Abeona Therapeutics (ABEO) 10-K 16 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Mar. 15, 2018	Jun. 30, 2017
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
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 Public Float			$ 162,488,000
Trading Symbol	ABEO
Entity Common Stock, Shares Outstanding		47,226,940

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 137,750,000	$ 69,142,000
Receivables	107,000	124,000
Prepaid expenses and other current assets	2,735,000	155,000
Total current assets	140,592,000	69,421,000
Property and equipment, net	1,374,000	721,000
Licensed technology, net	3,977,000	8,384,000
Goodwill	32,466,000	32,466,000
Other assets and restricted cash	357,000	66,000
Total assets	178,766,000	111,058,000
Current liabilities
Accounts payable	2,393,000	3,694,000
Payable due Plasma Technologies, LLC	0	4,000,000
Current portion of deferred revenue	3,214,000	602,000
Total current liabilities	5,607,000	8,296,000
Deferred revenue, net of current portion	3,061,000	3,664,000
Total liabilities	8,668,000	11,960,000
Commitments and contingencies
Stockholders' equity
Common stock - $.01 par value; authorized 200,000,000 shares;issued and outstanding 46,888,108 at December 31, 2017;issued and outstanding 40,254,457 at December 31, 2016	469,000	403,000
Additional paid-in capital	529,421,000	431,168,000
Accumulated deficit	(359,792,000)	(332,473,000)
Total stockholders' equity	170,098,000	99,098,000
Total liabilities and stockholders' equity	$ 178,766,000	$ 111,058,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	46,888,108	40,254,457
Common Stock, Shares, Outstanding	46,888,108	40,254,457

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Revenues
License revenues	$ 602,000	$ 602,000
Royalties	235,000	287,000
Total revenues	837,000	889,000
Expenses
Research and development	16,989,000	10,655,000
General and administrative	10,943,000	13,290,000
Depreciation and amortization	741,000	825,000
Total expenses	28,673,000	24,770,000
Loss from operations	(27,836,000)	(23,881,000)
Interest and miscellaneous income	525,000	2,014,000
Interest and other expense	(8,000)	(6,000)
Total non operating income (expense)	517,000	2,008,000
Net loss	$ (27,319,000)	$ (21,873,000)
Basic and diluted loss per common share (in dollars per share)	$ (0.66)	$ (0.64)
Weighted average number of common shares outstanding - basic and diluted (in shares)	41,636,752	34,180,253

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Warrants Exercise One [Member]	Warrants Exercise Two [Member]	Common Stock Issuance One [Member]	Common Stock Issuance Two [Member]	Employees and Directors [Member]	Common Stock [Member]	Common Stock [Member]Warrants Exercise One [Member]	Common Stock [Member]Warrants Exercise Two [Member]	Common Stock [Member]Common Stock Issuance One [Member]	Common Stock [Member]Common Stock Issuance Two [Member]	Common Stock [Member]Employees and Directors [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Warrants Exercise One [Member]	Additional Paid-in Capital [Member]Warrants Exercise Two [Member]	Additional Paid-in Capital [Member]Common Stock Issuance One [Member]	Additional Paid-in Capital [Member]Common Stock Issuance Two [Member]	Additional Paid-in Capital [Member]Employees and Directors [Member]	Accumulated deficit [Member]	Accumulated deficit [Member]Warrants Exercise One [Member]	Accumulated deficit [Member]Warrants Exercise Two [Member]	Accumulated deficit [Member]Common Stock Issuance One [Member]	Accumulated deficit [Member]Common Stock Issuance Two [Member]	Accumulated deficit [Member]Employees and Directors [Member]
Balance at Dec. 31, 2015	$ 67,721,000						$ 328,000						$ 377,993,000						$ (310,600,000)
Balance (in shares) at Dec. 31, 2015							32,743,013
Restricted common stock issued	150,000					$ 3,432,000	$ 0					$ 1,000	150,000					$ 3,431,000	0					$ 0
Restricted common stock issued (in shares)							52,690					100,000
Exercise of $5.00 warrants		$ 0						$ 0						$ 0						$ 0
Exercise of $5.00 warrants (in shares)								5,836
Common stock issued for services	2,452,000						$ 8,000						2,444,000						0
Common stock issued for services (in shares)							750,000
Common stock issued for an average, net of costs				$ 969,000	$ 41,068,000					$ 2,000	$ 63,000					$ 967,000	$ 41,005,000					$ 0	$ 0
Common stock issued for an average, net of costs (in shares)										158,029	6,293,889
Common stock issued for cash exercise of options	350,000						$ 1,000						349,000						0
Common stock issued for cash exercise of options (in shares)							151,000
Stock option compensation expense	4,829,000						$ 0						4,829,000						0
Net loss	(21,873,000)						0						0						(21,873,000)
Balance at Dec. 31, 2016	99,098,000						$ 403,000						431,168,000						(332,473,000)
Balance (in shares) at Dec. 31, 2016							40,254,457
Restricted common stock issued						$ 1,272,000						$ 0						$ 1,272,000						$ 0
Restricted common stock issued (in shares)												0
Exercise of $8.00 warrants		$ 5,000,000						$ 6,000						$ 4,994,000						$ 0
Exercise of $8.00 warrants (in shares)								625,000
Exercise of $5.00 warrants			$ 885,000						$ 2,000						$ 883,000						$ 0
Exercise of $5.00 warrants (in shares)									176,932
Common stock issued for an average, net of costs				$ 86,174,000						$ 58,000						$ 86,116,000						$ 0
Common stock issued for an average, net of costs (in shares)										5,750,000
Common stock issued for cash exercise of options	344,000						$ 0						344,000						0
Common stock issued for cash exercise of options (in shares)							81,719
Stock option compensation expense	4,644,000						$ 0						4,644,000						0
Net loss	(27,319,000)						0						0						(27,319,000)
Balance at Dec. 31, 2017	$ 170,098,000						$ 469,000						$ 529,421,000						$ (359,792,000)
Balance (in shares) at Dec. 31, 2017							46,888,108

CONSOLIDATED STATEMENTS OF STO6

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 5
New Issues Share Price Per Share		3.27
Employees and Directors [Member]
New Issues Share Price Per Share
Restricted Stock [Member]
Share Price		2.85
$7.00 Common Stock Issuance [Member]
Share Price		7
$6.44 Common Stock Issuance [Member]
Share Price		$ 6.44
$16.00 Common Stock Issuance [Member]
Share Price	16
Dollar Eight Warrant [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	8
Share Price
Dollar Five Warrant [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	5
Share Price

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (27,319,000)	$ (21,873,000)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	741,000	825,000
Stock option compensation expense	4,644,000	4,829,000
Restricted common stock issued to directors and employees	1,272,000	3,432,000
Net gain on write off of licensed technology	(127,000)	0
Change in operating assets and liabilities:
Receivables	17,000	(9,000)
Prepaid expenses and other current assets	(2,580,000)	160,000
Other assets and restricted cash	(291,000)	(4,000)
Accounts payable and accrued expenses	(1,301,000)	2,819,000
Contingent consideration milestone	0	(2,591,000)
Deferred revenue	2,009,000	(602,000)
Net cash used in operating activities	(22,935,000)	(13,014,000)
Cash flows from investing activities:
Capital expenditures	(860,000)	(519,000)
Net cash used in by investing activities	(860,000)	(519,000)
Cash flows from financing activities:
Proceeds from exercise of stock options	344,000	350,000
Proceeds from $2.85 restricted common stock issuance	0	150,000
Net cash provided by financing activities	92,403,000	42,537,000
Net increase in cash and cash equivalents	68,608,000	29,004,000
Cash and cash equivalents at beginning of year	69,142,000	40,138,000
Cash and cash equivalents at end of year	137,750,000	69,142,000
Supplemental cash flow information:
Cash paid for interest	8,000	6,000
Supplemental disclosure of noncash transactions
Write off of licensed asset and corresponding liability	4,000,000	0
Shares issued to EB Research Partnership and Epidermolysis	0	0
Bullosa Medical Research Foundation for licenses	0	2,452,000
Private Placement One [Member]
Cash flows from financing activities:
Proceeds From Issuance Of Common Stock	86,174,000	0
Private Placement Two [Member]
Cash flows from financing activities:
Proceeds From Issuance Of Common Stock	0	41,068,000
Private Placement Three [Member]
Cash flows from financing activities:
Proceeds From Issuance Of Common Stock	0	969,000
Dollar Eight Warrant [Member]
Cash flows from financing activities:
Proceeds from Warrant Exercises	5,000,000	0
Dollar Five Warrant [Member]
Cash flows from financing activities:
Proceeds from Warrant Exercises	$ 885,000	$ 0

CONSOLIDATED STATEMENTS OF CAS8

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 5	$ 8	$ 5
Dollar Eight Warrant [Member]
Share Price
Class of Warrant or Right, Exercise Price of Warrants or Rights	8
Dollar Five Warrant [Member]
Share Price
Class of Warrant or Right, Exercise Price of Warrants or Rights	5
$7.00 Common Stock Issuance [Member]
Share Price		7
$6.44 Common Stock Issuance [Member]
Share Price		6.44
$16.00 Common Stock Issuance [Member]
Share Price	$ 16
Restricted Common Stock [Member]
Share Price		$ 2.85

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Abeona Therapeutics Inc. (together with our subsidiaries, “we,” “our,” “Abeona” or the “Company”) is a Delaware corporation. We are a clinical-stage biopharmaceutical company developing cell and gene therapies for life-threatening rare genetic diseases. Our lead programs include EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB), ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and ABO-101 (AAV NAGLU), an AAV based gene therapy for Sanfilippo syndrome type B (MPS IIIB). We are also developing ABO-201 (AAV-CLN3) gene therapy for juvenile Batten disease (JNCL), ABO-202 (AAV-CLN1) for treatment of infantile Batten disease (INCL), EB-201 for epidermolysis bullosa (EB), ABO-301 (AAV-FANCC) for Fanconi anemia (FA) disorder and ABO-302 using a novel CRISPR/Cas9-based gene editing approach to gene therapy for rare blood diseases. In addition we are developing a proprietary vector platform, AIM™, for next generation product candidates. A summary of the significant accounting policies applied in the preparation of the accompanying consolidated financial statements follows: The consolidated financial statements include the financial statements of Abeona Therapeutics Inc. and our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates and assumptions. The Company operates in a single segment. We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At December 31, 2017 and 2016, we had no such investments. We maintain deposits primarily in two financial institutions, which may at times exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (FDIC). We have not experienced any losses related to amounts in excess of FDIC limits. Receivables are reported in the consolidated balance sheets at net realizable value. We continually evaluate the creditworthiness of our customers and their financial condition and generally do not require collateral. The allowance for doubtful accounts is based upon reviews of specific customer balances, historic losses, and general economic conditions. As of December 31, 2017 and 2016, no allowance was recorded as all accounts are considered collectible. Property and equipment are recorded at cost. Depreciation is provided using the straight-line method over estimated useful lives ranging from three to five years. Expenditures for major renewals and betterments that extend the useful lives are capitalized. Expenditures for normal maintenance and repairs are expensed as incurred. The cost of assets sold or abandoned and the related accumulated depreciation are eliminated from the accounts and any gains or losses are recognized in the accompanying consolidated statements of operations of the respective period. We maintain licensed technology on our consolidated balance sheet until either the licensed technology agreement underlying it is completed or the asset becomes impaired. When we determine that an asset has become impaired or we abandon a project, we write down the carrying value of the related intangible asset to its fair value and take an impairment charge in the period in which the impairment occurs. Licensed technology is amortized over the life of the patent or the agreement and periodically reviews for impairment. We test our intangible assets for impairment on an annual basis, or more frequently if indicators are present or changes in circumstance suggest that impairment may exist. Events that could result in an impairment, or trigger an interim impairment assessment, include the receipt of additional clinical or nonclinical data regarding our drug candidate or a potentially competitive drug candidate, changes in the clinical development program for a drug candidate or new information regarding potential sales for the drug. In connection with each annual impairment assessment and any interim impairment assessment, we compare the fair value of the asset as of the date of the assessment with the carrying value of the asset on our consolidated balance sheet. In 2017 and 2016, we did not impair any licensed technology. As of December 31, 2017, goodwill of $ 32.5 Intangibles — Goodwill and Other, The Company has primarily generated revenue through out-licensing arrangements including royalties on net-sales of products. The Company recognizes licensed revenue on up-front payments on out-licensed agreements over the licensed agreement term. The upfront-payments, made in 2008-2014, were recorded in deferred revenue on the balance sheet. The Company recognizes royalty revenue generated under out-licensing arrangements in the period of sale. The Company also has sponsored revenue from Sanfilippo Foundation Grants to support the research, clinical trials and manufacturing for the treatment of MPSIIIA and MPSIIIB. The foundations have agreed to $ 13,875,000 2.6 Research and development costs are expensed as incurred. Research and development expenses include, but are not limited to, payroll and personnel expense, lab supplies, preclinical, development cost, clinical trial expense, outside manufacturing and consulting. The cost of materials and equipment or facilities that are acquired for research and development activities and that have alternative future uses are capitalized when acquired. General and administrative expenses primarily consist of personnel, contract personnel, personnel expenses to support our administrative and operating activities, facility costs and professional expenses (i.e., legal expenses), and investor relations fees. In 2017 and 2016, we recognized miscellaneous income of $ 525,000 2,014,000 In some of our license agreements we are responsible as agent for arranging the manufacture of MuGard (mucoadhesive oral wound rinse) and have entered into supply agreements with our license partners. Terms vary with each agreement but generally we arrange for the manufacturing of MuGard with a third-party and receive a fee to cover our administration, handling and overhead costs. The income is recorded in other income. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets to the extent their realization is in doubt. We account for uncertain income tax positions in accordance with ASC 740, Income Taxes We have presented basic loss per share, computed on the basis of the weighted average number of common shares outstanding during the year, and diluted loss per share, computed on the basis of the weighted average number of common shares and all dilutive potential common shares outstanding during the year. Potential common shares result from stock options and warrants. Common equivalent shares have not been included in the net loss per share calculations for years ended December 31, 2017 or 2016 because the effect of including them would have been anti-dilutive. For the year ended 2017 2016 Warrants 2,934,685 3,736,617 Stock options 5,429,727 4,771,560 Total 8,364,412 8,508,177 We account for stock based compensation expense in accordance with ASC 718, Stock Based Compensation Year ended Year ended Research and development $ 1,668 $ 1,219 General and administrative 2,976 3,610 Stock based compensation expense included in operating expense 4,644 4,829 Total stock based compensation expense 4,644 4,829 Tax benefit - - Stock based compensation expense, net of tax $ 4,644 $ 4,829 Year ended Year ended Research and development $ - $ 200 General and administrative 1,272 3,232 Stock based compensation expense included in operating expense 1,272 3,432 Total stock based compensation expense 1,272 3,432 Tax benefit - - Stock based compensation expense, net of tax $ 1,272 $ 3,432 In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 2 – PROPERTY AND EQUIPMENT December 31, 2017 2016 Equipment laboratory $ 627,000 $ 473,000 Furniture and office equipment 449,000 309,000 Leasehold improvement 229,000 118,000 Construction WIP 455,000 - 1,760,000 900,000 Less accumulated depreciation and amortization 386,000 179,000 Property and equipment, net $ 1,374,000 $ 721,000 Depreciation and amortization on property and equipment was $ 207,000 148,000

LICENSED TECHNOLOGY

LICENSED TECHNOLOGY	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
LICENSED TECHNOLOGY	NOTE 3 – LICENSED TECHNOLOGY On May 15, 2015, we acquired Abeona Therapeutics LLC which had a an exclusive license through Nationwide Children’s Hospital to the AB-101 and AB-102 patent portfolios for developing treatments for patients with Sanfilippo Syndrome Type A and Type B. The license is amortized over the life of the license of 20 On August 3, 2016, we announced we entered into an agreement (the “EB Agreement”) with EB Research Partnership (“EBRP”) and Epidermolysis Bullosa Medical Research Foundation (“EBMRF”) to collaborate on gene therapy treatments for EB. The EB Agreement became effective August 3, 2016, on the execution of two licensing agreements with The Board of Trustees of Leland Stanford Junior University (“Stanford”) described below. We also entered into a license with Stanford for the AAV-based gene therapy EB-201 (AAV DJ COL7A1) technology, and we shall perform preclinical development and perform clinical trials of a gene therapy treatment for EB based upon such in-licensed technology. EB-201 (AAV DJ COL7A1) is a pre-clinical candidate targeting a novel, AAV-mediated gene editing and delivery approach (known as homologous recombination) to correct gene mutations in skin cells (keratinocytes) for patients with recessive dystrophic epidermolysis bullosa (RDEB). The licenses are amortized over the life of the license of 20 years. On September 22, 2014, we entered into an exclusive, worldwide, licensing agreement with Plasma Technologies LLC (“Plasmatech”) to obtain rights to utilize and to sub-license to other pharmaceuticals firms, its patented methods for the extraction of therapeutic biologics from human plasma. The license was to be amortized over the life of the patent of 11 1 4,000,000 1,096,151 On May 26, 2017, we entered into agreements with Plasmatech and Acestor Therapeutics LLC (“Acestor”). Abeona would hold an 80 20 5,000,000 4,000,000 127,000 December 31, 2017 2016 Licensed technology $ 4,608,000 $ 9,608,000 Less accumulated amortization 631,000 1,224,000 Licensed technology, net $ 3,977,000 $ 8,384,000 534,000 677,000 2018 $ 346 2019 346 2020 346 2021 346 2022 346 Thereafter 2,247 Total $ 3,977

401(k) PLAN

401(k) PLAN	12 Months Ended
	Dec. 31, 2017
Retirement Benefits [Abstract]
401(k) PLAN	NOTE 4 – 401(k) PLAN We have a tax-qualified employee savings and retirement plan (the 401(k) Plan) covering all our employees. Pursuant to the 401(k) Plan, employees may elect to reduce their current compensation by up to the statutorily prescribed annual limit ($ 18,000 50

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 5 – COMMITMENTS AND CONTINGENCIES Operating Leases At December 31, 2017, we had an operating lease for our Cleveland office and lab until December 31, 2025 totaling $ 2,107,000 1,331,000 2,793,000 12,000 2018 $ 629 2019 809 2020 814 2021 820 2022 825 Thereafter 1,015 Total $ 4,912 Rent expense for the years ended December 31, 2017 and 2016 was $ 742,000 548,000 At December 31, 2017, we had construction in-progress to build out manufacturing facilities at our Cleveland location. We had a remaining construction commitment of $ 231,000 Legal We are not currently subject to any material pending legal proceedings as of December 31, 2017.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 6 – 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, prepaids and other, accounts payable and payable to licensor approximate their carrying amounts due to the relatively short maturity of these instruments. U.S. GAAP defines 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. (in thousands) As of December 31, Total Gains Description 2017 Level 1 Level 2 Level 3 (Losses) Non-recurring Assets: Licensed technology (net) $ 3,977 $ - $ - $ 3,977 $ 127 Goodwill 32,466 - - 32,466 - Description As of Level 1 Level 2 Level 3 Total Gains Non-recurring Assets: Licensed technology (net) $ 8,384 $ - $ - $ 8,384 $ - Goodwill 32,466 32,466 - Recurring Liabilities: Contingent consideration $ - $ - $ - $ - $ 1,391

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 7 – STOCKHOLDERS’ EQUITY 2017 Financing On October 19, 2017, we closed an underwritten public offering of 5,750,000 16.00 92,000,000 During the third quarter of 2017 we received additional financing of $ 5.0 8.00 During the second half of 2017 we received additional financing of $ 0.9 5.00 2016 Financing On November 1, 2016, we closed an underwritten public offering of 6,000,000 7.00 293,889 7.00 44,057,000 Warrants There were warrants to purchase a total of 2,934,685 shares of common stock outstanding at December 31, 2017. All warrants were exercisable at December 31, 2017. Warrants Exercise Expiration Summary of Warrants Outstanding Price Date 2015 Financing 7/31/15 (a) 20,000 $ 6.05 07/31/20 2015 Financing 5/11/15 agent warrants (b) 50,000 11.00 5/11/20 2014 Financing 12/24/14 (c) 2,395,949 5.00 12/24/19 2014 Financing 12/24/14 agent warrants (c) 68,735 5.00 12/18/19 2012 Series B private placement (d) 400,001 25.00 10/24/18 Total 2,934,685 a) In connection with the offering on July 31, 2015, the placement agent received warrants to purchase 20,000 6.05 July 31, 2020 b) In connection with the offering on May 11, 2015, the placement agent received warrants to purchase 50,000 11.00 c) In connection with an offering on December 24, 2014, warrants to purchase 3,500,000 shares of common stock at $ 5.00 December 24, 2019 2,395,949 Also in connection with the offering on December 24, 2014, the underwriter received warrants to purchase 68,735 5.00 December 18, 2019 d) In connection with a private placement offering on October 25, 2012, warrants to purchase 400,001 25.00 October 24, 2018

STOCK OPTION PLANS

STOCK OPTION PLANS	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK OPTION PLANS	NOTE 8 – STOCK OPTION PLANS Our stock-based employee compensation plans are described below: 2015 Equity Incentive Plan We have a stock awards plan, as amended, (the 2015 Equity Incentive Plan), under which 10,000,000 For the 2015 Equity Incentive Plan, the fair value of options was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants in 2017: dividend yield of 0 111 1.81 5.0 11.35 The assumptions for fiscal 2016 are: dividend yield of 0 109 1.10 5.0 2.59 Weighted- average exercise Options price Outstanding options at January 1, 2016 1,994,000 $ 6.90 Granted, fair value of $2.59 per share 2,622,500 3.29 Exercised (151,000) 2.32 Expired/forfeited (22,500) 3.23 Outstanding options at December 31, 2016 4,443,000 4.94 Granted, fair value of $11.35 per share 1,077,000 14.31 Exercised (81,719) 4.22 Expired/forfeited (325,314) 5.52 Outstanding options at December 31, 2017 5,112,967 9.07 Exercisable at December 31, 2017 2,471,135 5.48 Options vested during the twelve months ended December 31, 2017 1,143,448 4.19 Non-vested options at December 31, 2016 3,115,313 4.24 Non-vested options at December 31, 2017 2,641,832 8.21 The intrinsic value related to the outstanding or exercisable options under this plan at December 31, 2017 was $ 45,988,000 25,614,000 3,806,000 417,000 The total intrinsic value of the options exercised during 2017 was $ 641,000 450,000 Number of Weighted average Number of Weighted-average options Remaining Exercise Options Remaining Exercise Range of exercise prices outstanding life in years Price exercisable life in years price $2.31 – 4.45 2,723,092 8.9 $ 3.64 1,137,177 8.9 $ 3.31 $7.34 1,497,875 8.0 $ 7.34 1,333,958 8.0 $ 7.34 $16.00 – 16.70 892,000 10.0 $ 16.06 - 10.0 - 5,112,967 2,471,135 At December 31, 2017 the total compensation cost related to non-vested options not recognized is $ 17,384,000 3.23 2005 Equity Incentive Plan Under the 2005 Equity Incentive Plan, as amended, shares of our authorized but unissued common stock were reserved for issuance to employees, consultants, or to non-employee members of the Board or to any member of the board of directors (or similar governing authority) of any affiliate of the Company. As of January 20, 2015 no additional shares were available for grant under the 2005 Equity Incentive Plan. A total of 317,760 Weighted- average exercise Options price Outstanding options at January 1, 2016 330,084 $ 13.49 Expired/forfeited (1,524) 36.93 Outstanding options at December 31, 2016 328,560 14.57 Expired/forfeited (11,800) 21.53 Outstanding options at December 31, 2017 316,760 14.31 Exercisable at December 31, 2017 316,760 14.31 The intrinsic value related to the outstanding or exercisable options under this plan at December 31, 2017 was $ 1,529,000 Number of Weighted average Number of Weighted-average options Remaining Exercise options Remaining Exercise Range of exercise prices outstanding life in years price exercisable life in years price $3.25 120,000 3.0 $ 3.25 120,000 3.0 $ 3.25 $11.50 - 18.50 189,000 7.0 $ 18.35 189,000 7.0 $ 18.35 $30.50 – 150.00 7,760 3.2 $ 86.79 7,760 3.2 $ 86.79 316,760 316,760

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9 – INCOME TAXES 2017 2016 Income taxes at U.S. statutory rate $ (9,289,000) $ (7,437,000) Current year reserve (25,175,000) 7,423,000 Expenses not deductible 46,000 14,000 Rate change 34,418,000 - Total tax expense $ - $ - Deferred taxes are provided for the temporary differences between the financial reporting bases and the tax bases of our assets and liabilities. December 31, 2017 2016 Deferred tax assets (liabilities): Net operating loss carryforwards $ 50,029,000 $ 73,864,000 General business credit carryforwards 3,227,000 2,557,000 State credits 3,089,000 3,089,000 Property, equipment and goodwill (28,000) (23,000) Stock options 5,122,000 6,450,000 Derivatives (57,000) (92,000) Deferred revenue 778,000 1,464,000 Intangible assets 379,000 228,000 Accrued interest 156,000 253,000 Other 143,000 231,000 Gross deferred tax assets 62,838,000 88,021,000 Valuation allowance (62,838,000) (88,021,000) Net deferred taxes $ - $ - At December 31, 2017, we had approximately $ 238,235,000 2,654,000 Net operating loss carryforwards General business credit 2018 $ 3,324,000 $ 112,000 2019 3,306,000 95,000 2020 5,125,000 226,000 2021 5,378,000 56,000 Thereafter 221,102,000 2,165,000 $ 238,235,000 $ 2,654,000 As a result of a merger on January 25, 1996, a change in control occurred for federal income tax purposes, which limits the utilization of pre-merger net operating loss carryforwards of approximately $ 3,100,000 530,000 Additionally, we acquired MacroChem Corporation on February 25, 2009. The corporation was a loss company at the time of the acquisition. Therefore, the net operating losses related to the acquisition may be subject to annual limitations as provided by Internal Revenue Code Sec. 382. On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act. The Act reduces the US federal corporate tax rate from 34 21 Deferred tax assets and liabilities: We recalculated the deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21%. However, we are still analyzing certain aspects of the Act and refining our calculations, which could potentially affect the recalculation of these balances. The provisional amount recorded related to the recalculation of deferred tax balances is $ 34,418,000

NATURE OF OPERATIONS AND SUMM18

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Abeona Therapeutics Inc. (together with our subsidiaries, “we,” “our,” “Abeona” or the “Company”) is a Delaware corporation. We are a clinical-stage biopharmaceutical company developing cell and gene therapies for life-threatening rare genetic diseases. Our lead programs include EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB), ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and ABO-101 (AAV NAGLU), an AAV based gene therapy for Sanfilippo syndrome type B (MPS IIIB). We are also developing ABO-201 (AAV-CLN3) gene therapy for juvenile Batten disease (JNCL), ABO-202 (AAV-CLN1) for treatment of infantile Batten disease (INCL), EB-201 for epidermolysis bullosa (EB), ABO-301 (AAV-FANCC) for Fanconi anemia (FA) disorder and ABO-302 using a novel CRISPR/Cas9-based gene editing approach to gene therapy for rare blood diseases. In addition we are developing a proprietary vector platform, AIM™, for next generation product candidates. A summary of the significant accounting policies applied in the preparation of the accompanying consolidated financial statements follows:
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the financial statements of Abeona Therapeutics Inc. and our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates and assumptions.
Segments	Segments The Company operates in a single segment.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At December 31, 2017 and 2016, we had no such investments. We maintain deposits primarily in two financial institutions, which may at times exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (FDIC). We have not experienced any losses related to amounts in excess of FDIC limits.
Receivables	Receivables Receivables are reported in the consolidated balance sheets at net realizable value. We continually evaluate the creditworthiness of our customers and their financial condition and generally do not require collateral. The allowance for doubtful accounts is based upon reviews of specific customer balances, historic losses, and general economic conditions. As of December 31, 2017 and 2016, no allowance was recorded as all accounts are considered collectible.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. Depreciation is provided using the straight-line method over estimated useful lives ranging from three to five years. Expenditures for major renewals and betterments that extend the useful lives are capitalized. Expenditures for normal maintenance and repairs are expensed as incurred. The cost of assets sold or abandoned and the related accumulated depreciation are eliminated from the accounts and any gains or losses are recognized in the accompanying consolidated statements of operations of the respective period.
Licensed Technology	Licensed Technology We maintain licensed technology on our consolidated balance sheet until either the licensed technology agreement underlying it is completed or the asset becomes impaired. When we determine that an asset has become impaired or we abandon a project, we write down the carrying value of the related intangible asset to its fair value and take an impairment charge in the period in which the impairment occurs. Licensed technology is amortized over the life of the patent or the agreement and periodically reviews for impairment. We test our intangible assets for impairment on an annual basis, or more frequently if indicators are present or changes in circumstance suggest that impairment may exist. Events that could result in an impairment, or trigger an interim impairment assessment, include the receipt of additional clinical or nonclinical data regarding our drug candidate or a potentially competitive drug candidate, changes in the clinical development program for a drug candidate or new information regarding potential sales for the drug. In connection with each annual impairment assessment and any interim impairment assessment, we compare the fair value of the asset as of the date of the assessment with the carrying value of the asset on our consolidated balance sheet. In 2017 and 2016, we did not impair any licensed technology.
Goodwill	Goodwill As of December 31, 2017, goodwill of $ 32.5 Intangibles — Goodwill and Other,
Revenue	Revenue The Company has primarily generated revenue through out-licensing arrangements including royalties on net-sales of products. The Company recognizes licensed revenue on up-front payments on out-licensed agreements over the licensed agreement term. The upfront-payments, made in 2008-2014, were recorded in deferred revenue on the balance sheet. The Company recognizes royalty revenue generated under out-licensing arrangements in the period of sale. The Company also has sponsored revenue from Sanfilippo Foundation Grants to support the research, clinical trials and manufacturing for the treatment of MPSIIIA and MPSIIIB. The foundations have agreed to $ 13,875,000 2.6
Research and Development Expenses	Research and Development Expenses Research and development costs are expensed as incurred. Research and development expenses include, but are not limited to, payroll and personnel expense, lab supplies, preclinical, development cost, clinical trial expense, outside manufacturing and consulting. The cost of materials and equipment or facilities that are acquired for research and development activities and that have alternative future uses are capitalized when acquired.
General and administrative expense	General and administrative expense General and administrative expenses primarily consist of personnel, contract personnel, personnel expenses to support our administrative and operating activities, facility costs and professional expenses (i.e., legal expenses), and investor relations fees.
Other Income	Other Income In 2017 and 2016, we recognized miscellaneous income of $ 525,000 2,014,000 In some of our license agreements we are responsible as agent for arranging the manufacture of MuGard (mucoadhesive oral wound rinse) and have entered into supply agreements with our license partners. Terms vary with each agreement but generally we arrange for the manufacturing of MuGard with a third-party and receive a fee to cover our administration, handling and overhead costs. The income is recorded in other income.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets to the extent their realization is in doubt. We account for uncertain income tax positions in accordance with ASC 740, Income Taxes
Loss Per Share	Loss Per Share We have presented basic loss per share, computed on the basis of the weighted average number of common shares outstanding during the year, and diluted loss per share, computed on the basis of the weighted average number of common shares and all dilutive potential common shares outstanding during the year. Potential common shares result from stock options and warrants. Common equivalent shares have not been included in the net loss per share calculations for years ended December 31, 2017 or 2016 because the effect of including them would have been anti-dilutive. For the year ended 2017 2016 Warrants 2,934,685 3,736,617 Stock options 5,429,727 4,771,560 Total 8,364,412 8,508,177
Stock Based Compensation	Stock Based Compensation We account for stock based compensation expense in accordance with ASC 718, Stock Based Compensation Year ended Year ended Research and development $ 1,668 $ 1,219 General and administrative 2,976 3,610 Stock based compensation expense included in operating expense 4,644 4,829 Total stock based compensation expense 4,644 4,829 Tax benefit - - Stock based compensation expense, net of tax $ 4,644 $ 4,829 Year ended Year ended Research and development $ - $ 200 General and administrative 1,272 3,232 Stock based compensation expense included in operating expense 1,272 3,432 Total stock based compensation expense 1,272 3,432 Tax benefit - - Stock based compensation expense, net of tax $ 1,272 $ 3,432
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842)

NATURE OF OPERATIONS AND SUMM19

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Antidilutive securities excluded from computation of earnings per share	We did not include the following securities in the table below in the computation of diluted net loss per common share because the securities were anti-dilutive during the periods presented: For the year ended 2017 2016 Warrants 2,934,685 3,736,617 Stock options 5,429,727 4,771,560 Total 8,364,412 8,508,177
Employee Stock Option [Member]
Stock-based compensation allocation	The following table summarizes stock based option compensation for the years ended December 31, 2017 and 2016 which was allocated as follows (in thousands): Year ended Year ended Research and development $ 1,668 $ 1,219 General and administrative 2,976 3,610 Stock based compensation expense included in operating expense 4,644 4,829 Total stock based compensation expense 4,644 4,829 Tax benefit - - Stock based compensation expense, net of tax $ 4,644 $ 4,829
Restricted Stock [Member]
Stock-based compensation allocation	The following table summarizes restricted stock compensation for the years ended December 31, 2017 and 2016 which was allocated as follows (in thousands): Year ended Year ended Research and development $ - $ 200 General and administrative 1,272 3,232 Stock based compensation expense included in operating expense 1,272 3,432 Total stock based compensation expense 1,272 3,432 Tax benefit - - Stock based compensation expense, net of tax $ 1,272 $ 3,432

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property and equipment	Property and equipment consists of the following: December 31, 2017 2016 Equipment laboratory $ 627,000 $ 473,000 Furniture and office equipment 449,000 309,000 Leasehold improvement 229,000 118,000 Construction WIP 455,000 - 1,760,000 900,000 Less accumulated depreciation and amortization 386,000 179,000 Property and equipment, net $ 1,374,000 $ 721,000

LICENSED TECHNOLOGY (Tables)

LICENSED TECHNOLOGY (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of licensed technology	December 31, 2017 2016 Licensed technology $ 4,608,000 $ 9,608,000 Less accumulated amortization 631,000 1,224,000 Licensed technology, net $ 3,977,000 $ 8,384,000
Amortization expense for intangible assets	Amortization on licensed technology was $ 534,000 677,000 2018 $ 346 2019 346 2020 346 2021 346 2022 346 Thereafter 2,247 Total $ 3,977

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum payments for operating leases	Future operating lease payments are (in thousands): 2018 $ 629 2019 809 2020 814 2021 820 2022 825 Thereafter 1,015 Total $ 4,912

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Financial assets and liabilities measured at fair value on recurring basis	Financial assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2017 and December 31, 2016 are summarized below: (in thousands) As of December 31, Total Gains Description 2017 Level 1 Level 2 Level 3 (Losses) Non-recurring Assets: Licensed technology (net) $ 3,977 $ - $ - $ 3,977 $ 127 Goodwill 32,466 - - 32,466 - Description As of Level 1 Level 2 Level 3 Total Gains Non-recurring Assets: Licensed technology (net) $ 8,384 $ - $ - $ 8,384 $ - Goodwill 32,466 32,466 - Recurring Liabilities: Contingent consideration $ - $ - $ - $ - $ 1,391

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Schedule of warrants outstanding at various exercise prices	The warrants had various exercise prices and terms as follows: Warrants Exercise Expiration Summary of Warrants Outstanding Price Date 2015 Financing 7/31/15 (a) 20,000 $ 6.05 07/31/20 2015 Financing 5/11/15 agent warrants (b) 50,000 11.00 5/11/20 2014 Financing 12/24/14 (c) 2,395,949 5.00 12/24/19 2014 Financing 12/24/14 agent warrants (c) 68,735 5.00 12/18/19 2012 Series B private placement (d) 400,001 25.00 10/24/18 Total 2,934,685 a) In connection with the offering on July 31, 2015, the placement agent received warrants to purchase 20,000 6.05 July 31, 2020 b) In connection with the offering on May 11, 2015, the placement agent received warrants to purchase 50,000 11.00 c) In connection with an offering on December 24, 2014, warrants to purchase 3,500,000 shares of common stock at $ 5.00 December 24, 2019 2,395,949 Also in connection with the offering on December 24, 2014, the underwriter received warrants to purchase 68,735 5.00 December 18, 2019 d) In connection with a private placement offering on October 25, 2012, warrants to purchase 400,001 25.00 October 24, 2018

STOCK OPTION PLANS (Tables)

STOCK OPTION PLANS (Tables)	12 Months Ended
	Dec. 31, 2017
Equity Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summarized information of stock options	Summarized information for the 2015 Equity Incentive Plan is as follows: Weighted- average exercise Options price Outstanding options at January 1, 2016 1,994,000 $ 6.90 Granted, fair value of $2.59 per share 2,622,500 3.29 Exercised (151,000) 2.32 Expired/forfeited (22,500) 3.23 Outstanding options at December 31, 2016 4,443,000 4.94 Granted, fair value of $11.35 per share 1,077,000 14.31 Exercised (81,719) 4.22 Expired/forfeited (325,314) 5.52 Outstanding options at December 31, 2017 5,112,967 9.07 Exercisable at December 31, 2017 2,471,135 5.48 Options vested during the twelve months ended December 31, 2017 1,143,448 4.19 Non-vested options at December 31, 2016 3,115,313 4.24 Non-vested options at December 31, 2017 2,641,832 8.21
Information regarding options outstanding by range of exercise prices	Further information regarding options outstanding under the 2015 Equity Incentive Plan at December 31, 2015 is summarized below: Number of Weighted average Number of Weighted-average options Remaining Exercise Options Remaining Exercise Range of exercise prices outstanding life in years Price exercisable life in years price $2.31 – 4.45 2,723,092 8.9 $ 3.64 1,137,177 8.9 $ 3.31 $7.34 1,497,875 8.0 $ 7.34 1,333,958 8.0 $ 7.34 $16.00 – 16.70 892,000 10.0 $ 16.06 - 10.0 - 5,112,967 2,471,135
Equity Incentive Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summarized information of stock options	Summarized information for the 2005 Equity Incentive Plan is as follows: Weighted- average exercise Options price Outstanding options at January 1, 2016 330,084 $ 13.49 Expired/forfeited (1,524) 36.93 Outstanding options at December 31, 2016 328,560 14.57 Expired/forfeited (11,800) 21.53 Outstanding options at December 31, 2017 316,760 14.31 Exercisable at December 31, 2017 316,760 14.31
Information regarding options outstanding by range of exercise prices	Further information regarding options outstanding under the 2005 Equity Incentive Plan at December 31, 2017 is summarized below: Number of Weighted average Number of Weighted-average options Remaining Exercise options Remaining Exercise Range of exercise prices outstanding life in years price exercisable life in years price $3.25 120,000 3.0 $ 3.25 120,000 3.0 $ 3.25 $11.50 - 18.50 189,000 7.0 $ 18.35 189,000 7.0 $ 18.35 $30.50 – 150.00 7,760 3.2 $ 86.79 7,760 3.2 $ 86.79 316,760 316,760

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax expense differs from statutory amounts	2017 2016 Income taxes at U.S. statutory rate $ (9,289,000) $ (7,437,000) Current year reserve (25,175,000) 7,423,000 Expenses not deductible 46,000 14,000 Rate change 34,418,000 - Total tax expense $ - $ -
Temporary differences that give rise to deferred tax assets (liabilities)	December 31, 2017 2016 Deferred tax assets (liabilities): Net operating loss carryforwards $ 50,029,000 $ 73,864,000 General business credit carryforwards 3,227,000 2,557,000 State credits 3,089,000 3,089,000 Property, equipment and goodwill (28,000) (23,000) Stock options 5,122,000 6,450,000 Derivatives (57,000) (92,000) Deferred revenue 778,000 1,464,000 Intangible assets 379,000 228,000 Accrued interest 156,000 253,000 Other 143,000 231,000 Gross deferred tax assets 62,838,000 88,021,000 Valuation allowance (62,838,000) (88,021,000) Net deferred taxes $ - $ -
Net operating loss carryforwards and general business credits expiration dates	These carryforwards expire as follows: Net operating loss carryforwards General business credit 2018 $ 3,324,000 $ 112,000 2019 3,306,000 95,000 2020 5,125,000 226,000 2021 5,378,000 56,000 Thereafter 221,102,000 2,165,000 $ 238,235,000 $ 2,654,000

NATURE OF OPERATIONS AND SUMM27

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,364,412	8,508,177
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,429,727	4,771,560
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,934,685	3,736,617

NATURE OF OPERATIONS AND SUMM28

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Total stock based compensation expense	$ 4,644,000	$ 4,829,000
Employee Stock Option [Member]
Total stock based compensation expense	4,644,000	4,829,000
Tax benefit	0	0
Stock based compensation expense, net of tax	4,644,000	4,829,000
Restricted Stock [Member]
Total stock based compensation expense	1,272,000	3,432,000
Tax benefit	0	0
Stock based compensation expense, net of tax	1,272,000	3,432,000
Research and development [Member] | Employee Stock Option [Member]
Total stock based compensation expense	1,668,000	1,219,000
Research and development [Member] | Restricted Stock [Member]
Total stock based compensation expense	0	200,000
General and administrative [Member] | Employee Stock Option [Member]
Total stock based compensation expense	2,976,000	3,610,000
General and administrative [Member] | Restricted Stock [Member]
Total stock based compensation expense	1,272,000	3,232,000
Operating Expense [Member] | Employee Stock Option [Member]
Total stock based compensation expense	4,644,000	4,829,000
Operating Expense [Member] | Restricted Stock [Member]
Total stock based compensation expense	$ 1,272,000	$ 3,432,000

NATURE OF OPERATIONS AND SUMM29

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Grants Receivable	$ 13,875,000
Revenue from Grants	2,600,000
Other Nonoperating Income	$ 525,000	$ 2,014,000
Number of years subject to statute of limitations by major tax jurisdiction	3 years
Goodwill	$ 32,466,000	$ 32,466,000
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	5 years

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment, Gross	$ 1,760,000	$ 900,000
Construction WIP	455,000	0
Less accumulated depreciation and amortization	386,000	179,000
Property and equipment, net	1,374,000	721,000
Equipment laboratory [Member]
Property, Plant and Equipment, Gross	627,000	473,000
Furniture and office equipment [Member]
Property, Plant and Equipment, Gross	449,000	309,000
Leasehold Improvement [Member]
Property, Plant and Equipment, Gross	$ 229,000	$ 118,000

PROPERTY AND EQUIPMENT (Detai31

PROPERTY AND EQUIPMENT (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Depreciation and amortization on property and equipment	$ 207,000	$ 148,000

LICENSED TECHNOLOGY (Details)

LICENSED TECHNOLOGY (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Licensed technology	$ 4,608,000	$ 9,608,000
Less accumulated amortization	631,000	1,224,000
Licensed technology, net	$ 3,977,000	$ 8,384,000

LICENSED TECHNOLOGY (Details 1)

LICENSED TECHNOLOGY (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
2,018	$ 346,000
2,019	346,000
2,020	346,000
2,021	346,000
2,022	346,000
Thereafter	2,247,000
Total	$ 3,977,000	$ 8,384,000

LICENSED TECHNOLOGY (Details Te

LICENSED TECHNOLOGY (Details Textual)	1 Months Ended		12 Months Ended
	May 26, 2017USD ($)	Jan. 23, 2015USD ($)	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)
Other Commitment			$ 231,000
Licensed technology			127,000
Amortization of Intangible Assets			$ 534,000	$ 677,000
Abeona Therapeutics LLC [Member]
Finite-Lived Intangible Asset, Useful Life			20 years
EB Agreement [Member]
Number Of License Agreements Research And Development Arrangements			2
Acestor Therapeutics LLC [Member]
Equity Method Investment, Ownership Percentage	80.00%
License Costs	$ 5,000,000
Plasma Technologies, LLC [Member]
License Costs		$ 1,000,000
Noncontrolling Interest, Ownership Percentage by Parent	20.00%
Other Commitment	$ 4,000,000
Finite-Lived Intangible Asset, Useful Life			11 years
Payable Due Licensor Non current			$ 4,000,000
Shares Issued For License Technology Payable | shares			1,096,151

401(k) PLAN (Details Textual)

401(k) PLAN (Details Textual)	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Maximum annual contribution per employee under 401(k) plan	$ 18,000	$ 18,000
Number of investment options | InvestmentOptions	50
Company contributions under 401 (k) Plan	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES36

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2017USD ($)
2,018	$ 629
2,019	809
2,020	814
2,021	820
2,022	825
Thereafter	1,015
Total	$ 4,912

COMMITMENTS AND CONTINGENCIES37

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 629,000
Lease Extension Period	5 years
Operating Leases, Rent Expense, Net	$ 742,000	$ 548,000
Other Commitment	231,000
New York Office [Member]
Operating Leases, Future Minimum Payments Due, Next Twelve Months	2,793,000
Dallas Office [Member]
Operating Leases, Future Minimum Payments Due, Next Twelve Months	12,000
Cleveland Office And Lab [Member]
Operating Leases, Rent Expense, Net	2,107,000
Leasehold Improvements [Member]
Operating Lease, Cost	$ 1,331,000

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Nonrecurring [Member]
Assets
Licensed technology (net)	$ 3,977	$ 8,384
Goodwill	32,466	32,466
Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets
Licensed technology (net)	0	0
Goodwill	0
Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets
Licensed technology (net)	0	0
Goodwill	0
Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets
Licensed technology (net)	3,977	8,384
Goodwill	32,466	32,466
Nonrecurring [Member] | Licensed technology [Member]
Assets
Licensed technology (net)	127	0
Nonrecurring [Member] | Goodwill [Member]
Assets
Goodwill	$ 0	0
Recurring Member
Liabilites
Contingent consideration		0
Recurring Member | Contingent Consideration [Member]
Liabilites
Contingent consideration		1,391
Recurring Member | Fair Value, Inputs, Level 1 [Member]
Liabilites
Contingent consideration		0
Recurring Member | Fair Value, Inputs, Level 2 [Member]
Liabilites
Contingent consideration		0
Recurring Member | Fair Value, Inputs, Level 3 [Member]
Liabilites
Contingent consideration		$ 0

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - $ / shares		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016
Class of Warrant or Right, Outstanding		2,934,685
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 5	$ 8	$ 5
2015 July Financing [Member]
Class of Warrant or Right, Outstanding	[1]	20,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	[1]	$ 6.05
Class Of Warrants Or Right Expiration Date	[2]	Jul. 31, 2020
2015 May Financing Agent Warrants [Member]
Class of Warrant or Right, Outstanding	[1]	50,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	[1]	$ 11
Class Of Warrants Or Right Expiration Date	[3]	May 11, 2020
2014 December Financing [Member]
Class of Warrant or Right, Outstanding	[4]	2,395,949
Class of Warrant or Right, Exercise Price of Warrants or Rights	[4]	$ 5
Class Of Warrants Or Right Expiration Date	[5]	Dec. 24, 2019
2014 December Financing Agent Warrants [Member]
Class of Warrant or Right, Outstanding	[4]	68,735
Class of Warrant or Right, Exercise Price of Warrants or Rights	[4]	$ 5
Class Of Warrants Or Right Expiration Date	[5]	Dec. 18, 2019
2012 Series B Private Placement [Member]
Class of Warrant or Right, Outstanding	[6]	400,001
Class of Warrant or Right, Exercise Price of Warrants or Rights	[6]	$ 25
Class Of Warrants Or Right Expiration Date	[7]	Oct. 24, 2018
[1]	In connection with the offering on July 31, 2015, the placement agent received warrants to purchase 20,000 share of common stock at $6.05 per share. The warrants are exercisable and expire on July 31, 2020.
[2]	In connection with the offering on July 31, 2015, the placement agent received warrants to purchase 20,000 share of common stock at $6.05 per share. The warrants are exercisable and expire on July 31, 2020.
[3]	In connection with the offering on May 11, 2015, the placement agent received warrants to purchase 50,000 share of common stock at $11.00 per share. The warrants are exercisable and expire on May 11, 2020.
[4]	In connection with an offering on December 24, 2014, warrants to purchase 3,500,000 shares of common stock at $5.00 per share were purchased and issued for $0.01 per warrant. All of the warrants are exercisable and expire on December 24, 2019. At December 31, 2017, 2,395,949 warrants are outstanding. Also in connection with the offering on December 24, 2014, the underwriter received warrants to purchase 68,735 shares of common stock at $5.00 per share. The warrants are exercisable and expire on December 18, 2019.
[5]	In connection with an offering on December 24, 2014, warrants to purchase 3,500,000 shares of common stock at $5.00 per share were purchased and issued for $0.01 per warrant. All of the warrants are exercisable and expire on December 24, 2019. At December 31, 2017, 2,395,949 warrants are outstanding. Also in connection with the offering on December 24, 2014, the underwriter received warrants to purchase 68,735 shares of common stock at $5.00 per share. The warrants are exercisable and expire on December 18, 2019.
[6]	In connection with a private placement offering on October 25, 2012, warrants to purchase 400,001 shares of common stock at $25.00 per share were issued. All of the warrants are exercisable and expire on October 24, 2018.
[7]	In connection with a private placement offering on October 25, 2012, warrants to purchase 400,001 shares of common stock at $25.00 per share were issued. All of the warrants are exercisable and expire on October 24, 2018.

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)		Nov. 01, 2016	Oct. 19, 2017	Nov. 23, 2016	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2017	Dec. 31, 2016
Stock Issued During Period, Shares, New Issues			5,750,000
Stock Issued During Period, Value, New Issues			$ 92,000,000
Shares Issued, Price Per Share			$ 16
Proceeds from Warrant Exercises					$ 900,000	$ 5,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 5	$ 8		$ 5
Class of Warrant or Right, Outstanding							2,934,685
Capital Units [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights							$ 6.05
Class of Warrant or Right, Outstanding							20,000
Class Of Warrants Or Right Expiration Date							Jul. 31, 2020
May Financing Agent Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	[1]						$ 11
Class of Warrant or Right, Outstanding	[1]						50,000
Class Of Warrants Or Right Expiration Date	[2]						May 11, 2020
December Financing [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	[3]						$ 5
Class of Warrant or Right, Outstanding	[3]						2,395,949
Class Of Warrants Or Right Expiration Date	[4]						Dec. 24, 2019
December Financing Agent Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	[3]						$ 5
Class of Warrant or Right, Outstanding	[3]						68,735
Class Of Warrants Or Right Expiration Date	[4]						Dec. 18, 2019
Series B Private Placement [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	[5]						$ 25
Class of Warrant or Right, Outstanding	[5]						400,001
Class Of Warrants Or Right Expiration Date	[6]						Oct. 24, 2018
Common Stock [Member]
Stock Issued During Period, Shares, New Issues		6,000,000		293,889
Share Price		$ 7		$ 7
Proceeds from Issuance or Sale of Equity				$ 44,057,000
[1]	In connection with the offering on July 31, 2015, the placement agent received warrants to purchase 20,000 share of common stock at $6.05 per share. The warrants are exercisable and expire on July 31, 2020.
[2]	In connection with the offering on May 11, 2015, the placement agent received warrants to purchase 50,000 share of common stock at $11.00 per share. The warrants are exercisable and expire on May 11, 2020.
[3]	In connection with an offering on December 24, 2014, warrants to purchase 3,500,000 shares of common stock at $5.00 per share were purchased and issued for $0.01 per warrant. All of the warrants are exercisable and expire on December 24, 2019. At December 31, 2017, 2,395,949 warrants are outstanding. Also in connection with the offering on December 24, 2014, the underwriter received warrants to purchase 68,735 shares of common stock at $5.00 per share. The warrants are exercisable and expire on December 18, 2019.
[4]	In connection with an offering on December 24, 2014, warrants to purchase 3,500,000 shares of common stock at $5.00 per share were purchased and issued for $0.01 per warrant. All of the warrants are exercisable and expire on December 24, 2019. At December 31, 2017, 2,395,949 warrants are outstanding. Also in connection with the offering on December 24, 2014, the underwriter received warrants to purchase 68,735 shares of common stock at $5.00 per share. The warrants are exercisable and expire on December 18, 2019.
[5]	In connection with a private placement offering on October 25, 2012, warrants to purchase 400,001 shares of common stock at $25.00 per share were issued. All of the warrants are exercisable and expire on October 24, 2018.
[6]	In connection with a private placement offering on October 25, 2012, warrants to purchase 400,001 shares of common stock at $25.00 per share were issued. All of the warrants are exercisable and expire on October 24, 2018.

STOCK OPTION PLANS (Details)

STOCK OPTION PLANS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
2015 Equity Incentive Plan [Member]
Options [Roll Forward]
Outstanding options, beginning balance (in shares)		1,994,000
Granted (in shares)	1,077,000	2,622,500
Exercised (in shares)	(81,719)	(151,000)
Expired/forfeited (in shares)	(325,314)	(22,500)
Outstanding options, ending balance (in shares)	5,112,967	4,443,000
Exercisable, ending balance (in shares)	2,471,135
Options vested, ending balance (in shares)	1,143,448
Non-vested options, ending balance (in shares)	2,641,832	3,115,313
Weighted-average exercise price [Roll Forward]
Outstanding options, beginning of period (in dollars per share)	$ 4.94	$ 6.90
Granted (in dollars per share)	14.31	3.29
Exercised (in dollars per share)	4.22	2.32
Expired/forfeited (in dollars per share)	5.52	3.23
Outstanding options, ending balance (in dollars per share)	9.07	4.94
Exercisable, end on period (in dollars per share)	5.48
Options vested, end on period (in dollars per share)	4.19
Non-vested option, send on period (in dollars per share)	$ 8.21	$ 4.24
2005 Equity Incentive Plan [Member]
Options [Roll Forward]
Outstanding options, beginning balance (in shares)		330,084
Expired/forfeited (in shares)	(11,800)	(1,524)
Outstanding options, ending balance (in shares)	316,760	328,560
Exercisable, ending balance (in shares)	316,760
Options vested, ending balance (in shares)	317,760
Weighted-average exercise price [Roll Forward]
Outstanding options, beginning of period (in dollars per share)	$ 14.57	$ 13.49
Expired/forfeited (in dollars per share)	21.53	36.93
Outstanding options, ending balance (in dollars per share)	14.31	$ 14.57
Exercisable, end on period (in dollars per share)	$ 14.31

STOCK OPTION PLANS (Details 1)

STOCK OPTION PLANS (Details 1)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
2015 Equity Incentive Plan [Member]
Number of options outstanding | shares	5,112,967
Number of Options exercisable | shares	2,471,135
2015 Equity Incentive Plan [Member] | $2.31 - 4.45 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 2.31
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 4.45
Number of options outstanding | shares	2,723,092
Weighted average Remaining life in years	8 years 10 months 24 days
Weighted average Exercise Price	$ 3.64
Number of Options exercisable | shares	1,137,177
Weighted-average Remaining life in years	8 years 10 months 24 days
Weighted-average Exercise price	$ 3.31
2015 Equity Incentive Plan [Member] | $7.34 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 7.34
Number of options outstanding | shares	1,497,875
Weighted average Remaining life in years	8 years
Weighted average Exercise Price	$ 7.34
Number of Options exercisable | shares	1,333,958
Weighted-average Remaining life in years	8 years
Weighted-average Exercise price	$ 7.34
2015 Equity Incentive Plan [Member] | $16.00 - 16.70 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	16
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 16.70
Number of options outstanding | shares	892,000
Weighted average Remaining life in years	10 years
Weighted average Exercise Price	$ 16.06
Number of Options exercisable | shares	0
Weighted-average Remaining life in years	10 years
Weighted-average Exercise price	$ 0
2005 Equity Incentive Plan [Member]
Number of options outstanding | shares	316,760
Number of Options exercisable | shares	316,760
2005 Equity Incentive Plan [Member] | $3.25 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 3.25
Number of options outstanding | shares	120,000
Weighted average Remaining life in years	3 years
Weighted average Exercise Price	$ 3.25
Number of Options exercisable | shares	120,000
Weighted-average Remaining life in years	3 years
Weighted-average Exercise price	$ 3.25
2005 Equity Incentive Plan [Member] | $11.50 - 18.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	11.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 18.50
Number of options outstanding | shares	189,000
Weighted average Remaining life in years	7 years
Weighted average Exercise Price	$ 18.35
Number of Options exercisable | shares	189,000
Weighted-average Remaining life in years	7 years
Weighted-average Exercise price	$ 18.35
2005 Equity Incentive Plan [Member] | $30.50 - 150.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	30.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 150
Number of options outstanding | shares	7,760
Weighted average Remaining life in years	3 years 2 months 12 days
Weighted average Exercise Price	$ 86.79
Number of Options exercisable | shares	7,760
Weighted-average Remaining life in years	3 years 2 months 12 days
Weighted-average Exercise price	$ 86.79

STOCK OPTION PLANS (Details Tex

STOCK OPTION PLANS (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	10,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	111.00%	109.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.81%	1.10%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 11.35	$ 2.59
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 17,384,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	45,988,000	$ 3,806,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	25,614,000	417,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 641,000	$ 450,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,143,448		1,994,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	2,471,135
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 3.23
2005 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 1,529,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 1,529,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	317,760		330,084
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	316,760

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income taxes at U.S. statutory rate	$ (9,289,000)	$ (7,437,000)
Current year reserve	(25,175,000)	7,423,000
Expenses not deductible	46,000	14,000
Rate change	34,418,000	0
Total tax expense	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets (liabilities):
Net operating loss carryforwards	$ 50,029,000	$ 73,864,000
General business credit carryforwards	3,227,000	2,557,000
State credits	3,089,000	3,089,000
Property, equipment and goodwill	(28,000)	(23,000)
Stock options	5,122,000	6,450,000
Derivatives	(57,000)	(92,000)
Deferred revenue	778,000	1,464,000
Intangible assets	379,000	228,000
Accrued interest	156,000	253,000
Other	143,000	231,000
Gross deferred tax assets	62,838,000	88,021,000
Valuation allowance	(62,838,000)	(88,021,000)
Net deferred taxes	$ 0	$ 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	Dec. 31, 2017USD ($)
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 238,235,000
Tax Credit Carryforward, Amount	2,654,000
General business credit carryforwards [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount	2,654,000
2018 [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	3,324,000
2018 [Member] | General business credit carryforwards [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount	112,000
2019 [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	3,306,000
2019 [Member] | General business credit carryforwards [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount	95,000
2020 [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	5,125,000
2020 [Member] | General business credit carryforwards [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount	226,000
2021 [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	5,378,000
2021 [Member] | General business credit carryforwards [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount	56,000
Thereafter [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	221,102,000
Thereafter [Member] | General business credit carryforwards [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount	$ 2,165,000

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		$ 238,235,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		34.00%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount		$ 34,418,000	$ 0
Tax Credit Carryforward, Amount		2,654,000
Scenario, Plan [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Pre Merger [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		3,100,000
Post Merger [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		$ 530,000