XBiotech (XBIT) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 09, 2019
Document Information [Line Items]
Entity Registrant Name	XBiotech Inc.
Entity Central Index Key	0001626878
Trading Symbol	xbit
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		36,113,175
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 12,019	$ 15,823
Prepaid expenses and other current assets	963	1,193
Total current assets	12,982	17,016
Property and equipment, net	26,842	27,329
Total assets	39,824	44,345
Current liabilities:
Accounts payable	1,861	1,653
Accrued expenses	980	1,291
Total current liabilities	2,841	2,944
Long-term liabilities:
Deferred rent		3
Total liabilities	2,841	2,947
Shareholders’ equity:
Preferred stock, no par value, unlimited shares authorized, no shares outstanding	0	0
Common stock, no par value, unlimited shares authorized, 36,090,125 and 35,899,772 shares outstanding at March 31, 2019 and December 31, 2018, respectively	280,664	279,353
Accumulated other comprehensive loss	(117)	(255)
Accumulated deficit	(243,564)	(237,700)
Total shareholders’ equity	36,983	41,398
Total liabilities and shareholders’ equity	$ 39,824	$ 44,345

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares authorized	Unlimited	Unlimited
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares outstanding (in shares)	36,090,125	38,899,772
Common stock, shares authorized	Unlimited	Unlimited

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating expenses:
Research and development	$ 4,527	$ 2,993
General and administrative	1,278	1,157
Total operating expenses	5,805	4,150
Loss from operations	(5,805)	(4,150)
Other income (loss):
Interest income	78	64
Other income	9
Foreign exchange gain (loss)	(146)	17
Total other income (loss)	(59)	81
Net loss	$ (5,864)	$ (4,069)
Net loss per share—basic and diluted (in dollars per share)	$ (0.16)	$ (0.11)
Shares used to compute basic and diluted net loss per share (in shares)	35,977,422	35,447,304

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net loss	$ (5,864)	$ (4,069)
Foreign currency translation adjustment	138	6
Comprehensive loss	$ (5,726)	$ (4,062)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2017	35,439
Balance at Dec. 31, 2017	$ 277,492	$ (768)	$ (216,562)	$ 60,162
Net loss			(4,069)	(4,069)
Foreign currency translation adjustment		6		6
Issuance of common stock under stock option plan (in shares)	81
Issuance of common stock under stock option plan	$ 201			201
Share-based compensation expense	$ 110			110
Balance (in shares) at Mar. 31, 2018	35,520
Balance at Mar. 31, 2018	$ 277,803	(762)	(220,631)	56,410
Balance (in shares) at Dec. 31, 2018	35,900
Balance at Dec. 31, 2018	$ 279,353	(255)	(237,700)	41,398
Net loss			(5,864)	(5,864)
Foreign currency translation adjustment		138		138
Issuance of common stock under stock option plan (in shares)	190
Issuance of common stock under stock option plan	$ 643			643
Stock subscription receivable	(102)			(102)
Collection of stock subscription receivable	200			200
Share-based compensation expense	$ 570			570
Balance (in shares) at Mar. 31, 2019	36,090
Balance at Mar. 31, 2019	$ 280,664	$ (117)	$ (243,564)	$ 36,983

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities
Net loss	$ (5,864)	$ (4,069)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	602	588
Share-based compensation expense	570	110
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	230	232
Accounts payable	99	(596)
Accrued expenses	(311)	212
Deferred rent	(3)	(3)
Net cash used in operating activities	(4,677)	(3,526)
Investing activities
Purchase of property and equipment	(6)	(34)
Net cash used in investing activities	(6)	(34)
Financing activities
Issuance of common stock under stock option plan	541	201
Collection of subscription receivable	200
Net cash provided by financing activities	741	201
Effect of foreign exchange rate on cash and cash equivalents	138	7
Net change in cash and cash equivalents	(3,804)	(3,352)
Cash and cash equivalents, beginning of period	15,823	31,768
Cash and cash equivalents, end of period	12,019	28,416
Supplemental Information:
Accrued purchases of property and equipment	109	25
Subscription receivable	$ 102

Note 1 - Organization

Note 1 - Organization	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization XBiotech Inc. (“XBiotech” or “the Company”) was incorporated in Canada on March 22, 2005. November 2007. August 2010. March 2013. January 2014. XBiotech Inc. is a pre-market biopharmaceutical company engaged in discovering and developing True Human™ monoclonal antibodies for treating a variety of diseases. True Human™ monoclonal antibodies are those which occur naturally in human beings—as opposed to being derived from animal immunization or otherwise engineered. The Company believes that naturally occurring monoclonal antibodies have the potential to be safer and more effective than their non-naturally occurring counterparts. XBiotech is focused on developing its True Human™ pipeline and manufacturing system. The Company’s pipeline consists of product candidates at various stages of development across an array of indications including oncology, dermatology, other inflammatory conditions, such as peripheral vascular disease, type 2

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Significant Accounting Policies Basis of Presentation These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“US GAAP”). In the opinion of management, the accompanying consolidated financial statements reflect all adjustments (consisting only of normal recurring items) considered necessary to present fairly the Company’s financial position at March 31, 2019 December 31, 2018, three March 31, 2019 2018, three March 31, 2019 2018. Basis of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported values of amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. Research and Development Costs All research and development costs are charged to expense as incurred. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract clinical trial research services, the costs of laboratory consumables, equipment and facilities, license fees and other external costs. Costs incurred to acquire licenses for intellectual property to be used in research and development activities with no Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are deferred and capitalized. These nonrefundable advance payments are recorded within other prepaid expenses and other current assets in the consolidated balance sheets. The capitalized amounts are expensed as the related goods are delivered or the services are performed. Share-Based Compensation The Company accounts for its share-based compensation awards in accordance with ASC Topic 718, Compensation-Stock Compensation 718” 718 Share-based compensation expense recognized for the three March 31, 2019 2018 Three Months Ended 2019 2018 Research and development $ 295 $ 88 General and administrative 275 22 Total share-based compensation expense $ 570 $ 110 The fair value of each option is estimated on the date of grant using the Black-Scholes method with the following assumptions: Three Months Ended 2019 2018 Dividend yield - - Expected volatility 80% - 82% 67% - 80% Risk-free interest rate 2.46% - 2.64% 2.38% - 2.71% Expected life (in years) 5.75 - 10 6.0 - 10 Weighted-average grant date fair value per share $3.92 $3.02 Cash and Cash Equivalents The Company considers highly liquid investments with a maturity of three Concentrations of Credit Risk Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents. The Company holds these investments in highly-rated financial institutions, and limits the amounts of credit exposure to any one may not not no Fair Value Measurements The Company follows ASC Topic 820, Fair Value Measurements and Disclosures three • Level 1—Unadjusted • Level 2—Quoted not • Level 3—Unobservable At March 31, 2019 December 31, 2018, not March 31, 2019 December 31, 2018, Property and Equipment Property and equipment, which consists of land, construction in process, furniture and fixtures, computers and office equipment, scientific equipment, leasehold improvements, vehicles and building are stated at cost and depreciated over the estimated useful lives of the assets, with the exception of land and construction in process which are not • Furniture and fixtures 7 • Office equipment 5 • Leasehold improvements Shorter of asset’s useful life or remaining lease term • Scientific equipment 5 • Vehicles 5 • Building 39 Costs of major additions and betterments are capitalized; maintenance and repairs, which do not Impairment of Long-Lived Assets The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment may not not March 31, 2019. Income Taxes Income taxes are recorded in accordance with ASC 740, 740” not not ASC 740 may not Foreign Currency Transactions Certain transactions are denominated in a currency other than the Company’s functional currency of the U.S. dollar, and the Company generates assets and liabilities that are fixed in terms of the amount of foreign currency that will be received or paid. At each balance sheet date, the Company adjusts the assets and liabilities to reflect the current exchange rate, resulting in a translation gain or loss. Transaction gains and losses are also realized upon a settlement of a foreign currency transaction in determining net loss for the period in which the transaction is settled. Comprehensive Income (Loss) ASC Topic 220, Comprehensive Income Segment and Geographic Information Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision making group, in making decisions on how to allocate resources and assess performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Company and the chief operating decision maker view the Company’s operations and manage its business as one Net Loss Per Share Net loss per share (“EPS”) is computed by dividing net loss by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net loss by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include stock options, is computed using the treasury stock method. Subsequent Events The Company considered events or transactions occurring after the balance sheet date but prior to the date the consolidated financial statements are available to be issued for potential recognition or disclosure in its consolidated financial statements. We have evaluated subsequent events through the date of filing this Form 10 Recent Accounting Pronouncements Recently Issued Accounting Pronouncements In February 2016, 842, No. 2016 02, 840, 842 No. 2018 01, 842; No. 2018 10, 842, No. 2018 11, 842, 12 first 2019. January 1, 2019, not not

Note 3 - Property and Equipment

Note 3 - Property and Equipment	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3. Property and Equipment Property and equipment consisted of the following as of December 31, 2019 2018 March 31, 2019 December 31, 2018 Manufacturing equipment $ 4,567 $ 4,937 Winnebago building 19,810 19,945 Other fixed assets 2,465 2,447 Total property and equipment $ 26,842 $ 27,329

Note 4 - Common Stock

Note 4 - Common Stock	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	4. Common Stock Pursuant to its Articles, the Company has an unlimited number of shares available for issuance with no From January December 2018, 161 $2.50 $401 $200 From January March 2019, 190 $2.5 $10.00 $643

Note 5 - Common Stock Options

Note 5 - Common Stock Options	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	5. Common Stock Options On November 11, 2005 April 1, 2015, may may All options will be non-transferable and may first may The term of the options is at the discretion of the Compensation Committee, but may not 10 three The number of common shares reserved for issuance to any one not, 5% A summary of changes in common stock options issued under the Plans is as follows: Options Exercise Price Weighted-Average Options outstanding at December 31, 2018 5,535,439 $2.5 - $21.99 7.30 Granted 215,000 5.15 - 9.84 5.60 Exercised (190,903 ) 2.5 - 10 3.38 Forfeitures (126,875 ) 2.5 - 14.18 8.06 Options outstanding at March 31, 2019 5,432,661 $2.5 - $21.99 7.36 As of March 31, 2019, $3.2 2.02

Note 6 - Subsequent Events

Note 6 - Subsequent Events	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	6. Subsequent Events On April 30, 2019, 4,334,453 424B5 April 30, 2019).

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“US GAAP”). In the opinion of management, the accompanying consolidated financial statements reflect all adjustments (consisting only of normal recurring items) considered necessary to present fairly the Company’s financial position at March 31, 2019 December 31, 2018, three March 31, 2019 2018, three March 31, 2019 2018.
Consolidation, Policy [Policy Text Block]	Basis of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported values of amounts in the financial statements and accompanying notes. Actual results could differ from those estimates.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs All research and development costs are charged to expense as incurred. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract clinical trial research services, the costs of laboratory consumables, equipment and facilities, license fees and other external costs. Costs incurred to acquire licenses for intellectual property to be used in research and development activities with no Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are deferred and capitalized. These nonrefundable advance payments are recorded within other prepaid expenses and other current assets in the consolidated balance sheets. The capitalized amounts are expensed as the related goods are delivered or the services are performed.
Share-based Payment Arrangement [Policy Text Block]	Share-Based Compensation The Company accounts for its share-based compensation awards in accordance with ASC Topic 718, Compensation-Stock Compensation 718” 718 Share-based compensation expense recognized for the three March 31, 2019 2018 Three Months Ended 2019 2018 Research and development $ 295 $ 88 General and administrative 275 22 Total share-based compensation expense $ 570 $ 110 The fair value of each option is estimated on the date of grant using the Black-Scholes method with the following assumptions: Three Months Ended 2019 2018 Dividend yield - - Expected volatility 80% - 82% 67% - 80% Risk-free interest rate 2.46% - 2.64% 2.38% - 2.71% Expected life (in years) 5.75 - 10 6.0 - 10 Weighted-average grant date fair value per share $3.92 $3.02
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers highly liquid investments with a maturity of three
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of Credit Risk Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents. The Company holds these investments in highly-rated financial institutions, and limits the amounts of credit exposure to any one may not not no
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The Company follows ASC Topic 820, Fair Value Measurements and Disclosures three • Level 1—Unadjusted • Level 2—Quoted not • Level 3—Unobservable At March 31, 2019 December 31, 2018, not March 31, 2019 December 31, 2018,
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment, which consists of land, construction in process, furniture and fixtures, computers and office equipment, scientific equipment, leasehold improvements, vehicles and building are stated at cost and depreciated over the estimated useful lives of the assets, with the exception of land and construction in process which are not • Furniture and fixtures 7 • Office equipment 5 • Leasehold improvements Shorter of asset’s useful life or remaining lease term • Scientific equipment 5 • Vehicles 5 • Building 39 Costs of major additions and betterments are capitalized; maintenance and repairs, which do not
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment may not not March 31, 2019.
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are recorded in accordance with ASC 740, 740” not not ASC 740 may not
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Transactions Certain transactions are denominated in a currency other than the Company’s functional currency of the U.S. dollar, and the Company generates assets and liabilities that are fixed in terms of the amount of foreign currency that will be received or paid. At each balance sheet date, the Company adjusts the assets and liabilities to reflect the current exchange rate, resulting in a translation gain or loss. Transaction gains and losses are also realized upon a settlement of a foreign currency transaction in determining net loss for the period in which the transaction is settled.
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (Loss) ASC Topic 220, Comprehensive Income
Segment Reporting, Policy [Policy Text Block]	Segment and Geographic Information Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision making group, in making decisions on how to allocate resources and assess performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Company and the chief operating decision maker view the Company’s operations and manage its business as one
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Share Net loss per share (“EPS”) is computed by dividing net loss by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net loss by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include stock options, is computed using the treasury stock method.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events The Company considered events or transactions occurring after the balance sheet date but prior to the date the consolidated financial statements are available to be issued for potential recognition or disclosure in its consolidated financial statements. We have evaluated subsequent events through the date of filing this Form 10
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Recently Issued Accounting Pronouncements In February 2016, 842, No. 2016 02, 840, 842 No. 2018 01, 842; No. 2018 10, 842, No. 2018 11, 842, 12 first 2019. January 1, 2019, not not

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended 2019 2018 Research and development $ 295 $ 88 General and administrative 275 22 Total share-based compensation expense $ 570 $ 110
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended 2019 2018 Dividend yield - - Expected volatility 80% - 82% 67% - 80% Risk-free interest rate 2.46% - 2.64% 2.38% - 2.71% Expected life (in years) 5.75 - 10 6.0 - 10 Weighted-average grant date fair value per share $3.92 $3.02

Note 3 - Property and Equipme_2

Note 3 - Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, 2019 December 31, 2018 Manufacturing equipment $ 4,567 $ 4,937 Winnebago building 19,810 19,945 Other fixed assets 2,465 2,447 Total property and equipment $ 26,842 $ 27,329

Note 5 - Common Stock Options (

Note 5 - Common Stock Options (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Options Exercise Price Weighted-Average Options outstanding at December 31, 2018 5,535,439 $2.5 - $21.99 7.30 Granted 215,000 5.15 - 9.84 5.60 Exercised (190,903 ) 2.5 - 10 3.38 Forfeitures (126,875 ) 2.5 - 14.18 8.06 Options outstanding at March 31, 2019 5,432,661 $2.5 - $21.99 7.36

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Impairment of Long-Lived Assets Held-for-use	$ 0
Number of Operating Segments	1
Accounting Standards Update 2016-02 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 0
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life	7 years
Office Equipment [Member]
Property, Plant and Equipment, Useful Life	5 years
Equipment [Member]
Property, Plant and Equipment, Useful Life	5 years
Vehicles [Member]
Property, Plant and Equipment, Useful Life	5 years
Building [Member]
Property, Plant and Equipment, Useful Life	39 years
Fair Value, Recurring [Member]
Assets, Fair Value Disclosure	$ 0		$ 0
Financial and Nonfinancial Liabilities, Fair Value Disclosure			$ 0	$ 0

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based compensation expense	$ 570	$ 110
Research and Development Expense [Member]
Share-based compensation expense	295	88
General and Administrative Expense [Member]
Share-based compensation expense	$ 275	$ 22

Note 2 - Significant Accounti_5

Note 2 - Significant Accounting Policies - Stock Option Valuation Assumptions (Details) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Dividend yield
Weighted-average grant date fair value per share (in dollars per share)	$ 3.92	$ 3.02
Minimum [Member]
Expected volatility	80.00%	67.00%
Risk-free interest rate	2.46%	2.38%
Expected life (Year)	5 years 273 days	6 years
Maximum [Member]
Expected volatility	82.00%	80.00%
Risk-free interest rate	2.64%	2.71%
Expected life (Year)	10 years	10 years
Weighted-average grant date fair value per share (in dollars per share)

Note 3 - Property and Equipme_3

Note 3 - Property and Equipment - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment, Net	$ 26,842	$ 27,329
Manufacturing Equipment [Member]
Property, Plant and Equipment, Net	4,567	4,937
Winnebago Building [Member]
Property, Plant and Equipment, Net	19,810	19,945
Property, Plant and Equipment, Other Types [Member]
Property, Plant and Equipment, Net	$ 2,465	$ 2,447

Note 4 - Common Stock (Details

Note 4 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Common Stock, No Par Value	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	190,903	161,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price		$ 2.50
Proceeds from Stock Options Exercised	$ 643	$ 401
Stockholders' Equity Note, Subscriptions Receivable		$ 200
Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 2.50
Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 10

Note 5 - Common Stock Options_2

Note 5 - Common Stock Options (Details Textual) - The Plan [Member] $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Any One Person [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum	5.00%
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 3.2
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 7 days

Note 5 - Common Stock Options -

Note 5 - Common Stock Options - Changes in Common Stock Options Issued (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Options outstanding (in shares)	5,535,439
Granted (in shares)	215,000
Exercised (in shares)	(190,903)	(161,000)
Exercised, exercise price (in dollars per share)		$ 2.50
Forfeitures (in shares)	(126,875)
Options outstanding (in shares)	5,432,661	5,535,439
Minimum [Member]
Options outstanding, exercise price (in dollars per share)	$ 2.50
Granted, exercise price (in dollars per share)	5.15
Exercised, exercise price (in dollars per share)	2.50
Forfeitures, exercise price (in dollars per share)	2.50
Options outstanding, exercise price (in dollars per share)	2.50	$ 2.50
Maximum [Member]
Options outstanding, exercise price (in dollars per share)	21.99
Granted, exercise price (in dollars per share)	9.84
Exercised, exercise price (in dollars per share)	10
Forfeitures, exercise price (in dollars per share)	14.18
Options outstanding, exercise price (in dollars per share)	21.99	21.99
Weighted Average [Member]
Options outstanding, exercise price (in dollars per share)	7.30
Granted, exercise price (in dollars per share)	5.60
Exercised, exercise price (in dollars per share)	3.38
Forfeitures, exercise price (in dollars per share)	8.06
Options outstanding, exercise price (in dollars per share)	$ 7.36	$ 7.30

Note 6 - Subsequent Events (Det

Note 6 - Subsequent Events (Details Textual)	Apr. 30, 2019shares
Subsequent Event [Member] | Equity Distribution Agreement with Piper Jaffray &Co [Member]
Stock Issued During Period, Shares, New Issues	4,334,453