Delcath Systems (DCTH) 10-Q 4 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 04, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	DELCATH SYSTEMS, INC.
Entity Central Index Key	872,912
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		24,118,491
Document Fiscal Year Focus	2,016
Trading Symbol	DCTH
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 9,545	$ 12,607
Accounts receivables, net	197	277
Inventories	835	757
Prepaid expenses and other current assets	880	960
Total current assets	11,457	14,601
Property, plant and equipment, net	1,070	1,132
Total assets	12,527	15,733
Current liabilities
Accounts payable	128	284
Accrued expenses	1,723	2,243
Warrant liability	2,051	3,785
Total current liabilities	3,902	6,312
Other non-current liabilities	767	820
Total liabilities	4,669	7,132
Commitments and Contingencies	0	0
Stockholders' equity
Preferred stock, $.01 par value; 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	0	0
Common stock, $.01 par value; 170,000,000 shares authorized; 24,696,248 and 22,341,574 shares issued and 24,118,491 and 21,763,817 shares outstanding at March 31, 2016 and December 31, 2015, respectively	247	223
Additional paid-in capital	270,692	269,654
Accumulated deficit	(263,030)	(261,217)
Treasury stock, at cost; 1,757 shares at March 31, 2016 and December 31, 2015, respectively	(51)	(51)
Accumulated other comprehensive income	0	(8)
Total stockholders' equity	7,858	8,601
Total liabilities and stockholders' equity	$ 12,527	$ 15,733

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	170,000,000	170,000,000
Common stock, shares issued (in shares)	24,696,248	22,341,574
Common stock, shares outstanding (in shares)	24,118,491	21,763,817
Treasury stock, at cost (in shares)	1,757	1,757

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenue	$ 370	$ 444
Cost of goods sold	(111)	(133)
Gross profit	259	311
Operating expenses:
Selling, general and administrative	2,377	3,040
Research and development	1,344	979
Total operating expenses	3,721	4,019
Operating loss	(3,462)	(3,708)
Change in fair value of the warrant liability, net	1,672	209
Other income (expense)	(23)	11
Net loss	(1,813)	(3,488)
Other comprehensive income (loss):
Foreign currency translation adjustments	8	(14)
Comprehensive loss	$ (1,805)	$ (3,502)
Common share data:
Basic and diluted loss per common share	$ (0.08)	$ (0.32)
Weighted average number of basic and diluted common shares outstanding	23,288,697	10,857,142

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (1,813)	$ (3,488)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock option compensation expense	95	102
Restricted stock compensation expense	138	22
Depreciation expense	87	196
Warrant liability fair value adjustment	(1,672)	(209)
Non-cash interest income	(2)	(1)
Changes in assets and liabilities:
Decrease (increase) in prepaid expenses and other assets	86	(14)
Decrease (increase) in accounts receivable	84	(156)
(Increase) decrease in inventories	(71)	65
Decrease in accounts payable and accrued expenses	(696)	(877)
Decrease in other non-current liabilities	(53)	(54)
Net cash used in operating activities	(3,817)	(4,414)
Cash flows from investing activities:
Purchase of property, plant and equipment	(15)	(45)
Proceeds from sales of property, plant and equipment	0	0
Net cash used in investing activities	(15)	(45)
Cash flows from financing activities:
Net proceeds from sale of stock and exercise of warrants	767	2,479
Net cash provided by financing activities	767	2,479
Foreign currency effects on cash and cash equivalents	3	(27)
Net decrease in cash and cash equivalents	(3,062)	(2,007)
Cash and cash equivalents:
Beginning of period	12,607	20,469
End of period	9,545	18,462
Supplemental non-cash activities:
Fair value of warrants issued	183	820
Fair value of warrants exercised	$ 245	$ 0

General

General	3 Months Ended
	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
General	(1) General The interim condensed consolidated financial statements of Delcath Systems, Inc. (“Delcath” or the “Company”) as of and for the three months ended March 31, 2016 and 2015 should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 (“Annual Report”), which has been filed with the Securities Exchange Commission (“SEC”) and can also be found on the Company’s website (www.delcath.com). In these notes the terms “us”, “we” or “our” refer to Delcath and its consolidated subsidiaries. Description of Business Delcath Systems, Inc. is a late-stage clinical development company with early commercial activity in Europe focused on cancers of the liver. We are a specialty pharmaceutical and medical device company developing of our proprietary product—Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS). In Europe, our proprietary system to deliver and filter melphalan hydrochloride is marketed as a device under the trade name Delcath Hepatic CHEMOSAT® Delivery System for Melphalan (CHEMOSAT). Our primary focus is on the execution of our clinical development program (CDP) in ocular melanoma liver metastases (mOM), intrahepatic cholangiocarcinoma (ICC), hepatocellular carcinoma (HCC or primary liver), and certain other cancers that are metastatic to the liver. We believe the disease states we are investigating represent a multi-billion dollar global market opportunity and a clear unmet medical need. Liquidity and Operating Matters The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred losses since inception and has accumulated deficit of $263.0 million at March 31, 2016. As shown in the accompanying financial statements during the three months ended March 31, 2016, the Company incurred net losses of $1.8 million and used $3.8 million of cash for its operating activities. These factors among others raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time. The Company’s existence is dependent upon management’s ability to obtain additional funding sources or to enter into strategic alliances. There can be no assurance that the Company’s efforts will result in the resolution of the Company’s liquidity needs. The accompanying statements do not include any adjustments that might result should the Company be unable to continue as a going concern. The Company has incurred losses since inception. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales. Management believes that its capital resources are adequate to fund operations through the third quarter of 2016, but anticipates that additional working capital will be required to continue operations. To the extent additional capital is not available when needed, the Company may be forced to abandon some or all of its development and commercialization efforts, which would have a material adverse effect on the prospects of the business. Operations of the Company are subject to certain risks and uncertainties, including, among others, uncertainties and risks related to clinical research, product development; regulatory approvals; technology; patents and proprietary rights; comprehensive government regulations; limited commercial manufacturing; marketing and sales experience; and dependence on key personnel. Basis of Presentation These interim condensed consolidated financial statements are unaudited and were prepared by the Company in accordance with generally accepted accounting principles in the United States of America (GAAP) and with the SEC’s instructions to Form 10-Q and Article 10 of Regulation S-X. They include the accounts of all entities controlled by Delcath and all significant inter-company accounts and transactions have been eliminated in consolidation. The preparation of interim financial statements requires management to make assumptions and estimates that impact the amounts reported. These interim condensed consolidated financial statements, in the opinion of management, reflect all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the Company’s results of operations, financial position and cash flows for the interim periods ended March 31, 2016 and 2015; however, certain information and footnote disclosures normally included in our Annual Report have been condensed or omitted as permitted by GAAP. It is important to note that the Company’s results of operations and cash flows for interim periods are not necessarily indicative of the results of operations and cash flows to be expected for a full fiscal year or any interim period. Significant Accounting Policies A description of our significant accounting policies has been provided in Note 3 Summary of Significant Accounting Policies Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”) that updates the principles for recognizing revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also amends the required disclosures of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company expects to adopt this guidance when effective, and does not anticipate that this guidance will materially impact its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements — Going Concern, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the ASU (1) provides a definition of the term substantial doubt, (2) requires an evaluation every reporting period including interim periods, (3) provides principles for considering the mitigating effect of management’s plans, (4) requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) requires an express statement and other disclosures when substantial doubt is not alleviated, and (6) requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). This standard is effective for the fiscal years ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company does not anticipate that this guidance will materially impact its consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. ASU 2015-11 more closely aligns the measurement of inventory in U.S. GAAP with the measurement of inventory in International Financial Reporting Standards by requiring companies using the first-in, first-out and average costs methods to measure inventory using the lower of cost and net realizable value, where net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. ASU 2015-11 is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those fiscal years. ASU 2015-11 should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Company does not anticipate that this guidance will materially impact its consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740). ASU 2015-17 requires deferred tax liabilities and assets to be classified as non-current on the consolidated condensed balance sheet. ASU 2015-17 is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those fiscal years and early application is permitted. ASU 2015-17 may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company does not anticipate that this guidance will materially impact its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases, which requires entities to report a right-to-use asset and liability for the obligation to make payments for all leases with the exception of those leases with a term of twelve months or less. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018. The Company is currently evaluating the impact of the pending adoption of ASU 2016-02 on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is permitted. The Company is currently evaluating the impact of the pending adoption of ASU 2016-09 on its consolidated financial statements.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	(2) Inventories Inventories consist of the following: (in thousands) March 31, 2016 December 31, 2015 Raw materials $ 353 $ 360 Work-in-process 326 251 Finished goods 156 146 Total inventory $ 835 $ 757

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2016
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Prepaid Expenses And Other Current Assets	(3) Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: (in thousands) March 31, 2016 December 31, 2015 Insurance premiums $ 441 $ 625 Kits for clinical use 238 162 Other 1 201 173 Total prepaid expenses and other current assets $ 880 $ 960 1

Property, Plant, and Equipment

Property, Plant, and Equipment	3 Months Ended
	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Property, Plant, and Equipment	(4) Property, Plant, and Equipment Property, plant, and equipment consist of the following: (in thousands) March 31, 2016 December 31, 2015 Buildings and land $ 556 $ 556 Enterprise hardware and software 1,522 1,520 Leaseholds 1,326 1,305 Equipment 910 902 Furniture 356 355 Property, plant and equipment, gross 4,670 4,638 Accumulated depreciation (3,600 ) (3,506 ) Property, plant and equipment, net $ 1,070 $ 1,132 Depreciation expense for the three months ended March 31, 2016 was approximately $0.1 million, as compared to approximately $0.2 million for the same period in 2015.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2016
Payables And Accruals [Abstract]
Accrued Expenses	(5) Accrued Expenses Accrued expenses consist of the following: (in thousands) March 31, 2016 December 31, 2015 Compensation, excluding taxes $ 395 $ 692 Professional fees 372 481 Short-term portion of lease restructuring 218 220 Clinical trial expenses 230 219 Other 1 508 631 Total accrued expenses $ 1,723 $ 2,243 1 Other consists of various accrued expenses, with no individual item accounting for more than 5% of current liabilities at March 31, 2016 and December 31, 2015.

Restructuring Expenses

Restructuring Expenses	3 Months Ended
	Mar. 31, 2016
Restructuring And Related Activities [Abstract]
Restructuring Expenses	(6) Restructuring Expenses Beginning in 2013, the Company implemented several workforce restructurings to reduce operating costs, better focus its organizational structure, increase efficiency and concentrate financial resources on its clinical development program and European commercialization activity. This resulted in a total reduction in the Company’s workforce by 59 employees. As a result of termination benefits provided to these employees the Company has incurred a total restructuring charge of approximately $5.5 million for employee related expenses. At March 31, 2016, there was no reserve on the condensed consolidated balance sheets related to the workforce restructurings as all termination benefits have been paid. In order to help reduce operating costs and more appropriately align its office space with the reduced size of its workforce, the Company entered into two sub-leases for office space at its 810 Seventh Avenue office. On May 22, 2014, the Company entered into a sub-lease agreement (“Sub-lease #1”) for approximately one-half of the office space at this location (“Suite 3500”), resulting in a lease restructuring reserve of approximately $0.9 million. On August 18, 2014, the Company entered into a sub-lease agreement (“Sub-lease #2”) for the remaining one-half of office space at its 810 Seventh Avenue office (“Suite 3505”), resulting in a lease restructuring reserve of approximately $0.7 million. As of March 31, 2016, the total remaining lease restructuring liability for its leased office space was approximately $1.0 million, of which approximately $0.2 million and $0.8 million were included in Accrued expenses and Other non-current liabilities on the condensed consolidated balance sheets, respectively. The following table provides the year-to-date activity of the Company’s restructuring reserves as of March 31, 2016: (in thousands) Employee Costs Lease Liability Total Liability Reserve balance at December 31, 2015 $ 71 $ 1,039 1,110 Charges — — — Payments/Utilizations (71 ) (54 ) (125 ) Reserve balance at March 31, 2016 $ — $ 985 985

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders Equity Note [Abstract]
Stockholders' Equity	(7) Stockholders’ Equity Stock Issuances At-the-Market (“ATM”) Programs In March 2013, the Company entered into an agreement with Cowen and Company LLC (“Cowen”) to sell shares of the Company’s common stock, par value $.01 per share, from time to time, through an ATM equity offering program having aggregate sales proceeds of $50.0 million, under which Cowen will act as sales agent. During the year ended December 31, 2013, the Company sold approximately 1.0 million shares of its common stock under this ATM program for proceeds of approximately $5.0 million, with net cash proceeds after related expenses of approximately $4.8 million. During the year ended December 31, 2014 the Company sold an additional 1.0 million shares of its common stock under this ATM program for proceeds of approximately $4.8 million, with net cash proceeds after related expenses of approximately $4.7 million. During the three months ended March 31, 2016, the Company sold an additional 50,000 shares for net proceeds of approximately $17,500. The shares were issued pursuant to an effective registration statement on Form S-3 (333-187230). The net proceeds will be used for general corporate purposes, including, but not limited to, commercialization of our products, obtaining regulatory approvals, funding of our clinical trials, capital expenditures and working capital. As of March 31, 2016, the Company has approximately $39.9 million remaining under the program subject to market conditions and certain limitations. Warrants In October 2013, the Company completed the sale of 1.3 million shares of its common stock and the issuance of warrants to purchase approximately 0.6 million common shares (the “2013 Warrants”) pursuant to a placement agency agreement. The Company received proceeds of $7.5 million, with net cash proceeds after related expenses from this transaction of approximately $6.9 million. Of those proceeds, the Company allocated an estimated fair value of $1.9 million to the 2013 Warrants. The exercise price is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting our common stock. At March 31, 2016, the 2013 Warrants were exercisable at $7.04 per share with approximately 0.6 million warrants outstanding. The 2013 Warrants have a five-year term. In February 2015, the Company completed the sale of 2.5 million shares of its common stock and the issuance of warrants to purchase 1.1 million common shares (the “February 2015 Warrants”) pursuant to an underwriting agreement. The Company received proceeds of $2.6 million, with net cash proceeds after related expenses from this transaction of $2.5 million. Of those proceeds, the Company allocated an estimated fair value of $0.8 million to the February 2015 Warrants. The exercise price is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting our common stock. The exercise price of the warrants is subject to anti-dilution adjustments for any issuance of common stock or rights to acquire common stock for consideration per share less than the exercise price of the warrants. At March 31, 2016, the February 2015 Warrants were exercisable at $0.355 per share with approximately 1.1 million warrants outstanding. The February 2015 Warrants have a five-year term. In July 2015, the Company completed the sale of 9.4 million Units consisting of 9.4 million shares of its common stock, Series A Warrants to purchase up to 7.0 million common shares (“July 2015 Series A Warrants”) and Series B Warrants to purchase Units consisting of up to 9.4 million common shares (“July 2015 Series B Warrants”) and 7.0 million July 2015 Series A Warrants pursuant to an underwriting agreement. The Company received proceeds of $7.0 million, with net cash proceeds after related expenses from this transaction of $6.0 million. Of those proceeds the Company allocated an estimated fair value of $3.4 million to the July 2015 Series A and Series B Warrants. The exercise price of both series of warrants is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting our common stock and is subject to anti-dilution adjustments for any issuance of common stock or rights to acquire common stock for consideration per share less than the exercise price of the warrants. During the three months ended March 31, 2016, 2.2 million July 2015 Series B Warrants were exercised for net proceeds of approximately $0.8 million. The remaining 7.1 million July 2015 Series B Warrants expired on January 29, 2016 and the remaining liability was credited to Change in the fair value of the warrant liability. As a result of the July 2015 Series B Warrant exercises, an additional 1.7 million Series A Warrants were issued. At March 31, 2016, the July 2015 Series A Warrants were exercisable at $0.355 with approximately 8.7 million warrants outstanding. The July 2015 Series A Warrants have a five-year term. Stock Incentive Plans The Company established the 2004 Stock Incentive Plan and the 2009 Stock Incentive Plan (collectively, the “Plans”) under which 187,500, and 1,506,250 shares, respectively, have been reserved for the issuance of stock options, stock appreciation rights, restricted stock, stock grants and other equity awards. In June 2015, the total number of shares of Delcath common stock reserved for issuance under the 2009 Stock Incentive Plan was increased by 1,100,000 shares, from 406,250 to 1,506,250 shares, upon a favorable vote by the Company’s stockholders. The Plans are administered by the Compensation and Stock Option Committee of the Board of Directors which determines the individuals to whom awards shall be granted as well as the type, terms, conditions, option price and the duration of each award. As of March 31, 2016 there were 114,121 A stock option grant allows the holder of the option to purchase a share of the Company’s common stock in the future at a stated price. Options and Restricted Stock granted under the Plans vest as determined by the Company’s Compensation and Stock Option Committee. Options granted under the Plans expire over varying terms, but not more than ten years from the date of grant. For the three months ended March 31, 2016 and 2015, the Company recognized compensation expense of approximately $0.1 million relating to stock options granted to employees. There were no stock options awards granted during the three months ended March 31, 2016 or 2015. For the three months ended March 31, 2016, the Company recognized compensation expense of approximately $0.1 million related to restricted stock granted to employees. For the same period in 2015, the Company recognized compensation expense of approximately $0.02 million. There were 75,000 shares of restricted stock granted during the three months ended March 31, 2016. There were no restricted stock awards granted for the same period in 2015.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	(8) Fair Value Measurements Derivative Warrant Liability As disclosed in Note 7 Stockholders’ Equity For the three months ended March 31, 2016, the Company recorded pre-tax derivative warrant income of $1.7 million. The resulting derivative warrant liabilities totaled $2.1 million at March 31, 2016. Management expects that the Warrants will either be exercised or expire worthless. The fair value of the Warrants at March 31, 2016 was determined by using option pricing models with the following assumptions: July 2015 Series A Warrants February 2015 Warrants October 2013 Warrants Expected volatility 93.81% 94.20% 92.70% Risk-free interest rates 1.04% 0.96% 0.80% Expected life (in years) 4.3 3.9 2.5 Money Market Funds The Company has determined that the inputs associated with the fair value determination of its money market funds are based on quoted prices (unadjusted) and, as a result, the investments have been classified within Level 1 of the fair value hierarchy. The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2016, aggregated by the level in the fair value hierarchy within which those measurements fall in accordance with ASC 820. Assets and Liabilities Measured at Fair Value on a Recurring Basis (in thousands) Level 1 Level 2 Level 3 Balance at March 31, 2016 Assets Money market funds (included in Cash and cash equivalents) $ 1,943 $ — $ — $ 1,943 Liabilities Derivative instrument liabilities $ — $ — $ 2,051 $ 2,051 For the periods ended March 31, 2016 and 2015, there were no transfers in or out of Level 1, 2 or 3 inputs. The table below presents the activity within Level 3 of the fair value hierarchy for the three months ended March 31, 2016: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in thousands) Warrant Liability Balance at December 31, 2015 $ 3,785 Total change in the liability included in earnings (1,672 ) Fair value of warrants issued 183 Fair value of warrants exercised (245 ) Balance at March 31, 2016 $ 2,051

Net Loss per Common Share

Net Loss per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Loss per Common Share	(9) Net Loss per Common Share Basic net loss per share is determined by dividing net loss by the weighted average shares of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share is determined by dividing net loss by diluted weighted average shares outstanding. Diluted weighted average shares reflects the dilutive effect, if any, of potentially dilutive common shares, such as stock options and warrants calculated using the treasury stock method. In periods with reported net operating losses, all common stock options and warrants are generally deemed anti-dilutive such that basic net loss per share and diluted net loss per share are equal. The following potentially dilutive securities were excluded from the computation of earnings per share as of March 31, 2016 and 2015 because their effects would be anti-dilutive: March 31, 2016 2015 Stock options 752,379 274,229 Unvested restricted shares 576,000 28,934 Warrants 10,381,952 1,957,157 Total 11,710,331 2,260,320

Taxes

Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Taxes	(10) Taxes As discussed in Note 13 Income Taxes The Company is subject to income tax in the U.S., as well as various state and international jurisdictions. During the third quarter of 2015, the Company was notified by the Internal Revenue Service that they will be examining the tax return for calendar year 2013. The effect of the outcome cannot be reasonably estimated as the exam is presently in its initial stages. However, the Company does not expect any material change to its financial statements as a result of this audit. Any proposed adjustments would result in an adjustment to the net operating loss carryforward for which a valuation allowance has been provided against the full amount. The Company has not been audited by the international tax authorities or any states in connection with income taxes. The Company’s New York State tax returns have been subject to annual desk reviews which have resulted in insignificant adjustments to the related franchise tax liabilities and credits. The Company’s tax years generally remain open to examination for all federal, state and foreign tax matters until its net operating loss carryforwards are utilized and the applicable statutes of limitation have expired. The federal and state tax authorities can generally reduce a net operating loss (but not create taxable income) for a period outside the statute of limitations in order to determine the correct amount of net operating loss which may be allowed as a deduction against income for a period within the statute of limitations.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	(11) Subsequent Events The Company completed an evaluation of the impact of any subsequent events through the date financial statements were issued and determined there were no subsequent events requiring disclosure in or adjustment to these financial statements.

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Liquidity and Operating Matters	Liquidity and Operating Matters The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred losses since inception and has accumulated deficit of $263.0 million at March 31, 2016. As shown in the accompanying financial statements during the three months ended March 31, 2016, the Company incurred net losses of $1.8 million and used $3.8 million of cash for its operating activities. These factors among others raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time. The Company’s existence is dependent upon management’s ability to obtain additional funding sources or to enter into strategic alliances. There can be no assurance that the Company’s efforts will result in the resolution of the Company’s liquidity needs. The accompanying statements do not include any adjustments that might result should the Company be unable to continue as a going concern. The Company has incurred losses since inception. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales. Management believes that its capital resources are adequate to fund operations through the third quarter of 2016, but anticipates that additional working capital will be required to continue operations. To the extent additional capital is not available when needed, the Company may be forced to abandon some or all of its development and commercialization efforts, which would have a material adverse effect on the prospects of the business. Operations of the Company are subject to certain risks and uncertainties, including, among others, uncertainties and risks related to clinical research, product development; regulatory approvals; technology; patents and proprietary rights; comprehensive government regulations; limited commercial manufacturing; marketing and sales experience; and dependence on key personnel.
Basis of Presentation	Basis of Presentation These interim condensed consolidated financial statements are unaudited and were prepared by the Company in accordance with generally accepted accounting principles in the United States of America (GAAP) and with the SEC’s instructions to Form 10-Q and Article 10 of Regulation S-X. They include the accounts of all entities controlled by Delcath and all significant inter-company accounts and transactions have been eliminated in consolidation. The preparation of interim financial statements requires management to make assumptions and estimates that impact the amounts reported. These interim condensed consolidated financial statements, in the opinion of management, reflect all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the Company’s results of operations, financial position and cash flows for the interim periods ended March 31, 2016 and 2015; however, certain information and footnote disclosures normally included in our Annual Report have been condensed or omitted as permitted by GAAP. It is important to note that the Company’s results of operations and cash flows for interim periods are not necessarily indicative of the results of operations and cash flows to be expected for a full fiscal year or any interim period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”) that updates the principles for recognizing revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also amends the required disclosures of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company expects to adopt this guidance when effective, and does not anticipate that this guidance will materially impact its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements — Going Concern, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the ASU (1) provides a definition of the term substantial doubt, (2) requires an evaluation every reporting period including interim periods, (3) provides principles for considering the mitigating effect of management’s plans, (4) requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) requires an express statement and other disclosures when substantial doubt is not alleviated, and (6) requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). This standard is effective for the fiscal years ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company does not anticipate that this guidance will materially impact its consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. ASU 2015-11 more closely aligns the measurement of inventory in U.S. GAAP with the measurement of inventory in International Financial Reporting Standards by requiring companies using the first-in, first-out and average costs methods to measure inventory using the lower of cost and net realizable value, where net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. ASU 2015-11 is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those fiscal years. ASU 2015-11 should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Company does not anticipate that this guidance will materially impact its consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740). ASU 2015-17 requires deferred tax liabilities and assets to be classified as non-current on the consolidated condensed balance sheet. ASU 2015-17 is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those fiscal years and early application is permitted. ASU 2015-17 may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company does not anticipate that this guidance will materially impact its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases, which requires entities to report a right-to-use asset and liability for the obligation to make payments for all leases with the exception of those leases with a term of twelve months or less. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018. The Company is currently evaluating the impact of the pending adoption of ASU 2016-02 on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is permitted. The Company is currently evaluating the impact of the pending adoption of ASU 2016-09 on its consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consist of the following: (in thousands) March 31, 2016 December 31, 2015 Raw materials $ 353 $ 360 Work-in-process 326 251 Finished goods 156 146 Total inventory $ 835 $ 757

Prepaid Expenses and Other Cu19

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following: (in thousands) March 31, 2016 December 31, 2015 Insurance premiums $ 441 $ 625 Kits for clinical use 238 162 Other 1 201 173 Total prepaid expenses and other current assets $ 880 $ 960

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Components of property, plant and equipment	Property, plant, and equipment consist of the following: (in thousands) March 31, 2016 December 31, 2015 Buildings and land $ 556 $ 556 Enterprise hardware and software 1,522 1,520 Leaseholds 1,326 1,305 Equipment 910 902 Furniture 356 355 Property, plant and equipment, gross 4,670 4,638 Accumulated depreciation (3,600 ) (3,506 ) Property, plant and equipment, net $ 1,070 $ 1,132

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Payables And Accruals [Abstract]
Schedule of accrued expenses	Accrued expenses consist of the following: (in thousands) March 31, 2016 December 31, 2015 Compensation, excluding taxes $ 395 $ 692 Professional fees 372 481 Short-term portion of lease restructuring 218 220 Clinical trial expenses 230 219 Other 1 508 631 Total accrued expenses $ 1,723 $ 2,243 1 Other consists of various accrued expenses, with no individual item accounting for more than 5% of current liabilities at March 31, 2016 and December 31, 2015.

Restructuring Expenses (Tables)

Restructuring Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring And Related Activities [Abstract]
Schedule of restructuring and related costs	The following table provides the year-to-date activity of the Company’s restructuring reserves as of March 31, 2016: (in thousands) Employee Costs Lease Liability Total Liability Reserve balance at December 31, 2015 $ 71 $ 1,039 1,110 Charges — — — Payments/Utilizations (71 ) (54 ) (125 ) Reserve balance at March 31, 2016 $ — $ 985 985

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of fair value of the warrants	The fair value of the Warrants at March 31, 2016 was determined by using option pricing models with the following assumptions: July 2015 Series A Warrants February 2015 Warrants October 2013 Warrants Expected volatility 93.81% 94.20% 92.70% Risk-free interest rates 1.04% 0.96% 0.80% Expected life (in years) 4.3 3.9 2.5
Assets and liabilities measured at fair value on a recurring basis	The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2016, aggregated by the level in the fair value hierarchy within which those measurements fall in accordance with ASC 820. Assets and Liabilities Measured at Fair Value on a Recurring Basis (in thousands) Level 1 Level 2 Level 3 Balance at March 31, 2016 Assets Money market funds (included in Cash and cash equivalents) $ 1,943 $ — $ — $ 1,943 Liabilities Derivative instrument liabilities $ — $ — $ 2,051 $ 2,051
Fair value measurements using significant unobservable inputs	The table below presents the activity within Level 3 of the fair value hierarchy for the three months ended March 31, 2016: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in thousands) Warrant Liability Balance at December 31, 2015 $ 3,785 Total change in the liability included in earnings (1,672 ) Fair value of warrants issued 183 Fair value of warrants exercised (245 ) Balance at March 31, 2016 $ 2,051

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from the computation of earnings per share	The following potentially dilutive securities were excluded from the computation of earnings per share as of March 31, 2016 and 2015 because their effects would be anti-dilutive: March 31, 2016 2015 Stock options 752,379 274,229 Unvested restricted shares 576,000 28,934 Warrants 10,381,952 1,957,157 Total 11,710,331 2,260,320

General - Additional Informatio

General - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Net loss	$ 1,813	$ 3,488
Net cash used in operating activities	(3,817)	$ (4,414)
Accumulated deficit	$ (263,030)		$ (261,217)

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 353	$ 360
Work-in-process	326	251
Finished goods	156	146
Total inventory	$ 835	$ 757

Prepaid Expenses and Other Cu27

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Prepaid Expense And Other Assets Current [Abstract]
Insurance premiums	$ 441	$ 625
Kits for clinical use	238	162
Other	201	173
Total prepaid expenses and other current assets	$ 880	$ 960

Prepaid Expenses and Other Cu28

Prepaid Expenses and Other Current Assets - Additional Information (Details)	Mar. 31, 2016	Dec. 31, 2015
Prepaid Expense And Other Assets Current [Abstract]
Maximum percentage of prepaid expenses and other current assets (in hundredths)	5.00%	5.00%

Property, Plant, and Equipmen29

Property, Plant, and Equipment - Components of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 4,670	$ 4,638
Accumulated depreciation	(3,600)	(3,506)
Property, plant and equipment, net	1,070	1,132
Buildings and Land [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	556	556
Enterprise Hardware and Software [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	1,522	1,520
Leaseholds [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	1,326	1,305
Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	910	902
Furniture [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 356	$ 355

Property, Plant, and Equipmen30

Property, Plant, and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Property Plant And Equipment [Abstract]
Depreciation expense	$ 87	$ 196

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Payables And Accruals [Abstract]
Compensation, excluding taxes	$ 395	$ 692
Professional fees	372	481
Short-term portion of lease restructuring	218	220
Clinical trial expenses	230	219
Other	508	631
Total accrued expenses	$ 1,723	$ 2,243

Accrued Expenses - Schedule o32

Accrued Expenses - Schedule of Accrued Expenses (Parenthetical) (Details)	Mar. 31, 2016	Dec. 31, 2015
Payables And Accruals [Abstract]
Maximum percentage of current liabilities accrued (in hundredths)	5.00%	5.00%

Restructuring Expenses - Additi

Restructuring Expenses - Additional Information (Details)	Aug. 18, 2014USD ($)	May. 22, 2014USD ($)	Mar. 31, 2016USD ($)Lease	Dec. 31, 2013USD ($)Employee	Dec. 31, 2015USD ($)
Restructuring Cost And Reserve [Line Items]
Severance costs				$ 5,500,000
Restructuring reserve balance			$ 985,000		$ 1,110,000
Property Subject to Operating Lease [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance			$ 985,000		1,039,000
Number of sub leases | Lease			2
Other non-current liabilities [Member] | Property Subject to Operating Lease [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance			$ 800,000
Accrued Expenses [Member] | Property Subject to Operating Lease [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance			200,000
Operating Expense [Member]
Restructuring Cost And Reserve [Line Items]
Number of positions eliminated | Employee				59
Employee Costs [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance			$ 0		$ 71,000
Facility Closing [Member] | Sub-lease 1 [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve charges		$ 900,000
Facility Closing [Member] | Sub Lease 2 [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve charges	$ 700,000

Restructuring Expenses - Schedu

Restructuring Expenses - Schedule of Restructuring and Related Costs (Details)	3 Months Ended
	Mar. 31, 2016USD ($)
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance	$ 1,110,000
Payments/Utilizations	(125,000)
Restructuring reserve balance	985,000
Employee Costs [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance	71,000
Payments/Utilizations	(71,000)
Restructuring reserve balance	0
Lease Liability [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance	1,039,000
Payments/Utilizations	(54,000)
Restructuring reserve balance	$ 985,000

Stockholders' Equity - Stock Is

Stockholders' Equity - Stock Issuances - Additional Information (Details) - USD ($)	1 Months Ended			3 Months Ended	12 Months Ended
	Jul. 31, 2015	Feb. 28, 2015	Oct. 31, 2013	Mar. 31, 2016	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Mar. 31, 2013
Stockholders Equity Note [Line Items]
Common stock, par value (in dollars per share)				$ 0.01			$ 0.01
Sale of common stock, net of expenses (in shares)	9,400,000	2,500,000	1,300,000
Proceeds of common stock issued, net of related expenses	$ 6,000,000
ATM Programs [Member] | Cowen and Company, LLC [Member]
Stockholders Equity Note [Line Items]
Common stock, par value (in dollars per share)								$ 0.01
Aggregate proceeds from sale of common stock under equity offering program, maximum								$ 50,000,000
Sale of common stock, net of expenses (in shares)				50,000	1,000,000	1,000,000
Proceeds from issuance of common stock					$ 4,800,000	$ 5,000,000
Proceeds of common stock issued, net of related expenses				$ 17,500	$ 4,700,000	$ 4,800,000
Aggregate proceeds from sale of common stock under equity offering program, remaining				$ 39,900,000

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants -Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			3 Months Ended
	Jul. 31, 2015	Feb. 28, 2015	Oct. 31, 2013	Mar. 31, 2016
Class Of Warrant Or Right [Line Items]
Sale of common stock, net of expenses (in shares)	9,400,000	2,500,000	1,300,000
Proceeds from issuance of private placement		$ 2.6	$ 7.5
Net proceeds from issuance of private placement		$ 2.5	$ 6.9
Sale of units to underwriter	9,400,000
Proceeds of common stock issued, net of related expenses	$ 6
Series A Common Stock Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants exercisable per share price (in dollars per share)				$ 0.355
Number of warrants outstanding (in shares)				8,700,000
Number of warrants converted	7,000,000			1,700,000
Gross proceeds from underwriting offering	$ 7
Warrants expiry period				5 years
Series B Common Stock Warrants [Member]
Class Of Warrant Or Right [Line Items]
Number of warrants converted	9,400,000
Warrants exercised (in shares)				2,200,000
Net proceeds from exercise of warrants				$ 0.8
Remaining outstanding warrants expired				7,100,000
Warrants expiration date				Jan. 29, 2016
Series A and B Common Stock Warrants [Member]
Class Of Warrant Or Right [Line Items]
Value of warrants issued	$ 3.4
2013 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants issued (in shares)			600,000
Value of warrants issued			$ 1.9
Warrants exercisable per share price (in dollars per share)				$ 7.04
Number of warrants outstanding (in shares)				600,000
Term period for warrants				5 years
February 2015 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants issued (in shares)		1,100,000
Value of warrants issued		$ 0.8
Warrants exercisable per share price (in dollars per share)				$ 0.355
Number of warrants outstanding (in shares)				1,100,000
Term period for warrants				5 years

Stockholders' Equity - Stock In

Stockholders' Equity - Stock Incentive Plans - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2016	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option compensation expense		$ 95	$ 102
Restricted stock compensation expense		138	22
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option compensation expense		$ 100	$ 100
Stock options granted		0	0
Stock Options [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted, term		10 years
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted		75,000	0
Restricted stock compensation expense		$ 100	$ 20
2004 Stock Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for the issuance (in shares)		187,500
2009 Stock Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for the issuance (in shares)	406,250	1,506,250
Increased number of shares (in shares)	1,100,000
Shares available for grant		114,121

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Input	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Fair Value Disclosures [Abstract]
Number of inputs used for valuation of warrants | Input	6
Derivative warrant liability [Abstract]
Change in fair value of the warrant liability, net	$ 1,672	$ 209
Derivative warrant liabilities	$ 2,051		$ 3,785

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Warrants (Details)	3 Months Ended
	Mar. 31, 2016
July 2015 Series A Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected volatility (in hundredths)	93.81%
Risk-free interest rates (in hundredths)	1.04%
Expected life (in years)	4 years 3 months 18 days
February 2015 Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected volatility (in hundredths)	94.20%
Risk-free interest rates (in hundredths)	0.96%
Expected life (in years)	3 years 10 months 24 days
October 2013 Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected volatility (in hundredths)	92.70%
Risk-free interest rates (in hundredths)	0.80%
Expected life (in years)	2 years 6 months

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring [Member] $ in Thousands	Mar. 31, 2016USD ($)
Derivative Instruments Liabilities [Member]
Liabilities [Abstract]
Total Liabilities	$ 2,051
Level 3 [Member] | Derivative Instruments Liabilities [Member]
Liabilities [Abstract]
Total Liabilities	2,051
Money Market Funds [Member]
Assets [Abstract]
Total Assets	1,943
Money Market Funds [Member] | Level 1 [Member]
Assets [Abstract]
Total Assets	$ 1,943

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements Using Significant Unobservable Inputs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Roll Forward]
Balance at December 31, 2015	$ 3,785
Total change in the liability included in earnings	(1,672)
Fair value of warrants issued	183	$ 820
Fair value of warrants exercised	(245)	$ 0
Balance at March 31, 2016	$ 2,051

Net Loss per Common Share - Ant

Net Loss per Common Share - Anti-Dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	11,710,331	2,260,320
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	752,379	274,229
Unvested Restricted Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	576,000	28,934
Warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	10,381,952	1,957,157