Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 12, 2021 | |
Document Information [Line Items] | ||
Entity Registrant Name | KEMPHARM, INC | |
Entity Central Index Key | 0001434647 | |
Trading Symbol | kmph | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 28,507,297 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common |
Condensed Balance Sheets (Curre
Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 75,917 | $ 4,213 |
Accounts and other receivables | 11,308 | 2,579 |
Prepaid expenses and other current assets | 395 | 1,481 |
Restricted cash | 109 | 109 |
Total current assets | 87,729 | 8,382 |
Property and equipment, net | 975 | 1,039 |
Operating lease right-of-use assets | 1,294 | 1,350 |
Other long-term assets | 437 | 438 |
Total assets | 90,435 | 11,209 |
Liabilities and stockholders' equity (deficit) | ||
Accounts payable and accrued expenses | 2,855 | 6,647 |
Current portion of operating lease liabilities | 336 | 327 |
Current portion of loans payable | 683 | 390 |
Other current liabilities | 364 | 172 |
Total current liabilities | 4,238 | 7,536 |
Convertible notes, less current portion, net | 67,658 | |
Derivative and warrant liability | 334 | 304 |
Operating lease liabilities, less current portion | 1,500 | 1,587 |
Loans payable | 98 | 391 |
Other long-term liabilities | 14 | 145 |
Total liabilities | 6,184 | 77,621 |
Commitments and contingencies (Note D) | ||
Stockholders’ equity (deficit): | ||
Common stock, $0.0001 par value, 250,000,000 shares authorized, 28,480,156 shares issued and outstanding as of March 31, 2021 (unaudited); 4,537,321 shares issued and outstanding as of December 31, 2020 | 3 | |
Additional paid-in capital | 353,018 | 192,062 |
Accumulated deficit | (268,770) | (258,474) |
Total stockholders' equity (deficit) | 84,251 | (66,412) |
Total liabilities and stockholders' equity (deficit) | 90,435 | 11,209 |
Series A Convertible Preferred Stock [Member] | ||
Stockholders’ equity (deficit): | ||
Preferred stock | ||
Series B-1 Convertible Preferred Stock [Member] | ||
Stockholders’ equity (deficit): | ||
Preferred stock | ||
Series B-2 Convertible Preferred Stock [Member] | ||
Stockholders’ equity (deficit): | ||
Preferred stock | ||
Undesignated Preferred Stock [Member] | ||
Stockholders’ equity (deficit): | ||
Preferred stock |
Condensed Balance Sheets (Cur_2
Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 |
Common stock, shares issued (in shares) | 28,480,156 | 4,537,321 |
Common stock, shares outstanding (in shares) | 28,480,156 | 4,537,321 |
Series A Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 9,578 | 9,578 |
Preferred stock, shares issued (in shares) | 9,577 | 9,577 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series B-1 Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 1,576 | 1,576 |
Preferred stock, shares issued (in shares) | 1,576 | 1,576 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series B-2 Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 31,480 | 27,000 |
Preferred stock, shares issued (in shares) | 31,476.98412 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Undesignated Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 9,957,366 | 9,961,846 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Unaudited Condensed Statements
Unaudited Condensed Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenue | $ 12,117 | $ 2,089 |
Operating expenses: | ||
Royalty and direct contract acquisition costs | 1,000 | 663 |
Research and development | 2,265 | 2,126 |
General and administrative | 1,892 | 2,245 |
Severance expense | 830 | |
Total operating expenses | 5,157 | 5,864 |
Income (loss) from operations | 6,960 | (3,775) |
Other (expense) income: | ||
Loss on extinguishment of debt | (16,885) | |
Interest expense related to amortization of debt issuance costs and discount | (150) | (571) |
Interest expense on principal | (199) | (1,260) |
Fair value adjustment related to derivative and warrant liability | (30) | 75 |
Interest and other income (expense), net | 8 | (223) |
Total other expenses | (17,256) | (1,979) |
Loss before income taxes | (10,296) | (5,754) |
Income tax benefit (expense) | ||
Net loss | (10,296) | (5,754) |
Deemed dividend | (37,444) | |
Net loss attributable to common stockholders | $ (47,740) | $ (5,754) |
Basic and diluted net loss per share of common stock: | ||
Net loss (in dollars per share) | $ (0.54) | $ (1.92) |
Net loss attributable to common stockholders (in dollars per share) | (2.49) | (1.92) |
Weighted average number of shares of common stock outstanding: | ||
Basic and diluted (in dollars per share) | $ 19,146,270 | $ 3,004,559 |
Unaudited Condensed Statement_2
Unaudited Condensed Statements of Changes in Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Underwritten Public Offering [Member]Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Underwritten Public Offering [Member]Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Underwritten Public Offering [Member]Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Underwritten Public Offering [Member]Undesignated Preferred Stock [Member] | Underwritten Public Offering [Member]Common Stock [Member] | Underwritten Public Offering [Member]Additional Paid-in Capital [Member] | Underwritten Public Offering [Member]Retained Earnings [Member] | Underwritten Public Offering [Member] | Equity Line of Credit [Member]Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Equity Line of Credit [Member]Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Equity Line of Credit [Member]Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Equity Line of Credit [Member]Undesignated Preferred Stock [Member] | Equity Line of Credit [Member]Common Stock [Member] | Equity Line of Credit [Member]Additional Paid-in Capital [Member] | Equity Line of Credit [Member]Retained Earnings [Member] | Equity Line of Credit [Member] | Optional Exchange Principal Amount [Member]Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Optional Exchange Principal Amount [Member]Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Optional Exchange Principal Amount [Member]Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Optional Exchange Principal Amount [Member]Undesignated Preferred Stock [Member] | Optional Exchange Principal Amount [Member]Common Stock [Member] | Optional Exchange Principal Amount [Member]Additional Paid-in Capital [Member] | Optional Exchange Principal Amount [Member]Retained Earnings [Member] | Optional Exchange Principal Amount [Member] | Inducement Warrants [Member]Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Inducement Warrants [Member]Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Inducement Warrants [Member]Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Inducement Warrants [Member]Undesignated Preferred Stock [Member] | Inducement Warrants [Member]Common Stock [Member] | Inducement Warrants [Member]Additional Paid-in Capital [Member] | Inducement Warrants [Member]Retained Earnings [Member] | Inducement Warrants [Member] | Warrants to Purchase Common Stock [Member]Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Warrants to Purchase Common Stock [Member]Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Warrants to Purchase Common Stock [Member]Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Warrants to Purchase Common Stock [Member]Undesignated Preferred Stock [Member] | Warrants to Purchase Common Stock [Member]Common Stock [Member] | Warrants to Purchase Common Stock [Member]Additional Paid-in Capital [Member] | Warrants to Purchase Common Stock [Member]Retained Earnings [Member] | Warrants to Purchase Common Stock [Member] | Exchange Warrants [Member]Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Exchange Warrants [Member]Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Exchange Warrants [Member]Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Exchange Warrants [Member]Undesignated Preferred Stock [Member] | Exchange Warrants [Member]Common Stock [Member] | Exchange Warrants [Member]Additional Paid-in Capital [Member] | Exchange Warrants [Member]Retained Earnings [Member] | Exchange Warrants [Member] | Conversion of Facility Notes into Series B-2 Preferred Stock [Member]Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Conversion of Facility Notes into Series B-2 Preferred Stock [Member]Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Conversion of Facility Notes into Series B-2 Preferred Stock [Member]Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Conversion of Facility Notes into Series B-2 Preferred Stock [Member]Undesignated Preferred Stock [Member] | Conversion of Facility Notes into Series B-2 Preferred Stock [Member]Common Stock [Member] | Conversion of Facility Notes into Series B-2 Preferred Stock [Member]Additional Paid-in Capital [Member] | Conversion of Facility Notes into Series B-2 Preferred Stock [Member]Retained Earnings [Member] | Conversion of Facility Notes into Series B-2 Preferred Stock [Member] | Conversion of Series B-2 Preferred Stock into Common Stock [Member]Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Conversion of Series B-2 Preferred Stock into Common Stock [Member]Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Conversion of Series B-2 Preferred Stock into Common Stock [Member]Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Conversion of Series B-2 Preferred Stock into Common Stock [Member]Undesignated Preferred Stock [Member] | Conversion of Series B-2 Preferred Stock into Common Stock [Member]Common Stock [Member] | Conversion of Series B-2 Preferred Stock into Common Stock [Member]Additional Paid-in Capital [Member] | Conversion of Series B-2 Preferred Stock into Common Stock [Member]Retained Earnings [Member] | Conversion of Series B-2 Preferred Stock into Common Stock [Member] | Preferred Stock [Member]Series A Convertible Preferred Stock [Member] | Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Preferred Stock [Member]Series B-2 Convertible Preferred Stock [Member] | Undesignated Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2019 | $ 171,258 | $ (245,714) | $ (74,456) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (5,754) | (5,754) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 1,029 | 1,029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with Public Offering, net of discounts and commissions | $ 1,112 | $ 1,112 | $ 9,600 | $ 9,600 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering expenses charged to equity | (327) | (327) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2020 | 182,793 | (251,468) | (68,675) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in estimated deferred offering costs | $ 121 | $ 121 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2020 | 192,062 | (258,474) | (66,412) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (10,296) | (10,296) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 675 | 675 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with Public Offering, net of discounts and commissions | $ 1 | $ 49,284 | $ 49,285 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with the exercise of warrants | $ 1 | $ 40,390 | $ 40,391 | $ 25,593 | $ 25,593 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants issued | $ 38,437 | $ 38,437 | $ 15,990 | $ 15,990 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of stock as a result of conversion | $ 29,056 | $ 29,056 | $ (29,056) | $ 1 | $ 29,055 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deemed dividend related the Inducement Transaction | (37,444) | (37,444) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering expenses charged to equity | (1,106) | (1,106) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in exchange for consulting services | 82 | 82 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2021 | $ 3 | $ 353,018 | $ (268,770) | $ 84,251 |
Unaudited Condensed Statement_3
Unaudited Condensed Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | 15 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Mar. 31, 2021 | |
Cash flows from operating activities: | ||||
Net loss | $ (10,296) | $ (5,754) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Loss on extinguishment of debt | 16,885 | |||
Stock-based compensation expense | 675 | 1,029 | ||
Non-cash interest expense | 1,244 | |||
Amortization of debt issuance costs and debt discount | 150 | 571 | ||
Depreciation and amortization expense | 64 | 72 | ||
Fair value adjustment related to derivative and warrant liability | 30 | (75) | ||
Loss on sublease and disposal of property and equipment | 200 | |||
Consulting fees paid in common stock | 82 | |||
Change in assets and liabilities: | ||||
Accounts and other receivables | (8,729) | (400) | ||
Prepaid expenses and other assets | 273 | 455 | ||
Operating lease right-of-use assets | 56 | 86 | ||
Accounts payable and accrued expenses | (1,820) | 586 | ||
Operating lease liabilities | (78) | (48) | ||
Other liabilities | 122 | 12 | ||
Net cash used in operating activities | (2,586) | (2,022) | ||
Cash flows from investing activities: | ||||
Purchases of property and equipment | (11) | |||
Net cash used in investing activities | (11) | |||
Cash flows from financing activities: | ||||
Proceeds from Public Offering, net of discounts and commissions | 49,285 | |||
Proceeds from Inducement Transaction, net of discounts and commissions | 41,384 | |||
Proceeds from equity line of credit | 1,112 | |||
Payment of offering costs | (1,106) | |||
Repayment of principal on finance lease liabilities | (61) | (58) | ||
Payment of debt issuance costs | (2,881) | (34) | ||
Repayment of principal on convertible notes | (37,924) | |||
Net proceeds from exercise of common stock warrants | 25,593 | |||
Net cash provided by financing activities | 74,290 | 1,020 | ||
Net increase (decrease) in cash, cash equivalents and restricted cash | 71,704 | (1,013) | ||
Cash, cash equivalents and restricted cash, beginning of period | 4,322 | 3,555 | $ 3,555 | $ 3,555 |
Cash, cash equivalents and restricted cash, end of period | 76,026 | 2,542 | $ 4,322 | $ 76,026 |
Supplemental cash flow information: | ||||
Cash paid for interest | 199 | 52 | ||
Commitment shares issued in connection with equity line of credit included in deferred offering costs | 121 | |||
Amounts due for property and equipment included in accounts payable and accrued expenses | 4 | 4 | ||
Amounts due for deferred offering costs included in accounts payable and accrued expenses | 17 | 123 | ||
Fair value of warrants issued to underwriters in connection with Public Offering | 3,485 | |||
Conversion of Facility Notes into Series B-2 Preferred Stock [Member] | ||||
Supplemental cash flow information: | ||||
Notes principal converted | 31,477 | |||
The 2019 Notes Converted to Common Stock [Member] | ||||
Supplemental cash flow information: | ||||
Notes principal converted | $ 9,600 |
Note A - Description of Busines
Note A - Description of Business and Basis of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | A. Description of Business and Basis of Presentation Organization KemPharm, Inc. (the “Company”) is a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs to treat serious medical conditions through its proprietary Ligand Activated Therapy ("LAT") technology. The Company utilizes its proprietary LAT technology to generate improved prodrug versions of U.S. Food and Drug Administration (the "FDA") approved drugs as well as to generate prodrug versions of existing compounds that may March 2, 2021, KP415 six KP484, KP879. Reverse Stock Split On December 23, 2020, one sixteen not $0.0001 No Entry into 2020 In February 2020, “2020 may $4.0 12 2020 2020 19,289 2020 2020 “2020 may 2020 3 May 2020, 579,260 19,289 2 2020 2020 May 2020, 559,971 19,289 2020 $2.3 Underwriting Agreement On January 8, 2021, 6,765,463 926,844 7,692,307 $6.50 1 No. 333 250945 $6.50 $6.4999 $0.0001 45 1,153,846 1,153,846 On January 8, 2021, 754,035 February 1, 2021, 374,035 On January 12, 2021, $52.4 Listing on the Nasdaq Capital Market On January 7, 2021, January 8, 2021 |
Note B - Summary of Significant
Note B - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | B. Summary of Significant Accounting Policies Use of Estimates The preparation of unaudited condensed financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the unaudited condensed financial statements and accompanying notes. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives of property and equipment, the recoverability of long-lived assets, the incremental borrowing rate for leases, and assumptions used for purposes of determining stock-based compensation, income taxes, and the fair value of the derivative and warrant liability, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Revenue Recognition The Company commenced recognizing revenue in accordance with the provisions of ASC 606, Revenue from Contracts with Customers 606” January 1, 2018. Arrangements with Multiple-Performance Obligations From time to time, the Company enters into arrangements for research and development, manufacturing and/or commercialization services. Such arrangements may In arrangements involving more than one not The consideration allocated to each distinct performance obligation is recognized as revenue when control of the related goods or services is transferred. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not Licensing Agreements The Company enters into licensing agreements with licensees that fall under the scope of ASC 606. The terms of the Company's licensing agreements typically include one may As part of the accounting for these agreements, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. Generally, the estimation of the stand-alone selling price may Up-front Fees: Milestone Payments: not not not may KP415 In September 2019, “KP415 KP415 KP484, KP879, KP922 KP484, KP415 $10.0 $63.0 KP484; $420.0 KP415 KP415 KP415 In exchange for the exclusive, worldwide license, discussed above, Commave paid the Company a non-refundable upfront payment of $10.0 $63.0 KP484. May 2020, KP415 $5.0 $420.0 KP415 KP415 Commave also agreed to be responsible for and reimburse the Company for all of the development, commercialization and regulatory expenses incurred on the licensed products, subject to certain limitations as set forth in the KP415 The KP415 KP484. KP484; In accordance with the terms of the Company's March 20, 2012 10% KP484 KP879 KP415 The KP415 606, not KP415 606, third two $10.0 KP415 The consideration allocated to the grant of the exclusive, worldwide license was $10.0 KP415 KP415 The consideration allocated to the performance of consulting services, which includes the reimbursement of out-of-pocket third KP415 third third no third third third third 606 third third KP415 March 31, 2021, third Under the KP415 first 1 may may KP415 KP415 first not third 606 not not The Company is entitled to additional payments from Commave conditioned upon the achievement of specified regulatory milestones related to AZSTARYS and KP484 KP415 KP415 not not not For example, in May 2020, KP415 $5.0 two second 2020 $5.0 second 2020. On April 8, 2021, No. 1 KP415 "KP415 KP415 KP415 KP415 $10.0 KP415 March 2, 2021. $10.0 thirty May 7, 2020. KP415 $590.0 KP415 Pursuant to the KP415 first KP922, no first first first Per the KP415 $10.0 two first 2021 $10.0 first 2021. 340 40, Contracts with Customers $1.0 For the three March 31, 2021 2020, KP415 $10.0 $2.1 no March 31, 2021 December 31, 2020. APADAZ License Agreement In October 2018, Pursuant to the APADAZ License Agreement, KVK agreed to pay the Company certain payments and cost reimbursements of an estimated $3.4 $2.0 10 $53.0 30% 50% four The APADAZ License Agreement will terminate on the later of the date that all of the patent rights for APADAZ have expired in the United States or KVK's cessation of commercialization of APADAZ in the United States. KVK may 90 third may 18 may six may 30 not The APADAZ License Agreement also established a joint steering committee, which monitors progress of the commercialization of APADAZ. Consulting Arrangements The Company enters into consulting arrangements with third 606. may third Corium Consulting Agreement In July 2020, KP415 Under the Corium Consulting Agreement, the Company is entitled to receive payments from Corium of up to $15.6 $13.6 March 31, 2022. $2.0 The Corium Consulting Agreement is within the scope of ASC 606, not 606, third $13.6 third not not not The Company determined that the performance of consulting services, including reimbursement of third third 606 March 31, 2021, 45% third For the three March 31, 2021, $1.6 no three March 31, 2020 March 31, 2021, $0.2 December 31, 2020, $0.1 Other Consulting Arrangements For the three March 31, 2021, $0.5 no three March 31, 2020. no March 31, 2021 December 31, 2020. Accounts and Other Receivables Accounts and other receivables consists of receivables under the KP415 KP415 third March 31, 2021, $0.6 $0.6 $10.0 KP415 December 31, 2020, $2.1 $0.4 no KP415 March 31, 2021 December 31, 2020, no Application of New or Revised Accounting Standards—Adopted From time to time, the Financial Accounting Standards Board (the “FASB”) or other standard-setting bodies issue accounting standards that are adopted by the Company as of the specified effective date. In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2016 13” not not December 15, 2019, 2016 13 not In August 2018, 2018 13, Fair Value Measurement (Topic 820 Disclosure Framework Changes to the Disclosure Requirements for Fair Value Measurement 2018 13” 820, Conceptual Framework for Financial Reporting Chapter 8: August 28, 2018, December 15, 2019, 3 2018 13 not Application of New or Revised Accounting Standards—Not Yet Adopted In August 2020, 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 and Derivatives and Hedging Contracts in Entity s Own Equity (Subtopic 815 40 Accounting for Convertible Instruments and Contracts in an Entity s Own Equity 2020 06” December 15, 2021, no December 15, 2020, 2020 06 |
Note C - Debt Obligations
Note C - Debt Obligations | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | C. Debt Obligations As of March 31, 2021 no December 31, 2020, $68.2 Deerfield Facility Agreement In June 2014, $60 first $15 $10 $5.85 December 2020, $93.60. The Deerfield Convertible Note originally bore interest at 9.75% 6.75%. one third fourth fifth June 2018 June 2019). June 2018, $3,333,333 $168,288 37,410 September 2019, 9.75% 6.75%, June 1, 2020 “2021 September 2019”). December 2019, March 31, 2021 “2021 December 2019”). $6,980,824 March 31, 2021. not Pursuant to the Deerfield Facility Agreement, the Company issued to Deerfield a warrant to purchase 14,423,076 $0.78 June 2, 2024 1,923,077 $5.85 December 2020, 120,192 $93.60 January 2021 $46.25 260, may The Company recorded the fair value of the shares of Series D Preferred to debt issuance costs on the date of issuance. The Company also recorded the fair value of the Deerfield Warrant and the embedded Warrant Put Option to debt discount on the date of issuance. The debt issuance costs and debt discount were amortized over the term of the related debt and the expense was recorded as interest expense related to amortization of debt issuance costs and discount in the unaudited condensed statements of operations. In February 2021, Pursuant to the Deerfield Facility Agreement, the Company was not $750,000 Issuance of 5.50% Senior Convertible Notes and Third Amendment to Senior Secured Convertible Note and Warrant In February 2016, $86.3 5.50% 2021 “2021 2021 144A 1933, The 2021 February 9, 2016 2021 February 1 August 1 August 1, 2016, 5.50% 2021 February 1, 2021 The net proceeds from the Note Offering were approximately $82.8 $18.6 The 2021 not no 2021 2021 58.4454 $1,000 2021 $17.11 December 2020, 2021 3.6528 $1,000 2021 $273.76 If the Company underwent a “fundamental change” (as defined in the Indenture), holders could have required that the Company repurchase for cash all or any portion of their 2021 100% 2021 The Indenture included customary terms and covenants, including certain events of default after which the 2021 may As described in more detail below, in multiple exchanges occurring in December 2019 January 2020, 2021 2021 December 2019 In December 2019, December 2019 “December 2019 “December 2019 December 2019 $71,418,011 “December 2019 $71,418,011 2021 December 2019 December 2019 $745,011 50% December 18, 2019, 2021 December 2019 December 2019 The December 2019 6.75% December 2019 $17.11 2021 December 2019 December 2020, December 2019 $273.76 December 2019 $93.60 December 2019 December 2019 415 December 2019 $93.60 not x 2020 September 2019 December 2019 not December 2019 $9.328 December 2019 December 2019 4.985% December 2019 4.985% 19.985% December 2019 December 2019 December 2019 March 31, 2021, not December 2019 December 2019 December 2019 December 2019 December 2019 December 2019 The December 2019 December 2019 December 2019 December 2019 February 14, 2020 June 1, 2020, March 31, 2021, March 31, 2021 may The December 2019 December 2019 December 2019 $93.60 December 2019 The December 2019 December 2019 The December 2019 December 2019 may one In connection with entering into the December 2019 December 18, 2019, June 2, 2014, In connection with entering into the December 2019 “September 2019 September 2019 September 2019 December 2019 September 2019 September 2019 x $0.60, 15 no 28,439,015 September 2019 2 September 2019 may September 2019 September 2019 September December 2020, $9.60 15 1,777,437 In connection with entering into the September 2019 2 2 2 2 September 2019 $9.60 15 As of March 31, 2021, $17.1 December 2019 1,777,437 The Company determined the changes to the Deerfield Convertible Note met the definition of a troubled debt restructuring under ASC 470 60, Troubled Debt Restructurings by Debtors no The changes to the 2021 December 2019 December 2019 December 2019 2021 January 2020 In January 2020, January 2020 “January 2020 January 2020 $3,037,354 “January 2020 $3,037,354 2021 January 2020 $37,354, 50% January 13, 2020, 2021 January 2020 The January 2020 December 2019 In connection with entering into the January 2020 December 2019 “December 2019 December 2019 December 2019 December 2019 $17.11 $5.85 December 2019 $0.38 $0.583 x 2020 December 2020, $93.60 $9.328 The changes to the 2021 January 2020 January 2020 January 2020 December 2020 Rights Agreement In December 2020, December 2020 “December 2020 December 2020 December 2019 January 2020 $30.3 January 1, 2021, December 2020 2 Q4 December 2020 “December 2020 The December 2020 not March 31, 2023. Subject to the satisfaction or waiver of certain conditions specified in the December 2020 December 2020 June 2, 2014, March 31, 2023, ( July 1, 2021, The December 2020 February 19, 2015 ( December 2020 The Exchange Warrants issued pursuant to the December 2020 75% 2 1, no. 333 250945 4.985% In anticipation of the Public Offering, and to meet the Nasdaq Listing Requirements, the Company agreed in December 2020 December 2019 January 2020 $60.8 $7.5 $69.4 December 31, 2020. Under the terms of the December 2020 January 12, 2021, ● Exchanged $31.5 31,476.98412 2 3,632,019 ● Made a payment of $30.3 Following the completion of these transactions, the aggregate balance of principal and accrued interest remaining outstanding under the Facility Notes was approximately $7.6 December 2020 ● The maturity date was changed to March 31, 2023, ● Interest would accrue at the rate of 6.75% June 30, 2021, The changes to the Facility Notes, under the December 2020 December 2020 December 2020 not three March 31, 2021 The transactions contemplated under the December 2020 2 2 As a condition to closing of the December 2020 2 2 2 Each share of Series B- 2 $1,000 The Series B- 2 2 2 4.985% 2 not 2 $1,000 2 2 2 2 2 2 not 2 not not 2 2 2 2 Payoff of Facility Agreement Notes and Termination of Facility Agreement On February 8, 2021, Pursuant to the payoff letter, the Company paid a total of $8.0 Pursuant to the payoff letter, all outstanding indebtedness and obligations of the Company owing to the Facility Agreement Note Holders under the Facility Agreement have been paid in full. The Facility Agreement and the notes thereunder, as well as the security interests in the assets of the Company securing the Facility Agreement and note obligations, have been terminated. The Facility Agreement Note Holders will retain the warrants previously issued to them by the Company. The Company determined the payoff letter met the liability derecognition threshold under ASC 405 20, Liabilities - Extinguishment of Liabilities no three March 31, 2021. PPP Loan On April 23, 2020, $0.8 may April 23, 2022 1.0%. first six March 31, 2021, $0.7 $0.1 The CARES Act and the PPP provide a mechanism for forgiveness of up to the full amount borrowed. Under the PPP, the Company may fourth 2020 eight 75% eight On June 5, 2020, 2020 ● Extended the covered period for loan forgiveness from eight 24 eight ● Lowered the requirements that 75 75 24 60 60 60 ● Provided a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees for borrowers that are unable to return to the same level of business activity the business was operating at before February 15, 2020, March 1, 2020 December 31, 2020 COVID–19. ● Provided a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees, to provide protections for borrowers that are both unable to rehire individuals who were employees of the borrower on February 15, 2020, December 31, 2020. ● Increased to five June 5, 2020. ● Extended the deferral period for borrower payments of principal, interest, and fees on PPP loans to the date that SBA remits the borrower's loan forgiveness amount to the lender (or, if the borrower does not 10 Based on the changes provided by the Flexibility Act the Company took advantage of (i) the extended covered period for loan forgiveness from eight 24 75 60 six 10 not Letters of Credit As of March 31, 2021, one |
Note D - Commitments and Contin
Note D - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | D. Commitments and Contingencies From time to time, the Company is involved in various legal proceedings arising in the normal course of business. For some matters, a liability is not not March 31, 2021 December 31, 2020 no |
Note E - Preferred Stock and Wa
Note E - Preferred Stock and Warrants | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | E. Preferred Stock and Warrants Authorized, Issued, and Outstanding Preferred Stock As of March 31, 2021, 10,000,000 9,578 1,576 1 31,480 2 9,577 1,576 1 31,476.98412 2 March 31, 2021. December 31, 2020, 10,000,000 9,578 1,576 1 27,000 2 9,577 1,576 1 no 2 December 31, 2020. March 31, 2021 December 31, 2020, no 1 2 Series B- 2 Pursuant to the December 2020 January 12, 2021, 31,476.98412 2 3,632,019 The Series B- 2 4,842,690 $6.4999. No 2 2 Amended and Restated Certificate of Designation of Preferences, Rights and Limitations of the Series B- 2 Convertible Preferred Stock On January 11, 2021, December 2020 2 2 2 Immediately following, the closing of the Public Offering, pursuant to the terms of the December 2020 ● Exchanged approximately $31.5 2 ● made a payment of approximately $30.3 Upon the closing of the Exchange and related Debt Payment, the amendments to the Facility Agreement, the Notes and the Investors' Rights Agreement, dated as of February 19, 2015, December 2020 2 2 January 12, 2021. As of March 31, 2021, 2 4,842,699 |
Note F - Common Stock and Warra
Note F - Common Stock and Warrants | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | F. Common Stock and Warrants Authorized, Issued, and Outstanding Common Shares As of March 31, 2021 December 31, 2020 250,000,000 28,480,156 4,537,321 March 31, 2021 December 31, 2020 As of March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Conversion of Deerfield Convertible Note — 81,101 Conversion of January 2020 Note — 34,615 Conversion of December 2019 Notes — 625,747 Outstanding awards under equity incentive plans 354,869 355,785 Outstanding common stock warrants 9,544,693 151,442 Possible future issuances under equity incentive plans 229,317 47,825 Total common shares reserved for future issuance 10,128,879 1,296,515 Common Stock Activity The following table summarizes common stock activity for the three March 31, 2021 : Shares of Common Stock Balance as of December 31, 2020 4,537,321 Common stock issued as a result of the Public Offering 7,139,498 Common stock issued as a result of Series B-2 Preferred Stock conversions 4,842,699 Common stock issued as a result of warrant exercises 11,951,038 Common stock issued as compensation to third-parties 9,600 Balance as of March 31, 2021 28,480,156 Warrants On June 2, 2014, 14,423,076 June 2, 2024, 1,923,077 $5.85 December 2020, $93.60 120,192 January 26, 2021 ( $93.60 $46.25 February 2021 The Company determined that the Deerfield Warrant should be recorded as a liability and stated at fair value at each reporting period upon inception. As stated above, upon completion of the IPO, the Deerfield Warrant automatically converted into warrants to purchase the Company's common stock. The Deerfield Warrant remains classified as a liability and is recorded at fair value at each reporting period since it can be settled in cash. Changes to the fair value of the warrant liability are recorded through the unaudited condensed statements of operations as a fair value adjustment (Note H). In connection with the APADAZ License Agreement, in October 2018, 500,000 $2.30 not four 125,000 500,000 October 24, 2023. may December 2020, $36.80 31,250 The Company determined that, since KVK qualifies as a customer under ASC 606, 815 815 606 March 31, 2021 December 31, 2020, $0.4 Pre-Funded Warrants On January 12, 2021, 926,844 $0.0001. March 31, 2021, 926,841 $72. Warrants to Purchase Common Stock On January 12, 2021, December 2020 12,078,361 December 2020 fifth $6.50 may may not 13 4.99% not 50% 50% not March 31, 2021, 3,157,895 2,726,918 $14.9 Underwriter Warrant On January 12, 2021, 806,932 $8.125 5.0% February 3, 2021, 18,702 March 31, 2021, no Warrant Exercise Inducement Letters and Issuance of Warrants On January 26, 2021, 6,620,358 7,944,430 120% $0.125 $6.36 $44.0 6% $93.60 $46.25 The Inducement Warrants were immediately exercisable and expire on the fifth $6.36 may may not 13 4.99% 9.99% not 50% 50% not March 31, 2021, 1,676,921 1,676,921 $10.7 In accordance with the Inducement Transaction we recognized a deemed dividend of $37.4 |
Note G - Stock-based Compensati
Note G - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | G. Stock-Based Compensation The Company maintains a stock-based compensation plan (the “Incentive Stock Plan”) that governs stock awards made to employees and directors prior to completion of the IPO. In November 2014, April 2015, 2014 “2014 April 2015. 2014 may 2014 589,659 March 31, 2021. 2014 January 1 January 1, 2016, January 1, 2024, 4% December 31 2014 January 1, 2021, 2014 181,492 During 2020, 2014 2020. three March 31, 2020, 3,806 No three March 31, 2021. No three March 31, 2021 2020. Stock-based compensation expense recorded under the Incentive Stock Plan and the 2014 Three months ended March 31, 2021 2020 Research and development $ 296 $ 246 General and administrative 379 363 Severance expense — 420 Total stock-based compensation expense $ 675 $ 1,029 There was $0.4 three March 31, 2021. no three March 31, 2020. |
Note H - Fair Value of Financia
Note H - Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | H. Fair Value of Financial Instruments The accounting standard for fair value measurements provides a framework for measuring fair value and requires disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, based on the Company's principal or, in absence of a principal, most advantageous market for the specific asset or liability. The Company uses a three three ● Level 1—Observable ● Level 2—Observable ● Level 3—Unobservable no The carrying amounts of certain financial instruments, including cash and cash equivalents, restricted cash and accounts payable and accrued expenses, approximate their respective fair values due to the short-term nature of such instruments. The fair values of the Deerfield Convertible Note, December 2019 January 2020 $7.3 $56.2 $3.1 December 31, 2020. December 2019 January 2020 first 2021 no March 31, 2021. December 2019 January 2020 3 December 2019 January 2020 December 31, 2020. Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. This determination requires significant judgments to be made. The following table summarizes the conclusions reached regarding fair value measurements as of March 31, 2021 December 31, 2020 ( Balance as of March 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Deerfield Warrant liability $ 240 $ — $ — $ 240 Embedded Warrant Put Option 52 — — 52 KVK Warrant liability 42 — 42 — Total liabilities $ 334 $ — $ 42 $ 292 Balance as of December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Deerfield Warrant liability $ 230 $ — $ — $ 230 Embedded Warrant Put Option 25 — — 25 Deerfield Note Conversion Feature — — — — KVK Warrant liability 49 — 49 — Total liabilities $ 304 $ — $ 49 $ 255 The Company's Deerfield Warrant liability and embedded Warrant Put Option are, and the embedded Deerfield Note Put Option was, measured at fair value on a recurring basis. As of March 31, 2021, December 31, 2020 three March 31, 2021 2020 The derivative liability for the Deerfield Warrant was $240,000 $230,000 March 31, 2021 December 31, 2020, $52,000 $25,000 March 31, 2021 December 31, 2020, no December 31, 2020. 10% $61,000 $1,000 14% $35.3 30% $1.1 fourth 2022. The Company's KVK Warrant liability is measured at fair value on a recurring basis. As of March 31, 2021 December 31, 2020, no not not three March 31, 2021 2020 A reconciliation of the beginning and ending balances for the derivative and warrant liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3 Three months ended March 31, 2021 2020 Balance as of beginning of period $ 255 $ 96 Adjustment to fair value 37 (58 ) Balance as of end of period $ 292 $ 38 |
Note I - Net Loss Per Share
Note I - Net Loss Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | I. Net Loss Per Share Under the two No no two two Diluted net loss per share of common stock is the same as basic net loss per share of common stock for the three March 31, 2021 2020 Three months ended March 31, 2021 2020 Conversion of Deerfield Convertible Note — 77,123 Conversion of January 2020 Note — 32,917 Conversion of December 2019 Notes* — 1,246,486 Awards under equity incentive plans 354,869 395,197 Common stock warrants 9,544,693 151,442 Total securities excluded from the calculation of weighted average number of shares of common stock outstanding 9,899,562 1,903,165 * Inclusive of 652,437 shares of Common Stock issuable (i) in exchange of the Deerfield Optional Conversion Feature, or (ii) upon conversion of the Series B-2 Preferred Stock issuable in exchange of the Deerfield Optional Conversion Feature. |
Note J - Severance Expense
Note J - Severance Expense | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | J. Severance Expense In February 2020, June 2015. $0.4 $0.4 three March 31, 2020. December 31, 2020, $0.1 three March 31, 2021, no |
Note K - Leases
Note K - Leases | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lease Disclosure [Text Block] | K. Leases The Company has operating and finance leases for office space, laboratory facilities and various laboratory equipment, furniture and office equipment and leasehold improvements. The Company's leases have remaining lease terms of less than 1 5 5 1 February 2020, one two February 2026. October 2020, 19. The components of lease expense were as follows (in thousands): Three months ended March 31, Lease Cost 2021 2020 Finance lease cost: Amortization of right-of-use assets $ 32 $ 31 Interest on lease liabilities 4 8 Total finance lease cost 36 39 Operating lease cost 91 89 Short-term lease cost 50 57 Variable lease cost 13 14 Less: sublease income — (13 ) Total lease costs $ 190 $ 186 Supplemental cash flow information related to leases was as follows (in thousands): Three months ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 4 $ 8 Financing cash flows from finance leases 61 58 Operating cash flows from operating leases 114 109 Operating cash flows from short-term leases 50 57 Operating cash flows from variable lease costs 13 14 Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ — $ — Operating leases — 20 Supplemental balance sheet information related to leases was as follows (in thousands, except weighted average remaining lease term and weighted average discount rate): March 31, December 31, 2021 2020 Finance Leases Property and equipment, at cost $ 1,031 $ 1,031 less: accumulated depreciation and amortization (555 ) (523 ) Property and equipment, net $ 476 $ 508 Other current liabilities $ 119 $ 172 Other long-term liabilities 14 22 Total finance lease liabilities $ 133 $ 194 Operating Leases Operating lease right-of-use assets $ 1,294 $ 1,350 Total operating lease right-of-use assets $ 1,294 $ 1,350 Current portion of operating lease liabilities $ 336 $ 327 Operating lease liabilities, less current portion 1,500 1,587 Total operating lease liabilities $ 1,836 $ 1,914 Weighted Average Remaining Lease Term Finance leases (years) 1 1 Operating leases (years) 5 5 Weighted Average Discount Rate Finance leases 8.8 % 8.5 % Operating leases 7.5 % 7.5 % Maturities of lease liabilities were as follows (in thousands): Finance Operating Year Ending December 31, Leases Leases 2021 (excluding the three months ended March 31, 2021) $ 116 $ 346 2022 18 463 2023 6 472 2024 — 484 2025 — 390 Thereafter — 30 Total lease payments 140 2,185 Less: future interest expense (7 ) (349 ) Lease liabilities $ 133 $ 1,836 |
Note L - Subsequent Events
Note L - Subsequent Events | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | L. Subsequent Events On April 8, 2021, KP415 KP415 KP415 KP415 $10.0 KP415 March 2, 2021. $10.0 thirty May 7, 2020. KP415 $590.0 KP415 On May 7, 2021, 70:30 KP415 $10.0 30 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of unaudited condensed financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the unaudited condensed financial statements and accompanying notes. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives of property and equipment, the recoverability of long-lived assets, the incremental borrowing rate for leases, and assumptions used for purposes of determining stock-based compensation, income taxes, and the fair value of the derivative and warrant liability, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company commenced recognizing revenue in accordance with the provisions of ASC 606, Revenue from Contracts with Customers 606” January 1, 2018. Arrangements with Multiple-Performance Obligations From time to time, the Company enters into arrangements for research and development, manufacturing and/or commercialization services. Such arrangements may In arrangements involving more than one not The consideration allocated to each distinct performance obligation is recognized as revenue when control of the related goods or services is transferred. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not Licensing Agreements The Company enters into licensing agreements with licensees that fall under the scope of ASC 606. The terms of the Company's licensing agreements typically include one may As part of the accounting for these agreements, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. Generally, the estimation of the stand-alone selling price may Up-front Fees: Milestone Payments: not not not may KP415 In September 2019, “KP415 KP415 KP484, KP879, KP922 KP484, KP415 $10.0 $63.0 KP484; $420.0 KP415 KP415 KP415 In exchange for the exclusive, worldwide license, discussed above, Commave paid the Company a non-refundable upfront payment of $10.0 $63.0 KP484. May 2020, KP415 $5.0 $420.0 KP415 KP415 Commave also agreed to be responsible for and reimburse the Company for all of the development, commercialization and regulatory expenses incurred on the licensed products, subject to certain limitations as set forth in the KP415 The KP415 KP484. KP484; In accordance with the terms of the Company's March 20, 2012 10% KP484 KP879 KP415 The KP415 606, not KP415 606, third two $10.0 KP415 The consideration allocated to the grant of the exclusive, worldwide license was $10.0 KP415 KP415 The consideration allocated to the performance of consulting services, which includes the reimbursement of out-of-pocket third KP415 third third no third third third third 606 third third KP415 March 31, 2021, third Under the KP415 first 1 may may KP415 KP415 first not third 606 not not The Company is entitled to additional payments from Commave conditioned upon the achievement of specified regulatory milestones related to AZSTARYS and KP484 KP415 KP415 not not not For example, in May 2020, KP415 $5.0 two second 2020 $5.0 second 2020. On April 8, 2021, No. 1 KP415 "KP415 KP415 KP415 KP415 $10.0 KP415 March 2, 2021. $10.0 thirty May 7, 2020. KP415 $590.0 KP415 Pursuant to the KP415 first KP922, no first first first Per the KP415 $10.0 two first 2021 $10.0 first 2021. 340 40, Contracts with Customers $1.0 For the three March 31, 2021 2020, KP415 $10.0 $2.1 no March 31, 2021 December 31, 2020. APADAZ License Agreement In October 2018, Pursuant to the APADAZ License Agreement, KVK agreed to pay the Company certain payments and cost reimbursements of an estimated $3.4 $2.0 10 $53.0 30% 50% four The APADAZ License Agreement will terminate on the later of the date that all of the patent rights for APADAZ have expired in the United States or KVK's cessation of commercialization of APADAZ in the United States. KVK may 90 third may 18 may six may 30 not The APADAZ License Agreement also established a joint steering committee, which monitors progress of the commercialization of APADAZ. Consulting Arrangements The Company enters into consulting arrangements with third 606. may third Corium Consulting Agreement In July 2020, KP415 Under the Corium Consulting Agreement, the Company is entitled to receive payments from Corium of up to $15.6 $13.6 March 31, 2022. $2.0 The Corium Consulting Agreement is within the scope of ASC 606, not 606, third $13.6 third not not not The Company determined that the performance of consulting services, including reimbursement of third third 606 March 31, 2021, 45% third For the three March 31, 2021, $1.6 no three March 31, 2020 March 31, 2021, $0.2 December 31, 2020, $0.1 Other Consulting Arrangements For the three March 31, 2021, $0.5 no three March 31, 2020. no March 31, 2021 December 31, 2020. |
Receivable [Policy Text Block] | Accounts and Other Receivables Accounts and other receivables consists of receivables under the KP415 KP415 third March 31, 2021, $0.6 $0.6 $10.0 KP415 December 31, 2020, $2.1 $0.4 no KP415 March 31, 2021 December 31, 2020, no |
New Accounting Pronouncements, Policy [Policy Text Block] | Application of New or Revised Accounting Standards—Adopted From time to time, the Financial Accounting Standards Board (the “FASB”) or other standard-setting bodies issue accounting standards that are adopted by the Company as of the specified effective date. In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2016 13” not not December 15, 2019, 2016 13 not In August 2018, 2018 13, Fair Value Measurement (Topic 820 Disclosure Framework Changes to the Disclosure Requirements for Fair Value Measurement 2018 13” 820, Conceptual Framework for Financial Reporting Chapter 8: August 28, 2018, December 15, 2019, 3 2018 13 not Application of New or Revised Accounting Standards—Not Yet Adopted In August 2020, 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 and Derivatives and Hedging Contracts in Entity s Own Equity (Subtopic 815 40 Accounting for Convertible Instruments and Contracts in an Entity s Own Equity 2020 06” December 15, 2021, no December 15, 2020, 2020 06 |
Note F - Common Stock and War_2
Note F - Common Stock and Warrants (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Authorized Shares of Common Stock Reserved for Future Issuance [Table Text Block] | March 31, 2021 December 31, 2020 Conversion of Deerfield Convertible Note — 81,101 Conversion of January 2020 Note — 34,615 Conversion of December 2019 Notes — 625,747 Outstanding awards under equity incentive plans 354,869 355,785 Outstanding common stock warrants 9,544,693 151,442 Possible future issuances under equity incentive plans 229,317 47,825 Total common shares reserved for future issuance 10,128,879 1,296,515 |
Schedule of Common Stock Outstanding Roll Forward [Table Text Block] | Shares of Common Stock Balance as of December 31, 2020 4,537,321 Common stock issued as a result of the Public Offering 7,139,498 Common stock issued as a result of Series B-2 Preferred Stock conversions 4,842,699 Common stock issued as a result of warrant exercises 11,951,038 Common stock issued as compensation to third-parties 9,600 Balance as of March 31, 2021 28,480,156 |
Note G - Stock-based Compensa_2
Note G - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended March 31, 2021 2020 Research and development $ 296 $ 246 General and administrative 379 363 Severance expense — 420 Total stock-based compensation expense $ 675 $ 1,029 |
Note H - Fair Value of Financ_2
Note H - Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of March 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Deerfield Warrant liability $ 240 $ — $ — $ 240 Embedded Warrant Put Option 52 — — 52 KVK Warrant liability 42 — 42 — Total liabilities $ 334 $ — $ 42 $ 292 Balance as of December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Deerfield Warrant liability $ 230 $ — $ — $ 230 Embedded Warrant Put Option 25 — — 25 Deerfield Note Conversion Feature — — — — KVK Warrant liability 49 — 49 — Total liabilities $ 304 $ — $ 49 $ 255 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three months ended March 31, 2021 2020 Balance as of beginning of period $ 255 $ 96 Adjustment to fair value 37 (58 ) Balance as of end of period $ 292 $ 38 |
Note I - Net Loss Per Share (Ta
Note I - Net Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three months ended March 31, 2021 2020 Conversion of Deerfield Convertible Note — 77,123 Conversion of January 2020 Note — 32,917 Conversion of December 2019 Notes* — 1,246,486 Awards under equity incentive plans 354,869 395,197 Common stock warrants 9,544,693 151,442 Total securities excluded from the calculation of weighted average number of shares of common stock outstanding 9,899,562 1,903,165 * Inclusive of 652,437 shares of Common Stock issuable (i) in exchange of the Deerfield Optional Conversion Feature, or (ii) upon conversion of the Series B-2 Preferred Stock issuable in exchange of the Deerfield Optional Conversion Feature. |
Note K - Leases (Tables)
Note K - Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three months ended March 31, Lease Cost 2021 2020 Finance lease cost: Amortization of right-of-use assets $ 32 $ 31 Interest on lease liabilities 4 8 Total finance lease cost 36 39 Operating lease cost 91 89 Short-term lease cost 50 57 Variable lease cost 13 14 Less: sublease income — (13 ) Total lease costs $ 190 $ 186 |
Schedule of Leases Cash Flow Information [Table Text Block] | Three months ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 4 $ 8 Financing cash flows from finance leases 61 58 Operating cash flows from operating leases 114 109 Operating cash flows from short-term leases 50 57 Operating cash flows from variable lease costs 13 14 Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ — $ — Operating leases — 20 |
Schedule of Leases Balance Sheet Information [Table Text Block] | March 31, December 31, 2021 2020 Finance Leases Property and equipment, at cost $ 1,031 $ 1,031 less: accumulated depreciation and amortization (555 ) (523 ) Property and equipment, net $ 476 $ 508 Other current liabilities $ 119 $ 172 Other long-term liabilities 14 22 Total finance lease liabilities $ 133 $ 194 Operating Leases Operating lease right-of-use assets $ 1,294 $ 1,350 Total operating lease right-of-use assets $ 1,294 $ 1,350 Current portion of operating lease liabilities $ 336 $ 327 Operating lease liabilities, less current portion 1,500 1,587 Total operating lease liabilities $ 1,836 $ 1,914 Weighted Average Remaining Lease Term Finance leases (years) 1 1 Operating leases (years) 5 5 Weighted Average Discount Rate Finance leases 8.8 % 8.5 % Operating leases 7.5 % 7.5 % |
Operating and Finance Lease, Liability, Maturity [Table Text Block] | Finance Operating Year Ending December 31, Leases Leases 2021 (excluding the three months ended March 31, 2021) $ 116 $ 346 2022 18 463 2023 6 472 2024 — 484 2025 — 390 Thereafter — 30 Total lease payments 140 2,185 Less: future interest expense (7 ) (349 ) Lease liabilities $ 133 $ 1,836 |
Note A - Description of Busin_2
Note A - Description of Business and Basis of Presentation (Details Textual) $ / shares in Units, $ in Millions | Feb. 01, 2021shares | Jan. 12, 2021USD ($)$ / sharesshares | Jan. 08, 2021$ / sharesshares | Dec. 23, 2020$ / shares | Feb. 29, 2020USD ($)shares | May 31, 2020USD ($)shares | Mar. 31, 2021$ / shares | Feb. 03, 2021shares | Dec. 31, 2020$ / shares |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||
Lincoln Park [Member] | |||||||||
Sale of Securities, Value, Available to Issue | $ | $ 4 | ||||||||
Purchase Agreement, Term (Month) | 1 year | ||||||||
Purchase Agreement, Additional Shares to Be Issued as Commitment Shares (in shares) | 19,289 | ||||||||
Purchase Agreement, Maximum Shares to be Issued (in shares) | 579,260 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 559,971 | ||||||||
Proceeds from Issuance of Common Stock | $ | $ 2.3 | ||||||||
Roth Capital Partners, LLC [Member] | Pre-funded Warrants [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 926,844 | 926,844 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.0001 | ||||||||
Roth Capital Partners, LLC [Member] | Public Offering Warrants [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 12,078,361 | 7,692,307 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.50 | $ 6.50 | |||||||
Class of Warrant or Right, Offering Price, Per Related Warrant (in dollars per share) | $ / shares | $ 0.0001 | ||||||||
Roth Capital Partners, LLC [Member] | Underwriter Warrants [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 806,932 | 754,035 | 18,702 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 8.125 | ||||||||
Over Allotment Options, Number of Shares for Warrants (in shares) | 1,153,846 | ||||||||
Roth Capital Partners, LLC [Member] | Underwriting Agreement [Member] | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 6,765,463 | ||||||||
Shares and Warrants Issued, Price Per Share (in dollars per share) | $ / shares | $ 6.50 | ||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 6.4999 | ||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 52.4 | ||||||||
Roth Capital Partners, LLC [Member] | Over-Allotment Option [Member] | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 374,035 | ||||||||
Purchase Agreement Optional Period to Shares (Day) | 45 days | ||||||||
Purchase Agreement, Maximum, Additional Shares Available for Purchase During the Optional Period (in shares) | 1,153,846 | ||||||||
Reverse Stock Split [Member] | |||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 16 |
Note B - Summary of Significa_2
Note B - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | May 07, 2021 | Apr. 08, 2021 | Sep. 03, 2019 | Mar. 20, 2012 | Oct. 31, 2018 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Mar. 02, 2021 | Dec. 31, 2020 | Jul. 31, 2020 | May 31, 2020 |
Revenue from Contract with Customer, Including Assessed Tax | $ 12,117 | $ 2,089 | ||||||||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 0 | $ 0 | ||||||||||
License [Member] | ||||||||||||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 10,000 | 0 | ||||||||||
Consulting Services [Member] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 500 | 0 | ||||||||||
Deferred Revenue, Total | 0 | 0 | ||||||||||
GPC Member | License [Member] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 10,000 | 10,000 | 2,100 | |||||||||
Revenue Recognition, Milestone Method, Revenue to be Recognized | 63,000 | |||||||||||
Revenue Recognition, Milestone Method, Additional Revenue to be Recognized | 420,000 | |||||||||||
Regulatory Milestone Revenue to Be Earned Following FDA Acceptance | $ 5,000 | $ 10,000 | $ 5,000 | |||||||||
Contract with Customer, Liability, Revenue Recognized | 10,000 | $ 5,000 | ||||||||||
Deferred Revenue, Total | 0 | 0 | ||||||||||
GPC Member | License [Member] | Subsequent Event [Member] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 10,000 | $ 10,000 | ||||||||||
Revenue Recognition, Milestone Method, Revenue to be Recognized | 10,000 | |||||||||||
Revenue Recognition, Milestone Method, Additional Revenue to be Recognized | $ 590,000 | |||||||||||
Aquestive Therapeutics [Member] | License [Member] | ||||||||||||
Royalty Revenue, Percent | 10.00% | |||||||||||
Royalty Expense | 1,000 | |||||||||||
KVK [Member] | License [Member] | ||||||||||||
License Agreement, Estimated Pre-launch Payments and Reimbursements | $ 3,400 | |||||||||||
License Agreement, Pre-launch Payment Reimbursement Within 10 Days of Initial Adoption Milestone | 2,000 | |||||||||||
License Agreement, Additional Payments Upon Achievement of Sales Milestone | $ 53,000 | |||||||||||
KVK [Member] | License [Member] | Minimum [Member] | ||||||||||||
License Agreement, Percentage of Net Profits | 30.00% | |||||||||||
KVK [Member] | License [Member] | Maximum [Member] | ||||||||||||
License Agreement, Percentage of Net Profits | 50.00% | |||||||||||
Corium, Inc [Member] | ||||||||||||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 600 | 2,100 | ||||||||||
Corium, Inc [Member] | Consulting Services [Member] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,600 | $ 0 | ||||||||||
Deferred Revenue, Total | $ 200 | 100 | ||||||||||
Consulting Agreement, Maximum Amount to be Received | $ 15,600 | |||||||||||
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 13,600 | |||||||||||
Consulting Agreement, Conditional Milestone Achievement to be Received | $ 2,000 | |||||||||||
Percentage of Consulting Services and Out-of-pocket Third-party Research and Development Costs Recognized | 45.00% | |||||||||||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | $ 600 | $ 400 |
Note C - Debt Obligations (Deta
Note C - Debt Obligations (Details Textual) - USD ($) | Feb. 08, 2021 | Jan. 12, 2021 | Jan. 01, 2021 | Apr. 23, 2020 | Jan. 13, 2020 | Dec. 18, 2019 | Feb. 09, 2016 | Jun. 02, 2014 | Jun. 30, 2018 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Mar. 31, 2021 | Jan. 26, 2021 | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 02, 2019 | Jun. 30, 2016 |
Convertible Notes Payable, Total | $ 0 | $ 68,200,000 | $ 0 | |||||||||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 199,000 | $ 52,000 | ||||||||||||||||
Debt Instrument, Convertible, Minimum Conversion Price (in dollars per share) | $ 9.328 | |||||||||||||||||
Loans Payable, Current, Total | 683,000 | 390,000 | 683,000 | |||||||||||||||
Loans Payable, Noncurrent, Total | 98,000 | $ 391,000 | 98,000 | |||||||||||||||
Conversion from Deerfield Convertible Note to Common Stock [Member] | ||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 3,333,333 | |||||||||||||||||
Debt Conversion, Accrued Interest | $ 168,288 | |||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 37,410 | |||||||||||||||||
Conversion of December 2019 Notes into Common Stock [Member] | ||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 17,100,000 | |||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 1,777,437 | |||||||||||||||||
December 2020 Exchange Agreement [Member] | ||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 31,500,000 | |||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 31,476.98412 | |||||||||||||||||
Debt Conversion, Converted Instrument, Warrants or Options Issued (in shares) | 3,632,019 | |||||||||||||||||
Deerfield Convertible Notes [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | 93.60 | |||||||||||||||||
2021 Notes [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 17.11 | $ 273.76 | ||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 1,000 | $ 1,000 | ||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 58.4454 | 3.6528 | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | |||||||||||||||||
Debt Instrument, Face Amount | $ 86,300,000 | |||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | 82,800,000 | |||||||||||||||||
Repayments of Long-term Debt, Total | 18,600,000 | |||||||||||||||||
Debt Instrument, Sinking Fund Payment | $ 0 | |||||||||||||||||
Debt Instrument Repurchase Price Equal to Percentage of Principal Amount | 100.00% | |||||||||||||||||
Debt Instrument, Cancellation of Debt, Amount | $ 3,037,354 | $ 71,418,011 | ||||||||||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 37,354 | $ 745,011 | ||||||||||||||||
Debt Instrument, Percentage of Accrued Interest Paid | 50.00% | |||||||||||||||||
The 2019 Notes [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 5.85 | $ 17.11 | $ 93.60 | 273.76 | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | |||||||||||||||||
Debt Instrument, Face Amount | $ 71,418,011 | |||||||||||||||||
Debt Instrument, Percentage of Accrued Interest Paid | 50.00% | |||||||||||||||||
Debt Instrument, Convertible, Minimum Conversion Price (in dollars per share) | $ 0.583 | $ 0.38 | ||||||||||||||||
Debt Instrument, Convertible, Conversion Restriction Percentage of Common Stock | 4.985% | |||||||||||||||||
Beneficial Ownership, Cap Limit, Percentage | 19.985% | |||||||||||||||||
Debt Instrument, Convertible, Floor Price (in dollars per share) | $ 9.328 | |||||||||||||||||
January 2020 Note [Member] | ||||||||||||||||||
Debt Instrument, Face Amount | $ 3,037,354 | |||||||||||||||||
The December 2020 Exchange Agreement [Member] | ||||||||||||||||||
Repayments of Debt | $ 30,300,000 | |||||||||||||||||
The December 2019 and January 2020 Notes [Member] | ||||||||||||||||||
Long-term Debt, Gross | $ 60,800,000 | |||||||||||||||||
Deerfield Facility Agreement [Member] | ||||||||||||||||||
Long-term Debt, Gross | 7,500,000 | |||||||||||||||||
The Facility Notes [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | |||||||||||||||||
Repayments of Long-term Debt, Total | $ 30,300,000 | |||||||||||||||||
Long-term Debt, Total | $ 7,600,000 | $ 69,400,000 | ||||||||||||||||
Paycheck Protection Program CARES Act [Member] | ||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 800,000 | |||||||||||||||||
Loans Payable, Current, Total | 700,000 | $ 700,000 | ||||||||||||||||
Loans Payable, Noncurrent, Total | 100,000 | 100,000 | ||||||||||||||||
Deerfield Facility Agreement [Member] | ||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 60,000,000 | |||||||||||||||||
Line of Credit Facility, Interest Rate at Period End | 9.75% | 6.75% | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | 9.75% | ||||||||||||||||
Convertible Notes Payable, Current | $ 6,980,824 | $ 6,980,824 | ||||||||||||||||
Debt Covenant, Debt Financing Restriction | $ 750,000 | |||||||||||||||||
Repayments of Long-term Debt, Total | $ 8,000,000 | |||||||||||||||||
Debt Instrument, Convertible, Minimum Conversion Price (in dollars per share) | $ 0.60 | |||||||||||||||||
Conversion of Stock, Maximum Shares Issued (in shares) | 28,439,015 | |||||||||||||||||
Debt Instrument, Convertible, Optional Conversion Feature, Exchange Price (in dollars per share) | $ 9.60 | |||||||||||||||||
Debt Instrument, Convertible Optional Conversion Feature Shares Issuable Upon Exchange (in shares) | 1,777,437 | |||||||||||||||||
Deerfield Facility Agreement [Member] | Deerfield Warrant [Member] | ||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.78 | |||||||||||||||||
Deerfield Facility Agreement [Member] | Deerfield Warrant [Member] | IPO [Member] | ||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,923,077 | |||||||||||||||||
Deerfield Facility Agreement [Member] | Series D Redeemable Convertible Preferred Stock [Member] | ||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 14,423,076 | |||||||||||||||||
Deerfield Facility Agreement [Member] | Term Notes [Member] | ||||||||||||||||||
Proceeds from Secured Notes Payable | $ 15,000,000 | |||||||||||||||||
Deerfield Facility Agreement [Member] | Deerfield Convertible Notes [Member] | ||||||||||||||||||
Proceeds from Secured Notes Payable | $ 10,000,000 | |||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 5.85 | $ 93.60 | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 120,192 | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 5.85 | $ 93.60 | $ 46.25 |
Note D - Commitments and Cont_2
Note D - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loss Contingency Accrual, Ending Balance | $ 0 | $ 0 |
Note E - Preferred Stock and _2
Note E - Preferred Stock and Warrants (Details Textual) - USD ($) | Jan. 12, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | |
Conversion of Series B-2 Preferred Stock into Common Stock [Member] | |||
Conversion of Stock, Shares Issued (in shares) | 4,842,699 | ||
The Facility Notes [Member] | |||
Repayments of Long-term Debt, Total | $ 30,300,000 | ||
December 2020 Exchange Agreement [Member] | |||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 31,476.98412 | ||
Debt Conversion, Converted Instrument, Warrants or Options Issued (in shares) | 3,632,019 | ||
Debt Conversion, Original Debt, Amount | $ 31,500,000 | ||
Series A Preferred Stock [Member] | |||
Preferred Stock, Shares Authorized (in shares) | 9,578 | 9,578 | |
Preferred Stock, Shares Issued, Total (in shares) | 9,577 | 9,577 | |
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | |
Series B-1 Convertible Preferred Stock [Member] | |||
Preferred Stock, Shares Authorized (in shares) | 1,576 | 1,576 | |
Preferred Stock, Shares Issued, Total (in shares) | 1,576 | 1,576 | |
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | |
Series B-2 Convertible Preferred Stock [Member] | |||
Preferred Stock, Shares Authorized (in shares) | 31,480 | 27,000 | |
Preferred Stock, Shares Issued, Total (in shares) | 31,476.98412 | 0 | |
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | |
Preferred Stock Convertible Shares Issuable (in shares) | 4,842,690 | ||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 6.4999 |
Note F - Common Stock and War_3
Note F - Common Stock and Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jan. 26, 2021 | Jan. 12, 2021 | Oct. 25, 2018 | Jun. 02, 2014 | Mar. 31, 2021 | Mar. 31, 2020 | Feb. 03, 2021 | Jan. 08, 2021 | Dec. 31, 2020 |
Common Stock, Shares Authorized (in shares) | 250,000,000 | 250,000,000 | |||||||
Common Stock, Shares, Issued, Total (in shares) | 28,480,156 | 4,537,321 | |||||||
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 11,951,038 | ||||||||
Proceeds from Warrant Exercises | $ 25,593 | ||||||||
Preferred Stock Dividends and Other Adjustments, Total | 37,444 | ||||||||
Other Noncurrent Assets [Member] | |||||||||
Contract with Customer, Asset, after Allowance for Credit Loss, Total | $ 400 | $ 400 | |||||||
Deerfield Warrant [Member] | |||||||||
Class of Warrant or Right Issued (in shares) | 14,423,076 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 46.25 | $ 93.60 | |||||||
Deerfield Warrant [Member] | Common Stock [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,923,077 | 120,192 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 46.25 | $ 5.85 | $ 93.60 | ||||||
Warrant Issued to KVK [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 500,000 | 31,250 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.30 | $ 36.80 | |||||||
Class of Warrant or Right, Additional Shares Exercisable for Each Milestones (in shares) | 125,000 | ||||||||
Pre-funded Warrants [Member] | Roth Capital Partners, LLC [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 926,844 | 926,844 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | ||||||||
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 926,841 | ||||||||
Proceeds from Warrant Exercises | $ 72,000 | ||||||||
Public Offering Warrants [Member] | Roth Capital Partners, LLC [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 12,078,361 | 7,692,307 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 6.50 | $ 6.50 | |||||||
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 2,726,918 | ||||||||
Proceeds from Warrant Exercises | $ 14,900 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||
Maximum Percent of Common Stock Ownership Allowed Per Holder Upon Warrant Exercise | 4.99% | ||||||||
Class of Warrants or Right, Exercised During Period (in shares) | 3,157,895 | ||||||||
Underwriter Warrants [Member] | Roth Capital Partners, LLC [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 806,932 | 18,702 | 754,035 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 8.125 | ||||||||
Class of Warrants or Right, Exercised During Period (in shares) | 0 | ||||||||
Over Allotment Options, Percentage of Common Stock Outstanding for Warrants | 5.00% | ||||||||
Existing Warrants [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 6,620,358 | ||||||||
Proceeds from Warrant Exercises | $ 44,000 | ||||||||
Placement Agent Fee, Percentage | 6.00% | ||||||||
Inducement Warrants [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 7,944,430 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 6.36 | ||||||||
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 1,676,921 | ||||||||
Proceeds from Warrant Exercises | $ 10,700 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||
Maximum Percent of Common Stock Ownership Allowed Per Holder Upon Warrant Exercise | 4.99% | ||||||||
Class of Warrants or Right, Exercised During Period (in shares) | 1,676,921 | ||||||||
Warrants Issued Upon Exchange, Percentage of Shares Issued Upon Exercise | 120.00% | ||||||||
Class of Warrant, Purchase Price Per Warrant (in dollars per share) | $ 0.125 | ||||||||
Maximum Percent of Common Stock Ownership Allowed Per Holder After Warrant Exercise Upon Holders Selection | 9.99% | ||||||||
Preferred Stock Dividends and Other Adjustments, Total | $ 37,400 |
Note F - Common Stock and War_4
Note F - Common Stock and Warrants - Reserved Authorized Shares of Common Stock for Future Issuance (Details) - shares | Mar. 31, 2021 | Dec. 31, 2020 |
Common shares reserved for future issuance (in shares) | 10,128,879 | 1,296,515 |
Warrant [Member] | ||
Common shares reserved for future issuance (in shares) | 9,544,693 | 151,442 |
Share-based Payment Arrangement [Member] | ||
Common shares reserved for future issuance (in shares) | 354,869 | 355,785 |
Possible Future Issuances Under Equity Incentive Plans [Member] | ||
Common shares reserved for future issuance (in shares) | 229,317 | 47,825 |
January 2020 Note [Member] | ||
Common shares reserved for future issuance (in shares) | 34,615 | |
2021 Notes [Member] | ||
Common shares reserved for future issuance (in shares) | 625,747 | |
Convertible Notes Payable [Member] | ||
Common shares reserved for future issuance (in shares) | 81,101 |
Note F - Common Stock and War_5
Note F - Common Stock and Warrants - Common Stock Activity (Details) | 3 Months Ended |
Mar. 31, 2021shares | |
Balance (in shares) | 4,537,321 |
Common stock issued as a result of warrant exercises (in shares) | 11,951,038 |
Common stock issued as compensation to third-parties (in shares) | 9,600 |
Balance (in shares) | 28,480,156 |
Conversion of Series B-2 Preferred Stock into Common Stock [Member] | |
Common stock issued as a result of Series B-2 Preferred Stock conversions (in shares) | 4,842,699 |
Underwritten Public Offering [Member] | |
Common stock issued as a result of the Public Offering (in shares) | 7,139,498 |
Note G - Stock-based Compensa_3
Note G - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2021 | Mar. 31, 2021 | Mar. 31, 2020 |
Share-based Payment Arrangement, Expense | $ 675 | $ 1,029 | |
Performance Shares [Member] | |||
Share-based Payment Arrangement, Expense | $ 400 | $ 0 | |
2014 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 589,659 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Reserved for Issuance, Incremental Percentage of Capital Stock Outstanding | 4.00% | ||
Increase in Common Stock Reserved for Issuance (in shares) | 181,492 | ||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares) | 0 | 3,806 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 |
Note G - Stock-based Compensa_4
Note G - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Stock based compensation expense | $ 675 | $ 1,029 |
Research and Development Expense [Member] | ||
Stock based compensation expense | 296 | 246 |
General and Administrative Expense [Member] | ||
Stock based compensation expense | 379 | 363 |
Severance Expense [Member] | ||
Stock based compensation expense | $ 420 |
Note H - Fair Value of Financ_3
Note H - Fair Value of Financial Instruments (Details Textual) | 3 Months Ended | |
Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Deerfield Warrant Liability [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 240,000 | $ 230,000 |
Liabilities, Fair Value Disclosure, Increase from Ten Percent Increase in Enterprise Value | 61,000 | |
Liabilities, Fair Value Disclosure, Estimated Amount of Weighted-average Probability of Liquidity Event | 35,300,000 | |
Liabilities, Fair Value Disclosure, Estimated Amount of Weighted-average Probability of Fundamental Change | $ 1,100,000,000 | |
Deerfield Warrant Liability [Member] | Weighted Average Probability of Liquidity Event [Member] | ||
Derivative Liability, Measurement Input | 0.14 | |
Deerfield Warrant Liability [Member] | Weighted Average Probability of Fundamental Change [Member] | ||
Derivative Liability, Measurement Input | 0.3 | |
Embedded Put Option [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 52,000 | 25,000 |
Liabilities, Fair Value Disclosure, Increase from Ten Percent Increase in Enterprise Value | 1,000 | |
Fair Value, Inputs, Level 3 [Member] | The 2019 Notes [Member] | ||
Long-term Debt, Fair Value | 0 | 56,200,000 |
Fair Value, Inputs, Level 3 [Member] | January 2020 Note [Member] | ||
Long-term Debt, Fair Value | 0 | 3,100,000 |
Fair Value, Inputs, Level 3 [Member] | Deerfield Facility Agreement [Member] | Deerfield Convertible Notes [Member] | ||
Long-term Debt, Fair Value | $ 0 | $ 7,300,000 |
Note H - Fair Value of Financ_4
Note H - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Recurring [Member] | ||
Financial liabilities measured at fair value on recurring basis | $ 304,000 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial liabilities measured at fair value on recurring basis | 49,000 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial liabilities measured at fair value on recurring basis | 255,000 | |
Deerfield Warrant Liability [Member] | ||
Financial liabilities measured at fair value on recurring basis | $ 240,000 | 230,000 |
Deerfield Warrant Liability [Member] | Fair Value, Recurring [Member] | ||
Financial liabilities measured at fair value on recurring basis | 240,000 | 230,000 |
Deerfield Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Deerfield Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Deerfield Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial liabilities measured at fair value on recurring basis | 240,000 | 230,000 |
Embedded Put Option [Member] | ||
Financial liabilities measured at fair value on recurring basis | 52,000 | 25,000 |
Embedded Put Option [Member] | Fair Value, Recurring [Member] | ||
Financial liabilities measured at fair value on recurring basis | 52,000 | 25,000 |
Embedded Put Option [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Embedded Put Option [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Embedded Put Option [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial liabilities measured at fair value on recurring basis | 52,000 | 25,000 |
KVK Warrant Liability [Member] | Fair Value, Recurring [Member] | ||
Financial liabilities measured at fair value on recurring basis | 42,000 | 49,000 |
KVK Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
KVK Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial liabilities measured at fair value on recurring basis | 42,000 | 49,000 |
KVK Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Embedded Deerfield Note Put Option [Member] | Fair Value, Recurring [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Embedded Deerfield Note Put Option [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Embedded Deerfield Note Put Option [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Embedded Deerfield Note Put Option [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Optional Exchange Principal Amount Conversion Feature [Member[ | Fair Value, Recurring [Member] | ||
Financial liabilities measured at fair value on recurring basis | 334,000 | |
Optional Exchange Principal Amount Conversion Feature [Member[ | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial liabilities measured at fair value on recurring basis | ||
Optional Exchange Principal Amount Conversion Feature [Member[ | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial liabilities measured at fair value on recurring basis | 42,000 | |
Optional Exchange Principal Amount Conversion Feature [Member[ | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial liabilities measured at fair value on recurring basis | $ 292,000 |
Note H - Fair Value of Financ_5
Note H - Fair Value of Financial Instruments - Reconciliation of Beginning and Ending Balances for Derivative and Warrant Liability Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Balance as of beginning of period | $ 255 | $ 96 |
Adjustment to fair value | 37 | (58) |
Balance as of end of period | $ 292 | $ 38 |
Note I - Net Loss Per Share - A
Note I - Net Loss Per Share - Anti-dilutive Securities (Details) - shares | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Antidilutive securities (in shares) | 9,899,562 | 1,903,165 | |
Convertible Debt Securities [Member] | |||
Antidilutive securities (in shares) | 77,123 | ||
January 2020 Note [Member] | |||
Antidilutive securities (in shares) | 32,917 | ||
The 2019 Notes [Member] | |||
Antidilutive securities (in shares) | [1] | 1,246,486 | |
Share-based Payment Arrangement [Member] | |||
Antidilutive securities (in shares) | 354,869 | 395,197 | |
Warrants to Purchase Common Stock [Member] | |||
Antidilutive securities (in shares) | 9,544,693 | 151,442 | |
[1] | Inclusive of 652,437 shares of Common Stock issuable (i) in exchange of the Deerfield Optional Conversion Feature, or (ii) upon conversion of the Series B-2 Preferred Stock issuable in exchange of the Deerfield Optional Conversion Feature. |
Note J - Severance Expense (Det
Note J - Severance Expense (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Share-based Payment Arrangement, Expense | $ 675 | $ 1,029 | |
Severance Expense [Member] | |||
Share-based Payment Arrangement, Expense | $ 420 | ||
Employee Severance [Member] | Accounts Payable and Accrued Liabilities [Member] | |||
Accrued Severance Expense | 0 | $ 100 | |
Employee Severance [Member] | Severance Expense [Member] | |||
Severance Charges | 400 | ||
Share-based Payment Arrangement, Expense | $ 400 |
Note K - Leases (Details Textua
Note K - Leases (Details Textual) | 3 Months Ended |
Mar. 31, 2021 | |
Lessee, Lease, Option to Extend, Maximum Term (Year) | 5 years |
Lessee, Lease, Option to Terminate, Term (Year) | 1 year |
Minimum [Member] | |
Lessee, Lease, Remaining Term of Contract (Year) | 1 year |
Maximum [Member] | |
Lessee, Lease, Remaining Term of Contract (Year) | 5 years |
Note K - Leases - Lease Cost (D
Note K - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Amortization of right-of-use assets | $ 32 | $ 31 |
Interest on lease liabilities | 4 | 8 |
Total finance lease cost | 36 | 39 |
Operating lease cost | 91 | 89 |
Short-term lease cost | 50 | 57 |
Variable lease cost | 13 | 14 |
Less: sublease income | (13) | |
Total lease costs | $ 190 | $ 186 |
Note K - Leases - Supplement Ca
Note K - Leases - Supplement Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating cash flows from finance leases | $ 4 | $ 8 |
Financing cash flows from finance leases | 61 | 58 |
Operating cash flows from operating leases | 114 | 109 |
Operating cash flows from short-term leases | 50 | 57 |
Operating cash flows from variable lease costs | 13 | 14 |
Finance leases | ||
Operating leases | $ 20 |
Note K - Leases - Supplement Ba
Note K - Leases - Supplement Balance Sheet Information Related to Lease (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Lease liabilities, finance leases | $ 133 | $ 194 |
Operating lease right-of-use assets | 1,294 | 1,350 |
Total operating lease right-of-use assets | 1,294 | 1,350 |
Current portion of operating lease liabilities | 336 | 327 |
Operating lease liabilities, less current portion | 1,500 | 1,587 |
Total operating lease liabilities | $ 1,836 | $ 1,914 |
Finance leases (years) (Year) | 1 year | 1 year |
Operating leases (years) (Year) | 5 years | 5 years |
Finance leases | 8.80% | 8.50% |
Operating leases | 7.50% | 7.50% |
Property and Equipment, At Cost [Member] | ||
Property and equipment, at cost | $ 1,031 | $ 1,031 |
Accumulated Depreciation and Amortization [Member] | ||
less: accumulated depreciation and amortization | (555) | (523) |
Property and Equipment, Net [Member] | ||
Property and equipment, net | 476 | 508 |
Other Current Liabilities [Member] | ||
Other current liabilities | 119 | 172 |
Other Noncurrent Liabilities [Member] | ||
Other long-term liabilities | 14 | 22 |
Operating Lease Right-of-Use Assets [Member] | ||
Operating lease right-of-use assets | 1,294 | 1,350 |
Total operating lease right-of-use assets | 1,294 | 1,350 |
Current Portion of Operating Lease Liabilities [Member] | ||
Current portion of operating lease liabilities | 336 | 327 |
Operating Lease Liabilities, Less Current Portion [Member] | ||
Operating lease liabilities, less current portion | $ 1,500 | $ 1,587 |
Note K - Leases - Maturities of
Note K - Leases - Maturities of lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
2021 (excluding the three months ended March 31, 2021), finance leases | $ 116 | |
2021 (excluding the three months ended March 31, 2021), operating leases | 346 | |
2022, finance leases | 18 | |
2022, operating leases | 463 | |
2023, finance leases | 6 | |
2023, operating leases | 472 | |
2024, finance leases | ||
2024, operating leases | 484 | |
2025, finance leases | ||
2025, operating leases | 390 | |
Thereafter, finance leases | ||
Thereafter, operating leases | 30 | |
Total lease payments, finance leases | 140 | |
Total lease payments, operating leases | 2,185 | |
Less: future interest expense, finance leases | (7) | |
Less: future interest expense, operating leases | (349) | |
Lease liabilities, finance leases | 133 | $ 194 |
Lease liabilities, operating leases | $ 1,836 | $ 1,914 |
Note L - Subsequent Events (Det
Note L - Subsequent Events (Details Textual) - USD ($) $ in Thousands | May 07, 2021 | Apr. 08, 2021 | Sep. 03, 2019 | Mar. 31, 2021 | Mar. 31, 2020 |
Revenue from Contract with Customer, Including Assessed Tax | $ 12,117 | $ 2,089 | |||
License [Member] | GPC Member | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 10,000 | $ 10,000 | $ 2,100 | ||
Revenue Recognition, Milestone Method, Revenue to be Recognized | 63,000 | ||||
Revenue Recognition, Milestone Method, Additional Revenue to be Recognized | $ 420,000 | ||||
License [Member] | GPC Member | Subsequent Event [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 10,000 | $ 10,000 | |||
Revenue Recognition, Milestone Method, Revenue to be Recognized | 10,000 | ||||
Revenue Recognition, Milestone Method, Additional Revenue to be Recognized | $ 590,000 |