Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 01, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | NAVIDEA BIOPHARMACEUTICALS, INC. | |
Entity Central Index Key | 810,509 | |
Trading Symbol | navb | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 181,890,700 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 5,707,465 | $ 2,795,006 |
Available-for-sale securities | 798,948 | 1,797,604 |
Accounts and other receivables | 86,928 | 8,137,872 |
Prepaid expenses and other | 547,027 | 1,101,923 |
Total current assets | 7,140,368 | 13,832,405 |
Property and equipment | 1,224,310 | 1,206,058 |
Less accumulated depreciation and amortization | 1,059,132 | 969,357 |
Property and equipment, net | 165,178 | 236,701 |
Patents, trademarks and license agreements | 480,404 | 480,404 |
Less accumulated amortization | 44,496 | 22,248 |
Patents, trademarks and license agreements, net | 435,908 | 458,156 |
Guaranteed earnout receivable | 4,809,376 | |
Other assets | 1,367,588 | 1,444,798 |
Total assets | 9,109,042 | 20,781,436 |
Current liabilities: | ||
Accounts payable | 615,524 | 855,043 |
Accrued liabilities and other | 2,950,140 | 1,857,848 |
Notes payable | 2,164,330 | 2,353,639 |
Terminated lease liability, current | 116,901 | 107,215 |
Accrued loss for CRG litigation | 2,887,566 | |
Liabilities associated with discontinued operations, current | 7,092 | |
Total current liabilities | 5,846,895 | 8,068,403 |
Terminated lease liability | 487,501 | 588,092 |
Deferred revenue | 700,000 | 11,024 |
Other liabilities | 64,583 | 65,587 |
Total liabilities | 7,098,979 | 8,733,106 |
Commitments and contingencies (Note 11) | ||
Stockholders’ equity: | ||
Preferred stock; $.001 par value; 5,000,000 shares authorized; no shares issued or outstanding at September 30, 2018 and December 31, 2017 | ||
Common stock; $.001 par value; 300,000,000 shares authorized; 181,890,700 and 162,206,646 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively | 181,891 | 162,207 |
Additional paid-in capital | 334,723,420 | 331,128,787 |
Accumulated deficit | (333,562,563) | (319,908,968) |
Accumulated other comprehensive loss | (1,052) | (2,396) |
Total Navidea stockholders' equity | 1,341,696 | 11,379,630 |
Noncontrolling interest | 668,367 | 668,700 |
Total stockholders’ equity | 2,010,063 | 12,048,330 |
Total liabilities and stockholders’ equity | $ 9,109,042 | $ 20,781,436 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 181,890,700 | 162,206,646 |
Common stock, shares outstanding (in shares) | 181,890,700 | 162,206,646 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||||
Revenue: | |||||||
Revenue from contract with customer | $ 22,000 | $ 287,000 | |||||
Grant and other revenue | 209,146 | $ 223,669 | 762,549 | $ 1,315,298 | |||
Revenue | 231,458 | 223,669 | 1,050,030 | 1,415,298 | |||
Cost of revenue | 38,101 | 73,811 | |||||
Gross profit | 193,357 | 223,669 | 976,219 | 1,415,298 | |||
Operating expenses: | |||||||
Research and development expenses | 1,225,770 | 874,547 | 3,367,444 | 2,765,695 | |||
Selling, general and administrative | 2,688,703 | 1,734,707 | 6,254,474 | 9,006,725 | |||
Total operating expenses | 3,914,473 | 2,609,254 | 9,621,918 | 11,772,420 | |||
Loss from operations | (3,721,116) | [1] | (2,385,585) | (8,645,699) | [1] | (10,357,122) | [1] |
Other (expense) income: | |||||||
Interest (expense) income, net | (28,074) | 76,050 | (20,234) | 144,811 | |||
Change in fair value of financial instruments | 153,357 | ||||||
Loss on extinguishment of debt | (4,265,434) | (1,314,102) | |||||
Other, net | 3,540 | (6,979) | 1,654 | (45,256) | |||
Total other (expense) income, net | (24,534) | [2] | 69,071 | (4,284,014) | [2] | (1,061,190) | [2] |
Loss before income taxes | (3,745,650) | (2,316,514) | (12,929,713) | (11,418,312) | |||
Income tax expense | (76,259) | 775,750 | (65,330) | 3,861,156 | |||
Loss from continuing operations | (3,821,909) | (1,540,764) | (12,995,043) | (7,557,156) | |||
Discontinued operations, net of tax effect: | |||||||
(Loss) income from discontinued operations | 5,399 | (1,938) | (332,838) | ||||
Gain on sale | 145,877 | 43,053 | 86,894,000 | ||||
Net (loss) income | (3,821,909) | (1,389,488) | (12,953,928) | 79,004,006 | |||
Less loss attributable to noncontrolling interest | (308) | (23) | (333) | (192) | |||
Net (loss) income attributable to common stockholders | $ (3,821,601) | $ (1,389,465) | $ (12,953,595) | $ 79,004,198 | |||
(Loss) income per common share (basic): | |||||||
Continuing operations (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.08) | $ (0.05) | |||
Discontinued operations (in dollars per share) | 0.54 | ||||||
Attributable to common stockholders (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.08) | $ 0.49 | |||
Weighted average shares outstanding (basic) (in shares) | 166,855,420 | 162,006,646 | 163,963,940 | 161,437,276 | |||
(Loss) income per common share (diluted): | |||||||
Continuing operations (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.08) | $ (0.05) | |||
Discontinued operations (in dollars per share) | 0.52 | ||||||
Attributable to common stockholders (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.08) | $ 0.47 | |||
Weighted average shares outstanding (diluted) (in shares) | 166,855,420 | 162,006,646 | 163,963,940 | 165,914,473 | |||
Royalty [Member] | |||||||
Revenue: | |||||||
Revenue from contract with customer | $ 2,382 | $ 9,842 | |||||
License [Member] | |||||||
Revenue: | |||||||
Revenue from contract with customer | $ 19,930 | $ 277,639 | $ 100,000 | ||||
[1] | Income (loss) from operations does not reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments, other than those expenses directly incurred by MT. | ||||||
[2] | Amounts consist primarily of losses on debt extinguishment and changes in fair value of financial instruments, which are not currently allocated to our individual reportable segments. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net (loss) income | $ (3,821,909) | $ (1,389,488) | $ (12,953,928) | $ 79,004,006 |
Unrealized gain (loss) on available-for-sale securities | 1,012 | (172) | 1,344 | (1,200) |
Comprehensive (loss) income | $ (3,820,897) | $ (1,389,660) | $ (12,952,584) | $ 79,002,806 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($) | Private Placement [Member]Common Stock [Member] | Private Placement [Member]Additional Paid-in Capital [Member] | Private Placement [Member]Retained Earnings [Member] | Private Placement [Member]AOCI Attributable to Parent [Member] | Private Placement [Member]Noncontrolling Interest [Member] | Private Placement [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 162,206,646 | |||||||||||
Balance at Dec. 31, 2017 | $ 162,207 | $ 331,128,787 | $ (319,908,968) | $ (2,396) | $ 668,700 | $ 12,048,330 | ||||||
Impact of adoption of ASC Topic 606 at Dec. 31, 2017 | (700,000) | (700,000) | ||||||||||
Issued stock in payment of employee bonuses (in shares) | 1,118,760 | |||||||||||
Issued stock in payment of employee bonuses | $ 1,118 | 315,784 | 316,902 | |||||||||
Issued restricted stock (in shares) | 200,000 | |||||||||||
Issued restricted stock | $ 200 | 200 | ||||||||||
Cancelled forfeited restricted stock (in shares) | (50,000) | |||||||||||
Cancelled forfeited restricted stock | $ (50) | 50 | ||||||||||
Issued stock to 401(k) plan (in shares) | 94,684 | 94,684 | ||||||||||
Issued stock to 401(k) plan | $ 95 | 35,885 | $ 35,980 | |||||||||
Issued stock pursuant to private placement (in shares) | 18,320,610 | 18,320,610 | ||||||||||
Issued stock pursuant to private placement | $ 18,321 | $ 2,981,679 | $ 3,000,000 | |||||||||
Stock compensation expense | 261,235 | 261,235 | ||||||||||
Net loss | (12,953,595) | (333) | (12,953,928) | |||||||||
Unrealized gain on available-for-sale securities | 1,344 | 1,344 | ||||||||||
Total comprehensive loss | (12,952,584) | |||||||||||
Balance (in shares) at Sep. 30, 2018 | 181,890,700 | |||||||||||
Balance at Sep. 30, 2018 | $ 181,891 | $ 334,723,420 | $ (333,562,563) | $ (1,052) | $ 668,367 | $ 2,010,063 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net (loss) income | $ (12,953,928) | $ 79,004,006 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation and amortization | 113,088 | 212,077 |
Loss on disposal and abandonment of assets | 806,710 | |
Compounded interest on long term debt | 128,902 | 211,443 |
Stock compensation expense | 261,235 | 319,807 |
Change in fair value of financial instruments | (153,357) | |
Loss on extinguishment of debt | 4,265,434 | 1,314,102 |
Issued warrants in connection with Asset Sale | 3,337,187 | |
Value of stock issued to directors | 10,500 | |
Value of stock issued to employees | 316,902 | 369,342 |
Value of stock issued to 401(k) plan for employer matching contributions | 35,980 | 53,707 |
Changes in operating assets and liabilities: | ||
Accounts and other receivables | 12,860,320 | (12,686,071) |
Inventory | 1,470,826 | |
Prepaid expenses and other assets | 632,106 | 495,434 |
Accounts payable | (239,519) | (5,897,416) |
Accrued and other liabilities | 992,304 | (5,507,487) |
Deferred revenue | (10,037) | (2,315,037) |
Net cash provided by operating activities | 6,402,787 | 61,045,773 |
Cash flows from investing activities: | ||
Purchases of available-for-sale securities | (200,000) | (2,200,000) |
Proceeds from sales of available-for-sale securities | 200,000 | |
Maturities of available-for-sale securities | 1,000,000 | 200,000 |
Purchases of equipment | (19,317) | (31,417) |
Net cash provided by (used in) investing activities | 980,683 | (2,031,417) |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock | 3,000,200 | 54,319 |
Payment of debt-related costs | (7,153,000) | (1,314,102) |
Principal payments on notes payable | (318,211) | (59,675,502) |
Net cash used in financing activities | (4,471,011) | (60,935,285) |
Net increase (decrease) in cash and cash equivalents | 2,912,459 | (1,920,929) |
Cash and cash equivalents, beginning of period | 2,795,006 | 6,540,578 |
Cash and cash equivalents, end of period | $ 5,707,465 | $ 4,619,649 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies a. Basis of Presentation: September 30, 2018 three nine September 30, 2018 2017 September 30, 2018 not December 31, 2017, 10 In March 2017, 414, 414” ® 3. 414, Tc99m Our consolidated financial statements include the accounts of Navidea and our wholly-owned subsidiaries, Navidea Biopharmaceuticals Limited and Cardiosonix Ltd, as well as those of our majority-owned subsidiary, Macrophage Therapeutics, Inc. (“MT”). All significant inter-company accounts were eliminated in consolidation. Cardiosonix was legally dissolved in September 2017. Our consolidated balance sheets and statements of operations have been reclassified, as required, for all periods presented to reflect the Business as a discontinued operation. Cash flows associated with the operation of the Business have been combined with operating, investing and financing cash flows, as appropriate, in our consolidated statements of cash flows. See Note 3. Certain prior period amounts also have been reclassified to conform to the current year’s presentation, including the adoption of Accounting Standards Update (“ASU”) No. 2014 09, Revenue from Contracts with Customers , b. Financial Instruments and Fair Value: ( 1 Cash, available-for-sale securities, accounts and other receivables, and accounts payable: September 30, 2018 December 31, 2017, $96,000 2016. ( 2 Notes payable: September 30, 2018 December 31, 2017 September 30, 2018, $2.2 $2.2 December 31, 2017, $2.4 $2.4 9. ( 3 Derivative liabilities: $63,000 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 5. ( 4 Warrants: March 2017, 414 five 10 1 $1.50 414 $3.3 nine September 30, 2017. $334,000, 13. c. Recently Adopted Accounting Standards: May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 2014 09 five may 2014 09, 606 2014 09, 2016 08, 2016 10, 2016 12 2016 20, January 1, 2018, 2014 09 $700,000 4. In November 2016, No. 2016 18, Statement of Cash Flows – Restricted Cash 2016 18 2016 18 December 15, 2017, 2016 18 2016 18 January 1, 2018. 2016 18 $5.0 nine September 30, 2017. In March 2018, No. 2018 05, Income Taxes (Topic 740 – Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 2018 05 740 No. 118. 2018 05 740 2018 05 March 2018 not d . Recent ly Issued A ccounting Standards: February 2016, No. 2016 02, Leases (Topic 842 2016 02 842 2016 02 December 15, 2018, 2016 02, fourth 2018. 2016 02 $300,000 In June 2018, No. 2018 07, Compensation—Stock Compensation (Topic 718 2018 07 718 718 2018 07 718 718 not 1 2 606, Revenue from Contracts with Customers 2018 07 December 15, 2018, 2018 07 not In July 2018, No. 2018 09, Codification Improvements 2018 09 2018 09 December 15, 2018 2018 09 not Also in July 2018, No. 2018 10, Codification Improvements to Topic 842, No. 2018 11, Targeted Improvements to Topic 842, 2018 10 842 2016 02, Leases (Topic 842 2018 11 840, Leases 840 840. 2018 10 2018 11 2016 02 December 15, 2018. not 2018 10 2018 11 In August 2018, No. 2018 13, Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement 2018 13 280, 2018 13 1 1 2 2 3 3 4 3 2018 13 1 3 3 3 2 3 2018 13 1 3 2 3 2018 13 December 15, 2019. not 2018 13 may |
Note 2 - Liquidity
Note 2 - Liquidity | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 2. Liquidity As disclosed in the Company’s Annual Report on Form 10 $4.1 $1.9 October 31, 2018, 9 11. Effective August 14, 2018, one $978,000 two one $35,000 16 23.5 11. On September 13, 2018, 18,320,610 $3.0 12. The Company has experienced recent unfavorable court rulings and is currently still engaged in lawsuits with CRG. In addition, the Company has experienced recurring net losses and has used significant cash to fund its operations. Our projected cash burn factors in certain cost cutting initiatives that have been approved by the Board of Directors and implemented, including reductions in the workforce and a reduction in facilities expenses. Additionally, we have considerable discretion over the extent of development project expenditures and have the ability to curtail the related cash flows as needed. The Company also has funds remaining under outstanding grant awards, and continues working to establish new sources of funding, including collaborations, potential equity investments, and additional grant funding that can augment the balance sheet. However, based on our current working capital and our projected cash burn, and without definitive agreements in place for additional funding, management believes that there is substantial doubt about the Company’s ability to continue as a going concern for at least twelve 10 |
Note 3 - Discontinued Operation
Note 3 - Discontinued Operations | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 3 . Discontinued Operations On March 3, 2017, November 23, 2016 ( 414 ® In exchange for the Acquired Assets, Cardinal Health 414 $80.6 $3.0 Upon closing of the Asset Sale, the Supply and Distribution Agreement dated November 15, 2007, 414 no On April 2, 2018, 414 $6.0 not $7.1 414 414 414 April 9, 2018, $7.1 $4.1 $59.0 We recorded a net gain on the sale of the Business of $86.9 nine September 30, 2017, $16.5 $3.3 414, $2.0 $800,000 $6.4 $43,000 nine September 30, 2018, $54,000 $11,000 As a result of the Asset Sale, we reclassified certain assets and liabilities as assets and liabilities associated with discontinued operations. The following liabilities have been segregated and included in liabilities associated with discontinued operations, as appropriate, in the consolidated balance sheets: September 30 , 2018 December 31, 2017 Accrued liabilities $ — $ 7,092 Liabilities associated with discontinued operations, current $ — $ 7,092 In addition, we reclassified certain revenues and expenses related to the Business to discontinued operations for all periods presented, including interest expense related to the CRG and Platinum debt obligations as required by current accounting guidance. The following amounts have been segregated from continuing operations and included in discontinued operations in the consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Lymphoseek sales revenue $ — $ — $ — $ 2,917,213 Cost of goods sold — — — 364,192 Gross profit — — — 2,553,021 Operating expenses: Research and development — (5,951 ) 2,453 382,070 Selling, general and administrative — — — 805,464 Total operating expenses — (5,951 ) 2,453 1,187,534 (Loss) income from discontinued operations — 5,951 (2,453 ) 1,365,487 Interest expense — — — (1,718,506 ) (Loss) income before income taxes — 5,951 (2,453 ) (353,019 ) Benefit from (provision for) income taxes — (552 ) 515 20,181 (Loss) income from discontinued operations $ — $ 5,399 $ (1,938 ) $ (332,838 ) |
Note 4 - Revenue From Contracts
Note 4 - Revenue From Contracts With Customers | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 4 . Revenue from Contracts with Customers The Company adopted ASU 2014 09, January 1, 2018, three nine September 30, 2018 January 1, 2018 not January 1, 2018. We earn revenues related to our licensing and distribution agreements. The terms of these agreements may The cumulative effect of the change on accumulated deficit as of January 1, 2018 $700,000, $100,000 Tc99m June 2017, $600,000 Tc99m August 2014. not Pre- Adoption Post- Adoption Change Deferred revenue $ 26,061 $ 726,061 $ 700,000 Accumulated deficit (319,908,968 ) (320,608,968 ) (700,000 ) During the three nine September 30, 2018, $22,000 $287,000, not Navidea is focused on the development and commercialization of precision immunodiagnostic agents and immunotherapeutics. We manage our business based on two Tc99m Tc99m one Tc99 In April 2018, NAV4694, NAV4694 The following tables disaggregate the Company’s revenue from contracts with customers for the three nine September 30, 2018. T hree Months Ended September 30 , 2018 Diagnostics Therapeutics Total Tc99m tilmanocept royalty revenue: Europe $ 2,382 $ — $ 2,382 India — — — China — — — Total $ 2,382 $ — $ 2,382 License revenue: NAV4694 sublicense $ 14,930 $ — $ 14,930 Tc99m tilmanocept sublicense, China 5,000 — 5,000 Total $ 19,930 $ — $ 19,930 Other revenue: Additional stability studies $ — $ — $ — Nine Months Ended Sep t ember 30, 2018 Diagnostics Therapeutics Total Tc99m tilmanocept royalty revenue: Europe $ 9,842 $ — $ 9,842 India — — — China — — — Total $ 9,842 $ — $ 9,842 License revenue: NAV4694 sublicense $ 272,639 $ — $ 272,639 Tc99m tilmanocept sublicense, China 5,000 — 5,000 Total $ 277,639 $ — $ 277,639 Other revenue: Additional stability studies $ 15,037 $ — $ 15,037 The following economic factors affect the nature, amount, timing and uncertainty of the Company’s revenue and cash flows as indicated: Geographical L ocation of C ustomers: may may Status of Regulatory Approval: Tc99m Tc99m not may The following table summarizes the changes in contract liabilities, the current portion of which is included in accrued liabilities and other in the consolidated balance sheets, during the three nine September 30, 2018 2017: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Total deferred revenue, beginning of period $ 721,024 $ 26,061 $ 26,061 $ 41,098 Impact of adoption of ASU 2014-09 and related standards — — 700,000 — Revenue deferred related to sublicense — — 10,000 — Revenue recognized from satisfaction of performance obligations (5,000 ) — (20,037 ) (15,037 ) Total deferred revenue, end of period $ 716,024 $ 26,061 $ 716,024 $ 26,061 Currently, the Company recognizes revenue from up-front license fees and pre-market milestones after the cash has been received from its customers and the performance obligations have been met. Payments for sales-based royalties and milestones are generally received after the related revenue has been recognized and invoiced. Normal payment terms generally range from 15 90 $10,000 September 30, 2018. During the three nine September 30, 2018, not Up-front and milestone payments received related to our license and distribution agreements in India and China are deferred until Tc99m not Tc99m not no not eight 10 The transaction price of a contract is the amount of consideration to which the Company expects to be entitled in exchange for transferring promised goods or services to a customer. Transaction prices do not third not When estimating a contract’s transaction price, the Company considers all the information (historical, current, and forecasted) that is reasonably available to it and identifies possible consideration amounts. Most of the Company’s contracts with customers include both fixed and variable components of the transaction price. Under those contracts, some or all of the consideration for satisfied performance obligations is contingent on events over which the Company has no Tc99m The milestone payments have a binary outcome (that is, the Company will either receive all or none not Royalties are estimated based on the expected value method because they are based on a variable amount of sales representing a range of possible outcomes. However, when taking into account the constraint on variable consideration, the estimate of future royalties included in the transaction price is generally $0. Tc99m not no no The sublicense of NAV4694 Up-front fees, milestones and royalties are generally non-refundable. Therefore, the Company does not Through September 30, 2018, not |
Note 5 - Fair Value
Note 5 - Fair Value | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 5. Fair Value MT issued warrants to purchase MT Common Stock with certain characteristics including a net settlement provision that require the warrants to be accounted for as a derivative liability at fair value on the consolidated balance sheets. The estimated fair value of the MT warrants is $63,000 September 30, 2018 December 31, 2017, 1 The following table sets forth, by level, financial liabilities measured at fair value on a recurring basis: Liabilities Measured at Fair Value on a Recurri ng Basis as of September 30, 2018 and December 31, 2017 Description Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Liability related to MT warrants $ — $ — $ 63,000 $ 63,000 a. Valuation Processes-Level 3 third b. Sensitivity Analysis-Level 3 may may not There were no 1 2 three nine September 30, 2018 2017. no 1 2 three nine September 30, 2018 2017. 3 3 three September 30, 2018 2017 $0 3 nine September 30, 2018 2017 $0 $153,000, |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6 . Stock-Based Compensation For the three September 30, 2018 2017, $44,000 $64,000, nine September 30, 2018 2017, $261,000 $320,000, not three nine September 30, 2018 2017. A summary of the status of our stock options as of September 30, 2018, nine Nine Months Ended September 30, 2018 Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at beginning of period 3,687,679 $ 1.50 Granted 470,000 0.53 Exercised — — Canceled and Forfeited (116,000 ) 0.71 Expired (7,000 ) 0.66 Outstanding at end of period 4,034,679 $ 1.41 6.3 $ — Exercisable at end of period 2,260,683 $ 2.00 4.3 $ — A summary of the status of our unvested restricted stock as of September 30, 2018, nine Nine Months Ended September 30, 2018 Number of Shares Weighted Average Grant-Date Fair Value Unvested at beginning of period 150,000 $ 0.51 Granted 200,000 0.37 Vested (200,000 ) 0.47 Forfeited (50,000 ) 0.36 Unvested at end of period 100,000 $ 0.37 As of September 30, 2018, $101,000 1.2 |
Note 7 - (Loss) Earnings Per Sh
Note 7 - (Loss) Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7 . (Loss) Earnings Per Share Basic (loss) earnings per share is calculated by dividing net (loss) income attributable to common stockholders by the weighted-average number of common shares and, except for periods with a loss from operations, participating securities outstanding during the period. Diluted (loss) earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may The following table sets forth the reconciliation of the weighted average number of common shares outstanding used to compute basic and diluted (loss) earnings per share for the three nine September 30, 2018 2017: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Weighted average shares outstanding, basic 166,855,420 162,006,646 163,963,940 161,437,276 Dilutive shares related to warrants — — — 4,277,197 Unvested restricted stock — — — 200,000 Weighted average shares outstanding, diluted 166,855,420 162,006,646 163,963,940 165,914,473 Diluted (loss) earnings per common share for the nine September 30, 2018 2017 18.6 15.1 The Company’s unvested stock awards contain nonforfeitable rights to dividends or dividend equivalents, whether paid or unpaid (referred to as “participating securities”). Therefore, the unvested stock awards are required to be included in the number of shares outstanding for both basic and diluted earnings per share calculations. However, due to our loss from continuing operations, 100,000 200,000 nine September 30, 2018 2017, |
Note 8 - Accounts Payable, Accr
Note 8 - Accounts Payable, Accrued Liabilities and Other | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | 8. Accounts Payable, Accrued Liabilities and Other At September 30, 2018, $96,000 2016. Accrued liabilities and other at September 30, 2018 December 31, 2017 $2.3 $975,000, |
Note 9 - Notes Payable
Note 9 - Notes Payable | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 9 . Notes Payable Platinum -Montaur Life Sciences LLC In July 2012, $50 414, $7.7 11. During the nine September 30, 2018 2017, $129,000 $211,000 nine September 30, 2017, $143,000 September 30, 2018, $2.2 The Platinum Note is reflected on the consolidated balance sheets at its estimated fair value, which includes the estimated fair value of the embedded conversion option of $0 September 30, 2018 December 31, 2017. $0 three September 30, 2018 2017. $0 $153,000, nine September 30, 2018 2017. $2.2 $2.0 September 30, 2018 December 31, 2017, Capital Royalty Partners II, L.P. In May 2015, $50.0 March 3, 2017, 414. March 3, 2017, $59.0 As disclosed in the Company’s Annual Report on Form 10 December 2017, $66.0 $66.0 $59.0 March 2017, $7.0 not June 2016 $4.1 $66.0 $4.1 April 2018, $7.1 $4.1 $59.0 $4.1 $7.0 $4.1 11. IPFS Corporation In December 2016, $348,000 8.99%. eight $45,000, July 2017. In November 2017, $396,000 4.0%. ten $40,000, August 2018. $0 $318,000 September 30, 2018 December 31, 2017, Summary During the three September 30, 2018 2017, $45,000 $26,000, $44,000 $29,000 three September 30, 2018 2017, nine September 30, 2018 2017, $134,000 $91,000, $129,000 $68,000 nine September 30, 2018 2017, |
Note 10 - Terminated Lease Liab
Note 10 - Terminated Lease Liability | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Terminated Lease Liability Disclosure [Text Block] | 10. Terminated Lease Liability Effective June 1, 2017, 5600 4995 no October 2022. In accordance with current accounting guidance, the Company initially recorded a total liability of $1.0 $399,000 $706,000. December 31, 2017. A summary of the changes in our terminated lease liability during the nine September 30, 2018 Terminated Lease Liability Total liability, January 1, 2018 $ 695,307 Changes in estimated future payments (43,393 ) Payments under Blazer lease (349,290 ) Receipts from subtenant 273,869 Accretion of liability 27,909 Total liability, September 30, 2018 $ 604,402 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 1 1 . Commitments and Contingencies We are subject to legal proceedings and claims that arise in the ordinary course of business. Sinotau Litigation – NAV4694 On August 31, 2015, NAV4694 September 2016, In October 2017, NAV4694, NAV4694 not In April 2018, NAV4694, NAV4694 September 2018. CRG Litigation As disclosed in the Company’s Annual Report on Form 10 December 2017, $66.0 $66.0 2017. $59.0 March 2017, $7.0 not June 2016 $4.1 $66.0 $4.1 $4.1 $7.0 On January 16, 2018, $66.0 $4.1 June 2016, $2.9 March 26, 2018, $7.7 April 2, 2018, $4.1 June 2016 $66.0 October 1, 2018 October 31, 2018. November 20, 2018. not 2019 On April 9, 2018, $7.1 $4.1 $59.0 On April 12, 2018 2017, $66.0 $66.0 $4.1 June 2016 $66.0 $66.0 $7.1 414 May 22, 2018 June 26, 2018 August 16, 2018, $4.1million August 27, 2018, 2019. In a related proceeding before the Ohio Court, initially filed in 2016, 2017, $66.0 not $4.1 $4.1 On April 11, 2018, not $7.1 414 April 16, 2018, April 27, 2018. August 17, 2018, October 23, 2018 November 12, 2018. not 2019 On July 11, 2018, first not 2 9. Sinotau Litigation – Tc99m Tilmanocept On February 1, 2017, Tc99m 414. February 3, 2017, March 6, 2017. March 3, 2017. March 6, 414 February 2, 2017. July 12, 2017, July 27, 2017 60 February 8, 2018, February 17, 2018, February 20, 2018, Platinum-Montaur Litigation On November 2, 2017, $1.9 March 3, 2017, December 6, 2017. January 26, 2018 March 9, 2018, April 6, 2018. October 31, 2018, no Goldberg Agreement Effective August 14, 2018, one $978,000 two one $35,000 16 23.5 23.5 18 5% As of the date of filing this Quarterly Report on Form 10 not None 23.5 NYSE American Continued Listing Standards On August 14, 2018, not not 1003 $4.0 three four $2.1 June 30, 2018, four five December 31, 2017. Navidea was required to submit a plan to the NYSE American by September 14, 2018 February 14, 2020. On October 25, 2018, not 1003 $6.0 five $2.1 June 30, 2018, five December 31, 2017. The Company must provide quarterly updates to the NYSE American staff (the “Staff”) concurrent with its interim/annual SEC filings. If Navidea fails to regain compliance with the stockholders’ equity standards by February 14, 2020, may In addition, the Deficiency Letter stated that the Staff determined that the Company’s securities have been selling for a low price per share for a substantial period of time and, pursuant to Section 1003 $0.001 no February 14, 2019. February 14, 2020. In accordance with ASC Topic 450, Contingencies not |
Note 12 - Equity Instruments
Note 12 - Equity Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 12 . Equity Instruments During September 2018, 18,320,610 $0.001 $3.0 During the nine September 30, 2018 2017, 1,118,760 710,353 $317,000 $369,000, 2017, 2016 2015 During the nine September 30, 2018 2017, 94,684 105,308 401 $36,000 $54,000, During the nine September 30, 2017, 16,406 $10,500 not nine September 30, 2018. |
Note 13 - Stock Warrants
Note 13 - Stock Warrants | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Stock Warrants Disclosure [Text Block] | 1 3 . Stock Warrants In January 2017, 5,411,850 5,411,850 $54,119. In March 2017, 414 five 10 1 $1.50 five 77% five 2%. 414 $3.3 nine September 30, 2017. $334,000, nine September 30, 2017. At September 30, 2018, 16.4 $0.01 $2.50 $1.15 one 17 In addition, at September 30, 2018, 300 $2,000 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets (“DTAs”) and deferred tax liabilities (“DTLs”) are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. DTAs and DTLs are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on DTAs and DTLs of a change in tax rates is recognized in income in the period that includes the enactment date. Current accounting standards require a valuation allowance against DTAs if, based on the weight of available evidence, it is more likely than not may not September 30, 2018 December 31, 2017, In assessing the realizability of DTAs, management considers whether it is more likely than not not not not September 30, 2018 The Tax Cuts and Jobs Act (the “Tax Act”) was signed into law on December 22, 2017. 35% 21%, January 1, 2018. 2018, 2019 2020. may 2018 2020, 50 2018, 2019 2020 2021. 6.2%, $76,000 nine September 30, 2018. $1.1 $1.2 September 30, 2018 December 31, 2017, may Current accounting standards include guidance on the accounting for uncertainty in income taxes recognized in the financial statements. Such standards also prescribe a recognition threshold and measurement model for the financial statement recognition of a tax position taken, or expected to be taken, and provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company believes that the ultimate deductibility of all tax positions is highly certain, although there is uncertainty about the timing of such deductibility. As a result, no September 30, 2018 December 31, 2017 not twelve September 30, 2018, 2014 2017 Provision for income taxes was $76,000 three September 30, 2018, 2.0%. $776,000 three September 30, 2017, 34.0%. three September 30, 2018 2017 As of September 30, 2018, $131.8 $20.4 $9.7 |
Note 15 - Segments
Note 15 - Segments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 1 5 . Segments We report information about our operating segments using the “management approach” in accordance with current accounting standards. This information is based on the way management organizes and reports the segments within the enterprise for making operating decisions and assessing performance. Our reportable segments are identified based on differences in products, services and markets served. There were no two Tc99m NAV4694 April 2018), The information in the following tables is derived directly from each reportable segment’s financial reporting. T hree Months Ended September 30, 2018 Diagnostics Therapeutics Corporate Total Royalty revenue $ 2,382 $ — $ — $ 2,382 License revenue 19,930 — — 19,930 Grant and other revenue 65,505 143,641 — 209,146 Total revenue 87,817 143,641 — 231,458 Cost of revenue 38,101 — — 38,101 Research and development expenses 711,355 514,415 — 1,225,770 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 20,532 2,630,581 2,651,113 Depreciation and amortization (2) — — 37,590 37,590 Loss from operations (3) (661,639 ) (391,306 ) (2,668,171 ) (3,721,116 ) Other expense (4) — — (24,534 ) (24,534 ) Income tax expense (10,081 ) (3,879 ) (62,299 ) (76,259 ) Net loss from continuing operations (671,720 ) (395,185 ) (2,755,004 ) (3,821,909 ) Net loss (671,720 ) (395,185 ) (2,755,004 ) (3,821,909 ) Total assets, net of depreciation and amortization: United States $ 117,722 $ 72,622 $ 8,899,301 $ 9,089,645 International 18,239 — 1,158 19,397 Capital expenditures — — 16,152 16,152 T hree Months Ended September 30, 2017 Diagnostics Therapeutics Corporate Total Grant and other revenue $ 210,479 $ 13,190 $ — $ 223,669 Research and development expenses 734,539 140,008 — 874,547 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 13,359 1,671,022 1,684,381 Depreciation and amortization (2) — — 50,326 50,326 Loss from operations (3) (524,060 ) (140,177 ) (1,721,348 ) (2,385,585 ) Other income — — 69,071 69,071 Income tax benefit 175,496 46,942 553,312 775,750 Net loss from continuing operations (348,564 ) (93,235 ) (1,098,965 ) (1,540,764 ) Income from discontinued operations, net of tax 5,399 — — 5,399 Gain on sale of discontinued operations, net of tax 145,877 — — 145,877 Net loss (197,288 ) (93,235 ) (1,098,965 ) (1,389,488 ) Total assets, net of depreciation and amortization: United States $ 14,675,489 $ 10,591 $ 7,835,426 $ 22,521,506 International 82,334 — 1,867 84,201 Capital expenditures — — 23,247 23,247 Nine Months Ended September 30, 2018 Diagnostics Therapeutics Corporate Total Royalty revenue $ 9,842 $ — $ — $ 9,842 License revenue 277,639 — — 277,639 Grant and other revenue 454,830 307,719 — 762,549 Total revenue 742,311 307,719 — 1,050,030 Cost of revenue 73,811 — — 73,811 Research and development expenses 2,409,524 957,920 — 3,367,444 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 45,769 6,095,617 6,141,386 Depreciation and amortization (2) — — 113,088 113,088 Loss from operations (3) (1,741,024 ) (695,970 ) (6,208,705 ) (8,645,699 ) Other expense (4) — — (4,284,014 ) (4,284,014 ) Income tax expense (8,797 ) (3,517 ) (53,017 ) (65,330 ) Net loss from continuing operations (1,749,821 ) (699,487 ) (10,545,736 ) (12,995,043 ) Loss from discontinued operations, net of tax (1,938 ) — — (1,938 ) Gain on sale of discontinued operations, net of tax 43,053 — — 43,053 Net loss (1,708,706 ) (699,487 ) (10,545,736 ) (12,953,928 ) Total assets, net of depreciation and amortization: United States $ 117,722 $ 72,622 $ 8,899,301 $ 9,089,645 International 18,239 — 1,158 19,397 Capital expenditures — — 19,317 19,317 Nine Months Ended September 30, 2017 Diagnostics Therapeutics Corporate Total License revenue $ 100,000 $ — $ — $ 100,000 Grant and other revenue 1,200,216 115,082 — 1,315,298 Total revenue 1,300,216 115,082 — 1,415,298 Research and development expenses 2,255,842 509,853 — 2,765,695 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 19,342 8,789,728 8,809,070 Depreciation and amortization (2) — — 197,655 197,655 Loss from operations (3) (955,626 ) (414,113 ) (8,987,383 ) (10,357,122 ) Other expense (4) — — (1,061,190 ) (1,061,190 ) Income tax benefit 323,149 140,034 3,397,972 3,861,156 Net loss from continuing operations (632,477 ) (274,079 ) (6,650,601 ) (7,557,156 ) Loss from discontinued operations, net of tax (332,838 ) — — (332,838 ) Gain on sale of discontinued operations, net of tax 86,894,000 — — 86,894,000 Net income (loss) 85,928,685 (274,079 ) (6,650,601 ) 79,004,006 Total assets, net of depreciation and amortization: United States $ 14,675,489 $ 10,591 $ 7,835,426 $ 22,521,506 International 82,334 — 1,867 84,201 Capital expenditures — — 31,417 31,417 ( 1 General and administrative expenses, excluding depreciation and amortization, represent costs that relate to the general administration of the Company and as such are not ( 2 ) Depreciation and amortization is reflected in selling, general and administrative expenses ( $37,590 $50,326 three September 30, 2018 2017, $113,088 $197,655 nine September 30, 2018 2017, ( 3 ) Income (loss) from operations does not ( 4 ) Amounts consist primarily of losses on debt extinguishment and changes in fair value of financial instruments, which are not |
Note 16 - Supplemental Disclosu
Note 16 - Supplemental Disclosure for Statements of Cash Flows | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | 16. Supplemental Disclosure for Statements of Cash Flows During the nine September 30, 2018 2017, $8,000 $7.4 nine September 30, 2018 2017, 94,684 105,308 401 $36,000 $54,000, nine September 30, 2017, 1.0 $334,000. |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 1 7 . Subsequent Events The Company has evaluated events and transactions subsequent to September 30, 2018 10 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | a. Basis of Presentation: September 30, 2018 three nine September 30, 2018 2017 September 30, 2018 not December 31, 2017, 10 In March 2017, 414, 414” ® 3. 414, Tc99m Our consolidated financial statements include the accounts of Navidea and our wholly-owned subsidiaries, Navidea Biopharmaceuticals Limited and Cardiosonix Ltd, as well as those of our majority-owned subsidiary, Macrophage Therapeutics, Inc. (“MT”). All significant inter-company accounts were eliminated in consolidation. Cardiosonix was legally dissolved in September 2017. Our consolidated balance sheets and statements of operations have been reclassified, as required, for all periods presented to reflect the Business as a discontinued operation. Cash flows associated with the operation of the Business have been combined with operating, investing and financing cash flows, as appropriate, in our consolidated statements of cash flows. See Note 3. Certain prior period amounts also have been reclassified to conform to the current year’s presentation, including the adoption of Accounting Standards Update (“ASU”) No. 2014 09, Revenue from Contracts with Customers , |
Fair Value of Financial Instruments, Policy [Policy Text Block] | b. Financial Instruments and Fair Value: ( 1 Cash, available-for-sale securities, accounts and other receivables, and accounts payable: September 30, 2018 December 31, 2017, $ 96,000 2016. ( 2 Notes payable: September 30, 2018 December 31, 2017 September 30, 2018, $2.2 $2.2 December 31, 2017, $2.4 $2.4 9. ( 3 Derivative liabilities: $ 63,000 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 5. ( 4 Warrants: March 2017, 414 five 10 1 $1.50 414 $3.3 nine September 30, 2017. $334,000, 13. |
New Accounting Pronouncements, Policy [Policy Text Block] | c. Recently Adopted Accounting Standards: May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 2014 09 five may 2014 09, 606 2014 09, 2016 08, 2016 10, 2016 12 2016 20, January 1, 2018, 2014 09 $ 700,000 4. In November 2016, No. 2016 18, Statement of Cash Flows – Restricted Cash 2016 18 2016 18 December 15, 2017, 2016 18 2016 18 January 1, 2018. 2016 18 $5.0 nine September 30, 2017. In March 2018, No. 2018 05, Income Taxes (Topic 740 – Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 2018 05 740 No. 118. 2018 05 740 2018 05 March 2018 not d . Recent ly Issued A ccounting Standards: February 2016, No. 2016 02, Leases (Topic 842 2016 02 842 2016 02 December 15, 2018, 2016 02, fourth 2018. 2016 02 $ 300,000 In June 2018, No. 2018 07, Compensation—Stock Compensation (Topic 718 2018 07 718 718 2018 07 718 718 not 1 2 606, Revenue from Contracts with Customers 2018 07 December 15, 2018, 2018 07 not In July 2018, No. 2018 09, Codification Improvements 2018 09 2018 09 December 15, 2018 2018 09 not Also in July 2018, No. 2018 10, Codification Improvements to Topic 842, No. 2018 11, Targeted Improvements to Topic 842, 2018 10 842 2016 02, Leases (Topic 842 2018 11 840, Leases 840 840. 2018 10 2018 11 2016 02 December 15, 2018. not 2018 10 2018 11 In August 2018, No. 2018 13, Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement 2018 13 280, 2018 13 1 1 2 2 3 3 4 3 2018 13 1 3 3 3 2 3 2018 13 1 3 2 3 2018 13 December 15, 2019. not 2018 13 may |
Note 3 - Discontinued Operati_2
Note 3 - Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | September 30 , 2018 December 31, 2017 Accrued liabilities $ — $ 7,092 Liabilities associated with discontinued operations, current $ — $ 7,092 Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Lymphoseek sales revenue $ — $ — $ — $ 2,917,213 Cost of goods sold — — — 364,192 Gross profit — — — 2,553,021 Operating expenses: Research and development — (5,951 ) 2,453 382,070 Selling, general and administrative — — — 805,464 Total operating expenses — (5,951 ) 2,453 1,187,534 (Loss) income from discontinued operations — 5,951 (2,453 ) 1,365,487 Interest expense — — — (1,718,506 ) (Loss) income before income taxes — 5,951 (2,453 ) (353,019 ) Benefit from (provision for) income taxes — (552 ) 515 20,181 (Loss) income from discontinued operations $ — $ 5,399 $ (1,938 ) $ (332,838 ) |
Note 4 - Revenue From Contrac_2
Note 4 - Revenue From Contracts With Customers (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | T hree Months Ended September 30 , 2018 Diagnostics Therapeutics Total Tc99m tilmanocept royalty revenue: Europe $ 2,382 $ — $ 2,382 India — — — China — — — Total $ 2,382 $ — $ 2,382 License revenue: NAV4694 sublicense $ 14,930 $ — $ 14,930 Tc99m tilmanocept sublicense, China 5,000 — 5,000 Total $ 19,930 $ — $ 19,930 Other revenue: Additional stability studies $ — $ — $ — Nine Months Ended Sep t ember 30, 2018 Diagnostics Therapeutics Total Tc99m tilmanocept royalty revenue: Europe $ 9,842 $ — $ 9,842 India — — — China — — — Total $ 9,842 $ — $ 9,842 License revenue: NAV4694 sublicense $ 272,639 $ — $ 272,639 Tc99m tilmanocept sublicense, China 5,000 — 5,000 Total $ 277,639 $ — $ 277,639 Other revenue: Additional stability studies $ 15,037 $ — $ 15,037 |
Contract with Customer, Asset and Liability [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Total deferred revenue, beginning of period $ 721,024 $ 26,061 $ 26,061 $ 41,098 Impact of adoption of ASU 2014-09 and related standards — — 700,000 — Revenue deferred related to sublicense — — 10,000 — Revenue recognized from satisfaction of performance obligations (5,000 ) — (20,037 ) (15,037 ) Total deferred revenue, end of period $ 716,024 $ 26,061 $ 716,024 $ 26,061 |
Accounting Standards Update 2014-09 [Member] | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Pre- Adoption Post- Adoption Change Deferred revenue $ 26,061 $ 726,061 $ 700,000 Accumulated deficit (319,908,968 ) (320,608,968 ) (700,000 ) |
Note 5 - Fair Value (Tables)
Note 5 - Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Liabilities Measured at Fair Value on a Recurri ng Basis as of September 30, 2018 and December 31, 2017 Description Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Liability related to MT warrants $ — $ — $ 63,000 $ 63,000 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Nine Months Ended September 30, 2018 Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at beginning of period 3,687,679 $ 1.50 Granted 470,000 0.53 Exercised — — Canceled and Forfeited (116,000 ) 0.71 Expired (7,000 ) 0.66 Outstanding at end of period 4,034,679 $ 1.41 6.3 $ — Exercisable at end of period 2,260,683 $ 2.00 4.3 $ — |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Nine Months Ended September 30, 2018 Number of Shares Weighted Average Grant-Date Fair Value Unvested at beginning of period 150,000 $ 0.51 Granted 200,000 0.37 Vested (200,000 ) 0.47 Forfeited (50,000 ) 0.36 Unvested at end of period 100,000 $ 0.37 |
Note 7 - (Loss) Earnings Per _2
Note 7 - (Loss) Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Weighted average shares outstanding, basic 166,855,420 162,006,646 163,963,940 161,437,276 Dilutive shares related to warrants — — — 4,277,197 Unvested restricted stock — — — 200,000 Weighted average shares outstanding, diluted 166,855,420 162,006,646 163,963,940 165,914,473 |
Note 10 - Terminated Lease Li_2
Note 10 - Terminated Lease Liability (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Terminated Lease Liability [Table Text Block] | Terminated Lease Liability Total liability, January 1, 2018 $ 695,307 Changes in estimated future payments (43,393 ) Payments under Blazer lease (349,290 ) Receipts from subtenant 273,869 Accretion of liability 27,909 Total liability, September 30, 2018 $ 604,402 |
Note 15 - Segments (Tables)
Note 15 - Segments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | T hree Months Ended September 30, 2018 Diagnostics Therapeutics Corporate Total Royalty revenue $ 2,382 $ — $ — $ 2,382 License revenue 19,930 — — 19,930 Grant and other revenue 65,505 143,641 — 209,146 Total revenue 87,817 143,641 — 231,458 Cost of revenue 38,101 — — 38,101 Research and development expenses 711,355 514,415 — 1,225,770 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 20,532 2,630,581 2,651,113 Depreciation and amortization (2) — — 37,590 37,590 Loss from operations (3) (661,639 ) (391,306 ) (2,668,171 ) (3,721,116 ) Other expense (4) — — (24,534 ) (24,534 ) Income tax expense (10,081 ) (3,879 ) (62,299 ) (76,259 ) Net loss from continuing operations (671,720 ) (395,185 ) (2,755,004 ) (3,821,909 ) Net loss (671,720 ) (395,185 ) (2,755,004 ) (3,821,909 ) Total assets, net of depreciation and amortization: United States $ 117,722 $ 72,622 $ 8,899,301 $ 9,089,645 International 18,239 — 1,158 19,397 Capital expenditures — — 16,152 16,152 T hree Months Ended September 30, 2017 Diagnostics Therapeutics Corporate Total Grant and other revenue $ 210,479 $ 13,190 $ — $ 223,669 Research and development expenses 734,539 140,008 — 874,547 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 13,359 1,671,022 1,684,381 Depreciation and amortization (2) — — 50,326 50,326 Loss from operations (3) (524,060 ) (140,177 ) (1,721,348 ) (2,385,585 ) Other income — — 69,071 69,071 Income tax benefit 175,496 46,942 553,312 775,750 Net loss from continuing operations (348,564 ) (93,235 ) (1,098,965 ) (1,540,764 ) Income from discontinued operations, net of tax 5,399 — — 5,399 Gain on sale of discontinued operations, net of tax 145,877 — — 145,877 Net loss (197,288 ) (93,235 ) (1,098,965 ) (1,389,488 ) Total assets, net of depreciation and amortization: United States $ 14,675,489 $ 10,591 $ 7,835,426 $ 22,521,506 International 82,334 — 1,867 84,201 Capital expenditures — — 23,247 23,247 Nine Months Ended September 30, 2018 Diagnostics Therapeutics Corporate Total Royalty revenue $ 9,842 $ — $ — $ 9,842 License revenue 277,639 — — 277,639 Grant and other revenue 454,830 307,719 — 762,549 Total revenue 742,311 307,719 — 1,050,030 Cost of revenue 73,811 — — 73,811 Research and development expenses 2,409,524 957,920 — 3,367,444 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 45,769 6,095,617 6,141,386 Depreciation and amortization (2) — — 113,088 113,088 Loss from operations (3) (1,741,024 ) (695,970 ) (6,208,705 ) (8,645,699 ) Other expense (4) — — (4,284,014 ) (4,284,014 ) Income tax expense (8,797 ) (3,517 ) (53,017 ) (65,330 ) Net loss from continuing operations (1,749,821 ) (699,487 ) (10,545,736 ) (12,995,043 ) Loss from discontinued operations, net of tax (1,938 ) — — (1,938 ) Gain on sale of discontinued operations, net of tax 43,053 — — 43,053 Net loss (1,708,706 ) (699,487 ) (10,545,736 ) (12,953,928 ) Total assets, net of depreciation and amortization: United States $ 117,722 $ 72,622 $ 8,899,301 $ 9,089,645 International 18,239 — 1,158 19,397 Capital expenditures — — 19,317 19,317 Nine Months Ended September 30, 2017 Diagnostics Therapeutics Corporate Total License revenue $ 100,000 $ — $ — $ 100,000 Grant and other revenue 1,200,216 115,082 — 1,315,298 Total revenue 1,300,216 115,082 — 1,415,298 Research and development expenses 2,255,842 509,853 — 2,765,695 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 19,342 8,789,728 8,809,070 Depreciation and amortization (2) — — 197,655 197,655 Loss from operations (3) (955,626 ) (414,113 ) (8,987,383 ) (10,357,122 ) Other expense (4) — — (1,061,190 ) (1,061,190 ) Income tax benefit 323,149 140,034 3,397,972 3,861,156 Net loss from continuing operations (632,477 ) (274,079 ) (6,650,601 ) (7,557,156 ) Loss from discontinued operations, net of tax (332,838 ) — — (332,838 ) Gain on sale of discontinued operations, net of tax 86,894,000 — — 86,894,000 Net income (loss) 85,928,685 (274,079 ) (6,650,601 ) 79,004,006 Total assets, net of depreciation and amortization: United States $ 14,675,489 $ 10,591 $ 7,835,426 $ 22,521,506 International 82,334 — 1,867 84,201 Capital expenditures — — 31,417 31,417 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2018 | Sep. 30, 2017 | Dec. 31, 2019 | Sep. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Notes Payable, Fair Value Disclosure | $ 2,200,000 | $ 2,400,000 | |||||
Notes Payable, Current, Total | 2,164,330 | 2,353,639 | |||||
Derivative Liability, Total | 63,000 | 63,000 | |||||
Deferred Revenue | $ 726,061 | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (700,000) | ||||||
Accounting Standards Update 2014-09 [Member] | Sayre Pharmaceuticals [Member] | |||||||
Deferred Revenue | 700,000 | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 700,000 | ||||||
Accounting Standards Update 2016-18 [Member] | Fiscal Year 2016 [Member] | |||||||
Prior Period Reclassification Adjustment | $ 5,000,000 | ||||||
Accounting Standards Update 2016-02 [Member] | Scenario, Forecast [Member] | |||||||
Operating Lease, Right-of-Use Asset | $ 300,000 | ||||||
Operating Lease, Liability, Total | $ 300,000 | ||||||
Series NN Warrants [Member] | |||||||
Class of Warrant or Right, Term | 5 years | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.50 | ||||||
Series NN Warrants [Member] | Cardinal Health 414 [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 10,000,000 | ||||||
Class of Warrant or Right, Grants in Period, Estimated Fair Value | $ 3,300,000 | ||||||
Series NN Warrants [Member] | UCSD [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,000,000 | 1,000,000 | |||||
Class of Warrant or Right, Grants in Period, Estimated Fair Value | $ 334,000 | ||||||
Former Executive [Member] | |||||||
Accounts Payable, Disputed | $ 96,000 | $ 96,000 |
Note 2 - Liquidity (Details Tex
Note 2 - Liquidity (Details Textual) - USD ($) | Sep. 13, 2018 | Aug. 14, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Mar. 03, 2017 |
Private Placement [Member] | |||||
Stock Issued During Period, Shares, New Issues | 18,320,610 | 18,320,610 | |||
Stock Issued During Period, Value, New Issues | $ 3,000,000 | $ 3,000,000 | |||
Former Chief Executive Officer and President [Member] | |||||
Severance Costs, Payable | $ 978,000 | ||||
Severance Costs , Payable Period | 2 years | ||||
Common Stock Shares Provided by Agreement | 23,500,000 | ||||
Severance Costs, Payable for Continuation of Healthcare Coverage | $ 35,000 | ||||
Severance Costs, Payable, Period for Healthcare Coverage | 1 year 120 days | ||||
PPCO [Member] | Platinum Loan Agreement [Member] | |||||
Convertible Debt, Total | $ 1,900,000 | ||||
CRG Loan Agreement, Texas Case [Member] | Judicial Ruling [Member] | |||||
Loss Contingency, Damages Awarded, Value, Amount not Taken into Consideration | $ 4,100,000 |
Note 3 - Discontinued Operati_3
Note 3 - Discontinued Operations (Details Textual) - USD ($) | Apr. 02, 2018 | Mar. 31, 2017 | Mar. 03, 2017 | Dec. 31, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total | $ 145,877 | $ 43,053 | $ 86,894,000 | |||||
CRG Loan Agreement, Texas Case [Member] | Judicial Ruling [Member] | ||||||||
Loss Contingency, Damages Awarded, Value, Amount not Taken into Consideration | $ 4,100,000 | |||||||
CRG Loan Agreement, Texas Case [Member] | Judicial Ruling [Member] | Term Loan Agreement [Member] | ||||||||
Repayments of Debt | $ 59,000,000 | |||||||
Sale of Assets to Cardinal Health 414 [Member] | ||||||||
Sale of Assets, Cash Received from Buyer, After Adjustments, Inventory Transferred | $ 80,600,000 | |||||||
Sale of Assets, Cash Received from Buyer, After Adjustments, Advances of Guaranteed Earnout Payments | $ 3,000,000 | |||||||
Sale of Assets, Cash Received from Buyer as Result of Amendment | $ 6,000,000 | |||||||
Sale of Assets, Maximum Amount Receivable from Buyer for Unused Portion of Letter of Credit | $ 7,100,000 | |||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total | 43,000 | 86,900,000 | ||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Guaranteed Consideration | 54,000 | 16,500,000 | ||||||
Warrants Issued During Period, Value Issued, Asset Sale | 3,300,000 | |||||||
Sale of Assets, Legal and Other Fees Related to the Sale | 2,000,000 | |||||||
Sale of Assets, Net Balance Sheet Dispositions and Write-offs | $ 800,000 | 800,000 | ||||||
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation | $ 11,000 | $ 6,400,000 |
Note 3 - Discontinued Operati_4
Note 3 - Discontinued Operations - Discontinued Operations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Accrued liabilities | $ 7,092 | ||||
Liabilities associated with discontinued operations, current | $ 7,092 | ||||
Lymphoseek sales revenue | $ 2,917,213 | ||||
Cost of goods sold | 364,192 | ||||
Gross profit | 2,553,021 | ||||
Operating expenses of discontinued operation: | |||||
Research and development | (5,951) | 2,453 | 382,070 | ||
Selling, general and administrative | 805,464 | ||||
Total operating expenses | (5,951) | 2,453 | 1,187,534 | ||
(Loss) income from discontinued operations | 5,951 | (2,453) | 1,365,487 | ||
Interest expense | (1,718,506) | ||||
(Loss) income before income taxes | 5,951 | (2,453) | (353,019) | ||
Benefit from (provision for) income taxes | (552) | 515 | 20,181 | ||
(Loss) income from discontinued operations | $ 5,399 | $ (1,938) | $ (332,838) |
Note 4 - Revenue From Contrac_3
Note 4 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (700,000) | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 22,000 | $ 287,000 | ||
Contract with Customer, Asset, Impairment Loss | 0 | $ 0 | ||
Contract with Customer, Payment Term, Minimum | 15 days | |||
Contract with Customer, Payment Term, Maximum | 90 days | |||
Contract with Customer, Asset, Net, Total | 10,000 | $ 10,000 | ||
Contract with Customer, Transaction Price of Royalties Using Expected Value Method | 0 | 0 | ||
Capitalized Contract Cost, Net, Total | 0 | $ 0 | ||
INDIA | ||||
Contract with Customer, Term of Contract | 8 years | |||
CHINA | ||||
Contract with Customer, Term of Contract | 10 years | |||
Long-term Contract with Customer [Member] | ||||
Contract with Customer, Performance Obligation Satisfied in Previous Period | $ 0 | |||
Retained Earnings [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (700,000) | |||
Accounting Standards Update 2014-09 [Member] | Sayre Pharmaceuticals [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 700,000 | |||
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (700,000) | |||
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | Sayre Pharmaceuticals [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (100,000) | |||
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | Beijing Sinotau Medical Research Co., Ltd. [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (600,000) |
Note 4 - Revenue From Contrac_4
Note 4 - Revenue From Contracts With Customers - Change in Deferred Revenue and Accumulated Deficit (Details) - USD ($) | Sep. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Deferred revenue | $ 726,061 | ||
Accumulated deficit | $ (333,562,563) | (320,608,968) | $ (319,908,968) |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||
Deferred revenue | 26,061 | ||
Accumulated deficit | $ (319,908,968) | ||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||
Deferred revenue | 700,000 | ||
Accumulated deficit | $ (700,000) |
Note 4 - Revenue From Contrac_5
Note 4 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue from contract with customer | $ 22,000 | $ 287,000 | ||
Royalty [Member] | ||||
Revenue from contract with customer | 2,382 | 9,842 | ||
Royalty [Member] | Diagnostics Segment [Member] | ||||
Revenue from contract with customer | 2,382 | 9,842 | ||
Royalty [Member] | Therapeutics Segment [Member] | ||||
Revenue from contract with customer | ||||
NAV4694 Sublicense [Member] | ||||
Revenue from contract with customer | 14,930 | 272,639 | ||
NAV4694 Sublicense [Member] | Diagnostics Segment [Member] | ||||
Revenue from contract with customer | 14,930 | 272,639 | ||
NAV4694 Sublicense [Member] | Therapeutics Segment [Member] | ||||
Revenue from contract with customer | ||||
License [Member] | ||||
Revenue from contract with customer | 19,930 | 277,639 | 100,000 | |
License [Member] | Diagnostics Segment [Member] | ||||
Revenue from contract with customer | 19,930 | 277,639 | 100,000 | |
License [Member] | Therapeutics Segment [Member] | ||||
Revenue from contract with customer | ||||
Product and Service, Other [Member] | ||||
Revenue from contract with customer | 15,037 | |||
Product and Service, Other [Member] | Diagnostics Segment [Member] | ||||
Revenue from contract with customer | 15,037 | |||
Product and Service, Other [Member] | Therapeutics Segment [Member] | ||||
Revenue from contract with customer | ||||
Europe [Member] | Royalty [Member] | ||||
Revenue from contract with customer | 2,382 | 9,842 | ||
Europe [Member] | Royalty [Member] | Diagnostics Segment [Member] | ||||
Revenue from contract with customer | 2,382 | 9,842 | ||
Europe [Member] | Royalty [Member] | Therapeutics Segment [Member] | ||||
Revenue from contract with customer | ||||
INDIA | Royalty [Member] | ||||
Revenue from contract with customer | ||||
INDIA | Royalty [Member] | Diagnostics Segment [Member] | ||||
Revenue from contract with customer | ||||
INDIA | Royalty [Member] | Therapeutics Segment [Member] | ||||
Revenue from contract with customer | ||||
CHINA | Royalty [Member] | ||||
Revenue from contract with customer | ||||
CHINA | Royalty [Member] | Diagnostics Segment [Member] | ||||
Revenue from contract with customer | ||||
CHINA | Royalty [Member] | Therapeutics Segment [Member] | ||||
Revenue from contract with customer | ||||
CHINA | Expanded Tc99m Tilmanocept License Agreement [Member] | ||||
Revenue from contract with customer | 5,000 | 5,000 | ||
CHINA | Expanded Tc99m Tilmanocept License Agreement [Member] | Diagnostics Segment [Member] | ||||
Revenue from contract with customer | 5,000 | 5,000 | ||
CHINA | Expanded Tc99m Tilmanocept License Agreement [Member] | Therapeutics Segment [Member] | ||||
Revenue from contract with customer |
Note 4 - Revenue From Contrac_6
Note 4 - Revenue From Contracts With Customers - Changes in Contract Liabilities (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Total deferred revenue, beginning of period | $ 721,024 | $ 26,061 | $ 26,061 | $ 41,098 |
Impact of adoption of ASU 2014-09 and related standards | 700,000 | |||
Revenue deferred related to sublicense | 10,000 | |||
Revenue recognized from satisfaction of performance obligations | (5,000) | (20,037) | (15,037) | |
Total deferred revenue, end of period | $ 716,024 | $ 26,061 | $ 716,024 | $ 26,061 |
Note 5 - Fair Value (Details Te
Note 5 - Fair Value (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Derivative Liability, Total | $ 63,000 | $ 63,000 | $ 63,000 | ||
Fair Value, Inputs, Level 1 [Member] | |||||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease), Total | 0 | $ 0 | 0 | $ 153,000 | |
Fair Value, Inputs, Level 2 [Member] | |||||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | |||
Other Liabilities [Member] | |||||
Derivative Liability, Total | $ 63,000 | $ 63,000 | $ 63,000 |
Note 5 - Fair Value - Financial
Note 5 - Fair Value - Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 | |
Derivative Liability, Total | $ 63,000 | $ 63,000 | |
Fair Value, Measurements, Recurring [Member] | |||
Derivative Liability, Total | [1],[2] | 63,000 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative Liability, Total | [1],[2] | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative Liability, Total | [1],[2] | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative Liability, Total | [1],[2] | $ 63,000 | |
[1] | a. Valuation Processes-Level 3 Measurements: The Company utilizes third-party valuation services that use complex models such as Monte Carlo simulation to estimate the value of our financial liabilities. | ||
[2] | b. Sensitivity Analysis-Level 3 Measurements: Changes in the valuation of MT as a whole may cause material changes in the fair value of the MT warrants. Significant increases (decreases) in the valuation of MT, such as may be the result of additional financing, could result in a higher (lower) fair value measurement. A change in the valuation of MT would not necessarily result in a directionally similar change in the value of the MT warrants. |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Allocated Share-based Compensation Expense, Total | $ 44,000 | $ 64,000 | $ 261,000 | $ 320,000 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 0 | $ 0 | 0 | $ 0 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 101,000 | $ 101,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 73 days |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation - Summary of Stock Option Activity (Details) | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | |
Outstanding at beginning of period (in shares) | 3,687,679 |
Outstanding at beginning of period (in dollars per share) | $ / shares | $ 1.50 |
Granted (in shares) | 470,000 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 0.53 |
Exercised (in shares) | |
Canceled and Forfeited (in shares) | (116,000) |
Canceled and Forfeited, weighted average exercise price (in dollars per share) | $ / shares | $ 0.71 |
Expired (in shares) | (7,000) |
Expired (in dollars per share) | $ / shares | $ 0.66 |
Outstanding at end of period (in shares) | 4,034,679 |
Outstanding at end of period (in dollars per share) | $ / shares | $ 1.41 |
Outstanding at end of period (Year) | 6 years 109 days |
Outstanding at end of period | $ | |
Exercisable at end of period (in shares) | 2,260,683 |
Exercisable at end of period (in dollars per share) | $ / shares | $ 2 |
Exercisable at end of period (Year) | 4 years 109 days |
Exercisable at end of period | $ |
Note 6 - Stock-based Compensa_5
Note 6 - Stock-based Compensation - Summary of Unvested Restricted Stock (Details) - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Unvested at beginning of period (in shares) | shares | 150,000 |
Unvested at beginning of period (in dollars per share) | $ / shares | $ 0.51 |
Granted (in shares) | shares | 200,000 |
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 0.37 |
Vested (in shares) | shares | (200,000) |
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 0.47 |
Forfeited (in shares) | shares | (50,000) |
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 0.36 |
Unvested at end of period (in shares) | shares | 100,000 |
Unvested at end of period (in dollars per share) | $ / shares | $ 0.37 |
Note 7 - (Loss) Earnings Per _3
Note 7 - (Loss) Earnings Per Share (Details Textual) - shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Stock Options, Warrants, Convertible Debt, and Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 18,600,000 | 15,100,000 |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 100,000 | 200,000 |
Note 7 - (Loss) Earnings Per _4
Note 7 - (Loss) Earnings Per Share - Earnings (Loss) Per Share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Weighted average shares outstanding, basic (in shares) | 166,855,420 | 162,006,646 | 163,963,940 | 161,437,276 |
Dilutive shares related to warrants (in shares) | 4,277,197 | |||
Unvested restricted stock (in shares) | 200,000 | |||
Weighted average shares outstanding, diluted (in shares) | 166,855,420 | 162,006,646 | 163,963,940 | 165,914,473 |
Note 8 - Accounts Payable, Ac_2
Note 8 - Accounts Payable, Accrued Liabilities and Other (Details Textual) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Executive Bonuses, Director Fees, Deferred Salary, and Scientific Advisory Board Fees [Member] | Accrued Liabilities and Other [Member] | ||
Due to Related Parties, Current, Total | $ 2,300,000 | $ 975,000 |
Former Executive [Member] | ||
Accounts Payable, Disputed | $ 96,000 | $ 96,000 |
Note 9 - Notes Payable (Details
Note 9 - Notes Payable (Details Textual) - USD ($) | Apr. 09, 2018 | Mar. 26, 2018 | Mar. 31, 2017 | Mar. 03, 2017 | Dec. 31, 2017 | Nov. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | May 31, 2015 | Jul. 31, 2012 |
Notes Payable, Current, Total | $ 2,353,639 | $ 2,164,330 | $ 2,164,330 | |||||||||||
Interest Expense, Debt, Total | 45,000 | $ 26,000 | 134,000 | $ 91,000 | ||||||||||
Interest Expense Recorded Related to Amortization of Debt Discounts and Deferred Financing Costs | 44,000 | 29,000 | 129,000 | 68,000 | ||||||||||
CRG [Member] | ||||||||||||||
Draws on Letter of Credit | $ 7,100,000 | |||||||||||||
Judicial Ruling [Member] | CRG Loan Agreement, Texas Case [Member] | ||||||||||||||
Loss Contingency, Damages Awarded, Value, Additional Amount | $ 7,000,000 | 7,000,000 | ||||||||||||
Loss Contingency, Damages Awarded, Value, Amount not Taken into Consideration | 4,100,000 | |||||||||||||
Judicial Ruling [Member] | CRG Loan Agreement, Texas Case [Member] | Maximum [Member] | ||||||||||||||
Loss Contingency, Damages Awarded, Value | 66,000,000 | 66,000,000 | ||||||||||||
Platinum Loan Agreement [Member] | ||||||||||||||
Interest Expense, Debt, Excluding Amortization | 129,000 | 211,000 | ||||||||||||
Reclassification of Interest Expense, Debt, Excluding Amortization, to Discontinued Operations | 143,000 | |||||||||||||
Convertible Debt, Fair Value Disclosures | 2,000,000 | 2,200,000 | 2,200,000 | |||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 0 | 0 | 0 | |||||||||||
Term Loan Agreement [Member] | Judicial Ruling [Member] | CRG Loan Agreement, Texas Case [Member] | ||||||||||||||
Repayments of Debt | $ 59,000,000 | |||||||||||||
Notes Payable Issued for Prepayment of Insurance Premiums [Member] | ||||||||||||||
Notes Payable, Current, Total | $ 318,000 | 0 | 0 | |||||||||||
Notes Payable Issued for Prepayment of Insurance Premiums [Member] | IPFS [Member] | ||||||||||||||
Debt Instrument, Face Amount | $ 396,000 | $ 348,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 8.99% | ||||||||||||
Debt Instrument, Term | 300 days | 240 days | ||||||||||||
Debt Instrument, Periodic Payment, Total | $ 40,000 | $ 45,000 | ||||||||||||
PPCO [Member] | Platinum Loan Agreement [Member] | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000,000 | |||||||||||||
Repayments of Debt | $ 7,700,000 | |||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease), Total | $ 0 | $ 0 | $ 0 | $ (153,000) | ||||||||||
CRG [Member] | Term Loan Agreement [Member] | Judicial Ruling [Member] | CRG Loan Agreement, Texas Case [Member] | ||||||||||||||
Repayments of Debt | $ 59,000,000 | $ 59,000,000 | ||||||||||||
CRG [Member] | Term Loan Agreement [Member] | Term Loan [Member] | ||||||||||||||
Long-term Debt, Total | $ 50,000,000 |
Note 10 - Terminated Lease Li_3
Note 10 - Terminated Lease Liability (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Sep. 30, 2018 | Jun. 01, 2017 | |
Gain (Loss) on Contract Termination | $ (399,000) | ||
Lease Termination of Blazer [Member] | |||
Terminated Lease Liability | 695,307 | $ 604,402 | $ 1,000,000 |
Lease Termination of Blazer [Member] | Selling, General and Administrative Expenses [Member] | |||
Gain (Loss) on Disposition of Assets, Total | $ (706,000) |
Note 10 - Terminated Lease Li_4
Note 10 - Terminated Lease Liability - Summary of Changes in Terminated Lease Liability (Details) - Lease Termination of Blazer [Member] | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Total liability, January 1, 2018 | $ 695,307 |
Changes in estimated future payments | (43,393) |
Payments under Blazer lease | (349,290) |
Receipts from subtenant | 273,869 |
Accretion of liability | 27,909 |
Total liability, September 30, 2018 | $ 604,402 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Details Textual) - USD ($) | Aug. 14, 2018 | Apr. 12, 2018 | Apr. 09, 2018 | Mar. 26, 2018 | Jan. 16, 2018 | Nov. 02, 2017 | Mar. 31, 2017 | Mar. 03, 2017 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 |
Stockholders' Equity Attributable to Parent, Ending Balance | $ 11,379,630 | $ 1,341,696 | $ 2,100,000 | ||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||||||||
Former Chief Executive Officer and President [Member] | |||||||||||||
Severance Costs, Payable | $ 978,000 | ||||||||||||
Severance Costs , Payable Period | 2 years | ||||||||||||
Severance Costs, Payable for Continuation of Healthcare Coverage | $ 35,000 | ||||||||||||
Severance Costs, Payable, Period for Healthcare Coverage | 1 year 120 days | ||||||||||||
Common Stock Shares Provided by Agreement | 23,500,000 | ||||||||||||
Former Chief Executive Officer and President [Member] | MT [Member] | Common Stock [Member] | Scenario, Forecast [Member] | |||||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 5.00% | ||||||||||||
CRG [Member] | |||||||||||||
Draws on Letter of Credit | $ 7,100,000 | ||||||||||||
CRG Loan Agreement, Texas Case [Member] | Judicial Ruling [Member] | |||||||||||||
Loss Contingency, Damages Awarded, Value, Additional Amount | $ 7,000,000 | $ 7,000,000 | |||||||||||
Loss Contingency, Damages Awarded, Value, Amount not Taken into Consideration | 4,100,000 | ||||||||||||
CRG Loan Agreement, Texas Case [Member] | Judicial Ruling [Member] | Surety Bond [Member] | |||||||||||||
Loss Contingency, Amount Awarded to Other Party | $ 7,700,000 | ||||||||||||
CRG Loan Agreement, Texas Case [Member] | Pending Litigation [Member] | |||||||||||||
Loss Contingency, Damages Awarded, Value, Amount not Taken into Consideration | $ 4,100,000 | ||||||||||||
Loss Contingency, Damages Awarded,Value, Requested Modified Amount | $ 2,900,000 | ||||||||||||
CRG Loan Agreement, Ohio Case [Member] | Pending Litigation [Member] | |||||||||||||
Loss Contingency, Damages Sought, Value | $ 4,100,000 | ||||||||||||
Platinum-Montaur Life Sciences LLC Litigation [Member] | Pending Litigation [Member] | |||||||||||||
Loss Contingency, Damages Sought, Value | $ 1,900,000 | ||||||||||||
Maximum [Member] | CRG Loan Agreement, Texas Case [Member] | Judicial Ruling [Member] | |||||||||||||
Loss Contingency, Damages Awarded, Value | 66,000,000 | $ 66,000,000 | |||||||||||
Term Loan Agreement [Member] | CRG Loan Agreement, Texas Case [Member] | Judicial Ruling [Member] | |||||||||||||
Repayments of Debt | $ 59,000,000 | ||||||||||||
CRG [Member] | Term Loan Agreement [Member] | CRG Loan Agreement, Texas Case [Member] | Judicial Ruling [Member] | |||||||||||||
Repayments of Debt | 59,000,000 | $ 59,000,000 | |||||||||||
CRG [Member] | Term Loan Agreement [Member] | Maximum [Member] | |||||||||||||
Debt Instrument, Agreed-upon Final Payoff Amount | $ 66,000,000 |
Note 12 - Equity Instruments (D
Note 12 - Equity Instruments (Details Textual) - USD ($) | Sep. 13, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | ||
Stock Issued During Period, Shares, Employee Benefit Plan | 94,684 | 105,308 | ||
Issuance of Stock to Defined Contribution Plan for Employer Matching Contribution | $ 35,980 | $ 53,707 | ||
Common Stock [Member] | ||||
Stock Issued During Period, Shares, Employee Benefit Plan | 94,684 | |||
Employees [Member] | Common Stock [Member] | ||||
Stock Issued During Period, Shares, Issued for Services | 1,118,760 | 710,353 | ||
Stock Issued During Period, Value, Issued for Services | $ 317,000 | $ 369,000 | ||
Director [Member] | Common Stock [Member] | ||||
Stock Issued During Period, Shares, Issued for Services | 0 | 16,406 | ||
Stock Issued During Period, Value, Issued for Services | $ 10,500 | |||
Private Placement [Member] | ||||
Stock Issued During Period, Shares, New Issues | 18,320,610 | 18,320,610 | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | |||
Stock Issued During Period, Value, New Issues | $ 3,000,000 | $ 3,000,000 | ||
Private Placement [Member] | Common Stock [Member] | ||||
Stock Issued During Period, Shares, New Issues | 18,320,610 | |||
Stock Issued During Period, Value, New Issues | $ 18,321 |
Note 13 - Stock Warrants (Detai
Note 13 - Stock Warrants (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | ||
Mar. 31, 2017 | Jan. 31, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Series NN Warrants [Member] | ||||
Class of Warrant or Right, Term | 5 years | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.50 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 77.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.00% | |||
Series NN Warrants [Member] | Cardinal Health 414 [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 10,000,000 | |||
Class of Warrant or Right, Grants in Period, Estimated Fair Value | $ 3,300,000 | |||
Series NN Warrants [Member] | UCSD [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,000,000 | 1,000,000 | ||
Class of Warrant or Right, Grants in Period, Estimated Fair Value | $ 334,000 | |||
Warrants to Purchase Navidea Common Stock [Member] | ||||
Class of Warrant or Right, Outstanding | 16,400,000 | |||
Warrants to Purchase Navidea Common Stock [Member] | Minimum [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | |||
Class of Warrant or Right, Outstanding Term | 1 year | |||
Warrants to Purchase Navidea Common Stock [Member] | Maximum [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.50 | |||
Class of Warrant or Right, Outstanding Term | 17 years | |||
Warrants to Purchase Navidea Common Stock [Member] | Weighted Average [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.15 | |||
Warrants to Purchase MT Common Stock [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2,000 | |||
Class of Warrant or Right, Outstanding | 300 | |||
Chief Executive Officer [Member] | ||||
Class of Warrant or Right, Exercises in Period | 5,411,850 | |||
Stock Issued During Period, Shares, Issued for Exercise of Warrants | 5,411,850 | |||
Proceeds from Warrant Exercises | $ 54,119 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |||
Tax rate, Sequestration Reduction | 6.20% | ||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 76,000 | ||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | 0 | $ 0 | ||
Income Tax Expense (Benefit), Total | $ 76,259 | $ (775,750) | 65,330 | $ (3,861,156) | |
Effective Income Tax Rate Reconciliation, Percent, Total | 2.00% | 34.00% | |||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||
Operating Loss Carryforwards, Total | $ 131,800,000 | 131,800,000 | |||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Research Tax Credit Carryforward [Member] | |||||
Tax Credit Carryforward, Amount | 9,700,000 | 9,700,000 | |||
State and Local Jurisdiction [Member] | |||||
Operating Loss Carryforwards, Total | 20,400,000 | $ 20,400,000 | |||
Earliest Tax Year [Member] | |||||
Open Tax Year | 2,014 | ||||
Latest Tax Year [Member] | |||||
Open Tax Year | 2,017 | ||||
Other Noncurrent Liabilities [Member] | |||||
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | $ 1,100,000 | $ 1,100,000 | |||
Other Noncurrent Assets [Member] | |||||
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | $ 1,200,000 |
Note 15 - Segments (Details Tex
Note 15 - Segments (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | ||
Revenues, Total | $ 231,458 | $ 223,669 | $ 1,050,030 | $ 1,415,298 | |
Number of Primary Types of Products Sold | 2 | 2 | |||
Depreciation, Depletion and Amortization, Nonproduction, Total | [1] | $ 37,590 | 50,326 | $ 113,088 | 197,655 |
Selling, General and Administrative Expenses [Member] | |||||
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 37,590 | $ 50,326 | 113,088 | $ 197,655 | |
Intersegment Eliminations [Member] | |||||
Revenues, Total | $ 0 | ||||
[1] | Depreciation and amortization is reflected in selling, general and administrative expenses ($37,590 and $50,326 for the three-month periods ended September 30, 2018 and 2017, and $113,088 and $197,655 for the nine-month periods ended September 30, 2018 and 2017, respectively). |
Note 15 - Segments - Segment In
Note 15 - Segments - Segment Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |||||
Revenue from contract with customer | $ 22,000 | $ 287,000 | |||||||
Grant and other revenue | 209,146 | $ 223,669 | 762,549 | $ 1,315,298 | |||||
Revenue | 231,458 | 223,669 | 1,050,030 | 1,415,298 | |||||
Cost of revenue | 38,101 | 73,811 | |||||||
Research and development expenses | 1,225,770 | 874,547 | 3,367,444 | 2,765,695 | |||||
Selling, general and administrative expenses, excluding depreciation and amortization | [1] | 2,651,113 | 1,684,381 | 6,141,386 | 8,809,070 | ||||
Depreciation, Depletion and Amortization, Nonproduction, Total | [2] | 37,590 | 50,326 | 113,088 | 197,655 | ||||
Loss from operations | (3,721,116) | [3] | (2,385,585) | (8,645,699) | [3] | (10,357,122) | [3] | ||
Other expense | (24,534) | [4] | 69,071 | (4,284,014) | [4] | (1,061,190) | [4] | ||
Income tax expense | (76,259) | 775,750 | (65,330) | 3,861,156 | |||||
Net loss from continuing operations | (3,821,909) | (1,540,764) | (12,995,043) | (7,557,156) | |||||
Net income (loss) | (3,821,909) | (1,389,488) | (12,953,928) | 79,004,006 | |||||
Total assets, net of depreciation and amortization | 9,109,042 | 9,109,042 | $ 20,781,436 | ||||||
Capital expenditures | 16,152 | 23,247 | 19,317 | 31,417 | |||||
Other income | (24,534) | [4] | 69,071 | (4,284,014) | [4] | (1,061,190) | [4] | ||
(Loss) income from discontinued operations | 5,399 | (1,938) | (332,838) | ||||||
Gain on sale of discontinued operations, net of tax | 145,877 | 43,053 | 86,894,000 | ||||||
Net loss | (3,821,909) | (1,389,488) | (12,953,928) | 79,004,006 | |||||
UNITED STATES | |||||||||
Total assets, net of depreciation and amortization | 9,089,645 | 22,521,506 | 9,089,645 | 22,521,506 | |||||
Non-US [Member] | |||||||||
Total assets, net of depreciation and amortization | 19,397 | 84,201 | 19,397 | 84,201 | |||||
Royalty [Member] | |||||||||
Revenue from contract with customer | 2,382 | 9,842 | |||||||
License [Member] | |||||||||
Revenue from contract with customer | 19,930 | 277,639 | 100,000 | ||||||
Diagnostics Segment [Member] | |||||||||
Grant and other revenue | 65,505 | 210,479 | 454,830 | 1,200,216 | |||||
Revenue | 87,817 | 742,311 | 1,300,216 | ||||||
Cost of revenue | 38,101 | 73,811 | |||||||
Research and development expenses | 711,355 | 734,539 | 2,409,524 | 2,255,842 | |||||
Selling, general and administrative expenses, excluding depreciation and amortization | [1] | ||||||||
Depreciation, Depletion and Amortization, Nonproduction, Total | [2] | ||||||||
Loss from operations | (661,639) | [3] | (524,060) | (1,741,024) | [3] | (955,626) | [3] | ||
Other expense | [4] | [4] | [4] | ||||||
Income tax expense | (10,081) | 175,496 | (8,797) | 323,149 | |||||
Net loss from continuing operations | (671,720) | (348,564) | (1,749,821) | (632,477) | |||||
Net income (loss) | (671,720) | (197,288) | (1,708,706) | 85,928,685 | |||||
Capital expenditures | |||||||||
Other income | [4] | [4] | [4] | ||||||
(Loss) income from discontinued operations | 5,399 | (1,938) | (332,838) | ||||||
Gain on sale of discontinued operations, net of tax | 145,877 | 43,053 | 86,894,000 | ||||||
Net loss | (671,720) | (197,288) | (1,708,706) | 85,928,685 | |||||
Diagnostics Segment [Member] | UNITED STATES | |||||||||
Total assets, net of depreciation and amortization | 117,722 | 14,675,489 | 117,722 | 14,675,489 | |||||
Diagnostics Segment [Member] | Non-US [Member] | |||||||||
Total assets, net of depreciation and amortization | 18,239 | 82,334 | 18,239 | 82,334 | |||||
Diagnostics Segment [Member] | Royalty [Member] | |||||||||
Revenue from contract with customer | 2,382 | 9,842 | |||||||
Diagnostics Segment [Member] | License [Member] | |||||||||
Revenue from contract with customer | 19,930 | 277,639 | 100,000 | ||||||
Therapeutics Segment [Member] | |||||||||
Grant and other revenue | 143,641 | 13,190 | 307,719 | 115,082 | |||||
Revenue | 143,641 | 307,719 | 115,082 | ||||||
Cost of revenue | |||||||||
Research and development expenses | 514,415 | 140,008 | 957,920 | 509,853 | |||||
Selling, general and administrative expenses, excluding depreciation and amortization | [1] | 20,532 | 13,359 | 45,769 | 19,342 | ||||
Depreciation, Depletion and Amortization, Nonproduction, Total | [2] | ||||||||
Loss from operations | (391,306) | [3] | (140,177) | (695,970) | [3] | (414,113) | [3] | ||
Other expense | [4] | [4] | [4] | ||||||
Income tax expense | (3,879) | 46,942 | (3,517) | 140,034 | |||||
Net loss from continuing operations | (395,185) | (93,235) | (699,487) | (274,079) | |||||
Net income (loss) | (395,185) | (93,235) | (699,487) | (274,079) | |||||
Capital expenditures | |||||||||
Other income | [4] | [4] | [4] | ||||||
(Loss) income from discontinued operations | |||||||||
Gain on sale of discontinued operations, net of tax | |||||||||
Net loss | (395,185) | (93,235) | (699,487) | (274,079) | |||||
Therapeutics Segment [Member] | UNITED STATES | |||||||||
Total assets, net of depreciation and amortization | 72,622 | 10,591 | 72,622 | 10,591 | |||||
Therapeutics Segment [Member] | Non-US [Member] | |||||||||
Total assets, net of depreciation and amortization | |||||||||
Therapeutics Segment [Member] | Royalty [Member] | |||||||||
Revenue from contract with customer | |||||||||
Therapeutics Segment [Member] | License [Member] | |||||||||
Revenue from contract with customer | |||||||||
Corporate Segment [Member] | |||||||||
Grant and other revenue | |||||||||
Revenue | |||||||||
Cost of revenue | |||||||||
Research and development expenses | |||||||||
Selling, general and administrative expenses, excluding depreciation and amortization | [1] | 2,630,581 | 1,671,022 | 6,095,617 | 8,789,728 | ||||
Depreciation, Depletion and Amortization, Nonproduction, Total | [2] | 37,590 | 50,326 | 113,088 | 197,655 | ||||
Loss from operations | (2,668,171) | [3] | (1,721,348) | (6,208,705) | [3] | (8,987,383) | [3] | ||
Other expense | (24,534) | [4] | 69,071 | (4,284,014) | [4] | (1,061,190) | [4] | ||
Income tax expense | (62,299) | 553,312 | (53,017) | 3,397,972 | |||||
Net loss from continuing operations | (2,755,004) | (1,098,965) | (10,545,736) | (6,650,601) | |||||
Net income (loss) | (2,755,004) | (1,098,965) | (10,545,736) | (6,650,601) | |||||
Capital expenditures | 16,152 | 23,247 | 19,317 | 31,417 | |||||
Other income | (24,534) | [4] | 69,071 | (4,284,014) | [4] | (1,061,190) | [4] | ||
(Loss) income from discontinued operations | |||||||||
Gain on sale of discontinued operations, net of tax | |||||||||
Net loss | (2,755,004) | (1,098,965) | (10,545,736) | (6,650,601) | |||||
Corporate Segment [Member] | UNITED STATES | |||||||||
Total assets, net of depreciation and amortization | 8,899,301 | 7,835,426 | 8,899,301 | 7,835,426 | |||||
Corporate Segment [Member] | Non-US [Member] | |||||||||
Total assets, net of depreciation and amortization | 1,158 | $ 1,867 | 1,158 | 1,867 | |||||
Corporate Segment [Member] | Royalty [Member] | |||||||||
Revenue from contract with customer | |||||||||
Corporate Segment [Member] | License [Member] | |||||||||
Revenue from contract with customer | |||||||||
[1] | General and administrative expenses, excluding depreciation and amortization, represent costs that relate to the general administration of the Company and as such are not currently allocated to our individual reportable segments. | ||||||||
[2] | Depreciation and amortization is reflected in selling, general and administrative expenses ($37,590 and $50,326 for the three-month periods ended September 30, 2018 and 2017, and $113,088 and $197,655 for the nine-month periods ended September 30, 2018 and 2017, respectively). | ||||||||
[3] | Income (loss) from operations does not reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments, other than those expenses directly incurred by MT. | ||||||||
[4] | Amounts consist primarily of losses on debt extinguishment and changes in fair value of financial instruments, which are not currently allocated to our individual reportable segments. |
Note 16 - Supplemental Disclo_2
Note 16 - Supplemental Disclosure for Statements of Cash Flows (Details Textual) - USD ($) | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Mar. 31, 2017 | |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 8,000 | $ 7,400,000 | |
Stock Issued During Period, Shares, Employee Benefit Plan | 94,684 | 105,308 | |
Issuance of Stock to Defined Contribution Plan for Employer Matching Contribution | $ 35,980 | $ 53,707 | |
Series NN Warrants [Member] | UCSD [Member] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,000,000 | 1,000,000 | |
Class of Warrant or Right, Grants in Period, Estimated Fair Value | $ 334,000 |