Delcath Systems (DCTH) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 08, 2017
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		167,883,213
Document Fiscal Year Focus	2,017
Trading Symbol	DCTH
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents		$ 6,404	$ 4,409
Restricted cash		20,737	27,287
Accounts receivables, net		386	403
Inventories		873	660
Prepaid expenses and other current assets		624	698
Deferred financing costs		949	699
Total current assets		29,973	34,156
Property, plant and equipment, net		1,066	1,083
Total assets		31,039	35,239
Current liabilities
Accounts payable		699	594
Accrued expenses		3,548	3,407
Convertible notes payable, net of debt discount		9,290	13,343
Warrant liability		17,513	18,751
Total current liabilities		31,050	36,095
Deferred revenue		30	30
Other non-current liabilities		545	604
Total liabilities		31,625	36,729
Commitments and Contingencies
Stockholders' deficit
Preferred stock, $.01 par value; 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively		0	0
Common stock, $.01 par value; 500,000,000 shares authorized; 118,568,425 and 4,131,527 shares issued and 118,457,971 and 4,112,417 shares outstanding at March 31, 2017 and December 31, 2016, respectively	[1]	1,186	41
Additional paid-in capital		288,862	277,749
Accumulated deficit		(290,520)	(279,188)
Treasury stock, at cost; 110 shares at March 31, 2017 and December 31, 2016, respectively	[1]	(51)	(51)
Accumulated other comprehensive income		(63)	(41)
Total stockholders' deficit		(586)	(1,490)
Total liabilities and stockholders' deficit		$ 31,039	$ 35,239
[1]	reflects a one-for-sixteen (1:16) reverse stock split effected on July 21, 2016

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical)	Mar. 31, 2017$ / sharesshares	Dec. 31, 2016$ / sharesshares
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share) | $ / shares	$ 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) | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	118,568,425	4,131,527
Common stock, shares outstanding (in shares)	118,457,971	4,112,417
Treasury stock, at cost (in shares)	110	110

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Revenue		$ 743	$ 370
Cost of goods sold		219	111
Gross profit		524	259
Operating expenses:
Selling, general and administrative		2,415	2,377
Research and development		2,321	1,344
Total operating expenses		4,736	3,721
Operating loss		(4,212)	(3,462)
Change in fair value of the warrant liability, net		1,238	1,672
Interest income (expense)		(8,366)	5
Other income (expense)		8	(28)
Net loss		(11,332)	(1,813)
Other comprehensive income (loss):
Foreign currency translation adjustments		(22)	8
Comprehensive loss		$ (11,354)	$ (1,805)
Common share data:
Basic and diluted loss per common share	[1]	$ (0.25)	$ (1.25)
Weighted average number of basic and diluted common shares outstanding	[1]	45,084,357	1,455,544
[1]	reflects a one-for-sixteen (1:16) reverse stock split effected on July 21, 2016

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parenthetical)	Jul. 21, 2016
Income Statement [Abstract]
Reverse stock split ratio	0.0625

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity Deficit (Unaudited) - 3 months ended Mar. 31, 2017 - USD ($) $ in Thousands	Total	Common Stock Issued [Member]	Treasury Stock [Member]	Additional Paid in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive loss [Member]
Balance at Dec. 31, 2016	$ (1,490)	$ 41	$ (51)	$ 277,749	$ (279,188)	$ (41)
Balance (in shares) at Dec. 31, 2016		4,131,527	(110)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation expense for issuance of stock options	21			21
Compensation expense for issuance of restricted stock	27	$ 1		26
Compensation expense for issuance of restricted stock (in shares)		91,344
Issuance of common stock for payments made in shares on convertible note payable	12,210	$ 1,144		11,066
Issuance of common stock for payments made in shares on convertible note payable (in shares)		114,345,554
Net loss	(11,332)				(11,332)
Total comprehensive loss	(22)					(22)
Balance at Mar. 31, 2017	$ (586)	$ 1,186	$ (51)	$ 288,862	$ (290,520)	$ (63)
Balance (in shares) at Mar. 31, 2017		118,568,425	(110)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Stockholders' Equity Deficit (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016	Jul. 21, 2016
Statement Of Stockholders Equity [Abstract]
Common stock issued, par value	$ 0.01	$ 0.01	$ 0.01

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (11,332)	$ (1,813)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock option compensation expense	21	95
Restricted stock compensation expense	27	138
Depreciation expense	74	87
Loss on disposal of equipment	20	0
Warrant liability fair value adjustment	(1,238)	(1,672)
Non-cash interest income	(2)	(2)
Deferred revenue	0	0
Debt discount and deferred finance costs amortization	8,363	0
Changes in assets and liabilities:
Decrease in prepaid expenses and other assets	117	86
Decrease (increase) in accounts receivable	(94)	84
Increase in inventories	(115)	(71)
Increase (decrease) in accounts payable and accrued expenses	401	(696)
Decrease in other non-current liabilities	(59)	(53)
Net cash used in operating activities	(3,817)	(3,817)
Cash flows from investing activities:
Purchase of property, plant and equipment	(58)	(15)
Net cash used in investing activities	(58)	(15)
Cash flows from financing activities:
Net proceeds from the release of restricted cash	6,091	0
Net proceeds from sale of stock and exercise of warrants	0	767
Net cash provided by financing activities	6,091	767
Foreign currency effects on cash and cash equivalents	(221)	3
Net increase (decrease) in cash and cash equivalents	1,995	(3,062)
Cash and cash equivalents:
Beginning of period	4,409	12,607
End of period	6,404	9,545
Supplemental non-cash activities:
Conversion of convertible notes	12,210	0
Fair value of warrants issued	0	183
Fair value of warrants exercised	$ 0	$ 245

General

General	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 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, 2016 (“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 an interventional oncology Company focused on the treatment of primary and metastatic liver cancers. Our investigational product—Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS) —is designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects. In Europe, our system is in commercial development under the trade name Delcath Hepatic CHEMOSAT ® ® Our primary research focus is on 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. Our clinical development program for CHEMOSAT/Melphalan/HDS is comprised of: The FOCUS Clinical Trial for Patients with Hepatic Dominant Ocular Melanoma, a Global Phase 3 clinical trial that is investigating overall survival in mOM, and plan to initiate a registration trial for intrahepatic cholangiocarcinoma (ICC) in the fall of 2017. 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 an accumulated deficit of $290.5 $11.3 $3.8 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. As a result of issuing $35.0 million in senior secured convertible notes in June 2016, management believes that its capital resources are adequate to fund operations through the end of 2017. 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, 2017 and 2016; 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 the Company beginning in its fiscal year 2018, and may be applied retrospectively to all prior periods presented or through a cumulative adjustment to the opening retained earnings balance in the year of adoption. The Company intends to adopt this standard on January 1, 2018 and does not anticipate that this guidance will materially impact its consolidated financial statements. In February 2016, the FASB issued ASU No. 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 intends to adopt this standard on January 1, 2019 and is currently evaluating the impact it may have on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230). The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The ASU is effective for public companies for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including interim periods within those fiscal years. An entity that elects early adoption must adopt all of the amendments in the same period. The guidance requires application using a retrospective transition method. The Company is currently evaluating the effects, if any, that the adoption of this guidance will have on the Company’s financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The new guidance requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years, and early adoption is permitted. The Company intends to adopt this standard on January 1, 2018 and is evaluating the effects, if any, that the adoption of this guidance will have on the Company’s financial statements.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	(2) Inventories Inventories consist of the following: (in thousands) March 31, 2017 December 31, 2016 Raw materials $ 289 $ 346 Work-in-process 469 214 Finished goods 115 100 Total inventories $ 873 $ 660

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2017
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, 2017 December 31, 2016 Insurance premiums $ 357 $ 501 Security Deposit 50 50 Other 1 217 147 Total prepaid expenses and other current assets $ 624 $ 698 1 Other consists of various prepaid expenses and other current assets, with no individual item accounting for more than 5% of prepaid expenses and other current assets at March 31, 2017 and December 31, 2016.

Property, Plant, and Equipment

Property, Plant, and Equipment	3 Months Ended
	Mar. 31, 2017
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, 2017 December 31, 2016 Buildings and land $ 574 $ 556 Enterprise hardware and software 1,546 1,532 Leaseholds 1,531 1,504 Equipment 837 940 Furniture 179 354 Property, plant and equipment, gross 4,667 4,886 Accumulated depreciation (3,601 ) (3,803 ) Property, plant and equipment, net $ 1,066 $ 1,083 Depreciation expense for the three months ended March 31, 2017 was approximately $0.1 million, as compared to approximately $0.1 million for the same period in 2016.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2017
Payables And Accruals [Abstract]
Accrued Expenses	(5) Accrued Expenses Accrued expenses consist of the following: (in thousands) March 31, 2017 December 31, 2016 Compensation, excluding taxes $ 418 $ 933 Clinical trial expenses 1,867 1,365 Professional fees 256 286 Short-term portion of lease restructuring 222 216 Other 1 785 607 Total accrued expenses $ 3,548 $ 3,407 1 Other consists of various accrued expenses, with no individual item accounting for more than 5% of current liabilities at March 31, 2017 and December 31, 2016.

Restructuring Expenses

Restructuring Expenses	3 Months Ended
	Mar. 31, 2017
Restructuring And Related Activities [Abstract]
Restructuring Expenses	(6) Restructuring Expenses 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, 2017, the total remaining lease restructuring liability for its leased office space was approximately $0.8 million, of which approximately $0.3 million and $0.5 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, 2017: (in thousands) Lease Liability Reserve balance at December 31, 2016 $ 820 Charges — Payments/Utilizations (53 ) Reserve balance at March 31, 2017 $ 767

Convertible Notes Payable

Convertible Notes Payable	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Convertible Notes Payable	(7) Convertible Notes Payable On June 6, 2016, the Company entered into a Securities Purchase Agreement (the “SPA”) with certain investors named on the Schedule of Buyers attached to the SPA pursuant to which the Company issued $35.0 million in principal face amount of senior secured convertible notes of the Company (the “Notes”) and related Series C Warrants (the “Series C Warrants”) to purchase additional shares of the Company’s common stock, par value $0.01 per share (“Common Stock”). $35.0 million of the Notes were issued for cash proceeds of $32.2 million with an original issue discount in the amount of $2.8 million. The Notes do not bear any ordinary interest. However, interest shall commence accruing immediately upon the occurrence of, and shall continue accruing during the continuance of, an Event of Default, at 15% per annum and shall be computed on the basis of a 360-day year of twelve 30-day months and shall be payable, if applicable, in arrears for each calendar month on the first (1st) business day of each calendar month after any such interest accrues after an Event of Default. Under the terms of the Notes, at closing the Company received an initial tranche of $3.0 million for immediate use for general corporate purposes. A second tranche of $3.0 million was released to the Company in December 2016. An additional $6.6 million was released during the three months ended March 31, 2017. Under the terms of warrant repurchase agreements signed in April 2017 and discussed in more detail below, $7.9 million was returned to the holders in exchange for the extinguishment of the Series C Warrants. such that the balance will become unrestricted by the maturity date of the Notes, December 29, 2017, subject to satisfaction of certain conditions contained in the Notes. In connection with the issuance of the Notes under the SPA, the Company also issued Series C Warrants, exercisable to acquire 6.8 million shares of Common Stock. The provisions in the Series C Warrants required the Company to account for the warrants as derivative liabilities. The Company recognized a discount to debt of $27.8 million related to the initial fair value of the Series C Warrants. On April 2, 2017 the Company entered into separate warrant repurchase agreements (the “Warrant Repurchase Agreements”) with each of the investors named on the Schedule of Buyers attached to the SPA. Pursuant to the Warrant Repurchase Agreements, each investor agreed to a Controlled Account Release, in an aggregate amount equal to $7.9 million, which funds in each case are to be paid to the respective investor, in exchange for cancellation of the Warrants issued to each investor under the SPA. The Company has agreed to make amortization payments with respect to the Notes in fourteen (14) equal installments beginning seven (7) months after the original date of issuance of June 13, 2016 (each, an “Installment Date”). On each installment date, assuming certain equity conditions are met, the installment payment shall, at the election of the Company, automatically be converted into shares of Common Stock at a conversion rate defined in the agreement. At any time after the issuance of the Notes, the Notes will be convertible at the election of the holder into shares of our Common Stock at a conversion price equal to $4.39, subject to adjustment as provided in the Notes. The Company issued shares of Common Stock as installment payments of principal (including certain early repayments at the option of the holders) under the Notes as follows: Number of Shares of Common Stock Applicable Conversion Price Reduction in Principal January 12, 2017 4,113,520 $ 0.36 $ 1,478,318 February 10, 2017 15,358,864 $ 0.20 $ 3,045,817 March 13, 2017 41,054,082 $ 0.11 $ 4,417,830 April 10, 2017 59,171,335 $ 0.06 $ 3,621,286 From January 26, 2017 until February 1, 2017, the Company and the holders of the Notes agreed to a temporary reduction in the conversion price thereof to $0.32 per share in order to encourage voluntary conversion of Notes by the holders thereof. The Company issued an aggregate of 1,700,000 shares of Common Stock as a result of such conversions. This resulted in a $0.5 million reduction in principal. From February 23, 2017 until March 2, 2017, the Company and the holders of the Notes agreed to a temporary reduction in the conversion price thereof to $0.14 per share in order to encourage voluntary conversion of Notes by the holders thereof. The Company issued an aggregate of 900,000 shares of Common Stock as a result of such conversions. This resulted in a $0.1 million reduction in principal. As a result of the Notes including a feature such that the conversion price is based upon a formula which includes discounts to the market price of the common stock as well as having a lower effective conversion price considering the issuance discount and the value allocated to the Series C Warrants 22.1 put options in the event of default and change in control as defined in the Notes. The value of such options was zero as the probability for such events was remote as of the issuance date and at March 31, 2017. All debt issuance costs are accounted for as a deferred asset and will be amortized over the life of the Notes. As of March 31, 2017, the Company had incurred approximately $1.0 million in debt issuance costs and had amortized approximately $0.5 million of those costs. The following table summarizes the convertible notes outstanding at March 31, 2017: (in thousands) Convertible notes payable, principal $ 22,143 Debt discounts (12,853 ) Net convertible note payable $ 9,290

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Stockholders Equity Note [Abstract]
Stockholders' Equity	(8) Stockholders’ Equity Stock Issuances Reverse Stock Split On July 19, 2016, shareholders of the Company approved, through a shareholder vote, an amendment to the Company’s Amended and Restated Certificate of Incorporation authorizing the Board of Directors to effect a reverse stock split of Delcath’s common stock at a ratio within a range of one-for-ten (1:10) to one-for-twenty (1:20). The reverse stock split became effective on July 21, 2016 at which time Delcath’s common stock began trading on the NASDAQ Stock Exchange on a one-for-sixteen (1:16) split-adjusted basis. All owners of record as of the open of the NASDAQ market on July 21, 2016 received one issued and outstanding share of Delcath common stock in exchange for sixteen issued and outstanding shares of Delcath common stock. No fractional shares were issued in connection with the reverse stock split. All fractional shares created by the one-for-sixteen exchange were rounded up to the next whole share. The reverse stock split had no impact on the par value per share of Delcath common stock, which remains at $0.01. All current and prior period amounts related to shares, share prices and earnings per share, presented in the Company’s interim condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q and the accompanying Notes, have been restated to give retrospective presentation for the reverse stock split. In addition, shareholders of the Company also approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 170,000,000 to 500,000,000. The previously discussed reverse stock split had no impact on the increase in authorized shares. Warrants In October 2013, the Company completed the sale of 81,875 shares of its common stock and the issuance of warrants to purchase approximately 37,000 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, 2017, the 2013 Warrants were exercisable at $112.64 per share with approximately 37,000 warrants outstanding. The 2013 Warrants have a five-year term. In February 2015, the Company completed the sale of 153,750 shares of its common stock and the issuance of warrants to purchase 69,000 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 also 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, 2017, the February 2015 Warrants were exercisable at $0.14 per share with approximately 30,000 warrants outstanding. The February 2015 Warrants have a five-year term. In July 2015, the Company completed the sale of approximately 0.6 million Units consisting of 0.6 million shares of its common stock, Series A Warrants to purchase up to approximately 0.4 million common shares (“Series A Warrants”) and Series B Warrants to purchase Units consisting of up to approximately 0.6 million common shares (“Series B Warrants”) and 0.4 million 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 Series A and Series B Warrants. During the three months ended March 31, 2016, approximately 0.1 million Series B Warrants were exercised for net proceeds of approximately $0.8 million. The remaining 0.4 million 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 Series B Warrant exercises, an additional 0.1 million Series A Warrants were issued. The exercise price of the Series A 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. At March 31, 2017, the Series A Warrants were exercisable at $0.14 with approximately 0.3 million warrants outstanding. The Series A Warrants have a five-year term. In June 2016, the Company entered into a Securities Purchase Agreement pursuant to which the Company issued $35.0 million in principal face amount of senior secured convertible notes of the Company (the “Notes”) and related Series C Warrants (the “Series C Warrants”) to purchase 6.8 million additional shares of the Company’s common stock. The Company allocated an estimated fair value of $27.8 million to the Series C Warrants. On April 2, 2017 the Company entered into Warrant Repurchase Agreements with each of the investors named on the Schedule of Buyers attached to the SPA. Pursuant to the Warrant Repurchase Agreements, each investor agreed to a Controlled Account Release, in an aggregate amount equal to $7.9 million, which funds in each case are to be paid to the respective investor, in exchange for cancellation of the Series C Warrants issued to each investor under the SPA. In October 2016, the Company completed the sale of 425,000 shares of its common stock and the issuance of warrants to purchase 148,750 common shares (the “October 2016 Warrants”) pursuant to an underwriting agreement. The Company received proceeds of $1.2 million, with net cash proceeds after related expenses from this transaction of $1.1 million. Of those proceeds, the Company allocated an estimated fair value of $0.3 million to the October 2016 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 also 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. For purposes of these adjustments, dilutive issuances do not include securities issued under existing instruments, under board-approved equity incentive plans or in certain strategic transactions. At March 31, 2017, the October 2016 Warrants were exercisable at $0.14 per share with 0.1 million warrants outstanding. The October 2016 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 11,719 and 200,391 shares, respectively, have been reserved for the issuance of stock options, stock appreciation rights, restricted stock, stock grants and other equity awards. In July 2016, the total number of shares of Delcath common stock reserved for issuance under the 2009 Stock Incentive Plan was increased by 106,250 shares, from 94,141 to 200,391 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, 2017 there were 15,724 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, 2017, the Company recognized compensation expense of approximately $21,000 relating to stock options granted to employees. For the same period in 2016, the Company recognized compensation expense of approximately $0.1 million. There were 15,000 stock options awards granted during the three months ended March 31, 2017. There were no stock option awards granted during the same period in 2016. For the three months ended March 31, 2017, the Company recognized compensation expense of approximately $27,000 relating to restricted stock granted to employees. For the same period in 2016, the Company recognized compensation expense of approximately $0.1 million. There were 92,250 shares of restricted stock granted during the three months ended March 31, 2017. There were approximately 4,687 shares of restricted stock awards granted for the same period in 2016.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	(9) Fair Value Measurements Derivative Warrant Liability As disclosed in Note 8 of the Company’s interim condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q, the Company allocated part of the proceeds of public offerings in 2013, 2015 and 2016 of the Company’s common stock to warrants issued in connection with those transactions. In addition, the Company recognized a discount to debt related to the initial fair value of warrants issued in connection with the June 2016 Convertible Notes discussed in further detail in Note 7 of the Company’s interim condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q. The valuation of the October 2013, February 2015, July 2015 Series A, June 2016 Series C and October 2016 warrants (collectively, the “Warrants”) were determined using option pricing models. These models use inputs such as the underlying price of the shares issued at the measurement date, volatility, risk free interest rate and expected life of the instrument. The Company has classified the Warrants as a current liability due to certain provisions relating to price adjustments and potential cash payments, as well as the holders’ ability to exercise the warrants within twelve months of the reporting date and has accounted for them as derivative instruments in accordance with ASC 815, adjusting the fair value at the end of each reporting period. Additionally, the Company has determined that the warrant derivative liability should be classified within Level 3 of the fair-value hierarchy by evaluating each input for the option pricing models against the fair-value hierarchy criteria and using the lowest level of input as the basis for the fair-value classification as called for in ASC 820. There are six inputs: closing price of Delcath stock on the day of evaluation; the exercise price of the warrants; the remaining term of the warrants; the volatility of Delcath’s stock over that term; annual rate of dividends; and the risk-free rate of return. Of those inputs, the exercise price of the warrants and the remaining term are readily observable in the warrant agreements. The annual rate of dividends is based on the Company’s historical practice of not granting dividends. The closing price of Delcath stock would fall under Level 1 of the fair-value hierarchy as it is a quoted price in an active market (ASC 820-10). The risk-free rate of return is a Level 2 input as defined in ASC 820-10, while the historical volatility is a Level 3 input as defined in ASC 820. Since the lowest level input is a Level 3, Delcath determined the warrant derivative liability is most appropriately classified within Level 3 of the fair value hierarchy. For the three months ended March 31, 2017, the Company recorded pre-tax derivative warrant income of $1.2 million. The resulting derivative warrant liabilities totaled $17.5 million at March 31, 2017. Management expects that the Warrants will either be exercised or expire worthless. The fair value of the Warrants at March 31, 2017 was determined by using option pricing models with the following assumptions: October 2016 Warrants June 2016 Series C Warrants July 2015 Series A Warrants February 2015 Warrants October 2013 Warrants Expected volatility 100.25% 98.67% 96.16% 95.91% 170.88% Risk-free interest rates 1.82% 1.93% 1.61% 1.50% 1.19% Expected life (in years) 4.52 5.21 3.31 2.88 1.58 The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2017, 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, 2017 Liabilities Derivative instrument liabilities $ — $ — $ 17,513 $ 17,513 For the periods ended March 31, 2017 and 2016, 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, 2017: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in thousands) Warrant Liability Balance at December 31, 2016 $ 18,751 Total change in the liability included in earnings (1,238 ) Fair value of warrants issued — Fair value of warrants exercised — Balance at March 31, 2017 $ 17,513

Net Loss per Common Share

Net Loss per Common Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Loss per Common Share	(10) 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, 2017 and 2016 because their effects would be anti-dilutive: March 31, 2017 2016 Stock options 55,930 47,024 Unvested restricted shares 110,339 36,000 Warrants 7,216,020 648,872 Total 7,382,289 731,896

Taxes

Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Taxes	(11) 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 ongoing. 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, 2017
Subsequent Events [Abstract]
Subsequent Events	(12) Subsequent Events On April 2, 2017, the Company entered into separate Warrant Repurchase Agreements with each of the investors named on the Schedule of Buyers attached to the Company’s Securities Purchase Agreement with those investors, dated June 6, 2016 (the “SPA). Pursuant to the Warrant Repurchase Agreements, each investor agreed to a Controlled Account Release, in an aggregate amount equal to $7,876,312, which funds in each case were paid to the respective investor, in exchange for cancellation of the Warrants issued to each investor under the SPA. The Company anticipates that the cash remaining in the Controlled Accounts after this transaction will be sufficient to fund its operating activities through the end of 2017. The cancellation of the Warrants as a result of these Warrant Repurchase Agreements represents the extinguishment of a liability from the Company’s balance sheet as of the end of fiscal year 2016 of approximately $18.0 million, which will resolve the shortfall by the Company in meeting its minimum shareholder equity continued listing requirement for the Nasdaq Capital Market as of December 31, 2016, as reflected in its annual financial statements set forth in its Annual Report on Form 10-K.

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2017
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 an accumulated deficit of $290.5 $11.3 $3.8 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. As a result of issuing $35.0 million in senior secured convertible notes in June 2016, management believes that its capital resources are adequate to fund operations through the end of 2017. 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, 2017 and 2016; 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 the Company beginning in its fiscal year 2018, and may be applied retrospectively to all prior periods presented or through a cumulative adjustment to the opening retained earnings balance in the year of adoption. The Company intends to adopt this standard on January 1, 2018 and does not anticipate that this guidance will materially impact its consolidated financial statements. In February 2016, the FASB issued ASU No. 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 intends to adopt this standard on January 1, 2019 and is currently evaluating the impact it may have on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230). The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The ASU is effective for public companies for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including interim periods within those fiscal years. An entity that elects early adoption must adopt all of the amendments in the same period. The guidance requires application using a retrospective transition method. The Company is currently evaluating the effects, if any, that the adoption of this guidance will have on the Company’s financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The new guidance requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years, and early adoption is permitted. The Company intends to adopt this standard on January 1, 2018 and is evaluating the effects, if any, that the adoption of this guidance will have on the Company’s financial statements.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consist of the following: (in thousands) March 31, 2017 December 31, 2016 Raw materials $ 289 $ 346 Work-in-process 469 214 Finished goods 115 100 Total inventories $ 873 $ 660

Prepaid Expenses and Other Cu23

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 December 31, 2016 Insurance premiums $ 357 $ 501 Security Deposit 50 50 Other 1 217 147 Total prepaid expenses and other current assets $ 624 $ 698

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
	Mar. 31, 2017
Property Plant And Equipment [Abstract]
Components of property, plant and equipment	Property, plant, and equipment consist of the following: (in thousands) March 31, 2017 December 31, 2016 Buildings and land $ 574 $ 556 Enterprise hardware and software 1,546 1,532 Leaseholds 1,531 1,504 Equipment 837 940 Furniture 179 354 Property, plant and equipment, gross 4,667 4,886 Accumulated depreciation (3,601 ) (3,803 ) Property, plant and equipment, net $ 1,066 $ 1,083

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Payables And Accruals [Abstract]
Schedule of accrued expenses	Accrued expenses consist of the following: (in thousands) March 31, 2017 December 31, 2016 Compensation, excluding taxes $ 418 $ 933 Clinical trial expenses 1,867 1,365 Professional fees 256 286 Short-term portion of lease restructuring 222 216 Other 1 785 607 Total accrued expenses $ 3,548 $ 3,407 1 Other consists of various accrued expenses, with no individual item accounting for more than 5% of current liabilities at March 31, 2017 and December 31, 2016.

Restructuring Expenses (Tables)

Restructuring Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017: (in thousands) Lease Liability Reserve balance at December 31, 2016 $ 820 Charges — Payments/Utilizations (53 ) Reserve balance at March 31, 2017 $ 767

Convertible Notes Payable (Tabl

Convertible Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Summary of Common Stock Shares Issued under Notes	The Company issued shares of Common Stock as installment payments of principal (including certain early repayments at the option of the holders) under the Notes as follows: Number of Shares of Common Stock Applicable Conversion Price Reduction in Principal January 12, 2017 4,113,520 $ 0.36 $ 1,478,318 February 10, 2017 15,358,864 $ 0.20 $ 3,045,817 March 13, 2017 41,054,082 $ 0.11 $ 4,417,830 April 10, 2017 59,171,335 $ 0.06 $ 3,621,286
Summary of Convertible Notes Outstanding	The following table summarizes the convertible notes outstanding at March 31, 2017: (in thousands) Convertible notes payable, principal $ 22,143 Debt discounts (12,853 ) Net convertible note payable $ 9,290

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of fair value of the warrants	The fair value of the Warrants at March 31, 2017 was determined by using option pricing models with the following assumptions: October 2016 Warrants June 2016 Series C Warrants July 2015 Series A Warrants February 2015 Warrants October 2013 Warrants Expected volatility 100.25% 98.67% 96.16% 95.91% 170.88% Risk-free interest rates 1.82% 1.93% 1.61% 1.50% 1.19% Expected life (in years) 4.52 5.21 3.31 2.88 1.58
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, 2017, 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, 2017 Liabilities Derivative instrument liabilities $ — $ — $ 17,513 $ 17,513
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, 2017: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in thousands) Warrant Liability Balance at December 31, 2016 $ 18,751 Total change in the liability included in earnings (1,238 ) Fair value of warrants issued — Fair value of warrants exercised — Balance at March 31, 2017 $ 17,513

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 because their effects would be anti-dilutive: March 31, 2017 2016 Stock options 55,930 47,024 Unvested restricted shares 110,339 36,000 Warrants 7,216,020 648,872 Total 7,382,289 731,896

General - Additional Informatio

General - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Jun. 30, 2016
Class Of Stock [Line Items]
Net loss	$ 11,332,000	$ 1,813,000
Net cash used in operating activities	3,817,000	$ 3,817,000
Accumulated deficit	290,520,000		$ 279,188,000
Senior Secured Convertible Notes [Member]
Class Of Stock [Line Items]
Debt instrument, principal face amount	$ 22,143,000			$ 35,000,000

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 289	$ 346
Work-in-process	469	214
Finished goods	115	100
Total inventories	$ 873	$ 660

Prepaid Expenses and Other Cu32

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Prepaid Expense And Other Assets Current [Abstract]
Insurance premiums	$ 357	$ 501
Security Deposit	50	50
Other	217	147
Total prepaid expenses and other current assets	$ 624	$ 698

Prepaid Expenses and Other Cu33

Prepaid Expenses and Other Current Assets - Additional Information (Details)	Mar. 31, 2017	Dec. 31, 2016
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 Equipmen34

Property, Plant, and Equipment - Components of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 4,667	$ 4,886
Accumulated depreciation	(3,601)	(3,803)
Property, plant and equipment, net	1,066	1,083
Buildings and Land [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	574	556
Enterprise Hardware and Software [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	1,546	1,532
Leaseholds [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	1,531	1,504
Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	837	940
Furniture [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 179	$ 354

Property, Plant, and Equipmen35

Property, Plant, and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Depreciation expense	$ 74	$ 87

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Compensation, excluding taxes	$ 418	$ 933
Clinical trial expenses	1,867	1,365
Professional fees	256	286
Short-term portion of lease restructuring	222	216
Other	785	607
Total accrued expenses	$ 3,548	$ 3,407

Accrued Expenses - Schedule o37

Accrued Expenses - Schedule of Accrued Expenses (Parenthetical) (Details)	Mar. 31, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Maximum percentage of current liabilities accrued (in hundredths)	5.00%	5.00%

Restructuring Expenses - Additi

Restructuring Expenses - Additional Information (Details) $ in Thousands	Aug. 18, 2014USD ($)	May 22, 2014USD ($)	Mar. 31, 2017USD ($)Lease	Dec. 31, 2016USD ($)
Property Subject to Operating Lease [Member]
Restructuring Cost And Reserve [Line Items]
Number of sub leases | Lease			2
Restructuring reserve balance			$ 767	$ 820
Sub-lease 1 [Member] | Facility Closing [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve charges		$ 900
Sub Lease 2 [Member] | Facility Closing [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve charges	$ 700
Other non-current liabilities [Member] | Property Subject to Operating Lease [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance			500
Accrued Expenses [Member] | Property Subject to Operating Lease [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance			$ 300

Restructuring Expenses - Schedu

Restructuring Expenses - Schedule of Restructuring and Related Costs (Details) - Lease Liability [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Restructuring Cost And Reserve [Line Items]
Restructuring reserve balance	$ 820
Payments/Utilizations	(53)
Restructuring reserve balance	$ 767

Convertible Notes Payable - Add

Convertible Notes Payable - Additional Information (Details)

Apr. 10, 2017USD ($)$ / sharesshares

Apr. 02, 2017USD ($)

Mar. 13, 2017USD ($)$ / sharesshares

Mar. 02, 2017USD ($)$ / sharesshares

Feb. 10, 2017USD ($)$ / sharesshares

Feb. 01, 2017USD ($)$ / sharesshares

Jan. 12, 2017USD ($)$ / sharesshares

Jun. 13, 2016

Jun. 06, 2016USD ($)Installment$ / sharesshares

Mar. 31, 2017USD ($)

Mar. 31, 2016USD ($)

Dec. 31, 2016USD ($)

Jun. 30, 2016USD ($)

Debt Instrument [Line Items]

Debt instrument, conversion price | $ / shares

$ 0.11

$ 0.14

$ 0.20

$ 0.32

$ 0.36

Reduction in Principal

$ 4,417,830,000

$ 100,000

$ 3,045,817,000

$ 500,000

$ 1,478,318,000

$ 12,210,000

$ 0

Common Stock Issued [Member]

Debt Instrument [Line Items]

Number of common stock issued | shares

41,054,082

900,000

15,358,864

1,700,000

4,113,520

Subsequent Event [Member]

Debt Instrument [Line Items]

Debt instrument, conversion price | $ / shares

$ 0.06

Reduction in Principal

$ 3,621,286,000

Subsequent Event [Member] | Common Stock Issued [Member]

Debt Instrument [Line Items]

Number of common stock issued | shares

59,171,335

Securities Purchase Agreement [Member] | Warrant Repurchase Agreements [Member] | Subsequent Event [Member]

Debt Instrument [Line Items]

Aggregate amount to be paid in exchange for cancellation of warrants

$ 7,900,000

Senior Secured Convertible Notes [Member]

Debt Instrument [Line Items]

Debt instrument, principal face amount

22,143,000

$ 35,000,000

Debt discount on senior notes

12,853,000

Senior Secured Convertible Notes [Member] | Securities Purchase Agreement [Member]

Debt Instrument [Line Items]

Debt instrument, principal face amount

$ 35,000,000

Debt discount on senior notes

2,800,000

$ 35,000,000

Interest rate upon default

0.00%

Rate of interest in event of default

15.00%

Debt instrument interest rate computation terms

The Notes do not bear any ordinary interest. However, interest shall commence accruing immediately upon the occurrence of, and shall continue accruing during the continuance of, an Event of Default, at 15% per annum and shall be computed on the basis of a 360-day year of twelve 30-day months and shall be payable

Proceeds from issuance of notes available for general corporate purposes

$ 3,000,000

$ 6,600,000

$ 3,000,000

Maturity date of notes

Dec. 29, 2017

Amortization payments number of equal installments | Installment

14

Period after original date of issuance of notes for which amortization payment begins

7 months

Debt instrument, original issuance date

Jun. 13, 2016

Debt instrument, conversion price | $ / shares

$ 4.39

Debt discount amortization

$ 22,100,000

Beneficial conversion feature

4,400,000

Debt instrument, put options issued on default and change in control, value

0

Debt issuance costs

1,000,000

Amortization of debt issuance costs

500,000

Senior Secured Convertible Notes [Member] | Securities Purchase Agreement [Member] | Restricted Cash [Member]

Debt Instrument [Line Items]

Proceeds from issuance of notes and warrants

$ 11,800,000

Series C Warrants [Member] | Securities Purchase Agreement [Member]

Debt Instrument [Line Items]

Additional issuance of common stock purchase price per share. | $ / shares

$ 0.01

Series C Warrants [Member] | Senior Secured Convertible Notes [Member]

Debt Instrument [Line Items]

Debt instrument, principal face amount

$ 35,000,000

Series C Warrants [Member] | Senior Secured Convertible Notes [Member] | Securities Purchase Agreement [Member]

Debt Instrument [Line Items]

Proceeds from issuance of notes and warrants

$ 32,200,000

Debt discount on senior notes

$ 27,800,000

Shares issuable upon warrants exercised | shares

6,800,000

Convertible Notes Payable - Sum

Convertible Notes Payable - Summary of Common Stock Shares Issued under Notes (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 10, 2017	Mar. 13, 2017	Mar. 02, 2017	Feb. 10, 2017	Feb. 01, 2017	Jan. 12, 2017	Mar. 31, 2017	Mar. 31, 2016
Debt Instrument [Line Items]
Applicable Conversion Price		$ 0.11	$ 0.14	$ 0.20	$ 0.32	$ 0.36
Reduction in Principal		$ 4,417,830	$ 100	$ 3,045,817	$ 500	$ 1,478,318	$ 12,210	$ 0
Common Stock Issued [Member]
Debt Instrument [Line Items]
Number of Shares of Common Stock		41,054,082	900,000	15,358,864	1,700,000	4,113,520
Subsequent Event [Member]
Debt Instrument [Line Items]
Applicable Conversion Price	$ 0.06
Reduction in Principal	$ 3,621,286
Subsequent Event [Member] | Common Stock Issued [Member]
Debt Instrument [Line Items]
Number of Shares of Common Stock	59,171,335

Convertible Notes Payable - S42

Convertible Notes Payable - Summary of Convertible Notes Outstanding (Details) - Senior Secured Convertible Notes [Member] - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Debt Instrument [Line Items]
Convertible notes payable, principal	$ 22,143,000	$ 35,000,000
Debt discounts	(12,853,000)
Net convertible note payable	$ 9,290,000

Stockholders' Equity - Reverse

Stockholders' Equity - Reverse Stock Split - Additional Information (Details)	Jul. 21, 2016$ / sharesshares	Jul. 19, 2016shares	Mar. 31, 2017$ / sharesshares	Dec. 31, 2016$ / sharesshares	Jul. 18, 2016shares
Stockholders Equity Note [Line Items]
Reverse stock split ratio	0.0625
Number of fractional shares were issued in connection with the reverse stock split	0
Common stock, par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01	$ 0.01
Common stock, shares authorized (in shares)		500,000,000	500,000,000	500,000,000	170,000,000
Minimum [Member]
Stockholders Equity Note [Line Items]
Reverse stock split ratio		0.1
Maximum [Member]
Stockholders Equity Note [Line Items]
Reverse stock split ratio		0.05

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants - Additional Information (Details) - USD ($)	Apr. 02, 2017	Oct. 31, 2016	Jul. 31, 2015	Feb. 28, 2015	Oct. 31, 2013	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016	Jun. 06, 2016
Class Of Warrant Or Right [Line Items]
Sale of common stock, net of expenses (in shares)		425,000	600,000	153,750	81,875
Proceeds from issuance of private placement		$ 1,200,000		$ 2,600,000	$ 7,500,000
Net proceeds from issuance of private placement		$ 1,100,000		$ 2,500,000	$ 6,900,000
Sale of units to underwriter			600,000
Proceeds of common stock issued, net of related expenses			$ 6,000,000
Subsequent Event [Member] | Warrant Repurchase Agreements [Member] | Securities Purchase Agreement [Member]
Class Of Warrant Or Right [Line Items]
Aggregate amount to be paid in exchange for cancellation of warrants	$ 7,876,312
Senior Secured Convertible Notes [Member]
Class Of Warrant Or Right [Line Items]
Debt instrument, principal face amount						$ 22,143,000		$ 35,000,000
Senior Secured Convertible Notes [Member] | Securities Purchase Agreement [Member]
Class Of Warrant Or Right [Line Items]
Debt instrument, principal face amount									$ 35,000,000
Series A Common Stock Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants exercisable per share price (in dollars per share)						$ 0.14
Number of warrants outstanding (in shares)						300,000
Number of warrants converted			400,000			100,000
Gross proceeds from underwriting offering			$ 7,000,000
Warrants expiry period						5 years
Series B Common Stock Warrants [Member]
Class Of Warrant Or Right [Line Items]
Number of warrants converted			600,000
Warrants exercised (in shares)							100,000
Net proceeds from exercise of warrants							$ 800,000
Remaining outstanding warrants expired							400,000
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			$ 3,400,000
2013 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants issued (in shares)					37,000
Value of warrants issued					$ 1,900,000
Warrants exercisable per share price (in dollars per share)						$ 112.64
Number of warrants outstanding (in shares)						37,000
Term period for warrants						5 years
February 2015 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants issued (in shares)				69,000
Value of warrants issued				$ 800,000
Warrants exercisable per share price (in dollars per share)						$ 0.14
Number of warrants outstanding (in shares)						30,000
Term period for warrants						5 years
Series C Warrants [Member]
Class Of Warrant Or Right [Line Items]
Value of warrants issued								$ 27,800,000
Series C Warrants [Member] | Senior Secured Convertible Notes [Member]
Class Of Warrant Or Right [Line Items]
Number of warrants converted								6,800,000
Debt instrument, principal face amount								$ 35,000,000
October 2016 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants issued (in shares)		148,750
Value of warrants issued		$ 300,000
Warrants exercisable per share price (in dollars per share)						$ 0.14
Number of warrants outstanding (in shares)						100,000
Term period for warrants						5 years

Stockholders' Equity - Stock In

Stockholders' Equity - Stock Incentive Plans - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
	Jul. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option compensation expense		$ 21,000	$ 95,000
Restricted stock compensation expense		27,000	138,000
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option compensation expense		$ 21,000	$ 100,000
Stock options granted		15,000	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		92,250	4,687
Restricted stock compensation expense		$ 27,000	$ 100,000
2004 Stock Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for the issuance (in shares)		11,719
2009 Stock Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for the issuance (in shares)	94,141	200,391
Increased number of shares (in shares)	106,250
Shares available for grant		15,724

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)Input	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
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	$ 1,238	$ 1,672
Derivative warrant liabilities	$ 17,513		$ 18,751

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Warrants (Details)	3 Months Ended
	Mar. 31, 2017
October 2016 Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected volatility (in hundredths)	100.25%
Risk-free interest rates (in hundredths)	1.82%
Expected life (in years)	4 years 6 months 7 days
June 2016 Series C Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected volatility (in hundredths)	98.67%
Risk-free interest rates (in hundredths)	1.93%
Expected life (in years)	5 years 2 months 16 days
July 2015 Series A Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected volatility (in hundredths)	96.16%
Risk-free interest rates (in hundredths)	1.61%
Expected life (in years)	3 years 3 months 22 days
February 2015 Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected volatility (in hundredths)	95.91%
Risk-free interest rates (in hundredths)	1.50%
Expected life (in years)	2 years 10 months 17 days
October 2013 Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Expected volatility (in hundredths)	170.88%
Risk-free interest rates (in hundredths)	1.19%
Expected life (in years)	1 year 6 months 29 days

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Derivative Instruments Liabilities [Member] - Recurring [Member] $ in Thousands	Mar. 31, 2017USD ($)
Liabilities [Abstract]
Total Liabilities	$ 17,513
Level 3 [Member]
Liabilities [Abstract]
Total Liabilities	$ 17,513

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements Using Significant Unobservable Inputs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Roll Forward]
Beginning balance	$ 18,751
Total change in the liability included in earnings	(1,238)
Fair value of warrants issued	0	$ 183
Fair value of warrants exercised	0	$ (245)
Ending balance	$ 17,513

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, 2017	Mar. 31, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	7,382,289	731,896
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)	55,930	47,024
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)	110,339	36,000
Warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	7,216,020	648,872

Subsequent Events (Details)

Subsequent Events (Details) - Warrant Repurchase Agreements [Member] - USD ($)	Apr. 02, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Extinguishment of liability		$ 18,000,000
Securities Purchase Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Aggregate amount to be paid in exchange for cancellation of warrants	$ 7,876,312