Oxford Immunotec Global 10-Q 31 Oct 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 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)		25,654,842
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 67,743	$ 59,110
Accounts receivable, net	21,652	13,265
Inventory, net	9,174	7,437
Prepaid expenses and other assets	3,147	2,390
Total current assets	101,716	82,202
Restricted cash, non-current	200	200
Property and equipment, net	8,927	7,793
In-process research and development	6,970	16,170
Goodwill	3,967	3,822
Other intangible assets, net	8,296	11,017
Deferred tax asset	6,725	2,630
Other assets	190	178
Total assets	136,991	124,012
Liabilities and shareholders’ equity
Accounts payable	3,141	3,201
Accrued liabilities	15,563	14,282
Settlement liability	2,396
Contingent purchase price consideration		882
Deferred income	345	41
Current portion of loans payable	89	84
Total current liabilities	21,534	18,490
Long-term portion of loans payable	29,787	29,601
Settlement liability	7,930
Contingent purchase price consideration		2,593
Other liabilities	364	364
Total liabilities	59,615	51,048
Commitments and contingencies (Note 2)
Shareholders' equity:
Ordinary shares, £0.006705 nominal value; 36,183,293 shares authorized at September 30, 2017 and December 31, 2016, and 25,596,345 and 22,635,431 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	269	243
Additional paid-in capital	292,959	249,128
Accumulated deficit	(210,341)	(168,656)
Accumulated other comprehensive loss	(5,511)	(7,751)
Total shareholders’ equity	77,376	72,964
Total liabilities and shareholders’ equity	$ 136,991	$ 124,012

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - £ / shares	Sep. 30, 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)	25,596,345	22,635,431
Common stock, shares outstanding (in shares)	25,596,345	22,635,431

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue:
Product	$ 12,000	$ 9,713	$ 30,808	$ 27,144
Service	18,429	16,396	47,246	35,229
Total revenue	30,429	26,109	78,054	62,373
Cost of revenue:
Product	4,027	3,616	11,366	10,421
Service	9,141	7,887	24,791	17,853
Total cost of revenue	13,168	11,503	36,157	28,274
Gross profit	17,261	14,606	41,897	34,099
Operating expenses:
Research and development	4,467	3,532	12,220	9,837
Sales and marketing	9,493	8,794	29,174	26,665
General and administrative	8,141	6,466	23,007	16,200
Change in fair value of contingent purchase price consideration	(880)	60	(3,475)	172
Intangible assets impairment charge	11,064		11,064
Settlement expense	196		9,831
Total operating expenses	32,481	18,852	81,821	52,874
Loss from operations	(15,220)	(4,246)	(39,924)	(18,775)
Other income (expense):
Interest expense, net	(781)	(54)	(2,411)	(88)
Foreign exchange (losses) gains	(624)	470	(1,277)	1,707
Other income (expense)		(106)	(262)	(243)
Loss before income taxes	(16,625)	(3,936)	(43,874)	(17,399)
Income tax (expense) benefit	(222)	(60)	2,189	(92)
Net loss	$ (16,847)	$ (3,996)	$ (41,685)	$ (17,491)
Net loss per ordinary share—basic and diluted (in dollars per share)	$ (0.70)	$ (0.18)	$ (1.80)	$ (0.78)
Weighted-average shares used to compute net loss per ordinary share—basic and diluted (in shares)	24,123,574	22,365,349	23,159,986	22,333,911

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Other Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net loss	$ (16,847)	$ (3,996)	$ (41,685)	$ (17,491)
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustment, net of taxes	745	(411)	2,240	(1,684)
Other comprehensive income (loss), net of taxes	745	(411)	2,240	(1,684)
Total comprehensive loss	$ (16,102)	$ (4,407)	$ (39,445)	$ (19,175)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net loss	$ (41,685)	$ (17,491)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of intangible assets	3,115	2,067
Change in fair value of contingent purchase price consideration	(3,475)	172
Intangible assets impairment charge	11,064
Accretion and amortization of loan fees	429
Share-based compensation expense	4,266	3,827
Deferred income taxes	(2,264)
Changes in operating assets and liabilities:
Accounts receivable, net	(7,868)	(8,659)
Inventory, net	(1,298)	(782)
Prepaid expenses and other assets	(596)	1,177
Accounts payable	371	(1,235)
Accrued liabilities	2,753	1,882
Other liabilities, net	7,548
Deferred income	286	(1,505)
Net cash used in operating activities	(27,354)	(20,547)
Cash flows from investing activities
Purchases of property and equipment	(4,030)	(2,351)
Cash paid for acquisition		(22,200)
Increase in restricted cash		(120)
Net cash used in investing activities	(4,030)	(24,671)
Cash flows from financing activities
Proceeds from issuance of ordinary shares	39,298
Proceeds from exercise of share options	495	15
Payments of tax withheld on vesting of restricted share units	(203)
Payments on loan	(63)	(59)
Net cash provided by (used in) financing activities	39,527	(44)
Effect of exchange rate changes on cash and cash equivalents	490	(1,129)
Net increase (decrease) in cash and cash equivalents, excluding restricted cash	8,633	(46,391)
Cash and cash equivalents at beginning of period	59,110	83,715
Cash and cash equivalents at end of period	$ 67,743	$ 37,324

Note 1 - Business and Basis of

Note 1 - Business and Basis of Presentation	9 Months Ended
	Sep. 30, 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 underserved immune-regulated conditions. The Company ’s current product lines and development activities principally focus on four 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 gulation S- X. not September 30, 2017, three nine September 30, 2017 2016, nine September 30, 2017 2016. not The consolidated balance sheet presented as of December 31, 201 6, 2016 10 February 28, 2017, 2016 10 Note 1 ’s 2015 2016 10 no three nine September 30, 2017. Recent a ccounting p ronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09, 2014 09, 2014 09 2014 09 first 2018, 2014 09, not In July 2015, the FASB issued ASU 2015 11, Simplifying the Measurement of Inventory 2015 11. 2015 11 2015 11 2015 11 January 1, 2017. 2015 11 not 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 not In February 2016, 2016 02, Leases 2016 02. 2016 02 December 15, 2018. 2016 02 not may In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09. 2016 09 2016 09 January 1, 2017 2016 09 not In June 2016, 2016 13, Financial Instruments-Credit Losses 2016 13. 2016 13 2016 13, December 15, 2019. December 15, 2018. 2016 13 not may In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15. 2016 15 December 15, 2017. 2016 15 not may In October 2016, 2016 16, Income Taxes 2016 16. December 15, 2017, 2016 16 2016 16 In November 2016, 2016 18, Restricted Cash 2016 18. 2016 18 December 15, 2017, not 2016 18 In January 2017, 2017 01, Business Combinations 2017 01. 2017 01 December 15, 2017, not 2017 01 In January 2017, 2017 04, Intangibles – Goodwill and Other 2017 04. 2017 04 2 2017 04 December 15, 2019. January 1, 2017. 2017 04, not In May 2017, 2017 09, Compensation – Stock Compensation 2017 09. 2017 09 2017 09 December 15, 2017, The Company is currently evaluating the impact of the adoption of ASU 2017 09, not Under the U.S. Jumpstart our Business Startups Act, or the JOBS Act, emerging growth companies th at 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 not

Note 2 - Fair Value Measurement

Note 2 - Fair Value Measurement	9 Months Ended
	Sep. 30, 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 not Level 3—Unobservable no 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 table s 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 September 30 , 201 7 us ing (in thousands) September 30 , 2017 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant u nobservable i nputs Liabilities: Contingent purchase price consideration $ — $ — $ — $ — Total $ — $ — $ — $ — Fair v alue m easurements at December 31, 201 6 us ing (in thousands) December 31, 201 6 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant u 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 nine September 30, 2017: (in thousands) Balance – December 31, 2016 $ 3,475 Change in fair value of c ontingent purchase price consideration (3,475 ) Balance – September 30, 2017 $ — On October 12, 2016, included contingent purchase price consideration consisting of up to an additional $6.0 three . The fair value of these milestone payments was estimated to be $3.4 4.4%, 3 March 2017, Babesia microti $2.4 not second 2017, $238,000 third 2017, 2017 $880,000 The Company has a term loan outstanding under the MidCap agreement. The amount outstanding on its 2016 September 30, 2017, 2

Note 3 - Accounts Receivable, N

Note 3 - Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Financing Receivables [Text Block]	3 . Accounts receivable , net Accounts receivable, net, consist ed of the following as of: (in thousands) September 30 , 2017 December 31, 201 6 Accounts receivable $ 22,679 $ 14,050 Less allowance for uncollectible accounts receivable (1,027 ) (785 ) Accounts receivable, net $ 21,652 $ 13,265

Note 4 - Inventory, Net

Note 4 - Inventory, Net	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	4 . Inventory , net Inventory , net consisted of the following as of: (in thousands) September 30 , 2017 December 31, 201 6 Raw materials $ 5,777 $ 4,928 Finished goods 3,397 2,509 Inventory, net $ 9,174 $ 7,437

Note 5 - Goodwill and Acquired

Note 5 - Goodwill and Acquired Intangible Assets	9 Months Ended
	Sep. 30, 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 $4.0 $3.8 September 30, 2017 December 31, 2016, Acquired intangible assets consisted of the following as of September 30, 2017 December 31, 2016: As of September 30, 2017 (in thousands) Amortization period (years) Gross carrying amount Accumulated Amortization Net carrying amount Imugen in-process research and development Indefinite $ — $ — $ — Imugen technology - clinical 15 5,100 425 4,675 Imugen customer relationships 10 1,400 175 1,225 Imugen t rademarks / trade names 16 1,140 89 1,051 Immunetics in-process research and development Indefinite 6,970 — 6,970 Immunetics technology - clinical 15 883 57 826 Immunetics customer relationships 5 - 11 350 54 296 Immunetics trade name 5 160 31 129 Immunetics grants 2 — — — Other 5 - 10 686 592 94 Total $ 16,689 $ 1,423 $ 15,266 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 t rademarks / 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 Amortization expense related to acquired intangible assets is estimated at $0.9 December 31, 2017 $0.7 December 31, 2018 December 31, 2021. The acquired IPR&D assets include $ 7.0 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. second 2017, ● the fair value of the acquired inventory decreased by $45,000 $22,500 $22,500 ● the fair value of the acquired customer relationships decreased by $50,000 ● the fair value of the Immunetics trade name decreased by $130,000 The impact on the second $44,000 $26,000 $58,000 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. In the third 2017, ue to increased competition in the molecular blood donor screening market for Babesia microti $11.1 2016 ● $9.2 ● $1.1 ● $701,000

Note 6 - Accrued Liabilities

Note 6 - Accrued Liabilities	9 Months Ended
	Sep. 30, 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) September 30 , 2017 December 31, 201 6 Employee related expenses $ 7,355 $ 6,592 Royalties 3,480 4,423 Professional services 1,445 387 Clinical trials 611 1,135 Other accrued liabilities 2,672 1,745 Total accrued liabilities $ 15,563 $ 14,282

Note 7 - Share Option and Equit

Note 7 - Share Option and Equity Incentive Plan	9 Months Ended
	Sep. 30, 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 September 30, Nine m onths e nded September 3 0 , (in thousands) 201 7 201 6 20 1 7 201 6 Cost of revenue $ 43 $ 28 $ 129 $ 15 Research and development 211 162 542 394 Sales and marketing 504 490 1,374 1,385 General and administrative 748 688 2,221 2,033 Total share-based compensation $ 1,506 $ 1,368 $ 4,266 $ 3,827 In November 2013, ’s initial public offering, the Company adopted the 2013 2013 2013 2017 During the three September 30, 2017, 154,862 $15.37 $16.91 2013 2013 three September 30, 2017 $7.12 nine September 30, 2017, 800,430 $13.5 $16.91 2013 2013 nine September 30, 2017 $6.33per ten During the three September 30, 2017, 102,141 $16.75 2013 nine September 30, 2017, 204,024 $15.16 2013 40% second 30% third 30% fourth For the three September 30, 2017, 934,000 $573,000, three September 30, 2016, $844,000 $524,000, For the nine September 30, 2017, $2.6 $1.6 nine September 30, 2016, $2.4 $1.4 n , respectively. As of September 30, 2017, $6.9 $4.5 2.6 2.6

Note 8 - Share Capital

Note 8 - Share Capital	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8 . Share capital On August 14, 2017, 2,500,000 £0.006705 $16.05 $39. 3 August 18, 2017. During the first nine 2017, 436,091 24,823 September 30, 2017, 36,183,293 25,596,345

Note 9 - Net Loss Per Share

Note 9 - Net Loss Per Share	9 Months Ended
	Sep. 30, 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 September 30, Nine m onths e nded September 3 0 , 201 7 201 6 201 7 201 6 Options to purchase ordinary shares 1,066,371 1,062,920 948,318 1,062,784 Unvested restricted shares 63,438 138,040 63,438 138,040 Unvested restricted share units 361,890 212,901 361,890 212,901

Note 10 - Settlement Expense

Note 10 - Settlement Expense	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Settlement Expense [Text Block]	10. On June 30 , 2017,

Note 11 - Lease Commitments

Note 11 - Lease Commitments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	11. In April 2017, March 31, 2023. 39,000 $73,000 $83,000 two five During the transition, the Company will also be responsible for the lease payments on the existing space. In May 2017, June 1, 2018 June 1, 2033. £30,000 ’s existing facilities have terminated in December 2020, £59,000 June 1, 2021 third

Note 12 - Restructuring

Note 12 - Restructuring	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	1 2 . Restructuring During the third 2017, ’s management committed to a plan to terminate various government grants that were acquired as part of the acquisition of Immunetics. As a result, the Company plans to terminate 15 fourth 2017 $169,000 $13,000 A summary of these charges and payments made to date are included in the below table. Accrued restructuring costs at September 30, 2017 (in thousands) Severance Balance at December 31, 2016 $ — Charge for restructuring 182 Payments — Balance at September 30, 2017 $ 182 In addition to the items listed above, the Company recorded charges in the third 2017 totaling $28,000 no

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent a ccounting p ronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09, 2014 09, 2014 09 2014 09 first 2018, 2014 09, not In July 2015, the FASB issued ASU 2015 11, Simplifying the Measurement of Inventory 2015 11. 2015 11 2015 11 2015 11 January 1, 2017. 2015 11 not 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 not In February 2016, 2016 02, Leases 2016 02. 2016 02 December 15, 2018. 2016 02 not may In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09. 2016 09 2016 09 January 1, 2017 2016 09 not In June 2016, 2016 13, Financial Instruments-Credit Losses 2016 13. 2016 13 2016 13, December 15, 2019. December 15, 2018. 2016 13 not may In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15. 2016 15 December 15, 2017. 2016 15 not may In October 2016, 2016 16, Income Taxes 2016 16. December 15, 2017, 2016 16 2016 16 In November 2016, 2016 18, Restricted Cash 2016 18. 2016 18 December 15, 2017, not 2016 18 In January 2017, 2017 01, Business Combinations 2017 01. 2017 01 December 15, 2017, not 2017 01 In January 2017, 2017 04, Intangibles – Goodwill and Other 2017 04. 2017 04 2 2017 04 December 15, 2019. January 1, 2017. 2017 04, not In May 2017, 2017 09, Compensation – Stock Compensation 2017 09. 2017 09 2017 09 December 15, 2017, The Company is currently evaluating the impact of the adoption of ASU 2017 09, not Under the U.S. Jumpstart our Business Startups Act, or the JOBS Act, emerging growth companies th at 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 not

Note 2 - Fair Value Measureme20

Note 2 - Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	Fair v alue m easurements at September 30 , 201 7 us ing (in thousands) September 30 , 2017 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant u nobservable i nputs Liabilities: Contingent purchase price consideration $ — $ — $ — $ — Total $ — $ — $ — $ — Fair v alue m easurements at December 31, 201 6 us ing (in thousands) December 31, 201 6 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant u 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 – December 31, 2016 $ 3,475 Change in fair value of c ontingent purchase price consideration (3,475 ) Balance – September 30, 2017 $ —

Note 3 - Accounts Receivable,21

Note 3 - Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(in thousands) September 30 , 2017 December 31, 201 6 Accounts receivable $ 22,679 $ 14,050 Less allowance for uncollectible accounts receivable (1,027 ) (785 ) Accounts receivable, net $ 21,652 $ 13,265

Note 4 - Inventory, Net (Tables

Note 4 - Inventory, Net (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(in thousands) September 30 , 2017 December 31, 201 6 Raw materials $ 5,777 $ 4,928 Finished goods 3,397 2,509 Inventory, net $ 9,174 $ 7,437

Note 5 - Goodwill and Acquire23

Note 5 - Goodwill and Acquired Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	As of September 30, 2017 (in thousands) Amortization period (years) Gross carrying amount Accumulated Amortization Net carrying amount Imugen in-process research and development Indefinite $ — $ — $ — Imugen technology - clinical 15 5,100 425 4,675 Imugen customer relationships 10 1,400 175 1,225 Imugen t rademarks / trade names 16 1,140 89 1,051 Immunetics in-process research and development Indefinite 6,970 — 6,970 Immunetics technology - clinical 15 883 57 826 Immunetics customer relationships 5 - 11 350 54 296 Immunetics trade name 5 160 31 129 Immunetics grants 2 — — — Other 5 - 10 686 592 94 Total $ 16,689 $ 1,423 $ 15,266 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 t rademarks / 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)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	(in thousands) September 30 , 2017 December 31, 201 6 Employee related expenses $ 7,355 $ 6,592 Royalties 3,480 4,423 Professional services 1,445 387 Clinical trials 611 1,135 Other accrued liabilities 2,672 1,745 Total accrued liabilities $ 15,563 $ 14,282

Note 7 - Share Option and Equ25

Note 7 - Share Option and Equity Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three months ended September 30, Nine m onths e nded September 3 0 , (in thousands) 201 7 201 6 20 1 7 201 6 Cost of revenue $ 43 $ 28 $ 129 $ 15 Research and development 211 162 542 394 Sales and marketing 504 490 1,374 1,385 General and administrative 748 688 2,221 2,033 Total share-based compensation $ 1,506 $ 1,368 $ 4,266 $ 3,827

Note 9 - Net Loss Per Share (Ta

Note 9 - Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three months ended September 30, Nine m onths e nded September 3 0 , 201 7 201 6 201 7 201 6 Options to purchase ordinary shares 1,066,371 1,062,920 948,318 1,062,784 Unvested restricted shares 63,438 138,040 63,438 138,040 Unvested restricted share units 361,890 212,901 361,890 212,901

Note 12 - Restructuring (Tables

Note 12 - Restructuring (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Restructuring and Related Costs [Table Text Block]	(in thousands) Severance Balance at December 31, 2016 $ — Charge for restructuring 182 Payments — Balance at September 30, 2017 $ 182

Note 2 - Fair Value Measureme28

Note 2 - Fair Value Measurement (Details Textual) - USD ($)	Oct. 12, 2016	Mar. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			$ (880,000)		$ 60,000	$ (3,475,000)	$ 172,000
Fair Value, Measurements, Recurring [Member]
Business Combination, Contingent Consideration, Liability								$ 3,475,000
Assets, Fair Value Disclosure			0			$ 0
Immunetics [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 6,000,000
Business Combination, Contingent Consideration Arrangement, Term of Milestone Achievement	3 years
Business Combination, Contingent Consideration, Liability	$ 3,400,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ (2,400,000)	$ 880,000	$ (238,000)
Immunetics [Member] | Contingent Purchase Price Consideration [Member]
Fair Value Inputs, Discount Rate	4.40%

Note 2 - Fair Value Measureme29

Note 2 - Fair Value Measurement - Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Contingent purchase price consideration		$ 3,475
Total		3,475
Fair Value, Inputs, Level 1 [Member]
Contingent purchase price consideration
Total
Fair Value, Inputs, Level 2 [Member]
Contingent purchase price consideration
Total
Fair Value, Inputs, Level 3 [Member]
Contingent purchase price consideration		3,475
Total		$ 3,475

Note 2 - Fair Value Measureme30

Note 2 - Fair Value Measurement - Changes in the Fair Value of the Company's Level 3 Financial Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Balance – December 31, 2016	$ 3,475
Change in fair value of contingent purchase price consideration	(3,475)
Balance – September 30, 2017

Note 3 - Accounts Receivable,31

Note 3 - Accounts Receivable, Net - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts receivable	$ 22,679	$ 14,050
Less allowance for uncollectible accounts receivable	(1,027)	(785)
Accounts receivable, net	$ 21,652	$ 13,265

Note 4 - Inventory, Net - Summa

Note 4 - Inventory, Net - Summary of Inventory, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Raw materials	$ 5,777	$ 4,928
Finished goods	3,397	2,509
Inventory, net	$ 9,174	$ 7,437

Note 5 - Goodwill and Acquire33

Note 5 - Goodwill and Acquired Intangible Assets (Details Textual) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Goodwill	$ 3,967,000				$ 3,967,000		$ 3,822,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life					13 years
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	900,000				$ 900,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	700,000				700,000
Indefinite-Lived Intangible Assets (Excluding Goodwill)	6,970,000				6,970,000		$ 16,170,000
Impairment of Intangible Assets (Excluding Goodwill)	11,064,000				11,064,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	700,000				700,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	700,000				700,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	700,000				$ 700,000
In Process Research and Development Member 1 [Member]
Impairment of Intangible Assets (Excluding Goodwill)	9,200,000
Customer Relationships [Member]
Impairment of Intangible Assets (Excluding Goodwill)	1,100,000
Trade Names [Member]
Impairment of Intangible Assets (Excluding Goodwill)	$ 701,000
Immunetics [Member]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory				$ (45,000)
Goodwill, Purchase Accounting Adjustments				22,500
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Current Period, Cost of Product Revenue		$ (44,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Current Period, Sales and Marketing Expense		(26,000)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Current Period, Income Tax Expense		$ 58,000
Immunetics [Member] | Technology-Based Intangible Assets [Member]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles				22,500
Immunetics [Member] | Customer Relationships [Member]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles				(50,000)
Immunetics [Member] | Trade Names [Member]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles				$ (130,000)

Note 5 - Goodwill and Acquire34

Note 5 - Goodwill and Acquired Intangible Assets - Summary of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Gross Carrying Amount, Indefinite-Lived Intangible Assets	$ 6,970	$ 16,170
Indefinite-Lived Intangible Assets (Excluding Goodwill)	6,970	16,170
Accumulated Amortization, Finite-Lived Intangible Assets	1,423	915
Net Carrying Amount, Finite-Lived Intangible Assets	8,296	11,017
Gross Carrying Amount, Total	16,689	28,102
Net Carrying Amount, Total	15,266	27,187
Other Intangible Assets [Member]
Gross Carrying Amount, Finite-Lived Intangible Assets	686	632
Accumulated Amortization, Finite-Lived Intangible Assets	592	518
Net Carrying Amount, Finite-Lived Intangible Assets	$ 94	$ 114
Other Intangible Assets [Member] | Minimum [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	5 years	5 years
Other Intangible Assets [Member] | Maximum [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	10 years	10 years
Imugen [Member] | Technology-Based Intangible Assets [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	15 years	15 years
Gross Carrying Amount, Finite-Lived Intangible Assets	$ 5,100	$ 5,100
Accumulated Amortization, Finite-Lived Intangible Assets	425	170
Net Carrying Amount, Finite-Lived Intangible Assets	$ 4,675	$ 4,930
Imugen [Member] | Customer Relationships [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	10 years	10 years
Gross Carrying Amount, Finite-Lived Intangible Assets	$ 1,400	$ 2,700
Accumulated Amortization, Finite-Lived Intangible Assets	175	135
Net Carrying Amount, Finite-Lived Intangible Assets	$ 1,225	$ 2,565
Imugen [Member] | Trademarks and Trade Names [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	16 years	16 years
Gross Carrying Amount, Finite-Lived Intangible Assets	$ 1,140	$ 1,900
Accumulated Amortization, Finite-Lived Intangible Assets	89	59
Net Carrying Amount, Finite-Lived Intangible Assets	$ 1,051	$ 1,841
Immunetics [Member] | Technology-Based Intangible Assets [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	15 years	15 years
Gross Carrying Amount, Finite-Lived Intangible Assets	$ 883	$ 860
Accumulated Amortization, Finite-Lived Intangible Assets	57	9
Net Carrying Amount, Finite-Lived Intangible Assets	826	851
Immunetics [Member] | Customer Relationships [Member]
Gross Carrying Amount, Finite-Lived Intangible Assets	350	400
Accumulated Amortization, Finite-Lived Intangible Assets	54	11
Net Carrying Amount, Finite-Lived Intangible Assets	$ 296	$ 389
Immunetics [Member] | Customer Relationships [Member] | Minimum [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	5 years	5 years
Immunetics [Member] | Customer Relationships [Member] | Maximum [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	11 years	11 years
Immunetics [Member] | Trade Names [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	5 years	5 years
Gross Carrying Amount, Finite-Lived Intangible Assets	$ 160	$ 290
Accumulated Amortization, Finite-Lived Intangible Assets	31	9
Net Carrying Amount, Finite-Lived Intangible Assets	$ 129	$ 281
Immunetics [Member] | Grants [Member]
Amortization Period, Finite-Lived Intangible Assets (Year)	2 years	2 years
Gross Carrying Amount, Finite-Lived Intangible Assets		$ 50
Accumulated Amortization, Finite-Lived Intangible Assets		4
Net Carrying Amount, Finite-Lived Intangible Assets		46
In Process Research and Development [Member] | Imugen [Member]
Gross Carrying Amount, Indefinite-Lived Intangible Assets		9,200
Indefinite-Lived Intangible Assets (Excluding Goodwill)		9,200
In Process Research and Development [Member] | Immunetics [Member]
Gross Carrying Amount, Indefinite-Lived Intangible Assets	6,970	6,970
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 6,970	$ 6,970

Note 6 - Accrued Liabilities -

Note 6 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Employee related expenses	$ 7,355	$ 6,592
Royalties	3,480	4,423
Professional services	1,445	387
Clinical trials	611	1,135
Other accrued liabilities	2,672	1,745
Total accrued liabilities	$ 15,563	$ 14,282

Note 7 - Share Option and Equ36

Note 7 - Share Option and Equity Incentive Plan (Details Textual) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	$ 934,000	$ 844,000		$ 2,600,000	$ 2,400,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	6,900,000			$ 6,900,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				2 years 219 days
Restricted Stock and Restricted Stock Units (RSU's) [Member]
Allocated Share-based Compensation Expense	573,000	$ 524,000		$ 1,600,000	$ 1,400,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 4,500,000			$ 4,500,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				2 years 219 days
2013 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	154,862			800,430
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 15.37			$ 13.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	16.91			16.91
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 7.12			$ 6.33
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	102,141			204,024
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 16.75			$ 15.16
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 Equ37

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based compensation	$ 1,506	$ 1,368	$ 4,266	$ 3,827
Cost of Revenue [Member]
Share-based compensation	43	28	129	15
Research and Development Expense [Member]
Share-based compensation	211	162	542	394
Selling and Marketing Expense [Member]
Share-based compensation	504	490	1,374	1,385
General and Administrative Expense [Member]
Share-based compensation	$ 748	$ 688	$ 2,221	$ 2,033

Note 8 - Share Capital (Details

Note 8 - Share Capital (Details Textual) $ / shares in Units, $ in Thousands	Aug. 14, 2017USD ($)shares	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)	Sep. 30, 2017£ / sharesshares	Aug. 14, 2017£ / shares	Aug. 14, 2017$ / shares	Dec. 31, 2016£ / sharesshares
Common Stock, Par or Stated Value Per Share | £ / shares				£ 0.006705			£ 0.006705
Proceeds from Issuance of Common Stock | $		$ 39,298
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		436,091
Stock Issued During Period, Shares, Restricted Stock Award, Gross		24,823
Common Stock, Shares Authorized				36,183,293			36,183,293
Common Stock, Shares, Issued				25,596,345			22,635,431
Common Stock, Shares, Outstanding				25,596,345			22,635,431
Underwriters [Member]
Stock Issued During Period, Shares, New Issues	2,500,000
Common Stock, Par or Stated Value Per Share | £ / shares					£ 0.006705
Shares Issued, Price Per Share | $ / shares						$ 16.05
Proceeds from Issuance of Common Stock | $	$ 39,300

Note 9 - Net Loss Per Share - A

Note 9 - Net Loss Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Employee Stock Option [Member]
Antidilutive securities (in shares)	1,066,371	1,062,920	948,318	1,062,784
Restricted Stock [Member]
Antidilutive securities (in shares)	63,438	138,040	63,438	138,040
Restricted Stock Units (RSUs) [Member]
Antidilutive securities (in shares)	361,890	212,901	361,890	212,901

Note 11 - Lease Commitments (De

Note 11 - Lease Commitments (Details Textual)	Dec. 31, 2020GBP (£)	May 31, 2017GBP (£)	Apr. 30, 2017USD ($)ft²
Norwood Lease [Member]
Area of Real Estate Property | ft²			39,000
Lessee, Operating Lease, Renewal Term			5 years
Norwood Lease [Member] | Minimum [Member]
Operating Leases, Monthly Rent Expense | $			$ 73,000
Norwood Lease [Member] | Maximum [Member]
Operating Leases, Monthly Rent Expense | $			$ 83,000
U.K. Office and Laboratory Facilities [Member]
Operating Leases, Monthly Rent Expense | £		£ 30,000
U.K. Office and Laboratory Facilities [Member] | Scenario, Forecast [Member]
Operating Leases, Monthly Rent Expense | £	£ 59,000

Note 12 - Restructuring (Detail

Note 12 - Restructuring (Details Textual) - Plan to Terminate Government Grants [Member]	3 Months Ended
	Dec. 31, 2017	Sep. 30, 2017USD ($)
Restructuring Charges		$ 182,000
Impairment of Long-Lived Assets Held-for-use		28,000
Research and Development Expense [Member]
Restructuring Charges		169,000
General and Administrative Expense [Member]
Restructuring Charges		$ 13,000
Scenario, Plan [Member]
Restructuring and Related Cost, Number of Positions Eliminated	15

Note 12 - Restructuring - Accru

Note 12 - Restructuring - Accrued Restructuring Costs (Details) - Plan to Terminate Government Grants [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2017USD ($)
Balance at December 31, 2016
Charge for restructuring	182
Payments
Balance at September 30, 2017	$ 182