Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | May 07, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001389545 | |
Entity Registrant Name | NOVABAY PHARMACEUTICALS, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-33678 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 68-0454536 | |
Entity Address, Address Line One | 2000 Powell Street, Suite 1150 | |
Entity Address, City or Town | Emeryville | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94608 | |
City Area Code | 510 | |
Local Phone Number | 899-8800 | |
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Trading Symbol | NBY | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Emerging Growth Company | false | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 2,728,824 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
ASSETS | ||
Cash and cash equivalents | $ 3,746 | $ 5,362 |
Accounts receivable, net of allowance for credit losses ($3 and $19 at March 31, 2023 and December 31, 2022, respectively) | 1,835 | 1,973 |
Inventory, net of allowance for excess and obsolete inventory and lower of cost or estimated net realizable value adjustments ($488 and $499 at March 31, 2023 and December 31, 2022, respectively) | 3,797 | 3,437 |
Prepaid expenses and other current assets | 516 | 560 |
Total current assets | 9,894 | 11,332 |
Operating lease right-of-use assets | 1,744 | 1,831 |
Property and equipment, net | 119 | 119 |
Goodwill | 348 | 348 |
Other intangible assets, net | 2,242 | 2,280 |
Other assets | 478 | 489 |
TOTAL ASSETS | 14,825 | 16,399 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Accounts payable | 1,148 | 1,080 |
Accrued liabilities | 2,809 | 2,724 |
Operating lease liabilities | 466 | 453 |
Total current liabilities | 4,423 | 4,257 |
Operating lease liabilities-non-current | 1,512 | 1,588 |
Total liabilities | 5,935 | 5,845 |
Commitments & contingencies (Note 10) | ||
Stockholders’ equity: | ||
Common stock, $0.01 par value; 150,000 shares authorized, 2,035 shares issued and outstanding at March 31, 2023 and December 31, 2022 | 652 | 652 |
Additional paid-in capital | 165,156 | 165,081 |
Accumulated deficit | (159,891) | (158,152) |
Total stockholders’ equity | 8,890 | 10,554 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 14,825 | 16,399 |
Series B Preferred Stock [Member] | ||
Stockholders’ equity: | ||
Preferred Stock | 570 | 570 |
Series C Preferred Stock [Member] | ||
Stockholders’ equity: | ||
Preferred Stock | $ 2,403 | $ 2,403 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Accounts receivable, allowance for doubtful accounts | $ 3 | $ 19 |
Inventory, allowance for excess and obsolete inventory and lower of cost or estimated net realizable value adjustments | $ 488 | $ 499 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, shares issued (in shares) | 2,035,000 | 2,035,000 |
Common stock, shares outstanding (in shares) | 2,035,000 | 2,035,000 |
Series B Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 12,000 | 12,000 |
Preferred stock, shares outstanding (in shares) | 12,000 | 12,000 |
Series C Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 2,000 | 2,000 |
Preferred stock, shares outstanding (in shares) | 2,000 | 2,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Sales: | ||
Total sales, net | $ 3,124 | $ 3,273 |
Product cost of goods sold | 1,188 | 1,459 |
Gross profit | 1,936 | 1,814 |
Operating expenses: | ||
Research and development | 26 | 28 |
Sales and marketing | 1,653 | 1,985 |
General and administrative | 1,991 | 2,183 |
Total operating expenses | 3,670 | 4,196 |
Operating loss | (1,734) | (2,382) |
Non-cash gain on changes in fair value of warrant liability | 0 | 2,056 |
Non-cash gain on changes in fair value of contingent liability | 0 | 219 |
Other expense, net | (5) | (4) |
Net loss | $ (1,739) | $ (111) |
Net loss per share attributable to common stockholders (basic and diluted) (in dollars per share) | $ (0.85) | $ (0.08) |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock (basic and diluted) (in shares) | 2,035 | 1,431 |
Product [Member] | ||
Sales: | ||
Total sales, net | $ 3,117 | $ 3,267 |
Product and Service, Other [Member] | ||
Sales: | ||
Total sales, net | $ 7 | $ 6 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 14 | 1,365 | |||
Balance at Dec. 31, 2021 | $ 680 | $ 478 | $ 150,900 | $ (141,887) | $ 10,171 |
Net Loss | (111) | (111) | |||
Stock-based compensation expense related to employee and director stock awards | $ 0 | $ 0 | 184 | 0 | 184 |
Balance (in shares) at Dec. 31, 2022 | 14 | 2,035 | |||
Balance at Dec. 31, 2022 | $ 2,973 | $ 652 | 165,081 | (158,152) | 10,554 |
Net Loss | 0 | 0 | 0 | (1,739) | (1,739) |
Stock-based compensation expense related to employee and director stock awards | $ 0 | $ 0 | $ 75 | $ 0 | $ 75 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Series B Private Placement Warrants [Member] Preferred Stock [Member] | Series B Private Placement Warrants [Member] Common Stock [Member] | Series B Private Placement Warrants [Member] Additional Paid-in Capital [Member] | Series B Private Placement Warrants [Member] Retained Earnings [Member] | Series B Private Placement Warrants [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 14 | 1,365 | ||||||||
Balance at Dec. 31, 2021 | $ 680 | $ 478 | $ 150,900 | $ (141,887) | $ 10,171 | |||||
Net Loss | (111) | (111) | ||||||||
Reclassification of Private Placement Warrants | $ 0 | $ 0 | $ 7,502 | $ 0 | $ 7,502 | |||||
Conversion of preferred stock to common stock (in shares) | (1) | 104 | ||||||||
Conversion of Series B Preferred Stock | $ (71) | $ (36) | (35) | 0 | 0 | |||||
Conversion of Series B Preferred Stock | 71 | 36 | 35 | 0 | 0 | |||||
Stock-based compensation expense related to employee and director stock awards | $ 0 | $ 0 | 184 | 0 | 184 | |||||
Balance (in shares) at Mar. 31, 2022 | 13 | 1,469 | ||||||||
Balance at Mar. 31, 2022 | $ 609 | $ 514 | 158,621 | (141,998) | 17,746 | |||||
Balance (in shares) at Dec. 31, 2022 | 14 | 2,035 | ||||||||
Balance at Dec. 31, 2022 | $ 2,973 | $ 652 | 165,081 | (158,152) | 10,554 | |||||
Net Loss | 0 | 0 | 0 | (1,739) | (1,739) | |||||
Stock-based compensation expense related to employee and director stock awards | $ 0 | $ 0 | 75 | 0 | 75 | |||||
Balance (in shares) at Mar. 31, 2023 | 14 | 2,035 | ||||||||
Balance at Mar. 31, 2023 | $ 2,973 | $ 652 | $ 165,156 | $ (159,891) | $ 8,890 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating activities: | ||
Net loss | $ (1,739) | $ (111) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation of property and equipment | 13 | 30 |
Amortization of intangible assets | 38 | 91 |
Non-cash gain on changes in fair value of warrant liability | 0 | (2,056) |
Non-cash gain on changes in fair value of contingent liability | 0 | (219) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 138 | (632) |
Inventory | (360) | (565) |
Prepaid expenses and other current assets | 44 | 26 |
Operating lease right-of-use assets | 87 | (1,920) |
Other assets | 3 | (8) |
Accounts payable and accrued liabilities | 153 | 1,182 |
Operating lease liabilities | (63) | 1,941 |
Net cash used in operating activities | (1,611) | (2,057) |
Investing activities: | ||
Purchases of property and equipment | (13) | (24) |
Net cash used in investing activities | (13) | (24) |
Financing activities: | ||
Payment on the line of credit | 0 | (105) |
Net cash used in financing activities | 0 | (105) |
Net change in cash, cash equivalents, and restricted cash | (1,624) | (2,186) |
Cash, cash equivalents and restricted cash, beginning of year | 5,846 | 7,979 |
Cash, cash equivalents and restricted cash, end of period | 4,222 | 5,793 |
Supplemental disclosure of cash flow information: | ||
Interest paid | 5 | 4 |
Warrant liability transferred to equity | 0 | 7,502 |
Addition of operating lease, right-of-use asset | 0 | 2,039 |
Conversion of Series B Preferred Stock | 0 | |
Employees and Directors [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation expense related to employee and director stock awards | 75 | 184 |
Conversion of Series B Preferred Stock to Common Stock [Member] | ||
Supplemental disclosure of cash flow information: | ||
Conversion of Series B Preferred Stock | $ 0 | $ 71 |
Note 1 - Organization
Note 1 - Organization | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. ORGANIZATION NovaBay Pharmaceuticals, Inc. (the “Company”) develops and sells scientifically-created and clinically-proven eyecare, skincare and wound care products. Our leading product, Avenova® Antimicrobial Lid and Lash Solution, or Avenova Spray, is proven in laboratory testing to have broad antimicrobial properties as it removes foreign material including microorganisms and debris from the skin around the eye, including the eyelid. Avenova Spray is formulated with our proprietary, stable and pure form of hypochlorous acid and is cleared by the FDA for sale in the United States. Avenova Spray is available direct to consumers primarily through online distribution channels and is also available by prescription and dispensed by eyecare professionals for blepharitis and dry-eye disease. Other eyecare products offered under the Avenova eyecare brand include Novawipes by Avenova, Avenova Lubricant Eye Drops, Avenova Moist Heating Eye Compress, and the i-Chek eyelid and eyelash mirror by Avenova. Through our subsidiary DERMAdoctor, LLC (“DERMAdoctor”), the Company offers over 30 November 2021 ( The Company also manufactures and sells its proprietary form of hypochlorous acid for the wound care market through our NeutroPhase and PhaseOne branded products. NeutroPhase and PhaseOne are used for the cleansing and irrigation as part of surgical procedures, as well as treating certain wounds, burns, ulcers and other injuries. The Company currently sells these products through distributors. The Company was incorporated under the laws of the State of California on January 19, 2000, no July 1, 2002, February 2007, June 2010, 1 2 Effective November 15, 2022, 1 12, 1 35 Liquidity and Going Concern Based primarily on the funds available on March 31, 2023 2023 March 31, 2023 18, second 2024. 2023 2023 may may 19 The Company’s long-term liquidity needs will be largely determined by the success of commercialization efforts. To address the Company’s current liquidity and capital needs, the Company has and continues to evaluate different plans and strategic transactions to fund operations, including: ( 1 2 one 3 4 may may 1 3 not may |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. Basis of Presentation The accompanying unaudited condensed 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. In management’s opinion, the unaudited condensed consolidated financial statements include all normal and recurring adjustments that are considered necessary for the fair presentation of the Company’s financial position and operating results. 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 unaudited condensed consolidated financial statements and accompanying notes. These estimates include contract liabilities related to product sales such as product returns, assumptions for valuing warrants, the fair value of contingent consideration, intangible assets, goodwill, stock-based compensation, income taxes and other contingencies. These estimates are based on management’s best estimates and judgment. Actual results may Unaudited Condensed Consolidated Interim Financial Information The accompanying unaudited condensed consolidated financial statements and related disclosures have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only recurring adjustments, necessary for a fair presentation. The year-end condensed consolidated balance sheet data was derived from the audited consolidated financial statements but does not not The condensed consolidated financial statements and notes included herein should be read in conjunction with the annual consolidated financial statements and notes for the year ended December 31, 2022, 10 December 31, 2022, March 31, 2023. Change in Accounting and Revision of Prior Period Financial Statements During the third 2022, third no not While reviewing its accounting policy for fulfillment fees during the third 2022, third third 2022, 2022 first second 2021 no not Cash, Cash Equivalents, and Restricted Cash The Company considers all highly-liquid instruments with a stated maturity of three March 31, 2023 December 31, 2022, The following table provides a reconciliation of the cash, cash equivalents, and restricted cash reported in the condensed consolidated balance sheets (in thousands): March 31, December 31, 2023 2022 Cash and cash equivalents $ 3,746 $ 5,362 Restricted cash included in other assets 476 484 Total cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows $ 4,222 $ 5,846 The restricted cash amount included in other assets on the condensed consolidated balance sheets represents amounts held as certificates of deposit for long-term financing and lease arrangements as contractually required by our financial institution and landlord. Concentrations of Credit Risk and Major Partners Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. The Company maintains deposits of cash, cash equivalents and restricted cash with a major financial institution in the United States. The Company has a significant amount of its cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. During the three March 31, 2023 2022, During the three March 31, 2023 2022, For the three Months Ended March 31, 2023 2022 Avenova Spray $ 1,937 $ 1,839 DERMAdoctor 785 1,043 NeutroPhase — 148 Other products 395 237 Total product revenue, net 3,117 3,267 Other revenue, net 7 6 Total sales, net $ 3,124 $ 3,273 During the three March 31, 2023 2022, No 10% three March 31, 2023 2022. As of March 31, 2023 December 31, 2022, 10% March 31, December 31, Major distribution partner 2023 2022 Avenova Spray Pharmacy Distributor A 35 % 30 % Major U.S. Retailer A 15 % * % Major U.S. Retailer B 12 % * % Major U.S. Retailer C * % 15 % Avenova Spray Pharmacy Distributor B * % 11 % * Less than 10% The Company relies on seven not third may may not may Fair Value of Financial Assets and Liabilities The Company’s financial instruments include cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities, warrant liabilities, and contingent consideration. The Company’s 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. The Company follows ASC 820, Fair Value Measurements and Disclosures three may Level 1 Level 2 Level 3 Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Allowance for Credit Losses The Company maintains an allowance for estimated losses resulting from the inability of its customers to meet their financial obligations to the Company. The Company recognizes an allowance for credit losses based on factors such as historical experience, contract terms and general and market business conditions. The Company’s future collection experience can differ significantly from historical collection trends due to such factors as changing customer circumstances and uncertain economic and industry trends. Management recorded a reserve for allowance for credit losses of $3 thousand and $19 thousand as of March 31, 2023 December 31, 2022, Inventory Inventory is comprised of ( 1 2 3 first first March 31, 2023 December 31, 2022, Property and Equipment, net Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets of five seven three five five seven The costs of normal maintenance, repairs, and minor replacements are expensed as incurred. Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of the consideration transferred over the estimated fair value of assets acquired and liabilities assumed in a business combination. Intangible assets are measured at their respective fair values as of the acquisition date and may may one not The Company did not three March 31, 2023 2022. Valuation of Contingent Consideration Resulting from a Business Combination In connection with certain acquisitions, including the DERMAdoctor Acquisition, the Company may Increases or decreases in fair value of the contingent consideration liabilities can result from updates to assumptions such as the expected timing or probability of achieving the specified milestones. Significant judgment is employed in determining these assumptions as of the acquisition date and for each subsequent period. Updates to assumptions could have a significant impact on the Company’s results of operations in any given period. Actual results may DERMAdoctor Acquisition milestone events consist of financial targets for calendar years 2022 2023. not 2022. not 2023. zero March 31, 2023 December 31, 2022. Long-Lived Assets The Company’s intangible assets that do not 360, Property, Plant and Equipment may may not no not The Company did not three March 31, 2023 2022. Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not may The Company has elected to combine lease and non-lease components as a single component for all leases in which it is a lessee or a lessor. The lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the consolidated balance sheet as right-of-use assets, operating lease liabilities current and operating lease liabilities non-current. Revenue Recognition Revenue is recognized from the sale of goods in accordance with ASC 606, Revenue from Contracts with Customers 606, 606, five 606: i. identify the contract(s) with a customer; ii. identify the performance obligations in the contract; iii. determine the transaction price; iv. allocate the transaction price to the performance obligations in the contract; and v. recognize revenue when (or as) the entity satisfies performance obligations. Revenue is generated through the Company’s webstores, Avenova.com and DERMAdoctor.com, for Avenova and DERMAdoctor products. Such direct to consumer sales are recognized upon fulfillment, which generally occurs upon delivery of the related products to a third Revenue generated through third third The Company pays third third 2022, third 2022, Prior to the third 2022, third not third 2022, third 2022, not not Prior to the third 2022, third 2022, third 2022 2022 2021 2021 2020 no not Financial statement line items included in the condensed consolidated statements of operations for the three March 31, 2022 For the Three Months Ended March 31, 2022 As Previously Reported Selling Commissions Fulfillment Fees As Revised Sales Product revenue, net $ 2,623 $ 298 $ 346 $ 3,267 Product cost of goods sold Product cost of goods sold 1,113 - 346 1,459 Operating expenses Sales and marketing 1,687 298 - 1,985 Net loss (111 ) - - (111 ) Net loss per share attributable to common stockholders (basic and diluted) (0.08 ) - - (0.08 ) The Company also generates Avenova Spray revenue through major pharmacy distribution partners. Product supply of Avenova Spray is the only performance obligation contained in these arrangements, and the Company recognizes product revenue upon transfer of control to its major distribution partners at the amount of consideration that the Company expects to be entitled to, generally upon delivery to the distributor on a “sell-in” basis. Upon recognition of product sales, contract liabilities are recorded for invoiced amounts that are subject to reversal, including product revenue allowances for cash consideration paid to customers for services, discounts, rebate programs, and product returns. The Company derives its rate of return and other contract liabilities from historical data and updates its assumptions quarterly. Payment for product supply is typically due 30 days after control transfers to the distributor. Revenue for products sales to Costco is recognized upon transfer of control at the amount of consideration that the Company expects to be entitled to, generally upon delivery to Costco. Upon recognition of product sales, contract liabilities are recorded for invoiced amounts that are subject to reversal, including discounts and product returns. The Company derives its rate of return from historical data and updates its return rate assumption quarterly. Payment for product supply is typically due 30 days after control transfers to Costco. Revenue generated through the Company’s partner pharmacies is recognized when control of the product transfers to the end customer. Revenue for product sales to other retailers, such as CVS, is generally recognized upon transfer of control to the retailer, which generally occurs upon delivery of the products to a third The Company may March 31, 2023 December 31, 2022, Cost of Goods Sold Cost of goods sold includes third third Research and Development Costs The Company charges research and development costs to expense as incurred. These costs include all costs associated with research, development and regulatory activities, including submissions to the Food and Drug Administration (the “FDA”). 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 condensed consolidated statements of operations. Advertising Costs Advertising costs are expensed in the period in which the costs are incurred. Advertising costs are included in sales and marketing expenses in the condensed consolidated statements of operations. Advertising expenses were $326 thousand and $617 thousand for the three March 31, 2023 2022, Stock-Based Compensation The Company’s stock-based compensation includes grants of stock options and RSUs to employees, consultants and non-employee directors. The expense associated with these grants is recognized in the Company’s unaudited condensed consolidated statements of operations based on their fair values as they are earned under the applicable vesting terms. For stock options granted, the fair value of the stock options is estimated using a Black-Scholes option pricing model. See Note 13, 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 not Common Stock Warrants The Company accounts for common stock purchase warrants issued in connection with its equity offerings in accordance with the provisions of ASC 480, Distinguishing Liabilities from Equity 815, Derivatives and Hedging The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company), (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement) or (iii) do not For warrants that are classified as liabilities, the Company records the fair value of the warrants at each balance sheet date and records changes in the estimated fair value as a non-cash gain or loss in the condensed consolidated statements of operations. The fair values of these warrants are determined using the Black-Scholes option pricing model, the Binomial Lattice (“Lattice”) valuation model, or the Monte Carlo simulation model where deemed appropriate. These values are subject to a significant degree of management’s judgment. Net Loss per Share The Company computes net loss per share by presenting both basic and diluted earnings (loss) per share (“EPS”). Basic EPS is computed by dividing net loss available to common stockholders 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. In computing diluted EPS, the average stock price for the period is used to determine 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 if their effect would be anti-dilutive. The following table sets forth the calculation of basic EPS and diluted EPS (in thousands, except per share amounts): Three Months Ended March 31, Numerator 2023 2022 Net loss $ (1,739 ) $ (111 ) Denominator Weighted average shares of common stock outstanding (basic and diluted) 2,035 1,431 Net loss per share attributable to common stockholders (basic and diluted) $ (0.85 ) $ (0.08 ) For the three March 31, 2023 2022, not The following outstanding stock options and stock warrants were excluded from the diluted EPS computation as their effect would have been anti-dilutive (in thousands): Three Months Ended March 31, 2023 2022 Stock options 121 126 Stock warrants 2,306 1,274 2,427 1,400 Recent Accounting Pronouncements For information regarding recent accounting pronouncements that could affect our business, results of operations, financial condition, and liquidity, see Note 2, 10 December 31, 2022, March 31, 2023. In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13” 2016 13 2016 13 January 1, 2023. January 1, 2023, not |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 3. The Company’s cash equivalents are classified within Level 1 1 The following table presents the Company’s cash equivalent assets measured at fair value on a recurring basis as of March 31, 2023 ( Fair Value Measurements Using Quoted Prices in Active Significant Markets Other Significant Balance at for Identical Observable Unobservable March 31, Items Inputs Inputs 2023 (Level 1) (Level 2) (Level 3) Assets Restricted cash held as a certificate of deposit $ 324 $ 324 $ — $ — Deposit held as a certificate of deposit 152 152 — — Total assets $ 476 $ 476 $ — $ — The following table presents the Company’s cash equivalent assets measured at fair value on a recurring basis as of December 31, 2022 ( Fair Value Measurements Using Quoted Prices in Active Significant Markets Other Significant Balance at for Identical Observable Unobservable December 31, Items Inputs Inputs 2022 (Level 1) (Level 2) (Level 3) Assets Restricted cash held as a certificate of deposit $ 332 $ 332 $ — $ — Deposit held as a certificate of deposit 152 152 — — Total assets $ 484 $ 484 $ — $ — |
Note 4 - Prepaid Expenses and O
Note 4 - Prepaid Expenses and Other Current Assets | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Prepaid Expenses and Other Current Assets [Text Block] | NOTE 4. Prepaid expenses and other current assets consisted of the following (in thousands): March 31, December 31, 2023 2022 Prepaid inventory $ 122 $ 211 Prepaid insurance 119 146 Prepaid dues and subscriptions 99 43 Prepaid marketing costs 40 24 Prepaid patents 4 12 Tenant allowance — 11 Other 132 113 Total prepaid expenses and other current assets $ 516 $ 560 |
Note 5 - Inventory
Note 5 - Inventory | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 5. Inventory consisted of the following (in thousands): March 31, December 31, 2023 2022 Raw materials and supplies $ 1,080 $ 1,273 Finished goods 3,205 2,663 Less: Reserve for excess and obsolete inventory (488 ) (499 ) Total inventory, net $ 3,797 $ 3,437 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6. Property and equipment consisted of the following (in thousands): March 31, December 31, 2023 2022 Office and laboratory equipment $ 20 $ 20 Furniture and fixtures 157 157 Computer equipment and software 425 412 Leasehold improvements 152 152 Total property and equipment, at cost 754 741 Less: accumulated depreciation (635 ) (622 ) Total property and equipment, net $ 119 $ 119 Depreciation expense was $13 thousand and $30 thousand for the three March 31, 2023 2022, |
Note 7 - Other Intangible Asset
Note 7 - Other Intangible Assets | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 7. Other intangible assets consist of the following (in thousands): Balance at March 31, 2023 Accumulated Gross Amortization Impairment Net Indefinite-lived intangible assets Trade names $ 2,080 $ — $ (970 ) $ 1,110 Amortizable intangible assets Customer relationships $ 290 $ (51 ) $ (172 ) $ 67 Trade secrets / product formulations 2,890 (410 ) (1,415 ) 1,065 Total other intangible assets $ 5,260 $ (461 ) $ (2,557 ) $ 2,242 Balance at December 31, 2022 Accumulated Gross Amortization Impairment Net Indefinite-lived intangible assets Trade names $ 2,080 $ — $ (970 ) $ 1,110 Amortizable intangible assets Customer relationships $ 290 $ (48 ) $ (172 ) $ 70 Trade secrets / product formulations 2,890 (375 ) (1,415 ) 1,100 Total other intangible assets $ 5,260 $ (423 ) $ (2,557 ) $ 2,280 In the fourth 2022, fourth 2022, not three March 31, 2023 2022. Amortization expense was $38 thousand and $91 thousand for the three March 31, 2023 2022, March 31, 2023, 2023 $ 114 2024 153 2025 152 2026 153 Thereafter 560 Total $ 1,132 |
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 8. Accrued liabilities consisted of the following (in thousands): March 31, December 31, 2023 2022 Contract liabilities (see Note 14) $ 1,864 $ 1,807 Employee payroll and benefits 402 261 Marketing costs 49 104 Inventory purchases 14 101 Other 480 451 Total accrued liabilities $ 2,809 $ 2,724 |
Note 9 - Line of Credit
Note 9 - Line of Credit | 3 Months Ended |
Mar. 31, 2023 | |
Line of Credit [Member] | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 9. At the time of the DERMAdoctor Acquisition, DERMAdoctor had a line of credit agreement with Bank Midwest for $500 thousand. As of March 31, 2023 December 31, 2022, March 31, 2022. |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 10. Indemnification Agreements As permitted under Delaware law and in accordance with its bylaws, the Company indemnifies its officers and directors for certain events or occurrences while the officer or director is or was serving at the Company’s 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 and officer insurance policy that limits its exposure and may not March 31, 2023 December 31, 2022. In the normal course of business, the Company provides indemnification of varying scope under its agreements with other entities, typically its clinical research organizations, investigators, clinical sites, suppliers, and others. Pursuant to these agreements, it generally indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified parties in connection with the 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 not March 31, 2023 December 31, 2022. Legal Matters As of March 31, 2023 December 31, 2022, no Leases The Company leases office space for its corporate headquarters located in Emeryville, California. The initial lease term was scheduled to expire on February 28, 2022, January 19, 2022, July 31, 2027. The Company is also party to a lease for 19,136 square feet of space located in Riverside, Missouri, which it utilizes for light manufacturing, storage, distribution of products and administrative functions. The lease commenced on October 1, 2019 December 31, 2024. In calculating the present value of the minimum lease payments, the Company utilized its incremental borrowing rate. The Company has elected to account for each lease component and its associated non-lease components as a single lease component and has allocated all of the contract consideration across lease components only. This will potentially result in the initial and subsequent measurement of the balances of the right-of-use assets and lease liability for leases being greater than if the policy election was not not The components of lease expense for the three March 31, 2023 2022 Lease Costs Three Months Ended March 31, 2023 2022 Operating lease cost $ 130 $ 134 Net lease cost $ 130 $ 134 Other information Operational cash flow used for operating leases $ 106 $ 111 The Company has measured its operating lease liabilities at its incremental borrowing rate over the remaining term for each operating lease. The weighted average remaining lease term and the weighted average discount rate are summarized as follows: Three Months Ended March 31, 2023 2022 Weighted-average remaining lease term (in years) 4.0 5.0 Weighted-average discount rate 5 % 5 % Future lease payments under non-cancelable leases as of March 31, 2023 2023 $ 437 2024 557 2025 439 2026 444 2027 290 Total future minimum lease payments 2,167 Less imputed interest (189 ) Total $ 1,978 Reported as: Operating lease liabilities $ 466 Operating lease liabilities- non-current 1,512 Total $ 1,978 |
Note 11 - Warrant Liability
Note 11 - Warrant Liability | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | NOTE 11. See additional discussion of the terms of the Company’s various warrants and related transactions in Note 12, 12, September 2022 The September 2022 September 9, 2022, 2022 September 2022 not November 10, 2022. 480, Distinguishing Liabilities from Equity September 2022 The fair value of the September 2022 September 9, 2022 Expected price volatility 79.6 % Expected term (in years) 6.0 Risk-free interest rate 3.43 % Dividend yield 0.0 % Weighted-average fair value of warrants $ 4.55 The fair value of the September 2022 November 10, 2022 Expected price volatility 79.5 % Expected term (in years) 5.8 Risk-free interest rate 3.93 % Dividend yield 0.0 % Weighted-average fair value of warrants $ 1.40 November 2021 The November 2021 November 2, 2021, 2021 November 2021 September 2022 2022 The November 2021 not January 31, 2022. 480, Distinguishing Liabilities from Equity November 2021 As of December 31, 2021 November 2021 Expected price volatility 87 % Expected term (in years) 6.0 Risk-free interest rate 1.31 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 8.75 As of January 31, 2022, November 2021 Expected price volatility 91 % Expected term (in years) 6.0 Risk-free interest rate 1.65 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 7.00 Unexercised November 2021 September 9, 2022, 2022 November 2021 no November 10, 2022. 480, Distinguishing Liabilities from Equity November 2021 The fair value of these November 2021 September 9, 2022 Expected price volatility 79.6 % Expected term (in years) 6.0 Risk-free interest rate 3.43 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 4.55 As of November 10, 2022, November 2021 Expected price volatility 79.5 % Expected term (in years) 5.8 Risk-free interest rate 3.93 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 1.40 Amended July 2020 On September 9, 2022, 2022 July 2020 July 2020 no November 10, 2022. 480, Distinguishing Liabilities from Equity July 2020 The fair value of these Amended July 2020 September 9, 2022 Expected price volatility 79.6 % Expected term (in years) 3.4 Risk-free interest rate 3.58 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 3.50 As of November 10, 2022, July 2020 Expected price volatility 79.5 % Expected term (in years) 3.2 Risk-free interest rate 4.15 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 1.05 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | NOTE 12. Common Stock and Preferred Stock Under the Company’s Amended and Restated Certificate of Incorporation, as amended, the Company is authorized to issue up to 150,000,000 shares of common stock and up to 5,000,000 shares of preferred stock (with rights and preferences as may Reverse Stock Split Effective November 15, 2022, 1 November 10, 2022. 35 1 not 35 35. 1 2022 November 2021 July 2020 September 2022 On September 9, 2022, 2022 November 2021 July 2020 November 2021 July 2020 not March 9, 2023; November 2021 September 11, 2028 ( November 2021 July 2020 November 2021 September 11, 2028. July 2020 January 22, 2026. As a result of these amendments to the Amended November 2021 July 2020 $1.9 November 2021 July 2020 November 2021 July 2020 November 2021 Warrants July 2020 Warrants Expected price volatility 79.6 % 79.6 % Expected term (in years) 5.4 3.4 Risk-free interest rate 3.43 % 3.58 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 3.15 $ 0.70 The fair value of the Amended November 2021 July 2020 November 2021 Warrants July 2020 Warrants Expected price volatility 79.6 % 79.6 % Expected term (in years) 6.0 3.4 Risk-free interest rate 3.43 % 3.58 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 4.55 $ 3.50 Additionally, in connection with the 2022 2022 November 2021 July 2020 “September 2022 100% November 2021 July 2020 September 2022 September 11, 2028. The 2022 November 2021 July 2020 September 2022 November 2021 July 2020 September 2022 11 , Ladenburg Thalmann & Co. Inc. (“Ladenburg”) served as the Company’s warrant solicitation agent for the 2022 2022 third 2022 . Series C Preferred Stock, Short-Term Warrants and Long-Term Warrants Concurrent with the 2022 September 9, 2022, “2022 1 2 2 May 20, 2024 ( 3 1 November 20, 2028 ( “2022 2022 November 10, 2022), November 18, 2022, 2022 2022 The Series C Preferred Stock does not Series B Preferred Stock and November 2021 On October 29, 2021, 2021 November 2021 2021 November 2, 2021. November 2021 January 31, 2022, six 6 The Series B Preferred Stock does not Each share of the Series B Preferred Stock that the Company issued in the 2021 37,500,000 not September 9, 2022, 2022 September 2022 not not third 2022. 820, 1 2 Expected price volatility 79.6 % Expected term (in years) 1.3 Risk-free interest rate 3.64 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 8.05 The fair value of the Series B Preferred Stock was determined to be $12.5 Expected price volatility 79.6 % Expected term (in years) 1.3 Risk-free interest rate 3.64 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 2.10 Thereafter, the Company effected the Reverse Stock Split, which resulted in an automatic adjustment to the conversion price for each outstanding share of the Series B Preferred Stock to $6.30, 159 As of March 31, 2023, March 31, 2023, 18. On September 9, 2022, 2022 November 2021 September 11, 2028. 2022 November 2021 March 31, 2023, November 2021 Common Stock Common Stock Warrants In addition to the Amended July 2020 November 2021 September 2022 2022 2019 In 2019, “2019 2019 August 8, 2024. July 2020 In 2020, “July 2020 July 2020 March 31, 2023, July 2020 not July 2020 January 22, 2026. TLF Bio Innovation 2021 In 2021, January 15, 2026. Summary of Warrants Outstanding The details of all outstanding warrants as of March 31, 2023 December 31, 2022 Warrants (in thousands) Weighted- Average Exercise Price Outstanding at December 31, 2022 2,306 $ 7.70 Warrants granted — $ — Warrants expired — $ — Outstanding at March 31, 2023 2,306 $ 7.70 |
Note 13 - Equity-based Compensa
Note 13 - Equity-based Compensation | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 13. Equity Compensation Plans In October 2007, 2007 “2007 2007 March 15, 2017. 2007 2007 no ten 2007 December 31, 2020. In March 2017, 2017 “2017 June 2, 2017, 2017 not 2007 2017 first January 1, 2018 January 1, 2027 4 2017 March 31, 2023, 2017 March 31, 2023, 2017 Under the terms of the 2017 may not not not ten not five 10% four 2007 2017 Summary of Outstanding Equity Awards The following table summarizes information about the Company’s equity awards outstanding at March 31, 2023 March 31, 2023: (in thousands, except years and per share data) Awards Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding at December 31, 2022 132 $ 37.99 7.5 $ 69 Options granted 4 $ 1.80 Options forfeited/cancelled (5 ) $ 59.45 Restricted stock units cancelled (7 ) — Outstanding at March 31, 2023 124 $ 38.34 7.3 $ 48 Vested and expected to vest at March 31, 2023 95 $ 49.23 6.9 $ 9 Vested at March 31, 2023 66 $ 65.02 6.1 $ — Exercisable at March 31, 2023 66 $ 65.02 6.1 $ — The aggregate intrinsic value in the table above 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 American as of March 31, 2023 three March 31, 2023 2022. no three March 31, 2023 2022. As of March 31, 2023, Equity 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 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, During the three March 31, 2023 2022, The weighted-average assumptions used in determining the value of options are as follows: Three Months Ended March 31, Assumption 2023 2022 Expected price volatility 154.49 % 160.47 % Expected term (in years) 6.66 6.45 Risk-free interest rate 3.41 % 1.63 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 2.37 $ 10.21 Expected Price Volatility Expected Term Risk-Free Interest Rate Dividend Yield not 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. During the three March 31, 2023 2022, not For the three March 31, 2023 2022, Summary of Stock-Based Compensation Expense A summary of the stock-based compensation expense included in results of operations for the options and restricted stock awards discussed above is as follows (in thousands): Three Months Ended March 31, 2023 2022 Research and development $ 6 $ 4 Sales and marketing 15 12 General and administrative 54 168 Total stock-based compensation expense $ 75 $ 184 |
Note 14 - Distribution Agreemen
Note 14 - Distribution Agreements | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
License, Collaboration, and Distribution Agreements [Text Block] | NOTE 14. Transactions under the Company’s major distribution agreements are recognized upon transfer of control of product sold to its major distribution partners at the amount of consideration that the Company expects to be entitled to. The Company records contract liabilities for the amounts that are estimated to be subject to significant reversal, including allowances for services, discounts, rebate programs, and product returns. Product Sales Discounts and Allowances The following table presents activities and ending reserve balances for each significant category of discounts and allowance, which constitute variable consideration for the three March 31, 2023 ( Product Returns, Discounts for Prompt Payment Other Customer Fees Rebates Total Balance at December 31, 2022 $ 1,673 $ 53 $ 81 $ 1,807 Provision related to sales made in current period 254 21 401 676 Payments and customer credits issued (188 ) (8 ) (423 ) (619 ) Balance at March 31, 2023 $ 1,739 $ 66 $ 59 $ 1,864 Avenova Spray Pharmacy Distribution Agreements and Specialty Pharmacies Avenova Spray is made available in local pharmacies and major pharmacy retail chains under nationwide distribution agreements with McKesson Corporation, Cardinal Health and AmerisourceBergen. The Company has also entered into direct agreements with preferred pharmacy networks as part of our Partner Pharmacy Program. During the three March 31, 2023, three March 31, 2022 Under these product distribution arrangements, the Company had a contract liability balance of $1.5 million as of March 31, 2023 December 31, 2022. March 31, 2023, December 31, 2022, 4, Over-the-Counter Sales of Avenova Spray Avenova Spray is offered for sale direct to U.S. customers primarily on Amazon.com, the Company’s website (Avenova.com), Walmart.com, select CVS stores and online on CVS.com. During the three March 31, 2023 2022, DERMAdoctor Products Distribution Agreements DERMAdoctor products are sold through distribution arrangements with third three March 31, 2023 2022, Under these distribution arrangements, the Company had a contract liability balance of $0.3 million as of March 31, 2023, December 31, 2022. |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plan | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE 15. The Company has a 401 first three March 31, 2023 2022, |
Note 16 - Related Party Transac
Note 16 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 16. Related Party Revenue The following table summarizes information about the Company’s related party revenue and cost of goods sold (in thousands): Three Months Ended March 31, 2023 2022 Related party revenue: NeutroPhase $ — $ 148 Total related party revenue $ — $ 148 Cost of goods sold: NeutroPhase $ — $ (134 ) Total related party expenses $ — $ (134 ) Related party accounts receivable was zero and $0.2 million as of March 31, 2023 December 31, 2022, |
Note 17 - Segment Reporting
Note 17 - Segment Reporting | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 17. The Company’s chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer, allocates resources and assesses performance based on financial information of the Company. The CODM reviews financial information presented for each reportable segment for purposes of making operating decisions and assessing financial performance. Prior to the DERMAdoctor Acquisition in November 2021, 1 2 Select financial information for each segment is as follows: Three Months Three Months Ended Percentage Ended Percentage March 31, of Total Sales, March 31, of Total Sales, 2023 Net 2022 Net Eyecare & Wound Care $ 2,339 75 % $ 2,230 68 % Skincare 785 25 % 1,043 32 % Total sales, net $ 3,124 100 % $ 3,273 100 % Three Months Three Months Ended Percentage Ended Percentage March 31, of Total March 31, of Total 2023 Operating Loss 2022 Operating Loss Eyecare & Wound Care $ (1,335 ) 77 % $ (2,039 ) 86 % Skincare (399 ) 23 % (343 ) 14 % Total operating loss $ (1,734 ) 100 % $ (2,382 ) 100 % |
Note 18 - Subsequent Events
Note 18 - Subsequent Events | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 18. The Company has evaluated all subsequent events through the filing date of this Form 10 March 31, 2023 , not no 2023 On April 27, 2023, “2023 November 1, 2024 ( may 1 five 2 two “2023 2023 May 1, 2023 ( 2023 Due to the number of shares of common stock that may 2023 713 713 sixty 60 2023 2023 not At any time after issuance, the Debentures are convertible by the holder, in whole or in part, into shares of common stock at a conversion price equal to $1.30 per share (“Conversion Price”), subject to limitations upon conversion including the Issuable Maximum. Under the terms of the Debentures, the Company is required to make a monthly redemption of the Debentures (“Monthly Redemption”) beginning on June 1, 2023 1/18th If any event of default occurs, the outstanding principal amount of the Debentures, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the holder’s election, immediately due and payable in cash. Commencing five April 27, 2023 ( Warrant Amendments In connection with the closing of the 2023 Anti-Dilution Adjustment to Series B Preferred Stock and the Series C Preferred Stock The Certificate of Designation of Preferences, Rights and Limitations for the Company’s outstanding Series B Preferred Stock (the “Series B Certificate of Designation”) and the Certificate of Designation of Preferences, Rights and Limitations for the Company’s outstanding Series C Preferred Stock (the “Series C Certificate of Designation”) provides for anti-dilution protections in the event that the Company grants any right to reprice any Company security or issue a new Company security that would entitle the holder to acquire Common Stock at an effective price per share that is lower than the conversion price of the Series B Preferred Stock and the Series C Preferred Stock, which is referred to as “full-ratchet” anti-dilution protection. As a result of the consummation of the 2023 2023 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed 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. In management’s opinion, the unaudited condensed consolidated financial statements include all normal and recurring adjustments that are considered necessary for the fair presentation of the Company’s financial position and operating results. |
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 unaudited condensed consolidated financial statements and accompanying notes. These estimates include contract liabilities related to product sales such as product returns, assumptions for valuing warrants, the fair value of contingent consideration, intangible assets, goodwill, stock-based compensation, income taxes and other contingencies. These estimates are based on management’s best estimates and judgment. Actual results may |
Unaudited Interim Financial Information, Policy [Policy Text Block] | Unaudited Condensed Consolidated Interim Financial Information The accompanying unaudited condensed consolidated financial statements and related disclosures have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only recurring adjustments, necessary for a fair presentation. The year-end condensed consolidated balance sheet data was derived from the audited consolidated financial statements but does not not The condensed consolidated financial statements and notes included herein should be read in conjunction with the annual consolidated financial statements and notes for the year ended December 31, 2022, 10 December 31, 2022, March 31, 2023. |
Reclassification, Comparability Adjustment [Policy Text Block] | Change in Accounting and Revision of Prior Period Financial Statements During the third 2022, third no not While reviewing its accounting policy for fulfillment fees during the third 2022, third third 2022, 2022 first second 2021 no not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, Cash Equivalents, and Restricted Cash The Company considers all highly-liquid instruments with a stated maturity of three March 31, 2023 December 31, 2022, The following table provides a reconciliation of the cash, cash equivalents, and restricted cash reported in the condensed consolidated balance sheets (in thousands): March 31, December 31, 2023 2022 Cash and cash equivalents $ 3,746 $ 5,362 Restricted cash included in other assets 476 484 Total cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows $ 4,222 $ 5,846 The restricted cash amount included in other assets on the condensed consolidated balance sheets represents amounts held as certificates of deposit for long-term financing and lease arrangements as contractually required by our financial institution and landlord. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk and Major Partners Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. The Company maintains deposits of cash, cash equivalents and restricted cash with a major financial institution in the United States. The Company has a significant amount of its cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. During the three March 31, 2023 2022, During the three March 31, 2023 2022, For the three Months Ended March 31, 2023 2022 Avenova Spray $ 1,937 $ 1,839 DERMAdoctor 785 1,043 NeutroPhase — 148 Other products 395 237 Total product revenue, net 3,117 3,267 Other revenue, net 7 6 Total sales, net $ 3,124 $ 3,273 During the three March 31, 2023 2022, No 10% three March 31, 2023 2022. As of March 31, 2023 December 31, 2022, 10% March 31, December 31, Major distribution partner 2023 2022 Avenova Spray Pharmacy Distributor A 35 % 30 % Major U.S. Retailer A 15 % * % Major U.S. Retailer B 12 % * % Major U.S. Retailer C * % 15 % Avenova Spray Pharmacy Distributor B * % 11 % * Less than 10% The Company relies on seven not third may may not may |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Assets and Liabilities The Company’s financial instruments include cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities, warrant liabilities, and contingent consideration. The Company’s 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. The Company follows ASC 820, Fair Value Measurements and Disclosures three may Level 1 Level 2 Level 3 Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Credit Losses The Company maintains an allowance for estimated losses resulting from the inability of its customers to meet their financial obligations to the Company. The Company recognizes an allowance for credit losses based on factors such as historical experience, contract terms and general and market business conditions. The Company’s future collection experience can differ significantly from historical collection trends due to such factors as changing customer circumstances and uncertain economic and industry trends. Management recorded a reserve for allowance for credit losses of $3 thousand and $19 thousand as of March 31, 2023 December 31, 2022, |
Inventory, Policy [Policy Text Block] | Inventory Inventory is comprised of ( 1 2 3 first first March 31, 2023 December 31, 2022, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment, net Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets of five seven three five five seven The costs of normal maintenance, repairs, and minor replacements are expensed as incurred. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of the consideration transferred over the estimated fair value of assets acquired and liabilities assumed in a business combination. Intangible assets are measured at their respective fair values as of the acquisition date and may may one not The Company did not three March 31, 2023 2022. |
Valuation of Contingent Consideration from Business Combination Policy [Policy Text Block] | Valuation of Contingent Consideration Resulting from a Business Combination In connection with certain acquisitions, including the DERMAdoctor Acquisition, the Company may Increases or decreases in fair value of the contingent consideration liabilities can result from updates to assumptions such as the expected timing or probability of achieving the specified milestones. Significant judgment is employed in determining these assumptions as of the acquisition date and for each subsequent period. Updates to assumptions could have a significant impact on the Company’s results of operations in any given period. Actual results may DERMAdoctor Acquisition milestone events consist of financial targets for calendar years 2022 2023. not 2022. not 2023. zero March 31, 2023 December 31, 2022. |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long-Lived Assets The Company’s intangible assets that do not 360, Property, Plant and Equipment may may not no not The Company did not three March 31, 2023 2022. |
Lessee, Leases [Policy Text Block] | Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not may The Company has elected to combine lease and non-lease components as a single component for all leases in which it is a lessee or a lessor. The lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the consolidated balance sheet as right-of-use assets, operating lease liabilities current and operating lease liabilities non-current. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Revenue is recognized from the sale of goods in accordance with ASC 606, Revenue from Contracts with Customers 606, 606, five 606: i. identify the contract(s) with a customer; ii. identify the performance obligations in the contract; iii. determine the transaction price; iv. allocate the transaction price to the performance obligations in the contract; and v. recognize revenue when (or as) the entity satisfies performance obligations. Revenue is generated through the Company’s webstores, Avenova.com and DERMAdoctor.com, for Avenova and DERMAdoctor products. Such direct to consumer sales are recognized upon fulfillment, which generally occurs upon delivery of the related products to a third Revenue generated through third third The Company pays third third 2022, third 2022, Prior to the third 2022, third not third 2022, third 2022, not not Prior to the third 2022, third 2022, third 2022 2022 2021 2021 2020 no not Financial statement line items included in the condensed consolidated statements of operations for the three March 31, 2022 For the Three Months Ended March 31, 2022 As Previously Reported Selling Commissions Fulfillment Fees As Revised Sales Product revenue, net $ 2,623 $ 298 $ 346 $ 3,267 Product cost of goods sold Product cost of goods sold 1,113 - 346 1,459 Operating expenses Sales and marketing 1,687 298 - 1,985 Net loss (111 ) - - (111 ) Net loss per share attributable to common stockholders (basic and diluted) (0.08 ) - - (0.08 ) The Company also generates Avenova Spray revenue through major pharmacy distribution partners. Product supply of Avenova Spray is the only performance obligation contained in these arrangements, and the Company recognizes product revenue upon transfer of control to its major distribution partners at the amount of consideration that the Company expects to be entitled to, generally upon delivery to the distributor on a “sell-in” basis. Upon recognition of product sales, contract liabilities are recorded for invoiced amounts that are subject to reversal, including product revenue allowances for cash consideration paid to customers for services, discounts, rebate programs, and product returns. The Company derives its rate of return and other contract liabilities from historical data and updates its assumptions quarterly. Payment for product supply is typically due 30 days after control transfers to the distributor. Revenue for products sales to Costco is recognized upon transfer of control at the amount of consideration that the Company expects to be entitled to, generally upon delivery to Costco. Upon recognition of product sales, contract liabilities are recorded for invoiced amounts that are subject to reversal, including discounts and product returns. The Company derives its rate of return from historical data and updates its return rate assumption quarterly. Payment for product supply is typically due 30 days after control transfers to Costco. Revenue generated through the Company’s partner pharmacies is recognized when control of the product transfers to the end customer. Revenue for product sales to other retailers, such as CVS, is generally recognized upon transfer of control to the retailer, which generally occurs upon delivery of the products to a third The Company may March 31, 2023 December 31, 2022, |
Cost of Goods Sold [Policy Text Block] | Cost of Goods Sold Cost of goods sold includes third third |
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 all costs associated with research, development and regulatory activities, including submissions to the Food and Drug Administration (the “FDA”). |
Patent 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 condensed consolidated statements of operations. |
Advertising Cost [Policy Text Block] | Advertising Costs Advertising costs are expensed in the period in which the costs are incurred. Advertising costs are included in sales and marketing expenses in the condensed consolidated statements of operations. Advertising expenses were $326 thousand and $617 thousand for the three March 31, 2023 2022, |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company’s stock-based compensation includes grants of stock options and RSUs to employees, consultants and non-employee directors. The expense associated with these grants is recognized in the Company’s unaudited condensed consolidated statements of operations based on their fair values as they are earned under the applicable vesting terms. For stock options granted, the fair value of the stock options is estimated using a Black-Scholes option pricing model. See Note 13, |
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 not |
Warrant Liabilities [Policy Text Block] | Common Stock Warrants The Company accounts for common stock purchase warrants issued in connection with its equity offerings in accordance with the provisions of ASC 480, Distinguishing Liabilities from Equity 815, Derivatives and Hedging The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company), (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement) or (iii) do not For warrants that are classified as liabilities, the Company records the fair value of the warrants at each balance sheet date and records changes in the estimated fair value as a non-cash gain or loss in the condensed consolidated statements of operations. The fair values of these warrants are determined using the Black-Scholes option pricing model, the Binomial Lattice (“Lattice”) valuation model, or the Monte Carlo simulation model where deemed appropriate. These values are subject to a significant degree of management’s judgment. |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Share The Company computes net loss per share by presenting both basic and diluted earnings (loss) per share (“EPS”). Basic EPS is computed by dividing net loss available to common stockholders 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. In computing diluted EPS, the average stock price for the period is used to determine 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 if their effect would be anti-dilutive. The following table sets forth the calculation of basic EPS and diluted EPS (in thousands, except per share amounts): Three Months Ended March 31, Numerator 2023 2022 Net loss $ (1,739 ) $ (111 ) Denominator Weighted average shares of common stock outstanding (basic and diluted) 2,035 1,431 Net loss per share attributable to common stockholders (basic and diluted) $ (0.85 ) $ (0.08 ) For the three March 31, 2023 2022, not The following outstanding stock options and stock warrants were excluded from the diluted EPS computation as their effect would have been anti-dilutive (in thousands): Three Months Ended March 31, 2023 2022 Stock options 121 126 Stock warrants 2,306 1,274 2,427 1,400 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements For information regarding recent accounting pronouncements that could affect our business, results of operations, financial condition, and liquidity, see Note 2, 10 December 31, 2022, March 31, 2023. In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13” 2016 13 2016 13 January 1, 2023. January 1, 2023, not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | March 31, December 31, 2023 2022 Cash and cash equivalents $ 3,746 $ 5,362 Restricted cash included in other assets 476 484 Total cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows $ 4,222 $ 5,846 |
Schedules of Concentration of Risk, by Product [Table Text Block] | For the three Months Ended March 31, 2023 2022 Avenova Spray $ 1,937 $ 1,839 DERMAdoctor 785 1,043 NeutroPhase — 148 Other products 395 237 Total product revenue, net 3,117 3,267 Other revenue, net 7 6 Total sales, net $ 3,124 $ 3,273 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | March 31, December 31, Major distribution partner 2023 2022 Avenova Spray Pharmacy Distributor A 35 % 30 % Major U.S. Retailer A 15 % * % Major U.S. Retailer B 12 % * % Major U.S. Retailer C * % 15 % Avenova Spray Pharmacy Distributor B * % 11 % |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | For the Three Months Ended March 31, 2022 As Previously Reported Selling Commissions Fulfillment Fees As Revised Sales Product revenue, net $ 2,623 $ 298 $ 346 $ 3,267 Product cost of goods sold Product cost of goods sold 1,113 - 346 1,459 Operating expenses Sales and marketing 1,687 298 - 1,985 Net loss (111 ) - - (111 ) Net loss per share attributable to common stockholders (basic and diluted) (0.08 ) - - (0.08 ) |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, Numerator 2023 2022 Net loss $ (1,739 ) $ (111 ) Denominator Weighted average shares of common stock outstanding (basic and diluted) 2,035 1,431 Net loss per share attributable to common stockholders (basic and diluted) $ (0.85 ) $ (0.08 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended March 31, 2023 2022 Stock options 121 126 Stock warrants 2,306 1,274 2,427 1,400 |
Note 3 - Fair Value Measureme_2
Note 3 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Quoted Prices in Active Significant Markets Other Significant Balance at for Identical Observable Unobservable March 31, Items Inputs Inputs 2023 (Level 1) (Level 2) (Level 3) Assets Restricted cash held as a certificate of deposit $ 324 $ 324 $ — $ — Deposit held as a certificate of deposit 152 152 — — Total assets $ 476 $ 476 $ — $ — Fair Value Measurements Using Quoted Prices in Active Significant Markets Other Significant Balance at for Identical Observable Unobservable December 31, Items Inputs Inputs 2022 (Level 1) (Level 2) (Level 3) Assets Restricted cash held as a certificate of deposit $ 332 $ 332 $ — $ — Deposit held as a certificate of deposit 152 152 — — Total assets $ 484 $ 484 $ — $ — |
Note 4 - Prepaid Expenses and_2
Note 4 - Prepaid Expenses and Other Current Assets (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | March 31, December 31, 2023 2022 Prepaid inventory $ 122 $ 211 Prepaid insurance 119 146 Prepaid dues and subscriptions 99 43 Prepaid marketing costs 40 24 Prepaid patents 4 12 Tenant allowance — 11 Other 132 113 Total prepaid expenses and other current assets $ 516 $ 560 |
Note 5 - Inventory (Tables)
Note 5 - Inventory (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, December 31, 2023 2022 Raw materials and supplies $ 1,080 $ 1,273 Finished goods 3,205 2,663 Less: Reserve for excess and obsolete inventory (488 ) (499 ) Total inventory, net $ 3,797 $ 3,437 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, December 31, 2023 2022 Office and laboratory equipment $ 20 $ 20 Furniture and fixtures 157 157 Computer equipment and software 425 412 Leasehold improvements 152 152 Total property and equipment, at cost 754 741 Less: accumulated depreciation (635 ) (622 ) Total property and equipment, net $ 119 $ 119 |
Note 7 - Other Intangible Ass_2
Note 7 - Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Balance at March 31, 2023 Accumulated Gross Amortization Impairment Net Indefinite-lived intangible assets Trade names $ 2,080 $ — $ (970 ) $ 1,110 Amortizable intangible assets Customer relationships $ 290 $ (51 ) $ (172 ) $ 67 Trade secrets / product formulations 2,890 (410 ) (1,415 ) 1,065 Total other intangible assets $ 5,260 $ (461 ) $ (2,557 ) $ 2,242 Balance at December 31, 2022 Accumulated Gross Amortization Impairment Net Indefinite-lived intangible assets Trade names $ 2,080 $ — $ (970 ) $ 1,110 Amortizable intangible assets Customer relationships $ 290 $ (48 ) $ (172 ) $ 70 Trade secrets / product formulations 2,890 (375 ) (1,415 ) 1,100 Total other intangible assets $ 5,260 $ (423 ) $ (2,557 ) $ 2,280 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2023 $ 114 2024 153 2025 152 2026 153 Thereafter 560 Total $ 1,132 |
Note 8 - Accrued Liabilities (T
Note 8 - Accrued Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, December 31, 2023 2022 Contract liabilities (see Note 14) $ 1,864 $ 1,807 Employee payroll and benefits 402 261 Marketing costs 49 104 Inventory purchases 14 101 Other 480 451 Total accrued liabilities $ 2,809 $ 2,724 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Lease Costs Three Months Ended March 31, 2023 2022 Operating lease cost $ 130 $ 134 Net lease cost $ 130 $ 134 Other information Operational cash flow used for operating leases $ 106 $ 111 Three Months Ended March 31, 2023 2022 Weighted-average remaining lease term (in years) 4.0 5.0 Weighted-average discount rate 5 % 5 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | 2023 $ 437 2024 557 2025 439 2026 444 2027 290 Total future minimum lease payments 2,167 Less imputed interest (189 ) Total $ 1,978 Reported as: Operating lease liabilities $ 466 Operating lease liabilities- non-current 1,512 Total $ 1,978 |
Note 11 - Warrant Liability (Ta
Note 11 - Warrant Liability (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | Expected price volatility 79.6 % Expected term (in years) 6.0 Risk-free interest rate 3.43 % Dividend yield 0.0 % Weighted-average fair value of warrants $ 4.55 Expected price volatility 79.5 % Expected term (in years) 5.8 Risk-free interest rate 3.93 % Dividend yield 0.0 % Weighted-average fair value of warrants $ 1.40 Expected price volatility 87 % Expected term (in years) 6.0 Risk-free interest rate 1.31 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 8.75 Expected price volatility 91 % Expected term (in years) 6.0 Risk-free interest rate 1.65 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 7.00 Expected price volatility 79.6 % Expected term (in years) 6.0 Risk-free interest rate 3.43 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 4.55 Expected price volatility 79.5 % Expected term (in years) 5.8 Risk-free interest rate 3.93 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 1.40 Expected price volatility 79.6 % Expected term (in years) 3.4 Risk-free interest rate 3.58 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 3.50 Expected price volatility 79.5 % Expected term (in years) 3.2 Risk-free interest rate 4.15 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 1.05 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Fair Value Assumptions of Warrants [Table Text Block] | November 2021 Warrants July 2020 Warrants Expected price volatility 79.6 % 79.6 % Expected term (in years) 5.4 3.4 Risk-free interest rate 3.43 % 3.58 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 3.15 $ 0.70 November 2021 Warrants July 2020 Warrants Expected price volatility 79.6 % 79.6 % Expected term (in years) 6.0 3.4 Risk-free interest rate 3.43 % 3.58 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 4.55 $ 3.50 |
Schedule of Preferred Stock Assumptions [Table Text Block] | Expected price volatility 79.6 % Expected term (in years) 1.3 Risk-free interest rate 3.64 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 8.05 Expected price volatility 79.6 % Expected term (in years) 1.3 Risk-free interest rate 3.64 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 2.10 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrants (in thousands) Weighted- Average Exercise Price Outstanding at December 31, 2022 2,306 $ 7.70 Warrants granted — $ — Warrants expired — $ — Outstanding at March 31, 2023 2,306 $ 7.70 |
Note 13 - Equity-based Compen_2
Note 13 - Equity-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | (in thousands, except years and per share data) Awards Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding at December 31, 2022 132 $ 37.99 7.5 $ 69 Options granted 4 $ 1.80 Options forfeited/cancelled (5 ) $ 59.45 Restricted stock units cancelled (7 ) — Outstanding at March 31, 2023 124 $ 38.34 7.3 $ 48 Vested and expected to vest at March 31, 2023 95 $ 49.23 6.9 $ 9 Vested at March 31, 2023 66 $ 65.02 6.1 $ — Exercisable at March 31, 2023 66 $ 65.02 6.1 $ — |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2023 2022 Research and development $ 6 $ 4 Sales and marketing 15 12 General and administrative 54 168 Total stock-based compensation expense $ 75 $ 184 |
Employees and Directors [Member] | |
Notes Tables | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended March 31, Assumption 2023 2022 Expected price volatility 154.49 % 160.47 % Expected term (in years) 6.66 6.45 Risk-free interest rate 3.41 % 1.63 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 2.37 $ 10.21 |
Note 14 - Distribution Agreem_2
Note 14 - Distribution Agreements (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Product Returns, Discounts for Prompt Payment Other Customer Fees Rebates Total Balance at December 31, 2022 $ 1,673 $ 53 $ 81 $ 1,807 Provision related to sales made in current period 254 21 401 676 Payments and customer credits issued (188 ) (8 ) (423 ) (619 ) Balance at March 31, 2023 $ 1,739 $ 66 $ 59 $ 1,864 |
Note 16 - Related Party Trans_2
Note 16 - Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three Months Ended March 31, 2023 2022 Related party revenue: NeutroPhase $ — $ 148 Total related party revenue $ — $ 148 Cost of goods sold: NeutroPhase $ — $ (134 ) Total related party expenses $ — $ (134 ) |
Note 17 - Segment Reporting (Ta
Note 17 - Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Three Months Ended Percentage Ended Percentage March 31, of Total Sales, March 31, of Total Sales, 2023 Net 2022 Net Eyecare & Wound Care $ 2,339 75 % $ 2,230 68 % Skincare 785 25 % 1,043 32 % Total sales, net $ 3,124 100 % $ 3,273 100 % Three Months Three Months Ended Percentage Ended Percentage March 31, of Total March 31, of Total 2023 Operating Loss 2022 Operating Loss Eyecare & Wound Care $ (1,335 ) 77 % $ (2,039 ) 86 % Skincare (399 ) 23 % (343 ) 14 % Total operating loss $ (1,734 ) 100 % $ (2,382 ) 100 % |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) | 3 Months Ended | |
Nov. 15, 2022 | Mar. 31, 2023 | |
Number of Reportable Segments | 2 | |
Reverse Stock Split [Member] | ||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 35 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Accounts Receivable, Allowance for Credit Loss | $ 3 | $ 19 | |
Inventory Valuation Reserves | 488 | $ 499 | 499 |
Goodwill and Intangible Asset Impairment | 0 | 0 | |
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | 970 | $ 970 | |
Impairment, Long-Lived Asset, Held-for-Use | $ 0 | 0 | |
Payment for Product Supply Period (Day) | 30 days | ||
Deferred Revenue | $ 307 | 4 | |
Advertising Expense | 326 | $ 617 | |
Trade Names [Member] | |||
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | $ 0 | ||
Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 7 years | ||
Computer Equipment and Software [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Computer Equipment and Software [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Furniture and Fixtures [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 7 years | ||
Revenue from Contract with Customer Benchmark [Member] | Distributor Concentration Risk [Member] | Avenova Spray [Member] | |||
Concentration Risk, Percentage | 75% | 82% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Components of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents | $ 3,746 | $ 5,362 | ||
Restricted cash included in other assets | 476 | 484 | ||
Total cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows | $ 4,222 | $ 5,846 | $ 5,793 | $ 7,979 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Total sales, net | $ 3,124 | $ 3,273 |
Avenova Spray [Member] | ||
Total sales, net | 1,937 | 1,839 |
DERMAdoctor [Member] | ||
Total sales, net | 785 | 1,043 |
NeutroPhase [Member] | ||
Total sales, net | 0 | 148 |
Other Products [member] | ||
Total sales, net | 395 | 237 |
Total Product Revenue [Member] | ||
Total sales, net | 3,117 | 3,267 |
Product and Service, Other [Member] | ||
Total sales, net | $ 7 | $ 6 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Revenues and Accounts Receivable from Major Distribution Partners and Customers (Details) - Customer Concentration Risk [Member] - Accounts Receivable [Member] | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Distributor A [Member] | ||
Accounts receivable, concentration risk | 35% | 30% |
Major U.S. Retailer A [Member] | ||
Accounts receivable, concentration risk | 15% | |
Major U.S. Retailer C [Member] | ||
Accounts receivable, concentration risk | 15% |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies - Revision of Prior Period (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Product revenue, net | $ 3,124 | $ 3,273 |
Product cost of goods sold | 1,188 | 1,459 |
Sales and marketing | 1,653 | 1,985 |
Net loss | $ (1,739) | $ (111) |
Net loss per share attributable to common stockholders (basic and diluted) (in dollars per share) | $ (0.85) | $ (0.08) |
Previously Reported [Member] | ||
Product cost of goods sold | $ 1,113 | |
Sales and marketing | 1,687 | |
Net loss | $ (111) | |
Net loss per share attributable to common stockholders (basic and diluted) (in dollars per share) | $ (0.08) | |
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | Change in Accounting for Selling Commissions [Member] | ||
Product cost of goods sold | $ 0 | |
Sales and marketing | 298 | |
Net loss | $ 0 | |
Net loss per share attributable to common stockholders (basic and diluted) (in dollars per share) | $ 0 | |
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | Change in Accounting for Fulfillment Fees [Member] | ||
Product cost of goods sold | $ 346 | |
Sales and marketing | 0 | |
Net loss | $ 0 | |
Net loss per share attributable to common stockholders (basic and diluted) (in dollars per share) | $ 0 | |
Product [Member] | ||
Product revenue, net | $ 3,117 | $ 3,267 |
Product [Member] | Previously Reported [Member] | ||
Product revenue, net | 2,623 | |
Product [Member] | Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | Change in Accounting for Selling Commissions [Member] | ||
Product revenue, net | 298 | |
Product [Member] | Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | Change in Accounting for Fulfillment Fees [Member] | ||
Product revenue, net | $ 346 |
Note 2 - Summary of Significa_8
Note 2 - Summary of Significant Accounting Policies - Calculation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net loss | $ (1,739) | $ (111) |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock (basic and diluted) (in shares) | 2,035 | 1,431 |
Net loss per share attributable to common stockholders (basic and diluted) (in dollars per share) | $ (0.85) | $ (0.08) |
Note 2 - Summary of Significa_9
Note 2 - Summary of Significant Accounting Policies - Outstanding Stock Options and Stock Warrants Excluded from the Diluted Net Loss Per Share Computation (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Anti-dilutive securities (in shares) | 2,427 | 1,400 |
Share-Based Payment Arrangement, Option [Member] | ||
Anti-dilutive securities (in shares) | 121 | 126 |
Warrant [Member] | ||
Anti-dilutive securities (in shares) | 2,306 | 1,274 |
Note 3 - Fair Value Measureme_3
Note 3 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Restricted cash held as a certificate of deposit | $ 324 | $ 332 |
Deposit held as a certificate of deposit | 152 | 152 |
Total assets | 476 | 484 |
Fair Value, Inputs, Level 1 [Member] | ||
Restricted cash held as a certificate of deposit | 324 | 332 |
Deposit held as a certificate of deposit | 152 | 152 |
Total assets | 476 | $ 484 |
Fair Value, Inputs, Level 2 [Member] | ||
Restricted cash held as a certificate of deposit | 0 | |
Deposit held as a certificate of deposit | 0 | |
Total assets | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Restricted cash held as a certificate of deposit | 0 | |
Deposit held as a certificate of deposit | 0 | |
Total assets | $ 0 |
Note 4 - Prepaid Expenses and_3
Note 4 - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Prepaid inventory | $ 122 | $ 211 |
Prepaid insurance | 119 | 146 |
Prepaid dues and subscriptions | 99 | 43 |
Prepaid marketing costs | 40 | 24 |
Prepaid patents | 4 | 12 |
Tenant allowance | 0 | 11 |
Other | 132 | 113 |
Total prepaid expenses and other current assets | $ 516 | $ 560 |
Note 5 - Inventory - Summary of
Note 5 - Inventory - Summary of Inventory (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
Raw materials and supplies | $ 1,080 | $ 1,273 | |
Finished goods | 3,205 | 2,663 | |
Less: Reserve for excess and obsolete inventory | (488) | $ (499) | (499) |
Total inventory, net | $ 3,797 | $ 3,437 | $ 3,437 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Depreciation, Depletion and Amortization | $ 13 | $ 30 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Property and equipment, at cost | $ 754 | $ 741 |
Less: accumulated depreciation | (635) | (622) |
Total property and equipment, net | 119 | 119 |
Office and Laboratory Equipment [Member] | ||
Property and equipment, at cost | 20 | 20 |
Furniture and Fixtures [Member] | ||
Property and equipment, at cost | 157 | 157 |
Computer Equipment and Software [Member] | ||
Property and equipment, at cost | 425 | 412 |
Leasehold Improvements [Member] | ||
Property and equipment, at cost | $ 152 | $ 152 |
Note 7 - Other Intangible Ass_3
Note 7 - Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 2,557 | $ 2,557 | |
Amortization of Intangible Assets | 38 | $ 91 | |
Other Intangible Assets [Member] | |||
Impairment of Intangible Assets (Excluding Goodwill), Total | 0 | $ 0 | |
DERMAdoctor [Member] | Goodwill and Intangible Asset Impairment [Member] | |||
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 2,600 |
Note 7 - Other Intangible Ass_4
Note 7 - Other Intangible Assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Trade names, gross | $ 2,080 | $ 2,080 |
Trade names, impairment | (970) | (970) |
Trade names, net | 1,110 | 1,110 |
Amortizable intangible assets, accumulated amortization | (461) | (423) |
Amortizable intangible assets, net | 1,132 | |
Total other intangible assets | 5,260 | 5,260 |
Total other intangible assets, impairment | (2,557) | (2,557) |
Total other intangible assets, net | 2,242 | 2,280 |
Customer Relationships [Member] | ||
Amortizable intangible assets, gross | 290 | 290 |
Amortizable intangible assets, accumulated amortization | (51) | (48) |
Amortizable intangible assets, impairment | (172) | (172) |
Amortizable intangible assets, net | 67 | 70 |
Trade Secrets [Member] | ||
Amortizable intangible assets, gross | 2,890 | 2,890 |
Amortizable intangible assets, accumulated amortization | (410) | (375) |
Amortizable intangible assets, impairment | (1,415) | (1,415) |
Amortizable intangible assets, net | $ 1,065 | $ 1,100 |
Note 7 - Other Intangible Ass_5
Note 7 - Other Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands | Mar. 31, 2023 USD ($) |
2023 | $ 114 |
2024 | 153 |
2025 | 152 |
2026 | 153 |
Thereafter | 560 |
Total | $ 1,132 |
Note 8 - Accrued Liabilities -
Note 8 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
Contract liabilities (see Note 14) | $ 1,864 | $ 1,807 | |
Employee payroll and benefits | 402 | 261 | |
Marketing costs | 49 | 104 | |
Inventory purchases | 14 | 101 | |
Other | 480 | 451 | |
Total accrued liabilities | $ 2,809 | $ 2,724 | $ 2,724 |
Note 9 - Line of Credit (Detail
Note 9 - Line of Credit (Details Textual) - Line of Credit [Member] - Bank Midwest [Member] - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 500 | |
Long-Term Line of Credit | $ 0 | $ 0 |
Note 10 - Commitments and Con_3
Note 10 - Commitments and Contingencies (Details Textual) | Mar. 31, 2023 ft² |
Riverside, Missouri [Member] | |
Area of Real Estate Property (Square Foot) | 19,136 |
Note 10 - Commitments and Con_4
Note 10 - Commitments and Contingencies - Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Operating lease cost | $ 130 | $ 134 | |
Net lease cost | 130 | 134 | |
Operational cash flow used for operating leases | $ 106 | $ 111 | |
Weighted-average remaining lease term (in years) (Year) | 4 years | 5 years | |
Weighted-average discount rate | 5% | 5% |
Note 10 - Commitments and Con_5
Note 10 - Commitments and Contingencies - Schedule of Future Lease Payments (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
2023 | $ 437 | |
2024 | 557 | |
2025 | 439 | |
2026 | 444 | |
2027 | 290 | |
Total future minimum lease payments | 2,167 | |
Less imputed interest | (189) | |
Total | 1,978 | |
Operating lease liabilities | 466 | $ 453 |
Operating lease liabilities- non-current | 1,512 | $ 1,588 |
Total | $ 1,978 |
Note 11 - Warrant Liability (De
Note 11 - Warrant Liability (Details Textual) - USD ($) | Mar. 31, 2023 | Nov. 10, 2022 | Sep. 09, 2022 | Jan. 31, 2022 | Dec. 31, 2021 |
September 2022 Warrants [Member] | |||||
Warrants and Rights Outstanding | $ 500,000 | $ 1,400,000 | |||
The November 2021 Warrants [Member] | |||||
Warrants and Rights Outstanding | $ 1,300,000 | $ 7,500,000 | $ 9,600,000 | ||
The Amended November 2021 Warrants [Member] | |||||
Warrants and Rights Outstanding | $ 3.5 | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 803,574 | ||||
Amended July 2020 Warrants [Member] | |||||
Warrants and Rights Outstanding | $ 100,000 | $ 300,000 | |||
Class of Warrant or Right, Outstanding, Accounting for Subsequent Stock Split (in shares) | 77,145 |
Note 11 - Warrant Liability - T
Note 11 - Warrant Liability - The Key Assumptions Used to Value the Warrants (Details) | Nov. 10, 2022 | Sep. 09, 2022 | Sep. 08, 2022 | Jan. 31, 2022 | Nov. 02, 2021 |
Measurement Input, Price Volatility [Member] | September 2022 Warrants [Member] | |||||
Warrants assumptions | 0.795 | 0.796 | |||
Measurement Input, Price Volatility [Member] | The 2021 Warrants [Member] | |||||
Warrants assumptions | 0.91 | 0.87 | |||
Measurement Input, Price Volatility [Member] | The Amended November 2021 Warrants [Member] | |||||
Warrants assumptions | 0.796 | ||||
Measurement Input, Price Volatility [Member] | The November 2021 Warrants [Member] | |||||
Warrants assumptions | 0.795 | 0.796 | 0.796 | ||
Measurement Input, Price Volatility [Member] | Amended July 2020 Warrants [Member] | |||||
Warrants assumptions | 0.795 | 0.796 | 0.796 | ||
Measurement Input, Expected Term [Member] | September 2022 Warrants [Member] | |||||
Warrants assumptions | 5.8 | 6 | |||
Measurement Input, Expected Term [Member] | The 2021 Warrants [Member] | |||||
Warrants assumptions | 6 | 6 | |||
Measurement Input, Expected Term [Member] | The Amended November 2021 Warrants [Member] | |||||
Warrants assumptions | 6 | ||||
Measurement Input, Expected Term [Member] | The November 2021 Warrants [Member] | |||||
Warrants assumptions | 5.8 | 6 | 5.4 | ||
Measurement Input, Expected Term [Member] | Amended July 2020 Warrants [Member] | |||||
Warrants assumptions | 3.2 | 3.4 | 3.4 | ||
Measurement Input, Risk Free Interest Rate [Member] | September 2022 Warrants [Member] | |||||
Warrants assumptions | 0.0393 | 0.0343 | |||
Measurement Input, Risk Free Interest Rate [Member] | The 2021 Warrants [Member] | |||||
Warrants assumptions | 0.0165 | 0.0131 | |||
Measurement Input, Risk Free Interest Rate [Member] | The Amended November 2021 Warrants [Member] | |||||
Warrants assumptions | 0.0343 | ||||
Measurement Input, Risk Free Interest Rate [Member] | The November 2021 Warrants [Member] | |||||
Warrants assumptions | 0.0393 | 0.0343 | 0.0343 | ||
Measurement Input, Risk Free Interest Rate [Member] | Amended July 2020 Warrants [Member] | |||||
Warrants assumptions | 0.0415 | 0.0358 | 0.0358 | ||
Measurement Input, Expected Dividend Rate [Member] | September 2022 Warrants [Member] | |||||
Warrants assumptions | 0 | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | The 2021 Warrants [Member] | |||||
Warrants assumptions | 0 | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | The Amended November 2021 Warrants [Member] | |||||
Warrants assumptions | 0 | ||||
Measurement Input, Expected Dividend Rate [Member] | The November 2021 Warrants [Member] | |||||
Warrants assumptions | 0 | 0 | 0 | ||
Measurement Input, Expected Dividend Rate [Member] | Amended July 2020 Warrants [Member] | |||||
Warrants assumptions | 0 | 0 | 0 | ||
Measurement Input, Share Price [Member] | September 2022 Warrants [Member] | |||||
Warrants assumptions | 1.40 | 4.55 | |||
Measurement Input, Share Price [Member] | The 2021 Warrants [Member] | |||||
Warrants assumptions | 7 | 8.75 | |||
Measurement Input, Share Price [Member] | The Amended November 2021 Warrants [Member] | |||||
Warrants assumptions | 4.55 | ||||
Measurement Input, Share Price [Member] | The November 2021 Warrants [Member] | |||||
Warrants assumptions | 1.40 | 4.55 | 3.15 | ||
Measurement Input, Share Price [Member] | Amended July 2020 Warrants [Member] | |||||
Warrants assumptions | 1.05 | 3.50 | 0.70 |
Note 12 - Stockholders' Equit_2
Note 12 - Stockholders' Equity (Details Textual) | 3 Months Ended | 12 Months Ended | ||||||||||||
Nov. 15, 2022 $ / shares | Sep. 09, 2022 USD ($) $ / shares shares | Oct. 29, 2021 USD ($) $ / shares shares | Mar. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2019 shares | Apr. 27, 2023 $ / shares | Dec. 31, 2022 $ / shares shares | Nov. 10, 2022 USD ($) | Sep. 08, 2022 USD ($) $ / shares | Jan. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jan. 15, 2021 $ / shares shares | Sep. 30, 2020 $ / shares | Jul. 31, 2020 $ / shares | |
Common Stock, Shares Authorized (in shares) | 150,000,000 | 150,000,000 | ||||||||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 7.70 | $ 7.70 | ||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 2,306,000 | 2,306,000 | ||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 0 | |||||||||||||
The 2022 Private Placement [Member] | ||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 3,200,000 | |||||||||||||
The 2022 Private Placement [Member] | Conversion of Series C Preferred Stock to Common Stock [Member] | ||||||||||||||
Preferred Stock, Convertible, Shares Issuable (in shares) | 516,750 | |||||||||||||
The 2021 Private Placement Program [Member] | Conversion of Series B Preferred Stock to Common Stock [Member] | ||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 3,380 | |||||||||||||
The 2021 Private Placement Program [Member] | Conversion of Series B Preferred Stock to Common Stock [Member] | Stock Restatement From Reverse Stock Split [Member] | ||||||||||||||
Preferred Stock, Convertible, Shares Issuable (in shares) | 1,071,429 | |||||||||||||
Series C Preferred Stock [Member] | ||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 2,000 | 2,000 | ||||||||||||
Series C Preferred Stock [Member] | The 2022 Private Placement [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 3,250 | |||||||||||||
Series B Preferred Stock [Member] | ||||||||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 6.30 | $ 0.18 | $ 0.40 | |||||||||||
Preferred Stock, Convertible, Conversion Ratio | 159 | |||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 5,556 | |||||||||||||
Preferred Stock, Change in Conversion Price, Income Statement Impact | $ | $ 5,700,000 | |||||||||||||
Preferred Stock, Fair Value Disclosure | $ | $ 12.5 | $ 6,800,000 | ||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 12,000 | 12,000 | ||||||||||||
Series B Preferred Stock [Member] | The 2021 Private Placement Program [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 15,000 | |||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 14,900,000 | |||||||||||||
Preferred Stock, Purchase Price (in dollars per share) | $ / shares | $ 1,000 | |||||||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.40 | $ 6.30 | ||||||||||||
Preferred Stock, Convertible, Conversion Ratio | 2,500 | 159 | ||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 11,620 | |||||||||||||
Series B Preferred Stock [Member] | The 2021 Private Placement Program [Member] | Subsequent Event [Member] | ||||||||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 1.30 | |||||||||||||
Preferred Stock, Convertible, Conversion Ratio | 770 | |||||||||||||
The Amended November 2021 Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 803,574 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.30 | |||||||||||||
Warrants and Rights Outstanding | $ | $ 3.5 | |||||||||||||
The Amended July 2020 Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 77,145 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.30 | |||||||||||||
The July 2020 and November 2021 Warrants [Member] | ||||||||||||||
Warrants and Rights Outstanding | $ | $ 5,200,000 | $ 3,300,000 | ||||||||||||
The 2022 Warrant Reprice Transaction [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 327,860 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.30 | |||||||||||||
Proceeds from Warrant Exercises | $ | $ 2,100,000 | |||||||||||||
Payments of Stock Issuance Costs | $ | 529,000 | |||||||||||||
Payments of Stock Issuance Costs Allocated to Warrants | $ | 166,000 | |||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ | $ 363,000 | |||||||||||||
The 2022 Warrant Reprice Transaction [Member] | Ladenburg Thalmann and Co. Inc. [Member] | ||||||||||||||
Exercise of Warrants, Commission, Percent | 8% | |||||||||||||
The November 2021 Warrants [Member] | ||||||||||||||
Warrants and Rights Outstanding | $ | $ 1,300,000 | $ 7,500,000 | $ 9,600,000 | |||||||||||
Proceeds from Warrant Exercises | $ | $ 700,000 | |||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 803,574 | |||||||||||||
The November 2021 Warrants [Member] | Stock Restatement From Reverse Stock Split [Member] | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.30 | |||||||||||||
Amended July 2020 Warrants [Member] | ||||||||||||||
Warrants and Rights Outstanding | $ | $ 300,000 | $ 100,000 | ||||||||||||
Proceeds from Warrant Exercises | $ | $ 1,400,000 | |||||||||||||
The 2022 Private Placement Short Term Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 515,876 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.30 | |||||||||||||
The 2022 Private Placement Long Term Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 515,876 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.30 | |||||||||||||
The 2021 Warrants [Member] | Stock Restatement From Reverse Stock Split [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,071,429 | |||||||||||||
September 2022 Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.18 | |||||||||||||
Warrants and Rights Outstanding | $ | $ 1,400,000 | $ 500,000 | ||||||||||||
The 2019 Ladenburg Warrants [Member] | Stock Restatement From Reverse Stock Split [Member] | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 34.65 | |||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 4,799 | |||||||||||||
The July 2020 Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 59,960 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 57.75 | |||||||||||||
TLF Bio Innovation 2021 Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 429 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 23.513 | |||||||||||||
Reverse Stock Split [Member] | ||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 35 |
Note 12 - Stockholders' Equit_3
Note 12 - Stockholders' Equity - The Key Assumptions Used to Value the Warrants (Details) | Nov. 10, 2022 | Sep. 09, 2022 | Sep. 08, 2022 |
Measurement Input, Price Volatility [Member] | The November 2021 Warrants [Member] | |||
Warrants assumptions | 0.795 | 0.796 | 0.796 |
Measurement Input, Price Volatility [Member] | Amended July 2020 Warrants [Member] | |||
Warrants assumptions | 0.795 | 0.796 | 0.796 |
Measurement Input, Expected Term [Member] | The November 2021 Warrants [Member] | |||
Warrants assumptions | 5.8 | 6 | 5.4 |
Measurement Input, Expected Term [Member] | Amended July 2020 Warrants [Member] | |||
Warrants assumptions | 3.2 | 3.4 | 3.4 |
Measurement Input, Risk Free Interest Rate [Member] | The November 2021 Warrants [Member] | |||
Warrants assumptions | 0.0393 | 0.0343 | 0.0343 |
Measurement Input, Risk Free Interest Rate [Member] | Amended July 2020 Warrants [Member] | |||
Warrants assumptions | 0.0415 | 0.0358 | 0.0358 |
Measurement Input, Expected Dividend Rate [Member] | The November 2021 Warrants [Member] | |||
Warrants assumptions | 0 | 0 | 0 |
Measurement Input, Expected Dividend Rate [Member] | Amended July 2020 Warrants [Member] | |||
Warrants assumptions | 0 | 0 | 0 |
Measurement Input, Share Price [Member] | The November 2021 Warrants [Member] | |||
Warrants assumptions | 1.40 | 4.55 | 3.15 |
Measurement Input, Share Price [Member] | Amended July 2020 Warrants [Member] | |||
Warrants assumptions | 1.05 | 3.50 | 0.70 |
Note 12 - Stockholders' Equit_4
Note 12 - Stockholders' Equity - Preferred Stock Assumptions (Details) - Series B Preferred Stock [Member] | Sep. 09, 2022 | Sep. 08, 2022 |
Measurement Input, Price Volatility [Member] | ||
Preferred stock assumption | 0.796 | 0.796 |
Measurement Input, Expected Term [Member] | ||
Preferred stock assumption | 1.3 | 1.3 |
Measurement Input, Risk Free Interest Rate [Member] | ||
Preferred stock assumption | 0.0364 | 0.0364 |
Measurement Input, Expected Dividend Rate [Member] | ||
Preferred stock assumption | 0 | 0 |
Measurement Input, Share Price [Member] | ||
Preferred stock assumption | 2.10 | 8.05 |
Note 12 - Stockholders' Equit_5
Note 12 - Stockholders' Equity - Outstanding Warrants (Details) shares in Thousands | 3 Months Ended |
Mar. 31, 2023 $ / shares shares | |
Outstanding warrants (in shares) | shares | 2,306 |
Outstanding warrants, weighted-average exercise price (in dollars per share) | $ / shares | $ 7.70 |
Warrants granted (in shares) | shares | 0 |
Warrants granted, weighted average exercise price (in dollars per share) | $ / shares | $ 0 |
Warrants expired (in shares) | shares | 0 |
Warrants expired, weighted average exercise price (in dollars per share) | $ / shares | $ 0 |
Note 13 - Equity-based Compen_3
Note 13 - Equity-based Compensation (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | ||||
Mar. 31, 2023 | Mar. 31, 2017 | Oct. 31, 2007 | Mar. 31, 2023 | Sep. 30, 2022 | Mar. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 0 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 300 | $ 300 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 21 days | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 4,000 | |||||
Share-Based Payment Arrangement, Expense | $ 184 | |||||
Employees and Directors [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 3,650 | 9,486 | ||||
Share-Based Payment Arrangement, Option [Member] | ||||||
Share-Based Payment Arrangement, Expense | $ 75 | $ 184 | ||||
Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Nonemployee [Member] | ||||||
Share-Based Payment Arrangement, Expense | $ 0 | $ 0 | ||||
The 2007 Omnibus Incentive Plan [Member] | Maximum [Member] | Incentive Stock Options (ISOs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
The 2017 Omnibus Incentive Plan [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 66,243 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Annual Increase in Shares Authorized, Percentage of Outstanding Common Stock | 4% | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 81,417 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 180,143 | 180,143 | ||||
The 2017 Omnibus Incentive Plan [Member] | Incentive Stock Options (ISOs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percentage of Stock Owned by Shareholder, Minimum | 10% | |||||
The 2017 Omnibus Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||||
The 2017 Omnibus Incentive Plan [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
The 2017 Omnibus Incentive Plan [Member] | Maximum [Member] | Incentive Stock Options (ISOs) [Member] | Shareholder of More Than 10% [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 5 years | |||||
The 2017 Omnibus Incentive Plan [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 100% | |||||
The 2017 Omnibus Incentive Plan [Member] | Minimum [Member] | Incentive Stock Options (ISOs) [Member] | Shareholder of More Than 10% [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 110% |
Note 13 - Equity-based Compen_4
Note 13 - Equity-based Compensation - Stock Options Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Outstanding awards (in shares) | 132 | ||
Outstanding, weighted-average exercise price (in dollars per share) | $ 37.99 | ||
Outstanding, weighted-average remaining contractual life (Year) | 7 years 3 months 18 days | 7 years 6 months | |
Outstanding, aggregate intrinsic value | $ 48 | $ 69 | |
Options granted (in shares) | 4 | ||
Options granted, weighted-average exercise price (in dollars per share) | $ 1.80 | ||
Options forfeited/cancelled (in shares) | (5) | ||
Options forfeited/cancelled, weighted-average exercise price (in dollars per share) | $ 59.45 | ||
Outstanding awards (in shares) | 124 | ||
Outstanding, weighted-average exercise price (in dollars per share) | $ 38.34 | ||
Vested and expected to vest (in shares) | 95 | ||
Vested and expected to vest, weighted-average exercise price (in dollars per share) | $ 49.23 | ||
Vested and expected to vest, weighted-average remaining contractual life (Year) | 6 years 10 months 24 days | ||
Vested and expected to vest, aggregate intrinsic value | $ 9 | ||
Vested (in shares) | 66 | ||
Vested, weighted-average exercise price (in dollars per share) | $ 65.02 | ||
Vested, weighted-average remaining contractual life (Year) | 6 years 1 month 6 days | ||
Exercisable (in shares) | 66 | ||
Exercisable, weighted-average exercise price (in dollars per share) | $ 65.02 | ||
Exercisable, weighted-average remaining contractual life (Year) | 6 years 1 month 6 days | ||
Restricted Stock Units (RSUs) [Member] | |||
Restricted stock units cancelled (in shares) | (7) |
Note 13 - Equity-based Compen_5
Note 13 - Equity-based Compensation - Weighted-average Assumptions Used in Determining the Value of Options Granted to Employees and Directors (Details) - Employees and Directors [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Expected price volatility | 154.49% | 160.47% |
Expected term (Year) | 6 years 7 months 28 days | 6 years 5 months 12 days |
Risk-free interest rate | 3.41% | 1.63% |
Dividend yield | 0% | 0% |
Weighted-average fair value of options granted during the period (in dollars per share) | $ 2.37 | $ 10.21 |
Note 13 - Equity-based Compen_6
Note 13 - Equity-based Compensation - Summary of Stock-based Compensation Expense Included in Results of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Stock-based compensation expense | $ 184 | |
General and administrative | $ 75 | |
Research and Development Expense [Member] | ||
Stock-based compensation expense | 6 | 4 |
Selling and Marketing Expense [Member] | ||
Stock-based compensation expense | 15 | 12 |
General and Administrative Expense [Member] | ||
Stock-based compensation expense | $ 168 | |
General and administrative | $ 54 |
Note 14 - Distribution Agreem_3
Note 14 - Distribution Agreements (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 3,124,000 | $ 3,273,000 | |
Avenova Direct [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 1,600,000 | 1,800,000 | |
DERMAdoctor [Member] | |||
Contract with Customer, Liability | 300,000 | $ 200,000 | |
Revenue from Contract with Customer, Including Assessed Tax | 785,000 | 1,043,000 | |
McKesson Corporation [Member] | Avenova Product [Member] | |||
Contract with Customer, Liability, Revenue Recognized | 92,000 | 199,000 | |
McKesson Corporation [Member] | Avenova Product [Member] | Accounts Payable and Accrued Liabilities [Member] | |||
Contract with Customer, Liability | 1,500,000 | 1,600,000 | |
McKesson Corporation [Member] | Avenova Product [Member] | Prepaid Expenses and Other Current Assets [Member] | |||
Contract with Customer, Rebate Liability, Current | 8 | $ 0 | |
Costco and Others [Member] | DERMAdoctor [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 100,000 | $ 200,000 |
Note 14 - Distribution Agreem_4
Note 14 - Distribution Agreements - Changes in Assets and Liabilities (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Chargebacks, Discounts for Prompt, Payment, and Other [Member] | |
Balance | $ 1,673 |
Provision related to sales made in current period | 254 |
Payments and customer credits issued | (188) |
Balance | 1,739 |
Other Customer Fees [Member] | |
Balance | 53 |
Provision related to sales made in current period | 21 |
Payments and customer credits issued | (8) |
Balance | 66 |
Rebates [Member] | |
Balance | 81 |
Provision related to sales made in current period | 401 |
Payments and customer credits issued | (423) |
Balance | 59 |
Variable Consideration [Member] | |
Balance | 1,807 |
Provision related to sales made in current period | 676 |
Payments and customer credits issued | (619) |
Balance | $ 1,864 |
Note 15 - Employee Benefit Pl_2
Note 15 - Employee Benefit Plan (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Jan. 01, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
The 401K Plan Contribution Level One [Member] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3% | ||
The 401K Plan Contribution Level Two [Member] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 2% | ||
The 401(k) Plan [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 32 | $ 46 |
Note 16 - Related Party Trans_3
Note 16 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Related Party [Member] | ||
Accounts Receivable, before Allowance for Credit Loss | $ 0 | $ 200 |
Note 16 - Related Party Trans_4
Note 16 - Related Party Transactions - Related Party Revenue, Cost of Goods Sold, and Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Product cost of goods sold | $ 1,188 | $ 1,459 |
Related Party [Member] | ||
NeutroPhase | 0 | 148 |
Product cost of goods sold | 0 | 134 |
NeutroPhase [Member] | Related Party [Member] | ||
NeutroPhase | 0 | 148 |
Product cost of goods sold | $ 0 | $ 134 |
Note 17 - Segment Reporting (De
Note 17 - Segment Reporting (Details Textual) | 3 Months Ended |
Mar. 31, 2023 | |
Number of Reportable Segments | 2 |
Note 17 - Segment Reporting - F
Note 17 - Segment Reporting - Financial Information by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 3,124 | $ 3,273 |
Operating loss | $ (1,734) | $ (2,382) |
Operating loss, percentage | 100% | 100% |
Product [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 3,117 | $ 3,267 |
Total of Revenue | 100% | 100% |
Optical and Wound Care [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 2,339 | $ 2,230 |
Operating loss | $ (1,335) | $ (2,039) |
Operating loss, percentage | 77% | 86% |
Optical and Wound Care [Member] | Product [Member] | ||
Total of Revenue | 75% | 68% |
Skin Care [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 785 | $ 1,043 |
Operating loss | $ (399) | $ (343) |
Operating loss, percentage | 23% | 14% |
Skin Care [Member] | Product [Member] | ||
Total of Revenue | 25% | 32% |
Note 18 - Subsequent Events (De
Note 18 - Subsequent Events (Details Textual) $ / shares in Units, $ in Thousands | Apr. 27, 2023 USD ($) $ / shares shares | Apr. 26, 2023 $ / shares shares | Mar. 31, 2023 $ / shares | Dec. 31, 2022 $ / shares |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 7.70 | $ 7.70 | ||
Subsequent Event [Member] | ||||
Proceeds from Issuance of Private Placement | $ | $ 3,000 | |||
Subsequent Event [Member] | Series B Preferred Stock and Series C Preferred Stock [Member] | ||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 1.30 | $ 6.30 | ||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 770 | 159 | ||
Preferred Stock, Convertible, Increase in Shares Issuable (in shares) | 7,863,570 | |||
Subsequent Event [Member] | Ladenburg Thalmann and Co. Inc. [Member] | ||||
Private Placement, Placement Agent Fee, Percentage of Gross Proceeds | 8% | |||
Payments of Stock Issuance Costs, Reimbursement of Expenses | $ | $ 55 | |||
Subsequent Event [Member] | Series B-1 Warrant [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,538,464 | |||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||
Subsequent Event [Member] | Series B-2 Warrant [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,538,464 | |||
Warrants and Rights Outstanding, Term (Year) | 2 years | |||
Subsequent Event [Member] | Warrant Amendment Agreements [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,724,455 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.30 | $ 6.30 | ||
Subsequent Event [Member] | Series B-1 and B-2 Warrants [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.30 | |||
Subsequent Event [Member] | Original Issue Discount Senior Secured Convertible Debentures Due November 1, 2024 [Member] | ||||
Debt Instrument, Face Amount | $ | $ 3,300 | |||
Debt Instrument, Convertible, Number of Equity Instruments | 2,538,464 | |||
Maximum Percentage of Common Stock Outstanding | 19.99% | |||
Debt Instrument, Convertible, Maximum Issuable Shares Per Holder (in shares) | 438,669 | |||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 1.30 | |||
Debt Instrument, Monthly Redemption, Aggregate Principal Amount | 0.556 | |||
Debt Instrument, Monthly Redemption, Multiplier in Cash | 1.10 | |||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 90% | |||
Debt Instrument, Convertible, Threshold Trading Days | 10 | |||
Debt Instrument, Default, Interest Rate | 18% |