Cascadian Therapeutics (ONTY) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 09, 2017
Document Information [Line Items]
Entity Registrant Name	Cascadian Therapeutics, Inc.
Entity Central Index Key	1,412,067
Trading Symbol	casc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		49,235,617
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 35,674	$ 13,721
Short-term investments	90,215	49,084
Accounts and other receivables	216	238
Prepaid and other current assets	1,710	1,411
Total current assets	127,815	64,454
Long-term investments	10,244
Property and equipment, net	1,670	1,402
Goodwill	16,659	16,659
Other assets	784	750
Total assets	157,172	83,265
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	1,028	824
Accrued and other liabilities	2,962	3,323
Accrued compensation and related liabilities	1,129	4,274
Current portion of restricted share unit liability	262	352
Total current liabilities	5,381	8,773
Other liabilities	72	105
Commitments and contingencies
Stockholders’ equity:
Preferred stock
Common stock	353,852	353,849
Additional paid-in capital	386,665	297,922
Accumulated deficit	(583,736)	(572,334)
Accumulated other comprehensive loss	(5,092)	(5,080)
Total stockholders’ equity	151,689	74,357
Total liabilities and stockholders’ equity	157,172	83,265
Class UA Preferred Stock [Member]
LIABILITIES AND STOCKHOLDERS’ EQUITY
Class UA preferred stock, 12,500 shares authorized, 12,500 shares issued and outstanding	$ 30	$ 30

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	66,666,667	66,666,667
Common stock, shares issued (in shares)	49,235,617	22,562,640
Common stock, shares outstanding (in shares)	49,235,617	22,562,640
Class UA Preferred Stock [Member]
Preferred stock, shares authorized (in shares)	12,500	12,500
Preferred stock, shares issued (in shares)	12,500	12,500
Preferred stock, shares outstanding (in shares)	12,500	12,500
Series A Convertible Preferred Stock [Member]
Preferred stock, shares issued (in shares)	10,000	10,000
Preferred stock, shares outstanding (in shares)	10,000	10,000
Series B Convertible Preferred Stock [Member]
Preferred stock, shares issued (in shares)	5,333	5,333
Preferred stock, shares outstanding (in shares)	5,333	5,333
Series C Convertible Preferred Stock [Member]
Preferred stock, shares issued (in shares)	7,500	7,500
Preferred stock, shares outstanding (in shares)	7,500	7,500
Series D Convertible Preferred Stock [Member]
Preferred stock, shares issued (in shares)	17,250	17,250
Preferred stock, shares outstanding (in shares)	17,250	17,250
Series E Convertible Preferred Stock [Member]
Preferred stock, shares issued (in shares)	1,818	0
Preferred stock, shares outstanding (in shares)	1,818	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Operating expenses
Research and development		$ 8,587	$ 6,337
General and administrative		2,975	6,633
Total operating expenses		11,562	12,970
Loss from operations		(11,562)	(12,970)
Other income (expenses)
Investment and other income (expenses), net		160	83
Total other income (expenses), net		160	83
Net loss		(11,402)	(12,887)
Net loss attributable to common stockholders		$ (12,384)	$ (12,887)
Net loss per share basic and diluted (in dollars per share)	[1]	$ (0.30)	$ (0.81)
Shares used to compute basic and diluted net loss per share (1) (in shares)	[1]	41,523,856	15,826,985
Series E Convertible Preferred Stock [Member]
Other income (expenses)
Deemed dividend related to beneficial conversion feature on convertible preferred stock		$ (982)
[1]	Basic and diluted net loss per share, and shares to used compute basic and diluted net loss per share for the three months ended March 31, 2016 has been adjusted retroactively to reflect the 1-for-6 reverse stock split.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net loss	$ (11,402)	$ (12,887)
Other comprehensive income (loss):
Unrealized gain (loss) during the period, net	(12)	11
Other comprehensive income (loss)	(12)	11
Comprehensive loss	$ (11,414)	$ (12,876)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net loss	$ (11,402)	$ (12,887)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	179	163
Amortization of premiums and accretion of discounts on securities	33	26
Share-based compensation expense	727	2,676
Other		(4)
Net change in assets and liabilities:
Accounts and other receivables	22	(73)
Prepaid expenses and other current assets	(299)	(28)
Other long term assets	(35)	(401)
Accounts payable	204	393
Accrued and other liabilities	(714)	379
Accrued compensation and related liabilities	(3,145)	(79)
Other long-term liabilities	(33)	63
RSU liability	(23)
Net cash used in operating activities	(14,486)	(9,772)
Cash flows from investing activities
Purchases of investments	(71,718)	(18,243)
Redemption of investments	20,299	14,104
Purchases of property and equipment, net	(95)	(59)
Net cash used in investing activities	(51,514)	(4,198)
Cash flows from financing activities
Proceeds from issuance of common stock, net of issuance cost	82,356
Proceeds from issuance of convertible preferred stock, net of issuance cost	5,616
Cash paid upon conversion of restricted share units	(19)
Net cash provided by financing activities	87,953
Increase (decrease) in cash and cash equivalents	21,953	(13,970)
Cash and cash equivalents, beginning of period	13,721	27,850
Cash and cash equivalents, end of period	35,674	13,880
Series E Convertible Preferred Stock [Member]
Supplemental disclosures of non-cash investing and financing activities:
Accretion on convertible preferred stock associated with beneficial conversion feature	$ 982

Note 1 - Description of Busines

Note 1 - Description of Business	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	1. DESCRIPTION OF BUSINESS Cascadian Therapeutics, Inc. (the Company) is a clinical-stage biopharmaceutical company incorporated in the State of Delaware on September 7, 2007

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	2. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial statements. The accounting principles and methods of computation adopted in these condensed consolidated financial statements are the same as those of the audited consolidated financial statements contained in the Company’s Annual Report on Form 10 December 31, 2016 March 9, 2017. Omitted from these statements are certain information and note disclosures normally included in the audited consolidated financial statements prepared in accordance with U.S. GAAP. The Company believes all adjustments necessary for a fair statement of the results for the periods presented have been made, and such adjustments consist only of those considered normal and recurring in nature. The financial results for the three March 31, 2017 December 31, 2016 December 31, 2016 10 December 31, 2016 March 9, 2017. Reverse Stock Split On November 29, 2016, one six six one 1 6 Accumulated Other Comprehensive Income (Loss) Comprehensive income or loss is comprised of net income or loss and other comprehensive income or loss. Other comprehensive income or loss includes unrealized gains and losses on the Company’s available-for-sale investments. In addition to unrealized gains and losses on investments, accumulated other comprehensive income or loss consists of foreign currency translation adjustments which arose from the conversion of the Canadian dollar functional currency consolidated financial statements to the U.S. dollar reporting currency consolidated financial statements prior to January 1, 2008. There were no three March 31, 2017. three March 31, 2017 March 31, 2016: Three months ended March 3 1, 2017 Net unrealized gains/(losses) on Available-for-sale Securities Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2016 $ (14 ) $ (5,066 ) $ (5,080 ) Current period other comprehensive income (loss) (12 ) — (12 ) Balance at March 31, 2017 $ (26 ) $ (5,066 ) $ (5,092 ) Three months ended March 31, 201 6 Net unrealized gains/(losses) on Available-for-sale Securities Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2015 $ 2 $ (5,066 ) $ (5,064 ) Current period other comprehensive income (loss) 11 — 11 Balance at March 31, 2016 $ 13 $ (5,066 ) $ (5,053 )

Note 3 - Recent Accounting Pron

Note 3 - Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	3. RECENT ACCOUNTING PRONOUNCEMENTS In January 2017, 2017 04, 350): 2 December 15, 2019. January 1, 2017. may In March 2016, 2016 09, 718, December 15, 2016, January 1, 2017. In August 2015, 2015 14, 606)—Deferral one 2014 09, December 15, 2017, December 15, 2016, 2017, may January 1, 2018.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value in accordance with a hierarchy which requires an entity to maximize the use of observable inputs which reflect market data obtained from independent sources and minimize the use of unobservable inputs which reflect the Company’s market assumptions when measuring fair value. There are three may • Level 1—quoted • Level 2—observable 1 • Level 3—unobservable The Company’s financial assets and liabilities measured at fair value consisted of the following as of March 31, 2017 December 31, 2016: March 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Money market funds $ 27,700 $ — $ — $ 27,700 $ 6,559 $ — $ — $ 6,559 Debt securities of U.S. government agencies — 65,206 — 65,206 — 38,378 — 38,378 Corporate bonds — 38,422 — 38,422 — 10,706 — 10,706 $ 27,700 $ 103,628 $ — $ 131,328 $ 6,559 $ 49,084 $ — $ 55,643 Financial liabilities: Restricted share units $ 262 $ — $ — $ 262 $ 352 $ — $ — $ 352 If quoted market prices in active markets for identical assets are not available to determine fair value, then the Company uses quoted prices of similar instruments and other significant inputs derived from observable market data obtained from third 2 1 2 three March 31, 2017.

Note 5 - Financial Instruments

Note 5 - Financial Instruments	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	5. FINANCIAL INSTRUMENTS Financial instruments consist of cash and cash equivalents, investments and accounts and other receivables that will result in future cash receipts, as well as accounts payable, accrued and other liabilities, restricted share unit liabilities, and Class UA preferred stock that may Investments Investments are classified as available-for-sale securities and are carried at fair value with unrealized temporary holding gains and losses excluded from net income or loss and reported in other comprehensive income or loss and as a net amount in accumulated other comprehensive income or loss until realized. Available-for-sale securities are written down to fair value through income whenever it is necessary to reflect other-than-temporary impairments. The Company determined that the unrealized losses on its marketable securities as of March 31, 2017 one 12 may third third third Amortized Gross Gross Fair Value (In thousands) As of March 31, 2017 Cash $ 4,805 $ — $ — $ 4,805 Money market funds 27,700 — — 27,700 Debt securities of U.S. government agencies 65,223 3 (20 ) 65,206 Corporate bonds 38,431 2 (11 ) 38,422 Total $ 136,159 $ 5 $ (31 ) $ 136,133 As of December 31, 2016 Cash $ 7,162 $ — $ — $ 7,162 Money market funds 6,559 — — 6,559 Debt securities of U.S. government agencies 38,387 1 (10 ) 38,378 Corporate bonds 10,711 — (5 ) 10,706 Total $ 62,819 $ 1 $ (15 ) $ 62,805 The following table summarizes the aggregate related fair value of investments with unrealized losses by investment category: As of March 31, 2017 As of December 31, 201 6 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In thousands) Debt securities of U.S. government agencies $ 47,605 $ (20 ) $ 31,990 $ (10 ) Corporate bonds 25,391 (11 ) 8,955 (5 ) Total $ 72,996 $ (31 ) $ 40,945 $ (15 ) The following table summarizes the Company’s available-for-sale securities by contractual maturity: As of March 31, 2017 As of December 31, 201 6 Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Less than one year $ 121,110 $ 121,084 $ 55,657 $ 55,643 Greater than one year but less than five years 10,244 10,244 — — Total $ 131,354 $ 131,328 $ 55,657 $ 55,643 Accounts and Other Receivables, Accounts Payable and Accrued and Other Liabilities The carrying amounts of accounts and other receivables, accounts payable and accrued and other liabilities approximate their fair values due to the short-term nature of these financial instruments. Class UA Preferred Stock The fair value of class UA preferred stock is assumed to be equal to its carrying value as the amounts that will be paid and the timing of the payments cannot be determined with any certainty. Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment; therefore, they cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Note 6 - Net Loss Per Share Att

Note 6 - Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	6. NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS Basic net loss per share is calculated by dividing net loss attributable to common stockholders, which may 2010 three March 31, 2017, The following table presents the number of shares that were excluded from the number of shares used to calculate diluted net loss per share: Three months ended March 31, 2017 2016 Director and employee stock options 2,523,816 1,236,440 Warrants 841,449 841,449 Convertible preferred stock (as converted to common stock): Series A 1,666,697 1,666,697 Series B 888,851 888,851 Series C 1,250,022 1,250,022 Series D 2,875,055 — Series E 1,818,000 — Employee restricted share units 136,150 — Non-employee director restricted share units 63,382 38,157 Employee stock purchase plan 15,442 4,532

Note 7 - Equity

Note 7 - Equity	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Stockholders Equity Transactions Note Disclosure [Text Block]	7. EQUITY January 2017 On January 27, 2017, $94.0 January 2017 $6.0 $88.0 Common Stock On January 27, 2017, 26,659,300 $3.30 $88.0 3,477,300 Series E Convertible Preferred Stock In addition, on January 27, 2017, 1,818 $3,300 $6.0 1,818 Each share of Series E Convertible Preferred Stock is convertible into 1,000 19.99% may 19.99% 61 $0.0001 ● senior to all common stock; ● senior to any class or series of capital stock created that specifically ranks by its terms junior to the Series E convertible preferred stock; ● on parity with the Company’s Series A convertible preferred stock, Series B Convertible Preferred Stock, Series C convertible preferred stock and Series D convertible preferred stock, and any class or series of capital stock created that specifically ranks by its terms on parity with the Series E convertible preferred stock; and ● junior to the Company’s Class UA preferred stock and any class or series of capital stock created that specifically ranks by its terms senior to the Series E convertible preferred stock; in each case, as to distributions of assets upon the Company’s liquidation, dissolution or winding up, whether voluntarily or involuntarily. Beneficial Conversion Feature A beneficial conversion feature exists when the effective conversion price of a convertible security is less than the market price per share on the commitment date, creating a discount. The value of the discount is determined by the difference between the market price and the conversion price multiplied by the potential conversion shares purchased. The discount is recognized as a non-cash deemed dividend from the date of issuance to the earliest conversion date. The Company recognized a beneficial conversion feature in the amount of $1.0 $1.0 three March 31, 2017. June 2016 On June 28, 2016, $46.0 June 2016 $2.7 $43.3 Common Stock On June 28, 2016, 6,708,333 $4.80 $32.2 875,000 Series D Convertible Preferred Stock In addition, on June 28, 2016, 17,250 $800.00 $13.8 17,250 Each share of Series D Convertible Preferred Stock is convertible into 166.67 19.99% may 19.99% 61 $0.0001 ● senior to all common stock; ● senior to any class or series of capital stock created that specifically ranks by its terms junior to the Series D convertible preferred stock; ● on parity with the Company’s Series A convertible preferred stock, Series B Convertible Preferred Stock, Series C convertible preferred stock and Series E convertible preferred stock, and any class or series of capital stock created that specifically ranks by its terms on parity with the Series D convertible preferred stock; and ● junior to the Company’s Class UA preferred stock and any class or series of capital stock created that specifically ranks by its terms senior to the Series D convertible preferred stock; in each case, as to distributions of assets upon the Company’s liquidation, dissolution or winding up, whether voluntarily or involuntarily. Beneficial Conversion Feature The Company recognized a beneficial conversion feature in the amount of $2.6 2016, 6 10 December 31, 2016 March 9, 2017 “At-the-Market” Equity Offering Program On June 2, 2016, $0.0001 $50,000,000, January 23, 2017.

Note 8 - Warrants

Note 8 - Warrants	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Warrants [Text Block]	8. WARRANTS As of March 31, 2017 December 31, 2016, 841,449 three March 31, 2017 March 31, 2016. In June 2013, 833,333 $30.00 December 5, 2018. In February 2011, 8,116 $18.48 February 8, 2018.

Note 9 - Share-based Compensati

Note 9 - Share-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9 . S HARE -BASED COMPENSATION The Company uses the Black-Scholes option pricing model to value the options at each grant date, using the following weighted average assumptions: Three months ended March 31, 2017 2016 Expected dividend rate 0.00 % 0.00 % Expected volatility 77.09 % 73.59 % Risk-free interest rate 1.99 % 1.58 % Expected life (in years) 5.69 6.20 The expected life represents the period that the Company’s stock options are expected to be outstanding and is based on historical data. The expected volatility is based on the historical volatility of the Company’s common stock for a period equal to the stock option’s expected life. The risk-free interest rate is based on the yield at the time of grant of a U.S. Treasury security with an expected term equivalent to the expected term of the option. The Company does not expect to pay dividends on its common stock. The amounts estimated according to the Black-Scholes option pricing model may Share-based compensation guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from estimates. The Company estimates forfeitures based on its historical experience. Stock-based compensation expense under the 2016 (2016 $0.7 $2.9 three March 31, 2017 March 31, 2016, three March 31, 2016 first 2016. 2016 On June 23, 2016, 2016 2016 1,200,905 2016 1,050,000 2016 82,884 68,021 2016 2016 2016 may ten three March 31, 2017, 685,943 136,150 2016 No 2016 three March 31, 2017. three March 31, 2017. March 31, 2017, 180,575 2016 Option Plan Under the Option Plan, a maximum fixed reloading percentage of 10% June 23, 2016, 2016 January 2010 one four eight January 2010 25% first 36 first eight Due to the adoption of the 2016 June 23, 2016, 2016 During the three March 31, 2016, 28,334 No three March 31, 2017 March 31, 2016. Inducement Grant On April 4, 2016, 474,810 25% first 36 first ten No three March 31, 2017. Restricted Share Unit Plan The RSU Plan was established in 2005 June 23, 2016, 2016 The RSU Plan provided for grants to be made from time to time by the board of directors or a committee thereof. RSU grants to non-employee directors are classified as liabilities. Each RSU granted was made in accordance with the RSU Plan and terms specific to that grant. Outstanding RSUs under the RSU Plan have a vesting term of one two 75% 0.75 25% 0.25 Upon the adoption of the 2016 June 23, 2016, 2016 three March 31, 2017 March 31, 2016, 18,237 zero The fair value of each RSU was determined to be the closing trading price of the Company’s common shares on the date of grant as quoted in NASDAQ Global Market. Approximately 25% The re-measurement of the outstanding RSUs together with the conversion of the RSUs resulted in a reduction of $11,500 $0.2 three March 31, 2017 March 31, 2016, Employee Stock Purchase Plan The Company adopted an Employee Stock Purchase Plan (ESPP) on June 3, 2010, 150,000 may six 18 may 15% may $25,000 85% 85% may 15,000 three March 31, 2017 March 31, 2016, $49,396 $37,614, three March 31, 2017 March 31, 2016. 69,673 March 31, 2017.

Note 10 - Contingencies, Commit

Note 10 - Contingencies, Commitments, and Guarantees	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments Contingencies and Guarantees [Text Block]	10. CONTINGENCIES, COMMITMENTS, AND GUARANTEES Pursuant to various license agreements, the Company may March 31, 2017, On January 9, 2016, January 11, 2016 January 10, 2017 January 2017, $2.5 $0.1 $0.6 three March 31, 2017 March 31, 2016, March 31, 2017, no In the normal course of operations, the Company indemnifies counterparties in transactions such as purchase and sale contracts for assets or shares, manufacturing and other service agreements, license agreements, director/officer contracts and leasing transactions. These indemnification agreements may third may

Note 11 - Collaborative and Lic

Note 11 - Collaborative and License Agreements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	11. COLLABORATIVE AND LICENSE AGREEMENTS Array BioPharma, Inc. On December 11, 2014, 380), HER2 Under the terms of the License Agreement, the Company paid Array an upfront fee of $20 third three $280 The License Agreement will expire on a country-by-country basis ten first may 180 STC.UNM Effective June 30, 2014, August 2014. On May 5, 2016, $325,000. 2014 8 10 December 31, 2016 March 9, 2017 Sentinel Oncology Ltd. In April 2014, Chk1 $90 $1.0 first

Note 12 - Income Tax

Note 12 - Income Tax	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. INCOME TAX Due to projected and actual losses for the year ended December 31, 2017 2016, not three March 31, 2017 March 31, 2016. March 31, 2017 December 31, 2016.

Note 13 - Related Party Transac

Note 13 - Related Party Transactions	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	1 3 . R ELATED PARTY TRANSACTIONS Certain of the Company’s affiliates participated in the Company’s recent public underwritten offerings. In January 2017, 26,659,300 $3.30 $88.0 1,818 $3,300 $6.0 5% 1,818 $6.0 June 2016, an underwritten public offering of 6,708,333 $4.80 $32.2 17,250 $800.00 $13.8 In this offering, affiliates of BVF, a holder of more than 5% 17,250 $13.8 In January 2016, January 17, 2017,

Note 14 - Subsequent Events

Note 14 - Subsequent Events	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	14. SUBSEQUENT EVENTS None.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial statements. The accounting principles and methods of computation adopted in these condensed consolidated financial statements are the same as those of the audited consolidated financial statements contained in the Company’s Annual Report on Form 10 December 31, 2016 March 9, 2017. Omitted from these statements are certain information and note disclosures normally included in the audited consolidated financial statements prepared in accordance with U.S. GAAP. The Company believes all adjustments necessary for a fair statement of the results for the periods presented have been made, and such adjustments consist only of those considered normal and recurring in nature. The financial results for the three March 31, 2017 December 31, 2016 December 31, 2016 10 December 31, 2016 March 9, 2017.
Reverse Stock Split, Policy [Policy Text Block]	Reverse Stock Split On November 29, 2016, one six six one 1 6
Comprehensive Income, Policy [Policy Text Block]	Accumulated Other Comprehensive Income (Loss) Comprehensive income or loss is comprised of net income or loss and other comprehensive income or loss. Other comprehensive income or loss includes unrealized gains and losses on the Company’s available-for-sale investments. In addition to unrealized gains and losses on investments, accumulated other comprehensive income or loss consists of foreign currency translation adjustments which arose from the conversion of the Canadian dollar functional currency consolidated financial statements to the U.S. dollar reporting currency consolidated financial statements prior to January 1, 2008. There were no reclassifications out of accumulated other comprehensive loss during the three March 31, 2017. three March 31, 2017 March 31, 2016: Three months ended March 3 1, 2017 Net unrealized gains/(losses) on Available-for-sale Securities Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2016 $ (14 ) $ (5,066 ) $ (5,080 ) Current period other comprehensive income (loss) (12 ) — (12 ) Balance at March 31, 2017 $ (26 ) $ (5,066 ) $ (5,092 ) Three months ended March 31, 201 6 Net unrealized gains/(losses) on Available-for-sale Securities Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2015 $ 2 $ (5,066 ) $ (5,064 ) Current period other comprehensive income (loss) 11 — 11 Balance at March 31, 2016 $ 13 $ (5,066 ) $ (5,053 )

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three months ended March 3 1, 2017 Net unrealized gains/(losses) on Available-for-sale Securities Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2016 $ (14 ) $ (5,066 ) $ (5,080 ) Current period other comprehensive income (loss) (12 ) — (12 ) Balance at March 31, 2017 $ (26 ) $ (5,066 ) $ (5,092 ) Three months ended March 31, 201 6 Net unrealized gains/(losses) on Available-for-sale Securities Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2015 $ 2 $ (5,066 ) $ (5,064 ) Current period other comprehensive income (loss) 11 — 11 Balance at March 31, 2016 $ 13 $ (5,066 ) $ (5,053 )

Note 4 - Fair Value Measureme23

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	March 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Money market funds $ 27,700 $ — $ — $ 27,700 $ 6,559 $ — $ — $ 6,559 Debt securities of U.S. government agencies — 65,206 — 65,206 — 38,378 — 38,378 Corporate bonds — 38,422 — 38,422 — 10,706 — 10,706 $ 27,700 $ 103,628 $ — $ 131,328 $ 6,559 $ 49,084 $ — $ 55,643 Financial liabilities: Restricted share units $ 262 $ — $ — $ 262 $ 352 $ — $ — $ 352

Note 5 - Financial Instruments

Note 5 - Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Unrealized Gain (Loss) on Investments [Table Text Block]	Amortized Gross Gross Fair Value (In thousands) As of March 31, 2017 Cash $ 4,805 $ — $ — $ 4,805 Money market funds 27,700 — — 27,700 Debt securities of U.S. government agencies 65,223 3 (20 ) 65,206 Corporate bonds 38,431 2 (11 ) 38,422 Total $ 136,159 $ 5 $ (31 ) $ 136,133 As of December 31, 2016 Cash $ 7,162 $ — $ — $ 7,162 Money market funds 6,559 — — 6,559 Debt securities of U.S. government agencies 38,387 1 (10 ) 38,378 Corporate bonds 10,711 — (5 ) 10,706 Total $ 62,819 $ 1 $ (15 ) $ 62,805
Schedule of Unrealized Loss on Investments [Table Text Block]	As of March 31, 2017 As of December 31, 201 6 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In thousands) Debt securities of U.S. government agencies $ 47,605 $ (20 ) $ 31,990 $ (10 ) Corporate bonds 25,391 (11 ) 8,955 (5 ) Total $ 72,996 $ (31 ) $ 40,945 $ (15 )
Investments Classified by Contractual Maturity Date [Table Text Block]	As of March 31, 2017 As of December 31, 201 6 Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Less than one year $ 121,110 $ 121,084 $ 55,657 $ 55,643 Greater than one year but less than five years 10,244 10,244 — — Total $ 131,354 $ 131,328 $ 55,657 $ 55,643

Note 6 - Net Loss Per Share A25

Note 6 - Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three months ended March 31, 2017 2016 Director and employee stock options 2,523,816 1,236,440 Warrants 841,449 841,449 Convertible preferred stock (as converted to common stock): Series A 1,666,697 1,666,697 Series B 888,851 888,851 Series C 1,250,022 1,250,022 Series D 2,875,055 — Series E 1,818,000 — Employee restricted share units 136,150 — Non-employee director restricted share units 63,382 38,157 Employee stock purchase plan 15,442 4,532

Note 9 - Share-based Compensa26

Note 9 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three months ended March 31, 2017 2016 Expected dividend rate 0.00 % 0.00 % Expected volatility 77.09 % 73.59 % Risk-free interest rate 1.99 % 1.58 % Expected life (in years) 5.69 6.20

Note 2 - Basis of Presentatio27

Note 2 - Basis of Presentation (Details Textual) $ in Thousands	Nov. 29, 2016	Mar. 31, 2017USD ($)
Stockholders' Equity Note, Stock Split, Conversion Ratio	6
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		$ 0

Note 2 - Basis of Presentatio28

Note 2 - Basis of Presentation - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net unrealized gain (loss) on available for sale securities, balance	$ (14)	$ 2
Foreign currency translation adjustment, balance	(5,066)	(5,066)
Accumulated other comprehensive loss, balance	(5,080)	(5,064)
Current period other comprehensive income (loss)	(12)	11
Current period other comprehensive income (loss)	(12)	11
Net unrealized gain (loss) on available for sale securities, balance	(26)	13
Foreign currency translation adjustment, balance	(5,066)	(5,066)
Accumulated other comprehensive loss, balance	$ (5,092)	$ (5,053)

Note 4 - Fair Value Measureme29

Note 4 - Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financial assets	$ 131,328	$ 55,643
Restricted Share Unit Plan [Member]
Financial liabilities	262	352
Fair Value, Inputs, Level 1 [Member]
Financial assets	27,700	6,559
Fair Value, Inputs, Level 1 [Member] | Restricted Share Unit Plan [Member]
Financial liabilities	262	352
Fair Value, Inputs, Level 2 [Member]
Financial assets	103,628	49,084
Money Market Funds [Member]
Financial assets	27,700	6,559
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Financial assets	27,700	6,559
US Government Agencies Debt Securities [Member]
Financial assets	65,206	38,378
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Financial assets	65,206	38,378
Corporate Debt Securities [Member]
Financial assets	38,422	10,706
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Financial assets	$ 38,422	$ 10,706

Note 5 - Financial Instrument30

Note 5 - Financial Instruments - Amortized Cost, Unrealized Gains or Losses, and Estimated Fair Value of Cash, Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Cash, Amortized cost	$ 4,805	$ 7,162
Money market funds, Amortized cost	27,700	6,559
Available-for-sale securities, Amortized cost	131,354	55,657
Available-for-sale securities, Gross unrealized gains	5	1
Available-for-sale securities, Gross unrealized losses	(31)	(15)
Available-for-sale securities,Fair value	131,328	55,643
Total, Amortized cost	136,159	62,819
Total, Fair value	136,133	62,805
US Government Agencies Debt Securities [Member]
Available-for-sale securities, Amortized cost	65,223	38,387
Available-for-sale securities, Gross unrealized gains	3	1
Available-for-sale securities, Gross unrealized losses	(20)	(10)
Available-for-sale securities,Fair value	65,206	38,378
Corporate Debt Securities [Member]
Available-for-sale securities, Amortized cost	38,431	10,711
Available-for-sale securities, Gross unrealized gains	2
Available-for-sale securities, Gross unrealized losses	(11)	(5)
Available-for-sale securities,Fair value	$ 38,422	$ 10,706

Note 5 - Financial Instrument31

Note 5 - Financial Instruments - Unrealized Loss on Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Available for sale securities, fair value	$ 72,996	$ 40,945
Available for sale securities, gross unrealized losses	(31)	(15)
US Government Agencies Debt Securities [Member]
Available for sale securities, fair value	47,605	31,990
Available for sale securities, gross unrealized losses	(20)	(10)
Corporate Debt Securities [Member]
Available for sale securities, fair value	25,391	8,955
Available for sale securities, gross unrealized losses	$ (11)	$ (5)

Note 5 - Financial Instrument32

Note 5 - Financial Instruments - Summary of Available-for-sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Less than one year, Amortized cost	$ 121,110	$ 55,657
Less than one year, Fair value	121,084	55,643
Greater than one year but less than five years	10,244
Greater than one year but less than five years	10,244
Total	131,354	55,657
Total	$ 131,328	$ 55,643

Note 6 - Net Loss Per Share A33

Note 6 - Net Loss Per Share Attributable to Common Stockholders - Number of Shares Excluded from the Number of Shares Used to Calculate Diluted Net Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Antidilutive shares excluded from the computation of earnings per share (in shares)	2,523,816	1,236,440
Warrant [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	841,449	841,449
Series A Convertible Preferred Stock [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	1,666,697	1,666,697
Series B Convertible Preferred Stock [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	888,851	888,851
Series C Convertible Preferred Stock [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	1,250,022	1,250,022
Series D Convertible Preferred Stock [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	2,875,055
Series E Convertible Preferred Stock [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	1,818,000
Employee Restricted Shares Units [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	136,150
Non Employee Director Restricted Share Units [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	63,382	38,157
Employee Stock Purchase Plan [Member]
Antidilutive shares excluded from the computation of earnings per share (in shares)	15,442	4,532

Note 7 - Equity (Details Textua

Note 7 - Equity (Details Textual)	Jan. 27, 2017USD ($)$ / shares$ / itemshares	Jun. 28, 2016USD ($)$ / shares$ / itemshares	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)$ / sharesshares	Jun. 02, 2016USD ($)$ / shares
Proceeds from Issuance or Sale of Equity, Gross | $	$ 94,000,000	$ 46,000,000
Payments of Stock Issuance Costs | $	6,000,000	2,700,000
Proceeds from Issuance or Sale of Equity | $	88,000,000	$ 43,300,000
Preferred Stock, Shares Authorized			10,000,000		10,000,000
Beneficial Conversion Feature Associated with Convertible Preferred Stock | $	$ 1,000,000				$ 2,600,000
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.0001		$ 0.0001
Underwriter Options [Member]
Additional Shares Granted Full		875,000
Series E Convertible Preferred Stock [Member]
Preferred Stock Permitted to Issue Shares	1,818
Convertible Preferred Stock Price Per Share | $ / item	3,300
Proceeds from Issuance of Convertible Preferred Stock, Gross | $	$ 6,000,000
Preferred Stock, Shares Authorized	1,818
Convertible Preferred Stock to Be Converted	1,000
Maximum Ownership Percentage of Common Shares Outstanding Post Conversion	19.99%
Percentage of Holders Election	19.99%
Days of Notice to Company for Increase of Percentage in Holders Election	61 days
Preferred Stock, Liquidation Preference Per Share | $ / shares	$ 0.0001
Accretion on Beneficial Conversion Feature Associated with Convertible Preferred Stock | $			$ 982,000
Series D Convertible Preferred Stock [Member]
Preferred Stock Permitted to Issue Shares		17,250
Convertible Preferred Stock Price Per Share | $ / item		800
Proceeds from Issuance of Convertible Preferred Stock, Gross | $		$ 13,800,000
Exchange Agreement With Certain Affiliates of Biotechnology Value Fund [Member] | Series D Convertible Preferred Stock [Member]
Preferred Stock Permitted to Issue Shares		17,250
Convertible Preferred Stock Price Per Share | $ / item		800
Proceeds from Issuance of Convertible Preferred Stock, Gross | $		$ 13,800,000
Preferred Stock, Shares Authorized		17,250
Convertible Preferred Stock to Be Converted		166.67
Maximum Ownership Percentage of Common Shares Outstanding Post Conversion		19.99%
Percentage of Holders Election		19.99%
Days of Notice to Company for Increase of Percentage in Holders Election		61 days
Preferred Stock, Liquidation Preference Per Share | $ / shares		$ 0.0001
Common Stock [Member]
Stock Issued During Period, Shares, New Issues	26,659,300	6,708,333
Share Price | $ / shares	$ 3.30	$ 4.80
Proceeds from Issuance of Common Stock, Gross | $	$ 88,000,000	$ 32,200,000
Common Stock [Member] | Sales Agreement with Cowen and Company [Member]
Common Stock, Par or Stated Value Per Share | $ / shares						$ 0.0001
Aggregate Gross Sales Proceeds Under Sales Agreement | $						$ 50,000,000
Common Stock [Member] | Over-Allotment Option [Member]
Stock Issued During Period, Shares, New Issues	3,477,300

Note 8 - Warrants (Details Text

Note 8 - Warrants (Details Textual) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Jun. 30, 2013	Feb. 28, 2011
Class of Warrant or Right, Outstanding	841,449		841,449
Class of Warrant or Right, Number of Warrants Expired in Period	0	0
Class of Warrant or Right Number Of Warrants Exercises in Period	0	0
June 2013 Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				833,333
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 30
February 2011 Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					8,116
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 18.48

Note 9 - Share-based Compensa36

Note 9 - Share-based Compensation (Details Textual) - USD ($)	Jun. 23, 2016	Apr. 04, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Jun. 03, 2010
Allocated Share-based Compensation Expense			$ 700,000	$ 2,900,000
The 2016 Equity Incentive Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	1,200,905
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			685,943
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			180,575		180,575
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			0
The 2016 Equity Incentive Plan [Member] | Award Originated Under 2016 EIP [Member]
Common Stock, Capital Shares Reserved for Future Issuance	1,050,000
The 2016 Equity Incentive Plan [Member] | Award Transferred from Option Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	82,884
The 2016 Equity Incentive Plan [Member] | Award Transferred from RSU Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	68,021
The 2016 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			136,150
Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				28,334
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			0	0
Stock Option Plan [Member] | Employee Stock Option [Member]
Maximum Fixed Reloading Percentage			10.00%
Stock Option Plan [Member] | Employee Stock Option [Member] | Options Granted Prior to January 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			8 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Stock Option Plan [Member] | Employee Stock Option [Member] | Options Granted After January 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			8 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			25.00%
Stock Option Plan [Member] | Employee Stock Option [Member] | Begin to Vest [Member] | Options Granted Prior to January 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			1 year
Inducement Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		474,810
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			0
Inducement Grant [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					10 years
Inducement Grant [Member] | Employee Stock Option [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25.00%
Inducement Grant [Member] | Employee Stock Option [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Restricted Share Unit Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			25.00%
Contingent Right to Receive Common Stock, Percentage			75.00%
Contingent Right to Receive Common Stock, Shares			0.75
Value Shares Withheld Restricted Share Unit, Percentage			25.00%
Contigent Right To Receive Cash			0.25
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period			18,237	0
Restricted Share Unit Plan [Member] | Restricted Stock Units (RSUs) [Member] | General and Administrative Expense [Member]
Allocated Share-based Compensation Expense			$ 11,500	$ 200,000
Restricted Share Unit Plan [Member] | Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			1 year
Restricted Share Unit Plan [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			2 years
Employee Stock Purchase Plan [Member]
Allocated Share-based Compensation Expense			$ 49,396	$ 37,614
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			69,673		69,673
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized						150,000
Employee Stock Purchase Plan Interval Period			180 days
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate			15.00%		15.00%
Employee Stock Purchase Plan Maximum Value of Compensation Per Employee			$ 25,000
Employee Stock Purchase Plan Purchase of Common Stock Percentage			85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee			15,000

Note 9 - Share-based Compensa37

Note 9 - Share-based Compensation - Weighted Average Assumptions (Details)	3 Months Ended
	Mar. 31, 2017Rate	Mar. 31, 2016Rate
Expected dividend rate	0.00%	0.00%
Expected volatility	77.09%	73.59%
Risk-free interest rate (Rate)	1.99%	1.58%
Expected life (in years) (Year)	5 years 251 days	6 years 73 days

Note 10 - Contingencies, Comm38

Note 10 - Contingencies, Commitments, and Guarantees (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Employee-related Liabilities		$ 0
Retention Plan [Member]
Payments Related To Retention Payment Plan	$ 2,500
Other Labor-related Expenses		$ 100	$ 600

Note 11 - Collaborative and L39

Note 11 - Collaborative and License Agreements (Details Textual) - USD ($)	May 05, 2016	Dec. 11, 2014	Apr. 30, 2014	Mar. 31, 2017	Mar. 31, 2016
Research and Development Expense				$ 8,587,000	$ 6,337,000
Array BioPharma Inc [Member] | Collaborative Arrangement, Co-promotion [Member]
Contract Terms Years from Effective Date for Acquistion Restrictions		3 years
Expiration Period Following First Commercial on a Country by Country Basis		10 years
License Agreement Termination Notice Period		180 days
Array BioPharma Inc [Member] | Collaborative Arrangement, Co-promotion [Member] | Maximum [Member]
Contingent Payable		$ 280,000,000
Array BioPharma Inc [Member] | Collaborative Arrangement, Co-promotion [Member] | Upfront Payment [Member]
Research and Development Expense		$ 20,000,000
STC. UNM. [Member]
Termination and License Fee	$ 325,000
Sentinel Oncology Limited [Member]
Contingent Payable			$ 90,000,000
Sentinel Oncology Limited [Member] | Initiation of GLP Toxicology Studies [Member]
Contingent Payable			$ 1,000,000

Note 12 - Income Tax (Details T

Note 12 - Income Tax (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax Expense (Benefit)	$ 0	$ 0

Note 13 - Related Party Trans41

Note 13 - Related Party Transactions (Details Textual)	Jan. 27, 2017USD ($)$ / shares$ / itemshares	Jun. 28, 2016USD ($)$ / shares$ / itemshares	Jun. 30, 2016USD ($)shares
Series E Convertible Preferred Stock [Member]
Preferred Stock Permitted to Issue Shares | shares	1,818
Convertible Preferred Stock Price Per Share | $ / item	3,300
Proceeds from Issuance of Convertible Preferred Stock, Gross | $	$ 6,000,000
Series E Convertible Preferred Stock [Member] | New Enterprise Associates [Member]
Preferred Stock Permitted to Issue Shares | shares	1,818
Proceeds from Issuance of Convertible Preferred Stock, Gross | $	$ 6
Series D Convertible Preferred Stock [Member]
Preferred Stock Permitted to Issue Shares | shares		17,250
Convertible Preferred Stock Price Per Share | $ / item		800
Proceeds from Issuance of Convertible Preferred Stock, Gross | $		$ 13,800,000
Series D Convertible Preferred Stock [Member] | BVF, Inc [Member]
Stock Issued During Period, Shares, New Issues | shares			17,250
Proceeds from Issuance of Convertible Preferred Stock, Gross | $			$ 13,800,000
Common Stock [Member]
Stock Issued During Period, Shares, New Issues | shares	26,659,300	6,708,333
Share Price | $ / shares	$ 3.30	$ 4.80
Proceeds from Issuance of Common Stock, Gross | $	$ 88,000,000	$ 32,200,000
Common Stock [Member] | New Enterprise Associates [Member]
Percentage of Common Stock Owned by Related Party	5.00%
Common Stock [Member] | BVF, Inc [Member]
Percentage of Common Stock Owned by Related Party		5.00%