Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 28, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001427925 | |
Entity Registrant Name | ACELRX PHARMACEUTICALS INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-35068 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 41-2193603 | |
Entity Address, Address Line One | 351 Galveston Drive | |
Entity Address, City or Town | Redwood City | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94063 | |
City Area Code | 650 | |
Local Phone Number | 216-3500 | |
Title of 12(b) Security | Common Stock, $0.001 par value | |
Trading Symbol | ACRX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 90,477,613 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Current Assets: | |||
Cash and cash equivalents | $ 19,973 | $ 14,684 | [1] |
Short-term investments | 23,050 | 51,453 | [1] |
Accounts receivable, net | 1,128 | 432 | [1] |
Inventories, net | 1,982 | 3,295 | [1] |
Prepaid expenses and other current assets | 1,663 | 1,824 | [1] |
Total current assets | 47,796 | 71,688 | [1] |
Operating lease right-of-use assets | 3,291 | 3,928 | [1] |
Property and equipment, net | 14,372 | 14,552 | [1] |
Other assets | 720 | 1,188 | [1] |
Total Assets | 66,179 | 91,356 | [1] |
Current Liabilities: | |||
Accounts payable | 1,998 | 1,720 | [1] |
Accrued liabilities | 4,290 | 5,528 | [1] |
Long-term debt, current portion | 8,720 | 4,630 | [1] |
Deferred revenue, current portion | 196 | 411 | [1] |
Operating lease liabilities, current portion | 1,131 | 970 | [1] |
Liability related to the sale of future royalties, current portion | 225 | 352 | [1] |
Total current liabilities | 16,560 | 13,611 | [1] |
Long-term debt, net of current portion | 14,993 | 20,517 | [1] |
Deferred revenue, net of current portion | 0 | 2,833 | [1] |
Operating lease liabilities, net of current portion | 2,806 | 3,640 | [1] |
Liability related to the sale of future royalties, net of current portion | 89,114 | 91,683 | [1] |
Other long-term liabilities | 559 | 490 | [1] |
Total liabilities | 124,032 | 132,774 | [1] |
Commitments and Contingencies | |||
Stockholders’ Deficit: | |||
Common stock, $0.001 par value—200,000,000 shares authorized as of September 30, 2020 and December 31, 2019; 90,477,613 and 79,573,101 shares issued and outstanding as of September 30, 2020 and December 31, 2019 | 90 | 79 | [1] |
Additional paid-in capital | 371,624 | 356,609 | [1] |
Accumulated deficit | (429,567) | (398,106) | [1] |
Total stockholders’ deficit | (57,853) | (41,418) | [1] |
Total Liabilities and Stockholders’ Deficit | $ 66,179 | $ 91,356 | [1] |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 | [1] |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 | |
Common stock, issued (in shares) | 90,477,613 | 79,573,101 | |
Common stock, outstanding (in shares) | 90,477,613 | 79,573,101 | |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue: | ||||
Revenue | $ 1,368 | $ 608 | $ 4,678 | $ 1,814 |
Operating costs and expenses: | ||||
Cost of goods sold | 1,851 | 2,148 | 4,732 | 5,188 |
Research and development | 956 | 1,058 | 3,181 | 3,598 |
Selling, general and administrative | 7,598 | 10,936 | 28,484 | 32,241 |
Total operating costs and expenses | 10,405 | 14,142 | 36,397 | 41,027 |
Loss from operations | (9,037) | (13,534) | (31,719) | (39,213) |
Other income (expense): | ||||
Interest expense | (824) | (828) | (2,551) | (1,704) |
Interest income and other income, net | 106 | 645 | 311 | 1,728 |
Non-cash interest income on liability related to future sale of royalties | 825 | 986 | 2,502 | 375 |
Total other income (expense) | 107 | 803 | 262 | 399 |
Net loss before income taxes | (8,930) | (12,731) | (31,457) | (38,814) |
Provision for income taxes | 0 | 0 | (4) | (3) |
Net loss | (8,930) | (12,731) | (31,461) | (38,817) |
Comprehensive loss | $ (8,930) | $ (12,731) | $ (31,461) | $ (38,817) |
Net loss per share of common stock, basic and diluted (in dollars per share) | $ (0.10) | $ (0.16) | $ (0.38) | $ (0.49) |
Shares used in computing net loss per share of common stock, basic and diluted – See Note 11 (in shares) | 87,912,505 | 79,461,121 | 82,895,664 | 79,053,256 |
Product [Member] | ||||
Revenue: | ||||
Revenue | $ 1,287 | $ 559 | $ 1,864 | $ 1,453 |
Contract and Other Collaboration [Member] | ||||
Revenue: | ||||
Revenue | $ 81 | $ 49 | $ 2,814 | $ 361 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total | |
Balance (in shares) at Dec. 31, 2018 | 78,757,930 | ||||||
Balance at Dec. 31, 2018 | $ 153 | $ 153 | $ 78 | $ 349,194 | $ (345,019) | $ 4,253 | |
Stock-based compensation | 1,107 | 1,107 | |||||
Issuance of common stock upon ESPP purchase (in shares) | 85,135 | ||||||
Issuance of common stock upon ESPP purchase | $ 1 | 238 | 239 | ||||
Net loss | (13,674) | (13,674) | |||||
Issuance of common stock upon exercise of stock options (in shares) | 13,583 | ||||||
Issuance of common stock upon exercise of stock options | 31 | 31 | |||||
Stock-based compensation | 1,107 | 1,107 | |||||
Balance (in shares) at Mar. 31, 2019 | 78,856,648 | ||||||
Balance at Mar. 31, 2019 | $ 79 | 350,570 | (358,540) | (7,891) | |||
Balance (in shares) at Dec. 31, 2018 | 78,757,930 | ||||||
Balance at Dec. 31, 2018 | $ 153 | $ 153 | $ 78 | 349,194 | (345,019) | 4,253 | |
Net loss | (38,817) | ||||||
Balance (in shares) at Sep. 30, 2019 | 79,573,001 | ||||||
Balance at Sep. 30, 2019 | $ 79 | 355,330 | (383,683) | (28,274) | |||
Balance (in shares) at Mar. 31, 2019 | 78,856,648 | ||||||
Balance at Mar. 31, 2019 | $ 79 | 350,570 | (358,540) | (7,891) | |||
Stock-based compensation | 1,346 | 1,346 | |||||
Net loss | (12,412) | (12,412) | |||||
Issuance of common stock upon exercise of stock options (in shares) | 57,522 | ||||||
Issuance of common stock upon exercise of stock options | 155 | 155 | |||||
Issuance of warrants related to debt financing | 383 | 383 | |||||
Stock-based compensation | 1,346 | 1,346 | |||||
Balance (in shares) at Jun. 30, 2019 | 78,914,170 | ||||||
Balance at Jun. 30, 2019 | $ 79 | 352,454 | (370,952) | (18,419) | |||
Stock-based compensation | $ 0 | 1,326 | 0 | 1,326 | |||
Net proceeds from issuance of common stock in connection with equity financings (in shares) | 500,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 0 | 1,233 | 0 | 1,233 | |||
Issuance of common stock upon ESPP purchase (in shares) | 118,334 | ||||||
Issuance of common stock upon ESPP purchase | $ 0 | 234 | 0 | 234 | |||
Net loss | $ 0 | 0 | (12,731) | (12,731) | |||
Issuance of common stock upon exercise of stock options (in shares) | 40,497 | ||||||
Issuance of common stock upon exercise of stock options | $ 0 | 83 | 0 | 83 | |||
Stock-based compensation | $ 0 | 1,326 | 0 | 1,326 | |||
Balance (in shares) at Sep. 30, 2019 | 79,573,001 | ||||||
Balance at Sep. 30, 2019 | $ 79 | 355,330 | (383,683) | (28,274) | |||
Balance (in shares) at Dec. 31, 2019 | 79,573,101 | ||||||
Balance at Dec. 31, 2019 | $ 79 | 356,609 | (398,106) | (41,418) | [1] | ||
Stock-based compensation | 1,146 | 1,146 | |||||
Restricted stock units vested (in shares) | 216,399 | ||||||
Tax payments related to shares withheld for restricted stock units vested | (86) | (86) | |||||
Net proceeds from issuance of common stock in connection with equity financings (in shares) | 431,800 | ||||||
Stock Issued During Period, Value, New Issues | $ 1 | 783 | 784 | ||||
Issuance of common stock upon ESPP purchase (in shares) | 194,451 | ||||||
Issuance of common stock upon ESPP purchase | 218 | 218 | |||||
Net loss | (15,925) | (15,925) | |||||
Stock-based compensation | 1,146 | 1,146 | |||||
Balance (in shares) at Mar. 31, 2020 | 80,415,751 | ||||||
Balance at Mar. 31, 2020 | $ 80 | 358,670 | (414,031) | (55,281) | |||
Balance (in shares) at Dec. 31, 2019 | 79,573,101 | ||||||
Balance at Dec. 31, 2019 | $ 79 | 356,609 | (398,106) | (41,418) | [1] | ||
Net loss | (31,461) | ||||||
Balance (in shares) at Sep. 30, 2020 | 90,477,613 | ||||||
Balance at Sep. 30, 2020 | $ 90 | 371,624 | (429,567) | (57,853) | |||
Balance (in shares) at Mar. 31, 2020 | 80,415,751 | ||||||
Balance at Mar. 31, 2020 | $ 80 | 358,670 | (414,031) | (55,281) | |||
Stock-based compensation | 1,090 | 1,090 | |||||
Restricted stock units vested (in shares) | 29,434 | ||||||
Net proceeds from issuance of common stock in connection with equity financings (in shares) | 445,000 | ||||||
Stock Issued During Period, Value, New Issues | 665 | 665 | |||||
Net loss | (6,606) | (6,606) | |||||
Stock-based compensation | 1,090 | 1,090 | |||||
Balance (in shares) at Jun. 30, 2020 | 80,890,185 | ||||||
Balance at Jun. 30, 2020 | $ 80 | 360,425 | (420,637) | (60,132) | |||
Stock-based compensation | $ 0 | 1,104 | 0 | 1,104 | |||
Restricted stock units vested (in shares) | 7,789 | ||||||
Net proceeds from issuance of common stock in connection with equity financings (in shares) | 9,433,962 | ||||||
Stock Issued During Period, Value, New Issues | $ 10 | 9,941 | 0 | 9,951 | |||
Issuance of common stock upon ESPP purchase (in shares) | 145,677 | ||||||
Issuance of common stock upon ESPP purchase | $ 0 | 154 | 0 | 154 | |||
Net loss | 0 | 0 | (8,930) | (8,930) | |||
Stock-based compensation | $ 0 | 1,104 | 0 | 1,104 | |||
Balance (in shares) at Sep. 30, 2020 | 90,477,613 | ||||||
Balance at Sep. 30, 2020 | $ 90 | $ 371,624 | $ (429,567) | $ (57,853) | |||
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 60 Months Ended | ||||
Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | |
Cash flows from operating activities: | |||||||
Net loss | $ (8,930) | $ (15,925) | $ (12,731) | $ (13,674) | $ (31,461) | $ (38,817) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
Non-cash royalty revenue related to royalty monetization | (181) | (238) | |||||
Non-cash interest income on liability related to royalty monetization | (825) | (986) | (2,502) | (375) | $ 29,033 | ||
Depreciation and amortization | 1,471 | 1,153 | |||||
Non-cash interest expense related to debt financing | 823 | 471 | |||||
Stock-based compensation | 3,340 | 3,779 | |||||
Other | 463 | 292 | |||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable | (696) | (195) | |||||
Inventories | 734 | (2,981) | |||||
Prepaid expenses and other assets | 616 | (709) | |||||
Accounts payable | 174 | 843 | |||||
Accrued liabilities | (1,238) | 465 | |||||
Operating lease liabilities | (673) | (477) | |||||
Deferred revenue | (3,048) | (236) | |||||
Net cash used in operating activities | (32,178) | (37,025) | |||||
Cash flows from investing activities: | |||||||
Purchase of property and equipment | (224) | (3,228) | |||||
Purchase of investments | (38,817) | (81,924) | |||||
Proceeds from maturities of investments | 67,405 | 41,700 | |||||
Net cash provided by (used in) investing activities | 28,364 | (43,452) | |||||
Cash flows from financing activities: | |||||||
Proceeds from issuance of long-term debt | 0 | 25,000 | |||||
Payment of costs in connection with refinancing of long-term debt | 0 | (190) | |||||
Payment of long-term debt | (2,583) | (3,470) | |||||
Extinguishment of debt | 0 | (8,864) | |||||
Net proceeds from issuance of common stock in connection with equity financings | 11,400 | 1,233 | |||||
Net proceeds from issuance of common stock through equity plans | 372 | 742 | |||||
Payment of employee tax obligations related to vesting of restricted stock units | (86) | 0 | |||||
Net cash provided by financing activities | 9,103 | 14,451 | |||||
Net increase (decrease) in cash and cash equivalents | 5,289 | (66,026) | |||||
Cash and cash equivalents—Beginning of period | $ 14,684 | $ 87,975 | 14,684 | 87,975 | |||
Cash and cash equivalents—End of period | $ 19,973 | $ 21,949 | $ 19,973 | $ 21,949 | $ 19,973 |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. The Company AcelRx Pharmaceuticals, Inc., or the Company or AcelRx, was incorporated in Delaware on July 13, 2005 January 2006, AcelRx is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings. DSUVIA ® TM ® November 2, 2018, first 2019. June 2018, not may one not The Company has incurred recurring operating losses and negative cash flows from operating activities since inception. Although Zalviso was approved for sale in Europe on September 18, 2015, third DSUVIA/DZUVEO DSUVIA, known as DZUVEO in Europe, approved by the FDA in November 2018 June 2018, DSUVIA was approved with a Risk Evaluation and Mitigation Strategy, or REMS, which restricts distribution to certified medically supervised healthcare settings in order to prevent respiratory depression resulting from accidental exposure. DSUVIA is only distributed to facilities certified in the DSUVIA REMS program following attestation by an authorized representative to comply with appropriate dispensing and use restrictions of DSUVIA. To become certified, a healthcare setting is required to train their healthcare professionals on the proper use of DSUVIA and have the ability to manage respiratory depression. DSUVIA is not Co-Promotion Agreement On March 15, 2020, 15 not one July 28, 2020, There were no three nine September 30, 2020. Distribution Agreement On July 17, 2020, ZB Dental’s distribution rights are non-exclusive for crossover ambulatory surgery centers and certain government customers, and do not may not third Promotion Agreement On October 1, 2020, September 30, 2020, not 12 Zalviso Zalviso delivers 15 September 2013 July 25, 2014. IAP312, IAP312 August 2017, three 3 Termination of Grünenthal Amended Agreements On December 16, 2013, July 17, 2015 September 20, 2016, 28 September 2015, December 16, 2013, July 22, 2015, July 17, 2015. On May 18, 2020, November 13, 2020. On May 20, 2020, first third September 30, 2020. Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Refer to Note 7 Reclassifications Certain prior period amounts in the Condensed Consolidated Financial Statements have been reclassified to conform to the current period's presentation. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the United States. Securities and Exchange Commission, or SEC. Accordingly, they do not Operating results for the three nine September 30, 2020, not may December 31, 2020. December 31, 2019, December 31, 2019, 10 10 December 31, 2019, Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Management evaluates its estimates on an ongoing basis including critical accounting policies. Estimates are based on historical experience and on various other market-specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not Restructuring Costs The Company's restructuring costs consist of employee termination benefit costs. Liabilities for costs associated with the cost reduction plan are recognized when the liability is incurred and are measured at fair value. One-time termination benefits are expensed at the date the Company notifies the employee, unless the employee must provide future service, in which case the benefits are expensed ratably over the future service period. On March 16, 2020, nine September 30, 2020, The headcount reduction was completed in the first 2020. No Significant Accounting Policies The Company’s significant accounting policies are detailed in its Annual Report on Form 10 December 31, 2019. no nine September 30, 2020, 2019 10 Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, 2016 13. 2016 13 2016 13 January 1, 2023, January 1, 2020. May 2019, 2019 05, Financial Instruments – Credit Losses , ” 2019 05, 2016 13. 2016 13 2019 05 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 may December 31, 2022. not |
Note 2 - Investments and Fair V
Note 2 - Investments and Fair Value Measurement | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Investments and Fair Value Measurement Disclosure [Text Block] | 2. Investments The Company classifies its marketable securities as available-for-sale and records its investments at fair value. Available-for-sale securities are carried at estimated fair value based on quoted market prices or observable market inputs of almost identical assets, with the unrealized holding gains and losses included in accumulated other comprehensive income (loss). Marketable securities which have maturities beyond one The table below summarizes the Company’s cash, cash equivalents and short-term investments (in thousands): As of September 30 , 2020 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 1,357 $ — $ — $ 1,357 Money market funds 1,415 — — 1,415 U.S. government agency securities 5,002 — — 5,002 Commercial paper 12,199 — — 12,199 Total cash and cash equivalents 19,973 — — 19,973 Short-term investments: U.S. government agency securities 13,853 — — 13,853 Commercial paper 9,197 — — 9,197 Total short-term investments 23,050 — — 23,050 Total cash, cash equivalents and short-term investments $ 43,023 $ — $ — $ 43,023 As of December 31, 2019 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 1,957 $ — $ — $ 1,957 Money market funds 598 — — 598 Commercial paper 12,129 — — 12,129 Total cash and cash equivalents 14,684 — — 14,684 Short-term investments: U.S. government agency securities 14,268 — — 14,268 Commercial paper 27,131 — — 27,131 Corporate debt securities 10,054 — — 10,054 Total short-term investments 51,453 — — 51,453 Total cash, cash equivalents and short-term investments $ 66,137 $ — $ — $ 66,137 There were no other-than-temporary impairments for these securities at September 30, 2020 December 31, 2019. three nine September 30, 2020 September 30, 2019. As of September 30, 2020, December 31, 2019, one Fair Value Measurement The Company’s financial instruments consist of Level I and II assets and Level III liabilities. Money market funds are highly liquid investments and are actively traded. The pricing information on these investment instruments are readily available and can be independently validated as of the measurement date. This approach results in the classification of these securities as Level 1 third September 30, 2020, December 31, 2019, 5 two The following table sets forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy (in thousands): As of September 30 , 2020 Fair Value Level I Level II Level III Assets Money market funds $ 1,415 $ 1,415 $ — $ — U.S. government agency securities 18,855 — 18,855 — Commercial paper 21,396 — 21,396 — Total assets measured at fair value $ 41,666 $ 1,415 $ 40,251 $ — Liabilities Contingent put option liability $ 506 $ — $ — $ 506 Total liabilities measured at fair value $ 506 $ — $ — $ 506 As of December 31, 2019 Fair Value Level I Level II Level III Assets Money market funds $ 598 $ 598 $ — $ — U.S. government agency securities 14,268 — 14,268 — Commercial paper 39,260 — 39,260 — Corporate debt securities 10,054 — 10,054 — Total assets measured at fair value $ 64,180 $ 598 $ 63,582 $ — Liabilities Contingent put option liability $ 437 $ — $ — $ 437 Total liabilities measured at fair value $ 437 $ — $ — $ 437 The following tables set forth a summary of the changes in the fair value of the Company’s Level III financial liabilities for the three nine September 30, 2020 September 30, 2019 ( Three Months September 30, 20 Nine Months September 30, 20 Fair value—beginning of period $ 591 $ 437 Fair value of contingent put option associated with the Loan Agreement (85 ) 69 Fair value—end of period $ 506 $ 506 Three Months September 30, 19 Nine Months September 30, 19 Fair value—beginning of period $ 657 $ 121 Fair value of contingent put option associated with the Loan Agreement (143 ) 514 Change in fair value of contingent put option associated with the Prior Agreement — (121 ) Fair value—end of period $ 514 $ 514 |
Note 3 - Inventories, Net
Note 3 - Inventories, Net | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 3. , net Inventories consist of raw materials, work in process and finished goods and are stated at the lower of cost or net realizable value and consist of the following (in thousands): Balance as of September 30 , 20 20 December 31, 201 9 Raw materials $ 354 $ 1,153 Work-in-process 112 593 Finished goods 1,516 1,549 Total $ 1,982 $ 3,295 During the three nine September 30, 2020, nine September 30, 2020, may |
Note 4 - Revenue from Contracts
Note 4 - Revenue from Contracts with Customers | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 4. The following table summarizes revenue from contracts with customers for the three nine September 30, 2020 2019 Three months ended September 30 , 2020 Nine months e nded September 30 , 2020 Product sales: DSUVIA $ 935 $ 1,092 Zalviso 352 772 Total product sales 1,287 1,864 Contract and collaboration revenue: Non-cash royalty revenue related to Royalty Monetization (Note 7) $ 60 $ 181 Royalty revenue 21 61 Other revenue — 2,572 Total revenues from contract and other collaboration 81 2,814 Total revenue $ 1,368 $ 4,678 Three months ended September 30 , 20 19 Nine months e nded September 30 , 20 19 Product sales: DSUVIA $ 116 $ 218 Zalviso 443 1,235 Total product sales 559 1,453 Contract and collaboration revenue: Non-cash royalty revenue related to Royalty Monetization (Note 7) $ 36 $ 239 Royalty revenue 12 79 Other revenue 1 43 Total revenues from contract and other collaboration 49 361 Total revenue $ 608 $ 1,814 For additional details on the Company’s accounting policy regarding revenue recognition, refer to Note 1 10 December 31, 2019, 1 10 Product Sales The Company’s commercial launch of DSUVIA in the United States occurred in the first 2019. November 13, 2020. Contract and Other Collaboration Amended License Agreement Under the Amended License Agreement with Grünenthal, the Company is eligible to receive approximately $194.5 million in additional milestone payments, based upon successful regulatory and product development efforts ($28.5 million) and net sales target achievements ($166.0 million). Grünenthal will also make tiered royalty and supply and trademark fee payments in the mid-teens up to the mid-twenties percent range, depending on the level of sales achieved, on net sales of Zalviso. A portion of the tiered royalty payment, exclusive of the supply and trademark fee payments, will be paid to PDL BioPharma, Inc. or PDL, in connection with the Royalty Monetization. On August 31, 2020, 7 Amended MSA Under the terms of the Amended MSA with Grünenthal, the Company will manufacture and supply the Product for use in the Field for the Territory exclusively for Grünenthal. The Product will be supplied at prices approximating the Company’s manufacturing cost, subject to certain caps, as defined in the MSA Amendment. The MSA Amendment requires the Company to use commercially reasonable efforts to enter stand-by contracts with third third As mentioned above, Grünenthal has exercised its right to terminate the Amended Agreements, effective November 13, 2020. May 2020, no Contract Liability At September 30, 2020, The following table presents changes in the Company’s contract liability for the nine September 30, 2020 ( Balance at Beginning of the Period Additions Deductions Balance at the end of the Period Contract liability: Deferred revenue – Amended Agreements $ 3,148 $ — $ (2,952 ) $ 196 Deferred revenue – Other 96 — (96 ) — Deferred revenue $ 3,244 $ — $ (3,048 ) $ 196 For the three nine September 30, 2020 2019, Three Months Ended September 30, Nine Months Ended September 30 , 2020 2019 2020 2019 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied $ 147 $ 79 $ 380 $ 237 Performance obligations eliminated upon termination — — 2,572 — New activities in the period from performance obligations satisfied: Performance obligations satisfied 205 365 392 1,041 Total revenue from performance obligations satisfied or eliminated $ 352 $ 444 $ 3,344 $ 1,278 |
Note 5 - Long-term Debt
Note 5 - Long-term Debt | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 5. Loan Agreement with Oxford On May 30, 2019, May 30, 2019. In connection with the Loan Agreement, on May 30, 2019, 8 As of September 30, 2020, three September 30, 2020, nine September 30, 2020. Non-Interest Bearing Payments for the Construction of Leasehold Improvements In August 2019, may four July 2022. September 30, 2020, September 30, 2020 |
Note 6 - Leases
Note 6 - Leases | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. The Company leases office and laboratory space for its corporate headquarters, located at 301 351 The components of lease expense are presented in the following table (in thousands): Three Months Ended September 30, Nine Months Ended September 30 , 20 20 201 9 20 20 201 9 Operating lease costs $ 305 $ 340 $ 914 $ 1,020 Sublease income (150 ) (150 ) (449 ) (446 ) Net lease costs $ 155 $ 190 $ 465 $ 574 The weighted average remaining lease term and discount rate related to the operating leases are presented in the following table: September 30 , 20 20 Weighted-average remaining term – operating lease (in years) 3.31 Weighted-average discount rate – operating lease 11.72 % Future minimum lease payments as of September 30, 2020 Year: 2020 (remaining three months) $ 318 2021 1,364 2022 1,345 2023 1,386 2024 116 Total future minimum lease payments 4,529 Less imputed interest (592 ) Total $ 3,937 Reported as: Operating lease liabilities $ 1,131 Operating lease liabilities, net of current portion 2,806 Total lease liability $ 3,937 Future minimum sublease payments as of September 30, 2020 Year: 2020 (remaining three months) $ 148 2021 610 2022 629 2023 648 2024 54 Total future minimum sublease payments $ 2,089 The rent receivable balance reported in the balance sheet as of September 30, 2020, Reported as: Prepaid expenses and other current assets $ 91 Other assets 283 Total rent receivable $ 374 |
Note 7 - Liability Related to S
Note 7 - Liability Related to Sale of Future Royalties | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Liability Related To Sale Of Future Royalties Disclosure [Text Block] | 7. In September 2015, first four 80% The Company periodically assesses the expected royalty and milestone payments using a combination of historical results, internal projections and forecasts from external sources. To the extent such payments are greater or less than the Company’s initial estimates or the timing of such payments is materially different than its original estimates, the Company will prospectively adjust the amortization of the liability and the effective interest rate. During the three June 30, 2019, $65.0 three June 30, 2020, November 13, 2020. may The change in estimate reduced the effective interest rate over the life of the liability to 0% by recording interest income over the remaining term of the arrangement as an offset to the interest expense that was recognized in prior periods. The effective interest income rates for both the three nine September 30, 2020 three September 30, 2019, nine September 30, 2019. three September 30, 2019 nine September 30, 2019 The following table shows the activity within the liability account for the nine September 30, 2020 ( Nine months ended September 30 , 20 20 Period from inception to September 30 , 20 20 Liability related to sale of future royalties — beginning balance $ 92,035 $ — Proceeds from sale of future royalties — 61,184 Non-cash royalty revenue (194 ) (878 ) Non-cash interest (income) expense recognized (2,502 ) 29,033 Liability related to sale of future royalties as of September 30, 2020 89,339 89,339 Less: current portion (225 ) (225 ) Liability related to sale of future royalties — net of current portion $ 89,114 $ 89,114 As royalties are remitted to PDL from ARPI LLC, as described in Note 1 10 December 31, 2019, August 31, 2020, |
Note 8 - Warrants
Note 8 - Warrants | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Warrants Disclosure [Text Block] | 8 . Warrants Loan Agreement Warrants In connection with the Loan Agreement, on May 30, 2019, September 30, 2020, not May 2029. |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 9 . Stockholders’ Equity Common Stock Registered Direct Offering On July 23, 2020, No ATM Agreement The Company has entered into a Controlled Equity Offering SM may May 9, 2019, may There were no shares of common stock sold pursuant to the ATM Agreement during the three September 30, 2020. nine September 30, 2020, September 30, 2020, New and Amended Stock Plans 20 20 Equity Incentive Plan On June 16, 2020, 2020 2020 2020 As of June 16, 2020, no may 2011 2011 2011 2011 The initial aggregate number of shares of the Company’s common stock issuable pursuant to stock awards under the 2020 2006 2011 not 2020 not not Amended and Restated 2011 Additionally, on June 16, 2020, 2011 2011 2011 |
Note 10 - Stock-based Compensat
Note 10 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 1 0 . Stock-Based Compensation The Company recorded total stock-based compensation expense for stock options, stock awards and the Amended 2011 Three Months Ended September 30, Nine Months Ended September 30, 20 20 201 9 20 20 201 9 Cost of goods sold $ 25 $ 68 $ 98 $ 197 Research and development 188 242 572 699 Selling, general and administrative 891 1,016 2,670 2,883 Total $ 1,104 $ 1,326 $ 3,340 $ 3,779 As of September 30, 2020, |
Note 11 - Net Loss Per Share of
Note 11 - Net Loss Per Share of Common Stock | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 1 1 . Net Loss per Share of Common Stock The Company’s basic net loss per share of common stock is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period. The diluted net loss per share of common stock is computed by giving effect to all potential common stock equivalents outstanding for the period determined using the treasury stock method. For purposes of this calculation, options to purchase common stock, RSUs, and warrants to purchase common stock were considered to be common stock equivalents. In periods with a reported net loss, common stock equivalents are excluded from the calculation of diluted net loss per share of common stock if their effect is antidilutive. The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share of common stock for the periods presented because including them would have been antidilutive: September 30 , 20 20 201 9 ESPP, RSUs and stock options to purchase common stock 14,669,512 13,712,081 Common stock warrants 176,679 176,679 |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 1 2 . Subsequent Event Promotion Agreement On October 1, 2020, September 30, 2020, not Under the terms of the Promotion Agreement, La Jolla is responsible for maintaining compliance under the agreed marketing and promotion plan and achieving a minimum number of sales calls per calendar quarter. The La Jolla promotion activities will be overseen by a joint marketing and sales committee, which will be responsible for developing marketing plans for the products, provided that AcelRx will be responsible for developing the marketing strategy for, creating the promotional materials for, and handling sales and distribution of, its products. The Promotion Agreement has a two may one may may may The Company will pay La Jolla a revenue share on net sales of its products in the sales territories covered by the Promotion Agreement, other than sales to certain excluded accounts. These sales territories do not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Business Description of Entity [Policy Text Block] | The Company AcelRx Pharmaceuticals, Inc., or the Company or AcelRx, was incorporated in Delaware on July 13, 2005 January 2006, AcelRx is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings. DSUVIA ® TM ® November 2, 2018, first 2019. June 2018, not may one not The Company has incurred recurring operating losses and negative cash flows from operating activities since inception. Although Zalviso was approved for sale in Europe on September 18, 2015, third DSUVIA/DZUVEO DSUVIA, known as DZUVEO in Europe, approved by the FDA in November 2018 June 2018, DSUVIA was approved with a Risk Evaluation and Mitigation Strategy, or REMS, which restricts distribution to certified medically supervised healthcare settings in order to prevent respiratory depression resulting from accidental exposure. DSUVIA is only distributed to facilities certified in the DSUVIA REMS program following attestation by an authorized representative to comply with appropriate dispensing and use restrictions of DSUVIA. To become certified, a healthcare setting is required to train their healthcare professionals on the proper use of DSUVIA and have the ability to manage respiratory depression. DSUVIA is not Co-Promotion Agreement On March 15, 2020, 15 not one July 28, 2020, There were no three nine September 30, 2020. Distribution Agreement On July 17, 2020, ZB Dental’s distribution rights are non-exclusive for crossover ambulatory surgery centers and certain government customers, and do not may not third Promotion Agreement On October 1, 2020, September 30, 2020, not 12 Zalviso Zalviso delivers 15 September 2013 July 25, 2014. IAP312, IAP312 August 2017, three 3 Termination of Grünenthal Amended Agreements On December 16, 2013, July 17, 2015 September 20, 2016, 28 September 2015, December 16, 2013, July 22, 2015, July 17, 2015. On May 18, 2020, November 13, 2020. On May 20, 2020, first third September 30, 2020. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Refer to Note 7 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain prior period amounts in the Condensed Consolidated Financial Statements have been reclassified to conform to the current period's presentation. |
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 for interim financial information and the rules and regulations of the United States. Securities and Exchange Commission, or SEC. Accordingly, they do not Operating results for the three nine September 30, 2020, not may December 31, 2020. December 31, 2019, December 31, 2019, 10 10 December 31, 2019, |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Management evaluates its estimates on an ongoing basis including critical accounting policies. Estimates are based on historical experience and on various other market-specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not |
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | Restructuring Costs The Company's restructuring costs consist of employee termination benefit costs. Liabilities for costs associated with the cost reduction plan are recognized when the liability is incurred and are measured at fair value. One-time termination benefits are expensed at the date the Company notifies the employee, unless the employee must provide future service, in which case the benefits are expensed ratably over the future service period. On March 16, 2020, nine September 30, 2020, The headcount reduction was completed in the first 2020. No |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, 2016 13. 2016 13 2016 13 January 1, 2023, January 1, 2020. May 2019, 2019 05, Financial Instruments – Credit Losses , ” 2019 05, 2016 13. 2016 13 2019 05 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 may December 31, 2022. not |
Note 2 - Investments and Fair_2
Note 2 - Investments and Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Cash, Cash Equivalents and Investments [Table Text Block] | As of September 30 , 2020 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 1,357 $ — $ — $ 1,357 Money market funds 1,415 — — 1,415 U.S. government agency securities 5,002 — — 5,002 Commercial paper 12,199 — — 12,199 Total cash and cash equivalents 19,973 — — 19,973 Short-term investments: U.S. government agency securities 13,853 — — 13,853 Commercial paper 9,197 — — 9,197 Total short-term investments 23,050 — — 23,050 Total cash, cash equivalents and short-term investments $ 43,023 $ — $ — $ 43,023 As of December 31, 2019 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 1,957 $ — $ — $ 1,957 Money market funds 598 — — 598 Commercial paper 12,129 — — 12,129 Total cash and cash equivalents 14,684 — — 14,684 Short-term investments: U.S. government agency securities 14,268 — — 14,268 Commercial paper 27,131 — — 27,131 Corporate debt securities 10,054 — — 10,054 Total short-term investments 51,453 — — 51,453 Total cash, cash equivalents and short-term investments $ 66,137 $ — $ — $ 66,137 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | As of September 30 , 2020 Fair Value Level I Level II Level III Assets Money market funds $ 1,415 $ 1,415 $ — $ — U.S. government agency securities 18,855 — 18,855 — Commercial paper 21,396 — 21,396 — Total assets measured at fair value $ 41,666 $ 1,415 $ 40,251 $ — Liabilities Contingent put option liability $ 506 $ — $ — $ 506 Total liabilities measured at fair value $ 506 $ — $ — $ 506 As of December 31, 2019 Fair Value Level I Level II Level III Assets Money market funds $ 598 $ 598 $ — $ — U.S. government agency securities 14,268 — 14,268 — Commercial paper 39,260 — 39,260 — Corporate debt securities 10,054 — 10,054 — Total assets measured at fair value $ 64,180 $ 598 $ 63,582 $ — Liabilities Contingent put option liability $ 437 $ — $ — $ 437 Total liabilities measured at fair value $ 437 $ — $ — $ 437 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months September 30, 20 Nine Months September 30, 20 Fair value—beginning of period $ 591 $ 437 Fair value of contingent put option associated with the Loan Agreement (85 ) 69 Fair value—end of period $ 506 $ 506 Three Months September 30, 19 Nine Months September 30, 19 Fair value—beginning of period $ 657 $ 121 Fair value of contingent put option associated with the Loan Agreement (143 ) 514 Change in fair value of contingent put option associated with the Prior Agreement — (121 ) Fair value—end of period $ 514 $ 514 |
Note 3 - Inventories, Net (Tabl
Note 3 - Inventories, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | Balance as of September 30 , 20 20 December 31, 201 9 Raw materials $ 354 $ 1,153 Work-in-process 112 593 Finished goods 1,516 1,549 Total $ 1,982 $ 3,295 |
Note 4 - Revenue from Contrac_2
Note 4 - Revenue from Contracts with Customers (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended September 30 , 2020 Nine months e nded September 30 , 2020 Product sales: DSUVIA $ 935 $ 1,092 Zalviso 352 772 Total product sales 1,287 1,864 Contract and collaboration revenue: Non-cash royalty revenue related to Royalty Monetization (Note 7) $ 60 $ 181 Royalty revenue 21 61 Other revenue — 2,572 Total revenues from contract and other collaboration 81 2,814 Total revenue $ 1,368 $ 4,678 Three months ended September 30 , 20 19 Nine months e nded September 30 , 20 19 Product sales: DSUVIA $ 116 $ 218 Zalviso 443 1,235 Total product sales 559 1,453 Contract and collaboration revenue: Non-cash royalty revenue related to Royalty Monetization (Note 7) $ 36 $ 239 Royalty revenue 12 79 Other revenue 1 43 Total revenues from contract and other collaboration 49 361 Total revenue $ 608 $ 1,814 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Balance at Beginning of the Period Additions Deductions Balance at the end of the Period Contract liability: Deferred revenue – Amended Agreements $ 3,148 $ — $ (2,952 ) $ 196 Deferred revenue – Other 96 — (96 ) — Deferred revenue $ 3,244 $ — $ (3,048 ) $ 196 Three Months Ended September 30, Nine Months Ended September 30 , 2020 2019 2020 2019 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied $ 147 $ 79 $ 380 $ 237 Performance obligations eliminated upon termination — — 2,572 — New activities in the period from performance obligations satisfied: Performance obligations satisfied 205 365 392 1,041 Total revenue from performance obligations satisfied or eliminated $ 352 $ 444 $ 3,344 $ 1,278 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30 , 20 20 201 9 20 20 201 9 Operating lease costs $ 305 $ 340 $ 914 $ 1,020 Sublease income (150 ) (150 ) (449 ) (446 ) Net lease costs $ 155 $ 190 $ 465 $ 574 September 30 , 20 20 Weighted-average remaining term – operating lease (in years) 3.31 Weighted-average discount rate – operating lease 11.72 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year: 2020 (remaining three months) $ 318 2021 1,364 2022 1,345 2023 1,386 2024 116 Total future minimum lease payments 4,529 Less imputed interest (592 ) Total $ 3,937 Operating lease liabilities $ 1,131 Operating lease liabilities, net of current portion 2,806 Total lease liability $ 3,937 |
Lessee, Operating Sublease, to Be Received, Maturity [Table Text Block] | Year: 2020 (remaining three months) $ 148 2021 610 2022 629 2023 648 2024 54 Total future minimum sublease payments $ 2,089 Prepaid expenses and other current assets $ 91 Other assets 283 Total rent receivable $ 374 |
Note 7 - Liability Related to_2
Note 7 - Liability Related to Sale of Future Royalties (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Other Liabilities [Table Text Block] | Nine months ended September 30 , 20 20 Period from inception to September 30 , 20 20 Liability related to sale of future royalties — beginning balance $ 92,035 $ — Proceeds from sale of future royalties — 61,184 Non-cash royalty revenue (194 ) (878 ) Non-cash interest (income) expense recognized (2,502 ) 29,033 Liability related to sale of future royalties as of September 30, 2020 89,339 89,339 Less: current portion (225 ) (225 ) Liability related to sale of future royalties — net of current portion $ 89,114 $ 89,114 |
Note 10 - Stock-based Compens_2
Note 10 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 20 20 201 9 20 20 201 9 Cost of goods sold $ 25 $ 68 $ 98 $ 197 Research and development 188 242 572 699 Selling, general and administrative 891 1,016 2,670 2,883 Total $ 1,104 $ 1,326 $ 3,340 $ 3,779 |
Note 11 - Net Loss Per Share _2
Note 11 - Net Loss Per Share of Common Stock (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | September 30 , 20 20 201 9 ESPP, RSUs and stock options to purchase common stock 14,669,512 13,712,081 Common stock warrants 176,679 176,679 |
Note 1 - Organization and Sum_2
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) $ in Millions | Mar. 16, 2020 | Sep. 30, 2020USD ($) | Mar. 15, 2020 |
Co-Promotion Agreement, Percent of Net Sales to be Paid as Royalty Contingent on Performance Standards | 10.00% | ||
Restructuring and Related Cost, Number of Positions Eliminated | 30 | ||
Restructuring Charges, Total | $ 0.5 |
Note 2 - Investments and Fair_3
Note 2 - Investments and Fair Value Measurement (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | $ 0 | $ 0 | |||
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | $ 0 | $ 0 | 0 | $ 0 | |
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment, after Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Note 2 - Investments and Fair_4
Note 2 - Investments and Fair Value Measurement - Summary of Cash, Cash Equivalents and Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Amortized Cost | $ 43,023 | $ 66,137 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 43,023 | 66,137 |
Cash and Cash Equivalents [Member] | ||
Amortized Cost | 19,973 | 14,684 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 19,973 | 14,684 |
Cash and Cash Equivalents [Member] | Cash [Member] | ||
Amortized Cost | 1,357 | 1,957 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 1,357 | 1,957 |
Cash and Cash Equivalents [Member] | Money Market Funds [Member] | ||
Amortized Cost | 1,415 | 598 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 1,415 | 598 |
Cash and Cash Equivalents [Member] | U.S. Government Agency Securities [Member] | ||
Amortized Cost | 14,268 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Fair Value | 14,268 | |
Cash and Cash Equivalents [Member] | Commercial Paper [Member] | ||
Amortized Cost | 12,199 | 12,129 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 12,199 | 12,129 |
Marketable Securities [Member] | ||
Amortized Cost | 23,050 | 51,453 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 23,050 | 51,453 |
Marketable Securities [Member] | U.S. Government Agency Securities [Member] | ||
Amortized Cost | 5,002 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Fair Value | 5,002 | |
Marketable Securities [Member] | Commercial Paper [Member] | ||
Amortized Cost | 9,197 | 27,131 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 9,197 | 27,131 |
Marketable Securities [Member] | US Government Agencies Debt Securities [Member] | ||
Amortized Cost | 13,853 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Fair Value | $ 13,853 | |
Marketable Securities [Member] | Corporate Debt Securities [Member] | ||
Amortized Cost | 10,054 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Fair Value | $ 10,054 |
Note 2 - Investments and Fair_5
Note 2 - Investments and Fair Value Measurement - Fair Value of Financial Assets and Liabilities by Level Within Fair Value Hierarchy (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets, fair value | $ 41,666 | $ 64,180 |
Liabilities, fair value | 506 | 437 |
Contingent Put Option Liability [Member] | ||
Liabilities, fair value | 506 | 437 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 1,415 | 598 |
Liabilities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Contingent Put Option Liability [Member] | ||
Liabilities, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 40,251 | 63,582 |
Liabilities, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Contingent Put Option Liability [Member] | ||
Liabilities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Liabilities, fair value | 506 | 437 |
Fair Value, Inputs, Level 3 [Member] | Contingent Put Option Liability [Member] | ||
Liabilities, fair value | 506 | 437 |
Money Market Funds [Member] | ||
Assets, fair value | 1,415 | 598 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 1,415 | 598 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
U.S. Government Agency Securities [Member] | ||
Assets, fair value | 18,855 | 14,268 |
U.S. Government Agency Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
U.S. Government Agency Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 18,855 | 14,268 |
U.S. Government Agency Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Commercial Paper [Member] | ||
Assets, fair value | 21,396 | 39,260 |
Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 21,396 | 39,260 |
Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | $ 0 | 0 |
Corporate Debt Securities [Member] | ||
Assets, fair value | 10,054 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 10,054 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | $ 0 |
Note 2 - Investments and Fair_6
Note 2 - Investments and Fair Value Measurement - Summary of Changes in Fair Value of Level III Financial Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Fair value, Beginning of period | $ 591 | $ 657 | $ 437 | $ 121 |
Fair value of contingent put option associated with the Loan Agreement | (85) | (143) | 69 | 514 |
Change in fair value of contingent put option associated with the Prior Agreement | 0 | (121) | ||
Fair value, End of period | $ 506 | $ 514 | $ 506 | $ 514 |
Note 3 - Inventories, Net (Deta
Note 3 - Inventories, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Inventory Write-down | $ 0.2 | $ 0.6 |
Terminated Amended Agreements [Member] | ||
Inventory Write-down | 0.3 | |
DSUVIA [Member] | ||
Inventory Write-down | $ 0.3 |
Note 3 - Inventories, Net - Inv
Note 3 - Inventories, Net - Inventory Components (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Raw materials | $ 354 | $ 1,153 | |
Work-in-process | 112 | 593 | |
Finished goods | 1,516 | 1,549 | |
Total | $ 1,982 | $ 3,295 | [1] |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. |
Note 4 - Revenue from Contrac_3
Note 4 - Revenue from Contracts with Customers (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
May 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | [1] | Jul. 17, 2015 | |
Contract with Customer, Liability, Current | $ 196 | $ 196 | $ 411 | |||||
Amended License Agreement [Member] | ||||||||
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets | $ 194,500 | |||||||
Contract with Customer, Liability, Liability Eliminated | $ 0 | $ 0 | $ 2,572 | $ 0 | ||||
Amended License Agreement [Member] | Based upon Successful Regulatory and Product Development Efforts [Member] | ||||||||
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets | 28,500 | |||||||
Amended License Agreement [Member] | Based upon Net Sales Target Achievements [Member] | ||||||||
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets | $ 166,000 | |||||||
ZALVISO [Member] | ||||||||
Contract with Customer, Liability, Liability Eliminated | $ 2,600 | |||||||
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. |
Note 4 - Revenue from Contrac_4
Note 4 - Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue | $ 1,368 | $ 608 | $ 4,678 | $ 1,814 |
DSUVIA [Member] | ||||
Revenue | 935 | 116 | 1,092 | 218 |
ZALVISO [Member] | ||||
Revenue | 352 | 443 | 772 | 1,235 |
Product [Member] | ||||
Revenue | 1,287 | 559 | 1,864 | 1,453 |
Non-cash Royalty [Member] | ||||
Revenue | 60 | 36 | 181 | 239 |
Royalty [Member] | ||||
Revenue | 21 | 12 | 61 | 79 |
Contract and Other Revenue [Member] | ||||
Revenue | 0 | 1 | 2,572 | 43 |
Contract and Other Collaboration [Member] | ||||
Revenue | $ 81 | $ 49 | $ 2,814 | $ 361 |
Note 4 - Revenue from Contrac_5
Note 4 - Revenue from Contracts with Customers - Changes in Contract Liabilities (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
May 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Contract Liabilities: Deferred Revenue | $ 3,244 | ||||
Contract Liabilities: Deferred Revenue, Additions | 0 | ||||
Contract Liabilities: Deferred Revenue, Deductions | (3,048) | ||||
Contract Liabilities: Deferred Revenue | $ 196 | 196 | |||
Revenue | 1,368 | $ 608 | 4,678 | $ 1,814 | |
ZALVISO [Member] | |||||
Contract Liabilities: Deferred Revenue | 3,148 | ||||
Contract Liabilities: Deferred Revenue, Additions | 0 | ||||
Contract Liabilities: Deferred Revenue, Deductions | (2,952) | ||||
Contract Liabilities: Deferred Revenue | 196 | 196 | |||
Amounts included in contract liabilities at the beginning of the period: Performance obligations eliminated upon termination | $ 2,600 | ||||
Revenue | 352 | 443 | 772 | 1,235 | |
Amended License Agreement [Member] | |||||
Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied | 147 | 79 | 380 | 237 | |
Amounts included in contract liabilities at the beginning of the period: Performance obligations eliminated upon termination | 0 | 0 | 2,572 | 0 | |
New activities in the period from performance obligations satisfied: Performance obligations satisfied | 205 | 365 | 392 | 1,041 | |
Revenue | 352 | $ 444 | 3,344 | $ 1,278 | |
Product and Service, Other [Member] | |||||
Contract Liabilities: Deferred Revenue | 96 | ||||
Contract Liabilities: Deferred Revenue, Additions | 0 | ||||
Contract Liabilities: Deferred Revenue, Deductions | (96) | ||||
Contract Liabilities: Deferred Revenue | $ 0 | $ 0 |
Note 5 - Long-term Debt (Detail
Note 5 - Long-term Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Aug. 01, 2019 | May 30, 2019 | Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 |
Repayments of Long-term Debt, Total | $ 2,583 | $ 3,470 | |||
Amortization of Debt Discount (Premium) | 823 | $ 471 | |||
Leasehold Improvements [Member] | |||||
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total | $ 1,700 | 1,700 | |||
Site Readiness Agreement [Member] | |||||
Debt Instrument, Periodic Payment, Principal | $ 500 | ||||
Total Obligation Under Leasehold Agreement | $ 800 | $ 800 | |||
Debt Instrument, Interest Rate, Effective Percentage | 14.35% | 14.35% | |||
Warrant In Connection with Oxford Finance Loan Agreement [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 176,679 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.83 | ||||
Loan Agreement with Oxford Finance LLC [Member] | |||||
Debt Instrument, Face Amount | $ 25,000 | ||||
Repayments of Long-term Debt, Total | 8,900 | ||||
Proceeds from Debt, Net of Issuance Costs and Repayment of Debt | $ 15,900 | ||||
Long-term Debt, Total | $ 22,900 | $ 22,900 | |||
Interest Expense, Debt, Total | 700 | 2,400 | |||
Amortization of Debt Discount (Premium) | $ 200 | $ 700 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) | Sep. 30, 2020 |
Percentage of Office and Laboratory Space Sublease | 47.00% |
Note 6 - Leases - Operating Lea
Note 6 - Leases - Operating Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Operating lease costs | $ 305 | $ 340 | $ 914 | $ 1,020 |
Sublease income | (150) | (150) | (449) | (446) |
Net lease costs | $ 155 | $ 190 | $ 465 | $ 574 |
Weighted-average remaining term – operating lease (in years) (Year) | 3 years 3 months 21 days | 3 years 3 months 21 days | ||
Weighted-average discount rate – operating lease | 11.72% | 11.72% |
Note 6 - Leases - Maturities of
Note 6 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | [1] |
2020 (remaining three months) | $ 318 | ||
2021 | 1,364 | ||
2022 | 1,345 | ||
2023 | 1,386 | ||
2024 | 116 | ||
Total future minimum lease payments | 4,529 | ||
Less imputed interest | (592) | ||
Total | 3,937 | ||
Operating lease liabilities | 1,131 | $ 970 | |
Operating lease liabilities, net of current portion | 2,806 | $ 3,640 | |
Total lease liability | $ 3,937 | ||
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. |
Note 6 - Leases - Future Minimu
Note 6 - Leases - Future Minimum Sublease Payments (Details) $ in Thousands | Sep. 30, 2020USD ($) |
2020 (remaining three months) | $ 148 |
2021 | 610 |
2022 | 629 |
2023 | 648 |
2024 | 54 |
Total future minimum sublease payments | 2,089 |
Rent receivable | 374 |
Prepaid Expenses and Other Current Assets [Member] | |
Rent receivable | 91 |
Other Assets [Member] | |
Rent receivable | $ 283 |
Note 7 - Liability Related to_3
Note 7 - Liability Related to Sale of Future Royalties (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Sep. 18, 2015 | Sep. 30, 2020 | Jun. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 |
Proceeds From Sale of Royalty and Milestone Rights | $ 65 | |||||||
Royalty Arrangment Maximum Payments | $ 195 | |||||||
Prospective Average Rate for Remaining Term of the Agreement | 4.20% | |||||||
Contingent Gain (Loss) on Royalty Monetization Arrangement | $ 65 | |||||||
Effective Interest Over Life of Liability Related to Sale of Future Royalties | 0.00% | |||||||
Effective Annual Interest Rate | 3.60% | 4.20% | 3.60% | 0.50% | ||||
Net Income (Loss) from Change Estimate on Liability Related to Sale of Future Royalties | $ (2.7) | $ (5.4) | ||||||
Net Income (Loss) Per Share, Change Estimate on Liability Related to Sale of Future Royalties (in dollars per share) | $ (0.03) | $ (0.07) | ||||||
PDL [Member] | ||||||||
Percentage of Royalties and Rights Under Agreement | 75.00% | |||||||
PDL [Member] | First Four Commercial Milestones [Member] | ||||||||
Percentage of Royalties and Rights Under Agreement | 80.00% | |||||||
Commercial Milestones Value Maximum Amount Available | $ 35.6 | |||||||
AcelRX [Member] | First Four Commercial Milestones [Member] | ||||||||
Commercial Milestones Value Maximum Amount Available | $ 44.5 |
Note 7 - Liability Related to_4
Note 7 - Liability Related to Sale of Future Royalties - Activity of Liability Related to Sale of Future Royalties (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 60 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Dec. 31, 2019 | [1] | |
Liability related to sale of future royalties — beginning balance | $ 92,035 | $ 0 | |||||
Proceeds from sale of future royalties | 0 | 61,184 | |||||
Non-cash royalty revenue | (194) | (878) | |||||
Non-cash interest (income) expense recognized | $ (825) | $ (986) | (2,502) | $ (375) | 29,033 | ||
Liability related to sale of future royalties as of September 30, 2020 | 89,339 | 89,339 | 89,339 | ||||
Less: current portion | (225) | (225) | (225) | $ (352) | |||
Liability related to sale of future royalties — net of current portion | $ 89,114 | $ 89,114 | $ 89,114 | $ 91,683 | |||
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. |
Note 8 - Warrants (Details Text
Note 8 - Warrants (Details Textual) - Warrant In Connection with Oxford Finance Loan Agreement [Member] - $ / shares | Sep. 30, 2020 | May 30, 2019 |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 176,679 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.83 | |
Class of Warrant or Right, Outstanding (in shares) | 176,679 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Details Textual) - USD ($) | Jul. 23, 2020 | Jun. 16, 2020 | May 09, 2019 | Jun. 21, 2016 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Proceeds from Issuance of Common Stock | $ 11,400,000 | $ 1,233,000 | ||||||||
Stock Issued During Period, Value, New Issues | $ 9,951,000 | $ 665,000 | $ 784,000 | $ 1,233,000 | ||||||
The 2020 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 5,500,000 | |||||||||
The 2020 Equity Incentive Plan [Member] | Maximum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares to be Added (in shares) | 14,892,170 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||
Employee Stock Purchase Plan (ESPP) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 4,900,000 | |||||||||
Private Placement [Member] | Armistice Capital and Rock Springs Capital [Member] | ||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 9,433,962 | |||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.06 | |||||||||
Proceeds from Issuance of Common Stock | $ 10,000,000 | |||||||||
Estimated Offering Costs | $ 49,000 | |||||||||
ATM Agreement [Member] | ||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 0 | 876,800 | ||||||||
Proceeds from Issuance Initial Public Offering | $ 80,000,000 | $ 40,000,000 | ||||||||
Aggregate Offering Price, Increase During Period | $ 40,000,000 | |||||||||
Stock Issued During Period, Value, New Issues | $ 1,500,000 | |||||||||
Aggregate Offering Price, Maximum | $ 43,800,000 |
Note 10 - Stock-based Compens_3
Note 10 - Stock-based Compensation (Details Textual) - The 2020 Equity Incentive Plan [Member] | Sep. 30, 2020shares |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 5,885,526 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 12,914,185 |
Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 1,425,327 |
Note 10 - Stock-based Compens_4
Note 10 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Stock-based compensation expense | $ 1,104 | $ 1,326 | $ 3,340 | $ 3,779 |
Cost of Sales [Member] | ||||
Stock-based compensation expense | 25 | 68 | 98 | 197 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 188 | 242 | 572 | 699 |
Selling, General and Administrative Expenses [Member] | ||||
Stock-based compensation expense | $ 891 | $ 1,016 | $ 2,670 | $ 2,883 |
Note 11 - Net Loss Per Share _3
Note 11 - Net Loss Per Share of Common Stock - Common Stock Excluded From Computation of Diluted Net Loss Per Share (Details) - shares | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
RSU's, ESPP, and Employee Stock Options [Member] | ||
Antidilutive securities (in shares) | 14,669,512 | 13,712,081 |
Warrant [Member] | ||
Antidilutive securities (in shares) | 176,679 | 176,679 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - Subsequent Event [Member] | Oct. 01, 2020 |
La Jolla [Member] | |
Promotion Agreement, Termination Notice (Day) | 30 days |
Promotion Agreement, Period Before Termination is Available (Year) | 1 year |
La Jolla [Member] | |
Promotion Agreement, Term (Year) | 2 years |
Promotion Agreement, Termination Notice (Day) | 30 days |