Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 10, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | CESCA THERAPEUTICS INC. | |
Entity Central Index Key | 811,212 | |
Trading Symbol | kool | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 20,649,147 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 3,071,000 | $ 3,513,000 |
Accounts receivable, net of allowance for doubtful accounts of $281,000 ($274,000 at December 31, 2017) | 1,814,000 | 1,687,000 |
Accounts receivable – related party | 30,000 | 862,000 |
Inventories, net of reserves of $0 ($1,069,000 at December 31, 2017) | 5,156,000 | 4,798,000 |
Prepaid expenses and other current assets | 335,000 | 594,000 |
Total current assets | 10,406,000 | 11,454,000 |
Restricted cash | 1,000,000 | 1,000,000 |
Equipment, net | 3,466,000 | 2,996,000 |
Goodwill | 1,281,000 | 13,976,000 |
Intangible assets, net | 7,039,000 | 21,629,000 |
Other assets | 51,000 | 56,000 |
Total assets | 23,243,000 | 51,111,000 |
Current liabilities: | ||
Accounts payable | 2,048,000 | 2,079,000 |
Accrued payroll and related expenses | 581,000 | 532,000 |
Deferred revenue | 718,000 | 384,000 |
Related party payable | 606,000 | |
Other current liabilities | 2,053,000 | 1,863,000 |
Total current liabilities | 5,400,000 | 5,464,000 |
Long-term debt-related party | 7,200,000 | 6,700,000 |
Noncurrent deferred tax liability | 1,279,000 | 4,730,000 |
Derivative obligations | 30,000 | 597,000 |
Other non-current liabilities | 371,000 | 408,000 |
Total liabilities | 14,280,000 | 17,899,000 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 2,000,000 shares authorized, none outstanding | ||
Common stock, $0.001 par value; 350,000,000 shares authorized; 20,649,147 issued and outstanding (10,872,428 at December 31, 2017) | 21,000 | 11,000 |
Paid in capital in excess of par | 227,694,000 | 221,371,000 |
Accumulated deficit | (217,337,000) | (187,640,000) |
Accumulated other comprehensive loss | (15,000) | (43,000) |
Total Cesca Therapeutics Inc. stockholders’ equity | 10,363,000 | 33,699,000 |
Noncontrolling interests | (1,400,000) | (487,000) |
Total equity | 8,963,000 | 33,212,000 |
Total liabilities and stockholders’ equity | $ 23,243,000 | $ 51,111,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Accounts receivable, allowance for doubtful accounts | $ 281,000 | $ 274,000 |
Inventories, reserves | $ 1,069,000 | |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
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) | 350,000,000 | 350,000,000 |
Common stock, shares issued (in shares) | 20,649,147 | 10,872,428 |
Common stock, shares outstanding (in shares) | 20,649,147 | 10,872,428 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net revenues | $ 2,004,000 | $ 3,501,000 | $ 3,871,000 | $ 6,753,000 |
Cost of revenues | 1,641,000 | 1,973,000 | 3,156,000 | 3,848,000 |
Gross profit | 363,000 | 1,528,000 | 715,000 | 2,905,000 |
Expenses: | ||||
Sales and marketing | 359,000 | 421,000 | 685,000 | 756,000 |
Research and development | 908,000 | 566,000 | 1,949,000 | 1,133,000 |
General and administrative | 2,399,000 | 1,963,000 | 4,641,000 | 4,601,000 |
Impairment of intangible asset | 27,202,000 | 310,000 | 27,202,000 | 310,000 |
Total operating expenses | 30,868,000 | 3,260,000 | 34,477,000 | 6,800,000 |
Loss from operations | (30,505,000) | (1,732,000) | (33,762,000) | (3,895,000) |
Interest expense | (383,000) | (112,000) | (743,000) | (131,000) |
Change in fair value of derivative instruments | 308,000 | 44,000 | 567,000 | 113,000 |
Other expenses | (32,000) | (27,000) | (44,000) | (11,000) |
Total other expense | (107,000) | (95,000) | (220,000) | (29,000) |
Loss before benefit for income taxes | (30,612,000) | (1,827,000) | (33,982,000) | (3,924,000) |
Benefit for income taxes | 3,451,000 | 673,000 | 3,451,000 | 673,000 |
Net loss | (27,161,000) | (1,154,000) | (30,531,000) | (3,251,000) |
Loss attributable to noncontrolling interests | (503,000) | (913,000) | ||
Net loss attributable to common stockholders | (26,658,000) | (1,154,000) | (29,618,000) | (3,251,000) |
Net loss | (27,161,000) | (1,154,000) | (30,531,000) | (3,251,000) |
Foreign currency translation adjustments | 21,000 | 1,000 | 28,000 | (1,000) |
Comprehensive loss | (27,140,000) | (1,153,000) | (30,503,000) | (3,252,000) |
Comprehensive loss attributable to noncontrolling interests | (503,000) | (913,000) | ||
Comprehensive loss attributable to common stockholders | $ (26,637,000) | $ (1,153,000) | $ (29,590,000) | $ (3,252,000) |
Per share data: | ||||
Basic and diluted net loss per common share (in dollars per share) | $ (1.73) | $ (0.12) | $ (2.25) | $ (0.33) |
Weighted average common shares outstanding – basic and diluted (in shares) | 15,444,120 | 9,909,056 | 13,184,375 | 9,898,304 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (30,531,000) | $ (3,251,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 333,000 | 357,000 |
Stock based compensation expense | 300,000 | 428,000 |
Recovery of reserve for excess and slow-moving inventories | (252,000) | (144,000) |
Change in fair value of derivative | (567,000) | (113,000) |
Deferred income tax benefit | 3,451,000 | 673,000 |
Loss on disposal of equipment | 420,000 | 176,000 |
Impairment of intangible asset | 27,202,000 | 310,000 |
Net change in operating assets and liabilities: | ||
Accounts receivable | 869,000 | (671,000) |
Inventories | (358,000) | (196,000) |
Prepaid expenses and other current assets | 257,000 | 37,000 |
Accounts payable | (242,000) | (475,000) |
Related party payable | (606,000) | 606,000 |
Accrued payroll and related expenses | 50,000 | (1,235,000) |
Deferred revenue | 254,000 | 194,000 |
Other current liabilities | 217,000 | (41,000) |
Other noncurrent liabilities | 3,000 | 46,000 |
Net cash used in operating activities | (6,102,000) | (4,645,000) |
Capital expenditures | (850,000) | (99,000) |
Net cash used in investing activities | (850,000) | (99,000) |
Cash flows from financing activities: | ||
Payments on capital lease obligations | (19,000) | (24,000) |
Proceeds from long-term related party debt | 500,000 | 3,500,000 |
Payment of financing cost | (13,000) | |
Proceeds from issuance of common stock, net | 6,032,000 | |
Net cash provided by financing activities | 6,513,000 | 3,463,000 |
Effects of foreign currency rate changes on cash and cash equivalents | (3,000) | 5,000 |
Net change in cash and cash equivalents | (442,000) | (1,276,000) |
Cash and cash equivalents at beginning of period | 3,513,000 | 4,899,000 |
Cash and cash equivalents at end of period | 3,071,000 | 3,623,000 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 657,000 | |
Supplemental non-cash financing and investing information: | ||
Transfer of equipment to inventories | 172,000 | 625,000 |
Transfer of inventories to equipment | $ 420,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Basis of Presentation and Summary of Significant Accounting Policies Organization and Basis of Presentation Cesca Therapeutics Inc. (“Cesca Therapeutics,” “Cesca,” the “Company”), a Delaware corporation, develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. The Company was founded in 1986 ® ® Cesca is an affiliate of the Boyalife Group, a China-based industry research alliance encompassing top research institutions for stem cell and regenerative medicine. Liquidity and Going Concern The Company has a Revolving Credit Agreement (the “Credit Agreement”) with Boyalife Asset Holding II, Inc. (Refer to Note 4 June 30, 2018, $7,200,000 $10,000,000 may On May 18, 2018, 6,475,001 2,691,666 $0.60 $5,500,000, $4,819,000 $681,000. one $0.001 one one one one one one $0.60 five As of June 30, 2018, 2,691,666 May 2018 At June 30, 2018, $3,071,000 $5,006,000. June 30, 2018 $217,337,000. one The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern; however, the above conditions raise substantial doubt about the Company’s ability to do so. The condensed consolidated financial statements do not may Principles of Consolidation The condensed consolidated financial statements include the accounts of Cesca, its majority-owned subsidiary, ThermoGenesis, and its wholly-owned subsidiaries, TotipotentRX Cell Therapy, Pvt. Ltd. and TotipotentSC Scientific Product Pvt. Ltd. All significant intercompany accounts and transactions have been eliminated upon consolidation. Interim Reporting The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with the instructions to Form 10 10 X. six June 30, 2018, not may December 31, 2018. 10 December 31, 2017. Reclassification Certain prior period amounts have been reclassified to conform to current period presentation. The reclassifications did not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Recently Issued Accounting Standards In January 2017, 2017 04 Simplifying the Test for Goodwill Impairment 2 December 15, 2019. January 1, 2017. not 2017 04 In February 2016, 2016 02, “Leases (Topic 842 2016 02 2016 02 December 15, 2018 not 2016 02 Recently Adopted Accounting Standards In July 2017, No. 2017 11, Earnings Per Share (Topic 260 480 815 2017 11 may no 2017 11 December 15, 2018, 2017 11 2017 11 April 1, 2018. April 1, 2018, not not April 16, 2018, 2017 11 4 Sequencing Policy Under ASC 815 40 35, 815 first 815, not On January 1, 2018, No. 2014 09, Revenue from Contracts with Customers (Topic 606 not January 1, 2018. January 1, 2018 No. 2014 09, not 605 $79,000 January 1, 2018 606, 606 Revenue Recognition Revenue is recognized based on the five 606: Step 1 Step 2 not Step 3 Step 4 one Step 5 Disaggregation of Revenue The Company’s primary revenue streams include device sales, service revenue from device maintenance contracts and clinical services. Device Sales Device sales include devices and consumables for BioArchive, AXP ®, X not Service Revenue Service revenue consists primarily of maintenance contracts for BioArchive, AXP and X one two X one three not Clinical Services Service revenue in our Clinical Development Segment includes point of care procedures and cord blood processing and storage in our clinical segment. Point of care procedures are recognized when the procedures are performed. Cord blood processing and storage is recognized as the performance obligations are satisfied. Processing revenue is recognized when that performance obligation is completed immediately after the baby’s birth, with storage revenue recorded as deferred revenue and recognized ratably over time for up to 21 June 30, 2018, $269,000 may The following table summarizes the revenues of the Company’s reportable segments for the three six June 30, 2018: Three Months Ended June 30, 2018 Device Revenue Service Revenue Other Revenue Total Revenue Device Segment: AXP $ 879,000 $ 66,000 $ -- $ 945,000 BioArchive 449,000 311,000 -- 760,000 Manual Disposables 229,000 -- -- 229,000 Other 8,000 -- 16,000 24,000 Total Device Segment 1,565,000 377,000 16,000 1,958,000 Clinical Development Segment: Manual Disposables 1,000 -- -- 1,000 Bone Marrow -- 38,000 -- 38,000 Other -- 7,000 -- 7,000 Total Clinical Development 1,000 45,000 -- 46,000 Total $ 1,566,000 $ 422,000 $ 16,000 $ 2,004,000 Six Months Ended June 30, 2018 Device Revenue Service Revenue Other Revenue Total Revenue Device Segment: AXP $ 1,564,000 $ 131,000 $ -- $ 1,695,000 BioArchive 872,000 655,000 -- 1,527,000 Manual Disposables 462,000 -- -- 462,000 Other 46,000 -- 33,000 79,000 Total Device Segment 2,944,000 786,000 33,000 3,763,000 Clinical Development Segment: Manual Disposables 23,000 -- -- 23,000 Bone Marrow -- 61,000 -- 61,000 Other -- 24,000 -- 24,000 Total Clinical Development 23,000 85,000 -- 108,000 Total $ 2,967,000 $ 871,000 $ 33,000 $ 3,871,000 Performance Obligations There is no no not may not Payments from domestic customers are normally due in two may 120 no Contract Balances The Company records a receivable when the titles of goods have transferred, maintenance contracts have been fully executed or when services have been rendered. Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not $207,000. $384,000 $718,000 six June 30, 2018 Backlog of Remaining Customer Performance Obligations The following table includes revenue expected to be recognized and recorded as sales in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. Remainder of 2018 2019 2020 2021 and beyond Total Service revenue $ 749,000 $ 683,000 $ 209,000 $ -- $ 1,641,000 Clinical revenue 7,000 15,000 15,000 232,000 269,000 Total $ 756,000 $ 698,000 $ 224,000 $ 232,000 $ 1,910,000 Revenues are net of normal discounts. Shipping and handling fees billed to customers are included in net revenues, while the related costs are included in cost of revenues. Goodwill, Intangible Assets and Im pairment Assessments For goodwill and indefinite-lived intangible assets (clinical protocols), the carrying amounts are periodically reviewed for impairment (at least annually) and whenever events or changes in circumstances indicate that the carrying value of these assets may not ASC) 350, not 50 2 In the second 2018, June 30, 2018 3 The Company recorded an impairment charge of $12,695,000 $14,507,000 June 30, 2018, Intangible Assets Goodwill Balance at December 31, 2017, net $ 21,629,000 $ 13,976,000 Amortization and foreign exchange (current year) (83,000 ) -- Impairment loss (14,507,000 ) (12,695,000 ) Balance at June 30, 2018, net $ 7,039,000 $ 1,281,000 Fair Value Measurements In accordance with ASC 820, Fair Value Measurements and Disclosures The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. The guidance establishes three may Level 1: Level 2: Level 3: The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short duration. The fair value of the Company’s derivative obligation liability is classified as Level 3 Segment Reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the Chief Operating Decision Maker (CODM), or decision making group, whose function is to allocate resources to and assess the performance of the operating segments. The Company has identified its chief executive officer and chief operating officer as the CODM. In determining its reportable segments, the Company considered the markets and the products or services provided to those markets. The Company has two ● The Clinical Development Division, is developing autologous (utilizing the patient’s own cells) stem cell-based therapeutics that address significant unmet medical needs for applications within the vascular, cardiology and orthopedic markets. ● The Device Division, engages in the development and commercialization of automated technologies for cell-based therapeutics and bio-processing. The device division is operated through the Company’s ThermoGenesis subsidiary. Net Loss per Share Net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding. The calculation of the basic and diluted earnings per share is the same for all periods presented, as the effect of the potential common stock equivalents is anti-dilutive due to the Company’s net loss position for all periods presented. Anti-dilutive securities consisted of the following at June 30: 2018 2017 Vested Series A warrants 404,412 404,412 Unvested Series A warrants (1) 698,529 698,529 Warrants – other 13,197,267 3,725,782 Stock options 1,200,470 397,388 Restricted stock units -- 59,694 Total 15,500,678 5,285,805 ( 1 The unvested Series A warrants were subject to vesting based upon the amount of funds actually received by the Company in the second August 2015 February 2021. |
Note 3 - Acquisition of SynGen
Note 3 - Acquisition of SynGen Inc. | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3. Acquisition of SynGen Inc. On July 7, 2017, The business acquired in the Transaction excludes certain assets and liabilities of SynGen that ThermoGenesis did not The acquisition was accounted for under the acquisition method of accounting for business combinations which requires, among other things, that the assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The consideration for the Transaction consisted of $1,000,000 2,000,000 20% $2,528,000. 2,000,000 first Supplemental Pro Forma Data The Company used the acquisition method of accounting to account for the SynGen acquisition and, accordingly, the results of SynGen are included in the Company’s consolidated financial statements for the period subsequent to the date of acquisition. For the three six June 30, 2018, $19,000 $49,000 three six June 30, 2017 January 1, 2017. Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Net revenues $ 3,758,000 $ 7,138,000 Net loss $ (1,712,000 ) $ (3,960,000 ) Basic and diluted net loss per common share $ (0.17 ) $ (0.40 ) The unaudited pro forma financial information reflects certain adjustments related to the acquisition, such as the incremental amortization expense in connection with recording acquired identifiable intangible assets at fair value, the revised payroll expense associated with the new salaries of SynGen employees resulting from the merger, the elimination of SynGen expenses related to debt issuance costs, interest and other warrant related expenses, the elimination of the legal fees paid by both parties related to the litigation between Cesca and SynGen as ceasing the litigation was part of the Asset Acquisition Agreement and costs directly related to the acquisition. |
Note 4 - Related Party Transact
Note 4 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 4. Related Party Transactions Revolving Credit Agreement On March 6, 2017, $10,000,000 March 6, 2022 ( $7,200,000 June 30, 2018. The Credit Agreement and the Convertible Promissory Note issued thereunder (the “Note”) provide that the principal and all accrued but unpaid interest under the Loan will be due and payable on the Maturity Date, with payments of interest-only due on the last day of each calendar year. The Loan bears interest at 22% The Credit Agreement and Note were amended on April 16, 2018. ● The Lender was granted the right to convert, at any time, outstanding principal and accrued but unpaid interest under the Credit Agreement into shares of Common Stock at a conversion price equal to $1.61 90% 10 April 2018 ● If the Company after April 16, 2018 ● The Company has been granted the right to defer payment of the $657,000 December 31, 2017 December 31, 2018, $5.0 On May 7, 2018, No. 1 No. 1 On May 18, 2018, $0.60 $1.61 $0.60. The Maturity Date of the Amended Credit Agreement is subject to acceleration at the option of the Lender upon customary events of default, which include a breach of the Loan documents, termination of operations, or bankruptcy. The Lender’s obligation to make advances under the Loan is subject to the Company’s representations and warranties in the Amended Credit Agreement continuing to be true at all times and there being no No The Company accounted for the Amended Credit Agreement as a loan modification. As discussed in Note 2, 2017 11 Accounting for Certain Financial Instruments with Down Round Features”. 2017 11 not not not June 30, 2018, $0.60 not no June 30, 2018. The Company recorded interest expense of $382,000 $742,000 three six June 30, 2018, $103,000 $122,000 three six June 30, 2017, $742,000 $657,000 June 30, 2018 December 31, 2017, Distributor Agreement On August 21, 2017, ® ® ® ® ® The term of the agreement is for three two Revenues During the three six June 30, 2018, $43,000 $269,000 $0 three six June 30 2017 Bill Payment Arrangement The Company entered into a bill payment arrangement whereby Boyalife Group Ltd. (Payor), the Company’s largest shareholder, agreed to pay the Company’s legal expenses payable to the Company’s attorney related to certain litigation involving SynGen (the “Bill Payment Arrangement”), although the Company remains jointly and severally liable for the payment of such legal fees. The terms of the Bill Payment Arrangement provided that the Company will reimburse Payor for any and all amounts paid by Payor in connection with the Bill Payment Arrangement under certain specified events. There is no $606,000 $606,000 June 30, 2018. |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 5 . Commitments and Contingencies Financial Covenants Effective May 15, 2017, one not $2,000,000. June 30, 2018. Warranty The Company offers a warranty on all of its non-disposable products of one two The warranty liability is included in other current liabilities in the unaudited condensed consolidated balance sheets. The change in the warranty liability for the six June 30, 2018 Balance at December 31, 2017 $ 291,000 Warranties issued during the period 30,000 Settlements made during the period (216,000 ) Changes in liability for pre-existing warranties during the period (5,000 ) Balance at June 30, 2018 $ 100,000 Contingencies and Restricted Cash In fiscal 2016, May 4, 2017, $1,000,000 August 2016. October 2017, $1,000,000 June 26, 2018. No no June 30, 2018. On January 31, 2018, not February 16, 2018. 609,636 304,818 March 28, 2018. 8% March 2018 8% August 16, 2018. On June 1, 2018, January 31, 2018 no $150,000 June 2018 six first In the normal course of operations, the Company may June 30, 2018, may not |
Note 6 - Derivative Obligations
Note 6 - Derivative Obligations | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Derivatives and Fair Value [Text Block] | 6. Derivative Obligations Series A Warrants Series A warrants to purchase 404,412 June 30, 2016. Series A June 30, 2018 December 31, 2017 Market price of common stock $ 0.42 $ 3.00 Expected volatility 111.2 % 107 % Contractual term (years) 2.7 3.2 Discount rate 2.60 % 1.99 % Dividend rate 0 % 0 % Exercise price $ 8.00 $ 8.00 Expected volatilities are based on the historical volatility of the Company’s common stock. Contractual term is based on remaining term of the respective warrants. The discount rate represents the yield on U.S. Treasury bonds with a maturity equal to the contractual term. The Company recorded a gain of $308,000 $567,000 three six June 30, 2018, $44,000 $113,000 three six June 30, 2017, The following table represents the Company’s fair value hierarchy for its financial liabilities measured at fair value on a recurring basis as of June 30, 2018 December 31, 2017: Derivative Obligation June 30, 2018 December 31, 2017 Balance $ 30,000 $ 597,000 Level 1 $ - $ - Level 2 $ - $ - Level 3 $ 30,000 $ 597,000 The following table reflects the change in fair value of the Company’s derivative liabilities for the six June 30, 2018: Amount Balance – December 31, 2017 $ 597,000 Change in fair value of derivative obligation (567,000 ) Balance – June 30, 2018 $ 30,000 |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 7. Stockholders’ Equity Common Stock On May 18, 2018, 6,475,001 2,691,666 $0.60 $5,500,000, $4,819,000 $681,000. one one one one one one one $0.60 five As of June 30, 2018, 2,691,666 May 2018 On March 28, 2018, 609,636 $2.27 $171,000, $1,213,000. 304,818 $2.68 six 5.5 Stock Based Compensation The Company recorded stock-based compensation of $163,000 $300,000 three six June 30, 2018, $181,000 $428,000 three six June 30, 2017, The following is a summary of option activity for the Company’s stock option plans: Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2017 1,156,027 $ 3.92 Granted 93,500 $ 2.63 Forfeited (21,875 ) $ 3.26 Expired (27,182 ) $ 4.67 Outstanding at June 30, 2018 1,200,470 $ 3.81 8.4 -- Vested and expected to vest at June 30, 2018 960,726 $ 4.02 8.1 -- Exercisable at June 30, 2018 303,348 $ 6.26 5.5 -- The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock. There were no six June 30, 2018. The fair value of the Company’s stock options granted for the six June 30, 2018 Expected life (years) 5.6 Risk-free interest rate 2.7 % Expected volatility 98 % Dividend yield 0 % Common Stock Restricted Units The following is a summary of restricted stock activity during the six June 30, 2018: Weighted Average Number of Shares Grant Date Fair Value Balance at December 31, 2017 416 $ 17.60 Granted -- -- Vested 416 17.60 Forfeited -- -- Outstanding at June 30, 2018 -- -- Warrants A summary of warrant activity for the six June 30, 2018 Number of Shares Weighted-Average Exercise Price Per Share Balance at December 31, 2017 4,828,723 $ 9.37 Warrants granted 9,471,485 0.67 Warrants canceled -- -- Warrants exercised -- -- Outstanding at June 30, 2018 14,300,208 $ 3.61 Exercisable at June 30, 2018 13,296,861 $ 3.40 At June 30, 2018, $0. |
Note 8 - Segment Reporting
Note 8 - Segment Reporting | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 8. Segment Reporting The Company has two The Device Segment is a pioneer and market leader in the development and commercialization of automated technologies for cell-based therapeutics and bio-processing. The Clinical Development Segment is developing autologous (utilizing the patient’s own cells) stem cell-based therapeutics that address significant unmet medical needs for applications within the vascular, cardiology and orthopedic markets. The following table summarizes the operating results of the Company’s reportable segments: Three Months Ended June 30, 2018 Clinical Development Device Total Net revenues $ 46,000 $ 1,958,000 $ 2,004,000 Cost of revenues 49,000 1,592,000 1,641,000 Gross profit (3,000 ) 366,000 363,000 Operating expenses 28,408,000 2,460,000 30,868,000 Operating loss $ (28,411,000 ) $ (2,094,000 ) $ (30,505,000 ) Depreciation and amortization $ 69,000 $ 105,000 $ 174,000 Impairment Charges $ 27,202,000 $ -- $ 27,202,000 Stock-based compensation expense $ 122,000 $ 41,000 $ 163,000 Three Months Ended June 30, 2017 Clinical Development Device Total Net revenues $ 113,000 $ 3,388,000 $ 3,501,000 Cost of revenues 111,000 1,862,000 1,973,000 Gross profit 2,000 1,526,000 1,528,000 Operating expenses 1,899,000 1,361,000 3,260,000 Operating loss $ (1,897,000 ) $ 165,000 $ (1,732,000 ) Depreciation and amortization $ 110,000 $ 62,000 $ 172,000 Stock-based compensation expense $ 100,000 $ 81,000 $ 181,000 Six Months Ended June 30, 2018 Clinical Development Device Total Net revenues $ 108,000 $ 3,763,000 $ 3,871,000 Cost of revenues 120,000 3,036,000 3,156,000 Gross profit (12,000 ) 727,000 715,000 Operating expenses 29,588,000 4,889,000 34,477,000 Operating loss $ (29,600,000 ) $ (4,162,000 ) $ (33,762,000 ) Depreciation and amortization $ 137,000 $ 196,000 $ 333,000 Impairment Charges $ 27,202,000 $ -- $ 27,202,000 Stock-based compensation expense $ 220,000 $ 80,000 $ 300,000 Goodwill $ 500,000 $ 781,000 $ 1,281,000 Total assets $ 12,808,000 $ 10,435,000 $ 23,243,000 Six Months Ended June 30, 2017 Clinical Development Device Total Net revenues $ 266,000 $ 6,487,000 $ 6,753,000 Cost of revenues 235,000 3,613,000 3,848,000 Gross profit 31,000 2,874,000 2,905,000 Operating expenses 3,880,000 2,920,000 6,800,000 Operating loss $ (3,849,000 ) $ (46,000 ) $ (3,895,000 ) Depreciation and amortization $ 226,000 $ 131,000 $ 357,000 Stock-based compensation expense $ 251,000 $ 177,000 $ 428,000 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9. Income Taxes The following table summarizes our benefit for income taxes and our effective tax rates for the three six June 30, 2018. Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Net loss before benefit for income taxes $ (30,612,000 ) $ (33,982,000 ) Benefit for income taxes 3,451,000 3,451,000 Effective tax rate 11.3 % 10.2 % For the three June 30, 2018, $3,451,000 three June 30, 2018. For the six June 30, 2018, $3,451,000. The Tax Cuts and Jobs Act (Jobs Act) legislation was passed in December 2017, 35% 21% June 30, 2018, not not may may may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards In January 2017, 2017 04 Simplifying the Test for Goodwill Impairment 2 December 15, 2019. January 1, 2017. not 2017 04 In February 2016, 2016 02, “Leases (Topic 842 2016 02 2016 02 December 15, 2018 not 2016 02 Recently Adopted Accounting Standards In July 2017, No. 2017 11, Earnings Per Share (Topic 260 480 815 2017 11 may no 2017 11 December 15, 2018, 2017 11 2017 11 April 1, 2018. April 1, 2018, not not April 16, 2018, 2017 11 4 Sequencing Policy Under ASC 815 40 35, 815 first 815, not On January 1, 2018, No. 2014 09, Revenue from Contracts with Customers (Topic 606 not January 1, 2018. January 1, 2018 No. 2014 09, not 605 $79,000 January 1, 2018 606, 606 |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Revenue is recognized based on the five 606: Step 1 Step 2 not Step 3 Step 4 one Step 5 Disaggregation of Revenue The Company’s primary revenue streams include device sales, service revenue from device maintenance contracts and clinical services. Device Sales Device sales include devices and consumables for BioArchive, AXP ®, X not Service Revenue Service revenue consists primarily of maintenance contracts for BioArchive, AXP and X one two X one three not Clinical Services Service revenue in our Clinical Development Segment includes point of care procedures and cord blood processing and storage in our clinical segment. Point of care procedures are recognized when the procedures are performed. Cord blood processing and storage is recognized as the performance obligations are satisfied. Processing revenue is recognized when that performance obligation is completed immediately after the baby’s birth, with storage revenue recorded as deferred revenue and recognized ratably over time for up to 21 June 30, 2018, $269,000 may The following table summarizes the revenues of the Company’s reportable segments for the three six June 30, 2018: Three Months Ended June 30, 2018 Device Revenue Service Revenue Other Revenue Total Revenue Device Segment: AXP $ 879,000 $ 66,000 $ -- $ 945,000 BioArchive 449,000 311,000 -- 760,000 Manual Disposables 229,000 -- -- 229,000 Other 8,000 -- 16,000 24,000 Total Device Segment 1,565,000 377,000 16,000 1,958,000 Clinical Development Segment: Manual Disposables 1,000 -- -- 1,000 Bone Marrow -- 38,000 -- 38,000 Other -- 7,000 -- 7,000 Total Clinical Development 1,000 45,000 -- 46,000 Total $ 1,566,000 $ 422,000 $ 16,000 $ 2,004,000 Six Months Ended June 30, 2018 Device Revenue Service Revenue Other Revenue Total Revenue Device Segment: AXP $ 1,564,000 $ 131,000 $ -- $ 1,695,000 BioArchive 872,000 655,000 -- 1,527,000 Manual Disposables 462,000 -- -- 462,000 Other 46,000 -- 33,000 79,000 Total Device Segment 2,944,000 786,000 33,000 3,763,000 Clinical Development Segment: Manual Disposables 23,000 -- -- 23,000 Bone Marrow -- 61,000 -- 61,000 Other -- 24,000 -- 24,000 Total Clinical Development 23,000 85,000 -- 108,000 Total $ 2,967,000 $ 871,000 $ 33,000 $ 3,871,000 Performance Obligations There is no no not may not Payments from domestic customers are normally due in two may 120 no Contract Balances The Company records a receivable when the titles of goods have transferred, maintenance contracts have been fully executed or when services have been rendered. Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not $207,000. $384,000 $718,000 six June 30, 2018 Backlog of Remaining Customer Performance Obligations The following table includes revenue expected to be recognized and recorded as sales in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. Remainder of 2018 2019 2020 2021 and beyond Total Service revenue $ 749,000 $ 683,000 $ 209,000 $ -- $ 1,641,000 Clinical revenue 7,000 15,000 15,000 232,000 269,000 Total $ 756,000 $ 698,000 $ 224,000 $ 232,000 $ 1,910,000 Revenues are net of normal discounts. Shipping and handling fees billed to customers are included in net revenues, while the related costs are included in cost of revenues. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill, Intangible Assets and Im pairment Assessments For goodwill and indefinite-lived intangible assets (clinical protocols), the carrying amounts are periodically reviewed for impairment (at least annually) and whenever events or changes in circumstances indicate that the carrying value of these assets may not ASC) 350, not 50 2 In the second 2018, June 30, 2018 3 The Company recorded an impairment charge of $12,695,000 $14,507,000 June 30, 2018, Intangible Assets Goodwill Balance at December 31, 2017, net $ 21,629,000 $ 13,976,000 Amortization and foreign exchange (current year) (83,000 ) -- Impairment loss (14,507,000 ) (12,695,000 ) Balance at June 30, 2018, net $ 7,039,000 $ 1,281,000 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value Measurements In accordance with ASC 820, Fair Value Measurements and Disclosures The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. The guidance establishes three may Level 1: Level 2: Level 3: The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short duration. The fair value of the Company’s derivative obligation liability is classified as Level 3 |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the Chief Operating Decision Maker (CODM), or decision making group, whose function is to allocate resources to and assess the performance of the operating segments. The Company has identified its chief executive officer and chief operating officer as the CODM. In determining its reportable segments, the Company considered the markets and the products or services provided to those markets. The Company has two ● The Clinical Development Division, is developing autologous (utilizing the patient’s own cells) stem cell-based therapeutics that address significant unmet medical needs for applications within the vascular, cardiology and orthopedic markets. ● The Device Division, engages in the development and commercialization of automated technologies for cell-based therapeutics and bio-processing. The device division is operated through the Company’s ThermoGenesis subsidiary. |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Share Net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding. The calculation of the basic and diluted earnings per share is the same for all periods presented, as the effect of the potential common stock equivalents is anti-dilutive due to the Company’s net loss position for all periods presented. Anti-dilutive securities consisted of the following at June 30: 2018 2017 Vested Series A warrants 404,412 404,412 Unvested Series A warrants (1) 698,529 698,529 Warrants – other 13,197,267 3,725,782 Stock options 1,200,470 397,388 Restricted stock units -- 59,694 Total 15,500,678 5,285,805 ( 1 The unvested Series A warrants were subject to vesting based upon the amount of funds actually received by the Company in the second August 2015 February 2021. |
Note 2 - Summary of Significa16
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 30, 2018 Device Revenue Service Revenue Other Revenue Total Revenue Device Segment: AXP $ 879,000 $ 66,000 $ -- $ 945,000 BioArchive 449,000 311,000 -- 760,000 Manual Disposables 229,000 -- -- 229,000 Other 8,000 -- 16,000 24,000 Total Device Segment 1,565,000 377,000 16,000 1,958,000 Clinical Development Segment: Manual Disposables 1,000 -- -- 1,000 Bone Marrow -- 38,000 -- 38,000 Other -- 7,000 -- 7,000 Total Clinical Development 1,000 45,000 -- 46,000 Total $ 1,566,000 $ 422,000 $ 16,000 $ 2,004,000 Six Months Ended June 30, 2018 Device Revenue Service Revenue Other Revenue Total Revenue Device Segment: AXP $ 1,564,000 $ 131,000 $ -- $ 1,695,000 BioArchive 872,000 655,000 -- 1,527,000 Manual Disposables 462,000 -- -- 462,000 Other 46,000 -- 33,000 79,000 Total Device Segment 2,944,000 786,000 33,000 3,763,000 Clinical Development Segment: Manual Disposables 23,000 -- -- 23,000 Bone Marrow -- 61,000 -- 61,000 Other -- 24,000 -- 24,000 Total Clinical Development 23,000 85,000 -- 108,000 Total $ 2,967,000 $ 871,000 $ 33,000 $ 3,871,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Remainder of 2018 2019 2020 2021 and beyond Total Service revenue $ 749,000 $ 683,000 $ 209,000 $ -- $ 1,641,000 Clinical revenue 7,000 15,000 15,000 232,000 269,000 Total $ 756,000 $ 698,000 $ 224,000 $ 232,000 $ 1,910,000 |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Intangible Assets Goodwill Balance at December 31, 2017, net $ 21,629,000 $ 13,976,000 Amortization and foreign exchange (current year) (83,000 ) -- Impairment loss (14,507,000 ) (12,695,000 ) Balance at June 30, 2018, net $ 7,039,000 $ 1,281,000 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | 2018 2017 Vested Series A warrants 404,412 404,412 Unvested Series A warrants (1) 698,529 698,529 Warrants – other 13,197,267 3,725,782 Stock options 1,200,470 397,388 Restricted stock units -- 59,694 Total 15,500,678 5,285,805 |
Note 3 - Acquisition of SynGe17
Note 3 - Acquisition of SynGen Inc. (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Business Acquisition, Pro Forma Information [Table Text Block] | Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Net revenues $ 3,758,000 $ 7,138,000 Net loss $ (1,712,000 ) $ (3,960,000 ) Basic and diluted net loss per common share $ (0.17 ) $ (0.40 ) |
Note 5 - Commitments and Cont18
Note 5 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | Balance at December 31, 2017 $ 291,000 Warranties issued during the period 30,000 Settlements made during the period (216,000 ) Changes in liability for pre-existing warranties during the period (5,000 ) Balance at June 30, 2018 $ 100,000 |
Note 6 - Derivative Obligatio19
Note 6 - Derivative Obligations (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Series A June 30, 2018 December 31, 2017 Market price of common stock $ 0.42 $ 3.00 Expected volatility 111.2 % 107 % Contractual term (years) 2.7 3.2 Discount rate 2.60 % 1.99 % Dividend rate 0 % 0 % Exercise price $ 8.00 $ 8.00 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Derivative Obligation June 30, 2018 December 31, 2017 Balance $ 30,000 $ 597,000 Level 1 $ - $ - Level 2 $ - $ - Level 3 $ 30,000 $ 597,000 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Amount Balance – December 31, 2017 $ 597,000 Change in fair value of derivative obligation (567,000 ) Balance – June 30, 2018 $ 30,000 |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2017 1,156,027 $ 3.92 Granted 93,500 $ 2.63 Forfeited (21,875 ) $ 3.26 Expired (27,182 ) $ 4.67 Outstanding at June 30, 2018 1,200,470 $ 3.81 8.4 -- Vested and expected to vest at June 30, 2018 960,726 $ 4.02 8.1 -- Exercisable at June 30, 2018 303,348 $ 6.26 5.5 -- |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Expected life (years) 5.6 Risk-free interest rate 2.7 % Expected volatility 98 % Dividend yield 0 % |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Weighted Average Number of Shares Grant Date Fair Value Balance at December 31, 2017 416 $ 17.60 Granted -- -- Vested 416 17.60 Forfeited -- -- Outstanding at June 30, 2018 -- -- |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Weighted-Average Exercise Price Per Share Balance at December 31, 2017 4,828,723 $ 9.37 Warrants granted 9,471,485 0.67 Warrants canceled -- -- Warrants exercised -- -- Outstanding at June 30, 2018 14,300,208 $ 3.61 Exercisable at June 30, 2018 13,296,861 $ 3.40 |
Note 8 - Segment Reporting (Tab
Note 8 - Segment Reporting (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Three Months Ended June 30, 2018 Clinical Development Device Total Net revenues $ 46,000 $ 1,958,000 $ 2,004,000 Cost of revenues 49,000 1,592,000 1,641,000 Gross profit (3,000 ) 366,000 363,000 Operating expenses 28,408,000 2,460,000 30,868,000 Operating loss $ (28,411,000 ) $ (2,094,000 ) $ (30,505,000 ) Depreciation and amortization $ 69,000 $ 105,000 $ 174,000 Impairment Charges $ 27,202,000 $ -- $ 27,202,000 Stock-based compensation expense $ 122,000 $ 41,000 $ 163,000 Three Months Ended June 30, 2017 Clinical Development Device Total Net revenues $ 113,000 $ 3,388,000 $ 3,501,000 Cost of revenues 111,000 1,862,000 1,973,000 Gross profit 2,000 1,526,000 1,528,000 Operating expenses 1,899,000 1,361,000 3,260,000 Operating loss $ (1,897,000 ) $ 165,000 $ (1,732,000 ) Depreciation and amortization $ 110,000 $ 62,000 $ 172,000 Stock-based compensation expense $ 100,000 $ 81,000 $ 181,000 Six Months Ended June 30, 2018 Clinical Development Device Total Net revenues $ 108,000 $ 3,763,000 $ 3,871,000 Cost of revenues 120,000 3,036,000 3,156,000 Gross profit (12,000 ) 727,000 715,000 Operating expenses 29,588,000 4,889,000 34,477,000 Operating loss $ (29,600,000 ) $ (4,162,000 ) $ (33,762,000 ) Depreciation and amortization $ 137,000 $ 196,000 $ 333,000 Impairment Charges $ 27,202,000 $ -- $ 27,202,000 Stock-based compensation expense $ 220,000 $ 80,000 $ 300,000 Goodwill $ 500,000 $ 781,000 $ 1,281,000 Total assets $ 12,808,000 $ 10,435,000 $ 23,243,000 Six Months Ended June 30, 2017 Clinical Development Device Total Net revenues $ 266,000 $ 6,487,000 $ 6,753,000 Cost of revenues 235,000 3,613,000 3,848,000 Gross profit 31,000 2,874,000 2,905,000 Operating expenses 3,880,000 2,920,000 6,800,000 Operating loss $ (3,849,000 ) $ (46,000 ) $ (3,895,000 ) Depreciation and amortization $ 226,000 $ 131,000 $ 357,000 Stock-based compensation expense $ 251,000 $ 177,000 $ 428,000 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Net loss before benefit for income taxes $ (30,612,000 ) $ (33,982,000 ) Benefit for income taxes 3,451,000 3,451,000 Effective tax rate 11.3 % 10.2 % |
Note 1 - Basis of Presentatio23
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) | May 18, 2018 | Mar. 28, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Units Issued, Price per Unit | $ 0.60 | |||
Proceeds from Issuance or Sale of Equity, Total | $ 5,500,000 | |||
Proceeds from Issuance or Sale of Equity, Net | 4,819,000 | |||
Payments of Stock Issuance Costs | $ 681,000 | $ 171,000 | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 3,071,000 | $ 3,513,000 | ||
Working Capital | 5,006,000 | |||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (217,337,000) | $ (187,640,000) | ||
Common Warrants [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.60 | |||
Warrants and Rights Outstanding, Term | 5 years | |||
Units [Member] | ||||
Number of Units Issued | 6,475,001 | |||
Convertible Units, Number of Common Shares Called by Each Unit | 1 | |||
Convertible Units, Number of Common Warrants Called by Each Unit | 1 | |||
Units [Member] | Common Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||
Pre-funded Units [member] | ||||
Number of Units Issued | 2,691,666 | |||
Convertible Units, Number of Common Warrants Called by Each Unit | 1 | |||
Convertible Units, Number of Pre-funded Warrants Called by Each Unit | 1 | |||
Number of Units Exercised | 2,691,666 | |||
Pre-funded Units [member] | Common Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||
Pre-funded Units [member] | Pre-funded Warrant [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||
Boyalife Investment Fund II, Inc. [Member] | Revolving Credit Facility [Member] | ||||
Long-term Line of Credit, Total | $ 7,200,000 | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 |
Note 2 - Summary of Significa24
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Jun. 30, 2018USD ($) | Jan. 01, 2018USD ($) | |
Maximum Period Of Agreement | 21 years | |||
Contract with Customer, Liability, Revenue Recognized | $ 207,000 | $ 269,000 | ||
Contract with Customer, Liability, Current | $ 718,000 | $ 384,000 | $ 718,000 | |
Goodwill, Impairment Loss | 12,695,000 | |||
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 14,507,000 | |||
Number of Reportable Segments | 2 | |||
Retained Earnings [Member] | Accounting Standards Update 2014-09 [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (79,000) |
Note 2 - Summary of Significa25
Note 2 - Summary of Significant Accounting Policies - Revenues (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net revenues | $ 2,004,000 | $ 3,501,000 | $ 3,871,000 | $ 6,753,000 |
Device [Member] | ||||
Net revenues | 1,958,000 | 3,763,000 | ||
Device [Member] | AXP [Member] | ||||
Net revenues | 945,000 | 1,695,000 | ||
Device [Member] | BioArchive [Member] | ||||
Net revenues | 760,000 | 1,527,000 | ||
Device [Member] | Manual Disposables [Member] | ||||
Net revenues | 229,000 | 462,000 | ||
Device [Member] | Other Subsegments [Member] | ||||
Net revenues | 24,000 | 79,000 | ||
Device [Member] | Bone Marrow [Member] | ||||
Net revenues | 38,000 | 61,000 | ||
Clinical Development [Member] | ||||
Net revenues | 46,000 | 108,000 | ||
Clinical Development [Member] | Manual Disposables [Member] | ||||
Net revenues | 1,000 | 23,000 | ||
Clinical Development [Member] | Other Subsegments [Member] | ||||
Net revenues | 7,000 | 24,000 | ||
Device Revenue [Member] | ||||
Net revenues | 1,566,000 | 2,967,000 | ||
Device Revenue [Member] | Device [Member] | ||||
Net revenues | 1,565,000 | 2,944,000 | ||
Device Revenue [Member] | Device [Member] | AXP [Member] | ||||
Net revenues | 879,000 | 1,564,000 | ||
Device Revenue [Member] | Device [Member] | BioArchive [Member] | ||||
Net revenues | 449,000 | 872,000 | ||
Device Revenue [Member] | Device [Member] | Manual Disposables [Member] | ||||
Net revenues | 229,000 | 462,000 | ||
Device Revenue [Member] | Device [Member] | Other Subsegments [Member] | ||||
Net revenues | 8,000 | 46,000 | ||
Device Revenue [Member] | Device [Member] | Bone Marrow [Member] | ||||
Net revenues | ||||
Device Revenue [Member] | Clinical Development [Member] | ||||
Net revenues | 1,000 | 23,000 | ||
Device Revenue [Member] | Clinical Development [Member] | Manual Disposables [Member] | ||||
Net revenues | 1,000 | 23,000 | ||
Device Revenue [Member] | Clinical Development [Member] | Other Subsegments [Member] | ||||
Net revenues | ||||
Service [Member] | ||||
Net revenues | 422,000 | 871,000 | ||
Service [Member] | Device [Member] | ||||
Net revenues | 377,000 | 786,000 | ||
Service [Member] | Device [Member] | AXP [Member] | ||||
Net revenues | 66,000 | 131,000 | ||
Service [Member] | Device [Member] | BioArchive [Member] | ||||
Net revenues | 311,000 | 655,000 | ||
Service [Member] | Device [Member] | Manual Disposables [Member] | ||||
Net revenues | ||||
Service [Member] | Device [Member] | Other Subsegments [Member] | ||||
Net revenues | ||||
Service [Member] | Device [Member] | Bone Marrow [Member] | ||||
Net revenues | 38,000 | 61,000 | ||
Service [Member] | Clinical Development [Member] | ||||
Net revenues | 45,000 | 85,000 | ||
Service [Member] | Clinical Development [Member] | Manual Disposables [Member] | ||||
Net revenues | ||||
Service [Member] | Clinical Development [Member] | Other Subsegments [Member] | ||||
Net revenues | 7,000 | 24,000 | ||
Other [Member] | ||||
Net revenues | 16,000 | 33,000 | ||
Other [Member] | Device [Member] | ||||
Net revenues | 16,000 | 33,000 | ||
Other [Member] | Device [Member] | AXP [Member] | ||||
Net revenues | ||||
Other [Member] | Device [Member] | BioArchive [Member] | ||||
Net revenues | ||||
Other [Member] | Device [Member] | Manual Disposables [Member] | ||||
Net revenues | ||||
Other [Member] | Device [Member] | Other Subsegments [Member] | ||||
Net revenues | 16,000 | 33,000 | ||
Other [Member] | Device [Member] | Bone Marrow [Member] | ||||
Net revenues | ||||
Other [Member] | Clinical Development [Member] | ||||
Net revenues | ||||
Other [Member] | Clinical Development [Member] | Manual Disposables [Member] | ||||
Net revenues | ||||
Other [Member] | Clinical Development [Member] | Other Subsegments [Member] | ||||
Net revenues |
Note 2 - Summary of Significa26
Note 2 - Summary of Significant Accounting Policies - Remaining Performance Obligations (Details) | Jun. 30, 2018USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01 | |
Revenue | $ 756,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue | 698,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue | 224,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue | 232,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue | 1,910,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01 | |
Revenue | 749,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue | 683,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue | 209,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue | 1,641,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01 | |
Revenue | 7,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue | 15,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue | 15,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue | 232,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue | $ 269,000 |
Note 2 - Summary of Significa27
Note 2 - Summary of Significant Accounting Policies - Goodwill and Intangible Assets (Details) | 3 Months Ended |
Jun. 30, 2018USD ($) | |
Intangible assets at December 31, 2017, net | $ 21,629,000 |
Intangible assets, amortization and foreign exchange (current year) | (83,000) |
Intangible assets, impairment loss | (14,507,000) |
Intangible assets at June 30, 2018, net | 7,039,000 |
Goodwill at December 31, 2017, net | 13,976,000 |
Goodwill, impairment loss | (12,695,000) |
Goodwill at June 30, 2018, net | $ 1,281,000 |
Note 2 - Summary of Significa28
Note 2 - Summary of Significant Accounting Policies - Calculation for Basic and Diluted Earnings Per Share (Details) - shares | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | ||
Anti-dilutive securities (in shares) | 15,500,678 | 5,285,805 | |
Vested Series A Warrants [Member] | |||
Anti-dilutive securities (in shares) | 404,412 | 404,412 | |
Unvested Series A Warrants [Member] | |||
Anti-dilutive securities (in shares) | [1] | 698,529 | 698,529 |
Warrant, Other [Member] | |||
Anti-dilutive securities (in shares) | 13,197,267 | 3,725,782 | |
Employee Stock Option [Member] | |||
Anti-dilutive securities (in shares) | 1,200,470 | 397,388 | |
Restricted Stock Units (RSUs) [Member] | |||
Anti-dilutive securities (in shares) | 59,694 | ||
[1] | The unvested Series A warrants were subject to vesting based upon the amount of funds actually received by the Company in the second close of the August 2015 financing which never occurred. The warrants will remain outstanding but unvested until they expire in February 2021. |
Note 3 - Acquisition of SynGe29
Note 3 - Acquisition of SynGen Inc. (Details Textual) - SynGen [Member] - USD ($) | Jul. 07, 2017 | Jun. 30, 2018 | Jun. 30, 2018 |
Payments to Acquire Businesses, Gross | $ 1,000,000 | ||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 2,000,000 | ||
Percentage Of Common Stock Issued To Acquiree Shareholders | 20.00% | ||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 2,528,000 | ||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 19,000 | $ 49,000 |
Note 3 - Acquisition of SynGe30
Note 3 - Acquisition of SynGen Inc.- Supplemental Pro Forma Data (Details) - SynGen [Member] - USD ($) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Net revenues | $ 3,758,000 | $ 7,138,000 |
Net loss | $ (1,712,000) | $ (3,960,000) |
Basic and diluted net loss per common share (in dollars per share) | $ (0.17) | $ (0.40) |
Note 4 - Related Party Transa31
Note 4 - Related Party Transactions (Details Textual) - USD ($) | Aug. 21, 2017 | Jun. 30, 2017 | Mar. 06, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | May 18, 2018 | Apr. 16, 2018 | Dec. 31, 2017 |
Units Issued, Price per Unit | $ 0.60 | |||||||||
Interest Expense, Total | $ 383,000 | $ 112,000 | $ 743,000 | $ 131,000 | ||||||
Boyalife Investment Fund II, Inc. [Member] | Convertible Debt [Member] | ||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.60 | $ 1.61 | ||||||||
Boyalife Investment Fund II, Inc. [Member] | Revolving Credit Facility [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 | 10,000,000 | ||||||||
Proceeds from Long-term Lines of Credit | 7,200,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22.00% | |||||||||
Debt Instrument, Convertible, Percentage of Conversion Price | 90.00% | |||||||||
Debt Instrument, Number of Trading Days Prior to the Maturity Date | 10 days | |||||||||
Interest Payable | 742,000 | 742,000 | $ 657,000 | $ 657,000 | ||||||
Interest Expense, Total | $ 122,000 | 382,000 | 103,000 | 742,000 | ||||||
Boyalife W.S.N. [Member] | ||||||||||
Distributor Agreement Term | 3 years | |||||||||
Distributor Agreement, Renewal Term | 2 years | |||||||||
Boyalife Group Ltd. [Member] | ||||||||||
Revenue from Related Parties | $ 43,000 | $ 0 | 269,000 | $ 0 | ||||||
Boyalife Group Ltd. [Member] | Legal Expenses Reimbursement [Member] | ||||||||||
Related Party Transaction, Amounts of Transaction | $ 606,000 |
Note 5 - Commitments and Cont32
Note 5 - Commitments and Contingencies (Details Textual) - USD ($) | May 18, 2018 | Mar. 28, 2018 | May 04, 2017 | Jun. 30, 2018 | Oct. 31, 2017 | Jun. 30, 2018 |
Payment Terms, Severance Compensation | 1 year | |||||
Short Term Investment Minimum | $ 2,000,000 | $ 2,000,000 | ||||
Stock Issued During Period, Shares, New Issues | 609,636 | |||||
Payments of Stock Issuance Costs | $ 681,000 | $ 171,000 | ||||
Broker Dealer [Member] | ||||||
Payments of Stock Issuance Costs | 150,000 | |||||
Warrants Issued in Connection with Underwritten Public Offering [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 304,818 | |||||
Underwritten Public Offering [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 609,636 | |||||
Tail Commission on Proceeds Received | 8.00% | |||||
Litigation Related to Strategic Advisory Services [Member] | ||||||
Loss Contingency, Damages Sought, Value | $ 1,000,000 | |||||
Loss Contingency, Negotiation Condition Bond | $ 1,000,000 | |||||
Loss Contingency Accrual, Ending Balance | $ 0 | $ 0 | ||||
Minimum [Member] | ||||||
Period Of Warranty On Products | 1 year | |||||
Maximum [Member] | ||||||
Period Of Warranty On Products | 2 years |
Note 5 - Commitments and Cont33
Note 5 - Commitments and Contingencies - Changes in Product Liability Included in Accrued Liabilities (Details) | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Balance at December 31, 2017 | $ 291,000 |
Warranties issued during the period | 30,000 |
Settlements made during the period | (216,000) |
Changes in liability for pre-existing warranties during the period | (5,000) |
Balance at June 30, 2018 | $ 100,000 |
Note 6 - Derivative Obligatio34
Note 6 - Derivative Obligations (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Jun. 30, 2016 | |
Class of Warrant or Right, Outstanding | 14,300,208 | 14,300,208 | 4,828,723 | |||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 308,000 | $ 44,000 | $ 567,000 | $ 113,000 | ||
Series A Warrant [Member] | ||||||
Class of Warrant or Right, Outstanding | 404,412 |
Note 6 - Derivative Obligatio35
Note 6 - Derivative Obligations - Fair Value Assumptions (Details) - Series A Warrant [Member] | Jun. 30, 2018 | Dec. 31, 2017 |
Measurement Input, Share Price [Member] | ||
Valuation assumption | 0.42 | 3 |
Measurement Input, Price Volatility [Member] | ||
Valuation assumption | 1.112 | 1.07 |
Measurement Input, Expected Term [Member] | ||
Valuation assumption | 2.7 | 3.2 |
Measurement Input, Discount Rate [Member] | ||
Valuation assumption | 0.026 | 0.0199 |
Measurement Input, Expected Dividend Rate [Member] | ||
Valuation assumption | 0 | 0 |
Measurement Input, Exercise Price [Member] | ||
Valuation assumption | 8 | 8 |
Note 6 - Derivative Obligatio36
Note 6 - Derivative Obligations - Fair Value Hierarchy (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Derivative obligations | $ 30,000 | $ 597,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Derivative obligations | ||
Fair Value, Inputs, Level 2 [Member] | ||
Derivative obligations | ||
Fair Value, Inputs, Level 3 [Member] | ||
Derivative obligations | $ 30,000 | $ 597,000 |
Note 6 - Derivative Obligatio37
Note 6 - Derivative Obligations - Change in Fair Value of Derivative Liabilities (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Balance | $ 597,000 | |||
Change in fair value of derivative obligation | $ (308,000) | $ (44,000) | (567,000) | $ (113,000) |
Balance | $ 30,000 | $ 30,000 |
Note 7 - Stockholders' Equity38
Note 7 - Stockholders' Equity (Details Textual) - USD ($) | May 18, 2018 | Mar. 28, 2018 | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 |
Units Issued, Price per Unit | $ 0.60 | ||||||
Proceeds from Issuance or Sale of Equity, Total | $ 5,500,000 | ||||||
Proceeds from Issuance or Sale of Equity, Net | 4,819,000 | ||||||
Payments of Stock Issuance Costs | $ 681,000 | $ 171,000 | |||||
Stock Issued During Period, Shares, New Issues | 609,636 | ||||||
Shares Issued, Price Per Share | $ 2.27 | ||||||
Proceeds from Issuance of Common Stock, Net | $ 1,213,000 | $ 6,032,000 | |||||
Allocated Share-based Compensation Expense, Total | $ 163,000 | $ 181,000 | $ 300,000 | $ 428,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | ||||||
Class of Warrant or Right, Outstanding, Intrinsic Value | $ 0 | $ 0 | $ 0 | ||||
Common Warrants [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.60 | ||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||
Warrants Issused in Private Placement [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.68 | ||||||
Warrants and Rights Outstanding, Term | 5 years 182 days | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 304,818 | ||||||
Units [Member] | |||||||
Number of Units Issued | 6,475,001 | ||||||
Convertible Units, Number of Common Shares Called by Each Unit | 1 | ||||||
Convertible Units, Number of Common Warrants Called by Each Unit | 1 | ||||||
Units [Member] | Common Warrants [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | ||||||
Pre-funded Units [member] | |||||||
Number of Units Issued | 2,691,666 | ||||||
Convertible Units, Number of Common Warrants Called by Each Unit | 1 | ||||||
Convertible Units, Number of Pre-funded Warrants Called by Each Unit | 1 | ||||||
Number of Units Exercised | 2,691,666 | ||||||
Pre-funded Units [member] | Common Warrants [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | ||||||
Pre-funded Units [member] | Pre-funded Warrant [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Option Activity for Stock Option Plans (Details) | 6 Months Ended |
Jun. 30, 2018USD ($)$ / sharesshares | |
Outstanding, options (in shares) | shares | 1,156,027 |
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares | $ 3.92 |
Granted, options (in shares) | shares | 93,500 |
Granted, weighted average exercise price, options (in dollars per share) | $ / shares | $ 2.63 |
Forfeited (in shares) | shares | (21,875) |
Forfeited (in dollars per share) | $ / shares | $ 3.26 |
Expired, options (in shares) | shares | (27,182) |
Expired, weighted average exercise price, options (in dollars per share) | $ / shares | $ 4.67 |
Outstanding, options (in shares) | shares | 1,200,470 |
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares | $ 3.81 |
Outstanding, weighted average remaining contractual life, options (Year) | 8 years 146 days |
Outstanding, aggregate intrinsic value, options | $ | |
Vested and Expected to Vest, options (in shares) | shares | 960,726 |
Vested and Expected to Vest, weighted average exercise price, options (in dollars per share) | $ / shares | $ 4.02 |
Vested and Expected to Vest, weighted average remaining contractual life, options (Year) | 8 years 36 days |
Vested and Expected to Vest, aggregate intrinsic value, options | $ | |
Exercisable, options (in shares) | shares | 303,348 |
Exercisable, weighted average exercise price, options (in dollars per share) | $ / shares | $ 6.26 |
Exercisable, weighted average remaining contractual life, options (Year) | 5 years 182 days |
Exercisable, aggregate intrinsic value, options | $ |
Note 7 - Stockholders' Equity40
Note 7 - Stockholders' Equity - Schedule of Assumptions (Details) | 6 Months Ended |
Jun. 30, 2018 | |
Expected life (years) (Year) | 5 years 219 days |
Risk-free interest rate | 2.70% |
Expected volatility | 98.00% |
Dividend yield | 0.00% |
Note 7 - Stockholders' Equity41
Note 7 - Stockholders' Equity - Restricted Stock Unit Activity Granted to Employees (Details) - Restricted Stock Units (RSUs) [Member] | 6 Months Ended |
Jun. 30, 2018$ / sharesshares | |
Balance, Number of Shares (in shares) | shares | 416 |
Balance, Weighted Average Grant Date Fair Value, (in dollars per share) | $ / shares | $ 17.60 |
Granted, Number of Shares (in shares) | shares | |
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | |
Vested, Number of Shares (in shares) | shares | 416 |
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 17.60 |
Forfeited, Number of Shares (in shares) | shares | |
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | |
Balance, Number of Shares (in shares) | shares | |
Balance, Weighted Average Grant Date Fair Value, (in dollars per share) | $ / shares |
Note 7 - Stockholders' Equity42
Note 7 - Stockholders' Equity - Warrant Activity (Details) | 6 Months Ended |
Jun. 30, 2018$ / sharesshares | |
Balance (in shares) | shares | 4,828,723 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 9.37 |
Warrants granted (in shares) | shares | 9,471,485 |
Warrants granted, weighted average exercise price (in dollars per share) | $ / shares | $ 0.67 |
Warrants exercised (in shares) | shares | |
Warrants exercised (cashless), weighted average exercise price (in dollars per share) | $ / shares | |
Balance (in shares) | shares | 14,300,208 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 3.61 |
Exercisable at June 30, 2018 (in shares) | shares | 13,296,861 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 3.40 |
Note 8 - Segment Reporting (Det
Note 8 - Segment Reporting (Details Textual) | 6 Months Ended |
Jun. 30, 2018 | |
Number of Reportable Segments | 2 |
Note 8 - Segment Reporting - Su
Note 8 - Segment Reporting - Summary of Operating Results by Reportable Segments (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | |
Net revenues | $ 2,004,000 | $ 3,501,000 | $ 3,871,000 | $ 6,753,000 | ||
Cost of revenues | 1,641,000 | 1,973,000 | 3,156,000 | 3,848,000 | ||
Gross profit | 363,000 | 1,528,000 | 715,000 | 2,905,000 | ||
Operating expenses | 30,868,000 | 3,260,000 | 34,477,000 | 6,800,000 | ||
Operating loss | (30,505,000) | (1,732,000) | (33,762,000) | (3,895,000) | ||
Depreciation and amortization | 174,000 | 172,000 | 333,000 | 357,000 | ||
Impairment of intangible asset | 27,202,000 | 310,000 | 27,202,000 | 310,000 | ||
Stock-based compensation expense | 163,000 | 181,000 | 300,000 | 428,000 | ||
Operating loss | (30,505,000) | (1,732,000) | (33,762,000) | (3,895,000) | ||
Goodwill | 1,281,000 | 1,281,000 | $ 13,976,000 | $ 13,976,000 | ||
Total assets | 23,243,000 | 23,243,000 | $ 51,111,000 | |||
Clinical Development [Member] | ||||||
Net revenues | 46,000 | 108,000 | ||||
Clinical Development [Member] | Operating Segments [Member] | ||||||
Net revenues | 46,000 | 113,000 | 108,000 | 266,000 | ||
Cost of revenues | 49,000 | 111,000 | 120,000 | 235,000 | ||
Gross profit | (3,000) | 2,000 | (12,000) | 31,000 | ||
Operating expenses | 28,408,000 | 1,899,000 | 29,588,000 | 3,880,000 | ||
Operating loss | (28,411,000) | (1,897,000) | (29,600,000) | (3,849,000) | ||
Depreciation and amortization | 69,000 | 110,000 | 137,000 | 226,000 | ||
Impairment of intangible asset | 27,202,000 | 27,202,000 | ||||
Stock-based compensation expense | 122,000 | 100,000 | 220,000 | 251,000 | ||
Operating loss | (28,411,000) | (1,897,000) | (29,600,000) | (3,849,000) | ||
Goodwill | 500,000 | 500,000 | ||||
Total assets | 12,808,000 | 12,808,000 | ||||
Device [Member] | ||||||
Net revenues | 1,958,000 | 3,763,000 | ||||
Device [Member] | Operating Segments [Member] | ||||||
Net revenues | 1,958,000 | 3,388,000 | 3,763,000 | 6,487,000 | ||
Cost of revenues | 1,592,000 | 1,862,000 | 3,036,000 | 3,613,000 | ||
Gross profit | 366,000 | 1,526,000 | 727,000 | 2,874,000 | ||
Operating expenses | 2,460,000 | 1,361,000 | 4,889,000 | 2,920,000 | ||
Operating loss | (2,094,000) | 165,000 | (4,162,000) | (46,000) | ||
Depreciation and amortization | 105,000 | 62,000 | 196,000 | 131,000 | ||
Impairment of intangible asset | ||||||
Stock-based compensation expense | 41,000 | 81,000 | 80,000 | 177,000 | ||
Operating loss | (2,094,000) | $ 165,000 | (4,162,000) | $ (46,000) | ||
Goodwill | 781,000 | 781,000 | ||||
Total assets | $ 10,435,000 | $ 10,435,000 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability fom Impairment of Intangible Assets | $ (3,451,000) | $ (3,451,000) | |
Scenario, Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 9 - Income Taxes - Summary
Note 9 - Income Taxes - Summary of Provision (Benefit) for Income Taxes (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net loss before benefit for income taxes | $ (30,612,000) | $ (1,827,000) | $ (33,982,000) | $ (3,924,000) |
Benefit for income taxes | $ 3,451,000 | $ 673,000 | $ 3,451,000 | $ 673,000 |
Effective tax rate | 11.30% | 10.20% |