Oxford Immunotec Global 10-Q 2 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 25, 2017
Document Information [Line Items]
Entity Registrant Name	Oxford Immunotec Global PLC
Entity Central Index Key	1,586,049
Trading Symbol	oxfd
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		22,926,903
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 43,133	$ 59,110
Accounts receivable, net	16,906	13,265
Inventory, net	8,307	7,437
Prepaid expenses and other assets	3,874	2,390
Total current assets	72,220	82,202
Restricted cash, non-current	200	200
Property and equipment, net	8,299	7,793
In-process research and development	16,170	16,170
Goodwill	3,822	3,822
Other intangible assets, net	10,764	11,017
Other assets	2,791	2,808
Total assets	114,266	124,012
Current liabilities:
Accounts payable	3,668	3,201
Accrued liabilities	13,120	14,282
Contingent purchase price consideration	1,118	882
Deferred income	48	41
Current portion of loans payable	86	84
Total current liabilities	18,040	18,490
Long-term portion of loans payable	29,552	29,601
Contingent purchase price consideration		2,593
Other liabilities	364	364
Total liabilities	47,956	51,048
Commitments and contingencies (Note 2)
Shareholders' equity:
Ordinary shares, £0.006705 nominal value; 36,183,293 shares authorized at March 31, 2017 and December 31, 2016, and 22,735,980 and 22,635,431 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	244	243
Additional paid-in capital	250,326	249,128
Accumulated deficit	(176,728)	(168,656)
Accumulated other comprehensive loss	(7,532)	(7,751)
Total shareholders’ equity	66,310	72,964
Total liabilities and shareholders’ equity	$ 114,266	$ 124,012

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - £ / shares	Mar. 31, 2017	Dec. 31, 2016
Common stock, nominal value (in GBP per share)	£ 0.006705	£ 0.006705
Common stock, shares authorized (in shares)	36,183,293	36,183,293
Common stock, shares issued (in shares)	22,735,980	22,635,431
Common stock, shares outstanding (in shares)	22,735,980	22,635,431

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue:
Product	$ 8,386	$ 8,138
Service	13,119	8,972
Total revenue	21,505	17,110
Cost of revenue:
Product	3,245	3,293
Service	7,252	4,872
Total cost of revenue	10,497	8,165
Gross profit	11,008	8,945
Operating expenses:
Research and development	3,805	3,021
Sales and marketing	9,640	8,480
General and administrative	6,876	4,583
Change in fair value of contingent purchase price consideration	(2,357)	55
Total operating expenses	17,964	16,139
Loss from operations	(6,956)	(7,194)
Other expense:
Interest expense, net	(823)	(17)
Foreign exchange (losses) gains	(106)	363
Other expense	(140)	(166)
Loss before income taxes	(8,025)	(7,014)
Income tax expense	(47)	(35)
Net loss	$ (8,072)	$ (7,049)
Net loss per share attributable to ordinary shareholders—basic and diluted (in dollars per share)	$ (0.36)	$ (0.32)
Weighted-average shares used to compute net loss attributable to ordinary shareholders—basic and diluted (in shares)	22,533,531	22,284,392

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Other Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net loss	$ (8,072)	$ (7,049)
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustment, net of taxes	219	(326)
Other comprehensive income (loss), net of taxes	219	(326)
Total comprehensive loss	$ (7,853)	$ (7,375)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net loss	$ (8,072)	$ (7,049)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of intangible assets	1,003	581
Change in fair value of contingent purchase price consideration	(2,357)	55
Accretion and amortization of loan fees	149
Share-based compensation expense	1,326	1,104
Changes in operating assets and liabilities:
Accounts receivable, net	(3,573)	(1,456)
Inventory, net	(806)	(1,490)
Prepaid expenses and other assets	(1,406)	128
Accounts payable	522	(1,308)
Accrued liabilities	(1,430)	(3,051)
Deferred income	6	(1,496)
Net cash used in operating activities	(14,638)	(13,982)
Cash flows from investing activities
Purchases of property and equipment	(1,301)	(731)
Net cash used in investing activities	(1,301)	(731)
Cash flows from financing activities
Proceeds from exercise of share options	59	11
Payments of tax withheld on vesting of restricted share units	(186)
Payments on loan	(21)	(19)
Net cash used in financing activities	(148)	(8)
Effect of exchange rate changes on cash and cash equivalents	110	(263)
Net decrease in cash and cash equivalents, excluding restricted cash	(15,977)	(14,984)
Cash and cash equivalents at beginning of period	59,110	83,715
Cash and cash equivalents at end of period	$ 43,133	$ 68,731

Note 1 - Business and Basis of

Note 1 - Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. Description of business Oxford Immunotec Global PLC, or the Company, is a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for under-served immune-regulated conditions. The Company’s current product lines and development activities principally focus on four tend On July 1, 2016, On October 12, 2016, Unaudited i nterim f inancial s tatements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10 10 March 31, 2017, three March 31, 2017 2016, three March 31, 2017 2016. The consolidated balance sheet presented as of December 31, 2016, 2016 10 February 28, 2017, 2016 10 Note 1 2016 10 three March 31, 2017. Recent accounting pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09, 2014 09, 2014 09 December 15, 2017. December 15, 2016. 2014 09 first 2018 2014 09 may In July 2015, 2015 11, Simplifying the Measurement of Inventory 2015 11. 2015 11 2015 11 2015 11 January 1, 2017. 2015 11 In November 2015, 2015 17, Balance Sheet Classification of Deferred Taxes 2015 17. 2015 17 that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The Company adopted ASU 2015 17 January 1, 2017. The adoption of ASU 2015 17 In February 2016, 2016 02, Leases 2016 02. 2016 02 December 15, 2018. 2016 02 may In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09. 2016 09 2016 09 January 1, 2017 2016 09 In June 2016, 2016 13, Financial Instruments-Credit Losses 2016 13. 2016 13 2016 13, December 15, 2019. December 15, 2018. 2016 13 may In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15. 2016 15 December 15, 2017. 2016 15 may In October 2016, 2016 16, Income Taxes 2016 16. December 15, 2017, 2016 16 2016 16 may In November 2016, 2016 18, Restricted Cash 2016 18. 2016 18 December 15, 2017, 2016 18 In January 2017, 2017 01, Business Combinations 2017 01. 2017 01 December 15, 2017, 2017 01 may In January 2017, 2017 04, Intangibles – Goodwill and Other 2017 04. 2017 04 2 2017 04 December 15, 2019. 2017 04, Under the U.S. Jumpstart our Business Startups Act, or the JOBS Act, emerging growth companies that become public can delay adopting new or revised accounting standards until such time as those standards apply to private companies. The Company irrevocably elected not to avail itself of this exemption from new or revised accounting standards and, therefore, it is subject to the same new or revised accounting standards as public companies that are not emerging growth companies.

Note 2 - Fair Value Measurement

Note 2 - Fair Value Measurement	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	2 . Fair value measurement As a basis for determining the fair value of certain of the Company’s financial instruments, the Company utilizes a three Level 1—Observable Level 2—Observable 1 Level 3—Unobservable This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The carrying amount of certain of the Company’s financial instruments, including cash, accounts receivable, prepaid expenses and other assets, accounts payable, and accrued liabilities approximate fair value due to their short maturities. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the entire fair value measurement requires management to make judgments and consider factors specific to the asset or liability. The following tables present information about the balances of liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. In general, fair values determined by Level 1 2 3 not Fair v alue m easurements at March 31, 2017 us ing (in thousands) March 31, 2017 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant nobservable i nputs Liabilities: Contingent purchase price consideration $ 1,118 $ — $ — $ 1,118 Total $ 1,118 $ — $ — $ 1,118 Fair v alue m easurements at December 31, 2016 us ing (in thousands) December 31, 2016 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant nobservable i nputs Liabilities: Contingent purchase price consideration $ 3,475 $ — $ — $ 3,475 Total $ 3,475 $ — $ — $ 3,475 The following table provides a summary of changes in the fair value of the Company's Level 3 three March 31, 2017: (in thousands) Balance – beginning $ 3,475 Change in fair value of contingent purchase price consideration (2,357 ) Balance – ending $ 1,118 On October 12, 2016, $6.0 three . The fair value of these milestone payments was estimated to be $3.4 4.4%, 3 March 2017, approval of the Babesia product acquired from Immunetics would be more likely to occur after the milestone due date. As a result, the Company reduced the related contingent purchase price consideration liability by $2.4 The Company has a term loan outstanding under the MidCap agreement. The amount outstanding on its 2016 March 31, 2017, 2

Note 3 - Accounts Receivable, N

Note 3 - Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Financing Receivables [Text Block]	3. Accounts receivable, net, consisted of the following as of: (in thousands) March 31, 2017 December 31, 201 6 Accounts receivable $ 17,776 $ 14,050 Less allowance for uncollectible accounts receivable (870 ) (785 ) Accounts receivable, net $ 16,906 $ 13,265

Note 4 - Inventory, Net

Note 4 - Inventory, Net	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	4 . Inventory , net Inventory, net consisted of the following as of: (in thousands) March 31, 2017 December 31, 201 6 Raw materials $ 5,319 $ 4,928 Finished goods 2,988 2,509 Inventory, net $ 8,307 $ 7,437

Note 5 - Goodwill and Acquired

Note 5 - Goodwill and Acquired Intangible Assets	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. The carrying amount of goodwill reflected in the Company’s condensed consolidated balance sheets was $3.8 March 31, 2017 December 31, 2016. Acquired intangible assets consisted of the following as of March 31, 2017 December 31, 2016: As of March 31, 2017 (in thousands) Amortization period (years) Gross carrying amount Accumulated Amortization Net carrying amount Imugen in-process research and development Indefinite $ 9,200 $ — $ 9,200 Imugen technology - clinical 15 5,100 255 4,845 Imugen customer relationships 10 2,700 203 2,497 Imugen trademarks / trade names 16 1,900 89 1,811 Immunetics in-process research and development Indefinite 6,970 — 6,970 Immunetics technology - clinical 15 860 27 833 Immunetics customer relationships 5 - 11 400 31 369 Immunetics trade name 5 290 27 263 Immunetics grants 2 50 12 38 Other 5 - 10 640 532 108 Total $ 28,110 $ 1,176 $ 26,934 As of December 31, 2016 (in thousands) Amortization period (years) Gross carrying amount Accumulated Amortization Net carrying amount Imugen in-process research and development Indefinite $ 9,200 $ — $ 9,200 Imugen technology - clinical 15 5,100 170 4,930 Imugen customer relationships 10 2,700 135 2,565 Imugen trademarks / trade names 16 1,900 59 1,841 Immunetics in-process research and development Indefinite 6,970 — 6,970 Immunetics technology - clinical 15 860 9 851 Immunetics customer relationships 5 - 11 400 11 389 Immunetics trade name 5 290 9 281 Immunetics grants 2 50 4 46 Other 5 - 10 632 518 114 Total $ 28,102 $ 915 $ 27,187 The weighted average amortization period of our finite-lived intangible assets is 13 $1.0 2017 2018 $0.9 2019 2021. The acquired IPR&D assets include $9.2 $7.0 IPR&D acquired in a business combination is capitalized at fair value and is subject to impairment testing at least annually until the underlying project is completed. Once the project is completed, the carrying value of IPR&D is amortized over the estimated useful life of the asset. Post-acquisition research and development expenses related to the acquired IPR&D are expensed as incurred. The acquisition of Immunetics was accounted for under the acquisition method of accounting and the purchase price allocation was provisionally prepared during the fourth 2016. may one

Note 6 - Accrued Liabilities

Note 6 - Accrued Liabilities	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	6 . Accrued liabilities Accrued liabilities consisted of the following as of: (in thousands) March 31, 2017 December 31, 201 6 Employee related expenses $ 5,034 $ 6,592 Royalties 3,421 4,423 Clinical trials 1,285 1,135 Professional services 668 387 Other accrued liabilities 2,712 1,745 Total accrued liabilities $ 13,120 $ 14,282

Note 7 - Share Option and Equit

Note 7 - Share Option and Equity Incentive Plan	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	7 . Share option and equity incentive plan The impact on the Company’s results of operations from share-based compensation was as follows: Three months ended March 31 , (in thousands) 201 7 201 6 Cost (benefit) of revenue $ 43 $ (52 ) Research and development 160 125 Sales and marketing 425 426 General and administrative 698 605 Total share-based compensation $ 1,326 $ 1,104 In November 2013, 2013 2013 During the three March 31, 2017, 535,098 13.50 14.77 2013 2013 three March 31, 2017 6.11 ten During the three March 31, 2017, 94,991 13.50 2013 40% second 30% third 30% fourth For the three March 31, 2017, 784,000 542,000, three March 31, 2016, $765,000 $339,000, As of March 31, 2017, 7.6 4.3 2.7 2.5

Note 8 - Share Capital

Note 8 - Share Capital	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8 . Share capital During the first three 2017, 78,190 22,359 March 31, 2017, 36,183,293 22,735,980

Note 9 - Net Loss Per Share

Note 9 - Net Loss Per Share	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	9 . Net loss per share The following numbers of outstanding ordinary share options and unvested restricted shares and unvested RSUs were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive: Three months ended March 31 , 201 7 201 6 Options to purchase ordinary shares 1,186,335 1,073,137 Unvested restricted shares 63,438 220,260 Unvested RSUs 262,872 212,901

Note 10 - Subsequent Event

Note 10 - Subsequent Event	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	10 . Subsequent events In May 2017, March 31, 2023. 39,000 $73,000 $83,000 two five

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09, 2014 09, 2014 09 December 15, 2017. December 15, 2016. 2014 09 first 2018 2014 09 may In July 2015, 2015 11, Simplifying the Measurement of Inventory 2015 11. 2015 11 2015 11 2015 11 January 1, 2017. 2015 11 In November 2015, 2015 17, Balance Sheet Classification of Deferred Taxes 2015 17. 2015 17 that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The Company adopted ASU 2015 17 January 1, 2017. The adoption of ASU 2015 17 In February 2016, 2016 02, Leases 2016 02. 2016 02 December 15, 2018. 2016 02 may In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09. 2016 09 2016 09 January 1, 2017 2016 09 In June 2016, 2016 13, Financial Instruments-Credit Losses 2016 13. 2016 13 2016 13, December 15, 2019. December 15, 2018. 2016 13 may In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15. 2016 15 December 15, 2017. 2016 15 may In October 2016, 2016 16, Income Taxes 2016 16. December 15, 2017, 2016 16 2016 16 may In November 2016, 2016 18, Restricted Cash 2016 18. 2016 18 December 15, 2017, 2016 18 In January 2017, 2017 01, Business Combinations 2017 01. 2017 01 December 15, 2017, 2017 01 may In January 2017, 2017 04, Intangibles – Goodwill and Other 2017 04. 2017 04 2 2017 04 December 15, 2019. 2017 04, Under the U.S. Jumpstart our Business Startups Act, or the JOBS Act, emerging growth companies that become public can delay adopting new or revised accounting standards until such time as those standards apply to private companies. The Company irrevocably elected not to avail itself of this exemption from new or revised accounting standards and, therefore, it is subject to the same new or revised accounting standards as public companies that are not emerging growth companies.

Note 2 - Fair Value Measureme18

Note 2 - Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	Fair v alue m easurements at March 31, 2017 us ing (in thousands) March 31, 2017 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant nobservable i nputs Liabilities: Contingent purchase price consideration $ 1,118 $ — $ — $ 1,118 Total $ 1,118 $ — $ — $ 1,118 Fair v alue m easurements at December 31, 2016 us ing (in thousands) December 31, 2016 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant nobservable i nputs Liabilities: Contingent purchase price consideration $ 3,475 $ — $ — $ 3,475 Total $ 3,475 $ — $ — $ 3,475
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	(in thousands) Balance – beginning $ 3,475 Change in fair value of contingent purchase price consideration (2,357 ) Balance – ending $ 1,118

Note 3 - Accounts Receivable,19

Note 3 - Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(in thousands) March 31, 2017 December 31, 201 6 Accounts receivable $ 17,776 $ 14,050 Less allowance for uncollectible accounts receivable (870 ) (785 ) Accounts receivable, net $ 16,906 $ 13,265

Note 4 - Inventory, Net (Tables

Note 4 - Inventory, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(in thousands) March 31, 2017 December 31, 201 6 Raw materials $ 5,319 $ 4,928 Finished goods 2,988 2,509 Inventory, net $ 8,307 $ 7,437

Note 5 - Goodwill and Acquire21

Note 5 - Goodwill and Acquired Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	As of March 31, 2017 (in thousands) Amortization period (years) Gross carrying amount Accumulated Amortization Net carrying amount Imugen in-process research and development Indefinite $ 9,200 $ — $ 9,200 Imugen technology - clinical 15 5,100 255 4,845 Imugen customer relationships 10 2,700 203 2,497 Imugen trademarks / trade names 16 1,900 89 1,811 Immunetics in-process research and development Indefinite 6,970 — 6,970 Immunetics technology - clinical 15 860 27 833 Immunetics customer relationships 5 - 11 400 31 369 Immunetics trade name 5 290 27 263 Immunetics grants 2 50 12 38 Other 5 - 10 640 532 108 Total $ 28,110 $ 1,176 $ 26,934 As of December 31, 2016 (in thousands) Amortization period (years) Gross carrying amount Accumulated Amortization Net carrying amount Imugen in-process research and development Indefinite $ 9,200 $ — $ 9,200 Imugen technology - clinical 15 5,100 170 4,930 Imugen customer relationships 10 2,700 135 2,565 Imugen trademarks / trade names 16 1,900 59 1,841 Immunetics in-process research and development Indefinite 6,970 — 6,970 Immunetics technology - clinical 15 860 9 851 Immunetics customer relationships 5 - 11 400 11 389 Immunetics trade name 5 290 9 281 Immunetics grants 2 50 4 46 Other 5 - 10 632 518 114 Total $ 28,102 $ 915 $ 27,187

Note 6 - Accrued Liabilities (T

Note 6 - Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	(in thousands) March 31, 2017 December 31, 201 6 Employee related expenses $ 5,034 $ 6,592 Royalties 3,421 4,423 Clinical trials 1,285 1,135 Professional services 668 387 Other accrued liabilities 2,712 1,745 Total accrued liabilities $ 13,120 $ 14,282

Note 7 - Share Option and Equ23

Note 7 - Share Option and Equity Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three months ended March 31 , (in thousands) 201 7 201 6 Cost (benefit) of revenue $ 43 $ (52 ) Research and development 160 125 Sales and marketing 425 426 General and administrative 698 605 Total share-based compensation $ 1,326 $ 1,104

Note 9 - Net Loss Per Share (Ta

Note 9 - Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three months ended March 31 , 201 7 201 6 Options to purchase ordinary shares 1,186,335 1,073,137 Unvested restricted shares 63,438 220,260 Unvested RSUs 262,872 212,901

Note 2 - Fair Value Measureme25

Note 2 - Fair Value Measurement (Details Textual) - USD ($) $ in Thousands	Oct. 12, 2016	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Business Combination, Contingent Consideration, Liability		$ 1,118	$ 1,118		$ 3,475
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			(2,357)	$ 55
Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure		0	$ 0		$ 0
Immunetics [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 6,000
Business Combination, Contingent Consideration Arrangement, Term of Milestone Achievement	3 years
Business Combination, Contingent Consideration, Liability	$ 3,400
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ (2,400)
Immunetics [Member] | Contingent Purchase Price Consideration [Member]
Fair Value Inputs, Discount Rate	4.40%

Note 2 - Fair Value Measureme26

Note 2 - Fair Value Measurement - Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Business Combination, Contingent Consideration, Liability	$ 1,118	$ 3,475
Total	1,118	3,475
Fair Value, Inputs, Level 3 [Member]
Business Combination, Contingent Consideration, Liability	1,118	3,475
Total	$ 1,118	$ 3,475

Note 2 - Fair Value Measureme27

Note 2 - Fair Value Measurement - Changes in the Fair Value of the Company's Level 3 Financial Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Balance	$ 3,475
Change in fair value of contingent purchase price consideration	(2,357)
Balance	$ 1,118

Note 3 - Accounts Receivable,28

Note 3 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accounts receivable	$ 17,776	$ 14,050
Less allowance for uncollectible accounts receivable	(870)	(785)
Accounts receivable, net	$ 16,906	$ 13,265

Note 4 - Inventory, Net - Inven

Note 4 - Inventory, Net - Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Raw materials	$ 5,319	$ 4,928
Finished goods	2,988	2,509
Inventory, net	$ 8,307	$ 7,437

Note 5 - Goodwill and Acquire30

Note 5 - Goodwill and Acquired Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Goodwill	$ 3,822	$ 3,822
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 1,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	900
Indefinite-Lived Intangible Assets (Excluding Goodwill)	16,170	16,170
Finite-Lived Intangible Assets, Amortization Expense, Year Five	900
Finite-Lived Intangible Assets, Amortization Expense, Year Four	900
Finite-Lived Intangible Assets, Amortization Expense, Year Two	1,000
In Process Research and Development, Indefinite Lived [Member] | Imugen [Member]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	9,200	9,200
In Process Research and Development, Indefinite Lived [Member] | Immunetics [Member]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 6,970	$ 6,970

Note 5 - Goodwill and Acquire31

Note 5 - Goodwill and Acquired Intangible Assets - Schedule of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Gross carrying amount	$ 16,170	$ 16,170
Gross carrying amount	28,110	28,102
Accumulated amortization	1,176	915
Net carrying amount	26,934	27,187
Other Intangible Assets [Member]
Gross carrying amount	640	632
Accumulated amortization	532	518
Net carrying amount	$ 108	$ 114
Other Intangible Assets [Member] | Minimum [Member]
Amortization period (Year)	5 years	5 years
Other Intangible Assets [Member] | Maximum [Member]
Amortization period (Year)	10 years	10 years
Imugen [Member] | Technology-Based Intangible Assets [Member]
Amortization period (Year)	15 years	15 years
Gross carrying amount	$ 5,100	$ 5,100
Accumulated amortization	255	170
Net carrying amount	$ 4,845	$ 4,930
Imugen [Member] | Customer Relationships [Member]
Amortization period (Year)	10 years	10 years
Gross carrying amount	$ 2,700	$ 2,700
Accumulated amortization	203	135
Net carrying amount	$ 2,497	$ 2,565
Imugen [Member] | Trademarks and Trade Names [Member]
Amortization period (Year)	16 years	16 years
Gross carrying amount	$ 1,900	$ 1,900
Accumulated amortization	89	59
Net carrying amount	$ 1,811	$ 1,841
Immunetics [Member] | Technology-Based Intangible Assets [Member]
Amortization period (Year)	15 years	15 years
Gross carrying amount	$ 860	$ 860
Accumulated amortization	27	9
Net carrying amount	833	851
Immunetics [Member] | Customer Relationships [Member]
Gross carrying amount	400	400
Accumulated amortization	31	11
Net carrying amount	$ 369	$ 389
Immunetics [Member] | Customer Relationships [Member] | Minimum [Member]
Amortization period (Year)	5 years	5 years
Immunetics [Member] | Customer Relationships [Member] | Maximum [Member]
Amortization period (Year)	11 years	11 years
Immunetics [Member] | Trade Names [Member]
Amortization period (Year)	5 years	5 years
Gross carrying amount	$ 290	$ 290
Accumulated amortization	27	9
Net carrying amount	$ 263	$ 281
Immunetics [Member] | Grants [Member]
Amortization period (Year)	2 years	2 years
Gross carrying amount	$ 50	$ 50
Accumulated amortization	12	4
Net carrying amount	38	46
In Process Research and Development, Indefinite Lived [Member] | Imugen [Member]
Gross carrying amount	9,200	9,200
In Process Research and Development, Indefinite Lived [Member] | Immunetics [Member]
Gross carrying amount	6,970	6,970
Accumulated amortization

Note 6 - Accrued Liabilities -

Note 6 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Employee related expenses	$ 5,034	$ 6,592
Royalties	3,421	4,423
Clinical trials	1,285	1,135
Professional services	668	387
Other accrued liabilities	2,712	1,745
Total accrued liabilities	$ 13,120	$ 14,282

Note 7 - Share Option and Equ33

Note 7 - Share Option and Equity Incentive Plan (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	$ 784,000	$ 765,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 7,600,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 255 days
Restricted Stock and Restricted Stock Units (RSU's) [Member]
Allocated Share-based Compensation Expense	$ 542,000	$ 339,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 4,300,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 182 days
2013 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	535,098
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 13.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	14.77
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 6.11
2013 Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
2013 Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	94,991
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 13.50
2013 Plan [Member] | Restricted Stock Units (RSUs) [Member] | Second Anniversary of Grant Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	40.00%
2013 Plan [Member] | Restricted Stock Units (RSUs) [Member] | Third Anniversary of Grant Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	30.00%
2013 Plan [Member] | Restricted Stock Units (RSUs) [Member] | Fourth Anniversary of Grant Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	30.00%

Note 7 - Share Option and Equ34

Note 7 - Share Option and Equity Incentive Plan - Expense Recognized During the Year Related to Share-based Compensation Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based compensation	$ 1,326	$ 1,104
Cost of Revenue [Member]
Share-based compensation	43	(52)
Research and Development Expense [Member]
Share-based compensation	160	125
Selling and Marketing Expense [Member]
Share-based compensation	425	426
General and Administrative Expense [Member]
Share-based compensation	$ 698	$ 605

Note 8 - Share Capital (Details

Note 8 - Share Capital (Details Textual) - shares	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	78,190
Stock Issued During Period, Shares, Restricted Stock Award, Gross	22,359
Common Stock, Shares Authorized	36,183,293	36,183,293
Common Stock, Shares, Issued	22,735,980	22,635,431
Common Stock, Shares, Outstanding	22,735,980	22,635,431

Note 9 - Net Loss Per Share - A

Note 9 - Net Loss Per Share - Antidilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Stock Option [Member]
Antidilutive securities (in shares)	1,186,335	1,073,137
Restricted Stock [Member]
Antidilutive securities (in shares)	63,438	220,260
Restricted Stock Units (RSUs) [Member]
Antidilutive securities (in shares)	262,872	212,901

Note 10 - Subsequent Event (Det

Note 10 - Subsequent Event (Details Textual) - Norwood Lease [Member] - Subsequent Event [Member]	May 01, 2017USD ($)ft²
Area of Leased Space | ft²	39,000
Lessee Leasing Arrangements, Operating Leases, Optional Extension of Contract	5 years
Minimum [Member]
Operating Leases, Rent Expense, Per Month	$ 73,000
Maximum [Member]
Operating Leases, Rent Expense, Per Month	$ 83,000