Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 01, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | ATHX | |
Entity Registrant Name | ATHERSYS, INC / NEW | |
Entity Central Index Key | 1,368,148 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 111,316,615 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 31,940 | $ 14,753 |
Accounts receivable | 1,766 | 598 |
Prepaid expenses and other | 1,156 | 929 |
Total current assets | 34,862 | 16,280 |
Equipment, net | 2,576 | 2,605 |
Deferred tax assets | 178 | 175 |
Total assets | 37,616 | 19,060 |
Current liabilities: | ||
Accounts payable | 6,618 | 4,761 |
Accrued compensation and related benefits | 605 | 1,190 |
Accrued clinical trial costs | 267 | 389 |
Accrued expenses | 407 | 535 |
Deferred revenue | 503 | |
Total current liabilities | 8,400 | 6,875 |
Warrant liabilities | 1,004 | |
Stockholders' equity: | ||
Preferred stock, at stated value; 10,000,000 shares authorized, and no shares issued and outstanding at March 31, 2017 and December 31, 2016 | ||
Common stock, $0.001 par value; 150,000,000 shares authorized, and 111,316,615 and 86,629,302 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively | 111 | 87 |
Additional paid-in capital | 353,125 | 329,373 |
Accumulated deficit | (324,020) | (318,279) |
Total stockholders' equity | 29,216 | 11,181 |
Total liabilities and stockholders' equity | $ 37,616 | $ 19,060 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 111,316,615 | 86,629,302 |
Common stock, shares outstanding | 111,316,615 | 86,629,302 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Revenues | ||
Contract revenue | $ 1,260 | $ 15,124 |
Grant revenue | 210 | 334 |
Total revenues | 1,470 | 15,458 |
Costs and expenses | ||
Research and development | 5,633 | 6,664 |
General and administrative | 2,071 | 2,014 |
Depreciation | 164 | 68 |
Total costs and expenses | 7,868 | 8,746 |
Income (loss) from operations | (6,398) | 6,712 |
Income (expense) from change in fair value of warrants, net | 728 | (2,181) |
Other income, net | 26 | 210 |
Net (loss) income before taxes | (5,644) | 4,741 |
Income tax benefit | 13 | 9 |
Net (loss) income and comprehensive (loss) income | $ (5,631) | $ 4,750 |
Net (loss) income per share - Basic and Diluted | $ (0.06) | $ 0.06 |
Weighted average shares outstanding - Basic | 102,047,062 | 83,781,114 |
Weighted average shares outstanding - Diluted | 102,047,062 | 83,865,607 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Operating activities | ||
Net (loss) income | $ (5,631) | $ 4,750 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||
Depreciation | 164 | 68 |
Gain from forgiveness of note payable | (190) | |
Stock-based compensation | 689 | 707 |
Change in fair value of warrant liabilities and other | (728) | 2,174 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (1,168) | (345) |
Prepaid expenses and other | (231) | 3 |
Accounts payable and accrued expenses | 1,022 | 400 |
Deferred revenue | 503 | (245) |
Net cash (used in) provided by operating activities | (5,380) | 7,322 |
Investing activities | ||
Purchases of equipment | (134) | (186) |
Net cash used in investing activities | (134) | (186) |
Financing activities | ||
Proceeds from issuance of common stock, net | 20,877 | 424 |
Shares retained for withholding tax payments on stock-based awards | (37) | (173) |
Proceeds from exercise of warrants | 1,861 | |
Net cash provided by financing activities | 22,701 | 251 |
Increase in cash and cash equivalents | 17,187 | 7,387 |
Cash and cash equivalents at beginning of the period | 14,753 | 23,027 |
Cash and cash equivalents at end of the period | $ 31,940 | $ 30,414 |
Background and Basis of Present
Background and Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Background and Basis of Presentation | 1. Background and Basis of Presentation We are an international biotechnology company that is focused primarily in the field of regenerative medicine and operate in one business segment. Our operations consist primarily of research and later-stage product development activities. We incurred losses since our inception in 1995 and had an accumulated deficit of $324 million at March 31, 2017. We will require substantial additional capital to continue our research and development programs, including progressing our clinical product candidates to commercialization and preparing for commercial-scale manufacturing. At March 31, 2017, we had available cash and cash equivalents of $31.9 million, and we believe that these funds, together with our existing operating plans, are sufficient to meet our obligations as they come due for a period of at least twelve months from the date of the issuance of these unaudited condensed consolidated financial statements. In the longer term, we will make use of available cash, but will have to continue to generate additional capital to meet our needs through new and existing collaborations and related milestones, grant-funding opportunities, deferring certain discretionary costs and staging certain development costs, as needed, and the sale of equity securities from time to time, including through our equity purchase agreement with Aspire Capital Fund LLC (“Aspire Capital”). The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K S-X. 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. Our critical accounting policies, estimates and assumptions are described in “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” which is included below in this Quarterly Report on Form 10-Q. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Standards | 2. Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting 2016-09”), 2016-09, In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) right-of-use In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09 2015-14, one-for-one 2014-09 |
Net (Loss) Income per Share
Net (Loss) Income per Share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Net (Loss) Income per Share | 3. Net (Loss) Income per Share Basic and diluted net (loss) income per share have been computed using the weighted-average number of shares of common stock outstanding during the period. The table below reconciles the net (loss) income and the number of shares used to calculate basic and diluted net (loss) income per share for the three-month periods ended March 31, 2017 and 2016, in thousands, except share and per share data. Three months ended March 31, 2017 2016 Numerator: Net (loss) income attributable to common stockholders - Basic and Diluted $ (5,631 ) $ 4,750 Denominator: Weighted-average shares outstanding - Basic 102,047,062 83,781,114 Potentially dilutive common shares outstanding: Stock-based awards — 84,493 Weighted-average shares used to calculate diluted net (loss) income per share 102,047,062 83,865,607 Basic and Dilutive (loss) income per share $ (0.06 ) $ 0.06 We have outstanding stock-based awards and had warrants that are not used in the calculation of diluted net (loss) income per share because to do so would be antidilutive. The following instruments were excluded from the calculation of diluted net (loss) income per share because their effects would be antidilutive: Three months ended March 31, 2017 2016 Stock - based awards 10,091,837 7,593,940 Warrants — 3,554,893 Total 10,091,837 11,148,833 |
Financial Instruments
Financial Instruments | 3 Months Ended |
Mar. 31, 2017 | |
Investments, All Other Investments [Abstract] | |
Financial Instruments | 4. Financial Instruments Fair Value Measurements We classify the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs for the asset or liability. At March 31, 2017, we had no financial assets or liabilities measured at fair value on a recurring basis. At December 31, 2016, we had warrant liabilities of $1,004,000 that represented Level 3 liabilities under the hierarchy. These warrants were exercised or expired in the first quarter of 2017. We review and reassess the fair value hierarchy classifications on a quarterly basis. Changes from one quarter to the next related to the observability of inputs in a fair value measurement may result in a reclassification between fair value hierarchy levels. There were no reclassifications for all periods presented. The estimated fair value of warrants accounted for as liabilities, representing a level 3 fair value measure, was determined on the issuance date and subsequently marked to market at each financial reporting date. We use the Black-Scholes valuation model to value the warrant liabilities at fair value. The fair value is estimated using the expected volatility based on our historical volatility and is determined using probability weighted-average assumptions, when appropriate. A roll-forward of fair value measurements using significant unobservable inputs (Level 3) for the warrant liabilities is as follows (in thousands): Three months ended Balance January 1, 2017 $ 1,004 Settlements from exercises (276 ) Gain included in income from change in fair value of warrants (728 ) Balance March 31, 2017 $ — Other In February 2016, a $190,000 loan and accrued interest related to regionally-funded preclinical work was forgiven according to its terms based on the achievement of certain milestones, and the forgiveness was recognized as other income. |
Certain Revenue Arrangements
Certain Revenue Arrangements | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Certain Revenue Arrangements | 5. Certain Revenue Arrangements Healios In January 2016, we entered into a license agreement (“Healios Agreement”) with HEALIOS K.K. (“Healios”) to develop and commercialize our MultiStem cell therapy for ischemic stroke in Japan and to provide Healios with access to our proprietary MAPC technology for use in its “organ bud” program, initially for transplantation to treat liver disease or dysfunction. Under the agreement, Healios obtained a right to expand the scope of the collaboration to include the exclusive rights to develop and commercialize MultiStem for the treatment of two additional indications in Japan, which include acute respiratory distress syndrome (“ARDS”) and another indication in the orthopedic area, and to include all indications for the “organ bud” program. Healios is developing and intends to commercialize the MultiStem product in Japan, and we are using commercially reasonable efforts to supply manufactured product to Healios for its clinical trial. In the event that we determine that we are not able to supply product at a defined price or a price otherwise agreeable to Healios, we may notify Healios and grant it a license to make the product solely for use in the licensed field in Japan. In January 2017, we signed a clinical trial supply agreement, which is consistent with the Healios Agreement, in preparation for delivering these planned manufacturing services for Healios’ clinical trial in Japan. Under the terms of the Healios Agreement, we received a nonrefundable, up-front For the ischemic stroke indication, we may also receive additional success-based development, regulatory approval and sales milestones aggregating up to $225 million. Such amounts are non-refundable non-creditable If Healios exercises the option to expand the collaboration to include ARDS and another indication in the orthopedic area, we would be entitled to receive royalties from product sales and success-based development, regulatory approval and sales milestones, as well as payments for product supply related to the additional indications covered by the option. For the “organ bud” product, we are entitled to receive a fractional royalty percentage on net sales of the “organ bud” products and payments for manufactured product supplied to Healios. Additionally, we have a right of first negotiation for commercialization of an “organ bud” product in North America, with such right expiring on the later of (i) the date five years from the effective date of the Healios Agreement and (ii) 30 days after authorization to initiate clinical studies on an “organ bud” product under the first investigational new drug application or equivalent in Japan, North America or the European Union. The Healios Agreement will expire automatically when there are no remaining intellectual property rights subject to the license. In the event that Healios does not move the program forward, the development and commercialization rights would revert to us. To determine the appropriate accounting for the license agreement, we evaluated the Healios Agreement and related facts and circumstances, focusing in particular on the rights and obligations of the arrangement. We determined that our obligations under the Healios Agreement represent multiple deliverables. For deliverables with standalone value, we account for these as separate units of accounting. We allocate the overall consideration of the arrangement that is fixed or determinable, excluding consideration that is contingent upon future deliverables, to the separate units of accounting based on estimated selling prices (as defined in ASC 605-25) Given Healios’ ability to sublicense under the Healios Agreement and its ability to conduct the ongoing development efforts, we concluded that the license had stand-alone value at the inception of the arrangement and would be treated as a separate unit of accounting, noting that there was no general right of return associated with the license. Further, the preclinical and clinical manufacturing services and certain near-term regulatory advisory services that will be provided to Healios under the Healios Agreement had been determined to have stand-alone value and considered separate units of accounting. We were unable to establish vendor-specific objective evidence of selling price or third-party evidence for either the license or the services, and thus, instead, allocated the arrangement consideration between the license and the services based on their relative selling prices using a best estimate of selling price (“BESP”). We developed the BESP of the license using a probability weighted, discounted cash flow analysis using the income approach, taking into consideration market assumptions including the estimated development and commercialization timeline, data regarding patient population, discount rate related to our industry, and probability of success using market data for both our industry and therapeutic field. We estimated the BESP of the manufacturing services and certain near-term regulatory advisory services using actual historical experience and best estimates of the cost of obtaining these services at arm’s length from a third-party provider, including an estimated mark-up. Other contingent deliverables that were not accounted for at the inception of the arrangement, and will not be accounted for until the contingency is resolved, included the potential expansion of the collaboration to include additional indications, and the milestones that are not substantive since they are dependent on the activities of Healios. Further, the Healios arrangement contemplates our providing manufacturing services for commercial product supply, the terms of which are not defined and are to be agreed upon in the future under a separate supply agreement. Upon the removal of the contingencies associated with each of the potential contingent deliverables, including the expansion fee, milestone payments and/or commercial product supply, we will reevaluate the overall arrangement, including the estimated selling prices and the allocation of the overall consideration of the arrangement, with any changes in estimates accounted for on a prospective basis. Other In January 2017, we received an option fee related to an agreement that was entered into in December 2016 with a global leader in the animal health business segment to evaluate our cell therapy technology for application in an animal health area. Under the terms of the agreement, we received the payment in exchange for an exclusive period to evaluate our cell therapy technology with an option to negotiate for a license for the development and commercialization of the technology for the animal health area. The option fee is recorded as deferred revenue at March 31, 2017 since the performance obligation of granting a license has not occurred. If the option is exercised, we will include the option fee in the overall consideration for the license arrangement, to be evaluated at that time. If the option is not exercised, the option fee will be recognized as revenue at that time since there will be no more performance obligations. Under our agreement with RTI Surgical, Inc. to develop and commercialize biologic implants using our technology for certain orthopedic applications in the bone graft substitutes market, we are eligible to receive cash payments upon the successful achievement of certain commercial milestones. The first commercial milestone was achieved in the first quarter of 2017 in the amount of $1.0 million, which we received in April 2017. In addition, we continue to receive tiered royalties on worldwide commercial sales of implants using our technologies based on a royalty rate starting in the mid-single mid-teens. |
Stock-based Compensation
Stock-based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Compensation | 6. Stock-based Compensation We have two incentive plans that authorized an aggregate of 21,500,000 shares of common stock for awards to employees, directors and consultants. These equity incentive plans authorize the issuance of equity-based compensation in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and units, and other stock-based awards. As of March 31, 2017 a total of 3,662,739 shares of common stock have been issued under our equity incentive plans. As of March 31, 2017, a total of 7,745,424 shares were available for issuance under our equity compensation plans and stock-based awards to purchase 10,091,837 shares of common stock were outstanding. For the three-month periods ended March 31, 2017 and 2016, stock-based compensation expense was approximately $689,000 and $707,000, respectively. At March 31, 2017, total unrecognized estimated compensation cost related to unvested stock-based awards was approximately $5.7 million, which is expected to be recognized by the end of 2020 using the straight-line method. |
Issuance of Common Stock
Issuance of Common Stock | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Issuance of Common Stock | 7. Issuance of Common Stock Equity Offering In February 2017, we completed a public offering generating net proceeds of approximately $20.9 million through the issuance of 22,772,300 shares of common stock at an offering price of $1.01 per share. Aspire Capital We currently have in place an equity purchase agreement with Aspire Capital that was entered into in December 2015 and provides that Aspire Capital is committed to purchase shares of our common stock up to an aggregate amount of $30.0 million over a three-year term, subject to our election to sell any such shares. We had previously entered into similar equity purchase agreements with Aspire Capital in 2011 and 2013 with purchase commitments of $20 million and $25 million, respectively. We filed a registration statement for the resale of 16,600,000 shares of common stock in connection with the equity facility. We sold no shares to Aspire Capital during the first quarter of 2017 and during the quarter ended March 31, 2016, 200,000 shares were sold to Aspire Capital at an average price of $2.14. |
Warrant Liabilities
Warrant Liabilities | 3 Months Ended |
Mar. 31, 2017 | |
Text Block [Abstract] | |
Warrant Liabilities | 8. Warrant Liabilities We account for common stock warrants as either liabilities or as equity instruments depending on the specific terms of the warrant agreement. Registered common stock warrants that could require cash settlement are accounted for as liabilities. We classify these warrant liabilities on the consolidated balance sheet as a non-current At March 31, 2016, we had two series of warrants that were classified as liabilities, as opposed to equity and were recorded at their fair values. As of March 31, 2017, all of our warrants have either been exercised or expired, and we received proceeds of $1.9 million in the first quarter of 2017 from warrant exercises. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 9. Income Taxes We have U.S. federal net operating loss and research and development tax credit carryforwards, as well as state and city net operating loss carryforwards, which may be used to reduce future taxable income and tax liabilities. We also have foreign net operating loss and foreign tax credit carryforwards, and the foreign net operating losses do not expire. Substantially all of our deferred tax assets have been offset by a valuation allowance due to our cumulative losses. We recognize refundable tax benefits related to research and development credits associated with our foreign subsidiary. The utilization of net operating loss and tax credit carryforwards generated prior to October 2012 (the “Section 382 Limited Attributes”) is substantially limited under Section 382 of the Internal Revenue Code of 1986, as amended, as a result of our equity offering that occurred in October 2012. We generated U.S. federal net operating loss carryforwards, research and development tax credits, and state and local net operating loss carryforwards since 2012. We will update our analysis under Section 382 prior to using these attributes. |
Recently Issued Accounting St15
Recently Issued Accounting Standards (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Standards | 2. Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting 2016-09”), 2016-09, In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) right-of-use In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09 2015-14, one-for-one 2014-09 |
Net (Loss) Income per Share (Ta
Net (Loss) Income per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Net (Loss) Income and Number of Shares Used to Calculate Basic and Diluted Net (Loss) Income Per Share | The table below reconciles the net (loss) income and the number of shares used to calculate basic and diluted net (loss) income per share for the three-month periods ended March 31, 2017 and 2016, in thousands, except share and per share data. Three months ended March 31, 2017 2016 Numerator: Net (loss) income attributable to common stockholders - Basic and Diluted $ (5,631 ) $ 4,750 Denominator: Weighted-average shares outstanding - Basic 102,047,062 83,781,114 Potentially dilutive common shares outstanding: Stock-based awards — 84,493 Weighted-average shares used to calculate diluted net (loss) income per share 102,047,062 83,865,607 Basic and Dilutive (loss) income per share $ (0.06 ) $ 0.06 |
Instruments Excluded from Calculation of Diluted Net (Loss) Income Per Share | The following instruments were excluded from the calculation of diluted net (loss) income per share because their effects would be antidilutive: Three months ended March 31, 2017 2016 Stock - based awards 10,091,837 7,593,940 Warrants — 3,554,893 Total 10,091,837 11,148,833 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investments, All Other Investments [Abstract] | |
Roll-Forward of Fair Value Measurements Using Significant Unobservable Inputs (Level 3) for Warrant Liabilities | A roll-forward of fair value measurements using significant unobservable inputs (Level 3) for the warrant liabilities is as follows (in thousands): Three months ended Balance January 1, 2017 $ 1,004 Settlements from exercises (276 ) Gain included in income from change in fair value of warrants (728 ) Balance March 31, 2017 $ — |
Background and Basis of Prese18
Background and Basis of Presentation - Additional Information (Detail) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017USD ($)Segment | Dec. 31, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Accounting Policies [Abstract] | ||||
Number of business segments | Segment | 1 | |||
Accumulated deficit | $ (324,020) | $ (318,279) | ||
Cash and cash equivalents | $ 31,940 | $ 14,753 | $ 30,414 | $ 23,027 |
Recently Issued Accounting St19
Recently Issued Accounting Standards - Additional Information (Detail) $ in Millions | Jan. 01, 2017USD ($) |
Accounting Policies [Abstract] | |
Accumulated deficit recognized due to adoption of new accounting policy | $ 0.1 |
Net (Loss) Income per Share - N
Net (Loss) Income per Share - Net (Loss) Income and Number of Shares Used to Calculate Basic and Diluted Net (Loss) Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Numerator: | ||
Net (loss) income attributable to common stockholders - Basic and Diluted | $ (5,631) | $ 4,750 |
Denominator: | ||
Weighted-average shares outstanding - Basic | 102,047,062 | 83,781,114 |
Potentially dilutive common shares outstanding: Stock-based awards | 84,493 | |
Weighted-average shares used to calculate diluted net (loss) income per share | 102,047,062 | 83,865,607 |
Basic and Dilutive (loss) income per share | $ (0.06) | $ 0.06 |
Net (Loss) Income per Share - I
Net (Loss) Income per Share - Instruments Excluded from Calculation of Diluted Net (Loss) Income Per Share (Detail) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 10,091,837 | 11,148,833 |
Stock - Based Awards [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 10,091,837 | 7,593,940 |
Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 3,554,893 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 | Feb. 29, 2016 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Financial assets measured at fair value on recurring basis | $ 0 | ||
Financial assets measured at fair value on recurring basis | $ 0 | ||
Warrant liabilities | $ 1,004,000 | ||
Non current note payable | $ 190,000 | ||
Fair Value Measurements, Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Warrant liabilities | $ 1,004,000 |
Financial Instruments - Roll-Fo
Financial Instruments - Roll-Forward of Fair Value Measurements Using Significant Unobservable Inputs (Level 3) for Warrant Liabilities (Detail) - Outstanding Warrants [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |
Beginning Balance | $ 1,004 |
Settlements from exercises | (276) |
Gain included in income from change in fair value of warrants | $ (728) |
Certain Revenue Arrangements -
Certain Revenue Arrangements - Additional Information (Detail) $ in Millions | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Healios License Agreement [Member] | |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |
Up-front cash payment received | $ 15 |
Potential near-term payment received | $ 10 |
Collaborative expansion period | 2 years |
License revenue | $ 15 |
Healios License Agreement [Member] | Regulatory and Sales Milestones [Member] | |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |
Commercial milestone revenue | 225 |
RTI Surgical Inc [Member] | |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |
Commercial milestone revenue | $ 1 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($)Plansshares | Mar. 31, 2016USD ($) | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Number of incentive plans | Plans | 2 | |
Common stock authorized for equity incentive plans | 21,500,000 | |
Common stock shares issued | 3,662,739 | |
Shares available for issuance | 7,745,424 | |
Shares of common stock outstanding | 10,091,837 | |
Stock-based compensation expense | $ | $ 689 | $ 707 |
Total unrecognized estimated compensation cost | $ | $ 5,700 |
Issuance of Common Stock - Addi
Issuance of Common Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Feb. 28, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2013 | Dec. 31, 2011 | |
Class of Warrant or Right [Line Items] | |||||
Proceeds from common stock issued in public offerings | $ 20,900 | $ 20,877 | $ 424 | ||
Common stock share issued in public offering | 22,772,300 | ||||
Common stock offering price | $ 1.01 | ||||
Common stock registered for resale | 16,600,000 | ||||
Common Stock [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Common stock share issued in public offering | 0 | 200,000 | |||
Sale of additional shares at an average price | $ 2.14 | ||||
Aspire [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Equity purchase agreement, value | $ 30,000 | $ 25,000 | $ 20,000 | ||
Equity purchase agreement, term | 3 years |
Warrant Liabilities - Additiona
Warrant Liabilities - Additional Information (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($) | Mar. 31, 2016Warrant | |
Equity [Abstract] | ||
Number of series of warrants | Warrant | 2 | |
Proceeds from warrant exercises | $ | $ 1,861 |