Pulse Biosciences (PLSE) 10-Q 27 Jun 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Jun. 22, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	Pulse Biosciences, Inc.
Entity Filer Category	Smaller Reporting Company
Entity Central Index Key	1,625,101
Trading Symbol	plse
Amendment Flag	false
Document Type	10-Q
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		13,315,297

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 2,105	$ 3,606
Prepaid expenses and other current assets	47	44
Deferred offering costs	493	347
Total current assets	2,645	3,997
Equipment, net of accumulated depreciation	346	329
Intangible assets, net of accumulated amortization	7,042	7,208
Goodwill	2,791	2,791
Total assets	12,824	14,325
Current liabilities:
Accounts payable	296	262
Accrued expenses	354	398
Total current liabilities	$ 650	$ 660
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; authorized - 5,000 shares; issued and outstanding - none
Common stock, $0.001 par value: authorized - 45,000 shares; issued and outstanding - 7,565 shares at March 31, 2016 and December 31, 2015	$ 8	$ 8
Additional paid-in-capital	16,938	16,745
Accumulated deficit	(4,772)	(3,088)
Total stockholders' equity	12,174	13,665
Total liabilities and stockholders' equity	$ 12,824	$ 14,325

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	7,565,000	7,565,000
Common stock, shares outstanding	7,565,000	7,565,000

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Consolidated Statements Of Operations [Abstract]
Revenue:
Operating expenses:
General and administrative	$ 528	$ 156
Research and development	990	421
Amortization of intangible assets	166	166
Total operating expenses	1,684	743
Loss from operations, before income taxes	$ (1,684)	(743)
Income taxes		299
Net loss	$ (1,684)	$ (444)
Net loss per common share - basic and diluted	$ (0.22)	$ (0.06)
Weighted average number of common shares outstanding - basic and diluted	7,565	7,565

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (1,684)	$ (444)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of equipment	22	10
Amortization of intangible assets	166	166
Stock-based compensation	193	54
Deferred income taxes		(299)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(3)	(19)
Deferred offering costs	(146)
Accounts payable	34	56
Accrued expenses	$ (44)	58
Deferred grant revenue		(39)
Net cash used in operating activities	$ (1,462)	$ (457)
Cash flows from investing activities:
Purchase of equipment	(39)
Net cash used in investing activities	$ (39)
Cash flows from financing activities:
Net cash provided by financing activities
Net decrease in cash	$ (1,501)	$ (457)
Cash at beginning of period	3,606	7,009
Cash at end of period	$ 2,105	$ 6,552

Description Of The Business

Description Of The Business	3 Months Ended
	Mar. 31, 2016
Description Of The Business [Abstract]
Description Of The Business	1. Description of the Business Pulse Biosciences, Inc. is a development stage medical device company using a novel and proprietary platform technology, Nano-Pulse Electro-Signaling, or NPES, for biomedical applications. The Company is currently conducting research and development activities in pursuit of commercial applications of its technology, but has not yet commercialized or recognized revenue from any of its potential applications. Pulse Biosciences, Inc., incorporated in Nevada on May 19, 2014 under the name Electroblate, Inc . Electroblate, Inc. changed its name to Pulse Biosciences, Inc. effective December 8, 2015. The Company’s corporate office and research facility are located in Burlingame, California. Initial Public Offering On May 13, 2016, the Company’s registration statement on Form S-1 relating to its initial public offering (“IPO”) was declared effective by the Securities and Exchange Commission (“SEC”) and closed on May 23, 2016, whereby the Company sold 5,000,000 shares of common stock at a price of $4.00 per share. The shares began trading on the NASDAQ Capital Market under the trading symbol “PLSE” on May 18, 2016. Subsequently, on June 21, 2016, the underwriters exercised their overallotment option to purchase an additional 749,846 shares of common stock at $4.00 per share, which transaction closed on June 21, 2016. The Company received net proceeds of approximately $20.2 million from the initial public offering, including proceeds from the underwriter overallotment option, net of underwriting discounts , commissions, and estimated offering costs.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements (“Financial Statements”) have been prepared on a consistent basis with the Company’s December 31, 2015 audited consolidated financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The Financial Statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and, as permitted by such rules and regulations, omit certain information and footnote disclosures necessary to present the financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). These Financial Statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2015 included in the Company’s Registration Statement on Form S-1, as amended. The results of operations for the three-month period ended March 31, 2016 are not necessarily indicative of the results to be expected for the entire year or any future periods. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes to the financial statements. Estimates include, but are not limited to, the valuation and recognition of share-based compensation, the useful lives assigned to long-lived assets and the computation provisions for income taxes. Actual results could differ materially from these estimates. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the three-month period ended March 31, 2016, as compared to the significant accounting policies described in the Company’s Registration Statement on Form S-1, as amended . Recent Accounting Pronouncements During May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) No. 2014-09, Revenue from Contracts with Customers. This updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued an update to defer the effective date of this update by one year. This updated standard becomes effective for the Company in the first quarter of fiscal year 2018, but allows the Company to adopt the standard one year earlier if it so chooses. The Company has not yet selected a transition method and is evaluating the effect that the updated standard will have on its Financial Statements and related disclosures. During February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). For lessees, leases will continue to be classified as either operating or financing in the income statement. This ASU becomes effective for the Company in the first quarter of fiscal year 2019 and early adoption is permitted. This ASU is required to be applied with a modified retrospective approach and requires application of the new standard at the beginning of the earliest comparative period presented. The Company generally does not finance purchases of equipment or other capital, but does lease its facilities. The Company is evaluating the effect that this ASU will have on its Financial Statements and related disclosures. During March 2016, FASB issued ASU No. 2016-09, Improvements to Employee Share-based Payment Accounting. This ASU simplifies the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU requires that excess tax benefits and deficiencies be recognized as income tax benefit or expense in the income statement. The Company currently plans to implement this ASU as required in the first quarter of fiscal year 2017. The Company is evaluating the effect that this ASU will have on its Consolidated Financial Statements and related disclosures. Net Loss per Share The following outstanding common stock options and warrants to purchase common stock were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:      Three-Month Periods Ended  March 31,  2016 2015  Common stock warrants 299,625 299,625  Common stock options 954,090 378,275  Total 1,253,715 677,900 

Equipment

Equipment	3 Months Ended
	Mar. 31, 2016
Equipment [Abstract]
Equipment	3 . Equipment Equipment consisted of the following (in thousands):     March 31, December 31,  2016 2015  Laboratory equipment $ 385 $ 356  Software 20 10  Furniture, fixtures, and equipment 20 20  425 386  Less: Accumulated depreciation (79) (57)  $ 346 $ 329  Depreciation expense was $22,000 an d $10,000 , and for the three-month periods ended March 31, 2016 and 2015 , respectively.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2016
Intangible Assets [Abstract]
Intangible Assets	4 . Intangible Assets Intangible assets consisted of the following (in thousands):      March 31, December 31,  2016 2015  Acquired technology $ 4,200 $ 4,200  License 3,785 3,785  7,985 7,985  Less: Accumulated amortization (943) (777)  $ 7,042 $ 7,208 

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2016
Accrued Expenses [Abstract]
Accrued Expenses	5 . Accrued Expenses Accrued expenses consisted of the following (in thousands):     March 31, December 31,  2016 2015  Compensation expense $ 95 $ 34  Offering costs 146 240  Professional fees 113 84  Other — 40  $ 354 $ 398 

Stockholders' Equity And Stock-

Stockholders' Equity And Stock-Based Compensation	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity And Stock-Based Compensation [Abstract]
Stockholders' Equity And Stock-Based Compensation	6 . Stockholders’ Equity and Stock-Based Compensation Stock-based Compensation Total stock-based compensation expense consisted of the following (in thousands):      Three-Month Periods Ended  March 31,  2016 2015  General and administrative $ 148 $ 54  Research and development 45 —  Total stock-based compensation expense $ 193 $ 54 

Research Grants And Agreements

Research Grants And Agreements	3 Months Ended
	Mar. 31, 2016
Research Grants And Agreements [Abstract]
Research Grants And Agreements	7 . Research Grants and Agreements Research Grants The Company’s subsidiary, BioElectromed (“BEM”) was acquired by Pulse Biosciences on November 6, 2014 . BEM ha d been funded by grants from the National Cancer Institute of the National Institutes of Health (the “NIH”), including grants from the NIH Small Business Innovation Research (“SBIR”) Program, to conduct research and develop devices that will provide health benefits utilizing bioelectric technology. At the time of acquisition, BEM had an active research grant under the SBIR Program for a project entitled “EndoPulse System for Endoscopic Ultrasound-Guided Therapy of Pancreatic Carcinoma”. The research project was scheduled to be completed on August 31, 2014, but was extended to August 31, 2015 and completed during the year ended D ecember 31, 2015. For the three-month period ended March 31, 2015, the Company received research grant funding of $340,000 that was recorded as an offset to research and development expenses. The Company has not subsequently receiv ed additional grants . Sponsored Research Agreement The Company entered into a Sponsored Research Agreement (“SRA”) with the Old Dominion University Research Foundation (“ODURF”) during 2014 pursuant to which the Company sponsors research activities performed by ODURF’s Frank Reidy Center. ODURF is compensated by the Company for its conduct of each study in accordance with the budget and payment terms set forth in the applicable task order. During the first quarter of 2015 the Company agreed to sponsor $1.2 million in research during the subsequent 12 -month period to be funded through monthly payments made upon ODURF certifying, to the Company’s reasonable satisfaction, that ODURF has met its obligations pursuant to the specified task order and statement of work. The principal investigator may transfer funds with the budget as needed without the Company’s approval so long as the obligations of ODURF under the task order and statement of work remain unchanged and unimpaired. During April 2016, the Company agreed to sponsor additional research under the SRA for the period April 2016 through March 2017 totaling $1.0 million. During the three-month periods ended March 31, 2016 and 2015, the Company paid and incurred costs relating to the SRA equal to $164,000 and $300,000 , respectively, relating to the amount agreed to during 2015.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	8 . Related Party Transactions MDB Capital Group, LLC provides investment banking, executive recruiting and intellectual property management services to the Company. Our Chairman, Robert Levande is a Senior Managing Director of MDB Capital Group. During the three-month period ended March 31, 2016, the Company incurred expenses charged by MDB Capital Group, LLC of $55,000 for services rendered with respect to intellectual property related services Gary Schuman, the Chief Financial Officer of MDB Capital Group, LLC, served as the acting Chief Financial Officer of the Company and was compensated at a monthly rate of $4,000 from November 1, 2014 to December 31, 2015 . Mr. Schuman’s compensation of $12,000 is reflected in general and administrative expenses for the three month period ended March 31, 201 5 . At March 31, 2016 and December 31, 2015, $47,000 and $58,000 , respectively, was included in accounts payable to MDB Capital Group, LLC for patent related services and their expenses incurred relating to the Company’s planned IPO, which were recorded as deferred offering costs. Information with respect to payments under the Company’s Sponsored Research Agreement with ODURF , a greater than 10% shareholders, is described at Note 7 .

Summary Of Significant Accoun14

Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Summary Of Significant Accounting Policies [Abstract]
Basis Of Presentation	Basis of Presentation In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements (“Financial Statements”) have been prepared on a consistent basis with the Company’s December 31, 2015 audited consolidated financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The Financial Statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and, as permitted by such rules and regulations, omit certain information and footnote disclosures necessary to present the financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). These Financial Statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2015 included in the Company’s Registration Statement on Form S-1, as amended. The results of operations for the three-month period ended March 31, 2016 are not necessarily indicative of the results to be expected for the entire year or any future periods.
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes to the financial statements. Estimates include, but are not limited to, the valuation and recognition of share-based compensation, the useful lives assigned to long-lived assets and the computation provisions for income taxes. Actual results could differ materially from these estimates.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the three-month period ended March 31, 2016, as compared to the significant accounting policies described in the Company’s Registration Statement on Form S-1, as amended .
Recent Accounting Pronouncements	Recent Accounting Pronouncements During May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) No. 2014-09, Revenue from Contracts with Customers. This updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued an update to defer the effective date of this update by one year. This updated standard becomes effective for the Company in the first quarter of fiscal year 2018, but allows the Company to adopt the standard one year earlier if it so chooses. The Company has not yet selected a transition method and is evaluating the effect that the updated standard will have on its Financial Statements and related disclosures. During February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). For lessees, leases will continue to be classified as either operating or financing in the income statement. This ASU becomes effective for the Company in the first quarter of fiscal year 2019 and early adoption is permitted. This ASU is required to be applied with a modified retrospective approach and requires application of the new standard at the beginning of the earliest comparative period presented. The Company generally does not finance purchases of equipment or other capital, but does lease its facilities. The Company is evaluating the effect that this ASU will have on its Financial Statements and related disclosures. During March 2016, FASB issued ASU No. 2016-09, Improvements to Employee Share-based Payment Accounting. This ASU simplifies the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU requires that excess tax benefits and deficiencies be recognized as income tax benefit or expense in the income statement. The Company currently plans to implement this ASU as required in the first quarter of fiscal year 2017. The Company is evaluating the effect that this ASU will have on its Consolidated Financial Statements and related disclosures.
Net Loss Per Share	Net Loss per Share The following outstanding common stock options and warrants to purchase common stock were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:      Three-Month Periods Ended  March 31,  2016 2015  Common stock warrants 299,625 299,625  Common stock options 954,090 378,275  Total 1,253,715 677,900 

Summary Of Significant Accoun15

Summary Of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Summary Of Significant Accounting Policies [Abstract]
Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share	   Three-Month Periods Ended  March 31,  2016 2015  Common stock warrants 299,625 299,625  Common stock options 954,090 378,275  Total 1,253,715 677,900 

Equipment (Tables)

Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Equipment [Abstract]
Equipment	   March 31, December 31,  2016 2015  Laboratory equipment $ 385 $ 356  Software 20 10  Furniture, fixtures, and equipment 20 20  425 386  Less: Accumulated depreciation (79) (57)  $ 346 $ 329 

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Intangible Assets [Abstract]
Intangible Assets	   March 31, December 31,  2016 2015  Acquired technology $ 4,200 $ 4,200  License 3,785 3,785  7,985 7,985  Less: Accumulated amortization (943) (777)  $ 7,042 $ 7,208 

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Accrued Expenses [Abstract]
Accrued Expenses	   March 31, December 31,  2016 2015  Compensation expense $ 95 $ 34  Offering costs 146 240  Professional fees 113 84  Other — 40  $ 354 $ 398 

Stockholders' Equity And Stoc19

Stockholders' Equity And Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity And Stock-Based Compensation [Abstract]
Total Stock-Based Compensation Expense	   Three-Month Periods Ended  March 31,  2016 2015  General and administrative $ 148 $ 54  Research and development 45 —  Total stock-based compensation expense $ 193 $ 54 

Description Of The Business (Na

Description Of The Business (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 21, 2016	Jun. 21, 2016	May 23, 2016	Mar. 31, 2016
Subsidiary, Sale of Stock [Line Items]
Incorporation state				Nevada
Incorporation date				May 19, 2014
Subsequent Event [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock	$ 20.2
Subsequent Event [Member] | Initial Public Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Shares sold			5,000,000
Price per share			$ 4
Subsequent Event [Member] | Overallotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Shares sold		749,846
Price per share	$ 4	$ 4

Summary Of Significant Accoun21

Summary Of Significant Accounting Policies (Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share) (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,253,715	677,900
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	299,625	299,625
Common Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	954,090	378,275

Equipment (Details)

Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Equipment, gross	$ 425		$ 386
Less: Accumulated depreciation	(79)		(57)
Equipment, net	346		329
Depreciation expense	22	$ 10
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	385		356
Software [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	20		10
Furniture, Fixtures, And Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	$ 20		$ 20

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 7,985	$ 7,985
Less: Accumulated amortization	(943)	(777)
Intangible assets, net	7,042	7,208
Acquired Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	4,200	4,200
License [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 3,785	$ 3,785

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accrued Expenses [Abstract]
Compensation expense	$ 95	$ 34
Offering costs	146	240
Professional fees	113	84
Other		40
Accrued expenses	$ 354	$ 398

Stockholders' Equity And Stoc25

Stockholders' Equity And Stock-Based Compensation (Total Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Total stock-based compensation expense	$ 193	$ 54
General And Administrative [Member]
Total stock-based compensation expense	148	$ 54
Research And Development [Member]
Total stock-based compensation expense	$ 45

Research Grants And Agreements

Research Grants And Agreements (Narrative) (Details)	1 Months Ended	3 Months Ended
	Apr. 30, 2016USD ($)	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development		$ 990,000	$ 421,000
Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development		$ 164,000	300,000
BEM [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research grant funding			340,000
Number of additional grants | item		0
ODURF [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Period of time for Sponsored Research Agreement ("SRA")		12 months
ODURF [Member] | Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development	$ 1,000,000		$ 1,200,000

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($)	3 Months Ended		14 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Intellectual property related expenses	$ 990,000	$ 421,000
ODURF [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Ownership percentage	10.00%
MDB Capital Group, LLC [Member]
Related Party Transaction [Line Items]
Intellectual property related expenses	$ 55,000
MDB Capital Group, LLC [Member] | Initial Public Offering [Member]
Related Party Transaction [Line Items]
Accounts payable for expenses related to IPO	$ 47,000		$ 58,000
MDB Capital Group, LLC [Member] | Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Officers compensation, monthly			$ 4,000
Officer compensation		$ 12,000