Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 07, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | VIVEVE MEDICAL, INC. | |
Entity Central Index Key | 0000879682 | |
Trading Symbol | vive | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 46,613,204 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 | [1] |
Current assets: | |||
Cash and cash equivalents | $ 9,506,000 | $ 29,523,000 | |
Accounts receivable, net of allowance for doubtful accounts of $469 and $284 as of June 30, 2019 and December 31, 2018, respectively | 3,556,000 | 5,704,000 | |
Inventory | 4,714,000 | 4,119,000 | |
Prepaid expenses and other current assets | 2,768,000 | 2,558,000 | |
Total current assets | 20,544,000 | 41,904,000 | |
Property and equipment, net | 2,726,000 | 2,916,000 | |
Investment in limited liability company | 1,580,000 | 1,843,000 | |
Other assets | 646,000 | 171,000 | |
Total assets | 25,496,000 | 46,834,000 | |
Current liabilities: | |||
Accounts payable | 1,606,000 | 3,994,000 | |
Accrued liabilities | 5,278,000 | 6,766,000 | |
Total current liabilities | 6,884,000 | 10,760,000 | |
Note payable, noncurrent portion | 31,271,000 | 30,528,000 | |
Other noncurrent liabilities | 1,010,000 | 634,000 | |
Total liabilities | 39,165,000 | 41,922,000 | |
Commitments and contingences (Note 8) | |||
Stockholders’ equity (deficit): | |||
Common stock, $0.0001 par value; 75,000,000 shares authorized as of June 30, 2019 and December 31, 2018; 46,574,958 and 46,363,945 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively | 5,000 | 5,000 | |
Additional paid-in capital | 161,464,000 | 160,292,000 | |
Accumulated deficit | (175,138,000) | (155,385,000) | |
Total stockholders’ equity (deficit) | (13,669,000) | 4,912,000 | |
Total liabilities and stockholders’ equity (deficit) | $ 25,496,000 | $ 46,834,000 | |
[1] | The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | [1] |
Accounts receivable, allowance for doubtful accounts | $ 469 | $ 284 | |
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) | 46,574,958 | 46,363,945 | |
Common stock, shares outstanding (in shares) | 46,574,958 | 46,363,945 | |
[1] | The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenue | $ 1,052,000 | $ 5,525,000 | $ 4,064,000 | $ 9,224,000 |
Cost of revenue | 941,000 | 2,711,000 | 2,882,000 | 5,063,000 |
Gross profit | 111,000 | 2,814,000 | 1,182,000 | 4,161,000 |
Operating expenses: | ||||
Research and development | 2,902,000 | 3,672,000 | 5,382,000 | 7,428,000 |
Selling, general and administrative | 5,530,000 | 9,437,000 | 12,156,000 | 18,368,000 |
Restructuring costs | 742,000 | |||
Total operating expenses | 8,432,000 | 13,109,000 | 18,280,000 | 25,796,000 |
Loss from operations | (8,321,000) | (10,295,000) | (17,098,000) | (21,635,000) |
Interest expense, net | (1,194,000) | (1,063,000) | (2,310,000) | (2,133,000) |
Other expense, net | (71,000) | (82,000) | (10,000) | |
Net loss from consolidated companies | (9,586,000) | (11,358,000) | (19,490,000) | (23,778,000) |
Loss from minority interest in limited liability company | (138,000) | (158,000) | (263,000) | (407,000) |
Comprehensive and net loss | $ (9,724,000) | $ (11,516,000) | $ (19,753,000) | $ (24,185,000) |
Net loss per share: | ||||
Basic and diluted (in dollars per share) | $ (0.21) | $ (0.37) | $ (0.43) | $ (0.85) |
Weighted average shares used in computing net loss per common share: | ||||
Basic and diluted (in shares) | 46,494,274 | 31,305,386 | 46,433,421 | 28,591,134 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands | February 2018 Offering [Member]Common Stock [Member] | February 2018 Offering [Member]Additional Paid-in Capital [Member] | February 2018 Offering [Member] | November 2017 ATM Facility [Member]Common Stock [Member] | November 2017 ATM Facility [Member]Additional Paid-in Capital [Member] | November 2017 ATM Facility [Member]Retained Earnings [Member] | November 2017 ATM Facility [Member] | Consultant [Member]Common Stock [Member] | Consultant [Member]Additional Paid-in Capital [Member] | Consultant [Member]Retained Earnings [Member] | Consultant [Member] | Director [Member]Common Stock [Member] | Director [Member]Additional Paid-in Capital [Member] | Director [Member]Retained Earnings [Member] | Director [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total | |
Balances (in shares) at Dec. 31, 2017 | 19,503,558 | |||||||||||||||||||
Balances at Dec. 31, 2017 | $ 2 | $ 102,979 | $ (105,581) | $ (2,600) | ||||||||||||||||
Stock-based compensation expense | 645 | 645 | ||||||||||||||||||
Issuance of common shares from employee stock purchase plan (in shares) | 20,744 | |||||||||||||||||||
Issuance of common shares from employee stock purchase plan | 65 | 65 | ||||||||||||||||||
Issuance of restricted shares (in shares) | 22,137 | |||||||||||||||||||
Issuance of restricted shares | 108 | 108 | ||||||||||||||||||
Net loss | (12,669) | (12,669) | ||||||||||||||||||
Stock offering, net of issuance costs (in shares) | 11,500,000 | 208,277 | ||||||||||||||||||
Stock offering, net of issuance costs | $ 1 | $ 32,224 | $ 32,225 | $ 1,011 | $ 1,011 | |||||||||||||||
Cumulative effect adjustment from adoption of new accounting standard – ASC 606 | 177 | 177 | ||||||||||||||||||
Balances (in shares) at Mar. 31, 2018 | 31,254,716 | |||||||||||||||||||
Balances at Mar. 31, 2018 | $ 3 | 137,032 | (118,073) | 18,962 | ||||||||||||||||
Balances (in shares) at Dec. 31, 2017 | 19,503,558 | |||||||||||||||||||
Balances at Dec. 31, 2017 | $ 2 | 102,979 | (105,581) | (2,600) | ||||||||||||||||
Net loss | (24,185) | |||||||||||||||||||
Stock offering, net of issuance costs (in shares) | 273,529 | |||||||||||||||||||
Balances (in shares) at Jun. 30, 2018 | 31,466,508 | |||||||||||||||||||
Balances at Jun. 30, 2018 | $ 3 | 138,283 | (129,589) | 8,697 | ||||||||||||||||
Balances (in shares) at Mar. 31, 2018 | 31,254,716 | |||||||||||||||||||
Balances at Mar. 31, 2018 | $ 3 | 137,032 | (118,073) | 18,962 | ||||||||||||||||
Stock-based compensation expense | 709 | 709 | ||||||||||||||||||
Issuance of common shares from employee stock purchase plan (in shares) | 25,618 | |||||||||||||||||||
Issuance of common shares from employee stock purchase plan | 59 | 59 | ||||||||||||||||||
Issuance of restricted shares (in shares) | 20,922 | |||||||||||||||||||
Issuance of restricted shares | 67 | 67 | ||||||||||||||||||
Issuance of common shares in connection with restricted stock award to employee (in shares) | 100,000 | |||||||||||||||||||
Issuance of common shares in connection with restricted stock award to employee | 256 | 256 | ||||||||||||||||||
Net loss | (11,516) | (11,516) | ||||||||||||||||||
Stock offering, net of issuance costs (in shares) | 65,252 | 65,252 | ||||||||||||||||||
Stock offering, net of issuance costs | $ 171 | $ 171 | ||||||||||||||||||
February 2018 Offering issuance costs | (11) | (11) | ||||||||||||||||||
Balances (in shares) at Jun. 30, 2018 | 31,466,508 | |||||||||||||||||||
Balances at Jun. 30, 2018 | $ 3 | 138,283 | (129,589) | 8,697 | ||||||||||||||||
Balances (in shares) at Dec. 31, 2018 | 46,363,945 | |||||||||||||||||||
Balances at Dec. 31, 2018 | $ 5 | 160,292 | (155,385) | 4,912 | [1] | |||||||||||||||
Stock-based compensation expense | 470 | 470 | ||||||||||||||||||
Issuance of common shares from employee stock purchase plan (in shares) | 43,759 | |||||||||||||||||||
Issuance of common shares from employee stock purchase plan | 35 | 35 | ||||||||||||||||||
Issuance of restricted shares (in shares) | 27,473 | |||||||||||||||||||
Issuance of restricted shares | $ 25 | $ 25 | ||||||||||||||||||
Issuance of common shares in connection with restricted stock award to employee (in shares) | 625 | |||||||||||||||||||
Issuance of common shares in connection with restricted stock award to employee | 1 | 1 | ||||||||||||||||||
Net loss | (10,029) | (10,029) | ||||||||||||||||||
Balances (in shares) at Mar. 31, 2019 | 46,435,802 | |||||||||||||||||||
Balances at Mar. 31, 2019 | $ 5 | 160,823 | (165,414) | (4,586) | ||||||||||||||||
Balances (in shares) at Dec. 31, 2018 | 46,363,945 | |||||||||||||||||||
Balances at Dec. 31, 2018 | $ 5 | 160,292 | (155,385) | 4,912 | [1] | |||||||||||||||
Net loss | (19,753) | |||||||||||||||||||
Stock offering, net of issuance costs (in shares) | 0 | |||||||||||||||||||
Balances (in shares) at Jun. 30, 2019 | 46,574,958 | |||||||||||||||||||
Balances at Jun. 30, 2019 | $ 5 | 161,464 | (175,138) | (13,669) | ||||||||||||||||
Balances (in shares) at Mar. 31, 2019 | 46,435,802 | |||||||||||||||||||
Balances at Mar. 31, 2019 | $ 5 | 160,823 | (165,414) | (4,586) | ||||||||||||||||
Stock-based compensation expense | 562 | 562 | ||||||||||||||||||
Issuance of common shares from employee stock purchase plan (in shares) | 60,740 | |||||||||||||||||||
Issuance of common shares from employee stock purchase plan | 20 | 20 | ||||||||||||||||||
Issuance of restricted shares (in shares) | 25,000 | 52,791 | ||||||||||||||||||
Issuance of restricted shares | $ 11 | $ 11 | $ 48 | $ 48 | ||||||||||||||||
Issuance of common shares in connection with restricted stock award to employee (in shares) | 625 | |||||||||||||||||||
Issuance of common shares in connection with restricted stock award to employee | ||||||||||||||||||||
Net loss | (9,724) | (9,724) | ||||||||||||||||||
Stock offering, net of issuance costs (in shares) | 0 | |||||||||||||||||||
Balances (in shares) at Jun. 30, 2019 | 46,574,958 | |||||||||||||||||||
Balances at Jun. 30, 2019 | $ 5 | $ 161,464 | $ (175,138) | $ (13,669) | ||||||||||||||||
[1] | The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | ||
Cash flows from operating activities: | |||
Net loss | $ (19,753,000) | $ (24,185,000) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Provision for doubtful accounts | 185,000 | 32,000 | |
Depreciation and amortization | 547,000 | 334,000 | |
Stock-based compensation | 1,117,000 | 1,529,000 | |
Fair value of common shares issued | 256,000 | ||
Non-cash interest expense | 843,000 | 776,000 | |
Amortization of operating lease right-of-use assets and accretion of operating lease liabilities | 5,000 | ||
Loss from minority interest in limited liability company | 263,000 | 407,000 | |
Loss on disposal of property and equipment | 65,000 | ||
Changes in assets and liabilities: | |||
Accounts receivable | 1,963,000 | (1,060,000) | |
Inventory | (299,000) | (1,930,000) | |
Prepaid expenses and other current assets | (210,000) | (283,000) | |
Other noncurrent assets | 40,000 | 14,000 | |
Accounts payable | (2,388,000) | 68,000 | |
Accrued and other liabilities | (1,736,000) | 635,000 | |
Other noncurrent liabilities | 104,000 | 173,000 | |
Net cash used in operating activities | (19,254,000) | (23,234,000) | |
Cash flows from investing activities: | |||
Purchase of property and equipment | (718,000) | (803,000) | |
Net cash used in investing activities | (718,000) | (803,000) | |
Cash flows from financing activities: | |||
Proceeds from sale of common stock, net of issuance costs | 33,396,000 | ||
Proceeds from issuance of common shares from employee stock purchase plan | 55,000 | 124,000 | |
Transaction costs in connection with note payable | (100,000) | ||
Net cash provided by (used in) financing activities | (45,000) | 33,520,000 | |
Net increase (decrease) in cash and cash equivalents | (20,017,000) | 9,483,000 | |
Cash and cash equivalents - beginning of period | 29,523,000 | [1] | 20,730,000 |
Cash and cash equivalents - end of period | 9,506,000 | 30,213,000 | |
Supplemental disclosure: | |||
Cash paid for interest | 1,364,000 | 1,315,000 | |
Cash paid for income taxes | 2,000 | ||
Supplemental disclosure of cash flow information as of end of period: | |||
Issuance of note payable in settlement of accrued interest | 642,000 | 616,000 | |
Net transfer of equipment between inventory and property and equipment | (296,000) | 159,000 | |
Operating cash outflows from operating leases | 73,000 | ||
Right-of-use assets obtained in exchange for operating lease liabilities (upon adoption of ASC 842) | $ 629,000 | ||
[1] | The condensed consolidated balance sheet as of December 31, 2018 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, 2019 | |
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”) designs, develops, manufactures and markets a platform medical technology, which we refer to as Cryogen-cooled Monopolar RadioFrequency Public Offerings In December 2018, “December 2018 14,728,504 $1.50 $22,093,000. $20,385,000. In February 2018, “February 2018 11,500,000 $3.00 $34,500,000. $32,214,000. 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, 2019, zero November 2017 three six June 30, 2018, 65,252 273,529 November 2017 $172,000 $1,183,000. June 30, 2019, 336,498 November 2017 $1,318,000. 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, 2018, March 15, 2019. three six June 30, 2019 not December 31, 2019 Liquidity and Management Plans The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standard Codification (“ASC”) Topic 205 40, one The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. However, since inception, the Company has sustained significant operating losses and such losses are expected to continue for the foreseeable future. As of June 30, 2019, $175,138,000, $9,506,000 $13,660,000. $7,696,000 three June 30, 2019 $19,254,000 six June 30, 2019. August 2020. not one To fund further operations, the Company will need to raise additional capital. The Company may no not no no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2019 | |
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 readily apparent from other sources. Actual results may differ from these estimates. In addition, any change in these estimates or their related assumptions could have an adverse effect on our operating results. Changes in Accounting Policies Except for the changes for the adoption of the new accounting standard for leases, the Company has consistently applied the accounting policies to all periods presented in these condensed consolidated financial statements. Adoption of New Accounting Standard - Leases The Company adopted FASB’s Accounting Standards Update (“ASU”) No. 2016 - 02, Leases (Topic 842 ), as of January 1, 2019, using the modified retrospective approach. The modified retrospective approach provides a method for recording existing leases at the beginning of the period of adoption. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification and we elected the hindsight practical expedient to determine the lease term for existing leases. We determined that the renewal options for the facilities lease would be reasonably certain to be renewed and as such, included that renewal period in determining the expected lease term of that lease. Adoption of the new standard resulted in the recording of operating lease right-of-use assets of $629,000 and operating lease liabilities of $629,000, as of January 1, 2019. The standard did not have an impact on our consolidated results of operations, cash flows or stockholders’ equity previously reported. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The effect of the changes made to our consolidated January 1, 2019 balance sheet for the adoption of the new lease standard was as follows (in thousands): Adjustments Due to December 31, Adoption of January 1, 2018 ASC 842 2019 Other assets $ 171 $ 629 (1) $ 800 Total assets $ 46,834 $ 629 (1) $ 47,463 Accrued liabilities $ 6,766 $ 230 (2) $ 6,996 Total current liabilities $ 10,760 $ 230 (2) $ 10,990 Other noncurrent liabilities $ 634 $ 399 (2) $ 1,033 Total liabilities $ 41,922 $ 629 (2) $ 42,551 Total liabilities and stockholders' equity $ 46,834 $ 629 (2) $ 47,463 ( 1 ) Represents capitalization of operating lease right-of-use assets and reclassification of deferred rent. ( 2 ) Represents recognition of operating lease liabilities. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less, at the time of purchase, to be cash equivalents. The Company’s cash and cash equivalents are deposited in demand accounts primarily at one financial institution. Deposits in this institution may, from time to time, exceed the federally insured amounts. 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 assurance that any such products can be developed or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products will be successfully marketed. These factors could have a material adverse effect upon the Company’s financial results, financial position, and future cash flows. Most of 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 assurance that the Company’s products will receive any of these required clearances or approvals or for the indications requested. If the Company was denied such clearances or approvals or if such clearances or approvals were delayed, it would have a material adverse effect on the Company’s financial results, financial position and future cash flows. The Company is subject to risks common to companies in the medical device industry including, but not limited to, new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, uncertainty of market acceptance of products, product liability, and the need to obtain additional financing. The Company’s ultimate success is dependent upon its ability to raise additional capital and to successfully develop and market its products. 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 main components: a RF, or radio frequency, generator housed in a table-top console, a reusable handpiece and a single-use treatment tip. Included with the system are single-use accessories (e.g. RF return pad, coupling fluid), as well as a cryogen canister that can be used for approximately four to five procedures, and a foot pedal. The Company outsources the manufacture and repair of the Viveve System to a single contract manufacturer. Also, certain other components and materials that comprise the device are currently manufactured by a single supplier or a limited number of suppliers. A significant supply interruption or disruption in the operations of the contract manufacturer or these third -party suppliers would adversely impact the production of our products for a substantial period of time, which could have a material adverse effect on our business, financial condition, operating results and cash flows. 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 months ended June 30, 2019, three distributors, collectively, accounted for 55% of the Company’s revenue. During the three months ended June 30, 2018, one distributor accounted for 13% of the Company’s revenue. During the six months ended June 30, 2019, two distributors, collectively, accounted for 32 % of the Company’s revenue. During the six months ended June 30, 2018, one distributor accounted for 23% of the Company’s revenue. There were no direct sales customers that accounted for more than 10% of the Company’s revenue during the three and six months ended June 30, 2019 and 2018. As of June 30, 2019, four distributors, collectively, accounted for 64% of total accounts receivable, net. As of December 31, 2018, three distributors, collectively, accounted for 54% of total accounts receivable, net. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and are not interest bearing. Our typical payment terms vary by region and type of customer (distributor or physician). Occasionally, payment terms of up to six months may be granted to customers with an established history of collections without concessions. Should we grant payment terms greater than six months or terms that are not in accordance with established history for similar arrangements, revenue would be recognized as payments become due and payable assuming all other criteria for revenue recognition have been met. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company makes ongoing assumptions relating to the collectability of its accounts receivable in its calculation of the allowance for doubtful accounts. In determining the amount of the allowance, the Company makes judgments about the creditworthiness of customers based on ongoing credit evaluations and assesses current economic trends affecting its customers that might impact the level of credit losses in the future and result in different rates of bad debts than previously seen. The Company also considers its historical level of credit losses. The allowance for doubtful accounts was $469,000 as of June 30, 2019 and $284,000 as of December 31, 2018. 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 steps: ( 1 ) identify the contract with a customer, ( 2 ) identify the performance obligations in the contract, ( 3 ) determine the transaction price, ( 4 ) allocate the transaction price to the performance obligations in the contract, and ( 5 ) recognize revenue when a performance obligation is satisfied. The Company considers customer purchase orders to be the contracts with a customer. Revenues, net of expected discounts, are recognized when the performance obligations of the contract with the customer are satisfied and when control of the promised goods are transferred to the customer, typically when products, which have been determined to be the only distinct performance obligations, are shipped to the customer. Expected costs of assurance warranties and claims are recognized as expense. Revenue is recognized net of any sales taxes from the sale of the products. Rental revenue is generated through the lease of the Viveve System. The Company’s operating leases for the Viveve System have a rental period of six months and can be extended or terminated by the customer after that time or the Viveve System can be purchased by the customer. Rental revenue on those operating leases is recognized on a straight-line basis over the terms of the underlying leases. The Company began this rental program in the quarter ended June 30, 2019 and the revenue associated with it has not been material to the periods presented. In connection with the lease of the Viveve System, the Company offers single-use treatment tips and ancillary consumables that are considered nonlease components. In the contracts with lease and nonlease components, the Company follows the relevant guidance in ASC 606, Revenue from Contracts with Customers, to determine how to allocate contractual consideration between the lease and nonlease components. 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 provide its customers with a right of return. 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 such assets existed as of June 30, 2019 or December 31, 2018. The Company had customer contracts liabilities in the amount of $552,000, primarily related to marketing programs that performance had not yet been delivered to its customers as of June 30, 2019 and $686,000 as of December 31, 2018. The following table reflects the changes in our customer contract liabilities for the six months ended June 30, 2019: June 30, December 31, Six Months 2019 2018 Change Customer contracts liabilities: Marketing programs $ 552 $ 639 $ (87 ) Other - 47 (47 ) Total $ 552 $ 686 $ (134 ) Separately, accounts receivable, net represents receivables from contracts with customers. Significant Financing Component The Company applies the practical expedient to not make any adjustment for a significant financing component if, at contract inception, the Company does not expect the period between customer payment and transfer of control of the promised goods or services to the customer to exceed one year. During the three and six months ended June 30, 2019 and 2018, the Company did not have any contracts for the sale of its products with its customers with a significant financing component. 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 year or less. During the three and six months ended June 30, 2019 and 2018, the Company expensed the incremental costs of obtaining the contract as an expense when incurred as the amortization period was one year or less. 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. 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 and six months ended June 30, 2019 and 2018 (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 North America $ 663 $ 4,552 $ 2,455 $ 7,158 Asia Pacific 343 630 1,310 1,521 Europe and Middle East 43 329 289 531 Latin America 3 14 10 14 Total $ 1,052 $ 5,525 $ 4,064 $ 9,224 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 control but have the ability to exercise significant influence over the investee. Equity method investments are recorded at original cost and adjusted periodically to recognize ( 1 ) the proportionate share of the investees’ net income or losses after the date of investment, ( 2 ) additional contributions made and dividends or distributions received, and ( 3 ) impairment losses resulting from adjustments to net realizable value. The Company eliminates all intercompany transactions in accounting for equity method investments. The Company records the proportionate share of the investees’ net income or losses in equity in earnings of unconsolidated affiliates on the condensed consolidated statements of operations. The Company utilizes a three -month lag in reporting equity income from its investments, adjusted for known amounts and events, when the investee’s financial information is not available timely or when the investee’s reporting period differs from our reporting period. 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 is reviewed annually for changes in circumstances or the occurrence of events that suggest the investment may not be recoverable. No impairment charges have been recorded in the condensed consolidated statements of operations during the three and six months ended June 30, 2019 and 2018. Product Warranty The Company’s products are generally subject to warranties between one and three years, which provides for the repair, rework or replacement of products (at the Company’s option) that fail to perform within stated specifications. The Company has assessed the historical claims and, to date, product warranty claims have not been significant. 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. The Company 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 include certain changes in equity that are excluded from net loss. For the three months and six months ended June 30, 2019 and 2018, the Company’s comprehensive loss is the same as its net loss. 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 assumed to have been issued if their effect is anti-dilutive. 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, 2019 2018 Stock options to purchase common stock 5,314,375 4,209,355 Warrants to purchase common stock 642,622 642,622 Restricted common stock awards 393,051 66,250 Other Recently Issued and Adopted Accounting Standards In June 2018, the FASB issued ASU 2018 - 07, “Stock Compensation (Topic 718 ) – Improvements to Nonemployee Share- Based Payment Accounting”. The intent of this guidance is to simplify the accounting for nonemployee share-based payment accounting. The amendments in this guidance expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Consistent with the accounting requirement for employee share-based payment awards, nonemployee share-based payment awards within the scope of Topic 718 are measured at grant-date fair value of the equity instruments that an entity is obligated to issue when the good has been delivered or the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. Equity- classified nonemployee share-based payment awards are measured at the grant date. Consistent with the accounting for employee share-based payment awards, an entity considers the probability of satisfying performance conditions when nonemployee share-based payment awards contain such conditions. This guidance is effective for annual reporting periods beginning after December 15, 2018, including interim periods within the reporting period. We adopted this guidance as of January 1, 2019 and the adoption of the guidance did not have a significant impact on the condensed consolidated financial statements. We have reviewed other recent accounting pronouncements and concluded they are either not applicable to the business, or no material effect is expected on the consolidated financial statements as a result of future adoption. |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
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, 2019 December 31, 2018. 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, 2019, December 31, 2018 There were no |
Note 4 - Investment in Limited
Note 4 - Investment in Limited Liability Company | 6 Months Ended |
Jun. 30, 2019 | |
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, 2019, 4,800 $27,000 three six June 30, 2019. no June 30, 2019 December 31, 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, 2019, 7% three three six June 30, 2019, $138,000 $263,000, In February 2019, no |
Note 5 - Accrued Liabilities
Note 5 - Accrued Liabilities | 6 Months Ended |
Jun. 30, 2019 | |
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, 2019 December 31, 2018 ( June 30, December 31, 2019 2018 Accrued sales commission $ 723 $ 1,743 Accrued interest 689 683 Accrued bonuses 607 837 Accrued professional fees 635 978 Accrued payroll and other related expenses 632 877 Customer contracts liabilities 552 686 Deferred revenue - systems rental program 398 - Accrued clinical trial costs 346 84 Current operating lease liabilities 248 - Travel and entertainment 123 280 Accrued sales & use tax 39 259 Other accruals 286 339 Total accrued liabilities $ 5,278 $ 6,766 |
Note 6 - Note Payable
Note 6 - Note Payable | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. Note Payable 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, 2019, $324,000 $642,000, three six June 30, 2018, $311,000 $616,000, 5.0% June 30, 2019, $663,000 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, 2019, As of June 30, 2019 December 31, 2018, $31,271,000 $30,528,000, 2017 In connection with the 2017 two 10 222,049 $9.50 9 As of June 30, 2019, Year Ending December 31, 2019 (remaining six months) $ 1,414 2020 2,901 2021 16,673 2022 19,306 2023 6,220 Total payments 46,514 Less: Amount representing interest (14,121 ) Present value of obligations 32,393 Less: Unamortized debt discount (1,122 ) Note payable, noncurrent portion $ 31,271 |
Note 7 - Leases
Note 7 - Leases | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 7. Leases Lessee: The following information pertains to those operating lease agreements where the Company is the lessee. 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 six June 30, 2018 $90,000 $228,000. In September 2018, 36 September 20, 2018. $3,000. After the adoption of ASU 842 January 1, 2019, 12 not The following table reflects the Company's lease assets and lease liabilities at June 30, 2019 January 1, 2019 ( June 30, January 1, 2019 2019 Assets: Operating lease right-of-use assets $ 515 $ 629 Liabilities: Current operating lease liabilities $ 248 $ 230 Noncurrent operating lease liabilities 272 399 $ 520 $ 629 The operating lease right-of-use assets are included in other assets on the condensed consolidated balance sheet. The operating lease liabilities are included in accrued liabilities and other noncurrent liabilities on the condensed consolidated balance sheet. The operating leases expense for the three six June 30, 2019 $75,000 $150,000, As of June 30, 2019, Year Ending December 31, 2019 (remaining six months) $ 149 2020 303 2021 137 Total lease payments 589 Less: Amount representing interest (69 ) Present value of lease liabilities $ 520 The weighted average remaining lease term was approximately 23 June 30, 2019. three six June 30, 2019 12.5%. Lessor: The following information pertains to those operating lease agreements where the Company is the lessor. As of June 30, 2019, Year Ending December 31, 2019 (remaining six months) $ 339 2020 68 Thereafter - Total $ 407 As of June 30, 2019, $350,000 three six June 30, 2019 $ 6,000, |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 8. Commitments and Contingencies 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 |
Note 9 - Common Stock
Note 9 - Common Stock | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 9. Common Stock March 2019, 27,473 $0.91 $25,000. In December 2018, December 2018 14,728,504 $1.50 $22,093,000. $20,385,000. In June 2018, 100,000 $2.56 $256,000. In February 2018, February 2018 11,500,000 $3.00 $34,500,000. $32,214,000. Through the November 2017 may $25,000,000 three six June 30, 2019, zero November 2017 three six June 30, 2018, 65,252 273,529 November 2017 $172,000 $1,183,000. June 30, 2019, 336,498 November 2017 $1,318,000. Warrants for Common Stock As of June 30, 2019, 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 2017 222,049, $9.50 ten $940,000 0%, 55.1%, 2.25% ten $790,000, three six June 30, 2019, $119,000 $202,000, three six June 30, 2018, $83,000 $160,000, No three six June 30, 2019 2018. No three six June 30, 2019 2018. |
Note 10 - Summary of Stock Opti
Note 10 - Summary of Stock Options | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 10. 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, 2019, 2006 10,434 no $10.05 3.59 As of June 30, 2019, 2013 5,303,941 904,651 $3.00 8.64 In January 2019, 2019 2013 2,043,142 4,914,016 6,957,158 January 1, 2019. Activity under the 2006 2013 Six Months Ended June 30, 2019 Weighted Weighted Average Number Average Remaining Aggregate of Exercise Contractual Intrinsic Shares Price Term (years) Value Options outstanding, beginning of period 4,014,475 $ 4.56 7.4 $ - Options granted 2,335,000 $ 1.18 Options exercised - Options canceled (1,035,100 ) $ 4.94 Options outstanding, end of period 5,314,375 $ 3.00 8.6 $ - Vested and exercisable and expected to vest, end of period 5,054,030 $ 3.04 8.6 $ - Vested and exercisable, end of period 1,790,963 $ 4.26 7.6 $ - 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, 2019. The options outstanding and exercisable as of June 30, 2019 Weighted Number Weighted Average Number Weighted Outstanding Average Remaining Exercisable Average Range of as of Exercise Contractual as of Exercise Exercise Prices June 30, 2019 Price Term (Years) June 30, 2019 Price $0.38 - $0.58 190,000 $ 0.53 9.93 - $ - $1.00 - $1.97 2,643,195 $ 1.38 9.42 485,265 $ 1.52 $2.02 - $2.83 85,000 $ 2.48 8.62 20,520 $ 2.65 $3.03 - $3.82 474,376 $ 3.55 8.55 175,002 $ 3.65 $4.30 - $4.97 920,023 $ 4.52 8.11 409,403 $ 4.55 $5.01 - $5.67 510,696 $ 5.37 7.11 317,831 $ 5.37 $6.00 - $6.61 242,627 $ 6.03 6.29 209,608 $ 6.01 $7.00 - $7.92 238,024 $ 7.70 7.04 162,900 $ 7.71 $9.92 - $9.92 10,424 $ 9.92 3.60 10,424 $ 9.92 $59.60 - $149.04 10 $ 149.04 2.31 10 $ 149.04 Total: 5,314,375 $ 3.00 8.64 1,790,963 $ 4.26 Restricted Stock Awards (‘RSA”) In June 2019, 25,000 June 2018. In April 2019, 52,791 2013 $0.91 52,791 In January 2019, 364,072 2013 2018 2018 50% 50% 2,271 three six June 30, 2019. June 30, 2019, zero As of June 30, 2019, 393,051 2017 The seventh 2017 “2017 April 1, 2019 June 30, 2019, 60,740 June 28, 2019 $0.32. The sixth 2017 “2017 January 1, 2019 March 31, 2019, 43,759 March 29, 2019 $0.80. As of June 30, 2019, 2017 151,820 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, June 30, 2019 2018 2019 2018 Expected term (in years) 0.25 0.25 0.25 0.25 Average volatility 87 % 74 % 81 % 67 % Risk-free interest rate 2.43 % 1.73 % 2.44 % 1.58 % Dividend yield 0 % 0 % 0 % 0 % The weighted average grant date fair value of the purchase rights issued under the 2017 three six June 30, 2019 $0.95 $0.68, three six June 30, 2018 $0.95 $1.11, Stock-Based Compensation During the three June 30, 2019 2018, 190,000 570,000 $0.33 $1.34 six June 30, 2019 2018, 2,307,500 1,821,171 $1.18 $2.32 no three six June 30, 2019 2018. 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, 2019 2018 2019 2018 Expected term (in years) 5 5 5 5 Average volatility 75 % 69 % 73 % 75 % Risk-free interest rate 2.03 % 2.82 % 2.49 % 2.63 % Dividend yield 0 % 0 % 0 % 0 % During the three six June 30, 2019, 27,500 $1.22 three six June 30, 2018, 200,000 202,388 $1.59 $1.61 no three six June 30, 2019 2018. 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, 2019 2018 2019 2018 Expected term (in years) N/A 10 5 10 Average volatility N/A 91 % 73 % 91 % Risk-free interest rate N/A 2.85 % 2.49 % 2.85 % Dividend yield N/A 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, 2019 2018 Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Cost of revenue $ 34 $ 17 $ 66 $ 28 Research and development 53 65 93 187 Selling, general and administrative 534 693 958 1,314 Total $ 621 $ 775 $ 1,117 $ 1,529 As of June 30, 2019, $4,143,620. 2.38 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. 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, 2019. 2019 0%. |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 12. Related Party Transactions In June 2006, October 4, 2007. 300 June 30, 2019, 845 37,500 $1,820,000 $2,325,000 three June 30, 2019 2018, $3,132,000 $5,598,000 six June 30, 2019 2018, June 30, 2019 December 31, 2018 $465,000 $960,000, |
Note 13 - Restructuring Costs
Note 13 - Restructuring Costs | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 13. Restructuring Costs In January 2019, 40 $742,000 June 30, 2019, $24,000 September 30, 2019. first 2019 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
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 accounting standard for leases, the Company has consistently applied the accounting policies to all periods presented in these condensed consolidated financial statements. Adoption of New Accounting Standard - Leases The Company adopted FASB’s Accounting Standards Update (“ASU”) No. 2016 02, 842 January 1, 2019, $629,000 $629,000, January 1, 2019. not not The effect of the changes made to our consolidated January 1, 2019 Adjustments Due to December 31, Adoption of January 1, 2018 ASC 842 2019 Other assets $ 171 $ 629 (1) $ 800 Total assets $ 46,834 $ 629 (1) $ 47,463 Accrued liabilities $ 6,766 $ 230 (2) $ 6,996 Total current liabilities $ 10,760 $ 230 (2) $ 10,990 Other noncurrent liabilities $ 634 $ 399 (2) $ 1,033 Total liabilities $ 41,922 $ 629 (2) $ 42,551 Total liabilities and stockholders' equity $ 46,834 $ 629 (2) $ 47,463 ( 1 Represents capitalization of operating lease right-of-use assets and reclassification of deferred rent. ( 2 Represents recognition of operating lease liabilities. |
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 Most of 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, 2019, three 55% three June 30, 2018, one 13% six June 30, 2019, two 32 six June 30, 2018, one 23% There were no 10% three six June 30, 2019 2018. As of June 30, 2019, four 64% December 31, 2018, three 54% |
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 $469,000 June 30, 2019 $284,000 December 31, 2018. |
Revenue [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 Rental revenue is generated through the lease of the Viveve System. The Company’s operating leases for the Viveve System have a rental period of six June 30, 2019 not In connection with the lease of the Viveve System, the Company offers single-use treatment tips and ancillary consumables that are considered nonlease components. In the contracts with lease and nonlease components, the Company follows the relevant guidance in ASC 606, 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, 2019 December 31, 2018. $552,000, not June 30, 2019 $686,000 December 31, 2018. The following table reflects the changes in our customer contract liabilities for the six June 30, 2019: June 30, December 31, Six Months 2019 2018 Change Customer contracts liabilities: Marketing programs $ 552 $ 639 $ (87 ) Other - 47 (47 ) Total $ 552 $ 686 $ (134 ) Separately, accounts receivable, net represents receivables from contracts with customers. Significant Financing Component The Company applies the practical expedient to not not one three six June 30, 2019 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, 2019 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. 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, 2019 2018 Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 North America $ 663 $ 4,552 $ 2,455 $ 7,158 Asia Pacific 343 630 1,310 1,521 Europe and Middle East 43 329 289 531 Latin America 3 14 10 14 Total $ 1,052 $ 5,525 $ 4,064 $ 9,224 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 is reviewed annually for changes in circumstances or the occurrence of events that suggest the investment may not No three six June 30, 2019 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 Payment Arrangement [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. The Company 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, 2019 2018, |
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, 2019 2018 Stock options to purchase common stock 5,314,375 4,209,355 Warrants to purchase common stock 642,622 642,622 Restricted common stock awards 393,051 66,250 |
New Accounting Pronouncements, Policy [Policy Text Block] | Other Recently Issued and Adopted Accounting Standards In June 2018, 2018 07, 718 718 718 December 15, 2018, January 1, 2019 not We have reviewed other recent accounting pronouncements and concluded they are either not no |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Cumulative Effect of Adjustments for New Accounting Pronouncements on Balance Sheet [Table Text Block] | Adjustments Due to December 31, Adoption of January 1, 2018 ASC 842 2019 Other assets $ 171 $ 629 (1) $ 800 Total assets $ 46,834 $ 629 (1) $ 47,463 Accrued liabilities $ 6,766 $ 230 (2) $ 6,996 Total current liabilities $ 10,760 $ 230 (2) $ 10,990 Other noncurrent liabilities $ 634 $ 399 (2) $ 1,033 Total liabilities $ 41,922 $ 629 (2) $ 42,551 Total liabilities and stockholders' equity $ 46,834 $ 629 (2) $ 47,463 |
Contract with Customer, Asset and Liability [Table Text Block] | June 30, December 31, Six Months 2019 2018 Change Customer contracts liabilities: Marketing programs $ 552 $ 639 $ (87 ) Other - 47 (47 ) Total $ 552 $ 686 $ (134 ) |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 North America $ 663 $ 4,552 $ 2,455 $ 7,158 Asia Pacific 343 630 1,310 1,521 Europe and Middle East 43 329 289 531 Latin America 3 14 10 14 Total $ 1,052 $ 5,525 $ 4,064 $ 9,224 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Six Months Ended June 30, 2019 2018 Stock options to purchase common stock 5,314,375 4,209,355 Warrants to purchase common stock 642,622 642,622 Restricted common stock awards 393,051 66,250 |
Note 5 - Accrued Liabilities (T
Note 5 - Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, 2019 2018 Accrued sales commission $ 723 $ 1,743 Accrued interest 689 683 Accrued bonuses 607 837 Accrued professional fees 635 978 Accrued payroll and other related expenses 632 877 Customer contracts liabilities 552 686 Deferred revenue - systems rental program 398 - Accrued clinical trial costs 346 84 Current operating lease liabilities 248 - Travel and entertainment 123 280 Accrued sales & use tax 39 259 Other accruals 286 339 Total accrued liabilities $ 5,278 $ 6,766 |
Note 6 - Note Payable (Tables)
Note 6 - Note Payable (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Year Ending December 31, 2019 (remaining six months) $ 1,414 2020 2,901 2021 16,673 2022 19,306 2023 6,220 Total payments 46,514 Less: Amount representing interest (14,121 ) Present value of obligations 32,393 Less: Unamortized debt discount (1,122 ) Note payable, noncurrent portion $ 31,271 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Lessee, Lease Assets and Liabilities [Table Text Block] | June 30, January 1, 2019 2019 Assets: Operating lease right-of-use assets $ 515 $ 629 Liabilities: Current operating lease liabilities $ 248 $ 230 Noncurrent operating lease liabilities 272 399 $ 520 $ 629 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending December 31, 2019 (remaining six months) $ 149 2020 303 2021 137 Total lease payments 589 Less: Amount representing interest (69 ) Present value of lease liabilities $ 520 |
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | Year Ending December 31, 2019 (remaining six months) $ 339 2020 68 Thereafter - Total $ 407 |
Note 9 - Common Stock (Tables)
Note 9 - Common Stock (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 10 - Summary of Stock Op_2
Note 10 - Summary of Stock Options (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Six Months Ended June 30, 2019 Weighted Weighted Average Number Average Remaining Aggregate of Exercise Contractual Intrinsic Shares Price Term (years) Value Options outstanding, beginning of period 4,014,475 $ 4.56 7.4 $ - Options granted 2,335,000 $ 1.18 Options exercised - Options canceled (1,035,100 ) $ 4.94 Options outstanding, end of period 5,314,375 $ 3.00 8.6 $ - Vested and exercisable and expected to vest, end of period 5,054,030 $ 3.04 8.6 $ - Vested and exercisable, end of period 1,790,963 $ 4.26 7.6 $ - |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Weighted Number Weighted Average Number Weighted Outstanding Average Remaining Exercisable Average Range of as of Exercise Contractual as of Exercise Exercise Prices June 30, 2019 Price Term (Years) June 30, 2019 Price $0.38 - $0.58 190,000 $ 0.53 9.93 - $ - $1.00 - $1.97 2,643,195 $ 1.38 9.42 485,265 $ 1.52 $2.02 - $2.83 85,000 $ 2.48 8.62 20,520 $ 2.65 $3.03 - $3.82 474,376 $ 3.55 8.55 175,002 $ 3.65 $4.30 - $4.97 920,023 $ 4.52 8.11 409,403 $ 4.55 $5.01 - $5.67 510,696 $ 5.37 7.11 317,831 $ 5.37 $6.00 - $6.61 242,627 $ 6.03 6.29 209,608 $ 6.01 $7.00 - $7.92 238,024 $ 7.70 7.04 162,900 $ 7.71 $9.92 - $9.92 10,424 $ 9.92 3.60 10,424 $ 9.92 $59.60 - $149.04 10 $ 149.04 2.31 10 $ 149.04 Total: 5,314,375 $ 3.00 8.64 1,790,963 $ 4.26 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Expected term (in years) 5 5 5 5 Average volatility 75 % 69 % 73 % 75 % Risk-free interest rate 2.03 % 2.82 % 2.49 % 2.63 % Dividend yield 0 % 0 % 0 % 0 % Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Expected term (in years) N/A 10 5 10 Average volatility N/A 91 % 73 % 91 % Risk-free interest rate N/A 2.85 % 2.49 % 2.85 % Dividend yield N/A 0 % 0 % 0 % |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Cost of revenue $ 34 $ 17 $ 66 $ 28 Research and development 53 65 93 187 Selling, general and administrative 534 693 958 1,314 Total $ 621 $ 775 $ 1,117 $ 1,529 |
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, June 30, 2019 2018 2019 2018 Expected term (in years) 0.25 0.25 0.25 0.25 Average volatility 87 % 74 % 81 % 67 % Risk-free interest rate 2.43 % 1.73 % 2.44 % 1.58 % Dividend yield 0 % 0 % 0 % 0 % |
Note 1 - The Company and Basi_2
Note 1 - The Company and Basis of Presentation (Details Textual) - USD ($) | Feb. 12, 2018 | Nov. 08, 2017 | Dec. 31, 2018 | Feb. 28, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 08, 2018 | Dec. 31, 2017 | |
Shares Issued, Price Per Share | $ 0.91 | $ 2.56 | |||||||||||
Proceeds from Issuance of Common Stock | $ 33,396,000 | ||||||||||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (155,385,000) | [1] | $ (175,138,000) | (175,138,000) | $ (175,138,000) | ||||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 29,523,000 | [1] | 9,506,000 | $ 30,213,000 | 9,506,000 | 30,213,000 | 9,506,000 | $ 20,730,000 | |||||
Working Capital | 13,660,000 | 13,660,000 | $ 13,660,000 | ||||||||||
Net Cash Provided by (Used in) Operating Activities, Total | $ (7,696,000) | $ (19,254,000) | $ (23,234,000) | ||||||||||
December 2018 Offering [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 14,728,504 | ||||||||||||
Shares Issued, Price Per Share | $ 1.50 | ||||||||||||
Proceeds from Issuance of Common Stock | $ 22,093,000 | ||||||||||||
Proceeds From Issuance of Common Stock, Net | $ 20,385,000 | ||||||||||||
February 2018 Offering [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 11,500,000 | 11,500,000 | |||||||||||
Shares Issued, Price Per Share | $ 3 | $ 3 | |||||||||||
Proceeds from Issuance of Common Stock | $ 34,500,000 | $ 34,500,000 | |||||||||||
Proceeds From Issuance of Common Stock, Net | $ 32,214,000 | $ 32,214,000 | |||||||||||
November 2017 ATM Facility [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 0 | 65,252 | 0 | 273,529 | 336,498 | ||||||||
Proceeds From Issuance of Common Stock, Net | $ 172,000 | $ 1,183,000 | $ 1,318,000 | ||||||||||
Aggregate Offering Price | $ 25,000,000 | ||||||||||||
[1] | The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date. |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) | Jan. 01, 2019USD ($) | |
Operating Lease, Right-of-Use Asset | $ 515,000 | $ 515,000 | $ 629,000 | |||
Operating Lease, Liability, Total | $ 520,000 | $ 520,000 | $ 629,000 | |||
Number of Financial Institutions | 1 | 1 | ||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 469,000 | $ 469,000 | $ 284,000 | |||
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 0 | 0 | 0 | |||
Contract with Customer, Liability, Total | 552,000 | 552,000 | $ 686,000 | |||
Equity Method Investment, Other than Temporary Impairment | $ 0 | $ 0 | $ 0 | $ 0 | ||
Minimum [Member] | ||||||
Warranty Period | 1 year | |||||
Maximum [Member] | ||||||
Warranty Period | 3 years | |||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||||
Concentration Risk, Number of Customers | 3 | 1 | 2 | 1 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Three Customers [Member] | ||||||
Concentration Risk, Percentage | 55.00% | |||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member] | ||||||
Concentration Risk, Percentage | 13.00% | 23.00% | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customers [Member] | ||||||
Concentration Risk, Percentage | 32.00% | |||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Concentration Risk, Number of Customers | 4 | 3 | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Customers [Member] | ||||||
Concentration Risk, Percentage | 54.00% | |||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Four Customers [Member] | ||||||
Concentration Risk, Percentage | 64.00% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Cumulative Effect of Adjustments for New Accounting Pronouncements on Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | [1] | |
Other assets | $ 646 | $ 800 | $ 171 | ||
Total assets | 25,496 | 47,463 | 46,834 | ||
Accrued liabilities | 5,278 | 6,996 | 6,766 | ||
Total current liabilities | 6,884 | 10,990 | 10,760 | ||
Other noncurrent liabilities | 1,010 | 1,033 | 634 | ||
Total liabilities | 39,165 | 42,551 | 41,922 | ||
Total liabilities and stockholders' equity | $ 25,496 | 47,463 | $ 46,834 | ||
Accounting Standards Update 2016-02 [Member] | |||||
Other assets | [2] | 629 | |||
Total assets | [2] | 629 | |||
Accrued liabilities | [3] | 230 | |||
Total current liabilities | [3] | 230 | |||
Other noncurrent liabilities | [3] | 399 | |||
Total liabilities | [3] | 629 | |||
Total liabilities and stockholders' equity | [3] | $ 629 | |||
[1] | The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date. | ||||
[2] | Represents capitalization of operating lease right-of-use assets and reclassification of deferred rent. | ||||
[3] | Represents recognition of operating lease liabilities. |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Customer Contract Liabilities (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Customer contract liabilities | $ 552,000 | $ 686,000 |
Change in customer contract liabilities | (134,000) | |
Marketing Programs [Member] | ||
Customer contract liabilities | 552,000 | 639,000 |
Change in customer contract liabilities | (87,000) | |
Product and Service, Other [Member] | ||
Customer contract liabilities | $ 47,000 | |
Change in customer contract liabilities | $ (47,000) |
Note 2 - Summary of Significa_6
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, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenue | $ 1,052 | $ 5,525 | $ 4,064 | $ 9,224 |
North America [Member] | ||||
Revenue | 663 | 4,552 | 2,455 | 7,158 |
Asia Pacific [Member] | ||||
Revenue | 343 | 630 | 1,310 | 1,521 |
Europe And Middle East [Member] | ||||
Revenue | 43 | 329 | 289 | 531 |
Latin America [Member] | ||||
Revenue | $ 3 | $ 14 | $ 10 | $ 14 |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies - Antidilutive Securities (Details) - shares | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 5,314,375 | 4,209,355 |
Common Stock Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 642,622 | 642,622 |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 393,051 | 66,250 |
Note 4 - Investment in Limite_2
Note 4 - Investment in Limited Liability Company (Details Textual) | Aug. 08, 2017USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) |
Income (Loss) from Equity Method Investments, Total | $ (138,000) | $ (158,000) | $ (263,000) | $ (407,000) | ||
Membership Unit Subscription Agreement [Member] | InControl Medical [Member] | ||||||
Accounts Payable, Related Parties, Current | $ 0 | $ 0 | $ 0 | |||
InControl Medical [Member] | ||||||
Equity Method Investment, Ownership Percentage | 7.00% | 7.00% | ||||
Income (Loss) from Equity Method Investments, Total | $ (138,000) | $ (263,000) | ||||
InControl Medical [Member] | Membership Unit Subscription Agreement [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Period Quantity Purchased | 4,800 | |||||
Payments for Purchase of Products | $ 27,000 | $ 27,000 | ||||
Payments to Acquire Equity Method Investments | $ 2,500,000 |
Note 5 - Accrued Liabilities -
Note 5 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Accrued sales commission | $ 723 | $ 1,743 | ||
Accrued interest | 689 | 683 | ||
Accrued bonuses | 607 | 837 | ||
Accrued professional fees | 635 | 978 | ||
Accrued payroll and other related expenses | 632 | 877 | ||
Customer contracts liabilities | 552 | 686 | ||
Deferred revenue - systems rental program | 398 | |||
Accrued clinical trial costs | 346 | 84 | ||
Current operating lease liabilities | 248 | $ 230 | ||
Travel and entertainment | 123 | 280 | ||
Accrued sales & use tax | 39 | 259 | ||
Other accruals | 286 | 339 | ||
Total accrued liabilities | $ 5,278 | $ 6,996 | $ 6,766 | [1] |
[1] | The condensed consolidated balance sheet as of December 31, 2018 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 ($) | Dec. 29, 2017 | May 22, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Interest Payable | $ 14,121,000 | $ 14,121,000 | ||||||
Notes Payable, Noncurrent, Total | $ 31,271,000 | $ 31,271,000 | $ 30,528,000 | [1] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 642,622 | 642,622 | ||||||
May 2017 Issuance Related to 2017 Loan Agreement [Member] | ||||||||
Warrants and Rights Outstanding, Term | 10 years | |||||||
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 | |||||
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 | |||||||
Proceeds from Lines of Credit, Total | $ 10,000,000 | |||||||
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 | $ 324,000 | $ 311,000 | $ 642,000 | $ 616,000 | ||||
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 | |||||||
Notes Payable, Noncurrent, Total | 31,271,000 | 31,271,000 | $ 30,528,000 | |||||
The 2017 Loan Agreement [Member] | CRG LP [Member] | Other Noncurrent Liabilities [Member] | ||||||||
Interest Payable | $ 663,000 | $ 663,000 | ||||||
[1] | The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date. |
Note 6 - Note Payable - Summary
Note 6 - Note Payable - Summary of Note Payable (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | [1] |
2019 (remaining six months) | $ 1,414 | ||
2020 | 2,901 | ||
2021 | 16,673 | ||
2022 | 19,306 | ||
2023 | 6,220 | ||
Total payments | 46,514 | ||
Less: Amount representing interest | (14,121) | ||
Present value of obligations | 32,393 | ||
Less: Unamortized debt discount | (1,122) | ||
Note payable, noncurrent portion | $ 31,271 | $ 30,528 | |
[1] | The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date. |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Feb. 01, 2017USD ($)ft² | |
Operating Leases, Rent Expense, Total | $ 90,000 | $ 228,000 | ||||
Operating Lease, Cost | $ 75,000 | $ 150,000 | ||||
Operating Lease, Weighted Average Remaining Lease Term | 1 year 330 days | 1 year 330 days | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 12.50% | 12.50% | ||||
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 | 20.5 | |||||
Operating Leases, Monthly Rent Per Rentable Square Foot During Second Year | 21.12 | |||||
Operating Leases, Monthly Rent Per Rentable Square Foot During Third Year | 21.75 | |||||
Security Deposit | $ 22,000 | |||||
Operating Leases, Allowance for Certain Improvements | $ 88,000 | |||||
Noncancelable Operating Lease Agreement for Office Equipment [Member] | ||||||
Lessee, Operating Lease, Term of Contract | 3 years | |||||
Operating Leases, Monthly Payment | $ 3,000 | |||||
Leases of Viveve Systems [Member] | ||||||
Operating Lease, Property Plant and Equipment, Amount | $ 350,000 | $ 350,000 | ||||
Lessor, Operating Lease, Depreciation on Leased Assets | $ 6,000 | $ 6,000 |
Note 7 - Leases - Lease Assets
Note 7 - Leases - Lease Assets and Liabilities (Details) - USD ($) | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Right-of-Use Asset | $ 515,000 | $ 629,000 | |
Current operating lease liabilities | 248,000 | 230,000 | |
Noncurrent operating lease liabilities | 272,000 | 399,000 | |
$ 520,000 | $ 629,000 |
Note 7 - Leases - Maturity of O
Note 7 - Leases - Maturity of Operating Lease Liabilities (Details) - USD ($) | Jun. 30, 2019 | Jan. 01, 2019 |
2019 (remaining six months) | $ 149,000 | |
2020 | 303,000 | |
2021 | 137,000 | |
Total lease payments | 589,000 | |
Less: Amount representing interest | (69,000) | |
Present value of lease liabilities | $ 520,000 | $ 629,000 |
Note 7 - Leases - Minimum Futur
Note 7 - Leases - Minimum Future Rentals (Details) $ in Thousands | Jun. 30, 2019USD ($) |
2019 (remaining six months) | $ 339 |
2020 | 68 |
Thereafter | |
Total | $ 407 |
Note 9 - Common Stock (Details
Note 9 - Common Stock (Details Textual) | Jun. 08, 2018USD ($)$ / sharesshares | Feb. 12, 2018USD ($)$ / sharesshares | Nov. 08, 2017USD ($) | Mar. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Feb. 28, 2018USD ($)$ / sharesshares | Jun. 30, 2019USD ($)$ / sharesshares | Jun. 30, 2018USD ($)shares | Mar. 31, 2018USD ($) | Jun. 30, 2019USD ($)$ / sharesshares | Jun. 30, 2018USD ($)shares | Jun. 30, 2019USD ($)$ / sharesshares | May 22, 2017USD ($)yr$ / sharesshares |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | shares | 100,000 | 27,473 | |||||||||||
Shares Issued, Price Per Share | $ / shares | $ 2.56 | $ 0.91 | |||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 256,000 | $ 25,000 | $ 67,000 | $ 108,000 | |||||||||
Proceeds from Issuance of Common Stock | $ 33,396,000 | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 642,622 | 642,622 | 642,622 | ||||||||||
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 | |||||||||
The 2017 Loan Agreement [Member] | |||||||||||||
Debt Issuance Costs, Net, Total | $ 790,000 | $ 790,000 | $ 790,000 | ||||||||||
Amortization of Debt Discount (Premium) | $ 119,000 | $ 83,000 | $ 202,000 | $ 160,000 | |||||||||
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 | 222,049 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 9.50 | $ 9.50 | $ 9.50 | $ 9.50 | |||||||||
Warrants and Rights Outstanding, Term | 10 years | ||||||||||||
Warrants and Rights Outstanding | $ 940,000 | ||||||||||||
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 | ||||||||||||
December 2018 Offering [Member] | |||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 1.50 | ||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 14,728,504 | ||||||||||||
Proceeds from Issuance of Common Stock | $ 22,093,000 | ||||||||||||
Proceeds From Issuance of Common Stock, Net | $ 20,385,000 | ||||||||||||
February 2018 Offering [Member] | |||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 3 | $ 3 | |||||||||||
Stock Issued During Period, Shares, New Issues | shares | 11,500,000 | 11,500,000 | |||||||||||
Proceeds from Issuance of Common Stock | $ 34,500,000 | $ 34,500,000 | |||||||||||
Proceeds From Issuance of Common Stock, Net | $ 32,214,000 | $ 32,214,000 | |||||||||||
November 2017 ATM Facility [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 0 | 65,252 | 0 | 273,529 | 336,498 | ||||||||
Proceeds From Issuance of Common Stock, Net | $ 172,000 | $ 1,183,000 | $ 1,318,000 | ||||||||||
Aggregate Offering Price | $ 25,000,000 |
Note 9 - Common Stock - Summary
Note 9 - Common Stock - Summary of Outstanding Warrants (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2019 | May 22, 2017 | |
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 | |
Shares Outstanding Under Warrants (in shares) | 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 10 - Summary of Stock Op_3
Note 10 - Summary of Stock Options (Details Textual) - USD ($) | Jun. 28, 2019 | Mar. 29, 2019 | Jan. 01, 2019 | Jun. 08, 2018 | Jun. 30, 2019 | Apr. 30, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 5,314,375 | 5,314,375 | 5,314,375 | 4,014,475 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 3 | $ 3 | $ 3 | $ 4.56 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 219 days | 7 years 146 days | |||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 100,000 | 27,473 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 393,051 | 393,051 | 393,051 | ||||||||||
Shares Issued, Price Per Share | $ 2.56 | $ 0.91 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,335,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% | |||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 4,143,620 | $ 4,143,620 | $ 4,143,620 | ||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 138 days | ||||||||||||
Consultant [Member] | |||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 25,000 | ||||||||||||
Director [Member] | |||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 52,791 | ||||||||||||
Director [Member] | Restricted Stock [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.91 | ||||||||||||
Nonemployees [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | ||||||||||
The 2006 Stock Option Plan [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 10,434 | 10,434 | 10,434 | ||||||||||
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 | $ 10.05 | $ 10.05 | $ 10.05 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 215 days | ||||||||||||
The 2013 Plan [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 5,303,941 | 5,303,941 | 5,303,941 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 3 | $ 3 | $ 3 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 233 days | ||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 904,651 | 904,651 | 904,651 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 2,043,142 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 6,957,158 | 4,914,016 | |||||||||||
The 2013 Plan [Member] | Restricted Stock [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 364,072 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 2,271 | 2,271 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 0 | ||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total | 0 | ||||||||||||
The 2013 Plan [Member] | Employees [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 190,000 | 570,000 | 2,307,500 | 1,821,171 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.33 | $ 1.34 | $ 1.18 | $ 2.32 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | 0 | |||||||||
The 2013 Plan [Member] | Nonemployees [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 27,500 | 200,000 | 27,500 | 202,388 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.22 | $ 1.59 | $ 1.22 | $ 1.61 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | 0 | |||||||||
2017 Employee Stock Purchase Plan [Member] | |||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 60,740 | 43,759 | |||||||||||
Shares Issued, Price Per Share | $ 0.32 | $ 0.80 | |||||||||||
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 151,820 | 151,820 | 151,820 | ||||||||||
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $ 0.95 | $ 0.95 | $ 0.68 | $ 1.11 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% |
Note 10 - Summary of Stock Op_4
Note 10 - Summary of Stock Options - Summary of Option Activity Under All Plans (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($)$ / sharesshares | Dec. 31, 2018$ / sharesshares | |
Options outstanding (in shares) | shares | 4,014,475 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 4.56 | |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 219 days | 7 years 146 days |
Options granted (in shares) | shares | 2,335,000 | |
Options granted, weighted average exercise price (in dollars per share) | $ / shares | $ 1.18 | |
Options exercised (in shares) | shares | ||
Options exercised, weighted average exercise price (in dollars per share) | $ / shares | ||
Options canceled (in shares) | shares | (1,035,100) | |
Options canceled, weighted average exercise price (in dollars per share) | $ / shares | $ 4.94 | |
Options outstanding (in shares) | shares | 5,314,375 | 4,014,475 |
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 3 | $ 4.56 |
Options outstanding, aggregate intrinsic value | $ | ||
Vested and exercisable and expected to vest, end of period (in shares) | shares | 5,054,030 | |
Vested and exercisable and expected to vest, end of period, weighted average exercise price (in dollars per share) | $ / shares | $ 3.04 | |
Vested and exercisable and expected to vest, end of period, weighted average remaining contractual term (Year) | 8 years 219 days | |
Vested and exercisable and expected to vest, end of period, aggregate intrinsic value | $ | ||
Vested and exercisable, end of period (in shares) | shares | 1,790,963 | |
Vested and exercisable, end of period, weighted average exercise price (in dollars per share) | $ / shares | $ 4.26 | |
Vested and exercisable, end of period, weighted average remaining contractual term (Year) | 7 years 219 days | |
Vested and exercisable, end of period, aggregate intrinsic value | $ |
Note 10 - Summary of Stock Op_5
Note 10 - Summary of Stock Options - Summary of Options Outstanding and Exercisable (Details) | 6 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Options outstanding, number (in shares) | shares | 5,314,375 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 3 |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 233 days |
Options exercisable, number exercisable (in shares) | shares | 1,790,963 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 4.26 |
Range One [Member] | |
Exercise price range, lower limit (in dollars per share) | 0.38 |
Exercise price range, upper limit (in dollars per share) | $ 0.58 |
Options outstanding, number (in shares) | shares | 190,000 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.53 |
Options outstanding, weighted average remaining contractual term (Year) | 9 years 339 days |
Options exercisable, number exercisable (in shares) | shares | |
Options exercisable, weighted average exercise price (in dollars per share) | |
Range Two [Member] | |
Exercise price range, lower limit (in dollars per share) | 1 |
Exercise price range, upper limit (in dollars per share) | $ 1.97 |
Options outstanding, number (in shares) | shares | 2,643,195 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.38 |
Options outstanding, weighted average remaining contractual term (Year) | 9 years 153 days |
Options exercisable, number exercisable (in shares) | shares | 485,265 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.52 |
Range Three [Member] | |
Exercise price range, lower limit (in dollars per share) | 2.02 |
Exercise price range, upper limit (in dollars per share) | $ 2.83 |
Options outstanding, number (in shares) | shares | 85,000 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 2.48 |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 226 days |
Options exercisable, number exercisable (in shares) | shares | 20,520 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 2.65 |
Range Four [Member] | |
Exercise price range, lower limit (in dollars per share) | 3.03 |
Exercise price range, upper limit (in dollars per share) | $ 3.82 |
Options outstanding, number (in shares) | shares | 474,376 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 3.55 |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 200 days |
Options exercisable, number exercisable (in shares) | shares | 175,002 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 3.65 |
Range Five [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 | 920,023 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 4.52 |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 40 days |
Options exercisable, number exercisable (in shares) | shares | 409,403 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 4.55 |
Range Six [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 | 510,696 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 5.37 |
Options outstanding, weighted average remaining contractual term (Year) | 7 years 40 days |
Options exercisable, number exercisable (in shares) | shares | 317,831 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 5.37 |
Range Seven [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 | 242,627 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 6.03 |
Options outstanding, weighted average remaining contractual term (Year) | 6 years 105 days |
Options exercisable, number exercisable (in shares) | shares | 209,608 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 6.01 |
Range Eight [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 | 238,024 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 7.70 |
Options outstanding, weighted average remaining contractual term (Year) | 7 years 14 days |
Options exercisable, number exercisable (in shares) | shares | 162,900 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 7.71 |
Range Nine [Member] | |
Exercise price range, lower limit (in dollars per share) | 9.92 |
Exercise price range, upper limit (in dollars per share) | $ 9.92 |
Options outstanding, number (in shares) | shares | 10,424 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 9.92 |
Options outstanding, weighted average remaining contractual term (Year) | 3 years 219 days |
Options exercisable, number exercisable (in shares) | shares | 10,424 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 9.92 |
Range Ten [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 | 10 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 149.04 |
Options outstanding, weighted average remaining contractual term (Year) | 2 years 113 days |
Options exercisable, number exercisable (in shares) | shares | 10 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 149.04 |
Note 10 - Summary of Stock Op_6
Note 10 - Summary of Stock Options - Valuation Assumption for Employee Stock Purchase Plan (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Expected term (Year) | 5 years | 5 years | 5 years | 5 years |
Average volatility | 75.00% | 69.00% | 73.00% | 75.00% |
Risk-free interest rate | 2.03% | 2.82% | 2.49% | 2.63% |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
2017 Employee Stock Purchase Plan [Member] | ||||
Expected term (Year) | 91 days | 91 days | 91 days | 91 days |
Average volatility | 87.00% | 74.00% | 81.00% | 67.00% |
Risk-free interest rate | 2.43% | 1.73% | 2.44% | 1.58% |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Note 10 - Summary of Stock Op_7
Note 10 - Summary of Stock Options - Valuation Assumptions for Stock Options (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Expected term (Year) | 5 years | 5 years | 5 years | 5 years |
Average volatility | 75.00% | 69.00% | 73.00% | 75.00% |
Risk-free interest rate | 2.03% | 2.82% | 2.49% | 2.63% |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Nonemployees [Member] | ||||
Expected term (Year) | 10 years | 5 years | 10 years | |
Average volatility | 91.00% | 73.00% | 91.00% | |
Risk-free interest rate | 2.85% | 2.49% | 2.85% | |
Dividend yield | 0.00% | 0.00% | 0.00% |
Note 10 - Summary of Stock Op_8
Note 10 - 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, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Stock-based compensation expense | $ 621 | $ 775 | $ 1,117 | $ 1,529 |
Cost of Sales [Member] | ||||
Stock-based compensation expense | 34 | 17 | 66 | 28 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 53 | 65 | 93 | 187 |
Selling, General and Administrative Expenses [Member] | ||||
Stock-based compensation expense | $ 534 | $ 693 | $ 958 | $ 1,314 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | |
Income Tax Expense (Benefit), Total | $ 0 | ||
Effective Income Tax Rate Reconciliation, Percent, Total | 0.00% | 0.00% | |
Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, Percent, Total | 0.00% |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) - Stellartech Research Corporation [Member] - USD ($) | 3 Months Ended | 6 Months Ended | 135 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Stock Issued During Period, Shares, New Issues | 37,500 | ||||
Related Party Transaction, Amounts of Transaction | $ 1,820,000 | $ 2,325,000 | $ 3,132,000 | $ 5,598,000 | |
Accounts Payable, Related Parties, Current | $ 465,000 | $ 465,000 | $ 960,000 |
Note 13 - Restructuring Costs (
Note 13 - Restructuring Costs (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Jan. 31, 2019USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2019USD ($) | |
Restructuring and Related Cost, Number of Positions Eliminated | 40 | |||||
Restructuring Charges, Total | $ 742,000 | $ 742,000 | ||||
Restructuring Reserve, Ending Balance | $ 24,000 |