Timber Pharmaceuticals (TMBR) 10-K 2 May 16 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2016	Apr. 01, 2016	Jul. 31, 2015
Document And Entity Information
Entity Registrant Name	BioPharmX Corp
Entity Central Index Key	1,504,167
Document Type	10-K
Document Period End Date	Jan. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 31.8
Entity Common Stock, Shares Outstanding		28,817,017
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2016	Jan. 31, 2015
Current assets:
Cash and cash equivalents	$ 4,039	$ 1,305
Accounts receivable, net	7	1
Inventories	100	160
Prepaid expenses and other current assets	285	239
Total current assets	4,431	1,705
Property and equipment, net	216	234
Intangible assets, net	119	149
Other assets	50	50
Restricted cash	35	35
Total assets	4,851	2,173
Current liabilities:
Accounts payable	1,777	1,152
Accrued liabilities and other current liabilities	795	187
Related party payables	225	218
Total current liabilities	$ 2,797	$ 1,557
Commitments and contingencies (Note 5)
Stockholders' equity (deficit):
Common stock, $0.001 par value; 90,000,000 shares authorized; 25,208,684 and 11,415,416 shares issued and outstanding as of January 31, 2016 and 2015, respectively	$ 25	$ 11
Additional paid in capital	28,261	4,416
Accumulated deficit	(26,232)	(10,634)
Total stockholders' equity (deficit)	2,054	(6,207)
Total liabilities, convertible redeemable preferred stock and stockholders' equity (deficit)	$ 4,851	2,173
Series A Convertible Redeemable Preferred Stock
Current liabilities:
Series A convertible redeemable preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of January 31, 2016 and 4,207,987 issued and outstanding as of January 31, 2015 (liquidation preference of $8.0 million as of January 31, 2015)		$ 6,823

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jan. 31, 2016	Jan. 31, 2015
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	90,000,000	90,000,000
Common stock, issued	25,208,684	11,415,416
Common stock, shares outstanding	25,208,684	11,415,416
Series A Convertible Redeemable Preferred Stock
Par value (in dollars per share)	$ 0.001	$ 0.001
Shares authorized	10,000,000	10,000,000
Shares issued	0	4,207,987
Shares outstanding	0	4,207,987
Liquidation preference		$ 8

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Revenues, net	$ 1	$ 64
Cost of goods sold	1	237
Gross deficit		(173)
Operating expenses:
Research and development	365	5,702	$ 2,519
Sales and marketing	378	5,109	2,299
General and administrative	401	4,174	2,953
Total operating expenses	1,144	14,985	7,771
Loss from operations	(1,144)	(15,158)	(7,771)
Other income (expense), net		(436)	40
Loss before income taxes	(1,144)	(15,594)	(7,807)
Interest expense			(76)
Provision for income taxes		4
Net and comprehensive loss	(1,144)	(15,598)	(7,807)
Accretion on Series A convertible redeemable preferred stock	(43)	(202)	(163)
Deemed dividend on Series A convertible redeemable preferred stock	(50)	(201)	(159)
Net loss available to common stockholders	$ (1,237)	$ (16,001)	$ (8,129)
Basic and diluted net loss available to common stockholders per share	$ (0.11)	$ (0.89)	$ (0.80)
Shares used in computing basic and diluted net loss per share	11,408,000	17,950,000	10,217,000

CONSOLIDATED STATEMENTS OF CONV

CONSOLIDATED STATEMENTS OF CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Series A Convertible Redeemable Preferred Stock	Total
Increase (decrease) in convertible redeemable preferred stock
Issuance of preferred stock, related warrants and common stock				$ 6,408
Issuance of preferred stock, related warrants and common stock, shares				4,207,987
Interest on preferred stock		$ (159)		$ 159	$ (159)
Accretion of stock issuance costs		(163)		163	(163)
Balance Ending, Amount at Dec. 31, 2014				$ 6,730
Balance Ending, Shares at Dec. 31, 2014				4,207,987
Balance Beginning, Amount at Dec. 31, 2013	$ 7	306	$ (1,683)		(1,370)
Balance Beginning, Shares at Dec. 31, 2013	7,025,000
Increase (decrease) in stockholders' deficit
Thompson Designs, Inc. common stock assumed in conjunction with Share Exchange	$ 2	(2)
Thompson Designs, Inc. common stock assumed in conjunction with Share Exchange (in shares)	2,000,000
Issuance of common stock due to exercise of options	$ 1	98			99
Issuance of common stock due to exercise of options (in shares)	824,310
Issuance of convertible notes payable		204			204
Issuance of warrants to non-employees		204			204
Conversion of convertible notes payable to common stock	$ 1	1,846			1,847
Conversion of convertible notes payable to common stock (in shares)	1,526,001
Stock-based compensation		1,193			1,193
Issuance of preferred stock, related warrants and common stock		845			845
Interest on preferred stock		(159)		$ 159	(159)
Accretion of stock issuance costs		(163)		163	(163)
Net and comprehensive loss			(7,807)		(7,807)
Balance Ending, Amount at Dec. 31, 2014	$ 11	4,372	(9,490)		(5,107)
Balance Ending, Shares at Dec. 31, 2014	11,375,311
Increase (decrease) in convertible redeemable preferred stock
Interest on preferred stock		(50)		50	(50)
Accretion of stock issuance costs		(43)		43	(43)
Balance Ending, Amount at Jan. 31, 2015				$ 6,823
Balance Ending, Shares at Jan. 31, 2015				4,207,987
Increase (decrease) in stockholders' deficit
Issuance of common stock due to exercise of options		38			38
Issuance of common stock due to exercise of options (in shares)	40,105
Stock-based compensation		99			99
Interest on preferred stock		(50)		$ 50	(50)
Accretion of stock issuance costs		(43)		43	(43)
Net and comprehensive loss			(1,144)		(1,144)
Balance Ending, Amount at Jan. 31, 2015	$ 11	4,416	(10,634)		(6,207)
Balance Ending, Shares at Jan. 31, 2015	11,415,416
Increase (decrease) in convertible redeemable preferred stock
Issuance of common stock, net of expenses of $2,500				$ (7,226)	(7,226)
Issuance of common stock, net of expenses of $2,500 (in shares)				(4,207,987)
Interest on preferred stock		(201)		$ 201	(201)
Accretion of stock issuance costs		(202)		$ 202	(202)
Balance Ending, Shares at Jan. 31, 2016				0
Increase (decrease) in stockholders' deficit
Issuance of common stock, net of expenses of $2,500	$ 12	20,530			20,542
Issuance of common stock, net of expenses of $2,500 (in shares)	12,508,395
Issuance of common stock due to exercise of options	$ 1	82			83
Issuance of common stock due to exercise of options (in shares)	666,157
Issuance of common stock due to exercise of warrants	$ 1	1,486			1,487
Issuance of common stock due to exercise of warrants (in shares)	618,716
Expense related to the modification of warrants		436			436
Issuance of convertible notes payable		500			500
Stock-based compensation		1,214			1,214
Interest on preferred stock		(201)		$ 201	(201)
Accretion of stock issuance costs		(202)		$ 202	(202)
Net and comprehensive loss			(15,598)		(15,598)
Balance Ending, Amount at Jan. 31, 2016	$ 25	$ 28,261	$ (26,232)		$ 2,054
Balance Ending, Shares at Jan. 31, 2016	25,208,684

CONSOLIDATED STATEMENTS OF CON6

CONSOLIDATED STATEMENTS OF CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical) $ in Thousands	12 Months Ended
	Jan. 31, 2016USD ($)
Common Stock
Issuance costs	$ 2,500

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (1,144,000)	$ (15,598,000)	$ (7,807,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	99,000	1,214,000	1,193,000
Expense related to modification of warrants		436,000
Depreciation expense	1,000	56,000	25,000
Amortization expense	1,000	30,000	0
Warrants issued for services provided			99,000
Noncash interest expense			76,000
Changes in assets and liabilities:
Accounts receivable	1,000	(6,000)	(2,000)
Inventories	(22,000)	60,000	(138,000)
Prepaid expenses and other assets	30,000	(46,000)	(133,000)
Accounts payable	666,000	625,000	257,000
Accrued expenses and other liabilities	(495,000)	608,000	355,000
Related party payables	19,000	7,000	74,000
Net cash used in operating activities	(844,000)	(12,614,000)	(6,001,000)
Cash flows from investing activities:
Change in restricted cash			(35,000)
Purchases of property and equipment		(38,000)	(228,000)
Net cash used in investing activities		(38,000)	(263,000)
Cash flows from financing activities:
Proceeds from the issuance of common stock, net of $2,500 issuance costs		13,316,000
Proceeds from exercises of stock options	38,000	83,000	99,000
Proceeds from exercise of common stock warrants		1,487,000
Net proceeds from issuance of convertible redeemable preferred stock and common stock warrants			7,253,000
Proceeds from issuance of convertible notes payable		500,000	1,020,000
Net cash provided by financing activities	38,000	15,386,000	8,372,000
Net increase (decrease) in cash and cash equivalents	(806,000)	2,734,000	2,108,000
Cash and cash equivalents at beginning of year	2,111,000	1,305,000	3,000
Cash and cash equivalents at end of year	$ 1,305,000	4,039,000	2,111,000
Non-cash investing and financing activities:
Conversion of preferred stock to common stock		7,226,000
Conversion of convertible notes payable to common stock			1,847,000
Fair value of beneficial conversion feature issued in connection with convertible notes payable			204,000
Supplemental disclosures:
Income taxes paid		$ 4,000
Convertible Debt Warrant
Non-cash investing and financing activities:
Issuance of common stock warrants			$ 105,000

CONSOLIDATED STATEMENTS OF CAS8

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	12 Months Ended
	Jan. 31, 2016USD ($)
Common Stock
Issuance costs	$ 2,500

DESCRIPTION OF BUSINESS AND SUM

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jan. 31, 2016
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business BioPharmX Corporation (the "Company") is incorporated under the laws of the state of Delaware and originally incorporated on August 30, 2010 in Nevada under the name Thompson Designs, Inc. The Company has one wholly-owned subsidiary, BioPharmX, Inc., a Nevada corporation. The Company is a specialty pharmaceutical company focused on utilizing its proprietary drug delivery technologies to develop and commercialize novel prescription and over-the-counter, or OTC, products that address large markets in women's health and dermatology. The Company's objective is to develop products that treat health or age-related conditions that (1) are not presently being addressed or treated or (2) are currently treated with drug therapies or drug delivery approaches that are suboptimal. The Company's strategy is designed to bring new products to market by identifying optimal delivery mechanisms and/or alternative applications for FDA-approved active pharmaceutical ingredients, or APIs, while in appropriate circumstances, reducing the time, cost and risk typically associated with new product development by repurposing drugs with demonstrated safety profiles, taking advantage of the regulatory approval pathway under Section 505(b)(2) of the Federal Food, Drug and Cosmetic Act available for repurposed/reformulated drugs. The Company believes the 505(b)(2) regulatory pathway may reduce drug development risk and could reduce the time and resources it spends during development. Since the Company's inception, substantially all of the Company's efforts have been devoted to developing its product candidates, including conducting preclinical and clinical trials, and providing general and administrative support for its operations. The Company commercially launched its breast health supplement at the end of 2014, although to-date the Company has not generated significant revenue from product sales. The Company is not dependent on sales to any one customer. The Company has financed its operations primarily through the sale of equity and convertible debt securities. In June 2015, the Company raised $7.8 million through the sale of its common stock in a public offering and concurrently completed an uplisting to the NYSE MKT. In December 2015 we raised net proceeds of $5.5 million in a private offering of our common stock and, in April 2016, we raised net proceeds of approximately $3.6 million from an issuance of common stock and warrants to purchase common stock in a public offering. Share Exchange On January 23, 2014, the Company (then operating as Thompson Designs, Inc.), BioPharmX, Inc. and stockholders of BioPharmX, Inc., who collectively owned 100% of BioPharmX, Inc., entered into and consummated transactions pursuant to a share exchange agreement, such transaction referred to as the Share Exchange, whereby the Company issued to the stockholders of BioPharmX, Inc. an aggregate of 7,025,000 shares of its common stock, in exchange for 100% of the shares of BioPharmX, Inc. held by stockholders. The shares of the Company's common stock received by the stockholders of BioPharmX, Inc. in the Share Exchange constituted approximately 77.8% of its then issued and outstanding common stock, after giving effect to the issuance of shares pursuant to the share exchange agreement. As a result of the Share Exchange, BioPharmX, Inc. became the Company's wholly-owned subsidiary. For accounting purposes, the Share Exchange was treated as a reverse acquisition with BioPharmX, Inc. as the acquirer and the Company as the acquired party, and as a result the historical financial statements prior to the Share Exchange included in this Annual Report on Form 10-K are the historical financial statements of BioPharmX, Inc. On March 3, 2014, the Company changed its name to BioPharmX Corporation. On May 16, 2014, the Company reincorporated from Nevada to Delaware. Change in Fiscal Year End On March 26, 2015, the board of directors of the Company approved a change in its fiscal year end from December 31 to January 31. Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). The accompanying financial statements include the accounts of BioPharmX and its wholly-owned subsidiary. All intercompany transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses recognized during the reported period. Actual results could differ from those estimates. Reclassification Certain prior year amounts have been reclassified to conform to the current year presentation. Deferred rent, accrued payroll and deferred revenue have been included in accrued liabilities and other current liabilities. The amounts for the prior periods have been reclassified to be consistent with the current year presentation and have no impact on previously reported total assets, total stockholders' deficit or net loss. Fair Value Measurements The Company recognizes and discloses the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). Each level of input has different levels of subjectivity and difficulty involved in determining fair value. • Level 1—Inputs used to measure fair value are unadjusted quoted prices that are available in active markets for the identical assets or liabilities as of the reporting date. • Level 2—Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. • Level 3—Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. As of January 31, 2016, the Company held $3.6 million in money market funds, which are classified as Level 1 within the fair value hierarchy. No unrealized gains or losses are recorded in connection with these amounts. Accounts Receivable Accounts receivable is recorded net of cash discounts for prompt payment and return allowances. There was no allowance for doubtful accounts receivable recorded at either January 31, 2016 or 2015. Inventories Inventories are stated at the lower of cost or market. Cost is determined using the standard cost method which approximates actual cost on a first-in, first-out basis. Market value is determined as the lower of replacement cost or net realizable value. The Company regularly reviews inventory quantities in consideration of actual loss experiences, projected future demand and remaining shelf life to record a provision for excess and obsolete inventory when appropriate. Fair Value of Financial Instruments Carrying amounts of certain of the Company's financial instruments, including cash and cash equivalents, prepaid and other current assets, accounts payable, accrued expenses and other liabilities and related party payables approximate fair value due to their short maturities. Property and Equipment Property, plant and equipment is stated at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized using the straight-line method. Repairs and maintenance costs are expensed as incurred. Estimated useful lives in years are as follows: Description Estimated Useful Life Furniture 5 - 7 Laboratory equipment 3 - 5 Computer and equipment 3 - 5 Software 5 Intangible Assets Intangible assets with finite useful lives are amortized over their estimated useful lives. Intangible assets with finite useful lives are reviewed for impairment when facts or circumstances suggest that the carrying value of these assets may not be recoverable. The intangible assets were acquired in March 2013 in connection with the collaboration and license agreement with Iogen detailed in Note 5. Amortization of the intangible assets commenced in January 2015 with the first recognition of revenue related to VI 2 OLET and is being taken on a straight-line basis over 5 years. Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset might not be recoverable. When such an event occurs, management determines whether there has been an impairment by comparing the anticipated undiscounted future net cash flows to the related asset's carrying value. If an asset is considered impaired, the asset is written down to fair value, which is determined based either on discounted cash flows or appraised value, depending on the nature of the asset. The Company has not identified any such impairment losses to date. Restricted Cash The Company has restricted cash in the amount of $35,000 held in a money market account to secure the credit line of the Company's credit cards. Revenue Recognition VI 2 OLET is a new product in the dietary supplement field. Revenue is recognized provided that persuasive evidence of a sales arrangement exists, the price is fixed or determinable, title and risk of loss has transferred, calculability of the resulting receivable is reasonably assured, there are no customer acceptance requirements and we do not have any significant post-shipment obligations. The Company recognizes revenue on a sell-through basis for customer arrangements in which it does not have historical information to estimate product returns, pricing discounts or other concessions upon shipment. For these product shipments, the Company invoices the reseller, records deferred revenue at the gross invoice sales price and classifies the cost basis of the product held by the wholesaler as a component of inventory. Deferred revenue is adjusted for price protection and other revenue reserves. Revenue is recognized when product is sold by the reseller to the end user, on a first-in first-out (FIFO) basis. For customer arrangements in which returns, price discounts and other concessions can be reasonably estimated, revenue is recognized upon shipment and a reserve is recorded for returns, price discounts and other concessions. Cost of Good Sold Costs of good sold includes direct costs related to the sale of the Company's iodine dietary supplement, write-downs of excess and obsolete inventories, and amortization of intangible assets. Shipping and Handling Costs Shipping and handling costs are expensed as incurred and are included in cost of goods sold. Research and Development Expenses Research and development expenses are expensed as incurred and consist primarily of personnel costs, including salaries, benefits and stock-based compensation, clinical studies performed by contract research organizations ("CROs"), consulting, materials, supplies, and facilities and other overhead allocations. Advertising Expenses The Company expenses the costs of advertising, including promotional expenses, as incurred. Advertising expenses were $1.2 million for year ended January 31, 2016, $90,000 for the one month ended January 31, 2015 and $68,000 for the year ended December 31, 2014. Income Taxes The Company accounts for income taxes using the liability method whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Valuation allowances are established to reduce deferred tax assets when management estimates, based on available objective evidence, that it is more likely than not that the benefit will not be realized for the deferred tax assets. The Company's policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. No interest expense was recognized during the periods presented. Stock-Based Compensation The Company recognizes stock-based compensation for equity awards on a straight-line basis over their vesting periods based on the grant date fair value. The Company estimates the fair value of stock options granted using the Black-Scholes pricing model. This model also requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. Equity instruments issued to non-employees are recorded at their fair value on the measurement date and are subject to periodic adjustment as the underlying equity instruments vest. Comprehensive Loss Comprehensive loss is the change in equity of an enterprise, except those resulting from stockholder transactions. Accordingly, comprehensive loss includes certain changes in equity that are excluded from net loss. For the year ended January 31, 2016, one month ended January 31, 2015 and year ended December 31, 2014, the Company's comprehensive loss is equal to net loss. There were no components of other comprehensive loss for any of the periods presented. Net Loss Per Share Basic net loss per share attributable to common stockholders is calculated based on the weighted-average number of shares of the Company's common stock outstanding during the period. Diluted net loss per share attributable to common stockholders is calculated based on the weighted-average number of shares of the Company's common stock outstanding and other dilutive securities outstanding during the period. The potential dilutive shares of common stock resulting from the assumed exercise of outstanding stock options, warrants and the assumed conversion of preferred stock are determined under the treasury stock method. As of January 31, 2016, January 31, 2015 and December 31, 2014, 5,741,000, 9,793,000 and 9,713,000 potentially dilutive securities, respectively, were excluded from the computation of diluted loss per share because their effect on net loss per share would be anti-dilutive. Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-11, Inventory (Topic 330), Simplifying the Measurement of Inventory, which applies to all inventory except that which is measured using last-in, first-out (LIFO) or the retail inventory method. Inventory measured using first-in, first-out (FIFO) or average cost is included in the new amendment. The amendment will take effect for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company is in the process of evaluating the impact of adoption on the its consolidated financial statements. In August 2015, FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (ASU No. 2014-09). This update defers the effective dates of ASU No. 2014-09 (originally issued in June 2014) for public business entities by one year, or until annual reporting periods beginning after December 15, 2017, including interim reporting periods within the reporting period. ASU No. 2014-09 gives entities a single comprehensive model to use in reporting information about the amount and timing of revenue resulting from contracts to provide goods or services to customers. The proposed ASU, which would apply to any entity that enters into contracts to provide goods or services, would supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, the update would supersede some cost guidance included in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts. The update removes inconsistencies and weaknesses in revenue requirements and provides a more robust framework for addressing revenue issues and more useful information to users of financial statements through improved disclosure requirements. In addition, the update improves comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. The Company is continuing to review the provisions of this ASU to determine if there will be any impact on its results of operations, cash flows or financial condition. In February 2016, FASB issued ASU No. 2016-02, Leases, which requires entities to recognize assets and liabilities for leases with lease terms greater than twelve months. The new guidance also requires quantitative and qualitative disclosures regarding the amount, timing and uncertainty of cash flows arising from leases. The standard is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted upon issuance. The Company is in process of evaluating the impact of adoption on its consolidated financial statements. In August 2014, FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40). This ASU provides guidance to determine when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date that the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity's ability to continue as a going concern. This standard is effective for annual periods ending after December 15, 2016. The Company is evaluating the impact of the adoption of this ASU on its consolidated financial statements. The Company has reviewed other recent accounting pronouncements and concluded they are either not applicable to the business, or no material effect is expected on the consolidated financial statements as a result of future adoption.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Jan. 31, 2016
GOING CONCERN
GOING CONCERN	2. GOING CONCERN The Company has a limited operating history and its prospects are subject to risks, expenses and uncertainties frequently encountered by companies in the industry. The Company's ability to generate income in the short-run will depend greatly on the rate of adoption and ability to establish a sustainable market for VI 2 OLET. The Company continues its research and development efforts for its products, which will require significant funding. If revenues fall short of expectations or research and development efforts require higher than anticipated capital, then there may be a negative impact on the financial viability of the Company. The Company has incurred recurring losses and negative cash flows from operations since inception and has funded its operating losses through the sale of common stock in public and private offerings and the issuance of convertible notes, Series A convertible redeemable preferred stock and warrants. In June 2015, the Company raised net proceeds of $7.8 million in a public offering of its common stock. In December 2015, the Company raised net proceeds of $5.5 million in a private offering of its common stock and, in April 2016, raised net proceeds of approximately $3.6 million in a public offering of its common stock. The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company plans to increase working capital by managing its cash flows and expenses, securing financing and increasing revenue. The Company continues to pursue additional channel distribution expansion for VI 2 OLET to provide even broader access to consumers. Risks include, but are not limited to, the uncertainty of availability of additional financing and the uncertainty of achieving future profitability. Management of the Company intends to raise additional funds through the issuance of equity securities. The Company has an effective shelf registration statement on file with the SEC to allow it to sell up to approximately $100 million of its securities from time to time prior to February 2019, subject to regulatory limitations. For example, pursuant to General Instruction I.B.6 of Form S-3, in no event will the Company sell securities pursuant to the shelf registration statement with a value of more than one-third of the aggregate market value of its common stock held by non-affiliates in any 12-month period, so long as the aggregate market value of its common stock held by non-affiliates is less than $75.0 million. There can be no assurance that such financing will be available or on terms which are favorable to the Company. Failure to generate sufficient cash flows from operations, raise additional capital or reduce certain discretionary spending could have a material adverse effect on the Company's ability to achieve its intended business objectives. These factors raise substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements do not contain any adjustments that might result from the resolution of any of the above uncertainties. As shown in the accompanying consolidated financial statements, the Company incurred a net loss available to common stockholders of $16.0 million during the year ended January 31, 2016, and had an accumulated deficit of $26.2 million as of January 31, 2016. As of January 31, 2016, the Company had working capital of approximately $1.6 million. While management of the Company believes that it has a plan to fund ongoing operations, there is no assurance that its plan will be successfully implemented.

BALANCE SHEET DETAILS

BALANCE SHEET DETAILS	12 Months Ended
	Jan. 31, 2016
BALANCE SHEET DETAILS
BALANCE SHEET DETAILS	3. BALANCE SHEET DETAILS January 31, 2016 2015 (in thousands) Inventories: Work in process $ $ Finished goods Channel inventory ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 31, 2016 2015 (in thousands) Property and equipment, net: Furniture $ $ Laboratory equipment Computer and equipment Software ​ ​ ​ ​ ​ ​ ​ ​ Less: accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation expense for the year ended January 31, 2016, one month ended January 31, 2015 and year ended December 31, 2014 was $56,000, $1,000 and $25,000, respectively. Intangible assets, net: Intangible assets were as follows (dollar amounts in thousands): As of January 31, 2016 Estimated Useful Life Gross Value Accumulated Amortization Net Value Intangible assets 5 years $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of January 31, 2015 Estimated Useful Life Gross Value Accumulated Amortization Net Value Intangible assets 5 years $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization expense for the year ended January 31, 2016 and one month ended January 31, 2015 was $30,000 and $1,000, respectively. No amortization expense was recorded for the year ended December 31, 2014. Amortization is recorded in cost of goods sold. As of January 31, 2016, the estimated aggregate future amortization expense in future years is as follows (in thousands): Years ending January 31: 2017 $ 2018 2019 2020 ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 31, 2016 2015 (in thousands) Accrued liabilities: Payroll $ $ Research and development — Legal — Marketing — Deferred rent Deferred revenue Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

RELATED PARTY PAYABLES

RELATED PARTY PAYABLES	12 Months Ended
	Jan. 31, 2016
RELATED PARTY PAYABLES
RELATED PARTY PAYABLES	4. RELATED PARTY PAYABLES Since inception, the founding executives of the Company have made advances to cover short-term operating expenses. Additionally, since the beginning of 2014 a portion of their compensation has been deferred and is included in this balance. These advances and deferred compensation are non-interest bearing and have periodically been repaid to these executives. Related party payables as of January 31, 2016 and 2015 were $225,000 and $218,000, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jan. 31, 2016
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	5. COMMITMENTS AND CONTINGENCIES Commitments The following table summarizes the Company's commitments as of January 31, 2016 (in thousands): Total 2017 2018 2019 2020 2021 Operating lease $ $ $ — $ — $ — $ — Purchase commitment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ On August 23, 2013, the Company signed a lease for 10,800 square feet of office and laboratory space in Menlo Park, California. The lease expires in November 2016. Rent expense for the year ended January 31, 2016, one month ended January 31, 2015 and year ended December 31, 2014 was $357,000, $26,000 and $310,000, respectively. The purchase commitment relates to the manufacturing of VI 2 OLET and is non-cancelable. Legal Proceedings The Company is not currently a party to any legal proceedings. The Company is not aware of any pending legal proceeding to which any of its officers, directors, or any beneficial holders of 5% or more of its voting securities are adverse to the Company or have a material interest adverse to the Company. Indemnification The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claim by any third-party with respect to the Company's technology. The term of these indemnification agreements is generally perpetual. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future, but have not yet been made. The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual. The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. No liability associated with such indemnifications has been recorded to date. License Agreement In March 2013, the Company entered into an amended and restated collaboration and license agreement with Iogen, which provides the Company with a license to certain rights to label, market, and resell the finished inventory and ongoing manufacturing of the Iogen molecular iodine technology for future product formulation development and commercialization. New formulation patents developed by the Company will be solely owned by the Company. The agreement gives the Company a perpetual, fully paid-up, non-exclusive license to make, have made, use, sell and offer for sale and import products. Pursuant to the terms of the license, the Company must: • Pay a fee for the non-exclusive license to the IP. • Pay 30% of net profit associated with direct commercialization of an OTC product or 30% of net royalties received from any sub-licensee. • Pay a royalty of 3% of net sales for the first 24 months of commercialization and 2% of net sales thereafter for a prescription iodine tablet developed and commercialized under the license. • Pay a royalty of 3% of net sales for the first 12 months of commercialization for other products developed and commercialized under the license and 2% of net sales thereafter until expiration of applicable patents covering such products and 1% thereafter. • Pay a fixed royalty fee for the protection and indemnification of licensed intellectual property rights ("IP rights") for the prescription product developed, marketed and sold from newly developed formulations as long as the patents are valid and cover the prescription product. • Pay a fixed royalty fee for the protection and indemnification of licensed IP rights for the other products utilizing the molecular iodine technology developed, marketed and sold from newly developed formulations as long as the patents are valid and cover the prescription product. The Company capitalized as intangible assets, the amount of $150,000 related to this agreement. As of January 31, 2016 and 2015, the balance, net of amortization, was $119,000 and $149,000, respectively. No royalties have been paid as of January 31, 2016.

CONVERTIBLE REDEEMABLE PREFERRE

CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY	12 Months Ended
	Jan. 31, 2016
CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY
CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY	6. CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY Common Stock As described in Note 1, on January 23, 2014, the Company issued 7,025,000 shares of its common stock to BioPharmX, Inc. stockholders. The Company issued convertible notes payable ("Notes") from September 2012 through March 2014. Under the terms of the Notes, on April 11, 2014, the Notes automatically converted into 1,526,001 shares of common stock upon the Company's sale of Series A Preferred Stock. In June 2015, the Company uplisted to the NYSE MKT and simultaneously completed a public offering (the "Offering") in which it issued 3,636,384 shares of common stock resulting in net proceeds of $7.8 million. Pursuant to the subscription agreement dated October 24,2014, KIP, an existing stockholder, shall purchase shares in the KIP private placement upon the earlier to occur of (i) the Company receiving revenues from Violet of $2,000,000 or (ii ) receipt by the Company of approval to list on any tier of the NYSE or Nasdaq stock market at a market price of at least $3.70 per share. In addition, KIP has previously informed the Company of its intention to complete the KIP private placement even if the Company’s stock price was not at least $3.70 per share. As of May 2, 2016, this private placement has not closed, and the Company is unable to predict if or when the private placement will close. As consideration for Ping Wang's service as a director of the Company, 290,000 shares of the Company's common stock were issued, of which 96,667 vested immediately and 193,333 shares of the common stock will vest immediately upon completion of the $2.0 million purchase. In June 2015, the Company issued a 6% unsecured convertible note in the principal amount of $500,000 to an investor. Under the terms of the convertible note, immediately prior to the closing of the Offering, the principal amount and all accrued and unpaid interest, converted into 182,266 shares of common stock. In December 2015, the Company sold 4,100,000 shares of common stock at a price per share of $1.43 resulting in net proceeds of $5.5 million in a private placement to investment vehicles of Franklin Advisers. For a period of 5 years, Franklin Advisers have the right to purchase up to an aggregate of 20% of the securities offered by the Company in any subsequent private placement. Series A Preferred Stock The Company entered into subscription agreements for the private placement of shares of its Series A preferred stock and warrants with 47 accredited investors during 2014 whereby the Company sold an aggregate of 4,207,987 shares of Series A preferred stock at a per share price of $1.85 for gross proceeds of $7.5 million and issued to the investors for no additional consideration warrants to purchase in the aggregate 2,042,589 shares of common stock, with an exercise price of $3.70 per share. The allocated fair value of the warrants related to these subscription agreements was determined to be $845,000 and was recorded as additional paid-in capital. The fair value was computed using the Black-Scholes pricing model with the following assumptions: dividend rate of 0%, risk-free rate of 1.6% to 4.0%, contractual term of 5 years and expected volatility of 88.8%. In connection with the uplisting to the NYSE MKT, the Series A preferred stock, including accrued and unpaid interest, converted into 4,319,426 shares of common stock. In March and April 2015, the Company amended certain of the warrants issued in connection with the Series A preferred financing to reduce the exercise price of such warrants from $3.70 to $2.50 per share with a corresponding increase in the number of shares of common stock exercisable under the warrants so that the aggregate exercise value of such warrants remained the same. As of January 31, 2016, certain holders had exercised such warrants for an aggregate of 564,662 shares of common stock for an aggregate cash exercise price of $1,411,655. The Company recorded a charge for the incremental fair value of $436,000 in other expense related to the amended warrants in the first quarter of fiscal year 2016. The fair value of the warrants exercised was computed as of the date of modification using the following assumptions: dividend rate of 0%, risk-free rate of 1.6%, contractual term of 4 to 5 years and expected volatility of 85.9%. As of January 31, 2016, of the warrants issued in connection with the Series A preferred stock financing, warrants to purchase 1,661,055 shares of common stock remain outstanding. The warrant exercise agreements included a provision such that if the public offering price related to the Offering was less than $3.125 per share, then immediately prior to the closing of the Offering, additional shares of common stock would be issued at no additional consideration to each holder equal to: (i) the product of (A) the difference between $2.50 per share and 80% of the public offering price and (B) such holder's shares of common stock received pursuant to exercise of the amended warrants, divided by (ii) 80% of the public offering price in the Offering. Based on a public offering price of $2.75 per share, 77,006 shares of common stock were issued pursuant to this provision. Warrants In addition to the warrants issued in conjunction with the subscription agreements, the Company issued warrants on May 15, 2014, to a service provider for 316,395 shares of common stock at an exercise price of $2.035 per share, which were valued at $99,000 and expensed. As of January 31, 2016, all were outstanding. On May 14, 2014, the Company also issued warrants valued at $105,000 for 343,559 shares of common stock at an exercise price of $1.85 per share to a qualified investor as a part of his convertible loan package. These warrants expire five years after the date of issuance. These warrants are immediately exercisable, and in June 2015, a portion of the warrants were exercised for 54,054 shares of common stock. As of January 31, 2016, warrants exercisable for 289,505 shares of common stock remain outstanding. In connection with the Offering, 109,091 warrants were issued to the underwriters at the public offering price of $2.75. These warrants expire five years after the date of issuance. As of January 31, 2016, all were outstanding. Equity Incentive Plan On January 23, 2014, the Company adopted the 2014 Equity Incentive Plan, or the 2014 Plan, which permits the Company to grant stock options to directors, officers or employees of the Company or others to purchase shares of common stock of the Company through awards of incentive and nonqualified stock options, restricted stock awards and stock appreciation rights. Stock options previously issued under BioPharmX, Inc.'s 2011 Equity Incentive Plan were substituted with stock options issued under the 2014 Plan. Stock options generally vest in two to four years and expire ten years from the date of grant. The total number of shares originally reserved and available for grant and issuance pursuant to the 2014 Plan was 2,700,000. Shares issued under the 2014 Plan are drawn from authorized and unissued shares or shares now held or subsequently acquired by the Company. On November 7, 2014, the Company increased the stock reserve available to the 2014 Plan for stock awards from 2,700,000 shares to 4,500,000 shares. The following table summarizes the Company's stock option activities under the 2014 Plan: Available for Grant Shares Weighted Average Exercise Prices Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Balance at January 1, 2013 $ Granted ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2013 $ Additional shares authorized — — Granted ) Exercised — ) Cancelled ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2014 $ $ Granted ) Exercised — ) Cancelled ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 31, 2015 $ $ Granted ) Exercised — ) Cancelled ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 31, 2016 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and exercisable $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Inducement Grants The Company has also awarded inducement options to purchase common stock to new employees outside of the 2014 Plan as material inducements to the acceptance of employment with the Company as permitted under Section 711(a) of the NYSE MKT Company Guide. Such options vest at the rate of 25% of the shares on the first anniversary of the commencement of such employee's employment with the Company, and then one forty-eighth (1/48) of the shares monthly thereafter subject to such employee's continued service. The following table summarizes the Company's inducement grant stock option activities: Shares Weighted Average Exercise Prices Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Balance at January 31, 2015 — — — — Granted $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 31, 2016 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and exercisable — $ — — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following table summarizes significant ranges of outstanding and exercisable options as of January 31, 2016: Options Outstanding Options Vested and Exercisable Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (in Years) Weighted Average Exercise Prices Number Vested and Exercisable Weighted Average Exercise Prices $0.25 - $1.00 $ $ $1.01 - $1.67 $ $ $1.68 - $3.00 $ $ $3.01 - $3.25 $ — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The total intrinsic value of stock options exercised during the year ended January 31, 2016, the month ended January 31, 2015 and year ended December 31, 2014 was $1.4 million, $82,000 and $676,000, respectively. The weighted average grant date fair values of the stock options granted during the year ended January 31, 2016, the month ended January 31, 2015 and year ended December 31, 2014 was $1.44, $1.92 and $1.10, respectively.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Jan. 31, 2016
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	7. STOCK-BASED COMPENSATION The following table summarizes the stock-based compensation expenses included in the Company's Statement of Operations and Comprehensive Loss for the periods ended (in thousands): Year ended January 31, One month ended January 31, Year ended December 31, 2016 2015 2014 Research and development $ $ Sales and marketing General and administrative ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company estimates the fair value of stock options granted using the Black-Scholes pricing model. This model also requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. For employee grants, the fair value is amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. As of January 31, 2016, total compensation costs related to unvested, but not yet recognized, stock-based awards was $2.7 million, net of estimated forfeitures. This cost will be amortized on a straight-line basis over a weighted average remaining period of 3.02 years and will be adjusted for subsequent changes in estimated forfeitures. Valuation Assumptions The following assumptions were used to calculate the estimated fair value of awards granted for the periods ended: Year ended January 31, One month ended January 31, Year ended December 31, 2016 2015 2014 Expected volatility 81.3% - 82.6% % % Expected term in years 6.0 Risk-free interest rate 1.57% - 2.26% % % Expected dividend yield —% — % — % Expected Term The expected term represents the period that the Company's stock-based awards are expected to be outstanding. For awards granted subject only to service vesting requirements, the Company utilizes the simplified method for estimating the expected term of the stock-based award, instead of historical exercise data. Expected Volatility The Company uses the historical volatility of the price of the common shares of selected public companies in the biotechnology sector due to its limited trading history. Expected Dividend The Company has never paid dividends on its common shares and currently does not intend to do so and, accordingly, the dividend yield percentage is zero for all periods. Risk-Free Interest Rate The Company bases the risk-free interest rate used in the Black-Scholes pricing method upon the implied yield curve currently available on U.S. Treasury zero-coupon issues with a remaining term equal to the expected term used as the assumption in the model.

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Jan. 31, 2016
EMPLOYEE BENEFIT PLAN
EMPLOYEE BENEFIT PLAN	8. EMPLOYEE BENEFIT PLAN The Company sponsors a 401(k) defined contribution plan for its employees. This plan provides for tax-deferred salary deductions for all full-time employees. Employee contributions are voluntary. Employees may contribute up to 100% of their annual compensation to this plan, as limited by an annual maximum amount as determined by the Internal Revenue Service. The Company may match employee contributions in amounts to be determined at the Company's sole discretion. The Company has made no contributions to the plan for the year ended January 31, 2016, the month ended January 31, 2015 and the year ended December 31, 2014.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jan. 31, 2016
INCOME TAXES
INCOME TAXES	9. INCOME TAXES No federal income taxes were provided in the year ended January 31, 2016, month ended January 31, 2015 or year ended December 31, 2014 due to the Company's net losses. The provision of income taxes consist of state minimum income taxes. At January 31, 2016, the Company had available federal net operating loss ("NOL") carry-forwards of approximately $19.4 million which will begin to expire in 2030 and California state NOL carry-forwards of approximately $19.4 million which will begin to expire in 2030. At January 31, 2016 and 2015, the net deferred tax assets of approximately $8.8 million and $3.6 million, respectively, generated primarily by NOL carry-forwards, have been fully reserved due to the uncertainty surrounding the realization of such benefits. The net valuation allowance increased by approximately $5.2 million, $0.4 million and $2.6 million during the year ended January 31, 2016, the month ended January 31, 2015 and year ended December 31, 2014, respectively. Current tax laws impose substantial restrictions on the utilization of net operating loss and credit carry-forwards in the event of an "ownership change," as defined by the Internal Revenue Code. If there should be an ownership change, the Company's ability to utilize its carry-forwards could be limited. Significant components of the Company's deferred tax assets were as follows (in thousands): January 31, 2016 2015 Deferred tax assets: Net operating loss carryforwards $ $ Stock-based compensation expense — Tax credit carryforwards — Other ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets Less: Valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax assets $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ A reconciliation of income taxes provided at the federal statutory rate (34%) to the actual income tax provision was as follows (in thousands): Year ended January 31, 2016 Income tax benefit computed at U.S. statutory rate $ ) State income tax (net of federal benefit) ) Stock-based compensation Warrant valuation Research and development credits ) Change in valuation allowance Other ​ ​ ​ ​ ​ Income tax provision $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of January 31, 2016 and 2015, the Company did not have any material unrecognized tax benefits. The tax years from 2010 to 2016 remain open for examination by the federal and state authorities.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jan. 31, 2016
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS.	10. SUBSEQUENT EVENTS In April 2016, the Company raised net proceeds of approximately $3.6 million, after expenses of approximately $0.7 million, excluding any proceeds from warrant exercises, from the sale of 3,600,000 shares of common stock and 1,952,000 warrants to purchase common stock at an exercise price of $1.20 per share in an equity offering under its shelf registration statement.

DESCRIPTION OF BUSINESS AND S19

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jan. 31, 2016
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Share Exchange	Share Exchange On January 23, 2014, the Company (then operating as Thompson Designs, Inc.), BioPharmX, Inc. and stockholders of BioPharmX, Inc., who collectively owned 100% of BioPharmX, Inc., entered into and consummated transactions pursuant to a share exchange agreement, such transaction referred to as the Share Exchange, whereby the Company issued to the stockholders of BioPharmX, Inc. an aggregate of 7,025,000 shares of its common stock, in exchange for 100% of the shares of BioPharmX, Inc. held by stockholders. The shares of the Company's common stock received by the stockholders of BioPharmX, Inc. in the Share Exchange constituted approximately 77.8% of its then issued and outstanding common stock, after giving effect to the issuance of shares pursuant to the share exchange agreement. As a result of the Share Exchange, BioPharmX, Inc. became the Company's wholly-owned subsidiary. For accounting purposes, the Share Exchange was treated as a reverse acquisition with BioPharmX, Inc. as the acquirer and the Company as the acquired party, and as a result the historical financial statements prior to the Share Exchange included in this Annual Report on Form 10-K are the historical financial statements of BioPharmX, Inc. On March 3, 2014, the Company changed its name to BioPharmX Corporation. On May 16, 2014, the Company reincorporated from Nevada to Delaware.
Change in Fiscal Year End	Change in Fiscal Year End On March 26, 2015, the board of directors of the Company approved a change in its fiscal year end from December 31 to January 31.
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). The accompanying financial statements include the accounts of BioPharmX and its wholly-owned subsidiary. All intercompany transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses recognized during the reported period. Actual results could differ from those estimates.
Reclassification	Reclassification Certain prior year amounts have been reclassified to conform to the current year presentation. Deferred rent, accrued payroll and deferred revenue have been included in accrued liabilities and other current liabilities. The amounts for the prior periods have been reclassified to be consistent with the current year presentation and have no impact on previously reported total assets, total stockholders' deficit or net loss.
Fair Value Measurements	Fair Value Measurements The Company recognizes and discloses the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). Each level of input has different levels of subjectivity and difficulty involved in determining fair value. • Level 1—Inputs used to measure fair value are unadjusted quoted prices that are available in active markets for the identical assets or liabilities as of the reporting date. • Level 2—Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. • Level 3—Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. As of January 31, 2016, the Company held $3.6 million in money market funds, which are classified as Level 1 within the fair value hierarchy. No unrealized gains or losses are recorded in connection with these amounts.
Accounts Receivable	Accounts Receivable Accounts receivable is recorded net of cash discounts for prompt payment and return allowances. There was no allowance for doubtful accounts receivable recorded at either January 31, 2016 or 2015.
Inventories	Inventories Inventories are stated at the lower of cost or market. Cost is determined using the standard cost method which approximates actual cost on a first-in, first-out basis. Market value is determined as the lower of replacement cost or net realizable value. The Company regularly reviews inventory quantities in consideration of actual loss experiences, projected future demand and remaining shelf life to record a provision for excess and obsolete inventory when appropriate.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Carrying amounts of certain of the Company's financial instruments, including cash and cash equivalents, prepaid and other current assets, accounts payable, accrued expenses and other liabilities and related party payables approximate fair value due to their short maturities.
Property and Equipment	Property and Equipment Property, plant and equipment is stated at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized using the straight-line method. Repairs and maintenance costs are expensed as incurred. Estimated useful lives in years are as follows: Description Estimated Useful Life Furniture 5 - 7 Laboratory equipment 3 - 5 Computer and equipment 3 - 5 Software 5
Intangible Assets	Intangible Assets Intangible assets with finite useful lives are amortized over their estimated useful lives. Intangible assets with finite useful lives are reviewed for impairment when facts or circumstances suggest that the carrying value of these assets may not be recoverable. The intangible assets were acquired in March 2013 in connection with the collaboration and license agreement with Iogen detailed in Note 5. Amortization of the intangible assets commenced in January 2015 with the first recognition of revenue related to VI 2 OLET and is being taken on a straight-line basis over 5 years.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset might not be recoverable. When such an event occurs, management determines whether there has been an impairment by comparing the anticipated undiscounted future net cash flows to the related asset's carrying value. If an asset is considered impaired, the asset is written down to fair value, which is determined based either on discounted cash flows or appraised value, depending on the nature of the asset. The Company has not identified any such impairment losses to date.
Restricted Cash	Restricted Cash The Company has restricted cash in the amount of $35,000 held in a money market account to secure the credit line of the Company's credit cards.
Revenue Recognition	Revenue Recognition VI 2 OLET is a new product in the dietary supplement field. Revenue is recognized provided that persuasive evidence of a sales arrangement exists, the price is fixed or determinable, title and risk of loss has transferred, calculability of the resulting receivable is reasonably assured, there are no customer acceptance requirements and we do not have any significant post-shipment obligations. The Company recognizes revenue on a sell-through basis for customer arrangements in which it does not have historical information to estimate product returns, pricing discounts or other concessions upon shipment. For these product shipments, the Company invoices the reseller, records deferred revenue at the gross invoice sales price and classifies the cost basis of the product held by the wholesaler as a component of inventory. Deferred revenue is adjusted for price protection and other revenue reserves. Revenue is recognized when product is sold by the reseller to the end user, on a first-in first-out (FIFO) basis. For customer arrangements in which returns, price discounts and other concessions can be reasonably estimated, revenue is recognized upon shipment and a reserve is recorded for returns, price discounts and other concessions.
Cost of Good Sold	Cost of Good Sold Costs of good sold includes direct costs related to the sale of the Company's iodine dietary supplement, write-downs of excess and obsolete inventories, and amortization of intangible assets.
Shipping and Handling Costs	Shipping and Handling Costs Shipping and handling costs are expensed as incurred and are included in cost of goods sold.
Research and Development Expenses	Research and Development Expenses Research and development expenses are expensed as incurred and consist primarily of personnel costs, including salaries, benefits and stock-based compensation, clinical studies performed by contract research organizations ("CROs"), consulting, materials, supplies, and facilities and other overhead allocations.
Advertising Expenses	Advertising Expenses The Company expenses the costs of advertising, including promotional expenses, as incurred. Advertising expenses were $1.2 million for year ended January 31, 2016, $90,000 for the one month ended January 31, 2015 and $68,000 for the year ended December 31, 2014.
Income Taxes.	Income Taxes The Company accounts for income taxes using the liability method whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Valuation allowances are established to reduce deferred tax assets when management estimates, based on available objective evidence, that it is more likely than not that the benefit will not be realized for the deferred tax assets. The Company's policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. No interest expense was recognized during the periods presented.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes stock-based compensation for equity awards on a straight-line basis over their vesting periods based on the grant date fair value. The Company estimates the fair value of stock options granted using the Black-Scholes pricing model. This model also requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. Equity instruments issued to non-employees are recorded at their fair value on the measurement date and are subject to periodic adjustment as the underlying equity instruments vest.
Comprehensive Loss	Comprehensive Loss Comprehensive loss is the change in equity of an enterprise, except those resulting from stockholder transactions. Accordingly, comprehensive loss includes certain changes in equity that are excluded from net loss. For the year ended January 31, 2016, one month ended January 31, 2015 and year ended December 31, 2014, the Company's comprehensive loss is equal to net loss. There were no components of other comprehensive loss for any of the periods presented.
Net Loss Per Share	Net Loss Per Share Basic net loss per share attributable to common stockholders is calculated based on the weighted-average number of shares of the Company's common stock outstanding during the period. Diluted net loss per share attributable to common stockholders is calculated based on the weighted-average number of shares of the Company's common stock outstanding and other dilutive securities outstanding during the period. The potential dilutive shares of common stock resulting from the assumed exercise of outstanding stock options, warrants and the assumed conversion of preferred stock are determined under the treasury stock method. As of January 31, 2016, January 31, 2015 and December 31, 2014, 5,741,000, 9,793,000 and 9,713,000 potentially dilutive securities, respectively, were excluded from the computation of diluted loss per share because their effect on net loss per share would be anti-dilutive.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-11, Inventory (Topic 330), Simplifying the Measurement of Inventory, which applies to all inventory except that which is measured using last-in, first-out (LIFO) or the retail inventory method. Inventory measured using first-in, first-out (FIFO) or average cost is included in the new amendment. The amendment will take effect for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company is in the process of evaluating the impact of adoption on the its consolidated financial statements. In August 2015, FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (ASU No. 2014-09). This update defers the effective dates of ASU No. 2014-09 (originally issued in June 2014) for public business entities by one year, or until annual reporting periods beginning after December 15, 2017, including interim reporting periods within the reporting period. ASU No. 2014-09 gives entities a single comprehensive model to use in reporting information about the amount and timing of revenue resulting from contracts to provide goods or services to customers. The proposed ASU, which would apply to any entity that enters into contracts to provide goods or services, would supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, the update would supersede some cost guidance included in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts. The update removes inconsistencies and weaknesses in revenue requirements and provides a more robust framework for addressing revenue issues and more useful information to users of financial statements through improved disclosure requirements. In addition, the update improves comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. The Company is continuing to review the provisions of this ASU to determine if there will be any impact on its results of operations, cash flows or financial condition. In February 2016, FASB issued ASU No. 2016-02, Leases, which requires entities to recognize assets and liabilities for leases with lease terms greater than twelve months. The new guidance also requires quantitative and qualitative disclosures regarding the amount, timing and uncertainty of cash flows arising from leases. The standard is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted upon issuance. The Company is in process of evaluating the impact of adoption on its consolidated financial statements. In August 2014, FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40). This ASU provides guidance to determine when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date that the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity's ability to continue as a going concern. This standard is effective for annual periods ending after December 15, 2016. The Company is evaluating the impact of the adoption of this ASU on its consolidated financial statements. The Company has reviewed other recent accounting pronouncements and concluded they are either not applicable to the business, or no material effect is expected on the consolidated financial statements as a result of future adoption.

DESCRIPTION OF BUSINESS AND S20

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jan. 31, 2016
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of estimated useful lives of property and equipment	Description Estimated Useful Life Furniture 5 - 7 Laboratory equipment 3 - 5 Computer and equipment 3 - 5 Software 5

BALANCE SHEET DETAILS (Tables)

BALANCE SHEET DETAILS (Tables)	12 Months Ended
	Jan. 31, 2016
BALANCE SHEET DETAILS
Schedule of Inventories	January 31, 2016 2015 (in thousands) Inventories: Work in process $ $ Finished goods Channel inventory ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Property and Equipment	January 31, 2016 2015 (in thousands) Property and equipment, net: Furniture $ $ Laboratory equipment Computer and equipment Software ​ ​ ​ ​ ​ ​ ​ ​ Less: accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of Intangible assets	Intangible assets were as follows (dollar amounts in thousands): As of January 31, 2016 Estimated Useful Life Gross Value Accumulated Amortization Net Value Intangible assets 5 years $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of January 31, 2015 Estimated Useful Life Gross Value Accumulated Amortization Net Value Intangible assets 5 years $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of estimated aggregate future amortization expense in future years	As of January 31, 2016, the estimated aggregate future amortization expense in future years is as follows (in thousands): Years ending January 31: 2017 $ 2018 2019 2020 ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule Accrued liabilities	January 31, 2016 2015 (in thousands) Accrued liabilities: Payroll $ $ Research and development — Legal — Marketing — Deferred rent Deferred revenue Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Jan. 31, 2016
COMMITMENTS AND CONTINGENCIES
Future minimum commitments	The following table summarizes the Company's commitments as of January 31, 2016 (in thousands): Total 2017 2018 2019 2020 2021 Operating lease $ $ $ — $ — $ — $ — Purchase commitment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

CONVERTIBLE REDEEMABLE PREFER23

CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Jan. 31, 2016
Schedule of significant ranges of outstanding and exercisable options	Options Outstanding Options Vested and Exercisable Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (in Years) Weighted Average Exercise Prices Number Vested and Exercisable Weighted Average Exercise Prices $0.25 - $1.00 $ $ $1.01 - $1.67 $ $ $1.68 - $3.00 $ $ $3.01 - $3.25 $ — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
2014 Equity Incentive Plan
Stock option plan activity	Available for Grant Shares Weighted Average Exercise Prices Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Balance at January 1, 2013 $ Granted ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2013 $ Additional shares authorized — — Granted ) Exercised — ) Cancelled ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2014 $ $ Granted ) Exercised — ) Cancelled ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 31, 2015 $ $ Granted ) Exercised — ) Cancelled ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 31, 2016 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and exercisable $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Outside the 2014 Equity Incentive Plan
Stock option plan activity	Shares Weighted Average Exercise Prices Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Balance at January 31, 2015 — — — — Granted $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 31, 2016 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and exercisable — $ — — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Jan. 31, 2016
STOCK-BASED COMPENSATION
Summary of stock based compensation expense	The following table summarizes the stock-based compensation expenses included in the Company's Statement of Operations and Comprehensive Loss for the periods ended (in thousands): Year ended January 31, One month ended January 31, Year ended December 31, 2016 2015 2014 Research and development $ $ Sales and marketing General and administrative ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Black-Scholes option pricing model fair value assumptions	Year ended January 31, One month ended January 31, Year ended December 31, 2016 2015 2014 Expected volatility 81.3% - 82.6% % % Expected term in years 6.0 Risk-free interest rate 1.57% - 2.26% % % Expected dividend yield —% — % — %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jan. 31, 2016
INCOME TAXES
Summary of components of deferred tax assets	Significant components of the Company's deferred tax assets were as follows (in thousands): January 31, 2016 2015 Deferred tax assets: Net operating loss carryforwards $ $ Stock-based compensation expense — Tax credit carryforwards — Other ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets Less: Valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax assets $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reconciliation of income taxes at the federal statutory rate to the actual income tax provision	A reconciliation of income taxes provided at the federal statutory rate (34%) to the actual income tax provision was as follows (in thousands): Year ended January 31, 2016 Income tax benefit computed at U.S. statutory rate $ ) State income tax (net of federal benefit) ) Stock-based compensation Warrant valuation Research and development credits ) Change in valuation allowance Other ​ ​ ​ ​ ​ Income tax provision $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

DESCRIPTION OF BUSINESS AND S26

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - OFFERINGS (Details) $ in Thousands	Jan. 23, 2014shares	Apr. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Jan. 31, 2016USD ($)item	Dec. 31, 2014shares	Jan. 31, 2015USD ($)
Other Disclosures
Number of wholly owned subsidiaries | item					1
Net proceeds from the sale of common stock					$ 13,316
Ownership interest held by BPMX Stockholders	77.80%
Fair Value Measurements
Unrealized gains (losses)					0
Accounts Receivable, Net
Allowance For Doubtful Accounts					0		$ 0
Level 1
Fair Value Measurements
Available-for-sale securities					$ 3,600
BPMX
Other Disclosures
Ownership interest acquired in exchange	100.00%
Common Stock
Other Disclosures
Thompson Designs, Inc. common stock assumed in conjunction with Share Exchange (in shares) | shares	7,025,000					2,000,000
Private Placement
Other Disclosures
Net proceeds from the sale of common stock			$ 5,500
Public Offering
Other Disclosures
Net proceeds from the sale of common stock				$ 7,800
Public Offering | Subsequent event
Other Disclosures
Net proceeds from the issuance of common stock and warrants		$ 3,600

DESCRIPTION OF BUSINESS AND S27

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Dec. 31, 2014
Intangible Assets
Estimated Useful Life		5 years	5 years
Restricted Cash
Restricted cash		$ 35,000
Marketing and Advertising Expense
Advertising expenses	$ 90,000	1,200,000		$ 68,000
Income Tax Uncertainties
Unrecognized tax benefits, interest on income tax expense	$ 0	$ 0		$ 0
Furniture | Minimum
Property and Equipment
Estimated Useful Life		5 years
Furniture | Maximum
Property and Equipment
Estimated Useful Life		7 years
Laboratory equipment | Minimum
Property and Equipment
Estimated Useful Life		3 years
Laboratory equipment | Maximum
Property and Equipment
Estimated Useful Life		5 years
Computer and equipment | Minimum
Property and Equipment
Estimated Useful Life		3 years
Computer and equipment | Maximum
Property and Equipment
Estimated Useful Life		5 years
Software
Property and Equipment
Estimated Useful Life		5 years

DESCRIPTION OF BUSINESS AND S28

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Loss Per Share (Details) - shares	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
Net Loss Per Share
Anti dilutive securities excluded from computation of diluted net loss per share	9,793,000	5,741,000	9,713,000

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($) $ in Thousands	1 Months Ended				12 Months Ended
	Apr. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
Net proceeds from the sale of common stock					$ 13,316
Maximum amount of securities to sell subject to regulatory limitation					100,000
Net loss				$ (1,144)	(15,598)	$ (7,807)
Accumulated deficit				$ (10,634)	(26,232)
Working capital					$ 1,600
Private Placement
Net proceeds from the sale of common stock		$ 5,500
Public Offering
Net proceeds from the sale of common stock			$ 7,800
Public Offering | Subsequent event
Net proceeds from the issuance of common stock and warrants	$ 3,600

BALANCE SHEET DETAILS - Invento

BALANCE SHEET DETAILS - Inventories and Property and equipment, net (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
Inventories:
Work in process	$ 61	$ 18
Finished goods	64	28
Channel inventory	35	54
Total	160	100
Property and equipment, net:
Total	266	304
Less: accumulated depreciation	(32)	(88)
Property and equipment, net	234	216
Depreciation	1	56	$ 25
Furniture
Property and equipment, net:
Total	18	21
Laboratory equipment
Property and equipment, net:
Total	26	27
Computer and equipment
Property and equipment, net:
Total	78	112
Software
Property and equipment, net:
Total	$ 144	$ 144

BALANCE SHEET DETAILS - Intangi

BALANCE SHEET DETAILS - Intangible assets, Amortization Expense, Accrued Liabilities (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Dec. 31, 2014
Intangible assets, net:
Estimated Useful Life		5 years	5 years
Gross Value	$ 150,000	$ 150,000	$ 150,000
Accumulated Amortization	(1,000)	(31,000)	(1,000)
Net Value	149,000	119,000	149,000
Amortization expense	1,000	30,000		$ 0
Finite-Lived Intangible Assets Estimated Amortization Expense in Future Years
2,017		30,000
2,018		30,000
2,019		30,000
2,020		29,000
Total		119,000
Accrued liabilities:
Payroll	128,000	209,000	128,000
Research and development		160,000
Legal		125,000
Marketing		74,000
Deferred rent	49,000	26,000	49,000
Deferred Revenue	6,000	19,000	6,000
Other	4,000	182,000	4,000
Total	$ 187,000	$ 795,000	$ 187,000

RELATED PARTY PAYABLES (Details

RELATED PARTY PAYABLES (Details) - USD ($) $ in Thousands	Jan. 31, 2016	Jan. 31, 2015
RELATED PARTY PAYABLES
Related party payables	$ 225	$ 218

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Lease Arrangements (Details)	1 Months Ended	12 Months Ended
	Jan. 31, 2015USD ($)	Jan. 31, 2016USD ($)ft²	Dec. 31, 2014USD ($)
Operating lease commitments
2,017		$ 246,000
Total		246,000
Purchase commitments
2,017		421,000
2,018		263,000
2,019		263,000
2,020		263,000
2,021		263,000
Total		1,473,000
Contractual obligation commitments
2,017		667,000
2,018		263,000
2,019		263,000
2,020		263,000
2,021		263,000
Total		$ 1,719,000
Rent expense
Leased office and laboratory space | ft²		10,800
Rent expense	$ 26,000	$ 357,000	$ 310,000

COMMITMENTS AND CONTINGENCIES34

COMMITMENTS AND CONTINGENCIES - Legal Proceedings and License Agreement (Details)	12 Months Ended
	Jan. 31, 2016
License Agreement
Legal proceedings description	5.00%
License Agreement | Iogen LLC
License Agreement
Non Royalty license fee equal to a certain percentage of net profit associated with OTC product	30.00%
Non Royalty license fee equal to a certain percentage of net royalties received from any sub-licensee	30.00%
License Agreement | Prescription Iodine Tablet | Iogen LLC
License Agreement
Royalty fee percentage based on net sales over a specific time period of commercialization	3.00%
Royalty fee percentage based on net sales after a specific period of time	2.00%
Time period for determining initial royalty fee as a percent of net sales	24 months
License Agreement | Other Products | Iogen LLC
License Agreement
Royalty fee percentage based on net sales over a specific time period of commercialization	3.00%
Royalty fee percentage based on net sales from initial period until expiration of applicable patents	2.00%
Royalty fee percentage based on net sales after a specific period of time	1.00%
Time period for determining initial royalty fee as a percent of net sales	12 months

COMMITMENTS AND CONTINGENCIES35

COMMITMENTS AND CONTINGENCIES - Intangible Assets (Details) - USD ($)	12 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Dec. 31, 2013
Finite-Lived Intangible Assets
Fees to Iogen capitalized	$ 150,000	$ 150,000
Intangible assets, net of amortization	119,000
Royalties paid	0
Intellectual Property
Finite-Lived Intangible Assets
Fees to Iogen capitalized			$ 150,000
Intangible assets, net of amortization	$ 119,000	$ 149,000

CONVERTIBLE REDEEMABLE PREFER36

CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - Common Stock (Details) - USD ($)	Apr. 11, 2014	Jan. 23, 2014	Dec. 31, 2015	Jun. 30, 2015	Jan. 31, 2016	Dec. 31, 2014	Dec. 14, 2015	Jan. 31, 2015
Net proceeds from the sale of common stock					$ 13,316,000
Shares issued					25,208,684			11,415,416
Common Stock
Stock issued to BioPharmX shareholders		7,025,000				2,000,000
Stock issued on conversion of convertible notes	1,526,001
Issuance of common stock					12,508,395
Conversion of convertible notes payable to common stock (in shares)						1,526,001
Korea Investment Partners
Shares issued							290,000
Stock vested							96,667
Stock expected to vest							193,333
Convertible Note
Interest rate on convertible notes				6.00%
Principal amount				$ 500,000
Conversion of convertible notes payable to common stock (in shares)				182,266
Public Offering
Issuance of common stock				3,636,384
Net proceeds from the sale of common stock				$ 7,800,000
Private Placement
Net proceeds from the sale of common stock			$ 5,500,000
Korea Investment Partners | Subscription Agreement | Common Stock
Revenue from Violet				2,000,000
Subscription agreement receivable				$ 2,000,000
Korea Investment Partners | Subscription Agreement | Common Stock | Minimum
Price per share				$ 3.70
Franklin Advisers | Private Placement
Issuance of common stock			4,100,000
Net proceeds from the sale of common stock			$ 5,500,000
Price per share			$ 1.43
Period within which securities can be purchased			5 years
Franklin Advisers | Private Placement | Maximum
Percentage of securities offered by entity			20.00%

CONVERTIBLE REDEEMABLE PREFER37

CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - Series A Preferred Stock (Details)	May. 15, 2014USD ($)$ / sharesshares	May. 14, 2014USD ($)$ / sharesshares	Jun. 30, 2015$ / sharesshares	Apr. 30, 2015USD ($)$ / shares	Jan. 31, 2016USD ($)shares	Dec. 31, 2014USD ($)item$ / sharesshares
Equity
Proceeds from warrant exercises | $					$ 1,487,000
Incremental fair value of warrants | $					$ 436,000
Adjustment to paid-in capital, warrant fair value | $						$ 204,000
Public Offering
Equity
Issuance of common stock, net of expenses of $2,500 (in shares)			3,636,384
Warrant | Public Offering | Underwriters
Equity
Number of shares of common stock subject to warrant			109,091
Warrants exercise price | $ / shares			$ 2.75
Warrants expiration term			5 years
Series A Warrant | Warrant
Equity
Number of shares of common stock subject to warrant						2,042,589
Warrants exercise price | $ / shares						$ 3.70
Adjustment to paid-in capital, warrant fair value | $						$ 845,000
Dividend rate						0.00%
Contractual term						5 years
Expected volatility						88.80%
Series A Warrant | Warrant | Minimum
Equity
Risk-free rate						1.60%
Series A Warrant | Warrant | Maximum
Equity
Risk-free rate						4.00%
Common Stock | Subscription Agreement | Minimum | Korea Investment Partners
Equity
Price per share | $ / shares			$ 3.70
Series A Convertible Redeemable Preferred Stock
Equity
Number of shares sold						4,207,987
Price per share | $ / shares						$ 1.85
Gross proceeds from issuance | $						$ 7,500,000
Series A Convertible Redeemable Preferred Stock | Subscription Agreement
Equity
Number of shares sold						4,207,987
Series A Convertible Redeemable Preferred Stock | Public Offering
Equity
Number of common shares into which share is convertible			4,319,426
Series A Convertible Redeemable Preferred Stock | Series A Warrant
Equity
Number of purchasers of stock | item						47
Number of shares of common stock subject to warrant					564,662
Proceeds from warrant exercises | $					$ 1,411,655
Incremental fair value of warrants | $				$ 436,000
Series A Convertible Redeemable Preferred Stock | Series A Warrant | Actual
Equity
Warrants exercise price | $ / shares				$ 2.50
Series A Convertible Redeemable Preferred Stock | Series A Warrant | Previously Reported
Equity
Warrants exercise price | $ / shares				$ 3.70
Series A Convertible Redeemable Preferred Stock | Series A Warrant | Public Offering
Equity
Offering price per share that triggers the issuance of additional shares related to the public offering | $ / shares			$ 3.125
Percentage of public offering price			80.00%
Issuance of common stock, net of expenses of $2,500 (in shares)			77,006
Series A Convertible Redeemable Preferred Stock | Series A Warrant | Warrant
Equity
Number of shares of common stock subject to warrant					1,661,055
Dividend rate				0.00%
Risk-free rate				1.60%
Expected volatility				85.90%
Series A Convertible Redeemable Preferred Stock | Series A Warrant | Warrant | Minimum
Equity
Contractual term				4 years
Series A Convertible Redeemable Preferred Stock | Series A Warrant | Warrant | Maximum
Equity
Contractual term				5 years
Series A Convertible Redeemable Preferred Stock | Service Provider Warrant | Warrant
Equity
Number of shares of common stock subject to warrant	316,395
Warrants exercise price | $ / shares	$ 2.035
Warrant expense | $	$ 99,000
Series A Convertible Redeemable Preferred Stock | Convertible Debt Warrant | Warrant
Equity
Conversion of convertible notes payable to common stock (in shares)			54,054
Number of shares of common stock subject to warrant		343,559			289,505
Warrants exercise price | $ / shares		$ 1.85
Adjustment to paid-in capital, warrant fair value | $		$ 105,000
Contractual term		5 years

CONVERTIBLE REDEEMABLE PREFER38

CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - Equity Incentive Plan (Details) - 2014 Equity Incentive Plan - shares	12 Months Ended
	Jan. 31, 2016	Nov. 07, 2014	Jan. 23, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares reserved and available for grant		4,500,000	2,700,000
Options
Share-based Compensation Arrangement by Share-based Payment Award
Expiration period	10 years
Minimum | Options
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	2 years
Maximum | Options
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	4 years

CONVERTIBLE REDEEMABLE PREFER39

CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - Stock Option Activities (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014	Dec. 31, 2013
Weighted Average Exercise Prices
Granted	$ 1.92	$ 1.44	$ 1.10
2014 Equity Incentive Plan
Available for Grant
Available for grant, beginning	1,163,000	1,043,000	94,000	1,550,000
Additional shares authorized			1,800,000
Granted	(130,000)	(1,274,000)	(891,000)	(1,456,000)
Cancelled	10,000	581,875	160,000
Available for grant, ending	1,043,000	350,875	1,163,000	94,000
Shares
Outstanding, Beginning	2,609,357	2,689,252	2,606,000	1,150,000
Granted	130,000	1,274,000	891,000	1,456,000
Exercised	(40,105)	(676,769)	(727,643)
Cancelled	(10,000)	(581,875)	(160,000)
Outstanding, Ending	2,689,252	2,704,608	2,609,357	2,606,000
Vested and exercisable		1,059,709
Vested and expected to vest		2,467,713
Weighted Average Exercise Prices
Outstanding, Beginning	$ 0.82	$ 0.91	$ 0.25	$ 0.06
Granted	2.75	2.25	1.85	0.40
Exercised	0.95	0.12	0.14
Cancelled	1.85	1.59	0.37
Outstanding, Ending	$ 0.91	1.59	$ 0.82	$ 0.25
Vested and exercisable		1.13
Vested and expected to vest		$ 1.55
Remaining Contractual Life
Outstanding	8 years 6 months 29 days	8 years 4 months 13 days	8 years 6 months 7 days
Vested and exercisable		7 years 4 months 2 days
Vested and expected to vest		8 years 3 months 15 days
Aggregate Intrinsic Value
Outstanding	$ 5,625	$ 1,343	$ 5,686
Vested and exercisable		794
Vested and expected to vest		$ 1,287
Outside the 2014 Equity Incentive Plan
Available for Grant
Granted		(660,000)
Shares
Granted		660,000
Outstanding, Ending		660,000
Vested and expected to vest		529,212
Weighted Average Exercise Prices
Granted		$ 1.44
Outstanding, Ending		1.44
Vested and expected to vest		$ 1.44
Remaining Contractual Life
Outstanding		9 years 8 months 19 days
Vested and expected to vest		9 years 8 months 19 days
Aggregate Intrinsic Value
Outstanding		$ 227
Vested and expected to vest		$ 182
Outside the 2014 Equity Incentive Plan | First anniversary
Available for Grant
Vesting percentage		25.00%
Outside the 2014 Equity Incentive Plan | Subsequent to first anniversary
Available for Grant
Vesting percentage		2.083%

CONVERTIBLE REDEEMABLE PREFER40

CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - Range of Exercise Price (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
Options Outstanding
Number Outstanding (in shares)		3,364,608
Weighted Average Remaining Contractual Life		8 years 7 months 17 days
Weighted Average Exercise Prices (in dollars per share)		$ 1.56
Options Exercisable
Number Vested and Exercisable (in shares)		1,059,709
Weighted Average Exercise Prices (in dollars per share)		$ 1.13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures
Total intrinsic value of options exercised	$ 82,000	$ 1,400,000	$ 676,000
Weighted average exercise price of Granted shares	$ 1.92	$ 1.44	$ 1.10
$0.25 - $1.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise prices, low end of range (in dollars per share)		0.25
Exercise prices, high end of range (in dollars per share)		$ 1
Options Outstanding
Number Outstanding (in shares)		882,108
Weighted Average Remaining Contractual Life		7 years 5 months 23 days
Weighted Average Exercise Prices (in dollars per share)		$ 0.41
Options Exercisable
Number Vested and Exercisable (in shares)		570,340
Weighted Average Exercise Prices (in dollars per share)		$ 0.41
$1.01 - $1.67
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise prices, low end of range (in dollars per share)		1.01
Exercise prices, high end of range (in dollars per share)		$ 1.67
Options Outstanding
Number Outstanding (in shares)		1,264,000
Weighted Average Remaining Contractual Life		9 years 8 months 27 days
Weighted Average Exercise Prices (in dollars per share)		$ 1.49
Options Exercisable
Number Vested and Exercisable (in shares)		51,664
Weighted Average Exercise Prices (in dollars per share)		$ 1.48
$1.68 - $3.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise prices, low end of range (in dollars per share)		1.68
Exercise prices, high end of range (in dollars per share)		$ 3
Options Outstanding
Number Outstanding (in shares)		988,500
Weighted Average Remaining Contractual Life		8 years 1 month 2 days
Weighted Average Exercise Prices (in dollars per share)		$ 2.28
Options Exercisable
Number Vested and Exercisable (in shares)		437,705
Weighted Average Exercise Prices (in dollars per share)		$ 2.02
$3.01 - $3.25
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise prices, low end of range (in dollars per share)		3.01
Exercise prices, high end of range (in dollars per share)		$ 3.25
Options Outstanding
Number Outstanding (in shares)		230,000
Weighted Average Remaining Contractual Life		9 years 3 months 29 days
Weighted Average Exercise Prices (in dollars per share)		$ 3.25

STOCK-BASED COMPENSATION - Expe

STOCK-BASED COMPENSATION - Expense (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
Share-based Compensation
Stock-based compensation expense	$ 99	$ 1,214	$ 1,193
Total compensation costs not yet recognized		$ 2,700
Average remaining amortization period for recognition of expense		3 years 7 days
Research and Development
Share-based Compensation
Stock-based compensation expense	27	$ 256	228
Sales and Marketing
Share-based Compensation
Stock-based compensation expense	40	443	147
General and Administrative
Share-based Compensation
Stock-based compensation expense	$ 32	$ 515	$ 818

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions (Details)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Expected volatility	82.10%		82.20%
Expected term in years	6 years		6 years
Risk-free interest rate	1.56%		1.74%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Expected volatility		81.30%
Risk-free interest rate		1.57%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Expected volatility		82.60%
Expected term in years		6 years
Risk-free interest rate		2.26%

EMPLOYEE BENEFIT PLAN (Details)

EMPLOYEE BENEFIT PLAN (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
EMPLOYEE BENEFIT PLAN
Employee maximum contribution percentage		100.00%
Employer discretionary contribution amount	$ 0	$ 0	$ 0

INCOME TAXES - NOL Carry-forwar

INCOME TAXES - NOL Carry-forwards (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2016	Dec. 31, 2014
Federal income taxes	$ 0	$ 0	$ 0
Increase in valuation allowance	$ 400	5,200	$ 2,600
Federal
Operating loss carryforwards		$ 19,400
Expiration year		Dec. 31, 2030
State | California
Operating loss carryforwards		$ 19,400
Expiration year		Dec. 31, 2030

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2016	Jan. 31, 2015
Deferred tax assets:
Net operating loss carryforwards	$ 7,727	$ 3,538
Stock-based compensation expense	577
Tax credit carryforwards	311
Other	216	50
Total deferred tax assets	8,831	3,588
Less: Valuation allowance	$ (8,831)	$ (3,588)

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Tax Provision (Details) $ in Thousands	12 Months Ended
	Jan. 31, 2016USD ($)
INCOME TAXES
Federal statutory rate	34.00%
Reconciliation of income taxes:
Income tax benefit computed at U.S. statutory rate	$ (5,302)
State income tax (net of federal benefit)	(838)
Stock-based compensation	200
Warrant valuation	148
Research and development credits	(128)
Change in valuation allowance	5,904
Other	20
Income tax provision	$ 4

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Apr. 30, 2016	Jun. 30, 2015	Jan. 31, 2016
Public Offering
Subsequent Event
Issuance of common stock		3,636,384
Common Stock
Subsequent Event
Issuance costs			$ 2,500
Subsequent event | Public Offering
Subsequent Event
Net proceeds from the issuance of common stock and warrants	$ 3,600
Issuance costs	$ 700
Issuance of common stock	3,600,000
Issuance of warrants	1,952,000
Warrants exercise price	$ 1.20