Nuwellis (NUWE) 10-K 8 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 01, 2017	Jun. 30, 2016
Document and Entity Information
Entity Registrant Name	Sunshine Heart, Inc.
Entity Central Index Key	1,506,492
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 8,500,000
Entity Common Stock, Shares Outstanding		1,741,745
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 1,323	$ 23,113
Accounts receivable	282
Inventory	677
Other current assets	137	479
Total current assets	2,419	23,592
Property, plant and equipment, net	540	535
Intangible assets, net	4,302
Goodwill	189
Other Assets	21	323
TOTAL ASSETS	7,471	24,450
Current liabilities
Current portion of long-term debt		3,798
Accounts payable and accrued expenses	2,351	2,832
Accrued compensation	909	1,368
Total current liabilities	3,260	7,998
Long-term debt, net of discount and financing fees		3,881
Common stock warrant liability	1,843
Other Liabilities	126	400
Total liabilities	5,229	12,279
Commitments and contingencies
Temporary Stockholders' Equity
Series D convertible preferred stock as of December 31, 2016 and December 31, 2015, par value $0.0001 per share; authorized 900 and 0 shares, respectively, issued and outstanding 700 and 0, respectively	485
Stockholders' equity
Additional paid-in capital	169,496	164,107
Accumulated other comprehensive income:
Foreign currency translation adjustment	1,235	1,246
Accumulated deficit	(168,974)	(153,182)
Total stockholders' equity	1,757	12,171
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	7,471	24,450
Series A Junior Participating Preferred Stock
Stockholders' equity
Preferred stock
Preferred Stock
Stockholders' equity
Preferred stock

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	777,238	611,483
Common stock, shares outstanding	777,238	611,483
Series A Junior Participating Preferred Stock
Preferred Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, shares authorized	30,000	30,000
Preferred Stock, shares outstanding	0	0
Series B1 convertible preferred stock
Preferred Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, shares authorized	1,824.4	0
Preferred Stock, shares issued	1,824.4	0
Preferred Stock, shares outstanding	1,824.4	0
Series C convertible preferred stock
Preferred Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, shares authorized	2,900	0
Preferred Stock, shares issued	2,900	0
Preferred Stock, shares outstanding	2,900	0
Series D convertible preferred stock
Temporary Stock, shares authorized	900	0
Temporary Stock, shares issued	700	0
Temporary Stock, shares outstanding	700	0
Preferred Stock
Preferred Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, shares authorized	39,964,375.6	39,970,000
Preferred Stock, shares outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Consolidated Statements of Operations and Comprehensive Loss
Net sales	$ 1,289	$ 59
Costs and Expenses:
Cost of goods sold	713
Selling, general and administrative	8,129	8,345
Research and development	8,109	17,672
Total costs and expenses	16,951	26,017
Loss from operations	(15,662)	(25,958)
Other income (expense):
Interest expense	(504)	(743)
Loss on early retirement of long-term debt	(500)
Other income (expense), net	2	(6)
Change in fair value of warrant liability	818
Total other income (expense)	(184)	(749)
Loss before income taxes	(15,846)	(26,707)
Income tax benefit, net	54	124
Net loss	$ (15,792)	$ (26,583)
Basic and diluted loss per share (in dollars per share)	$ (27.06)	$ (44.01)
Weighted average shares outstanding - basic and diluted (in shares)	654	604
Other comprehensive income:
Foreign currency translation adjustments	$ (11)	$ (26)
Total comprehensive loss	$ (15,803)	$ (26,609)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid in Capital	Accumulated Other Comprehensive Income	Accumulated Deficit	Total
Balance at Dec. 31, 2014		$ 154,542	$ 1,272	$ (126,599)	$ 29,215
Balance (in shares) at Dec. 31, 2014	566,088
Increase (Decrease) in Shareholders' Equity
Net loss				(26,583)	(26,583)
Foreign currency translation adjustment			(26)		(26)
Stock based compensation, net		2,510			2,510
Stock based compensation (in shares)	3,516
Issuance of common stock, net		7,055			7,055
Issuance of common stock, net (in shares)	41,879
Balance at Dec. 31, 2015		164,107	1,246	(153,182)	$ 12,171
Balance (in shares) at Dec. 31, 2015	611,483				611,483
Increase (Decrease) in Shareholders' Equity
Net loss				(15,792)	$ (15,792)
Foreign currency translation adjustment			(11)		(11)
Stock based compensation, net		949			949
Stock based compensation (in shares)	9,448
Issuance of common stock, net		4,440			4,440
Issuance of common stock for acquisition (in shares)	33,334
Conversion of preferred stock into common stock (in shares)	122,973
Balance at Dec. 31, 2016		$ 169,496	$ 1,235	$ (168,974)	$ 1,757
Balance (in shares) at Dec. 31, 2016	777,238				777,238

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Consolidated Statements of Cash Flows
Net loss	$ (15,792)	$ (26,583)
Adjustments to reconcile net loss to cash flows from operating activities:
Depreciation and amortization	697	325
Stock-based compensation expense, net	949	2,154
Amortization of debt discount and financing fees	187	263
Loss on retirement of long-term debt	500
Change in fair value of warrant liability	(818)
Changes in assets and liabilities:
Accounts receivable	(282)	59
Inventory	(677)
Other current assets	342	(181)
Other assets and liabilities	(464)	(92)
Accounts payable and accrued expenses	(934)	1,066
Net cash used in operations	(16,292)	(22,989)
Investing Activities:
Purchase of property and equipment	(117)	(199)
Purchase of Aquadex product line	(4,000)
Net cash used in investing activities	(4,117)	(199)
Financing Activities:
Net proceeds from the sale of preferred stock, common stock and warrants	6,636	7,055
Proceeds from borrowings on long-term debt		8,000
Repayments of long-term debt	(8,000)
Net cash provided by (used in) financing activities	(1,364)	15,055
Effect of exchange rate changes on cash	(17)	(47)
Net decrease in cash and cash equivalents	(21,790)	(8,180)
Cash and cash equivalents-beginning of period	23,113	31,293
Cash and cash equivalents-end of period	1,323	23,113
Supplemental schedule of non-cash activities
Warrants issued in connection with debt financing		355
Financing fees on debt		400
Common stock issued for business acquisition	950
Supplemental cash flow information
Interest paid on debt borrowings	840	$ 388
Cash paid for income taxes	$ 47

Nature of Business and Signific

Nature of Business and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Nature of Business and Significant Accounting Policies
Nature of Business and Significant Accounting Policies	Note 1—Nature of Business and Significant Accounting Policies Nature of Business Sunshine Heart, Inc. (the “Company”) is an early-stage medical device company focused commercializing the Aquadex FlexFlow® System. The Company’s commercial product, the Aquadex FlexFlow System (Aquadex) is indicated for temporary (up to eight hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy, and extended (longer than 8 hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy and require hospitalization. Sunshine Heart is a Delaware corporation headquartered in Minneapolis with wholly owned subsidiaries in Australia. Ireland and Delaware. The Company has been listed on the NASDAQ Capital Market since February 2012. Prior to July 2016, the Company was focused on developing the C-Pulse® Heart Assist System for treatment of Class III and ambulatory Class IV heart failure. The C-Pulse System utilized the known concept of counterpulsation applied to the aorta. In March 2016, the Company announced that it was no longer enrolling patients into its two clinical studies for the C-Pulse System and that it planned to pursue a new strategic direction. In July 2016, the Company announced that it was moving forward with a therapeutic strategy utilizing neuromodulation rather than counterpulsation. In August 2016, the Company acquired the Aquadex business from a subsidiary of Baxter International, Inc. (“Baxter”), a global leader in the hospital products and dialysis markets. On September 29, 2016, the Company announced a strategic refocus of its near-term strategy that included halting clinical evaluations of its neuromodulation technology to fully focus its resources on its recently acquired Aquadex business, taking actions to reduce its cash burn in connection with such strategic refocus, and reviewing potential strategic alliances and financing alternatives. The Company’s board of directors and stockholders approved a 1-for-30 reverse split of the Company’s outstanding common stock that became effective after trading on January 12, 2017. The reverse stock split did not change the par value of the Company’s stock or the number of common or preferred shares authorized by the Company’s Fourth Amended and Restated Certificate of Incorporation, as amended. All share and per share amounts have been retroactively adjusted to reflect the split for all periods presented. Going Concern The Company’s financial statements have been prepared and presented on a basis assuming it continues as a going concern. During the years ended December 31, 2016 and 2015, the Company incurred losses from operations and net cash outflows from operating activities as disclosed in the consolidated statements of operations and cash flows, respectively. At December 31, 2016, the Company had an accumulated deficit of $169.0 million and it expects to incur losses for the foreseeable future. To date, the Company has been funded by debt and equity financings, and although the Company believes that it will be able to successfully fund its operations, there can be no assurance that it will be able to do so or that it will ever operate profitably. The Company became a revenue generating company after acquiring the Aquadex Business in August 2016. The Company expects to incur additional losses in the near-term as it grows the Aquadex Business, including investments in expanding its sales and marketing capabilities, purchasing inventory, manufacturing components, and complying with the requirements related to being a U.S. public company. To become and remain profitable, the Company must succeed in expanding the adoption and market acceptance of the Aquadex FlexFlow. This will require the Company to succeed in training personnel at hospitals and effectively and efficiently manufacturing, marketing and distributing the Aquadex FlexFlow and related components. There can be no assurance that the Company will succeed in these activities, and it may never generate revenues sufficient to achieve profitability. The Company expects to require additional funding to grow its Aquadex Business in 2017, which may not be available on terms favorable to the Company, or at all. The Company’s ability to continue as a going concern is dependent on the Company’s ability to raise additional capital based on the achievement of commercial milestones. Should future capital raising be unsuccessful, the Company may not be able to continue as a going concern. Furthermore, the ability of the Company to continue as a going concern is subject to the ability of the Company to successfully commercialize its Aquadex products. If the Company is unable to obtain such funding of an amount and timing necessary to meet its future operational plans, or to successfully commercialize its products, the Company may be unable to continue as a going concern. No adjustments have been made relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company not continue as a going concern. Basis of Presentation The accompanying consolidated financial statements include the accounts of Sunshine Heart, Inc. and its wholly owned subsidiaries, Sunshine Heart Company Pty Limited and Sunshine Heart Ireland Limited. All inter-company accounts and transactions between consolidated entities have been eliminated. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and disclosures in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents consist of cash and term deposits with original maturities of three months or less. The carrying value of these instruments approximate fair value. The balances, at times, may exceed federally insured limits. The Company has not experienced any losses on its cash and cash equivalents. Accounts Receivable Accounts receivable are unsecured, are recorded at net realizable value, and do not bear interest. The Company makes judgments as to its ability to collect outstanding receivables based upon significant patterns of uncollectability, historical experience, and managements’ evaluation of specific accounts and will provide an allowance for credit losses when collection becomes doubtful. The Company performs credit evaluations of its customers’ financial condition on an as-needed basis. Payment is generally due 30 days from the invoice date and accounts past 30 days are individually analyzed for collectability. When all collection efforts have been exhausted, the account is written off against the related allowance. To date the Company has not experienced any write-offs or significant deterioration of its accounts receivable aging, and therefore, no allowance for doubtful accounts was considered necessary as of December 31, 2016 or 2015. Inventories Inventories primarily represent finished goods purchased from the Company’s supplier and are recorded as the lower of cost or market using the first-in-first out method. Other Current Assets Other current assets represent prepayments and deposits made by the Company. Property, Plant and Equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is computed based upon the estimated useful lives of the respective assets. Leasehold improvements and capital lease assets are amortized using the straight-line method over the shorter of the lease term or the estimated useful life of the assets. Repairs and maintenance costs are expensed as incurred. The cost and accumulated depreciation of property, plant and equipment retired, or otherwise disposed of are removed from the related accounts, and any residual values are charged to expense. Depreciation expense has been calculated using the following estimated useful lives: Office furniture and equipment 5-15 years Computer software and equipment 3-4 years Laboratory and research equipment 3-15 years Production equipment 3-7 years Leasehold improvements and capital lease asset 3-5 years Depreciation expense and amortization of the capital lease asset was $419,000, and $325,000 for the years ended December 31, 2016, and 2015, respectively. Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If the impairment tests indicate that the carrying value of the asset, or asset group is greater than the expected undiscounted cash flows to be generated by such asset or asset group further analysis is performed to determine the fair value of the asset or asset group. To the extent the fair value of the asset or asset group is less than its carrying value, an impairment loss is recognized equal to the amount the fair value of the asset or asset group exceeds its carrying amount. The Company generally measures fair value by considering sale prices for similar assets or asset groups, or by discounting estimated future cash flows from such assets or asset groups using an appropriate discount rate. Assets to be disposed of are carried at the lower of their carrying value or fair value less costs to sell. Considerable management judgment is necessary to estimate the fair value of assets or asset groups, and accordingly, actual results could vary significantly from such estimates. There have been no impairment losses recognized for the years ended December 31, 2016 or 2015. Other Assets Other assets consisted primarily of deferred financing fees, net of amortization, recorded in connection with the term loan with Silicon Valley Bank. Upon repayment of the term loans, the Company was required to make a final payment to Silicon Valley Bank equal to 5.0% of the original principal amount. As further described in Note 4, this final payment fee was paid to the bank in August 2016 in connection with the repayment of all outstanding borrowings. Intangible assets The Company’s intangible assets consist of customer relationships, developed technology, and trademarks and tradenames. All intangible assets recognized by the Company result from the acquisition of the Aquadex business. All intangible assets are estimated to have a useful life of 5-7 years. The Company reviews its definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable through the estimated undiscounted future cash flows derived from such assets. In cases where the carrying value exceeds the undiscounted cash flows, the carrying value is written down to its fair value, using a discounted cash flow analysis. No impairments have been identified or recorded in 2016. Amortization expense was $278,000 and $0 for the years ended December 31, 2016 and 2015, respectively. Goodwill Goodwill is the cost of an acquisition in excess of the fair value of acquired assets and liabilities and is recorded as an asset on the balance sheet. Goodwill is not subject to amortization but must be tested for impairment at least annually. This test requires the Company to determine if the implied fair value of the goodwill is less than its carrying amount. The Company evaluates goodwill for impairment annually on November 1 st of each calendar year, or to the extent events or conditions indicate a risk of possible impairment during the interim periods prior to its annual impairment test. Generally, the evaluation of goodwill for impairment involves a two-step test, although under certain circumstance an initial qualitative evaluation may be sufficient to conclude that goodwill is not impaired without conducting the quantitative test. Step 1 involves comparing the estimated fair value of each respective reporting unit to its carrying value, including goodwill. The Company has one reporting unit. If the estimated fair value exceeds the carrying value, the reporting unit’s goodwill is not considered impaired. If the carrying value exceeds the estimated fair value, step 2 must be performed to determine whether goodwill is impaired and, if so, the amount of the impairment. Step 2 involves calculating an implied fair value of goodwill by performing a hypothetical allocation of the estimated fair value of the reporting unit determined in step 1 to the respective tangible and intangible net assets of the reporting unit. The remaining implied goodwill is then compared to the actual carrying amount of the goodwill for the reporting unit. To the extent the carrying amount of goodwill exceeds the implied goodwill, the difference is the amount of the goodwill impairment. No impairments have been identified or recorded in 2016. Contingent consideration In connection with the Company’s purchase of the Aquadex Business, the Company has an obligation to pay additional consideration that is contingent upon the occurrence of certain future events. Contingent consideration is recognized at the acquisition date at the estimated fair value of the contingent milestone payments. The fair value of the contingent consideration is remeasured to its estimated fair value at the end of each reporting period, with changes recorded to earnings. Common stock warrant liability The Company records its common stock warrant liability at fair value at the date of issuance using primarily a Monte Carlo valuation model. The fair value is remeasured to its estimated fair value at the end of each reporting period with changes recorded to earnings. Revenue Recognition The Company recognizes revenues from product sales when earned. Specifically, revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable, and collectability is reasonably assured. Revenue is not recognized until title and risk of loss have transferred to the customer. The shipping terms for the Company’s revenue arrangements are FOB shipping point. Foreign Currency Translation Sales and expenses denominated in foreign currencies are translated at average exchange rates in effect throughout the year. Assets and liabilities of foreign operations are translated at period-end exchange rates with the impacts of foreign currency translation recognized to cumulative translation adjustment, a component of accumulated other comprehensive income . Foreign currency transactions gains and losses are included in other expense, net in the consolidated statements of operations and other comprehensive loss. Stock-Based Compensation The Company recognizes all share-based payments to employees and directors, including grants of stock options, restricted stock units (RSUs) and common stock awards in the income statement as an operating expense, based on their fair value. The Company’s stock awards use a graded vesting schedule. The Company recognizes the option expense over the requisite service period, which is generally the vesting period. The Company computes the estimated fair values of stock options and certain of its warrants using the Black-Scholes option pricing model. The closing market price of the Company’s common stock at the date of grant is used to calculate the fair value of restricted stock units and common stock awards. Stock-based compensation expense is based on awards ultimately expected to vest and is reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Equity instruments issued to non-employees include RSUs, warrants or options to purchase shares of the Company’s common stock. These RSUs, warrants or options are either fully-vested and exercisable at the date of grant or vest over a certain period during which services are provided. The Company expenses the fair market value of fully vested awards at the time of grant, and of unvested awards over the period in which the related services are received. Unvested awards are remeasured to fair value until they vest. See Note 6 for further information regarding the assumptions used to calculate the fair value of share-based compensation. Income Taxes Deferred income taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards. Deferred tax liabilities are recognized for taxable temporary differences, which are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Earnings per share Basic earnings per share is computed based on the net loss allocable to common stockholders for each period divided by the weighted average number of common shares outstanding. The net loss allocable to common stockholders for 2016 reflects a $1.9 million increase for the net deemed dividend to preferred shareholders provided in connection with the 2016 Series B and B-1 offering (see Note 5). Diluted earnings per share is computed based on the net loss allocable to common stockholders for each period divided by the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued, and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include warrants, stock options and other stock-based awards granted under stock-based compensation plans. The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share because to do so would be anti-dilutive as of the end of each period presented: December 31, 2016 2015 Stock options Restricted stock units Warrants to purchase common stock Series B, C and D convertible preferred stock — Total Research and Development Research and development expenses consist primarily of development personnel and non-employee contractor costs incurred in connection with the discontinued C-Pulse System clinical studies, and of enhancement of existing products and services, quality assurance and testing incurred in connection with the recently acquired Aquadex Business. Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (FASB) issued amended guidance concerning debt issuance costs in relation to a recognized debt liability to require it be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for the Company’s interim and annual reporting periods beginning January 1, 2016. In connection with the adoption of this standard, the Company reclassified $120,000 of debt issuance costs that were previously reported as current assets and other assets on the December 31, 2015 balance sheet, to an offset to current and long-term debt. In May 2014, August 2015, March 2016, April 2016 and May 2016, the FASB issued amended revenue recognition guidance to clarify the principles for recognizing revenue from contracts with customers. The guidance requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. The guidance also requires expanded disclosures relating to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. Additionally, qualitative and quantitative disclosures are required about customer contracts, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The standard allows the Company to transition to the new model using either a full or modified retrospective approach, and early adoption is not permitted. This guidance will be effective for the Company’s interim and annual periods beginning January 1, 2018. The Company is currently evaluating the impact that this standard will have on its business practices, financial condition, results of operations and disclosures. In August 2014, the FASB amended guidance relating to the presentation and disclosure of the uncertainties of an entity’s ability to continue as a going concern. This guidance explicitly requires management of a company to evaluate whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosure in certain circumstances. This guidance was effective for the Company’s annual reporting period ending on December 31, 2016, and annual and interim periods thereafter. The adoption of this standard did not have a material impact on the Company’s going concern evaluations or disclosures. In November 2015, the FASB issued amended guidance concerning the classification of deferred taxes on the balance sheet to require that deferred tax assets and deferred tax liabilities be presented as noncurrent in a classified balance sheet. The amendment is effective for our annual and interim reporting periods beginning January 1, 2017, with early adoption permitted. The adoption of this standard will not have an impact on the Company’s consolidated financial statements as all deferred tax assets are fully reserved. In February 2016, the FASB issued updated guidance to improve financial reporting about leasing transactions. This guidance will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. This guidance is effective for the Company’s annual reporting period ending December 31, 2020, and for annual and interim periods thereafter. The Company is evaluating the impact that the adoption of this standard will have, if any, on its financial statements and disclosures. The Company evaluates events through the date the financial statements are filed for events requiring adjustment to or disclosure in the financial statements.

Aquadex Acquisition

Aquadex Acquisition	12 Months Ended
	Dec. 31, 2016
Aquadex Acquisition
Aquadex Acquisition	Note 2 — Aquadex Acquisition On August 5, 2016, the Company completed the acquisition of certain assets used in the production and sale of the Aquadex product line from Baxter. The acquisition of these assets meets the criteria for the purchase of a business, and has been accounted for in accordance with Accounting Standards Codification (ASC) 805, Business Combinations , with identifiable assets acquired and liabilities assumed recorded at their estimated fair values on the acquisition date. A valuation of the assets and liabilities from the business acquisition was performed utilizing cost, income and market approaches resulting in $5.1 million allocated to identifiable net assets. In connection with the acquisition of the Aquadex Business, the Company entered into a manufacturing and supply agreement with Baxter whereby Baxter will manufacture and supply all of the Company’s finished goods for a period of up to 18 months from the close of the transaction. During the year ended December 31, 2016, the Company recorded $1.2 million of revenue from the sale of Aquadex products. The Company completed the acquisition in order to strengthen its presence in the heart failure market. Purchase Consideration: Total purchase consideration for the Aquadex business is as follows: (in thousands) Cash consideration $ Common stock consideration Fair value of contingent consideration Total purchase consideration $ · Common Stock Consideration: The common stock consideration consisted of 33,334 shares of the Company’s common stock, worth $0.95 million based on the closing market value of $0.95 per share on August 5, 2016. · Contingent Consideration: In connection with the acquisition of the Aquadex product line, the Company agreed to pay the Seller 40% of any proceeds in excess of $4.0 million related to the sale or disposal of the Aquadex assets within three years of the close of the transaction. The fair value of this contingent consideration was calculated based on the estimated likelihood of occurrence of this event in the timeframe provided by the agreement. Purchase price consideration does not include expenses of $0.9 million for accounting, audit, legal, and valuation services that were incurred as part of the transaction and were expensed as incurred as general and administrative expense in the accompanying statement of operations. The acquisition was recorded by recognizing the assets acquired at their estimated fair value at the acquisition date. The excess of the cost of the acquisition over the fair value of the assets acquired was recorded as goodwill. The fair values were based on management’s analysis, including work performed by third-party valuation specialists. The following presents the amounts recognized for the assets acquired on August 5, 2016 (in thousands): Capital lease asset $ Intangible assets Total identifiable assets acquired Goodwill Total purchase consideration $ The goodwill is primarily attributable to new and/or future customer relationships that were not acquired in the transaction. All recorded goodwill is expected to be deductible for tax purposes. The fair value of the capital lease asset utilized a combination of the cost and market approaches, depending on the characteristics of the asset classification. Pro Forma Condensed Combined Financial Information (Unaudited) The following unaudited pro forma combined financial information summarizes the results of operations for the periods indicated as if the acquisition of Aquadex had been completed on of January 1, 2015. Pro forma information reflects adjustments that are expected to have a continuing impact on our results of operations and are directly attributable to the acquisition. The unaudited pro forma results include adjustments to reflect, among other things, direct transaction costs relating to the acquisition, the difference in intangible asset amortization to be incurred based on the preliminary values of each identifiable intangible asset, and the difference in depreciation expense to be incurred based on preliminary value of the capital lease asset. The pro forma amounts do not purport to be indicative of the results that would have actually been obtained if the acquisition had occurred as of January 1, 2015 or that may be obtained in the future, and do not reflect future synergies, integration costs, or other such costs or savings. Twelve Months Ended December 31, $ in thousands, except per share amounts 2016 2015 Pro forma net sales $ $ Pro forma net loss from operations ) ) Pro forma basic and diluted net loss per share $ ) $ )

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment
Property, Plant and Equipment	Note 3—Property, Plant and Equipment Property, plant and equipment were as follows: (Dollars in thousands) December 31, 2016 December 31, 2015 Office Furniture & Fixtures $ $ Leasehold Improvements Software Production Equipment Computer Equipment Capital Lease Asset — Total Accumulated Depreciation ) ) $ $

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2016
Intangible Assets
Intangible Assets	Note 4—Intangible Assets Intangible assets were as follows: (Dollars in thousands) December 31, 2016 December 31, 2015 Customer Relationships $ $ — Developed Technology — Trade Names and Trademarks — Total — Accumulated Depreciation ) — $ $ — Future amortization expense for intangible assets is as follows: (Dollars in thousands) Year 1 $ Year 2 Year 3 Year 4 Year 5 Thereafter $

Debt

Debt	12 Months Ended
	Dec. 31, 2016
Debt
Debt	Note 5—Debt Prior Loan Agreement : On February 18, 2015, the Company entered into a loan and security agreement with Silicon Valley Bank (the Bank) for proceeds of up to $10.0 million at an annual interest rate of 7.0%. Under this agreement, a $6.0 million term loan was funded at closing and an additional term loan in the amount of $2.0 million was funded on June 26, 2015. The proceeds from the term loans were used for general corporate and working capital purposes. Commencing on January 1, 2016, the Company began repaying the advances made in twenty-four consecutive equal monthly installments. On August 4, 2016, the Company repaid all amounts outstanding under its existing debt facility of $5.5 million, and incurred a $0.5 million loss on early extinguishment of debt, including the accelerated write-off of unamortized warrants and debt issuance costs. Total borrowings outstanding under this agreement totaled $8.0 million as of December 31, 2015. There were no borrowings outstanding under this facility as of December 31, 2016. Warrants: In connection with funding of the first term loan for $6.0 million, the Company issued 2,300 warrants at an exercise price of $156.6 per share to the Bank and one of its affiliates. The Company valued these warrants at $115.8 per share utilizing the Black Scholes valuation model and the following assumptions: an expected dividend yield of 0%, an expected stock price volatility of 88.07%, a risk-free interest rate of 1.86%, and an expected life of 6.25 years. In connection with the funding of the second term loan for $2.0 million, the Company issued 1,087 warrants at an exercise price of $110.40 per share to Silicon Valley Bank and one of its affiliates. The Company valued these warrants at $81.30 per share utilizing the Black Scholes valuation model and the following assumptions: an expected dividend yield of 0%, an expected stock price volatility of 87.04%, a risk-free interest rate of 2.20%, and an expected life of 6.25 years. All warrants have a life of ten years and were fully vested at the date of grant. The value of these warrants were recorded as debt discount in the accompanying balance sheet and were amortized to interest expense over the term of the debt agreement using the effective interest rate method. As of December 31, 2015, $201,000 of unamortized debt discount was netted against long-term debt in the accompanying condensed consolidated balance sheet. In connection with the repayment of the debt on August 4, 2016, the Company wrote off the remaining unamortized value of the warrants totaling $113,000. New Loan Agreement: On August 5, 2016, the Company entered into a new loan and security agreement with the Bank (the “New Loan Agreement”). Under the New Loan Agreement, the Bank agreed to provide the Company with up to $5.0 million in debt financing, consisting of a term loan in an aggregate original principal amount not to exceed $4.0 million (the “Term Loan”) and a revolving line of credit in an aggregate principal amount not to exceed $1.0 million outstanding at any time (the “Revolving Line”; together with the Term Loan, the “Loans”). Proceeds from the Loans were to be used for general corporate and working capital purposes. Advances under the Term Loan were available to the Company until November 30, 2016 and were subject to the Company’s compliance with liquidity covenants. The Term Loan expired unused on November 30, 2016. Advances under the Revolving Line are available to the Company until March 31, 2020 and accrue interest at a floating annual rate equal to 1.75% or 1.0% above the prime rate, depending on liquidity factors. Outstanding borrowings, if any, are collateralized by all of the Company’s assets, excluding intellectual property which is subject to a negative pledge. There were no borrowings outstanding under this facility as of December 31, 2016.

Shareholder's Equity

Shareholder's Equity	12 Months Ended
	Dec. 31, 2016
Shareholder's Equity
Shareholder's Equity	Note 6—Shareholder’s Equity Series B/B-1 Convertible Preferred Stock : On July 20, 2016, the Company entered into a securities purchase agreement with an institutional investor for an offering of shares of convertible preferred stock and warrants with gross proceeds of approximately $3.5 million in a registered direct offering. The transaction closed on July 26, 2016, and the Company issued 3,468 shares of Series B Convertible Preferred Stock. The Series B Convertible Preferred Stock is non-voting and was convertible into a total of 122,979 shares of common stock at the holder’s election at any time at a conversion price of $28.2 per share. Approximately $1.6 million of the proceeds were allocated to the preferred stock, representing the residual proceeds after the warrants (described below) were recorded at fair value. On October 30, 2016, the Company entered into an exchange agreement with the holders of its Series B Convertible Preferred Stock and agreed to issue such holders 2,227.2 shares of the Company’s Series B-1 Convertible Preferred Stock in exchange for the cancellation of all shares of Series B Convertible Preferred Stock held by such holders. The Series B-1 Convertible Preferred Stock has similar terms as the Series B Convertible Preferred Stock, except that the initial conversion price of the Series B-1 Convertible Preferred Stock is $5.10 per share. Prior to the October 30, 2016 exchange, 1,240.8 of the Series B Convertible Preferred stock had been converted into 44,000 shares of common stock. As of December 31, 2016, 402.8 shares of the Series B-1 Convertible Preferred Stock had been converted into 78,973 shares of common stock, and 1,824.4 shares of Series B-1 remained outstanding. The Series B and B-1 convertible preferred stock include a net deemed dividend in the amount of $1.9 million, representing the intrinsic value of the shares at the time of issuance, which is reflected as an increase to the loss per share allocable to common shareholders. Series C and D Convertible Preferred Stock : Also, on October 30, 2016, the Company entered into securities purchase agreements with an institutional investor for shares of convertible preferred stock and warrants with an aggregate purchase price of $3.8 million in a registered direct offering and simultaneous private placement. The first closing of the transaction occurred on November 3, 2016, whereby the Company received $3.6 million in gross proceeds and issued and sold 2,900 shares of Series C Convertible Preferred Stock, and 700 shares of Series D Convertible Preferred Stock, both at $5.10 per share. At the second closing, which was subject to the Company receiving shareholder approval of the transactions, the Company expected to issue and sell 200 shares of Series D Convertible Preferred Stock convertible into 39,216 shares of common stock at $5.10 per share and warrants to purchase an additional 39,216 shares of common stock at $5.40 per share for a gross purchase price of $0.2 million. The Series C and D convertible preferred stock includes a contingent beneficial conversion amount of $1.3 million and $0.3 million, respectively, representing the intrinsic value of the shares at the time of issuance. This amount will be reflected as an increase to the loss per share allocable to common shareholders in the first quarter of 2017 when the contingency for the conversion was resolved with the shareholder approval allowing for the conversion of the preferred stock into common stock. As of December 31, 2016, no shares of the Series C or D convertible preferred stock had been converted into common stock, and all remained outstanding. The Series D Convertible Preferred Stock with a carrying value of $0.5 million is classified as temporary equity in the consolidated balance sheet because the Company cannot control that it will settle its redemption in common stock, but it is not remeasured to fair value each period through earnings because the events that could trigger its redemption are not probable of occurrence. In connection with these transactions, the Company paid the placement agent an aggregate cash placement fee equal to 6% of the aggregate gross proceeds raised in the offering and issued the warrants described below. Investor Warrants : In connection with the issuance of the Series B Convertible Preferred Stock in July 2016, the Company issued the investor warrants to purchase 122,979 shares of common stock at an exercise price of $ 28.2 per share at no additional cost. The warrants are exercisable for 36 months commencing six months from the closing date and are subject to a reduction of the exercise price if the Company subsequently issues common stock or equivalents at an effective price less than the current exercise price of such warrants. Concurrently with the closing of the Series C and D Convertible Preferred Stock and warrant financing on November 3, 2016, the exercise price for these warrants was adjusted to $5.10 per share. In connection with the issuance of the Series C and D Convertible Preferred Stock in November 2016, the Company issued the investor warrants to purchase 705,884 shares of common stock at an exercise price of $5.40 per share at no additional cost. The warrants are exercisable for 60 months commencing on the day that is the later of the receipt of approval of the Company’s stockholders of a proposal to approve the issuance of the shares of common stock underlying the warrants or the six-month anniversary of the date of issuance. The warrants are subject to a reduction of the exercise price if the Company subsequently issues common stock or equivalents at an effective price less than the current exercise price of such warrants. Placement Agent Warrant: In connection with the issuance of the Series B Convertible Preferred Stock, the Company issued 7,379 warrants to the placement agent to purchase shares of common at an exercise price of $40.50 per share. In connection with the issuance of the Series C and D Convertible Preferred Stock, the Company issued 42,353 warrants to the placement agent to purchase shares of common stock at an exercise price of $6.38 per share. These warrants were issued at no additional cost, were exercisable immediately and expire five years from the closing of the offerings. These warrants do not contain repricing provisions. Both the investor and placement agent warrants are accounted for as liabilities and were recorded at fair value on the date of issuance. These warrants must be measured and recorded at fair value for each subsequent reporting period that the warrants remain outstanding, and any changes in fair value must be recognized in the statement of operations. The change in fair value of these warrants since their issuance was $0.8 million and was reflected as an unrealized gain in the accompanying statement of operations. Transaction Costs: The Company incurred approximately $0.9 million of cash and non-cash transaction costs which were allocated to the preferred stock and investor warrants on a relative fair value basis. The $0.6 million allocated to the preferred stock was recorded as a reduction of additional paid-in-capital, while the $0.3 million allocated to the investor warrants was expensed as incurred. ATM Sales: In March 2014, the Company entered into a sales agreement with Cowen and Company LLC to sell from time to time, in “at the market” offerings, shares of its common stock having an aggregate offering price of up to $40.0 million. There were no issuances of common stock under this facility in the twelve months ended December 31, 2016. During the twelve months ended December 31, 2015, the Company sold 41,879 shares of common stock for net proceeds of $7.1 million after stock issuance costs of $0.2 million. As of December 31, 2016, the Company had a total of $32.6 million available for future sales under the sales agreement.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2016
Stock-Based Compensation
Stock-Based Compensation	Note 7— Stock-Based Compensation Stock Options and Restricted Stock Awards The Company has various share-based compensation plans, including the Amended and Restated 2002 Stock Plan, the Second Amended and Restated 2011 Equity Incentive Plan, the 2013 Non-Employee Directors’ Equity Incentive Plan and the New-Hire Equity Incentive Plan (collectively, the “Plans” ). The Plans are designed to assist in attracting, motivating and retaining employees and directors and to recognize the importance of employees to the long-term performance and success of the Company. The Company has also granted stock options to certain non-employees outside of the Plans. The Company recognized share-based compensation expense related to grants of stock options, RSUs and common stock awards to employees, directors and consultants of $1.0 million, and $2.4 million during the years ended December 31, 2016 and 2015, respectively. The following table summarizes the stock-based compensation expense which was recognized in the consolidated statements of operations for the years ended December 31, (Dollars in thousands) 2016 2015 Selling, general and administrative $ $ Research and development Total $ $ The majority of the RSUs and options to purchase common stock vest on the anniversary of the date of grant, which ranges from one to four years. Share-based compensation expense related to these awards is recognized on a straight-line basis over the related vesting term in most cases, which generally is the service period. It is the Company’s policy to issue new shares upon the exercise of options. Stock Options : The following is a summary of the Plans’ stock option activity during the years ended December 31: 2016 2015 Options Weighted Options Weighted Beginning Balance $ $ Granted Exercised — — — — Forfeited/expired ) ) Outstanding at December 31 $ $ Vested at December 31 $ $ For options outstanding and vested at December 31, 2016, the weighted average remaining contractual life was 7.58 years and 7.38 years, respectively. There were no option exercises in 2016 or 2015. The total fair value of options that vested in 2016 and 2015 was $1.1 million, and $1.9 million, respectively, at the fair value of the options as of the date of grant. Valuation Assumptions : The fair value of each stock option is estimated at the grant date using the Black-Scholes option pricing model. The fair value of stock options under the Black-Scholes model requires management to make assumptions regarding projected employee stock option exercise behaviors, risk-free interest rates, volatility of the Company’s stock price, and expected dividends. The Company has not historically paid cash dividends to its stockholders, and currently does not anticipate paying any cash dividends in the foreseeable future. As a result, the Company has assumed a dividend yield of 0%. The risk free interest rate is based upon the rates of U.S. Treasury bills with a term that approximates the expected life of the option. Since the Company has limited historical exercise data to reasonably estimate the expected life of its option awards, the expected life is calculated using a simplified method. Expected volatility is based on historical volatility of the Company’s stock. The following table provides the assumptions used in the Black-Scholes model for the years ended December 31: 2016 2015 Expected dividend yield % % Risk-free interest rate % % Expected volatility % % Expected life (in years) The weighted-average fair value of stock options granted in 2016 and 2015 was $27.17 and $117.05, respectively. As of December 31, 2016, the total compensation cost related to all non-vested stock option awards not yet recognized was $1.2 million and is expected to be recognized over the remaining weighted-average period of 2.5 years. Restricted Stock Awards : The following table summarizes restricted stock award activity during 2016 and 2015: 2016 2015 RSUs Weighted RSUs Weighted Nonvested, beginning balance $ $ Granted Vested ) ) Forfeited ) ) Nonvested at December 31 $ $ During 2016, and 2015, employees tendered restricted stock units totaling 3,333, and 2,190, respectively, to cover related payroll tax withholdings. Warrants Warrants to purchase 885,601, and 9,930 shares of common stock were outstanding at December 31, 2016 and 2015, respectively. As of December 31, 2016, warrants outstanding were exercisable at prices ranging from $5.10 to $210.00 per share, and are exercisable over a period ranging from eight months to 8.5 years.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2016
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note 8 - Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, warrants, contingent consideration and debt. Pursuant to the requirements of ASC Topic 820 “Fair Value Measurement,” the Company’s financial assets and liabilities measured at fair value on a recurring basis are classified and disclosed in one of the following three categories: · Level 1 - Financial instruments with unadjusted quoted prices listed on active market exchanges. · Level 2 - Financial instruments lacking unadjusted, quoted prices from active market exchanges, including over the counter traded financial instruments. The prices for the financial instruments are determined using prices for recently traded financial instruments with similar underlying terms as well as directly or indirectly observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. · Level 3 - Financial instruments that are not actively traded on a market exchange. This category includes situations where there is little, if any, market activity for the financial instrument. The prices are determined using significant unobservable inputs or valuation techniques. The fair value of the Company’s common stock warrant liability related to the investor warrants is calculated using a Monte Carlo valuation model and is classified as Level 3 in the fair value hierarchy. The common stock warrants issued July 26, 2016 had a fair value of $1.8 million on the date of issuance and $0.2 million on December 31, 2016. The common stock warrants issued November 3, 2016 had a fair value of $0.8 million on the date of issuance and $1.5 million on December 31, 2016. The fair value of the Company’s common stock warrant liability related to the placement agent warrants is calculated using a Black Scholes valuation model and is classified as Level 3 in the fair value hierarchy. Fair values were calculated using the following assumptions: July 26, 2016 Nov. 3, 2016 Dec. 31, 2016 Risk-free interest rates, adjusted for continuous compounding % % 1.47%/1.96 % Term (years) 3.1/5.3 Expected volatility % % 55.3%/49.8 % Dates and probability of future equity raises various various various A significant change in the inputs used for the Monte Carlo and Black Scholes valuation models such as the expected volatility, bond yield of equivalent securities, or probability of future equity financings, in isolation, would result in significantly higher or lower fair value measurements. In combination, changes in these inputs could result in a significantly higher or lower fair value measurement if the input changes were to be aligned, or could result in a minimally higher or lower fair value measurement if the input changes were of a compensating nature. During the twelve months ended December 31, 2016, the Company recognized unrealized gains of $0.8 million in the condensed consolidated statements of operations from changes in fair value of the warrant liability. The fair value of the Company’s contingent consideration, as described in Note 2, was initially measured based on the consideration expected to be transferred (probability-weighted), discounted back to present value, and it is considered a Level 3 instrument. The discount rate used was determined at the time of measurement in accordance with accepted valuation methods. The Company measures the liability on a recurring basis using Level 3 inputs including probabilities of payment and projected payment dates. Changes to any of the inputs may result in significantly higher or lower fair value measurements. There were no changes in the fair value of the contingent consideration subsequent to the initial measurement. All cash equivalents are considered Level 1 measurements for all periods presented. The Company does not have any financial instruments classified as Level 2 or any other classified as Level 3 and there were no movements between these categories during the periods ended December 31, 2016 and 2015. The Company believes that the carrying amounts of all remaining financial instruments approximate their fair value due to their relatively short maturities.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Taxes
Income Taxes	Note 9—Income Taxes Domestic and foreign loss before income taxes, consists of the following for the years ended December 31: (Dollars in thousands) 2016 2015 Domestic $ ) $ ) Foreign ) Loss before income taxes $ ) $ ) The components of income tax benefit consist of the following for the years ended December 31: (Dollars in thousands) 2016 2015 Current: United States and state $ — $ — Foreign, net Deferred: United States and state — — Foreign — — Total income tax benefit $ $ Actual income tax benefit differs from statutory federal income tax benefit as follows for the years ended December 31: (Dollars in thousands) 2016 2015 Statutory federal income tax benefit $ $ State tax benefit, net of federal taxes Foreign tax R&D tax credit Nondeductible/nontaxable items ) ) Other ) ) Valuation allowance increase ) ) Total income tax benefit $ $ Deferred taxes consist of the following as of December 31: (Dollars in thousands) 2016 2015 Deferred tax assets: Current: Accrued leave $ $ Other accrued expenses Total current deferred tax asset Noncurrent: Stock based compensation Net operating loss carryforward Deferred rent Other R&D credit carryforward Total noncurrent deferred tax assets Total deferred tax assets $ $ Deferred tax liabilities: Current: $ — $ — Noncurrent: Fixed assets — — Total deferred tax liabilities $ — $ — Net deferred tax asset Less: valuation allowance ) ) Total $ — $ — As of December 31, 2016, the Company had net operating loss (“NOLs”) carryforwards of approximately $110.0 million for U.S. federal income tax purposes, which expire between 2024 and 2034, and NOLs in the Commonwealth of Australia of approximately AU$49.0 million which the Company can carry forward indefinitely. U.S. NOLs cannot be used to offset taxable income in foreign jurisdictions. In addition, future utilization of NOL carryforwards in the U.S. may be subject to certain limitations under Section 382 of the Internal Revenue Code. The Company received $80,000 and $135,000 fully refundable research and development tax credits in 2016 and 2015, respectively, related to qualified research and development expenditures of its Australian subsidiary for its tax years ended June 30, 2015 and 2014, respectively, and recorded the benefit in the year that the refund was received. The Company has not completed its Australian tax return for its Australian subsidiaries tax year ended June 30, 2016. As the Company cannot be reasonably assured of the amount or eligibility of the refundable research and development credit resulting from its 2016 Australian research and development activities, the Company has not reflected the related estimated benefit. The Company provides for a valuation allowance when it is more likely than not that it will not realize a portion of the deferred tax assets. The Company has established a valuation allowance for U.S. and foreign deferred tax assets due to the uncertainty that enough taxable income will be generated in those taxing jurisdictions to utilize the assets. Therefore, the Company has not reflected any benefit of such deferred tax assets in the accompanying financial statements. For the years ended December 31, 2016 and 2015, the valuation allowance increased by $5.8 million and $7.5 million, respectively. The accounting guidance related to uncertain tax positions prescribes a recognition threshold and measurement attribute for recognition and measurement of a tax position taken or expected to be taken in a tax return. It also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company had no material uncertain tax positions as of December 31, 2016 or 2015. The Company recognizes interest and penalties on unrecognized tax benefits as well as interest received from favorable tax settlements within income tax expense. At December 31, 2016 and 2015, the Company recorded no accrued interest or penalties related to uncertain tax positions. The tax years ended December 31, 2013 through December 31, 2016 remain open to examination by the Internal Revenue Service and for the various states where we are subject to taxation. Additionally, the returns of the Company’s Australian and Irish subsidiary are subject to examination by tax authorities of those jurisdictions for the tax years ended and subsequent to June 30, 2012 and December 31, 2014, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies.
Commitments and Contingencies	Note 10—Commitments and Contingencies Leases The Company leases office space under a non-cancelable operating lease that expires in March 2019. The lease contains provisions for future annual inflationary adjustments. Rent expense is recognized using the straight-line method over the term of the lease. The Company leases office equipment under non-cancelable operating leases that expire at various times through February 2019. Rent expense related to operating leases was approximately $286,000, and $261,000 for the years ended December 31, 2016 and 2015, respectively. Future minimum lease payments under non-cancelable operating leases as of December 31, 2016, were approximately $207,000, $203,000, $51,000, $0, and $0 for each of the years ended December 31, 2017, through 2021, respectively. Employee Retirement Plan The Company has a 401(k) profit sharing plan that provides retirement benefit to substantially all full-time U.S. employees. Eligible employees may contribute a percentage of their annual compensation, subject to IRS limitations, with the Company matching a portion of the employee’s contributions at the discretion of the Company. Matching contributions totaled $122,000 and $147,000 for the years ended December 31, 2016 and 2015, respectively. Inventory Purchase Commitments In connection with the acquisition of the Aquadex product line, the Company entered into a manufacturing and supply agreement with Baxter that will expire within a period not to exceed 18 months from the close of the transaction. Upon termination of this agreement, the Company has an obligation to purchase from Baxter the remaining Aquadex inventory. The Company estimates that any remaining inventory will consists mainly of raw materials to be purchased at cost, and that this amount will not exceed $2.5 million. Contingent Consideration As described on Note 2, the Company agreed that if it disposes of any of the Aquadex assets for a price that exceeds $4.0 million within three years of the closing, it will pay Baxter 40% of the amount of such excess. In addition, it also agreed that if shares of its common stock cease to be publicly traded on the Nasdaq Capital Market, Baxter has the option to require the Company to repurchase, in cash, all or any part of the common shares held by Baxter at a price equal to their fair market value, as determined by a third-party appraiser.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2016
Segment and Geographic Information
Segment and Geographic Information	Note 11—Segment and Geographic Information The Company has one reportable segment, cardiac and coronary disease products. At December 31, 2016, long-lived assets were located primarily in the United States.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events
Subsequent Events	Note 12—Subsequent Events Reverse Stock Split At a special meeting of the Company’s stockholders on January 9, 2017, stockholders approved, among other things, a reverse stock split, and following such special meeting, the Company’s Board of Directors approved a 1-for-30 reverse split of our issued and outstanding shares of common stock. The Company’s common stock began trading on a split-adjusted basis on The Nasdaq Capital Market on January 13, 2017. The reverse stock split did not change the par value of our stock or the authorized number of common or preferred shares. All share and per share amounts in this document have been retroactively adjusted to reflect the reverse stock split for all periods presented. Second Closing of Series D Convertible Preferred Stock On January 10, 2017, the Company consummated the second closing contemplated by the securities purchase agreement dated October 30, 2016, which was subject to the Company receiving stockholder approval of the transactions, and issued and sold 200 shares of Series D Convertible Preferred Stock convertible into 39,216 shares of common stock at $5.10 per share and warrants to purchase an additional 39,216 shares of common stock at $5.40 per share for a gross purchase price of $0.2 million. The Company paid the placement agent an aggregate cash placement fee equal to 6% of the aggregate gross proceeds and issued the placement agent warrants to purchase 2,353 shares of common stock. The investor and placement agent warrants have the same terms as the placement agent warrants issued on November 3, 2016, as described in Note 5 herein. Warrant Exercise Agreement On February 15, 2017, the Company entered into a letter agreement with the institutional investors (“the Investors”) that hold the majority of its outstanding warrants, to incent the cash exercise of these warrants on or before March 31, 2017 (the “Exercise Period”). These warrants, if exercised in full, would yield gross proceeds of approximately $4.65 million to the Company. In exchange for any such exercise, the Company agreed to provide the Investors a replacement warrant (the “Replacement Warrants”) to purchase the same number of shares of common stock as were issued upon exercise of the exercised warrants, with an exercise price equal to the consolidated closing bid price of its common stock on the date of issuance. The agreement also amends the definition of “Beneficial Ownership Limitation” in the existing warrants to mean, solely for purposes of any exercises of warrants that occur during the Exercise Period, “9.99%” and amends the Initial Exercise Date of the existing warrants issued on November 3, 2016 and January 11, 2017 so that such warrants are exercisable on or after the receipt of stockholder approval. Since such stockholder approval was received on January 9, 2017, such warrants were immediately exercisable as of the date of the agreement. The Replacement Warrants will be in the same form as the exercised warrants except the exercise price will not be subject to reduction for subsequent equity and will not allow the Investor to demand that we purchase the Replacement Warrants in the event of a fundamental transaction involving the Company. The fair value of the replacement warrants in excess of the fair value of existing warrants at the time of exercise, if any, will be expensed at the time of issuance in 2017. Concurrent with the signing of the agreement, the Investors exercised 104,419 warrants for cash proceeds of approximately $564,000.

Nature of Business and Signif19

Nature of Business and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Nature of Business and Significant Accounting Policies
Nature of Business	Nature of Business Sunshine Heart, Inc. (the “Company”) is an early-stage medical device company focused commercializing the Aquadex FlexFlow® System. The Company’s commercial product, the Aquadex FlexFlow System (Aquadex) is indicated for temporary (up to eight hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy, and extended (longer than 8 hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy and require hospitalization. Sunshine Heart is a Delaware corporation headquartered in Minneapolis with wholly owned subsidiaries in Australia. Ireland and Delaware. The Company has been listed on the NASDAQ Capital Market since February 2012. Prior to July 2016, the Company was focused on developing the C-Pulse® Heart Assist System for treatment of Class III and ambulatory Class IV heart failure. The C-Pulse System utilized the known concept of counterpulsation applied to the aorta. In March 2016, the Company announced that it was no longer enrolling patients into its two clinical studies for the C-Pulse System and that it planned to pursue a new strategic direction. In July 2016, the Company announced that it was moving forward with a therapeutic strategy utilizing neuromodulation rather than counterpulsation. In August 2016, the Company acquired the Aquadex business from a subsidiary of Baxter International, Inc. (“Baxter”), a global leader in the hospital products and dialysis markets. On September 29, 2016, the Company announced a strategic refocus of its near-term strategy that included halting clinical evaluations of its neuromodulation technology to fully focus its resources on its recently acquired Aquadex business, taking actions to reduce its cash burn in connection with such strategic refocus, and reviewing potential strategic alliances and financing alternatives. The Company’s board of directors and stockholders approved a 1-for-30 reverse split of the Company’s outstanding common stock that became effective after trading on January 12, 2017. The reverse stock split did not change the par value of the Company’s stock or the number of common or preferred shares authorized by the Company’s Fourth Amended and Restated Certificate of Incorporation, as amended. All share and per share amounts have been retroactively adjusted to reflect the split for all periods presented.
Going Concern	Going Concern The Company’s financial statements have been prepared and presented on a basis assuming it continues as a going concern. During the years ended December 31, 2016 and 2015, the Company incurred losses from operations and net cash outflows from operating activities as disclosed in the consolidated statements of operations and cash flows, respectively. At December 31, 2016, the Company had an accumulated deficit of $169.0 million and it expects to incur losses for the foreseeable future. To date, the Company has been funded by debt and equity financings, and although the Company believes that it will be able to successfully fund its operations, there can be no assurance that it will be able to do so or that it will ever operate profitably. The Company became a revenue generating company after acquiring the Aquadex Business in August 2016. The Company expects to incur additional losses in the near-term as it grows the Aquadex Business, including investments in expanding its sales and marketing capabilities, purchasing inventory, manufacturing components, and complying with the requirements related to being a U.S. public company. To become and remain profitable, the Company must succeed in expanding the adoption and market acceptance of the Aquadex FlexFlow. This will require the Company to succeed in training personnel at hospitals and effectively and efficiently manufacturing, marketing and distributing the Aquadex FlexFlow and related components. There can be no assurance that the Company will succeed in these activities, and it may never generate revenues sufficient to achieve profitability. The Company expects to require additional funding to grow its Aquadex Business in 2017, which may not be available on terms favorable to the Company, or at all. The Company’s ability to continue as a going concern is dependent on the Company’s ability to raise additional capital based on the achievement of commercial milestones. Should future capital raising be unsuccessful, the Company may not be able to continue as a going concern. Furthermore, the ability of the Company to continue as a going concern is subject to the ability of the Company to successfully commercialize its Aquadex products. If the Company is unable to obtain such funding of an amount and timing necessary to meet its future operational plans, or to successfully commercialize its products, the Company may be unable to continue as a going concern. No adjustments have been made relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company not continue as a going concern.
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements include the accounts of Sunshine Heart, Inc. and its wholly owned subsidiaries, Sunshine Heart Company Pty Limited and Sunshine Heart Ireland Limited. All inter-company accounts and transactions between consolidated entities have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and disclosures in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash and term deposits with original maturities of three months or less. The carrying value of these instruments approximate fair value. The balances, at times, may exceed federally insured limits. The Company has not experienced any losses on its cash and cash equivalents.
Accounts Receivable	Accounts Receivable Accounts receivable are unsecured, are recorded at net realizable value, and do not bear interest. The Company makes judgments as to its ability to collect outstanding receivables based upon significant patterns of uncollectability, historical experience, and managements’ evaluation of specific accounts and will provide an allowance for credit losses when collection becomes doubtful. The Company performs credit evaluations of its customers’ financial condition on an as-needed basis. Payment is generally due 30 days from the invoice date and accounts past 30 days are individually analyzed for collectability. When all collection efforts have been exhausted, the account is written off against the related allowance. To date the Company has not experienced any write-offs or significant deterioration of its accounts receivable aging, and therefore, no allowance for doubtful accounts was considered necessary as of December 31, 2016 or 2015.
Inventories	Inventories Inventories primarily represent finished goods purchased from the Company’s supplier and are recorded as the lower of cost or market using the first-in-first out method.
Other Current Assets	Other Current Assets Other current assets represent prepayments and deposits made by the Company.
Property, Plant and Equipment	Property, Plant and Equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is computed based upon the estimated useful lives of the respective assets. Leasehold improvements and capital lease assets are amortized using the straight-line method over the shorter of the lease term or the estimated useful life of the assets. Repairs and maintenance costs are expensed as incurred. The cost and accumulated depreciation of property, plant and equipment retired, or otherwise disposed of are removed from the related accounts, and any residual values are charged to expense. Depreciation expense has been calculated using the following estimated useful lives: Office furniture and equipment 5-15 years Computer software and equipment 3-4 years Laboratory and research equipment 3-15 years Production equipment 3-7 years Leasehold improvements and capital lease asset 3-5 years Depreciation expense and amortization of the capital lease asset was $419,000, and $325,000 for the years ended December 31, 2016, and 2015, respectively. Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If the impairment tests indicate that the carrying value of the asset, or asset group is greater than the expected undiscounted cash flows to be generated by such asset or asset group further analysis is performed to determine the fair value of the asset or asset group. To the extent the fair value of the asset or asset group is less than its carrying value, an impairment loss is recognized equal to the amount the fair value of the asset or asset group exceeds its carrying amount. The Company generally measures fair value by considering sale prices for similar assets or asset groups, or by discounting estimated future cash flows from such assets or asset groups using an appropriate discount rate. Assets to be disposed of are carried at the lower of their carrying value or fair value less costs to sell. Considerable management judgment is necessary to estimate the fair value of assets or asset groups, and accordingly, actual results could vary significantly from such estimates. There have been no impairment losses recognized for the years ended December 31, 2016 or 2015.
Other Assets	Other Assets Other assets consisted primarily of deferred financing fees, net of amortization, recorded in connection with the term loan with Silicon Valley Bank. Upon repayment of the term loans, the Company was required to make a final payment to Silicon Valley Bank equal to 5.0% of the original principal amount. As further described in Note 4, this final payment fee was paid to the bank in August 2016 in connection with the repayment of all outstanding borrowings.
Intangible assets	Intangible assets The Company’s intangible assets consist of customer relationships, developed technology, and trademarks and tradenames. All intangible assets recognized by the Company result from the acquisition of the Aquadex business. All intangible assets are estimated to have a useful life of 5-7 years. The Company reviews its definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable through the estimated undiscounted future cash flows derived from such assets. In cases where the carrying value exceeds the undiscounted cash flows, the carrying value is written down to its fair value, using a discounted cash flow analysis. No impairments have been identified or recorded in 2016. Amortization expense was $278,000 and $0 for the years ended December 31, 2016 and 2015, respectively.
Goodwill	Goodwill Goodwill is the cost of an acquisition in excess of the fair value of acquired assets and liabilities and is recorded as an asset on the balance sheet. Goodwill is not subject to amortization but must be tested for impairment at least annually. This test requires the Company to determine if the implied fair value of the goodwill is less than its carrying amount. The Company evaluates goodwill for impairment annually on November 1 st of each calendar year, or to the extent events or conditions indicate a risk of possible impairment during the interim periods prior to its annual impairment test. Generally, the evaluation of goodwill for impairment involves a two-step test, although under certain circumstance an initial qualitative evaluation may be sufficient to conclude that goodwill is not impaired without conducting the quantitative test. Step 1 involves comparing the estimated fair value of each respective reporting unit to its carrying value, including goodwill. The Company has one reporting unit. If the estimated fair value exceeds the carrying value, the reporting unit’s goodwill is not considered impaired. If the carrying value exceeds the estimated fair value, step 2 must be performed to determine whether goodwill is impaired and, if so, the amount of the impairment. Step 2 involves calculating an implied fair value of goodwill by performing a hypothetical allocation of the estimated fair value of the reporting unit determined in step 1 to the respective tangible and intangible net assets of the reporting unit. The remaining implied goodwill is then compared to the actual carrying amount of the goodwill for the reporting unit. To the extent the carrying amount of goodwill exceeds the implied goodwill, the difference is the amount of the goodwill impairment. No impairments have been identified or recorded in 2016.
Contingent consideration	Contingent consideration In connection with the Company’s purchase of the Aquadex Business, the Company has an obligation to pay additional consideration that is contingent upon the occurrence of certain future events. Contingent consideration is recognized at the acquisition date at the estimated fair value of the contingent milestone payments. The fair value of the contingent consideration is remeasured to its estimated fair value at the end of each reporting period, with changes recorded to earnings.
Common stock warrant liability	Common stock warrant liability The Company records its common stock warrant liability at fair value at the date of issuance using primarily a Monte Carlo valuation model. The fair value is remeasured to its estimated fair value at the end of each reporting period with changes recorded to earnings.
Revenue Recognition	Revenue Recognition The Company recognizes revenues from product sales when earned. Specifically, revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable, and collectability is reasonably assured. Revenue is not recognized until title and risk of loss have transferred to the customer. The shipping terms for the Company’s revenue arrangements are FOB shipping point.
Foreign Currency Translation	Foreign Currency Translation Sales and expenses denominated in foreign currencies are translated at average exchange rates in effect throughout the year. Assets and liabilities of foreign operations are translated at period-end exchange rates with the impacts of foreign currency translation recognized to cumulative translation adjustment, a component of accumulated other comprehensive income . Foreign currency transactions gains and losses are included in other expense, net in the consolidated statements of operations and other comprehensive loss.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes all share-based payments to employees and directors, including grants of stock options, restricted stock units (RSUs) and common stock awards in the income statement as an operating expense, based on their fair value. The Company’s stock awards use a graded vesting schedule. The Company recognizes the option expense over the requisite service period, which is generally the vesting period. The Company computes the estimated fair values of stock options and certain of its warrants using the Black-Scholes option pricing model. The closing market price of the Company’s common stock at the date of grant is used to calculate the fair value of restricted stock units and common stock awards. Stock-based compensation expense is based on awards ultimately expected to vest and is reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Equity instruments issued to non-employees include RSUs, warrants or options to purchase shares of the Company’s common stock. These RSUs, warrants or options are either fully-vested and exercisable at the date of grant or vest over a certain period during which services are provided. The Company expenses the fair market value of fully vested awards at the time of grant, and of unvested awards over the period in which the related services are received. Unvested awards are remeasured to fair value until they vest. See Note 6 for further information regarding the assumptions used to calculate the fair value of share-based compensation.
Income Taxes	Income Taxes Deferred income taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards. Deferred tax liabilities are recognized for taxable temporary differences, which are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Earnings per share	Earnings per share Basic earnings per share is computed based on the net loss allocable to common stockholders for each period divided by the weighted average number of common shares outstanding. The net loss allocable to common stockholders for 2016 reflects a $1.9 million increase for the net deemed dividend to preferred shareholders provided in connection with the 2016 Series B and B-1 offering (see Note 5). Diluted earnings per share is computed based on the net loss allocable to common stockholders for each period divided by the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued, and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include warrants, stock options and other stock-based awards granted under stock-based compensation plans. The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share because to do so would be anti-dilutive as of the end of each period presented: December 31, 2016 2015 Stock options Restricted stock units Warrants to purchase common stock Series B, C and D convertible preferred stock — Total
Research and Development	Research and Development Research and development expenses consist primarily of development personnel and non-employee contractor costs incurred in connection with the discontinued C-Pulse System clinical studies, and of enhancement of existing products and services, quality assurance and testing incurred in connection with the recently acquired Aquadex Business.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (FASB) issued amended guidance concerning debt issuance costs in relation to a recognized debt liability to require it be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for the Company’s interim and annual reporting periods beginning January 1, 2016. In connection with the adoption of this standard, the Company reclassified $120,000 of debt issuance costs that were previously reported as current assets and other assets on the December 31, 2015 balance sheet, to an offset to current and long-term debt. In May 2014, August 2015, March 2016, April 2016 and May 2016, the FASB issued amended revenue recognition guidance to clarify the principles for recognizing revenue from contracts with customers. The guidance requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. The guidance also requires expanded disclosures relating to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. Additionally, qualitative and quantitative disclosures are required about customer contracts, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The standard allows the Company to transition to the new model using either a full or modified retrospective approach, and early adoption is not permitted. This guidance will be effective for the Company’s interim and annual periods beginning January 1, 2018. The Company is currently evaluating the impact that this standard will have on its business practices, financial condition, results of operations and disclosures. In August 2014, the FASB amended guidance relating to the presentation and disclosure of the uncertainties of an entity’s ability to continue as a going concern. This guidance explicitly requires management of a company to evaluate whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosure in certain circumstances. This guidance was effective for the Company’s annual reporting period ending on December 31, 2016, and annual and interim periods thereafter. The adoption of this standard did not have a material impact on the Company’s going concern evaluations or disclosures. In November 2015, the FASB issued amended guidance concerning the classification of deferred taxes on the balance sheet to require that deferred tax assets and deferred tax liabilities be presented as noncurrent in a classified balance sheet. The amendment is effective for our annual and interim reporting periods beginning January 1, 2017, with early adoption permitted. The adoption of this standard will not have an impact on the Company’s consolidated financial statements as all deferred tax assets are fully reserved. In February 2016, the FASB issued updated guidance to improve financial reporting about leasing transactions. This guidance will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. This guidance is effective for the Company’s annual reporting period ending December 31, 2020, and for annual and interim periods thereafter. The Company is evaluating the impact that the adoption of this standard will have, if any, on its financial statements and disclosures. The Company evaluates events through the date the financial statements are filed for events requiring adjustment to or disclosure in the financial statements.

Nature of Business and Signif20

Nature of Business and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Nature of Business and Significant Accounting Policies
Schedule of estimated useful lives	Office furniture and equipment 5-15 years Computer software and equipment 3-4 years Laboratory and research equipment 3-15 years Production equipment 3-7 years Leasehold improvements and capital lease asset 3-5 years
Schedule of the potential shares of common stock that are not included in the calculation of diluted net loss per share because to do so would be anti-dilutive	December 31, 2016 2015 Stock options Restricted stock units Warrants to purchase common stock Series B, C and D convertible preferred stock — Total

Aquadex Acquisition (Tables)

Aquadex Acquisition (Tables)	12 Months Ended
	Dec. 31, 2016
Aquadex Acquisition
Schedule of total purchase consideration for the Aquadex business	(in thousands) Cash consideration $ Common stock consideration Fair value of contingent consideration Total purchase consideration $
Schedule of provisional amounts recognized for the assets acquired	The following presents the amounts recognized for the assets acquired on August 5, 2016 (in thousands): Capital lease asset $ Intangible assets Total identifiable assets acquired Goodwill Total purchase consideration $
Schedule of pro forma amounts	Twelve Months Ended December 31, $ in thousands, except per share amounts 2016 2015 Pro forma net sales $ $ Pro forma net loss from operations ) ) Pro forma basic and diluted net loss per share $ ) $ )

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment
Schedule of property, plant and equipment	(Dollars in thousands) December 31, 2016 December 31, 2015 Office Furniture & Fixtures $ $ Leasehold Improvements Software Production Equipment Computer Equipment Capital Lease Asset — Total Accumulated Depreciation ) ) $ $

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Intangible Assets
Schedule of intangible assets	(Dollars in thousands) December 31, 2016 December 31, 2015 Customer Relationships $ $ — Developed Technology — Trade Names and Trademarks — Total — Accumulated Depreciation ) — $ $ —
Schedule of future amortization expense for intangible assets	(Dollars in thousands) Year 1 $ Year 2 Year 3 Year 4 Year 5 Thereafter $

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Stock-Based Compensation
Summary of classification of stock-based compensation expense	(Dollars in thousands) 2016 2015 Selling, general and administrative $ $ Research and development Total $ $
Summary of the Plan and non-Plan stock option activity	2016 2015 Options Weighted Options Weighted Beginning Balance $ $ Granted Exercised — — — — Forfeited/expired ) ) Outstanding at December 31 $ $ Vested at December 31 $ $
Schedule of weighted-average assumptions used in calculating the fair value of options granted	2016 2015 Expected dividend yield % % Risk-free interest rate % % Expected volatility % % Expected life (in years)
Summary of restricted stock award activity	2016 2015 RSUs Weighted RSUs Weighted Nonvested, beginning balance $ $ Granted Vested ) ) Forfeited ) ) Nonvested at December 31 $ $

Fair Value of Financial Instr25

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value of Financial Instruments
Schedule of fair value assumptions used in calculation of the Monte Carlo Simulation model	July 26, 2016 Nov. 3, 2016 Dec. 31, 2016 Risk-free interest rates, adjusted for continuous compounding % % 1.47%/1.96 % Term (years) 3.1/5.3 Expected volatility % % 55.3%/49.8 % Dates and probability of future equity raises various various various

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes
Schedule of domestic and foreign loss before income tax	(Dollars in thousands) 2016 2015 Domestic $ ) $ ) Foreign ) Loss before income taxes $ ) $ )
Schedule of components of income tax benefit	(Dollars in thousands) 2016 2015 Current: United States and state $ — $ — Foreign, net Deferred: United States and state — — Foreign — — Total income tax benefit $ $
Summary showing actual income tax benefit differing from statutory federal income tax benefit	(Dollars in thousands) 2016 2015 Statutory federal income tax benefit $ $ State tax benefit, net of federal taxes Foreign tax R&D tax credit Nondeductible/nontaxable items ) ) Other ) ) Valuation allowance increase ) ) Total income tax benefit $ $
Schedule of components of deferred taxes	(Dollars in thousands) 2016 2015 Deferred tax assets: Current: Accrued leave $ $ Other accrued expenses Total current deferred tax asset Noncurrent: Stock based compensation Net operating loss carryforward Deferred rent Other R&D credit carryforward Total noncurrent deferred tax assets Total deferred tax assets $ $ Deferred tax liabilities: Current: $ — $ — Noncurrent: Fixed assets — — Total deferred tax liabilities $ — $ — Net deferred tax asset Less: valuation allowance ) ) Total $ — $ —

Nature of Business and Signif27

Nature of Business and Significant Accounting Policies - (Details) $ in Thousands	Jan. 12, 2017	Mar. 31, 2016item	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Nature of Business
Number of studies no longer enrolling patients | item		2
Going Concern
Retained Earnings (Accumulated Deficit)			$ (168,974)	$ (153,182)
Accounts Receivable
Period of payment due from the invoice date			30 days
Allowance for doubtful accounts			$ 0	$ 0
Subsequent event
Nature of Business
Reverse stock split ratio	0.0333

Nature of Business and Signif28

Nature of Business and Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2016USD ($)itemshares	Dec. 31, 2015USD ($)shares
Property, plant and equipment
Depreciation expense and amortization of the capital lease asset	$ 419,000	$ 325,000
Impairment losses recognized	0	0
Intangible assets and Goodwill
Amortization expense	$ 278,000	$ 0
Number of reporting units | item	1
Earnings per share
Potential shares of common stock that are not included in the calculation of diluted net loss per share | shares	2,047,442	76,743
Series B and B-1 Convertible Preferred Stock
Earnings per share
Net deemed dividend to preferred shareholders	$ 1,900,000
Prior Loan Agreement
Other Assets
Payment percentage of principal amount	5.00%
Minimum
Intangible assets and Goodwill
Useful life (in years)	5 years
Maximum
Intangible assets and Goodwill
Useful life (in years)	7 years
Accounting Standards update April 2015
Recent Accounting Pronouncements
Unamortized debt issuance costs (assets)		$ 120,000
Unamortized debt issuance costs (liability)		$ (120,000)
Stock Options
Earnings per share
Potential shares of common stock that are not included in the calculation of diluted net loss per share | shares	87,870	66,435
Restricted stock units
Earnings per share
Potential shares of common stock that are not included in the calculation of diluted net loss per share | shares	10,356	378
Warrants to purchase common stock
Earnings per share
Potential shares of common stock that are not included in the calculation of diluted net loss per share | shares	885,601	9,930
Series B, C and D convertible preferred stock
Earnings per share
Potential shares of common stock that are not included in the calculation of diluted net loss per share | shares	1,063,615
Office Furniture & Fixtures | Minimum
Property, plant and equipment
Estimated useful lives	5 years
Office Furniture & Fixtures | Maximum
Property, plant and equipment
Estimated useful lives	15 years
Computer Equipment | Minimum
Property, plant and equipment
Estimated useful lives	3 years
Computer Equipment | Maximum
Property, plant and equipment
Estimated useful lives	4 years
Laboratory and research equipment | Minimum
Property, plant and equipment
Estimated useful lives	3 years
Laboratory and research equipment | Maximum
Property, plant and equipment
Estimated useful lives	15 years
Production Equipment | Minimum
Property, plant and equipment
Estimated useful lives	3 years
Production Equipment | Maximum
Property, plant and equipment
Estimated useful lives	7 years
Leasehold improvements and capital lease asset | Minimum
Property, plant and equipment
Estimated useful lives	3 years
Leasehold improvements and capital lease asset | Maximum
Property, plant and equipment
Estimated useful lives	5 years

Aquadex Acquisition - (Details)

Aquadex Acquisition - (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 05, 2016	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition
Revenue from the sale of Aquadex products		$ 1,289	$ 59
Provisional amounts recognized for assets acquired
Goodwill		189
Aquadex product line
Business Acquisition
Agreement term (in months)	18 months
Revenue from the sale of Aquadex products		1,200
Cash consideration	$ 4,000
Common stock consideration	950
Fair value of contingent consideration	126
Total purchase consideration	$ 5,076
Contingent Consideration
Common stock issued in acquisition (in shares)	33,334
Closing Market Value (price per share)	$ 0.95
Additional payments on disposes of business assets (as a percent)	40.00%
Limit on disposes of business assets	$ 4,000
Maximum period on disposes of business assets (in years)	3 years
Accounting, audit, legal and valuation services	$ 900
Provisional amounts recognized for assets acquired
Capital lease asset	307
Intangible assets	4,580
Total identifiable assets acquired	4,887
Goodwill	189
Total purchase consideration	$ 5,076
Pro Forma Condensed Combined Financial Information
Pro forma net sales		3,160	4,225
Pro forma net loss from operations		$ (15,340)	$ (39,836)
Pro forma basic net loss per share		$ (23.93)	$ (65.95)
Pro forma diluted net loss per share		$ (23.93)	$ (65.95)

Property, Plant and Equipment30

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment
Total	$ 2,069	$ 1,645
Accumulated Depreciation	(1,529)	(1,110)
Property, plant and equipment, net	540	535
Office Furniture & Fixtures
Property, Plant and Equipment
Total	280	269
Leasehold Improvements
Property, Plant and Equipment
Total	145	145
Software
Property, Plant and Equipment
Total	124	121
Production Equipment
Property, Plant and Equipment
Total	968	837
Computer Equipment
Property, Plant and Equipment
Total	245	$ 273
Capital Lease Asset
Property, Plant and Equipment
Total	$ 307

Intangible Assets (Details)

Intangible Assets (Details) $ in Thousands	Dec. 31, 2016USD ($)
Intangible Assets
Total	$ 4,580
Accumulated Depreciation	(278)
Intangible assets, net	4,302
Future amortization expense for intangible assets
Year 1	654
Year 2	654
Year 3	654
Year 4	654
Year 5	654
Thereafter	1,032
Total	4,302
Customer Relationships
Intangible Assets
Total	3,090
Developed Technology
Intangible Assets
Total	1,050
Trade Names and Trademarks
Intangible Assets
Total	$ 440

Debt (Details)

Debt (Details)	Aug. 05, 2016USD ($)	Aug. 04, 2015USD ($)	Jun. 26, 2015USD ($)item$ / sharesshares	Feb. 18, 2015USD ($)item$ / sharesshares	Dec. 31, 2016USD ($)installment$ / shares	Dec. 31, 2015USD ($)	Nov. 03, 2016$ / shares	Jul. 26, 2016$ / shares
Debt Disclosure
Proceeds from loan						$ 8,000,000
Loss on early retirement of long-term debt					$ (500,000)
Final payment liability of term loan						400,000
Warrants to purchase common stock
Debt Disclosure
Exercise price of warrants (in dollars per share) | $ / shares							$ 5.40	$ 28.2
Prior Loan Agreement
Debt Disclosure
Proceeds from loan			$ 2,000,000	$ 6,000,000
Fixed interest rate				7.00%
Consecutive equal monthly installments | installment					24
Outstanding Principle		$ 5,500,000
Loss on early retirement of long-term debt		$ (500,000)
Payment percentage of principal amount					5.00%
Total borrowings outstanding					$ 0	8,000,000
Prior Loan Agreement | Warrants to purchase common stock
Debt Disclosure
Warrants issued | shares			1,087	2,300
Exercise price of warrants (in dollars per share) | $ / shares			$ 110.40	$ 156.60
Number of bank affiliates | item			1	1
Value of warrants (in dollars per share) | $ / shares			$ 81.30	$ 115.80
Expected dividend yield			0.00%	0.00%
Expected stock price volatility			87.04%	88.07%
Risk-free interest rate			2.20%	1.86%
Expected warrant option life			6 years 3 months	6 years 3 months
Term of warrants			10 years	10 years
Unamortized debt discount						$ 201,000
Write off unamortized value					113,000
New Loan Agreement
Debt Disclosure
Maximum borrowing capacity	$ 5,000,000
New Loan Agreement | Revolving Line
Debt Disclosure
Maximum borrowing capacity	1,000,000
Total borrowings outstanding					$ 0
New Loan Agreement | Term Loan
Debt Disclosure
Maximum borrowing capacity	$ 4,000,000
Maximum | Warrants to purchase common stock
Debt Disclosure
Exercise price of warrants (in dollars per share) | $ / shares					$ 210
Maximum | Prior Loan Agreement
Debt Disclosure
Proceeds from loan				$ 10,000,000
Maximum | New Loan Agreement | Revolving Line | Prime rate
Debt Disclosure
Interest rate (as a percent)	1.75%
Minimum | Warrants to purchase common stock
Debt Disclosure
Exercise price of warrants (in dollars per share) | $ / shares					$ 5.10
Minimum | New Loan Agreement | Revolving Line | Prime rate
Debt Disclosure
Interest rate (as a percent)	1.00%

Shareholder's Equity (Details)

Shareholder's Equity (Details)	Dec. 31, 2016USD ($)$ / sharesshares	Nov. 03, 2016USD ($)$ / sharesshares	Oct. 30, 2016USD ($)$ / sharesshares	Jul. 26, 2016USD ($)$ / sharesshares	Mar. 31, 2014USD ($)	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)shares
Equity
Convertible preferred stock carrying value	$ 485,000					$ 485,000
Common stock warrants fair value							$ 355,000
Change in fair value of warrant liability						(818,000)
Transaction costs	900,000					900,000
Securities purchase agreement
Equity
Proceeds from issuance of convertible preferred stock		$ 3,600,000	$ 3,800,000
Additional Paid in Capital
Equity
Transaction costs	600,000					600,000
Warrants to purchase common stock
Equity
Percentage of placement fee offered in cash				6
Warrants issued (in shares) | shares		705,884		122,979
Exercise price of warrants (in dollars per share) | $ / shares		$ 5.40		$ 28.2
Warrants become exercisable period		6 months		6 months
Period range, exercisable		60 months		36 months
Warrant/Stock issuance costs		$ 0		$ 0
Transaction costs	$ 300,000					$ 300,000
Warrants to purchase common stock | Securities purchase agreement
Equity
Warrants issued (in shares) | shares		39,216
Exercise price of warrants (in dollars per share) | $ / shares		$ 5.40
Cowen
Equity
Aggregate offering price of shares of common stock					$ 40,000,000
Common stock sold (in shares) | shares						0	41,879
Proceeds, net of transaction costs							$ 7,100,000
Warrant/Stock issuance costs							$ 200,000
Value of common stock available for future sale						$ 32,600,000
Placement Agent
Equity
Warrants issued (in shares) | shares		42,353		7,379
Exercise price of warrants (in dollars per share) | $ / shares		$ 6.38		$ 40.50
Period range, exercisable		5 years		5 years
Warrant/Stock issuance costs		$ 0		$ 0
Maximum | Warrants to purchase common stock
Equity
Exercise price of warrants (in dollars per share) | $ / shares	$ 210					$ 210
Period range, exercisable						8 years 6 months
Series B convertible preferred stock
Equity
Proceeds from issuance of convertible preferred stock				$ 3,500,000
Convertible preferred stock issued (in shares) | shares				3,468
Number of common shares by converting preferred stock | shares			44,000	122,979
Conversion price (in dollars per share) | $ / shares				$ 28.2
Residual proceeds				$ 1,600,000
Conversion of preferred stock into common stock (in shares) | shares			1,240.8
Series B1 convertible preferred stock
Equity
Convertible preferred stock issued (in shares) | shares			2,227.2
Number of common shares by converting preferred stock | shares						78,973
Conversion price (in dollars per share) | $ / shares			$ 5.10
Number of preferred stock (in shares) | shares						402.8
Preferred Stock, Shares outstanding | shares	1,824.4					1,824.4	0
Series B and B-1 Convertible Preferred Stock
Equity
Net deemed dividend to preferred shareholders						$ 1,900,000
Series C convertible preferred stock
Equity
Conversion of preferred stock into common stock (in shares) | shares	0
Preferred Stock, Shares outstanding | shares	2,900					2,900	0
Series C convertible preferred stock | Securities purchase agreement
Equity
Convertible preferred stock issued (in shares) | shares		2,900
Conversion price (in dollars per share) | $ / shares		$ 5.10
Series C convertible preferred stock | Subject to shareholder approval | Securities purchase agreement
Equity
Beneficial conversion amount		$ 1,300,000
Series D convertible preferred stock
Equity
Conversion of preferred stock into common stock (in shares) | shares						0
Series D convertible preferred stock | Securities purchase agreement
Equity
Convertible preferred stock issued (in shares) | shares		700
Conversion price (in dollars per share) | $ / shares		$ 5.10
Series D convertible preferred stock | Warrants to purchase common stock
Equity
Proceeds from issuance of convertible preferred stock		$ 200,000
Series D convertible preferred stock | Subject to shareholder approval | Securities purchase agreement
Equity
Convertible preferred stock issued (in shares) | shares		200
Number of common shares by converting preferred stock | shares		39,216
Convertible conversion price (in dollars per share) | $ / shares		5.10
Beneficial conversion amount		$ 300,000

Stock-Based Compensation - (Det

Stock-Based Compensation - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Stock-based compensation
Compensation expense	$ 1,015	$ 2,437
Selling, general and administrative expense
Stock-based compensation
Compensation expense	630	1,612
Research and development expense
Stock-based compensation
Compensation expense	$ 385	$ 825

Stock-Based Compensation - Opti

Stock-Based Compensation - Options/RSU (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Minimum
Stock-based compensation
Vesting period	1 year
Maximum
Stock-based compensation
Vesting period	4 years
Stock Option
Options Outstanding
Outstanding at the beginning of the year (in shares)	66,382	72,273
Granted (in shares)	45,413	9,176
Exercised (in shares)	0	0
Forfeited/expired (in shares)	(23,925)	(15,067)
Outstanding at the end of the year (in shares)	87,870	66,382
Vested at the end of the year (in shares)	43,280	41,505
Weighted Average Exercise Price
Outstanding at the beginning of the year (in dollars per share)	$ 184.45	$ 194.36
Granted (in dollars per share)	27.17	117.05
Forfeited/expired (in dollars per share)	139.18	192.21
Outstanding at the end of the year (in dollars per share)	115.41	184.45
Vested at the end of the year (in dollars)	$ 189.74	$ 202.54
Remaining Average Contractual Term
Outstanding at the end of the year	7 years 6 months 29 days
Vested at the end of the year	7 years 4 months 17 days
Aggregate Value
Total fair value, vested	$ 1,100,000	$ 1,900,000
Additional disclosures
Weighted-average fair value of options granted (in dollars per share)	$ 27.17	$ 117.05
Total unrecognized compensation costs related to non-vested stock option awards		$ 1,200,000
Unrecognized compensation costs related to non-vested stock option awards, recognition period		2 years 6 months
Weighted-average assumptions used in calculating the fair value of options granted
Expected dividend yield (as a percent)	0.00%	0.00%
Risk-free interest rate (as a percent)	1.71%	1.89%
Expected volatility (as a percent)	86.00%	88.00%
Expected life	6 years 3 months	6 years 3 months
Restricted stock units
Restricted stock award activity
Nonvested beginning balance	376	5,210
Granted (in shares)	23,366	906
Vested (in shares)	(12,771)	(5,704)
Forfeited (in shares)	(639)	(36)
Nonvested ending balance	10,332	376
Restricted stock award activity weighted average grant price
Nonvested weighted average grant price beginning balance	$ 128.70	$ 151.80
Granted (in dollars per share)	27.67	128.70
Vested (in dollar per share)	22.73	131
Forfeited (in dollars per share)	21.30	96
Nonvested weighted average grant price ending balance	$ 27.17	$ 128.70
Award tendered (in shares)	3,333	2,190

Stock-Based Compensation - Warr

Stock-Based Compensation - Warrants (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 03, 2016	Jul. 26, 2016	Dec. 31, 2016	Dec. 31, 2015
Warrants
Common stock warrant liability			$ 1,843
Warrants to purchase common stock
Warrants
Warrants outstanding (in shares)			885,601	9,930
Period range, exercisable	60 months	36 months
Exercise price of warrants (in dollars per share)	$ 5.40	$ 28.2
Warrants issued (in shares)	705,884	122,979
Warrants to purchase common stock | Minimum
Warrants
Period range, exercisable			8 months
Exercise price of warrants (in dollars per share)			$ 5.10
Warrants to purchase common stock | Maximum
Warrants
Period range, exercisable			8 years 6 months
Exercise price of warrants (in dollars per share)			$ 210

Fair Value of Financial Instr37

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Nov. 03, 2016	Jul. 26, 2016	Dec. 31, 2016	Dec. 31, 2015
Fair value
Common stock warrants fair value					$ 355
Warrants and Rights Outstanding	$ 1,843			$ 1,843
Change in fair value of warrant liability				818
Fair Value Transfers between levels
Level 1 to Level 2 Asset Transfers	0			0	0
Level 2 to Level 1 Asset Transfers	0			0	0
Level 1 to Level 2 Liability Transfers	0			0	0
Level 2 to Level 1 Liability Transfers	$ 0			0	$ 0
Common stock warrants
Fair value
Risk-free interest rates, adjusted for continuous compounding		1.33%	0.94%
Term (years)		5 years 6 months	3 years 6 months
Expected volatility (as a percent)		41.40%	78.00%
Level 3 | Common stock warrants issued on July 26, 2016
Fair value
Common stock warrants fair value			$ 1,800	200
Level 3 | Common stock warrants issued on November 3, 2016
Fair value
Common stock warrants fair value		$ 800		$ 1,500
Minimum | Common stock warrants
Fair value
Risk-free interest rates, adjusted for continuous compounding				1.47%
Term (years)	3 years 1 month 6 days
Expected volatility (as a percent)				49.80%
Maximum | Common stock warrants
Fair value
Risk-free interest rates, adjusted for continuous compounding				1.96%
Term (years)	5 years 3 months 18 days
Expected volatility (as a percent)				55.30%

Income Taxes - Current_Non Curr

Income Taxes - Current/Non Current (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income tax provision:
Domestic	$ (15,877)	$ (26,665)
Foreign	31	(42)
Loss before income taxes	(15,846)	(26,707)
Current:
Foreign, net	54	124
Total income tax benefit	54	124
Income tax reconciliation
Statutory federal income tax benefit	5,388	9,066
State tax benefit, net of federal taxes	2	4
Foreign tax	3	3
R&D tax credit	80	135
Non deductible/nontaxable items	(86)	(186)
Other	(257)	(164)
Valuation allowance increase	(5,076)	(8,734)
Total income tax benefit	54	124
Current:
Accrued leave	43	71
Other accrued expenses	97	163
Total current deferred tax asset	140	234
Noncurrent:
Stock based compensation	1,477	1,539
Net operating loss carryforward	49,720	44,462
Deferred rent	17	21
Other	777	52
R&D credits carryforward	531	531
Total noncurrent deferred tax assets	52,522	46,605
Total deferred tax assets	52,662	46,839
Less: valuation allowance	$ (52,662)	$ (46,839)

Income Taxes - (Details)

Income Taxes - (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Tax credit carryforward
Increase in valuation allowance	$ 5,800,000	$ 7,500,000
Australian
Tax credit carryforward
Research and development credit received	$ 80,000	$ 135,000

Income Taxes - Carryforwards (D

Income Taxes - Carryforwards (Details) $ in Thousands, AUD in Millions	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016AUD	Dec. 31, 2016USD ($)
Operating loss carryforwards
Uncertain tax positions		$ 0		$ 0
Interest and penalties related to uncertain tax positions accrued during the period	$ 0	$ 0
United States
Operating loss carryforwards
Net operating loss (NOL) carryforwards				$ 110,000
Australian
Operating loss carryforwards
Net operating loss (NOL) carryforwards | AUD			AUD 49

Commitments and Contingencies -

Commitments and Contingencies - (Details) - USD ($)	Aug. 05, 2016	Dec. 31, 2016	Dec. 31, 2015	Aug. 05, 2015
Employee Retirement Plan
Employer's matching contribution		$ 122,000	$ 147,000
Future minimum lease payments
2,017		207,000
2,018		203,000
2,019		51,000
2,020		0
2,021		0
Rent expense related to operating leases		$ 286,000	$ 261,000
Aquadex product line
Future minimum lease payments
Agreement term (in months)	18 months
Remaining inventory obligation				$ 2,500,000
Contingent Consideration
Limit on disposes of business assets	$ 4,000,000
Maximum period on disposes of business assets (in years)	3 years
Additional payments on disposes of business assets (as a percent)	40.00%

Segment and Geographic Inform42

Segment and Geographic Information (Details)	12 Months Ended
	Dec. 31, 2016item
Segment and Geographic Information
Number of Reportable Segments	1

Subsequent Events (Details)

Subsequent Events (Details)	Feb. 15, 2017USD ($)shares	Jan. 12, 2017	Jan. 10, 2017USD ($)$ / sharesshares	Nov. 03, 2016USD ($)$ / sharesshares	Oct. 30, 2016USD ($)	Jul. 26, 2016$ / sharesshares
Securities purchase agreement
Subsequent Event
Proceeds from issuance of stock | $				$ 3,600,000	$ 3,800,000
Series D convertible preferred stock | Securities purchase agreement
Subsequent Event
Convertible preferred stock issued (in shares)				700
Series D convertible preferred stock | Securities purchase agreement | Subject to shareholder approval
Subsequent Event
Convertible preferred stock issued (in shares)				200
Number of shares of convertible preferred stock (in shares)				39,216
Convertible conversion price (in dollars per share) | $ / shares				5.10
Warrants to purchase common stock
Subsequent Event
Warrants issued (in shares)				705,884		122,979
Exercise price of warrants (in dollars per share) | $ / shares				$ 5.40		$ 28.2
Percentage of placement fee offered in cash						6
Warrants to purchase common stock | Securities purchase agreement
Subsequent Event
Warrants issued (in shares)				39,216
Exercise price of warrants (in dollars per share) | $ / shares				$ 5.40
Warrants to purchase common stock | Series D convertible preferred stock
Subsequent Event
Proceeds from issuance of stock | $				$ 200,000
Subsequent event
Subsequent Event
Reverse stock split ratio		0.0333
Subsequent event | Private placement
Subsequent Event
Percentage of placement fee offered in cash			6
Subsequent event | Series D convertible preferred stock | Securities purchase agreement | Subject to shareholder approval
Subsequent Event
Convertible preferred stock issued (in shares)			200
Number of shares of convertible preferred stock (in shares)			39,216
Convertible conversion price (in dollars per share) | $ / shares			5.10
Subsequent event | Warrants to purchase common stock
Subsequent Event
Full proceeds from exercise of warrants | $	$ 4,650,000
Beneficial ownership limitation (in percentage)	9.99%
Exercised	104,419
Cash proceeds from warrant exercise | $	$ 564,000
Subsequent event | Warrants to purchase common stock | Private placement
Subsequent Event
Warrants issued (in shares)			2,353
Subsequent event | Warrants to purchase common stock | Securities purchase agreement
Subsequent Event
Warrants issued (in shares)			39,216
Exercise price of warrants (in dollars per share) | $ / shares			$ 5.40
Subsequent event | Warrants to purchase common stock | Series D convertible preferred stock
Subsequent Event
Proceeds from issuance of stock | $			$ 200,000