Timber Pharmaceuticals (TMBR) 10-Q 12 Jun 15 2016 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Apr. 30, 2015	Jun. 11, 2015
Document And Entity Information
Entity Registrant Name	BioPharmX Corp
Entity Central Index Key	1504167
Document Type	10-Q
Document Period End Date	30-Apr-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-30
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		12,101,609
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

Unaudited_Condensed_Consolidat

Unaudited Condensed Consolidated Balance Sheets (USD $)	Apr. 30, 2015	Jan. 31, 2015
In Thousands, unless otherwise specified
Current assets:
Cash	$479	$1,305
Accounts receivable	6	1
Inventories	215	160
Prepaid expenses and other current assets	672	239
Total current assets	1,372	1,705
Property and equipment, net	226	234
Intangible assets	142	149
Other assets	50	50
Restricted cash	35	35
Total assets	1,825	2,173
Current liabilities:
Accounts payable	1,781	1,152
Accrued expenses and other current liabilities	417	59
Payroll liabilities	202	128
Related party payables	274	218
Total current liabilities	2,674	1,557
Commitments and contingencies (Note 5)
Stockholders' deficit:
Common stock, $0.001 par value; 90,000,000 shares authorized; 12,026,994 and 11,415,416 shares issued and outstanding at April 30, 2015 and January 31, 2015, respectively	12	11
Additional paid in capital	6,336	4,416
Accumulated deficit	-14,258	-10,634
Total stockholders' deficit	-7,910	-6,207
Total liabilities, convertible redeemable preferred stock and stockholder's deficit	1,825	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; 4,207,987 issued and outstanding at April 30, 2015 and January 31, 2015 (liquidation preference of $8.2 million as of April 30, 2015)	$7,061	$6,823

Unaudited_Condensed_Consolidat1

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Apr. 30, 2015	Jan. 31, 2015
In Millions, except Share data, unless otherwise specified
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	90,000,000	90,000,000
Common stock, issued	12,026,994	11,415,416
Common stock, shares outstanding	12,026,994	11,415,416
Series A Convertible Redeemable Preferred Stock
Par value (in dollars per share)	$0.00	$0.00
Shares authorized	10,000,000	10,000,000
Shares issued	4,207,987	4,207,987
Shares outstanding	4,207,987	4,207,987
Liquidation preference	$8.10

Unaudited_Condensed_Consolidat2

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Apr. 30, 2015	Apr. 30, 2014
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
Revenues, net	$4
Cost of goods sold	9
Gross deficit	-5
Operating expenses:
Research and development	1,076	540
Sales and marketing	1,081	214
General and administrative	1,026	531
Total operating expenses	3,183	1,285
Loss from operations	-3,188	-1,285
Other expense	-436
Interest expense, net		50
Net and comprehensive loss	-3,624	-1,335
Accretion on Series A convertible redeemable preferred stock	-123
Deemed dividend on Series A convertible redeemable preferred stock	-116
Net loss available to common stockholders	($3,863)	($1,335)
Basic and diluted net loss available to common stockholders per share	($0.33)	($0.14)
Shares used in computing basic and diluted net loss per share	11,741,000	9,351,000

Unaudited_Condensed_Consolidat3

Unaudited Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2015	Apr. 30, 2014
Cash flows from operating activities:
Net loss	($3,624)	($1,335)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	300	115
Expense related to modification of warrants	436
Depreciation expense	8	2
Amortization expense	7
Noncash interest expense		25
Changes in assets and liabilities:
Accounts receivable	-5
Inventories	-55
Prepaid expenses and other assets	-896	-265
Accounts payable	1,092	197
Accrued expenses and other liabilities	358	-29
Payroll liabilities	74	34
Related party payables	56	97
Net cash used in operating activities	-2,249	-1,159
Cash flows from investing activities:
Purchases of property and equipment		-9
Net cash used in investing activities		-9
Cash flows from financing activities:
Proceeds from exercise of common stock	11
Net proceeds issuance of convertible redeemable preferred stock and warrants		1,456
Proceeds from exercise of common stock warrants	1,412
Proceeds from issuance of convertible notes payable		280
Net cash provided by financing activities	1,423	1,736
Net (decrease) increase in cash	-826	568
Cash at beginning of period	1,305	360
Cash at end of period	$479	$928

Description_Of_Business_And_Su

Description Of Business And Summary Of Significant Accounting Policies	3 Months Ended
	Apr. 30, 2015
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 at all 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 generated a de minimis amount of revenue from product sales and the Company is not dependent on sales to any one customer. The Company has financed its operations primarily through the sale of equity securities and convertible debt securities from which it raised $11.0 million of net cash from its inception through April 30, 2015.
	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
	These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting and include the accounts of the Company and its subsidiary. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, filed on March 30, 2015, and the Transition Report on Form 10-K for the one-month transition period ended January 31, 2015, filed on April 20, 2015. The condensed consolidated balance sheet as of January 31, 2015, included herein, was derived from the audited consolidated financial statements as of that date.
	The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary and have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the Company’s statement of financial position as of April 30, 2015 and January 31, 2015, and the Company’s results of operations and its cash flows for the three months ended April 30, 2015 and 2014.  The results for the three months ended April 30, 2015 are not necessarily indicative of the results to be expected for the year ending January 31, 2016 or any future period.
	Use of Estimates
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States 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.
	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.
	Advertising Expenses
	The Company expenses the costs of advertising, including promotional expenses, as incurred. Advertising expenses were $235,000 for the three months ended April 30, 2015.  No advertising expenses were incurred for the three months ended April 30, 2014.
	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 and the assumed conversion of convertible notes are determined under the treasury stock method.
	For the three months ended April 30, 2015 and 2014, 9,282,000 and 3,871,000 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.
	Deferred Offering Costs
	Deferred offering costs, which primarily consist of legal, accounting and other regulatory fees relating to a proposed public offering of the Company’s common stock (the “Offering”), are capitalized within prepaid expenses and other current assets. The deferred offering costs will be offset against the Offering proceeds upon the consummation of the Offering. In the event the Offering is terminated, deferred offering costs will be expensed.
	Summary of Significant Accounting Policies
	These unaudited interim condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual financial statements and notes thereto contained in the Annual Report on Form 10-K and the Transition Report on Form 10-K for the one-month transition period ended January 31, 2015. There have been no significant changes in the Company’s significant accounting policies for the three months ended April 30, 2015, as compared to the significant accounting policies described in the Annual Report on Form 10-K and the Transition Report on Form 10-K for the one-month transition period ended January 31, 2015.

Going_Concern_Considerations_a

Going Concern Considerations and Management's Plan	3 Months Ended
	Apr. 30, 2015
Going Concern Considerations and Management's Plan
GOING CONCERN CONSIDERATIONS AND MANAGEMENT'S PLAN	2. GOING CONCERN CONSIDERATIONS AND MANAGEMENT’S PLAN
	The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company has incurred recurring losses and negative cash flows from operations since inception. The Company has generated de minimis revenues and has funded its operating losses through the issuance of convertible notes payable, Series A convertible redeemable preferred stock and warrants.
	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 significant risks and uncertainties described herein could have a significant negative impact on the financial viability of the Company and raise substantial doubt about the Company’s ability to continue as a going concern.  On April 9, 2015, the Company filed a registration statement on Form S-1 pursuant to the Securities Act of 1933, as amended (the “Registration Statement”), with the SEC in connection with the Offering for an aggregate offering amount of up to $20 million. Management is implementing a business model to increase working capital by managing its cash flow, securing financing and increasing revenue related to its first product.
	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 financial statements do not contain any adjustments that might result from the outcome of this uncertainty.
	As shown in the accompanying condensed consolidated financial statements, the Company incurred a net loss of $3.6 million and $1.3 million during the three months ended April 30, 2015 and 2014, respectively, and had an accumulated deficit of $14.3 million as of April 30, 2015. As of April 30, 2015, the Company had a working capital deficit of $1.3 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. The Company is experiencing the following risks and uncertainties in the business:
		·	The discovery of key raw materials to formulate novel products depends on the Company’s ability to identify, negotiate and secure procurement of such materials. This also depends on the Company’s ability to establish comprehensive and long-term vendor contracts and relationships.
		·	The Company’s ability to compete and to achieve its product platform strategy depends on its ability to protect its proprietary discoveries and technologies. The Company currently relies on a combination of copyrights, trademarks, trade secret laws and confidentiality agreements to protect its intellectual property rights. The Company also relies upon unpatented know-how and continuing technological innovation.
		·	The Company’s continued operations are dependent upon its ability to identify, recruit and retain adequate management personnel and contractors to perform certain jobs, such as research and development, patent generation, regulatory affairs and general administrative functions. The Company requires highly trained professionals of varying levels and experience along with a flexible work force.
		·	The Company’s ability to generate income in the short-run will depend greatly on the rate of adoption and ability to establish a market for the Company’s VI2OLET iodine dietary supplement.
		·	Research and development for novel prescription or OTC based products can be very extensive and lengthy in nature, and the clinical trial process with the Food and Drug Administration can require significant funding and time consuming patient studies. The competitive landscape could change significantly over the time period to complete targeted product development milestones. The current competition for the Company’s products could also turn into strategic partners or potential acquirers in the future.

Balance_Sheet_Detail

Balance Sheet Detail	3 Months Ended
	Apr. 30, 2015
Balance Sheet Detail
BALANCE SHEET DETAIL	3.BALANCE SHEET DETAIL
		April 30,		January 31,
		2015		2015
		(in thousands)
	Inventories:
	Work in process	$	80	$	61
	Finished goods	11		63
	Channel inventory	124		36
	Total	$	215	$	160
		April 30,		January 31,
		2015		2015
		(in thousands)
	Prepaid expenses and other current assets:
	Deferred offering costs	$	490	$	57
	Other	182		182
	Total	$	672	$	239
		April 30,		January 31,
		2015		2015
		(in thousands)
	Accrued expenses and other current liabilities:
	Professional service fees	$	209	$	—
	Marketing	72		—
	Deferred revenue	51		6
	Deferred rent	43		49
	Other	42		4
	Total	$	417	$	59

Related_Party_Payables

Related Party Payables	3 Months Ended
	Apr. 30, 2015
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.

Commitments_and_Contigencies

Commitments and Contigencies	3 Months Ended
	Apr. 30, 2015
Commitments and Contingencies.
COMMITMENTS AND CONTINGENCIES	5.COMMITMENTS AND CONTINGENCIES
	Lease Arrangements
	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. Future minimum commitments under this lease are as follows (in thousands):
	Nine months remaining in fiscal year 2016		$	217
	Fiscal year 2017		246
	Total		$	463
	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 LLC, which provides the Company the license the 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.
	Terms of the license include:
		·		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 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, in the year ended December 31, 2013, the amount of $150,000 related to this agreement. As of April 30, 2015 and January 31, 2015, the balance, net of amortization, was $142,000 and $149,000, respectively. No royalties have been paid as of April 30, 2015.

Convertible_Redeemable_Preferr

Convertible Redeemable Preferred Stock and Stockholders' Equity	3 Months Ended
	Apr. 30, 2015
Convertible Redeemable Preferred Stock and Stockholders' Equity
CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY	6.CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY
	Series A Preferred Stock
	The Company entered into subscription agreements for a 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 the Company’s common stock, with an exercise price of $3.70 per share.  Upon achieving an uplisting to the NYSE MKT in connection with the Offering, the Series A preferred stock, along with accrued and unpaid interest payable in stock in lieu of cash, will automatically convert into shares of common stock.
	In March and April 2015, the Company amended certain warrants 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 April 1, 2015, 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.  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 April 30, 2015, warrants to purchase 1,661,055 shares of common stock remain outstanding related to the Series A preferred stock offering.
	In connection with the subscription agreements, the Company, the majority stockholders of the Company and the investors entered into investor rights agreements with the investors, whereby the investors were granted certain rights including: (i) right to receive copies of quarterly and annual reports of the Company, (ii) right of inspection of the Company’s properties and records, (iii) right of participation in future securities offerings, (iv) tag-along rights in connection with sales of the Company’s stock by a major stockholder and (v) board of directors representation rights for the subscribers who purchased at least 500,000 shares of Series A preferred stock and who hold at least 30% of their original holdings, or the Qualified Subscribers. The Company made certain covenants under the agreement including: (i) uplisting to NYSE or NASDAQ within three years from the issuance shares of Series A preferred stock, and (ii) increase of the board of directors to five members including one member to be appointed by the Qualified Subscribers.
	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. The Company also issued a warrant to a qualified investor as a part of his convertible loan package for 343,559 shares of common stock at an exercise price of $1.85 per share, which was valued at $105,000. These warrants expire after five years. These warrants were immediately exercisable, and as of April 30, 2015, were all 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 the 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		Shares		Weighted		Remaining	Aggregate
		for Grant				Average		Contractual	Intrinsic
						Exercise		Term	Value
						Price
									(in thousands)
	Outstanding at January 31, 2015	1,043,000		2,689,252		$	0.91	8.58	$	5,625
	Granted	(365,000	)	365,000		$	3
	Exercised	—		(46,916	)	$	0.24
	Cancelled	254,375		(254,375	)	$	1.47
	Outstanding at April 30, 2015	932,375		2,752,961		$	1.14	7.41	$	5,107
	Vested and exercisable			1,109,670		$	0.51	4.85	$	2,768
	Vested and expected to vest			2,629,418		$	1.11	7.32	$	4,957
	The following table summarizes significant ranges of outstanding and exercisable options as of April 30, 2015:
		Options Outstanding						Options Vested and Exercisable
	Range of Exercise Price	Number		Weighted		Weighted		Number	Weighted
		Outstanding		Average		Average		Vested and	Average
				Remaining		Exercise		Exercisable	Exercise
				Contractual		Price			Price
				Life (in
				Years)
	$0.05 - $0.25	819,419		3.37		$	0.13	606,293	$	0.09
	$0.26 - $1.00	692,542		8.31		$	0.47	320,462	$	0.49
	$1.01 - $3.00	1,241,000		9.59		$	2.19	182,915	$	1.90
		2,752,961		7.41		$	1.14	1,109,670	$	0.51
	The total intrinsic value of employee stock options exercised during the three months ended April 30, 2015 was $126,000.  There were no employee stock options exercised during the three months ended April 30, 2014.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 30, 2015
Stock-Based Compensation
STOCK-BASED COMPENSATION	7. STOCK-BASED COMPENSATION
	The following table summarizes the stock-based compensation expenses included in the unaudited condensed consolidated statement of operations and comprehensive loss (in thousands):
		For the three months
		ended
		April 30,
		2015			2014
	Research and development	$	86		$	34
	Sales and marketing	124			16
	General and administrative	90			65
	Stock-based compensation expense	$	300		$	115
	The Company estimates the fair value of stock options granted using the Black-Scholes pricing model, even though such model was developed to estimate the fair value of freely tradable, fully transferable options without vesting restrictions, which differ significantly from the Company’s stock option awards. This model also requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. 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 April 30, 2015, total compensation costs related to unvested, but not yet recognized, stock-based awards was $2.9 million, net of estimated forfeitures. This cost will be amortized on straight-line basis over a weighted average remaining period of 3.07 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 during the three months ended April 30, 2015 and 2014:
		For the three months ended
		April 30,
		2015		2014
	Expected volatility	82.6%		82.1%
	Expected term in years	6.0		5.52 - 6.08
	Risk-free interest rate	1.62%-1.99%		0.67% - 0.89%
	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.
	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.
	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.

Income_Taxes

Income Taxes	3 Months Ended
	Apr. 30, 2015
Income Taxes.
INCOME TAXES	8.INCOME TAXES
	No federal income taxes were provided in the three months ended April 30, 2015 and 2014 due to the Company’s net losses. The Company evaluates its ability to recover deferred tax assets, in full or in part, by considering all available positive and negative evidence, including past operating results and its forecast of future taxable income on a jurisdictional basis. The Company bases its estimate of current and deferred taxes on the tax laws and rates that are currently in effect in the appropriate jurisdiction. Changes in laws or rates may affect the tax provision as well as the amount of deferred tax assets or liabilities.
	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.
	As of April 30, 2015 and January 31, 2015, the Company has not recorded any liability for unrecognized tax benefits related to uncertain tax positions. The 2010 to 2014 tax years remain open for examination by the federal and state authorities.

Description_Of_Business_And_Su1

Description Of Business And Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2015
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation
	These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting and include the accounts of the Company and its subsidiary. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, filed on March 30, 2015, and the Transition Report on Form 10-K for the one-month transition period ended January 31, 2015, filed on April 20, 2015. The condensed consolidated balance sheet as of January 31, 2015, included herein, was derived from the audited consolidated financial statements as of that date.
	The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary and have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the Company’s statement of financial position as of April 30, 2015 and January 31, 2015, and the Company’s results of operations and its cash flows for the three months ended April 30, 2015 and 2014.  The results for the three months ended April 30, 2015 are not necessarily indicative of the results to be expected for the year ending January 31, 2016 or any future period.
Use of Estimates	Use of Estimates
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States 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.
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.
Advertising Expenses	Advertising Expenses
	The Company expenses the costs of advertising, including promotional expenses, as incurred. Advertising expenses were $235,000 for the three months ended April 30, 2015.  No advertising expenses were incurred for the three months ended April 30, 2014.
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 and the assumed conversion of convertible notes are determined under the treasury stock method.
	For the three months ended April 30, 2015 and 2014, 9,282,000 and 3,871,000 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.
Deferred Offering Costs	Deferred Offering Costs
	Deferred offering costs, which primarily consist of legal, accounting and other regulatory fees relating to a proposed public offering of the Company’s common stock (the “Offering”), are capitalized within prepaid expenses and other current assets. The deferred offering costs will be offset against the Offering proceeds upon the consummation of the Offering. In the event the Offering is terminated, deferred offering costs will be expensed.

Balance_Sheet_Detail_Tables

Balance Sheet Detail (Tables)	3 Months Ended
	Apr. 30, 2015
Balance Sheet Detail
Schedule of Inventories
		April 30,		January 31,
		2015		2015
		(in thousands)
	Inventories:
	Work in process	$	80	$	61
	Finished goods	11		63
	Channel inventory	124		36
	Total	$	215	$	160
Schedule of prepaid expenses and other current assets
		April 30,		January 31,
		2015		2015
		(in thousands)
	Prepaid expenses and other current assets:
	Deferred offering costs	$	490	$	57
	Other	182		182
	Total	$	672	$	239
Schedule accrued expenses and other current liabilities
		April 30,		January 31,
		2015		2015
		(in thousands)
	Accrued expenses and other current liabilities:
	Professional service fees	$	209	$	—
	Marketing	72		—
	Deferred revenue	51		6
	Deferred rent	43		49
	Other	42		4
	Total	$	417	$	59

Commitments_and_Contigencies_T

Commitments and Contigencies (Tables)	3 Months Ended
	Apr. 30, 2015
Commitments and Contingencies.
Future minimum commitments under lease	Future minimum commitments under this lease are as follows (in thousands):
	Nine months remaining in fiscal year 2016	$	217
	Fiscal year 2017	246
	Total	$	463

Convertible_Redeemable_Preferr1

Convertible Redeemable Preferred Stock and Stockholders' Equity (Tables)	3 Months Ended
	Apr. 30, 2015
Convertible Redeemable Preferred Stock and Stockholders' Equity
Stock option plan activity
		Available		Shares		Weighted		Remaining	Aggregate
		for Grant				Average		Contractual	Intrinsic
						Exercise		Term	Value
						Price
									(in thousands)
	Outstanding at January 31, 2015	1,043,000		2,689,252		$	0.91	8.58	$	5,625
	Granted	(365,000	)	365,000		$	3
	Exercised	—		(46,916	)	$	0.24
	Cancelled	254,375		(254,375	)	$	1.47
	Outstanding at April 30, 2015	932,375		2,752,961		$	1.14	7.41	$	5,107
	Vested and exercisable			1,109,670		$	0.51	4.85	$	2,768
	Vested and expected to vest			2,629,418		$	1.11	7.32	$	4,957
Schedule of significant ranges of outstanding and exercisable options	The following table summarizes significant ranges of outstanding and exercisable options as of April 30, 2015:
		Options Outstanding						Options Vested and Exercisable
	Range of Exercise Price	Number		Weighted		Weighted		Number	Weighted
		Outstanding		Average		Average		Vested and	Average
				Remaining		Exercise		Exercisable	Exercise
				Contractual		Price			Price
				Life (in
				Years)
	$0.05 - $0.25	819,419		3.37		$	0.13	606,293	$	0.09
	$0.26 - $1.00	692,542		8.31		$	0.47	320,462	$	0.49
	$1.01 - $3.00	1,241,000		9.59		$	2.19	182,915	$	1.90
		2,752,961		7.41		$	1.14	1,109,670	$	0.51

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 30, 2015
Stock-Based Compensation
Summary of stock based compensation expense
	The following table summarizes the stock-based compensation expenses included in the unaudited condensed consolidated statement of operations and comprehensive loss (in thousands):
		For the three months
		ended
		April 30,
		2015			2014
	Research and development	$	86		$	34
	Sales and marketing	124			16
	General and administrative	90			65
	Stock-based compensation expense	$	300		$	115
Black-Scholes option pricing model fair value assumptions
		For the three months ended
		April 30,
		2015		2014
	Expected volatility	82.6%		82.1%
	Expected term in years	6.0		5.52 - 6.08
	Risk-free interest rate	1.62%-1.99%		0.67% - 0.89%
	Expected dividend yield	—		—

Description_Of_Business_And_Su2

Description Of Business And Summary Of Significant Accounting Policies (Details) (USD $)	3 Months Ended		56 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015
	item		item
Marketing and Advertising Expense
Advertising Expense	$235,000	$0
Net Loss Per Share
Anti dilutive securities excluded from computation of diluted net loss per share	9,282,000	3,871,000
Number of wholly owned subsidiaries	1		1
Proceeds from the sale of equity securities and convertible debt securities			$11,000,000

Going_Concern_Considerations_a1

Going Concern Considerations and Management's Plan (Details) (USD $)	3 Months Ended		0 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 19, 2015	Jan. 31, 2015
Net loss	$3,624,000	$1,335,000
Accumulated deficit	-14,258,000			-10,634,000
Working capital	-1,300,000
Common Stock | Maximum
Aggregate offering amount			$20,000,000

Balance_Sheet_Detail_Details

Balance Sheet Detail (Details) (USD $)	Apr. 30, 2015	Jan. 31, 2015
In Thousands, unless otherwise specified
Inventories:
Work in process	$80	$61
Finished goods	11	63
Channel inventory	124	36
Total	215	160
Prepaid expenses and other current assets:
Deferred offering costs	490	57
Other	182	182
Total	672	239
Accrued expenses and other current liabilities:
Professional service fees	209
Marketing	72
Deferred revenue	51	6
Deferred rent	43	49
Other	42	4
Total	$417	$59

Commitments_and_Contigencies_D

Commitments and Contigencies (Details) (USD $)	Apr. 30, 2015	Aug. 23, 2013
In Thousands, unless otherwise specified	sqft	sqft
Future Minimum Commitments [Abstract]
Leased office and laboratory space	10,800	10,800
Nine months remaining in fiscal year 2016	$217
Fiscal year 2017	246
Total	$463

Commitments_and_Contigencies_D1

Commitments and Contigencies (Details 2)	3 Months Ended
	Apr. 30, 2015
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_Contigencies_D2

Commitments and Contigencies (Details 3) (USD $)	3 Months Ended
	Apr. 30, 2015	Jan. 31, 2015	Dec. 31, 2013
Indefinite-lived Intangible Assets [Line Items]
Net of amortization	$142,000	$149,000
Royalties paid	0
Intellectual Property
Indefinite-lived Intangible Assets [Line Items]
Fees to Iogen capitalized			$150,000

Convertible_Redeemable_Preferr2

Convertible Redeemable Preferred Stock and Stockholders' Equity (Details) (USD $)	3 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended
	Apr. 30, 2015	15-May-14	Dec. 31, 2014	Apr. 01, 2015
Temporary Equity [Line Items]
Proceeds from warrant exercises	$1,412,000
Incremental fair value of warrants	436,000
Series A Warrant | Actual
Temporary Equity [Line Items]
Warrants exercise price	$2.50
Series A Warrant | Previously Reported
Temporary Equity [Line Items]
Warrants exercise price	$3.70
Series A Warrant | Warrant
Temporary Equity [Line Items]
Number of shares of common stock subject to warrant	1,661,055		2,042,589
Warrants exercise price			$3.70
Fair Value Assumptions and Methodology for Assets and Liabilities [Abstract]
Dividend rate	0.00%
Risk-free rate	1.60%
Expected volatility	85.90%
Series A Warrant | Warrant | Minimum
Fair Value Assumptions and Methodology for Assets and Liabilities [Abstract]
Contractual term	4 years
Series A Warrant | Warrant | Maximum
Fair Value Assumptions and Methodology for Assets and Liabilities [Abstract]
Contractual term	5 years
Service Provider Warrant | Warrant
Temporary Equity [Line Items]
Number of shares of common stock subject to warrant		316,395
Warrants exercise price		$2.04
Fair Value Assumptions and Methodology for Assets and Liabilities [Abstract]
Warrant expense		99,000
Convertible Debt Warrant | Warrant
Temporary Equity [Line Items]
Number of shares of common stock subject to warrant	343,559
Warrants exercise price	$1.85
Adjustment to paid-in capital, warrant fair value	105,000
Series A Convertible Redeemable Preferred Stock
Temporary Equity [Line Items]
Price per share			$1.85
Gross proceeds from issuance			7,500,000
Fair Value Assumptions and Methodology for Assets and Liabilities [Abstract]
Number of shares required to obtain Board representation	500,000
Period of time for listing	3 years
Issuance covenant, Required number of Board of Director members	5
Issuance covenant, Number of Board Of Director members appointed by qualified subscribers	1
Series A Convertible Redeemable Preferred Stock | Minimum
Fair Value Assumptions and Methodology for Assets and Liabilities [Abstract]
Percentage of shares outstanding required to obtain Board representation	30.00%
Series A Convertible Redeemable Preferred Stock | Subscription Agreement
Temporary Equity [Line Items]
Number of shares sold			4,207,987
Series A Convertible Redeemable Preferred Stock | Series A Warrant
Temporary Equity [Line Items]
Number of purchasers of stock			47
Common Stock | Series A Warrant
Temporary Equity [Line Items]
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

Convertible_Redeemable_Preferr3

Convertible Redeemable Preferred Stock and Stockholders' Equity (Details 2) (2014 Equity Incentive Plan)	3 Months Ended
	Apr. 30, 2015	Nov. 07, 2014	Jan. 23, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved and available for grant		4,500,000	2,700,000
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Minimum | Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Maximum | Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years

Convertible_Redeemable_Preferr4

Convertible Redeemable Preferred Stock and Stockholders' Equity (Details 3) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Apr. 30, 2015	Jan. 31, 2015
Available
Available for grant, beginning	1,043,000
Available for grant, ending	932,375	1,043,000
Shares
Outstanding, Beginning	2,689,252
Granted	365,000
Exercised	-46,916
Cancelled	-254,375
Outstanding, Ending	2,752,961	2,689,252
Vested and exercisable	1,109,670
Vested and expected to vest	2,629,418
Weighted Average Exercise Price
Outstanding, Beginning	$0.91
Granted	$3
Exercised	$0.24
Canceled	$1.47
Outstanding, Ending	$1.14	$0.91
Vested and exercisable	$0.51
Vested and expected to vest	$1.11
Remaining contractual term
Outstanding	7 years 4 months 28 days	8 years 6 months 29 days
Vested and exercisable	4 years 10 months 6 days
Vested and expected to vest	7 years 3 months 26 days
Aggregate intrinsic value of stock options outstanding and exercisable	$4,957
Share Based Compensation Arrangement by Share Based Payment Award Options Intrinsic Value [Abstract]
Outstanding	5,107	5,625
Vested and exercisable	2,768
Vested and expected to vest	$4,957

Convertible_Redeemable_Preferr5

Convertible Redeemable Preferred Stock and Stockholders' Equity (Details 4) (USD $)	3 Months Ended
	Apr. 30, 2015
Options Outstanding
Number Outstanding (in shares)	2,752,961
Weighted Average Remaining Contract Life	7 years 4 months 28 days
Weighted Average Exercise Prices (in dollars per share)	$1.14
Options Exercisable
Number Exercisable (in shares)	1,109,670
Weighted Average Exercise Price (in dollars per share)	$0.51
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Total intrinsic value of options exercised	$126,000
$0.05 - $0.25
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise prices, low end of range (in dollars per share)	$0.05
Exercise prices, high end of range (in dollars per share)	$0.25
Options Outstanding
Number Outstanding (in shares)	819,419
Weighted Average Remaining Contract Life	3 years 4 months 13 days
Weighted Average Exercise Prices (in dollars per share)	$0.13
Options Exercisable
Number Exercisable (in shares)	606,293
Weighted Average Exercise Price (in dollars per share)	$0.09
$0.26 - $1.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise prices, low end of range (in dollars per share)	$0.26
Exercise prices, high end of range (in dollars per share)	$1
Options Outstanding
Number Outstanding (in shares)	692,542
Weighted Average Remaining Contract Life	8 years 3 months 22 days
Weighted Average Exercise Prices (in dollars per share)	$0.47
Options Exercisable
Number Exercisable (in shares)	320,462
Weighted Average Exercise Price (in dollars per share)	$0.49
$1.01 - $3.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise prices, low end of range (in dollars per share)	$1.01
Exercise prices, high end of range (in dollars per share)	$3
Options Outstanding
Number Outstanding (in shares)	1,241,000
Weighted Average Remaining Contract Life	9 years 7 months 2 days
Weighted Average Exercise Prices (in dollars per share)	$2.19
Options Exercisable
Number Exercisable (in shares)	182,915
Weighted Average Exercise Price (in dollars per share)	$1.90

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Share-based Compensation
Stock-based compensation expense	$300,000	$115,000
Total compensation costs not yet recognized	2,900,000
Average remaining amortization period for recognition of expense	3 years 26 days
Research and Development
Share-based Compensation
Stock-based compensation expense	86,000	34,000
Sales and Marketing
Share-based Compensation
Stock-based compensation expense	124,000	16,000
General and Administrative Expenses
Share-based Compensation
Stock-based compensation expense	$90,000	$65,000

StockBased_Compensation_Detail1

Stock-Based Compensation (Details 2)	3 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	82.60%	82.10%
Expected term in years	6 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term in years		5 years 6 months 7 days
Risk-free interest rate	1.62%	0.67%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term in years		6 years 29 days
Risk-free interest rate	1.99%	0.89%

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Jan. 31, 2015
Income Taxes.
Federal income taxes	$0	$0
Liability for unrecognized tax benefits	$0		$0