BioCardia (BCDA) 10-Q 15 May 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
Document Information [Line Items]
Entity Registrant Name	BioCardia, Inc.
Entity Central Index Key	0000925741
Trading Symbol	bcda
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		6,848,355
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock, par value $0.001

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 2,587	$ 5,585
Accounts receivable, net of allowance for doubtful accounts of $2 and $2 at March 31, 2020 and December 31, 2019	179	147
Inventory		4
Prepaid expenses and other current assets	453	642
Total current assets	3,219	6,378
Property and equipment, net	164	181
Operating lease right-of-use asset, net	947	1,065
Other assets	54	54
Total assets	4,384	7,678
Current liabilities:
Accounts payable	1,108	914
Accrued expenses and other current liabilities	2,854	2,561
Operating lease liability - current	548	528
Total current liabilities	4,510	4,003
Operating lease liability - noncurrent	468	614
Deferred revenue	689	691
Total liabilities	5,667	5,308
Stockholders’ equity:
Preferred stock, $0.001 par value, 25,000,000 shares authorized as of March 31, 2020 and December 31, 2019; no shares issued and outstanding as of March 31, 2020 and December 31, 2019
Common stock, $0.001 par value, 100,000,000 shares authorized as of March 31, 2020 and December 31, 2019; 6,848,355 and 6,825,183 shares issued and outstanding as of March 31, 2020 and December 31, 2019	7	7
Additional paid-in capital	104,374	103,433
Accumulated deficit	(105,664)	(101,070)
Total stockholders’ (deficit) equity	(1,283)	2,370
Total liabilities and stockholders’ equity	$ 4,384	$ 7,678

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 2	$ 2
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	6,848,355	6,825,183
Common stock, shares outstanding (in shares)	6,848,355	6,825,183

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue:
Total revenue	$ 38	$ 216
Costs and expenses:
Cost of goods sold	4	106
Research and development	2,786	2,166
Selling, general and administrative	1,857	1,631
Total costs and expenses	4,647	3,903
Operating loss	(4,609)	(3,687)
Other income (expense):
Interest income	16	23
Other expense	(1)	(1)
Total other income (expense), net	15	22
Net loss	$ (4,594)	$ (3,665)
Net loss per share, basic and diluted (in dollars per share)	$ (0.67)	$ (0.86)
Weighted-average shares used in computing net loss per share, basic and diluted (in shares)	6,831,976	4,248,450
Product [Member]
Revenue:
Total revenue	$ 5	$ 76
Collaboration Agreement [Member]
Revenue:
Total revenue	$ 33	$ 140

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Restricted Stock Units (RSUs) [Member]Common Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018		4,845,697
Balance at Dec. 31, 2018		$ 5	$ 90,148	$ (86,361)	$ 3,792
Restricted stock units vested and issued (in shares)	2,268
Share-based compensation			690		690
Net loss				(3,665)	(3,665)
Balance (in shares) at Mar. 31, 2019		4,847,965
Balance at Mar. 31, 2019		$ 5	90,838	(90,026)	817
Balance (in shares) at Dec. 31, 2019		6,825,183
Balance at Dec. 31, 2019		$ 7	103,433	(101,070)	2,370
Restricted stock units vested and issued (in shares)	23,172
Share-based compensation			941		941
Net loss				(4,594)	(4,594)
Balance (in shares) at Mar. 31, 2020		6,848,355
Balance at Mar. 31, 2020		$ 7	$ 104,374	$ (105,664)	$ (1,283)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Net loss	$ (4,594)	$ (3,665)
Adjustments to reconcile net loss to net cash used in operating activities:
Write-off of inventory	3
Depreciation	22	23
Reduction in the carrying amount of right-of-use assets	118	105
Share-based compensation	941	690
Changes in operating assets and liabilities:
Accounts receivable	(32)	(13)
Inventory	1	23
Prepaid expenses and other current assets	189	160
Accounts payable	194	122
Accrued liabilities and other current liabilities	293	(36)
Operating lease liability - current	20
Deferred revenue	(2)
Operating lease liability - noncurrent	(146)	126
Net cash used in operating activities	(2,993)	(2,465)
Investing activities:
Purchase of property and equipment	(5)	(55)
Net cash used provided in investing activities	(5)	(55)
Financing activities:
Net cash provided by financing activities
Net change in cash and cash equivalents	(2,998)	(2,520)
Cash and cash equivalents at beginning of period	5,585	5,358
Cash and cash equivalents at end of period	2,587	2,838
Supplementary disclosure of non-cash activities:
Right-of-use assets obtained in exchange for lease obligations		$ 1,505

Note 1 - Summary of Business an

Note 1 - Summary of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	( 1 Summary of Business and Basis of Presentation (a) Description of Business BioCardia, Inc., (BioCardia or the Company), is a clinical-stage regenerative medicine company developing novel therapeutics for cardiovascular diseases with significant unmet medical needs. The Company’s lead therapeutic candidate is the CardiAMP® cell therapy system and its second BioCardia also has three 1 2 3

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	( 2 Significant Accounting Policies (a) Basis of Preparation The accompanying condensed consolidated balance sheets, statements of operations, shareholders’ equity, and cash flows as of March 31, 2020 three March 31, 2020 2019 March 31, 2020, three March 31, 2020 2019, three March 31, 2020 2019. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s Annual Report on Form 10 December 31, 2019, April 9, 2020. The results for the three March 31, 2020 not December 31, 2020 19, 19, Beginning March 17, 2020, April 6, may may 19 BioCardia’s ability to raise additional funds may 19 (b) Liquidity and Other Risks and Uncertainties Going Concern and Liquidity $105.7 March 31, 2020. $2.6 March 31, 2020 not second 2020. one not The Company’s ability to continue as a going concern and to continue further development of its therapeutic candidates beyond the second 2020, not not may may (c) Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Significant items subject to such estimates and assumptions include share-based compensation, the useful lives of property and equipment, right-of-use assets and related liabilities, incremental borrowing rate, allowances for doubtful accounts and sales returns, derivative instruments, clinical accruals, and inventory valuation. (d) Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany accounts and transactions have been eliminated during the consolidation process. (e) Changes to Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 10 April 9, 2020 December 31, 2019. no ( f ) Recently Issued Accounting Pronouncements Recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force did not not

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurement	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 3 The fair value of financial instruments reflects the amounts that the Company estimates to receive in connection with the sale of an asset or paid in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The Company follows a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three Level 1 Level 2 not Level 3 no The following table sets forth the fair value of its financial assets measured on a recurring basis as of March 31, 2020 December 31, 2019 As of March 31, 2020 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 1,913 $ — $ — $ 1,913 As of December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 4,637 $ — $ — $ 4,637

Note 4 - Inventories

Note 4 - Inventories	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 4 Inventories are stated at the lower of cost or net realizable value using the average cost method. Inventories consisted of the following (in thousands): March 31, December 31, 2020 2019 Finished goods — 4 Total $ — $ 4 Write downs for excess or expired inventory are based on management’s estimates of forecasted usage of inventories and are included in cost of goods sold. A significant change in the timing or level of demand for certain products as compared to forecasted amounts may $3,000 $2,000 three March 31, 2020 2019,

Note 5 - Property and Equipment

Note 5 - Property and Equipment, Net	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 5 Property and equipment, net consisted of the following (in thousands): March 31, December 31, 2020 2019 Computer equipment and software $ 132 $ 132 Laboratory and manufacturing equipment 550 550 Furniture and fixtures 60 55 Leasehold improvements 332 332 Construction in progress 69 69 Property and equipment, gross 1,143 1,138 Less: accumulated depreciation (979 ) (957 ) Property and equipment, net $ 164 $ 181 Depreciation expense totaled approximately $22,000 $23,000 three March 31, 2020 2019,

Note 6 - Operating Lease Right-

Note 6 - Operating Lease Right-of-use Asset, Net	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	( 6 Lease Right-of-Use Asset, Net The Company’s operating lease is a property lease for its laboratory and corporate offices. BioCardia’s lease agreement does not ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company’s lease does not not no The lease expense for the three March 31, 2020 2019 $150,000 $150,000, three March 31, 2020 2019 $158,000 $153,000, March 31, 2020, 1.75 12.05%. Future minimum lease payments under the operating lease as of March 31, 2020 Operating Lease March 31, 2020 Remainder of 2020 $ 473 For the year ending December 31, 2021 649 Total undiscounted lease payments 1,122 Less imputed interest 106 Total operating lease liabilities $ 1,016

Note 7 - Accrued Expenses and O

Note 7 - Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Accrued Liabilities and Other Current Liabilities Disclosure [Text Block]	( 7 Accrued expenses and other current liabilities consisted of the following (in thousands): March 31, December 31, 2020 2019 Accrued expenses $ 99 $ 10 Accrued salaries and employee benefits 753 652 Accrued director compensation 763 648 Accrued clinical trial costs 511 519 Grant liability 624 630 Customer deposits 104 102 Total $ 2,854 $ 2,561

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	( 8 Public Offering on Form S- 1 April 2019, 1 1 August 2, 2019, 1, 1,666,667 one $0.001 one $6.00 $6.30 five 11,958 $6.60 45 250,000 250,000 August 6, 2019. $8.84 September 4, 2019, 75,000 250,000 $420,000, $32,000. Up List to Nasdaq August 2, 2019, Convertible Note Financing July 5, 2019, $625,000 14.0% six January 5, 2020. 50% $52,000 $521,000, Q3 2019. Upon the closing of the Company’s public offering of units on August 6, 2019 $633,000, 210,887 one one $3.00 one $8.00 Reverse Stock Split June 6, 2019, 1 9 Warrants Number of Weighted Common Stock Average Warrants Exercise Price Balance, December 31, 2019 2,435,808 $ 6.36 Warrants for common stock sold — — Warrants for common stock exercised — — Balance, March 31, 2020 2,435,808 $ 6.36

Note 9 - Share-based Compensati

Note 9 - Share-based Compensation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	( 9 The share-based compensation expense is recorded in cost of goods sold, research and development, and selling, general and administrative expenses based on the employee's or non-employee’s respective function. No three March 31, 2020 2019 Three months ended March 31, 2020 2019 Cost of goods sold $ — $ 46 Research and development 413 242 Selling, general and administrative 528 402 Total share-based compensation expense $ 941 $ 690 On January 29, 2020 ( $5.32 No 515,036 $10.05 $97.21, The repricing resulted in incremental stock-based compensation expense of $569,000, $412,000 $157,000 three The following table summarizes the activity of stock options and related information: Options outstanding Number of shares Weighted average exercise price Weighted average remaining contractual term (years) Balance, December 31, 2019 821,464 $ 18.99 6.6 Stock options granted 31,455 5.33 Stock options exercised — — Stock options canceled (16,947 ) 16.32 Balance, March 31, 2020 835,972 $ 7.20 7.4 Exercisable and vested, March 31, 2020 472,113 $ 8.63 6.4 Unrecognized share-based compensation for employee and nonemployee options granted through March 31, 2020 $3.0 2.1 Share-Based Compensation (RSUs) The following summarizes the activity of non-vested RSUs: Number of shares Weighted average grant date fair value per share Balance, December 31, 2019 36,981 $ 10.56 RSUs granted — — RSUs vested (23,172 ) 10.56 RSUs forfeited (13,809 ) — Balance, March 31, 2020 — $ —

Note 10 - Net Loss Per Share

Note 10 - Net Loss Per Share	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	( 10 Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. For all periods presented, there is no The following outstanding common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive: March 31, 2020 2019 Stock options to purchase common stock 835,972 608,596 Unvested restricted stock units - 27,435 Common stock warrants 2,435,807 296,296 Total 3,271,779 932,327

Note 11 - Income Taxes

Note 11 - Income Taxes	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 11 During the three March 31, 2020 2019, no As of March 31, 2020, not not On March 27, 2020, 19 100% 2021. 2018, 2019, 2020 five no

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	( 12 On April 9, 2020, No. 3:19 05645 Under the terms of the Funding Agreement, the Funder agreed to fund the legal fees and costs incurred by the Company in connection with the Litigation on and after March 1, 2020 (a) 50% three (b) 30% Although the Company is required under the terms of the Funding Agreement to consult with the Funder regarding any settlement in connection with the Litigation and to allow Funder to participate in any real-time settlement negotiations, the Company has the sole and exclusive right to settle on whatever terms it deems acceptable. There has been no 10 The Funding Agreement may ten may ten ten

Note 13 - Subsequent Events

Note 13 - Subsequent Events	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	( 1 3 ) Subsequent Events Paycheck Protection Program May 1, 2020, $506,413 May 1, 2020. In accordance with the requirements of the CARES Act, the Borrower will use the proceeds from the Note in accordance with the requirements of the PPP to cover certain qualified expenses, including payroll costs, rent and utility costs. Interest accrues on the Note at the rate of 1.00% may eight Subject to any forgiveness under the PPP, the Note mature two first six seventh 18 may no

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	(a) Basis of Preparation The accompanying condensed consolidated balance sheets, statements of operations, shareholders’ equity, and cash flows as of March 31, 2020 three March 31, 2020 2019 March 31, 2020, three March 31, 2020 2019, three March 31, 2020 2019. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s Annual Report on Form 10 December 31, 2019, April 9, 2020. The results for the three March 31, 2020 not December 31, 2020 19, 19, Beginning March 17, 2020, April 6, may may 19 BioCardia’s ability to raise additional funds may 19
Going Concern and Liquidity [Policy Text Block]	(b) Liquidity and Other Risks and Uncertainties Going Concern and Liquidity $105.7 March 31, 2020. $2.6 March 31, 2020 not second 2020. one not The Company’s ability to continue as a going concern and to continue further development of its therapeutic candidates beyond the second 2020, not not may may
Use of Estimates, Policy [Policy Text Block]	(c) Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Significant items subject to such estimates and assumptions include share-based compensation, the useful lives of property and equipment, right-of-use assets and related liabilities, incremental borrowing rate, allowances for doubtful accounts and sales returns, derivative instruments, clinical accruals, and inventory valuation.
Consolidation, Policy [Policy Text Block]	(d) Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany accounts and transactions have been eliminated during the consolidation process.
Change to Significant Accounting Policies [Policy Text Block]	(e) Changes to Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 10 April 9, 2020 December 31, 2019. no
New Accounting Pronouncements, Policy [Policy Text Block]	( f ) Recently Issued Accounting Pronouncements Recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force did not not

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	As of March 31, 2020 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 1,913 $ — $ — $ 1,913 As of December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 4,637 $ — $ — $ 4,637

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2020 2019 Finished goods — 4 Total $ — $ 4

Note 5 - Property and Equipme_2

Note 5 - Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2020 2019 Computer equipment and software $ 132 $ 132 Laboratory and manufacturing equipment 550 550 Furniture and fixtures 60 55 Leasehold improvements 332 332 Construction in progress 69 69 Property and equipment, gross 1,143 1,138 Less: accumulated depreciation (979 ) (957 ) Property and equipment, net $ 164 $ 181

Note 6 - Operating Lease Righ_2

Note 6 - Operating Lease Right-of-use Asset, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Operating Lease March 31, 2020 Remainder of 2020 $ 473 For the year ending December 31, 2021 649 Total undiscounted lease payments 1,122 Less imputed interest 106 Total operating lease liabilities $ 1,016

Note 7 - Accrued Expenses and_2

Note 7 - Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Accrued Liabilities and Other Current Liabilities [Table Text Block]	March 31, December 31, 2020 2019 Accrued expenses $ 99 $ 10 Accrued salaries and employee benefits 753 652 Accrued director compensation 763 648 Accrued clinical trial costs 511 519 Grant liability 624 630 Customer deposits 104 102 Total $ 2,854 $ 2,561

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number of Weighted Common Stock Average Warrants Exercise Price Balance, December 31, 2019 2,435,808 $ 6.36 Warrants for common stock sold — — Warrants for common stock exercised — — Balance, March 31, 2020 2,435,808 $ 6.36

Note 9 - Share-based Compensa_2

Note 9 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Share-based Compensation, Expense [Table Text Block]	Three months ended March 31, 2020 2019 Cost of goods sold $ — $ 46 Research and development 413 242 Selling, general and administrative 528 402 Total share-based compensation expense $ 941 $ 690
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Options outstanding Number of shares Weighted average exercise price Weighted average remaining contractual term (years) Balance, December 31, 2019 821,464 $ 18.99 6.6 Stock options granted 31,455 5.33 Stock options exercised — — Stock options canceled (16,947 ) 16.32 Balance, March 31, 2020 835,972 $ 7.20 7.4 Exercisable and vested, March 31, 2020 472,113 $ 8.63 6.4
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of shares Weighted average grant date fair value per share Balance, December 31, 2019 36,981 $ 10.56 RSUs granted — — RSUs vested (23,172 ) 10.56 RSUs forfeited (13,809 ) — Balance, March 31, 2020 — $ —

Note 10 - Net Loss Per Share (T

Note 10 - Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	March 31, 2020 2019 Stock options to purchase common stock 835,972 608,596 Unvested restricted stock units - 27,435 Common stock warrants 2,435,807 296,296 Total 3,271,779 932,327

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Retained Earnings (Accumulated Deficit), Ending Balance	$ (105,664)	$ (101,070)
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 2,587	$ 5,585	$ 2,838	$ 5,358

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurement - Fair Value of Assets Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Money market funds	$ 1,913	$ 4,637
Fair Value, Inputs, Level 1 [Member]
Money market funds	1,913	4,637
Fair Value, Inputs, Level 2 [Member]
Money market funds
Fair Value, Inputs, Level 3 [Member]
Money market funds

Note 4 - Inventories (Details T

Note 4 - Inventories (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Inventory Write-down	$ 3,000
Cost of Goods Sold [Member]
Inventory Write-down	$ (3,000)	$ 2,000

Note 4 - Inventories - Summary

Note 4 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finished goods		$ 4
Total		$ 4

Note 5 - Property and Equipme_3

Note 5 - Property and Equipment, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Depreciation, Total	$ 22,000	$ 23,000

Note 5 - Property and Equipme_4

Note 5 - Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property and equipment, gross	$ 1,143	$ 1,138
Less: accumulated depreciation	(979)	(957)
Property and equipment, net	164	181
Computer Equipment and Software [Member]
Property and equipment, gross	132	132
Laboratory and Manufacturing Equipment [Member]
Property and equipment, gross	550	550
Furniture and Fixtures [Member]
Property and equipment, gross	60	55
Leasehold Improvements [Member]
Property and equipment, gross	332	332
Construction in Progress [Member]
Property and equipment, gross	$ 69	$ 69

Note 6 - Operating Lease Righ_3

Note 6 - Operating Lease Right-of-use Asset, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Lease, Expense	$ 150,000	$ 150,000
Operating Lease, Payments	$ 158,000	$ 153,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	1 year 273 days
Operating Lease, Weighted Average Discount Rate, Percent	12.05%

Note 6 - Operating Lease Right

Note 6 - Operating Lease Right of Use Asset, Net - Future Minimum Lease Payments Under Operating Lease (Details) $ in Thousands	Mar. 31, 2020USD ($)
Remainder of 2020	$ 473
For the year ending December 31, 2021	649
Total undiscounted lease payments	1,122
Less imputed interest	106
Total operating lease liabilities	$ 1,016

Note 7 - Accrued Expenses and_3

Note 7 - Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accrued expenses	$ 99	$ 10
Accrued salaries and employee benefits	753	652
Accrued director compensation	763	648
Accrued clinical trial costs	511	519
Grant liability	624	630
Customer deposits	104	102
Total	$ 2,854	$ 2,561

Note 8 - Stockholders' Equity_2

Note 8 - Stockholders' Equity (Details Textual)	Sep. 04, 2019USD ($)shares	Aug. 06, 2019USD ($)$ / sharesshares	Aug. 06, 2019USD ($)$ / sharesshares	Aug. 02, 2019$ / sharesshares	Jul. 05, 2019USD ($)shares	Jun. 06, 2019	Mar. 31, 2020$ / sharesshares	Dec. 31, 2019$ / shares	Aug. 05, 2019$ / shares
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares							$ 0.001	$ 0.001
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares							$ 6.36	$ 6.36
Class of Warrant or Right, Issued During Period (in shares)
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio						9
Conversion of Convertible Notes to Units [Member]
Debt Conversion, Original Debt, Amount | $		$ 633,000			$ 52,000
Debt Conversion, Converted Instrument, Shares Issued (in shares)		210,887			521,000
Convertible Promissory Note [Member]
Proceeds from Convertible Debt | $					$ 625,000
Debt Instrument, Interest Rate, Stated Percentage					14.00%
Debt Conversion, Original Debt, Discount of Securities Offered					50.00%
Underwriters [Member]
Proceeds from Issuance or Sale of Equity, Total | $	$ 420,000
Stock Issued During Period, Shares, New Issues (in shares)	75,000
Class of Warrant or Right, Issued During Period (in shares)	250,000
Underwriting Discounts and Commissions | $	$ 32,000
Warrants Issued to Underwriters [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares				$ 6.60
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)				11,958
Public Offering [Member]
Number of Units Offered to Sale (in shares)				1,666,667
Number of Common Stock in Each Unit (in shares)				1
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares				$ 0.001
Number of Common Stock Called by Each Unit (in shares)				1
Unit Offering Price (in dollars per share) | $ / shares				$ 6
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares				$ 6.30
Warrants and Rights Outstanding, Term (Year)				5 years
Underwriters, Additional Common Shares Authorized to Purchase (in shares)				250,000
Underwriters, Additional Warrants Authorized to Purchase (in shares)				250,000
Proceeds from Issuance or Sale of Equity, Total | $			$ 8,840,000
Private Placement Unit [Member]
Number of Common Stock in Each Unit (in shares)		1	1
Number of Common Stock Called by Each Unit (in shares)		1	1
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares		$ 3	$ 3						$ 8

Note 8 - Stockholders' Equity -

Note 8 - Stockholders' Equity - Warrants (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Balance, December 31, 2019 (in shares) | shares	2,435,808
Balance, December 31, 2019 (in dollars per share) | $ / shares	$ 6.36
Warrants for common stock sold (in shares) | shares
Warrants for common stock sold (in dollars per share) | $ / shares
Balance, March 31, 2020 (in shares) | shares	2,435,808
Balance, March 31, 2020 (in dollars per share) | $ / shares	$ 6.36

Note 9 - Share-based Compensa_3

Note 9 - Share-based Compensation (Details Textual) - USD ($)	Jan. 29, 2020	Nov. 26, 2019	Mar. 31, 2020	Mar. 31, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 157,000		$ 0	$ 0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 5.32		$ 5.33
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		515,036	31,455
Share-based Payment Arrangement, Expensed and Capitalized, Amount, Total	$ 569,000
Share-based Payment Arrangement, Expense	$ 412,000		$ 941,000	$ 690,000
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Weighted Average Award Vesting Period (Year)	3 years
Non-employee Directors and Employees [Member]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount			$ 3,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 36 days
Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 10.05
Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 97.21

Note 9 - Share-based Compensa_4

Note 9 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($)	Jan. 29, 2020	Mar. 31, 2020	Mar. 31, 2019
Share-based compensation expense	$ 412,000	$ 941,000	$ 690,000
Cost of Goods Sold [Member]
Share-based compensation expense			46,000
Research and Development Expense [Member]
Share-based compensation expense		413,000	242,000
Selling, General and Administrative Expenses [Member]
Share-based compensation expense		$ 528,000	$ 402,000

Note 9 - Share-based Compensa_5

Note 9 - Share-based Compensation - Stock Option Activity (Details) - $ / shares	Jan. 29, 2020	Nov. 26, 2019	Mar. 31, 2020	Dec. 31, 2019
Stock options outstanding, beginning of period (in shares)			821,464
Balance, weighted average exercise price, beginning of period (in dollars per share)			$ 18.99
Stock options outstanding, weighted average remaining contractual term (Year)			7 years 146 days	6 years 219 days
Stock options granted (in shares)		515,036	31,455
Stock options granted, weighted average exercise price (in dollars per share)	$ 5.32		$ 5.33
Stock options exercised (in shares)
Stock options exercised, weighted average exercise price (in dollars per share)
Stock options canceled (in shares)			(16,947)
Stock options canceled, weighted average exercise price (in dollars per share)			$ 16.32
Stock options outstanding, end of period (in shares)			835,972	821,464
Balance, weighted average exercise price, end of period (in dollars per share)			$ 7.20	$ 18.99
Exercisable and vested (in shares)			472,113
Exercisable and vested, weighted average exercise price (in dollars per share)			$ 8.63
Exercisable and vested, weighted average remaining contractual term (Year)			6 years 146 days

Note 9 - Share-based Compensa_6

Note 9 - Share-based Compensation - Summary of Non-vested RSUs (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Balance, shares (in shares) | shares	36,981
Balance, weighted average grant date fair value per share (in dollars per share) | $ / shares	$ 10.56
RSUs granted, shares (in shares) | shares
RSUs granted, weighted average grant date fair value per share (in dollars per share) | $ / shares
RSUs vested, shares (in shares) | shares	(23,172)
RSUs vested, weighted average grant date fair value per share (in dollars per share) | $ / shares	$ 10.56
RSUs forfeited, shares (in shares) | shares	(13,809)
RSUs forfeited, weighted average grant date fair value per share (in dollars per share) | $ / shares
Balance, shares (in shares) | shares
Balance, weighted average grant date fair value per share (in dollars per share) | $ / shares

Note 10 - Net Loss Per Share -

Note 10 - Net Loss Per Share - Anti-dilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive securities (in shares)	3,271,779	932,327
Share-based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	835,972	608,596
Restricted Stock Units (RSUs) [Member]
Antidilutive securities (in shares)		27,435
Warrant [Member]
Antidilutive securities (in shares)	2,435,807	296,296

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Expense (Benefit), Total	$ 0	$ 0
Deferred Tax Liabilities, Net, Total	$ 0

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Details Textual) - BSLF, L.L.C. [Member] - Funding Agreement [Member]	3 Months Ended
	Mar. 31, 2020
Percentage of Remaining Litigation Proceeds Up to Three Times the Actual Funding Amount	50.00%
Percentage of Remaining Litigation Proceeds	30.00%
Agreement Termination Period (Day)	10 days

Note 13 - Subsequent Events (De

Note 13 - Subsequent Events (Details Textual)	May 01, 2020USD ($)
Subsequent Event [Member]
Proceeds from Paycheck Protection Program Under CARES Act	$ 506,413