value of our common stock on the respective award dates. We adopted an employee stock purchase plan in June 2015 for all eligible employees. At September 30, 2019 the maximum number of shares that may be issued under the plan is 2,050,000. Stock-based compensation expense recognized for stock-based awards in the condensed consolidated statements of operations for the three and nine months ended September 30, 2019 and 2018 was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of sales $ 43 $ 74 $ 133 $ 201 Research and development 119 110 440 321 Clinical and regulatory 19 19 84 122 Selling and marketing 118 165 379 380 General and administrative 387 509 1,407 1,765 Total $ 686 $ 877 $ 2,443 $ 2,789 |
Litigation, Claims and Assessme
Litigation, Claims and Assessments | 9 Months Ended |
Sep. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Litigation, Claims and Assessments | 9. Litigation, Claims and Assessments Twenty-two oppositions have been filed by third-parties in the European Patent Office each challenging the validity of a European patent owned or exclusively licensed by us. The outcome of the challenges is not certain. However, if successful, they may affect our ability to block competitors from utilizing some of our patented technology in Europe. We do not believe a successful challenge will have a material effect on our ability to manufacture and sell our products, or otherwise have a material effect on our operations. On August 22, 2019, Second Sight and Pixium Vision SA concluded a settlement agreement resolving all advertising disputes between the companies. The agreement provides that all litigation is withdrawn and costs are shared. The settlement does not address the patent opposition proceedings, between the companies, in the European Patent Office. We are party to litigation arising in the ordinary course of business. It is our opinion that the outcome of such matters will not have a material effect on our results of operations, however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Significant Accounting Policies | 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. These statements do not include all disclosures required by GAAP and should be read in conjunction with our financial statements and accompanying notes for the fiscal year ended December 31, 2018, contained in our Annual Report on Form 10-K filed with the SEC on March 19, 2019. The results of the interim periods are not necessarily indicative of the results expected for the full fiscal year or any other interim period or any future year or period. |
Discontinued Operations | Discontinued operations Based upon our decision on May 10, 2019 to accelerate our transition to the Orion platform, we evaluated our accounting policies related to the disposition in accordance with ASC 205-20 Discontinued Operations Property, Plant, and Equipment Our significant accounting policies are set forth in Note 2 of the financial statements in our Annual Report on Form 10-K for the year ended December 31, 2018. |
Recent Accounting Pronouncements | Recently Adopted Accounting Pronouncements We adopted ASU No. 2016-02— Leases (Topic 842) We do not believe that any other recently issued, but not yet effective, accounting standards, if adopted, will have a material effect on the financial statements. |
Concentration of Risk (Tables)
Concentration of Risk (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Risks And Uncertainties [Abstract] | |
Schedules of Revenues by Customer Type | The following table shows our revenues by customer type during the three and nine months ended September 30, 2019 and 2018: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Direct customers $ 412 $ 1,921 $ 2,364 $ 4,378 Indirect customers (distributors) 60 325 518 751 Total $ 472 $ 2,246 $ 2,882 $ 5,129 |
Schedule of Concentration of Risk | During the three and nine months ended September 30, 2019 and 2018, the following customers each comprised greater than 10% of our total revenues : Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Customer 1 44 % 6 % 23 % 11 % Customer 2 29 % 4 % 12 % 4 % Customer 3 28 % — % 6 % — % Customer 4 — % — % 12 % 5 % Customer 5 — % 6 % 11 % 3 % Customer 6 — % 12 % 5 % 5 % Customer 7 — % 10 % 9 % 6 % Customer 8 — % 10 % — % 4 % As of September 30, 2019 and December 31, 2018, the following customers each comprised greater than 10% of our total accounts receivable: September 30, 2019 December 31, 2018 Customer 1 97 % — % Customer 2 — % 55 % Customer 3 — % 22 % Customer 4 — % 21 % |
Schedule of Geographic Concentration of Risk in Revenue | During the three and nine months ended September 30, 2019 and 2018, regional revenue based on customer locations which each comprised greater than 10% of our total revenues, consisted of the following : Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Italy 44 % 6 % 23 % 11 % China 29 % 4 % 12 % 4 % United States 27 % 47 % 60 % 51 % France — % 15 % — % 14 % Canada — % 10 % — % 4 % |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets Measured on Recurring Basis | Assets measured at fair value on a recurring basis are as follows (in thousands): Total Level 1 Level 2 Level 3 September 30, 2019 (unaudited): Money market funds $ 18,266 $ 18,266 $ — $ — December 31, 2018: Money market funds $ 4,156 $ 4,156 $ — $ — |
Selected Balance Sheet Detail (
Selected Balance Sheet Detail (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Schedule of Inventories | Inventories consisted of the following (in thousands): September 30, December 31, 2019 2018 Raw materials $ 807 $ 791 Work in process 1,854 3,055 Finished goods 2,174 2,089 4,835 5,935 Allowance for excess and obsolete inventory and impairment charge (3,571 ) (2,685 ) Inventories, net $ 1,264 $ 3,250 |
Schedule of Property and Equipment | Property and equipment consisted of the following (in thousands): September 30, December 31, 2019 2018 Laboratory equipment $ 2,723 $ 2,482 Computer hardware and software 1,590 1,456 Leasehold improvements 304 298 Furniture, fixtures and equipment 58 46 4,675 4,282 Accumulated depreciation and amortization (3,550 ) (3,257 ) Property and equipment, net $ 1,125 $ 1,025 |
Schedule of Contract Liabilities | Contract liabilities consisted of the following (in thousands): Beginning balance as of December 31, 2018 $ 167 Consideration received in advance of revenue recognition 387 Revenue recognized — Ending balance as of September 30, 2019 $ 554 |
Schedule of Allowance for Doubtful Accounts | Allowance for doubtful accounts consisted of the following (in thousands): Beginning balance as of December 31, 2018 $ 181 Additions — Write-offs (64 ) Ending balance as of September 30, 2019 $ 117 |
Schedule of Lease Assets and Liabilities | Lease assets and liabilities consisted of the following (in thousands): Assets Classification September Non-current assets Right-of-use assets $ 2,399 Liabilities Current Current operating lease liabilities $ 228 Long term Long term operating lease liabilities $ 2,427 |
Schedule of Lease Costs | The components of lease expense for the three and nine months ended September 30, 2019 were as follows (unaudited): For the three months ended September 30, 2019 For the nine months ended Lease expense: Operating lease expense $ 123 $ 370 Short-term lease expense — — Total lease expense $ 123 $ 370 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 357 For operating lease: Weighted average remaining lease term (in years) 7.3 Weighted average discount rate 10 % |
Schedule of Minimum Future Payments | Minimum future payments under the Company’s leases at September 30, 2019 and their application to the corresponding lease liabilities are as follows (unaudited): Discounted lease Payments due 2019 (remaining three months) $ 53 $ 120 2020 237 491 2021 278 505 2022 322 521 2023 352 516 Thereafter 1,413 1,704 Total $ 2,655 $ 3,857 |
Equity Securities (Tables)
Equity Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Stockholders Equity Note [Abstract] | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | As of September 30, 2019 and 2018, we excluded the potentially dilutive securities summarized below, which entitle the holders thereof to potentially acquire shares of common stock, from our calculations of net loss per share and weighted average common shares outstanding, as their effect would have been anti-dilutive (in thousands). September 30, 2019 2018 Common stock warrants issued to underwriter of initial public offering 802 802 Common stock warrants issued in connection with March 2017 rights offering 13,647 13,647 Common stock warrants issued in connection with February 2019 rights offering 47,812 — Common stock options 8,680 7,581 Restricted stock units 488 47 Employee stock purchase plan 456 191 71,885 22,268 |
Warrants (Tables)
Warrants (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Warrants And Rights Note Disclosure [Abstract] | |
Summary of Warrant Activity | A summary of warrants activity for the nine months ended September 30, 2019 is presented below (in thousands, except per share and contractual life data). Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (in Years) Warrants outstanding as of December 31, 2018 14,449 $ 2.01 3.10 Issued 47,812 1.47 Exercised — Forfeited or expired — Warrants outstanding as of September 30, 2019 62,261 $ 1.60 4.40 Warrants exercisable as of September 30, 2019 62,261 $ 1.60 4.40 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Stock Option Activity | A summary of stock option activity under our 2011 Equity Incentive Plan (“2011 Plan”) for the nine months ended September 30, 2019 is presented below (in thousands, except per share and contractual life data). Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (in Years) Options outstanding as of December 31, 2018 7,120 $ 3.83 6.81 Granted 2,600 $ 0.77 Exercised — $ Forfeited or expired (1,040 ) $ 2.89 Options outstanding as of September 30, 2019 8,680 $ 3.03 7.28 Options exercisable as of September 30, 2019 4,385 $ 4.62 5.88 |
Summary of Restricted Stock Unit (RSU) Activity | The following table summarizes restricted stock unit (“RSU”) activity for the nine months ended September 30, 2019 (in thousands, except per share data): Number of Shares Weighted Average Grant Date Fair Value Per Share Outstanding as of December 31, 2018 35 $ 12.43 Awarded 527 0.75 Vested and released (74 ) 6.51 Forfeited/canceled — — Outstanding as of September 30, 2019 488 $ 0.74 |
Stock-based Compensation Expense | Stock-based compensation expense recognized for stock-based awards in the condensed consolidated statements of operations for the three and nine months ended September 30, 2019 and 2018 was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of sales $ 43 $ 74 $ 133 $ 201 Research and development 119 110 440 321 Clinical and regulatory 19 19 84 122 Selling and marketing 118 165 379 380 General and administrative 387 509 1,407 1,765 Total $ 686 $ 877 $ 2,443 $ 2,789 |
Organization and Business Ope_2
Organization and Business Operations - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | Sep. 17, 2019 | Feb. 22, 2019 | Jan. 25, 2019 | Feb. 28, 2019 | Feb. 28, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Sep. 30, 2019 |
Organization And Business Operations [Line Items] | |||||||||||||
Net sales | $ 472 | $ 2,246 | $ 2,882 | $ 5,129 | $ 6,900 | ||||||||
Type of Revenue [Extensible List] | us-gaap:ProductMember | us-gaap:ProductMember | |||||||||||
Received grant | $ 2,400 | ||||||||||||
Grant received funding period | 4 years | ||||||||||||
Closing bid price of common stock | $ 1 | ||||||||||||
Nasdaq Capital Marke [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Extension of additional compliance period, in days | 180 days | ||||||||||||
Extension of compliance period, date | Jan. 20, 2020 | ||||||||||||
Common Stock [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Share price (in dollars per share) | $ 0.47 | $ 0.47 | $ 0.47 | ||||||||||
Exercise price of exercisable warrant | $ 2.94 | $ 2.94 | $ 2.94 | ||||||||||
Right Offering [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Proceeds from issuance or sale of equity, total | $ 34,600 | $ 34,400 | |||||||||||
Number of shares issued upon right offering | 47,800,000 | ||||||||||||
Share price (in dollars per share) | $ 0.724 | ||||||||||||
Exercise price of exercisable warrant | $ 1.47 | $ 1.47 | |||||||||||
Right Offering [Member] | Common Stock [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Number of securities called by each warrant or right | 1 | ||||||||||||
Right Offering [Member] | Warrant | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Number of securities called by each warrant or right | 1 | ||||||||||||
At Market Issuance Sales Agreement [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Proceeds from issuance or sale of equity, total | $ 4,000 | $ 4,000 | |||||||||||
Sale of Stock, commission paid to agents, percentage of gross proceeds | 3.00% | ||||||||||||
Issuance of shares of common stock in connection with ATM, net of expenses (in shares) | 2,200 | 0 | |||||||||||
Entities Beneficially Owned by Mr. Gregg Williams [Member] | Stock Purchase Agreement [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Proceeds from issuance or sale of equity, total | $ 22,000 | ||||||||||||
Entities Beneficially Owned by Mr. Gregg Williams [Member] | Right Offering [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Proceeds from issuance or sale of equity, total | $ 30,000 | ||||||||||||
Number of shares issued upon right offering | 41,400,000 | ||||||||||||
Second Sight (Switzerland) Sarl [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Noncontrolling interest, ownership percentage by parent | 99.50% | 99.50% | 99.50% | ||||||||||
Second Sight (Switzerland) Sarl [Member] | Executive Officer [Member] | |||||||||||||
Organization And Business Operations [Line Items] | |||||||||||||
Noncontrolling interest, ownership percentage by noncontrolling owners | 0.50% | 0.50% | 0.50% |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Details) - USD ($) | May 10, 2019 | Jun. 30, 2019 | Sep. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Restructuring charges, total | $ 3,297,000 | ||||
Restructuring charges, settled | 400,000 | ||||
Right-of-use assets | 2,399,000 | $ 2,600,000 | |||
Operating Lease, Liability | 2,655,000 | 2,800,000 | |||
Adjustment of difference between right-of-use assets and operating lease liabilities | $ (144,000) | ||||
ASU No 2016-02 [Member] | |||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Adjustment of difference between right-of-use assets and operating lease liabilities | $ 200,000 | ||||
Argus II Product [Member] | |||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||
Impairment charge | $ 2,600,000 | ||||
Restructuring charges, total | $ 700,000 | ||||
Other assets impairment charge | $ 0 |
Concentration of Risk - Schedul
Concentration of Risk - Schedule of Revenues by Customer Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Concentration Risk [Line Items] | |||||
Revenue | $ 472 | $ 2,246 | $ 2,882 | $ 5,129 | $ 6,900 |
Direct Customers [Member] | |||||
Concentration Risk [Line Items] | |||||
Revenue | 412 | 1,921 | 2,364 | 4,378 | |
Indirect Customers (Distributors) [Member] | |||||
Concentration Risk [Line Items] | |||||
Revenue | $ 60 | $ 325 | $ 518 | $ 751 |
Concentration of Risk - Sched_2
Concentration of Risk - Schedule of Concentration of Risk (Details) - Customer Concentration Risk [Member] | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Customer 1 [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 44.00% | 6.00% | 23.00% | 11.00% | |
Customer 1 [Member] | Accounts Receivable [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 97.00% | ||||
Customer 2 [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 29.00% | 4.00% | 12.00% | 4.00% | |
Customer 2 [Member] | Accounts Receivable [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 55.00% | ||||
Customer 3 [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 28.00% | 6.00% | |||
Customer 3 [Member] | Accounts Receivable [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 22.00% | ||||
Customer 4 [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 12.00% | 5.00% | |||
Customer 4 [Member] | Accounts Receivable [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 21.00% | ||||
Customer 5 [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 6.00% | 11.00% | 3.00% | ||
Customer 6 [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 12.00% | 5.00% | 5.00% | ||
Customer 7 [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 10.00% | 9.00% | 6.00% | ||
Customer 8 [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk [Line Items] | |||||
Customer concentration | 10.00% | 4.00% |
Concenration of Risk - Schedule
Concenration of Risk - Schedule of Geographic Concentration of Risk in Revenue (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Italy | ||||
Concentration Risk [Line Items] | ||||
Geographic concentration | 44.00% | 6.00% | 23.00% | 11.00% |
China | ||||
Concentration Risk [Line Items] | ||||
Geographic concentration | 29.00% | 4.00% | 12.00% | 4.00% |
United States | ||||
Concentration Risk [Line Items] | ||||
Geographic concentration | 27.00% | 47.00% | 60.00% | 51.00% |
France | ||||
Concentration Risk [Line Items] | ||||
Geographic concentration | 15.00% | 14.00% | ||
Canada | ||||
Concentration Risk [Line Items] | ||||
Geographic concentration | 10.00% | 4.00% |
Concentration of Risk - Additio
Concentration of Risk - Additional Information (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Concentration Risk [Line Items] | ||
Assets | $ 23,898 | $ 10,682 |
Second Sight (Switzerland) Sarl [Member] | ||
Concentration Risk [Line Items] | ||
Assets | $ 1,800 | $ 1,500 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value on a Recurring Basis (Details) - Money Market Funds [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Money market funds | $ 18,266 | $ 4,156 |
Level 1 [Member] | ||
Money market funds | $ 18,266 | $ 4,156 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value Disclosures [Abstract] | ||
Deposit account | $ 0.1 | $ 0.2 |
Selected Balance Sheet Detail -
Selected Balance Sheet Detail - Schedule of Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ||
Raw materials | $ 807 | $ 791 |
Work in process | 1,854 | 3,055 |
Finished goods | 2,174 | 2,089 |
Inventories, gross | 4,835 | 5,935 |
Allowance for excess and obsolete inventory and impairment charge | (3,571) | (2,685) |
Inventories, net | $ 1,264 | $ 3,250 |
Selected Balance Sheet Detail_2
Selected Balance Sheet Detail - Additional Information (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Product Information [Line Items] | |
Operating lease, renewal term | 5 years |
Incremental borrowing rate | 10.00% |
Argus II Product [Member] | |
Product Information [Line Items] | |
Impairment charge | $ 2.6 |
Selected Balance Sheet Detail_3
Selected Balance Sheet Detail - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | $ 4,675 | $ 4,282 |
Accumulated depreciation and amortization | (3,550) | (3,257) |
Property and equipment, net | 1,125 | 1,025 |
Laboratory Equipment [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | 2,723 | 2,482 |
Computer Hardware and Software [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | 1,590 | 1,456 |
Leasehold Improvements [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | 304 | 298 |
Furniture, Fixtures and Equipment [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | $ 58 | $ 46 |
Selected Balance Sheet Detail_4
Selected Balance Sheet Detail - Schedule of Contract Liabilities (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Revenue From Contract With Customer [Abstract] | |
Beginning balance as of December 31, 2018 | $ 167 |
Consideration received in advance of revenue recognition | 387 |
Ending balance as of September 30, 2019 | $ 554 |
Selected Balance Sheet Detail_5
Selected Balance Sheet Detail - Schedule of Allowance for Doubtful Accounts (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |
Beginning balance as of December 31, 2018 | $ 181 |
Write-offs | (64) |
Ending balance as of September 30, 2019 | $ 117 |
Selected Balance Sheet Detail_6
Selected Balance Sheet Detail - Schedule of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Jan. 01, 2019 |
Assets | ||
Non-current assets, Right-of-use assets | $ 2,399 | $ 2,600 |
Liabilities | ||
Current, Current operating lease liabilities | 228 | |
Long term, Long term operating lease liabilities | $ 2,427 |
Selected Balance Sheet Detail_7
Selected Balance Sheet Detail - Schedule of Lease Costs (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($) | |
Lease expense: | ||
Operating lease expense | $ 123 | $ 370 |
Total lease expense | $ 123 | 370 |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash flows from operating leases | $ 357 | |
For operating lease: | ||
Weighted average remaining lease term (in years) | 7 years 3 months 18 days | 7 years 3 months 18 days |
Weighted average discount rate | 10.00% | 10.00% |
Selected Balance Sheet Detail_8
Selected Balance Sheet Detail -Schedule of Minimum Future Payments and Corresponding Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Jan. 01, 2019 |
Operating Discounted Lease Liabilities Payments Due [Abstract] | ||
2019 (remaining three months) | $ 53 | |
2020 | 237 | |
2021 | 278 | |
2022 | 322 | |
2023 | 352 | |
Thereafter | 1,413 | |
Total | 2,655 | $ 2,800 |
Operating Lease Liabilities, Payments Due [Abstract] | ||
2019 (remaining three months) | 120 | |
2020 | 491 | |
2021 | 505 | |
2022 | 521 | |
2023 | 516 | |
Thereafter | 1,704 | |
Total | $ 3,857 |
Equity Securities - Additional
Equity Securities - Additional Information (Details) - $ / shares | Sep. 30, 2019 | Jun. 04, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Equity [Abstract] | ||||
Common stock, no par value (in dollars per share) | ||||
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 | 200,000,000 | 300,000,000 |
Equity Securities - Anti-diluti
Equity Securities - Anti-dilutive Securities (Details) - shares shares in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Anti-dilutive securities (in shares) | 71,885 | 22,268 |
Underwriter's With Initial Public Offering | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Anti-dilutive securities (in shares) | 802 | 802 |
Warrants Issued in Connection With March 2017 Rights Offering | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Anti-dilutive securities (in shares) | 13,647 | 13,647 |
Warrants Issued in Connection With February 2019 Rights Offering | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Anti-dilutive securities (in shares) | 47,812 | |
Common Stock Options | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Anti-dilutive securities (in shares) | 8,680 | 7,581 |
Restricted Stock Units (RSUs) | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Anti-dilutive securities (in shares) | 488 | 47 |
Employee Stock Purchase Plan | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Anti-dilutive securities (in shares) | 456 | 191 |
Warrants - Additional Informati
Warrants - Additional Information (Details) $ / shares in Units, $ in Millions | Feb. 15, 2019shares | Sep. 30, 2019USD ($)$ / shares | Feb. 28, 2019$ / sharesshares | Feb. 22, 2019$ / shares | Dec. 31, 2018$ / shares |
Risk Free Interest Rate | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 0.0249 | ||||
Expected Volatility [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 0.82 | ||||
Expected Lives [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 5 years 29 days | ||||
Dividend Yield [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 0 | ||||
Common Stock [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Warrants exercise price | $ 2.94 | ||||
Share price | 0.47 | ||||
Warrant | |||||
Class Of Warrant Or Right [Line Items] | |||||
Warrants exercise price | $ 1.60 | $ 2.01 | |||
Description for redemption of warrants | the warrants are redeemable on 30 days’ notice (i) if, after March 14, 2019, the shares of the Company’s common stock are trading at $2.94 for 15 consecutive trading days and (ii) if all of the independent directors vote in favor of redeeming the warrants. Holders may be able to sell or exercise warrants prior to any announced redemption date and the Company will redeem outstanding warrants not exercised by the announced redemption date for a nominal amount of $0.01 per Warrant. | ||||
Class of warrant or right outstanding redemption price of warrants or rights | $ 0.01 | ||||
Share price | $ 0.25 | ||||
March 2017 Warrants [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Number of warrants issued | shares | 13,647,286 | ||||
Adjustment to additional paid-in capital and accumulated deficit | $ | $ 1.6 | ||||
March 2017 Warrants Before Extension [Member] | Risk Free Interest Rate | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 2.50 | ||||
March 2017 Warrants Before Extension [Member] | Expected Volatility [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 81 | ||||
March 2017 Warrants Before Extension [Member] | Expected Lives [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 3 years 29 days | ||||
March 2017 Warrants Before Extension [Member] | Dividend Yield [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 0 | ||||
March 2017 Warrants After Extension [Member] | Risk Free Interest Rate | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 2.49 | ||||
March 2017 Warrants After Extension [Member] | Expected Volatility [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 82 | ||||
March 2017 Warrants After Extension [Member] | Expected Lives [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 5 years 29 days | ||||
March 2017 Warrants After Extension [Member] | Dividend Yield [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Alternative investment, measurement input | 0 | ||||
Right Offering [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Warrants to purchase shares of common stock | shares | 47,812,371 | ||||
Warrants exercise price | $ 1.47 | $ 1.47 | |||
Share price | $ 0.724 | ||||
Right Offering [Member] | March 2017 Warrants [Member] | |||||
Class Of Warrant Or Right [Line Items] | |||||
Term of warrants | 2 years |
Warrants - Summary of Warrants
Warrants - Summary of Warrants Activity (Details) - Warrant - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Class of Warrant or Right, Outstanding [Roll Forward] | ||
Outstanding at beginning | 14,449,000 | |
Issued | 47,812,000 | |
Outstanding at ending | 62,261,000 | 14,449,000 |
Exercisable at ending | 62,261,000 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights [Roll Forward] | ||
Outstanding at beginning | $ 2.01 | |
Issued | 1.47 | |
Outstanding at ending | 1.60 | $ 2.01 |
Exercisable at ending | $ 1.60 | |
Class of Warrant or Right, Weighted Average Remaining Contractual Life of Warrants or Rights [Roll Forward] | ||
Outstanding at ending | 4 years 4 months 24 days | 3 years 1 month 6 days |
Exercisable at ending | 4 years 4 months 24 days |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Stock Option Activity (Details) - 2011 Equity Incentive Plan - Employee Stock Option - $ / shares shares in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Options outstanding, number of shares (in shares) | 7,120 | |
Granted, number of shares (in shares) | 2,600 | |
Forfeited or expired, number of shares (in shares) | (1,040) | |
Options outstanding, number of shares (in shares) | 8,680 | 7,120 |
Options exercisable, number of shares (in shares) | 4,385 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 3.83 | |
Granted, weighted average exercise price (in dollars per share) | 0.77 | |
Forfeited or expired, weighted average exercise price (in dollars per share) | 2.89 | |
Options outstanding, weighted average exercise price (in dollars per share) | 3.03 | $ 3.83 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 4.62 | |
Options outstanding, weighted average remaining contractual life (Year) | 7 years 3 months 10 days | 6 years 9 months 21 days |
Options exercisable, weighted average remaining contractual life (Year) | 5 years 10 months 17 days |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Details) | 9 Months Ended |
Sep. 30, 2019USD ($)$ / sharesshares | |
Restricted Stock Units (RSUs) | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 4 months 20 days |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.75 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ | $ 300,000 |
Awarded, number of awards (in shares) | shares | 526,500 |
Fair value of RSUs awarded | $ | $ 400,000 |
2011 Equity Incentive Plan | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Intrinsic value of stock options exercisable | $ | 14,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | $ 3,200,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 6 months 3 days |
2011 Equity Incentive Plan | Certain Employees and Directors | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 2,600,042 |
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 | $ | $ 1,300,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 72.00% |
2011 Equity Incentive Plan | Certain Employees and Directors | Minimum | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.69 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.44 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years 6 months |
2011 Equity Incentive Plan | Certain Employees and Directors | Maximum | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.65 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 6 years 29 days |
2011 Equity Incentive Plan | Employee Stock Option | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 2,600,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.77 |
2011 Equity Incentive Plan | Employee Stock Option | Certain Employees and Directors | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
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 | Employee Stock Option | Certain Employees and Directors | Minimum | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.63% |
2011 Equity Incentive Plan | Employee Stock Option | Certain Employees and Directors | Maximum | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.63% |
2011 Equity Incentive Plan | Director Compensation Option | Director | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year |
The 2015 Employee Stock Purchase Plan | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 2,050,000 |
Stock-Based Compensation - Su_2
Stock-Based Compensation - Summary of Restricted Stock Unit (RSU) Activity (Details) - Restricted Stock Units (RSUs) | 9 Months Ended |
Sep. 30, 2019$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Outstanding, number of awards (in shares) | shares | 35,000 |
Awarded, number of awards (in shares) | shares | 526,500 |
Vested and released (in shares) | shares | (74,000) |
Outstanding, number of awards (in shares) | shares | 488,000 |
Outstanding, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 12.43 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | 0.75 |
Vested and released, weighted average grant date fair value per share (in dollars per share) | $ / shares | 6.51 |
Outstanding, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 0.74 |
Stock-based Compensation - Stoc
Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Allocated share-based compensation expense | $ 686 | $ 877 | $ 2,443 | $ 2,789 |
Cost of Sales | ||||
Allocated share-based compensation expense | 43 | 74 | 133 | 201 |
Research and Development | ||||
Allocated share-based compensation expense | 119 | 110 | 440 | 321 |
Clinical and Regulatory | ||||
Allocated share-based compensation expense | 19 | 19 | 84 | 122 |
Selling and Marketing | ||||
Allocated share-based compensation expense | 118 | 165 | 379 | 380 |
General and Administrative | ||||
Allocated share-based compensation expense | $ 387 | $ 509 | $ 1,407 | $ 1,765 |