NovaBay Pharmaceuticals (NBY) 10-Q 13 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	NOVABAY PHARMACEUTICALS, INC.
Trading Symbol	NBY
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		73,755,112
Amendment Flag	false
Entity Central Index Key	1,389,545
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 7,208	$ 5,429
Accounts receivable	389	273
Inventory	1,452	521
Prepaid expenses and other current assets	597	729
Total current assets	9,646	6,952
Property and equipment, net	375	436
Other assets	153	149
TOTAL ASSETS	10,174	7,537
Current liabilities:
Accounts payable	1,777	1,865
Accrued liabilities	764	1,055
Deferred revenue	220	425
Total current liabilities	2,761	3,345
Deferred revenues - non-current	2,189	2,000
Deferred rent	181	171
Warrant liability	139	173
Total liabilities	5,270	5,689
Stockholders' equity:
Preferred stock, $0.01 par value; 5,000 shares authorized; none outstanding at June 30, 2015 and December 31, 2014	0	0
Common stock, $0.01 par value; 120,000 shares authorized at June 30, 2015 and 65,000 shares and December 31, 2014; 73,642 and 51,640 issued and outstanding at June 30, 2015 and December 31, 2014, respectively	736	516
Additional paid-in capital	85,242	72,879
Accumulated deficit	(81,074)	(71,547)
Total stockholders' equity	4,904	1,848
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 10,174	$ 7,537

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Jun. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	120,000	65,000
Common stock, issued	73,642	51,640
Common stock, outstanding	73,642	51,640

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Sales:
Product Revenue	$ 931,000	$ 21,000	$ 1,423,000	$ 209,000
Other Revenue	77,000	102,000	123,000	202,000
Total Net Sales	1,008,000	123,000	1,546,000	411,000
Product Cost of Goods Sold	253,000	18,000	401,000	148,000
Gross Profit	755,000	105,000	1,145,000	263,000
Operating Expenses:
Research & development	1,245,000	2,238,000	2,886,000	4,766,000
Sales, general & administrative	4,369,000	1,653,000	7,779,000	3,361,000
Total Operating Expenses	5,614,000	3,891,000	10,665,000	8,127,000
Operating Loss	(4,859,000)	(3,786,000)	(9,520,000)	(7,864,000)
Non-cash gain(loss) on changes in FMV of Warrants	0	797,000	34,000	1,317,000
Other income (expense), net	(22,000)	57,000	(33,000)	50,000
Loss before provision for income taxes	(4,881,000)	(2,932,000)	(9,519,000)	(6,497,000)
Provision for income tax	(6,000)	(10,000)	(8,000)	(10,000)
Net loss	(4,887,000)	(2,942,000)	(9,527,000)	(6,507,000)
Change in Unrealized gains (losses) on available for sale securities				2,000
Comprehensive loss	$ (4,887,000)	$ (2,942,000)	$ (9,527,000)	$ (6,505,000)
Loss per share (basic and diluted) (in Dollars per share)	$ (0.07)	$ (0.06)	$ (0.16)	$ (0.14)
Basic & Diluted Shares (in Shares)	66,331	50,767	60,384	48,607

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (9,527)	$ (6,507)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	82	141
Net realized loss on sales of short-term investments		19
Gain on disposal of property and equipment	(1)	(53)
Stock-based compensation expense for options issued to employees and directors	677	442
Stock-based compensation expense for options and stock issued to non-employees	111	82
Non-cash gain on change in fair value of warrants	(34)	(1,317)
Changes in operating assets and liabilities:
Accounts receivable	(151)	403
Inventory	(871)	12
Prepaid expenses and other assets	74	55
Accounts payable and accrued liabilities	(286)	(1,372)
Deferred rent	10
Deferred revenue	(16)	(74)
Net cash used in operating activities	(9,932)	(8,169)
Cash flows from investing activities:
Purchases of property and equipment	(22)	(21)
Proceeds from disposal of property and equipment	37	102
Purchases of short-term investments		(4,012)
Proceeds from maturities and sales of short-term investments		2,750
Net cash provided by (used in) investing activities	15	(1,181)
Cash flows from financing activities:
Proceeds from common stock issuances	810	74
Proceeds from exercise of options and warrants		6
Proceeds from shelf offering, net of costs	11,696	6,527
Net cash provided by financing activities	11,696	6,607
Net increase (decrease) in cash and cash equivalents	1,779	(2,743)
Cash and cash equivalents, beginning of period	5,429	10,500
Cash and cash equivalents, end of period	$ 7,208	$ 7,757

Note 1 - Organization

Note 1 - Organization	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1. ORGANIZATION NovaBay Pharmaceuticals, Inc. (“we,” “NovaBay” or the “Company”) is a biopharmaceutical company focused on the development and commercialization of its non-antibiotic anti-infective products. The Company was incorporated under the laws of the State of California on January 19, 2000, as NovaCal Pharmaceuticals, Inc. We had no operations until July 1, 2002, on which date we acquired all of the operating assets of NovaCal Pharmaceuticals, LLC, a California limited liability company. In February 2007, we changed our name from NovaCal Pharmaceuticals, Inc. to NovaBay Pharmaceuticals, Inc. In August 2007, we formed two subsidiaries––NovaBay Pharmaceuticals Canada, Inc., a wholly-owned subsidiary incorporated under the laws of British Columbia (Canada), which was formed to conduct research and development in Canada which was dissolved in July 2012, and DermaBay, Inc., a wholly-owned U.S. subsidiary, which may explore and pursue dermatological opportunities. In June 2010, we changed the state in which we are incorporated (the Reincorporation), and are now incorporated under the laws of the State of Delaware. All references to “we,” “us,” “our,” or “the Company” herein refer to the California corporation prior to the date of the Reincorporation, and to the Delaware corporation on and after the date of the Reincorporation. We currently operate in four business segments; see Note 10 for further details.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and are expressed in U.S. dollars. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, DermaBay, Inc. All inter-company accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates include useful lives for property and equipment and related depreciation calculations, estimated amortization period for payments received from product development and license agreements as they relate to revenue recognition, assumptions for valuing options and warrants, and income taxes. Actual results could differ from those estimates. Cash , Cash Equivalents and Short-Term Investments The Company considers all highly liquid instruments with a stated maturity of three months or less at the date of purchase to be cash and cash equivalents. Cash and cash equivalents are stated at cost, which approximates their fair value. As of June 30, 2015, the Company’s cash and cash equivalents were held in financial institutions in the United States and include deposits in money market funds, which were unrestricted as to withdrawal or use. Concentrations of Credit Risk and Major Partners Financial instruments which potentially subject us to significant concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company maintains deposits of cash, cash equivalents and short-term investments with three highly-rated, major financial institutions in the United States. Deposits in these banks may exceed the amount of federal insurance provided on such deposits. The Company does not believe it is exposed to significant credit risk due to the financial position of the financial institutions in which these deposits are held. Additionally, the Company has established guidelines regarding diversification and investment maturities, which are designed to maintain safety and liquidity. Fair Value of Financial Assets and Liabilities Financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. Our warrant liability is carried at fair value. The Company measures the fair value of financial assets and liabilities based on U.S. GAAP guidance which defines fair value, establishes a framework for measuring fair value, and requires disclosures about fair value measurements. Under U.S. GAAP, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is also established, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities; Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable; Level 3 – inputs that are unobservable (for example cash flow modeling inputs based on assumptions). Inventory Inventory is comprised of (1) raw materials and supplies, such as bottles, packaging materials, labels, boxes, pumps; (2) goods in progress, which are normally unlabeled bottles; and (3) finished goods. Inventory is stated at the lower of cost or market value determined by the first-in, first-out method. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets of five to seven years for office and laboratory equipment, three years for software and seven years for furniture and fixtures. Leasehold improvements are depreciated over the shorter of seven years or the lease term. The costs of normal maintenance, repairs, and minor replacements are charged to operations when incurred. Impairment of Long-Lived Assets The Company accounts for long-lived assets in accordance with U.S. GAAP, which requires that companies consider whether events or changes in facts and circumstances, both internally and externally, may indicate that an impairment of long-lived assets held for use are present. Management periodically evaluates the carrying value of long-lived assets and has determined that there was no impairment as of all periods presented. Determination of recoverability is based on the estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are not expected to be sufficient to recover the carrying amount of the asset, the assets are written down to their estimated fair values and the loss is recognized in the statements of operations. Comprehensive Income (Loss) ASC 220, Comprehensive Income Revenue Recognition Product Sales — Cost of Goods Sold Cost of goods sold includes third party manufacturing costs, shipping costs, and other costs of goods sold. Cost of goods sold also includes any necessary allowances for excess inventory that may expire and become unsalable. The Company did not record an allowance for excess inventory as of June 30, 2015. Research and Development Costs The Company charges research and development costs to expense as incurred. These costs include salaries and benefits for research and development personnel, costs associated with clinical trials managed by contract research organizations, and other costs associated with research, development and regulatory activities. The Company uses external service providers to conduct clinical trials, to manufacture supplies of product candidates and to provide various other research and development-related products and services. Research and development expenses under the collaborative agreements approximate the revenue recognized, excluding milestone and upfront payments received under such arrangements. Patent Costs Patent costs, including legal expenses, are expensed in the period in which they are incurred. Patent expenses are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC 718, Compensation-Stock Compensation Income Taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or the entire deferred tax asset will not be recognized. Common Stock Warrant Liabilities For warrants where there is a deemed possibility that the Company may have to settle the warrants in cash, the Company records the fair value of the issued warrants as a liability at each balance sheet date and records changes in the estimated fair value as a non-cash gain or loss in the consolidated statement of operations and comprehensive loss. The fair values of these warrants have been determined using the Binomial Lattice (“Lattice”) valuation model. The Lattice model provides for assumptions regarding volatility, call and put features and risk-free interest rates within the total period to maturity. These values are subject to a significant degree of judgment on the part of the Company. Net Income (Loss) per Share The Company computes net income (loss) per share by presenting both basic and diluted earnings (loss) per share (EPS). Basic EPS is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options and warrants, using the treasury stock method, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Potentially dilutive common share equivalents are excluded from the diluted EPS computation in net loss periods since their effect would be anti-dilutive. During the three months ended June 30, 2015 and 2014, and the six months ended June 30, 2015 and 2014, there was no difference between basic and diluted net loss per share due to the Company’s net losses. The following table sets forth the calculation of basic EPS and diluted EPS: Three Months Six Months June 30, June 30, (in thousands, except per share amounts) 2015 2014 2015 2014 Net loss $ (4,887 ) $ (2,942 ) $ (9,527 ) $ (6,505 ) Basic and diluted loss per share $ (0.07 ) $ (0.06 ) $ (0.16 ) $ (0.14 ) Basic shares 66,331 50,767 60,384 48,067 Add: shares issued upon assumed exercise of stock options and warrants — — — — Diluted shares 66,331 50,767 60,384 48,067 The following outstanding stock options and stock warrants were excluded from the diluted net loss per share computation as their effect would have been anti-dilutive: Six Months Ended June 30, (In thousands) 2015 2014 Stock options 8,694 7,473 Stock warrants 26,786 6,165 35,480 13,638 Recent Accounting Pronouncements There have been no recent accounting pronouncements or changes in accounting pronouncements during the six months ended June 30, 2015, as compared to the recent accounting pronouncements described in the Company’s Form 10-K for the year ended December 31, 2014, that are of significance or potential significance to the Company.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 3 . FAIR V ALUE MEASUREMENTS The Company measures the fair value of financial assets and liabilities based on authoritative guidance which defines fair value, establishes a framework consisting of three levels for measuring fair value, and requires disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company’s cash equivalents and investments are classified within Level 1 or Level 2 of the fair value hierarchy because they are valued using quoted market prices in active markets, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. The types of investments that are generally classified within Level 1 of the fair value hierarchy include money market securities. The types of investments that are generally classified within Level 2 of the fair value hierarchy include corporate securities, certificates of deposits and U.S. government securities. The Company’s warrant liability is classified within level 3 of the fair value hierarchy because the value is calculated using significant judgment based on our own assumptions in the valuation of this liability. The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2015: Fair Value Measurements Using (in thousands) Balance at June 30, 2015 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Obserbable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Cash equivalents $ 7,208 $ 7,208 $ — $ — Total assets $ 7,208 $ 7,208 $ — $ — Liabilities Warrant liability $ 139 $ — $ — $ 139 Total liabilities $ 139 $ — $ — $ 139 For the three and six month periods ended June 30, 2015, as a result of the fair value adjustment of the warrant liability, the Company recorded a non-cash gain on a decrease in the fair value of the warrants of $0 and $34 thousand, respectively, in its consolidated statement of operations and comprehensive loss. For the three and six month periods ended June 30, 2014, as a result of the fair value adjustment of the warrant liability, the Company recorded a noncash gain on a decrease in the fair value of the warrants of $797 thousand and $1,317 thousand, respectively, in its consolidated statement of operations and comprehensive loss. See Note 6 for further discussion on the calculation of the fair value of the warrant liability. (in thousands) Warrant liability Fair value of warrants at December 31, 2014 $ 173 Adjustment to fair value at June 30, 2015 (34 ) Total warrant liability at June 30, 2015 $ 139

Note 4 - Inventory

Note 4 - Inventory	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	NOTE 4 . INVENTORY Inventory consisted of the following: (in thousands) June 30 , 201 5 December 31, 20 14 Raw materials and supplies $ 1,172 $ 260 Goods in process 184 184 Finished goods 96 77 Total inventory $ 1,452 $ 521

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 5 . COMMITMENTS AND CONTINGENCIES Operating Leases The Company leases laboratory facilities and office space under an operating lease which will expire on October 31, 2020. Rent expense was approximately $224 thousand and $280 thousand for the three months ended June 30, 2015 and 2014, respectively. Rent expense was approximately $480 thousand and $535 thousand for the six months ended June 30, 2015 and 2014, respectively The Company’s monthly rent payments fluctuate under the master lease agreement. In accordance with U.S. GAAP, the Company recognizes rent expense on a straight-line basis. The Company records deferred rent for the difference between the amounts paid and recorded as expense. Directors and Officers Indemnity As permitted under Delaware law and in accordance with its bylaws, the Company shall indemnify its officers and directors for certain events or occurrences while the officer or director is or was serving at its request in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum amount of potential future indemnification is unlimited; however, the Company has a director or officer insurance policy that limits its exposure and may enable them to recover a portion of any future payments. The Company believes the fair value of these indemnification agreements is minimal. Accordingly, no liability has been recorded for these agreements as of June 30, 2015. In the normal course of business, the Company provides indemnifications of varying scope under agreements with other companies, typically its clinical research organizations, investigators, clinical sites, suppliers and others. Pursuant to these agreements, the Company generally indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified parties in connection with use or testing of its products or product candidates or with any U.S. patent or any copyright or other intellectual property infringement claims by any third party with respect to their products. The term of these indemnification agreements is generally perpetual. The potential future payments the Company could be required to make under these indemnification agreements is unlimited. Historically, costs related to these indemnification provisions have been immaterial. The Company also maintains various liability insurance policies that limit its exposure. As a result, the Company believes the fair value of these indemnification agreements is minimal. Accordingly, no liabilities have been recorded for these agreements as of June 30, 2015. Legal Matters From time to time, the Company may be involved in various legal proceedings arising in the ordinary course of business. There are no matters at June 30, 2015, that, in the opinion of management, would have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Note 6 - Warrant Liability

Note 6 - Warrant Liability	6 Months Ended
	Jun. 30, 2015
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	NOTE 6 . WARRANT LIABILITY In July 2011, the Company sold common stock and warrants in a registered direct financing. As part of this transaction, 3,488,005 warrants were issued with an exercise price of $1.33 and were exercisable on January 1, 2012, and expire on July 5, 2016. The terms of the warrants require registered shares to be delivered upon each warrant’s exercise and also require possible cash payments to the warrant holders (in lieu of the warrant’s exercise) upon specified fundamental transactions involving the Company’s common stock, such as in an acquisition of the Company. Under ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), the Company’s ability to deliver registered shares upon an exercise of the warrants and the Company’s potential obligation to cash-settle the warrants if specified fundamental transactions occur are deemed to be beyond the Company’s control. The warrants contain a provision where the warrant holder would have the option to receive cash, equal to the Black-Scholes fair value of the remaining unexercised portion of the warrant, as cash settlement in the event that there is a fundamental transaction (contractually defined to include various merger, acquisition or stock transfer activities). Due to this provision, ASC 480 requires that these warrants be classified as liabilities. The fair values of these warrants have been determined using the Binomial Lattice (“Lattice”) valuation model, and the changes in the fair value are recorded in the consolidated statement of operations and comprehensive loss. The Lattice model provides for assumptions regarding volatility and risk-free interest rates within the total period to maturity. In addition, after January 5, 2012, and if the closing bid price per share of the common stock on the principal market equals or exceeds $2.66 for any ten trading days (which do not need to be consecutive) in a period of fifteen consecutive trading days, the Company has the right to require the exercise of one-third of the warrants then held by the warrant holders, which would result in gross proceeds to the Company of approximately $1.5 million. The key assumptions used to value the warrants were as follows: June 30, 2015 2014 Assumption Expected price volatility 75 % 70 % Expected term (in years) 1.01 2.01 Risk-free interest rate 0.29 % 0.48 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 0.04 $ 0.15

Note 7 - Stockholders' Equity

Note 7 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 7. STOCKHOLDERS’ EQUITY For the six months ended June 30, 2015, the Company sold 1,060,931 shares of common stock for gross proceeds of $881 thousand, or approximately $810 thousand in net proceeds after deducting offering costs and commissions of $71 thousand, pursuant to the At-The-Market Offering Agreement (“2013 ATM Agreement”), with Ascendiant Capital Markets (“Ascendiant”) . On March 3, 2015, the Company entered into a securities purchase agreement for the sale of its common stock and warrants in a private placement for net proceeds of approximately $4.5 million. Investors purchased 9,273,332 units consisting of one share of the Company’s common stock and two warrants to purchase an additional share and three-quarters share of common stock, respectively. The first warrant, totaling rights to 9,273,332 shares, which is exercisable beginning on the date six months after the date of issuance, entitles the holder to purchase one share of common stock at a price of $0.60 per share, and includes a provision for forced conversion if the common stock trades at or above $1.10 for 10 out of 20 consecutive trading days. This warrant will expire, unless exercised, 15 months following the date of issuance. The second warrant, totaling rights to 6,955,000 shares, entitles the holder to purchase three-quarters of one share of common stock at a price of $0.65 per share, and is exercisable beginning on the date six months after the date of issuance. This warrant expires five and one half years from closing, unless exercised. In connection with the securities purchase agreement, the Company also issued a warrant to the placement agent, totaling rights to 185,466 shares, which entitles the holder to purchase one share of common stock at a price of $0.65 per share, and is exercisable beginning on March 6, 2015. This warrant expires 60 months from issuance, unless exercised. The gross proceeds of this sale was $4.7 million, or approximately $4.4 million in net proceeds after deducting offering costs and commissions of $0.3 million. In April 2015, the registration statement on Form S-3 associated with the Company’s March 2015 private placement was declared effective by the U.S. Securities and Exchange Commission (SEC). The registration of these shares causes them to be eligible for open trading in the stock market. On May 22, 2015, the Company entered into a securities purchase agreement for the sale of $6.9 million of its common stock and warrants to purchase common stock in a private placement. Investors purchased 10,893,648 units consisting of one share of the Company’s common stock and a warrant to purchase an additional one-half share of common stock. The cost per unit was $0.63. The warrants, totaling rights to purchase 5,446,824 shares, exercisable beginning on the date six months after the date of issuance, entitled the holders to purchase one share of common stock at a price of $0.78 per share, and included a provision for forced conversion if the common stock traded at or above $1.00 for 10 out of 20 consecutive trading days. These warrants will expire, unless exercised, 18 months following the date of issuance. If fully exercised, these warrants would bring approximately $4.2 million of gross proceeds to the Company. China Kington Investment Co Ltd acted as the sole placement agent of the offering, with Maxim Group LLC acting as financial advisor to the Company. As part of the transaction, the Company agreed to file a registration statement with the Securities and Exchange Commission for purposes of registering the resale of (i) the shares of common stock sold to the investors, and (ii) the common stock issuable upon the exercise of the warrants. Any offering of the securities under the resale registration statement will only be by means of a prospectus. The gross proceeds of this sale was $6.9 million, or approximately $6.3 million in net proceeds after deducting offering costs and commissions of $0.6 million. In July 2015, the registration statement on Form S-3 associated with the Company’s May 2015 private placement was declared effective by the SEC. The registration of these shares causes them to be eligible for open trading in the stock market. Stock Warrants In March 2014, 1,400,000 warrants were issued in connection with March 2014 financing. These warrants were issued with an exercise price of $1.56 and expire on September 25, 2015. These outstanding warrants were fully exercisable at September 30, 2014. In March 2015, 16,413,798 warrants were issued in connection with March 2015 financing. The first warrant, totaling rights to 9,273,332 shares, is exercisable beginning on the date six months after the date of issuance with an exercise price of $0.60 per share and expires 15 months following the issuance. The second warrant, totaling rights to 6,955,000 shares, is exercisable beginning on the date six months after the date of issuance with an exercise price of $0.65 per share and expires five and one half years from closing. The third warrant, totaling rights to 185,466 shares, is exercisable beginning on March 6, 2015 with an exercise price of $0.65 per share and expires 60 months from issuance. In May 2015, 5,446,824 warrants were issued in connection with May 2015 financing. The warrants, exercisable on the date six months after the date of issuance, entitled the holders to purchase one share of common stock at a price of $0.78 per share, and included a provision for forced conversion if the common stock traded at or above $1.00 for 10 out of 20 consecutive trading days. These warrants will expire, unless exercised, 18 months following the date of issuance. The details of all outstanding warrants as of June 30, 2015, are as follows: in thousands, except per share data) Warrants Weighted-Average Exercise Price Outstanding at December 31, 2014 4,925 $ 1.42 Warrants issued 21,861 $ 0.62 Outstanding at June 30, 2015 26,786 $ 0.81

Note 8 - Equity-based Compensat

Note 8 - Equity-based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 8. EQUITY-BASED COMPENSATION Equity Compensation Plans Prior to our Initial Public Offering (IPO), the Company had two equity plans in place: the 2002 Stock Option Plan and the 2005 Stock Option Plan. Upon the closing of the IPO in October 2007, the Company adopted the 2007 Omnibus Incentive Plan (the “2007 Plan”) to provide for the granting of stock awards, such as stock options, unrestricted and restricted common stock, stock units, dividend equivalent rights, and stock appreciation rights to employees, directors and outside consultants as determined by the board of directors. In conjunction with the adoption of the 2007 Plan, no further option awards may be granted from the 2002 or 2005 Stock Option Plans and any option cancellations or expirations from the 2002 or 2005 Stock Option Plans may not be reissued. As of June 30, 2015, there were 1,854,516 shares available for future grant under the 2007 Plan. Under the terms of the 2007 Plan, the exercise price of incentive stock options may not be less than 100% of the fair market value of the common stock on the date of grant and, if granted to an owner of more than 10% of the Company’s stock, then not less than 110%. Stock options granted under the 2007 Plan expire no later than ten years from the date of grant. Stock options granted to employees generally vest over four years while options granted to directors and consultants typically vest over a shorter period, subject to continued service. All of the options granted prior to October 2007 include early exercise provisions that allow for full exercise of the option prior to the option vesting, subject to certain repurchase provisions. The Company issues new shares to satisfy option exercises under the plans. Stock Option Summary The following table summarizes information about the Company’s stock options outstanding at June 30, 2015, and activity during the six-month period then ended: (in thousands, except years and per share data) Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding at December 31, 2014 8,042 $ 1.53 6.3 23 Options granted 916 $ 0.69 Restricted stock units granted 156 $ — Options exercised (7 ) $ 0.56 Restricted stock units vested (147 ) $ — Options forfeited/cancelled (266 ) $ 1.60 Outstanding at June 30, 2015 8,694 $ 1.44 6.2 $ 20 Vested and expected to vest at June 30, 2015 8,440 $ 1.45 6.1 $ 16 Vested at June 30, 2015 6,437 $ 1.60 5.3 $ — Exercisable at June 30, 2015 6,437 $ 1.60 5.3 $ — The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of the Company’s common stock as quoted on the NYSE Market as of June 30, 2015, for options that have a quoted market price in excess of the exercise price (“in-the-money options”). The Company received no cash payments for the exercise of stock options during the six months ended June 30, 2015. There were no stock option awards exercised for the three months ended June 30, 2015. The aggregate intrinsic values of stock option awards exercised were $26 thousand for the three months ended June 30, 2014, as determined at the date of option exercise. The aggregate intrinsic values of stock option awards exercised were $4 thousand and $32 thousand for the six months ended June 30, 2015 and 2014, respectively. As of June 30, 2015, total unrecognized compensation cost related to unvested stock options was $1.2 million. This amount is expected to be recognized as stock-based compensation expense in the Company’s consolidated statements of operations and comprehensive loss over the remaining weighted average vesting period of 2.11 years. Stock Options and Awards to Employees and Directors The Company grants options to purchase common stock to its employees and directors at prices equal to or greater than the market value of the stock on the dates the options are granted. The Company has estimated the value of stock option awards as of the date of grant by applying the Black-Scholes-Merton option pricing model using the single-option valuation approach. The application of this valuation model involves assumptions that are judgmental and subjective in nature. See Note 2 for a description of the accounting policies that the Company applied to value its stock-based awards. During the six months ended June 30, 2015 and 2014 the Company granted options to purchase an aggregate of 626,000 and 574,000 shares of common stock, respectively, to employees and directors. The weighted-average assumptions used in determining the value of options are as follows: Six months ended June 30, Assumption 2015 2014 Expected price volatility 73 % 73 % Expected term (in years) 5.18 5.59 Risk-free interest rate 1.63 % 1.80 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 0.40 $ 0.70 Expected Price Volatility Expected Term Risk-Free Interest Rate Dividend Yield Forfeitures are estimated at the time of grant and reduce compensation expense ratably over the vesting period. This estimate is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate. Additionally, during the six months ended June 30, 2015 and 2014, the Company issued 143,000 and 48,000 shares of common stock, respectively, to employees. For the three months ended June 30, 2015 and 2014, the Company recognized stock-based compensation expense of $226 thousand and $197 thousand, respectively, for stock based awards to employees and directors. For the six months ended June 30, 2015 and 2014, the Company recognized stock-based compensation expense of $677 thousand and $442 thousand, respectively, for stock based awards to employees and directors. In April 2015, the Company modified stock options of two of its directors Mr. Cashion and Mr. Wicks, retiring at the 2015 Annual Shareholder Meeting in June 2015. All outstanding stock options held by Mr. Cashion and Mr. Wicks fully vested upon retirement at the 2015 Annual Meeting and the option exercise period for Mr. Cashion and Mr. Wicks was extended from 3 months to 4 years, calculated from the date of retirement. Options that have an expiration date prior to the end of the exercise period will maintain their same expiration date. In connection with the stock option modification, the Company recognized stock-based compensation expense of $185 thousand. Stock-Based Awards to Non-Employees During the six months ended June 30, 2015 and 2014, the Company granted options to purchase an aggregate of 291,000 and 193,000 shares of common stock, respectively, to non-employees in exchange for advisory and consulting services. The stock options are recorded at their fair value on the measurement date and recognized over the respective service or vesting period. The fair value of the stock options granted was calculated using the Black-Scholes-Merton option pricing model based upon the following assumptions: Six Months Ended June 30, Assumption 2015 2014 Expected price volatility 79 % 79 % Expected term (in years) 9.15 8.56 Risk-free interest rate 2.02 % 2.42 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 0.64 $ 0.72 The Company granted restricted stock to non-employees totaling 13,000 and 15,000 shares of common stock in the six months ended June 30, 2015 and 2014, respectively, in exchange for advisory and consulting services. For the three months ended June 30, 2015 and 2014, the Company recognized stock-based compensation expense of $92 thousand and $50 thousand, respectively, related to non-employee stock and option grants. For the six months ended June 30, 2015 and 2014, the Company recognized stock-based compensation expense of $111 thousand and $82 thousand, respectively, related to non-employee stock and option grants. Summary of Stock-Based Compensation Expense A summary of the stock-based compensation expense included in the consolidated statement of operations and comprehensive loss for the options and stock discussed above is as follows. (The amounts that would have been charged to Cost of Goods Sold are not material and have been included in General and Administrative below.): Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2015 2014 2015 2014 Research and development $ 50 $ 49 $ 180 $ 125 General and administrative 342 198 497 399 Total stock-based compensation expense $ 392 $ 247 $ 677 $ 524 Since the Company continues to operate at a net loss, it does not expect to realize any current tax benefits related to stock options.

Note 9 - License, Collaboration

Note 9 - License, Collaboration and Distribution Agreements	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborative Arrangement Disclosure [Text Block]	NOTE 9. LICENSE, COLLABORATION AND DISTRIBUTION AGREEMENTS Galderma On March 25, 2009, the Company entered into a collaboration and license agreement with Galderma S.A. to develop and commercialize the Company’s Aganocide compounds, which covers acne and impetigo and potentially other major dermatological conditions. . The Company did not have any deferred revenue balances at June 30, 2015 and December 31, 2014, respectively, related to the Galderma agreement. As of June 30, 2015, the Company has earned $4.25 million in milestone payments. As of June 30, 2015, the Company has not earned or received any royalty payments under the Galderma agreement, and does not expect to receive any milestone or royalty payments in the near future Virbac Agreement In April 2012, the Company entered into a feasibility and option agreement with Virbac, a global animal health company for the development and potential commercialization of Aganocides for a number of veterinary uses for companion animals. Under the terms of the agreement, NovaBay received an upfront payment and is entitled to additional support for research and development. The Company will conduct veterinary studies using NovaBay’s Aganocide compounds to assess feasibility for treating several veterinary indications. In April 2013, the option was exercised and the Company entered into a collaboration and license agreement with Virbac. Under this agreement, Virbac acquired exclusive worldwide rights to develop the Company’s proprietary compound, auriclosene (NVC-422), for global veterinary markets for companion animals. The Company did not recognize any revenue under the Virbac agreement during six months ended June 30, 2015 and 2014, respectively. The Company had a deferred revenue balance of $246 thousand at June 30, 2015 and December 31, 2014, respectively, related to this agreement, which consisted of the unamortized balances on the upfront technology access fee and option fee and the support for ongoing research and development. NeutroPhase Distribution Agreements In January 2012, the Company entered into a distribution agreement with Pioneer Pharma Co., Ltd., a Shanghai-based company that markets high-end pharmaceutical products into China, for the commercialization of NeutroPhase in this territory. In December 2013, the Company announced it had expanded its NeutroPhase commercial partnership agreement with Pioneer. The expanded agreement includes licensing rights to two new products, Avenova and CelleRx™, developed internally by NovaBay. The expanded partnership agreement covers the commercialization and distribution of these products in China and 11other countries in Southeast Asia. During the six months ended June 30, 2015, the Company signed three other smaller NeutroPhase distribution agreements. The Company had a deferred revenue balance of $2.2 million at June 30, 2015 and December 31, 2014, respectively, related to these its distribution agreements, which consisted of the unamortized balances on the upfront technology access fee and the support for ongoing research and development. Distribution Agreements In January 2015, the Company signed a new agreement with Sarmedic Ltd to market Avenova in Israel. In January 2015, the Company signed a nationwide distribution agreement with Cardinal Health, which delivers prescription drugs and many other products to retail pharmacies, hospitals, mail-order facilities, physician offices, surgery centers and other facilities across the U.S. Under the agreement, Cardinal Health will carry and distribute Avenova product. In April 2015, the Company signed a U.S. distribution agreement for Avenova product with AmerisourceBergen, one of the largest global pharmaceutical sourcing and distribution services companies. During the three months ended June 30, 2015, the Company earned $39 thousand in sales revenue for its Avenova product related to the distribution agreements. During the six months ended June 30, 2015, the Company earned $343 thousand in sales revenue for its Avenova product related to the distribution agreements.

Note 10 - Segment Information

Note 10 - Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 10 . SEGMENT INFORMATION The Company reports financial data for four reportable segments, coinciding with its four business units: dermatology, ophthalmology, urology and wound care. The dermatology segment includes all aspects of its business around the dermatology arena including the collaboration with Galderma and their impetigo clinical trial. The ophthalmology segment includes Avenova and the Company’s clinical trial on ophthalmology which it was conducting on its own. This segment also includes the intelli-Case with hydrogen peroxide solutions. On April 29, 2015, the Company received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market the intelli-Case with hydrogen peroxide solutions. The urology segment covers the Company’s urinary catheter encrustation and blockage (UCBE) trials. The wound care segment encompasses the business around its NeutroPhase product, which went on the market in December 2012. The Company’s remaining activities are immaterial and are shown as an aggregate. The Company discloses information about its reportable segments based on the measures it uses in assessing the performance of each segment. The Company uses “segment net income (loss)” to measure the performance of its business units. Segment net income (loss) includes the allocation of certain corporate expense. These expenses have been allocated based on the FTE allocations to each individual segment or business unit. The Company does not segregate specific assets to each business unit as we do not have a reasonable way to allocate the corporate assets to each unit and the Company does not use this as a measure of segment performance. Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2015 2014 2015 2014 Revenues: DermaBay (dermatology) $ - $ 4 $ - $ 5 EyeBay (ophthalology) 806 19 1,274 20 UroBay (urology) - 0 - 0 MediBay (wound care) 135 7 165 231 Other 67 93 107 155 $ 1,008 $ 123 $ 1,546 $ 411 Segment net income (loss) DermaBay (dermatology) $ (161 ) $ (330 ) $ (397 ) $ (605 ) EyeBay (ophthalology) (2,540 ) (1,423 ) (4,891 ) (3,202 ) UroBay (urology) (502 ) (722 ) (980 ) (1,219 ) MediBay (wound care) (1,469 ) (1,120 ) (2,835 ) (2,191 ) Other (187 ) (191 ) (471 ) (647 ) $ (4,859 ) $ (3,786 ) $ (9,520 ) $ (7,864 ) A reconciliation of total segment net loss to consolidated net loss is as follows: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2015 2014 2015 2014 Segment net loss $ (4,859 ) $ (3,786 ) $ (9,520 ) $ (7,864 ) Non-cash gain on change in fair value of warrants - 797 34 1,317 Other income (expenses), net (22 ) 57 (33 ) 50 Provision for income taxes (6 ) (10 ) (8 ) (10 ) Net loss $ (4,887 ) $ (2,942 ) $ (9,527 ) $ (6,507 )

Note 11 - Subsequent Events

Note 11 - Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 11 . SUBSEQUENT EVENTS We evaluated subsequent events through the issuance date of the consolidated financial statements. We are not aware of any significant events, that occurred subsequent to the balance sheet date but prior to the filing of this Quarterly Report on Form 10-Q that would have a material impact on our consolidated financial statements.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and are expressed in U.S. dollars.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, DermaBay, Inc. All inter-company accounts and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates include useful lives for property and equipment and related depreciation calculations, estimated amortization period for payments received from product development and license agreements as they relate to revenue recognition, assumptions for valuing options and warrants, and income taxes. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash , Cash Equivalents and Short-Term Investments The Company considers all highly liquid instruments with a stated maturity of three months or less at the date of purchase to be cash and cash equivalents. Cash and cash equivalents are stated at cost, which approximates their fair value. As of June 30, 2015, the Company’s cash and cash equivalents were held in financial institutions in the United States and include deposits in money market funds, which were unrestricted as to withdrawal or use.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of Credit Risk and Major Partners Financial instruments which potentially subject us to significant concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company maintains deposits of cash, cash equivalents and short-term investments with three highly-rated, major financial institutions in the United States. Deposits in these banks may exceed the amount of federal insurance provided on such deposits. The Company does not believe it is exposed to significant credit risk due to the financial position of the financial institutions in which these deposits are held. Additionally, the Company has established guidelines regarding diversification and investment maturities, which are designed to maintain safety and liquidity.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Assets and Liabilities Financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. Our warrant liability is carried at fair value. The Company measures the fair value of financial assets and liabilities based on U.S. GAAP guidance which defines fair value, establishes a framework for measuring fair value, and requires disclosures about fair value measurements. Under U.S. GAAP, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is also established, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities; Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable; Level 3 – inputs that are unobservable (for example cash flow modeling inputs based on assumptions).
Inventory, Policy [Policy Text Block]	Inventory Inventory is comprised of (1) raw materials and supplies, such as bottles, packaging materials, labels, boxes, pumps; (2) goods in progress, which are normally unlabeled bottles; and (3) finished goods. Inventory is stated at the lower of cost or market value determined by the first-in, first-out method.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets of five to seven years for office and laboratory equipment, three years for software and seven years for furniture and fixtures. Leasehold improvements are depreciated over the shorter of seven years or the lease term. The costs of normal maintenance, repairs, and minor replacements are charged to operations when incurred.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets The Company accounts for long-lived assets in accordance with U.S. GAAP, which requires that companies consider whether events or changes in facts and circumstances, both internally and externally, may indicate that an impairment of long-lived assets held for use are present. Management periodically evaluates the carrying value of long-lived assets and has determined that there was no impairment as of all periods presented. Determination of recoverability is based on the estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are not expected to be sufficient to recover the carrying amount of the asset, the assets are written down to their estimated fair values and the loss is recognized in the statements of operations.
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (Loss) ASC 220, Comprehensive Income
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Product Sales —
Cost of Goods Sold [Policy Text Block]	Cost of Goods Sold Cost of goods sold includes third party manufacturing costs, shipping costs, and other costs of goods sold. Cost of goods sold also includes any necessary allowances for excess inventory that may expire and become unsalable. The Company did not record an allowance for excess inventory as of June 30, 2015.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs The Company charges research and development costs to expense as incurred. These costs include salaries and benefits for research and development personnel, costs associated with clinical trials managed by contract research organizations, and other costs associated with research, development and regulatory activities. The Company uses external service providers to conduct clinical trials, to manufacture supplies of product candidates and to provide various other research and development-related products and services. Research and development expenses under the collaborative agreements approximate the revenue recognized, excluding milestone and upfront payments received under such arrangements.
Legal Costs, Policy [Policy Text Block]	Patent Costs Patent costs, including legal expenses, are expensed in the period in which they are incurred. Patent expenses are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC 718, Compensation-Stock Compensation
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or the entire deferred tax asset will not be recognized.
Assets or Liabilities that Relate to Transferor's Continuing Involvement in Securitized or Asset-backed Financing Assets, Policy [Policy Text Block]	Common Stock Warrant Liabilities For warrants where there is a deemed possibility that the Company may have to settle the warrants in cash, the Company records the fair value of the issued warrants as a liability at each balance sheet date and records changes in the estimated fair value as a non-cash gain or loss in the consolidated statement of operations and comprehensive loss. The fair values of these warrants have been determined using the Binomial Lattice (“Lattice”) valuation model. The Lattice model provides for assumptions regarding volatility, call and put features and risk-free interest rates within the total period to maturity. These values are subject to a significant degree of judgment on the part of the Company.
Earnings Per Share, Policy [Policy Text Block]	Net Income (Loss) per Share The Company computes net income (loss) per share by presenting both basic and diluted earnings (loss) per share (EPS). Basic EPS is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options and warrants, using the treasury stock method, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Potentially dilutive common share equivalents are excluded from the diluted EPS computation in net loss periods since their effect would be anti-dilutive. During the three months ended June 30, 2015 and 2014, and the six months ended June 30, 2015 and 2014, there was no difference between basic and diluted net loss per share due to the Company’s net losses. The following table sets forth the calculation of basic EPS and diluted EPS: Three Months Six Months June 30, June 30, (in thousands, except per share amounts) 2015 2014 2015 2014 Net loss $ (4,887 ) $ (2,942 ) $ (9,527 ) $ (6,505 ) Basic and diluted loss per share $ (0.07 ) $ (0.06 ) $ (0.16 ) $ (0.14 ) Basic shares 66,331 50,767 60,384 48,067 Add: shares issued upon assumed exercise of stock options and warrants — — — — Diluted shares 66,331 50,767 60,384 48,067 The following outstanding stock options and stock warrants were excluded from the diluted net loss per share computation as their effect would have been anti-dilutive: Six Months Ended June 30, (In thousands) 2015 2014 Stock options 8,694 7,473 Stock warrants 26,786 6,165 35,480 13,638
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements There have been no recent accounting pronouncements or changes in accounting pronouncements during the six months ended June 30, 2015, as compared to the recent accounting pronouncements described in the Company’s Form 10-K for the year ended December 31, 2014, that are of significance or potential significance to the Company.

Note 2 - Summary of Significa18

Note 2 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Six Months June 30, June 30, (in thousands, except per share amounts) 2015 2014 2015 2014 Net loss $ (4,887 ) $ (2,942 ) $ (9,527 ) $ (6,505 ) Basic and diluted loss per share $ (0.07 ) $ (0.06 ) $ (0.16 ) $ (0.14 ) Basic shares 66,331 50,767 60,384 48,067 Add: shares issued upon assumed exercise of stock options and warrants — — — — Diluted shares 66,331 50,767 60,384 48,067
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Six Months Ended June 30, (In thousands) 2015 2014 Stock options 8,694 7,473 Stock warrants 26,786 6,165 35,480 13,638

Note 3 - Fair Value Measureme19

Note 3 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurements Using (in thousands) Balance at June 30, 2015 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Obserbable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Cash equivalents $ 7,208 $ 7,208 $ — $ — Total assets $ 7,208 $ 7,208 $ — $ — Liabilities Warrant liability $ 139 $ — $ — $ 139 Total liabilities $ 139 $ — $ — $ 139
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	(in thousands) Warrant liability Fair value of warrants at December 31, 2014 $ 173 Adjustment to fair value at June 30, 2015 (34 ) Total warrant liability at June 30, 2015 $ 139

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	(in thousands) June 30 , 201 5 December 31, 20 14 Raw materials and supplies $ 1,172 $ 260 Goods in process 184 184 Finished goods 96 77 Total inventory $ 1,452 $ 521

Note 6 - Warrant Liability (Tab

Note 6 - Warrant Liability (Tables)	6 Months Ended
	Jun. 30, 2015
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Schedule of Derivative Instruments [Table Text Block]	June 30, 2015 2014 Assumption Expected price volatility 75 % 70 % Expected term (in years) 1.01 2.01 Risk-free interest rate 0.29 % 0.48 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 0.04 $ 0.15

Note 7 - Stockholders' Equity (

Note 7 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	in thousands, except per share data) Warrants Weighted-Average Exercise Price Outstanding at December 31, 2014 4,925 $ 1.42 Warrants issued 21,861 $ 0.62 Outstanding at June 30, 2015 26,786 $ 0.81

Note 8 - Equity-based Compens23

Note 8 - Equity-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Note 8 - Equity-based Compensation (Tables) [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	(in thousands, except years and per share data) Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding at December 31, 2014 8,042 $ 1.53 6.3 23 Options granted 916 $ 0.69 Restricted stock units granted 156 $ — Options exercised (7 ) $ 0.56 Restricted stock units vested (147 ) $ — Options forfeited/cancelled (266 ) $ 1.60 Outstanding at June 30, 2015 8,694 $ 1.44 6.2 $ 20 Vested and expected to vest at June 30, 2015 8,440 $ 1.45 6.1 $ 16 Vested at June 30, 2015 6,437 $ 1.60 5.3 $ — Exercisable at June 30, 2015 6,437 $ 1.60 5.3 $ —
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2015 2014 2015 2014 Research and development $ 50 $ 49 $ 180 $ 125 General and administrative 342 198 497 399 Total stock-based compensation expense $ 392 $ 247 $ 677 $ 524
Employee [Member]
Note 8 - Equity-based Compensation (Tables) [Line Items]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six months ended June 30, Assumption 2015 2014 Expected price volatility 73 % 73 % Expected term (in years) 5.18 5.59 Risk-free interest rate 1.63 % 1.80 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 0.40 $ 0.70
Non-Employee [Member]
Note 8 - Equity-based Compensation (Tables) [Line Items]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, Assumption 2015 2014 Expected price volatility 79 % 79 % Expected term (in years) 9.15 8.56 Risk-free interest rate 2.02 % 2.42 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 0.64 $ 0.72

Note 10 - Segment Information (

Note 10 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2015 2014 2015 2014 Revenues: DermaBay (dermatology) $ - $ 4 $ - $ 5 EyeBay (ophthalology) 806 19 1,274 20 UroBay (urology) - 0 - 0 MediBay (wound care) 135 7 165 231 Other 67 93 107 155 $ 1,008 $ 123 $ 1,546 $ 411 Segment net income (loss) DermaBay (dermatology) $ (161 ) $ (330 ) $ (397 ) $ (605 ) EyeBay (ophthalology) (2,540 ) (1,423 ) (4,891 ) (3,202 ) UroBay (urology) (502 ) (722 ) (980 ) (1,219 ) MediBay (wound care) (1,469 ) (1,120 ) (2,835 ) (2,191 ) Other (187 ) (191 ) (471 ) (647 ) $ (4,859 ) $ (3,786 ) $ (9,520 ) $ (7,864 )
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2015 2014 2015 2014 Segment net loss $ (4,859 ) $ (3,786 ) $ (9,520 ) $ (7,864 ) Non-cash gain on change in fair value of warrants - 797 34 1,317 Other income (expenses), net (22 ) 57 (33 ) 50 Provision for income taxes (6 ) (10 ) (8 ) (10 ) Net loss $ (4,887 ) $ (2,942 ) $ (9,527 ) $ (6,507 )

Note 1 - Organization (Details)

Note 1 - Organization (Details)	1 Months Ended	6 Months Ended
	Aug. 31, 2007	Jun. 30, 2015
Disclosure Text Block [Abstract]
Number of Subsidiaries	2
Number of Operating Segments		4

Note 2 - Summary of Significa26

Note 2 - Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2015
Software Development [Member]
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Furniture and Fixtures [Member]
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Minimum [Member] | Equipment [Member]
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Maximum [Member] | Equipment [Member]
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Maximum [Member] | Leasehold Improvements [Member]
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	7 years

Note 2 - Summary of Significa27

Note 2 - Summary of Significant Accounting Policies (Details) - Reconciliation Between Basic Net Income (Loss) Per Share and Diluted Net Income (Loss) Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reconciliation Between Basic Net Income (Loss) Per Share and Diluted Net Income (Loss) Per Share [Abstract]
Net loss (in Dollars)	$ (4,887)	$ (2,942)	$ (9,527)	$ (6,507)
Basic and diluted loss per share (in Dollars per share)	$ (0.07)	$ (0.06)	$ (0.16)	$ (0.14)
Basic shares	66,331	50,767	60,384	48,067
Diluted shares	66,331	50,767	60,384	48,067

Note 2 - Summary of Significa28

Note 2 - Summary of Significant Accounting Policies (Details) - Outstanding Stock Options and Stock Warrants Excluded from the Diluted Net Loss Per Share Computation - shares shares in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	35,480	13,638
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	8,694	7,473
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	26,786	6,165

Note 3 - Fair Value Measureme29

Note 3 - Fair Value Measurements (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value Disclosures [Abstract]
Other Nonoperating Gains (Losses)	$ 0	$ 797,000	$ 34,000	$ 1,317,000

Note 3 - Fair Value Measureme30

Note 3 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis $ in Thousands	Jun. 30, 2015USD ($)
Assets
Cash equivalents	$ 7,208
Total assets	7,208
Liabilities
Other Liabilities	139
Derivative Financial Instruments, Liabilities [Member]
Liabilities
Other Liabilities	139
Fair Value, Inputs, Level 1 [Member]
Assets
Cash equivalents	7,208
Total assets	7,208
Liabilities
Other Liabilities	0
Fair Value, Inputs, Level 1 [Member] | Derivative Financial Instruments, Liabilities [Member]
Liabilities
Other Liabilities	0
Fair Value, Inputs, Level 2 [Member]
Liabilities
Other Liabilities	0
Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Liabilities [Member]
Liabilities
Other Liabilities	0
Fair Value, Inputs, Level 3 [Member]
Assets
Total assets	0
Liabilities
Other Liabilities	139
Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member]
Liabilities
Other Liabilities	$ 139

Note 3 - Fair Value Measureme31

Note 3 - Fair Value Measurements (Details) - Fair Value of Warrant Liability - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of warrants at December 31, 2014	$ 139,000		$ 139,000
Adjustment to fair value at June 30, 2015	0	$ (797,000)	(34,000)	$ (1,317,000)
Total warrant liability at June 30, 2015	$ 139,000		139,000
Warrant Fair Value [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of warrants at December 31, 2014					$ 173,000
Adjustment to fair value at June 30, 2015			$ (34,000)
Total warrant liability at June 30, 2015					$ 173,000

Note 4 - Inventory (Details) -

Note 4 - Inventory (Details) - Inventory - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Inventory [Abstract]
Raw materials and supplies	$ 1,172	$ 260
Goods in process	184	184
Finished goods	96	77
Total inventory	$ 1,452	$ 521

Note 5 - Commitments and Cont33

Note 5 - Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Operating Leases, Rent Expense	$ 224	$ 280	$ 480	$ 535

Note 6 - Warrant Liability (Det

Note 6 - Warrant Liability (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 05, 2012	Jul. 31, 2011	Jun. 30, 2015	Dec. 31, 2014	Mar. 31, 2014
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Warrants Issued (in Shares)		3,488,005
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 1.33	$ 0.81	$ 1.42	$ 1.56
Minimum Common Stock Closing Bid Price Per Share	$ 2.66
Proceeds from Warrant Exercises (in Dollars)	$ 1.5

Note 6 - Warrant Liability (D35

Note 6 - Warrant Liability (Details) - The Key Assumptions Used to Value the Warrants - Warrant Fair Value [Member] - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Assumption
Expected price volatility	75.00%	70.00%
Expected term (in years)	1 year 3 days	2 years 3 days
Risk-free interest rate	0.29%	0.48%
Dividend yield	0.00%	0.00%
Weighted-average fair value of warrants (in Dollars per share)	$ 0.04	$ 0.15

Note 7 - Stockholders' Equity36

Note 7 - Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	May. 22, 2015	Mar. 03, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Mar. 31, 2014	Jul. 31, 2011
Note 7 - Stockholders' Equity (Details) [Line Items]
Stock Issued During Period, Shares, New Issues			1,060,931
Proceeds from Issuance of Common Stock, Gross (in Dollars)			$ 881
Proceeds from Issuance of Common Stock (in Dollars)			810	$ 74
Payments of Stock Issuance Costs (in Dollars)			$ 71
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						1,400,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)			$ 0.81		$ 1.42	$ 1.56	$ 1.33
Private Placement [Member]
Note 7 - Stockholders' Equity (Details) [Line Items]
Proceeds from Issuance of Common Stock, Gross (in Dollars)	$ 6,900	$ 4,700
Proceeds from Issuance of Common Stock (in Dollars)	6,300	4,500
Payments of Stock Issuance Costs (in Dollars)	$ 600	$ 300
Units Issued During Period	10,893,648	9,273,332
Common Stock Shares Per Unit	1	1
Warrant Per Unit		2
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	5,446,824	16,413,798
Class of Warrant or Right, Exercise Term	6 months
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)	$ 0.78
Share-based Compensation Arrangement by Share-based Payment Award, Forced Conversion Price (in Dollars per share)	$ 1
Class of Warrant or Right, Convertible, Threshold Trading Days	10 days
Class of Warrants or Rights, Convertible, Threshold Consecutive Trading Days	20 days
Warrant Date of Issuance of Term	18 months
Proceeds from Issuance of Common Stock, Net (in Dollars)		$ 4,400
Stock Issued During Period, Value, New Issues (in Dollars)	$ 6,900
Warrants Per Unit	1
Unit Price (in Dollars per share)	$ 0.63
Class of Warrant or Right, Potential Proceeds from Full Exercise (in Dollars)	$ 4,200
Placement Agent [Member] | Private Placement [Member]
Note 7 - Stockholders' Equity (Details) [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		185,466
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)		$ 0.65
Warrant Date of Issuance of Term		60 months
Warrant 1 [Member] | Private Placement [Member]
Note 7 - Stockholders' Equity (Details) [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		9,273,332
Class of Warrant or Right, Exercise Term		6 months
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)		$ 0.60
Share-based Compensation Arrangement by Share-based Payment Award, Forced Conversion Price (in Dollars per share)		$ 1.10
Class of Warrant or Right, Convertible, Threshold Trading Days		10 years
Class of Warrants or Rights, Convertible, Threshold Consecutive Trading Days		20 days
Warrant Date of Issuance of Term		15 months
Warrant 2 [Member] | Private Placement [Member]
Note 7 - Stockholders' Equity (Details) [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		6,955,000
Class of Warrant or Right, Exercise Term		6 months
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)		$ 0.65

Note 7 - Stockholders' Equity37

Note 7 - Stockholders' Equity (Details) - Outstanding Warrants - 6 months ended Jun. 30, 2015 - $ / shares shares in Thousands	Total
Outstanding Warrants [Abstract]
Warrants outstanding	4,925
Warrants outstanding, weighted-average exercise price	$ 1.42
Warrants issued	21,861
Warrants issued	$ 0.62
Warrants outstanding	26,786
Warrants outstanding, weighted-average exercise price	$ 0.81

Note 8 - Equity-based Compens38

Note 8 - Equity-based Compensation (Details) - USD ($)	1 Months Ended	3 Months Ended			6 Months Ended
	Apr. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Note 8 - Equity-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					2 years 40 days
Proceeds from Stock Options Exercised						$ 6,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares)		0			7,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value				$ 26,000	$ 4,000	32,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 1,200,000			$ 1,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)					916,000
Allocated Share-based Compensation Expense		392,000		247,000	$ 677,000	$ 524,000
Employee [Member]
Note 8 - Equity-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)					626,000	574,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in Shares)					143,000	48,000
Allocated Share-based Compensation Expense		226,000		197,000	$ 677,000	$ 442,000
Non-Employee [Member]
Note 8 - Equity-based Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense		$ 92,000		$ 50,000	$ 111,000	$ 82,000
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued (in Shares)					291,000	193,000
Stock Issued During Period, Shares, Issued for Services (in Shares)					13,000	15,000
Exercised [Member]
Note 8 - Equity-based Compensation (Details) [Line Items]
Proceeds from Stock Options Exercised					$ 0
2007 Omnibus Incentive Plan [Member]
Note 8 - Equity-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares)		1,854,516			1,854,516
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent					100.00%
Share-based Compensation Arrangement by Share-based Payment Award, Threshold Purchase Price of Common Stock, Percent					10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					4 years
2007 Omnibus Incentive Plan [Member] | Shareholder of More Than 10% [Member]
Note 8 - Equity-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent					110.00%
Employee Stock Option [Member] | Mr. Cashion and Mr. Wicks [Member] | Director [Member]
Note 8 - Equity-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	4 years		3 months
Allocated Share-based Compensation Expense	$ 185,000

Note 8 - Equity-based Compens39

Note 8 - Equity-based Compensation (Details) - Stock Options Outstanding - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2014	Jun. 30, 2015	Jun. 30, 2015
Stock Options Outstanding [Abstract]
Outstanding Options	8,042,000
Outstanding Weighted-Average Exercise Price (in Dollars per share)	$ 1.53
Outstanding Weighted-Average Remaining Contractual Life	6 years 109 days		6 years 73 days
Outstanding Aggregate Intrinsic Value (in Dollars)	$ 23	$ 20	$ 20
Vested and expected to vest at June 30, 2015		8,440,000	8,440,000
Vested and expected to vest at June 30, 2015 (in Dollars per share)		$ 1.45	$ 1.45
Vested and expected to vest at June 30, 2015			6 years 36 days
Vested and expected to vest at June 30, 2015 (in Dollars)		$ 16	$ 16
Vested at June 30, 2015		6,437,000	6,437,000
Vested at June 30, 2015 (in Dollars per share)		$ 1.60	$ 1.60
Vested at June 30, 2015			5 years 109 days
Exercisable at June 30, 2015		6,437,000	6,437,000
Exercisable at June 30, 2015 (in Dollars per share)		$ 1.60	$ 1.60
Exercisable at June 30, 2015			5 years 109 days
Options granted			916,000
Options granted (in Dollars per share)			$ 0.69
Restricted stock units granted			156,000
Options exercised		0	(7,000)
Options exercised (in Dollars per share)			$ 0.56
Restricted stock units vested			(147,000)
Options forfeited/cancelled			(266,000)
Options forfeited/cancelled (in Dollars per share)			$ 1.60
Outstanding Options		8,694,000	8,694,000
Outstanding Weighted-Average Exercise Price (in Dollars per share)		$ 1.44	$ 1.44

Note 8 - Equity-based Compens40

Note 8 - Equity-based Compensation (Details) - The Weighted-average Assumptions Used in Determining the Value of Options Granted Employee - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
The Weighted-average Assumptions Used in Determining the Value of Options Granted Employee [Abstract]
Expected price volatility	73.00%	73.00%
Expected term (in years)	5 years 65 days	5 years 215 days
Risk-free interest rate	1.63%	1.80%
Dividend yield	0.00%	0.00%
Weighted-average fair value of options granted during the period (in Dollars per share)	$ 0.40	$ 0.70

Note 8 - Equity-based Compens41

Note 8 - Equity-based Compensation (Details) - The Weighted-average Assumptions Used in Determining the Value of Options Granted Non-employee - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Note 8 - Equity-based Compensation (Details) - The Weighted-average Assumptions Used in Determining the Value of Options Granted Non-employee [Line Items]
Expected price volatility	79.00%	79.00%
Expected term (in years)	9 years 54 days	8 years 204 days
Risk-free interest rate	2.02%	2.42%
Dividend yield	0.00%	0.00%
Weighted-average fair value of options granted during the period (in Dollars per share)	$ 0.40	$ 0.70
Non-Employee [Member]
Note 8 - Equity-based Compensation (Details) - The Weighted-average Assumptions Used in Determining the Value of Options Granted Non-employee [Line Items]
Weighted-average fair value of options granted during the period (in Dollars per share)	$ 0.64	$ 0.72

Note 8 - Equity-based Compens42

Note 8 - Equity-based Compensation (Details) - Summary of the Stock-based Compensation Expense Included in Results of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 392	$ 247	$ 677	$ 524
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	50	49	180	125
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 342	$ 198	$ 497	$ 399

Note 9 - License, Collaborati43

Note 9 - License, Collaboration and Distribution Agreements (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Galderma [Member]
Note 9 - License, Collaboration and Distribution Agreements (Details) [Line Items]
Deferred Revenue	$ 0	$ 0		$ 0
Revenue Recognition, Milestone Method, Revenue Recognized		4,250,000
Proceeds from Royalties Received		0
Virbac [Member]
Note 9 - License, Collaboration and Distribution Agreements (Details) [Line Items]
Deferred Revenue	246,000	246,000		246,000
Deferred Revenue, Revenue Recognized		0	$ 0
Neutrophase [Member]
Note 9 - License, Collaboration and Distribution Agreements (Details) [Line Items]
Deferred Revenue	2,200,000	2,200,000		$ 2,200,000
Avenova Distribution Agreements [Member]
Note 9 - License, Collaboration and Distribution Agreements (Details) [Line Items]
Contracts Revenue	$ 39,000	$ 343,000

Note 10 - Segment Information44

Note 10 - Segment Information (Details)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Number of Reportable Segments	4
Number of Operating Segments	4

Note 10 - Segment Information45

Note 10 - Segment Information (Details) - Segment Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment net income (loss)
Segment Net Income (Loss)	$ (4,859)	$ (3,786)	$ (9,520)	$ (7,864)
Operating Segments [Member]
Revenues:
Revenues	1,008	123	1,546	411
Dermatology [Member]
Revenues:
Revenues		4		5
Segment net income (loss)
Segment Net Income (Loss)	(161)	(330)	(397)	(605)
Ophthalmology [Member]
Revenues:
Revenues	806	19	1,274	20
Segment net income (loss)
Segment Net Income (Loss)	(2,540)	(1,423)	(4,891)	(3,202)
Urology [Member]
Revenues:
Revenues		0		0
Segment net income (loss)
Segment Net Income (Loss)	(502)	(722)	(980)	(1,219)
Wound Care [Member]
Revenues:
Revenues	135	7	165	231
Segment net income (loss)
Segment Net Income (Loss)	(1,469)	(1,120)	(2,835)	(2,191)
Other Segments [Member]
Revenues:
Revenues	67	93	107	155
Segment net income (loss)
Segment Net Income (Loss)	$ (187)	$ (191)	$ (471)	$ (647)

Note 10 - Segment Information46

Note 10 - Segment Information (Details) - A Reconciliation of Total Segment Net Loss to Consolidated Net Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
A Reconciliation of Total Segment Net Loss to Consolidated Net Loss [Abstract]
Segment net loss	$ (4,859,000)	$ (3,786,000)	$ (9,520,000)	$ (7,864,000)
Non-cash gain on change in fair value of warrants	0	797,000	34,000	1,317,000
Other income (expenses), net	(22,000)	57,000	(33,000)	50,000
Provision for income taxes	(6,000)	(10,000)	(8,000)	(10,000)
Net loss	$ (4,887,000)	$ (2,942,000)	$ (9,527,000)	$ (6,507,000)