Resonant (RESN) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 09, 2018
Document and Entity Information
Entity Registrant Name	Resonant Inc
Entity Central Index Key	1,579,910
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		26,650,166

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 7,767,000	$ 19,524,000
Accounts receivable	145,000	50,000
Prepaid expenses and other current assets	523,000	536,000
Restricted cash	0	100,000
Investments held-to-maturity	25,085,000	0
TOTAL CURRENT ASSETS	33,520,000	20,210,000
PROPERTY AND EQUIPMENT
Property and equipment	3,399,000	3,212,000
Less: Accumulated depreciation and amortization	(2,019,000)	(1,858,000)
PROPERTY AND EQUIPMENT, NET	1,380,000	1,354,000
NONCURRENT ASSETS
Intangible assets, net	1,381,000	1,353,000
Goodwill	842,000	824,000
Deferred income taxes	3,000	0
Other assets	19,000	19,000
TOTAL OTHER NONCURRENT ASSETS	2,245,000	2,196,000
TOTAL ASSETS	37,145,000	23,760,000
CURRENT LIABILITIES
Accounts payable	900,000	708,000
Accrued expenses	140,000	314,000
Accrued salaries and payroll related expenses	1,265,000	1,936,000
Customer deposits	130,000	0
Deferred revenue, current	148,000	143,000
TOTAL CURRENT LIABILITIES	2,583,000	3,101,000
LONG-TERM LIABILITIES
Deferred rent	13,000	10,000
Deferred income taxes	0	1,000
TOTAL LIABILITIES	2,596,000	3,112,000
Commitments and contingencies (Note 8)	0	0
STOCKHOLDERS’ EQUITY
Common stock, $0.001 par value, 47,000,000 authorized and 19,511,276 outstanding as of December 31, 2017, and 25,668,293 outstanding as of March 31, 2018	26,000	20,000
Preferred stock, $0.001 par value, 3,000,000 authorized and none outstanding as of December 31, 2017 and March 31, 2018	0	0
Additional paid-in capital	107,973,000	88,447,000
Accumulated other comprehensive income (loss)	14,000	(7,000)
Accumulated deficit	(73,464,000)	(67,812,000)
TOTAL STOCKHOLDERS’ EQUITY	34,549,000	20,648,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 37,145,000	$ 23,760,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	47,000,000	47,000,000
Common stock, shares outstanding	25,668,293	19,511,276
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
REVENUES	$ 157,000	$ 156,000
OPERATING EXPENSES
Research and development	3,254,000	2,240,000
General and administrative	2,665,000	2,844,000
TOTAL OPERATING EXPENSES	5,919,000	5,084,000
NET OPERATING LOSS	(5,762,000)	(4,928,000)
OTHER INCOME, NET
Interest and investment income	48,000	9,000
Other expense	(2,000)	0
TOTAL OTHER INCOME, NET	46,000	9,000
LOSS BEFORE INCOME TAXES	(5,716,000)	(4,919,000)
Benefit from income taxes	0	(25,000)
NET LOSS	(5,716,000)	(4,894,000)
Foreign currency translation adjustment, net of tax	(21,000)	18,000
COMPREHENSIVE LOSS	$ (5,737,000)	$ (4,876,000)
NET LOSS PER SHARE - BASIC AND DILUTED (in dollars per share)	$ (0.28)	$ (0.37)
Weighted average shares outstanding-basic and diluted (in shares)	20,176,372	13,393,190

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity
Cumulative effect due to adoption of new accounting standard, net of taxes				$ 64,000
Balance (in shares) at Dec. 31, 2017	19,511,276	19,511,276
Beginning Balance at Dec. 31, 2017	$ 20,648,000	$ 20,000	$ 88,447,000	(67,812,000)	$ (7,000)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock for compensation (in shares)		184,818
Stock-based compensation	1,108,000		1,108,000
Sales of common stock, net of offering costs (in shares)		5,714,286
Sales of common stock, net of offering costs	18,381,000	$ 6,000	18,375,000
Exercise of warrants, cashless (in warrants)		15,000
Exercise of warrants	$ 43,000		43,000
Common stock issued in exchange for warrants (in shares)	242,913
Net loss	$ (5,716,000)			(5,716,000)
Foreign currency translation adjustments, net of tax	$ 21,000				21,000
Balance (in shares) at Mar. 31, 2018	25,668,293	25,668,293
Ending Balance at Mar. 31, 2018	$ 34,549,000	$ 26,000	$ 107,973,000	$ (73,464,000)	$ 14,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (5,716,000)	$ (4,894,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	195,000	188,000
Deferred tax benefit	0	(26,000)
Stock-based compensation	963,000	693,000
Non-cash patent write-off	8,000	0
Changes in assets and liabilities:
Accounts receivable	(95,000)	11,000
Prepaids and other current assets	80,000	(63,000)
Restricted cash	(100,000)	0
Other assets	0	(14,000)
Accounts payable	403,000	123,000
Accrued expenses	(79,000)	43,000
Accrued salaries and payroll related expenses	(526,000)	(8,000)
Customer deposits	130,000	0
Deferred revenue	0	(36,000)
Deferred taxes	(3,000)	7,000
Deferred rent	(3,000)	0
Net cash used in operating activities	(4,737,000)	(3,990,000)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(519,000)	(233,000)
Expenditures for patents and domain names	(43,000)	(125,000)
Redemption of investments held-to-maturity	0	4,747,000
Purchase of investments held-to-maturity	(24,985,000)	0
Net cash provided by (used in) investing activities	(25,547,000)	4,389,000
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from the sale of common stock from private placement offering	0	7,471,000
Net proceeds from the sale of common stock from underwritten public offering	18,381,000	0
Proceeds from exercise of warrants	43,000	0
Net cash provided by financing activities	18,424,000	7,471,000
Effects of exchange rates on cash, cash equivalents and restricted cash	3,000	3,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(11,857,000)	7,873,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period	19,624,000	5,184,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — End of period	7,767,000	13,057,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Taxes Paid	3,000	1,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES
Issuance of common stock in settlement of liability	0	119,000
Stock options issued in settlement of liability	0	332,000
Restricted stock units issued in settlement of liability	436,000	0
Prepaids included in accounts payable	0	43,000
Property and equipment included in accounts payable	8,000	3,000
Patents included in accounts payable	35,000	36,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Total cash, cash equivalents and restricted cash	$ 19,624,000	$ 5,184,000

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	ORGANIZATION AND DESCRIPTION OF BUSINESS Overview Resonant Inc. is a late-stage development company located in Goleta, California. We were incorporated in Delaware in January 2012 as a wholly owned subsidiary of Superconductor Technologies Inc., or STI, but had not conducted any operations through June 16, 2013. Resonant LLC, a limited liability company, was formed in California in May 2012. We commenced business on July 6, 2012 with initial contributions from our founders and STI. We changed our form of ownership from a limited liability company to a corporation in an exchange transaction in June 2013. We are the successor of Resonant LLC. We completed our initial public offering, or IPO, on May 29, 2014. We acquired all of the issued and outstanding capital stock of GVR Trade S.A, or GVR, on July 6, 2016. GVR is a wholly owned subsidiary of Resonant Inc. We have created an innovative software, intellectual property, or IP, and services platform that has the ability to increase designer efficiency, reduce the time to market and lower unit costs in the designs of filters for radio frequency, or RF, front-ends for the mobile device industry. The RF front-end, or RFFE, is the circuitry in a mobile device responsible for analog signal processing and is located between the device’s antenna and its digital circuitry. The software platform we are developing is based on fundamentally new technology that we call Infinite Synthesized Networks ® , or ISN ® , to configure and connect resonators, the building blocks of RF filters. Filters are a critical component of the RF front-end used to select desired radio frequency signals and reject unwanted signals. Our ISN ® platform allows us to develop unique, custom designs that address the increasing complexity of the RFFE due to carrier aggregation (the combining of multiple frequencies into a single data stream to increase throughput through higher data rates), or CA, by both reducing the size of the filter and improving performance. Our goal is to utilize our ISN ® platform to support our customers in reducing their time to develop complex filter and module designs, to access new classes of filter designs, and to do it more cost effectively. Additionally, our ISN ® platform has allowed us to expand our customer focus beyond just filter manufacturers by enabling a new class of customer - fabless filter manufacturers. These companies do not have their own internal filter fabrication facility, or Fab, and typically already would be supplying other products in the RFFE to the OEMs and as a result do not require a protracted, new vendor, qualification process in order to supply parts. It is through our existing customer relationships that we are able to facilitate these third-party Fab relationships, that leverage our ISN ® tools to deliver cutting edge filter designs to these fabless filter customers. We are commercializing our technology through the creation of filter designs that address the problems in the high growth RFFE industry created by the growing number of frequency bands in mobile devices. The worldwide adoption of Long Term Evolution, or LTE, as the global standard, and the use of mobile devices to access the Internet, has resulted in massive proliferation of frequency bands which, when combined with CA for higher data rates and multiple input multiple output, or MIMO, has resulted in an ever-increasing number and complexity of filters in the RFFE. We have developed and continue to expand a series of single-band designs for frequency bands presently dominated by larger and more expensive bulk acoustic wave, or BAW, filters. We are also developing multiplexer filter designs for two or more bands to address the CA requirements of our customers. We are using our ISN ® platform to efficiently integrate these designs into RF modules for our module customers. Finally, we are developing unique filter designs, enabled by ISN ® , to replace multiple filters and associated componentry for many bands, with higher performance. Currently, we are leveraging ISN ® to develop these designs targeted for either the Surface Acoustic Wave (SAW) or Temperature Compensated, Surface Acoustic Wave (TC-SAW) manufacturing processes. In order to succeed, we must convince RFFE suppliers that our filter designs can significantly reduce the size and cost of their products. We believe licensing our designs is the most direct and effective means of validating our ISN ® platform and related IP libraries to address this rapidly growing market. Our target customers make part or all of the RFFE. We intend to retain ownership of our designs, and we expect to be compensated through license fees and royalties based on sales of RFFE filters that incorporate our designs. We currently do not intend to manufacture or sell any physical products or operate as a contract design company developing designs for a fee. Capital Resources and Liquidity We are using the net proceeds from the sales of our common stock for product development to commercialize our technology, research and development, the development of our patent strategy and expansion of our patent portfolio, as well as for working capital and other general corporate purposes. Our costs include employee salaries and benefits, compensation paid to consultants, capital costs for research and other equipment, costs associated with development activities including travel and administration, legal expenses, sales and marketing costs, general and administrative expenses, and other costs associated with a late-stage development, publicly-traded technology company. However, this is highly dependent on the nature of our development efforts and our success in commercialization. We continue to add employees for research and development, as well as general and administrative functions, to support our efforts. Additionally, we continue to incur consulting expenses related to technology development and other efforts as well as legal and related expenses to protect our intellectual property. The amounts that we actually spend for any specific purpose may vary significantly and will depend on a number of factors including, but not limited to, our expected cash resources, the pace of progress of our commercialization and development efforts, actual needs with respect to product testing, research and development, market conditions, and changes in or revisions to our marketing strategies. In addition, we may invest in complementary products, technologies or businesses. We have earned minimal revenues since inception, and our operations have been funded with initial capital contributions and proceeds from the sale of equity securities and debt. At December 31, 2017 and March 31, 2018 , we had incurred accumulated losses of $67.8 million and $73.5 million , respectively. The losses are primarily the result of research and development costs associated with commercializing our technology, combined with start-up, financing and public company costs. We expect to continue to incur substantial costs for commercialization of our technology on a continuous basis because our business model involves developing and licensing custom filter designs. Our condensed consolidated financial statements account for the continuation of our business as a going concern. We are subject to the risks and uncertainties associated with a new business. Our principal source of liquidity as of March 31, 2018 consists of existing cash and cash equivalents of $7.8 million . Additionally, we have $25.1 million in investments, which includes $18.4 million of net proceeds we raised in the first quarter of 2018 in an underwritten public offering of common stock. In April 2018, we completed the sale of the overallotment of shares in the underwritten public offering, resulting in additional net proceeds of $2.8 million . In the first three months of 2018 , we used approximately $5.2 million in cash and investments. Due to these conditions, substantial doubt exists as to our ability to continue as a going concern. After evaluation of these conditions, we believe our current resources, in the absence of material revenues, will provide sufficient funding for planned operations into the second half of 2019 . If necessary, we will seek to raise additional capital from the sale of equity securities or the incurrence of indebtedness to allow us to continue operations. There can be no assurance that additional financing will be available to us on acceptable terms, or at all. Additionally, if we issue additional equity securities to raise funds, whether to existing investors or others, the ownership percentage of our existing stockholders would be reduced. New investors may demand rights, preferences or privileges senior to those of existing holders of common stock. Additionally, we may be limited as to the amount of funds we can raise pursuant to SEC rules and the continued listing requirements of NASDAQ. If we cannot raise needed funds, we might be forced to make substantial reductions in our operating expenses, which could adversely affect our ability to implement our business plan and ultimately our viability as a company. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from this uncertainty.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates —The accompanying condensed consolidated financial statements at March 31, 2018 and for the three months ended March 31, 2017 and 2018 are unaudited, but include all adjustments, consisting of normal recurring entries, that management believes to be necessary for a fair presentation of the periods presented. Prior period figures have been reclassified, wherever necessary, to conform to current presentation. Interim results are not necessarily indicative of results for a full year. Balance sheet amounts as of December 31, 2017 have been derived from our audited consolidated financial statements as of that date. The condensed consolidated financial statements included herein have been prepared by us pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, have been condensed or omitted pursuant to such rules and regulations. The financial statements should be read in conjunction with our audited consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017 . Our operating results will fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not be relied upon as predictive of the results in future periods. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Significant estimates made in preparing these financial statements include (a) assumptions to calculate the fair values of financial instruments, warrants and equity instruments and other liabilities and the deferred tax asset valuation allowance and (b) the useful lives for depreciable and amortizable assets. Actual results could differ from those estimates. In the opinion of management, all adjustments, including normal recurring accruals considered necessary for a fair presentation, have been included. Consolidation —The accompanying financial statements include the accounts of the Company and its wholly-owned subsidiary, GVR Trade, S.A. All significant intercompany balances and transactions have been eliminated. Cash and Cash Equivalents —We consider all liquid instruments purchased with a maturity of three months or less to be cash equivalents. Concentration of Credit Risk —We maintain checking accounts at one U.S. financial institution. The U.S. bank accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account owner. GVR Trade S.A., our wholly owned Swiss-based subsidiary maintains checking accounts at one major national financial institution. Additionally, we maintain a checking account with a very minimal balance at one bank in South Korea, which is used to fund payroll and rent in South Korea. Management believes we are not exposed to significant credit risk due to the financial position of the depository institutions in which our deposits are held. Restricted Cash —Restricted cash at December 31, 2017 consisted of a $100,000 certificate of deposit with a financial institution, which served as collateral for our corporate credit cards. During the quarter ended March 31, 2018 we terminated the corporate credit card program for which the certificate of deposit was held as collateral and thus the restriction was lifted. We have no restricted cash balances as of March 31, 2018 . Investments —Securities held-to-maturity: Management determines the appropriate classification of securities at the time of purchase and reevaluates such designation as of each balance sheet date. Investment/debt securities are classified as held-to-maturity when we have the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in investment income. Interest on securities classified as held-to-maturity is included in investment income. When the fair value of an investment instrument classified as held-to-maturity is less than its amortized cost, management assesses whether or not: (i) we have the intent to sell the instrument or (ii) it is more likely than not that we will be required to sell the instrument before its anticipated recovery. If either of these conditions is met, we must recognize an other-than-temporary impairment for the difference between the instrument’s amortized cost basis and its fair value, and include such amounts in net securities gains (losses). For investment instruments that do not meet the above criteria and are not expected to be recovered at the amortized cost basis, the instrument is considered other-than-temporarily impaired. For these instruments, we separate the total impairment into the credit loss component and the amount of the loss related to other factors. In order to determine the amount of the credit loss, we calculate the recovery value by performing a discounted cash flow analysis based on the current cash flows and future cash flows management expects to recover. The discount rate is the effective interest rate implicit in the underlying instrument. The amount of the total other-than-temporary impairment related to credit loss is recognized in earnings and is included in net securities gains (losses). The amount of the total other-than-temporary impairment related to other factors is recognized in other comprehensive income. For investment instruments that have other-than-temporary impairment recognized through earnings, if through subsequent evaluation there is a significant increase in the cash flow expected, the difference between the amortized cost basis and the cash flows expected to be collected is accreted as interest income. From January through March 2017 , we invested in commercial papers and certificates of deposit that were classified as held-to-maturity. As of March 31, 2017 , all of the investments had matured and there were no investments classified as held-to-maturity. During the quarter ended March 31, 2017 , we recorded investment income of $8,000 associated with the investments that matured during the quarter. During the first quarter of 2018 , we invested in U.S. Treasury bills and a certificate of deposit that were classified as investments held-to-maturity. Additionally, we maintained money market fund balances that were classified as cash and cash equivalents. As of March 31, 2018 , the amortized cost value and fair value are $25.1 million with zero unrealized gain or loss. The U.S. Treasury bills, totaling $25.0 million mature in April 2018 and the certificate of deposit for $100,000 matures in January 2019 . We have not recognized an other-than-temporary impairment gain or loss or a comprehensive gain or loss-to-date. For the three months ended March 31, 2018 , we recorded interest and investment income of $48,000 associated with our cash and investment accounts. Fair Value of Financial Instruments —We measure certain financial assets and liabilities at fair value based on the exit price notion, or price that would be received for an asset or paid to transfer a liability, in an orderly transaction between the market participants at the measurement date. The carrying amounts of our financial instruments, including cash equivalents, restricted cash, investments held-to-maturity, accounts payable, and accrued liabilities, approximate fair value due to their short maturities. Accounts Receivable —Trade accounts receivable are stated net of allowances for doubtful accounts. Management estimates the allowance for doubtful accounts based on review and analysis of specific customer balances that may not be collectible, customer payment history and any other customer-specific information that may impact ability to collect the receivable. Accounts are considered for write-off when they become past due and when it is determined that the probability of collection is remote. There was no allowance for doubtful accounts at December 31, 2017 and March 31, 2018 . Property and Equipment —Property and equipment consists of leasehold improvements associated with our corporate offices, software purchased during the normal course of business, equipment and office furniture and fixtures, all of which are recorded at cost. Depreciation and amortization is recorded using the straight-line method over the respective useful lives of the assets ranging from three to five years. Leasehold improvements are amortized over the shorter of lease term or useful life. Long-lived assets are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. Intangible Assets, net —Intangible assets are recorded at cost and amortized over the useful life. In the case of business combinations, intangible assets are recorded at fair value. At December 31, 2017 and March 31, 2018 , intangible assets, net, includes patents and a domain name and other intangible assets purchased as part of our acquisition of GVR, including customer relationships, technology and a trademark. Intangible assets are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. Goodwill— At December 31, 2017 and March 31, 2018 , goodwill represents the difference between the price paid to acquire GVR and the fair value of the assets acquired, net of assumed liabilities. We review goodwill for impairment annually and whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. Revenue Recognition —As of January 1, 2018, we recognize revenue in accordance with the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 606, Revenue from Contracts with Customers. Revenue is recognized upon the transfer of control of promised goods or services to the customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Revenue consists primarily of fees received in connection with filter design projects with customers. Our performance obligation is to design a licensable filter in accordance with customer specifications. The license of the completed design is considered part of this performance obligation as the design and licensing of the filter are highly interdependent. We recognize revenue over the course of the design development phase as our customers are able to benefit from our design services as they are provided, primarily by marketing the in-process design to their customers. We recognize revenue from our design services based on efforts expended to date. At the end of each reporting period, we reassess our measure of progress and adjust revenue when appropriate. In most cases, our design services are performed over a period of six to twelve months. Contracts generally include upfront non-refundable fees, intended to support our initial engineering product development efforts, as well as milestone payments based upon the successful completion of certain deliverables. Milestone payments represent variable consideration, and we use the "most likely amount" approach to determine the amount we ultimately expect to receive. At contract inception, we assess the likelihood of achieving milestones to estimate the total consideration we believe we will receive for our services. Our design service contracts also include a functional license over the completed design, which enables our customer to use our design in products marketed to their customers. We also earn royalties for each product shipped by our customer that incorporates one of our designs. Royalty fees are recorded upon shipment by our customer, and payment is generally due within 30 days. We record the expenses related to these projects in the periods incurred and they are generally included in research and development expense. During the three months ended March 31, 2017 and March 31, 2018 , we recorded revenue of $156,000 and $157,000 , respectively. As of March 31, 2018 , we have recorded $148,000 in deferred revenue. See Note 3- Revenue Recognition, for further details. Research and Development —Costs and expenses that can be clearly identified as research and development are charged to expense as incurred in accordance with ASC Topic 730-10, Research and Development . Operating Leases —We lease office space and research facilities under operating leases. Certain lease agreements contain free or escalating rent payment provisions. We recognize rent expense under such leases on a straight-line basis over the term of the lease. Lease renewal periods are considered on a lease-by-lease basis in determining the lease term. Stock-Based Compensation —We account for employee stock options in accordance with ASC Topic 718, Compensation-Stock Compensation . For stock options issued to employees and directors we use the Black-Scholes option valuation model for estimating fair value at the date of grant. For stock options issued for services rendered by non-employees, we recognize compensation expense in accordance with the requirements of ASC Topic 505-50 , Equity , or ASC 505-50, as amended. Non-employee option grants that do not vest immediately upon grant are recorded as an expense over the vesting period. At the end of each financial reporting period prior to performance, the value of these options, as calculated using the Black-Scholes option valuation model, is determined, and compensation expense recognized or recovered during the period is adjusted accordingly. Since the fair market value of options granted to non-employees is subject to change in the future, the amount of the future compensation expense is subject to adjustment until the common stock options or warrants are fully vested. We account for restricted stock units issued to employees at fair value, based on the market price of our stock on the date of grant, net of estimated forfeitures. Compensation expense is recognized for the portion of the award that is ultimately expected to vest over the period during which the recipient renders the required services to the Company generally using the straight-line single option method. The fair value of non-employee restricted stock units awarded are remeasured as the awards vest, and the resulting increase or decrease in fair value, if any, is recognized as an increase or decrease to compensation expense in the period the related services are rendered. In the case of award modifications, we account for the modification by recognizing the effect of the modification in the period the award was modified. Stock-based compensation expense is included in research and development expenses and general and administrative expenses. Earnings Per Share, or EPS —EPS is computed in accordance with ASC Topic 260, Earnings per Share , and is calculated using the weighted average number of common shares outstanding during each period. Diluted EPS assumes the conversion, exercise or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method), the exercise of warrants (using the if-converted method) and the vesting of restricted stock unit awards. The following table presents the number of shares excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods below: Three Months Ended March 31, 2017 2018 Common stock warrants 4,491,568 3,465,256 Common stock options 904,798 1,080,152 Non-vested restricted stock unit awards 1,401,903 1,555,769 Total shares excluded from net loss per share attributable to common stockholders 6,798,269 6,101,177 Income Taxes —We account for income taxes in accordance with ASC Topic 740, Income Taxes , or ASC 740, which requires the recognition of deferred tax assets and liabilities for the future consequences of events that have been recognized in our condensed consolidated financial statements or tax returns. The measurement of the deferred items is based on enacted tax laws. In the event the future consequences of differences between financial reporting bases and the tax bases of our assets and liabilities result in a deferred tax asset, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such asset. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion or the entire deferred tax asset will not be realized. As part of the process of preparing our consolidated financial statements, we are required to estimate our income tax expense in each of the jurisdictions in which we operate. We also assess temporary differences resulting from differing treatment of items for tax and accounting differences. We record a valuation allowance to reduce the deferred tax assets to the amount of future tax benefit that is more likely than not to be realized. For the period when we were organized as a limited liability company, we were treated as a partnership for federal and state income tax purposes under the entity classification domestic default rules. As of December 31, 2017 and March 31, 2018 , no liability for unrecognized tax benefits was required to be reported. We recognize interest and penalties related to income tax matters in income taxes, and there were none for the three months ended March 31, 2017 and March 31, 2018 , respectively. We have filed, or are in the process of filing, tax returns that are subject to audit by the respective tax authorities. Although the ultimate outcome would be unknown, we believe that any adjustments that may result from tax return audits are not likely to have a material, adverse effect on our consolidated results of operations, financial position or cash flows. Reclassifications —Certain amounts in the condensed consolidated statement of operations for the three months ended March 31, 2017 have been reclassified to conform to the current year presentation. Business Combinations— We record business combinations using the acquisition method of accounting and, accordingly, allocate the fair value of purchase consideration to the assets acquired and liabilities assumed based on their fair values at the acquisition date. The excess of the fair value of the purchase consideration over the fair value of the assets acquired and liabilities assumed is recorded as goodwill. The results of operations of the business acquired are included in our consolidated results of operations beginning on the date of acquisition. Foreign Currency Translation —The Swiss Franc has been determined to be the functional currency for the net assets of our Swiss-based subsidiary. We translate the assets and liabilities to U.S. dollars at each reporting period using exchange rates in effect at the balance sheet date and record the effects of the foreign currency translation in accumulated other comprehensive income (loss) in shareholders' equity. We translate the income and expenses to U.S. dollars at each reporting period using the average exchange rate in effect for the period and record the effects of the foreign currency translation as other comprehensive income (loss) in the consolidated statements of comprehensive loss. Gains and losses resulting from foreign currency transactions are included in net loss in the consolidated statements of comprehensive loss. Recent Accounting Pronouncements Revenue from Contracts with Customers— In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update became effective for all annual periods and interim reporting periods beginning after December 15, 2017. We adopted Topic 606 as of January 1, 2018 using the modified retrospective method. See Note 3 - Revenue Recognition , for further details. Leases— In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , a comprehensive new leases standard that amends various aspects of existing accounting guidance for leases. It will require recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous U.S. GAAP and the amended standard is the recognition of lease assets and lease liabilities by lessees on the balance sheet for those leases classified as operating leases under previous U.S. GAAP. The accounting applied by a lessor is largely unchanged from that applied under previous U.S. GAAP. As a result, we will have to recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing our right to use the underlying asset for the lease term on the balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. We are currently reviewing the two leases we have and are evaluating the effects of the new guidance on our consolidated financial statements. We do not expect it to have a material impact on our consolidated financial statements. Intangibles-Goodwill and Other— In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the accounting for goodwill impairments by eliminating step 2 from the goodwill impairment test. The amended guidance will become effective for us commencing in the first quarter of fiscal 2019. We are currently evaluating the impact of this new standard. Compensation-Stock Compensation— In May 2017, the FASB issued ASU No. 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting , which provides clarity over the accounting for a change to the terms or conditions of a share-based payment award. The amendments in the update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments in this update should be applied prospectively to an award modification on or after the adoption date. This guidance became effective for us on January 1, 2018 and will be applied to all future share-based award modifications. Restricted Cash - In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) . The objective of this update is to provide additional guidance and reduce diversity in practice when classifying certain transactions within the statement of cash flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . This new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. These standards are effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company adopted these standards in the first quarter of 2018 utilizing the retrospective transition method. Financial Instruments - Overall - In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10) , which provides significant update to the recognition, measurement, presentation and disclosures of financial instruments. The amendments in the update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. This guidance became effective for us, and was adopted, on January 1, 2018. The impact of this guidance primarily related to disclosures around our investments held-to-maturity, which are recorded at amortized cost value and subject to fair value disclosures. The guidance requires us to disclose the fair value of the financial instruments using the exit price notion, which is the price that would be received in a sale of the asset in an orderly transaction between the market participants at the measurement date. The required disclosures are included in Note 2 - Summary of Significant Accounting Polices .

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Disaggregation of Revenue [Abstract]
Revenue recognition	REVENUE RECOGNITION On January 1, 2018, we adopted ASC Topic 606, Revenue from Contracts with Customers, and all of the related amendments and applied it to all contracts using the modified retrospective method. We recognized the cumulative effect of the initial adoption as an adjustment to the opening balance of retained earnings. Comparative financial information has not been restated and continues to be reported under the accounting standards in effect for those periods. The adoption of the guidance resulted in a change in the accounting for milestone payments. Previously, we recognized revenue upon the achievement of a milestone. Under ASC Topic 606, milestone payments are treated as variable consideration and included in the transaction price for our design services. The cumulative effect of the changes made to our condensed consolidated balance sheet as of January 1, 2018 for the adoption of the new standard was as follows: BALANCE SHEET Balance at December 31, 2017 Adjustments Due to ASC 606 Balance at January 1, 2018 ASSETS Prepaid expenses and other current assets $ 536,000 $ 67,000 $ 603,000 LIABILITIES AND STOCKHOLDERS' EQUITY Deferred Revenue, current $ 143,000 $ (3,000 ) $ 140,000 Retained Earnings $ (67,812,000 ) $ 64,000 $ (67,748,000 ) The following table summarizes the impact of the adoption on our Condensed Consolidated Balance Sheet and Condensed Consolidated Statement of Comprehensive Loss as of March 31, 2018: March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Increase/(Decrease) BALANCE SHEET ASSETS Prepaid expenses and other current assets $ 523,000 $ 496,000 $ 27,000 LIABILITIES AND STOCKHOLDERS' EQUITY Deferred revenue, current $ 148,000 $ 137,000 $ 11,000 Accumulated deficit $ (73,464,000 ) $ (73,480,000 ) $ 16,000 March 31, 2018 As Reported Activity Without Adoption of ASC 606 Effect of Change Increase/(Decrease) STATEMENT OF COMPREHENSIVE LOSS Revenue $ 157,000 $ 205,000 $ (48,000 ) Net loss $ (5,716,000 ) $ (5,668,000 ) $ 48,000 Our contracts with customers primarily relate to the design of filters for radio frequency, or RF, front-ends for the mobile device industry. Design service contracts generally include a modest upfront payment for the design services and a license over the completed design. We retain ownership of our designs, and therefore are also compensated for our design services through royalties based on sales of RFFE filters that incorporate our designs. We currently do not manufacture or sell any physical products or operate as a contract design company developing designs for a fee. Except for the royalty fees that are recognized as revenue upon use of one of our designs, we recognize revenue related to our design services over the estimated design completion time, on a straight-line basis, as the services are performed. The design development period is typically less than one year. Other Judgments and Assumptions - We apply the practical expedients available in ASC 606 to not disclose information about 1) remaining performance obligations that have original expected durations of one year or less and 2) variable consideration that is a sales-based or usage-based royalty. Royalty Revenue - Upon completion of design services, our customers retain a license over the completed design. The license will typically last for a minimum of two years, and in many cases for the life of the design. Royalties are sales-based, and we recognize royalty revenue upon shipment, by our customer, of products that include our licensed design. In some cases, we will receive a reduced royalty amount due to value add, or other taxes, associated with the royalty. Taxes related to royalties are netted against revenues. Contract Assets - Contract assets, other than accounts receivable, consist of unbilled revenue and generally arise when revenue is recognized on a contract whose transaction price includes an estimate of variable consideration from milestone payments. We do not have material amounts of contract assets as we have relatively few contracts, only modest design service fees and a small number of contracts containing milestone payments. Contract asset balances are included in Prepaid expenses and other current assets in our Condensed Consolidated Balance Sheet. Contract Liabilities - Our contract liabilities consist of customer deposits and deferred revenue. We classify contract liabilities as current or noncurrent based on the timing of when we expect to recognize revenue. Generally, our contract liabilities are expected to be recognized in one year or less. Customer deposits and deferred revenue are separately stated in our Condensed Consolidated Balance Sheet. Summary of changes in contract assets and liabilities for the period from January 1, 2018 to March 31, 2018: Contract asset Contract asset, January 1, 2018 $ 67,000 Contract assets at beginning of year transferred to accounts receivable (42,000 ) Contract assets recorded on contracts during the period 2,000 Contract asset, March 31, 2018 $ 27,000 Contract liability Contract liability, January 1, 2018 $ 140,000 Recognition of revenue included in beginning of year contract liability (72,000 ) Contract liability, net of revenue recognized on contracts during the period 208,000 Foreign currency translation 2,000 Contract liability, March 31, 2018 $ 278,000 The following table presents our disaggregated revenues for the period from January 1, 2018 to March 31, 2018: Three Months Ended Revenue by geographic region: United States $ 137,000 Switzerland 20,000 Total revenue $ 157,000 Revenue by source: Design services $ 107,000 Royalties 50,000 Total revenue $ 157,000

WARRANTS

WARRANTS	3 Months Ended
	Mar. 31, 2018
Warrants and Rights Note Disclosure [Abstract]
WARRANTS	WARRANTS From time to time, we have issued warrants to purchase shares of common stock. These warrants have been issued in connection with the financing transactions and consulting services. Our warrants are subject to standard anti-dilution provisions applicable to shares of our common stock. Bridge Warrants In January and March 2013, as an inducement to make bridge loans to the company, our founders received warrants to purchase a total of 124,998 units of Resonant LLC (the form of the Company at that time) at an exercise price of $0.40 per unit for a period of five years. We refer to these warrants as Bridge Warrants. On June 17, 2013 , in connection with our acquisition of all of the outstanding membership interests of Resonant LLC in an exchange transaction, the founders exchanged their Bridge Warrants to purchase an aggregate of 124,998 Class B units of Resonant LLC for Bridge Warrants to purchase an aggregate of 249,999 shares of our common stock at an exercise price of $0.20 per share. All other terms of the Bridge Warrants remained the same. In January 2018, we entered into an agreement with our founders to exchange all of the warrants for an amount of shares that would equal the number of shares they would have received if exercised under a cashless exercise. The effect of exchanging the warrants for shares of our common stock was considered a modification of the award which required us to record expense for the excess of the fair value of the common stock issued over the fair value of the exchanged warrants. On the date of the exchange the fair value of the warrants were determined to be $1.6 million and the fair value of the shares of common stock issued were $1.6 million . There was a difference in fair value of $2,000 which was recorded to general and administrative expenses during the quarter ended March 31, 2018. Private Placement Warrants - February 2017 In February 2017, we issued warrants to purchase 1,626,898 shares of our common stock at an exercise price of $8.25 in connection with our private placement sale of 1,626,898 shares of common stock. The warrants are exercisable for a period commencing 6 months and ending 30 months after the closing of the financing. We refer to these warrants as Private Placement Warrants - February 2017. We estimated the fair value of the Private Placement Warrants at $2,084,000 using the Black-Scholes option valuation model with the following assumptions: market prices of the stock of $4.91 per share, time to maturity of 3 years, volatility of 60% , zero expected dividend rate and risk free rate of 1.50% . The allocation of the fair value of these warrants was included in additional paid-in capital on the consolidated balance sheet. On December 19, 2017, we entered into a Warrant Exercise Agreement with the holder of Private Placement Warrants - February 2017 to induce the exercise of the 1,626,898 warrants in full. Pursuant to the agreement, the warrant holder exercised in full the warrant and purchased 1,626,898 shares of our common stock at an exercise price of $8.25 per share, for an aggregate exercise price of approximately $13.4 million and we paid the warrant holder an inducement fee of approximately $6.7 million , which resulted in net proceeds to us of $6.7 million . The inducement offer included in the Warrant Exercise Agreement was considered a modification to the warrant upon acceptance by the warrant holder. Upon modification of the warrant we were required to remeasure the warrant. We estimated the fair value of the Private Placement Warrants - February 2017 immediately prior to modification at $4.1 million using the Black-Scholes option valuation model with the following assumptions: market prices of the stock of $8.18 per share, time to maturity of 1.67 years , volatility of 60% , zero expected dividend rate and risk free rate of 1.78% . We estimated the fair value of the Private Placement Warrants - February 2017 upon modification at $6.7 million using the Black-Scholes option valuation model with the following assumptions: market prices of the stock of $8.18 per share, time to maturity of 1 day , volatility of 10% , zero expected dividend rate and risk free rate of 1.25% . The change in fair value was $4.1 million , and when combined with the cash inducement of $6.7 million , resulted in $2.6 million of expense, which was recorded as warrant inducement expense during the year ended December 31, 2017. Private Placement Warrants - September 2017 In September and October 2017, we issued warrants to purchase an aggregate of 1,976,919 shares of our common stock at an exercise price of $4.85 in connection with our private placement sale of 1,976,919 shares of common stock. The sale was completed in two tranches with the first tranche, which closed on September 28, 2017 , including 1,745,581 warrants, and the second tranche, which closed on October 2, 2017 , including 231,338 warrants. The warrants are exercisable for a period commencing 6 months and ending 36 months after the closing of the financing. Collectively, we refer to these warrants as Private Placement Warrants - September 2017. We estimated the total fair value of the Private Placement Warrants - September 2017 at $3.6 million using the Black-Scholes option valuation model with the following assumptions: market prices of the stock of $4.49 for the first tranche and $4.69 per share for the second tranche, time to maturity of 3 years , volatility of 60% , zero expected dividend rate and risk free rates of 1.59% for the first tranche and 1.63% for the second tranche. The allocation of the fair value of these warrants was included in additional paid-in capital on the consolidated balance sheet. Placement Agent Warrants - 2017 In addition to the Private Placement Warrants - September 2017 issued in connection with our private placement sale of 1,976,919 shares of our common stock, we also issued to the placement agent, warrants to purchase a total of 98,846 shares of our common stock at an exercise price of $4.85 per share. Upon closing of the first tranche on September 28, 2017, we issued 87,279 warrants, and upon closing the second tranche, we issued 11,567 warrants. The warrants are exercisable for a period commencing 6 months and ending 36 months after the closing of the financing. Collectively, we refer to these warrants as Placement Agent Warrants - 2017. We estimated the fair value of the Placement Agent Warrants - 2017 at $174,000 using the Black-Scholes option valuation model with the following assumptions: market prices of the stock of $4.49 per share for the first tranche and $4.69 per share for the second tranche, time to maturity of 3 years , volatility of 60% , zero expected dividend rate and risk free rates of 1.59% for the first tranche and 1.63% for the second tranche. The allocation of the fair value of these warrants was included in additional paid-in capital on the consolidated balance sheet A roll-forward of warrant share activity from January 1, 2017 to March 31, 2017 is shown in the following table: Issued and Outstanding Warrants as of January 1, 2017 Warrants Issued Warrants Exercised/ Expired Issued and Outstanding Warrants as of March 31, 2017 Bridge Warrants 249,999 — — 249,999 Consulting Warrants 98,000 — (41,889 ) (1) 56,111 Financing Warrants 78,186 — — 78,186 Underwriting Warrants 310,500 — — 310,500 IR Consulting Warrants 48,000 — — 48,000 Private Placement Warrants - 2016 1,995,124 — (9,000 ) (2) 1,986,124 Underwriting Warrants- Public Offering 2016 135,750 — 135,750 Private Placement Warrants - February 2017 — 1,626,898 1,626,898 2,915,559 1,626,898 (50,889 ) 4,491,568 (1) During the three months ended March 31, 2017, there were 41,889 common stock warrants that were exercised through cashless exercises which resulted in 41,800 shares being issued. (2) During the three months ended March 31, 2017, there were 9,000 common stock warrants that were exercised through cashless exercises which resulted in 3,510 shares being issued. A roll-forward of warrant share activity from January 1, 2018 to March 31, 2018 is shown in the following table: Issued and Outstanding Warrants as of January 1, 2018 Warrants Issued Warrants Exercised/ Expired Issued and Outstanding Warrants as of March 31, 2018 Bridge Warrants 249,999 — (249,999 ) (1) — Consulting Warrants 12,223 — — 12,223 Financing Warrants 62,530 — — 62,530 Underwriting Warrants 310,500 — — 310,500 IR Consulting Warrants 6,000 — — 6,000 Private Placement Warrants - 2016 891,063 — (15,000 ) (2) 876,063 Underwriting Warrants - Public Offering 2016 122,175 — — 122,175 Private Placement Warrants - September 2017 1,976,919 — — 1,976,919 Placement Agent Warrants 98,846 98,846 3,730,255 — (264,999 ) 3,465,256 (1) During the three months ended March 31, 2018 , there were 249,999 warrants that were exchanged for 242,913 shares of common stock in an exchange transaction where the warrant holders exchanged the warrants for the same number of shares they would have been entitled to in a cashless exercise. (2) During the three months ended March 31, 2018 , there were 15,000 warrants exercised for cash.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common Stock Pursuant to our amended and restated certificate of incorporation, we are authorized to issue 47,000,000 shares of common stock. Holders of our common stock are entitled to dividends as and when declared by the Board of Directors, subject to rights and holders of all classes of stock outstanding having priority rights to dividends. There have been no dividends declared to date. Each share of common stock is entitled to one vote. On March 27, 2018 , we completed the sale of 5,714,286 shares of common stock at a price of $3.50 per share in an underwritten public offering. Gross proceeds were $20.0 million with net proceeds of $18.4 million after deducting underwriter fees and offering expenses. The shares were issued pursuant to a shelf registration statement that we filed with the SEC, which became effective in May 2016 . On April 6, 2018 , following exercise by the underwriter of its overallotment option, we sold an additional 857,142 shares at a price of $3.50 , resulting in gross proceeds of $3.0 million and net proceeds of $2.8 million after deducting underwriter fees and offering expenses. Preferred Stock Pursuant to our amended and restated certificate of incorporation, we are authorized to issue 3,000,000 shares of preferred stock. The Board of Directors has the authority, without action by our stockholders, to designate and issue shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof. To-date, no preferred shares have been issued.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION 2014 Omnibus Incentive Plan In January 2014, our board of directors approved the 2014 Omnibus Incentive Plan and amended and restated the plan in March 2014. Our stockholders approved the Amended and Restated 2014 Omnibus Incentive Plan, or the 2014 Plan, in March 2014. Our 2014 Plan initially permitted for the issuance of equity based instruments covering up to a total of 1,400,000 shares of common stock. In June 2016, our board of directors and stockholders approved an increase of 1,300,000 shares and in June 2017 approved an additional increase of 3,250,000 shares of common stock bringing the total shares allowed under the plan to 5,950,000 . Option Valuation We have computed the fair value of options granted to employees and non-employees using the Black-Scholes option valuation model. The compensation costs of non-employee arrangements are subject to re-measurement at each reporting period over the vesting terms as earned. Option forfeitures are estimated at the time of valuation and reduce expense ratably over the vesting period. This estimate will be adjusted periodically based on the extent to which actual option forfeitures differ, or are expected to differ, from the previous estimate, when it is material. The expected term used for options issued to non-employees is the contractual life and the expected term used for options issued to employees is the estimated period of time that options granted are expected to be outstanding. We have estimated the expected life of our employee stock options using the “simplified” method, whereby, the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to our lack of sufficient historical data. For consultants we use an estimated expected life of the remaining term of the stock option grant, which is initially ten years . Since our stock has not been publicly traded for a sufficiently long period of time, we are utilizing an expected volatility figure based on a review of the historical volatilities, over a period of time, equivalent to the expected life of the instrument being valued, of similarly positioned public companies within our industry. The risk-free interest rate was determined from the implied yields from U.S. Treasury zero-coupon bonds with a remaining term consistent with the expected term of the instrument being valued. Stock Options to Employees and Non-Employees During the three months ended March 31, 2017 , we granted incentive stock options for the purchase of 150,880 shares of our common stock to our employees. The stock options have an exercise price range of $4.36 per share to $4.37 per share with a term of 10 years . The stock options vest quarterly over sixteen quarters. The options granted had an aggregate grant date fair value of $397,000 , utilizing the Black-Scholes option valuation model. During the three months ended March 31, 2018 , we granted incentive stock options for the purchase of 37,500 shares of our common stock to our employees. The stock options have an exercise price range of $5.01 per share to $5.96 per share with a term of 10 years . The stock options vest quarterly over sixteen quarters. The options granted had an aggregate grant date fair value of $141,000 , utilizing the Black-Scholes option valuation model. We estimated the fair value of stock options awarded during the three months ended March 31, 2017 and 2018 using the Black-Scholes option valuation model. The fair values of stock options granted for the periods were estimated using the following assumptions: Stock Option Grants Awarded During the Three Months Ended March 31, 2017 Stock Option Grants Awarded During the Three Months Ended March 31, 2018 Stock Price $4.36 to $4.37 $5.01 to $5.96 Dividend Yield 0.00% 0.00% Expected Volatility 60% 70% Risk-free interest rate 2.09% - 2.14% 2.50% - 2.61% Expected Life 7 years 7 years Stock-based compensation expense related to stock options for employees was $131,000 and $105,000 for the three months ended March 31, 2017 and 2018 , exclusive of options issued in connection with our incentive programs which are discussed below. For all employee stock options, we estimate forfeitures at the time of grant, and revise those estimates in subsequent periods if actual forfeitures differ from our estimates. We use historical data to estimate pre-vesting option forfeitures and record stock-based compensation expense only for those awards that are expected to vest. To the extent that actual forfeitures differ from our estimates, the difference is recorded as a cumulative adjustment in the period the estimates were revised. During the three months ended March 31, 2017 and 2018 , we applied a forfeiture rate of six percent, which is reflected in our stock-based compensation expense related to stock options. In January 2017, we modified certain stock options previously granted to a former executive. The modification was made in connection with the executive’s termination. The modification included accelerated vesting of stock options to purchase 8,752 shares of common stock as well as an extension of the exercise period for all vested shares, including stock options to purchase 17,504 shares of common stock. As a result of the modification, additional stock compensation expense of $19,000 was recognized for the three months ended March 31, 2017 . There was no expense related to the modification during the three months ended March 31, 2018 . For stock options paid in consideration of services rendered by non-employees, we recognize compensation expense in accordance with the requirements of ASC 505-50. Non-employee stock option grants that do not vest immediately upon grant are recorded as an expense over the vesting period. At the end of each financial reporting period prior to performance, the value of these stock options, as calculated using the Black-Scholes option valuation model, is determined, and compensation expense recognized or recovered during the period is adjusted accordingly. Since the fair market value of stock options granted to non-employees is subject to change in the future, the amount of the future compensation expense is subject to adjustment until the common stock options are fully vested. Stock-based compensation expense related to stock options for consultants was $3,000 and $2,000 for the three months ended March 31, 2017 and 2018 , respectively, exclusive of options issued in connection with our incentive programs which are discussed below. Stock Option Award Activity The following is a summary of our stock option activity during the three months ended March 31, 2018 : Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Weighted Average Remaining Life In Years Outstanding, January 1, 2018 1,082,490 $ 4.87 $ 3.00 8.38 Granted 37,500 5.57 3.77 9.83 Exercised — — — — Canceled / Forfeited (39,838 ) 4.56 2.74 — Outstanding, March 31, 2018 1,080,152 $ 4.90 $ 3.03 8.03 Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Weighted Average Remaining Life In Years Exercisable, January 1, 2018 704,303 $ 5.08 $ 3.17 8.15 Vested 37,470 4.73 2.86 7.84 Exercised — — — — Canceled / Forfeited — — — — Exercisable, March 31, 2018 741,773 $ 5.06 $ 3.15 7.72 The following table presents information related to stock options outstanding and exercisable at March 31, 2018 : Options Outstanding Options Exercisable Exercise Price Outstanding Number of Options Weighted Average Remaining Life In Years Exercisable Number of Options $1.93 – $2.00 149,000 7.85 74,512 $3.83 – $4.70 492,724 8.83 356,640 $5.01 – $6.00 278,128 6.23 201,889 $6.18 – $7.20 70,000 6.52 45,321 $7.54 – $7.80 67,800 6.75 46,058 $8.06 – $12.98 22,500 6.80 17,353 1,080,152 7.72 741,773 As of March 31, 2018 , there was $846,000 of unrecognized compensation expense related to unvested employee stock options, which is expected to be recognized over a weighted-average period of approximately 2.7 years . The aggregate intrinsic values of outstanding stock options and vested stock options as of March 31, 2018 were $178,000 and $91,000 , respectively, which represent options whose exercise price was less than the closing fair market value of our common stock on March 31, 2018 of $3.19 per share. Restricted Stock Units Activity We account for restricted stock units issued to employees at fair value, based on the market price of our stock on the date of grant, net of estimated forfeitures. The fair value of non-employee restricted stock units awarded are remeasured as the awards vest, and the resulting increase in fair value, if any, is recognized as expense in the period the related services are rendered. During the three months ended March 31, 2017 and 2018 we recorded $559,000 and $566,000 , respectively, of stock-based compensation related to the restricted stock unit shares that had been issued to-date. In January 2017, we modified certain restricted stock units previously granted to a former executive. The modification was made in connection with the executive’s termination. The modification included accelerated vesting of 8,815 units which resulted in additional stock compensation expense of $36,000 for the three months ended March 31, 2017 . There was no expense related to the modification during the three months ended March 31, 2018 . A summary of restricted stock unit activity for the three months ended March 31, 2018 is as follows: Number of Restricted Share Units Weighted- Average Grant-Date Fair Value Per Share Outstanding at January 1, 2018 1,476,858 $ 4.96 Granted 270,528 6.08 Vested (184,818 ) 5.32 Forfeited (6,799 ) 4.98 Outstanding at March 31, 2018 1,555,769 $ 5.11 As of March 31, 2018 , there was $5.5 million of unrecognized compensation expense related to unvested employee restricted stock unit agreements which is expected to be recognized over a weighted-average period of approximately 2.3 years . For restricted stock unit awards subject to graded vesting, we recognize compensation cost on a straight-line basis over the service period for the entire award. Market-based Awards In August 2016, we granted 250,000 market-based restricted stock units to an executive. The restricted stock units are subject to market-based vesting requirements, measured quarterly, based on the average of (a) the average high daily trading price of our common stock for each trading day during the last month of the applicable calendar quarter and (b) the average low daily trading price of our common stock for each trading day during the last month of the applicable calendar quarter, each as reported by The Nasdaq Stock Market, LLC. The restricted stock units are eligible to be earned on a quarterly basis based on a linear interpolation of the applicable share price, or in the case of a liquidation event, on the day of (or in connection with) such liquidation event based on the applicable transaction price. Once earned, the restricted stock units vest 50% on the date such restricted stock units become earned and 50% on September 30, 2019 . We recognize compensation expense for restricted stock units with market conditions using a graded vesting model, based on the probability of the performance condition being met, net of estimated pre-vesting forfeitures. The share price on the date of issuance was $5.06 per share. For the three months ended March 31, 2017, and 2018, we recognized $7,000 and $6,000 , respectively, of stock compensation expense in connection with this award, which is included in general and administrative expenses. The unamortized expense related to this award is $35,000 and is expected to be recognized over 1.5 years. Incentive Bonus Awards We provide eligible employees, including executives, the opportunity to earn bonus awards upon achievement of predetermined performance goals and objectives. The purpose is to reward attainment of company goals and/or individual performance objectives, with award opportunities expressed as a percentage of base salary. Bonuses can be measured and paid quarterly and/or annually, and are paid in cash, equity or a combination of cash and equity, in the discretion of our compensation committee. 2017 Incentive Bonus Program During 2017, our employees and executives participated in the 2017 Incentive Bonus Program. The program provided for the award of quarterly and annual bonuses to our employees and executive officers if certain performance goals, based on company-wide billings, expenses and certain other individual non-monetary targets, were attained in quarterly and annual performance periods during our 2017 fiscal year. The awards contained a combination of service conditions and performance conditions based on the achievement of specified performance thresholds. The awards were based on each individual’s annual salary multiplied by a bonus multiplier percentage which had been determined by our compensation committee. The plan also allowed for additional discretionary awards to non-executive employees up to 10% of the total base salaries of non-executive employees. Additionally, the annual bonus, as it related to executive employees, was subject to the achievement of certain stock price thresholds for the 10 trading days ending on the last trading day of 2017. The bonuses were to be paid in the form of cash, stock options, restricted stock, or a combination thereof. The number of shares underlying equity awards granted to each employee were determined based on the performance bonus amount to be paid in equity, based in part by utilizing the stock price on the grant date. We recognized compensation expense for the total amount of the bonuses earned during the period earned. For the three months ended March 31, 2017 , we recorded a total of $415,000 of expense related to the 2017 incentive bonus plan as the performance conditions were achieved. Included in the expense for 2017 was $306,000 related to quarterly awards which were paid one-half in the form of restricted stock units and one-half in cash. A total of $153,000 was recorded as stock compensation expense, which represented the grant date fair value of the restricted stock units awarded. Of the total expense recorded for the three months ended March 31, 2017 , $224,000 is included in research and development expenses and $191,000 is included in general and administrative expenses. There was no expense for the quarter ended March 31, 2018 in connection with this program. 2017 Non-executive Bonus Program Effective July 1, 2017 , our non-executive employees participated in the 2017 Non-executive Bonus Program. The program provided for the award of up to 300,000 restricted stock units to be awarded to non-executive employees and consultants based upon the achievement of certain performance conditions before the end of the year. Vesting of the restricted stock units were subject to continued service over the vesting period. Based on the achievement of performance conditions, 180,528 restricted stock units were granted on January 25, 2018 . The awards vest in four tranches with 25% of the shares vesting on each April 1, 2018, 2019, 2020 and 2021. For the three months ended March 31, 2018 , we recorded $87,000 of stock compensation expense related to the 2017 Non-executive Bonus Program of which $70,000 and $17,000 is included in research and development expenses and general and administrative expenses, respectively. There was no expense recorded for the three months ended March 31, 2017 as the program had not yet been adopted. 2018 Incentive Bonus Program During 2018, our employees and executives, exclusive of the CEO, are participating in the 2018 Incentive Bonus Program. The program provides for the award of quarterly and annual bonuses to our employees and executive officers if certain performance goals, based on company-wide billings, expenses and certain other individual non-monetary targets, are attained in quarterly and annual performance periods during our 2018 fiscal year. The awards contain a combination of service conditions and performance conditions based on the achievement of specified performance thresholds. The awards are based on each individual’s annual salary multiplied by a bonus multiplier percentage which has been determined by our compensation committee. The plan also allows for additional discretionary awards to non-executive employees up to 10% of the total base salaries of non-executive employees. The bonuses will be paid in the form of cash, stock options, restricted stock, or a combination thereof. The number of shares underlying equity awards granted to each employee will be determined based on the performance bonus amount to be paid in equity, divided by our closing stock price on the grant date. We recognized compensation expense for the total amount of the bonuses earned during the period earned. For the three months ended March 31, 2018, we recorded a total of $604,000 of expense related to the 2018 incentive bonus plan as the performance conditions were achieved. Included in the expense for 2018 was $291,000 related to quarterly awards which will be paid in the form of restricted stock units, which are expected to be granted in May 2018 and will vest immediately. A total of $ 313,000 was recorded as compensation expense and primarily represents an accrual for the annual component of the bonus program. The accrual is included in accrued salaries and payroll related expenses as of March 31, 2018. Of the total expense recorded for the three months ended March 31, 2018, $390,000 is included in research and development expenses and $214,000 is included in general and administrative expenses. There was no expense for the quarter ended March 31, 2017 in connection with this program as the program was not in place at that time. 2018 CEO Incentive Bonus Program During 2018, our CEO is participating in the 2018 CEO Incentive Bonus Program. The program provides for the award of an annual bonus to our CEO if certain performance goals, based on company-wide billings and expenses are attained in the annual performance period during our 2018 fiscal year. Additionally, the annual bonus is subject to the achievement of certain stock price thresholds for the 10 trading days ending on December 19, 2018. We recognize compensation expense for the total amount of the bonus earned during the period earned. For the three months ended March 31, 2018 , we recorded $41,000 of compensation expense related to the 2018 CEO incentive bonus program as certain of the achievements of the performance conditions were considered probable. The expense was included in general and administrative expenses. Total equity-based compensation costs recorded in the condensed consolidated statements of operations is allocated as follows: Three Months Ended March 31, 2017 Three Months Ended March 31, 2018 Research and development Employees $ 226,000 $ 536,000 Non-employees 26,000 (5,000 ) Total research and development 252,000 531,000 General and administrative Employees and directors 367,000 407,000 Non-employees 74,000 25,000 Total general and administrative 441,000 432,000 Total equity-based compensation $ 693,000 $ 963,000

INCOME TAXES INCOME TAXES

INCOME TAXES INCOME TAXES	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company reported net income tax expense of $0 for the quarter ended March 31, 2018 and net income tax benefit of $25,000 for the quarter ended March 31, 2017. The effective tax rate for March 31, 2018 and 2017 differed from the statutory rate primarily due to the valuation allowance recorded against the Company’s deferred tax assets.

RELATED PARTY TRANSACTION

RELATED PARTY TRANSACTION	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTION	RELATED PARTY TRANSACTIONS In August 2016, we entered into a consulting agreement with a member of our board of directors. Under the agreement, the board member would provide engineering design and fabrication advisory services for an hourly rate, with total payments not to exceed $120,000 during any twelve-month period. During the three months ended March 31, 2017 , we incurred expenses of $26,000 in connection with the consulting agreement. The agreement was terminated effective April 1, 2017. There was no expense for the three months ended March 31, 2018 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments —In October 2013, we signed a lease for new office space for our corporate headquarters, and moved into the new location in the first quarter of 2014. The lease had a term of 38 months and a rental cost of approximately $5,412 per month, increasing 3% annually after the first fourteen months . In addition, our share of building operating costs were estimated to be $2,101 per month. In April 2014, we amended the lease to add additional space which increased our rent to $8,286 per month beginning August 1, 2014 plus estimated monthly operating costs of $3,154 and extended the lease term through July 2017. We had a renewal option for an additional 3 year term. The original lease included a tenant improvement allowance of $72,160 and the amended lease included an additional tenant improvement allowance of $38,320 . The allowances were used to construct our office build-out and have been capitalized as leasehold improvements as of December 31, 2016 and 2017 . The capitalized costs are being amortized over the amended lease term through July 2017. Effective April 2017, we amended the lease to add additional space and to extend our lease term through July 2018, with an option to extend through July 2019. With the amendment, the total leased space is now 9,024 square feet with monthly rent of $14,479 through July 31, 2017 and $13,987 from August 1, 2017 through the end of the lease, plus estimated monthly operating costs of approximately $7,000 . In May 2018, we entered into an agreement with the landlord to extend the lease for one month, through August 2018 with no change to the amount of rent or other payments due under the lease. We are currently negotiating a lease for a larger office space in the same area, which we expect to complete by the end of May 2018. We expect our rent payments to increase as a result of the new lease. In November 2013, we signed a lease for our satellite development office in Burlingame, CA. The lease had a two -year term, and rental costs of approximately $4,000 per month. In May 2015, we renewed the lease for a one year period expiring November 30, 2016 with rental costs of $5,000 per month. Effective December 16, 2016 , we signed a new lease of 5,248 square feet of office space within the same building in Burlingame, California commencing February 2017. The lease has a five year term, and rental costs of approximately $17,000 per month. Rent expense related to our facilities and equipment for the three months ended March 31, 2017 and 2018 was $89,000 and $142,000 , respectively. Legal Proceedings — W e are occasionally involved in legal proceedings and other matters arising from the normal course of business. On September 24, 2015, a purported shareholder derivative action was filed in the United States District Court for the Central District of California. The plaintiff alleges that certain of our officers and directors breached their fiduciary duties to us, including by allegedly violating the federal securities laws and exposing us to possible financial liability. The parties to the shareholder derivative action have reached a settlement that, if approved by the court, will fully resolve plaintiff’s claims and provide for the release of all claims asserted in the litigation. On February 1, 2018, the court entered an order granting preliminary approval of the settlement. A motion for final approval of the settlement is currently pending. We can make no assurances that the court will grant final approval of the settlement. The settlement amount is not material. We intend to continue to defend ourselves vigorously in these actions. We are not party to any other legal proceedings. We may, from time to time, be party to litigation and subject to claims incident to the ordinary course of business. As our growth continues, we may become party to an increasing number of litigation matters and claims. The outcome of litigation and claims cannot be predicted with certainty, and the resolution of any future matters could materially affect our future financial position, results of operations or cash flows. Legal fees and other costs associated with legal proceedings are expensed as incurred. We assess, in conjunction with our legal counsel, the need to record a liability for litigation and contingencies. Litigation accruals are recorded when and if it is determined that a loss related matter is both probable and reasonably estimable. Material loss contingencies that are reasonably possible of occurrence, if any, are subject to disclosure. We evaluate developments in legal proceedings and other matters on a quarterly basis. As of March 31, 2017 and 2018 , there was no litigation or contingency with at least a reasonable possibility of a material loss. No losses have been recorded during the three months ended March 31, 2017 and 2018 , respectively, with respect to litigation or loss contingencies.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In connection with the underwritten public offering completed on March 27, 2018, we granted the underwriters the 30-day option to purchase up to an additional 857,142 shares of our common stock at the same price per share as the underwriters paid for the initial shares to cover over-allotments. The underwriters exercised the over-allotment option in full, and on April 6, 2018 , we completed the sale of an additional 857,142 shares at a price of $3.50 , resulting in gross proceeds of $3.0 million and net proceeds of $2.8 million after deducting underwriter fees and offering expenses. As a result, the company increased the aggregate shares sold in the public offering to 6,571,428 shares and aggregate gross proceeds from the offering to approximately $23.0 million and net proceeds of $21.2 million after deducting underwriter fees and offering expenses. In May 2018, we entered into an agreement with the landlord at our corporate headquarters to extend our lease for one month, through August 2018, with no change to the amount of rent or other payments due under the lease. We are currently negotiating a lease for a larger office space in the same area, which we expect to complete by the end of May 2018. We expect our rent payments to increase as a result of the new lease.

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates —The accompanying condensed consolidated financial statements at March 31, 2018 and for the three months ended March 31, 2017 and 2018 are unaudited, but include all adjustments, consisting of normal recurring entries, that management believes to be necessary for a fair presentation of the periods presented. Prior period figures have been reclassified, wherever necessary, to conform to current presentation. Interim results are not necessarily indicative of results for a full year. Balance sheet amounts as of December 31, 2017 have been derived from our audited consolidated financial statements as of that date. The condensed consolidated financial statements included herein have been prepared by us pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, have been condensed or omitted pursuant to such rules and regulations. The financial statements should be read in conjunction with our audited consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017 . Our operating results will fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not be relied upon as predictive of the results in future periods. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Significant estimates made in preparing these financial statements include (a) assumptions to calculate the fair values of financial instruments, warrants and equity instruments and other liabilities and the deferred tax asset valuation allowance and (b) the useful lives for depreciable and amortizable assets. Actual results could differ from those estimates. In the opinion of management, all adjustments, including normal recurring accruals considered necessary for a fair presentation, have been include
Consolidation	Consolidation —The accompanying financial statements include the accounts of the Company and its wholly-owned subsidiary, GVR Trade, S.A. All significant intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents	Cash and Cash Equivalents —We consider all liquid instruments purchased with a maturity of three months or less to be cash equivalents
Concentration of Credit Risk	Concentration of Credit Risk —We maintain checking accounts at one U.S. financial institution. The U.S. bank accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account owner. GVR Trade S.A., our wholly owned Swiss-based subsidiary maintains checking accounts at one major national financial institution. Additionally, we maintain a checking account with a very minimal balance at one bank in South Korea, which is used to fund payroll and rent in South Korea. Management believes we are not exposed to significant credit risk due to the financial position of the depository institutions in which our deposits are held.
Restricted Cash	Restricted Cash —Restricted cash at December 31, 2017 consisted of a $100,000 certificate of deposit with a financial institution, which served as collateral for our corporate credit cards. During the quarter ended March 31, 2018 we terminated the corporate credit card program for which the certificate of deposit was held as collateral and thus the restriction was lifted.
Investments	Investments —Securities held-to-maturity: Management determines the appropriate classification of securities at the time of purchase and reevaluates such designation as of each balance sheet date. Investment/debt securities are classified as held-to-maturity when we have the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in investment income. Interest on securities classified as held-to-maturity is included in investment income. When the fair value of an investment instrument classified as held-to-maturity is less than its amortized cost, management assesses whether or not: (i) we have the intent to sell the instrument or (ii) it is more likely than not that we will be required to sell the instrument before its anticipated recovery. If either of these conditions is met, we must recognize an other-than-temporary impairment for the difference between the instrument’s amortized cost basis and its fair value, and include such amounts in net securities gains (losses). For investment instruments that do not meet the above criteria and are not expected to be recovered at the amortized cost basis, the instrument is considered other-than-temporarily impaired. For these instruments, we separate the total impairment into the credit loss component and the amount of the loss related to other factors. In order to determine the amount of the credit loss, we calculate the recovery value by performing a discounted cash flow analysis based on the current cash flows and future cash flows management expects to recover. The discount rate is the effective interest rate implicit in the underlying instrument. The amount of the total other-than-temporary impairment related to credit loss is recognized in earnings and is included in net securities gains (losses). The amount of the total other-than-temporary impairment related to other factors is recognized in other comprehensive income. For investment instruments that have other-than-temporary impairment recognized through earnings, if through subsequent evaluation there is a significant increase in the cash flow expected, the difference between the amortized cost basis and the cash flows expected to be collected is accreted as interest income. From January through March 2017 , we invested in commercial papers and certificates of deposit that were classified as held-to-maturity. As of March 31, 2017 , all of the investments had matured and there were no investments classified as held-to-maturity. During the quarter ended March 31, 2017 , we recorded investment income of $8,000 associated with the investments that matured during the quarter. During the first quarter of 2018 , we invested in U.S. Treasury bills and a certificate of deposit that were classified as investments held-to-maturity. Additionally, we maintained money market fund balances that were classified as cash and cash equivalents. As of March 31, 2018 , the amortized cost value and fair value are $25.1 million with zero unrealized gain or loss. The U.S. Treasury bills, totaling $25.0 million mature in April 2018 and the certificate of deposit for $100,000 matures in January 2019 . We have not recognized an other-than-temporary impairment gain or loss or a comprehensive gain or loss-to-date. For the three months ended March 31, 2018 , we recorded interest and investment income of $48,000 associated with our cash and investment accounts.
Fair Value of Financial Instruments	Fair Value of Financial Instruments —We measure certain financial assets and liabilities at fair value based on the exit price notion, or price that would be received for an asset or paid to transfer a liability, in an orderly transaction between the market participants at the measurement date. The carrying amounts of our financial instruments, including cash equivalents, restricted cash, investments held-to-maturity, accounts payable, and accrued liabilities, approximate fair value due to their short maturities.
Accounts Receivable	Accounts Receivable —Trade accounts receivable are stated net of allowances for doubtful accounts. Management estimates the allowance for doubtful accounts based on review and analysis of specific customer balances that may not be collectible, customer payment history and any other customer-specific information that may impact ability to collect the receivable. Accounts are considered for write-off when they become past due and when it is determined that the probability of collection is remote. There was no allowance for doubtful accounts at December 31, 2017 and March 31, 2018 .
Property and Equipment	Property and Equipment —Property and equipment consists of leasehold improvements associated with our corporate offices, software purchased during the normal course of business, equipment and office furniture and fixtures, all of which are recorded at cost. Depreciation and amortization is recorded using the straight-line method over the respective useful lives of the assets ranging from three to five years. Leasehold improvements are amortized over the shorter of lease term or useful life. Long-lived assets are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable.
Intangible Assets, net	Intangible Assets, net —Intangible assets are recorded at cost and amortized over the useful life. In the case of business combinations, intangible assets are recorded at fair value. At December 31, 2017 and March 31, 2018 , intangible assets, net, includes patents and a domain name and other intangible assets purchased as part of our acquisition of GVR, including customer relationships, technology and a trademark. Intangible assets are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable.
Goodwill	Goodwill— At December 31, 2017 and March 31, 2018 , goodwill represents the difference between the price paid to acquire GVR and the fair value of the assets acquired, net of assumed liabilities. We review goodwill for impairment annually and whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable.
Revenue Recognition	Revenue Recognition —As of January 1, 2018, we recognize revenue in accordance with the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 606, Revenue from Contracts with Customers. Revenue is recognized upon the transfer of control of promised goods or services to the customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Revenue consists primarily of fees received in connection with filter design projects with customers. Our performance obligation is to design a licensable filter in accordance with customer specifications. The license of the completed design is considered part of this performance obligation as the design and licensing of the filter are highly interdependent. We recognize revenue over the course of the design development phase as our customers are able to benefit from our design services as they are provided, primarily by marketing the in-process design to their customers. We recognize revenue from our design services based on efforts expended to date. At the end of each reporting period, we reassess our measure of progress and adjust revenue when appropriate. In most cases, our design services are performed over a period of six to twelve months. Contracts generally include upfront non-refundable fees, intended to support our initial engineering product development efforts, as well as milestone payments based upon the successful completion of certain deliverables. Milestone payments represent variable consideration, and we use the "most likely amount" approach to determine the amount we ultimately expect to receive. At contract inception, we assess the likelihood of achieving milestones to estimate the total consideration we believe we will receive for our services. Our design service contracts also include a functional license over the completed design, which enables our customer to use our design in products marketed to their customers. We also earn royalties for each product shipped by our customer that incorporates one of our designs. Royalty fees are recorded upon shipment by our customer, and payment is generally due within 30 days. We record the expenses related to these projects in the periods incurred and they are generally included in research and development expense.
Research and Development	Research and Development —Costs and expenses that can be clearly identified as research and development are charged to expense as incurred in accordance with ASC Topic 730-10, Research and Development .
Operating Leases	Operating Leases —We lease office space and research facilities under operating leases. Certain lease agreements contain free or escalating rent payment provisions. We recognize rent expense under such leases on a straight-line basis over the term of the lease. Lease renewal periods are considered on a lease-by-lease basis in determining the lease term.
Stock-Based Compensation	Stock-Based Compensation —We account for employee stock options in accordance with ASC Topic 718, Compensation-Stock Compensation . For stock options issued to employees and directors we use the Black-Scholes option valuation model for estimating fair value at the date of grant. For stock options issued for services rendered by non-employees, we recognize compensation expense in accordance with the requirements of ASC Topic 505-50 , Equity , or ASC 505-50, as amended. Non-employee option grants that do not vest immediately upon grant are recorded as an expense over the vesting period. At the end of each financial reporting period prior to performance, the value of these options, as calculated using the Black-Scholes option valuation model, is determined, and compensation expense recognized or recovered during the period is adjusted accordingly. Since the fair market value of options granted to non-employees is subject to change in the future, the amount of the future compensation expense is subject to adjustment until the common stock options or warrants are fully vested. We account for restricted stock units issued to employees at fair value, based on the market price of our stock on the date of grant, net of estimated forfeitures. Compensation expense is recognized for the portion of the award that is ultimately expected to vest over the period during which the recipient renders the required services to the Company generally using the straight-line single option method. The fair value of non-employee restricted stock units awarded are remeasured as the awards vest, and the resulting increase or decrease in fair value, if any, is recognized as an increase or decrease to compensation expense in the period the related services are rendered.
Earnings Per Share, or EPS	Earnings Per Share, or EPS —EPS is computed in accordance with ASC Topic 260, Earnings per Share , and is calculated using the weighted average number of common shares outstanding during each period. Diluted EPS assumes the conversion, exercise or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method), the exercise of warrants (using the if-converted method) and the vesting of restricted stock unit awards.
Income Taxes	Income Taxes —We account for income taxes in accordance with ASC Topic 740, Income Taxes , or ASC 740, which requires the recognition of deferred tax assets and liabilities for the future consequences of events that have been recognized in our condensed consolidated financial statements or tax returns. The measurement of the deferred items is based on enacted tax laws. In the event the future consequences of differences between financial reporting bases and the tax bases of our assets and liabilities result in a deferred tax asset, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such asset. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion or the entire deferred tax asset will not be realized. As part of the process of preparing our consolidated financial statements, we are required to estimate our income tax expense in each of the jurisdictions in which we operate. We also assess temporary differences resulting from differing treatment of items for tax and accounting differences. We record a valuation allowance to reduce the deferred tax assets to the amount of future tax benefit that is more likely than not to be realized. For the period when we were organized as a limited liability company, we were treated as a partnership for federal and state income tax purposes under the entity classification domestic default rules. As of December 31, 2017 and March 31, 2018 , no liability for unrecognized tax benefits was required to be reported. We recognize interest and penalties related to income tax matters in income taxes, and there were none for the three months ended March 31, 2017 and March 31, 2018 , respectively. We have filed, or are in the process of filing, tax returns that are subject to audit by the respective tax authorities. Although the ultimate outcome would be unknown, we believe that any adjustments that may result from tax return audits are not likely to have a material, adverse effect on our consolidated results of operations, financial position or cash flows.
Reclassifications	Reclassifications —Certain amounts in the condensed consolidated statement of operations for the three months ended March 31, 2017 have been reclassified to conform to the current year presentation.
Business Combinations	Business Combinations— We record business combinations using the acquisition method of accounting and, accordingly, allocate the fair value of purchase consideration to the assets acquired and liabilities assumed based on their fair values at the acquisition date. The excess of the fair value of the purchase consideration over the fair value of the assets acquired and liabilities assumed is recorded as goodwill. The results of operations of the business acquired are included in our consolidated results of operations beginning on the date of acquisition.
Foreign Currency Remeasurement	Foreign Currency Translation —The Swiss Franc has been determined to be the functional currency for the net assets of our Swiss-based subsidiary. We translate the assets and liabilities to U.S. dollars at each reporting period using exchange rates in effect at the balance sheet date and record the effects of the foreign currency translation in accumulated other comprehensive income (loss) in shareholders' equity. We translate the income and expenses to U.S. dollars at each reporting period using the average exchange rate in effect for the period and record the effects of the foreign currency translation as other comprehensive income (loss) in the consolidated statements of comprehensive loss. Gains and losses resulting from foreign currency transactions are included in net loss in the consolidated statements of comprehensive loss.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Revenue from Contracts with Customers— In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update became effective for all annual periods and interim reporting periods beginning after December 15, 2017. We adopted Topic 606 as of January 1, 2018 using the modified retrospective method. See Note 3 - Revenue Recognition , for further details. Leases— In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , a comprehensive new leases standard that amends various aspects of existing accounting guidance for leases. It will require recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous U.S. GAAP and the amended standard is the recognition of lease assets and lease liabilities by lessees on the balance sheet for those leases classified as operating leases under previous U.S. GAAP. The accounting applied by a lessor is largely unchanged from that applied under previous U.S. GAAP. As a result, we will have to recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing our right to use the underlying asset for the lease term on the balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. We are currently reviewing the two leases we have and are evaluating the effects of the new guidance on our consolidated financial statements. We do not expect it to have a material impact on our consolidated financial statements. Intangibles-Goodwill and Other— In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the accounting for goodwill impairments by eliminating step 2 from the goodwill impairment test. The amended guidance will become effective for us commencing in the first quarter of fiscal 2019. We are currently evaluating the impact of this new standard. Compensation-Stock Compensation— In May 2017, the FASB issued ASU No. 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting , which provides clarity over the accounting for a change to the terms or conditions of a share-based payment award. The amendments in the update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments in this update should be applied prospectively to an award modification on or after the adoption date. This guidance became effective for us on January 1, 2018 and will be applied to all future share-based award modifications. Restricted Cash - In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) . The objective of this update is to provide additional guidance and reduce diversity in practice when classifying certain transactions within the statement of cash flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . This new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. These standards are effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company adopted these standards in the first quarter of 2018 utilizing the retrospective transition method. Financial Instruments - Overall - In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10) , which provides significant update to the recognition, measurement, presentation and disclosures of financial instruments. The amendments in the update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. This guidance became effective for us, and was adopted, on January 1, 2018. The impact of this guidance primarily related to disclosures around our investments held-to-maturity, which are recorded at amortized cost value and subject to fair value disclosures. The guidance requires us to disclose the fair value of the financial instruments using the exit price notion, which is the price that would be received in a sale of the asset in an orderly transaction between the market participants at the measurement date. The required disclosures are included in Note 2 - Summary of Significant Accounting Polices .

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	The following table presents the number of shares excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods below: Three Months Ended March 31, 2017 2018 Common stock warrants 4,491,568 3,465,256 Common stock options 904,798 1,080,152 Non-vested restricted stock unit awards 1,401,903 1,555,769 Total shares excluded from net loss per share attributable to common stockholders 6,798,269 6,101,177

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The cumulative effect of the changes made to our condensed consolidated balance sheet as of January 1, 2018 for the adoption of the new standard was as follows: The following table summarizes the impact of the adoption on our Condensed Consolidated Balance Sheet and Condensed Consolidated Statement of Comprehensive Loss as of March 31, 2018: March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Increase/(Decrease) BALANCE SHEET ASSETS Prepaid expenses and other current assets $ 523,000 $ 496,000 $ 27,000 LIABILITIES AND STOCKHOLDERS' EQUITY Deferred revenue, current $ 148,000 $ 137,000 $ 11,000 Accumulated deficit $ (73,464,000 ) $ (73,480,000 ) $ 16,000 March 31, 2018 As Reported Activity Without Adoption of ASC 606 Effect of Change Increase/(Decrease) STATEMENT OF COMPREHENSIVE LOSS Revenue $ 157,000 $ 205,000 $ (48,000 ) Net loss $ (5,716,000 ) $ (5,668,000 ) $ 48,000
Disaggregation of Revenue	Summary of changes in contract assets and liabilities for the period from January 1, 2018 to March 31, 2018: Contract asset Contract asset, January 1, 2018 $ 67,000 Contract assets at beginning of year transferred to accounts receivable (42,000 ) Contract assets recorded on contracts during the period 2,000 Contract asset, March 31, 2018 $ 27,000 Contract liability Contract liability, January 1, 2018 $ 140,000 Recognition of revenue included in beginning of year contract liability (72,000 ) Contract liability, net of revenue recognized on contracts during the period 208,000 Foreign currency translation 2,000 Contract liability, March 31, 2018 $ 278,000
Revenue from External Customers by Geographic Areas	The following table presents our disaggregated revenues for the period from January 1, 2018 to March 31, 2018: Three Months Ended Revenue by geographic region: United States $ 137,000 Switzerland 20,000 Total revenue $ 157,000 Revenue by source: Design services $ 107,000 Royalties 50,000 Total revenue $ 157,000

WARRANTS (Tables)

WARRANTS (Tables)	3 Months Ended
	Mar. 31, 2018
Warrants and Rights Note Disclosure [Abstract]
Schedule of warrant activity	A roll-forward of warrant share activity from January 1, 2017 to March 31, 2017 is shown in the following table: Issued and Outstanding Warrants as of January 1, 2017 Warrants Issued Warrants Exercised/ Expired Issued and Outstanding Warrants as of March 31, 2017 Bridge Warrants 249,999 — — 249,999 Consulting Warrants 98,000 — (41,889 ) (1) 56,111 Financing Warrants 78,186 — — 78,186 Underwriting Warrants 310,500 — — 310,500 IR Consulting Warrants 48,000 — — 48,000 Private Placement Warrants - 2016 1,995,124 — (9,000 ) (2) 1,986,124 Underwriting Warrants- Public Offering 2016 135,750 — 135,750 Private Placement Warrants - February 2017 — 1,626,898 1,626,898 2,915,559 1,626,898 (50,889 ) 4,491,568 (1) During the three months ended March 31, 2017, there were 41,889 common stock warrants that were exercised through cashless exercises which resulted in 41,800 shares being issued. (2) During the three months ended March 31, 2017, there were 9,000 common stock warrants that were exercised through cashless exercises which resulted in 3,510 shares being issued. A roll-forward of warrant share activity from January 1, 2018 to March 31, 2018 is shown in the following table: Issued and Outstanding Warrants as of January 1, 2018 Warrants Issued Warrants Exercised/ Expired Issued and Outstanding Warrants as of March 31, 2018 Bridge Warrants 249,999 — (249,999 ) (1) — Consulting Warrants 12,223 — — 12,223 Financing Warrants 62,530 — — 62,530 Underwriting Warrants 310,500 — — 310,500 IR Consulting Warrants 6,000 — — 6,000 Private Placement Warrants - 2016 891,063 — (15,000 ) (2) 876,063 Underwriting Warrants - Public Offering 2016 122,175 — — 122,175 Private Placement Warrants - September 2017 1,976,919 — — 1,976,919 Placement Agent Warrants 98,846 98,846 3,730,255 — (264,999 ) 3,465,256 (1) During the three months ended March 31, 2018 , there were 249,999 warrants that were exchanged for 242,913 shares of common stock in an exchange transaction where the warrant holders exchanged the warrants for the same number of shares they would have been entitled to in a cashless exercise.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of fair values of stock options granted, estimated using Black-Scholes option valuation model assumptions	We estimated the fair value of stock options awarded during the three months ended March 31, 2017 and 2018 using the Black-Scholes option valuation model. The fair values of stock options granted for the periods were estimated using the following assumptions: Stock Option Grants Awarded During the Three Months Ended March 31, 2017 Stock Option Grants Awarded During the Three Months Ended March 31, 2018 Stock Price $4.36 to $4.37 $5.01 to $5.96 Dividend Yield 0.00% 0.00% Expected Volatility 60% 70% Risk-free interest rate 2.09% - 2.14% 2.50% - 2.61% Expected Life 7 years 7 years
Summary of stock option activity	The following is a summary of our stock option activity during the three months ended March 31, 2018 : Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Weighted Average Remaining Life In Years Outstanding, January 1, 2018 1,082,490 $ 4.87 $ 3.00 8.38 Granted 37,500 5.57 3.77 9.83 Exercised — — — — Canceled / Forfeited (39,838 ) 4.56 2.74 — Outstanding, March 31, 2018 1,080,152 $ 4.90 $ 3.03 8.03 Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Weighted Average Remaining Life In Years Exercisable, January 1, 2018 704,303 $ 5.08 $ 3.17 8.15 Vested 37,470 4.73 2.86 7.84 Exercised — — — — Canceled / Forfeited — — — — Exercisable, March 31, 2018 741,773 $ 5.06 $ 3.15 7.72
Schedule of information related to stock options outstanding and exercisable	The following table presents information related to stock options outstanding and exercisable at March 31, 2018 : Options Outstanding Options Exercisable Exercise Price Outstanding Number of Options Weighted Average Remaining Life In Years Exercisable Number of Options $1.93 – $2.00 149,000 7.85 74,512 $3.83 – $4.70 492,724 8.83 356,640 $5.01 – $6.00 278,128 6.23 201,889 $6.18 – $7.20 70,000 6.52 45,321 $7.54 – $7.80 67,800 6.75 46,058 $8.06 – $12.98 22,500 6.80 17,353 1,080,152 7.72 741,773
Schedule of restricted stock unit activity	A summary of restricted stock unit activity for the three months ended March 31, 2018 is as follows: Number of Restricted Share Units Weighted- Average Grant-Date Fair Value Per Share Outstanding at January 1, 2018 1,476,858 $ 4.96 Granted 270,528 6.08 Vested (184,818 ) 5.32 Forfeited (6,799 ) 4.98 Outstanding at March 31, 2018 1,555,769 $ 5.11
Schedule of stock-based compensation	Total equity-based compensation costs recorded in the condensed consolidated statements of operations is allocated as follows: Three Months Ended March 31, 2017 Three Months Ended March 31, 2018 Research and development Employees $ 226,000 $ 536,000 Non-employees 26,000 (5,000 ) Total research and development 252,000 531,000 General and administrative Employees and directors 367,000 407,000 Non-employees 74,000 25,000 Total general and administrative 441,000 432,000 Total equity-based compensation $ 693,000 $ 963,000

ORGANIZATION AND DESCRIPTION 22

ORGANIZATION AND DESCRIPTION OF BUSINESS (Liquidity and Capital Resources) (Details) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2018	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Accumulated deficit		$ 73,464,000		$ 67,748,000	$ 67,812,000
Cash and cash equivalents		7,767,000	$ 12,957,000		19,524,000
Investments		25,085,000			$ 0
Proceeds from sale of common stock		18,381,000	$ 0
Substantial doubt about going concern, management's evaluation, cash used in the period		$ 0
Subsequent Event
Class of Stock [Line Items]
Proceeds from sale of common stock	$ 2,800,000

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018USD ($)financial_institution	Mar. 31, 2017USD ($)	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)
Concentration Risks, Types, No Concentration Percentage [Abstract]
Number of financial institutions where the Company holds checking deposits | financial_institution	1
Revenue Recognition [Abstract]
Revenue recognized	$ 157,000	$ 156,000
Deferred revenue, current	148,000		$ 140,000	$ 143,000
Income Taxes
Income tax penalties and interest accrued	0			$ 0
Income tax penalties and interest expense	$ 0	$ 0
Minimum
Property and Equipment
Useful life (in years)	3 years
Maximum
Property and Equipment
Useful life (in years)	5 years
Certificates of Deposit | Foreign Debt Securities
Investments
Investment income	$ 48,000

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Anti-Dilutive Shares Excluded from Calculation or EPS) (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share, or EPS
Number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	6,101,177	6,798,269
Common stock warrants
Earnings Per Share, or EPS
Number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	3,465,256	4,491,568
Common stock options
Earnings Per Share, or EPS
Number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	1,080,152	904,798
Restricted stock units
Earnings Per Share, or EPS
Number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders	1,555,769	1,401,903

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Effect of New Accounting Pronouncements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets	$ 523,000		$ 603,000	$ 536,000
Deferred revenue, current	148,000		140,000	143,000
Accumulated deficit	(73,464,000)		$ (67,748,000)	(67,812,000)
Revenue	157,000	$ 156,000
Net loss	(5,716,000)	$ (4,894,000)
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets	496,000			536,000
Deferred revenue, current	137,000			143,000
Accumulated deficit	(73,480,000)			(67,812,000)
Revenue	205,000
Net loss	(5,668,000)
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets	27,000			67,000
Deferred revenue, current	11,000			(3,000)
Accumulated deficit	16,000			$ 64,000
Revenue	(48,000)
Net loss	$ 48,000

REVENUE RECOGNITION - Schedul26

REVENUE RECOGNITION - Schedule of Changes in Contract Asset and Liability Balances (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Contract asset
Contract asset, January 1, 2018	$ 67,000
Contract assets at beginning of year transferred to accounts receivable	(42,000)
Contract assets recorded on contracts during the period	2,000
Contract asset, March 31, 2018	27,000
Contract liability
Contract liability, January 1, 2018	140,000
Recognition of revenue included in beginning of year contract liability	(72,000)
Contract liability, net of revenue recognized on contracts during the period	208,000
Foreign currency translation	2,000
Contract liability, March 31, 2018	$ 278,000

REVENUE RECOGNITION - Schedul27

REVENUE RECOGNITION - Schedule of Revenue from Customer by Geographic Area and Source (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
REVENUES	$ 157,000	$ 156,000
Design services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
REVENUES	107,000
Royalties
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
REVENUES	50,000
United States
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
REVENUES	137,000
Switzerland
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
REVENUES	$ 20,000

WARRANTS (Narrative) (Details)

WARRANTS (Narrative) (Details) - USD ($)

Dec. 19, 2017

Dec. 18, 2017

Sep. 28, 2017

Sep. 30, 2017

Feb. 28, 2017

Oct. 31, 2017

Mar. 31, 2018

Mar. 31, 2017

Dec. 31, 2017

Oct. 02, 2017

Jun. 17, 2013

Jan. 31, 2013

Warrant liabilities

Fair value of common stock issued

$ 26,000

$ 20,000

Proceeds from exercise of warrants

43,000

$ 0

Placement Agent

Warrant liabilities

Warrant fair value

$ 200,000

Warrant share price (in dollars per share)

$ 4.85

Bridge Warrants | Founders

Warrant liabilities

Warrants to purchase shares of common stock (in unit/shares)

249,999

Exercise price (in dollars per unit/share)

$ 0.20

Fair value of the warrants

1,600,000

Fair value of common stock issued

$ 1,600,000

Warrant fair value difference expensed

2,000

Private Placement Warrants, February 2017, After Modifications

Warrant liabilities

Warrant fair value

$ 6,700,000

Underwriting Warrant

Warrant liabilities

New shares issued (in shares)

1,976,919

Expected volatility rate

60.00%

Underwriting Warrant | Placement Agent

Warrant liabilities

New shares issued (in shares)

98,846

Private Placement Warrants, February 2017

Warrant liabilities

Warrant fair value

$ 13,400,000

$ 4,100,000

Warrant share price (in dollars per share)

$ 8.18

$ 8.18

Expected term

1 year 8 months 1 day

Expected volatility rate

10.00%

Risk free interest rate

1.25%

Fair Value Adjustment of Warrants

$ 4,100,000

Class of Warrant or Right, Inducement Expense

6,700,000

Induced Conversion of Convertible Debt Expense

2,600,000

Proceeds from exercise of warrants

$ 6,700,000

Private Placement Warrants, February 2017 | Investors, Executives and Board Members

Warrant liabilities

Exercise price (in dollars per unit/share)

$ 8.25

Private Placement Warrants, September 2017

Warrant liabilities

Warrant fair value

$ 3,600,000

Capital Units | Private Placement Warrants - 2016 | Investors, Executives and Board Members

Warrant liabilities

Exercise price (in dollars per unit/share)

$ 8.25

Capital Units | Private Placement Warrants, September 2017 | Investors, Executives and Board Members

Warrant liabilities

Exercise price (in dollars per unit/share)

$ 4.85

Common stock warrants | Investor

Warrant liabilities

Warrant term, period end after closing

30 months

Common stock warrants | Placement Agent

Warrant liabilities

Warrant term, period start after closing

6 months

Private Placement Warrants - 2016 | Private Placement Warrants - 2016

Warrant liabilities

Warrants to purchase shares of common stock (in unit/shares)

1,626,898

Private Placement Warrants - 2016 | Private Placement Warrants, February 2017

Warrant liabilities

Warrants to purchase shares of common stock (in unit/shares)

1,626,898

Private Placement Warrants - 2016 | Private Placement Warrants, February 2017 | Investor

Warrant liabilities

New shares issued (in shares)

1,626,898

Private Placement Warrants - 2016 | Private Placement Warrants, September 2017

Warrant liabilities

Warrants to purchase shares of common stock (in unit/shares)

1,745,581

1,976,919

231,338

Warrant term, period start after closing

6 months

Warrant term, period end after closing

36 months

Private Placement Warrants - 2016 | Capital Units | Private Placement Warrants - 2016 | Investor

Warrant liabilities

New shares issued (in shares)

1,626,898

Private Placement Warrants - 2016 | Capital Units | Private Placement Warrants, September 2017 | Investors, Executives and Board Members

Warrant liabilities

New shares issued (in shares)

1,976,919

Common Stock | Private Placement Warrants - 2016

Warrant liabilities

Expected term

1 day

Expected dividend rate

0.00%

Risk free interest rate

2.00%

Common Stock | Underwriting Warrant

Warrant liabilities

Expected term

3 years

Private Placement, Offering One | Placement Agent

Warrant liabilities

Partners' Capital Account, Units, Sold in Private Placement

87,279

Private Placement, Offering Two | Placement Agent

Warrant liabilities

Partners' Capital Account, Units, Sold in Private Placement

11,567

Investor Relations | Consulting Warrant Issued In August2014

Warrant liabilities

Exercise price (in dollars per unit/share)

$ 0.40

Investor Relations | Private Placement Warrants - 2016

Warrant liabilities

Warrant fair value

$ 2,084,000

Warrant share price (in dollars per share)

$ 4.91

Expected term

3 years

Expected volatility rate

60.00%

Expected dividend rate

0.00%

Risk free interest rate

1.50%

Minimum | Underwriting Warrant

Warrant liabilities

Warrant share price (in dollars per share)

$ 4.49

Risk free interest rate

1.59%

Minimum | Private Placement Warrants, September 2017

Warrant liabilities

Warrant share price (in dollars per share)

$ 4.49

Risk free interest rate

1.59%

Maximum | Underwriting Warrant

Warrant liabilities

Warrant share price (in dollars per share)

$ 4.69

Risk free interest rate

1.63%

Maximum | Private Placement Warrants, September 2017

Warrant liabilities

Warrant share price (in dollars per share)

$ 4.69

Risk free interest rate

1.63%

Common Units Class B | Founders

Warrant liabilities

Warrants to purchase shares of common stock (in unit/shares)

124,998

WARRANTS (Warrant Share Activit

WARRANTS (Warrant Share Activity) (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	3,730,255	2,915,559
Warrants Issued (in warrants)	0	1,626,898
Warrants Exercised/Expired (in warrants)	(264,999)	(50,889)
Balance at the end of the period (in warrants)	3,465,256	4,491,568
Bridge Warrants
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	249,999	249,999
Warrants Issued (in warrants)	0	0
Warrants Exercised/Expired (in warrants)	(249,999)	0
Balance at the end of the period (in warrants)	0	249,999
Consulting Warrants
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	12,223	98,000
Warrants Issued (in warrants)	0	0
Warrants Exercised/Expired (in warrants)	0	(41,889)
Balance at the end of the period (in warrants)	12,223	56,111
Exercise of warrants, cashless (in warrants)		41,800
Financing Warrants
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	62,530	78,186
Warrants Issued (in warrants)	0	0
Warrants Exercised/Expired (in warrants)	0	0
Balance at the end of the period (in warrants)	62,530	78,186
Underwriting Warrants
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	310,500	310,500
Warrants Issued (in warrants)	0	0
Warrants Exercised/Expired (in warrants)	0	0
Balance at the end of the period (in warrants)	310,500	310,500
IR Consulting Warrants
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	6,000	48,000
Warrants Issued (in warrants)	0	0
Warrants Exercised/Expired (in warrants)	0	0
Balance at the end of the period (in warrants)	6,000	48,000
Private Placement Warrants - 2016
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	891,063
Warrants Issued (in warrants)	0
Warrants Exercised/Expired (in warrants)	(15,000)
Balance at the end of the period (in warrants)	876,063
Underwriting Warrants - Public Offering 2016
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	98,846	0
Warrants Issued (in warrants)		1,626,898
Warrants Exercised/Expired (in warrants)
Balance at the end of the period (in warrants)	98,846	1,626,898
Private Placement Warrants - 2016
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	122,175	1,995,124
Warrants Issued (in warrants)	0	0
Warrants Exercised/Expired (in warrants)	0	(9,000)
Balance at the end of the period (in warrants)	122,175	1,986,124
Exercise of warrants, cashless (in warrants)	242,913	3,510
Private Placement Warrants - September 2017
Roll forward of warrant activity
Balance at the beginning of the period (in warrants)	1,976,919	135,750
Warrants Issued (in warrants)	0	0
Warrants Exercised/Expired (in warrants)	0
Balance at the end of the period (in warrants)	1,976,919	135,750

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 27, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Class of Stock [Line Items]
Common stock, shares authorized		47,000,000		47,000,000
Net proceeds from units issued in the period		$ 18,381
Preferred stock, shares authorized		3,000,000		3,000,000
Net proceeds from the sale of common stock from private placement offering		$ 0	$ 7,471
Common Stock
Class of Stock [Line Items]
Net proceeds from units issued in the period	$ 18,400	$ 6
New shares issued (in shares)	5,714,286	5,714,286
Share price (in dollars per share)	$ 3.50
Net proceeds from the sale of common stock from private placement offering	$ 20,000

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Details) $ / shares in Units, $ in Thousands	Sep. 30, 2019	Aug. 08, 2016	Jun. 30, 2017shares	Jan. 31, 2017shares	Aug. 31, 2016shares	Jun. 30, 2016shares	Mar. 31, 2018USD ($)quarter$ / sharesshares	Mar. 31, 2017USD ($)quarter$ / sharesshares	Dec. 31, 2017shares	Jul. 01, 2017shares	Jan. 31, 2014shares
Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares							37,500	150,880
Vested (in shares) | shares							37,470
Unrecognized compensation expense related to unvested employee stock option							$ 846
Options outstanding, aggregate intrinsic value							178
Options vested, aggregate intrinsic value							$ 91
Weighted average period							2 years 8 months 12 days
Granted (in dollars per share) | $ / shares							$ 5.57
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							$ 566	$ 559
Unrecognized compensation expense related to unvested employee stock option							$ 5,500
Weighted average period							2 years 3 months 18 days
Granted (in shares) | shares							270,528
Vested (in shares) | shares							184,818
Granted (in dollars per share) | $ / shares							$ 6.08
Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance bonus amount, percent of estimate							10.00%
2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock approved for issuance (in shares) | shares							5,950,000				1,400,000
Number of additional shares authorized (in shares) | shares			3,250,000			1,300,000
2015 Performance Plan | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share) | $ / shares							$ 5.06
Employees and Consultants | Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award							10 years
Aggregate grant date fair value of options granted							$ 141
Employees | Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower limit (in dollars per share) | $ / shares								$ 4.36
Exercise price range, upper limit (in dollars per share) | $ / shares								$ 4.37
Term of award								10 years
Number of quarters over which awards vest, grant date subsequent to initial vesting | quarter							16	16
Aggregate grant date fair value of options granted								$ 397
Stock compensation							$ 105	$ 131
Forfeitures rate							6.00%	6.00%
Employees | Common stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower limit (in dollars per share) | $ / shares							$ 5.01
Employees | Common stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower limit (in dollars per share) | $ / shares							$ 5.96
Consultants | Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							$ 2	$ 3
Employees and directors | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Bonus percentage							10.00%
Non-executive employees | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Bonus percentage									10.00%
Non-executive employees | Non-executive Bonus Program 2017 | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock approved for issuance (in shares) | shares										300,000
Granted (in shares) | shares									180,528
Stock compensation							$ 87
Award vesting rights, percent									25.00%
Executives | Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, number of shares impacted | shares				8,752
Option exercise period extended, number of shares impacted | shares				17,504
Plan modification, incremental compensation cost							0	19
Executives | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, number of shares impacted | shares				8,815
Plan modification, incremental compensation cost							0	36
Executives | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares					250,000
Award vesting rights, percent		50.00%
Executives | Performance Based Awards | Maximum | Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percent	50.00%
Common Stock | 2017 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							0	0
Common Stock | Non-executive Bonus Program 2017 | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							0	0
Common Stock | 2018 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							313	0
Common Stock | Employees and directors | 2018 Incentive Bonus Program | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							291
Common Stock | Employees and directors | 2018 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							604
Common Stock | Executives
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							$ 415	306
Common Stock | Executives | 2015 Performance Plan | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period							1 year 6 months
Stock compensation							$ 6	7
Compensation cost not yet recognized							35
Common Stock | Executives | 2017 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period									10 days
Common Stock | Executives | 2018 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							41
Research and development expenses | Common Stock | 2017 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation								$ 224
Research and development expenses | Common Stock | Non-executive Bonus Program 2017 | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							70
Research and development expenses | Common Stock | 2018 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							390
General and administrative expenses | Common Stock | 2017 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							191
General and administrative expenses | Common Stock | Non-executive Bonus Program 2017 | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							17
General and administrative expenses | Common Stock | 2018 Incentive Bonus Program | Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation							$ 214

STOCK-BASED COMPENSATION (Estim

STOCK-BASED COMPENSATION (Estimated Fair Value of Stock Options) (Details) - Common stock options - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)	$ 3.19
Dividend Yield	0.00%	0.00%
Expected Volatility	60.00%	70.00%
Expected Life	7 years	7 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)		$ 4.36
Risk-free interest rate	2.50%	2.09%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)		$ 4.37
Risk-free interest rate	2.61%	2.14%
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower limit (in dollars per share)		$ 4.36
Forfeitures rate	6.00%	6.00%
Employees | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower limit (in dollars per share)	$ 5.01
Employees | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower limit (in dollars per share)	$ 5.96

STOCK-BASED COMPENSATION (Stock

STOCK-BASED COMPENSATION (Stock Option Award Activity) (Details) - Common stock options - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2016
Number of Options outstanding
Outstanding at the beginning of the year (in shares)	1,082,490
Granted (in shares)	37,500	150,880
Exercised (in shares)	0
Forfeited (in shares)	(39,838)
Outstanding at the end of the reporting period (in shares)	1,080,152
Number of Options Exercisable
Exercisable at the beginning of the year (in shares)	704,303
Vested (in shares)	(37,470)
Forfeited (in shares)	0
Exercisable at the end of the reporting period (in shares)	741,773
Weighted Average Exercise Price Outstanding
Outstanding at the beginning of period (in dollars per share)	$ 4.87
Granted (in dollars per share)	5.57
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	4.56
Outstanding at the end of the reporting period (in dollars per share)	4.90
Weighted Average Exercise Price Exercisable
Exercisable at the beginning of the reporting period (in dollars per share)	5.08
Vested exercisable (in dollars per share)	4.73
Forfeited (in dollars per share)	0
Exercisable at the end of the reporting period (in dollars per share)	5.06
Weighted Average Grant Date Fair Value Outstanding
Outstanding at the beginning of the reporting period (in dollars per share)	3
Granted (in dollars per share)	3.77
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	2.74
Outstanding at the end of the reporting period (in dollars per share)	3.03
Weighted Average Grant Date Fair Value Exercisable
Exercisable at the beginning of the reporting period (in dollars per share)	3.17
Vested options exercisable (in dollars per share)	2.86
Exercised options exercisable (in dollars per share)	0
Forfeited options exercisable (in dollars per share)	0
Exercisable at the end of the reporting period (in dollars per share)	$ 3.15
Weighted Average Remaining Life In Years Outstanding
Outstanding Weighted Average Remaining Life (in years)	8 years 11 days		8 years 4 months 17 days
Granted (in years)	9 years 9 months 29 days
Weighted Average Remaining Life Exercisable
Exercisable, Weighted Average Remaining Life	7 years 8 months 19 days		8 years 1 month 24 days
Granted (in years)	7 years 10 months 2 days

STOCK-BASED COMPENSATION (Sto34

STOCK-BASED COMPENSATION (Stock Options Outstanding and Exercisable) (Details) - Common stock options - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2016	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Options	1,080,152		1,082,490
Exercisable, Weighted Average Remaining Life	7 years 8 months 19 days	8 years 1 month 24 days
Exercisable Number of Options	741,773		704,303
$1.93 – $2.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Options	149,000
Exercisable, Weighted Average Remaining Life	7 years 10 months 6 days
Exercisable Number of Options	74,512
$1.93 – $2.00 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 1.93
$1.93 – $2.00 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 2
$3.83 – $4.70
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Options	492,724
Exercisable, Weighted Average Remaining Life	8 years 9 months 29 days
Exercisable Number of Options	356,640
$3.83 – $4.70 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 3.83
$3.83 – $4.70 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 4.70
$5.01 – $6.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Options	278,128
Exercisable, Weighted Average Remaining Life	6 years 2 months 23 days
Exercisable Number of Options	201,889
$5.01 – $6.00 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 5.01
$5.01 – $6.00 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 6
$6.18 – $7.20
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Options	70,000
Exercisable, Weighted Average Remaining Life	6 years 6 months 7 days
Exercisable Number of Options	45,321
$6.18 – $7.20 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 6.49
$6.18 – $7.20 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 7.20
$7.54 – $7.80
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Options	67,800
Exercisable, Weighted Average Remaining Life	6 years 9 months
Exercisable Number of Options	46,058
$7.54 – $7.80 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 7.54
$7.54 – $7.80 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 7.80
$8.06 – $12.98
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of Options	22,500
Exercisable, Weighted Average Remaining Life	6 years 9 months 18 days
Exercisable Number of Options	17,353
$8.06 – $12.98 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 8.06
$8.06 – $12.98 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range	$ 12.98

STOCK-BASED COMPENSATION (Restr

STOCK-BASED COMPENSATION (Restricted Stock Activity) (Details) - Restricted stock units	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Number of Restricted Share Units
Outstanding at beginning of year (in shares) | shares	1,476,858
Granted (in shares) | shares	270,528
Vested (in shares) | shares	(184,818)
Canceled (in shares) | shares	(6,799)
Outstanding at end of year (in shares) | shares	1,555,769
Weighted- Average Grant-Date Fair Value Per Share
Outstanding at beginning of year (in dollars per share) | $ / shares	$ 4.96
Granted (in dollars per share) | $ / shares	6.08
Vested (in dollars per share) | $ / shares	5.32
Canceled (in dollars per share) | $ / shares	4.98
Outstanding at end of year (in dollars per share) | $ / shares	$ 5.11

STOCK-BASED COMPENSATION (Equit

STOCK-BASED COMPENSATION (Equity Based Compensation Schedule) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Allocation of stock-based compensation expense
Stock compensation expense	$ 963	$ 693
Research and development expenses
Allocation of stock-based compensation expense
Stock compensation expense	531	252
Research and development expenses | Employees
Allocation of stock-based compensation expense
Stock compensation expense	536	226
Research and development expenses | Non-employees
Allocation of stock-based compensation expense
Stock compensation expense	(5)	26
General and administrative expenses
Allocation of stock-based compensation expense
Stock compensation expense	432	441
General and administrative expenses | Non-employees
Allocation of stock-based compensation expense
Stock compensation expense	25	74
General and administrative expenses | Employees and directors
Allocation of stock-based compensation expense
Stock compensation expense	$ 407	$ 367

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Benefit from income taxes	$ 0	$ (25)	$ (25)

RELATED PARTY TRANSACTION (Deta

RELATED PARTY TRANSACTION (Details) - Director - Engineering Design and Fabrication Advisory Services - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Aug. 31, 2016
Related Party Transaction [Line Items]
Related party advisory services agreement			$ 120,000
Expenses from transactions with related party	$ 0	$ 26,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Aug. 01, 2017USD ($)	Apr. 01, 2017USD ($)ft²	Dec. 16, 2016USD ($)ft²	Aug. 01, 2014USD ($)	May 30, 2015USD ($)	Apr. 30, 2014USD ($)	Nov. 30, 2013USD ($)	Oct. 31, 2013USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Operating Leases
Loss contingency accrual									$ 0	$ 0
Loss in period									0	0
Corporate Headquarters
Operating Leases
Term of lease								38 months
Monthly rental payments	$ 13,987	$ 14,479		$ 8,286				$ 5,412
Increase in rental payments (as a percent)								3.00%
Period after which monthly rental increases								14 months
Monthly operating cost		$ 7,000		$ 3,154				$ 2,101
Renewal term of the lease						3 years
Tenant improvement allowance						$ 72,160
Additional tenant improvement allowance						$ 38,320
Area of real estate property | ft²		9,024
Satellite development office
Operating Leases
Term of lease							2 years
Monthly rental payments			$ 17,000
Renewal term of the lease			5 years		1 year
Area of real estate property | ft²			5,248
Rent expense					$ 5,000		$ 4,000
Facilities and equipment
Operating Leases
Rent expense									$ 142,000	$ 89,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 06, 2018	Mar. 27, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Subsequent Event [Line Items]
Common stock, shares authorized			47,000,000		47,000,000
Proceeds from sale of common stock			$ 0	$ 7,471
Sales of common stock, net of offering costs			$ 18,381
Common Stock
Subsequent Event [Line Items]
New shares issued (in shares)		5,714,286	5,714,286
Share price (in dollars per share)		$ 3.50
Proceeds from sale of common stock		$ 20,000
Sales of common stock, net of offering costs		$ 18,400	$ 6
Over-Allotment Option | Common Stock
Subsequent Event [Line Items]
Common stock, shares authorized		857,142
Over-Allotment Option | Common Stock | Subsequent Event
Subsequent Event [Line Items]
New shares issued (in shares)	857,142
Share price (in dollars per share)	$ 3.50
Proceeds from sale of common stock	$ 3,000
Sales of common stock, net of offering costs	$ 2,800