Imunon (IMNN) 10-Q 12 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 10, 2017
Document Information [Line Items]
Entity Registrant Name	Celsion Corp
Entity Central Index Key	749,647
Trading Symbol	clsn
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		56,982,418
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 4,469,576	$ 2,624,162
Investment securities – available for sale, at fair value		1,680,000
Accrued interest receivable on investment securities		4,008
Advances, deposits and other current assets	141,622	204,408
Subtotal current assets	4,611,198	4,512,578
Property and equipment (at cost, less accumulated depreciation and amortization of $2,626,722 and $2,513,022, respectively)	370,262	462,836
Other assets:
In-process research and development	22,766,491	22,766,491
Other intangible assets, net	966,095	1,022,924
Goodwill	1,976,101	1,976,101
Security deposit on letter of credit	100,000	100,000
Patent licensing fees and other assets, net	8,761	8,761
Subtotal other assets	25,817,448	25,874,277
Total assets	30,798,908	30,849,691
Current liabilities:
Accounts payable - trade	4,051,099	2,878,978
Other accrued liabilities	2,819,806	2,483,756
Notes payable - current portion	1,471,846	2,560,553
Deferred revenue – current portion	500,000	500,000
Subtotal current liabilities	8,842,751	8,423,287
Earn-out milestone liability	13,471,977	13,188,226
Deferred revenue – non-current portion	2,375,000	2,500,000
Other liabilities – non-current	3,088	12,352
Total liabilities	24,692,816	24,123,865
Commitments and contingencies
Stockholders’ equity:
Preferred Stock - $0.01 par value (100,000 shares authorized and no shares issued or outstanding at March 31, 2017 and December 31, 2016, respectively)
Common stock - $0.01 par value (112,500,000 shares authorized; 55,471,171 and 31,226,336 shares issued at March 31, 2017 and December 31, 2016, respectively and 55,466,492 and 31,221,657 shares outstanding at March 31, 2017 and December 31, 2016, respectively)	554,712	312,263
Additional paid-in capital	252,176,416	247,878,463
Accumulated deficit	(246,539,848)	(241,379,712)
Subtotal	6,191,280	6,811,014
Treasury stock, at cost (4,679 shares March 31, 2017 and December 31, 2016)	(85,188)	(85,188)
Total stockholders’ equity	6,106,092	6,725,826
Total liabilities and stockholders’ equity	$ 30,798,908	$ 30,849,691

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)
Preferred stock, share authorized (in shares)
Preferred stock, shares issued (in shares)
Preferred stock, shares outstanding (in shares)
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	112,500,000	112,500,000
Common stock, shares issued (in shares)	55,471,171	31,226,336
Common stock, shares outstanding (in shares)	55,466,492	31,221,657
Treasury stock, shares (in shares)	4,679	4,679
Property and equipment, accumulated depreciation	$ 2,626,722	$ 2,513,022

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Licensing revenue	$ 125,000	$ 125,000
Operating expenses:
Research and development	3,475,276	3,441,171
General and administrative	1,468,122	1,862,525
Total operating expenses	4,943,398	5,303,696
Loss from operations	(4,818,398)	(5,178,696)
Other (expense) income:
Loss from change in valuation of earn-out milestone liability	(283,751)	(302,656)
Investment income, net	1,991	9,341
Interest expense	(62,340)	(244,198)
Other income (expense)	2,362	(258)
Total other (expense) income, net	(341,738)	(537,771)
Net loss	$ (5,160,136)	$ (5,716,467)
Net loss per common share
Basic and diluted (in dollars per share)	$ (0.12)	$ (0.24)
Weighted average shares outstanding
Basic and diluted (in shares)	42,424,957	23,388,152

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Unrealized gain on investment securities		$ 3,858
Other comprehensive gain		3,858
Net loss	(5,160,136)	(5,716,467)
Comprehensive loss	$ (5,160,136)	$ (5,712,609)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (5,160,136)	$ (5,716,467)
Depreciation and amortization	170,529	121,875
Change in fair value of earn-out milestone liability	283,751	302,656
Deferred revenue	(125,000)	(125,000)
Stock-based compensation costs	117,466	615,014
Shares issued out of treasury		20,951
Amortization of deferred finance charges and debt discount associated with notes payable	17,685	85,192
Change in deferred rent liability	(9,264)	(8,813)
Loss realized on sale of investment securities		3,858
Accrued interest on short term investments	4,008	26,729
Advances, deposits and other current assets	62,786	(182,102)
Accounts payable	1,172,121	(65,286)
Accrued liabilities	336,050	177,272
Net cash (used in) operating activities:	(3,130,004)	(4,744,121)
Cash flows from investing activities:
Proceeds from sale and maturity of investment securities	1,680,000	10,799,890
Purchases of property and equipment	(21,126)	(21,878)
Net cash provided by investing activities	1,658,874	10,778,012
Cash flows from financing activities:
Proceeds from sale of common stock equity, net of issuance costs	4,284,373
Proceeds from exercise of common stock warrants	138,563
Principal payments on notes payable	(1,106,392)	(988,493)
Net cash provided by (used in) financing activities	3,316,544	(988,493)
Increase in cash and cash equivalents	1,845,414	5,045,398
Cash and cash equivalents at beginning of period	2,624,162	9,265,144
Cash and cash equivalents at end of period	4,469,576	14,310,542
Supplemental disclosures of cash flow information:
Interest paid	$ 44,655	$ 165,527

Note 1 - Business Description

Note 1 - Business Description	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	Note 1. Celsion Corporation, a Delaware corporation based in Lawrenceville, New Jersey, its wholly-owned subsidiaries CLSN Laboratories, Inc., also a Delaware corporation, and Celsion GmbH, a limited liability company in Zug Switzerland, referred to herein as “Celsion”, “we”, or “the Company”, as the context requires, is a fully-integrated development stage oncology drug company focused on developing a portfolio of innovative cancer treatments, including directed chemotherapies, DNA-mediated immunotherapy and RNA based therapies. Our lead product candidate is ThermoDox®, a proprietary dosage form of doxorubicin based on a heat-activated liposomal platform technology, currently in a Phase III clinical trial for the treatment of non-resectable hepatocellular carcinoma (“HCC”) also known as primary liver cancer, and a Phase II clinical trial for recurrent chest wall breast cancer. Our pipeline also includes GEN- 1, 1

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Basis of Accounting [Text Block]	Note 2. The accompanying unaudited condensed consolidated financial statements, which include the accounts of Celsion Corporation, CLSN Laboratories, Inc. and Celsion GmbH, have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) for interim financial information and with the instructions to Form 10 10 In the opinion of management, all adjustments, consisting only of normal recurring accruals considered necessary for a fair presentation, have been included in the accompanying unaudited condensed consolidated financial statements. Operating results for the three March 31, 2017 may 10 December 31, 2016 March 24, 2017. The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates, and assumptions that affect the amount reported in the Company’s financial statements and accompanying notes. Actual results could differ materially from those estimates. Events and conditions arising subsequent to the most recent balance sheet date have been evaluated for their possible impact on the financial statements and accompanying notes. No events and conditions would give rise to any information that required accounting recognition or disclosure in the financial statements other than those arising in the ordinary course of business.

Note 3 - Financial Condition an

Note 3 - Financial Condition and Going Concern	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	Note 3. Financial Condition and Going Concern Since inception, the Company has incurred substantial operating losses, principally from expenses associated with the Company’s research and development programs, clinical trials conducted in connection with the Company’s product candidates, and applications and submissions to the Food and Drug Administration. We have not generated significant revenue and have incurred significant net losses in each year since our inception. We have incurred approximately $247 March 31, 2017, $4.5 The Company expects its operating losses to continue for the foreseeable future as it continues its product development efforts, and when it undertakes marketing and sales activities. The Company’s ability to achieve profitability is dependent upon its ability to obtain governmental approvals, produce, and market and sell its new product candidates. There can be no assurance that the Company will be able to commercialize its technology successfully or that profitability will ever be achieved. The Company expects that its operating results will fluctuate significantly in the future and will depend on a number of factors, many of which are outside the Company’s control. The Company will need substantial additional funding in order to complete the development, testing and commercialization of its oncology product candidates and we have made a significant commitment to heat-activated liposome research and development projects. It is our intention at least to maintain the pace and scope of these development activities. The condensed consolidated financial statements have been prepared on the going concern basis. In making this assessment, management conducted a comprehensive review of the Company’s business plan including, but not limited to: ● the Company’s financial position for the quarter ended March 31, 2017; ● significant events and transaction the Company has entered into since December 31, 2016; ● the impact of the remaining payments of the note payable totaling $1.5 March 31, 2017; ● the Company’s capitalization structure including common stock outstanding and common stock issuable on exercise of warrants and equity awards, and other common stock issuable under equity plans; and ● continued support of the Company’s stockholders and lender. As a result of the uncertainties involved in our business, we are unable to estimate the duration and completion costs of our research and development projects or when, if ever, and to what extent we will receive cash inflows from the commercialization and sale of a product. Our inability to complete our research and development projects in a timely manner or our failure to enter into collaborative agreements, when appropriate, could significantly increase our capital requirements and could adversely impact our liquidity. These uncertainties could force us to seek additional, external sources of financing from time to time in order to continue with our business strategy. Our inability to raise additional capital, or to do so on terms reasonably acceptable to us, would jeopardize the future success of our business. Our estimated future capital requirements are uncertain and could change materially as a result of many factors, including the progress of our research, development, clinical, manufacturing, and commercialization activities. Management has determined the Company has suffered recurring losses from operations and has an accumulated deficit that raises substantial doubt about our ability to continue as a going concern for the next twelve A fundamental component of the ability to continue as a going concern is the Company’s ability to raise capital as required, as to which no assurances can be provided. To address the additional funding requirements of the Company, management has undertaken the following initiatives: ● on February 14, 2017, $5.0 ● the Company requested an increase of its authorized shares sufficient to allow for the funding of its clinical programs at its next Annual Meeting of Stockholders on May 16, 2017; ● the Company has $7.5 ● it assessed its current expenditures and has reduced the current spending requirements where necessary; ● it will pursue additional capital funding in the public and private markets through equity sales and/or debt facilities; ● it will pursue possible partnerships and collaborations; and ● it will pursue potential out licensing for its drug candidates. Our ability to continue as a going concern may If management is unsuccessful in these efforts, our current capital is not sufficient to fund our operations for the next twelve

Note 4 - New Accounting Pronoun

Note 4 - New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 4. From time to time, new accounting pronouncements are issued by Financial Accounting Standards Board (FASB) and are adopted by us as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows, or do not apply to our operations. In May 2014, 2014 09 606),” 2014 09 January 1, 2017; 2015 14, 606) 2014 09 one January 1, 2018. March 2016, 2016 8, 606): 2014 09 2014 09. April 2016, 2016 10, In January 2016, 2016 01, December 15, 2017. In February 2016, 2016 02, 842), twelve December 15, 2018, In March 2016, 2016 09, 718). December 15, 2016, The Company adopted this standard in January 2017 The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. In August 2016, 2016 15, 230): December 15, 2017, pem1itted. In November 2016, 2016 18, 230): 230, December 15, 2017, In January 2017, 2017 01, 805): December 15, 2018, In January 2017, 2017 04, 2 December 15, 2019,

Note 5 - Net Loss Per Common Sh

Note 5 - Net Loss Per Common Share	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 5. Basic earnings per share is calculated based upon the net income (loss) available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated after adjusting the denominator of the basic earnings per share computation for the effects of all dilutive potential common shares outstanding during the period. The dilutive effects of preferred stock, options and warrants and their equivalents are computed using the treasury stock method. For the three March 31, 2017 2016, 37,587,775 8,627,832 three March 31, 2017 2016,

Note 6 - Investment Securities

Note 6 - Investment Securities - Available for Sale	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 6. Short term investments available for sale of $1,680,000 December 31, 2016 December 31, 2016 A summary of the cost, fair value and maturities of the Company’s short-term investments as of December 31, 2016 December 31, 2016 Short-term investments Cost Fair Value Certificate of deposit $ 1,680,000 $ 1,680,000 Total $ 1,680,000 $ 1,680,000 December 31, 2016 Short-term investment maturities Cost Fair Value Within 3 months $ 1,680,000 $ 1,680,000 Total $ 1,680,000 $ 1,680,000 Investment income, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows: Three Months Ended March 31, Description of Securities 2017 2016 Interest and dividends accrued and paid $ 1,991 $ 18,987 Accretion of investment premium – (5,788 ) Realized losses – (3,858 ) Investment income, net $ 1,991 $ 9,341

Note 7 - Fair Value of Measurem

Note 7 - Fair Value of Measurements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 7. FASB Accounting Standards Codification (ASC) Section 820 Fair Value Measurements and Disclosures,” three three may Level 1 Level 2 1 Level 3 The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 2 Cash and cash equivalents, other current assets, accounts payable and other accrued liabilities are reflected in the balance sheet at their estimated fair values primarily due to their short-term nature. There were no 1 2 3 three March 31, 2017 13). Assets and liabilities measured at fair value are summarized below: Total Fair Value on the Balance Sheet Quoted Prices In Active Markets For Identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Recurring items as of December 31, 2016 Investment securities, available for sale $ 1,680,000 $ 1,680,000 $ ─ ─ Liabilities: Recurring items as of March 31, 2017 Earn-out milestone liability (Note 13) $ 13,471,977 ─ $ ─ $ 13,471,977 Recurring items as of December 31, 2016 Earn-out milestone liability (Note 13) $ 13,188,226 ─ $ ─ $ 13,188,226

Note 8 - Acquisition of EGEN, I

Note 8 - Acquisition of EGEN, Inc.	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 8. On June 20, 2014, The total aggregate purchase price for the acquisition is up to $44.4 $30.4 $3.0 2,712,188 670,070 The Earn-out payments of up to $30.4 ● $12.4 1 ● $12.0 1 ● up to $6.0 The acquisition of EGEN was accounted for under the acquisition method of accounting which required the Company to perform an allocation of the purchase price to the assets acquired and liabilities assumed. The fair value of the consideration transferred for the acquisition was approximately $27.6 The following table summarizes the fair values of these assets acquired and liabilities assumed related to the acquisition. Property and equipment, net $ 35,000 In-process research and development 24,211,000 Other Intangible assets (Covenant not to compete) 1,591,000 Goodwill 1,976,000 Total assets: 27,813,000 Accounts payable and accrued liabilities (235,000 ) Net assets acquired $ 27,578,000 Acquired In-Process Research and Development (IPR&D) consists of EGEN's drug technology platforms: TheraPlas and TheraSilence. The fair value of the IPR&D drug technology platforms was estimated to be $25.8 third September 30, As of September 30, 2016, December 31, 2016, one $1.4 $1.4 fourth 2016. $0.7 December 31, 2016. March 31, 2017 December 31, 2016 Pursuant to the EGEN Purchase Agreement, EGEN provided certain covenants (“Covenant Not To Compete”) to the Company whereby EGEN agreed, during the period ending on the seventh June 20, 2014, At the end of 2016, $1.6 7 fourth 2016, $568,290 2016. $56,829 first 2017. $966,095, $625,119 March 31, 2017 $1,022,924, $568,290 December 31, 2016. The purchase price exceeded the estimated fair value of the net assets acquired by approximately $2.0 third September 30 As of September 30, 2016, two December 31, 2016, 1 2, March 31, 2017 December 31, 2016

Note 9 - Accrued Liabilities

Note 9 - Accrued Liabilities	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 9. Other accrued liabilities at March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Amounts due to contract research organizations and other contractual agreements $ 958,270 $ 1,115,193 Accrued payroll and related benefits 1,676,035 1,066,751 Accrued professional fees 153,950 259,550 Accrued interest on notes payable 11,530 22,241 Other 20,021 20,021 Total $ 2,819,806 $ 2,483,756

Note 10 - Notes Payable

Note 10 - Notes Payable	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 10. In November 2013, $20 first $5 November 2013 $4 June 10, 2014, second $5 $3.0 second $10 The obligations under the Hercules Credit Agreement are in the form of secured indebtedness bearing interest at a calculated prime-based variable rate (11.25% December 17, 2015 11.50% first twelve 30 June 1, 2017. In connection with the Hercules Credit Agreement, the Company incurred cash expenses of $122,378. $230,000. As a fee in connection with the Hercules Credit Agreement, the Company issued Hercules a warrant for a total of 97,493 $3.59, November 25, 2013. second June 10, 2014, 97,493 November 25, 2018. November 25, 2013. may 144 first 415 1933 333 193936 September 30, 2014. $476,261 $5.0 3.5% $350,000 For the three March 31, 2017 2016, $44,655 $165,176 $17,685 $78,671, The Hercules Credit Agreement contains customary covenants, including covenants that limit or restrict the Company’s ability to grant liens, incur indebtedness, make certain restricted payments, merge or consolidate and make dispositions of assets. Upon the occurrence of an event of default under the Hercules Credit Agreement, the lenders may The remaining future principle payments and end of term fees net of debt discounts of $1,471,846 June 2017.

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 11. In September 2015, $75 3 2015 333 206789) September 25, 2015. At the 2016 June 2016, 75,000,000 112,500,000 100,000 may 112,600,000 February 14, 2017 On February 14, 2017, February 14, 2017 19,385,869 $0.23 16,489,402 2,600,000 $0.23 five $0.22 $0.01 9.99% $5.0 February 14, 2017 In connection with the February 14, 2017 1 333 215321) December 23, 2016, 1 January 20, 2017, 2 February 13, 2017, 3 February 13, 2017 4 February 14, 2017 1933, During the first 2017, 2,600,000 first 2017, $94,062 408,966 December 2016 On December 20, 2016, December 2016 December 2016 5,142,843 $0.35 $1.8 2015 In a concurrent private placement (the December 2016 one December 2016 December 2016 six five one December 2016 $0.46 5,142,843 December 2016 9.99% 61 may 9.99%. The December 2016 December 2016 2015 4(a)(2) 506(b) April 18, 2017, 1 December 2016 December 2016 144 December 2016 may 144 December 2016 Under the December 2016 three 1. June 2016 On June 13, 2016, June 2016 June 2016 2,311,764 $1.36 2,100,000 9.99% June 2016 2015 $6.0 June 2016 third 2016, 250,000 first 2017, 1,850,000 In a concurrent private placement (the June 2016 June 2016 0.5 June 2016 one June 2016 0.5 June 2016 June 2016 six five one June 2016 six one June 2016 June 2016 six five one June 2016 $1.40 8,823,528 June 2016 4.99% 61 may 9.99%. June 2016 June 2016 1933, 2015 4(a)(2) 506(b) October 31, 2016 1 June 2016 June 2016 144 June 2016 may 144 June 2016 Under the June 2016 six Controlled Equity Offering On February 1, 2013, SM may $25.0 3. may 415 1933, February 1, 2013 March 31, 2017, 1,479,535 $7.6 The Company is not obligated to sell any ATM Shares under the ATM Agreement. Subject to the terms and conditions of the ATM Agreement, Cantor will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of The NASDAQ Capital Market, to sell ATM Shares from time to time based upon the Company’s instructions, including any price, time or size limits or other customary parameters or conditions the Company may may The ATM Agreement will terminate upon the earlier of (i) the sale of ATM Shares under the ATM Agreement having an aggregate offering price of $25 may 10 3.0% $50,000 February June 23, 2017. On October 2, 2015, 2015 may $7.5 $17.4

Note 12 - Stock-based Compensat

Note 12 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 12. Stock Options Plans The Company has long-term compensation plans that permit the granting of incentive awards in the form of stock options. Generally, the terms of these plans require that the exercise price of the options may ten The Celsion Corporation 2007 2007 3,444,444 2007 two (one 2001 2004) 148,148 2007 2007 A summary of the Company’s stock option and restricted stock awards for the three March 31, 2017 Stock Options Restricted Stock Awards Weighted Average Equity Awards Options Outstanding Weighted Average Exercise Price Non-vested Restricted Stock Outstanding Weighted Average Grant Date Fair Value Contractual Terms of Equity Awards (in years) Equity awards outstanding at December 31, 2016 2,932,663 $ 4.31 67,000 $ 2.67 Equity awards forfeited, cancelled or expired (454,207 ) $ 13.15 (20,000 ) 1.87 Equity awards outstanding at March 31, 2017 2,478,456 $ 2.69 47,000 $ 3.01 6.8 Aggregate intrinsic value of outstanding awards at March 31, 2017 $ – $ 13,630 Equity awards exercisable at March 31, 2017 2,033,373 $ 2.60 7.5 Aggregate intrinsic value of awards exercisable at March 31, 2017 $ – The fair values of stock options granted were estimated at the date of grant using the Black-Scholes option pricing model. The Black-Scholes model was originally developed for use in estimating the fair value of traded options, which have different characteristics from Celsion’s stock options. The model is also sensitive to changes in assumptions, which can materially affect the fair value estimate. The Company used the following assumptions for determining the fair value of options granted during the three 2016 2017: Three Months Ended March 31, 2016 Risk-free interest rate 1.87 % Expected volatility 89.1 % Expected life (in years) 10.00 Expected forfeiture rate 10 % Expected dividend yield 0.0 % Expected volatilities utilized in the model are based on historical volatility of the Company’s stock price. The risk free interest rate is derived from values assigned to U.S. Treasury bonds with terms that approximate the expected option lives in effect at the time of grant. The model incorporates exercise, pre-vesting and post-vesting forfeiture assumptions based on analysis of historical data. The expiration of each option granted in fiscal 2016 Total compensation cost related to employee stock options and restricted stock awards totaled $117,466 $615,014 three March 31, 2017 2016, March 31, 2017 2016. As of March 31, 2017, $0.2 0.9 $1.14 three March 31, 2016. $1.33 three March 31, 2016. Collectively, for all of the Company’s stock option plans there were a total of 912,741 March 31, 2017.

Note 13 - Earn-out Milestone Li

Note 13 - Earn-out Milestone Liability	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earn-out Milestone Liability Disclosure [Text Block]	Note 13. The total aggregate purchase price for the EGEN Acquisition included potential future Earn-out Payments contingent upon achievement of certain milestones. The difference between the aggregate $30.4 $13.9 June 20, 2014 (10% 67%) (1.5 2.5 As of March 31, 2017 December 31, 2016, $13.5 $13.2 $283,751 three March 31, 2017 December 31, 2016. March 31, 2016 December 31, 2015, $14.2 $13.9 $302,656 three March 31, 2016 December 31, 2015. The following is a summary of the changes in the earn-out milestone liability for 2017: Balance at January 1, 2017 $ 13,188,226 Non-cash charge from the adjustment for the change in fair value included in net loss 283,751 Balance at March 31, 2017 $ 13,471,977 The following is a schedule of the Company’s risk-adjustment assessment of each milestone: Date Risk-adjustment Assessment of each Milestone Discount Rate Estimated Time to Achieve (years) March 31, 2017 50% to 80% 9% 1.75 to 2.25 December 31, 2016 50% to 80% 9% 2.00 to 2.50 March 31, 2016 10% to 75% 9% 0.25 to 2.25 December 31, 2015 10% to 75% 9% 0.50 to 2.50

Note 14 - Warrants

Note 14 - Warrants	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Warrants [Text Block]	Note 14. Common Stock Warrants Following is a summary of all warrant activity for the three March 31, 2017: Warrants Number of Warrants Issued Weighted Average Exercise Price Warrants outstanding at December 31, 2016 20,831,883 $ 1.88 Warrants issued during the three months ended March 31, 2017 (see Note 11) 19,089,402 0.20 Warrants exercised during the three months ended March 31, 2017 (see Note 11) (4,858,966 ) 0.03 Warrants outstanding at March 31, 2017 35,062,319 $ 1.22 Aggregate intrinsic value of outstanding warrants at March 31, 2017 $ 964,827 Weighted average remaining contractual terms at March 31, 2017 (in years) 4.16

Note 15 - Contingent Liabilitie

Note 15 - Contingent Liabilities and Commitments	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 15. In July 2011, 10,870 October 2011, 66 6 first $23,000 April 2012. $250,000, $50,000 19th, 31st 43rd $100,000 three $50,000 April 2013 2014 2015, $50,000 2015, April 30, 2017. April 2017, May 1, 2017. 64 7,565 four $50,000. $18,900 first $20,500 one 40 th In connection with the EGEN Asset Purchase agreement in June 2014, 11,500 10 $23,200

Note 16 - Technology Developmen

Note 16 - Technology Development and Licensing Agreements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Licensing Transaction [Text Block]	Note 16. On May 7, 2012 three first 2015, three $685,787 March 2015. April 2015. On January 18, 2013, $5 ® January 31, 2013 January 18, 2013 ® $5.0 first 2013 10 ® On July 19, 2013, Among the key provisions of the Celsion-Hisun Memorandum of Understanding are: ● Hisun will provide the Company with non-dilutive financing and the investment necessary to complete the technology transfer of its proprietary manufacturing process and the production of registration batches for the China territory; ● Hisun will collaborate with the Company around the clinical and regulatory approval activities for ThermoDox® as well as other liposomal formations with the CHINA FDA; and ● Hisun will be granted a right of first On August 8, 2016, 1 1, 12 1 1 1 first Key provisions of the GEN- 1 ● the GEN- 1 1 ● once approved, the cost structure for GEN- 1 ● Celsion will provide Hisun a certain percentage of China’s commercial unit demand, and separately of global commercial unit demand, subject to regulatory approval; ● Hisun and Celsion will commence technology transfer activities relating to the manufacture of GEN- 1, ● Hisun will collaborate with Celsion around the regulatory approval activities for GEN- 1

Note 6 - Investment Securitie23

Note 6 - Investment Securities - Available for Sale (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Available-for-sale Securities [Table Text Block]	December 31, 2016 Short-term investments Cost Fair Value Certificate of deposit $ 1,680,000 $ 1,680,000 Total $ 1,680,000 $ 1,680,000 December 31, 2016 Short-term investment maturities Cost Fair Value Within 3 months $ 1,680,000 $ 1,680,000 Total $ 1,680,000 $ 1,680,000
Investment Income [Table Text Block]	Three Months Ended March 31, Description of Securities 2017 2016 Interest and dividends accrued and paid $ 1,991 $ 18,987 Accretion of investment premium – (5,788 ) Realized losses – (3,858 ) Investment income, net $ 1,991 $ 9,341

Note 7 - Fair Value of Measur24

Note 7 - Fair Value of Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Total Fair Value on the Balance Sheet Quoted Prices In Active Markets For Identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Recurring items as of December 31, 2016 Investment securities, available for sale $ 1,680,000 $ 1,680,000 $ ─ ─ Liabilities: Recurring items as of March 31, 2017 Earn-out milestone liability (Note 13) $ 13,471,977 ─ $ ─ $ 13,471,977 Recurring items as of December 31, 2016 Earn-out milestone liability (Note 13) $ 13,188,226 ─ $ ─ $ 13,188,226

Note 8 - Acquisition of EGEN,25

Note 8 - Acquisition of EGEN, Inc. (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Property and equipment, net $ 35,000 In-process research and development 24,211,000 Other Intangible assets (Covenant not to compete) 1,591,000 Goodwill 1,976,000 Total assets: 27,813,000 Accounts payable and accrued liabilities (235,000 ) Net assets acquired $ 27,578,000

Note 9 - Accrued Liabilities (T

Note 9 - Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, 2017 December 31, 2016 Amounts due to contract research organizations and other contractual agreements $ 958,270 $ 1,115,193 Accrued payroll and related benefits 1,676,035 1,066,751 Accrued professional fees 153,950 259,550 Accrued interest on notes payable 11,530 22,241 Other 20,021 20,021 Total $ 2,819,806 $ 2,483,756

Note 12 - Stock-based Compens27

Note 12 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Share-based Compensation Stock Options and Restricted Stock Awards Activity [Table Text Block]	Stock Options Restricted Stock Awards Weighted Average Equity Awards Options Outstanding Weighted Average Exercise Price Non-vested Restricted Stock Outstanding Weighted Average Grant Date Fair Value Contractual Terms of Equity Awards (in years) Equity awards outstanding at December 31, 2016 2,932,663 $ 4.31 67,000 $ 2.67 Equity awards forfeited, cancelled or expired (454,207 ) $ 13.15 (20,000 ) 1.87 Equity awards outstanding at March 31, 2017 2,478,456 $ 2.69 47,000 $ 3.01 6.8 Aggregate intrinsic value of outstanding awards at March 31, 2017 $ – $ 13,630 Equity awards exercisable at March 31, 2017 2,033,373 $ 2.60 7.5 Aggregate intrinsic value of awards exercisable at March 31, 2017 $ –
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2016 Risk-free interest rate 1.87 % Expected volatility 89.1 % Expected life (in years) 10.00 Expected forfeiture rate 10 % Expected dividend yield 0.0 %

Note 13 - Earn-out Milestone 28

Note 13 - Earn-out Milestone Liability (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Changes in Earn out Milestone Liabilities [Table Text Block]	Balance at January 1, 2017 $ 13,188,226 Non-cash charge from the adjustment for the change in fair value included in net loss 283,751 Balance at March 31, 2017 $ 13,471,977
Schedule of Milestone Risk Adjustment Assessment [Table Text Block]	Date Risk-adjustment Assessment of each Milestone Discount Rate Estimated Time to Achieve (years) March 31, 2017 50% to 80% 9% 1.75 to 2.25 December 31, 2016 50% to 80% 9% 2.00 to 2.50 March 31, 2016 10% to 75% 9% 0.25 to 2.25 December 31, 2015 10% to 75% 9% 0.50 to 2.50

Note 14 - Warrants (Tables)

Note 14 - Warrants (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Warrant Activity [Table Text Block]	Warrants Number of Warrants Issued Weighted Average Exercise Price Warrants outstanding at December 31, 2016 20,831,883 $ 1.88 Warrants issued during the three months ended March 31, 2017 (see Note 11) 19,089,402 0.20 Warrants exercised during the three months ended March 31, 2017 (see Note 11) (4,858,966 ) 0.03 Warrants outstanding at March 31, 2017 35,062,319 $ 1.22 Aggregate intrinsic value of outstanding warrants at March 31, 2017 $ 964,827 Weighted average remaining contractual terms at March 31, 2017 (in years) 4.16

Note 3 - Financial Condition 30

Note 3 - Financial Condition and Going Concern (Details Textual) - USD ($)	Feb. 14, 2017	Oct. 02, 2015	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Retained Earnings (Accumulated Deficit)			$ (246,539,848)	$ (241,379,712)
Cash and Cash Equivalents, at Carrying Value			4,469,576	$ 2,624,162	$ 14,310,542	$ 9,265,144
Notes Payable			$ 1,500,000
Aggregate Offering Price, Additions		$ 7,500,000
February 14, 2017 Public Offering [Member]
Proceeds from Issuance of Common Stock	$ 5,000,000

Note 5 - Net Loss Per Common 31

Note 5 - Net Loss Per Common Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Number of Shares of Common Stock Issuable Upon Exercise of Warrants and Equity Awards	37,587,775	8,627,832

Note 6 - Investment Securitie32

Note 6 - Investment Securities - Available for Sale (Details Textual) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Short-term Investments		$ 1,680,000
Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), before Tax		0
Short Term Investments Available for Sale [Member]
Short-term Investments		$ 1,680,000

Note 6 - Investment Securitie33

Note 6 - Investment Securities - Available for Sale - Short-term Investment by Bond Maturities (Details)	Dec. 31, 2016USD ($)
Short-term investments, cost	$ 1,680,000
Short-term investments, fair value	1,680,000
Certificate of Deposit [Member]
Short-term investments, cost	1,680,000
Short-term investments, fair value	1,680,000
Investment Maturing Within Three Months [Member]
Short-term investments, cost	1,680,000
Short-term investments, fair value	$ 1,680,000

Note 6 - Investment Securitie34

Note 6 - Investment Securities - Available for Sale - Investment Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Interest and dividends accrued and paid	$ 1,991	$ 18,987
Accretion of investment premium		(5,788)
Realized losses		(3,858)
Investment income, net	$ 1,991	$ 9,341

Note 7 - Fair Value of Measur35

Note 7 - Fair Value of Measurements (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3	$ 0
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	0
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3	$ 0

Note 7 - Fair Value of Measur36

Note 7 - Fair Value of Measurements - Assets and Liabilities at Fair Value on a Recurring Basis (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Short-term investments, fair value		$ 1,680,000
Earn-out milestone liability	$ 13,471,977	13,188,226
Fair Value, Measurements, Recurring [Member]
Short-term investments, fair value		1,680,000
Earn-out milestone liability	13,471,977	13,188,226
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Short-term investments, fair value		1,680,000
Earn-out milestone liability
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Short-term investments, fair value
Earn-out milestone liability	$ 13,471,977	$ 13,188,226

Note 8 - Acquisition of EGEN,37

Note 8 - Acquisition of EGEN, Inc. (Details Textual) - USD ($)	Aug. 02, 2016	Jun. 20, 2014	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Gain (Loss) from Valuation of Milestone Liability			$ (283,751)	$ (302,656)	$ 700,000
Finite-Lived Intangible Assets, Net			966,095		1,022,924
Noncompete Agreements [Member]
Finite-Lived Intangible Assets, Accumulated Amortization			625,119		568,290
Amortization of Intangible Assets			56,829
Finite-Lived Intangible Assets, Net			966,095		1,022,924
Indefinite-lived in Process Research and Development [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)					1,400,000
EGEN Inc [Member]
Business Combination, Consideration Transferred		$ 27,600,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		30,400,000	$ 30,400,000
Payments to Acquire Businesses, Gross		$ 3,000,000
Stock Issued During Period, Shares, Acquisitions		2,712,188
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	670,070
Goodwill, Acquired During Period		$ 2,000,000
EGEN Inc [Member] | Noncompete Agreements [Member]
Finite-lived Intangible Assets Acquired					$ 1,600,000
Finite-Lived Intangible Asset, Useful Life					7 years
EGEN Inc [Member] | Indefinite-lived in Process Research and Development [Member]
Indefinite-lived Intangible Assets Acquired		25,800,000
EGEN Inc [Member] | Ovarian Cancer Study Milestone [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 12,400,000
EGEN Inc [Member] | Glioblastoma Multiforme Brain Cancer Study Milestone [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	12,000,000
EGEN Inc [Member] | TheraSilence Technology Milestone [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 6,000,000
EGEN Inc [Member] | Maximum [Member]
Business Combination, Consideration Transferred		$ 44,400,000

Note 8 - Acquisition of EGEN,38

Note 8 - Acquisition of EGEN, Inc. - Summary of Estimated Fair Values of Acquired Assets and Liabilities (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Jun. 20, 2014
Goodwill	$ 1,976,101	$ 1,976,101
EGEN Inc [Member]
Property and equipment, net			$ 35,000
In-process research and development			24,211,000
Other Intangible assets (Covenant not to compete)			1,591,000
Goodwill			1,976,000
Total assets:			27,813,000
Accounts payable and accrued liabilities			(235,000)
Net assets acquired			$ 27,578,000

Note 9 - Accrued Liabilities -

Note 9 - Accrued Liabilities - Other Accrued Liabilities (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Amounts due to contract research organizations and other contractual agreements	$ 958,270	$ 1,115,193
Accrued payroll and related benefits	1,676,035	1,066,751
Accrued professional fees	153,950	259,550
Accrued interest on notes payable	11,530	22,241
Other	20,021	20,021
Total	$ 2,819,806	$ 2,483,756

Note 10 - Notes Payable (Detail

Note 10 - Notes Payable (Details Textual) - USD ($)	Jun. 20, 2014	Jun. 10, 2014	Nov. 30, 2013	Mar. 31, 2017	Mar. 31, 2016	Jun. 10, 2014	Dec. 15, 2016	Dec. 17, 2015	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2015	Nov. 25, 2013
Debt Instrument, Basis Spread on Variable Rate							11.50%
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 1.22					$ 1.22	$ 1.88
Notes Payable				$ 1,500,000					$ 1,500,000
Hercules Warrant [Member]
Debt Instrument, Unamortized Discount		$ 476,261				$ 476,261
EGEN Inc [Member]
Payments to Acquire Businesses, Gross	$ 3,000,000
Hercules Credit Agreement [Member]
Repayments of Lines of Credit			$ 4,000,000
Interest Expense, Debt				44,655	$ 165,176
Amortization of Debt Issuance Costs				17,685	$ 78,671
Notes Payable				1,471,846					$ 1,471,846
Hercules Credit Agreement [Member] | Hercules Warrant [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights												$ 3.59
Line of Credit Facility Original Loan Fee Percent											3.50%
Debt Issuance Costs, Gross											$ 350,000
Hercules Credit Agreement [Member] | Hercules Warrant [Member] | First Fifty Percent [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right												97,493
Hercules Credit Agreement [Member] | Hercules Warrant [Member] | Second Fifty Percent [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		97,493				97,493
Hercules Credit Agreement [Member] | EGEN Inc [Member]
Payments to Acquire Businesses, Gross		$ 3,000,000
Hercules [Member]
Repayments of Lines of Credit		$ 5,000,000
Hercules [Member] | Hercules Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity			20,000,000
Proceeds from Lines of Credit			5,000,000			$ 10,000,000
Debt Instrument, Basis Spread on Variable Rate								11.25%
Amortization Period for Principal and Interest									2 years 180 days
Debt Issuance Costs, Net				$ 122,378					$ 122,378
Debt Instrument, Unamortized Discount			$ 230,000

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity (Details Textual) - USD ($)

Feb. 14, 2017

Dec. 20, 2016

Jun. 13, 2016

Oct. 02, 2015

Feb. 01, 2013

Sep. 30, 2015

Feb. 25, 2013

Mar. 31, 2017

Sep. 30, 2016

Mar. 31, 2016

Mar. 31, 2017

Dec. 31, 2016

Jun. 30, 2016

May 31, 2016

Shelf Registration Statement Amount

$ 75,000,000

Common Stock, Shares Authorized

112,500,000

112,500,000

112,500,000

112,500,000

75,000,000

Preferred Stock, Shares Authorized

100,000

Aggregate of Common and Preferred Stock, Shares Authorized

112,600,000

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 1.22

$ 1.22

$ 1.88

Proceeds from Warrant Exercises

$ 138,563

Class of Warrant or Right, Outstanding

35,062,319

35,062,319

20,831,883

Aggregate Offering Price, Additions

$ 7,500,000

February 14, 2017 Public Offering [Member]

Stock Issued During Period, Shares, New Issues

19,385,869

Shares Issued, Price Per Share

$ 0.23

Maximum Beneficial Ownership of the Purchaser

9.99%

Proceeds from Issuance of Common Stock

$ 5,000,000

February 14, 2017 Public Offering [Member] | Series AA Warrant [Member]

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

16,489,402

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 0.23

Class of Warrant or Right, Term

5 years

Stock Issued During Period, Shares, Exercise of Warrants

408,966

Proceeds from Warrant Exercises

$ 94,062

February 14, 2017 Public Offering [Member] | Pre-Funded Series BB Warrant [Member]

Shares Issued, Price Per Share

$ 0.22

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

2,600,000

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 0.01

Stock Issued During Period, Shares, Exercise of Warrants

2,600,000

December 2016 Common Stock Offering [Member]

Stock Issued During Period, Shares, New Issues

5,142,843

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

5,142,843

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 0.46

Maximum Beneficial Ownership of the Purchaser

9.99%

Proceeds from Issuance of Common Stock

$ 1,800,000

Share Price

$ 0.35

Class of Warrant or Right, Number of Securities Called by Each Warrant or Right

1

Warrants Exercisable Period

180 days

Warrants Issued Expiration Period

5 years 182 days

Number of Days Notice Requirement to Increase or Decrease Beneficial Ownership Limitation

61 days

June 2016 Common Stock Offering [Member]

Stock Issued During Period, Shares, New Issues

2,311,764

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

8,823,528

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 1.40

Maximum Beneficial Ownership of the Purchaser

9.99%

Proceeds from Issuance of Common Stock

$ 6,000,000

Share Price

$ 1.36

Number of Days Notice Requirement to Increase or Decrease Beneficial Ownership Limitation

61 days

Ownership Percentage, Restriction Threshold for Warrant Exercise

4.99%

Common Stock Offering Period of Restriction

180 days

June 2016 Common Stock Offering [Member] | Series B Warrant [Member]

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

2,100,000

Class of Warrant or Right, Outstanding

1,850,000

1,850,000

June 2016 Common Stock Offering [Member] | Series B Warrant [Member] | Common Stock [Member]

Stock Issued During Period, Shares, Exercise of Warrants

250,000

June 2016 Common Stock Offering [Member] | Series A Warrant [Member]

Class of Warrant or Right, Number of Securities Called by Each Warrant or Right

0.5

Warrants Exercisable Period

180 days

Warrants Issued Expiration Period

5 years 182 days

June 2016 Common Stock Offering [Member] | Series C Warrant [Member]

Class of Warrant or Right, Number of Securities Called by Each Warrant or Right

1

Warrants Exercisable Period

180 days

Warrants Issued Expiration Period

1 year

June 2016 Common Stock Offering [Member] | Series D Warrant [Member]

Class of Warrant or Right, Number of Securities Called by Each Warrant or Right

0.5

Warrants Exercisable Period

180 days

Warrants Issued Expiration Period

5 years 182 days

ATM Agreement [Member]

Stock Issued During Period, Shares, New Issues

1,479,535

Proceeds from Issuance of Common Stock

$ 7,600,000

Aggregate Offering Price

$ 25,000,000

$ 17,400,000

Commission on Proceeds from ATM Shares Percent

3.00%

Legal Fees

$ 50,000

Aggregate Offering Price, Additions

$ 7,500,000

Note 12 - Stock-based Compens42

Note 12 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2014	Dec. 31, 2006
Stock Incentive Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			3,444,444	148,148
Allocated Share-based Compensation Expense	$ 117,466	$ 615,014
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 200,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	328 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 1.14
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 0	$ 0
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	912,741
Restricted Stock [Member] | Stock Incentive Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 1.33

Note 12 - Stock-based Compens43

Note 12 - Stock-based Compensation - Stock Option and Restricted Stock (Details)	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Equity awards outstanding, options (in shares) | shares	2,932,663
Equity awards outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 4.31
Equity awards forfeited, cancelled or expired (in shares) | shares	(454,207)
Equity awards forfeited, cancelled or expired, weighted average exercise price (in dollars per share) | $ / shares	$ 13.15
Equity awards outstanding, options (in shares) | shares	2,478,456
Equity awards outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 2.69
Equity awards outstanding, contractual term (Year)	6 years 292 days
Equity awards exercisable, options (in shares) | shares	2,033,373
Equity awards exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 2.60
Equity awards exercisable, contractual term (Year)	7 years 182 days
Aggregate intrinsic value of awards exercisable, options | $
Restricted Stock [Member]
Equity awards outstanding, non-vested restricted stock (in shares) | shares	67,000
Equity awards outstanding, non-vested restricted stock weighted average grant date fair value (in dollars per share) | $ / shares	$ 2.67
Equity awards forfeited, cancelled or expired (in shares) | shares	(20,000)
Equity awards forfeited, cancelled or expired, non-vested restricted stock weighted average grant date fair value (in dollars per share) | $ / shares	$ 1.87
Equity awards outstanding, non-vested restricted stock (in shares) | shares	47,000
Equity awards outstanding, non-vested restricted stock weighted average grant date fair value (in dollars per share) | $ / shares	$ 3.01
Aggregate intrinsic value of outstanding awards, non-vested restricted stock | $	$ 13,630

Note 12 - Stock-based Compens44

Note 12 - Stock-based Compensation - Fair Value of Option Assumptions (Details) - Employee Stock Option [Member]	3 Months Ended
	Mar. 31, 2016
Risk-free interest rate	1.87%
Expected volatility	89.10%
Expected life (in years) (Year)	10 years
Expected forfeiture rate	10.00%
Expected dividend yield	0.00%

Note 13 - Earn-out Milestone 45

Note 13 - Earn-out Milestone Liability (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Jun. 20, 2014	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Gain (Loss) from Change in Fair Value of Earn out Milestone Liability		$ 283,751
Minimum [Member]
Risk Adjusted Assessment of Each Milestone		50.00%	10.00%	50.00%	10.00%
Estimated Time to Achieve the Milestone		1 year 273 days	91 days	2 years	182 days
Maximum [Member]
Risk Adjusted Assessment of Each Milestone		80.00%	75.00%	80.00%	75.00%
Estimated Time to Achieve the Milestone		2 years 91 days	2 years 91 days	2 years 182 days	2 years 182 days
EGEN Inc [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 30,400,000	$ 30,400,000
Business Combination, Consideration Transferred, Liabilities Incurred	$ 13,900,000	13,500,000	$ 14,200,000	$ 13,200,000	$ 13,900,000
Gain (Loss) from Change in Fair Value of Earn out Milestone Liability		$ 283,751	$ 302,656
EGEN Inc [Member] | Minimum [Member]
Risk Adjusted Assessment of Each Milestone	10.00%
Estimated Time to Achieve the Milestone	1 year 182 days
EGEN Inc [Member] | Maximum [Member]
Risk Adjusted Assessment of Each Milestone	67.00%
Estimated Time to Achieve the Milestone	2 years 182 days

Note 13 - Earn-out Milestone 46

Note 13 - Earn-out Milestone Liability - Summary of the Changes in the Earn-out Milestone Liability (Details)	3 Months Ended
	Mar. 31, 2017USD ($)
Balance	$ 13,188,226
Non-cash charge from the adjustment for the change in fair value included in net loss	283,751
Balance	$ 13,471,977

Note 13 - Earn-out Milestone 47

Note 13 - Earn-out Milestone Liability - Schedule of Milestone Risk-adjustment Assessment (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Discount rate	9.00%	9.00%	9.00%	9.00%
Minimum [Member]
Risk-adjustment assessment	50.00%	10.00%	50.00%	10.00%
Estimated time to achieve (Year)	1 year 273 days	91 days	2 years	182 days
Maximum [Member]
Risk-adjustment assessment	80.00%	75.00%	80.00%	75.00%
Estimated time to achieve (Year)	2 years 91 days	2 years 91 days	2 years 182 days	2 years 182 days

Note 14 - Warrants - Summary of

Note 14 - Warrants - Summary of Warrant Activity (Details)	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Warrants outstanding (in shares) | shares	20,831,883
Warrants outstanding (in dollars per share) | $ / shares	$ 1.88
Warrants issued during the three months ended March 31, 2017 (see Note 11) (in shares) | shares	19,089,402
Warrants issued during the three months ended March 31, 2017 (see Note 11) (in dollars per share) | $ / shares	$ 0.20
Warrants exercised during the three months ended March 31, 2017 (see Note 11) (in shares) | shares	(4,858,966)
Warrants exercised during the three months ended March 31, 2017 (see Note 11) (in dollars per share) | $ / shares	$ 0.03
Warrants outstanding (in shares) | shares	35,062,319
Warrants outstanding (in dollars per share) | $ / shares	$ 1.22
Aggregate intrinsic value of outstanding warrants | $	$ 964,827
Weighted average remaining contractual terms (Year)	4 years 58 days

Note 15 - Contingent Liabilit49

Note 15 - Contingent Liabilities and Commitments (Details Textual)	1 Months Ended
	Apr. 30, 2017USD ($)a	Apr. 30, 2015USD ($)	Jun. 30, 2014USD ($)ft²	Apr. 30, 2014USD ($)	Apr. 30, 2013USD ($)	Apr. 30, 2012USD ($)	Jul. 31, 2011ft²	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Contractual Obligation								$ 958,270	$ 1,115,193
Standby Letters of Credit [Member]
Contractual Obligation Reduction Nineteen Months from Initial Term						$ 50,000
Contractual Obligation Remaining						100,000
Contractual Obligation Reduction Forty Three Months from Initial Term						50,000
Contractual Obligation Reduction Thirty One Months from Initial Term						50,000
Lawrenceville New Jersey [Member]
Area of Real Estate Property | ft²			11,500				10,870
Lessee, Operating Lease, Term of Contract							5 years 180 days
Number of Months in Which Free Rent Is Provided							180 days
Payments for Rent						23,000
Reduction of Escrow Deposit		$ 50,000		$ 50,000	$ 50,000
Lawrenceville New Jersey [Member] | Subsequent Event [Member]
Area of Real Estate Property | a	7,565
Number of Months in Which Free Rent Is Provided	120 days
Lessee, Operating Lease, Additional Term of Contract	5 years 120 days
Escrow Deposit	$ 50,000
Operating Leases, Monthly Rent Payment in First Year	18,900
Operating Leases, Monthly Rent Payment in Final Year	$ 20,500
Lawrenceville New Jersey [Member] | Standby Letters of Credit [Member]
Contractual Obligation						$ 250,000
Premises Located in Huntsville Alabama [Member]
Lessee, Operating Lease, Term of Contract			10 years
Operating Leases, Monthly Rent Payment			$ 23,200

Note 16 - Technology Developm50

Note 16 - Technology Development and Licensing Agreements (Details Textual) - USD ($)	Jan. 18, 2013	Mar. 31, 2013	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2015
Contractual Obligation			$ 958,270	$ 1,115,193
Deferred Revenue		$ 5,000,000
Deferred Revenue Amortization Period		10 years
Hisun [Member]
Contractual Obligation					$ 685,787
Proceeds from License Fees Received	$ 5,000,000