BioCardia (BCDA) 10-Q 10 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 05, 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)		12,428,794
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
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	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 7,392	$ 5,585
Accounts receivable, net of allowance for doubtful accounts of $2 and $2 at September 30, 2020 and December 31, 2019	304	147
Inventory		4
Prepaid expenses and other current assets	132	642
Other receivable due from related party	762
Total current assets	8,590	6,378
Property and equipment, net	161	181
Operating lease right-of-use asset, net	697	1,065
Other assets	54	54
Total assets	9,502	7,678
Current liabilities:
Accounts payable	1,208	914
Accrued expenses and other current liabilities	2,236	2,561
Current portion of note payable	284
Operating lease liability - current	592	528
Total current liabilities	4,320	4,003
Operating lease liability - noncurrent	161	614
Note payable, net of current portion	225
Deferred revenue	683	691
Total liabilities	5,389	5,308
Stockholders’ equity:
Preferred stock, $0.001 par value, 25,000,000 shares authorized as of September 30, 2020 and December 31, 2019; no shares issued and outstanding as of September 30, 2020 and December 31, 2019
Common stock, $0.001 par value, 100,000,000 shares authorized as of September 30, 2020 and December 31, 2019; 12,428,794 and 6,825,183 shares issued and outstanding as of September 30, 2020 and December 31, 2019	12	7
Additional paid-in capital	117,186	103,433
Accumulated deficit	(113,085)	(101,070)
Total stockholders’ equity	4,113	2,370
Total liabilities and stockholders’ equity	$ 9,502	$ 7,678

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 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)	12,428,794	6,825,183
Common stock, shares outstanding (in shares)	12,428,794	6,825,183

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Total revenue	$ 34	$ 194	$ 99	$ 495
Costs and expenses:
Cost of goods sold		24	4	321
Research and development	2,474	2,007	7,484	6,392
Selling, general and administrative	1,408	1,390	4,642	4,460
Total costs and expenses	3,882	3,421	12,130	11,173
Operating loss	(3,848)	(3,227)	(12,031)	(10,678)
Other income (expense):
Interest income	1	17	19	53
Gain on change in fair value of redemption feature embedded in convertible notes		52		52
Interest expense	(1)	(112)	(2)	(112)
Loss on extinguishment of convertible notes		(521)		(521)
Other expense		(1)	(1)	(2)
Total other (expense) income		(565)	16	(530)
Net loss	$ (3,848)	$ (3,792)	$ (12,015)	$ (11,208)
Net loss per share, basic and diluted (in dollars per share)	$ (0.30)	$ (0.63)	$ (1.33)	$ (2.13)
Weighted-average shares used in computing net loss per share, basic and diluted (in shares)	12,618,285	6,030,662	9,059,433	5,263,058
Product [Member]
Revenue:
Total revenue	$ 8	$ 1	$ 13	$ 139
Collaboration Agreement [Member]
Revenue:
Total revenue	$ 26	$ 193	$ 86	$ 356

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Restricted Stock Units (RSUs) [Member]Board of Directors [Member]Common Stock [Member]	Restricted Stock Units (RSUs) [Member]Board of Directors [Member]Additional Paid-in Capital [Member]	Restricted Stock Units (RSUs) [Member]Board of Directors [Member]Retained Earnings [Member]	Restricted Stock Units (RSUs) [Member]Board of Directors [Member]	Restricted Stock Units (RSUs) [Member]Management [Member]Common Stock [Member]	Restricted Stock Units (RSUs) [Member]Management [Member]Additional Paid-in Capital [Member]	Restricted Stock Units (RSUs) [Member]Management [Member]Retained Earnings [Member]	Restricted Stock Units (RSUs) [Member]Management [Member]	Restricted Stock Units (RSUs) [Member]Common Stock [Member]	Restricted Stock Units (RSUs) [Member]Additional Paid-in Capital [Member]	Restricted Stock Units (RSUs) [Member]Retained Earnings [Member]	Restricted Stock Units (RSUs) [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)
Restricted stock units vested and issued										$ 1		$ 1
Balance (in shares) at Mar. 31, 2019													4,847,965
Balance at Mar. 31, 2019													$ 5	90,839	(90,026)	818
Balance (in shares) at Dec. 31, 2018													4,845,697
Balance at Dec. 31, 2018													$ 5	90,148	(86,361)	3,792
Net loss																(11,208)
Balance (in shares) at Sep. 30, 2019													6,825,183
Balance at Sep. 30, 2019													$ 7	102,755	(97,568)	5,194
Balance (in shares) at Mar. 31, 2019													4,847,965
Balance at Mar. 31, 2019													$ 5	90,839	(90,026)	818
Share-based compensation														696		696
Net loss															(3,750)	(3,750)
Reverse stock split fractional share true up (in shares)													(494)
Balance (in shares) at Jun. 30, 2019													4,847,471
Balance at Jun. 30, 2019													$ 5	91,535	(93,776)	(2,236)
Restricted stock units vested and issued (in shares)													25,158
Share-based compensation														756		756
Net loss															(3,792)	(3,792)
Issuance from sale of common stock, net of issuance costs (in shares)													1,741,667
Issuance from sale of common stock, net of issuance costs													$ 2	9,258		9,260
Restricted stock units vested and issued
Issuance costs from sale of common stock in prior quarter																(1,192)
Issuance of stock and warrants from conversion of convertible notes (in shares)													210,887
Issuance of stock and warrants from conversion of convertible notes														1,206		1,206
Balance (in shares) at Sep. 30, 2019													6,825,183
Balance at Sep. 30, 2019													$ 7	102,755	(97,568)	5,194
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)
Balance (in shares) at Dec. 31, 2019													6,825,183
Balance at Dec. 31, 2019													$ 7	103,433	(101,070)	2,370
Net loss																(12,015)
Balance (in shares) at Sep. 30, 2020													12,428,794
Balance at Sep. 30, 2020													$ 12	117,186	(113,085)	4,113
Balance (in shares) at Mar. 31, 2020													6,848,355
Balance at Mar. 31, 2020													$ 7	104,374	(105,664)	(1,283)
Share-based compensation														655		655
Net loss															(3,573)	(3,573)
Issuance from sale of common stock, net of issuance costs (in shares)													5,476,190
Issuance from sale of common stock, net of issuance costs													$ 5	10,335		10,340
Restricted stock units issued		$ 613		$ 613		$ 391		$ 391
Stock grants to former directors (in shares)													29,625
Stock grants to former directors														148		148
Issuance costs from sale of common stock in prior quarter																(1,160)
Balance (in shares) at Jun. 30, 2020													12,425,794
Balance at Jun. 30, 2020													$ 12	116,516	(109,237)	7,291
Restricted stock units vested and issued (in shares)									3,000
Share-based compensation														737		737
Net loss															(3,848)	(3,848)
Restricted stock units vested and issued
Issuance costs from sale of common stock in prior quarter (in shares)
Issuance costs from sale of common stock in prior quarter														(67)		(67)
Balance (in shares) at Sep. 30, 2020													12,428,794
Balance at Sep. 30, 2020													$ 12	$ 117,186	$ (113,085)	$ 4,113

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019
Issuance costs	$ 67	$ 1,160	$ 1,192

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net loss	$ (12,015)	$ (11,208)
Adjustments to reconcile net loss to net cash used in operating activities:
Write-off of inventory	3	54
Depreciation	52	78
Reduction in the carrying amount of right-of-use asset	368	325
Non-cash board compensation expense	115
Amortiztion of debt discount on convertible shareholder notes		112
Change in fair value of redemption feature embedded in convertible notes		(52)
Loss on extinguishment of convertible notes		521
Share-based compensation	2,333	2,142
Changes in operating assets and liabilities:
Accounts receivable	(157)	171
Inventory	1	43
Prepaid expenses and other current assets	510	265
Other receivable due from related party	(762)
Accounts payable	294	372
Accrued expenses and other current liabilities	715	687
Deferred revenue	(8)	691
Operating lease liability - current	64
Operating lease liability - noncurrent	(453)	(390)
Net cash used in operating activities	(8,940)	(6,189)
Investing activities:
Purchase of property and equipment	(32)	(144)
Net cash used in investing activities	(32)	(144)
Financing activities:
Proceeds from sale of common stock	11,500
Issuance Costs of the sale of stock	(1,227)
Proceeds from sale of stock and warrants		10,452
Issuance Costs of the sale of stock and warrants		(1,192)
Proceeds from loan payable	506
Proceeds from convertible loan payable		625
Proceeds from the exercise of common stock options
Net cash provided by financing activities	10,779	9,885
Net change in cash and cash equivalents	1,807	3,552
Cash and cash equivalents at beginning of period	5,585	5,358
Cash and cash equivalents at end of period	7,392	8,910
Supplemental disclosure for noncash investing and financing activities:
Right-of-use asset obtained in exchange for lease obligation		1,505
Non-cash interest expense accretion to loan payable	2
Issuance of restricted stock units in lieu of 2019 cash bonus obligations	391
Issuance of restricted stock units in lieu of 2018 cash bonus obligations		165
Issuance of restricted stock units in lieu of board cash compensation obligations	613
Issuance of common stock in lieu of board cash compensation obligations	148
Conversion of notes and interest payable to stock and warrants		$ 633

Note 1 - Summary of Business an

Note 1 - Summary of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 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, which provides an autologous bone marrow derived cell therapy using a patient's own cells for treatment in two second 1 BioCardia also has three 1 2 3

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	9 Months Ended
	Sep. 30, 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 September 30, 2020 three nine September 30, 2020 2019 September 30, 2020, three nine September 30, 2020 2019, nine September 30, 2020 2019. three nine September 30, 2020 not December 31, 2020 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 September 30, 2020 not December 31, 2020 19, 19, Beginning March 17, 2020, April 6, three September 30, 2020, may 19 BioCardia's ability to raise additional funds may 19 (b) Liquidity and Other Risks and Uncertainties Going Concern and Liquidity $113.1 September 30, 2020. $7.4 September 30, 2020 not second 2021. one not The Company's ability to continue as a going concern and to continue further development of its therapeutic candidates beyond the second 2021, 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	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 3 Fair Value Measurement 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 September 30, 2020 December 31, 2019 As of September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 7,501 $ — $ — $ 7,501 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	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 4 Inventories Inventories are stated at the lower of cost or net realizable value using the average cost method. Inventories consisted of the following (in thousands): September 30, December 31, 2020 2019 Raw materials $ — $ — Work in process — — 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. Charges to cost of goods sold for inventory write-downs, reserve adjustments, scrap, shrinkage, and expired inventories totaled approximately $0 $1,000 three nine September 30, 2020, $0 $80,000 three nine September 30, 2019,

Note 5 - Property and Equipment

Note 5 - Property and Equipment, Net	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 5 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): September 30, December 31, 2020 2019 Computer equipment and software $ 157 $ 132 Laboratory and manufacturing equipment 550 550 Furniture and fixtures 59 55 Leasehold improvements 332 332 Construction in progress 71 69 Property and equipment, gross 1,169 1,138 Less: accumulated depreciation (1,008 ) (957 ) Property and equipment, net $ 161 $ 181 Depreciation expense totaled approximately $15,000 $52,000 three nine September 30, 2020, $29,000 $78,000 three nine September 30, 2019,

Note 6 - Operating Lease Right-

Note 6 - Operating Lease Right-of-use Asset, Net	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	( 6 Operating 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 nine September 30, 2020, $150,000 $451,000. three nine September 30, 2019, $150,000 $450,000. three nine September 30, 2020, $158,000 $473,000. three nine September 30, 2019, $153,000 $459,000. September 30, 2020, 1.25 12.05%. Future minimum lease payments under the operating lease as of September 30, 2020 Operating Lease September 30, 2020 Remainder of 2020 $ 158 For the year ending December 31, 2021 649 Total undiscounted lease payments 807 Less imputed interest 54 Total operating lease liabilities $ 753

Note 7 - Accrued Expenses and O

Note 7 - Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Accrued Liabilities and Other Current Liabilities Disclosure [Text Block]	( 7 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): September 30, December 31, 2020 2019 Accrued expenses $ 105 $ 10 Accrued salaries and employee benefits 843 652 Accrued director compensation — 648 Accrued clinical trial costs 578 519 Grant liability 620 630 Customer deposits 90 102 Total $ 2,236 $ 2,561

Note 8 - Note Payable Under Pay

Note 8 - Note Payable Under Paycheck Protection Program	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	( 8 Note payable under Paycheck Protection Program 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% $2,000 September 30, 2020. may eight June 5, 2020, eight twenty-four Subject to any forgiveness under the PPP, the Note matures two first six seventh 18 may no October 7, 2020,

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	( 9 Stockholders' Equity 2020 1 May 2020, 1 1 June 17, 2020, 1, 4,762,000 $0.001 $2.10 45 714,190 June 18, 2020. June 19, 2020. $10.3 Warrants Number of Weighted Common Stock Average Warrants Exercise Price Balance, December 31, 2019 2,435,807 $ 6.36 Warrants for common stock sold — — Warrants for common stock exercised — — Balance, September 30, 2020 2,435,807 $ 6.36

Note 10 - Share-based Compensat

Note 10 - Share-based Compensation	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	( 10 Share-Based Compensation 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 September 30, 2020 2019 Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Cost of goods sold $ - $ 38 $ - $ 130 Research and development 357 293 1,088 788 Selling, general and administrative 380 425 1,245 1,224 Total stock-based compensation $ 737 $ 756 $ 2,333 $ 2,142 On January 29, 2020 ( $5.32 No 515,036 $10.05 $97.21, The repricing on January 29, 2020 $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 300,432 3.15 Stock options exercised — - Stock options canceled (43,083 ) 13.19 Balance, September 30, 2020 1,078,813 $ 6.04 7.6 Exercisable and vested, September 30, 2020 574,574 $ 7.77 6.4 Unrecognized share-based compensation for employee and nonemployee options granted through September 30, 2020 $2.4 2.3 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 338,418 3.99 RSUs vested 97,796 5.99 RSUs forefeited 56,161 3.75 Balance, September 30, 2020 221,442 $ 4.26 Unrecognized share-based compensation for employee and nonemployee RSUs granted through September 30, 2020 $180,000 1.8 On April 24, 2020, 113,976 December 31, 2019. On April 30, 2020, 122,997 $613,000 April 2018 March 2020. September 30, 2020, 23,122 $55,000 three September 30, 2020. June 30, 2020, 23,123 $55,000 three June 30, 2020. $92,500 $4 one two 2016 On June 8, 2020, 29,625 two $148,000

Note 11 - Net Loss Per Share

Note 11 - Net Loss Per Share	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	( 11 Net Loss per Share 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: September 30, 2020 2019 Stock options to purchase common stock 1,078,813 837,308 Unvested restricted stock units 8,200 36,981 Common stock warrants 2,435,807 2,435,807 Total 3,522,820 3,310,096

Note 12 - Income Taxes

Note 12 - Income Taxes	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 12 Income Taxes During the three nine September 30, 2020 2019, no As of September 30, 2020, not not On March 27, 2020, 19 100% 2021. 2018, 2019, 2020 five no

Note 13 - Related Party Transac

Note 13 - Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	( 13 Related Party Transactions 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 September 30, 2020. The Funding Agreement may ten may ten ten September 30, 2020 $762,000. $762,000 November 4, 2020.

Note 14 - Subsequent Events

Note 14 - Subsequent Events	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	( 1 4 ) Subsequent Event s Related Party Receivable 13, $762,000 November 4, 2020. Paycheck Protection Program October 7, 2020, $506,413 November 7, 2020.

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	As of September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 7,501 $ — $ — $ 7,501 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)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2020 2019 Raw materials $ — $ — Work in process — — Finished goods — 4 Total $ — $ 4

Note 5 - Property and Equipme_2

Note 5 - Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2020 2019 Computer equipment and software $ 157 $ 132 Laboratory and manufacturing equipment 550 550 Furniture and fixtures 59 55 Leasehold improvements 332 332 Construction in progress 71 69 Property and equipment, gross 1,169 1,138 Less: accumulated depreciation (1,008 ) (957 ) Property and equipment, net $ 161 $ 181

Note 6 - Operating Lease Righ_2

Note 6 - Operating Lease Right-of-use Asset, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Operating Lease September 30, 2020 Remainder of 2020 $ 158 For the year ending December 31, 2021 649 Total undiscounted lease payments 807 Less imputed interest 54 Total operating lease liabilities $ 753

Note 7 - Accrued Expenses and_2

Note 7 - Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Accrued Liabilities and Other Current Liabilities [Table Text Block]	September 30, December 31, 2020 2019 Accrued expenses $ 105 $ 10 Accrued salaries and employee benefits 843 652 Accrued director compensation — 648 Accrued clinical trial costs 578 519 Grant liability 620 630 Customer deposits 90 102 Total $ 2,236 $ 2,561

Note 9 - Stockholders' Equity (

Note 9 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 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 2,435,807 $ 6.36 Warrants for common stock sold — — Warrants for common stock exercised — — Balance, September 30, 2020 2,435,807 $ 6.36

Note 10 - Share-based Compens_2

Note 10 - Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Share-based Compensation, Expense [Table Text Block]	Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Cost of goods sold $ - $ 38 $ - $ 130 Research and development 357 293 1,088 788 Selling, general and administrative 380 425 1,245 1,224 Total stock-based compensation $ 737 $ 756 $ 2,333 $ 2,142
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 300,432 3.15 Stock options exercised — - Stock options canceled (43,083 ) 13.19 Balance, September 30, 2020 1,078,813 $ 6.04 7.6 Exercisable and vested, September 30, 2020 574,574 $ 7.77 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 338,418 3.99 RSUs vested 97,796 5.99 RSUs forefeited 56,161 3.75 Balance, September 30, 2020 221,442 $ 4.26

Note 11 - Net Loss Per Share (T

Note 11 - Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	September 30, 2020 2019 Stock options to purchase common stock 1,078,813 837,308 Unvested restricted stock units 8,200 36,981 Common stock warrants 2,435,807 2,435,807 Total 3,522,820 3,310,096

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Retained Earnings (Accumulated Deficit), Ending Balance	$ (113,085)	$ (101,070)
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 7,392	$ 5,585

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	Sep. 30, 2020	Dec. 31, 2019
Money market funds	$ 7,501	$ 4,637
Fair Value, Inputs, Level 1 [Member]
Money market funds	7,501	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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Inventory Write-down			$ 3,000	$ 54,000
Cost of Goods Sold [Member]
Inventory Write-down	$ 0	$ 0	$ 1,000	$ 80,000

Note 4 - Inventories - Summary

Note 4 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Raw materials
Work in process
Finished goods		4
Total		$ 4

Note 5 - Property and Equipme_3

Note 5 - Property and Equipment, Net (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Depreciation, Total	$ 15,000	$ 29,000	$ 52,000	$ 78,000

Note 5 - Property and Equipme_4

Note 5 - Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property and equipment, gross	$ 1,169	$ 1,138
Less: accumulated depreciation	(1,008)	(957)
Property and equipment, net	161	181
Computer Equipment and Software [Member]
Property and equipment, gross	157	132
Laboratory and Manufacturing Equipment [Member]
Property and equipment, gross	550	550
Furniture and Fixtures [Member]
Property and equipment, gross	59	55
Leasehold Improvements [Member]
Property and equipment, gross	332	332
Construction in Progress [Member]
Property and equipment, gross	$ 71	$ 69

Note 6 - Operating Lease Righ_3

Note 6 - Operating Lease Right-of-use Asset, Net (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating Lease, Expense	$ 150,000	$ 150,000	$ 451,000	$ 450,000
Operating Lease, Payments	$ 158,000	$ 153,000	$ 473,000	$ 459,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	1 year 91 days		1 year 91 days
Operating Lease, Weighted Average Discount Rate, Percent	12.05%		12.05%

Note 6 - Operating Lease Righ_4

Note 6 - Operating Lease Right-of-use Asset, Net - Future Minimum Lease Payments Under Operating Lease (Details) $ in Thousands	Sep. 30, 2020USD ($)
Remainder of 2020	$ 158
For the year ending December 31, 2021	649
Total undiscounted lease payments	807
Less imputed interest	54
Total operating lease liabilities	$ 753

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	Sep. 30, 2020	Dec. 31, 2019
Accrued expenses	$ 105	$ 10
Accrued salaries and employee benefits	843	652
Accrued director compensation		648
Accrued clinical trial costs	578	519
Grant liability	620	630
Customer deposits	90	102
Total	$ 2,236	$ 2,561

Note 8 - Note Payable Under P_2

Note 8 - Note Payable Under Paycheck Protection Program (Details Textual) - Paycheck Protection Program CARES Act [Member] - USD ($)	May 01, 2020	Sep. 30, 2020
Proceeds from Issuance of Long-term Debt, Total	$ 506,413
Interest Payable		$ 2,000

Note 9 - Stockholders' Equity_2

Note 9 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jun. 19, 2020	Jun. 18, 2020	Jun. 17, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Common Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001		$ 0.001
Proceeds from Issuance of Common Stock				$ 11,500
Underwriters [Member]
Stock Issued During Period, Shares, New Issues (in shares)		714,190
Public Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)	4,762,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001
Shares Issued, Price Per Share (in dollars per share)	$ 2.10
Underwriters, Additional Common Shares Authorized to Purchase (in shares)			714,190
Proceeds from Issuance of Common Stock	$ 10,300

Note 9 - Stockholders' Equity -

Note 9 - Stockholders' Equity - Warrants (Details)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Balance, beginning (in shares) | shares	2,435,807
Balance, beginning, weighted average exercise price (in dollars per share) | $ / shares	$ 6.36
Warrants for common stock sold (in shares) | shares
Warrants for common stock sold, weighted average exercise price (in dollars per share) | $ / shares
Balance, ending (in shares) | shares	2,435,807
Balance, ending, weighted average exercise price (in dollars per share) | $ / shares	$ 6.36

Note 10 - Share-based Compens_3

Note 10 - Share-based Compensation (Details Textual) - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Jun. 08, 2020	Apr. 30, 2020	Apr. 24, 2020	Jan. 29, 2020	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Amount Capitalized						$ 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				$ 3.15
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						515,036				300,432
Share-based Payment Arrangement, Expensed and Capitalized, Amount, Total						$ 569,000
Share-based Payment Arrangement, Expense						$ 412,000	737,000		$ 756,000	$ 2,333,000	$ 2,142,000
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Weighted Average Award Vesting Period (Year)						3 years
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total								$ 148,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)										338,418
Non-employee Directors and Employees [Member]
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 2.40						2.40			$ 2.40
Non-employee Directors and Employees [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)										2 years 109 days
Non-employee Directors and Employees [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)										1 year 292 days
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	180,000						180,000			$ 180,000
Management [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					113,976
Director [Member] | Restricted Stock Units (RSUs) [Member]
Number of Share-based Awards Granted Quarterly, Numerator in Ratio	92,500						92,500			92,500
Number of Share-based Awards Granted Quarterly, Denominator in Ratio	$ 4						4			$ 4
Director [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Payment Arrangement, Expense				$ 613,000			$ 55,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	23,122			122,997
Director [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Payment Arrangement, Expense								$ 55,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		23,123
Former Board Members [Member]
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)			29,625
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total			$ 148,000
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
Maximum [Member] | Director [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)							2 years

Note 10 - Share-based Compens_4

Note 10 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($)	Jan. 29, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based compensation expense	$ 412,000	$ 737,000	$ 756,000	$ 2,333,000	$ 2,142,000
Cost of Goods Sold [Member]
Share-based compensation expense			38,000		130,000
Research and Development Expense [Member]
Share-based compensation expense		357,000	293,000	1,088,000	788,000
Selling, General and Administrative Expenses [Member]
Share-based compensation expense		$ 380,000	$ 425,000	$ 1,245,000	$ 1,224,000

Note 10 - Share-based Compens_5

Note 10 - Share-based Compensation - Stock Option Activity (Details) - $ / shares	Jan. 29, 2020	Sep. 30, 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 219 days	6 years 219 days
Stock options granted (in shares)	515,036	300,432
Stock options granted, weighted average exercise price (in dollars per share)	$ 5.32	$ 3.15
Stock options exercised (in shares)
Stock options exercised, weighted average exercise price (in dollars per share)
Stock options canceled (in shares)		(43,083)
Stock options canceled, weighted average exercise price (in dollars per share)		$ 13.19
Stock options outstanding, end of period (in shares)		1,078,813	821,464
Balance, weighted average exercise price, end of period (in dollars per share)		$ 6.04	$ 18.99
Exercisable and vested (in shares)		574,574
Exercisable and vested, weighted average exercise price (in dollars per share)		$ 7.77
Exercisable and vested, weighted average remaining contractual term (Year)		6 years 146 days

Note 10 - Share-based Compens_6

Note 10 - Share-based Compensation - Summary of Non-vested RSUs (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 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	338,418
RSUs granted, weighted average grant date fair value per share (in dollars per share) | $ / shares	$ 3.99
RSUs vested, shares (in shares) | shares	97,796
RSUs vested, weighted average grant date fair value per share (in dollars per share) | $ / shares	$ 5.99
RSUs forefeited, shares (in shares) | shares	56,161
RSUs forfeited, weighted average grant date fair value per share (in dollars per share) | $ / shares	$ 3.75
Balance, shares (in shares) | shares	221,442
Balance, weighted average grant date fair value per share (in dollars per share) | $ / shares	$ 4.26

Note 11 - Net Loss Per Share -

Note 11 - Net Loss Per Share - Anti-dilutive Securities (Details) - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive securities (in shares)	3,522,820	3,310,096
Share-based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	1,078,813	837,308
Restricted Stock Units (RSUs) [Member]
Antidilutive securities (in shares)	8,200	36,981
Warrant [Member]
Antidilutive securities (in shares)	2,435,807	2,435,807

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Expense (Benefit), Total	$ 0	$ 0	$ 0	$ 0
Deferred Tax Liabilities, Net, Total	$ 0		$ 0

Note 13 - Related Party Trans_2

Note 13 - Related Party Transactions (Details Textual) - BSLF, L.L.C. [Member] - Funding Agreement [Member] - USD ($)	Nov. 04, 2020	Sep. 30, 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
Due from Related Parties, Total		$ 762,000
Subsequent Event [Member]
Proceeds from Collections of Related Party Receivables	$ 762,000

Note 14 - Subsequent Events (De

Note 14 - Subsequent Events (Details Textual) - Subsequent Event [Member] - USD ($)	Nov. 07, 2020	Nov. 04, 2020	Oct. 07, 2020
Paycheck Protection Program CARES Act [Member]
Debt Instrument, Pending Forgiveness Amount			$ 506,413
Debt Instrument, Amount Forgiven	$ 506,413
Funding Agreement [Member] | BSLF, L.L.C. [Member]
Proceeds from Collections of Related Party Receivables		$ 762,000