Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 26, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | BIOLIFE SOLUTIONS INC | |
Entity Central Index Key | 0000834365 | |
Trading Symbol | blfs | |
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 | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 25,993,028 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Shares, par value $0.01 per share |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 6,400,000 | $ 6,448,000 |
Accounts receivable, trade, net | 8,205,000 | 5,345,000 |
Inventories | 10,829,000 | 10,972,000 |
Prepaid expenses and other current assets | 1,016,000 | 1,348,000 |
Total current assets | 26,450,000 | 24,113,000 |
Assets held for rent, net | 4,875,000 | 3,922,000 |
Property and equipment, net | 5,407,000 | 5,572,000 |
Operating lease right-of-use assets, net | 892,000 | 1,040,000 |
Long-term deposits and other assets | 36,000 | 50,000 |
Investments | 2,500,000 | 2,500,000 |
Accrued interest receivable | 27,000 | |
Intangible assets, net | 21,294,000 | 21,982,000 |
Goodwill | 33,506,000 | 33,637,000 |
Total assets | 94,987,000 | 92,816,000 |
Current liabilities | ||
Accounts payable | 3,522,000 | 3,119,000 |
Accrued expenses and other current liabilities | 3,080,000 | 3,369,000 |
Lease liabilities, operating, current portion | 826,000 | 804,000 |
Contingent consideration, current portion | 365,000 | 377,000 |
Warrant liability | 17,667,000 | |
Total current liabilities | 25,460,000 | 7,669,000 |
Warrant liability | 39,602,000 | |
Contingent consideration, long-term | 1,486,000 | 1,537,000 |
Lease liabilities, operating, long-term | 332,000 | 550,000 |
Other long-term liabilities | 4,000 | |
Total liabilities | 27,278,000 | 49,362,000 |
Commitments and Contingencies (Note 11) | ||
Shareholders’ equity | ||
Preferred stock, $0.001 par value; 1,000,000 shares authorized, Series A, 4,250 shares designated, and 0 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively | ||
Common stock, $0.001 par value; 150,000,000 shares authorized, 21,148,771 and 20,825,452 shares issued and outstanding at March 31, 2020 and December 31 2019, respectively | 21,000 | 21,000 |
Additional paid-in capital | 145,432,000 | 143,485,000 |
Accumulated deficit | (77,744,000) | (100,052,000) |
Total shareholders’ equity | 67,709,000 | 43,454,000 |
Total liabilities and shareholders’ equity | $ 94,987,000 | $ 92,816,000 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, issued (in shares) | 21,148,771 | 20,825,452 |
Common stock, outstanding (in shares) | 21,148,771 | 20,825,452 |
Series A Preferred Stock [Member] | ||
Preferred stock, shares designated (in shares) | 4,250 | 4,250 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Revenue | $ 12,162,000 | $ 5,770,000 |
Operating expenses | ||
Cost of product and rental revenue (exclusive of intangible assets amortization) | 4,568,000 | 1,647,000 |
Research and development | 1,663,000 | 359,000 |
Sales and marketing | 1,576,000 | 837,000 |
General and administrative | 3,135,000 | 2,153,000 |
Amortization of intangible assets | 688,000 | 0 |
Acquisition costs | 225,000 | 208,000 |
Change in fair value of contingent consideration | (63,000) | |
Total operating expenses | 11,792,000 | 5,204,000 |
Operating income (loss) | 370,000 | 566,000 |
Other income (expense) | ||
Change in fair value of warrant liability | 21,914,000 | (19,663,000) |
Interest income | 29,000 | 171,000 |
Interest expense | (1,000) | (3,000) |
Other expense | (4,000) | |
Loss from equity method investment in SAVSU | (232,000) | |
Total other income (expenses) | 21,938,000 | (19,727,000) |
Net income (loss) before provision for income taxes | 22,308,000 | (19,161,000) |
Income tax (benefit) | ||
Net income (loss) | 22,308,000 | (19,161,000) |
Net income attributable to common stockholders: | ||
Basic | 18,364,000 | (19,161,000) |
Diluted | $ (174,000) | $ (19,161,000) |
Earnings per share attributable to common stockholders | ||
Basic (in dollars per share) | $ 0.87 | $ (1.03) |
Diluted (in dollars per share) | $ (0.01) | $ (1.03) |
Weighted average shares used to compute earnings per share attributable to common stockholders: | ||
Basic (in shares) | 21,010,817 | 18,648,397 |
Diluted (in shares) | 21,010,817 | 18,648,397 |
Product [Member] | ||
Revenue | $ 11,727,000 | $ 5,770,000 |
Rental Revenue [Member] | ||
Revenue | $ 435,000 |
Statements of Shareholders' Equ
Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member]Series A Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 18,547,406 | ||||
Balance at Dec. 31, 2018 | $ 19 | $ 113,008 | $ (98,395) | $ 14,632 | |
Stock-based compensation | 531 | 531 | |||
Stock option exercises (in shares) | 99,697 | ||||
Stock option exercises | 161 | 161 | |||
Warrant exercises (in shares) | 5,000 | ||||
Warrant exercises | 97 | 97 | |||
Stock issued – on vested RSUs (in shares) | 64,992 | ||||
Stock issued – on vested RSUs | |||||
Net loss | (19,161) | (19,161) | |||
Net income | (19,161) | (19,161) | |||
Balance (in shares) at Mar. 31, 2019 | 18,717,095 | ||||
Balance at Mar. 31, 2019 | $ 19 | 113,797 | (117,556) | (3,740) | |
Balance (in shares) at Dec. 31, 2019 | 20,825,452 | ||||
Balance at Dec. 31, 2019 | $ 21 | 143,485 | (100,052) | 43,454 | |
Stock-based compensation | 1,113 | 1,113 | |||
Stock option exercises (in shares) | 268,293 | ||||
Stock option exercises | 490 | 490 | |||
Warrant exercises (in shares) | 2,000 | ||||
Warrant exercises | 30 | 30 | |||
Stock issued – on vested RSUs (in shares) | 53,026 | ||||
Stock issued – on vested RSUs | |||||
Net loss | 22,308 | 22,308 | |||
Stock issued as 2019 bonus payout | 314 | 314 | |||
Net income | 22,308 | 22,308 | |||
Balance (in shares) at Mar. 31, 2020 | 21,148,771 | ||||
Balance at Mar. 31, 2020 | $ 21 | $ 145,432 | $ (77,744) | $ 67,709 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Cash flows from operating activities | |||
Net loss | $ 22,308,000 | $ (19,161,000) | |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation | 413,000 | 98,000 | |
Amortization of intangible assets | 688,000 | 0 | |
Stock-based compensation | 1,113,000 | 531,000 | |
Non cash lease expense | [1] | 148,000 | 124,000 |
Gain from equity method investment in SAVSU | 232,000 | ||
Change in fair value of contingent consideration | (63,000) | ||
Change in fair value of warrant liability | (21,914,000) | 19,663,000 | |
Change in operating assets and liabilities | |||
Accounts receivable, trade | (2,929,000) | 118,000 | |
Inventories | 143,000 | (551,000) | |
Prepaid expenses and other current assets | 317,000 | 6,000 | |
Increase (Decrease) in Accounts Payable, Total | 561,000 | ||
Accrued expenses and other current liabilities | [1] | 304,000 | (469,000) |
Other | (402,000) | 555,000 | |
Net cash provided by operating activities | 687,000 | 1,146,000 | |
Cash flows from investing activities | |||
Purchase of property and equipment | (146,000) | ||
Purchase of assets held for rent, net | (1,081,000) | (156,000) | |
Net cash used in investing activities | (1,227,000) | (156,000) | |
Cash flows from financing activities | |||
Proceeds from exercise of common stock options | 490,000 | 161,000 | |
Proceeds from exercise of warrants | 9,000 | 23,000 | |
Other | (7,000) | (7,000) | |
Net cash provided by financing activities | 492,000 | 177,000 | |
Net increase (decrease) in cash and cash equivalents | (48,000) | 1,167,000 | |
Cash and cash equivalents - beginning of period | 6,448,000 | 30,657,000 | |
Cash and cash equivalents - end of period | 6,400,000 | 31,824,000 | |
Non-cash investing and financing activities | |||
Reclassification of warrant liability to equity upon exercise | 21,000 | 73,000 | |
Purchase of property & equipment not yet paid | 6,000 | 46,000 | |
Stock issued as 2019 bonus payout | $ 314,000 | ||
[1] | Reclass of operating lease liabilities related to updated treatment of leases under ASC 842 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. Business BioLife Solutions, Inc. (“BioLife,” “us,” “we,” “our,” or the “Company”) is a leading developer, manufacturer and supplier of a portfolio of bioproduction tools including; proprietary biopreservation media, automated thawing devices, cloud-connected shipping containers, and freezer technology for cell and gene therapies. Our CryoStor® freeze media and HypoThermosol® hypothermic storage are optimized to preserve cells in the regenerative medicine market. These novel biopreservation media products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death; offering commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function. Our ThawSTAR® product line is comprised of a family of automated thawing devices for frozen cell and gene therapies packaged in cryovials and cryobags. These products improve the quality of administration of high-value, temperature-sensitive biologic therapies to patients by standardizing the thawing process and reducing the risks of contamination and overheating, which are inherent with the use of traditional water baths. Our evo shipping containers are innovative high-performance cloud-connected passive storage and transport containers for temperature-sensitive biologics and pharmaceuticals. Basis of Presentation The condensed consolidated financial statements included herein have been prepared by BioLife Solutions, Inc. in accordance with generally accepted accounting principles in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), for Quarterly Reports on Form 10 10 X not 10 December 31, 2019. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Astero Bio Corporation (“Astero,” and the Astero product line, “ThawStar” acquired on April 1, 2019), August 8, 2019), November 12, 2019). In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of only normal, recurring adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows. The results of operations for the interim periods presented are not Financial Statement Reclassification Certain classifications on the Condensed Consolidated Statements of Cash Flows related to Non cash lease expense and Accrued expenses and other current liabilities for the three March 31, 2019 no Significant Accounting P olicies There have been no three March 31, 2020, 10 Liquidity and Capital Resources On March 31, 2020 December 31, 2019, $6.4 April 1, 2019 $12.5 $8.5 not $484,000 2019 second 2020. August 8, 2019, 1,100,000 November 12, 2019, $11.0 $4.0 $15.0 not On May 22, 2020, $20 12 not 19 not may may 19 may not Risks and Uncertainties On March 10, 2020, 19 one 19 six nine no We have already experienced certain disruptions to our business such as temporary closure of our offices and similar disruptions may may 19 19 may may 19 19 19 There are many uncertainties regarding the current pandemic of the novel coronavirus (“COVID- 19” 19 19 not first March 31, 2020, 19 may $1.5 $2.0 may 19 Concentrations of credit risk and business risk In the three March 31, 2020, 25% two three March 31, 2019, 34% two No 10% three March 31, 2020 2019. three March 31, 2020 2019, 66% 90%, 2019, December 31, 2020. March 31, 2020, two 33% December 31, 2019, two 25% The following table represents the Company’s total revenue by geographic area (based on the location of the customer): Three Months Ended March 31, Revenue by customers’ geographic locations 2020 2019 United States 74 % 60 % Canada 11 % 23 % Europe, Middle East, Africa (EMEA) 12 % 13 % Other 3 % 4 % Total revenue 100 % 100 % Recent accounting pronouncements In August 2018, 2018 13, 820 2018 13 8: December 31, 2020 January 1, 2020 no In December 2019, 2019 12, 740 2019 12 740, not 2019 12 December 31, 2021, 2020. no 2019 12 In June 2016, No. 2016 13, 326 2016 13 2016 13 December 15, 2022, In August 2018, No. 2018 15, 350 40 2018 15 December 15, 2019, January 1, 2020. January 1, 2020 no |
Note 2 - Fair Value Measurement
Note 2 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 2. Fair Value Measurement In accordance with FASB ASC Topic 820, 820” 820 820 three Level 1 Level 2 1 not Level 3 As of March 31, 2020 December 31, 2019, There were no three March 31, 2020 not The following tables set forth the Company’s financial assets measured at fair value on a recurring basis as of March 31, 2020 December 31, 2019, three (In thousands) As of March 31, 20 20 Level 1 Level 2 Level 3 Total Assets: Money market accounts $ 6,400 $ — $ — $ 6,400 Convertible debt held at fair value — — 1,000 1,000 Total 6,400 — 1,000 7,400 Liabilities: Contingent consideration - business combinations — — 1,851 1,851 Warrant liability — — 17,667 17,667 Total $ — $ — $ 19,518 $ 19,518 As of December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Money market accounts $ 6,448 $ — $ — $ 6,448 Convertible debt held at fair value — — 1,000 1,000 Total 6,448 — 1,000 7,448 Liabilities: Contingent consideration - business combinations — — 1,914 1,914 Warrant liability — — 39,602 39,602 Total $ — $ — $ 41,516 $ 41,516 The fair values of money market funds classified as Level 1 3 no 3 March 31, December 31, (In thousands) 2020 2019 Beginning balance $ 1,000 $ 1,000 Purchases — — Change in fair value recognized in net income — — Total $ 1,000 $ 1,000 The following table presents the changes in fair value of contingent consideration liabilities which are measured using Level 3 March 31, December 31, (In thousands) 2020 2019 Beginning balance $ 1,914 $ — Additions — 2,347 Change in fair value recognized in net income (63 ) 50 Payments earned, reclassified to accrued liabilities — (483 ) Total $ 1,851 $ 1,914 The following table presents the changes in fair value of warrant liabilities which are measured using Level 3 March 31, December 31, (In thousands) 2020 2019 Beginning balance $ 39,602 $ 28,516 Exercised warrants (21 ) (1,749 ) Change in fair value recognized in net income (21,914 ) 12,835 Ending balance $ 17,667 $ 39,602 |
Note 3 - Acquisitions
Note 3 - Acquisitions | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3. Astero Acquisition On April 1, 2019, In connection with the acquisition, the Company paid (i) a base payment in the amount of $12.5 x $8.0 $4.5 one 2019, 2020 2021 $3.5 $5.0 2021, three 2019 2021. Consideration transferred The Astero acquisition was accounted for as a purchase of a business under FASB ASC Topic 805, $12.5 $8.5 three $1.5 $324,000, $4.1 $9.5 not may Total consideration recorded for the acquisition of Astero is as follows (amounts in thousands): Cash consideration $ 12,521 Contingent consideration 1,491 Working capital adjustment (71 ) Total consideration transferred $ 13,941 Fair Value of Net Assets Acquired The table below represents the purchase price allocation to the net assets acquired based on their estimated fair values (amounts in thousands). Such amounts were estimated using the most recent financial statements from Astero as of March 31, 2019. Cash and cash equivalents $ 11 Accounts receivable, net 154 Inventory 456 Customer relationships 160 Tradenames 470 Developed technology 2,840 In-process research and development 650 Goodwill 9,515 Other assets 99 Accounts payable (250 ) Other liabilities (164 ) Fair value of net assets acquired $ 13,941 The fair value of Astero’s identifiable intangible assets and estimated useful lives have been estimated as follows (amounts in thousands except years): Estimated Fair Value Estimated Useful Life (Years) Customer relationships $ 160 4 Tradenames 470 9 Developed technology 2,840 5 – 9 In-process research and development 650 9 Total identifiable intangible assets $ 4,120 Fair value measurement methodologies used to calculate the value of any asset can be broadly classified into one three three third Some of the more significant assumptions inherent in the development of intangible asset fair values, from the perspective of a market participant, include, but are not not Acquired Goodwill The goodwill of $9.5 $1.1 not SAVSU Acquisition On August 8, 2019, 8,616 56% not 1,100,000 August 8, 2019, Consideration transferred The SAVSU acquisition was accounted for as a purchase of a business under FASB ASC Topic 805, 56% 1,100,000 $18.12 $19.9 100% $35.8 $5.8 $15.9 44% 56% not $10.1 Under the acquisition method of accounting, the assets acquired and liabilities assumed from SAVSU were recorded as of the acquisition date, at their respective fair values, and consolidated with those of BioLife. The fair value of the net tangible assets acquired is estimated to be approximately $4.2 $12.2 $19.5 not may Total consideration paid for the acquisition of SAVSU is as follows (amounts in thousands): Stock consideration for 55.6% equity interest purchased $ 19,932 This stock consideration plus the fair value of our existing equity investment in SAVSU of $15.9 $35.8 Fair Value of Net Assets Acquired The table below represents the purchase price allocation to the net assets acquired based on their estimated fair values (amounts in thousands). Such amounts were estimated using the most recent financial statements from SAVSU as of August 7, 2019. Cash and cash equivalents $ 1,251 Accounts receivable, net 753 Prepaid expenses and other current assets 19 Property, plant and equipment, net 546 Operating right-of-use asset 233 Assets held for rent, net 2,441 Customer relationships 80 Tradenames 1,320 Developed technology 10,750 Goodwill 21,037 Accounts payable and accrued expenses (807 ) Deferred tax liabilities (1,541 ) Other liabilities (232 ) Fair value of net assets acquired $ 35,850 The fair value of SAVSU’s identifiable intangible assets and estimated useful lives have been estimated as follows (amounts in thousands except years): Estimated Fair Value Estimated Useful Life (Years) Customer relationships $ 80 6 Tradenames 1,320 9 Developed technology 10,750 7 – 8 Total identifiable intangible assets $ 12,150 Fair value measurement methodologies used to calculate the value of any asset can be broadly classified into one three three Some of the more significant assumptions inherent in the development of intangible asset fair values, from the perspective of a market participant, include, but are not not Acquired Goodwill The goodwill of $21.0 None Custom Biogenic Systems Acquisition On November 10, 2019, November 12, 2019. In connection with the CBS Acquisition, we paid to CBS Seller (i) a base payment in the amount of $15.0 $11.0 $550,000 $4.0 $3.0 March 13, 2019, 2020, 2021, 2022, 2023 2024 not $15.0 The CBS acquisition was accounted for as a purchase of a business under FASB ASC Topic 805, $6.0 $6.8 $3.1 not may Total consideration transferred (in thousands): Cash consideration $ 11,000 Stock consideration 4,000 Contingent consideration 856 Total consideration transferred $ 15,856 Fair Value of Net Assets Acquired The table below represents the purchase price allocation to the net assets acquired based on their fair values (amounts in thousands). Such amounts were estimated using the most recent financial statements from CBS as of November 11, 2019. Accounts receivable, net $ 1,044 Inventory 3,232 Prepaid expenses and other current assets 29 Property, plant and equipment, net 3,615 Customer relationships 560 Tradenames 800 Developed technology 5,430 Goodwill 2,954 Accounts payable (1,197 ) Other liabilities (611 ) Fair value of net assets acquired $ 15,856 The fair value of CBS’s identifiable intangible assets and weighted average useful lives have been estimated as follows (amounts in thousands except years): Estimated Fair Value Estimated Useful Life (Years) Customer relationships $ 560 6 Tradenames 800 6 Developed technology 5,430 9 Total identifiable intangible assets $ 6,790 Fair value measurement methodologies used to calculate the value of any asset can be broadly classified into one three three Some of the more significant assumptions inherent in the development of intangible asset fair values, from the perspective of a market participant, include, but are not not Acquired Goodwill The goodwill of $3.0 |
Note 4 - Inventory
Note 4 - Inventory | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 4 . Inventory Inventory consists of the following at March 31, 2020 December 31, 2019: (In thousands) March 31, 20 20 December 31, 201 9 Raw materials $ 3,282 $ 2,979 Work in progress 1,658 1,896 Finished goods 5,889 6,097 Total $ 10,829 $ 10,972 |
Note 5 - Assets Held for Rent
Note 5 - Assets Held for Rent | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Assets Held For Rent [Text Block] | 5. Assets held for rent Assets held for rent consist of the following at March 31, 2020 December 31, 2019: (In thousands) March 31, 2020 December 31, 2019 Shippers placed in service $ 3,748 $ 3,073 Accumulated deprecation (302 ) (174 ) Net 3,446 2,899 Shippers and related components in production 1,429 1,023 Total $ 4,875 $ 3,922 Shippers and related components in production include shippers complete and ready to be deployed and placed in service upon a customer order, shippers in the process of being assembled, and components available to build shippers. We recognized $128,000 three March 31, 2020. not three March 31, 2019 |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 6. Goodwill Goodwill represents the difference between the purchase price and the estimated fair value of identifiable assets acquired and liabilities assumed. Goodwill acquired in a business combination and determined to have an indefinite useful life is not 350. three March 31, 2020: (In thousands) Balance as of December 31, 2019 $ 33,637 Correction of an error related to CBS goodwill (131 ) Balance as of March 31, 2020 $ 33,506 We adjusted goodwill from the CBS acquisition related to an immaterial error of $131,000 December 31, 2019. $131,000. Intangible Assets Intangible assets, net consisted of the following at March 31, 2020: (In thousands, except weighted average useful life) March 31, 2020 Finite-lived intangible assets: Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life (in years) Customer Relationships $ 800 $ (88 ) $ 712 5.0 Tradenames 2,590 (205 ) 2,385 7.4 Technology – acquired 19,020 (1,473 ) 17,547 7.8 In-process R&D (1) 650 — 650 9.0 Total intangible assets $ 23,060 $ (1,766 ) $ 21,294 7.7 ( 1 not second 2020. Intangible assets, net consisted of the following at December 31, 2019: (In thousands, except weighted average useful life) December 31, 2019 Finite-lived intangible assets: Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life (in years) Customer Relationships $ 800 $ (51 ) $ 749 5.6 Tradenames 2,590 (123 ) 2,467 8.1 Technology – acquired 19,020 (904 ) 18,116 8.4 In-process R&D (1) 650 — 650 9.0 Total intangible assets $ 23,060 $ (1,078 ) $ 21,982 8.3 ( 1 not second 2020. Amortization expense for finite-lived intangible assets was $688,000 three March 31, 2020. no three March 31, 2019. second 2020, 9 March 31, 2020, (In thousands) For the Years Ended December 31, Estimated Amortization Expense 2020 (9 months remaining) $ 2,100 2021 2,825 2022 2,825 2023 2,795 2024 2,770 Thereafter 7,979 Total $ 21,294 |
Note 7 - Share-based Compensati
Note 7 - Share-based Compensation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 7 . Share-based Compensation Service Vesting-Based Stock Options The following is a summary of service vesting based stock option activity for the three March 31, 2020, March 31, 2020: Three Month s Ended March 31, 20 20 Options Weighted Avg. Exercise Price Outstanding at beginning of period 1,570,455 $ 1.96 Granted — $ — Exercised (251,180 ) $ 1.84 Forfeited — $ — Expired — $ — Outstanding at March 31, 2020 1,319,275 $ 1.98 Service vesting-based stock options exercisable at March 31, 2020 1,263,377 $ 1.96 We recognized stock compensation expense of $61,000 $144,000 three March 31, 2020 2019, March 31, 2020, $9.9 $9.5 March 31, 2020. March 31, 2020 2019 $3.0 $1.4 March 31, 2020 $86,000 1.2 Performance-based Stock Options The following is a summary of performance-based stock option activity under our stock option plans for the three March 31, 2020, March 31, 2020: Three Month s Ended March 31, 2020 Options Wtd. Avg. Exercise Price Outstanding at beginning of period 737,497 $ 1.64 Granted — $ — Exercised (17,113 ) $ 1.64 Outstanding performance-based at March 31, 2020 720,384 $ 1.64 Performance-based stock options exercisable at March 31, 2020 720,384 $ 1.64 As of March 31, 2020, $5.7 March 31, 2020. March 31, 2020, 1.7 March 31, 2020 There were no three March 31, 2020 2019. Restricted Stock Service vesting-based restricted stock The following is a summary of service vesting-based restricted stock activity for the three March 31, 2020, March 31, 2020: Thr ee Months Ended March 31, 20 20 Number of Grant-Date Unvested outstanding at beginning of period 429,399 $ 13.25 Granted 175,971 $ 9.43 Vested (53 026 ) $ 12.90 Forfeited (7,000 ) $ 15.92 Unvested outstanding at March 31, 2020 545,344 $ 12.01 The aggregate fair value of the service vesting-based awards granted during the three March 31, 2020 2019 $1.7 $2.6 $813,000 $853,000 three March 31, 2020 March 31, 2019, We recognized stock compensation expense of $394,000 $255,000 three March 31, 2020 March 31, 2019, March 31, 2020, $5.7 3.3 Performance-based restricted stock On March 25, 2020 82,805 2020 0% 125% $9.18 December 31, 2020. We recognized stock compensation expense of $189,000 three March 31, 2020 March 31, 2020, $571,000 0.8 Performance-based restricted stock in lieu of cash On March 25, 2020 34,154 $9.18 2019 September 25, 2020 December 31, 2019. Market-based restricted stock On February 25, 2019 94,247 April 1, 2019 29,604 0% 200% January 1, 2019 December 31, 2020 20 69%, 0% 2.5%. 2 0% 2 December 31, 2020. On March 25, 2020 109,140 0% 200% January 1, 2020 December 31, 2021 20 78%, 0% 0.3%. 2 0% 2 December 31, 2021. We recognized stock compensation expense of $469,000 $132,000 three March 31, 2020 2019, March 31, 2020, $2.6 1.2 We recorded total stock compensation expense for the three March 31, 2020 2019, Three Months Ended March 31, (In thousands) 20 20 201 9 Research and development costs $ 174 $ 67 Sales and marketing costs 229 154 General and administrative costs 577 278 Cost of product sales 133 32 Total $ 1,113 $ 531 |
Note 8 - Warrants
Note 8 - Warrants | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Warrants [Text Block] | 8 . Warrants In March 2014, 6,910,283 $4.75 March 2021. In May 2016, 550,000 $1.75 May 2021. The following table summarizes warrant activity for the three March 31, 2020: Shares Wtd. Avg. Exercise Price Outstanding at December 31, 2019 3,959,005 $ 4.33 Exercised (2,000 ) 4.75 Outstanding at March 31, 2020 3,957,005 $ 4.33 On May 14, 2020, Taurus4757 2,747,970 3,871,405 85,600 $4.75. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9. The Company accounts for income taxes under ASC Topic 740 We have recorded a full valuation allowance against our deferred tax assets. As we continue to have multiple quarters of positive net income, we will assess our valuation allowance. Based on all available evidence, we determined that we have not March 31, 2020. may On March 27, 2020, no 2020 |
Note 10 - Net Income (Loss) Per
Note 10 - Net Income (Loss) Per Common Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 10 . Net Income (Loss) per Common Share The Company considers its unexercised warrants and unvested restricted shares, which contain non-forfeitable rights to dividends, participating securities, and includes such participating securities in its computation of earnings per share pursuant to the two two two In periods when we have a net loss, common stock equivalents are excluded from our calculation of earnings per share as their inclusion would have an antidilutive effect. For the three March 31, 2020, 1.9 2.7 three March 31, 2019, 2.7 3.0 The following table presents computations of basic and diluted earnings per share under the two Three Month s Ended March 31, (In thousands, except per share and share data) 2 020 201 9 Numerator: Net income (loss) attributable to common stockholders: Basic $ 18,364 $ (19,161 ) Diluted $ (174 ) $ (19,161 ) Denominator: Basic and diluted weighted average shares outstanding 21,010,817 18,648,397 Basic earnings per share $ 0.87 $ (1.03 ) Diluted earnings per share $ (0.01 ) $ (1.03 ) |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 1 1 . Commitments and Contingencies Employment agreements We have employment agreements with our Chief Executive Officer, Chief Financial and Operating Officer, Chief Science Officer, Chief Quality Officer, Chief Marketing Officer, Chief Revenue Officer, Vice President, Freezer Technologies, and Vice President, Cold Chain Technologies Sales. None may Litigation From time to time, the Company is subject to various legal proceedings that arise in the ordinary course of business, none may not Indemnification As permitted under Delaware law and in accordance with the Company’s bylaws, the Company is required to indemnify its officers and directors for certain errors and occurrences while the officer or director is or was serving in such capacity. The Company is also party to indemnification agreements with its directors. The Company believes the fair value of the indemnification rights and agreements is minimal. Accordingly, the Company has not March 31, 2020. |
Note 12 - Revenue
Note 12 - Revenue | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 1 2 . Revenue We currently operate as one We generate revenue from the sale of bioproduction products, equipment devices, and related consumables used with these equipment devices to customers in the life science and biopharmaceutical industries. Under ASC 606, The Company also generates revenue from the leasing of our evo cold chain systems, which are typically cloud-connected shippers with enabling cold chain cloud applications, to customers pursuant to rental arrangements entered into with the customer. Revenue from the rental of cold chain systems is not 606 842, The following table represents revenues by product line: Three Months Ended March 31, (In thousands, except percentages) 2020 2019 Biopreservation media $ 8,672 $ 5,770 Automated thawing 394 –– evo shippers 438 –– Freezers and accessories 2,658 –– Total revenue $ 12,162 $ 5,770 |
Note 13 - Leases
Note 13 - Leases | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Leases [Text Block] | 1 3 . Leases We lease approximately 32,106 July 31, 2021 two five first August 1, 2021, second first $63,000 March 31, 2020, August October We lease approximately 1,250 July 1, 2020. $5,000 March 31, 2020. We lease approximately 9,932 December 31, 2021 two three first December 1, 2021, second December 1, 2024. $9,000 March 31, 2020, We lease approximately 106,998 November 30, 2020 one sixty November 12, 2020. not 842, not 12 two not $15,000 March 31, 2020, Operating leases recorded on our condensed consolidated balance sheet are primarily related to our Bothell, Washington headquarters space lease and our Albuquerque, New Mexico, SAVSU, space lease. We have not not not one Our financing lease is related to research equipment. We used a weighted average discount rate of 6.5%, 8.1%, 1.5 0.9 $1.3 $1.8 $233,000 $232,000 three March 31, 2020 $229,000, $170,000 $59,000 not three March 31, 2020 $217,000. three March 31, 2019, 840 $142,000. Maturities of our operating lease liabilities as of March 31, 2020 (In thousands) Operating Leases Financing Leases 2020 $ 656 $ 11 2021 559 3 Total lease payments 1,215 14 Less: interest (57 ) (1 ) Total present value of lease liabilities $ 1,158 $ 13 |
Note 14 - Consolidated Balance
Note 14 - Consolidated Balance Sheet Detail | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 14. C ondensed Consolidated Balance Sheet Detail Property and Equipment (In thousands) March 31, 2020 December 31, 2019 Property and equipment Leasehold improvements $ 2,137 $ 2,112 Furniture and computer equipment 810 794 Manufacturing and other equipment 5,261 5,187 Subtotal 8,208 8,093 Less: Accumulated depreciation (2,801 ) (2,521 ) Net property and equipment $ 5,407 $ 5,572 Depreciation expense for property and equipment was $285,000 $98,000 three March 31, 2020 2019, Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: (In thousands) March 31, 2020 December 31, 2019 Accrued expenses and other current liabilities $ 337 $ 302 Other payables 676 1,018 Accrued compensation 1,762 1,554 Deferred revenue 282 324 Other 23 171 Total accrued expenses and other current liabilities $ 3,080 $ 3,369 |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plan | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Defined Contribution Plan [Text Block] | 1 5 . Employee Benefit Plan The Company sponsors a 401 may 100% $84,000 $50,000 three March 31, 2020 2019, |
Note 16 - Subsequent Event
Note 16 - Subsequent Event | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 1 6 . Subsequent Event Paycheck Protection Program We determined that we met the original eligibility requirements per the guidelines original established by the U.S. federal government as part of the CARES Act for the Pursuant to the Paycheck Protection Program (the “PPP”). As such, on April 20, 2020, $2,175,320 April 29, 2020. Casdin Financing On May 22, 2020, $20 $10.50. 1,904,762 Cashless warrant exercises On May 14, 2020, Taurus4757 2,747,970 3,871,405 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The condensed consolidated financial statements included herein have been prepared by BioLife Solutions, Inc. in accordance with generally accepted accounting principles in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), for Quarterly Reports on Form 10 10 X not 10 December 31, 2019. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Astero Bio Corporation (“Astero,” and the Astero product line, “ThawStar” acquired on April 1, 2019), August 8, 2019), November 12, 2019). In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of only normal, recurring adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows. The results of operations for the interim periods presented are not Financial Statement Reclassification Certain classifications on the Condensed Consolidated Statements of Cash Flows related to Non cash lease expense and Accrued expenses and other current liabilities for the three March 31, 2019 no Significant Accounting P olicies There have been no three March 31, 2020, 10 |
Liquidity and Capital Resources [Policy Text Block] | Liquidity and Capital Resources On March 31, 2020 December 31, 2019, $6.4 April 1, 2019 $12.5 $8.5 not $484,000 2019 second 2020. August 8, 2019, 1,100,000 November 12, 2019, $11.0 $4.0 $15.0 not On May 22, 2020, $20 12 not 19 not may may 19 may not |
Risk and Uncertainties, Policy [Policy Text Block] | Risks and Uncertainties On March 10, 2020, 19 one 19 six nine no We have already experienced certain disruptions to our business such as temporary closure of our offices and similar disruptions may may 19 19 may may 19 19 19 There are many uncertainties regarding the current pandemic of the novel coronavirus (“COVID- 19” 19 19 not first March 31, 2020, 19 may $1.5 $2.0 may 19 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of credit risk and business risk In the three March 31, 2020, 25% two three March 31, 2019, 34% two No 10% three March 31, 2020 2019. three March 31, 2020 2019, 66% 90%, 2019, December 31, 2020. March 31, 2020, two 33% December 31, 2019, two 25% The following table represents the Company’s total revenue by geographic area (based on the location of the customer): Three Months Ended March 31, Revenue by customers’ geographic locations 2020 2019 United States 74 % 60 % Canada 11 % 23 % Europe, Middle East, Africa (EMEA) 12 % 13 % Other 3 % 4 % Total revenue 100 % 100 % |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements In August 2018, 2018 13, 820 2018 13 8: December 31, 2020 January 1, 2020 no In December 2019, 2019 12, 740 2019 12 740, not 2019 12 December 31, 2021, 2020. no 2019 12 In June 2016, No. 2016 13, 326 2016 13 2016 13 December 15, 2022, In August 2018, No. 2018 15, 350 40 2018 15 December 15, 2019, January 1, 2020. January 1, 2020 no |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Revenue from External Customers by Products and Services [Table Text Block] | Three Months Ended March 31, Revenue by customers’ geographic locations 2020 2019 United States 74 % 60 % Canada 11 % 23 % Europe, Middle East, Africa (EMEA) 12 % 13 % Other 3 % 4 % Total revenue 100 % 100 % |
Note 2 - Fair Value Measureme_2
Note 2 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | As of March 31, 20 20 Level 1 Level 2 Level 3 Total Assets: Money market accounts $ 6,400 $ — $ — $ 6,400 Convertible debt held at fair value — — 1,000 1,000 Total 6,400 — 1,000 7,400 Liabilities: Contingent consideration - business combinations — — 1,851 1,851 Warrant liability — — 17,667 17,667 Total $ — $ — $ 19,518 $ 19,518 As of December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Money market accounts $ 6,448 $ — $ — $ 6,448 Convertible debt held at fair value — — 1,000 1,000 Total 6,448 — 1,000 7,448 Liabilities: Contingent consideration - business combinations — — 1,914 1,914 Warrant liability — — 39,602 39,602 Total $ — $ — $ 41,516 $ 41,516 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | March 31, December 31, (In thousands) 2020 2019 Beginning balance $ 1,000 $ 1,000 Purchases — — Change in fair value recognized in net income — — Total $ 1,000 $ 1,000 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | March 31, December 31, (In thousands) 2020 2019 Beginning balance $ 1,914 $ — Additions — 2,347 Change in fair value recognized in net income (63 ) 50 Payments earned, reclassified to accrued liabilities — (483 ) Total $ 1,851 $ 1,914 |
Warrant Liabilities [Member] | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | March 31, December 31, (In thousands) 2020 2019 Beginning balance $ 39,602 $ 28,516 Exercised warrants (21 ) (1,749 ) Change in fair value recognized in net income (21,914 ) 12,835 Ending balance $ 17,667 $ 39,602 |
Note 3 - Acquisitions (Tables)
Note 3 - Acquisitions (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash consideration $ 12,521 Contingent consideration 1,491 Working capital adjustment (71 ) Total consideration transferred $ 13,941 Stock consideration for 55.6% equity interest purchased $ 19,932 Cash consideration $ 11,000 Stock consideration 4,000 Contingent consideration 856 Total consideration transferred $ 15,856 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Cash and cash equivalents $ 11 Accounts receivable, net 154 Inventory 456 Customer relationships 160 Tradenames 470 Developed technology 2,840 In-process research and development 650 Goodwill 9,515 Other assets 99 Accounts payable (250 ) Other liabilities (164 ) Fair value of net assets acquired $ 13,941 Cash and cash equivalents $ 1,251 Accounts receivable, net 753 Prepaid expenses and other current assets 19 Property, plant and equipment, net 546 Operating right-of-use asset 233 Assets held for rent, net 2,441 Customer relationships 80 Tradenames 1,320 Developed technology 10,750 Goodwill 21,037 Accounts payable and accrued expenses (807 ) Deferred tax liabilities (1,541 ) Other liabilities (232 ) Fair value of net assets acquired $ 35,850 Accounts receivable, net $ 1,044 Inventory 3,232 Prepaid expenses and other current assets 29 Property, plant and equipment, net 3,615 Customer relationships 560 Tradenames 800 Developed technology 5,430 Goodwill 2,954 Accounts payable (1,197 ) Other liabilities (611 ) Fair value of net assets acquired $ 15,856 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | Estimated Fair Value Estimated Useful Life (Years) Customer relationships $ 160 4 Tradenames 470 9 Developed technology 2,840 5 – 9 In-process research and development 650 9 Total identifiable intangible assets $ 4,120 Estimated Fair Value Estimated Useful Life (Years) Customer relationships $ 80 6 Tradenames 1,320 9 Developed technology 10,750 7 – 8 Total identifiable intangible assets $ 12,150 Estimated Fair Value Estimated Useful Life (Years) Customer relationships $ 560 6 Tradenames 800 6 Developed technology 5,430 9 Total identifiable intangible assets $ 6,790 |
Note 4 - Inventory (Tables)
Note 4 - Inventory (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | (In thousands) March 31, 20 20 December 31, 201 9 Raw materials $ 3,282 $ 2,979 Work in progress 1,658 1,896 Finished goods 5,889 6,097 Total $ 10,829 $ 10,972 |
Note 5 - Assets Held for Rent (
Note 5 - Assets Held for Rent (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Scheduleof Assets Held for Rent [Table Text Block] | (In thousands) March 31, 2020 December 31, 2019 Shippers placed in service $ 3,748 $ 3,073 Accumulated deprecation (302 ) (174 ) Net 3,446 2,899 Shippers and related components in production 1,429 1,023 Total $ 4,875 $ 3,922 |
Note 6 - Goodwill and Intangi_2
Note 6 - Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | (In thousands) Balance as of December 31, 2019 $ 33,637 Correction of an error related to CBS goodwill (131 ) Balance as of March 31, 2020 $ 33,506 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | (In thousands, except weighted average useful life) March 31, 2020 Finite-lived intangible assets: Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life (in years) Customer Relationships $ 800 $ (88 ) $ 712 5.0 Tradenames 2,590 (205 ) 2,385 7.4 Technology – acquired 19,020 (1,473 ) 17,547 7.8 In-process R&D (1) 650 — 650 9.0 Total intangible assets $ 23,060 $ (1,766 ) $ 21,294 7.7 (In thousands, except weighted average useful life) December 31, 2019 Finite-lived intangible assets: Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life (in years) Customer Relationships $ 800 $ (51 ) $ 749 5.6 Tradenames 2,590 (123 ) 2,467 8.1 Technology – acquired 19,020 (904 ) 18,116 8.4 In-process R&D (1) 650 — 650 9.0 Total intangible assets $ 23,060 $ (1,078 ) $ 21,982 8.3 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (In thousands) For the Years Ended December 31, Estimated Amortization Expense 2020 (9 months remaining) $ 2,100 2021 2,825 2022 2,825 2023 2,795 2024 2,770 Thereafter 7,979 Total $ 21,294 |
Note 7 - Share-based Compensa_2
Note 7 - Share-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Three Month s Ended March 31, 20 20 Options Weighted Avg. Exercise Price Outstanding at beginning of period 1,570,455 $ 1.96 Granted — $ — Exercised (251,180 ) $ 1.84 Forfeited — $ — Expired — $ — Outstanding at March 31, 2020 1,319,275 $ 1.98 Service vesting-based stock options exercisable at March 31, 2020 1,263,377 $ 1.96 Three Month s Ended March 31, 2020 Options Wtd. Avg. Exercise Price Outstanding at beginning of period 737,497 $ 1.64 Granted — $ — Exercised (17,113 ) $ 1.64 Outstanding performance-based at March 31, 2020 720,384 $ 1.64 Performance-based stock options exercisable at March 31, 2020 720,384 $ 1.64 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Thr ee Months Ended March 31, 20 20 Number of Grant-Date Unvested outstanding at beginning of period 429,399 $ 13.25 Granted 175,971 $ 9.43 Vested (53 026 ) $ 12.90 Forfeited (7,000 ) $ 15.92 Unvested outstanding at March 31, 2020 545,344 $ 12.01 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, (In thousands) 20 20 201 9 Research and development costs $ 174 $ 67 Sales and marketing costs 229 154 General and administrative costs 577 278 Cost of product sales 133 32 Total $ 1,113 $ 531 |
Note 8 - Warrants (Tables)
Note 8 - Warrants (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Shares Wtd. Avg. Exercise Price Outstanding at December 31, 2019 3,959,005 $ 4.33 Exercised (2,000 ) 4.75 Outstanding at March 31, 2020 3,957,005 $ 4.33 |
Note 10 - Net Income (Loss) P_2
Note 10 - Net Income (Loss) Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Month s Ended March 31, (In thousands, except per share and share data) 2 020 201 9 Numerator: Net income (loss) attributable to common stockholders: Basic $ 18,364 $ (19,161 ) Diluted $ (174 ) $ (19,161 ) Denominator: Basic and diluted weighted average shares outstanding 21,010,817 18,648,397 Basic earnings per share $ 0.87 $ (1.03 ) Diluted earnings per share $ (0.01 ) $ (1.03 ) |
Note 12 - Revenue (Tables)
Note 12 - Revenue (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Revenues By Product Line [Table Text Block] | Three Months Ended March 31, (In thousands, except percentages) 2020 2019 Biopreservation media $ 8,672 $ 5,770 Automated thawing 394 –– evo shippers 438 –– Freezers and accessories 2,658 –– Total revenue $ 12,162 $ 5,770 |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (In thousands) Operating Leases Financing Leases 2020 $ 656 $ 11 2021 559 3 Total lease payments 1,215 14 Less: interest (57 ) (1 ) Total present value of lease liabilities $ 1,158 $ 13 |
Note 14 - Consolidated Balanc_2
Note 14 - Consolidated Balance Sheet Detail (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In thousands) March 31, 2020 December 31, 2019 Property and equipment Leasehold improvements $ 2,137 $ 2,112 Furniture and computer equipment 810 794 Manufacturing and other equipment 5,261 5,187 Subtotal 8,208 8,093 Less: Accumulated depreciation (2,801 ) (2,521 ) Net property and equipment $ 5,407 $ 5,572 |
Schedule of Accrued Liabilities [Table Text Block] | (In thousands) March 31, 2020 December 31, 2019 Accrued expenses and other current liabilities $ 337 $ 302 Other payables 676 1,018 Accrued compensation 1,762 1,554 Deferred revenue 282 324 Other 23 171 Total accrued expenses and other current liabilities $ 3,080 $ 3,369 |
Note 1 - Organization and Sig_3
Note 1 - Organization and Significant Accounting Policies (Details Textual) | Nov. 12, 2019USD ($) | Aug. 08, 2019USD ($)shares | Apr. 01, 2019USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | May 22, 2020USD ($) | May 14, 2020USD ($) | Dec. 31, 2018USD ($) |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 6,400,000 | $ 31,824,000 | $ 6,448,000 | $ 30,657,000 | ||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||||||||
Concentration Risk, Percentage | 25.00% | 34.00% | ||||||||
Number of Major Customers | 2 | 2 | ||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||||||
Concentration Risk, Percentage | 33.00% | 25.00% | ||||||||
Number of Major Customers | 2 | 2 | ||||||||
CryoStor Products [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||||||||
Concentration Risk, Percentage | 66.00% | 90.00% | ||||||||
Minimum [Member] | Biopreservation Media [Member] | ||||||||||
Expected Incremental Revenue | $ 1,500,000 | |||||||||
Maximum [Member] | Biopreservation Media [Member] | ||||||||||
Expected Incremental Revenue | $ 2,000,000 | |||||||||
Subsequent Event [Member] | Casdin Capital LLC [Member] | ||||||||||
Share Repurchase Agreement, Amount of Shares to be Issued | $ 20,000,000 | $ 20,000,000 | ||||||||
Astero [Member] | ||||||||||
Payments to Acquire Businesses, Gross | $ 12,521,000 | |||||||||
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High | 8,500,000 | |||||||||
Payments to Acquire Businesses, Initial Cash Payment | 8,000,000 | |||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 8,500,000 | |||||||||
Astero [Member] | Forecast [Member] | ||||||||||
Payment for Contingent Consideration Liability, Investing Activities | $ 484,000 | |||||||||
SAVSU [Member] | ||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 1,100,000 | |||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 19,932,000 | |||||||||
CBS Acquisition [Member] | ||||||||||
Payments to Acquire Businesses, Gross | $ 11,000,000 | |||||||||
Payments to Acquire Businesses, Initial Cash Payment | 11,000,000 | |||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 4,000,000 | |||||||||
CBS Acquisition [Member] | Earning Payments Payable in Each Calendar Year 2020, 2021, 2022, 2023, and 2024 [Member] | ||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 15,000,000 |
Note 1 - Organization and Sig_4
Note 1 - Organization and Significant Accounting Policies - Concentrations Risk by Geographic Locations (Details) - Revenue Benchmark [Member] - Geographic Concentration Risk [Member] | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Revenue by customers’ geographic locations, percentage | 100.00% | 100.00% |
UNITED STATES | ||
Revenue by customers’ geographic locations, percentage | 74.00% | 60.00% |
CANADA | ||
Revenue by customers’ geographic locations, percentage | 11.00% | 23.00% |
EMEA [Member] | ||
Revenue by customers’ geographic locations, percentage | 12.00% | 13.00% |
Geographic, Other [Member] | ||
Revenue by customers’ geographic locations, percentage | 3.00% | 4.00% |
Note 2 - Fair Value Measureme_3
Note 2 - Fair Value Measurement - Financial Assets and Liabilities on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Assets | $ 7,400 | $ 7,448 |
Liabilities | 19,518 | 41,516 |
Contingent Consideration Liabilities [Member] | ||
Liabilities | 1,851 | |
Warrant Liabilities [Member] | ||
Liabilities | 17,667 | 39,602 |
Money Market Funds [Member] | ||
Assets | 6,400 | 6,448 |
Convertible Debt Securities [Member] | ||
Assets | 1,000 | 1,000 |
Contingent Consideration Liabilities [Member] | ||
Liabilities | 1,914 | |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | 6,400 | 6,448 |
Liabilities | ||
Fair Value, Inputs, Level 1 [Member] | Contingent Consideration Liabilities [Member] | ||
Liabilities | ||
Fair Value, Inputs, Level 1 [Member] | Warrant Liabilities [Member] | ||
Liabilities | ||
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Assets | 6,400 | 6,448 |
Fair Value, Inputs, Level 1 [Member] | Convertible Debt Securities [Member] | ||
Assets | ||
Fair Value, Inputs, Level 1 [Member] | Contingent Consideration Liabilities [Member] | ||
Liabilities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Liabilities | ||
Fair Value, Inputs, Level 2 [Member] | Contingent Consideration Liabilities [Member] | ||
Liabilities | ||
Fair Value, Inputs, Level 2 [Member] | Warrant Liabilities [Member] | ||
Liabilities | ||
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Assets | ||
Fair Value, Inputs, Level 2 [Member] | Convertible Debt Securities [Member] | ||
Assets | ||
Fair Value, Inputs, Level 2 [Member] | Contingent Consideration Liabilities [Member] | ||
Liabilities | ||
Fair Value, Inputs, Level 3 [Member] | ||
Assets | 1,000 | 1,000 |
Liabilities | 19,518 | 41,516 |
Fair Value, Inputs, Level 3 [Member] | Contingent Consideration Liabilities [Member] | ||
Liabilities | 1,851 | |
Fair Value, Inputs, Level 3 [Member] | Warrant Liabilities [Member] | ||
Liabilities | 17,667 | 39,602 |
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Assets | ||
Fair Value, Inputs, Level 3 [Member] | Convertible Debt Securities [Member] | ||
Assets | $ 1,000 | 1,000 |
Fair Value, Inputs, Level 3 [Member] | Contingent Consideration Liabilities [Member] | ||
Liabilities | $ 1,914 |
Note 2 - Fair Value Measureme_4
Note 2 - Fair Value Measurement - Fair Value of Assets Using Level 3 Input (Details) - Investments [Member] - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Beginning balance | $ 1 | $ 1 |
Purchases | ||
Change in fair value recognized in net income | ||
Total | $ 1 | $ 1 |
Note 2 - Fair Value Measureme_5
Note 2 - Fair Value Measurement - Fair Value of Liabilities Using Level 3 Input (Details) - Contingent Consideration Liabilities [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Beginning balance | $ 1,914 | |
Additions | 2,347 | |
Change in fair value recognized in net income | (63) | 50 |
Payments earned, reclassified to accrued liabilities | (483) | |
Total | $ 1,851 | $ 1,914 |
Note 2 - Fair Value Measureme_6
Note 2 - Fair Value Measurement - Fair Value of Warrant Liabilities Using Level 3 Inputs (Details) - Warrant Liabilities [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 39,602 | $ 39,602 | $ 28,516 |
Exercised warrants | (21) | (1,749) | |
Change in fair value recognized in net income | (21,914) | 12,835 | |
Total | $ 17,667 | $ 39,602 | $ 39,602 |
Note 3 - Acquisitions (Details
Note 3 - Acquisitions (Details Textual) - USD ($) | Nov. 12, 2019 | Aug. 08, 2019 | Apr. 01, 2019 | Mar. 31, 2020 | Dec. 31, 2019 | Nov. 11, 2019 | Aug. 07, 2019 | Mar. 31, 2019 |
Goodwill, Ending Balance | $ 33,506,000 | $ 33,637,000 | ||||||
Equity Method Investments | $ 27,000 | |||||||
SAVSU [Member] | ||||||||
Equity Method Investments | $ 5,800,000 | |||||||
Astero [Member] | ||||||||
Payments to Acquire Businesses, Gross | $ 12,521,000 | |||||||
Payments to Acquire Businesses, Initial Cash Payment | 8,000,000 | |||||||
Payments to Acquire Businesses, Deferred Cash Payment | 4,500,000 | |||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 1,491,000 | |||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 8,500,000 | |||||||
Business Combination, Contingent Consideration, Liability, Total | 1,500,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net Tangible Assets | 324,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 4,100,000 | |||||||
Goodwill, Ending Balance | 9,515,000 | $ 9,500,000 | ||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 1,100,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total | 13,941,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 12,150,000 | $ 4,120,000 | ||||||
Business Combination, Consideration Transferred, Total | 13,941,000 | |||||||
Astero [Member] | Earnout Payments Payable in Each Calendar Years of 2019, 2020 and 2021 [Member] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 3,500,000 | |||||||
Astero [Member] | Earnout Payment for Calendar Year 2021 [Member] | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 5,000,000 | |||||||
SAVSU [Member] | ||||||||
Goodwill, Ending Balance | $ 19,500,000 | $ 21,037,000 | ||||||
Business Combinations, Number of Shares Acquired (in shares) | 8,616 | |||||||
Business Acquisition, Percentage of Voting Interests Acquired | 55.60% | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 1,100,000 | |||||||
Share Price (in dollars per share) | $ 18.12 | |||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 19,932,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total | 35,800,000 | $ 35,850,000 | ||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | $ 15,900,000 | |||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 44.00% | |||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net, Total | $ 10,100,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tangible Assets, Net | 4,200,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 12,200,000 | |||||||
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination, Total | $ 35,800,000 | |||||||
CBS Acquisition [Member] | ||||||||
Payments to Acquire Businesses, Gross | $ 11,000,000 | |||||||
Payments to Acquire Businesses, Initial Cash Payment | 11,000,000 | |||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 856,000 | |||||||
Goodwill, Ending Balance | 3,100,000 | $ 2,954,000 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 4,000,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total | 15,856,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tangible Assets, Net | 6,000,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 6,800,000 | $ 6,790,000 | ||||||
Business Combination, Consideration Transferred, Total | 15,856,000 | |||||||
Business Combination, Cash Holdback Escrow to Satisfy Indemnification Claims | 550,000 | |||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Escrow Holdback | 3,000,000 | |||||||
CBS Acquisition [Member] | Earning Payments Payable in Each Calendar Year 2020, 2021, 2022, 2023, and 2024 [Member] | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 15,000,000 |
Note 3 - Acquisitions - Conside
Note 3 - Acquisitions - Consideration (Details) - USD ($) | Nov. 12, 2019 | Aug. 08, 2019 | Apr. 01, 2019 |
Astero [Member] | |||
Cash consideration | $ 12,521,000 | ||
Contingent consideration | 1,491,000 | ||
Working capital adjustment | (71,000) | ||
Total consideration transferred | $ 13,941,000 | ||
SAVSU [Member] | |||
Stock consideration | $ 19,932,000 | ||
CBS Acquisition [Member] | |||
Cash consideration | $ 11,000,000 | ||
Contingent consideration | 856,000 | ||
Total consideration transferred | 15,856,000 | ||
Stock consideration | $ 4,000,000 |
Note 3 - Acquisitions - Consi_2
Note 3 - Acquisitions - Consideration (Details) (Parentheticals) | Aug. 08, 2019 |
SAVSU [Member] | |
Percentage equity interest purchased | 55.60% |
Note 3 - Acquisitions - Fair Va
Note 3 - Acquisitions - Fair Value of Net Assets Acquired (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Nov. 12, 2019 | Nov. 11, 2019 | Aug. 08, 2019 | Aug. 07, 2019 | Apr. 01, 2019 | Mar. 31, 2019 |
Goodwill | $ 33,506,000 | $ 33,637,000 | ||||||
Astero [Member] | ||||||||
Cash and cash equivalents | $ 11,000 | |||||||
Accounts receivable, net | 154,000 | |||||||
Inventory | 456,000 | |||||||
Intangible assets | 12,150,000 | $ 4,120,000 | ||||||
Goodwill | 9,515,000 | 9,500,000 | ||||||
Other assets | 99,000 | |||||||
Accounts payable | (250,000) | |||||||
Other liabilities | 164,000 | |||||||
Fair value of net assets acquired | 13,941,000 | |||||||
Other liabilities | (164,000) | |||||||
Fair value of net assets acquired | 13,941,000 | |||||||
Inventory | 456,000 | |||||||
Astero [Member] | Customer Relationships [Member] | ||||||||
Intangible assets | 160,000 | 160,000 | ||||||
Astero [Member] | Trade Names [Member] | ||||||||
Intangible assets | 470,000 | 470,000 | ||||||
Astero [Member] | Developed Technology Rights [Member] | ||||||||
Intangible assets | 2,840,000 | 2,840,000 | ||||||
Astero [Member] | In Process Research and Development [Member] | ||||||||
Intangible assets | $ 650,000 | $ 650,000 | ||||||
SAVSU [Member] | ||||||||
Cash and cash equivalents | $ 1,251,000 | |||||||
Accounts receivable, net | 753,000 | |||||||
Intangible assets | $ 12,200,000 | |||||||
Goodwill | 19,500,000 | 21,037,000 | ||||||
Accounts payable | (807,000) | |||||||
Other liabilities | 232,000 | |||||||
Fair value of net assets acquired | 35,800,000 | 35,850,000 | ||||||
Prepaid expenses and other current assets | 19,000 | |||||||
Property, plant and equipment, net | 546,000 | |||||||
Operating right-of-use asset | 233,000 | 233,000 | ||||||
Assets held for rent, net | 2,441,000 | |||||||
Deferred tax liabilities | (1,541,000) | |||||||
Other liabilities | (232,000) | |||||||
Fair value of net assets acquired | $ 35,800,000 | 35,850,000 | ||||||
SAVSU [Member] | Customer Relationships [Member] | ||||||||
Intangible assets | 80,000 | |||||||
SAVSU [Member] | Trade Names [Member] | ||||||||
Intangible assets | 1,320,000 | |||||||
SAVSU [Member] | Developed Technology Rights [Member] | ||||||||
Intangible assets | $ 10,750,000 | |||||||
CBS Acquisition [Member] | ||||||||
Accounts receivable, net | $ 1,044,000 | |||||||
Inventory | 3,232,000 | |||||||
Intangible assets | $ 6,800,000 | 6,790,000 | ||||||
Goodwill | $ 3,100,000 | 2,954,000 | ||||||
Accounts payable | (1,197,000) | |||||||
Other liabilities | 611,000 | |||||||
Fair value of net assets acquired | 15,856,000 | |||||||
Prepaid expenses and other current assets | 29,000 | |||||||
Property, plant and equipment, net | 3,615,000 | |||||||
Other liabilities | (611,000) | |||||||
Fair value of net assets acquired | 15,856,000 | |||||||
Inventory | 3,232,000 | |||||||
CBS Acquisition [Member] | Customer Relationships [Member] | ||||||||
Intangible assets | 560,000 | |||||||
CBS Acquisition [Member] | Trade Names [Member] | ||||||||
Intangible assets | 800,000 | |||||||
CBS Acquisition [Member] | Developed Technology Rights [Member] | ||||||||
Intangible assets | $ 5,430,000 |
Note 3 - Acquisitions - Acquire
Note 3 - Acquisitions - Acquired Intangible Assets (Details) - USD ($) | Nov. 11, 2019 | Apr. 01, 2019 | Mar. 31, 2019 | Nov. 12, 2019 |
Astero [Member] | ||||
Intangible assets | $ 12,150,000 | $ 4,120,000 | ||
Astero [Member] | Customer Relationships [Member] | ||||
Intangible assets | $ 160,000 | $ 160,000 | ||
Intangible assets, estimated useful life (Year) | 6 years | 4 years | ||
Astero [Member] | Trade Names [Member] | ||||
Intangible assets | $ 470,000 | $ 470,000 | ||
Intangible assets, estimated useful life (Year) | 9 years | 9 years | ||
Astero [Member] | Developed Technology Rights [Member] | ||||
Intangible assets | $ 2,840,000 | $ 2,840,000 | ||
Astero [Member] | Developed Technology Rights [Member] | Minimum [Member] | ||||
Intangible assets, estimated useful life (Year) | 5 years | |||
Astero [Member] | Developed Technology Rights [Member] | Maximum [Member] | ||||
Intangible assets, estimated useful life (Year) | 9 years | |||
Astero [Member] | Technology-Based Intangible Assets [Member] | ||||
Intangible assets | $ 10,750,000 | |||
Astero [Member] | Technology-Based Intangible Assets [Member] | Minimum [Member] | ||||
Intangible assets, estimated useful life (Year) | 7 years | |||
Astero [Member] | Technology-Based Intangible Assets [Member] | Maximum [Member] | ||||
Intangible assets, estimated useful life (Year) | 8 years | |||
Astero [Member] | In Process Research and Development [Member] | ||||
Intangible assets | $ 650,000 | $ 650,000 | ||
Intangible assets, estimated useful life (Year) | 9 years | |||
CBS Acquisition [Member] | ||||
Intangible assets | $ 6,790,000 | $ 6,800,000 | ||
CBS Acquisition [Member] | Customer Relationships [Member] | ||||
Intangible assets | $ 560,000 | |||
Intangible assets, estimated useful life (Year) | 6 years | |||
CBS Acquisition [Member] | Trade Names [Member] | ||||
Intangible assets | $ 800,000 | |||
Intangible assets, estimated useful life (Year) | 6 years | |||
CBS Acquisition [Member] | Developed Technology Rights [Member] | ||||
Intangible assets | $ 5,430,000 | |||
Intangible assets, estimated useful life (Year) | 9 years |
Note 4 - Inventory - Summary of
Note 4 - Inventory - Summary of Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Raw materials | $ 3,282 | $ 2,979 |
Work in progress | 1,658 | 1,896 |
Finished goods | 5,889 | 6,097 |
Total | $ 10,829 | $ 10,972 |
Note 5 - Assets Held for Rent_2
Note 5 - Assets Held for Rent (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Assets Held for Rent, Depreciation | $ 128,000 | $ 0 |
Note 5 - Assets Held for Rent -
Note 5 - Assets Held for Rent - Assets Held for Rent (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Shippers placed in service | $ 3,748 | $ 3,073 |
Accumulated deprecation | (302) | (174) |
Net | 3,446 | 2,899 |
Shippers and related components in production | 1,429 | 1,023 |
Total | $ 4,875 | $ 3,922 |
Note 6 - Goodwill and Intangi_3
Note 6 - Goodwill and Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Goodwill, Purchase Accounting Adjustments | $ (131,000) | |
Increase (Decrease) in Accounts Payable, Total | 561,000 | |
Amortization of Intangible Assets, Total | 688,000 | $ 0 |
CBS Acquisition [Member] | Immaterial Error [Member] | ||
Goodwill, Purchase Accounting Adjustments | (131,000) | |
Increase (Decrease) in Accounts Payable, Total | $ (131,000) |
Note 6 - Goodwill and Intangi_4
Note 6 - Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Balance | $ 33,637 |
Correction of an error related to CBS goodwill | (131) |
Balance | $ 33,506 |
Note 6 - Goodwill and Intangi_5
Note 6 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | ||
Gross Carrying Value | $ 23,060,000 | $ 23,060,000 | |
Accumulated Amortization | (1,766,000) | (1,078,000) | |
Net Carrying Value | $ 21,294,000 | $ 21,982,000 | |
Weighted Average [Member] | |||
Weighted Average Useful Life (Year) | 7 years 255 days | 8 years 109 days | |
Customer Relationships [Member] | |||
Gross Carrying Value | $ 800,000 | $ 800,000 | |
Accumulated Amortization | (88,000) | (51,000) | |
Net Carrying Value | $ 712,000 | $ 749,000 | |
Customer Relationships [Member] | Weighted Average [Member] | |||
Weighted Average Useful Life (Year) | 5 years | 5 years 219 days | |
Trade Names [Member] | |||
Gross Carrying Value | $ 2,590,000 | $ 2,590,000 | |
Accumulated Amortization | (205,000) | (123,000) | |
Net Carrying Value | $ 2,385,000 | $ 2,467,000 | |
Trade Names [Member] | Weighted Average [Member] | |||
Weighted Average Useful Life (Year) | 7 years 146 days | 8 years 36 days | |
Technology-Based Intangible Assets [Member] | |||
Gross Carrying Value | $ 19,020,000 | $ 19,020,000 | |
Accumulated Amortization | (1,473,000) | (904,000) | |
Net Carrying Value | $ 17,547,000 | $ 18,116,000 | |
Technology-Based Intangible Assets [Member] | Weighted Average [Member] | |||
Weighted Average Useful Life (Year) | 7 years 292 days | 8 years 146 days | |
In Process Research and Development [Member] | |||
Gross Carrying Value | [1] | $ 650,000 | $ 650,000 |
Accumulated Amortization | |||
Net Carrying Value | [1] | $ 650,000 | $ 650,000 |
In Process Research and Development [Member] | Weighted Average [Member] | |||
Weighted Average Useful Life (Year) | [1] | 9 years | 9 years |
[1] | In-process R&D represents the fair value of incomplete research and development that has not yet reached technological feasibility. We will amortize the asset upon technological feasibility, which has reach technological feasibility and been placed in service in the second quarter of 2020. |
Note 6 - Goodwill and Intangi_6
Note 6 - Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
2020 (9 months remaining) | $ 2,100 | |
2021 | 2,825,000 | |
2022 | 2,825,000 | |
2023 | 2,795,000 | |
2024 | 2,770,000 | |
Thereafter | 7,979,000 | |
Total | $ 21,294,000 | $ 21,982,000 |
Note 7 - Share-based Compensa_3
Note 7 - Share-based Compensation (Details Textual) - USD ($) | Mar. 25, 2020 | Apr. 01, 2019 | Feb. 25, 2019 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 |
Share-based Payment Arrangement, Expense | $ 1,113,000 | $ 531,000 | ||||
Share-based Payment Arrangement, Option [Member] | ||||||
Share-based Payment Arrangement, Expense | 61,000 | 144,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 9,900,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 9,500,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 3,000,000 | 1,400,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 86,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 73 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | ||||
Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | ||||||
Performance Shares [Member] | Management Performance Bonus Plan 2017 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 5,700,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year) | 1 year 255 days | |||||
Restricted Stock [Member] | ||||||
Share-based Payment Arrangement, Expense | $ 394,000 | 255,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 5,700,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 109 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value | $ 1,700,000 | 2,600,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 813,000 | 853,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | 175,971 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 9.43 | |||||
Performance-based Restricted Stock [Member] | ||||||
Share-based Payment Arrangement, Expense | $ 189,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 571,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 292 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | 82,805 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 9.18 | |||||
Performance-based Restricted Stock [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards | 0.00% | |||||
Performance-based Restricted Stock [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards | 125.00% | |||||
Performance-based Restricted Stock in Lieu of Cash [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | 34,154 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 9.18 | |||||
Market-based Restricted Stock [Member] | ||||||
Share-based Payment Arrangement, Expense | $ 469,000 | $ 132,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 2,600,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 73 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | 109,140 | 29,604 | 94,247 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 78.00% | 69.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0.30% | 2.50% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 2 years | 2 years | ||||
Market-based Restricted Stock [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards | 0.00% | 0.00% | ||||
Market-based Restricted Stock [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards | 200.00% | 200.00% |
Note 7 - Share-based Compensa_4
Note 7 - Share-based Compensation - Stock Option Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Option [Member] | ||
Outstanding at beginning of period (in shares) | 1,570,455 | |
Outstanding at beginning of period (in dollars per share) | $ 1.96 | |
Granted (in shares) | 0 | 0 |
Granted, weighted average exercise price (in dollars per share) | ||
Exercised (in shares) | (251,180) | |
Exercised, weighted average exercise price (in dollars per share) | $ 1.84 | |
Forfeited (in shares) | ||
Forfeited, weighted average exercise price (in dollars per share) | ||
Expired (in shares) | ||
Expired, weighted average exercise price (in dollars per share) | ||
Outstanding (in shares) | 1,319,275 | 1,570,455 |
Outstanding at beginning of year, weighted average exercise price (in dollars per share) | $ 1.98 | $ 1.96 |
Service vesting-based stock options exercisable at March 31, 2020 (in shares) | 1,263,377 | |
Service vesting-based stock options exercisable at March 31, 2020 (in dollars per share) | $ 1.96 | |
Performance Shares [Member] | ||
Outstanding at beginning of period (in shares) | 737,497 | |
Outstanding at beginning of period (in dollars per share) | $ 1.64 | |
Granted (in shares) | ||
Granted, weighted average exercise price (in dollars per share) | ||
Exercised (in shares) | (17,113) | |
Exercised, weighted average exercise price (in dollars per share) | $ 1.64 | |
Outstanding (in shares) | 720,384 | 737,497 |
Outstanding at beginning of year, weighted average exercise price (in dollars per share) | $ 1.64 | $ 1.64 |
Service vesting-based stock options exercisable at March 31, 2020 (in shares) | 720,384 | |
Service vesting-based stock options exercisable at March 31, 2020 (in dollars per share) | $ 1.64 |
Note 7 - Share-based Compensa_5
Note 7 - Share-based Compensation - Restricted Stock Activity (Details) - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Unvested outstanding at beginning of period (in shares) | shares | 429,399 |
Unvested outstanding at beginning of period (in dollars per share) | $ / shares | $ 13.25 |
Unvested granted (in shares) | shares | 175,971 |
Granted, grant date fair value (in dollars per share) | $ / shares | $ 9.43 |
Vested (in shares) | shares | (53,026) |
Vested, grant date fair value (in dollars per share) | $ / shares | $ 12.90 |
Forfeited (in shares) | shares | (7,000) |
Forfeited, grant date fair value (in dollars per share) | $ / shares | $ 15.92 |
Unvested outstanding (in shares) | shares | 545,344 |
Unvested outstanding, grant date fair value (in dollars per share) | $ / shares | $ 12.01 |
Note 7 - Share-based Compensa_6
Note 7 - Share-based Compensation - Stock Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Stock compensation expense | $ 1,113 | $ 531 |
Research and Development Expense [Member] | ||
Stock compensation expense | 174 | 67 |
Selling and Marketing Expense [Member] | ||
Stock compensation expense | 229 | 154 |
General and Administrative Expense [Member] | ||
Stock compensation expense | 577 | 278 |
Cost of Sales [Member] | ||
Stock compensation expense | $ 133 | $ 32 |
Note 8 - Warrants (Details Text
Note 8 - Warrants (Details Textual) - $ / shares | May 14, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | May 31, 2016 | Mar. 31, 2014 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 4.33 | $ 4.33 | |||
Class of Warrant or Right, Exercised During Period (in shares) | 2,000 | ||||
Class of Warrant or Right, Outstanding (in shares) | 3,957,005 | 3,959,005 | |||
Warrants to Purchase Common Stock [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 6,910,283 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 4.75 | ||||
Warrants in Connection with WAVI Credit Facility [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 550,000 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.75 | ||||
WAVI Holding AG and Taurus4757 GmbH Warrants [Member] | Subsequent Event [Member] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 4.75 | ||||
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 2,747,970 | ||||
Class of Warrant or Right, Exercised During Period (in shares) | 3,871,405 | ||||
Class of Warrant or Right, Outstanding (in shares) | 85,600 |
Note 8 - Warrants - Summary of
Note 8 - Warrants - Summary of Warrant Activity (Details) | 3 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Outstanding, number of shares (in shares) | shares | 3,959,005 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 4.33 |
Exercised, number of shares (in shares) | shares | (2,000) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 4.75 |
Outstanding, number of shares (in shares) | shares | 3,957,005 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 4.33 |
Note 10 - Net Income (Loss) P_3
Note 10 - Net Income (Loss) Per Common Share (Details Textual) - shares shares in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1.9 | 2.7 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2.7 | 3 |
Note 10 - Net Income (Loss) P_4
Note 10 - Net Income (Loss) Per Common Share - Calculation of Diluted Shares (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Basic | $ 18,364 | $ (19,161) |
Diluted | $ (174) | $ (19,161) |
Basic and diluted weighted average shares outstanding (in shares) | 21,010,817 | 18,648,397 |
Basic earnings per share (in dollars per share) | $ 0.87 | $ (1.03) |
Diluted earnings per share (in dollars per share) | $ (0.01) | $ (1.03) |
Note 12 - Revenue (Details Text
Note 12 - Revenue (Details Textual) | 3 Months Ended |
Mar. 31, 2020 | |
Number of Operating Segments | 1 |
Note 12 - Revenue - Revenues by
Note 12 - Revenue - Revenues by Product Line (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Total revenue | $ 12,162 | $ 5,770 |
Biopreservation Media [Member] | ||
Total revenue | 8,672 | 5,770 |
Automated Thawing Products [Member] | ||
Total revenue | 394 | |
Evo Shippers [Member] | ||
Total revenue | 438 | |
Freezers and Accessories [Member] | ||
Total revenue | $ 2,658 |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) | 3 Months Ended | |||||
Mar. 31, 2020USD ($)ft² | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Aug. 08, 2019USD ($) | Aug. 07, 2019USD ($) | Jan. 01, 2019USD ($) | |
Operating Lease, Weighted Average Discount Rate, Percent | 6.50% | |||||
Finance Lease, Weighted Average Discount Rate, Percent | 8.10% | |||||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 1 year 182 days | |||||
Finance Lease, Weighted Average Remaining Lease Term (Year) | 328 days | |||||
Operating Lease, Right-of-Use Asset | $ 892,000 | $ 1,040,000 | $ 1,300,000 | |||
Operating Lease, Liability, Total | 1,158,000 | $ 1,800,000 | ||||
Lease Cost, Operating Leases | 229,000 | |||||
Operating Lease, Cost | 170,000 | |||||
Short-term Lease, Cost | 59,000 | |||||
Variable Lease, Cost | 0 | |||||
Operating Lease, Payments | $ 217,000 | |||||
Operating Leases, Rent Expense, Net, Total | $ 142,000 | |||||
SAVSU [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Right-of-use Asset | $ 233,000 | $ 233,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Operating Lease Liability | $ 232,000 | |||||
Bothell, Washington Headquarters [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 32,106 | |||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | |||||
Monthly Base Rent Expense | $ 63,000 | |||||
Menlo Park, California Location [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 1,250 | |||||
Monthly Base Rent Expense | $ 5,000 | |||||
Albuquerque, New Mexico Location [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 9,932 | |||||
Monthly Base Rent Expense | $ 9,000 | |||||
Detroit, Michigan Location [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 106,998 | |||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | |||||
Monthly Base Rent Expense | $ 15,000 |
Note 13 - Leases - Maturities o
Note 13 - Leases - Maturities of Lease Liabilities (Details) - USD ($) | Mar. 31, 2020 | Jan. 01, 2019 |
2020, operating leases | $ 656,000 | |
2020, financing leases | 11,000 | |
2021, operating leases | 559,000 | |
2021, financing leases | 3,000 | |
Total operating lease payments | 1,215,000 | |
Total financing lease payments | 14,000 | |
Less: operating lease interest | (57,000) | |
Less: financing lease interest | (1,000) | |
Total present value of operating lease liabilities | 1,158,000 | $ 1,800,000 |
Total present value of financing lease liabilities | $ 13,000 |
Note 14 - Consolidated Balanc_3
Note 14 - Consolidated Balance Sheet Detail (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Depreciation, Total | $ 285,000 | $ 98,000 |
Note 14 - Consolidated Balanc_4
Note 14 - Consolidated Balance Sheet Detail - Property and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Property and equipment | $ 8,208 | $ 8,093 |
Less: Accumulated depreciation | (2,801) | (2,521) |
Net property and equipment | 5,407 | 5,572 |
Leasehold Improvements [Member] | ||
Property and equipment | 2,137 | 2,112 |
Furniture and Computer Equipment [Member] | ||
Property and equipment | 810 | 794 |
Manufacturing Facility [Member] | ||
Property and equipment | $ 5,261 | $ 5,187 |
Note 14 - Consolidated Balanc_5
Note 14 - Consolidated Balance Sheet Detail - Accrued Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accrued expenses and other current liabilities | $ 337 | $ 302 |
Other payables | 676 | 1,018 |
Accrued compensation | 1,762 | 1,554 |
Deferred revenue | 282 | 324 |
Other | 23 | 171 |
Total accrued expenses and other current liabilities | $ 3,080 | $ 3,369 |
Note 15 - Employee Benefit Pl_2
Note 15 - Employee Benefit Plan (Details Textual) - Defined Contribution Plan, 401 K [Member] - Pension Plan [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 100.00% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 84,000 | $ 50,000 |
Note 16 - Subsequent Event (Det
Note 16 - Subsequent Event (Details Textual) - USD ($) | May 14, 2020 | Apr. 29, 2020 | Apr. 20, 2020 | Mar. 31, 2020 | May 22, 2020 |
Class of Warrant or Right, Exercised During Period (in shares) | 2,000 | ||||
Subsequent Event [Member] | |||||
Proceeds from Paycheck Protection Program Under CARES Act | $ 2,175,320 | ||||
Repayments of Loan From Paycheck Protection Program Under CARES Act | $ 2,175,320 | ||||
Subsequent Event [Member] | WAVI Holding AG and Taurus4757 GmbH Warrants [Member] | |||||
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 2,747,970 | ||||
Class of Warrant or Right, Exercised During Period (in shares) | 3,871,405 | ||||
Subsequent Event [Member] | Casdin Capital LLC [Member] | |||||
Share Repurchase Agreement, Amount of Shares to be Issued | $ 20,000,000 | $ 20,000,000 | |||
Share Repurchase Agreement, Shares Issued, Price Per Share (in dollars per share) | $ 10.50 | ||||
Share Repurchase Agreement, Shares to be Issued (in shares) | 1,904,762 |