Abeona Therapeutics (ABEO) 10-Q 15 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 15, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ABEONA THERAPEUTICS INC.
Entity Central Index Key	318,306
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		33,545,703
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 34,303,000	$ 40,138,000
Receivables	112,000	115,000
Prepaid expenses and other current assets	206,000	315,000
Total current assets	34,621,000	40,568,000
Property and equipment, net	639,000	350,000
Licensed technology, net	6,318,000	6,609,000
Goodwill	32,466,000	32,466,000
Other assets	108,000	62,000
Total assets	74,152,000	80,055,000
Current liabilities
Accounts payable	2,105,000	875,000
Current portion of deferred revenue	602,000	602,000
Contingent consideration liability	2,000,000	0
Payable due Licensor	4,000,000	0
Total current liabilities	8,707,000	1,477,000
Contingent consideration liability	0	2,591,000
Payable due Licensor	0	4,000,000
Long-term deferred revenue	3,965,000	4,266,000
Total liabilities	12,672,000	12,334,000
Commitments and contingencies
Stockholders' equity
Common stock - $.01 par value; authorized 200,000,000 shares; issued, 32,795,703 at June 30, 2016 and 32,743,013 at December 31, 2015	328,000	328,000
Additional paid-in capital	383,999,000	377,993,000
Accumulated deficit	(322,847,000)	(310,600,000)
Total stockholders' equity	61,480,000	67,721,000
Total liabilities and stockholders' equity	$ 74,152,000	$ 80,055,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	32,795,703	32,743,013

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues
License revenues	$ 150,000	$ 150,000	$ 301,000	$ 301,000
Royalties	64,000	132,000	148,000	239,000
Total revenues	214,000	282,000	449,000	540,000
Expenses
Research and development	3,018,000	610,000	4,873,000	1,063,000
General and administrative	3,730,000	3,667,000	8,096,000	5,356,000
Depreciation and amortization	181,000	132,000	355,000	250,000
Total expenses	6,929,000	4,409,000	13,324,000	6,669,000
Loss from operations	(6,715,000)	(4,127,000)	(12,875,000)	(6,129,000)
Interest and miscellaneous income	13,000	16,000	631,000	19,000
Interest and other expense	(1,000)	(2,000)	(3,000)	(3,000)
Total non operating income (expense)	12,000	14,000	628,000	16,000
Net loss	$ (6,703,000)	$ (4,113,000)	$ (12,247,000)	$ (6,113,000)
Basic and diluted loss per common share (in dollars per share)	$ (0.20)	$ (0.16)	$ (0.37)	$ (0.27)
Weighted average number of common shares outstanding (in shares)	32,784,123	25,695,973	32,763,568	22,855,642

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Common Stock [Member]Employees and Directors [Member]	Additional paid-in capital [Member]	Additional paid-in capital [Member]Employees and Directors [Member]	Accumulated deficit [Member]	Accumulated deficit [Member]Employees and Directors [Member]	Total	Employees and Directors [Member]
Balance at Dec. 31, 2015	$ 328,000		$ 377,993,000		$ (310,600,000)		$ 67,721,000
Balance (in shares) at Dec. 31, 2015	32,743,013
Restricted common stock issued for $2.85		$ 0		$ 1,892,000		$ 0		$ 1,892,000
Restricted common stock issued for $2.85 (in shares)		0
Stock option compensation expense	$ 0		1,592,000		0		1,592,000
Net loss	0		0		(5,544,000)		(5,544,000)
Balance at Mar. 31, 2016	$ 328,000		381,477,000		(316,144,000)		65,661,000
Balance (in shares) at Mar. 31, 2016	32,743,013
Balance at Dec. 31, 2015	$ 328,000		377,993,000		(310,600,000)		67,721,000
Balance (in shares) at Dec. 31, 2015	32,743,013
Net loss							(12,247,000)
Balance at Jun. 30, 2016	$ 328,000		383,999,000		(322,847,000)		61,480,000
Balance (in shares) at Jun. 30, 2016	32,795,703
Balance at Mar. 31, 2016	$ 328,000		381,477,000		(316,144,000)		65,661,000
Balance (in shares) at Mar. 31, 2016	32,743,013
Restricted common stock issued for $2.85	$ 0	$ 0	150,000	$ 987,000	0	$ 0	150,000	$ 987,000
Restricted common stock issued for $2.85 (in shares)	52,690	0
Stock option compensation expense	$ 0		1,385,000		0		1,385,000
Net loss	0		0		(6,703,000)		(6,703,000)
Balance at Jun. 30, 2016	$ 328,000		$ 383,999,000		$ (322,847,000)		$ 61,480,000
Balance (in shares) at Jun. 30, 2016	32,795,703

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical)	Jun. 30, 2016$ / shares
Condensed Consolidated Statements of Stockholders' Equity [Abstract]
Restricted common stock issued price (in dollars per share)	$ 2.85

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net loss	$ (12,247,000)	$ (6,113,000)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	355,000	250,000
Stock option compensation expense	2,977,000	1,128,000
Stock issued to directors, employees and consultants	2,879,000	1,068,000
Stock issued for services	0	162,000
Change in operating assets and liabilities:
Receivables	3,000	(294,000)
Prepaid expenses and other current assets	109,000	(194,000)
Other assets	(46,000)	(9,000)
Accounts payable	1,230,000	(731,000)
Contingent consideration liability	(591,000)	0
Deferred revenue	(301,000)	(301,000)
Net cash used in operating activities	(5,632,000)	(5,034,000)
Cash flows from investing activities:
Capital expenditures	(353,000)	(14,000)
Cash from Abeona Ohio	0	3,697,000
Net cash (used in) provided by investing activities	(353,000)	3,683,000
Cash flows from financing activities:
Proceeds from exercise of $5.00 warrants	0	4,635,000
Proceeds from $2.85 restricted common stock issuance	150,000	0
Payment of short-term debt	0	(400,000)
Net cash provided by financing activities	150,000	20,241,000
Net increase (decrease) in cash and cash equivalents	(5,835,000)	18,890,000
Cash and cash equivalents at beginning of period	40,138,000	11,520,000
Cash and cash equivalents at end of period	34,303,000	30,410,000
Supplemental disclosure of noncash transactions:
Shares issued to holders of Abeona Ohio for acquisition	0	31,758,000
Contingent milestones to Abeona Ohio members	0	6,489,000
Licensed technology from Abeona Ohio	0	2,156,000
$3.00 Common Stock Issuance [Member]
Cash flows from financing activities:
Proceeds from common stock issuances net of costs	0	7,001,000
$8.00 Common Stock Issuance [Member]
Cash flows from financing activities:
Proceeds from common stock issuances net of costs	$ 0	$ 9,005,000

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (unaudited) (Parenthetical)	Jun. 30, 2016$ / shares
Share price (in dollars per share)	$ 2.85
Exercise price of warrants (in dollars per share)	5
Restricted Common Stock [Member]
Share price (in dollars per share)	2.85
$3.00 Common Stock Issuance [Member]
Share price (in dollars per share)	3
$8.00 Common Stock Issuance [Member]
Share price (in dollars per share)	$ 8

Interim Financial Statements

Interim Financial Statements	6 Months Ended
	Jun. 30, 2016
Interim Financial Statements [Abstract]
Interim Financial Statements	(1) Interim Financial Statements The condensed consolidated balance sheet as of June 30, 2016, the condensed consolidated statements of operations for the three and six months ended June 30, 2016 and 2015, the condensed consolidated statements of stockholders’ equity for the three and six months ended June 30, 2016, and the condensed consolidated statements of cash flows for the six months ended June 30, 2016 and 2015, were prepared by management without audit. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, except as otherwise disclosed, necessary for the fair presentation of the financial position, results of operations, and changes in financial position for such periods, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these interim financial statements be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. The results of operations for the period ended June 30, 2016 are not necessarily indicative of the operating results which may be expected for a full year. The condensed consolidated balance sheet as of December 31, 2015 contains financial information taken from the audited Abeona financial statements as of that date.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2016
Intangible Assets [Abstract]
Intangible Assets	(2) Intangible Assets Intangible assets consist of the following (in thousands): June 30, 2016 December 31, 2015 Gross carrying value Accumulated amortization Gross carrying value Accumulated Amortization Amortizable intangible assets Licensed technology $ 7,156 $ 838 $ 7,156 $ 547 Amortization expense related to intangible assets totaled $146,000 and $291,000 for the three and six months ended June 30, 2016, respectively, and totaled $116,000 and $232,000 for the three and six months ended June 30, 2015, respectively. The aggregate estimated amortization expense for intangible assets remaining as of June 30, 2016 is as follows (in thousands): 2016 $ 290 2017 582 2018 582 2019 582 2020 582 over 5 years 3,700 Total $ 6,318

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	(3) Fair Value Measurements We calculate the fair value of our assets and liabilities which qualify as financial instruments and include additional information in the notes to the consolidated financial statements when the fair value is different than the carrying value of these financial instruments. The estimated fair value of receivables, accounts payable, short-term notes payable and payable to licensor approximate their carrying amounts due to the relatively short maturity of these instruments. U.S. GAAP define’s fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. This guidance establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: · Level 1 – Quoted prices in active markets for identical assets or liabilities. · Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. · Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar valuation techniques that use significant unobservable inputs. The guidance requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We have segregated all financial assets and liabilities that are measured at fair value on a recurring basis (at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. Financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 are summarized below: (in thousands) Description As of June 30, 2016 Level 1 Level 2 Level 3 Total Gains (Losses) Assets: Licensed technology (net) $ 6,318 $ - $ - $ 6,318 $ - Goodwill 32,466 - - 32,466 - Liabilities: Contingent consideration $ 2,000 $ - $ - $ 2,000 $ 591 (in thousands) Description As of December 31, 2015 Level 1 Level 2 Level 3 Total Gains (Losses) Liabilities: Contingent consideration $ 2,591 $ - $ - $ 2,591 $ 3,898

Stock Based Compensation and Re

Stock Based Compensation and Restricted Stock Compensation	6 Months Ended
	Jun. 30, 2016
Stock Based Compensation and Restricted Stock Compensation [Abstract]
Stock Based Compensation and Restricted Stock Compensation	(4) Stock Based Compensation and Restricted Stock Compensation For the three and six months ended June 30, 2016, we recognized stock-based compensation expense of $1,385 ,000 ,000 . The following table summarizes stock-based compensation for the three and six months ended June 30, 2016 and 2015: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Research and development $ 314,000 $ 86,000 $ 664,000 $ 104,000 Selling, general and administrative 1,071,000 818,000 2,313,000 1,024,000 Stock-based compensation expense included in operating expense $ 1,385,000 $ 904,000 $ 2,977,000 $ 1,128,000 For the three and six months ended June 30, 2016 we granted 125,000 and 1,440,000 stock options, respectively, and for the three and six months ended June 30, 2015 we granted 1,695,000 and 1,815,000 stock options. For the three and six months ended June 30, 2016, we recognized restricted stock compensation expense of $987 ,000 ,000 . The following table summarizes restricted stock compensation expense for the three and six months ended June 30, 2016 and 2015: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Research and development $ 62,000 $ 75,000 $ 200,000 $ 91,000 Selling, general and administrative 925,000 961,000 2,679,000 977,000 Restricted stock compensation expense included in operating expense $ 987,000 $ 1,036,000 $ 2,879,000 $ 1,068,000 For the three and six months ended June 30, 2016 no shares were granted to directors and employees. For the three and six months ended June 30, 2015 we granted 1,350,000 and 1,360,000 shares, respectively of our common stock to directors and employees.

Litigation

Litigation	6 Months Ended
	Jun. 30, 2016
Litigation [Abstract]
Litigation	(5) Litigation We are not currently subject to any material legal proceedings.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	(6) Subsequent Events We EBRP and EBMRF have the contractual right to license from Stanford EB-101 (LZRSE-Col7A1 Engineered Autologous Epidermal Sheets (LEAES)), and wishes to have Abeona exercise such rights and enter into a license with Stanford for such technology, and perform preclinical development and perform clinical trials of a gene therapy treatment for Epidermolysis Bullosa based upon such in-licensed technology. Abeona shall also enter into a license with Stanford for the AAV-based gene therapy EB-201 (AAV DJ COL7A1) technology, and Abeona shall perform preclinical development and perform clinical trials of a gene therapy treatment for EB based upon such in-licensed technology. In connection with the Agreement Abeona will issue to EBRP and EBMRF an aggregate of 750,000 unregistered shares of Abeona Common Stock, $0.01 par value per share, 375,000 each to EBRP and EBMRF. The offer, sale, and issuance of the shares of Abeona common stock are exempt from registration pursuant to Rule 506 of Regulation D and Section 4(2) of the Securities Act of 1933, as amended. The recipients of securities under the Agreement agreed that day are acquiring the securities for investment only and not with a view to or for sale in connection with any distribution thereof and appropriate legends are to be affixed to the securities to be issued in conjunction with the Agreement. The shares will be subject to restrictions on selling, transferring or otherwise disposing of such shares. These restrictions shall lapse with respect to an aggregate 250,000 shares on the first anniversary of the issue date; and with respect to an additional aggregate 500,000 shares on the second anniversary of the issue date. We have an option to acquire an additional license in the future for an additional amount shares as set forth in the Agreement. On August 3, 2016 we also entered into two licensing agreements between us and Stanford to develop EB-101 (LZRSE-Col7A1 Engineered Autologous Epidermal Sheets (LEAES)) and EB-201 (AAV DJ COL7A1). And the second agreement to license the invention “Gene Therapy for Recessive Dystrophic EB using Genetically Corrected Autologous Keratinocytes”. Under the terms of the licensing agreements, we will pay a upfront licensing fees in cash, annual license maintenance fees and subject to the achievement of certain milestones, regulatory approval milestone payments, and royalty payments on annual net sales of the licensed product.

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Intangible Assets [Abstract]
Schedule of amortizable intangible assets	Intangible assets consist of the following (in thousands): June 30, 2016 December 31, 2015 Gross carrying value Accumulated amortization Gross carrying value Accumulated Amortization Amortizable intangible assets Licensed technology $ 7,156 $ 838 $ 7,156 $ 547
Amortization expense related to intangible assets	The aggregate estimated amortization expense for intangible assets remaining as of June 30, 2016 is as follows (in thousands): 2016 $ 290 2017 582 2018 582 2019 582 2020 582 over 5 years 3,700 Total $ 6,318

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
Financial assets and liabilities measured at fair value on recurring basis	Financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 are summarized below: (in thousands) Description As of June 30, 2016 Level 1 Level 2 Level 3 Total Gains (Losses) Assets: Licensed technology (net) $ 6,318 $ - $ - $ 6,318 $ - Goodwill 32,466 - - 32,466 - Liabilities: Contingent consideration $ 2,000 $ - $ - $ 2,000 $ 591 (in thousands) Description As of December 31, 2015 Level 1 Level 2 Level 3 Total Gains (Losses) Liabilities: Contingent consideration $ 2,591 $ - $ - $ 2,591 $ 3,898

Stock Based Compensation and 17

Stock Based Compensation and Restricted Stock Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Summarization of stock-based compensation	The following table summarizes stock-based compensation for the three and six months ended June 30, 2016 and 2015: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Research and development $ 314,000 $ 86,000 $ 664,000 $ 104,000 Selling, general and administrative 1,071,000 818,000 2,313,000 1,024,000 Stock-based compensation expense included in operating expense $ 1,385,000 $ 904,000 $ 2,977,000 $ 1,128,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Summarization of stock-based compensation	The following table summarizes restricted stock compensation expense for the three and six months ended June 30, 2016 and 2015: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Research and development $ 62,000 $ 75,000 $ 200,000 $ 91,000 Selling, general and administrative 925,000 961,000 2,679,000 977,000 Restricted stock compensation expense included in operating expense $ 987,000 $ 1,036,000 $ 2,879,000 $ 1,068,000

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Amortizable intangible assets [Abstract]
Amortization expense related to intangible assets	$ 146,000	$ 116,000	$ 291,000	$ 232,000
Amortization expense for intangible assets [Abstract]
2,016	290,000		290,000
2,017	582,000		582,000
2,018	582,000		582,000
2,019	582,000		582,000
2,020	582,000		582,000
over 5 years	3,700,000		3,700,000
Total	6,318,000		6,318,000		$ 6,609,000
Licensed Technology [Member]
Amortizable intangible assets [Abstract]
Gross carrying value	7,156,000		7,156,000		7,156,000
Accumulated amortization	$ 838,000		$ 838,000		$ 547,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Liabilities [Abstract]
Contingent consideration	$ 0	$ 2,591,000
Recurring [Member]
Assets [Abstract]
Licensed technology (net)	6,318,000
Goodwill	32,466,000
Liabilities [Abstract]
Contingent consideration	2,000,000	2,591,000
Recurring [Member] | Contingent Consideration [Member]
Liabilities [Abstract]
Total gains (losses)	591,000	3,898,000
Recurring [Member] | Licensed Technology [Member]
Liabilities [Abstract]
Total gains (losses)	0
Recurring [Member] | Goodwill [Member]
Liabilities [Abstract]
Total gains (losses)	0
Recurring [Member] | Level 1 [Member]
Assets [Abstract]
Licensed technology (net)	0
Goodwill	0
Liabilities [Abstract]
Contingent consideration	0	0
Recurring [Member] | Level 2 [Member]
Assets [Abstract]
Licensed technology (net)	0
Goodwill	0
Liabilities [Abstract]
Contingent consideration	0	0
Recurring [Member] | Level 3 [Member]
Assets [Abstract]
Licensed technology (net)	6,318,000
Goodwill	32,466,000
Liabilities [Abstract]
Contingent consideration	$ 2,000,000	$ 2,591,000

Stock Based Compensation and 20

Stock Based Compensation and Restricted Stock Compensation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based and Restricted Stock Compensation Expense [Abstract]
Stock-based compensation expense included in operating expense			$ 2,977,000	$ 1,128,000
Directors and Employees [Member]
Share-based Arrangements Awards Granted [Abstract]
Stock options granted (in shares)	0	1,350,000	0	1,360,000
Stock Options [Member]
Share-based and Restricted Stock Compensation Expense [Abstract]
Stock-based compensation expense included in operating expense	$ 1,385,000	$ 904,000	$ 2,977,000	$ 1,128,000
Share-based Arrangements Awards Granted [Abstract]
Stock options granted (in shares)	125,000	1,695,000	1,440,000	1,815,000
Restricted Stock [Member]
Share-based and Restricted Stock Compensation Expense [Abstract]
Stock-based compensation expense included in operating expense	$ 987,000	$ 1,036,000	$ 2,879,000	$ 1,068,000
Research and Development [Member] | Stock Options [Member]
Share-based and Restricted Stock Compensation Expense [Abstract]
Stock-based compensation expense included in operating expense	314,000	86,000	664,000	104,000
Research and Development [Member] | Restricted Stock [Member]
Share-based and Restricted Stock Compensation Expense [Abstract]
Stock-based compensation expense included in operating expense	62,000	75,000	200,000	91,000
Selling, General and Administrative [Member] | Stock Options [Member]
Share-based and Restricted Stock Compensation Expense [Abstract]
Stock-based compensation expense included in operating expense	1,071,000	818,000	2,313,000	1,024,000
Selling, General and Administrative [Member] | Restricted Stock [Member]
Share-based and Restricted Stock Compensation Expense [Abstract]
Stock-based compensation expense included in operating expense	$ 925,000	$ 961,000	$ 2,679,000	$ 977,000

Subsequent Events (Details)

Subsequent Events (Details)	Aug. 03, 2016LicensingAgreement	Aug. 15, 2016LicensingAgreement$ / sharesshares	Jun. 30, 2016$ / shares	Dec. 31, 2015$ / shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share) | $ / shares			$ 0.01	$ 0.01
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares lapse on first anniversary (in shares)		250,000
Number of shares lapse on second anniversary (in shares)		500,000
Subsequent Event [Member] | EBRP and EBMRF [Member]
Subsequent Event [Line Items]
Number of licensing agreements related to EBRP and EBMRF | LicensingAgreement		2
Unregistered shares issued (in shares)		750,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.01
Subsequent Event [Member] | EBRP [Member]
Subsequent Event [Line Items]
Unregistered shares issued (in shares)		375,000
Subsequent Event [Member] | EBMRF [Member]
Subsequent Event [Line Items]
Unregistered shares issued (in shares)		375,000
Subsequent Event [Member] | Stanford [Member]
Subsequent Event [Line Items]
Number of licensing agreements related to EBRP and EBMRF | LicensingAgreement	2