Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 28, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | PROTEON THERAPEUTICS INC | |
Entity Central Index Key | 0001359931 | |
Trading Symbol | prto | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 19,585,394 | |
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 | |
Title of 12(b) Security | Common Stock |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 9,349,000 | $ 19,371,000 |
Restricted cash | 22,000 | |
Available-for-sale investments | 2,496,000 | |
Prepaid expenses and other current assets | 277,000 | 1,369,000 |
Total current assets | 9,648,000 | 23,236,000 |
Property and equipment, net | 0 | 263,000 |
Restricted cash | 22,000 | |
Total assets | 9,648,000 | 23,521,000 |
Current liabilities: | ||
Accounts payable | 394,000 | 441,000 |
Accrued expenses | 1,219,000 | 2,637,000 |
Total current liabilities | 1,613,000 | 3,078,000 |
Total liabilities | 1,613,000 | 3,078,000 |
Commitments and contingencies (Note 5) | ||
Common stock, $0.001 par value, 100,000,000 shares authorized at September 30, 2019 and December 31, 2018; 19,585,394 and 19,243,651 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively | 19,000 | 19,000 |
Additional paid-in capital | 210,683,000 | 209,366,000 |
Accumulated deficit | (223,852,000) | (210,470,000) |
Accumulated other comprehensive income | 2,000 | 5,000 |
Total stockholders’ equity | 8,035,000 | 20,443,000 |
Total liabilities and stockholders’ equity | 9,648,000 | 23,521,000 |
Series A Convertible Preferred Stock [Member] | ||
Current liabilities: | ||
Preferred stock, $0.001 par value per share; 10,000,000 shares authorized at September 30, 2019 and December 31, 2018: Series A convertible preferred stock 22,000 shares authorized at September 30, 2019 and December 31, 2018; 21,660 and 22,000 issued and outstanding at September 30, 2019 and at December 31, 2018, respectively | $ 21,183,000 | $ 21,523,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 19,585,394 | 19,243,651 |
Common stock, shares outstanding (in shares) | 19,585,394 | 19,243,651 |
Series A Convertible Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 22,000 | 22,000 |
Preferred stock, shares issued (in shares) | 21,660 | 22,000 |
Preferred stock, shares outstanding (in shares) | 21,660 | 22,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Operating expenses: | ||||
Research and development | $ 206 | $ 2,354 | $ 6,374 | $ 9,185 |
General and administrative | 1,385 | 2,268 | 7,240 | 6,802 |
Total operating expenses | 1,591 | 4,622 | 13,614 | 15,987 |
Loss from operations | (1,591) | (4,622) | (13,614) | (15,987) |
Other income: | ||||
Investment income | 53 | 113 | 231 | 311 |
Other income (expense), net | 2 | (1) | 1 | 206 |
Total other income | 55 | 112 | 232 | 517 |
Net loss | (1,536) | (4,510) | (13,382) | (15,470) |
Foreign currency translation adjustment | (2) | (3) | (1) | |
Unrealized gain on available-for-sale investments | 3 | 19 | ||
Comprehensive loss | (1,538) | (4,507) | (13,385) | (15,452) |
Reconciliation of net loss to net loss attributable to common stockholders: | ||||
Net loss | (1,536) | (4,510) | (13,382) | (15,470) |
Net loss attributable to common stockholders | $ (1,536) | $ (4,510) | $ (13,382) | $ (15,470) |
Net loss per share attributable to common stockholders - basic and diluted (in dollars per share) | $ (0.08) | $ (0.25) | $ (0.69) | $ (0.87) |
Weighted-average common shares outstanding used in net loss per share attributable to common stockholders - basic and diluted (in shares) | 19,585,394 | 17,824,186 | 19,476,487 | 17,725,095 |
Included in operating expenses, above, are the following amounts for non-cash stock-based compensation expense: | ||||
Allocated share-based compensation | $ 96 | $ 904 | $ 977 | $ 2,647 |
Research and Development Expense [Member] | ||||
Included in operating expenses, above, are the following amounts for non-cash stock-based compensation expense: | ||||
Allocated share-based compensation | (26) | 298 | 233 | 877 |
General and Administrative Expense [Member] | ||||
Included in operating expenses, above, are the following amounts for non-cash stock-based compensation expense: | ||||
Allocated share-based compensation | $ 122 | $ 606 | $ 744 | $ 1,770 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member]Series A Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 22,000 | 17,674,729 | ||||
Balance at Dec. 31, 2017 | $ 21,523 | $ 18 | $ 202,953 | $ (189,741) | $ (14) | $ 34,739 |
Stock-based compensation expense | 821 | 821 | ||||
Other comprehensive gain/(loss) | 10 | 10 | ||||
Net loss | (6,081) | (6,081) | ||||
Issuance of common stock upon ESPP purchase | ||||||
Balance (in shares) at Mar. 31, 2018 | 22,000 | 17,674,729 | ||||
Balance at Mar. 31, 2018 | $ 21,523 | $ 18 | 203,774 | (195,822) | (4) | 29,489 |
Balance (in shares) at Dec. 31, 2017 | 22,000 | 17,674,729 | ||||
Balance at Dec. 31, 2017 | $ 21,523 | $ 18 | 202,953 | (189,741) | (14) | 34,739 |
Net loss | (15,470) | |||||
Balance (in shares) at Sep. 30, 2018 | 22,000 | 19,221,292 | ||||
Balance at Sep. 30, 2018 | $ 21,523 | $ 19 | 208,536 | (205,211) | 4 | 24,871 |
Balance (in shares) at Mar. 31, 2018 | 22,000 | 17,674,729 | ||||
Balance at Mar. 31, 2018 | $ 21,523 | $ 18 | 203,774 | (195,822) | (4) | 29,489 |
Stock-based compensation expense | 922 | 922 | ||||
Other comprehensive gain/(loss) | 5 | 5 | ||||
Net loss | (4,879) | (4,879) | ||||
Issuance of common stock upon ESPP purchase | 84 | 84 | ||||
Issuance of common stock upon ESPP purchase (in shares) | 51,984 | |||||
Balance (in shares) at Jun. 30, 2018 | 22,000 | 17,726,713 | ||||
Balance at Jun. 30, 2018 | $ 21,523 | $ 18 | 204,780 | (200,701) | 1 | 25,621 |
Stock-based compensation expense | 904 | 904 | ||||
Other comprehensive gain/(loss) | 3 | 3 | ||||
Net loss | (4,510) | (4,510) | ||||
Issuance of common stock upon ESPP purchase | ||||||
Issuance of common stock upon ESPP purchase (in shares) | ||||||
Issuance of common stock, net of issuance costs (in shares) | 1,494,579 | |||||
Issuance of common stock, net of issuance costs | $ 1 | 2,852 | 2,853 | |||
Balance (in shares) at Sep. 30, 2018 | 22,000 | 19,221,292 | ||||
Balance at Sep. 30, 2018 | $ 21,523 | $ 19 | 208,536 | (205,211) | 4 | 24,871 |
Balance (in shares) at Dec. 31, 2018 | 22,000 | 19,243,651 | ||||
Balance at Dec. 31, 2018 | $ 21,523 | $ 19 | 209,366 | (210,470) | 5 | 20,443 |
Conversion of Series A convertible preferred stock into Common Stock (in shares) | (340) | |||||
Conversion of Series A convertible preferred stock into Common Stock | $ (340) | |||||
Conversion of Series A convertible preferred stock into Common Stock (in shares) | 341,743 | |||||
Conversion of Series A convertible preferred stock into Common Stock | 340 | |||||
Stock-based compensation expense | 780 | 780 | ||||
Other comprehensive gain/(loss) | (2) | (2) | ||||
Net loss | (6,531) | (6,531) | ||||
Balance (in shares) at Mar. 31, 2019 | 21,660 | 19,585,394 | ||||
Balance at Mar. 31, 2019 | $ 21,183 | $ 19 | 210,486 | (217,001) | 3 | 14,690 |
Balance (in shares) at Dec. 31, 2018 | 22,000 | 19,243,651 | ||||
Balance at Dec. 31, 2018 | $ 21,523 | $ 19 | 209,366 | (210,470) | 5 | 20,443 |
Net loss | (13,382) | |||||
Balance (in shares) at Sep. 30, 2019 | 21,660 | 19,585,394 | ||||
Balance at Sep. 30, 2019 | $ 21,183 | $ 19 | 210,683 | (223,852) | 2 | 8,035 |
Balance (in shares) at Mar. 31, 2019 | 21,660 | 19,585,394 | ||||
Balance at Mar. 31, 2019 | $ 21,183 | $ 19 | 210,486 | (217,001) | 3 | 14,690 |
Conversion of Series A convertible preferred stock into Common Stock | ||||||
Conversion of Series A convertible preferred stock into Common Stock | ||||||
Stock-based compensation expense | 101 | 101 | ||||
Other comprehensive gain/(loss) | 1 | 1 | ||||
Net loss | (5,315) | (5,315) | ||||
Balance (in shares) at Jun. 30, 2019 | 21,660 | 19,585,394 | ||||
Balance at Jun. 30, 2019 | $ 21,183 | $ 19 | 210,587 | (222,316) | 4 | 9,477 |
Conversion of Series A convertible preferred stock into Common Stock | ||||||
Conversion of Series A convertible preferred stock into Common Stock | ||||||
Stock-based compensation expense | 96 | 96 | ||||
Other comprehensive gain/(loss) | (2) | (2) | ||||
Net loss | (1,536) | (1,536) | ||||
Balance (in shares) at Sep. 30, 2019 | 21,660 | 19,585,394 | ||||
Balance at Sep. 30, 2019 | $ 21,183 | $ 19 | $ 210,683 | $ (223,852) | $ 2 | $ 8,035 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Operating activities | ||
Net loss | $ (13,382,000) | $ (15,470,000) |
Reconciliation of net loss to net cash used in operating activities: | ||
Depreciation | 279,000 | 83,000 |
Amortization of discount on available-for-sale securities | (4,000) | (35,000) |
Foreign currency remeasurement loss | (3,000) | (25,000) |
Stock-based compensation | 977,000 | 2,647,000 |
Changes in: | ||
Prepaid expenses and other assets | 1,082,000 | 589,000 |
Operating lease right-of-use asset | 200,000 | |
Interest receivable | 10,000 | (3,000) |
Accounts payable and accrued expenses | (1,465,000) | (6,706,000) |
Operating lease liability | (200,000) | |
Net cash used in operating activities | (12,506,000) | (18,920,000) |
Investing activities | ||
Purchases of available-for-sale investments | (12,951,000) | |
Proceeds from maturities of available-for-sale investments | 2,500,000 | 23,990,000 |
Proceeds from sale of available-for-sale investments | 1,999,000 | |
Purchase of property and equipment | (16,000) | (24,000) |
Net cash provided by investing activities | 2,484,000 | 13,014,000 |
Financing activities | ||
Proceeds from issuance of common stock, net of issuance costs | 2,853,000 | |
Proceeds from issuance of common stock under ESPP | 84,000 | |
Net cash provided by financing activities | 2,937,000 | |
Effect of exchange rate changes on cash | 24,000 | |
Decrease in cash, cash equivalents and restricted cash | (10,022,000) | (2,945,000) |
Cash, cash equivalents and restricted cash, beginning of period | 19,393,000 | 21,192,000 |
Cash, cash equivalents and restricted cash, end of period | $ 9,371,000 | $ 18,247,000 |
Note 1 - Organization and Opera
Note 1 - Organization and Operations | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Organization and Operations The Company Proteon Therapeutics, Inc. (the “Company”) is a biopharmaceutical company that has historically focused on the development of novel, first June 2001 March 24, 2006. On March 28, 2019, second 3 2, not p=0.328 p=0.932 2 second two 3 30 2 March 28, 2019, not April 15, 2019, may not September 23, 2019, September 30, 2019, one $2.9 three June 30, 2019. three June 30, 2019. third Liquidity and Going Concern As of September 30, 2019, $9.3 2020 1 1, no may The Company had an accumulated deficit of $223.9 September 30, 2019. second 3 2, not These conditions raise substantial doubt about its ability to continue as a going concern within one no Pursuant to the requirements of Accounting Standards Codification (ASC) 205 40, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern one not not 1 one 2 one Under ASC 2015 40, none 10 not none one The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The financial statements do not Merger Agreement On September 23, 2019, Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of ArTara common stock outstanding immediately prior to the Effective Time (excluding certain shares to be canceled pursuant to the Merger Agreement and shares held by stockholders who have exercised and perfected appraisal rights will be converted into the right to receive a number of shares of the Company’s common stock equal to the exchange ratio, as more fully described below. The Merger is intended to qualify for U.S. federal income tax purposes as a reorganization under the provisions of Section 368 1986, As promptly as practicable after the date of the Merger Agreement (but in no 50 4 · the issuance of shares of the Company’s common stock to ArTara's stockholders in connection with the transactions contemplated by the Merger Agreement and shares of the Company’s capital stock to the institutional investors in the Private Placement, pursuant to The Nasdaq Stock Market LLC (“Nasdaq”) rules; · the amendment of the Company’s certificate of incorporation (i) to effect immediately prior to the closing of the Merger a reverse split of all outstanding shares of the Company’s common stock at a reverse stock split ratio of one 30 50 9.985% · an amendment to the Company’s Amended and Restated 2014 not 15.2% The consummation of the Merger is also subject to the satisfaction or waiver of certain conditions, including, among other things, (i) approval by the Company’s stockholders and ArTara’s stockholders (other than with respect to the EIP Amendment), (ii) Nasdaq approval of the listing of the shares to be issued to ArTara equity holders in connection with the consummation of the Merger, (iii) satisfaction of all conditions precedent to the closing of the Private Placement (other than the consummation of the Merger and appointment of certain board members), (iv) absence of a material adverse effect since the date of the Merger Agreement, (v) the accuracy of the representations and warranties, subject to material adverse effect qualifications, (vi) compliance by the parties with their respective covenants in all material respects, (vii) the Subscription Agreement (as defined below) being in full force and effect and no $40.0 $0 The Merger Agreement contains certain termination rights for both the Company and ArTara, and further provides that, upon termination of the Merger Agreement under specified circumstances, the Company may $0.8 may $0.8 may $0.4 In accordance with the terms of the Merger Agreement, (i) certain executive officers, directors and stockholders of ArTara (solely in their respective capacities as ArTara stockholders) have entered into support agreements with ArTara and the Company to vote all of their shares of ArTara capital stock in favor of adoption of the Merger Agreement and (ii) certain of the Company’s executive officers, directors and stockholders (solely in their respective capacities as the Company’s stockholders) have entered into support agreements with ArTara and the Company to vote all of their shares of the its common stock in favor of the Company’s Stockholder Matters. Concurrently with the execution of the Merger Agreement, the Company’s stockholder and certain officers, directors and stockholders of ArTara have entered into lock-up agreements pursuant to which they accepted certain restrictions on transfer of shares of its common stock for the 180 At the Effective Time, the Company will effect a name change and it is anticipated that trading for the Company’s securities will be listed on The Nasdaq Capital Market. Additionally, at the Effective Time, the Company’s board of directors is expected to consist of seven five one one Private Placement In connection with the Merger, on September 23, 2019, 27,200 1 $0.001 1 1,000 15,300 1 x Pursuant to the Subscription Agreement, the holders of Series 1 not Prior to the issuance of the Private Placement Shares, the Company intends to file a Certificate of Designation of Preferences, Rights and Limitations of Series 1 1 1,000 1 13 9.99% may not 19.99% Each share of Series 1 $10.00 1 one 1 The Private Placement is expected to close immediately following the consummation of the Merger. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Basis of Presentation, Principles of Consolidation and Use of Estimates The unaudited interim condensed consolidated financial statements of the Company included herein have been prepared, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements as of and for the year ended December 31, 2018 10 March 13, 2019. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited interim condensed consolidated financial statements contain all adjustments which are necessary to fairly present the Company’s financial position as of September 30, 2019, three nine September 30, 2019 2018, nine September 30, 2019 2018, nine September 30, 2019 2018. three nine September 30, 2019 not December 31, 2019, The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. These condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not may Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, available-for-sale investments, accounts payable, and accrued liabilities. The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. FASB ASC Topic 820, Fair Value Measurement and Disclosures not one three Level 1—Valuations Level 2—Valuations not Level 3—Valuations To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. Financial instruments measured at fair value on a recurring basis include cash equivalents and available-for-sale investments. There have been no three nine September 30, 2019 2018. no three nine September 30, 2019 2018. Net Income (Loss) per Share Attributable to Common Stockholders Basic net income (loss) per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to common stockholders by the weighted-average number of common equivalent shares outstanding for the period, including any dilutive effect from outstanding stock options and warrants using the treasury stock method. The Company follows the two two two not Recent Accounting Pronouncements In May 2014, 2014 09, 2014 09” January 1, 2018, 2017 09 March 31, 2018. not In February 2016, 2016 02, 842 2016 02” 2016 01 January 1, 2019 not 842, 842. 842 842, not As a result of the adoption of ASU 2016 02, January 1, 2019, $0.2 8%, $0.2 no January 1, 2019. not 2016 02. In August 2016, 2016 15, 230 2016 15” eight December 15, 2017, first 2018 2016 15 March 31, 2018. not In November 2016, 2016 18, December 15, 2017, first 2018. 2016 18 March 31, 2018. $22,000 $22,000 nine September 30, 2019 2018. In May 2017, No. 2017 09, 718 2017 09” 2017 09, not 2017 09 December 15, 2017. 2017 09 March 31, 2018. not In June 2018, No. 2018 07, 718 2018 07” 2018 07 2018 07 December 15, 2018. January 1, 2019. 2018 07 March 31, 2019. not March 31, 2018. |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 3. Fair Value Measurements Below is a summary of assets and liabilities measured at fair value (in thousands): As of September 30, 2019 Quoted Prices Significant Significant Total Assets Cash equivalents $ 9,101 $ - $ - $ 9,101 Total $ 9,101 $ - $ - $ 9,101 As of December 31, 2018 Quoted Prices Significant Significant Total Assets Cash equivalents $ 18,353 $ - $ - $ 18,353 Government securities 2,496 - - 2,496 Total $ 20,849 $ - $ - $ 20,849 As of September 30, 2019 December 31, 2018, 90 Available-for-sale securities at September 30, 2019 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Fair Value September 30, 2019 Government securities (Due within 1 year) $ - $ - $ - $ - $ - $ - $ - $ - December 31, 2018 Government securities (Due within 1 year) $ 2,496 $ - $ - $ 2,496 $ 2,496 $ - $ - $ 2,496 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment, Net | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. Property and Equipment, net Property and equipment, net consists of the following (in thousands): As of September 30, 2019 December 31, 2018 Computer equipment and software $ - $ 211 Furniture, fixtures, and other - 365 Laboratory equipment - 514 - 1,090 Accumulated depreciation - (827 ) Property and equipment, net $ - $ 263 Depreciation expense for the three nine September 30, 2019 $0.1 $0.3 three nine September 30, 2018 $22,000, $0.1 During the three March 31, 2019, March 31, 2019 March 31, 2019. September 30, 2019, no zero $0.2 three nine September 30, 2019. September 30, 2019, no |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 5. Commitments and Contingencies Operating Lease The Company’s facility is located in Waltham, Massachusetts. In July 2018, September 2019. three nine September 30, 2019, $0.1 $0.2 September 30, 2019, not September 30, 2019, no September 30, 2019, $22,000 30 September 30, 2019. Restricted cash related to facilities leases As of September 30, 2019 December 31, 2018, $22,000 September 30, 2019 December 31, 2018, $22,000 30 September 30, 2019. |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 6. Stock-based Compensation Stock Options The following table summarizes stock option activity for employees: Options Weighted- Weighted- Aggregate Outstanding at December 31, 2018 4,597,226 $ 5.12 7.4 $ 404 Granted 1,182,500 $ 2.66 Exercised - Forfeited (1) (2,606,289 ) $ 2.79 Expired (1) (2,400,590 ) $ 6.51 Outstanding at September 30, 2019 772,847 $ 4.89 7.3 $ - Exercisable at September 30, 2019 476,390 $ 6.13 6.4 $ - Vested or expected to vest at September 30, 2019 (2) 772,847 $ 4.89 7.3 $ - _____________________ ( 1 nine September 30, 2019 ( 2 September 30, 2019 September 30, 2019. Employee Stock Purchase Plan The 2014 140,500 January 1, January 1, 2015 January 1, 2024, one 281,000 January 1st. September 30, 2019, January 1, 2019 one December 31, 2018, 2014 192,436 tenth 2014 July 1, 2019 September 30, 2019. No three nine September 30, 2019. No 51,984 three nine September 30, 2018 2014 zero $68,000 2014 three nine September 30, 2019 $20,000 $0.1 2014 three nine September 30, 2018, Common Stock The Company has the following shares of Common Stock reserved for future issuance: September 30, December 31, 2019 2018 Conversion of Series A Preferred Stock 21,771,032 22,112,775 Stock-based compensation awards 6,818,214 5,163,957 Employee Stock Purchase Plan 118,120 118,120 Total 28,707,366 27,394,852 |
Note 7 - Income Taxes
Note 7 - Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 7. Income Taxes Deferred taxes are recognized for temporary differences between the basis of assets and liabilities for financial statement and income tax purposes. The Company has evaluated the positive and negative evidence bearing upon the Company’s ability to realize the benefit of its deferred tax assets. Based on the Company’s history of operating losses, the Company has concluded that it is more likely than not not no nine September 30, 2019 2018. |
Note 8 - Net Loss Per Share Att
Note 8 - Net Loss Per Share Attributable to Common Stockholders | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 8. Net Loss per Share Attributable to Common Stockholders As described in Note 2, three nine September 30, 2019 2018 no two The following Common Stock equivalents, presented on an as converted basis, were excluded from the calculation of net loss per share for the periods presented, due to their anti-dilutive effect: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Outstanding stock options 772,847 4,597,226 772,847 4,597,226 Outstanding ESPP shares - 26,642 - 26,642 Convertible preferred stock 21,771,032 22,112,775 21,771,032 22,112,775 22,543,879 26,736,643 22,543,879 26,736,643 |
Note 9 - Restructuring Charges
Note 9 - Restructuring Charges | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 9. In April 2019, “2019 2 March 28, 2019. December 31, 2019 ( 2019” $2.9 three June 30, 2019. Changes in the restructuring accrual during the first nine September 30, 2019 As of December 31, Charges/(Benefits) Payment/Other As of September 30, 2019 Restructuring Program Employee Severance $ - $ 2,854 $ (1,834 ) $ 1,020 Total $ - $ 2,854 $ (1,834 ) $ 1,020 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation, Principles of Consolidation and Use of Estimates The unaudited interim condensed consolidated financial statements of the Company included herein have been prepared, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements as of and for the year ended December 31, 2018 10 March 13, 2019. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited interim condensed consolidated financial statements contain all adjustments which are necessary to fairly present the Company’s financial position as of September 30, 2019, three nine September 30, 2019 2018, nine September 30, 2019 2018, nine September 30, 2019 2018. three nine September 30, 2019 not December 31, 2019, The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. These condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not may |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, available-for-sale investments, accounts payable, and accrued liabilities. The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. FASB ASC Topic 820, Fair Value Measurement and Disclosures not one three Level 1—Valuations Level 2—Valuations not Level 3—Valuations To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. Financial instruments measured at fair value on a recurring basis include cash equivalents and available-for-sale investments. There have been no three nine September 30, 2019 2018. no three nine September 30, 2019 2018. |
Earnings Per Share, Policy [Policy Text Block] | Net Income (Loss) per Share Attributable to Common Stockholders Basic net income (loss) per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to common stockholders by the weighted-average number of common equivalent shares outstanding for the period, including any dilutive effect from outstanding stock options and warrants using the treasury stock method. The Company follows the two two two not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In May 2014, 2014 09, 2014 09” January 1, 2018, 2017 09 March 31, 2018. not In February 2016, 2016 02, 842 2016 02” 2016 01 January 1, 2019 not 842, 842. 842 842, not As a result of the adoption of ASU 2016 02, January 1, 2019, $0.2 8%, $0.2 no January 1, 2019. not 2016 02. In August 2016, 2016 15, 230 2016 15” eight December 15, 2017, first 2018 2016 15 March 31, 2018. not In November 2016, 2016 18, December 15, 2017, first 2018. 2016 18 March 31, 2018. $22,000 $22,000 nine September 30, 2019 2018. In May 2017, No. 2017 09, 718 2017 09” 2017 09, not 2017 09 December 15, 2017. 2017 09 March 31, 2018. not In June 2018, No. 2018 07, 718 2018 07” 2018 07 2018 07 December 15, 2018. January 1, 2019. 2018 07 March 31, 2019. not March 31, 2018. |
Note 3 - Fair Value Measureme_2
Note 3 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | As of September 30, 2019 Quoted Prices Significant Significant Total Assets Cash equivalents $ 9,101 $ - $ - $ 9,101 Total $ 9,101 $ - $ - $ 9,101 As of December 31, 2018 Quoted Prices Significant Significant Total Assets Cash equivalents $ 18,353 $ - $ - $ 18,353 Government securities 2,496 - - 2,496 Total $ 20,849 $ - $ - $ 20,849 |
Available-for-sale Securities [Table Text Block] | Amortized Cost Unrealized Gains Unrealized Losses Fair Value September 30, 2019 Government securities (Due within 1 year) $ - $ - $ - $ - $ - $ - $ - $ - December 31, 2018 Government securities (Due within 1 year) $ 2,496 $ - $ - $ 2,496 $ 2,496 $ - $ - $ 2,496 |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of September 30, 2019 December 31, 2018 Computer equipment and software $ - $ 211 Furniture, fixtures, and other - 365 Laboratory equipment - 514 - 1,090 Accumulated depreciation - (827 ) Property and equipment, net $ - $ 263 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Options Weighted- Weighted- Aggregate Outstanding at December 31, 2018 4,597,226 $ 5.12 7.4 $ 404 Granted 1,182,500 $ 2.66 Exercised - Forfeited (1) (2,606,289 ) $ 2.79 Expired (1) (2,400,590 ) $ 6.51 Outstanding at September 30, 2019 772,847 $ 4.89 7.3 $ - Exercisable at September 30, 2019 476,390 $ 6.13 6.4 $ - Vested or expected to vest at September 30, 2019 (2) 772,847 $ 4.89 7.3 $ - |
Common Stock Reserved for Future Issuance [Table Text Block] | <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30,</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td> <td> </td> <td colspan="3" style="white-space: nowrap; text-align: center"> </td> <td> </td> <td colspan="3" style="white-space: nowrap; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Conversion of Series A Preferred Stock</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,771,032</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,112,775</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation awards</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,818,214</div></td> <td style="white-space: nowrap; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,163,957</div></td> <td style="white-space: nowrap; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Employee Stock Purchase Plan</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,120</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,120</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.25pt">Total</td> <td style="padding-bottom: 2.25pt"> </td> <td style="border-bottom: Black 2.25pt double; text-align: left"> </td> <td style="border-bottom: Black 2.25pt double; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,707,366</div></td> <td style="white-space: nowrap; border-bottom: Black 2.25pt double; text-align: left"> </td> <td style="padding-bottom: 2.25pt"> </td> <td style="border-bottom: Black 2.25pt double; text-align: left"> </td> <td style="border-bottom: Black 2.25pt double; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,394,852</div></td> <td style="white-space: nowrap; border-bottom: Black 2.25pt double; text-align: left"> </td> </tr> </table></div>" id="sjs-B5"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30,</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td> <td> </td> <td colspan="3" style="white-space: nowrap; text-align: center"> </td> <td> </td> <td colspan="3" style="white-space: nowrap; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Conversion of Series A Preferred Stock</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,771,032</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,112,775</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation awards</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,818,214</div></td> <td style="white-space: nowrap; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,163,957</div></td> <td style="white-space: nowrap; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Employee Stock Purchase Plan</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,120</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,120</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.25pt">Total</td> <td style="padding-bottom: 2.25pt"> </td> <td style="border-bottom: Black 2.25pt double; text-align: left"> </td> <td style="border-bottom: Black 2.25pt double; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,707,366</div></td> <td style="white-space: nowrap; border-bottom: Black 2.25pt double; text-align: left"> </td> <td style="padding-bottom: 2.25pt"> </td> <td style="border-bottom: Black 2.25pt double; text-align: left"> </td> <td style="border-bottom: Black 2.25pt double; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,394,852</div></td> <td style="white-space: nowrap; border-bottom: Black 2.25pt double; text-align: left"> </td> </tr> </table></div> |
Note 8 - Net Loss Per Share A_2
Note 8 - Net Loss Per Share Attributable to Common Stockholders (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Outstanding stock options 772,847 4,597,226 772,847 4,597,226 Outstanding ESPP shares - 26,642 - 26,642 Convertible preferred stock 21,771,032 22,112,775 21,771,032 22,112,775 22,543,879 26,736,643 22,543,879 26,736,643 |
Note 9 - Restructuring Charges
Note 9 - Restructuring Charges (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | As of December 31, Charges/(Benefits) Payment/Other As of September 30, 2019 Restructuring Program Employee Severance $ - $ 2,854 $ (1,834 ) $ 1,020 Total $ - $ 2,854 $ (1,834 ) $ 1,020 |
Note 1 - Organization and Ope_2
Note 1 - Organization and Operations (Details Textual) | Sep. 23, 2019USD ($)$ / sharesshares | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($)$ / shares | Dec. 31, 2018USD ($)$ / shares |
Entity Number of Employees | 1 | |||
Cash, Cash Equivalents, and Short-term Investments, Total | $ 9,300,000 | |||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (223,852,000) | $ (210,470,000) | ||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | ||
Merger Agreement with ArTara [Member] | ||||
Amendment of Certificate of Incorporation, Beneficial Ownership Cap | 9.985% | |||
Subscription Agreement, Minimum Commitment Amount | $ 40,000,000 | |||
Merger Consummation Conditions, Net Cash Required | 0 | |||
Business Combination, Termination Fee That May Be Required of Acquirer | 800,000 | |||
Business Combination, Termination Fee That May Be Required of Acquiree | 800,000 | |||
Business Combination, Maximum Reimbursement of the Other Party's Expenses By Either the Acquirer or Acquiree | $ 400,000 | |||
Period of Lock-out Agreement | 180 days | |||
Number of Directors Expected Following the Merger | 7 | |||
Number of Directors Expected Following the Merger, Number Designated By Acquiree | 5 | |||
Number of Directors Expected Following the Merger, Number Designated By Acquirer | 1 | |||
Number of Directors Expected Following the Merger, Chief Executive Officer of the Combined Company | 1 | |||
Merger Agreement with ArTara [Member] | Private Placement [Member] | Common Stock [Member] | ||||
Subscription Agreement, Maximum Number of Shares Agreed to Issue | shares | 15,300 | |||
Merger Agreement with ArTara [Member] | Private Placement [Member] | Series 1 Convertible Non-voting Preferred Stock [Member] | ||||
Subscription Agreement, Maximum Number of Shares Agreed to Issue | shares | 27,200 | |||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | |||
Subscription Agreement, Purchase Price of Shares Agreed to Issue, Multiple of Common Stock Purchase Price | 1,000 | |||
Convertible Preferred Stock, Shares Issued upon Conversion | shares | 1,000 | |||
Preferred Stock, Liquidation Preference Per Share | $ / shares | $ 10 | |||
Merger Agreement with ArTara [Member] | The 2014 Plan [Member] | ||||
Amendment of Compensation Plan, Increase in Shares Available Under Equity Incentive Plan, Threshold for Common Stock Reserved for Issuance, Percentage | 15.20% | |||
Merger Agreement with ArTara [Member] | Minimum [Member] | ||||
Amendment of Certificate of Incorporation, Reverse Stock Split to Occur, Ratio | 30 | |||
Merger Agreement with ArTara [Member] | Minimum [Member] | Private Placement [Member] | Series 1 Convertible Non-voting Preferred Stock [Member] | ||||
Conversion of Preferred Stock, Beneficial Ownership Threshold, Percentage | 9.99% | |||
Merger Agreement with ArTara [Member] | Maximum [Member] | ||||
Amendment of Certificate of Incorporation, Reverse Stock Split to Occur, Ratio | 50 | |||
Merger Agreement with ArTara [Member] | Maximum [Member] | Private Placement [Member] | Series 1 Convertible Non-voting Preferred Stock [Member] | ||||
Conversion of Preferred Stock, Beneficial Ownership Threshold, Percentage | 19.99% | |||
Forecast [Member] | ||||
Severance Costs | $ 2,900,000 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Jan. 01, 2019 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | $ (10,022,000) | $ (2,945,000) | |
Restricted Cash and Cash Equivalents, Total | 22,000 | 22,000 | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Liability, Current | $ 200,000 | ||
Operating Lease, Weighted Average Discount Rate, Percent | 8.00% | ||
Operating Lease, Right-of-Use Asset | $ 200,000 | ||
Accounting Standards Update 2016-18 [Member] | |||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | $ 22,000 | $ 22,000 |
Note 3 - Fair Value Measureme_3
Note 3 - Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Total | $ 9,101 | $ 20,849 |
Cash Equivalents [Member] | ||
Cash equivalents | 9,101 | 18,353 |
US Government Agencies Debt Securities [Member] | ||
Government securities | 2,496 | |
Fair Value, Inputs, Level 1 [Member] | ||
Total | 9,101 | 20,849 |
Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ||
Cash equivalents | 9,101 | 18,353 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Government securities | 2,496 | |
Fair Value, Inputs, Level 2 [Member] | ||
Total | ||
Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ||
Cash equivalents | ||
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Government securities | ||
Fair Value, Inputs, Level 3 [Member] | ||
Total | ||
Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ||
Cash equivalents | ||
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Government securities |
Note 3 - Fair Value Measureme_4
Note 3 - Fair Value Measurements - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Amortized Cost | $ 2,496 | |
Unrealized Gains | ||
Unrealized Losses | ||
Fair Value | 2,496 | |
US Government Agencies Debt Securities [Member] | ||
Amortized Cost | 2,496 | |
Unrealized Gains | ||
Unrealized Losses | ||
Fair Value | $ 2,496 |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment, Net (Details Textual) - USD ($) | Jul. 01, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 |
Depreciation, Total | $ 100,000 | $ 22,000 | $ 279,000 | $ 83,000 | ||
Property, Plant and Equipment, Net, Ending Balance | $ 0 | 0 | $ 263,000 | |||
Laboratory Equipment [Member] | Research and Development Expense [Member] | ||||||
Impairment of Long-Lived Assets Held-for-use | $ 0 | $ 200,000 |
Note 4 - Property and Equipme_4
Note 4 - Property and Equipment, Net - Summary of Property and Equipment (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Property and equipment | $ 1,090,000 | |
Accumulated depreciation | (827,000) | |
Property and equipment, net | 0 | 263,000 |
Computer Equipment and Software [Member] | ||
Property and equipment | 211,000 | |
Furniture and Fixtures [Member] | ||
Property and equipment | 365,000 | |
Laboratory Equipment [Member] | ||
Property and equipment | $ 514,000 |
Note 5 - Commitments and Cont_2
Note 5 - Commitments and Contingencies (Details Textual) a in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($) | Oct. 31, 2019a | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Operating Lease, Expense | $ 100,000 | $ 200,000 | |||
Security Deposit | $ 22,000 | ||||
Letters of Credit Outstanding, Amount | 22,000 | 22,000 | $ 22,000 | ||
Loans Pledged as Collateral | $ 22,000 | $ 22,000 | $ 22,000 | ||
Subsequent Event [Member] | |||||
Area of Real Estate Property | a | 0 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation (Details Textual) - USD ($) | Jan. 01, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2014 |
Share-based Payment Arrangement, Expense | $ 96,000 | $ 904,000 | $ 977,000 | $ 2,647,000 | |||
The 2014 Employee Stock Purchase Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 0 | 51,984 | |||||
Share-based Payment Arrangement, Expense | $ 0 | $ 20,000 | $ 68,000 | $ 100,000 | |||
The 2014 Employee Stock Purchase Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 192,436 | 192,436 | 140,500 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Annual Additional Shares, Percentage | 1.00% | 1.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Additional Shares Authorizable | 281,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 0 | 0 |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation - Stock Option Activity for Employees and Non-employees (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | ||
Options Outstanding, Beginning Balance (in shares) | 4,597,226 | ||
Options Outstanding, Weighted Average Exercise Price, Beginning Balance (in dollars per share) | $ 5.12 | ||
Options Outstanding, Weighted-average Remaining Contractual Term (Year) | 7 years 109 days | 7 years 146 days | |
Options Outstanding, Aggregate Intrinsic Value | $ 404 | ||
Options Granted (in shares) | 1,182,500 | ||
Options Granted, Weighted Average Exercise Price (in dollars per share) | $ 2.66 | ||
Options Exercised (in shares) | |||
Options Exercised, Weighted Average Exercise Price (in dollars per share) | |||
Options Forfeited (in shares) | [1] | (2,606,289) | |
Options Forfeited, Weighted Average Exercise Price (in dollars per share) | [1] | $ 2.79 | |
Options Expired (in shares) | [1] | (2,400,590) | |
Options Expired, Weighted Average Exercise Price (in dollars per share) | [1] | $ 6.51 | |
Options Outstanding, Ending Balance (in shares) | 772,847 | 4,597,226 | |
Options Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 4.89 | $ 5.12 | |
Options Exercisable (in shares) | 476,390 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 6.13 | ||
Options Exercisable, Weighted-average Remaining Contractual Term (Year) | 6 years 146 days | ||
Options Exercisable, Aggregate Intrinsic Value | |||
Options Vested or Expected to Vest (in shares) | [2] | 772,847 | |
Options Vested or Expected to Vest, Weighted Average Exercise Price (in dollars per share) | [2] | $ 4.89 | |
Options Vested or Expected to Vest, Weighted-average Remaining Contractual Term (Year) | [2] | 7 years 109 days | |
Options Vested or Expected to Vest, Aggregate Intrinsic Value | [2] | ||
[1] | Represents the number of options cancelled during the nine months ended September 30, 2019 as a result of employees that were terminated due to the reduction in force. | ||
[2] | Represents the number of vested options at September 30, 2019 plus the number of unvested options expected to vest based on the unvested options outstanding at September 30, 2019." |
Note 6 - Stock-based Compensa_5
Note 6 - Stock-based Compensation - Common Stock Reserved for Future Issuance (Details) - shares | Sep. 30, 2019 | Dec. 31, 2018 |
Reserved for future issuance (in shares) | 28,707,366 | 27,394,852 |
The 2014 Employee Stock Purchase Plan [Member] | ||
Reserved for future issuance (in shares) | 118,120 | 118,120 |
Performance Shares [Member] | ||
Reserved for future issuance (in shares) | 6,818,214 | 5,163,957 |
Conversion of Series A Preferred Stock to Common Stock [Member] | ||
Reserved for future issuance (in shares) | 21,771,032 | 22,112,775 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Note 8 - Net Loss Per Share A_3
Note 8 - Net Loss Per Share Attributable to Common Stockholders - Common Stock Equivalents Excluded From Calculation of Net Loss Per Share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Antidilutive Securities (in shares) | 22,543,879 | 26,736,643 | 22,543,879 | 26,736,643 |
Convertible Preferred Stock [Member] | ||||
Antidilutive Securities (in shares) | 21,771,032 | 22,112,775 | 21,771,032 | 22,112,775 |
Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities (in shares) | 772,847 | 4,597,226 | 772,847 | 4,597,226 |
Employee Stock Purchase Plan [Member] | ||||
Antidilutive Securities (in shares) | 26,642 | 26,642 |
Note 9 - Restructuring Charge_2
Note 9 - Restructuring Charges (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 9 Months Ended |
Dec. 31, 2019 | Sep. 30, 2019 | |
Restructuring Charges, Total | $ 2,854 | |
Forecast [Member] | ||
Restructuring Charges, Total | $ 2,900 |
Note 9 - Restructuring Charge_3
Note 9 - Restructuring Charges - Changes in the Restructuring Accrual (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Beginning balance | |
Charges/(Benefits) | 2,854 |
Payment/Other | (1,834) |
Ending balance | 1,020 |
Employee Severance [Member] | |
Beginning balance | |
Charges/(Benefits) | 2,854 |
Payment/Other | (1,834) |
Ending balance | $ 1,020 |