Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 08, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | VIVEVE MEDICAL, INC. | |
Entity Central Index Key | 879,682 | |
Trading Symbol | vive | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 31,488,506 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | [1] |
Current assets: | |||
Cash and cash equivalents | $ 30,213 | $ 20,730 | |
Accounts receivable, net of allowance for doubtful accounts of $253 and $221 as of June 30, 2018 and December 31, 2017, respectively | 7,241 | 6,213 | |
Inventory | 4,161 | 2,390 | |
Prepaid expenses and other current assets | 3,024 | 2,741 | |
Total current assets | 44,639 | 32,074 | |
Property and equipment, net | 1,931 | 1,303 | |
Investment in limited liability company | 2,093 | 2,500 | |
Other assets | 188 | 202 | |
Total assets | 48,851 | 36,079 | |
Current liabilities: | |||
Accounts payable | 4,867 | 4,799 | |
Accrued liabilities | 5,258 | 4,605 | |
Total current liabilities | 10,125 | 9,404 | |
Note payable, noncurrent portion | 29,724 | 28,948 | |
Other noncurrent liabilities | 305 | 327 | |
Total liabilities | 40,154 | 38,679 | |
Commitments and contingences (Note 7) | |||
Stockholders’ equity (deficit): | |||
Common stock, $0.0001 par value; 75,000,000 shares authorized as of June 30, 2018 and December 31, 2017; 31,466,508 and 19,503,558 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively | 3 | 2 | |
Additional paid-in capital | 138,283 | 102,979 | |
Accumulated deficit | (129,589) | (105,581) | |
Total stockholders’equity (deficit) | 8,697 | (2,600) | |
Total liabilities and stockholders’ equity (deficit) | $ 48,851 | $ 36,079 | |
[1] | The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date. |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | [1] |
Accounts receivable, allowance for doubtful accounts | $ 253 | $ 221 | |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | |
Common stock, shares authorized (in shares) | 75,000,000 | 75,000,000 | |
Common stock, shares issued (in shares) | 31,466,508 | 19,503,558 | |
Common stock, shares outstanding (in shares) | 31,466,508 | 19,503,558 | |
[1] | The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue | $ 5,525 | $ 3,076 | $ 9,224 | $ 6,117 |
Cost of revenue | 2,711 | 1,837 | 5,063 | 3,456 |
Gross profit | 2,814 | 1,239 | 4,161 | 2,661 |
Operating expenses: | ||||
Research and development | 3,672 | 3,440 | 7,428 | 5,828 |
Selling, general and administrative | 9,437 | 6,862 | 18,368 | 12,312 |
Total operating expenses | 13,109 | 10,302 | 25,796 | 18,140 |
Loss from operations | (10,295) | (9,063) | (21,635) | (15,479) |
Interest expense, net | (1,063) | (1,345) | (2,133) | (1,608) |
Other expense, net | (17) | (10) | (33) | |
Net loss from consolidated companies | (11,358) | (10,425) | (23,778) | (17,120) |
Loss from minority interest in limited liability company | (158) | (407) | ||
Comprehensive and net loss | $ (11,516) | $ (10,425) | $ (24,185) | $ (17,120) |
Net loss per share: | ||||
Basic and diluted (in dollars per share) | $ (0.37) | $ (0.54) | $ (0.85) | $ (1.10) |
Weighted average shares used in computing net loss per common share: | ||||
Basic and diluted (in shares) | 31,305,386 | 19,373,322 | 28,591,134 | 15,539,840 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | ||
Cash flows from operating activities: | |||
Net loss | $ (24,185) | $ (17,120) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Provision for doubtful accounts | 32 | ||
Depreciation and amortization | 334 | 188 | |
Stock-based compensation | 1,529 | 827 | |
Fair value of common stock issued | 256 | 260 | |
Non-cash interest expense | 776 | 489 | |
Loss from minority interest in limited liability company | 407 | ||
Changes in assets and liabilities: | |||
Accounts receivable | (1,060) | (1,709) | |
Inventory | (1,930) | 352 | |
Prepaid expenses and other current assets | (283) | (822) | |
Other noncurrent assets | 14 | 4 | |
Accounts payable | 68 | 258 | |
Accrued and other liabilities | 635 | (5) | |
Other noncurrent liabilities | 173 | (53) | |
Net cash used in operating activities | (23,234) | (17,331) | |
Cash flows from investing activities: | |||
Purchase of property and equipment | (803) | (400) | |
Net cash used in investing activities | (803) | (400) | |
Cash flows from financing activities: | |||
Proceeds from sale of common stock, net of issuance costs | 33,396 | 31,440 | |
Proceeds from note payable | 19,214 | ||
Repayments of note payable | (10,000) | ||
Proceeds from issuance of common shares from employee stock purchase plan | 124 | ||
Proceeds from exercise of stock options | 31 | ||
Proceeds from exercise of warrant | 20 | ||
Net cash provided by financing activities | 33,520 | 40,705 | |
Net increase in cash and cash equivalents | 9,483 | 22,974 | |
Cash and cash equivalents - beginning of period | 20,730 | [1] | 8,086 |
Cash and cash equivalents - end of period | 30,213 | 31,060 | |
Supplemental disclosure: | |||
Cash paid for interest | 1,315 | 1,183 | |
Cash paid for income taxes | 2 | ||
Supplemental disclosure of cash flow information as of end of period: | |||
Issuance of warrants in connection with note payable | 940 | ||
Issuance of note payable in settlement of accrued interest | 616 | ||
Net transfer of equipment between inventory and property and equipment | $ 159 | $ 292 | |
[1] | The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date. |
Note 1 - The Company and Basis
Note 1 - The Company and Basis of Presentation | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. The Company and Basis of Presentation Viveve Medical, Inc. (“Viveve Medical”, the “Company”, “we”, “our”, or “us”) competes in the women’s intimate health industry in some countries by marketing the Viveve System as a way to improve the overall well-being and quality of life of women suffering from vaginal introital laxity, for improved sexual function, or stress urinary incontinence, depending on the relevant country-specific clearance or approval. In the United States, the Viveve System is currently indicated for use in general surgical procedures for electrocoagulation and hemostasis. Public Offerings On February 12, 2018, “February 2018 11,500,000 $3.00 $34,500,000. $32,213,000. The Company established an “at-the-market” equity offering program through the filing of a prospectus supplement to its shelf registration statement on Form S- 3, November 8, 2017, may $25,000,000 “November 2017 three six June 30, 2018, 65,252 273,529 November 2017 $172,000 $1,183,000. June 30, 2018, 332,778 November 2017 $1,308,000. On March 22, 2017, “March 2017 8,625,000 $4.00 $34,500,000. $31,440,000. Interim Unaudited Financial Information The accompanying unaudited condensed consolidated financial statements of Viveve Medical have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10 8 03 X. not The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Annual Report on Form 10 December 31, 2017, March 16, 2018. three six June 30, 2018 not December 31, 2018 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Financial Statement Presentation The condensed consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries, Viveve, Inc. and Viveve BV. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, and expenses and the related disclosure of contingent assets and liabilities. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not may Changes in Accounting Policies Except for the changes for the adoption of the new revenue recognition accounting standard, the Company has consistently applied the accounting policies to all periods presented in these condensed consolidated financial statements. Adoption of New Accounting Standard On January 1, 2018, 606 606 606” not January 1, 2018. January 1, 2018 606, not 605 605” Previously under ASC 605, 606, not $177,000, $195,000 $18,000 The details for the impact of the adoption of ASC 606 Balance as of December 31, 2017 Adjustment Due to Adoption of ASC 606 Balance as of January 1, 2018 Consolidated Balance Sheet: Liabilities Accrued liabilities $ 4,605 $ 18 (1) $ 4,623 Other noncurrent liabilities $ 327 $ (195 ) (2) $ 132 Equity Accumulated deficit $ (105,581 ) $ 177 (3) $ (105,404 ) ( 1 Change relates to future costs associated with extended warranties required to be recorded on adoption of ASC 606. ( 2 Change relates to long-term deferred revenue related to the extended warranties not 606. ( 3 Change relates to cumulative effect adjustment upon adoption of ASC 606. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three one may, Concentration of Credit Risk and Other Risks and Uncertainties To achieve profitable operations, the Company must successfully develop, manufacture, and market its products. There can be no The Company’s products to date require clearance or approvals from the U.S. Food and Drug Administration (“FDA”) or other international regulatory agencies prior to commencing commercial sales. There can be no The Company is subject to risks common to companies in the medical device industry including, but not The Company designs, develops, manufactures and markets a medical device that it refers to as the Viveve System, which is intended for the non-invasive treatment of vaginal introital laxity, for improved sexual function, for vaginal rejuvenation, for use in general surgical procedures for electrocoagulation and hemostasis, and stress urinary incontinence, depending on the relevant country-specific clearance or approval. The Viveve System consists of three four five third In North America, the Company sells its products primarily through a direct sales force to health care practitioners. Outside North America, the Company sells through an extensive network of distribution partners. During the three June 30, 2018, one 13% three June 30, 2017, three 37% six June 30, 2018, one 23% six June 30, 2017, two 26% There were no 10% three six June 30, 2018 2017. As of June 30, 2018, two 49% December 31, 2017, two 57% Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and are not six may six not $253,000 June 30, 2018 $221,000 December 31, 2017. Revenue Recognition Revenue consists primarily of the sale of the Viveve System, single-use treatment tips and ancillary consumables. The Company applies the following five 1 2 3 4 5 Sales of our products are subject to regulatory requirements that vary from country to country. The Company has regulatory clearance for differing indications, or can sell its products without a clearance, in many countries throughout the world, including countries within the following regions: North America, Latin America, Europe, the Middle East and Asia Pacific. In North America, we market and sell primarily through a direct sales force. Outside of North America, we market and sell primarily through distribution partners. The Company does not Customer Advance Payments From time to time, customers will pay for a portion of the products ordered in advance. Upon receipt of such payments, the Company records the customer advance payment as a component of accrued liabilities. The Company will remove the customer advance payment from accrued liabilities when revenue is recognized upon shipment of the products. Contract Assets and Liabilities The Company continually evaluates whether the revenue generating activities and advanced payment arrangements with customers result in the recognition of contract assets or liabilities. No June 30, 2018 December 31, 2017. $182,000 not June 30, 2018. No December 31, 2017. Significant Financing Component The Company applies the practical expedient to not not one three six June 30, 2018, not Contract Costs The Company has elected the practical expedient to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is one three six June 30, 2018, one Shipping and Handling Shipping costs billed to customers are recorded as revenue. Shipping and handling expense related to costs incurred to deliver product are recognized within cost of goods sold. The Company accounts for shipping and handling activities that occur after control has transferred as a fulfillment cost as opposed to a separate performance obligation, and the costs of shipping and handling are recognized concurrently with the related revenue. In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated statement of operations for the three six June 30, 2018 June 30, 2018 For three months ended June 30, 2018 For six months ended June 30, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change As Reported Balances Without Adoption of ASC 606 Effect of Change Consolidated Statement of Operations Revenue $ 5,525 $ 5,405 $ 120 (1) $ 9,224 $ 8,894 $ 330 (1) Cost of revenue $ 2,711 $ 2,705 $ 6 (2) $ 5,063 $ 5,048 $ 15 (2) Gross profit $ 2,814 $ 2,700 $ 114 (3) $ 4,161 $ 3,846 $ 315 (3) Loss from operations $ (10,295 ) $ (10,409 ) $ 114 (3) $ (21,635 ) $ (21,950 ) $ 315 (3) Comprehensive and net loss $ (11,516 ) $ (11,630 ) $ 114 (3) $ (24,185 ) $ (24,500 ) $ 315 (3) Net loss per share: Basic and diluted $ (0.37 ) $ (0.37 ) $ - $ (0.85 ) $ (0.86 ) $ 0.01 ( 1 Change relates to revenue from extended assurance warranties for which no 606. ( 2 Change relates to the future costs associated with extended assurance warranties required to be recorded on the adoption of ASC 606. ( 3 Change relates to the net gain adjustment on the adoption of ASC 606. As of June 30, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Consolidated Balance Sheets Liabilities Accrued liabilities $ 5,258 $ 5,302 $ 44 (1) Other noncurrent liabilities $ 305 $ 753 $ 448 (2) Equity Accumulated deficit $ (129,589 ) $ (130,081 ) $ (492 ) (3) ( 1 Change relates to future costs associated with extended warranties required to be recorded on the adoption of ASC 606, not 606. ( 2 Change relates to noncurrent portion of deferred revenue in connection with the extended warranties not 606. ( 3 Change relates to $177,000 606 $315,000 six June 30, 2018. Revenue by Geographic Area: Management has determined that the sales by geography is a key indicator for understanding the Company’s financials because of the different sales and business models that are required in the various regions of the world (including regulatory, selling channels, pricing, customers and marketing efforts). The following table presents the revenue from unaffiliated customers disaggregated by geographic area for the three six June 30, 2018 ( Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 United States $ 4,552 $ 1,895 $ 7,158 $ 3,791 Asia Pacific 630 690 1,521 1,433 Europe and Middle East 329 456 531 568 Latin America 14 35 14 325 Total $ 5,525 $ 3,076 $ 9,224 $ 6,117 The Company determines geographic location of its revenue based upon the destination of the shipments of its products. Investments in Unconsolidated Affiliates The Company uses the equity method to account for its investments in entities that it does not 1 2 3 three not The Company assesses the potential impairment of the equity method investments when indicators such as a history of operating losses, a negative earnings and cash flow outlook, and the financial condition and prospects for the investee’s business segment might indicate a loss in value. The carrying value of the investments are reviewed annually for changes in circumstances or the occurrence of events that suggest the investment may not No three six June 30, 2018. Product Warranty The Company’s products are generally subject to warranties between one three not Accounting for Stock-Based Compensation Share-based compensation cost is measured at grant date, based on the fair value of the award, and is recognized as expense over the employee’s service period. The Company recognizes compensation expense on a straight-line basis over the requisite service period of the award. We determined that the Black-Scholes option pricing model is the most appropriate method for determining the estimated fair value for stock options and purchase rights under the employee stock purchase plan. The Black-Scholes option pricing model requires the use of highly subjective and complex assumptions which determine the fair value of share-based awards, including the option’s expected term and the price volatility of the underlying stock. Equity instruments issued to nonemployees are recorded at their fair value on the measurement date and are subject to periodic adjustment as the underlying equity instruments vest. Comprehensive Loss Comprehensive loss represents the changes in equity of an enterprise, other than those resulting from stockholder transactions. Accordingly, comprehensive loss may three six June 30, 2018 2017, Net Loss per Share The Company’s basic net loss per share is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period. The diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents outstanding during the period. For purposes of this calculation, stock options and warrants to purchase common stock and restricted common stock awards are considered common stock equivalents. For periods in which the Company has reported net losses, diluted net loss per share is the same as basic net loss per share, since dilutive common shares are not The following securities were excluded from the calculation of net loss per share because the inclusion would be anti-dilutive. Six Months Ended June 30, 2018 2017 Stock options to purchase common stock 4,209,355 2,287,572 Warrants to purchase common stock 642,622 642,622 Restricted common stock awards 66,250 6,250 Reclassification of Prior Year Presentation Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no six June 30, 2018. $53,000 six June 30, 2017. Recently Issued and Adopted Accounting Standards In February 2016, 2016 02, 842 December 15, 2018, In August 2016, No. 2016 15, 230 zero December 15, 2017, January 1, 2018 not In August 2016, No. 2016 18, 230 December 15, 2017, January 1, 2018 not In May 2017, No. 2017 09, 718 may 718. December 15, 2017, January 1, 2018 not In June 2018, 2016 07, 718 718 718 December 15, 2018, We have reviewed other recent accounting pronouncements and concluded they are either not no |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 3. Fair Value Measurements The Company recognizes and discloses the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 3 Level 1 Inputs used to measure fair value are unadjusted quoted prices that are available in active markets for the identical assets or liabilities as of the reporting date. Therefore, determining fair value for Level 1 not not Level 2 Pricing is provided by third not Level 3 Inputs used to measure fair value are unobservable inputs that are supported by little or no 3 Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. There were no June 30, 2018 December 31, 2017. The carrying amounts of the Company’s financial assets and liabilities, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses as of June 30, 2018, December 31, 2017 There were no |
Note 4 - Investment in Limited
Note 4 - Investment in Limited Liability Company | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 4. Investment in Limited Liability Company On August 8, 2017, Under the terms of the Distributorship Agreement, ICM agreed to not third not June 30, 2018, 2,700 $63,000 $143,000 three six June 30, 2018, In connection with the Distributorship Agreement, the Company also entered into a Membership Unit Subscription Agreement with ICM and the associated limited liability company operating agreement of ICM, pursuant to which the Company invested $2,500,000 not June 30, 2018, 11% three three six June 30, 2018, $158,000 $407,000, |
Note 5 - Accrued Liabilities
Note 5 - Accrued Liabilities | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 5. Accrued Liabilities Accrued liabilities consisted of the following as of June 30, 2018 December 31, 2017 ( June 30, December 31, 2018 2017 Accrued sales commission $ 1,550 $ 1,067 Accrued professional fees 762 562 Accrued interest 662 447 Accrued bonuses 613 1,597 Accrued payroll and other related expenses 521 488 Travel and entertainment 272 156 Customer contracts liabilities 182 - Accrued sales & use tax 161 149 Other accruals 535 139 Total accrued liabilities $ 5,258 $ 4,605 |
Note 6 - Note Payable
Note 6 - Note Payable | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. Note Payable On June 20, 2016, January 13, 2017 ( “2016 $10,000,000 two $7,500,000 $2,500,000. $10,000,000 June 20, 2016. 2016 4.00% 2016 May 2017. In connection with the 2016 10 100,402 $4.98 8 On May 22, 2017, “2017 $20,000,000 $10,000,000 $30,000,000 December 29, 2017, $10,000,000 A portion of the initial loan proceeds were used to repay all of the amounts owed by the Company under its 2016 2017 may The 2017 six four 2017 12.5%, 4.0% may, three six June 30, 2018, $311,000 $616,000, June 30, 2018. three six June 30, 2017, $80,000 . 5.0% June 30, 2018, $305,000 The Company may 2017 first five no As security for its obligations under the 2017 The terms of the 2017 $2.0 2022, not 2.0 2017 June 30, 2018, In connection with the 2017 two 10 222,049 $9.50 8 As of June 30, 2018, Year Ending December 31, 2018 (remaining six months) $ 1,359 2019 2,778 2020 2,901 2021 16,672 2022 19,306 Thereafter 6,221 Total payments 49,237 Less: Amount representing interest (18,125 ) Present value of obligations 31,112 Less: Unamortized debt discount (1,388 ) Note payable, noncurrent portion $ 29,724 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 7. Commitments and Contingencies Operating Lease In January 2012, March 2012 April 2018. On February 1, 2017, 12,400 January 26, 2017. June 1, 2017 May 2020. June 2017. The monthly base rent under the Sublease is equal to $20.50 first $21.12 $21.75 second third $22,000. $88,000 Rent expense for the three June 30, 2018 2017 $90,000 $94,000, six June 30, 2018 2017 $228,000 $167,000, As of June 30, 2018, Year Ending December 31, 2018 (remaining six months) $ 130 2019 264 2020 112 Total minimum lease payments $ 506 Indemnification Agreements The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with performance of services within the scope of the agreement, breach of the agreement by the Company, or noncompliance of regulations or laws by the Company, in all cases provided the indemnified party has not not not Loss Contingencies The Company is or has been subject to proceedings, lawsuits and other claims arising in the ordinary course of business. The Company evaluates contingent liabilities, including threatened or pending litigation, for potential losses. If the potential loss from any claim or legal proceeding is considered probable and the amount can be estimated, the Company accrues a liability for the estimated loss. Because of uncertainties related to these matters, accruals are based upon the best information available. For potential losses for which there is a reasonable possibility (meaning the likelihood is more than remote but less than probable) that a loss exists, the Company will disclose an estimate of the potential loss or range of such potential loss or include a statement that an estimate of the potential loss cannot be made. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation and may not Legal Proceedings On March 11, 2016, On June 4, 2018, Under the terms of the Settlement Agreement, the Company received an initial monetary payment to settle the litigation and past claims and an on-going royalty for future sales. Viveve granted to ThermiGen a non-exclusive, non-transferable license to use the Company’s U.S. patent for the current version of ThermiGen’s ThermiVa system (which includes RF generators and consumables). The Company has recorded the monetary payment as a gain on litigation settlement in selling, general and administrative expenses on the condensed consolidated statements of operations during the three six June 30, 2018. |
Note 8 - Common Stock
Note 8 - Common Stock | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. Common Stock On June 8, 2018, 100,000 $2.56 $256,000. On February 12, 2018, February 2018 11,500,000 $3.00 $34,500,000. $32,213,000. Through the November 2017 may $25,000,000 three six June 30, 2018, 65,252 273,529 November 2017 $172,000 $1,183,000. June 30, 2018, 332,778 November 2017 $1,308,000. Warrants for Common Stock As of June 30, 2018, Number of Shares Outstanding Exercisable Expiration Exercise Under Issuance Date for Date Price Warrants September 2014 Common Shares September 23, 2019 $ 4.24 86,831 October 2014 Common Shares October 13, 2019 $ 4.24 29,000 November 2014 Common Shares November 12, 2019 $ 4.24 12,500 February 2015 Common Shares February 17, 2025 $ 4.00 75,697 March 2015 Common Shares March 26, 2025 $ 2.72 1,454 May 2015 Common Shares May 12, 2025 $ 4.24 36,229 May 2015 Common Shares May 17, 2020 $ 4.24 21,585 December 2015 Common Shares December 16, 2025 $ 5.60 26,875 April 2016 Common Shares April 1, 2026 $ 6.08 25,000 May 2016 Common Shares May 11, 2021 $ 7.74 5,000 June 2016 Common Shares June 20, 2026 $ 4.98 100,402 May 2017 Common Shares May 25, 2027 $ 9.50 222,049 642,622 In connection with the 2016 100,402 $4.98 $350,000. $90,000, May 2017 2017 June 30, 2017. three six June 30, 2017, $336,000 $371,000 In connection with the 2017 222,049, $9.50 ten $940,000 0%, 55.1%, 2.25% ten $786,000, three six June 30, 2018, $83,000 $160,000, three six June 30, 2017, $38,000 June 30, 2018, $1,388,000. No three six June 30, 2018 2017. No three six June 30, 2018 2017. The stock-based compensation expense related to warrants issued was zero three six June 30, 2018 2017. |
Note 9 - Summary of Stock Optio
Note 9 - Summary of Stock Options | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 9. Summary of Stock Options Stock Option Plans The Company has issued equity awards in the form of stock options and restricted stock awards (“RSAs”) from two 2006 “2006 2013 “2013 As of June 30, 2018, 2006 38,378 no $10.49 4.4 On December 6, 2017, 2018 2013 914,016 4,000,000 4,914,016 January 1, 2018. As of June 30, 2018, 2013 4,170,977 486,103 $4.71 8.8 Activity under the 2006 2013 Six Months Ended June 30, 2018 Weighted Weighted Average Number Average Remaining Aggregate of Exercise Contractual Intrinsic Shares Price Term (years) Value Options outstanding, beginning of period 2,694,224 $ 5.80 8.6 $ 249,154 Options granted 2,023,559 $ 3.60 Options exercised - $ - Options canceled (508,428 ) $ 5.66 Options outstanding, end of period 4,209,355 $ 4.76 8.8 $ 433,626 Vested and exercisable and expected to vest, end of period 3,935,007 $ 4.80 8.7 $ 392,290 Vested and exercisable, end of period 1,124,400 $ 5.65 7.5 $ 10,167 The aggregate intrinsic value reflects the difference between the exercise price of the underlying stock options and the Company’s closing share price as of June 30, 2018. The options outstanding and exercisable as of June 30, 2018 Options Outstanding Options Exercisable Weighted Number Weighted Average Number Weighted Outstanding Average Remaining Exercisable Average Range of as of Exercise Contractual as of Exercise Exercise Prices June 30, 2018 Price Term (Years) June 30, 2018 Price $1.75 - $1.97 552,500 $ 1.94 9.9 12,500 $ 1.97 $2.64 - $2.72 82,500 $ 2.67 9.5 9,896 $ 2.64 $3.11 - $3.82 319,376 $ 3.63 9.2 55,730 $ 3.76 $4.30 - $4.97 1,477,533 $ 4.52 9.0 336,424 $ 4.65 $5.01 - $5.67 822,652 $ 5.34 8.7 195,456 $ 5.22 $6.00 - $6.61 567,878 $ 6.05 7.6 326,724 $ 6.00 $7.00 - $7.92 348,538 $ 7.65 8.2 149,292 $ 7.68 $9.92 38,135 $ 9.92 4.4 38,135 $ 9.92 $59.60 - $149.04 243 $ 100.46 2.5 243 $ 100.46 4,209,355 $ 4.76 8.8 1,124,400 $ 5.65 Stock Option Modifications On May 30, 2018, December 31, 2018. May 30, 2018, six three one $97,000 Restricted Stock Awards In June 2018, 50,000 $3.58 two June 30, 2018, zero In April 2018, 14,672 2013 $3.44 14,672 In January 2018, 9,637 2013 $5.19 9,637 In January 2018, 25,000 $5.19 one June 30, 2018, 18,750 As of June 30, 2018, 66,250 2017 The second 2017 “2017 January 1, 2018 March 31, 2018, 20,744 March 29, 2018 $3.11. third 2017 “2017 April 1, 2018 June 30, 2018, 25,618 June 29, 2018 $2.31. As of June 30, 2018, 2017 335,744 The Company estimates the fair value of purchase rights under the ESPP using a Black-Scholes valuation model. The fair value of each purchase right was estimated on the date of grant using the Black-Scholes option valuation model and the straight-line attribution approach with the following weighted-average assumptions: Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 Expected term (in years) 0.25 0.25 Average volatility 74% 67% Risk-free interest rate 1.73% 1.58% Dividend yield 0% 0% The weighted average grant date fair value of the purchase rights issued under the 2017 three six June 30, 2018 $0.95 $1.11, Stock-Based Compensation During the three June 30, 2018 2017, 570,000 185,250 $1.34 $3.31 six June 30, 2018 2017, 1,821,171 415,110 $2.32 $2.56 no three six June 30, 2018. 7,730 three six June 30, 2017. six June 30, 2017 $30,785, The Company estimated the fair value of stock options using the Black-Scholes option pricing model. The fair value of employee stock options is being amortized on a straight-line basis over the requisite service period of the awards. The fair value of employee stock options granted was estimated using the following weighted average assumptions: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Expected term (in years) 5 5 5 5 Average volatility 69% 48% 75% 48% Risk-free interest rate 2.82% 1.76% 2.63% 1.90% Dividend yield 0% 0% 0% 0% During the three six June 30, 2018, 200,000 202,388 $1.59 $1.61 three six June 30, 2017, 5,875 $5.11. no three six June 30, 2018 2017. The fair value of nonemployee stock options granted was estimated using the following weighted average assumptions: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Expected term (in years) 10 10 10 10 Average volatility 91% 55% 91% 55% Risk-free interest rate 2.85% 2.00% 2.85% 2.29% Dividend yield 0% 0% 0% 0% Option-pricing models require the input of various subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. The expected stock price volatility is based on analysis of the Company’s stock price history over a period commensurate with the expected term of the options, trading volume of comparable companies’ stock, look-back volatilities and the Company specific events that affected volatility in a prior period. The expected term of employee stock options represents the weighted average period the stock options are expected to remain outstanding and is based on the history of exercises and cancellations on all past option grants made by the Company, the contractual term, the vesting period and the expected remaining term of the outstanding options. The risk-free interest rate is based on the U.S. Treasury interest rates whose term is consistent with the expected life of the stock options. No not not The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three six June 30, 2018 2017 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Cost of revenue $ 17 $ 4 $ 28 $ 7 Research and development 65 57 187 108 Selling, general and administrative 694 394 1,314 712 Total $ 776 $ 455 $ 1,529 $ 827 As of June 30, 2018, $6,341,000. 3.0 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 10. Income Taxes No no For interim periods, the Company estimates its annual effective income tax rate and applies the estimated rate to the year-to-date income or loss before income taxes. The Company also computes the tax provision or benefit related to items reported separately and recognizes the items net of their related tax effect in the interim periods in which they occur. The Company also recognizes the effect of changes in enacted tax laws or rates in the interim periods in which the changes occur. The Company’s effective tax rate is 0% three six June 30, 2018 2017. 2018 0%. On December 22, 2017, 21%, January 1, 2018. |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 11. Related Party Transactions In June 2006, October 4, 2007. 300 June 30, 2018, 709 37,500 $2,325,000 $1,681,000 three June 30, 2018 2017, $5,598,000 $3,706,000 six June 30, 2018 2017, June 30, 2018 December 31, 2017 $1,258,000 $1,380,000, In connection with the Distributorship Agreement entered into with ICM in August 2017, $2,500,000 June 30, 2018, 2,700 $63,000 $143,000 three six June 30, 2018, June 30, 2018 December 31, 2017 $22,000 $28,000, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Financial Statement Presentation The condensed consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries, Viveve, Inc. and Viveve BV. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, and expenses and the related disclosure of contingent assets and liabilities. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not may |
Changes in Accounting Policies, Policy [Policy Text Block] | Changes in Accounting Policies Except for the changes for the adoption of the new revenue recognition accounting standard, the Company has consistently applied the accounting policies to all periods presented in these condensed consolidated financial statements. Adoption of New Accounting Standard On January 1, 2018, 606 606 606” not January 1, 2018. January 1, 2018 606, not 605 605” Previously under ASC 605, 606, not $177,000, $195,000 $18,000 The details for the impact of the adoption of ASC 606 Balance as of December 31, 2017 Adjustment Due to Adoption of ASC 606 Balance as of January 1, 2018 Consolidated Balance Sheet: Liabilities Accrued liabilities $ 4,605 $ 18 (1) $ 4,623 Other noncurrent liabilities $ 327 $ (195 ) (2) $ 132 Equity Accumulated deficit $ (105,581 ) $ 177 (3) $ (105,404 ) ( 1 Change relates to future costs associated with extended warranties required to be recorded on adoption of ASC 606. ( 2 Change relates to long-term deferred revenue related to the extended warranties not 606. ( 3 Change relates to cumulative effect adjustment upon adoption of ASC 606. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three one may, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk and Other Risks and Uncertainties To achieve profitable operations, the Company must successfully develop, manufacture, and market its products. There can be no The Company’s products to date require clearance or approvals from the U.S. Food and Drug Administration (“FDA”) or other international regulatory agencies prior to commencing commercial sales. There can be no The Company is subject to risks common to companies in the medical device industry including, but not The Company designs, develops, manufactures and markets a medical device that it refers to as the Viveve System, which is intended for the non-invasive treatment of vaginal introital laxity, for improved sexual function, for vaginal rejuvenation, for use in general surgical procedures for electrocoagulation and hemostasis, and stress urinary incontinence, depending on the relevant country-specific clearance or approval. The Viveve System consists of three four five third In North America, the Company sells its products primarily through a direct sales force to health care practitioners. Outside North America, the Company sells through an extensive network of distribution partners. During the three June 30, 2018, one 13% three June 30, 2017, three 37% six June 30, 2018, one 23% six June 30, 2017, two 26% There were no 10% three six June 30, 2018 2017. As of June 30, 2018, two 49% December 31, 2017, two 57% |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and are not six may six not $253,000 June 30, 2018 $221,000 December 31, 2017. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Revenue consists primarily of the sale of the Viveve System, single-use treatment tips and ancillary consumables. The Company applies the following five 1 2 3 4 5 Sales of our products are subject to regulatory requirements that vary from country to country. The Company has regulatory clearance for differing indications, or can sell its products without a clearance, in many countries throughout the world, including countries within the following regions: North America, Latin America, Europe, the Middle East and Asia Pacific. In North America, we market and sell primarily through a direct sales force. Outside of North America, we market and sell primarily through distribution partners. The Company does not Customer Advance Payments From time to time, customers will pay for a portion of the products ordered in advance. Upon receipt of such payments, the Company records the customer advance payment as a component of accrued liabilities. The Company will remove the customer advance payment from accrued liabilities when revenue is recognized upon shipment of the products. Contract Assets and Liabilities The Company continually evaluates whether the revenue generating activities and advanced payment arrangements with customers result in the recognition of contract assets or liabilities. No June 30, 2018 December 31, 2017. $182,000 not June 30, 2018. No December 31, 2017. Significant Financing Component The Company applies the practical expedient to not not one three six June 30, 2018, not Contract Costs The Company has elected the practical expedient to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is one three six June 30, 2018, one Shipping and Handling Shipping costs billed to customers are recorded as revenue. Shipping and handling expense related to costs incurred to deliver product are recognized within cost of goods sold. The Company accounts for shipping and handling activities that occur after control has transferred as a fulfillment cost as opposed to a separate performance obligation, and the costs of shipping and handling are recognized concurrently with the related revenue. In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated statement of operations for the three six June 30, 2018 June 30, 2018 For three months ended June 30, 2018 For six months ended June 30, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change As Reported Balances Without Adoption of ASC 606 Effect of Change Consolidated Statement of Operations Revenue $ 5,525 $ 5,405 $ 120 (1) $ 9,224 $ 8,894 $ 330 (1) Cost of revenue $ 2,711 $ 2,705 $ 6 (2) $ 5,063 $ 5,048 $ 15 (2) Gross profit $ 2,814 $ 2,700 $ 114 (3) $ 4,161 $ 3,846 $ 315 (3) Loss from operations $ (10,295 ) $ (10,409 ) $ 114 (3) $ (21,635 ) $ (21,950 ) $ 315 (3) Comprehensive and net loss $ (11,516 ) $ (11,630 ) $ 114 (3) $ (24,185 ) $ (24,500 ) $ 315 (3) Net loss per share: Basic and diluted $ (0.37 ) $ (0.37 ) $ - $ (0.85 ) $ (0.86 ) $ 0.01 ( 1 Change relates to revenue from extended assurance warranties for which no 606. ( 2 Change relates to the future costs associated with extended assurance warranties required to be recorded on the adoption of ASC 606. ( 3 Change relates to the net gain adjustment on the adoption of ASC 606. As of June 30, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Consolidated Balance Sheets Liabilities Accrued liabilities $ 5,258 $ 5,302 $ 44 (1) Other noncurrent liabilities $ 305 $ 753 $ 448 (2) Equity Accumulated deficit $ (129,589 ) $ (130,081 ) $ (492 ) (3) ( 1 Change relates to future costs associated with extended warranties required to be recorded on the adoption of ASC 606, not 606. ( 2 Change relates to noncurrent portion of deferred revenue in connection with the extended warranties not 606. ( 3 Change relates to $177,000 606 $315,000 six June 30, 2018. Revenue by Geographic Area: Management has determined that the sales by geography is a key indicator for understanding the Company’s financials because of the different sales and business models that are required in the various regions of the world (including regulatory, selling channels, pricing, customers and marketing efforts). The following table presents the revenue from unaffiliated customers disaggregated by geographic area for the three six June 30, 2018 ( Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 United States $ 4,552 $ 1,895 $ 7,158 $ 3,791 Asia Pacific 630 690 1,521 1,433 Europe and Middle East 329 456 531 568 Latin America 14 35 14 325 Total $ 5,525 $ 3,076 $ 9,224 $ 6,117 The Company determines geographic location of its revenue based upon the destination of the shipments of its products. |
Equity Method Investments [Policy Text Block] | Investments in Unconsolidated Affiliates The Company uses the equity method to account for its investments in entities that it does not 1 2 3 three not The Company assesses the potential impairment of the equity method investments when indicators such as a history of operating losses, a negative earnings and cash flow outlook, and the financial condition and prospects for the investee’s business segment might indicate a loss in value. The carrying value of the investments are reviewed annually for changes in circumstances or the occurrence of events that suggest the investment may not No three six June 30, 2018. |
Standard Product Warranty, Policy [Policy Text Block] | Product Warranty The Company’s products are generally subject to warranties between one three not |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Accounting for Stock-Based Compensation Share-based compensation cost is measured at grant date, based on the fair value of the award, and is recognized as expense over the employee’s service period. The Company recognizes compensation expense on a straight-line basis over the requisite service period of the award. We determined that the Black-Scholes option pricing model is the most appropriate method for determining the estimated fair value for stock options and purchase rights under the employee stock purchase plan. The Black-Scholes option pricing model requires the use of highly subjective and complex assumptions which determine the fair value of share-based awards, including the option’s expected term and the price volatility of the underlying stock. Equity instruments issued to nonemployees are recorded at their fair value on the measurement date and are subject to periodic adjustment as the underlying equity instruments vest. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Loss Comprehensive loss represents the changes in equity of an enterprise, other than those resulting from stockholder transactions. Accordingly, comprehensive loss may three six June 30, 2018 2017, |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Share The Company’s basic net loss per share is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period. The diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents outstanding during the period. For purposes of this calculation, stock options and warrants to purchase common stock and restricted common stock awards are considered common stock equivalents. For periods in which the Company has reported net losses, diluted net loss per share is the same as basic net loss per share, since dilutive common shares are not The following securities were excluded from the calculation of net loss per share because the inclusion would be anti-dilutive. Six Months Ended June 30, 2018 2017 Stock options to purchase common stock 4,209,355 2,287,572 Warrants to purchase common stock 642,622 642,622 Restricted common stock awards 66,250 6,250 |
Reclassification, Policy [Policy Text Block] | Reclassification of Prior Year Presentation Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no six June 30, 2018. $53,000 six June 30, 2017. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued and Adopted Accounting Standards In February 2016, 2016 02, 842 December 15, 2018, In August 2016, No. 2016 15, 230 zero December 15, 2017, January 1, 2018 not In August 2016, No. 2016 18, 230 December 15, 2017, January 1, 2018 not In May 2017, No. 2017 09, 718 may 718. December 15, 2017, January 1, 2018 not In June 2018, 2016 07, 718 718 718 December 15, 2018, We have reviewed other recent accounting pronouncements and concluded they are either not no |
Note 2 - Summary of Significa18
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Cumulative Effect of Adjustments for New Accounting Pronouncements on Balance Sheet [Table Text Block] | Balance as of December 31, 2017 Adjustment Due to Adoption of ASC 606 Balance as of January 1, 2018 Consolidated Balance Sheet: Liabilities Accrued liabilities $ 4,605 $ 18 (1) $ 4,623 Other noncurrent liabilities $ 327 $ (195 ) (2) $ 132 Equity Accumulated deficit $ (105,581 ) $ 177 (3) $ (105,404 ) |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | For three months ended June 30, 2018 For six months ended June 30, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change As Reported Balances Without Adoption of ASC 606 Effect of Change Consolidated Statement of Operations Revenue $ 5,525 $ 5,405 $ 120 (1) $ 9,224 $ 8,894 $ 330 (1) Cost of revenue $ 2,711 $ 2,705 $ 6 (2) $ 5,063 $ 5,048 $ 15 (2) Gross profit $ 2,814 $ 2,700 $ 114 (3) $ 4,161 $ 3,846 $ 315 (3) Loss from operations $ (10,295 ) $ (10,409 ) $ 114 (3) $ (21,635 ) $ (21,950 ) $ 315 (3) Comprehensive and net loss $ (11,516 ) $ (11,630 ) $ 114 (3) $ (24,185 ) $ (24,500 ) $ 315 (3) Net loss per share: Basic and diluted $ (0.37 ) $ (0.37 ) $ - $ (0.85 ) $ (0.86 ) $ 0.01 As of June 30, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Consolidated Balance Sheets Liabilities Accrued liabilities $ 5,258 $ 5,302 $ 44 (1) Other noncurrent liabilities $ 305 $ 753 $ 448 (2) Equity Accumulated deficit $ (129,589 ) $ (130,081 ) $ (492 ) (3) |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 United States $ 4,552 $ 1,895 $ 7,158 $ 3,791 Asia Pacific 630 690 1,521 1,433 Europe and Middle East 329 456 531 568 Latin America 14 35 14 325 Total $ 5,525 $ 3,076 $ 9,224 $ 6,117 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Six Months Ended June 30, 2018 2017 Stock options to purchase common stock 4,209,355 2,287,572 Warrants to purchase common stock 642,622 642,622 Restricted common stock awards 66,250 6,250 |
Note 5 - Accrued Liabilities (T
Note 5 - Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, 2018 2017 Accrued sales commission $ 1,550 $ 1,067 Accrued professional fees 762 562 Accrued interest 662 447 Accrued bonuses 613 1,597 Accrued payroll and other related expenses 521 488 Travel and entertainment 272 156 Customer contracts liabilities 182 - Accrued sales & use tax 161 149 Other accruals 535 139 Total accrued liabilities $ 5,258 $ 4,605 |
Note 6 - Note Payable (Tables)
Note 6 - Note Payable (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Year Ending December 31, 2018 (remaining six months) $ 1,359 2019 2,778 2020 2,901 2021 16,672 2022 19,306 Thereafter 6,221 Total payments 49,237 Less: Amount representing interest (18,125 ) Present value of obligations 31,112 Less: Unamortized debt discount (1,388 ) Note payable, noncurrent portion $ 29,724 |
Note 7 - Commitments and Cont21
Note 7 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31, 2018 (remaining six months) $ 130 2019 264 2020 112 Total minimum lease payments $ 506 |
Note 8 - Common Stock (Tables)
Note 8 - Common Stock (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Outstanding Exercisable Expiration Exercise Under Issuance Date for Date Price Warrants September 2014 Common Shares September 23, 2019 $ 4.24 86,831 October 2014 Common Shares October 13, 2019 $ 4.24 29,000 November 2014 Common Shares November 12, 2019 $ 4.24 12,500 February 2015 Common Shares February 17, 2025 $ 4.00 75,697 March 2015 Common Shares March 26, 2025 $ 2.72 1,454 May 2015 Common Shares May 12, 2025 $ 4.24 36,229 May 2015 Common Shares May 17, 2020 $ 4.24 21,585 December 2015 Common Shares December 16, 2025 $ 5.60 26,875 April 2016 Common Shares April 1, 2026 $ 6.08 25,000 May 2016 Common Shares May 11, 2021 $ 7.74 5,000 June 2016 Common Shares June 20, 2026 $ 4.98 100,402 May 2017 Common Shares May 25, 2027 $ 9.50 222,049 642,622 |
Note 9 - Summary of Stock Opt23
Note 9 - Summary of Stock Options (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Six Months Ended June 30, 2018 Weighted Weighted Average Number Average Remaining Aggregate of Exercise Contractual Intrinsic Shares Price Term (years) Value Options outstanding, beginning of period 2,694,224 $ 5.80 8.6 $ 249,154 Options granted 2,023,559 $ 3.60 Options exercised - $ - Options canceled (508,428 ) $ 5.66 Options outstanding, end of period 4,209,355 $ 4.76 8.8 $ 433,626 Vested and exercisable and expected to vest, end of period 3,935,007 $ 4.80 8.7 $ 392,290 Vested and exercisable, end of period 1,124,400 $ 5.65 7.5 $ 10,167 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Weighted Number Weighted Average Number Weighted Outstanding Average Remaining Exercisable Average Range of as of Exercise Contractual as of Exercise Exercise Prices June 30, 2018 Price Term (Years) June 30, 2018 Price $1.75 - $1.97 552,500 $ 1.94 9.9 12,500 $ 1.97 $2.64 - $2.72 82,500 $ 2.67 9.5 9,896 $ 2.64 $3.11 - $3.82 319,376 $ 3.63 9.2 55,730 $ 3.76 $4.30 - $4.97 1,477,533 $ 4.52 9.0 336,424 $ 4.65 $5.01 - $5.67 822,652 $ 5.34 8.7 195,456 $ 5.22 $6.00 - $6.61 567,878 $ 6.05 7.6 326,724 $ 6.00 $7.00 - $7.92 348,538 $ 7.65 8.2 149,292 $ 7.68 $9.92 38,135 $ 9.92 4.4 38,135 $ 9.92 $59.60 - $149.04 243 $ 100.46 2.5 243 $ 100.46 4,209,355 $ 4.76 8.8 1,124,400 $ 5.65 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Expected term (in years) 5 5 5 5 Average volatility 69% 48% 75% 48% Risk-free interest rate 2.82% 1.76% 2.63% 1.90% Dividend yield 0% 0% 0% 0% Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Expected term (in years) 10 10 10 10 Average volatility 91% 55% 91% 55% Risk-free interest rate 2.85% 2.00% 2.85% 2.29% Dividend yield 0% 0% 0% 0% |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Cost of revenue $ 17 $ 4 $ 28 $ 7 Research and development 65 57 187 108 Selling, general and administrative 694 394 1,314 712 Total $ 776 $ 455 $ 1,529 $ 827 |
2017 Employee Stock Purchase Plan [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 Expected term (in years) 0.25 0.25 Average volatility 74% 67% Risk-free interest rate 1.73% 1.58% Dividend yield 0% 0% |
Note 1 - The Company and Basi24
Note 1 - The Company and Basis of Presentation (Details Textual) - USD ($) | Feb. 12, 2018 | Nov. 08, 2017 | Mar. 22, 2017 | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 |
Proceeds from Issuance of Common Stock | $ 33,396,000 | $ 31,440,000 | ||||
February 2018 Offering [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 11,500,000 | |||||
Share Price | $ 3 | |||||
Proceeds from Issuance of Common Stock | $ 34,500,000 | |||||
Proceeds From Issuance of Common Stock, Net | $ 32,213,000 | |||||
November 2017 ATM Facility [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 332,778 | |||||
Proceeds From Issuance of Common Stock, Net | $ 1,308,000 | |||||
Aggregate Offering Price | $ 25,000,000 | |||||
ATM Facility [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 65,252 | 273,529 | ||||
Proceeds From Issuance of Common Stock, Net | $ 172,000 | $ 1,183,000 | ||||
March 2017 Offering [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 8,625,000 | |||||
Share Price | $ 4 | |||||
Proceeds from Issuance of Common Stock | $ 34,500,000 | |||||
Proceeds From Issuance of Common Stock, Net | $ 31,440,000 |
Note 2 - Summary of Significa25
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2018USD ($) | |||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (129,589,000) | $ (129,589,000) | $ (105,581,000) | [1] | $ (105,404,000) | |||
Other Liabilities, Noncurrent, Total | 305,000 | 305,000 | 327,000 | [1] | 132,000 | |||
Accrued Liabilities, Current, Total | $ 5,258,000 | $ 5,258,000 | 4,605,000 | [1] | 4,623,000 | |||
Number of Financial Institutions | 1 | 1 | ||||||
Allowance for Doubtful Accounts Receivable, Ending Balance | $ 253,000 | $ 253,000 | 221,000 | |||||
Contract with Customer, Asset, Net, Total | 0 | 0 | 0 | |||||
Contract with Customer, Liability, Total | 182,000 | 182,000 | $ 0 | |||||
Gross Profit, Total | 2,814,000 | $ 1,239,000 | 4,161,000 | $ 2,661,000 | ||||
Equity Method Investment, Other than Temporary Impairment | $ 0 | $ 0 | ||||||
Minimum [Member] | ||||||||
Warranty Period | 1 year | |||||||
Maximum [Member] | ||||||||
Warranty Period | 3 years | |||||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||||
Concentration Risk, Number of Customers | 1 | 3 | 1 | 2 | ||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | One Customer [Member] | ||||||||
Concentration Risk, Percentage | 13.00% | 23.00% | ||||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Three Customers [Member] | ||||||||
Concentration Risk, Percentage | 37.00% | |||||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Two Customers [Member] | ||||||||
Concentration Risk, Percentage | 26.00% | |||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||||
Concentration Risk, Number of Customers | 2 | 2 | ||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member] | ||||||||
Concentration Risk, Percentage | 49.00% | 57.00% | ||||||
Accounting Standards Update 2014-09 [Member] | ||||||||
Retained Earnings (Accumulated Deficit), Ending Balance | [2] | 177,000 | ||||||
Other Liabilities, Noncurrent, Total | [3] | (195,000) | ||||||
Accrued Liabilities, Current, Total | [4] | $ 18,000 | ||||||
Gross Profit, Total | $ 315,000 | |||||||
Increase in Change Amount Reported for Accrued and Other Liabilities Due To Separate Disclosure of Change in Other Noncurrent Liabilities [Member] | Quarter Ended June 30, 2017 [Member] | ||||||||
Prior Period Reclassification Adjustment | $ 53,000 | |||||||
[1] | The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date. | |||||||
[2] | Change relates to cumulative effect adjustment upon adoption of ASC 606. | |||||||
[3] | Change relates to long-term deferred revenue related to the extended warranties not required to be recorded under ASC 606. | |||||||
[4] | Change relates to future costs associated with extended warranties required to be recorded on adoption of ASC 606. |
Note 2 - Summary of Significa26
Note 2 - Summary of Significant Accounting Policies - Cumulative Effect of Adjustments for New Accounting Pronouncements on Consolidated Balance Sheet (Details) - USD ($) | Jun. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | [1] | |
Accrued liabilities | $ 5,258,000 | $ 4,623,000 | $ 4,605,000 | ||
Other noncurrent liabilities | 305,000 | 132,000 | 327,000 | ||
Accumulated deficit | $ (129,589,000) | (105,404,000) | $ (105,581,000) | ||
Accounting Standards Update 2014-09 [Member] | |||||
Accrued liabilities | [2] | 18,000 | |||
Other noncurrent liabilities | [3] | (195,000) | |||
Accumulated deficit | [4] | $ 177,000 | |||
[1] | The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date. | ||||
[2] | Change relates to future costs associated with extended warranties required to be recorded on adoption of ASC 606. | ||||
[3] | Change relates to long-term deferred revenue related to the extended warranties not required to be recorded under ASC 606. | ||||
[4] | Change relates to cumulative effect adjustment upon adoption of ASC 606. |
Note 2 - Summary of Significa27
Note 2 - Summary of Significant Accounting Policies - Impact of New Standard on Consolidated Balance Sheet and Consolidated Statements of Operations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | [1] | |||
Revenue | $ 5,525,000 | $ 3,076,000 | $ 9,224,000 | $ 6,117,000 | |||||
Cost of revenue | 2,711,000 | 1,837,000 | 5,063,000 | 3,456,000 | |||||
Gross profit | 2,814,000 | 1,239,000 | 4,161,000 | 2,661,000 | |||||
Loss from operations | (10,295,000) | (9,063,000) | (21,635,000) | (15,479,000) | |||||
Comprehensive and net loss | $ (11,516,000) | $ (10,425,000) | $ (24,185,000) | $ (17,120,000) | |||||
Basic and diluted (in dollars per share) | $ (0.37) | $ (0.54) | $ (0.85) | $ (1.10) | |||||
Accrued liabilities | $ 5,258,000 | $ 5,258,000 | $ 4,623,000 | $ 4,605,000 | |||||
Other noncurrent liabilities | 305,000 | 305,000 | 132,000 | 327,000 | |||||
Accumulated deficit | (129,589,000) | (129,589,000) | (105,404,000) | $ (105,581,000) | |||||
Accounting Standards Update 2014-09 [Member] | |||||||||
Gross profit | 315,000 | ||||||||
Accrued liabilities | [2] | 18,000 | |||||||
Other noncurrent liabilities | [3] | (195,000) | |||||||
Accumulated deficit | [4] | $ 177,000 | |||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||
Revenue | 5,405,000 | 8,894,000 | |||||||
Cost of revenue | 2,705,000 | 5,048,000 | |||||||
Gross profit | 2,700,000 | 3,846,000 | |||||||
Loss from operations | (10,409,000) | (21,950,000) | |||||||
Comprehensive and net loss | $ (11,630,000) | $ (24,500,000) | |||||||
Basic and diluted (in dollars per share) | $ (0.37) | $ (0.86) | |||||||
Accrued liabilities | $ 5,302,000 | $ 5,302,000 | |||||||
Other noncurrent liabilities | 753,000 | 753,000 | |||||||
Accumulated deficit | (130,081,000) | (130,081,000) | |||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||||||
Revenue | 120,000 | [5] | 330,000 | ||||||
Cost of revenue | 6,000 | [6] | 15,000 | ||||||
Gross profit | 114,000 | [7] | 315,000 | ||||||
Loss from operations | 114,000 | [7] | 315,000 | ||||||
Comprehensive and net loss | $ 114,000 | [7] | $ 315,000 | ||||||
Basic and diluted (in dollars per share) | [7] | $ 0.01 | |||||||
Accrued liabilities | [8] | $ 44,000 | $ 44,000 | ||||||
Other noncurrent liabilities | [9] | 448,000 | 448,000 | ||||||
Accumulated deficit | [10] | $ (492,000) | $ (492,000) | ||||||
[1] | The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date. | ||||||||
[2] | Change relates to future costs associated with extended warranties required to be recorded on adoption of ASC 606. | ||||||||
[3] | Change relates to long-term deferred revenue related to the extended warranties not required to be recorded under ASC 606. | ||||||||
[4] | Change relates to cumulative effect adjustment upon adoption of ASC 606. | ||||||||
[5] | Change relates to revenue from extended assurance warranties for which no deferral is required on the adoption of ASC 606. | ||||||||
[6] | Change relates to the future costs associated with extended assurance warranties required to be recorded on the adoption of ASC 606. | ||||||||
[7] | Change relates to the net gain adjustment on the adoption of ASC 606. | ||||||||
[8] | Change relates to future costs associated with extended warranties required to be recorded on the adoption of ASC 606, partially offset by the current portion of deferred revenue in connection with the extended warranties not required to be recorded under ASC 606. | ||||||||
[9] | Change relates to noncurrent portion of deferred revenue in connection with the extended warranties not required to be recorded under ASC 606. | ||||||||
[10] | Change relates to $177,000 cumulative effect adjustment on the adoption of ASC 606 and the net gain adjustment of $315,000 for the six months ended June 30, 2018. |
Note 2 - Summary of Significa28
Note 2 - Summary of Significant Accounting Policies - Revenue From Unaffiliated Customers by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue | $ 5,525 | $ 3,076 | $ 9,224 | $ 6,117 |
UNITED STATES | ||||
Revenue | 4,552 | 1,895 | 7,158 | 3,791 |
Asia Pacific [Member] | ||||
Revenue | 630 | 690 | 1,521 | 1,433 |
Europe And Middle East [Member] | ||||
Revenue | 329 | 456 | 531 | 568 |
Latin America [Member] | ||||
Revenue | $ 14 | $ 35 | $ 14 | $ 325 |
Note 2 - Summary of Significa29
Note 2 - Summary of Significant Accounting Policies - Antidilutive Securities (Details) - shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Employee Stock Option [Member] | ||
Stock options to purchase common stock (in shares) | 4,209,355 | 2,287,572 |
Common Stock Warrants [Member] | ||
Stock options to purchase common stock (in shares) | 642,622 | 642,622 |
Restricted Stock [Member] | ||
Stock options to purchase common stock (in shares) | 66,250 | 6,250 |
Note 4 - Investment in Limite30
Note 4 - Investment in Limited Liability Company (Details Textual) | Aug. 08, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) |
Income (Loss) from Equity Method Investments, Total | $ (407,000) | |||
InControl Medical [Member] | ||||
Equity Method Investment, Ownership Percentage | 11.00% | 11.00% | ||
Income (Loss) from Equity Method Investments, Total | $ 158,000 | $ 407,000 | ||
InControl Medical [Member] | Distribution Agreement [Member] | ||||
Unrecorded Unconditional Purchase Obligation, Period Quantity Purchased | 2,700 | |||
Payments for Purchase of Products | $ 63,000 | $ 143,000 | ||
InControl Medical [Member] | Membership Unit Subscription Agreement [Member] | ||||
Payments to Acquire Equity Method Investments | $ 2,500,000 | $ 2,500,000 |
Note 5 - Accrued Liabilities -
Note 5 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Accrued sales commission | $ 1,550 | $ 1,067 | ||
Accrued professional fees | 762 | 562 | ||
Accrued interest | 662 | 447 | ||
Accrued bonuses | 613 | 1,597 | ||
Accrued payroll and other related expenses | 521 | 488 | ||
Travel and entertainment | 272 | 156 | ||
Customer contracts liabilities | 182 | |||
Accrued sales & use tax | 161 | 149 | ||
Other accruals | 535 | 139 | ||
Total accrued liabilities | $ 5,258 | $ 4,623 | $ 4,605 | [1] |
[1] | The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date. |
Note 6 - Note Payable (Details
Note 6 - Note Payable (Details Textual) - USD ($) | May 22, 2017 | Jun. 20, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 642,622 | 642,622 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | ||||||
Interest Payable | $ 18,125,000 | $ 18,125,000 | ||||
June 2016 Issuance Related to 2016 Loan Agreement [Member] | ||||||
Warrant Term | 10 years | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 100,402 | 100,402 | 100,402 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4.98 | $ 4.98 | $ 4.98 | |||
May 2017 Issuance Related to 2017 Loan Agreement [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 222,049 | 222,049 | 222,049 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 9.50 | $ 9.50 | $ 9.50 | |||
Warrants and Rights Outstanding, Term | 10 years | |||||
The 2016 Loan Agreement [Member] | Western Alliance Bank [Member] | ||||||
Debt Instrument, Face Amount | $ 10,000,000 | |||||
Debt Instrument, Fee, Percentage | 4.00% | |||||
The 2016 Loan Agreement [Member] | Western Alliance Bank [Member] | First Tranche [Member] | ||||||
Proceeds from Issuance of Long-term Debt, Total | $ 7,500,000 | |||||
The 2016 Loan Agreement [Member] | Western Alliance Bank [Member] | Second Tranche [Member] | ||||||
Proceeds from Issuance of Long-term Debt, Total | $ 2,500,000 | |||||
The 2017 Loan Agreement [Member] | CRG LP [Member] | ||||||
Debt Instrument, Face Amount | $ 20,000,000 | |||||
Debt Agreement, Covenant, Additional Funding | 10,000,000 | |||||
Debt Agreement, Maximum Borrowing Capacity | $ 30,000,000 | |||||
Debt Instrument, Term | 6 years | |||||
Debt instrument, Interest Only Payment, Period | 4 years | |||||
Debt Instrument, Interest Rate, Stated Percentage | 12.50% | |||||
Debt Instrument, Interest Rate, Stated Percentage Deferred During Interest-only Period | 4.00% | |||||
Paid-in-Kind Interest | $ 311,000 | $ 80,000 | $ 616,000 | $ 80,000 | ||
Debt Instrument, Prepayment Fee, Percentage | 5.00% | |||||
Debt Instrument, Prepayment Fee, Period of Term | 5 years | |||||
Debt Instrument, Covenant, Cash and Cash Equivalents | $ 2,000,000 | |||||
The 2017 Loan Agreement [Member] | CRG LP [Member] | Other Noncurrent Liabilities [Member] | ||||||
Interest Payable | $ 305,000 | $ 305,000 |
Note 6 - Note Payable - Summary
Note 6 - Note Payable - Summary of Note Payable (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | [1] |
2018 (remaining six months) | $ 1,359 | ||
2,019 | 2,778 | ||
2,020 | 2,901 | ||
2,021 | 16,672 | ||
2,022 | 19,306 | ||
Thereafter | 6,221 | ||
Total payments | 49,237 | ||
Less: Amount representing interest | (18,125) | ||
Present value of obligations | 31,112 | ||
Less: Unamortized debt discount | (1,388) | ||
Note payable, noncurrent portion | $ 29,724 | $ 28,948 | |
[1] | The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date. |
Note 7 - Commitments and Cont34
Note 7 - Commitments and Contingencies (Details Textual) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Feb. 01, 2017USD ($)ft²$ / item | |
Operating Leases, Rent Expense, Total | $ | $ 90,000 | $ 94,000 | $ 228,000 | $ 167,000 | |
Sublease Agreement for Relocation of Headquarters [Member] | |||||
Area of Real Estate Property | ft² | 12,400 | ||||
Operating Leases, Monthly Rent Per Rentable Square Foot During First Year | $ / item | 20.5 | ||||
Operating Leases, Monthly Rent Per Rentable Square Foot During Second Year | $ / item | 21.12 | ||||
Operating Leases, Monthly Rent Per Rentable Square Foot During Third Year | $ / item | 21.75 | ||||
Security Deposit | $ | $ 22,000 | ||||
Operating Leases, Allowance for Certain Improvements | $ | $ 88,000 |
Note 7 - Commitments and Cont35
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands | Jun. 30, 2018USD ($) |
2018 (remaining six months) | $ 130 |
2,019 | 264 |
2,020 | 112 |
Total minimum lease payments | $ 506 |
Note 8 - Common Stock (Details
Note 8 - Common Stock (Details Textual) | Jun. 08, 2018USD ($)$ / sharesshares | Feb. 12, 2018USD ($)$ / sharesshares | Nov. 08, 2017USD ($) | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2017USD ($)shares | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2017USD ($)shares | May 22, 2017USD ($)yr$ / sharesshares | Jun. 20, 2016USD ($)$ / sharesshares |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares | 100,000 | ||||||||
Shares Issued, Price Per Share | $ / shares | $ 2.56 | ||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 256,000 | ||||||||
Proceeds from Issuance of Common Stock | $ 33,396,000 | $ 31,440,000 | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 642,622 | 642,622 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | |||||||||
Debt Instrument, Unamortized Discount, Total | $ 1,388,000 | $ 1,388,000 | |||||||
Class of Warrants or Rights, Exercises in Period | shares | 0 | 0 | 0 | 0 | |||||
Class of Warrant or Right Number of Securities Called by Warrants or Rights Cancelled In Period | shares | 0 | 0 | 0 | 0 | |||||
Allocated Share-based Compensation Expense, Total | $ 776,000 | $ 455,000 | $ 1,529,000 | $ 827,000 | |||||
The 2016 Loan Agreement [Member] | |||||||||
Debt Issuance Costs, Net, Total | $ 90,000 | ||||||||
Amortization of Debt Discount (Premium) | 336,000 | 371,000 | |||||||
The 2017 Loan Agreement [Member] | |||||||||
Debt Issuance Costs, Net, Total | 786,000 | 786,000 | |||||||
Amortization of Debt Discount (Premium) | 160,000 | ||||||||
Debt Instrument, Unamortized Discount, Total | $ 1,388,000 | $ 1,388,000 | |||||||
June 2016 Issuance Related to 2016 Loan Agreement [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 100,402 | 100,402 | 100,402 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 4.98 | $ 4.98 | $ 4.98 | ||||||
Warrants and Rights Outstanding | $ 350,000 | ||||||||
May 2017 Issuance Related to 2017 Loan Agreement [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 222,049 | 222,049 | 222,049 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 9.50 | $ 9.50 | $ 9.50 | ||||||
Warrants and Rights Outstanding | $ 940,000 | ||||||||
Warrants and Rights Outstanding, Term | 10 years | ||||||||
Allocated Share-based Compensation Expense, Total | $ 0 | $ 0 | $ 0 | $ 0 | |||||
May 2017 Issuance Related to 2017 Loan Agreement [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | ||||||||
May 2017 Issuance Related to 2017 Loan Agreement [Member] | Measurement Input, Price Volatility [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 0.551 | ||||||||
May 2017 Issuance Related to 2017 Loan Agreement [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | 0.0225 | ||||||||
May 2017 Issuance Related to 2017 Loan Agreement [Member] | Measurement Input, Expected Term [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input | yr | 10 | ||||||||
February 2018 Offering [Member] | |||||||||
Stock Issued During Period, Shares, New Issues | shares | 11,500,000 | ||||||||
Share Price | $ / shares | $ 3 | ||||||||
Proceeds from Issuance of Common Stock | $ 34,500,000 | ||||||||
Proceeds From Issuance of Common Stock, Net | $ 32,213,000 | ||||||||
November 2017 ATM Facility [Member] | |||||||||
Stock Issued During Period, Shares, New Issues | shares | 332,778 | ||||||||
Proceeds From Issuance of Common Stock, Net | $ 1,308,000 | ||||||||
Aggregate Offering Price | $ 25,000,000 | ||||||||
ATM Facility [Member] | |||||||||
Stock Issued During Period, Shares, New Issues | shares | 65,252 | 273,529 | |||||||
Proceeds From Issuance of Common Stock, Net | $ 172,000 | $ 1,183,000 |
Note 8 - Common Stock - Summary
Note 8 - Common Stock - Summary of Outstanding Warrants (Details) - $ / shares | 6 Months Ended | ||
Jun. 30, 2018 | May 22, 2017 | Jun. 20, 2016 | |
Expiration Date | |||
Exercise Price (in dollars per share) | |||
Shares Outstanding Under Warrants (in shares) | 642,622 | ||
September 2014 Issuance Through Private Offering [Member] | |||
Expiration Date | Sep. 23, 2019 | ||
Exercise Price (in dollars per share) | $ 4.24 | ||
Shares Outstanding Under Warrants (in shares) | 86,831 | ||
Vendors and Contractor Warrants, October 2014 Issuance [Member] | |||
Expiration Date | Oct. 13, 2019 | ||
Exercise Price (in dollars per share) | $ 4.24 | ||
Shares Outstanding Under Warrants (in shares) | 29,000 | ||
Vendors and Contractor Warrants, November 2014 Issuance [Member] | |||
Expiration Date | Nov. 12, 2019 | ||
Exercise Price (in dollars per share) | $ 4.24 | ||
Shares Outstanding Under Warrants (in shares) | 12,500 | ||
Employee Performance Bonus Warrants, February 2015 Issuance [Member] | |||
Expiration Date | Feb. 17, 2025 | ||
Exercise Price (in dollars per share) | $ 4 | ||
Shares Outstanding Under Warrants (in shares) | 75,697 | ||
Contractor Warrants, March 2015 Issuance [Member] | |||
Expiration Date | Mar. 26, 2025 | ||
Exercise Price (in dollars per share) | $ 2.72 | ||
Shares Outstanding Under Warrants (in shares) | 1,454 | ||
Contractor Warrants, May 2015 Issuance [Member] | |||
Expiration Date | May 12, 2025 | ||
Exercise Price (in dollars per share) | $ 4.24 | ||
Shares Outstanding Under Warrants (in shares) | 36,229 | ||
May 2015 Issuance Second Contractor [Member] | |||
Expiration Date | May 17, 2020 | ||
Exercise Price (in dollars per share) | $ 4.24 | ||
Shares Outstanding Under Warrants (in shares) | 21,585 | ||
Performance Bonus Warrants, December 2015 Issuance [Member] | |||
Expiration Date | Dec. 16, 2025 | ||
Exercise Price (in dollars per share) | $ 5.60 | ||
Shares Outstanding Under Warrants (in shares) | 26,875 | ||
Distributor Warrants, April 2016 Issuance [Member] | |||
Expiration Date | Apr. 1, 2026 | ||
Exercise Price (in dollars per share) | $ 6.08 | ||
Shares Outstanding Under Warrants (in shares) | 25,000 | ||
Contractor Warrants, May 2016 Issuance [Member] | |||
Expiration Date | May 11, 2021 | ||
Exercise Price (in dollars per share) | $ 7.74 | ||
Shares Outstanding Under Warrants (in shares) | 5,000 | ||
June 2016 Issuance Related to 2016 Loan Agreement [Member] | |||
Expiration Date | Jun. 20, 2026 | ||
Exercise Price (in dollars per share) | $ 4.98 | $ 4.98 | |
Shares Outstanding Under Warrants (in shares) | 100,402 | 100,402 | |
May 2017 Issuance Related to 2017 Loan Agreement [Member] | |||
Expiration Date | May 25, 2027 | ||
Exercise Price (in dollars per share) | $ 9.50 | $ 9.50 | |
Shares Outstanding Under Warrants (in shares) | 222,049 | 222,049 |
Note 9 - Summary of Stock Opt38
Note 9 - Summary of Stock Options (Details Textual) - USD ($) | Jun. 29, 2018 | May 30, 2018 | Mar. 29, 2018 | Dec. 06, 2017 | Jun. 30, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 05, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 4,209,355 | 4,209,355 | 4,209,355 | 2,694,224 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 4.76 | $ 4.76 | $ 4.76 | $ 5.80 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 292 days | 8 years 219 days | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,023,559 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 30,785 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 6,341,000 | $ 6,341,000 | $ 6,341,000 | |||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years | |||||||||||||
Nonemployees [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% | ||||||||||
Employee Stock Option [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award Accelerated Compensation Cost | $ 97,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||||||||
Restricted Stock [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 66,250 | 66,250 | 66,250 | |||||||||||
Restricted Stock [Member] | Consultant [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 50,000 | 25,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 3.58 | $ 5.19 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | 1 year | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 0 | 18,750 | ||||||||||||
The 2006 Stock Option Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 38,378 | 38,378 | 38,378 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | 0 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 10.49 | $ 10.49 | $ 10.49 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 4 years 146 days | |||||||||||||
The 2013 Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 4,170,977 | 4,170,977 | 4,170,977 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 4.71 | $ 4.71 | $ 4.71 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 292 days | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 914,016 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,914,016 | 4,000,000 | ||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 486,103 | 486,103 | 486,103 | |||||||||||
The 2013 Plan [Member] | Employees [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 570,000 | 185,250 | 1,821,171 | 415,110 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.34 | $ 3.31 | $ 2.32 | $ 2.56 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 7,730 | 0 | 7,730 | ||||||||||
The 2013 Plan [Member] | Nonemployees [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 200,000 | 5,875 | 202,388 | 5,875 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.59 | $ 5.11 | $ 1.61 | $ 5.11 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | 0 | ||||||||||
The 2013 Plan [Member] | Restricted Stock [Member] | Board Members [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 14,672 | 9,637 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 3.44 | $ 5.19 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 14,672 | 9,637 | ||||||||||||
2017 Employee Stock Purchase Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.95 | $ 1.11 | ||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 25,618 | 20,744 | ||||||||||||
Employee Stock Purchase Plan, Purchase Price | $ 2.31 | $ 3.11 | ||||||||||||
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 335,744 | 335,744 | 335,744 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% |
Note 9 - Summary of Stock Opt39
Note 9 - Summary of Stock Options - Summary of Option Activity Under All Plans (Details) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | |
Options outstanding, Shares (in shares) | shares | 2,694,224 | |
Options outstanding, Weighted average exercise price (in dollars per share) | $ / shares | $ 5.80 | |
Options outstanding, Weighted Average Remaining Contractual Term (Year) | 8 years 292 days | 8 years 219 days |
Options outstanding, Aggregate Intrinsic Value | $ | $ 433,626 | $ 249,154 |
Options granted, Shares (in shares) | shares | 2,023,559 | |
Options granted, Weighted average exercise price (in dollars per share) | $ / shares | $ 3.60 | |
Options exercised, Shares (in shares) | shares | ||
Options exercised, Weighted average exercise price (in dollars per share) | $ / shares | ||
Options canceled, Shares (in shares) | shares | (508,428) | |
Options canceled, Weighted average exercise price (in dollars per share) | $ / shares | $ 5.66 | |
Options outstanding, Shares (in shares) | shares | 4,209,355 | 2,694,224 |
Options outstanding, Weighted average exercise price (in dollars per share) | $ / shares | $ 4.76 | $ 5.80 |
Vested and exercisable and expected to vest, end of period, Number Of Shares (in shares) | shares | 3,935,007 | |
Vested and exercisable and expected to vest, end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4.80 | |
Vested and exercisable and expected to vest, end of period, Weighted Average Remaining Contractual Term (Year) | 8 years 255 days | |
Vested and exercisable and expected to vest, end of period, Aggregate Intrinsic Value | $ | $ 392,290 | |
Vested and exercisable, end of period, Number Of Shares (in shares) | shares | 1,124,400 | |
Vested and exercisable, end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 5.65 | |
Vested and exercisable, end of period, Weighted Average Remaining Contractual Term (Year) | 7 years 182 days | |
Vested and exercisable, end of period, Aggregate Intrinsic Value | $ | $ 10,167 |
Note 9 - Summary of Stock Opt40
Note 9 - Summary of Stock Options - Summary of Options Outstanding and Exercisable (Details) | 6 Months Ended |
Jun. 30, 2018$ / sharesshares | |
Exercise price range, lower limit (in dollars per share) | |
Exercise price range, upper limit (in dollars per share) | $ 2.64 |
Options outstanding, number (in shares) | shares | 4,209,355 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 4.76 |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 292 days |
Options exercisable, number exercisable (in shares) | shares | 1,124,400 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 5.65 |
Range One [Member] | |
Exercise price range, lower limit (in dollars per share) | 1.75 |
Exercise price range, upper limit (in dollars per share) | $ 1.97 |
Options outstanding, number (in shares) | shares | 552,500 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.94 |
Options outstanding, weighted average remaining contractual term (Year) | 9 years 328 days |
Options exercisable, number exercisable (in shares) | shares | 12,500 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.97 |
Range Two [Member] | |
Exercise price range, lower limit (in dollars per share) | 2.64 |
Exercise price range, upper limit (in dollars per share) | $ 2.72 |
Options outstanding, number (in shares) | shares | 82,500 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 2.67 |
Options outstanding, weighted average remaining contractual term (Year) | 9 years 182 days |
Options exercisable, number exercisable (in shares) | shares | 9,896 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 2.64 |
Range Three [Member] | |
Exercise price range, lower limit (in dollars per share) | 3.11 |
Exercise price range, upper limit (in dollars per share) | $ 3.82 |
Options outstanding, number (in shares) | shares | 319,376 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 3.63 |
Options outstanding, weighted average remaining contractual term (Year) | 9 years 73 days |
Options exercisable, number exercisable (in shares) | shares | 55,730 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 3.76 |
Range Four [Member] | |
Exercise price range, lower limit (in dollars per share) | 4.30 |
Exercise price range, upper limit (in dollars per share) | $ 4.97 |
Options outstanding, number (in shares) | shares | 1,477,533 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 4.52 |
Options outstanding, weighted average remaining contractual term (Year) | 9 years |
Options exercisable, number exercisable (in shares) | shares | 336,424 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 4.65 |
Range Five [Member] | |
Exercise price range, lower limit (in dollars per share) | 5.01 |
Exercise price range, upper limit (in dollars per share) | $ 5.67 |
Options outstanding, number (in shares) | shares | 822,652 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 5.34 |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 255 days |
Options exercisable, number exercisable (in shares) | shares | 195,456 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 5.22 |
Range Six [Member] | |
Exercise price range, lower limit (in dollars per share) | 6 |
Exercise price range, upper limit (in dollars per share) | $ 6.61 |
Options outstanding, number (in shares) | shares | 567,878 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 6.05 |
Options outstanding, weighted average remaining contractual term (Year) | 7 years 219 days |
Options exercisable, number exercisable (in shares) | shares | 326,724 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 6 |
Range Seven [Member] | |
Exercise price range, lower limit (in dollars per share) | 7 |
Exercise price range, upper limit (in dollars per share) | $ 7.92 |
Options outstanding, number (in shares) | shares | 348,538 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 7.65 |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 73 days |
Options exercisable, number exercisable (in shares) | shares | 149,292 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 7.68 |
Range Eight [Member] | |
Exercise price range, upper limit (in dollars per share) | |
Options outstanding, number (in shares) | shares | 38,135 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 9.92 |
Options outstanding, weighted average remaining contractual term (Year) | 4 years 146 days |
Options exercisable, number exercisable (in shares) | shares | 38,135 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 9.92 |
Range Nine [Member] | |
Exercise price range, lower limit (in dollars per share) | 59.60 |
Exercise price range, upper limit (in dollars per share) | $ 149.04 |
Options outstanding, number (in shares) | shares | 243 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 100.46 |
Options outstanding, weighted average remaining contractual term (Year) | 2 years 182 days |
Options exercisable, number exercisable (in shares) | shares | 243 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 100.46 |
Note 9 - Summary of Stock Opt41
Note 9 - Summary of Stock Options - Valuation Assumption for Employee Stock Purchase Plan (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Expected term (Year) | 5 years | 5 years | 5 years | 5 years |
Average volatility | 69.00% | 48.00% | 75.00% | 48.00% |
Risk-free interest rate | 2.82% | 1.76% | 2.63% | 1.90% |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
2017 Employee Stock Purchase Plan [Member] | ||||
Expected term (Year) | 91 days | 91 days | ||
Average volatility | 74.00% | 67.00% | ||
Risk-free interest rate | 1.73% | 1.58% | ||
Dividend yield | 0.00% | 0.00% |
Note 9 - Summary of Stock Opt42
Note 9 - Summary of Stock Options - Valuation Assumptions for Stock Options (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Expected term (Year) | 5 years | 5 years | 5 years | 5 years |
Average volatility | 69.00% | 48.00% | 75.00% | 48.00% |
Risk-free interest rate | 2.82% | 1.76% | 2.63% | 1.90% |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Nonemployees [Member] | ||||
Expected term (Year) | 10 years | 10 years | 10 years | 10 years |
Average volatility | 91.00% | 55.00% | 91.00% | 55.00% |
Risk-free interest rate | 2.85% | 2.00% | 2.85% | 2.29% |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Note 9 - Summary of Stock Opt43
Note 9 - Summary of Stock Options - Stock-based Compensation Expense Included in the Statement of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Stock-based compensation expense | $ 776 | $ 455 | $ 1,529 | $ 827 |
Cost of Sales [Member] | ||||
Stock-based compensation expense | 17 | 4 | 28 | 7 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 65 | 57 | 187 | 108 |
Selling, General and Administrative Expenses [Member] | ||||
Stock-based compensation expense | $ 694 | $ 394 | $ 1,314 | $ 712 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2018 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 0.00% | 0.00% | 0.00% | 0.00% | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||
Scenario, Forecast [Member] | |||||
Effective Income Tax Rate Reconciliation, Percent, Total | 0.00% |
Note 11 - Related Party Trans45
Note 11 - Related Party Transactions (Details Textual) - USD ($) | Aug. 08, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 |
InControl Medical [Member] | Membership Unit Subscription Agreement [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 63,000 | $ 143,000 | |||||
Payments to Acquire Equity Method Investments | $ 2,500,000 | 2,500,000 | |||||
Stellartech Research Corporation [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 37,500 | ||||||
Related Party Transaction, Amounts of Transaction | 2,325,000 | $ 1,681,000 | 5,598,000 | $ 3,706,000 | |||
Accounts Payable, Related Parties, Current | 1,258,000 | 1,258,000 | $ 1,258,000 | $ 1,380,000 | |||
InControl Medical [Member] | Membership Unit Subscription Agreement [Member] | |||||||
Accounts Payable, Related Parties, Current | $ 22,000 | $ 22,000 | $ 22,000 | $ 28,000 |