Imunon (IMNN) 10-Q 14 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 13, 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)		16,062,341
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 2,685,010	$ 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	89,302	204,408
Subtotal current assets	2,774,312	4,512,578
Property and equipment (at cost, less accumulated depreciation and amortization of $2,854,122 and $2,513,022, respectively)	142,862	462,836
Other assets:
In-process research and development	20,246,491	22,766,491
Other intangible assets, net	852,437	1,022,924
Goodwill	1,976,101	1,976,101
Security deposit on letter of credit		100,000
Patent licensing fees and other assets, net	8,761	8,761
Subtotal other assets	23,083,790	25,874,277
Total assets	26,000,964	30,849,691
Current liabilities:
Accounts payable - trade	2,806,201	2,878,978
Other accrued liabilities	2,690,973	2,483,756
Notes payable - current portion		2,560,553
Deferred revenue – current portion	500,000	500,000
Subtotal current liabilities	5,997,174	8,423,287
Earn-out milestone liability	12,518,054	13,188,226
Deferred revenue – non-current portion	2,125,000	2,500,000
Other liabilities – non-current portion	73,680	12,352
Total liabilities	20,713,908	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 September 30, 2017 and December 31, 2016, respectively)
Common stock - $0.01 par value (112,500,000 shares authorized; 5,914,560 and 2,230,452 shares issued at June 30, 2017 and December 31, 2016, respectively, and 5,914,226 and 2,230,118 shares outstanding at June 30, 2017 and December 31, 2016, respectively)	83,555	22,305
Additional paid-in capital	262,389,735	248,168,421
Accumulated deficit	(257,101,046)	(241,379,712)
Subtotal	5,372,244	6,811,014
Treasury stock, at cost (334 shares at September 30, 2017 and December 31, 2016)	(85,188)	(85,188)
Total stockholders’ equity	5,287,056	6,725,826
Total liabilities and stockholders’ equity	$ 26,000,964	$ 30,849,691

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Property and equipment, accumulated depreciation	$ 2,854,122	$ 2,513,022
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
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)	8,355,013	2,230,452
Common stock, shares outstanding (in shares)	8,354,679	2,230,118
Treasury stock, shares (in shares)	334	334

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Licensing revenue	$ 125,000	$ 125,000	$ 375,000	$ 375,000
Operating expenses:
Research and development	3,348,847	4,225,132	9,870,754	11,002,675
General and administrative	1,174,250	1,496,471	4,291,482	4,888,301
Total operating expenses	4,523,097	5,721,603	14,162,236	15,890,976
Loss from operations	(4,398,097)	(5,596,603)	(13,787,236)	(15,515,976)
Other income (expense):
Gain (loss) from change in valuation of earn-out milestone liability	1,246,151	(662,410)	670,172	(556,382)
Loss from impairment of in-process research and development	(2,520,000)		(2,520,000)
Investment income, net	524	8,133	3,941	21,832
Interest expense		(161,025)	(91,756)	(608,576)
Other income	93	2,218	3,545	1,965
Total other expense, net	(1,273,232)	(813,084)	(1,934,098)	(1,141,161)
Net loss	(5,671,329)	(6,409,687)	(15,721,334)	(16,657,137)
Deemed dividend related to warrant modification			(345,685)
Net loss attributable to common shareholders	$ (5,671,329)	$ (6,409,687)	$ (16,067,019)	$ (16,657,137)
Net loss per common share
Basic and diluted (in dollars per share)	$ (0.70)	$ (3.22)	$ (3.04)	$ (9.27)
Weighted average shares outstanding
Basic and diluted (in shares)	8,054,658	1,993,233	5,171,699	1,796,184

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net loss	$ (5,671,329)	$ (6,409,687)	$ (15,721,334)	$ (16,657,137)
Other comprehensive (loss) gain
Realized loss on investment securities recognized in investment income, net				3,858
Unrealized gain on investment securities		464		464
Other comprehensive gain		464		4,322
Comprehensive loss	$ (5,671,329)	$ (6,409,223)	$ (15,721,334)	$ (16,652,815)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (15,721,334)	$ (16,657,137)
Non-cash items included in net loss:
Depreciation and amortization	511,587	365,625
Change in fair value of earn-out milestone liability	(670,172)	556,382
Impairment of in-process research and development	2,520,000
Deferred revenue	(375,000)	(375,000)
Stock-based compensation costs	951,488	1,331,094
Shares issued out of treasury		79,238
Amortization of deferred finance charges and debt discount associated with notes payable	35,370	198,806
Change in deferred rent liability	61,328	(25,981)
Loss realized on sale of investment securities		3,858
Net changes in:
Accrued interest on short term investments	4,008	22,205
Advances, deposits and other current assets	115,106	(136,871)
Accounts payable	(72,777)	195,716
Accrued liabilities	207,217	725,660
Net cash (used in) operating activities:	(12,433,179)	(13,716,405)
Cash flows from investing activities:
Proceeds from sale and maturity of investment securities	1,680,000	10,800,000
Purchases of investment securities		(4,515,125)
Refund of security for letter of credit	100,000
Purchases of property and equipment	(21,126)	(48,928)
Net cash provided by investing activities	1,758,874	6,235,947
Cash flows from financing activities:
Proceeds from sale of common stock equity, net of issuance costs	8,405,190	5,428,965
Proceeds from exercise of common stock warrants, net of issuance costs	4,925,886
Principal payment and end of term charges on note payable	(2,595,923)	(3,029,429)
Net cash provided by financing activities	10,735,153	2,399,536
Increase (decrease) in cash and cash equivalents	60,848	(5,080,922)
Cash and cash equivalents at beginning of period	2,624,162	9,265,144
Cash and cash equivalents at end of period	2,685,010	4,184,222
Supplemental disclosures of cash flow information:
Interest paid	$ 56,386	$ 409,996

Note 1 - Business Description

Note 1 - Business Description	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	Note 1. Business Description 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. We are working to develop and commercialize more efficient, effective and targeted oncology therapies based on our technologies, with the goal of developing novel therapeutics that maximize efficacy while minimizing side effects common to many cancer treatments. 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. Our pipeline includes GEN- 1, 1

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Basis of Accounting [Text Block]	Note 2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements, which include the account s 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 X. 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. Oper ating results for the three nine September 30, 2017 not 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 As more fully described in Note 10, 14 1 May 26, 2017 May 30, 2017. 14 1

Note 3 - Financial Condition an

Note 3 - Financial Condition and Business Plan	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	Note 3. Financial Condition and Business Plan 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 (FDA) among other international regulatory authorities. We have incurred approximately $257 September 30, 2017, $2.7 16, October 4, 2017, 4.7 $2.07 $4.75 1.2 $6.20 0.3 $17.0 16, October 27, 2017, 2.6 1.3 $6.6 We have substantial future capital requirements associated with our continued research and development activities and to advance our product candidates through various stages of development. The Company believes these expenditures are essential for the commercialization of its technologies. The actual amount of funds the Company will need to operate is subject to many factors, some of which are beyond the Company ’s control. These factors include the following: ● the progress of research activities; ● the number and scope of research programs; ● the progress of preclinical and clinical development activities; ● the progress of the development efforts of parties with whom the Company has entered into research and development agreements; ● the costs associated with additional clinical trials of product candidates; ● the ability to maintain current research and development licensing arrangements and to establish new research and development and licensing arrangements; ● the ability to achieve milestones under licensing arrangements; ● the costs involved in prosecuting and enforcing patent claims and other intellectual property rights; and ● the costs and timing of regulatory approvals. The Company has based its estimate on assumptions that may may Potential sources of financing include strategic relationships, public or private sales of the Company’s shares or debt and other sources. If the Company raises funds by selling additional shares of common stock or other securities convertible into common stock, the ownership interest of existing stockholders may With the $2.7 September 30, 2017 23.6 October 2017 ( 16 second 2019. 10, $7.5 not not may $23.6 October, 2017,

Note 4 - New Accounting Pronoun

Note 4 - New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 4. New Accounting Pronouncements 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 not In May 2014, (ASU) No. 2014 09 606 2014 09 January 1, 2017; 2015 14, 606 2014 09 one January 1, 2018. March 2016, No. 2016 8, 606 not No. 2014 09 No. 2014 09. April 2016, No. 2016 10, January 1, 2018 2017 2014 09 not not In January 2016, No. 2016 01, of Financial Assets and Financial Liabilities, which requires that most equity investments be measured at fair value, with subsequent changes in fair value recognized in net income (other than those accounted for under the equity method of accounting). This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. 2016 01 not In February 2016, No. 2016 02, 842 twelve es will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This update also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. The update is effective for fiscal years beginning after December 15, 2018, In March 2016, No. 2016 09, – Stock Compensation (Topic 718 December 15, 2016, January 2017 not In August 2016, No. 2 016 15, 230 December 15, 2017, 2016 01 not In November 2016, No. 2016 18, 230 230, d restricted cash and how entities present, in their statement of cash flows, the cash receipts and cash payments that directly affect the restricted cash accounts. This guidance is effective for annual reporting periods beginning after December 15, 2017, 2016 01 not In Ja nuary 2017, No. 2017 01, 805 December 15, 2018, In January 2017, No. 2017 04, mpairment, which eliminates Step 2 not December 15, 2019, 2017.

Note 5 - Net Loss Per Common Sh

Note 5 - Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 5. Net Loss per Common Share Basic loss per share is calculated based upon the net loss available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted loss 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. The total num ber of shares of common stock issuable upon exercise of warrants and equity awards was 6,208,386 three nine September 30, 2017. three nine September 30, 2017, For the three nine September 30, 2016, 1,353,312 10 132,142 three nine September 30, 2016, 1,221,168

Note 6 - Fair Value of Measurem

Note 6 - Fair Value of Measurements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 6. Fair Value of Measurements FASB Accounting Standards Codification (ASC) Section 820 Fair Value Measurements and Disclosures,” three three may Level 1 : Quoted prices (unadjusted) or identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date; Level 2 : Significant other observable inputs other than Level 1 not Level 3 : Significant unobservable inputs that reflect a reporting entity’s own assumptions that market participants would use in pricing an asset or liability. The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 atrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 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 s of assets of liabilities between Level 1 2 no 3 nine September 30, 2017 12 Assets and liabili ties 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 September 30, 2017 Earn-out milestone liability (Note 12) $ 12,518,054 $ ─ $ ─ $ 12,518,054 Recurring items as of December 31, 2016 Earn-out milestone liability (Note 1 2) $ 13,188,226 $ $ $ 13,188,226

Note 7 - Acquisition of EGEN As

Note 7 - Acquisition of EGEN Assets	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 7. of EGEN Assets On June 20, 2014, June 6, 2014, The total purchase price for the asset acquisition is up to $44.4 million, including potential future earnout payments of up to $30.4 $3.0 193,728 4 2 47,862 June 16, 2017. The earnout payments of up to $30.4 million will become payable, in cash, shares of our common stock or a combination thereof, at our option upon achievement of three ● $12.4 1 001 ● $12.0 1 ● up to $6.0 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 known as “TheraPlas” and “TheraSilence”. The fair value of the IPR&D drug technology platforms was estimated to be $24.2 not IPR&D is reviewed for impairment at least annually as of our third September 30, of the assets might not At December 31, 2016, one $1.4 $1.4 fourth 2016. At September 30, 2017, may September 30, 2017 $9.4 $6.9 $2.5 third 2017. $13.8 $12.5 $1,246,151 third 2017. none September 30, 2017. Pursuant to the EGEN Purchase Agreement, EGEN provided certain covenants (“Covenant Not seventh June 20, 2014, not Amortization expense was $56,829 and $170,487 three nine September 30, 2017, Not $852,437, $738,777 September 30, 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, 201 7, not not”

Note 8 - Accrued Liabilities

Note 8 - Accrued Liabilities	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 8 . Accrued Liabilities Other accrued liabilities at September 30, 2017 December 31, 2016 September 30, 2017 December 31, 2016 Amounts due to contract research organizations and other contractual agreements $ 907,850 $ 1,115,193 Accrued payroll and related benefits 1,514,253 1,066,751 Accrued professional fees 248,850 259,551 Accrued interest on notes payable – 22,241 Other 20,020 20,020 Total $ 2,690,973 $ 2,483,756

Note 9 - Note Payable

Note 9 - Note Payable	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 9 . Note Payable In November 2013, Technology Growth Capital, Inc. (Hercules) which permits up to $20 first $5 November 2013 $4 June 10, 2014, second $5 $3.0 second $10 The obligations under the Hercules Credit Agreement were 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. $122,378. $230,000. As a fee in connection with the Hercules Credit Agreement, the Company issued Hercules a warrant for a total of 6,963 ’s common stock (the Hercules Warrant) at a per share exercise price of $50.26, November 25, 2013. second June 10, 2014, 6,963 November 25, 2018. November 25, 2013. may 144 first 415 1933 No. 333 193936 September 30, 2014. $476,261 $5.0 3.5% $350,000 The loan balance and end of term charges on the Hercules Credit Agreement was paid in full in June 2017. For the three September 30, 2017 2016, $0 $107,805 $0 $53,220, nine September 30, 2017 2016, $56,386 $409,770 $35,370 $198,806,

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 10 . Stockholders ’ Equity In September 2015, $75 3 2015 No. 333 206789 allows the Company to issue any combination of common stock, preferred stock or warrants to purchase common stock or preferred stock. This shelf registration was declared effective on September 25, 2015. At the 2016 Company in June 2016, 75,000,000 112,500,000 100,000 may 112,600,000 Reverse Stock Split On May 26, 2017, 14 1 May 30, 2017. 14 k and equivalents was consolidated into one May 30, 2017, 15117N503 The reverse stock split was previously approved by the Company ’s stockholders at the 2017 May 16, 2017, ● To increase the market price of the Company ’s common stock making it more attractive to a broader range of institutional and other investors, and ● To provide the Company with additional capital resources and flexibility sufficient to execute its business plans including the establishment of strategic relationships with other companies and to ensure its ability to raise additional capital as necessary. Immediately prior to the reverse stock split, the Company had 56,982,418 4,070,172 ’s common stock. No 2.4 0.2 33.5 2.4 July 6, 2017 On July 6, 2017, ntered into a securities purchase agreement with several investors, pursuant to which the Company agreed to issue and sell, in a registered direct offering, an aggregate of 2,050,000 $2.07 $4,243,500 385,000 9.99% $2.06 $793,100, $0.01 not one six five one $2.07 2,435,000 twelve $4.75 2,435,000 not 9.99% During the third 2017, 385,000 As more fully described in Note 15, October 2017 $16.6 February 14, 2017 On February 14, 2017, February 14, 2017 1,384,704 $3.22 share. In addition, the Company sold Series AA Warrants (the Series AA Warrants) to purchase up to 1,177,790 185,713 $3.22 five $3.08 $0.14 not 9.99% $5.0 February 14, 2017 In connection with the February 14, 2017 S- 1 No. 333 215321 December 23, 2016, No. 1 January 20, 2017, No. 2 February 13, 2017, No. 3 February 13, 2017 No. 4 February 14, 2017 1933, During the first nine 2017, 185,713 first nine 2017, $2.1 638,809 December 2016 fering On December 20, 2016, December 23, 2016, 367,346 Company’s common stock at an offering price of $4.90 $1.8 “December 2016 $6.44 December 2016 December 2016 367,343 six five one December 2016 may June 20, 2017 June 20, 2022. April 5, 2017, 1 December 2016 1 No. 333 217156 April 19, 2017. December 2016 June 2017. The private placement of the December 2016 4 2 Securities Act and Rule 506 June 2016 On June 13, 2016, ering, an aggregate of 165,126 $0.01 $19.04 $6.0 “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 $19.60 630,252 October 31, 2016, 1 1 No. 333 212353 November 16, 2016. June 2016 June 2017. The private placement of the June 2016 e requirements of Section 4 2 506 Reduced Exercise Price of Warrants On February 22, 2013, 2013 95,811 $74.34 January 15, 2014, “2014 64,348 $57.40 June 9, 2017, 2013 2014 June 2016 790,410 2013 2014 June 2016 790,410 $2.70 $2.1 2013 2014 June 2016 The reduced e xercise price of the 2013 2014 June 2016 $0.2 On May 27, 2015 ther things, to issue warrants (the “2015 139,284 $36.40 June 22, 2017 June 26, 2017, 2015 December 2016 2015 June 2016 506,627 $1.65 $0.8 2015 June 2016 The reduced exercise price of the 2015 $0.1 e retained deficit increased the net loss available to common shareholders on the consolidate statement of operations. Controlled Equity Offering On February 1, 2013, ATM Agreement”) with Cantor Fitzgerald & Co., as sales agent (“Cantor”), pursuant to which Celsion may $25.0 3. may 415 1933, February 1, 2013 September 30, 2017, 105,678 $7.6 October 2017 16 not two October 2017 October 31, 2017. The Company is not 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 aggregat e offering price of $25 may 10 3.0% $50,000 On October 2, 2015, 2015 may $7.5 $17.4

Note 11 - Stock-based Compensat

Note 11 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 1 1 . Stock-Based Compensation 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 not r market value of Celsion’s common stock on the date the options are granted. Options granted generally vest over various time frames or upon milestone accomplishments. The Company’s options generally expire ten The Cel sion Corporation 2007 2007 688,531shares In 2007, 2007 2007 15,873 issuance. The purpose of the 2007 2007 June 25, 2010, June 7, 2012, June 20, 2014, May 16, 2017 15,873 31,746 2010, 35,714 67,460 2012, 178,571 246,031 2014 442,500 688,531 2017. Prior to the adoption of the 2007 two one 2001 2004 21,164 2007 2007 A summary of the Company’s stock option and restricted stock awards for the nine September 30, 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 210,023 $ 59.77 4,785 $ 37.42 Equity awards granted 513,464 $ 2.69 (3,357 ) 42.20 Equity awards forfeited, cancelled or expired (43,735 ) $ 164.12 (1,428 ) $ 26.18 Equity awards outstanding at September 30, 2017 679,752 $ 9.94 – $ – 9.40 Aggregate intrinsic value of outstanding awards at September 30, 2017 $ – $ – Equity awards exercisable at September 30, 2017 401,920 $ 13.83 9.13 Aggregate intrinsic value of awards exercisable at September 30, 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 fo r determining the fair value of options granted during the nine September 30, 2017 2016 Nine Months Ended September 30, 2017 2016 Risk-free interest rate 2.21 % 1.55 – 1.87% Expected volatility 90.4 % 87.4 – 89.1% Expected life (in years) 10.00 10.00 Expected forfeiture rate ─ % 10% Expected dividend yield ─ % ─% 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 incorporated exercise, pre-vesting and post-vesting forfeiture assumptions based on analysis of historical data for forfeitures through FY 2016. 2017, 2016 2017 Total compensation cost related to employee stock options and restricted stock awards totaled $ 146,896 $432,573 three September 30, 2017 2016, $951,488 $1,331,094 nine September 30, 2017 2016, No September 30, 2017 2016. As of September 30, 2017, $0.5 1.1 $2.69 16.24 nine September 30, 2017 2016, Collectively, for all of the Company ’s stock option plans there were a total of 29,498 September 30, 2017.

Note 12 - Earn-out Milestone Li

Note 12 - Earn-out Milestone Liability	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Earn-out Milestone Liability Disclosure [Text Block]	Note 1 2 . Earn-out Milestone Liability 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 and the $13.9 June 20, 2014 10% 67% 1.5 2.5 As of September 30, 2017, June 30, 2017 December 31, 2016, $12.5 $13.8 $13.2 $1,246,151 $670,172 three nine September 30, 2017 As of September 30, 2016, June 30, 2016 December 31, 2015, $14.5 $13.8 $13.9 $662,410 $556,382 three nine September 30, 2016, 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 benefit from the adjustment for the change in fair value included in net loss (1,246,151 ) Balance at September 30, 2017 $ 12,518,054 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) September 30, 2017 35% to 80% 9 % 1.25 to 1.75 June 30, 2017 50% to 80% 9 % 1.50 to 2.00 December 31, 2016 50% to 80% 9 % 2.00 to 2.50 September 30, 2016 10% to 75% 9 % 0.50 to 1.75 June 30, 2016 10% to 75% 9 % 0.50 to 2.00 December 31, 2015 10% to 75% 9 % 0.50 to 2.50

Note 13 - Warrants

Note 13 - Warrants	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Warrants [Text Block]	Note 1 3 . Warrants Common Stock Warrants Following is a summary of all warrant activity for the nine September 30, 2017: Warrants Number of Warrants Issued Weighted Average Exercise Price Warrants outstanding at December 31, 2016 1,487,958 $ 9.39 Warrants issued during the nine months ended September 30, 2017 (see Note 10) 6,679,378 3.08 Warrants exercised during the nine months ended September 30, 2017 (see Note 10) (2,638,702 ) 1.92 Warrants outstanding at September 30, 2017 5,528,634 $ 5.33 Aggregate intrinsic value of outstanding warrants at September 30, 2017 ─ Weighted average remaining contractual terms at September 30, 2017 (in years) 3.16

Note 14 - Contingent Liabilitie

Note 14 - Contingent Liabilities and Commitments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 1 4 . Contingent Liabilities and Commitments In July 2011, Lease”) with Brandywine Operating Partnership, L.P. (Brandywine), a Delaware limited partnership for a 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 $18,900 first $20,500 one 24th In connection with the EGEN Asset Purchase agreement in June 2014, 11,500 s located in Huntsville Alabama. This lease has a remaining term of four $23,200

Note 15 - Technology Developmen

Note 15 - Technology Development and Licensing Agreements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Licensing Transaction [Text Block]	No te 1 5 . Technology Development and Licensing Agreements On May 7, 2012 in the China territory. In accordance with the terms of the agreement, Hisun will be responsible for providing all of the technical and regulatory support services, including the costs of all technical transfer, registration and bioequivalence studies, technical transfer costs, Celsion consultative support costs and the purchase of any necessary equipment and additional facility costs necessary to support capacity requirements for the manufacture of ThermoDox®. Celsion will repay Hisun for the aggregate amount of these development costs and fees commencing on the successful completion of three first 2015, three $685,787 March 2015. April 2015. On January 18, 2013, development fee of $5 January 31, 2013 January 18, 2013 $5.0 first 2013 10 On July 19, 2013, as well as the technology transfer relating to the commercial manufacture of ThermoDox® for the China territory. This expanded collaboration includes development of the next generation liposomal formulation with the goal of creating safer, more efficacious versions of marketed cancer chemotherapeutics. 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 for the sale and distribution of ThermoDox® in the China territory. On August 8, 2016, Manufacturing and Commercial Supply Agreement (“GEN- 1 1, 12 1 1 1 first Key provisions of the GEN- 1 ● the GEN- 1 d unit costs for clinical supplies of GEN- 1 ● once approved, the cost structure for GEN- 1 markets; ● 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 Celsion access to accelerated CFDA review and potential regulatory exclusivity for the approved indication.

Note 16 - Subsequent Events

Note 16 - Subsequent Events	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	Note 1 6 . Subsequent Events October 2017 On October 4, 2017, July 6, 2017 (Note 10 not January 11, 2018. 4,665,000 $2.07 $4.75 The Exercise Agreements also provide for the issuance of 1,166,250 one no six six no $6.20. The Series DDD Warrants and the shares of Common Stock issuable upon the exercise of the Series DDD Warrants are not 1933, 4 2 506 In early October 2017, 205,000 108,455 February 14, 2017 10 4,665,000 $20.0 October 2017. October 2017 On October 27, 2017, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Oppenheimer & Co. Inc. (the “Underwriter”), relating to the issuance and sale (the “Offering”) of 2,640,000 $0.01 1,320,000 0.5 one $2.50 Pursuant to the terms of the Underwriting Agreement, the Underwriter has agreed to purchase the Shares and related Investor Warrants from the Company at a price of $2.325 six $3.00 five first The Company received $6.6 October 31, 2017. 3 No. 333 206789 September 4, 2015, September 25, 2015, September 25, 2017 The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act, other obligations of the parties, and termination provisions. The Company also agreed to issue to the Underwriter warrants to purchase up to 66,000 4 2

Note 6 - Fair Value of Measur23

Note 6 - Fair Value of Measurements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2017 Earn-out milestone liability (Note 12) $ 12,518,054 $ ─ $ ─ $ 12,518,054 Recurring items as of December 31, 2016 Earn-out milestone liability (Note 1 2) $ 13,188,226 $ $ $ 13,188,226

Note 7 - Acquisition of EGEN 24

Note 7 - Acquisition of EGEN Assets (Tables)	9 Months Ended
	Sep. 30, 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 8 - Accrued Liabilities (T

Note 8 - Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, 2017 December 31, 2016 Amounts due to contract research organizations and other contractual agreements $ 907,850 $ 1,115,193 Accrued payroll and related benefits 1,514,253 1,066,751 Accrued professional fees 248,850 259,551 Accrued interest on notes payable – 22,241 Other 20,020 20,020 Total $ 2,690,973 $ 2,483,756

Note 11 - Stock-based Compens26

Note 11 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 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 210,023 $ 59.77 4,785 $ 37.42 Equity awards granted 513,464 $ 2.69 (3,357 ) 42.20 Equity awards forfeited, cancelled or expired (43,735 ) $ 164.12 (1,428 ) $ 26.18 Equity awards outstanding at September 30, 2017 679,752 $ 9.94 – $ – 9.40 Aggregate intrinsic value of outstanding awards at September 30, 2017 $ – $ – Equity awards exercisable at September 30, 2017 401,920 $ 13.83 9.13 Aggregate intrinsic value of awards exercisable at September 30, 2017 $ –
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Nine Months Ended September 30, 2017 2016 Risk-free interest rate 2.21 % 1.55 – 1.87% Expected volatility 90.4 % 87.4 – 89.1% Expected life (in years) 10.00 10.00 Expected forfeiture rate ─ % 10% Expected dividend yield ─ % ─%

Note 12 - Earn-out Milestone 27

Note 12 - Earn-out Milestone Liability (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Changes in Earn out Milestone Liabilities [Table Text Block]	Balance at January 1, 2017 $ 13,188,226 Non-cash benefit from the adjustment for the change in fair value included in net loss (1,246,151 ) Balance at September 30, 2017 $ 12,518,054
Schedule of Milestone Risk Adjustment Assessment [Table Text Block]	Date Risk-adjustment Assessment of each Milestone Discount Rate Estimated Time to Achieve (years) September 30, 2017 35% to 80% 9 % 1.25 to 1.75 June 30, 2017 50% to 80% 9 % 1.50 to 2.00 December 31, 2016 50% to 80% 9 % 2.00 to 2.50 September 30, 2016 10% to 75% 9 % 0.50 to 1.75 June 30, 2016 10% to 75% 9 % 0.50 to 2.00 December 31, 2015 10% to 75% 9 % 0.50 to 2.50

Note 13 - Warrants (Tables)

Note 13 - Warrants (Tables)	9 Months Ended
	Sep. 30, 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 1,487,958 $ 9.39 Warrants issued during the nine months ended September 30, 2017 (see Note 10) 6,679,378 3.08 Warrants exercised during the nine months ended September 30, 2017 (see Note 10) (2,638,702 ) 1.92 Warrants outstanding at September 30, 2017 5,528,634 $ 5.33 Aggregate intrinsic value of outstanding warrants at September 30, 2017 ─ Weighted average remaining contractual terms at September 30, 2017 (in years) 3.16

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Details Textual)	May 26, 2017
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	14

Note 3 - Financial Condition 30

Note 3 - Financial Condition and Business Plan (Details Textual) - USD ($)	Oct. 27, 2017	Oct. 04, 2017	Oct. 02, 2015	Oct. 31, 2017	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2017	Jun. 26, 2017	Jun. 09, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Retained Earnings (Accumulated Deficit)					$ (257,101,046)	$ (257,101,046)	$ (257,101,046)			$ (241,379,712)
Cash and Cash Equivalents, at Carrying Value					$ 2,685,010	$ 2,685,010	$ 2,685,010			$ 2,624,162	$ 4,184,222	$ 9,265,144
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 5.33	$ 5.33	$ 5.33	$ 1.65	$ 2.70	$ 9.39
Class of Warrant or Right, Issued During Period					6,679,378
Proceeds from Warrant Exercises						$ 800,000	$ 2,100,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights								506,627	790,410
Aggregate Offering Price, Additions			$ 7,500,000
Subsequent Event [Member]
Proceeds from Issuance of Common Stock and Warrant Exercises				$ 23,600,000
Subsequent Event [Member] | October 2017 Exercise Agreements [Member]
Stock Issued During Period, Shares, Additional Exercise of Warrants		300,000
Proceeds from Warrant Exercises		$ 17,000,000
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series AAA and Series BBB Warrants [Member]
Class of Warrant or Right, Exercised During Period		4,665,000
Proceeds from Warrant Exercises		$ 20,000,000
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series AAA Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 2.07
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series BBB Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		4.75
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series DDD Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 6.20
Class of Warrant or Right, Issued During Period		1,166,250
Subsequent Event [Member] | October 2017 Undwriting Offering [Member]
Stock Issued During Period, Shares, New Issues	2,640,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,300,000
Proceeds from Issuance of Common Stock and Warrants	$ 6,600,000

Note 5 - Net Loss Per Common 31

Note 5 - Net Loss Per Common Share (Details Textual) - shares	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Number of Shares of Common Stock Issuable Upon Exercise of Warrants and Equity Awards	6,208,386	1,353,312

Note 6 - Fair Value of Measur32

Note 6 - Fair Value of Measurements (Details Textual) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3	$ 0

Note 6 - Fair Value of Measur33

Note 6 - Fair Value of Measurements - Assets and Liabilities at Fair Value on a Recurring Basis (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Earn-out milestone liability	$ 12,518,054	$ 13,188,226
Fair Value, Measurements, Recurring [Member]
Short-term investments, fair value		1,680,000
Earn-out milestone liability	12,518,054	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	$ 12,518,054	$ 13,188,226

Note 7 - Acquisition of EGEN 34

Note 7 - Acquisition of EGEN Assets (Details Textual) - USD ($)	Jun. 16, 2017	Jun. 20, 2014	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Jun. 30, 2017
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 2,520,000		$ 2,520,000
Gain (Loss) from Change in Fair Value of Earn out Milestone Liability					(1,246,151)
Finite-Lived Intangible Assets, Net			852,437		852,437		$ 1,022,924
Noncompete Agreements [Member]
Amortization of Intangible Assets			56,829		170,487
Finite-Lived Intangible Assets, Net			852,437		852,437		1,022,924
Finite-Lived Intangible Assets, Accumulated Amortization			738,777		738,777		$ 568,290
EGEN Inc [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 30,400,000	30,400,000		30,400,000
Payments to Acquire Businesses, Gross		$ 3,000,000
Stock Issued During Period, Shares, Acquisitions		193,728
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	47,862
Gain (Loss) from Change in Fair Value of Earn out Milestone Liability			1,246,151	$ 662,410	670,172	$ 556,382
Goodwill, Acquired During Period		$ 2,000,000
EGEN Inc [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life							7 years
EGEN Inc [Member] | Indefinite-lived in Process Research and Development [Member]
Indefinite-lived Intangible Assets Acquired		24,200,000	6,900,000		9,400,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)							$ 1,400,000
Asset Impairment Charges			2,500,000
Business Combination, Contingent Consideration, Liability			12,500,000		12,500,000			$ 13,800,000
EGEN Inc [Member] | Ovarian Cancer Study Milestone [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			12,400,000		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		12,000,000
EGEN Inc [Member] | TheraSilence Technology Milestone [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			$ 6,000,000		$ 6,000,000
EGEN Inc [Member] | Maximum [Member]
Business Combination, Consideration Transferred		$ 44,400,000

Note 7 - Acquisition of EGEN 35

Note 7 - Acquisition of EGEN Assets - Summary of Estimated Fair Values of Acquired Assets and Liabilities (Details) - USD ($)	Sep. 30, 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 8 - Accrued Liabilities -

Note 8 - Accrued Liabilities - Other Accrued Liabilities (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Amounts due to contract research organizations and other contractual agreements	$ 907,850	$ 1,115,193
Accrued payroll and related benefits	1,514,253	1,066,751
Accrued professional fees	248,850	259,551
Accrued interest on notes payable		22,241
Other	20,020	20,020
Total	$ 2,690,973	$ 2,483,756

Note 9 - Note Payable (Details

Note 9 - Note Payable (Details Textual) - USD ($)	Jun. 20, 2014	Jun. 10, 2014	Nov. 30, 2013	Sep. 30, 2017	Sep. 30, 2016	Jun. 10, 2014	Sep. 30, 2017	Sep. 30, 2016	May 31, 2017	Dec. 17, 2015	Sep. 30, 2017	Jun. 26, 2017	Jun. 09, 2017	Dec. 31, 2016	Jun. 30, 2015	Nov. 25, 2013
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 5.33			$ 5.33				$ 5.33	$ 1.65	$ 2.70	$ 9.39
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				$ 0	$ 107,805		$ 56,386	$ 409,770
Amortization of Debt Issuance Costs				0	$ 53,220		35,370	$ 198,806
Hercules Credit Agreement [Member] | Hercules Warrant [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights																$ 50.26
Line of Credit Facility Original Loan Fee Percent															3.50%
Debt Issuance Costs, Gross															$ 350,000
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									11.50%	11.25%
Amortization Period for Principal and Interest											2 years 180 days
Debt Issuance Costs, Net				$ 122,378			$ 122,378				$ 122,378
Debt Instrument, Unamortized Discount			$ 230,000
Hercules [Member] | Hercules Credit Agreement [Member] | First Fifty Percent [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right																6,963
Hercules [Member] | Hercules Credit Agreement [Member] | Second Fifty Percent [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right																6,963

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Details Textual)	Oct. 04, 2017USD ($)	Jul. 06, 2017USD ($)$ / sharesshares	Jun. 26, 2017USD ($)$ / sharesshares	Jun. 09, 2017USD ($)$ / sharesshares	May 26, 2017	Feb. 14, 2017USD ($)$ / sharesshares	Dec. 20, 2016USD ($)$ / sharesshares	Jun. 13, 2016USD ($)$ / sharesshares	Oct. 02, 2015USD ($)	Feb. 01, 2013USD ($)	Sep. 30, 2015USD ($)	Feb. 25, 2013USD ($)	Jun. 30, 2017USD ($)shares	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2017USD ($)$ / sharesshares	May 16, 2017shares	May 15, 2017shares	Dec. 31, 2016$ / sharesshares	Jun. 30, 2016shares	May 31, 2016shares	May 27, 2015$ / sharesshares	Jan. 15, 2014$ / sharesshares	Feb. 22, 2013$ / sharesshares
Shelf Registration Statement Amount | $											$ 75,000,000
Common Stock, Shares Authorized														112,500,000	112,500,000	112,500,000	112,500,000			112,500,000	112,500,000	75,000,000
Preferred Stock, Shares Authorized														100,000	100,000	100,000	100,000			100,000	100,000
Aggregate of Common and Preferred Stock, Shares Authorized																					112,600,000
Common Stock, Shares, Outstanding														8,354,679	8,354,679	8,354,679	8,354,679	4,070,172	56,982,418	2,230,118
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number														679,752	679,752	679,752	679,752	200,000	2,400,000	210,023
Class of Warrant or Right, Outstanding														5,528,634	5,528,634	5,528,634	5,528,634	2,400,000	33,500,000	1,487,958
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			506,627	790,410
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares			$ 1.65	$ 2.70										$ 5.33	$ 5.33	$ 5.33	$ 5.33			$ 9.39
Proceeds from Warrant Exercises | $															$ 800,000	$ 2,100,000
Common Stock, Par or Stated Value Per Share | $ / shares														$ 0.01	$ 0.01	$ 0.01	$ 0.01			$ 0.01
Aggregate Offering Price, Additions | $									$ 7,500,000
2013 Warrants, 2014 Warrants, and June 2016 Warrants [Member]
Increase (Decrease) in Fair Value of Warrants | $				$ 200,000
2015 Warrants [Member]
Increase (Decrease) in Fair Value of Warrants | $			$ 100,000
July 2017 Direct Offering [Member]
Stock Issued During Period, Shares, New Issues		2,050,000
Share Price | $ / shares		$ 2.07
Proceeds from Issuance of Common Stock, Gross | $		$ 4,243,500
July 2017 Direct Offering [Member] | Pre-Funded Series CCC Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		385,000
Beneficial Ownership Percentage Threshold		9.99%
Class of Warrant or Right, Offered Price of Warrants or Rights | $ / shares		$ 2.06
Proceeds from Issuance of Warrants | $		$ 793,100
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 0.01
Class of Warrant or Right, Exercised During Period														385,000
July 2017 Direct Offering [Member] | Series AAA Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		2,435,000
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 2.07
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		1
Class of Warrant or Right, Exercisable Period		180 days
Warrants Issued, Expiration Period		5 years 182 days
July 2017 Direct Offering [Member] | Series BBB Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		2,435,000
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 4.75
Warrants Issued, Expiration Period		1 year
July 2017 Direct Offering [Member] | Series AAA and Series BBB Warrants [Member] | Subsequent Event [Member]
Proceeds from Issuance of Warrants | $	$ 16.60
February 14, 2017 Public Offering [Member]
Stock Issued During Period, Shares, New Issues						1,384,704
Shares Issued, Price Per Share | $ / shares						$ 3.22
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						1,177,790
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 3.22
Class of Warrant or Right, Term						5 years
Stock Issued During Period, Shares, Exercise of Warrants													638,809
Proceeds from Warrant Exercises | $													$ 2,100,000
February 14, 2017 Public Offering [Member] | Pre-Funded Series BB Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						185,713
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 0.14
Shares Issued, Price Per Share | $ / shares						$ 3.08
Stock Issued During Period, Shares, Exercise of Warrants														185,713
December 2016 Common Stock Offering [Member]
Stock Issued During Period, Shares, New Issues							367,346
Share Price | $ / shares							$ 4.90
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							367,343
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares							$ 6.44
Warrants Issued, Expiration Period							5 years 182 days
Proceeds from Issuance of Common Stock | $							$ 1,800,000
Warrants Exercisable Period							180 days
June 2016 Common Stock Offering [Member]
Stock Issued During Period, Shares, New Issues								165,126
Share Price | $ / shares								$ 19.04
Class of Warrant or Right, Number of Securities Called by Warrants or Rights								630,252
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares								$ 19.60
Proceeds from Issuance of Common Stock | $								$ 6,000,000
Common Stock, Par or Stated Value Per Share | $ / shares								$ 0.01
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 Issued, Expiration Period								5 years 182 days
Warrants Exercisable Period								180 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 Issued, Expiration Period								1 year
Warrants Exercisable Period								180 days
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 Issued, Expiration Period								5 years 182 days
Warrants Exercisable Period								180 days
February 2013 Preferred Stock Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																									95,811
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares																									$ 74.34
January 2014 Common Stock Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																								64,348
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares																								$ 57.40
May 2015 Common Stock Offering [Member] | 2015 Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																							139,284
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares																							$ 36.40
ATM Agreement [Member]
Stock Issued During Period, Shares, New Issues																	105,678
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
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio					14

Note 11 - Stock-based Compens39

Note 11 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2014	Dec. 31, 2012	Dec. 31, 2010	Dec. 31, 2007	Dec. 31, 2006
Stock Incentive Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	688,531		688,531		246,031	67,460	31,746	15,873	21,164
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized			442,500		178,571	35,714	15,873
Allocated Share-based Compensation Expense	$ 146,896	$ 432,573	$ 951,488	$ 1,331,094
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount				$ 0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 500,000		$ 500,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			1 year 36 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 2.69	$ 16.24
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	29,498		29,498

Note 11 - Stock-based Compens40

Note 11 - Stock-based Compensation - Stock Option and Restricted Stock (Details)	9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Equity awards outstanding, options (in shares) | shares	210,023
Equity awards outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 59.77
Equity awards granted, options (in shares) | shares	513,464
Equity awards granted, weighted average exercise price (in dollars per share) | $ / shares	$ 2.69
Equity awards forfeited, cancelled or expired, options (in shares) | shares	(43,735)
Equity awards forfeited, cancelled or expired, weighted average exercise price (in dollars per share) | $ / shares	$ 164.12
Equity awards outstanding, options (in shares) | shares	679,752
Equity awards outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 9.94
Equity awards outstanding, contractual term (Year)	9 years 146 days
Equity awards exercisable, options (in shares) | shares	401,920
Equity awards exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 13.83
Equity awards exercisable, contractual term (Year)	9 years 47 days
Aggregate intrinsic value of awards exercisable, options | $
Restricted Stock [Member]
Equity awards outstanding, non-vested restricted stock (in shares) | shares	4,785
Equity awards outstanding, non-vested restricted stock weighted average grant date fair value (in dollars per share) | $ / shares	$ 37.42
Equity awards granted, non-vested restricted stock (in shares) | shares	(3,357)
Equity awards granted, non-vested restricted stock weighted average grant date fair value (in dollars per share) | $ / shares	$ 42.20
Equity awards forfeited, cancelled or expired, non-vested restricted stock (in shares) | shares	(1,428)
Equity awards forfeited, cancelled or expired, non-vested restricted stock weighted average grant date fair value (in dollars per share) | $ / shares	$ 26.18
Equity awards outstanding, non-vested restricted stock (in shares) | shares
Equity awards outstanding, non-vested restricted stock weighted average grant date fair value (in dollars per share) | $ / shares
Aggregate intrinsic value of outstanding awards, non-vested restricted stock | $

Note 11 - Stock-based Compens41

Note 11 - Stock-based Compensation - Fair Value of Option Assumptions (Details) - Employee Stock Option [Member]	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Risk-free interest rate	2.21%
Expected volatility	90.40%
Expected life (Year)	10 years
Expected forfeiture rate		10.00%
Expected dividend yield
Minimum [Member]
Risk-free interest rate		1.55%
Expected volatility		87.40%
Maximum [Member]
Risk-free interest rate		1.87%
Expected volatility		89.10%
Expected life (Year)		10 years

Note 12 - Earn-out Milestone 42

Note 12 - Earn-out Milestone Liability (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 20, 2014	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Gain (Loss) from Change in Fair Value of Earn out Milestone Liability						$ (1,246,151)
Minimum [Member]
Risk Adjusted Assessment of Each Milestone		35.00%	10.00%	50.00%	10.00%	35.00%	10.00%	50.00%	10.00%
Estimated Time to Achieve the Milestone				1 year 182 days	182 days	1 year 91 days	182 days	2 years	182 days
Maximum [Member]
Risk Adjusted Assessment of Each Milestone		80.00%	75.00%	80.00%	75.00%	80.00%	75.00%	80.00%	75.00%
Estimated Time to Achieve the Milestone				2 years	2 years	1 year 273 days	1 year 273 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				$ 30,400,000
Business Combination, Consideration Transferred, Liabilities Incurred	$ 13,900,000			$ 13,800,000	$ 13,800,000	12,500,000	$ 14,500,000	$ 13,200,000	$ 13,900,000
Gain (Loss) from Change in Fair Value of Earn out Milestone Liability		$ 1,246,151	$ 662,410			$ 670,172	$ 556,382
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 12 - Earn-out Milestone 43

Note 12 - Earn-out Milestone Liability - Summary of the Changes in the Earn-out Milestone Liability (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Balance	$ 13,188,226
Non-cash benefit from the adjustment for the change in fair value included in net loss	(1,246,151)
Balance	$ 12,518,054

Note 12 - Earn-out Milestone 44

Note 12 - Earn-out Milestone Liability - Schedule of Milestone Risk-adjustment Assessment (Details)	6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Discount rate	9.00%	9.00%	9.00%	9.00%	9.00%	9.00%
Minimum [Member]
Risk-adjustment assessment	50.00%	10.00%	35.00%	10.00%	50.00%	10.00%
Estimated time to achieve (Year)	1 year 182 days	182 days	1 year 91 days	182 days	2 years	182 days
Maximum [Member]
Risk-adjustment assessment	80.00%	75.00%	80.00%	75.00%	80.00%	75.00%
Estimated time to achieve (Year)	2 years	2 years	1 year 273 days	1 year 273 days	2 years 182 days	2 years 182 days

Note 13 - Warrants - Summary of

Note 13 - Warrants - Summary of Warrant Activity (Details)	9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Warrants outstanding (in shares) | shares	1,487,958
Warrants outstanding (in dollars per share) | $ / shares	$ 9.39
Warrants issued during the nine months ended September 30, 2017 (see Note 10) (in shares) | shares	6,679,378
Warrants issued during the nine months ended September 30, 2017 (see Note 10) (in dollars per share) | $ / shares	$ 3.08
Warrants exercised during the nine months ended September 30, 2017 (see Note 10) (in shares) | shares	(2,638,702)
Warrants exercised during the nine months ended September 30, 2017 (see Note 10) (in dollars per share) | $ / shares	$ 1.92
Warrants outstanding (in shares) | shares	5,528,634
Warrants outstanding (in dollars per share) | $ / shares	$ 5.33
Aggregate intrinsic value of outstanding warrants | $
Weighted average remaining contractual terms (Year)	3 years 58 days

Note 14 - Contingent Liabilit46

Note 14 - Contingent Liabilities and Commitments (Details Textual)	1 Months Ended
	Apr. 30, 2017USD ($)ft²	Jun. 30, 2014USD ($)ft²	Apr. 30, 2013USD ($)	Apr. 30, 2012USD ($)	Jul. 31, 2011ft²	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Contractual Obligation						$ 907,850	$ 1,115,193
Standby Letters of Credit [Member]
Contractual Obligation Reduction Nineteen Months from Initial Term				$ 50,000
Contractual Obligation Remaining				100,000
Lawrenceville New Jersey [Member]
Area of Real Estate Property | ft²	7,565	11,500			10,870
Lessee, Operating Lease, Term of Contract					5 years 180 days
Number of Months in Which Free Rent Is Provided	120 days				180 days
Payments for Rent				23,000
Reduction of Escrow Deposit			$ 50,000
Lessee, Operating Lease, Additional Term of Contract	5 years 120 days
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		120 days
Operating Leases, Monthly Rent Payment		$ 23,200

Note 15 - Technology Developm47

Note 15 - Technology Development and Licensing Agreements (Details Textual) - USD ($)	Jan. 18, 2013	Mar. 31, 2013	Sep. 30, 2017	Dec. 31, 2016	Mar. 31, 2015
Contractual Obligation			$ 907,850	$ 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

Note 16 - Subsequent Events (De

Note 16 - Subsequent Events (Details Textual) - USD ($)	Oct. 27, 2017	Oct. 04, 2017	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2017	Jun. 26, 2017	Jun. 09, 2017	Dec. 31, 2016
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 5.33	$ 5.33	$ 5.33	$ 1.65	$ 2.70	$ 9.39
Class of Warrant or Right, Issued During Period			6,679,378
Proceeds from Warrant Exercises				$ 800,000	$ 2,100,000
Common Stock, Par or Stated Value Per Share			$ 0.01	$ 0.01	$ 0.01			$ 0.01
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						506,627	790,410
Subsequent Event [Member] | October 2017 Exercise Agreements [Member]
Proceeds from Warrant Exercises		$ 17,000,000
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series AAA and Series BBB Warrants [Member]
Class of Warrant or Right, Exercised During Period		4,665,000
Proceeds from Warrant Exercises		$ 20,000,000
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series AAA Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 2.07
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series BBB Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 4.75
Stock Issued During Period, Shares, Exercise of Warrants		205,000
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series DDD Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 6.20
Class of Warrant or Right, Issued During Period		1,166,250
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		1
Class of Warrant or Right, Exercisable Period		180 days
Warrants Issued, Expiration Period		180 days
Subsequent Event [Member] | October 2017 Exercise Agreements [Member] | Series AA Warrant [Member]
Stock Issued During Period, Shares, Exercise of Warrants		108,455
Subsequent Event [Member] | October 2017 Undwriting Offering [Member]
Stock Issued During Period, Shares, New Issues	2,640,000
Common Stock, Par or Stated Value Per Share	$ 0.01
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,300,000
Shares Issued, Price Per Share	$ 2.325
Proceeds from Issuance of Common Stock and Warrants	$ 6,600,000
Subsequent Event [Member] | October 2017 Undwriting Offering [Member] | Investor Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 3
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1
Class of Warrant or Right, Exercisable Period	180 days
Warrants Issued, Expiration Period	5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,320,000
Number of Warrants Sold with Each Share of Common Stock	0.5
Class of Warrant or Right, Offered Price of Warrants or Rights	$ 2.50
Subsequent Event [Member] | October 2017 Undwriting Offering [Member] | Investor Warrants [Member] | Underwriter [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	66,000