Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 13, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Marina Biotech, Inc. | |
Entity Central Index Key | 737,207 | |
Trading Symbol | mrna | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 26,451,237 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2015 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash | $ 726 | $ 1,824 |
Accounts receivable | 500 | |
Prepaid expenses and other current assets | $ 83 | 192 |
Total current assets | 809 | 2,516 |
Intangible assets | 6,700 | 6,700 |
Other Assets | 45 | |
Total assets | 7,554 | 9,216 |
Current liabilities: | ||
Accounts payable | 502 | 687 |
Accrued payroll and employee benefits | 271 | 183 |
Other accrued liabilities | 1,349 | 1,072 |
Total current liabilities | 2,122 | 1,942 |
Fair value liability for price adjustable warrants | $ 5,582 | 9,225 |
Fair value of stock to be issued to settle liabilities | 75 | |
Deferred tax liabilities | $ 2,345 | 2,345 |
Total liabilities | $ 10,049 | $ 13,587 |
Commitments and contingencies | ||
Stockholders' deficit: | ||
Series C convertible preferred stock, $.01 par value; 100,000 shares authorized, 1,200 and 1,110 shares issued and outstanding at December 31, 2014 and June 30, 2015, respectively (preference in liquidation of $5,550,000 at June 30, 2015) | ||
Common stock, $0.006 par value; 180,000,000 shares authorized, 25,523,216 and 26,451,237 shares issued and outstanding at December 31, 2014 and June 30, 2015, respectively | $ 159 | $ 153 |
Additional paid-in capital | 333,816 | 333,264 |
Accumulated deficit | (336,470) | (337,788) |
Total stockholders' deficit | (2,495) | (4,371) |
Total liabilities and stockholders' deficit | $ 7,554 | $ 9,216 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Common stock, par value (in dollars per share) | $ 0.006 | $ 0.006 |
Common stock, shares authorized | 180,000,000 | 180,000,000 |
Common stock, shares issued | 26,451,237 | 25,523,216 |
Common stock, shares outstanding | 26,451,237 | 25,523,216 |
Series C Convertible Preferred Stock ("Series C Stock") | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 100,000 | 100,000 |
Preferred stock, shares issued | 1,110 | 1,200 |
Preferred stock, shares outstanding | 1,110 | 1,200 |
Preferred Stock, Liquidation Preference, Value | $ 5,550 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenue: | ||||
License and milestone | $ 400 | $ 400 | ||
Operating expenses: | ||||
Research and development | 230 | $ 49 | 484 | $ 95 |
General and administrative | 1,192 | 622 | 2,253 | 1,139 |
Total operating expenses | 1,422 | 671 | 2,737 | 1,234 |
Loss from operations | $ (1,022) | $ (671) | $ (2,337) | (1,234) |
Other income (expense): | ||||
Interest and other expense | (1,007) | |||
Change in fair value liability for price adjustable warrants | $ 1,914 | $ 4,545 | $ 3,643 | (769) |
Change in fair value of stock reserved for issuance to settle liabilities | (2,455) | |||
Gain on foreign exchange | $ 2 | 2 | ||
Gain on debt extinguishment | 4 | |||
Gain on settled liabilities | $ 12 | $ 45 | $ 12 | 302 |
Total other income (expense), net | 1,926 | 4,592 | 3,655 | (3,923) |
Net income (loss) applicable to common stockholders | $ 904 | $ 3,921 | $ 1,318 | (5,157) |
Deemed dividend related to discount on beneficial conversion feature in Series C convertible preferred shares | (6,000) | |||
Net income (loss) applicable to common stockholders | $ 904 | $ 3,921 | $ 1,318 | $ (11,157) |
Net income (loss) per common share | ||||
Basic (in dollars per share) | $ 0.03 | $ 0.15 | $ (0.05) | $ (0.47) |
Diluted (in dollars per share) | $ (0.03) | $ 0.11 | $ (0.08) | $ (0.47) |
Shares used in computing net income (loss) per share | ||||
Basic (in shares) | 26,036 | 25,633 | 26,036 | 23,563 |
Diluted (in shares) | 30,293 | 34,801 | 30,293 | 23,563 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating activities: | ||
Net income (loss) | $ 1,318 | $ (5,157) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Non-cash (gain) on debt extinguishment | (4) | |
Non-cash interest expense | 1,007 | |
Non-cash license expense | $ 120 | |
Non-cash gain on settlement of liabilities | (12) | (302) |
Compensation related to stock options and warrants | $ 296 | 107 |
Gain on foreign exchange transactions | (2) | |
Changes in fair market value of liabilities | ||
Stock reserved for issuance to settle liabilities | 2,455 | |
Price adjustable warrants | $ (3,643) | 769 |
Cash changes in assets and liabilities | ||
Accounts receivable | 500 | 5 |
Prepaid expenses and other assets | 64 | 43 |
Accounts payable | (173) | (561) |
Accrued and other liabilities | 431 | (626) |
Net cash used in operating activities | $ (1,099) | (2,266) |
Financing activities: | ||
Proceeds from sales of Series C preferred shares and warrants, net | 5,929 | |
Cash payments of notes payable | (250) | |
Insurance financing | $ (5) | |
Proceeds from exercise of warrants for common stock | $ 1 | |
Net cash provided by financing activities | 1 | $ 5,674 |
Net increase (decrease) in cash | (1,098) | 3,408 |
Cash - Beginning of period | 1,824 | 909 |
Cash - End of period | $ 726 | 4,317 |
Supplemental disclosure of cash flow information and non-cash financing activities: | ||
Cash paid for interest | 83 | |
Reclassification of fair value liability for price adjustable warrants exercised | 1,862 | |
Issuance of common stock to settle liabilities | $ 195 | $ 3,474 |
Fair value of warrants issued to purchase common stock to settle liabilities | $ 65 | |
Debt conversion to common stock | $ 1,479 | |
Deemed dividend to Series C convertible preferred stockholders | $ 6,000 | |
Par value of common stock issued upon conversion of Series C convertible preferred stock | $ 4 |
Business, Liquidity and Summary
Business, Liquidity and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business, Liquidity and Summary of Significant Accounting Policies | Note 1 — Business, Liquidity and Summary of Significant Accounting Policies Business We are a biotechnology company focused on the discovery, development and commercialization of nucleic acid-based therapies to treat orphan diseases. Our pipeline includes CEQ508, a product in clinical development for the treatment of Familial Adenomatous Polyposis (“FAP”), for which we have received Orphan Drug Designation (“ODD”) from the U.S. Food and Drug Administration (“FDA”), and preclinical programs for the treatment of type 1 myotonic dystrophy (“DM1”) and Duchenne muscular dystrophy (“DMD”). Since 2010, we have strategically acquired/in-licensed and further developed nucleic acid chemistry and delivery-related technologies in order to establish a novel and differentiated drug discovery platform. This platform allows us to distinguish ourselves from others in the nucleic acid therapeutics area in that we are the only company capable of creating a wide variety of therapeutics targeting coding and non-coding RNA via multiple mechanisms of action such as RNA interference (“RNAi”), messenger RNA translational inhibition, exon skipping, microRNA (“miRNA”) replacement, miRNA inhibition, and steric blocking in order to modulate gene expression either up or down depending on the specific mechanism of action. Our goal is to dramatically improve the lives of the patients and families affected by orphan diseases through either our own efforts or those of our collaborators and licensees. Liquidity The accompanying condensed consolidated financial statements have been prepared on the basis that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. At June 30, 2015, we had an accumulated deficit of approximately $336.5 million, $110.4 million of which has been accumulated since we focused on RNA therapeutics in June 2008. To the extent that sufficient funding is available, we will continue to incur losses as we continue our research and development (“R&D”) activities. In addition, we have had and will continue to have negative cash flows from operations. We have funded our losses primarily through the sale of common and preferred stock and warrants, revenue provided from our license agreements and, to a lesser extent, equipment financing facilities and secured loans. In 2014, we funded operations with a combination of the issuance of preferred stock and license-related revenues. At June 30, 2015, we had negative working capital of $1.27 million and $0.73 million in cash. Our resumed operating activities consume the majority of our cash resources. We believe that our current cash resources will enable us to fund our intended operations through March 2016. Our ability to execute our operating plan beyond March 2016 depends on our ability to obtain additional funding. The volatility in our stock price, as well as market conditions in general, could make it difficult for us to raise capital on favorable terms, or at all. If we fail to obtain additional capital when required, we may have to modify, delay or abandon some or all of our planned activities, or terminate our operations. We are currently pursuing both non-dilutive means of obtaining additional capital, primarily from existing and potential future licenses and partnerships, and dilutive means of obtaining additional capital, primarily through the offering of our equity and debt securities. However, there can be no assurance that we will be successful in such endeavors. The accompanying condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis of Preparation and Summary of Significant Accounting Policies Basis of Preparation Use of Estimates Fair Value of Financial Instruments We follow authoritative guidance with respect to fair value reporting issued by the Financial Accounting Standards Board (“FASB”) for financial assets and liabilities, which defines fair value, provides guidance for measuring fair value and requires certain disclosures. The guidance does not apply to measurements related to share-based payments. The guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. Our cash is subject to fair value measurement and value is determined by Level 1 inputs. We measure the liability for committed stock issuances with a fixed share number using Level 1 inputs. We measure the liability for price adjustable warrants and certain features embedded in notes using the Black-Scholes option pricing model (“Black-Scholes Model”) under various probability weighted scenarios, using Level 3 inputs. The following tables summarize our liabilities measured at fair value on a recurring basis as of December 31, 2014 and June 30, 2015: Level 1 Level 3 Balance at Quoted prices in Level 2 Significant December 31, active markets for Significant other unobservable (In thousands) 2014 identical assets observable inputs inputs Liabilities: Fair value liability for price adjustable warrants $ 9,225 $ - $ - $ 9,225 Fair value liability for shares to be issued 75 75 - - Total liabilities at fair value $ 9,300 $ 75 $ - $ 9,225 Level 1 Level 3 Quoted prices in Level 2 Significant Balance at active markets for Significant other unobservable (In thousands) June 30, 2015 identical assets observable inputs inputs Liabilities: Fair value liability for price adjustable warrants $ 5,582 $ - $ - $ 5,582 Total liabilities at fair value $ 5,582 $ - $ - $ 5,582 The following presents activity of the fair value liability of price adjustable warrants determined by Level 3 inputs for the six-month period ended June 30, 2015: Weighted average as of each measurement date Fair value liability for price Contractual adjustable warrants Exercise Stock life Risk free (in thousands) Price Price Volatility (in years) rate Balance at December 31, 2014 $ 9,225 $ 0.42 $ 0.95 121 % 3.51 0.90 % Change in fair value included in Statement of Operations (3,643 ) Balance at June 30, 2015 $ 5,582 $ 0.42 $ 0.59 102 % 2.09 0.70 % Net Income (Loss) per Common Share Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Stock options outstanding 284,505 1,316,106 284,505 1,316,106 Warrants 7,031,058 1,323,291 21,310,695 1,323,291 Convertible preferred stock - 8,000,000 8,000,000 8,000,000 Total 7,315,563 10,639,397 29,595,200 10,639,397 The following is a reconciliation of basic and diluted net income (loss) per share: Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Net income (loss) – numerator basic $ 3,921 $ 904 $ (11,157 ) $ 1,318 Change in fair value liability for price adjustable warrants - (1,914 ) - (3,643 ) Net loss excluding change in fair value liability for price adjustable warrants $ 3,921 $ (1,010 ) $ (11,157 ) $ (2,325 ) Weighted average common shares outstanding – denominator basic 25,633 26,036 23,563 26,036 Assumed conversion of Series C 102 - - - Effect of price adjustable warrants 9,066 4,257 - 4,257 Weighted average dilutive common shares outstanding 34,801 30,293 23,563 30,293 Net income (loss) per common share – basic $ 0.15 $ 0.03 $ (0.47 ) $ 0.05 Net income (loss) per common share – diluted $ 0.11 $ (0.03 ) $ (0.47 ) $ (0.08 ) |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2015 | |
Stockholders' Equity [Abstract] | |
Stockholders' Equity | Note 2 — Stockholders’ Deficit Preferred Stock In March 2014, we entered into a Securities Purchase Agreement with certain investors pursuant to which we sold 1,200 shares of Series C Preferred, and price adjustable warrants to purchase up to 6.0 million shares of our common stock at an exercise price of $0.75 per share, for an aggregate purchase price of $6.0 million. Each share of Series C Preferred has a stated value of $5,000 per share and is convertible into shares of common stock at a conversion price of $0.75 per share. The Series C Preferred is initially convertible into an aggregate of 8,000,000 shares of our common stock, subject to certain limitations and adjustments, has no stated dividend rate, is not redeemable and has voting rights on an as-converted basis. To account for the issuance of the Series C Preferred and warrants, we first assessed the terms of the warrants and determined that, due to certain anti-dilution provisions, they should be recorded as derivative liabilities. We determined the fair value of the warrants on the issuance date and recorded a liability of $6.5 million. Since the fair value of the warrants exceed the total proceeds received of $6.0 million, we recorded a loss of $0.5 million upon issuance, which is included in the change in fair value of price adjustable warrants in the consolidated statements of operations. The discount of $6.0 million on the Series C Preferred resulting from the allocation of the entire proceeds to the warrant was accreted as a dividend on the Series C Preferred through the earliest conversion date, which was immediately. The Series C Preferred dividend of $6.0 million was recorded to additional paid-in capital and as a deemed dividend on the Series C Preferred in determining net loss applicable to common stock holders in the consolidated statements of operations. We incurred $0.07 million of stock issuance costs in conjunction with the Series C Preferred, which were netted against the proceeds. Common Stock In January 2015, we issued 0.12 million shares with a value of $0.075 million to Novosom as the equity component owed under our December 2014 license agreement with MiNA Therapeutics. In May 2015, we issued 0.21 million shares with a value of $0.12 million to Novosom as the equity component owed as a result of an accelerated milestone payment under our December 2014 license agreement with MiNA Therapeutics. In June 2015, an investor converted 90 shares of Series C Preferred into 0.6 million shares of common stock. Warrants From January to June 2015, we issued warrants to purchase up to an aggregate of 0.102 million shares to a vendor providing scientific and development consulting services to our company. The fair value of these warrants at issuance was $0.065 million of which $0.05 million was accrued at December 31, 2014. The following table summarizes warrant activity during the six months ended June 30, 2015: Warrant Weighted Exercise Price Outstanding, December 31, 2014 21,212,813 $ 1.19 Exercised warrants (2,500 ) 0.28 Warrants issued to vendor 104,315 0.68 Outstanding, June 30, 2015 21,314,628 $ 1.19 Expiring in 2015 285,345 Expiring in 2016 6,000,000 Expiring in 2017 7,235,622 Expiring thereafter 7,793,661 |
Stock Incentive Plans
Stock Incentive Plans | 6 Months Ended |
Jun. 30, 2015 | |
Stock Incentive Plans [Abstract] | |
Stock Incentive Plans | Note 3 — Stock Incentive Plans Stock-based Compensation Three months ended June 30, Six months ended June 30, (In thousands) 2014 2015 2014 2015 Research and development $ 10 $ 5 $ 20 $ 31 General and administrative 10 112 20 265 Total $ 20 $ 117 $ 40 $ 296 Stock Options Options Outstanding Shares Weighted Average Exercise Price Outstanding, December 31, 2014 1,084,106 $ 5.52 Options Issued 232,000 $ 0.63 Outstanding, June 30, 2015 1,316,106 $ 4.66 Exercisable, June 30, 2015 293,856 $ 17.34 The following table summarizes additional information on our stock options outstanding at June 30, 2015: Options Outstanding Options Exercisable Weighted-Average Remaining Weighted Range of Exercise Number Contractual Life Weighted Average Number Average Prices Outstanding (Years) Exercise Price Exercisable Exercise Price $0.63 - $0.82 252,000 4.50 $ 0.65 126,000 $ 0.65 $0.83 - $1.07 1,019,000 8.00 1.07 124,000 1.07 $1.08 - $2.20 2,500 6.19 2.20 1,250 2.20 $2.21 - $50.00 10,500 2.95 47.60 10,500 47.60 $50.01 - $100.00 10,500 2.95 87.60 10,500 87.60 $100.01 - $200.00 16,000 2.95 141.35 16,000 141.35 $200.01 - $526.40 5,606 2.92 213.63 5,606 213.63 Totals 1,316,106 7.16 $ 4.66 293,856 $ 17.34 Weighted-Average Exercisable Remaining Contractual Life (Years) 4.16 In January 2015, we issued options to purchase of 0.15 million shares of our common stock to non-employee members of our board of directors at an exercise price of $0.635 per share as the annual grant to such directors for their service on our board of directors during 2015, and we issued options to purchase 0.08 million shares of our common stock to the members of our scientific advisory board at an exercise price of $0.63 per share as the annual grant to such persons for their service on our scientific advisory board during 2015. At June 30, 2015, we had $0.64 million of total unrecognized compensation expense related to unvested stock options. We expect to recognize this cost over a weighted average period of 2.0 years. At June 30, 2015, the intrinsic value of options outstanding or exercisable was zero as there were no options outstanding with an exercise price less than $0.48, the per share closing market price of our common stock at that date. No options were exercised during the six months ended June 30, 2015. |
Intellectual Property and Colla
Intellectual Property and Collaborative Agreements | 6 Months Ended |
Jun. 30, 2015 | |
Intellectual Property and Contractual Agreements [Abstract] | |
Intellectual Property and Collaborative Agreements | Note 4 — Intellectual Property and Collaborative Agreements Novosom |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Note 5 — Commitments and Contingencies Contingencies |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 6 — Subsequent Events On August 5, 2015, we entered into a Securities Purchase Agreement with certain investors pursuant to which we sold 220 shares of Series D Preferred, and price adjustable warrants to purchase up to 3.44 million shares of our common stock at an exercise price of $0.40 per share, for an aggregate purchase price of $1.1 million. Each share of Series D Preferred has a stated value of $5,000 per share and is convertible into shares of common stock at a conversion price of $0.40 per share. The Series D Preferred is initially convertible into an aggregate of 2,750,000 shares of our common stock, subject to certain limitations and adjustments, has a 5% stated dividend rate, is not redeemable and has voting rights on an as-converted basis. |
Business, Liquidity and Summa12
Business, Liquidity and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Preparation | Basis of Preparation |
Use of Estimates | Use of Estimates |
Fair Value of Financial Instruments | Fair Value of Financial Instruments We follow authoritative guidance with respect to fair value reporting issued by the Financial Accounting Standards Board (“FASB”) for financial assets and liabilities, which defines fair value, provides guidance for measuring fair value and requires certain disclosures. The guidance does not apply to measurements related to share-based payments. The guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. Our cash is subject to fair value measurement and value is determined by Level 1 inputs. We measure the liability for committed stock issuances with a fixed share number using Level 1 inputs. We measure the liability for price adjustable warrants and certain features embedded in notes using the Black-Scholes option pricing model (“Black-Scholes Model”) under various probability weighted scenarios, using Level 3 inputs. The following tables summarize our liabilities measured at fair value on a recurring basis as of December 31, 2014 and June 30, 2015: Level 1 Level 3 Balance at Quoted prices in Level 2 Significant December 31, active markets for Significant other unobservable (In thousands) 2014 identical assets observable inputs inputs Liabilities: Fair value liability for price adjustable warrants $ 9,225 $ - $ - $ 9,225 Fair value liability for shares to be issued 75 75 - - Total liabilities at fair value $ 9,300 $ 75 $ - $ 9,225 Level 1 Level 3 Quoted prices in Level 2 Significant Balance at active markets for Significant other unobservable (In thousands) June 30, 2015 identical assets observable inputs inputs Liabilities: Fair value liability for price adjustable warrants $ 5,582 $ - $ - $ 5,582 Total liabilities at fair value $ 5,582 $ - $ - $ 5,582 The following presents activity of the fair value liability of price adjustable warrants determined by Level 3 inputs for the six-month period ended June 30, 2015: Weighted average as of each measurement date Fair value liability for price Contractual adjustable warrants Exercise Stock life Risk free (in thousands) Price Price Volatility (in years) rate Balance at December 31, 2014 $ 9,225 $ 0.42 $ 0.95 121 % 3.51 0.90 % Change in fair value included in Statement of Operations (3,643 ) Balance at June 30, 2015 $ 5,582 $ 0.42 $ 0.59 102 % 2.09 0.70 % |
Net Income (Loss) per Common Share | Net Income (Loss) per Common Share Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Stock options outstanding 284,505 1,316,106 284,505 1,316,106 Warrants 7,031,058 1,323,291 21,310,695 1,323,291 Convertible preferred stock - 8,000,000 8,000,000 8,000,000 Total 7,315,563 10,639,397 29,595,200 10,639,397 The following is a reconciliation of basic and diluted net income (loss) per share: Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Net income (loss) – numerator basic $ 3,921 $ 904 $ (11,157 ) $ 1,318 Change in fair value liability for price adjustable warrants - (1,914 ) - (3,643 ) Net loss excluding change in fair value liability for price adjustable warrants $ 3,921 $ (1,010 ) $ (11,157 ) $ (2,325 ) Weighted average common shares outstanding – denominator basic 25,633 26,036 23,563 26,036 Assumed conversion of Series C 102 - - - Effect of price adjustable warrants 9,066 4,257 - 4,257 Weighted average dilutive common shares outstanding 34,801 30,293 23,563 30,293 Net income (loss) per common share – basic $ 0.15 $ 0.03 $ (0.47 ) $ 0.05 Net income (loss) per common share – diluted $ 0.11 $ (0.03 ) $ (0.47 ) $ (0.08 ) |
Business, Liquidity and Summa13
Business, Liquidity and Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of liabilities measured at fair value on a recurring basis | Level 1 Level 3 Balance at Quoted prices in Level 2 Significant December 31, active markets for Significant other unobservable (In thousands) 2014 identical assets observable inputs inputs Liabilities: Fair value liability for price adjustable warrants $ 9,225 $ - $ - $ 9,225 Fair value liability for shares to be issued 75 75 - - Total liabilities at fair value $ 9,300 $ 75 $ - $ 9,225 Level 1 Level 3 Quoted prices in Level 2 Significant Balance at active markets for Significant other unobservable (In thousands) June 30, 2015 identical assets observable inputs inputs Liabilities: Fair value liability for price adjustable warrants $ 5,582 $ - $ - $ 5,582 Total liabilities at fair value $ 5,582 $ - $ - $ 5,582 |
Schedule of fair value liability of price adjustable warrants determined by Level 3 | Weighted average as of each measurement date Fair value liability for price Contractual adjustable warrants Exercise Stock life Risk free (in thousands) Price Price Volatility (in years) rate Balance at December 31, 2014 $ 9,225 $ 0.42 $ 0.95 121 % 3.51 0.90 % Change in fair value included in Statement of Operations (3,643 ) Balance at June 30, 2015 $ 5,582 $ 0.42 $ 0.59 102 % 2.09 0.70 % |
Schedule of anti-dilutive securities | Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Stock options outstanding 284,505 1,316,106 284,505 1,316,106 Warrants 7,031,058 1,323,291 21,310,695 1,323,291 Convertible preferred stock - 8,000,000 8,000,000 8,000,000 Total 7,315,563 10,639,397 29,595,200 10,639,397 |
Schedule of reconciliation of basic and diluted net income (loss) | Three Months Ended June 30, Six Months Ended June 30, 2014 2015 2014 2015 Net income (loss) – numerator basic $ 3,921 $ 904 $ (11,157 ) $ 1,318 Change in fair value liability for price adjustable warrants - (1,914 ) - (3,643 ) Net loss excluding change in fair value liability for price adjustable warrants $ 3,921 $ (1,010 ) $ (11,157 ) $ (2,325 ) Weighted average common shares outstanding – denominator basic 25,633 26,036 23,563 26,036 Assumed conversion of Series C 102 - - - Effect of price adjustable warrants 9,066 4,257 - 4,257 Weighted average dilutive common shares outstanding 34,801 30,293 23,563 30,293 Net income (loss) per common share – basic $ 0.15 $ 0.03 $ (0.47 ) $ 0.05 Net income (loss) per common share – diluted $ 0.11 $ (0.03 ) $ (0.47 ) $ (0.08 ) |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Stockholders' Equity [Abstract] | |
Schedule of warrant activity | Warrant Weighted Exercise Price Outstanding, December 31, 2014 21,212,813 $ 1.19 Exercised warrants (2,500 ) 0.28 Warrants issued to vendor 104,315 0.68 Outstanding, June 30, 2015 21,314,628 $ 1.19 Expiring in 2015 285,345 Expiring in 2016 6,000,000 Expiring in 2017 7,235,622 Expiring thereafter 7,793,661 |
Stock Incentive Plans (Tables)
Stock Incentive Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Stock Incentive Plans [Abstract] | |
Schedule of stock-based compensation expense | Three months ended June 30, Six months ended June 30, (In thousands) 2014 2015 2014 2015 Research and development $ 10 $ 5 $ 20 $ 31 General and administrative 10 112 20 265 Total $ 20 $ 117 $ 40 $ 296 |
Schedule of stock option activity | Options Outstanding Shares Weighted Average Exercise Price Outstanding, December 31, 2014 1,084,106 $ 5.52 Options Issued 232,000 $ 0.63 Outstanding, June 30, 2015 1,316,106 $ 4.66 Exercisable, June 30, 2015 293,856 $ 17.34 |
Schedule of summary of additional information on stock options outstanding | Options Outstanding Options Exercisable Weighted-Average Remaining Weighted Range of Exercise Number Contractual Life Weighted Average Number Average Prices Outstanding (Years) Exercise Price Exercisable Exercise Price $0.63 - $0.82 252,000 4.50 $ 0.65 126,000 $ 0.65 $0.83 - $1.07 1,019,000 8.00 1.07 124,000 1.07 $1.08 - $2.20 2,500 6.19 2.20 1,250 2.20 $2.21 - $50.00 10,500 2.95 47.60 10,500 47.60 $50.01 - $100.00 10,500 2.95 87.60 10,500 87.60 $100.01 - $200.00 16,000 2.95 141.35 16,000 141.35 $200.01 - $526.40 5,606 2.92 213.63 5,606 213.63 Totals 1,316,106 7.16 $ 4.66 293,856 $ 17.34 Weighted-Average Exercisable Remaining Contractual Life (Years) 4.16 |
Business, Liquidity and Summa16
Business, Liquidity and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Liabilities: | ||
Fair value liability for price adjustable warrants | $ 5,582 | $ 9,225 |
Fair value liability for shares to be issued | 75 | |
Fair value on recurring basis | ||
Liabilities: | ||
Fair value liability for price adjustable warrants | $ 5,582 | 9,225 |
Fair value liability for shares to be issued | 75 | |
Total liabilities at fair value | $ 5,582 | $ 9,300 |
Fair value on recurring basis | Level 1 Quoted prices in active markets for identical assets | ||
Liabilities: | ||
Fair value liability for price adjustable warrants | ||
Fair value liability for shares to be issued | $ 75 | |
Total liabilities at fair value | $ 75 | |
Fair value on recurring basis | Level 2 Significant other observable inputs | ||
Liabilities: | ||
Fair value liability for price adjustable warrants | ||
Fair value liability for shares to be issued | ||
Total liabilities at fair value | ||
Fair value on recurring basis | Level 3 Significant unobservable inputs | ||
Liabilities: | ||
Fair value liability for price adjustable warrants | $ 5,582 | $ 9,225 |
Fair value liability for shares to be issued | ||
Total liabilities at fair value | $ 5,582 | $ 9,225 |
Business, Liquidity and Summa17
Business, Liquidity and Summary of Significant Accounting Policies (Details 1) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Fair value liability for price adjustable warrants | ||||
Balance at December 31, 2014 | $ 9,225 | |||
Change in fair value included in Statement of Operations | $ (1,914) | (3,643) | ||
Balance at June 30, 2015 | 5,582 | 5,582 | $ 9,225 | |
Fair Value Liability For Price Adjustable Warrants | Level 3 Significant unobservable inputs | ||||
Fair value liability for price adjustable warrants | ||||
Balance at December 31, 2014 | 9,225 | |||
Change in fair value included in Statement of Operations | (3,643) | |||
Balance at June 30, 2015 | $ 5,582 | $ 5,582 | $ 9,225 | |
Exercise Price | ||||
Balance at December 31, 2014 | $ 0.42 | |||
Balance at June 30, 2015 | $ 0.42 | 0.42 | $ 0.42 | |
Stock Price | ||||
Balance at December 31, 2014 | 0.95 | |||
Balance at June 30, 2015 | $ 0.59 | $ 0.59 | $ 0.95 | |
Volatility | ||||
Balance at December 31, 2014 | 121.00% | |||
Balance at June 30, 2015 | 102.00% | 102.00% | 121.00% | |
Contractual life (in years) | ||||
Contractual life (in years) | 2 years 1 month 2 days | 3 years 6 months 4 days | ||
Risk free rate | ||||
Balance at December 31, 2014 | 0.90% | |||
Balance at June 30, 2015 | 0.70% | 0.70% | 0.90% |
Business, Liquidity and Summa18
Business, Liquidity and Summary of Significant Accounting Policies (Details 2) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities | 10,639,397 | 7,315,563 | 10,639,397 | 29,595,200 |
Stock options outstanding | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities | 1,316,106 | 284,505 | 1,316,106 | 284,505 |
Warrants | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities | 1,323,291 | 7,031,058 | 1,323,291 | 21,310,695 |
Convertible preferred stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities | 8,000,000 | 8,000,000 | 8,000,000 |
Business, Liquidity and Summa19
Business, Liquidity and Summary of Significant Accounting Policies (Details 3) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Net income (loss) - numerator basic | $ 904 | $ 3,921 | $ 1,318 | $ (11,157) |
Change in fair value liability for price adjustable warrants | (1,914) | (3,643) | ||
Net loss excluding change in fair value liability for price adjustable warrants | $ (1,010) | $ 3,921 | $ (2,325) | $ (11,157) |
Weighted average common shares outstanding - denominator basic | 26,036 | 25,633 | 26,036 | 23,563 |
Assumed conversion of Series C | 102 | |||
Effect of price adjustable warrants | 4,257 | 9,066 | 4,257 | |
Weighted average dilutive common shares outstanding | 30,293 | 34,801 | 30,293 | 23,563 |
Net income (loss) per common share - basic (in dollars per share) | $ 0.03 | $ 0.15 | $ (0.05) | $ (0.47) |
Net income (loss) per common share - diluted (in dollars per share) | $ (0.03) | $ 0.11 | $ (0.08) | $ (0.47) |
Business, Liquidity and Summa20
Business, Liquidity and Summary of Significant Accounting Policies (Detail Textuals) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2008 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Accumulated deficit | $ (336,470) | $ (337,788) | $ 110,400 | ||
Working capital | 1,270 | ||||
Cash | $ 726 | $ 1,824 | $ 4,317 | $ 909 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - $ / shares | 6 Months Ended |
Jun. 30, 2015 | |
Warrant Shares | |
Outstanding, December 31, 2014 | 21,212,813 |
Number of warrants exercised | (2,500) |
Warrants issued to vendor | 104,315 |
Outstanding, March 31, 2015 | 21,314,628 |
Weighted average exercise price | |
Outstanding, December 31, 2014 | $ 1.19 |
Exercised warrants | 0.28 |
Warrants issued to vendor | 0.68 |
Outstanding, June 30, 2015 | $ 1.19 |
Expiring in 2015 | 285,345 |
Expiring in 2016 | 6,000,000 |
Expiring in 2017 | 7,235,622 |
Expiring thereafter | 7,793,661 |
Stockholders' Equity (Preferred
Stockholders' Equity (Preferred Stock) (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | ||
Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Class of Stock [Line Items] | ||||
Number of common stock called by warrants | 6,000,000 | |||
Proceeds from sales of Series C preferred shares and warrants, net | $ 6,000 | |||
Exercise price of warrants | $ 0.75 | $ 1.19 | $ 1.19 | |
Proceeds to warrant was accreted as a dividend | $ 1 | |||
Derivative Liability | 6,500 | |||
Amount of loss upon issuance | $ 500 | |||
Series A Junior Participating Preferred Stock ("Series A Preferred") | ||||
Class of Stock [Line Items] | ||||
Shares issued during period | 90,000 | |||
Series B Preferred Stock ("Series B Preferred") | ||||
Class of Stock [Line Items] | ||||
Shares issued during period | 1,000 | |||
Series C Convertible Preferred Stock ("Series C Stock") | ||||
Class of Stock [Line Items] | ||||
Preferred stock, shares authorized | 100,000 | 100,000 | ||
Shares issued during period | 1,200 | |||
Conversion price per dollar of stated value | $ 0.75 | |||
Proceeds from sales of Series C preferred shares and warrants, net | $ 6,000 | |||
Stated value per share of preferred stock | $ 5,000 | |||
Shares issued upon conversion | 8,000,000 | |||
Stock issuance costs | $ 70 | |||
Proceeds to warrant was accreted as a dividend | 6,000 | |||
Deemed dividend recorded to additional paid-in capital | $ 6,000 |
Stockholders' Equity (Common St
Stockholders' Equity (Common Stock) (Detail Textuals 1) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | May. 31, 2015 | Jan. 31, 2015 | Jun. 30, 2015 | |
Stockholders' Equity [Abstract] | ||||
Number of voting right | one vote | |||
Series C Preferred Stock | ||||
Stockholders Equity Note [Line Items] | ||||
Converted Common Stock | 90 | |||
Value of Converted Common Stock | $ 600 | |||
Novosom | December 2014 license agreement with MiNA therapeutics | ||||
Stockholders Equity Note [Line Items] | ||||
Number of common stock issued for settlement | 210,000 | 120,000 | ||
Amount pledged to issue common stock | $ 120 | $ 75 |
Stockholders' Equity (Warrants)
Stockholders' Equity (Warrants) (Detail Textuals 2) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jan. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Mar. 31, 2014 | |
Stockholders Equity Note [Line Items] | |||||
Number of warrants called by common stock | 6,000,000 | ||||
Number of warrants exercised | (2,500) | ||||
Exercise price of warrants | $ 1.19 | $ 1.19 | $ 0.75 | ||
Fair value of warrants issuance | $ (3,643) | $ 769 | |||
Warrants | |||||
Stockholders Equity Note [Line Items] | |||||
Number of warrants exercised | 2,500 | ||||
Exercise price of warrants | $ 0.28 | ||||
Warrants | Vendor | |||||
Stockholders Equity Note [Line Items] | |||||
Number of warrants called by common stock | 102,000 | ||||
Fair value of warrants issuance | $ 65 | $ 50 |
Stock Incentive Plans (Stock-Ba
Stock Incentive Plans (Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 117 | $ 20 | $ 296 | $ 40 |
Research and development | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 5 | 10 | 31 | 20 |
General and administrative | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 112 | $ 10 | $ 265 | $ 20 |
Stock Incentive Plans (Stock Op
Stock Incentive Plans (Stock Option Activity) (Detail 1) - $ / shares | 6 Months Ended |
Jun. 30, 2015 | |
Shares | |
Outstanding, December 31, 2014 | 1,084,106 |
Options Issued | 232,000 |
Outstanding, June 30, 2015 | 1,316,106 |
Exercisable, June 30, 2015 | 293,856 |
Weighted Average Exercise Price | |
Outstanding, December 31, 2014 | $ 5.52 |
Options Issued | 0.63 |
Outstanding, June 30, 2015 | 4.66 |
Exercisable, June 30, 2015 | $ 17.34 |
Stock Incentive Plans (Stock 27
Stock Incentive Plans (Stock options outstanding) (Details 2) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options Outstanding, Number Outstanding | 1,316,106 | 1,084,106 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | 7 years 1 month 28 days | |
Options Outstanding, Weighted Average Exercise Price | $ 4.66 | $ 5.52 |
Options Exercisable, Number Exercisable | 293,856 | |
Options Exercisable, Weighted Average Exercise Price | $ 17.34 | |
Options Outstanding, Weighted-Average Remaining Contractual Life, Exercisable (Years) | 4 years 1 month 28 days | |
Stock options | $0.63 - $0.82 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Lower range of price | $ 0.63 | |
Upper range of price | $ 0.82 | |
Options Outstanding, Number Outstanding | 252,000 | |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | 4 years 6 months | |
Options Outstanding, Weighted Average Exercise Price | $ 0.65 | |
Options Exercisable, Number Exercisable | 126,000 | |
Options Exercisable, Weighted Average Exercise Price | $ 0.65 | |
Stock options | $0.83 - $1.07 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Lower range of price | 0.83 | |
Upper range of price | $ 1.07 | |
Options Outstanding, Number Outstanding | 1,019,000 | |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | 8 years | |
Options Outstanding, Weighted Average Exercise Price | $ 1.07 | |
Options Exercisable, Number Exercisable | 124,000 | |
Options Exercisable, Weighted Average Exercise Price | $ 1.07 | |
Stock options | $1.08 - $2.20 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Lower range of price | 1.08 | |
Upper range of price | $ 2.20 | |
Options Outstanding, Number Outstanding | 2,500 | |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | 6 years 2 months 9 days | |
Options Outstanding, Weighted Average Exercise Price | $ 2.20 | |
Options Exercisable, Number Exercisable | 1,250 | |
Options Exercisable, Weighted Average Exercise Price | $ 2.20 | |
Stock options | $2.21 - $50.00 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Lower range of price | 2.21 | |
Upper range of price | $ 50 | |
Options Outstanding, Number Outstanding | 10,500 | |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | 2 years 11 months 12 days | |
Options Outstanding, Weighted Average Exercise Price | $ 47.60 | |
Options Exercisable, Number Exercisable | 10,500 | |
Options Exercisable, Weighted Average Exercise Price | $ 47.60 | |
Stock options | $50.01 - $100.00 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Lower range of price | 50.01 | |
Upper range of price | $ 100 | |
Options Outstanding, Number Outstanding | 10,500 | |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | 2 years 11 months 12 days | |
Options Outstanding, Weighted Average Exercise Price | $ 87.60 | |
Options Exercisable, Number Exercisable | 10,500 | |
Options Exercisable, Weighted Average Exercise Price | $ 87.60 | |
Stock options | $100.01 - $200.00 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Lower range of price | 100.01 | |
Upper range of price | $ 200 | |
Options Outstanding, Number Outstanding | 16,000 | |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | 2 years 11 months 12 days | |
Options Outstanding, Weighted Average Exercise Price | $ 141.35 | |
Options Exercisable, Number Exercisable | 16,000 | |
Options Exercisable, Weighted Average Exercise Price | $ 141.35 | |
Stock options | $200.01 - $526.40 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Lower range of price | 200.01 | |
Upper range of price | $ 526.40 | |
Options Outstanding, Number Outstanding | 5,606 | |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | 2 years 11 months 1 day | |
Options Outstanding, Weighted Average Exercise Price | $ 213.63 | |
Options Exercisable, Number Exercisable | 5,606 | |
Options Exercisable, Weighted Average Exercise Price | $ 213.63 |
Stock Incentive Plans (Detail T
Stock Incentive Plans (Detail Textuals) - $ / shares | 1 Months Ended | 6 Months Ended |
Jan. 31, 2015 | Jun. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares purchase | 232,000 | |
Options Issued | $ 0.63 | |
Board of directors | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares purchase | 150,000 | |
Options Issued | $ 0.635 | |
Board of directors | Subsequent event | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares purchase | 80,000 | |
Options Issued | $ 0.63 |
Stock Incentive Plans (Detail29
Stock Incentive Plans (Detail Textuals 1) - Jun. 30, 2015 - USD ($) | Total |
Stock Incentive Plans [Abstract] | |
Unrecognized compensation cost related to unvested stock options | $ 640,000 |
Unrecognized compensation cost related to unvested stock options, recognition period | 2 years |
Intrinsic value of options outstanding | $ 0 |
Intrinsic value of options exercisable | $ 0 |
Options outstanding exercise price | $ 0.48 |
Intellectual Property and Col30
Intellectual Property and Collaborative Agreements (Detail Textuals) - Novosom - USD ($) shares in Thousands, $ in Thousands | 1 Months Ended | |
May. 31, 2015 | Jan. 31, 2015 | |
December 2014 license agreement with MiNA therapeutics | ||
Intellectual Property And Collaborative Agreements [Line Items] | ||
Cash payable | $ 80 | |
Number of common stock issued for settlement | 210 | 120 |
Amount pledged to issue common stock | $ 120 | $ 75 |
December 2011 license agreement with MiNA therapeutics | ||
Intellectual Property And Collaborative Agreements [Line Items] | ||
Shares issued during period | 210 | |
Value of share issued during period | $ 120 |
Subsequent Events (Detail Textu
Subsequent Events (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands | Aug. 05, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Mar. 31, 2014 |
Subsequent Event [Line Items] | |||||
Number of common stock called by warrants | 6,000,000 | ||||
Exercise price of warrants | $ 1.19 | $ 1.19 | $ 0.75 | ||
Proceeds from exercise of warrants for common stock | $ 1 | ||||
Subsequent event | Securities Purchase Agreement | Series D Convertible Preferred Stock | |||||
Subsequent Event [Line Items] | |||||
Shares issued during period | 220 | ||||
Stated value per share of preferred stock | $ 5,000 | ||||
Shares issued upon conversion | 2,750,000 | ||||
Stated dividend rate | 5.00% | ||||
Subsequent event | Securities Purchase Agreement | Common stock | |||||
Subsequent Event [Line Items] | |||||
Number of common stock called by warrants | 3,440,000 | ||||
Exercise price of warrants | $ 0.40 | ||||
Proceeds from exercise of warrants for common stock | $ 1,100 | ||||
Common stock conversion price per share | $ 0.40 |