Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 01, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | AVENUE THERAPEUTICS, INC. | |
Entity Central Index Key | 1,644,963 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Trading Symbol | ATXI | |
Entity Common Stock, Shares Outstanding | 10,553,045 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Current Assets: | ||
Cash and cash equivalents | $ 14,963 | $ 11,782 |
Short-term investments | 0 | 10,000 |
Prepaid expenses and other current assets | 310 | 388 |
Total Assets | 15,273 | 22,170 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 5,753 | 2,737 |
Accounts payable and accrued expenses - related party | 167 | 53 |
Total current liabilities | 5,920 | 2,790 |
Total Liabilities | 5,920 | 2,790 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Common Stock ($0.0001 par value), 50,000,000 shares authorized Common shares; 10,552,045 and 10,265,083 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively | 1 | 1 |
Common stock issuable, 0 and 273,837 shares as of March 31, 2018 and December 31, 2017, respectively | 0 | 1,103 |
Additional paid-in capital | 40,390 | 38,937 |
Accumulated deficit | (31,038) | (20,661) |
Total Stockholders' Equity | 9,353 | 19,380 |
Total Liabilities and Stockholders' Equity | 15,273 | 22,170 |
Series A Preferred Stock [Member] | ||
Stockholders' Equity | ||
Preferred Stock ($0.0001 par value), 2,000,000 shares authorized Class A Preferred Stock, 250,000 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively | $ 0 | $ 0 |
CONDENSED BALANCE SHEETS (Paren
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 2,000,000 | 2,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares, Issued | 10,552,045 | 10,265,083 |
Common Stock, Shares, Outstanding | 10,552,045 | 10,265,083 |
Common Stock Shares issuable | 0 | 273,837 |
Series A Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 250,000 | 250,000 |
Preferred Stock, Shares Outstanding | 250,000 | 250,000 |
CONDENSED STATEMENT OF OPERATIO
CONDENSED STATEMENT OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating expenses: | ||
Research and development | $ 9,439 | $ 133 |
General and administration | 986 | 371 |
Loss from operations | (10,425) | (504) |
Interest income | (48) | 0 |
Interest expense | 0 | 95 |
Interest expense - related party | 0 | 61 |
Change in fair value of convertible notes payable | 0 | 4 |
Change in fair value of warrant liabilities | 0 | (3) |
Net Loss | $ (10,377) | $ (661) |
Net loss per common share outstanding, basic and diluted | $ (1.03) | $ (0.22) |
Weighted average number of common shares outstanding, basic and diluted | 10,099,331 | 3,022,846 |
CONDENSED STATEMENT OF STOCKHOL
CONDENSED STATEMENT OF STOCKHOLDERS’ EQUITY - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands | Total | Class A Preferred [Member] | Common Stock [Member] | Common Stock issuable [Member] | Additional Paid-in Capital [Member] | Accumulated deficit [Member] |
Balance at Dec. 31, 2017 | $ 19,380 | $ 0 | $ 1 | $ 1,103 | $ 38,937 | $ (20,661) |
Balance (Shares) at Dec. 31, 2017 | 250,000 | 10,265,083 | 273,837 | |||
Issuance of common shares - Founders Agreement | 0 | $ 0 | $ 0 | $ (1,103) | 1,103 | 0 |
Issuance of common shares - Founders Agreement (in shares) | 0 | 273,837 | (273,837) | |||
Exercise of warrants under the NSC Note | 0 | $ 0 | $ 0 | $ 0 | 0 | 0 |
Exercise of warrants under the NSC Note (in shares) | 0 | 13,125 | 0 | |||
Share based compensation | 350 | $ 0 | $ 0 | $ 0 | 350 | 0 |
Share based compensation (in shares) | 0 | 0 | 0 | |||
Net loss | (10,377) | $ 0 | $ 0 | $ 0 | 0 | (10,377) |
Balance at Mar. 31, 2018 | $ 9,353 | $ 0 | $ 1 | $ 0 | $ 40,390 | $ (31,038) |
Balance (Shares) at Mar. 31, 2018 | 250,000 | 10,552,045 | 0 |
CONDENSED STATEMENT OF CASH FLO
CONDENSED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (10,377) | $ (661) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Share based compensation | 350 | 5 |
Change in fair value of convertible notes payable | 0 | 4 |
Change in fair value of warrant liabilities | 0 | (3) |
Debt discount amortization | 0 | 33 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 78 | 0 |
Accounts payable and accrued expenses | 3,016 | 362 |
Accounts payable and accrued expenses - related party | 114 | 220 |
Interest payable | 0 | (52) |
Accrued interest - related party | 0 | 58 |
Net cash used in operating activities | (6,819) | (34) |
Cash flows from investing activities: | ||
Maturity of Short-term investments (certificates of deposits) | 10,000 | 0 |
Net cash provided by investing activities | 10,000 | 0 |
Cash flows from financing activities: | ||
Deferred financing costs | 0 | (234) |
Proceeds from notes payable - related party | 0 | 71 |
Net cash used in financing activities | 0 | (163) |
Net change in cash | 3,181 | (197) |
Cash and cash equivalents, beginning of period | 11,782 | 197 |
Cash and cash equivalents, end of period | 14,963 | 0 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | $ 0 | $ 115 |
Organization, Plan of Business
Organization, Plan of Business Operations | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 - Organization, Plan of Business Operations Avenue Therapeutics, Inc. (the “Company” or “Avenue”) was incorporated in Delaware on February 9, 2015, as a wholly owned subsidiary of Fortress Biotech, Inc. (“Fortress”), to develop and market pharmaceutical products for the acute care setting in the United States. The Company will focus on developing its product candidate, an intravenous (“IV”) formulation of tramadol HCI (“IV Tramadol”), for moderate to moderately severe post-operative pain. Liquidity and Capital Resources The Company has incurred substantial operating losses since its inception and expects to continue to incur significant operating losses for the foreseeable future as it executes on its product development plan and may never become profitable. As of March 31, 2018, the Company had an accumulated deficit of $ 31.0 The Company’s development plan anticipates that its cash and cash equivalents at March 31, 2018 will provide sufficient liquidity for the period through May 3, 2019. However, the Company will need to raise additional funding through strategic relationships, public or private equity or debt financings, grants or other arrangements. If such funding is not available or not available on terms acceptable to the Company, the current development plan will be curtailed. |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Note 2 Significant Accounting Policies The accompanying unaudited interim condensed financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These unaudited interim condensed financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. Therefore, these unaudited interim condensed financial statements should be read in conjunction with the Company's audited financial statements and notes thereto for the year ended December 31, 2017, which were included in the Company’s Form 10-K, and filed with the U.S. Securities and Exchange Commission (“SEC”) on March 1, 2018. The results of operations for any interim periods are not necessarily indicative of the results that may be expected for the entire fiscal year or any other interim period. The unaudited interim condensed financial statements may not be indicative of future performance and may not reflect what the results of operations, financial position, and cash flows would have been had Avenue operated as an independent entity. Certain estimates, including allocations from Fortress, have been made to provide financial statements for stand-alone reporting purposes. Inter-company transactions between Fortress and Avenue are classified as Accounts Payable and Accrued Expenses - Related Party in the unaudited interim condensed financial statements. The Company believes that the assumptions underlying the unaudited interim condensed financial statements are reasonable. The Company has no subsidiaries. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. In September 2016, the Company issued 250,000 2.5 The Company recorded the Annual Stock Dividend due to Fortress as contingent consideration. Contingent consideration is recorded when probable and reasonably estimable. The Company’s future share prices cannot be estimated due to the nature of its assets and the Company’s stage of development. Due to these uncertainties, the Company concluded that it could not reasonably estimate the contingent consideration until shares were actually issued on February 17, 2018 and February 17, 2017. Because the issuance of shares on February 17, 2018 and 2017 occurred prior to the issuance of the December 31, 2017 and 2016 financial statements, respectively, the Company recorded approximately $ 1.1 49,000 Loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding, excluding unvested restricted stock and stock options, during the period. Since dividends are declared paid and set aside among the holders of shares of common stock and Class A common stock pro-rata on an as-if-converted basis, the two-class method of computing net loss per share is not required. For the Three Months Ended March 31, March 31, 2018 2017 Restricted stock units/awards 714,999 274,999 Preferred shares 250,000 250,000 Options 20,000 - Total potential dilutive effect 984,999 524,999 In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business In May 2017, the FASB issued ASU No. 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting |
Allocation
Allocation | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 3 Allocation The expense allocations to Avenue, which represent Lucy Lu’s executive compensation, have been paid by Fortress and allocated by the Company between Avenue and Fortress based on time spent on Avenue projects versus time spent on Fortress projects. The allocations were based on assumptions that management believes are reasonable; however, these allocations are not necessarily indicative of the costs and expenses that would have resulted if Avenue had been operating as a stand-alone entity. Since Lucy Lu became a full-time employee for Avenue in June 2017, the allocations ceased as her time spent was 100 0 0.1 50 50 |
Related Party Agreements
Related Party Agreements | 3 Months Ended |
Mar. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 4 Related Party Agreements Management Services Agreement with Fortress Effective as of February 17, 2015, Fortress entered into a Management Services Agreement (the “MSA”) with Avenue to provide advisory and consulting services to Avenue for a period of five (5) years. Services provided under the MSA may include, without limitation, (i) advice and assistance concerning any and all aspects of Avenue’s operations, clinical trials, financial planning and strategic transactions and financings and (ii) conducting relations on behalf of Avenue with accountants, attorneys, financial advisors and other professionals (collectively, the “Services”). Avenue is obligated to utilize clinical research services, medical education, communication and marketing services and investor relations/public relation services of companies or individuals designated by Fortress, provided those services are offered at market prices. However, Avenue is not obligated to take or act upon any advice rendered from Fortress and Fortress shall not be liable for any of Avenue’s actions or inactions based upon their advice. Fortress and its affiliates, including all members of Avenue’s Board of Directors, have been contractually exempt from fiduciary duties to Avenue relating to corporate opportunities. In consideration for the Services, Avenue will pay Fortress an annual consulting fee of $ 0.5 1.0 100.0 0.1 |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 3 Months Ended |
Mar. 31, 2018 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 5 Accounts Payable and Accrued Expenses As of March 31, As of December 31, 2018 2017 Accounts payable $ 3,909 $ 1,545 Accrued employee compensation 73 215 Accrued contracted services and other 1,771 977 Accounts payable and accrued expenses $ 5,753 $ 2,737 |
Stockholders_ Equity
Stockholders’ Equity | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 6 Stockholders’ Equity Awards to Fortress Pursuant to the Company’s Second Amended and Restated Certificate of Incorporation for the annual stock dividend that was due on February 17, 2018, the Company issued 273,837 2.5 Equity Incentive Plan The Company has in effect the 2015 Incentive Plan (“2015 Incentive Plan”). The 2015 Incentive Plan was adopted in January 2015 by our stockholders. Under the 2015 Incentive Plan, the compensation committee of the Company’s board of directors is authorized to grant stock-based awards to directors, officers, employees and consultants. The plan authorizes grants to issue up to 2,000,000 Restricted Stock Units and Restricted Stock Awards The following table summarizes restricted stock unit and award activity for the three months ended March 31, 2018: Number of Units Weighted Unvested balance at December 31, 2017 714,999 $ 5.00 Granted - $ - Vested - $ - Unvested balance at March 31, 2018 714,999 $ 5.00 For the three months ended March 31, 2018 and 2017, stock-based compensation expenses associated with the amortization of restricted stock units and restricted stock awards for employees and non-employees were approximately $ 0.4 5,000 At March 31, 2018, the Company had unrecognized stock-based compensation expense related to restricted stock units and restricted stock awards of $ 2.5 2.3 Stock Options Stock Options Weighted Weighted Average Outstanding, December 31, 2017 20,000 $ 6.29 4.63 Granted - - - Outstanding, March 31, 2018 20,000 $ 6.29 4.38 Stock Warrants The following table summarizes the warrant activity for the three months ended March 31, 2018: Warrants Weighted Aggregate Outstanding, December 31, 2017 123,413 $ 0.0828 $ 438 Exercised (13,125) $ 0.0001 Outstanding, March 31, 2018 110,288 $ 0.0929 $ 487 |
Significant Accounting Polici13
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These unaudited interim condensed financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. Therefore, these unaudited interim condensed financial statements should be read in conjunction with the Company's audited financial statements and notes thereto for the year ended December 31, 2017, which were included in the Company’s Form 10-K, and filed with the U.S. Securities and Exchange Commission (“SEC”) on March 1, 2018. The results of operations for any interim periods are not necessarily indicative of the results that may be expected for the entire fiscal year or any other interim period. The unaudited interim condensed financial statements may not be indicative of future performance and may not reflect what the results of operations, financial position, and cash flows would have been had Avenue operated as an independent entity. Certain estimates, including allocations from Fortress, have been made to provide financial statements for stand-alone reporting purposes. Inter-company transactions between Fortress and Avenue are classified as Accounts Payable and Accrued Expenses - Related Party in the unaudited interim condensed financial statements. The Company believes that the assumptions underlying the unaudited interim condensed financial statements are reasonable. The Company has no subsidiaries. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. |
Stockholders' Equity, Policy [Policy Text Block] | Annual Stock Dividend In September 2016, the Company issued 250,000 2.5 The Company recorded the Annual Stock Dividend due to Fortress as contingent consideration. Contingent consideration is recorded when probable and reasonably estimable. The Company’s future share prices cannot be estimated due to the nature of its assets and the Company’s stage of development. Due to these uncertainties, the Company concluded that it could not reasonably estimate the contingent consideration until shares were actually issued on February 17, 2018 and February 17, 2017. Because the issuance of shares on February 17, 2018 and 2017 occurred prior to the issuance of the December 31, 2017 and 2016 financial statements, respectively, the Company recorded approximately $ 1.1 49,000 |
Earnings Per Share, Policy [Policy Text Block] | Net loss per Share Loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding, excluding unvested restricted stock and stock options, during the period. Since dividends are declared paid and set aside among the holders of shares of common stock and Class A common stock pro-rata on an as-if-converted basis, the two-class method of computing net loss per share is not required. For the Three Months Ended March 31, March 31, 2018 2017 Restricted stock units/awards 714,999 274,999 Preferred shares 250,000 250,000 Options 20,000 - Total potential dilutive effect 984,999 524,999 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business In May 2017, the FASB issued ASU No. 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting |
Significant Accounting Polici14
Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table Text Block] | The following table sets forth the potential common shares that could potentially dilute basic income per share in the future that were not included in the computation of diluted income (loss) per share because to do so would have been anti-dilutive for the periods presented: For the Three Months Ended March 31, March 31, 2018 2017 Restricted stock units/awards 714,999 274,999 Preferred shares 250,000 250,000 Options 20,000 - Total potential dilutive effect 984,999 524,999 |
Accounts Payable and Accrued 15
Accounts Payable and Accrued Expenses (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | Accounts payable, accrued expenses and other liabilities consisted of the following (in thousands): As of March 31, As of December 31, 2018 2017 Accounts payable $ 3,909 $ 1,545 Accrued employee compensation 73 215 Accrued contracted services and other 1,771 977 Accounts payable and accrued expenses $ 5,753 $ 2,737 |
Stockholders_ Equity (Tables)
Stockholders’ Equity (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block] | The following table summarizes restricted stock unit and award activity for the three months ended March 31, 2018: Number of Units Weighted Unvested balance at December 31, 2017 714,999 $ 5.00 Granted - $ - Vested - $ - Unvested balance at March 31, 2018 714,999 $ 5.00 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock Options Weighted Weighted Average Outstanding, December 31, 2017 20,000 $ 6.29 4.63 Granted - - - Outstanding, March 31, 2018 20,000 $ 6.29 4.38 |
Share-based Compensation, Activity [Table Text Block] | The following table summarizes the warrant activity for the three months ended March 31, 2018: Warrants Weighted Aggregate Outstanding, December 31, 2017 123,413 $ 0.0828 $ 438 Exercised (13,125) $ 0.0001 Outstanding, March 31, 2018 110,288 $ 0.0929 $ 487 |
Organization, Plan of Busines17
Organization, Plan of Business Operations (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Retained Earnings (Accumulated Deficit) | $ (31,038) | $ (20,661) |
Significant Accounting Polici18
Significant Accounting Policies (Details) - shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Total potential dilutive effect shares outstanding | 984,999 | 524,999 |
Restricted stock units/awards | ||
Total potential dilutive effect shares outstanding | 714,999 | 274,999 |
Preferred shares | ||
Total potential dilutive effect shares outstanding | 250,000 | 250,000 |
Options | ||
Total potential dilutive effect shares outstanding | 20,000 | 0 |
Significant Accounting Polici19
Significant Accounting Policies (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Stock Issued During Period, Shares, New Issues | 250,000 | ||
Preferred Stock, Dividend Rate, Percentage | 2.50% | ||
Research and Development in Process | $ 1,100,000 | $ 49,000 |
Allocation (Details Textual)
Allocation (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | |
Jun. 30, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Allocated Share-based Compensation Expense | $ 0 | $ 0.1 | |
Share Based Compensation Allocation Percentage | 100.00% | ||
Research and Development Expense [Member] | |||
Share Based Compensation Allocation Percentage | 50.00% | ||
General and Administrative Expense [Member] | |||
Share Based Compensation Allocation Percentage | 50.00% |
Related Party Agreements (Detai
Related Party Agreements (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | |
Feb. 17, 2015 | Mar. 31, 2018 | Mar. 31, 2017 | |
Service Agreement Expenses | $ 0.1 | $ 0.1 | |
Asset Management Income [Member] | |||
Annual Consulting Fee | $ 0.5 | ||
Increase In Annual Consulting Fee | 1 | ||
Excess In Net Assets Value | $ 100 |
Accounts Payable and Accrued 22
Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts payable | $ 3,909 | $ 1,545 |
Accrued employee compensation | 73 | 215 |
Accrued contracted services and other | 1,771 | 977 |
Accounts payable and accrued expenses | $ 5,753 | $ 2,737 |
Stockholders_ Equity (Details)
Stockholders’ Equity (Details) - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Number of Units, Unvested Beginning Balance | shares | 714,999 |
Number of Units, Granted | shares | 0 |
Number of Units, Vested | shares | 0 |
Number of Units, Unvested Ending Balance | shares | 714,999 |
Weighted Average Grant Date Fair Value, Unvested Beginning Balance | $ / shares | $ 5 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 0 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 0 |
Weighted Average Grant Date Fair Value, Unvested Ending Balance | $ / shares | $ 5 |
Stockholders_ Equity (Details1)
Stockholders’ Equity (Details1) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Stock Options, Outstanding, Begining | 20,000 | |
Stock Options, Granted | 0 | |
Stock Options, Outstanding, Ending | 20,000 | 20,000 |
Weighted Average Exercise Price, Outstanding, Begining | $ 6.29 | |
Weighted Average Exercise Price, Granted | 0 | |
Weighted Average Exercise Price, Outstanding, Ending | $ 6.29 | $ 6.29 |
Weighted Average Remaining Contractual Life (in years) | 4 years 4 months 17 days | 4 years 7 months 17 days |
Stockholders_ Equity (Details 2
Stockholders’ Equity (Details 2) - Warrant [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Number of Units, Unvested Beginning Balance | 123,413 | |
Warrants, Exercised | (13,125) | |
Number of Units, Unvested Ending Balance | 110,288 | |
Weighted Average Exercise Price, Outstanding | $ 0.0828 | |
Weighted Average Exercise Price, Exercised | 0.0001 | |
Weighted Average Exercise Price, Outstanding | $ 0.0929 | |
Aggregate Intrinsic Value | $ 487 | $ 438 |
Stockholders_ Equity (Deficit)
Stockholders’ Equity (Deficit) (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Feb. 17, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Share-based Compensation | $ 350,000 | $ 5,000 | ||
2015 Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Description and Terms | 10 years | |||
Fortress Biotech, Inc [Member] | ||||
Stock Issuance Common Stock Issuable During Period, Shares | 273,837 | |||
Percentage of Diluted outstanding Equity | 2.50% | |||
Restricted Stock [Member] | ||||
Share-based Compensation | $ 400,000 | $ 5,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 2,500,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 3 months 18 days |