Atossa Therapeutics (ATOS) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 11, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	ATOSSA GENETICS INC
Entity Central Index Key	1,488,039
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	ATOS
Entity Common Stock, Shares Outstanding		3,787,967

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 4,388,177	$ 3,715,895
Restricted cash	55,000	275,000
Prepaid expense	120,751	193,293
Other current assets	0	110,663
Total current assets	4,563,928	4,294,851
Furniture and equipment, net	84,537	171,568
Intangible assets, net	1,401,899	1,700,565
Other assets	227,877	76,337
Total assets	6,278,241	6,243,321
Current liabilities
Accounts payable	197,354	814,448
Accrued expenses	12,480	463,676
Payroll liabilities	635,047	1,159,335
Other current liabilities	18,886	64,128
Total current liabilities	863,767	2,501,587
Commitments and contingencies (note 13)
Stockholders’ equity
Preferred stock - $.001 par value; 10,000,000 shares authorized, 0 shares issued and outstanding	0	0
Common stock - $.015 par value; 75,000,000 shares authorized, 3,787,967 and 2,177,151 shares issued and outstanding	56,820	32,657
Additional paid-in capital	60,137,752	54,643,940
Accumulated deficit	(54,780,098)	(50,934,863)
Total stockholders’ equity	5,414,474	3,741,734
Total liabilities and stockholders’ equity	$ 6,278,241	$ 6,243,321

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.015	$ 0.015
Common stock, authorized	75,000,000	75,000,000
Common stock, shares issued	3,787,967	2,177,151
Common stock, shares outstanding	3,787,967	2,177,151

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net revenue	$ 0	$ 0	$ 0	$ 0
Operating expenses:
Selling	0	498,609	0	1,187,777
Research and development	85,000	948,961	403,963	1,888,236
General and administrative	1,473,435	2,395,089	5,040,939	7,208,508
Total operating expenses	1,558,435	3,842,659	5,444,902	10,284,521
Operating loss	(1,558,435)	(3,842,659)	(5,444,902)	(10,284,521)
Other income, net	1,763,124	69,350	1,599,667	116,108
Income (Loss) before income taxes	204,689	(3,773,309)	(3,845,235)	(10,168,413)
Income taxes	0	0	0	0
Income (Loss) from continuing operations	204,689	(3,773,309)	(3,845,235)	(10,168,413)
Loss from discontinued operations	0	(544,802)	0	(630,314)
Net income (loss)	$ 204,689	$ (4,318,111)	$ (3,845,235)	$ (10,798,727)
Income (Loss) per common share from continuing operations - basic and diluted (in dollars per share)	$ 0.07	$ (2.04)	$ (1.72)	$ (5.91)
Loss per common share from discontinued operations - basic and diluted (in dollars per share)	$ 0	$ (0.30)	$ 0	$ (0.37)
Weighted average shares outstanding, basic & diluted	2,799,082	1,845,747	2,240,869	1,720,353

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2016 - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2015	$ 3,741,734	$ 32,657	$ 54,643,940	$ (50,934,863)
Balance (in shares) at Dec. 31, 2015		2,177,151
Issuance of common shares and warrants	4,695,869	$ 23,417	4,672,452	0
Issuance of common shares and warrants (in shares)		1,561,080
Issuance of common shares as commitment fees	198,523	$ 746	197,777	0
Issuance of common shares as commitment fees (in Shares)		49,736
Amortization of commitment shares	(26,470)		(26,470)
Compensation cost for stock options granted to executives and employees	650,053	$ 0	650,053	0
Net loss	(3,845,235)	0	0	(3,845,235)
Balance at Sep. 30, 2016	$ 5,414,474	$ 56,820	$ 60,137,752	$ (54,780,098)
Balance (in shares) at Sep. 30, 2016		3,787,967

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical)	9 Months Ended
	Sep. 30, 2016USD ($)
Payments of Stock Issuance Costs	$ 356,214

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,845,235)	$ (10,798,727)
Net loss from discontinued operations	0	630,314
Compensation cost for stock options granted	650,053	633,962
Loss (gain) on disposal of intangible asset	163,333	(74,800)
Depreciation and amortization	227,387	168,264
Changes in operating assets and liabilities:
Change in restricted cash	220,000	(275,000)
Inventory	0	(78,265)
Prepaid expenses	72,542	72,723
Other assets	131,176	(4,456)
Accounts payable	(617,094)	408,081
Payroll liabilities	(524,288)	62,772
Deferred rent	0	11,298
Accrued expenses	(451,196)	(1,000,662)
Other current liabilities	(45,242)	(27,720)
Net cash used in continuing operating activities	(4,018,564)	(10,272,216)
Net cash provided by discontinued operating activities	0	272,344
Net cash used in operating activities	(4,018,564)	(9,999,872)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of furniture and equipment	(5,023)	(51,395)
Purchase of intangible assets	0	(15,553)
Net cash used in continuing investing activities	(5,023)	(66,948)
Net cash used in discontinued investing activities	0	(43,801)
Net cash used in investing activities	(5,023)	(110,749)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from issuance of common stock and warrants, net of issuance costs of $356,214	4,695,869	9,498,557
Payments on capital lease obligations	0	(49,215)
Net cash provided by financing activities	4,695,869	9,449,342
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	672,282	(661,279)
CASH AND CASH EQUIVALENTS, BEGINNING BALANCE	3,715,895	8,500,718
CASH AND CASH EQUIVALENTS, ENDING BALANCE	4,388,177	7,839,439
SUPPLEMENTAL DISCLOSURES:
Interest paid	1,304	3,311
NONCASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued as commitment fee under stock purchase agreement	198,523	0
Amortization of commitment shares	$ 26,470	$ 392,711

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	9 Months Ended
	Sep. 30, 2016USD ($)
Payments of Stock Issuance Costs	$ 356,214

NATURE OF OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	NOTE 1: NATURE OF OPERATIONS Atossa Genetics Inc. (the “Company”) was incorporated on April 30, 2009 in the State of Delaware. The Company was formed to develop and market medical devices, laboratory tests and therapeutics to address breast health conditions. The Company’s fiscal year ends on December 31. In December 2011, the Company established the National Reference Laboratory for Breast Health, Inc., or NRLBH, as a wholly-owned subsidiary. NRLBH was the Company’s CLIA-certified laboratory which performed the Company’s nipple aspirate fluid, or NAF, cytology test on NAF specimens including those collected with the Company’s Mammary Aspiration Specimen Cytology Test (MASCT) System. The current version of the MASCT System is called the ForeCYTE Breast Aspirator. The NRLBH provides other test services, including pharmacogenomics tests. On December 16, 2015, the Company sold approximately 81 19 50,000 6 10,000,000 4,000,000 As a result of the sale of the laboratory business, the Company is now focusing on development of its pharmaceutical programs.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Sep. 30, 2016
Substantial Doubt About Going Concern [Abstract]
Going Concern Disclosure [Text Block]	NOTE 2: GOING CONCERN The Company’s consolidated financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred net losses and negative operating cash flows since inception. For the nine months ended September 30, 2016, the Company recorded a net loss of approximately $ 3.8 4.0 4.4 Management’s plan to continue as a going concern is as follows. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans to obtain such resources for the Company include obtaining capital from the sale of its equity securities and short-term borrowings from banks, stockholders or other related party(ies), if needed. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually to secure other sources of financing and attain profitable operations.

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 3: SUMMARY OF ACCOUNTING POLICIES The accompanying consolidated financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) and in accordance with U.S. generally accepted accounting principles (“GAAP”). The accompanying consolidated financial statements include the financial statements of Atossa Genetics Inc. and its formerly wholly-owned subsidiary, NRLBH. The Company sold a majority of its interest in the NRLBH in December 2015 and all of its activities are reported as discontinued operations in the accompanying consolidated financial statements. All significant intercompany account balances and transactions have been eliminated in consolidation. Certain amounts from prior years have been reclassified to conform with the 2016 presentation. On August 26, 2016, the Company completed a 1-for-15 reverse stock split of the shares of the Company’s common stock (the “Reverse Stock Split”). As a result of the Reverse Stock Split, every 15 shares of issued and outstanding common stock were combined into one issued and outstanding share of Common Stock, and the par value per share was changed to $.015 per share. No fractional shares were issued because of the Reverse Stock Split and any fractional shares that would otherwise have resulted from the Reverse Stock Split were paid in cash. As a result of the Reverse Stock Split, as of November 11, 2016, there are 3,787,967 . The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers: Topic 606 In August 2014, FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In February 2016, FASB issued ASU No. 2016-02, Lease Accounting Topic 842. In April 2016, the FASB issued ASU No. 2016-09, Stock Compensation Topic 718: Improvements to Employee Share-based Payment Accounting.

PREPAID EXPENSES

PREPAID EXPENSES	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses [Text Block]	NOTE 4: PREPAID EXPENSES September 30, December 31, Prepaid insurance 38,538 104,954 Retainer and security deposits 39,218 39,218 Other 42,995 49,121 Total prepaid expenses $ 120,751 $ 193,293

FURNITURE AND EQUIPMENT

FURNITURE AND EQUIPMENT	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	NOTE 5: FURNITURE AND EQUIPMENT September 30, December 31, Machinery and equipment $ 206,336 $ 206,337 Leasehold improvements 84,539 79,518 Total furniture and equipment 290,875 285,855 Less: Accumulated depreciation (206,338) (114,287) Total furniture and equipment, net $ 84,537 $ 171,568 Depreciation expense for the three months ended September 30, 2016 and 2015 was $ 29,698 32,620 92,054 97,059

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 6: INTANGIBLE ASSETS September 30, December 31, 2016 2015 Patents $ 1,630,000 $ 1,630,000 Capitalized license costs - 200,000 Software 113,540 113,540 Intangible assets 1,743,540 1,943,540 Less: Accumulated amortization (341,641) (242,975) Total intangible assets, net $ 1,401,899 $ 1,700,565 Intangible assets amounted to $ 1,401,899 1,700,565 3 7,857 11,261 23,572 34,090 Patents amounted to $ 1,630,000 7 12 37,253 111,761 Capitalized license costs consist of fees paid to A5 Genetics KFT, Corporation, pursuant to which the Company received the world-wide (other than the European Union) exclusive license to use the software in the NextCYTE test. As the Company shifted its focus to developing pharmaceutical products and discontinued NextCYTE test development, the A5 agreement was terminated in February 2016 and the entire net assets of $ 163,333 36,666 For the Year Ending December 31, Amounts 2016 (includes the remainder of the year) $ 42,489 2017 169,576 2018 149,623 2019 149,015 2020 149,015 Thereafter 742,181 $ 1,401,899

PAYROLL LIABILITIES

PAYROLL LIABILITIES	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 7: PAYROLL LIABILITIES: September 30, December 31, Accrued bonus payable $ 438,098 $ 555,345 Accrued payroll liabilities 96,248 510,179 Accrued vacation 100,701 93,811 Total payroll liabilities $ 635,047 $ 1,159,335

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	NOTE 8: DISCONTINUED OPERATIONS On December 16, 2015, the Company entered into a Stock Purchase Agreement (the “Purchase Agreement”) with the NRLBH and NRL Investment Group, LLC (the “NRL Group”) pursuant to which the Company sold to the NRL Group all of its shares of common stock in the NRLBH as of that date. Under the terms of the Purchase Agreement, the Company retained its ownership of the Preferred Stock of the NRLBH, which constitutes approximately 19 4,000,000 10,000,000 6 Three Months Nine Months Revenue $ 772,591 $ 5,337,911 Cost of revenue (311,074) (3,365,901) Gross profit 461,517 1,972,010 Expenses: Selling expenses 239,427 829,174 Research and development expenses 141,388 509,796 General and administrative expenses 625,499 1,213,795 Other expenses, net 5 49,559 Net loss from discontinued operations $ (544,802) $ (630,314)

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9: STOCKHOLDERS’ EQUITY The Company is authorized to issue a total of 85,000,000 75,000,000 0.015 10,000,000 0.001 750,000 0.001 On May 19, 2014, the Company adopted a stockholder rights agreement which provides that all stockholders of record on May 26, 2014 received a non-taxable distribution of one preferred stock purchase right for each share of the Company’s common stock held by such stockholder. Each right is attached to and trades with the associated share of common stock. The rights will become exercisable only if one of the following occurs: (1) a person becomes an “Acquiring Person” by acquiring beneficial ownership of 15% or more of the Company’s common stock (or, in the case of a person who beneficially owned 15 2.0 15.00 30.00 2015 and 2016 Issuances of Additional Shares to Aspire Capital During the first quarter of 2015, we sold a total of 176,880 4,292,349 On May 26, 2015, we entered into a new common stock purchase agreement with Aspire Capital, which provided that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital was committed to purchase up to an aggregate of $ 25.0 On November 11, 2015, we terminated the May 26, 2015 agreement with Aspire Capital and entered into a new common stock purchase agreement. Concurrently with entering into the Purchase Agreement, we also entered into a registration rights agreement with Aspire Capital in which we agreed to register 405,747 During the first quarter of 2016, we sold a total of 405,747 2,153,583 On May 25, 2016, we terminated the November 11, 2015 stock purchase agreement with Aspire Capital and entered into a new common stock purchase agreement with Aspire Capital which provided that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $ 10.0 49,736 198,523 746 197,777 2015 Offering of Common Stock and Pre-Funded Warrants In June 2015, the Company entered into a Placement Agent Agreement with Roth Capital Partners, LLC. and Dawson James Securities, Inc. (the “2015 Placement Agents”), pursuant to which the Company issued and sold an aggregate of 96,934 17.25 240,733 17.10 5.2 577,790 0.15 2016 Public Offering of Common Stock In August 2016, the Company completed an underwritten public offering of 1,150,000 2.50 2,875,000 2,645,000 Outstanding Warrants 402,228 Outstanding Exercise Price Expiration Date 2011 private placement 283,470 $ 18.75 - 24.00 May 18, 2018 Acueity warrants 21,667 75.00 September 30, 2017 2014 public offering 77,790 45.00 January 29, 2019 Placement agent fees for Company’s offerings 16,135 31.80 – 186.45 March - November, 2018 Outside consulting 3,166 $ 63.60 January 14, 2018 402,228

NET LOSS PER SHARE

NET LOSS PER SHARE	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 10: NET LOSS PER SHARE The Company accounts for and discloses net loss per common share in accordance with FASB ASC Topic 260, Earnings Per Share Three Months Ended Nine Months Ended 2016 2015 2016 2015 Options to purchase common stock 414,177 287,494 414,177 287,494 Warrants to purchase common stock 402,228 642,962 402,228 642,962 Total 816,405 930,456 816,405 930,456

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 11: INCOME TAXES Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. As a result of the Company’s cumulative losses, management has concluded that a full valuation allowance against the Company’s net deferred tax assets is appropriate. No income tax liabilities existed as of September 30, 2016 and December 31, 2015 due to the Company’s continuing operating losses.

CONCENTRATION OF CREDIT RISK

CONCENTRATION OF CREDIT RISK	9 Months Ended
	Sep. 30, 2016
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	NOTE 12: CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 3,465,895

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 13: COMMITMENTS AND CONTINGENCIES Lease Commitments Year Ending December 31, 2300 Spring Madison Operating Leases Amount 2016 (remainder of year) $ 76,667 $ 7,395 $ 3,750 $ 87,812 2017 - 19,720 3,750 23,470 Total minimum lease payments $ 76,667 $ 27,115 $ 7,500 $ 111,282 Our main lease at 2300 Eastlake expires in 2016 The total rent expense for the three months ended September 30, 2016 and 2015 was $ 87,315 154,291 238,565 469,748 Purchase Commitments Effective May 19, 2016 the Company entered into a services agreement with KriSan Biotech Co. Ltd., a corporation organized under the laws of Taiwan, Republic of China (“KSB”). The agreement directs KSB to research and develop for the Company processes for manufacturing endoxifen and to produce an initial supply of endoxifen so that release and stability studies may be conducted. The Company has agreed to pay $ 136,000 Litigation and Contingencies On October 10, 2013, a putative securities class action complaint, captioned Cook v. Atossa Genetics, Inc. On February 14, 2014, the Court appointed plaintiffs Miko Levi, Bandar Almosa and Gregory Harrison (collectively, the “Levi Group”) as lead plaintiffs, and approved their selection of co-lead counsel and liaison counsel. The Court also amended the caption of the case to read In re Atossa Genetics, Inc. Securities Litigation. No. 2:13-cv-01836-RSM. An amended complaint was filed on April 15, 2014. The Company and other defendants filed motions to dismiss the amended complaint on May 30, 2014. The plaintiffs filed briefs in opposition to these motions on July 11, 2014. The Company replied to the opposition brief on August 11, 2014. On October 6, 2014 the Court granted defendants’ motion dismissing all claims against Atossa and all other defendants. The Court’s order provided plaintiffs with a deadline of October 26, 2014 to file a motion for leave to amend their complaint and the plaintiffs did not file such a motion by that date. On October 30, 2014, the Court entered a final order of dismissal. On November 3, 2014, plaintiffs filed a notice of appeal with the Court and have appealed the Court’s dismissal order to the U.S. Court of Appeals for the Ninth Circuit. On February 11, 2015, plaintiffs filed their opening appellate brief. Defendants’ filed their answering brief on April 13, 2015, and plaintiffs filed their reply brief on May 18, 2015. A hearing for the appeal has not been set. The Company believes this lawsuit is without merit and plans to defend itself vigorously; however, failure by the Company to obtain a favorable resolution of the claims set forth in the complaint could have a material adverse effect on the Company’s business, results of operations and financial condition. Currently, the amount of such material adverse effect cannot be reasonably estimated, and no provision or liability has been recorded for these claims as of September 30, 2016. The costs associated with defending and resolving the lawsuit and ultimate outcome cannot be predicted. These matters are subject to inherent uncertainties and the actual cost, as well as the distraction from the conduct of the Company’s business, will depend upon many unknown factors and management’s view of these may change in the future. On January 28, 2016, the Company filed a complaint in the United States District Court for the District of Delaware captioned Atossa Genetics Inc. v. Besins Healthcare Luxembourg SARL 1,762,931

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 14: STOCK BASED COMPENSATION Stock Options and Incentive Plan On September 28, 2010, the Board of Directors approved the adoption of the 2010 Stock Option and Incentive Plan, or the 2010 Plan, to provide for the grant of equity-based awards to employees, officers, non-employee directors and other key persons providing services to the Company. Awards of incentive options may be granted under the 2010 Plan until September 2020. No other awards may be granted under the 2010 Plan after the date that is 10 years from the date of stockholder approval. An aggregate of 66,667 133,333 January 1, Number of 2012 30,018 2013 34,452 2014 49,532 2015 65,557 2016 220,419 Total additional shares 399,978 The Company granted 0 185,245 140,888 Compensation costs associated with the Company’s stock options are recognized, based on the grant-date fair values of these options, over the requisite service period, or vesting period. Accordingly, the Company recognized stock based compensation expense of $ 257,389 317,986 650,053 703,726 633,962 69,764 Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2016 240,930 $ 38.89 $ - Granted 185,245 3.95 - Forfeited (35,751) 28.90 - Outstanding as of September 30, 2016 390,424 25.81 7.36 $ 6,451,077 Exercisable as of September 30, 2016 242,356 41.1 5.54 $ - Vested and expected to vest (1) 414,177 $ 28.95 7.02 $ - (1) vested shares and unvested shares after a forfeiture rate is applied At September 30, 2016, there were 237,192 unvested options outstanding and the related unrecognized total compensation cost associated with these options was approximately $1.2 million. This expense is expected to be recognized over a weighted-average period of 2.09

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 15: RELATED PARTY TRANSACTIONS Shu-Chih Chen, Ph.D., a member of the Board of Directors and spouse of Steve C. Quay, Ph.D., M.D., the Company’s CEO, has provided consultancy services to the Company. Those services primarily include providing scientific and technical expertise in Atossa’s negotiations and ongoing arrangements with the manufacturer of endoxifen which is located in Taiwan. The cost of the services provided by Dr. Chen are approximately $ 25,000

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The accompanying consolidated financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) and in accordance with U.S. generally accepted accounting principles (“GAAP”). The accompanying consolidated financial statements include the financial statements of Atossa Genetics Inc. and its formerly wholly-owned subsidiary, NRLBH. The Company sold a majority of its interest in the NRLBH in December 2015 and all of its activities are reported as discontinued operations in the accompanying consolidated financial statements. All significant intercompany account balances and transactions have been eliminated in consolidation. Certain amounts from prior years have been reclassified to conform with the 2016 presentation. On August 26, 2016, the Company completed a 1-for-15 reverse stock split of the shares of the Company’s common stock (the “Reverse Stock Split”). As a result of the Reverse Stock Split, every 15 shares of issued and outstanding common stock were combined into one issued and outstanding share of Common Stock, and the par value per share was changed to $.015 per share. No fractional shares were issued because of the Reverse Stock Split and any fractional shares that would otherwise have resulted from the Reverse Stock Split were paid in cash. As a result of the Reverse Stock Split, as of November 11, 2016, there are 3,787,967 .
Use of Estimates, Policy [Policy Text Block]	Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements: In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers: Topic 606 In August 2014, FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In February 2016, FASB issued ASU No. 2016-02, Lease Accounting Topic 842. In April 2016, the FASB issued ASU No. 2016-09, Stock Compensation Topic 718: Improvements to Employee Share-based Payment Accounting.

PREPAID EXPENSES (Tables)

PREPAID EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	Prepaid expenses consisted of the following: September 30, December 31, Prepaid insurance 38,538 104,954 Retainer and security deposits 39,218 39,218 Other 42,995 49,121 Total prepaid expenses $ 120,751 $ 193,293

FURNITURE AND EQUIPMENT (Tables

FURNITURE AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Furniture and equipment consisted of the following: September 30, December 31, Machinery and equipment $ 206,336 $ 206,337 Leasehold improvements 84,539 79,518 Total furniture and equipment 290,875 285,855 Less: Accumulated depreciation (206,338) (114,287) Total furniture and equipment, net $ 84,537 $ 171,568

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	Intangible assets consisted of the following: September 30, December 31, 2016 2015 Patents $ 1,630,000 $ 1,630,000 Capitalized license costs - 200,000 Software 113,540 113,540 Intangible assets 1,743,540 1,943,540 Less: Accumulated amortization (341,641) (242,975) Total intangible assets, net $ 1,401,899 $ 1,700,565
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Future estimated amortization expenses as of September 30, 2016 for the five succeeding years is as follows: For the Year Ending December 31, Amounts 2016 (includes the remainder of the year) $ 42,489 2017 169,576 2018 149,623 2019 149,015 2020 149,015 Thereafter 742,181 $ 1,401,899

PAYROLL LIABILITIES (Tables)

PAYROLL LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Payroll liabilities consisted of the following: September 30, December 31, Accrued bonus payable $ 438,098 $ 555,345 Accrued payroll liabilities 96,248 510,179 Accrued vacation 100,701 93,811 Total payroll liabilities $ 635,047 $ 1,159,335

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal of Consolidate Statements of Operations and Comprehensive Loss [Table Text Block]	The results of the NRLBH were segregated from continuing operations and reflected as discontinued operations for the 2015 periods on the Company’s Consolidated Statements of Operations and cash flow for the three and six months ended September 30, 2015. The loss from discontinued operations related to the operations of the NRLBH for the three and nine months ended September 30, 2015 was as follows: Three Months Nine Months Revenue $ 772,591 $ 5,337,911 Cost of revenue (311,074) (3,365,901) Gross profit 461,517 1,972,010 Expenses: Selling expenses 239,427 829,174 Research and development expenses 141,388 509,796 General and administrative expenses 625,499 1,213,795 Other expenses, net 5 49,559 Net loss from discontinued operations $ (544,802) $ (630,314)

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	As of September 30, 2016, warrants to purchase 402,228 Outstanding Exercise Price Expiration Date 2011 private placement 283,470 $ 18.75 - 24.00 May 18, 2018 Acueity warrants 21,667 75.00 September 30, 2017 2014 public offering 77,790 45.00 January 29, 2019 Placement agent fees for Company’s offerings 16,135 31.80 – 186.45 March - November, 2018 Outside consulting 3,166 $ 63.60 January 14, 2018 402,228

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The following table sets forth the number of potential common shares excluded from the calculation of net loss per diluted share for the three months and nine months ended September 30, 2016 and 2015 because the effect of them would be anti-dilutive since the Company recorded net losses for both periods: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Options to purchase common stock 414,177 287,494 414,177 287,494 Warrants to purchase common stock 402,228 642,962 402,228 642,962 Total 816,405 930,456 816,405 930,456

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Operating Leases of Lessee Disclosure [Table Text Block]	The future minimum lease payments due subsequent to September 30, 2016 under all non-cancelable operating and capital leases for the next five years are as follows: Year Ending December 31, 2300 Spring Madison Operating Leases Amount 2016 (remainder of year) $ 76,667 $ 7,395 $ 3,750 $ 87,812 2017 - 19,720 3,750 23,470 Total minimum lease payments $ 76,667 $ 27,115 $ 7,500 $ 111,282

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	The following table presents the automatic additions to the 2010 Plan since inception pursuant to the “evergreen” terms of the 2010 Plan: January 1, Number of 2012 30,018 2013 34,452 2014 49,532 2015 65,557 2016 220,419 Total additional shares 399,978
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Options issued and outstanding as of September 30, 2016 and their activities during the nine months then ended are as follows: Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2016 240,930 $ 38.89 $ - Granted 185,245 3.95 - Forfeited (35,751) 28.90 - Outstanding as of September 30, 2016 390,424 25.81 7.36 $ 6,451,077 Exercisable as of September 30, 2016 242,356 41.1 5.54 $ - Vested and expected to vest (1) 414,177 $ 28.95 7.02 $ - (1) vested shares and unvested shares after a forfeiture rate is applied

NATURE OF OPERATIONS (Details T

NATURE OF OPERATIONS (Details Textual)	1 Months Ended
	Dec. 16, 2015USD ($)
Nature Of Operations [Line Items]
Sale Of Stock Percentage	81.00%
Sale of Stock, Percentage of Ownership after Transaction	19.00%
Sale of Stock, Consideration Received on Transaction	$ 50,000
Monthly earn-out payments percentage of gross revenue	6.00%
Maximum gross revenue for Monthly earn-out payments	$ 10,000,000
Right to sell preferred stock after fours years	$ 4,000,000

GOING CONCERN (Details Textual)

GOING CONCERN (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Net Income (Loss) Attributable to Parent	$ (204,689)	$ 4,318,111	$ 3,845,235	$ 10,798,727
Cash and Cash Equivalents, at Carrying Value, Total	4,388,177	$ 7,839,439	4,388,177	7,839,439	$ 3,715,895	$ 8,500,718
Working Capital	$ 3,700,000		3,700,000
Net Cash Provided by (Used in) Operating Activities			$ (4,018,564)	$ (9,999,872)

SUMMARY OF ACCOUNTING POLICIE36

SUMMARY OF ACCOUNTING POLICIES (Details Textual) - $ / shares	1 Months Ended
	Aug. 26, 2016	Nov. 11, 2016	Sep. 30, 2016	Dec. 31, 2015
Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share			$ 0.015	$ 0.015
Common Stock, Shares, Outstanding			3,787,967	2,177,151
Reverse Stock Split [Member]
Accounting Policies [Line Items]
Stockholders' Equity, Reverse Stock Split	the Company completed a 1-for-15 reverse stock split of the shares of the Companys common stock (the Reverse Stock Split). As a result of the Reverse Stock Split, every 15 shares of issued and outstanding common stock were combined into one issued and outstanding share of Common Stock, and the par value per share was changed to $.015 per share.
Common Stock, Par or Stated Value Per Share	$ 0.015
Reverse Stock Split [Member] | Scenario, Forecast [Member]
Accounting Policies [Line Items]
Common Stock, Shares, Outstanding		3,787,967

PREPAID EXPENSES (Details)

PREPAID EXPENSES (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets [Line Items]
Prepaid insurance	$ 38,538	$ 104,954
Retainer and security deposits	39,218	39,218
Other	42,995	49,121
Total prepaid expenses	$ 120,751	$ 193,293

FURNITURE AND EQUIPMENT (Detail

FURNITURE AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Machinery and equipment	$ 206,336	$ 206,337
Leasehold improvements	84,539	79,518
Total furniture and equipment	290,875	285,855
Less: Accumulated depreciation	(206,338)	(114,287)
Total furniture and equipment, net	$ 84,537	$ 171,568

FURNITURE AND EQUIPMENT (Deta39

FURNITURE AND EQUIPMENT (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation Expense	$ 29,698	$ 32,620	$ 92,054	$ 97,059

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Patents	$ 1,630,000	$ 1,630,000
Capitalized license costs	0	200,000
Software	113,540	113,540
Intangible assets	1,743,540	1,943,540
Less: Accumulated amortization	(341,641)	(242,975)
Total intangible assets, net	$ 1,401,899	$ 1,700,565

INTANGIBLE ASSETS (Details 1)

INTANGIBLE ASSETS (Details 1) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
2016 (includes the remainder of the year)	$ 42,489
2,017	169,576
2,018	149,623
2,019	149,015
2,020	149,015
Thereafter	742,181
Total intangible assets, net	$ 1,401,899	$ 1,700,565

INTANGIBLE ASSETS (Details Text

INTANGIBLE ASSETS (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 1,743,540		$ 1,743,540		$ 1,943,540
Finite-Lived Patents, Gross	1,630,000		1,630,000		1,630,000
NextCYTE Test Development [Member]
Finite-Lived Intangible Assets [Line Items]
Disposal Group, Including Discontinued Operation, Assets, Total	163,333		163,333
Disposal group including discontinued operations, Accumulated Depreciation	36,666		$ 36,666
Minimum [Member] | Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			7 years
Maximum [Member] | Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			12 years
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,401,899		$ 1,401,899		$ 1,700,565
Amortization of Intangible Assets	7,857	$ 11,261	$ 23,572	$ 34,090
Finite-Lived Intangible Asset, Useful Life			3 years
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 37,253	$ 37,253	$ 111,761	$ 111,761

PAYROLL LIABILITIES (Details)

PAYROLL LIABILITIES (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Payroll Liabilities [Line Items]
Accrued bonus payable	$ 438,098	$ 555,345
Accrued payroll liabilities	96,248	510,179
Accrued vacation	100,701	93,811
Total payroll liabilities	$ 635,047	$ 1,159,335

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Expenses:
Net loss from discontinued operations	$ 0	$ (544,802)	$ 0	$ (630,314)
National Reference Laboratory for Breast Health, Inc [Member]
Revenue		772,591		5,337,911
Cost of revenue		(311,074)		(3,365,901)
Gross profit		461,517		1,972,010
Expenses:
Selling expenses		239,427		829,174
Research and development expenses		141,388		509,796
General and administrative expenses		625,499		1,213,795
Other expenses, net		5		49,559
Net loss from discontinued operations		$ (544,802)		$ (630,314)

DISCONTINUED OPERATIONS (Deta45

DISCONTINUED OPERATIONS (Details Textual)	1 Months Ended
	Dec. 16, 2015USD ($)
Sale of Stock, Percentage of Ownership after Transaction	19.00%
Right to sell preferred stock after fours years	$ 4,000,000
Maximum gross revenue for Monthly earn-out payments	$ 10,000,000
National Reference Laboratory for Breast Health, Inc [Member]
Percentage of gross sale	6.00%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - $ / shares	9 Months Ended
	Sep. 30, 2016	May 19, 2014
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	402,228
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 15
2011 Private Placement [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	283,470
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	May 18, 2018
2011 Private Placement [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 24
2011 Private Placement [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 18.75
Acuiety Warrants [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	21,667
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 75
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Sep. 30, 2017
2014 Public Offering [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	77,790
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 45
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Jan. 29, 2019
Placement Agent Fee [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	16,135
Placement Agent Fee [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 186.45
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Nov. 30, 2018
Placement Agent Fee [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 31.80
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Mar. 31, 2018
Outside consulting firm [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	3,166
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 63.6
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Jan. 14, 2018

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2016	May 25, 2016	May 26, 2015	Sep. 30, 2016	Mar. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	May 19, 2014
Stockholder's Equity [Line Items]
Total Shares Authorized				85,000,000		85,000,000
Common Stock, Shares Authorized				75,000,000		75,000,000		75,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.015		$ 0.015		$ 0.015
Preferred Stock, Shares Authorized				10,000,000		10,000,000		10,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001		$ 0.001		$ 0.001
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				402,228		402,228
Class of Warrant or Right, Exercise Price of Warrants or Rights									$ 15
Percentage of Common Stock Outstanding									2.00%
Entitled to Receive Worth of Common Stock									$ 30
Proceeds from Issuance of Common Stock						$ 4,695,869	$ 9,498,557
Stock Issued						$ 198,523	0
Series A Preferred Stock [Member]
Stockholder's Equity [Line Items]
Preferred Stock, Shares Authorized				750,000		750,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001		$ 0.001
2015 Public Offering [Member]
Stockholder's Equity [Line Items]
Share Price								$ 17.25
Issuance Of Prefunded Warrants								240,733
Prefunded Warrants Price								$ 17.10
Net Proceeds From Issuance Of Prefunded Warrants								$ 5,200,000
Prefunded Warrants Exercise Price								$ 0.15
Deferred Offering Costs								$ 577,790
2016 Public Offering [Member]
Stockholder's Equity [Line Items]
Stock Issued During Period, Shares, New Issues	1,150,000
Proceeds from Issuance of Common Stock	$ 2,645,000
Share Price	$ 2.50
Stock Issued During Period, Value, New Issues	$ 2,875,000
Common Stock [Member] | Stock Purchase Agreement [Member]
Stockholder's Equity [Line Items]
Stock Issued During Period, Shares, Issued for Services						49,736
Stock Issued During Period, Value, Issued for Services						$ 746
Additional Paid-in Capital [Member] | Stock Purchase Agreement [Member]
Stockholder's Equity [Line Items]
Stock Issued During Period, Value, Issued for Services						197,777
Aspire Capital Fund, Llc [Member]
Stockholder's Equity [Line Items]
Stock Issued During Period, Shares, New Issues				405,747	176,880
Proceeds from Issuance of Common Stock						$ 2,153,583	$ 4,292,349
Shares Agreed to Register in Common stock			405,747
Aspire Capital Fund, Llc [Member] | Common Stock [Member]
Stockholder's Equity [Line Items]
Proceeds from Issuance or Sale of Equity		$ 10,000,000	$ 25,000,000
Beneficial Owner [Member]
Stockholder's Equity [Line Items]
Equity Method Investment, Ownership Percentage									15.00%
Roth Capital Partners LLC And Dawson James Securities Inc [Member] | 2015 Placement Agents [Member]
Stockholder's Equity [Line Items]
Shares, Issued								96,934

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	816,405	930,456	816,405	930,456
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	414,177	287,494	414,177	287,494
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	402,228	642,962	402,228	642,962

CONCENTRATION OF CREDIT RISK (D

CONCENTRATION OF CREDIT RISK (Details Textual) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Cash, FDIC Insured Amount	$ 250,000	$ 250,000
Cash, Uninsured Amount	$ 4,138,177	$ 3,465,895

COMMITMENTS AND CONTINGENCIES50

COMMITMENTS AND CONTINGENCIES (Details)	Sep. 30, 2016USD ($)
Operating Leased Assets [Abstract]
2016 (remainder of year)	$ 87,812
2,017	23,470
Total minimum lease payments	111,282
2300 Eastlake [Member]
Operating Leased Assets [Abstract]
2016 (remainder of year)	76,667
2,017	0
Total minimum lease payments	76,667
Spring Office [Member]
Operating Leased Assets [Abstract]
2016 (remainder of year)	7,395
2,017	19,720
Total minimum lease payments	27,115
Madison [Member]
Operating Leased Assets [Abstract]
2016 (remainder of year)	3,750
2,017	3,750
Total minimum lease payments	$ 7,500

COMMITMENTS AND CONTINGENCIES51

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)	Aug. 04, 2016	May 19, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
COMMITMENTS AND CONTINGENCIES [Line Items]
Other Research And Development And General And Administration Expenses			$ 87,315	$ 154,291	$ 238,565	$ 469,748
Litigation Settlement, Amount	$ 1,762,931
2300 Eastlake [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Lease Expiration Year					2,016
KriSan Biotech Co. Ltd [Member] | Research and Development Arrangement [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Long-term Purchase Commitment, Amount		$ 136,000

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details)	9 Months Ended
	Sep. 30, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	399,978
Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	30,018
Plan 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	34,452
Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	49,532
Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	65,557
Plan 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	220,419

STOCK BASED COMPENSATION (Det53

STOCK BASED COMPENSATION (Details 1)	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares		Dec. 31, 2015USD ($)
Share Based Compensation Stock Options Activity [Line Items]
Number of Underlying Shares, Outstanding as of January 1, 2016 (in shares) | shares	240,930
Number of Underlying Shares, Granted (in shares) | shares	185,245
Number of Underlying Shares, Forfeited (in shares) | shares	(35,751)
Number of Underlying Shares, Outstanding as of Sep 30, 2016 (in shares) | shares	390,424
Number of Underlying Shares, Exercisable as of Sep 30, 2016 (in shares) | shares	242,356
Number of Underlying Shares, Vested and expected to vest (in shares) | shares	414,177	[1]
Weighted-Average Exercise Price Per Share, Outstanding as of January 1, 2016 (in dollars per share) | $ / shares	$ 38.89
Weighted-Average Exercise Price Per Share, Granted (in dollars per share) | $ / shares	3.95
Weighted-Average Exercise Price Per Share, Forfeited (in dollars per share) | $ / shares	28.90
Weighted-Average Exercise Price Per Share, Outstanding as of Sep 30, 2016(in dollars per share) | $ / shares	25.81
Weighted-Average Exercise Price Per Share, Exercisable as of Sep 30, 2016 (in dollars per share) | $ / shares	41.1
Weighted-Average Exercise Price Per Share, Vested and expected to vest (in dollars per share) | $ / shares	$ 28.95	[1]
Weighted-Average Contractual Life Remaining in Years, Outstanding as of Sep 30, 2016	7 years 4 months 10 days
Weighted-Average Contractual Life Remaining in Years, Exercisable as of Sep 30, 2016	5 years 6 months 14 days
Weighted-Average Contractual Life Remaining in Years, Vested and expected to vest	7 years 7 days	[1]
Aggregate Intrinsic Value, Granted (in dollars) | $	$ 0
Aggregate Intrinsic Value, Forfeited (in dollars) | $	0
Aggregate Intrinsic Value, Outstanding | $	6,451,077		$ 0
Aggregate Intrinsic Value, Exercisable as of Sep 30, 2016 | $	0
Aggregate Intrinsic Value, Vested and expected to vest | $	$ 0	[1]
[1]	vested shares and unvested shares after a forfeiture rate is applied

STOCK BASED COMPENSATION (Det54

STOCK BASED COMPENSATION (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	May 18, 2016	Sep. 28, 2010
Stock-based Compensation [Line Items]
Share-based Compensation	$ 257,389	$ 317,986	$ 650,053	$ 633,962
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross			185,245
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			2 years 1 month 2 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares	237,192		237,192
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 1,200,000		$ 1,200,000
Continuing Operations [Member]
Stock-based Compensation [Line Items]
Allocated Share-based Compensation Expense			633,962
Discontinued Operations [Member]
Stock-based Compensation [Line Items]
Allocated Share-based Compensation Expense			$ 69,764
Stock Option and Incentive Plan 2010 [Member]
Stock-based Compensation [Line Items]
Shares held in Employee Stock Option Plan, Suspense Shares					133,333	66,667
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	140,888		140,888
Employees And Directors [Member]
Stock-based Compensation [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross	0		185,245

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual)	9 Months Ended
	Sep. 30, 2016USD ($)
Consultant [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 25,000