Sophiris Bio (SPHS) 10-Q 10 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Document Information [Line Items]
Entity Registrant Name	SOPHIRIS BIO INC.
Entity Central Index Key	1,563,855
Trading Symbol	sphs
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		30,111,153
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 6,824,000	$ 12,800,000
Securities available-for-sale	17,205,000	16,201,000
Other receivables	69,000	128,000
Prepaid expenses	948,000	846,000
Total current assets	25,046,000	29,975,000
Property and equipment, net	2,000	4,000
Other long-term assets		19,000
Total assets	25,048,000	29,998,000
Current liabilities:
Accounts payable	506,000	459,000
Accrued expenses	1,154,000	1,762,000
Total current liabilities	1,660,000	2,221,000
Warrant liability	10,162,000	13,396,000
Stock-based compensation liability	0	57,000
Total liabilities	11,822,000	15,674,000
Commitments and contingencies
Shareholders’ equity:
Common shares, unlimited authorized shares, no par value; 30,111,153 and 30,107,644 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	131,246,000	131,245,000
Contributed surplus	24,824,000	23,900,000
Accumulated other comprehensive gain	85,000	99,000
Accumulated deficit	(142,929,000)	(140,920,000)
Total shareholders’ equity	13,226,000	14,324,000
Total liabilities and shareholders’ equity	$ 25,048,000	$ 29,998,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	Jun. 30, 2017	Dec. 31, 2016
Common shares, par value (in dollars per share)	$ 0	$ 0
Common shares, shares issued (in shares)	30,111,153	30,107,644
Common shares, shares outstanding (in shares)	30,111,153	30,107,644

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Operating expenses:
Research and development	$ 1,387	$ 978	$ 2,595	$ 1,907
General and administrative	1,367	1,357	2,736	2,521
Total operating expenses	2,754	2,335	5,331	4,428
Other income (expense):
Interest expense		(137)		(287)
Interest income	53	3	103	7
Gain (loss) on revaluation of warrant liability	3,320	(1,619)	3,234	(1,619)
Other expense, net	(9)	(3)	(16)	(7)
Total other income (expense)	3,364	(1,756)	3,321	(1,906)
Net income (loss)	$ 610	$ (4,091)	$ (2,010)	$ (6,334)
Basic income (loss) per share (in dollars per share)	$ 0.02	$ (0.21)	$ (0.07)	$ (0.35)
Diluted income (loss) per share (in dollars per share)	$ 0.02	$ (0.21)	$ (0.07)	$ (0.35)
Weighted average number of outstanding shares – basic (in shares)	30,111	19,340	30,111	18,292
Weighted average number of outstanding shares – diluted (in shares)	30,515	19,340	30,111	18,292
Other comprehensive income (loss):
Unrealized loss on securities available-for-sale	$ (1)		$ (14)
Total other comprehensive income (loss)	$ 609	$ (4,091)	$ (2,024)	$ (6,334)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows used in operating activities
Net loss for the period	$ (2,010,000)	$ (6,334,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	867,000	185,000
Amortization of debt discount		62,000
Depreciation of property and equipment	3,000	9,000
Amortization of discount on securities available-for-sale	92,000
Change in fair value warrant liability	(3,234,000)	1,619,000
Foreign exchange transaction loss	4,000	1,000
Changes in operating assets and liabilities:
Other receivables	59,000	7,000
Prepaid expenses and other long-term assets	(83,000)	316,000
Accounts payable	41,000	(707,000)
Accrued expenses	(608,000)	107,000
Net cash used in operating activities	(4,869,000)	(4,735,000)
Cash flows (used in) provided by investing activities
Purchase of property and equipment	(1,000)
Maturities of securities available-for-sale	4,291,000	2,750,000
Purchases of securities available-for-sale	(5,400,000)	(250,000)
Net cash (used in) provided by investing activities	(1,110,000)	2,500,000
Cash flows provided by financing activities
Proceeds from exercise of stock options	2,000	3,000
Proceeds from the issuance of financing, net of paid offering costs		4,770,000
Proceeds from the exercise of warrants		840,000
Principal payments on promissory notes		(921,000)
Net cash provided by financing activities	2,000	4,692,000
Effect of exchange rate changes on cash and cash equivalents	1,000
Net (decrease) increase cash and cash equivalents	(5,976,000)	2,457,000
Cash and cash equivalents at beginning of period	12,800,000	5,881,000
Cash and cash equivalents at end of period	6,824,000	8,338,000
Supplemental disclosures of non-cash investing and financing activities:
Change in the fair value of stock-based compensation liability recorded to contributed surplus	(57,000)	(66,000)
Valuation of warrant liability upon issuance of warrants		1,687,000
Valuation of exercised warrants reclassified from warrant liability to contributed surplus		1,048,000
Issuance costs included in accrued expenses but not paid		$ 60,000

Note 1 - Nature of the Business

Note 1 - Nature of the Business	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	1. Nature of the business Company Sophiris Bio Inc., or the Company, or Sophiris, is a clinical-stage biopharmaceutical company currently developing topsalysin for treatment of the symptoms of clinically significant localized prostate cancer and benign prostatic hyperplasia, or BPH, commonly referred to as an enlarged prostate. The Company is governed by the British Columbia Business Corporations Act. The Company’s operations were initially located in Vancouver, British Columbia until April 2011, The condensed consolidated financial statements include the accounts of Sophiris Bio Inc. and its wholly-owned subsidiaries, Sophiris Bio Corp. and Sophiris Bio Holding Corp., both of which are incorporated in the State of Delaware.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Summary of significant accounting policies Significant accounting policies followed by the Company in the preparation of its condensed consolidated financial statements are as follows: Basis of consolidation The condensed consolidated financial statements include the accounts of the Company, Sophiris Bio Corp. and Sophiris Bio Holding Corp. All intercompany balances and transactions have been eliminated for purposes of consolidation. Basis of presentation and use of estimates The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP, for the interim financial information and the rules and regulations of the Securities and Exchange Commission, or SEC, related to quarterly reports on Form 10 not ’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10 March 27, 2017. not not may GAAP requires the Company ’s management to make estimates and judgments that may may Foreign currency Historically gains and losses resulting from foreign currency translation were recorded in accumulated other comprehensive gain (loss), which is a separate component of stockholders ’ equity. Foreign currency transaction gains and losses are recognized as a component of other expense. Cash and cash equivalents Cash equivalents are short-term, highly liquid investments with an original maturity of three Securities Available-for-Sale Investments with an original maturity of more than three ’ equity. Realized gains and losses and declines in value judged to be other-than-temporary on available-for-sale securities are included in interest income. No June 30, 2017 December 31, 2016. one Revenue recognition The Company may may The Company recognizes up front license payments as revenue upon delivery of the license only if the license has stand-alone value to the customer and if the agreement includes a general right of return, the delivery or performance of undelivered items is considered probable and within the control of the Company. The payment is generally allocated to the separate units of accounting based on their relative selling prices. The selling price of each deliverable is determined using vendor specific objective evidence of selling prices, if it exists; otherwise, third third not Whenever the Company determines that an arrangement should be accounted for as a single unit of accounting, it must determine the period over which the performance obligations will be performed and revenue recognized. If the Company cannot reasonably estimate the timing and the level of effort to complete its performance obligations under the arrangement, then revenue under the arrangement is recognized on a straight-line basis over the period the Company is expected to complete its performance obligations. The Company evaluates milestone payments on an individual basis and recognizes revenue from non-refundable milestone payments when the earnings process is complete and the payment is reasonably assured. Non-refundable milestone payments related to arrangements under which the Company has continuing performance obligations are recognized as revenue upon achievement of the associated milestone, provided that (i) the milestone event is substantive and its achievability was not not not not not Royalty revenue will be recognized upon the sale of the related products provided the Company has no Research and development expenses Research and development costs are charged to expense as incurred. Research and development expenses comprise costs incurred in performing research and development activities, including personnel-related costs, stock-based compensation, facilities, research-related overhead, clinical trial costs, contracted services, manufacturing, license fees and other external costs. The Company accounts for nonrefundable advance payments for goods and services that will be used in future research and development activities as expenses when the service has been performed or when the goods have been consumed rather than when the payment is made. Accrued research and development expenses Clinical trial costs are recorded as a component of research and development expenses. The Company accrues and expenses clinical trial activities performed by third may ’s clinical development plan. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. Adjustments to prior period estimates have not Examples of estimated accrued research and development expenses include: • fees to clinical research organizations in connection with clinical studies; • fees to investigative sites in connection with clinical studies; • fees to vendors in connection with preclinical development activities; • fees to vendors associated with the development of companion diagnostics; and • fees to vendors related to product manufacturing, development and distribution of clinical supplies. Nonrefundable advance payments for goods and services that will be used or rendered in future research and development activities, are recorded as a prepaid expense and recognized as expense in the period that the related goods are consumed or services are performed. Stock-based compensation The Company expenses the fair value of employee stock options over the vesting period. Compensation expense is measured using the fair value of the award at the grant date, net of estimated forfeitures, and is adjusted annually to reflect actual forfeitures. The fair value of each stock-based award is estimated using the Black-Scholes pricing model and is expensed using graded amortization over the vesting period. The Company accounts for stock options granted to non-employees, which primarily consist of consultants of the Company, using the fair value approach. Stock options granted to non-employees are subject to revaluation each reporting period over their vesting terms. Prior to the Company ’s initial public offering, or IPO, the Company had issued its stock options with a Canadian dollar denominated exercise price. Subsequent to the Company’s IPO, the Company issues its stock options with a U.S. dollar denominated exercise price. Effective November 13, 2013, 718, Compensation, Stock Compensation” zero June 30, 2017. June 30, 2017 no $23,000 $57,000 three six June 30, 2017, $19,000 $66,000 three six June 30, 2016, Warrant Liability In connection with the offerings the Company completed in 2016, may 480 “Distinguishing Liabilities from Equity” Certain inputs utilized in the Company’s Black-Scholes fair value calculation may one may Fair value of financial instruments The Company measures certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid for to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The carrying amounts of the Company ’s financial instruments, including cash and cash equivalents and accounts payable and accrued expenses, approximate fair value due to their short maturities. The Company follows ASC 820 10, Fair Value Measurements and Disclosures three Level 1 – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 – Inputs (other than quoted prices included in Level 1 Level 3 – Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Recent accounting pronouncements In May 2014, No. 2014 09 606 2015 14; 2016 08; 2016 10; 2016 12; 2016 20 606 December 15, 2017, December 15, 2016, not not December 31, 2016, 2015 2014. not not In February 2016, No. 2016 02, Lease (Topic 842 not December 15, 2018 In August 2016, 2016 15, Statement of Cash Flows (Topic 230 eight December 31, 2017, In May 2017 No. 2017 09, 718 718. January 1, 2018; not

Note 3 - Net Income (Loss) Per

Note 3 - Net Income (Loss) Per Common Share	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	3. Net income ( loss ) per common share Basic net income (loss) per share is calculated by dividing the net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding during the period, without consideration for common shares equivalents. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to common shareholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. The following table sets forth the computation of basic and diluted EPS (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Basic net income (loss) per share Net income (loss) allocated to common stockholders $ 610 $ (4,091 ) $ (2,010 ) $ (6,334 ) Weighted average common shares outstanding-basic 30,111 19,340 30,111 18,292 Net income (loss) per share-basic $ 0.02 $ (0.21 ) $ (0.07 ) $ (0.35 ) Diluted n et income (loss) per share Net income (loss) allocated to common stockholders -diluted $ 603 $ (4,091 ) $ (2,010 ) $ (6,334 ) Weighted average common shares outstanding-basic 30,111 19,340 30,111 18,292 Dilutive securities 404 — — — Weighted average common shares outstanding-dilutive 30,515 19,340 30,111 18,292 Net income (loss) per share-diluted $ 0.02 $ (0.21 ) $ (0.07 ) $ (0.35 ) The following diluted securities were excluded from the calculation of the denominator for diluted net income per common share for the three six June 30, 2017 2016 Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Options to purchase common shares 2,497 2,014 2,888 2,014 Common share purchase warrants 5,712 1,776 5,725 1,776

Note 4 - Securities Available-f

Note 4 - Securities Available-for-Sale	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Securities Available-for-Sale Securities available-for-sale consisted of the following as of June 30, 2017 ( June 30 , 201 7 Amortized Unrealized Estimated Cost Gain Loss Fair Value Commercial paper $ 3,645 $ — $ — $ 3,645 U.S. government sponsored enterprise securities 13,574 — (14 ) 13,560 $ 17,219 $ — $ (14 ) $ 17,205 The amortized cost and estimated fair value of the Company securities available-for-sale by contractual maturity as of June 30, 2017 June 30 , 201 7 Amortized Unrealized Estimated Cost Gain Loss Fair Value Within one year $ 17,219 $ — $ (14 ) $ 17,205 After one year — — — — $ 17,219 $ — $ (14 ) $ 17,205 Securities available-for-sale consisted of the following as of December 31, 2016 December 31, 201 6 Amortized Unrealized Estimated Cost Gain Loss Fair Value Commercial paper $ 3,890 $ — $ — $ 3,890 U.S. government sponsored enterprise securities 12,311 — — 12,311 $ 16,201 $ — $ — $ 16,201 The amortized cost and estimated fair value of the Company securities available-for-sale by contractual maturity as of December 31, 2016 December 31, 201 6 Amortized Unrealized Estimated Cost Gain Loss Fair Value Within one year $ 16,201 $ — $ — $ 16,201 After one year — — — — $ 16,201 $ — $ — $ 16,201

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurement and Financial Instruments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. Fair value measurement and financial instruments As of June 30, 2017 $23.5 seven seven three 1 2 2 third 3 The following table presents the Company ’s assets and liabilities that are measured at fair value on a recurring basis for the periods presented (in thousands): June 30 , 201 7 Level 1 Level 2 Level 3 Assets: Money market funds $ 5 $ 5 $ — $ — Commercial paper 9,968 — 9,968 — U.S. government sponsored enterprise securities 13,560 — 13,560 — Total assets $ 23,533 $ 5 $ 23,528 $ — Liabilities: Warrant liability $ 10,162 $ — $ — $ 10,162 Stock based compensation liability — — — — Total liabilities $ 10,162 $ — $ — $ 10,162 December 31, 201 6 Level 1 Level 2 Level 3 Assets: Money market funds $ 57 $ 57 $ — $ — Commercial paper 16,085 — 16,085 — U.S. government sponsored enterprise securities 12,311 — 12,311 — Total assets $ 28,453 $ 57 $ 28,396 $ — Liabilities: Warrant liability $ 13,396 $ — $ — $ 13,396 Stock-based compensation liability 57 — — 57 Total liabilities $ 13,453 $ — $ — $ 13,453 Warrant liability In connection with the offering completed in May 2016, 1,785,714 may June 30, 2017, 10,000 May 2016 June 30, 2017. June 30, 2017 March 31, 2017 December 31 , 2016 Stock price $ 2.20 $ 2.83 $ 2.80 Exercise price $ 1.40 $ 1.40 $ 1.40 Risk-free interest rate 1.69 % 1.73 % 1.78 % Volatility 141.12 % 147.06 % 144.25 % Dividend yield 0.00 % 0.00 % 0.00 % Expected life in years 3.86 4.11 4.36 Calculated fair value per warrant $ 1.92 $ 2.57 $ 2.55 In connection with the offering completed on August 2016, 5,606,250 may June 30, 2017 March 31, 2017 December 31 , 2016 Stock price $ 2.20 $ 2.83 $ 2.80 Exercise price $ 4.00 $ 4.00 $ 4.00 Risk-free interest rate 1.74 % 1.80 % 1.85 % Volatility 145.52 % 143.07 % 140.47 % Dividend yield 0.00 % 0.00 % 0.00 % Expected life in years 4.16 4.41 4.65 Calculated fair value per warrant $ 1.81 $ 2.40 $ 2.38 The following table presents a reconciliation of the warrant liability measured at fair value using unobservable inputs (Level 3 Six Months Ended June 30, 201 7 201 6 Balance at beginning of period $ 13,396 $ — Calculated fair value of the warrants on date of issuance — 1,687 Fair value of warrants exercised recorded as an adjustment to contributed surplus — (1,048 ) Change in fair value of warrant liability (3,234 ) 1,619 Balance at end of period $ 10,162 $ 2,258 Stock-based compensation liability The Company calculates the fair value of the stock-based compensation liability for those stock options with exercise prices denominated in Canadian Dollars (level 3 June 30 , 201 7 March 31 , 201 7 December 31, 201 6 Stock price at the end of each reporting period $ 2.20 $ 2.83 $ 2.80 Weighted average exercise price $ 11.16 $ 11.14 $ 11.06 Risk-free interest rate 1.24 % 1.03 % 0.85 % Volatility 33.13 % 80.71 % 120.81 % Dividend yield 0.00 % 0.00 % 0.00 % Expected life in years 0.38 0.61 0.85 Calculated fair value per stock option $ 0.00 $ 0.13 $ 0.33 The following table presents a reconciliation of the stock-based compensation liability measured at fair value using unobservable inputs (Level 3 Six Months Ended June 30, 201 7 201 6 Balance at beginning of period $ 57 $ 168 Change in fair value of stock-based compensation liability recorded as an adjustment to contributed surplus (57 ) (66 ) Balance at end of period $ — $ 102 The Company recognizes transfers into and out of levels within the fair value hierarchy at the end of the reporting period in which the actual event or change in circumstances that caused the transfer occurs. There were no

Note 6 - Prepaid Expenses

Note 6 - Prepaid Expenses	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Prepaid Expenses and Other Assets [Text Block]	6. Prepaid expenses Prepaid expenses as of June 30, 2017 December 31, 2016 June 30 , 201 7 December 31, 201 6 Prepaid insurance $ 53 $ 273 Prepaid research and development expenses 779 546 Other prepaid expenses 116 27 Prepaid expenses $ 948 $ 846 As of June 30, 2017 December 31, 2016, $0.7 $0.5

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7. Accrued expenses Accrued expenses as of June 30, 2017 December 31, 2016 June 30 , 201 7 December 31, 201 6 Accrued personnel related costs $ 547 $ 1,491 Accrued research and development expenses 315 87 Accrued audit and tax services 204 129 Other accrued expenses 88 55 Accrued expenses $ 1,154 $ 1,762

Note 8 - Promissory Notes

Note 8 - Promissory Notes	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	8. Promissory notes On September 2, 2016, on its Loan and Security Agreement with Oxford Finance LLC, or Oxford. During the three six June 30, 2016, $0.1 $0.2

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation Plan	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9 . Stock-based compensation plan The Company ’s Amended and Restated 2011 As of June 30, 2017, 122,665 The Company recognized stock-based compensation expense as follows for the three six June 30, 2017 2016 Three Months Ended June 30, Six Months Ended June 30, 201 7 201 6 201 7 201 6 Research and development $ 130 $ 37 $ 255 $ 69 General and administrative 335 58 612 116 Total $ 465 $ 95 $ 867 $ 185 As of June 30, 2017 $1.5 1.2 The following table summarizes stock option activity, including options issued to employees, directors and non-employees (in thousands, except per share): Options Outstanding Weighted Average Exercise Price Outstanding at January 1, 201 7 2,868 $ 3.63 Options granted 85 2.45 Options exercised (3 ) 0.4589 Options expired (7 ) 24.40 Options forfeited (55 ) 2.23 Outstanding at June 30, 2017 2,888 $ 3.58 The total amount of options outstanding at June 30, 2017 The fair values of options granted during the six June 30, 2017 2016 Six Months Ended June 30, 201 7 201 6 Expected life of the option term (years) 4.1 3.8 Risk-free interest rate 1.61 % 1.19 % Dividend rate 0 % 0 % Volatility 144.8 % 147.8 % Forfeiture rate 0.0 % 3.4 %

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Basis of consolidation The condensed consolidated financial statements include the accounts of the Company, Sophiris Bio Corp. and Sophiris Bio Holding Corp. All intercompany balances and transactions have been eliminated for purposes of consolidation.
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation and use of estimates The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP, for the interim financial information and the rules and regulations of the Securities and Exchange Commission, or SEC, related to quarterly reports on Form 10 not ’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10 March 27, 2017. not not may GAAP requires the Company ’s management to make estimates and judgments that may may
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency Historically gains and losses resulting from foreign currency translation were recorded in accumulated other comprehensive gain (loss), which is a separate component of stockholders ’ equity. Foreign currency transaction gains and losses are recognized as a component of other expense.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents Cash equivalents are short-term, highly liquid investments with an original maturity of three
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block]	Securities Available-for-Sale Investments with an original maturity of more than three ’ equity. Realized gains and losses and declines in value judged to be other-than-temporary on available-for-sale securities are included in interest income. No June 30, 2017 December 31, 2016. one
Revenue Recognition, Policy [Policy Text Block]	Revenue recognition The Company may may The Company recognizes up front license payments as revenue upon delivery of the license only if the license has stand-alone value to the customer and if the agreement includes a general right of return, the delivery or performance of undelivered items is considered probable and within the control of the Company. The payment is generally allocated to the separate units of accounting based on their relative selling prices. The selling price of each deliverable is determined using vendor specific objective evidence of selling prices, if it exists; otherwise, third third not Whenever the Company determines that an arrangement should be accounted for as a single unit of accounting, it must determine the period over which the performance obligations will be performed and revenue recognized. If the Company cannot reasonably estimate the timing and the level of effort to complete its performance obligations under the arrangement, then revenue under the arrangement is recognized on a straight-line basis over the period the Company is expected to complete its performance obligations. The Company evaluates milestone payments on an individual basis and recognizes revenue from non-refundable milestone payments when the earnings process is complete and the payment is reasonably assured. Non-refundable milestone payments related to arrangements under which the Company has continuing performance obligations are recognized as revenue upon achievement of the associated milestone, provided that (i) the milestone event is substantive and its achievability was not not not not not Royalty revenue will be recognized upon the sale of the related products provided the Company has no
Research and Development Expense, Policy [Policy Text Block]	Research and development expenses Research and development costs are charged to expense as incurred. Research and development expenses comprise costs incurred in performing research and development activities, including personnel-related costs, stock-based compensation, facilities, research-related overhead, clinical trial costs, contracted services, manufacturing, license fees and other external costs. The Company accounts for nonrefundable advance payments for goods and services that will be used in future research and development activities as expenses when the service has been performed or when the goods have been consumed rather than when the payment is made.
Accrued Research and Development Expenses [Policy Text Block]	Accrued research and development expenses Clinical trial costs are recorded as a component of research and development expenses. The Company accrues and expenses clinical trial activities performed by third may ’s clinical development plan. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. Adjustments to prior period estimates have not Examples of estimated accrued research and development expenses include: • fees to clinical research organizations in connection with clinical studies; • fees to investigative sites in connection with clinical studies; • fees to vendors in connection with preclinical development activities; • fees to vendors associated with the development of companion diagnostics; and • fees to vendors related to product manufacturing, development and distribution of clinical supplies. Nonrefundable advance payments for goods and services that will be used or rendered in future research and development activities, are recorded as a prepaid expense and recognized as expense in the period that the related goods are consumed or services are performed.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-based compensation The Company expenses the fair value of employee stock options over the vesting period. Compensation expense is measured using the fair value of the award at the grant date, net of estimated forfeitures, and is adjusted annually to reflect actual forfeitures. The fair value of each stock-based award is estimated using the Black-Scholes pricing model and is expensed using graded amortization over the vesting period. The Company accounts for stock options granted to non-employees, which primarily consist of consultants of the Company, using the fair value approach. Stock options granted to non-employees are subject to revaluation each reporting period over their vesting terms. Prior to the Company ’s initial public offering, or IPO, the Company had issued its stock options with a Canadian dollar denominated exercise price. Subsequent to the Company’s IPO, the Company issues its stock options with a U.S. dollar denominated exercise price. Effective November 13, 2013, 718, Compensation, Stock Compensation” zero June 30, 2017. June 30, 2017 no $23,000 $57,000 three six June 30, 2017, $19,000 $66,000 three six June 30, 2016,
Warrant Liability [Policy Text Block]	Warrant Liability In connection with the offerings the Company completed in 2016, may 480 “Distinguishing Liabilities from Equity” Certain inputs utilized in the Company’s Black-Scholes fair value calculation may one may
Fair Value Measurement, Policy [Policy Text Block]	Fair value of financial instruments The Company measures certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid for to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The carrying amounts of the Company ’s financial instruments, including cash and cash equivalents and accounts payable and accrued expenses, approximate fair value due to their short maturities. The Company follows ASC 820 10, Fair Value Measurements and Disclosures three Level 1 – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 – Inputs (other than quoted prices included in Level 1 Level 3 – Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements In May 2014, No. 2014 09 606 2015 14; 2016 08; 2016 10; 2016 12; 2016 20 606 December 15, 2017, December 15, 2016, not not December 31, 2016, 2015 2014. not not In February 2016, No. 2016 02, Lease (Topic 842 not December 15, 2018 In August 2016, 2016 15, Statement of Cash Flows (Topic 230 eight December 31, 2017, In May 2017 No. 2017 09, 718 718. January 1, 2018; not

Note 3 - Net Income (Loss) Pe16

Note 3 - Net Income (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Basic net income (loss) per share Net income (loss) allocated to common stockholders $ 610 $ (4,091 ) $ (2,010 ) $ (6,334 ) Weighted average common shares outstanding-basic 30,111 19,340 30,111 18,292 Net income (loss) per share-basic $ 0.02 $ (0.21 ) $ (0.07 ) $ (0.35 ) Diluted n et income (loss) per share Net income (loss) allocated to common stockholders -diluted $ 603 $ (4,091 ) $ (2,010 ) $ (6,334 ) Weighted average common shares outstanding-basic 30,111 19,340 30,111 18,292 Dilutive securities 404 — — — Weighted average common shares outstanding-dilutive 30,515 19,340 30,111 18,292 Net income (loss) per share-diluted $ 0.02 $ (0.21 ) $ (0.07 ) $ (0.35 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Options to purchase common shares 2,497 2,014 2,888 2,014 Common share purchase warrants 5,712 1,776 5,725 1,776

Note 4 - Securities Available17

Note 4 - Securities Available-for-Sale (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Available-for-sale Securities [Table Text Block]	June 30 , 201 7 Amortized Unrealized Estimated Cost Gain Loss Fair Value Commercial paper $ 3,645 $ — $ — $ 3,645 U.S. government sponsored enterprise securities 13,574 — (14 ) 13,560 $ 17,219 $ — $ (14 ) $ 17,205 December 31, 201 6 Amortized Unrealized Estimated Cost Gain Loss Fair Value Commercial paper $ 3,890 $ — $ — $ 3,890 U.S. government sponsored enterprise securities 12,311 — — 12,311 $ 16,201 $ — $ — $ 16,201
Investments Classified by Contractual Maturity Date [Table Text Block]	June 30 , 201 7 Amortized Unrealized Estimated Cost Gain Loss Fair Value Within one year $ 17,219 $ — $ (14 ) $ 17,205 After one year — — — — $ 17,219 $ — $ (14 ) $ 17,205 December 31, 201 6 Amortized Unrealized Estimated Cost Gain Loss Fair Value Within one year $ 16,201 $ — $ — $ 16,201 After one year — — — — $ 16,201 $ — $ — $ 16,201

Note 5 - Fair Value Measureme18

Note 5 - Fair Value Measurement and Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 201 7 201 6 Expected life of the option term (years) 4.1 3.8 Risk-free interest rate 1.61 % 1.19 % Dividend rate 0 % 0 % Volatility 144.8 % 147.8 % Forfeiture rate 0.0 % 3.4 %
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	June 30 , 201 7 Level 1 Level 2 Level 3 Assets: Money market funds $ 5 $ 5 $ — $ — Commercial paper 9,968 — 9,968 — U.S. government sponsored enterprise securities 13,560 — 13,560 — Total assets $ 23,533 $ 5 $ 23,528 $ — Liabilities: Warrant liability $ 10,162 $ — $ — $ 10,162 Stock based compensation liability — — — — Total liabilities $ 10,162 $ — $ — $ 10,162 December 31, 201 6 Level 1 Level 2 Level 3 Assets: Money market funds $ 57 $ 57 $ — $ — Commercial paper 16,085 — 16,085 — U.S. government sponsored enterprise securities 12,311 — 12,311 — Total assets $ 28,453 $ 57 $ 28,396 $ — Liabilities: Warrant liability $ 13,396 $ — $ — $ 13,396 Stock-based compensation liability 57 — — 57 Total liabilities $ 13,453 $ — $ — $ 13,453
Stock-based Compensation Liability [Member]
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	June 30 , 201 7 March 31 , 201 7 December 31, 201 6 Stock price at the end of each reporting period $ 2.20 $ 2.83 $ 2.80 Weighted average exercise price $ 11.16 $ 11.14 $ 11.06 Risk-free interest rate 1.24 % 1.03 % 0.85 % Volatility 33.13 % 80.71 % 120.81 % Dividend yield 0.00 % 0.00 % 0.00 % Expected life in years 0.38 0.61 0.85 Calculated fair value per stock option $ 0.00 $ 0.13 $ 0.33
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Six Months Ended June 30, 201 7 201 6 Balance at beginning of period $ 57 $ 168 Change in fair value of stock-based compensation liability recorded as an adjustment to contributed surplus (57 ) (66 ) Balance at end of period $ — $ 102
Warrant Liability [Member]
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	June 30, 2017 March 31, 2017 December 31 , 2016 Stock price $ 2.20 $ 2.83 $ 2.80 Exercise price $ 1.40 $ 1.40 $ 1.40 Risk-free interest rate 1.69 % 1.73 % 1.78 % Volatility 141.12 % 147.06 % 144.25 % Dividend yield 0.00 % 0.00 % 0.00 % Expected life in years 3.86 4.11 4.36 Calculated fair value per warrant $ 1.92 $ 2.57 $ 2.55 June 30, 2017 March 31, 2017 December 31 , 2016 Stock price $ 2.20 $ 2.83 $ 2.80 Exercise price $ 4.00 $ 4.00 $ 4.00 Risk-free interest rate 1.74 % 1.80 % 1.85 % Volatility 145.52 % 143.07 % 140.47 % Dividend yield 0.00 % 0.00 % 0.00 % Expected life in years 4.16 4.41 4.65 Calculated fair value per warrant $ 1.81 $ 2.40 $ 2.38
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Six Months Ended June 30, 201 7 201 6 Balance at beginning of period $ 13,396 $ — Calculated fair value of the warrants on date of issuance — 1,687 Fair value of warrants exercised recorded as an adjustment to contributed surplus — (1,048 ) Change in fair value of warrant liability (3,234 ) 1,619 Balance at end of period $ 10,162 $ 2,258

Note 6 - Prepaid Expenses (Tabl

Note 6 - Prepaid Expenses (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Prepaid Expense and Other Current Assets [Table Text Block]	June 30 , 201 7 December 31, 201 6 Prepaid insurance $ 53 $ 273 Prepaid research and development expenses 779 546 Other prepaid expenses 116 27 Prepaid expenses $ 948 $ 846

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	June 30 , 201 7 December 31, 201 6 Accrued personnel related costs $ 547 $ 1,491 Accrued research and development expenses 315 87 Accrued audit and tax services 204 129 Other accrued expenses 88 55 Accrued expenses $ 1,154 $ 1,762

Note 9 - Stock-based Compensa21

Note 9 - Stock-based Compensation Plan (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 201 7 201 6 201 7 201 6 Research and development $ 130 $ 37 $ 255 $ 69 General and administrative 335 58 612 116 Total $ 465 $ 95 $ 867 $ 185
Share-based Compensation, Stock Options, Activity [Table Text Block]	Options Outstanding Weighted Average Exercise Price Outstanding at January 1, 201 7 2,868 $ 3.63 Options granted 85 2.45 Options exercised (3 ) 0.4589 Options expired (7 ) 24.40 Options forfeited (55 ) 2.23 Outstanding at June 30, 2017 2,888 $ 3.58
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 201 7 201 6 Expected life of the option term (years) 4.1 3.8 Risk-free interest rate 1.61 % 1.19 % Dividend rate 0 % 0 % Volatility 144.8 % 147.8 % Forfeiture rate 0.0 % 3.4 %

Note 2 - Summary of Significa22

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Other than Temporary Impairment Losses, Investments			$ 0		$ 0
Deferred Compensation Share-based Arrangements, Liability, Classified, Noncurrent	$ 0		0		$ 57,000
Change in Fair Value of Stock-based Compensation Liability	$ (23,000)	$ (19,000)	$ (57,000)	$ (66,000)

Note 3 - Net Income (Loss) Pe23

Note 3 - Net Income (Loss) Per Common Share - Reconciliation of Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Basic net income (loss) per share
Net income (loss) allocated to common stockholders	$ 610	$ (4,091)	$ (2,010)	$ (6,334)
Net income (loss) per share-basic (in dollars per share)	$ 0.02	$ (0.21)	$ (0.07)	$ (0.35)
Diluted net income (loss) per share
Net income (loss) allocated to common stockholders-diluted	$ 603	$ (4,091)	$ (2,010)	$ (6,334)
Weighted average common shares outstanding-basic (in shares)	30,111	19,340	30,111	18,292
Dilutive securities (in shares)	404
Weighted average common shares outstanding-dilutive (in shares)	30,515	19,340	30,111	18,292
Net income (loss) per share-diluted (in dollars per share)	$ 0.02	$ (0.21)	$ (0.07)	$ (0.35)

Note 3 - Net Loss Per Common Sh

Note 3 - Net Loss Per Common Share - Potentially Dilutive Securities Excluded From Diluted Weighted-average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Employee Stock Option [Member]
Anti-dilutive securities excluded from computation of weighted-average shares outstanding (in shares)	2,497	2,014	2,888	2,014
Warrant [Member]
Anti-dilutive securities excluded from computation of weighted-average shares outstanding (in shares)	5,712	1,776	5,725	1,776

Note 4 - Securities Available25

Note 4 - Securities Available-for-Sale - Securities Available-for-Sale (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Unrealized Loss	$ 14
Estimated Fair Value	17,205	16,201
Amortized Cost	17,219	16,201
Unrealized Gain
Unrealized Loss	(14)
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Unrealized Loss
Estimated Fair Value	3,645	3,890
Amortized Cost	3,645	3,890
Unrealized Gain
Unrealized Loss
US Government-sponsored Enterprises Debt Securities [Member]
Unrealized Loss	14
Estimated Fair Value	13,560	12,311
Amortized Cost	13,574	12,311
Unrealized Gain
Unrealized Loss	$ (14)

Note 4 - Securities Available26

Note 4 - Securities Available-for-Sale - Amortized Cost and Estimated Fair Value of Securities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Unrealized Loss	$ (14)
Estimated Fair Value	17,205	16,201
Amortized Cost	17,219	16,201
Unrealized Gain
Within One Year [Member]
Unrealized Loss	(14)
Estimated Fair Value	17,205	16,201
Amortized Cost	17,219	16,201
Unrealized Gain
After One Year [Member]
Unrealized Loss
Estimated Fair Value
Amortized Cost
Unrealized Gain

Note 5 - Fair Value Measureme27

Note 5 - Fair Value Measurement and Financial Instruments (Details Textual) - USD ($) $ in Thousands	Aug. 26, 2016	May 11, 2016	Jun. 30, 2017	Dec. 31, 2016
Assets, Fair Value Disclosure, Recurring			$ 23,533	$ 28,453
Class of Warrant or Right, Issued During Period		1,785,714
Warrants, Issued on May 11, 2016 [Member]
Class of Warrant or Right, Outstanding			10,000
Warrants, Issued on August 26, 2016 [Member]
Class of Warrant or Right, Issued During Period	5,606,250

Note 5 - Fair Value Measureme28

Note 5 - Fair Value Measurement and Financial Instruments - Assets and Liabilities Measured at Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Liability Fair Value	$ 10,162	$ 13,453
Asset Fair Value	23,533	28,453
Warrant Liability [Member]
Liability Fair Value	10,162	13,396
Stock-based Compensation Liability [Member]
Liability Fair Value		57
Fair Value, Inputs, Level 1 [Member]
Liability Fair Value
Asset Fair Value	5	57
Fair Value, Inputs, Level 1 [Member] | Warrant Liability [Member]
Liability Fair Value
Fair Value, Inputs, Level 1 [Member] | Stock-based Compensation Liability [Member]
Liability Fair Value
Fair Value, Inputs, Level 2 [Member]
Liability Fair Value
Asset Fair Value	23,528	28,396
Fair Value, Inputs, Level 2 [Member] | Warrant Liability [Member]
Liability Fair Value
Fair Value, Inputs, Level 2 [Member] | Stock-based Compensation Liability [Member]
Liability Fair Value
Fair Value, Inputs, Level 3 [Member]
Liability Fair Value	10,162	13,453
Asset Fair Value
Fair Value, Inputs, Level 3 [Member] | Warrant Liability [Member]
Liability Fair Value	10,162	13,396
Fair Value, Inputs, Level 3 [Member] | Stock-based Compensation Liability [Member]
Liability Fair Value		57
Money Market Funds [Member]
Asset Fair Value	5	57
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Asset Fair Value	5	57
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Asset Fair Value
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Asset Fair Value
Commercial Paper [Member]
Asset Fair Value	9,968	16,085
Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member]
Asset Fair Value
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
Asset Fair Value	9,968	16,085
Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member]
Asset Fair Value
US Government-sponsored Enterprises Debt Securities [Member]
Asset Fair Value	13,560	12,311
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Asset Fair Value
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Asset Fair Value	13,560	12,311
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Asset Fair Value

Note 5 - Fair Value Measureme29

Note 5 - Fair Value Measurement and Financial Instruments - Fair Value Assumptions, Warrant Liability (Details) - Warrant Liability [Member] - $ / shares	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Warrants, Issued on May 11, 2016 [Member]
Exercise price (in dollars per share)	$ 1.40	$ 1.40	$ 1.40
Risk-free interest rate	1.73%	1.69%	1.78%
Volatility	147.06%	141.12%	144.25%
Dividend yield	0.00%	0.00%	0.00%
Expected life in years (Year)	4 years 40 days	3 years 313 days	4 years 131 days
Calculated fair value per warrant (in dollars per share)	$ 2.57	$ 1.92	$ 2.55
Stock price (in dollars per share)	2.83	2.20	2.80
Warrants, Issued on August 26, 2016 [Member]
Exercise price (in dollars per share)	$ 4	$ 4	$ 4
Risk-free interest rate	1.80%	1.74%	1.85%
Volatility	143.07%	145.52%	140.47%
Dividend yield	0.00%	0.00%	0.00%
Expected life in years (Year)	4 years 149 days	4 years 58 days	4 years 237 days
Calculated fair value per warrant (in dollars per share)	$ 2.40	$ 1.81	$ 2.38
Stock price (in dollars per share)	$ 2.83	$ 2.20	$ 2.80

Note 5 - Fair Value Measureme30

Note 5 - Fair Value Measurement and Financial Instruments - Fair Value Reconciliation of Warrant Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Fair value of warrants exercised recorded as an adjustment to contributed surplus		$ (1,048)
Change in fair value warrant liability	(3,234)	1,619
Warrant Liability [Member] | Fair Value, Inputs, Level 3 [Member]
Balance	13,396
Calculated fair value of the warrants on date of issuance		1,687
Fair value of warrants exercised recorded as an adjustment to contributed surplus		1,048
Change in fair value warrant liability	(3,234)	1,619
Balance	$ 10,162	$ 2,258

Note 5 - Fair Value Measureme31

Note 5 - Fair Value Measurement and Financial Instruments - Fair Value Assumptions, Stock-based Compensation Liability (Details) - Stock-based Compensation Liability [Member] - Fair Value, Inputs, Level 3 [Member] - $ / shares	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Stock price (in dollars per share)	$ 2.83	$ 2.20	$ 2.80
Exercise price (in dollars per share)	$ 11.14	$ 11.16	$ 11.06
Risk-free interest rate	1.03%	1.24%	0.85%
Volatility	80.71%	33.13%	120.81%
Dividend yield	0.00%	0.00%	0.00%
Expected life in years (Year)	222 days	138 days	310 days
Calculated fair value per warrant (in dollars per share)	$ 0.13	$ 0	$ 0.33

Note 5 - Fair Value Measureme32

Note 5 - Fair Value Measurement and Financial Instruments - Fair Value Reconciliation of Stock-based Compensation Liability (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Change in the fair value of stock-based compensation liability recorded to contributed surplus	$ (23,000)	$ (19,000)	$ (57,000)	$ (66,000)
Stock-based Compensation Liability [Member] | Fair Value, Inputs, Level 3 [Member]
Balance			57,000	168,000
Change in the fair value of stock-based compensation liability recorded to contributed surplus			(57,000)	(66,000)
Balance		$ 102,000		$ 102,000

Note 6 - Prepaid Expenses (Deta

Note 6 - Prepaid Expenses (Details Textual) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Upfront Fees Included in Prepaid Researchs and Development Expenses	$ 0.7	$ 0.5

Note 6 - Prepaid Expenses - Com

Note 6 - Prepaid Expenses - Components of Prepaid Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Prepaid insurance	$ 53	$ 273
Prepaid research and development expenses	779	546
Other prepaid expenses	116	27
Prepaid expenses	$ 948	$ 846

Note 7 - Accrued Expenses - Com

Note 7 - Accrued Expenses - Components of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accrued personnel related costs	$ 547	$ 1,491
Accrued research and development expenses	315	87
Other accrued expenses	88	55
Accrued expenses	1,154	1,762
Accrued Audit and Tax Services [Member]
Accrued audit and tax services	$ 204	$ 129

Note 8 - Promissory Notes (Deta

Note 8 - Promissory Notes (Details Textual) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Oxford New Loan [Member]
Interest Paid	$ 0.1	$ 0.2

Note 9 - Stock-based Compensa37

Note 9 - Stock-based Compensation Plan (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares	122,665
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $	$ 1.5
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 73 days

Note 9 - Stock-based Compensa38

Note 9 - Stock-based Compensation Plan - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock-based compensation expense	$ 465	$ 95	$ 867	$ 185
Research and Development Expense [Member]
Stock-based compensation expense	130	37	255	69
General and Administrative Expense [Member]
Stock-based compensation expense	$ 335	$ 58	$ 612	$ 116

Note 9 - Stock-based Compensa39

Note 9 - Stock-based Compensation Plan - Stock Option Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Options outstanding (in shares) | shares	2,868
Weighted average exercise price - options outstanding (in dollars per share) | $ / shares	$ 3.63
Options granted (in shares) | shares	85
Weighted average exercise price - options granted (in dollars per share) | $ / shares	$ 2.45
Options exercised (in shares) | shares	(3)
Weighted average exercise price- options exercised (in dollars per share) | $ / shares	$ 0.4589
Options expired (in shares) | shares	(7)
Weighted average exercise price - options expired (in dollars per share) | $ / shares	$ 24.40
Options forfeited (in shares) | shares	(55)
Weighted average exercise price - options forfeited (in dollars per share) | $ / shares	$ 2.23
Options outstanding (in shares) | shares	2,888
Weighted average exercise price - options outstanding (in dollars per share) | $ / shares	$ 3.58

Note 9 - Stock-based Compensa40

Note 9 - Stock-based Compensation Plan - Fair Value of Options Granted (Details)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Expected life of the option term (years) (Year)	4 years 36 days	3 years 292 days
Risk-free interest rate	1.61%	1.19%
Dividend rate	0.00%	0.00%
Volatility	144.80%	147.80%
Forfeiture rate	0.00%	3.40%