Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 16, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | WINDTREE THERAPEUTICS INC /DE/ | |
Entity Central Index Key | 0000946486 | |
Trading Symbol | wint | |
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) | 16,921,482 | |
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, $0.001 par value |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 22,356 | $ 22,578 |
Prepaid expenses and other current assets | 1,692 | 1,283 |
Total current assets | 24,048 | 23,861 |
Property and equipment, net | 702 | 798 |
Restricted cash | 154 | 154 |
Operating lease right-of-use assets | 855 | 1,390 |
Intangible assets | 77,090 | 77,090 |
Goodwill | 15,682 | 15,682 |
Total assets | 118,531 | 118,975 |
Current Liabilities: | ||
Accounts payable | 726 | 1,708 |
Collaboration and device development payable, net | 1,972 | |
Accrued expenses | 4,279 | 3,226 |
Operating lease liabilities - current portion | 605 | 750 |
Loans payable - current portion | 704 | 161 |
Total current liabilities | 6,314 | 7,817 |
Operating lease liabilities - non-current portion | 358 | 794 |
Loans payable - non-current portion | 2,364 | 4,608 |
Restructured debt liability - contingent milestone payments | 15,000 | 15,000 |
Other liabilities | 2,400 | |
Deferred tax liabilities | 16,370 | 15,821 |
Total liabilities | 42,806 | 44,040 |
Stockholders' Equity: | ||
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding at September 30, 2020 and December 31, 2019 | ||
Common stock, $0.001 par value; 120,000,000 shares authorized at September 30, 2020 and December 31, 2019; 16,921,506 and 13,697,419 shares issued at September 30, 2020 and December 31, 2019, respectively; 16,921,482 and 13,697,395 shares outstanding at September 30, 2020 and December 31, 2019, respectively | 17 | 14 |
Additional paid-in capital | 788,996 | 763,097 |
Accumulated deficit | (710,234) | (685,122) |
Treasury stock (at cost); 24 shares | (3,054) | (3,054) |
Total stockholders' equity | 75,725 | 74,935 |
Total liabilities & stockholders' equity | $ 118,531 | $ 118,975 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
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 authorize (in shares) | 120,000,000 | 120,000,000 |
Common stock, shares issued (in shares) | 16,921,506 | 13,697,419 |
Common stock, shares outstanding (in shares) | 16,921,482 | 13,697,395 |
Treasury stock, shares (in shares) | 24 | 24 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues | $ 198 | |||
Expenses: | ||||
Research and development | 3,882 | 3,792 | 11,838 | 10,547 |
General and administrative | 4,823 | 3,395 | 11,518 | 9,990 |
Total operating expenses | 8,705 | 7,187 | 23,356 | 20,537 |
Operating loss | (8,705) | (7,187) | (23,356) | (20,339) |
Other (expense) income: | ||||
Interest income | 21 | 25 | 115 | 124 |
Interest expense | (46) | (105) | (121) | (358) |
Other (expense) income, net | (290) | 141 | (1,750) | 473 |
Total other (expense) income, net | (315) | 61 | (1,756) | 239 |
Net loss | $ (9,020) | $ (7,126) | $ (25,112) | $ (20,100) |
Net loss per common share Basic and diluted (in dollars per share) | $ (0.54) | $ (0.66) | $ (1.65) | $ (1.87) |
Weighted average number of common shares outstanding Basic and diluted (in shares) | 16,579 | 10,730 | 15,228 | 10,724 |
License [Member] | ||||
Revenues | $ 198 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net loss | $ (9,020) | $ (7,126) | $ (25,112) | $ (20,100) |
Other comprehensive income: | ||||
Unrealized (loss) gain on marketable securities | (12) | |||
Comprehensive loss | $ (9,020) | $ (7,138) | $ (25,112) | $ (20,100) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 10,711,000 | ||||||
Balance at Dec. 31, 2018 | $ 11 | $ 728,804 | $ (657,647) | $ (3,054) | $ 68,114 | ||
Net loss | (6,537) | (6,537) | |||||
Vesting of restricted stock units (in shares) | 18,000 | ||||||
Vesting of restricted stock units | |||||||
Withholding tax payments related to net share settlements of restricted stock units | (151) | (151) | |||||
Stock-based compensation expense | 1,530 | 1,530 | |||||
Unrealized gain (loss) on marketable securities | 40 | 40 | |||||
Balance (in shares) at Mar. 31, 2019 | 10,729,000 | ||||||
Balance at Mar. 31, 2019 | $ 11 | 730,183 | (664,184) | 40 | $ (3,054) | 62,996 | |
Balance (in shares) at Dec. 31, 2018 | 10,711,000 | ||||||
Balance at Dec. 31, 2018 | $ 11 | 728,804 | (657,647) | $ (3,054) | 68,114 | ||
Net loss | (20,100) | ||||||
Unrealized gain (loss) on marketable securities | |||||||
Balance (in shares) at Sep. 30, 2019 | 10,729,000 | ||||||
Balance at Sep. 30, 2019 | $ 11 | 733,861 | (677,747) | $ (3,054) | 53,071 | ||
Balance (in shares) at Mar. 31, 2019 | 10,729,000 | ||||||
Balance at Mar. 31, 2019 | $ 11 | 730,183 | (664,184) | 40 | $ (3,054) | 62,996 | |
Net loss | (6,437) | (6,437) | |||||
Stock-based compensation expense | 1,739 | 1,739 | |||||
Unrealized gain (loss) on marketable securities | (28) | (28) | |||||
Balance (in shares) at Jun. 30, 2019 | 10,729,000 | ||||||
Balance at Jun. 30, 2019 | $ 11 | 731,922 | (670,621) | 12 | $ (3,054) | 58,270 | |
Net loss | (7,126) | (7,126) | |||||
Stock-based compensation expense | 1,939 | 1,939 | |||||
Unrealized gain (loss) on marketable securities | (12) | (12) | |||||
Balance (in shares) at Sep. 30, 2019 | 10,729,000 | ||||||
Balance at Sep. 30, 2019 | $ 11 | 733,861 | (677,747) | $ (3,054) | $ 53,071 | ||
Balance (in shares) at Dec. 31, 2019 | 13,697,000 | 13,697,395 | |||||
Balance at Dec. 31, 2019 | $ 14 | 763,097 | (685,122) | $ (3,054) | $ 74,935 | ||
Net loss | (6,534) | (6,534) | |||||
Stock-based compensation expense | 1,689 | 1,689 | |||||
Balance (in shares) at Mar. 31, 2020 | 13,697,000 | ||||||
Balance at Mar. 31, 2020 | $ 14 | 764,786 | (691,656) | $ (3,054) | $ 70,090 | ||
Balance (in shares) at Dec. 31, 2019 | 13,697,000 | 13,697,395 | |||||
Balance at Dec. 31, 2019 | $ 14 | 763,097 | (685,122) | $ (3,054) | $ 74,935 | ||
Net loss | (25,112) | ||||||
Unrealized gain (loss) on marketable securities | |||||||
Balance (in shares) at Sep. 30, 2020 | 16,922,000 | 16,921,482 | |||||
Balance at Sep. 30, 2020 | $ 17 | 788,996 | (710,234) | $ (3,054) | $ 75,725 | ||
Balance (in shares) at Mar. 31, 2020 | 13,697,000 | ||||||
Balance at Mar. 31, 2020 | $ 14 | 764,786 | (691,656) | $ (3,054) | 70,090 | ||
Net loss | (9,558) | (9,558) | |||||
Stock-based compensation expense | 1,566 | 1,566 | |||||
Issuance of common stock and common stock warrants, net of issuance costs (in shares) | 3,172,000 | ||||||
Issuance of common stock and common stock warrants, net of issuance costs | $ 3 | 20,243 | 20,246 | ||||
Modification of warrants | 1,112 | 1,112 | |||||
Balance (in shares) at Jun. 30, 2020 | 16,869,000 | ||||||
Balance at Jun. 30, 2020 | $ 17 | 787,707 | (701,214) | $ (3,054) | 83,456 | ||
Net loss | (9,020) | (9,020) | |||||
Stock-based compensation expense | 1,148 | 1,148 | |||||
Unrealized gain (loss) on marketable securities | |||||||
Vesting of restricted stock units (in shares) | 35,000 | ||||||
Vesting of restricted stock units | |||||||
Exercise of common stock warrants (in shares) | 18,000 | ||||||
Exercise of common stock warrants | 141 | $ 141 | |||||
Balance (in shares) at Sep. 30, 2020 | 16,922,000 | 16,921,482 | |||||
Balance at Sep. 30, 2020 | $ 17 | $ 788,996 | $ (710,234) | $ (3,054) | $ 75,725 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (25,112) | $ (20,100) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Recognition of deferred revenue | (198) | |
Depreciation | 123 | 178 |
Amortization of debt discount | 3 | 127 |
Stock-based compensation | 4,403 | 5,208 |
Non-cash expense related to warrant modifications | 1,112 | |
Non-cash lease expense | 535 | 741 |
Realized gain on investments | (75) | |
Changes in: | ||
Prepaid expenses and other current assets | 645 | 389 |
Accounts payable | (982) | (2,813) |
Collaboration and device development payable | (1,975) | (830) |
Accrued expenses | 1,053 | (1,166) |
Operating lease liabilities | (581) | (784) |
Other liabilities | 119 | |
Net cash used in operating activities | (20,776) | (19,204) |
Cash flows from investing activities: | ||
Proceeds from sale of marketable securities | 13,988 | |
Purchase of property and equipment | (27) | (129) |
Net cash (used in) provided by investing activities | (27) | 13,859 |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock and warrants, net of issuance costs | 20,246 | |
Proceeds from research and development funding arrangement | 2,400 | |
Proceeds from exercise of common stock warrants | 141 | |
Proceeds from Payroll Protection Program loan | 547 | |
Principle payments on Payroll Protection Program loan | (547) | |
Principle payments on loans payable | (2,877) | (820) |
Payment for taxes related to net share settlements of restricted stock units | (151) | |
Net cash provided by (used in) financing activities | 19,910 | (971) |
Effect of exchange rate changes on cash and cash equivalents | 671 | (451) |
Net decrease in cash, cash equivalents, and restricted cash | (222) | (6,767) |
Cash, cash equivalents, and restricted cash - beginning of period | 22,732 | 11,358 |
Cash, cash equivalents, and restricted cash - end of period | 22,510 | 4,591 |
Prepayment of insurance through 3rd party financing | $ 1,056 | $ 708 |
Note 1 - The Company and Descri
Note 1 - The Company and Description of Business | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 The Company and Description of Business We are a clinical-stage, biopharmaceutical and medical device company focused on the development of novel therapeutics intended to address significant unmet medical needs in important acute care markets. Our development programs are primarily focused in the treatment of acute cardiovascular and pulmonary diseases. Our lead cardiovascular product candidate, istaroxime, a first two 2 KL4 KL4 2, 2, 19, 2a KL4 In December 2018, In May 2020, The reader is referred to, and encouraged to read in its entirety, “Item 1 10 December 31, 2019 April 3, 2020 |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 2 Basis of Presentation These interim unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or US GAAP, for interim financial information in accordance with the instructions to Form 10 not three nine September 30, 2020 not may December 31, 2020 no December 31, 2019 December 31, 2019 10 December 31, 2019 The interim unaudited condensed consolidated financial statements reflect the 1 3 April 29, 2020. |
Note 3 - Liquidity Risks and Ma
Note 3 - Liquidity Risks and Management's Plans | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Liquidity Disclosures [Text Block] | Note 3 Liquidity Risks and Management's Plans We are subject to risks common to companies in the biotechnology industry, including but not may third We have incurred net losses since inception. Our net loss was $9.0 $7.1 three September 30, 2020 2019 $25.1 $20.1 nine September 30, 2020 2019 September 30, 2020 $710.2 In May 2020, $20.2 May 2020 3,172,413 413,793 $7.25 one one $7.975 five In March 2020, August 2020, August 12, 2020, $2.8 September 1, 2020 six November 12, 2020, $1.0 2021, We believe that our cash and cash equivalents as of the filing of our Quarterly Report on Form 10 September 30, 2020 twelve not Our funding requirements, however, are based on estimates that are subject to risks and uncertainties and may no 19 may |
Note 4 - Summary of Significant
Note 4 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 4 Summary of Significant Accounting Policies Principles of Consolidation The interim unaudited condensed consolidated financial statements are prepared in accordance with US GAAP and include accounts of Windtree Therapeutics, Inc. and its wholly-owned subsidiaries, CVie Investments Limited, CVie Therapeutics Limited; and a presently inactive subsidiary, Discovery Laboratories, Inc. (formerly known as Acute Therapeutics, Inc.). Goodwill and Intangible Assets We record acquired identified intangibles, which includes intangible assets (such as goodwill and other intangibles), based on estimated fair value. The acquired in-process research and development, or IPR&D, assets are considered indefinite-lived intangible assets until completion or abandonment of the associated research and development efforts. IPR&D is not may September 30, 2020 December 31, 2019 (in thousands) Carrying Value Istaroxime drug candidate $ 22,340 Rostafuroxin drug candidate 54,750 Total $ 77,090 Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in a business combination and is not may Foreign Currency Transactions The functional currency for our foreign subsidiaries is US Dollars. We remeasure monetary assets and liabilities that are not other (expense) income, net losses $0.3 gains $0.1 three September 30, 2020 2019 losses $0.6 gains $0.4 nine September 30, 2020 2019 Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents are held at domestic and foreign financial institutions and consist of liquid investments, money market funds, and U.S. Treasury notes with a maturity from date of purchase of 90 Severance In July 2020, two August 2021 2020, 2020, 2020. $0.9 August 2021. three September 30, 2020 $0.2 Restructured Debt Liability – Contingent Milestone Payment In conjunction with the November 2017 8 $15.0 October 27, 2017, not Research and Development We account for research and development expense by the following categories: (a) product development and manufacturing, (b) medical and regulatory operations, and (c) direct preclinical and clinical development programs. Research and development expense includes personnel, facilities, manufacturing and quality operations, pharmaceutical and device development, research, clinical, regulatory, other preclinical and clinical activities and medical affairs. Research and development costs are charged to operations as incurred in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 730, Research and Development Net Loss per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per common share is computed by giving effect to all potentially dilutive securities outstanding for the period. As of September 30, 2020 2019 9.8 5.2 three nine September 30, 2020 2019 Income Taxes We account for income taxes in accordance with ASC Topic 740, Accounting for Income Taxes We use a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Because we have never realized a profit, management has fully reserved the net deferred tax asset since realization is not COVID- 19 We are subject to risks and uncertainties as a result of the COVID- 19 not 19, 2 19 19 may 19 one may 19 one may fourth 2020 We are not may may may Recently Issued Accounting Standards Recent Accounting Pronouncements In December 2019, 2019 12, Income Taxes (Topic 740 2019 12. 2019 12 740 December 15, 2020 not |
Note 5 - Fair Value of Financia
Note 5 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 5 Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three first two ● Level 1 ● Level 2 1 not ● Level 3 no Fair Value on a Recurring Basis The tables below categorize assets and liabilities measured at fair value on a recurring basis for the periods presented: Fair Value Fair value measurement using September 30, (in thousands) 2020 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 4,605 $ 4,605 $ - $ - U.S. Treasury notes 14,997 14,997 - - Total Assets $ 19,602 $ 19,602 $ - $ - Fair Value Fair value measurement using December 31, (in thousands) 2019 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 1,819 $ 1,819 $ - $ - U.S. Treasury notes 18,230 18,230 - - Total Assets $ 20,049 $ 20,049 $ - $ - |
Note 6 - Collaboration and Devi
Note 6 - Collaboration and Device Development Payable | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 6 Collaboration and Device Development Payable Restructuring of the Battelle Payables In March 2020, first December 2018 two no January 2020. first first no April 15, 2020; second 3 no September 1, 2020. no In April 2020, first $0.8 first 2 September 2020, $0.8 |
Note 7 - Loans Payable
Note 7 - Loans Payable | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | Note 7 Loans Payable Loans Payable – Current Portion Loan payable to Bank Direct Capital Finance In May 2019, $0.7 5.35% December 31, 2019 $0.2 March 31, 2020. In June 2020, $1.1 4.26% $117,000 July 2020 March 2021. September 30, 2020 $0.7 Loans Payable – Non-current Portion Assumption of bank debt as part of the CVie Acquisition In September 2016, 12 $2.9 $5.8 September 2017. 110% 90 0.91%. September 11, 2019 six March 11, 2020. March 2020, March 2022, $5.0 1.17% 24 As of September 30, 2020 December 31, 2019 $2.4 $4.6 second 2020, 50% $2.3 August 2020. November 2020, |
Note 8 - Restructured Debt Liab
Note 8 - Restructured Debt Liability | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | Note 8 Restructured Debt Liability On November 1, 2017, $25.0 8,333 $2,360.40 $2.5 23,703 2% $15.0 $15.0 5 not As of September 30, 2020 December 31, 2019 $15.0 |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 9 Stockholders' Equity Warrant Amendments On April 24, 2020, December 24, 2018, No. 1 June 24, 2020 December 24, 2020 not 90 December 24, 2020. May 22, 2020 May 2020 On May 6, 2020, December 6, 2019, No. 1 $12.09 $9.67 December 5, 2021. 90 December 24, 2020. not May 22, 2020 May 2020 While there is no 718 20, Compensation – Stock Compensation 718 20. For the Series F Warrants, the amendment to the terms related to a six 18 We have determined, based on the guidance in ASC 718 20 $1.1 May 2020 On May 20, 2020, May 2020 2,758,620 one $7.975 five May 2020 In addition, we granted the Underwriters a 45 413,793 413,793 The closing of the May 2020 May 22, 2020, $7.25 $2.8 May 2020 $20.2 We have determined that the appropriate accounting treatment under ASC 480, Distinguishing Liabilities from Equity 480, May 2020 not 815, Derivatives and Hedging 815, 815 10 15 74, May 2020 At-The-Market Program On September 17, 2020, may $10.0 not November 16, 2020 not may may 415 4 1933, 3 No. 333 248874 September 17, 2020, September 29, 2020, Either party may may five We agreed to pay Ladenburg a commission of 3% not not $50,000 $3,000 |
Note 10 - Stock Options and Sto
Note 10 - Stock Options and Stock-based Employee Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 10 Stock Options and Stock-Based Employee Compensation We recognize in our condensed consolidated financial statements all stock-based awards to employees and non-employee directors based on their fair value on the date of grant, calculated using the Black-Scholes option-pricing model. Compensation expense related to stock-based awards is recognized ratably over the vesting period, which for employees is typically three six 18 A summary of activity under our long-term incentive plan is presented below: (in thousands, except for weighted-average data) Stock Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (In Yrs) Outstanding at January 1, 2020 1,772 $ 17.61 Granted 537 7.25 Forfeited or expired (402 ) 12.52 Outstanding at September 30, 2020 1,907 $ 15.76 8.0 Vested and exercisable at September 30, 2020 779 $ 23.23 6.8 Vested and expected to vest at September 30, 2020 1,813 $ 15.76 8.0 During the nine September 30, 2020 35,000 September 30, 2020 no The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing formula based on the following weighted average assumptions: Nine Months Ended September 30, 2020 2019 Weighted average expected volatility 103% 95% Weighted average expected term (in years) 7.0 6.6 Weighted average risk-free interest rate 0.54% 2.60% Expected dividends - - The table below summarizes the total stock-based compensation expense included in the interim unaudited condensed consolidated statements of operations for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Research and development $ 309 $ 574 $ 1,619 $ 1,613 General and administrative 839 1,365 2,784 3,595 Total $ 1,148 $ 1,939 $ 4,403 $ 5,208 |
Note 11 - Collaboration, Licens
Note 11 - Collaboration, Licensing and Research Funding Agreements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Corporate Partnership, Licensing and Research Funding Agreements [Text Block] | Note 11 Collaboration, Licensing and Research Funding Agreements In March 2020, August 2020, $2.4 September 30, 2020 $0.4 October 2020. September 1, 2020 six November 12, 2020, $1.0 2021, To repay the funds provided under the terms of the PF Agreement, until such time as we have repaid 125% 50% KL4/AEROSURF June 12, 2017, third not We have determined that the Term Sheet is within the scope of ASC 730 20, Research and Development Arrangements 730 20. not 29% We have determined that the appropriate accounting treatment under ASC 730 20 KL4/AEROSURF We have also determined that the Term Sheet is not 815, 815 10 15 59, As of September 30, 2020 $2.4 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The interim unaudited condensed consolidated financial statements are prepared in accordance with US GAAP and include accounts of Windtree Therapeutics, Inc. and its wholly-owned subsidiaries, CVie Investments Limited, CVie Therapeutics Limited; and a presently inactive subsidiary, Discovery Laboratories, Inc. (formerly known as Acute Therapeutics, Inc.). |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangible Assets We record acquired identified intangibles, which includes intangible assets (such as goodwill and other intangibles), based on estimated fair value. The acquired in-process research and development, or IPR&D, assets are considered indefinite-lived intangible assets until completion or abandonment of the associated research and development efforts. IPR&D is not may September 30, 2020 December 31, 2019 (in thousands) Carrying Value Istaroxime drug candidate $ 22,340 Rostafuroxin drug candidate 54,750 Total $ 77,090 Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in a business combination and is not may |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Transactions The functional currency for our foreign subsidiaries is US Dollars. We remeasure monetary assets and liabilities that are not other (expense) income, net losses $0.3 gains $0.1 three September 30, 2020 2019 losses $0.6 gains $0.4 nine September 30, 2020 2019 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents are held at domestic and foreign financial institutions and consist of liquid investments, money market funds, and U.S. Treasury notes with a maturity from date of purchase of 90 |
Severance Cost [Policy Text Block] | Severance In July 2020, two August 2021 2020, 2020, 2020. $0.9 August 2021. three September 30, 2020 $0.2 |
Restructured Debt Liability, Contingent Milestone Payment, Policy [Policy Text Block] | Restructured Debt Liability – Contingent Milestone Payment In conjunction with the November 2017 8 $15.0 October 27, 2017, not |
Research and Development Expense, Policy [Policy Text Block] | Research and Development We account for research and development expense by the following categories: (a) product development and manufacturing, (b) medical and regulatory operations, and (c) direct preclinical and clinical development programs. Research and development expense includes personnel, facilities, manufacturing and quality operations, pharmaceutical and device development, research, clinical, regulatory, other preclinical and clinical activities and medical affairs. Research and development costs are charged to operations as incurred in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 730, Research and Development |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per common share is computed by giving effect to all potentially dilutive securities outstanding for the period. As of September 30, 2020 2019 9.8 5.2 three nine September 30, 2020 2019 |
Income Tax, Policy [Policy Text Block] | Income Taxes We account for income taxes in accordance with ASC Topic 740, Accounting for Income Taxes We use a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Because we have never realized a profit, management has fully reserved the net deferred tax asset since realization is not |
Effect of COVID-19 Pandemic [Policy Text Block] | COVID- 19 We are subject to risks and uncertainties as a result of the COVID- 19 not 19, 2 19 19 may 19 one may 19 one may fourth 2020 We are not may may may |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards Recent Accounting Pronouncements In December 2019, 2019 12, Income Taxes (Topic 740 2019 12. 2019 12 740 December 15, 2020 not |
Note 4 - Summary of Significa_2
Note 4 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | (in thousands) Carrying Value Istaroxime drug candidate $ 22,340 Rostafuroxin drug candidate 54,750 Total $ 77,090 |
Note 5 - Fair Value of Financ_2
Note 5 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Fair value measurement using September 30, (in thousands) 2020 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 4,605 $ 4,605 $ - $ - U.S. Treasury notes 14,997 14,997 - - Total Assets $ 19,602 $ 19,602 $ - $ - Fair Value Fair value measurement using December 31, (in thousands) 2019 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 1,819 $ 1,819 $ - $ - U.S. Treasury notes 18,230 18,230 - - Total Assets $ 20,049 $ 20,049 $ - $ - |
Note 10 - Stock Options and S_2
Note 10 - Stock Options and Stock-based Employee Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | (in thousands, except for weighted-average data) Stock Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (In Yrs) Outstanding at January 1, 2020 1,772 $ 17.61 Granted 537 7.25 Forfeited or expired (402 ) 12.52 Outstanding at September 30, 2020 1,907 $ 15.76 8.0 Vested and exercisable at September 30, 2020 779 $ 23.23 6.8 Vested and expected to vest at September 30, 2020 1,813 $ 15.76 8.0 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Nine Months Ended September 30, 2020 2019 Weighted average expected volatility 103% 95% Weighted average expected term (in years) 7.0 6.6 Weighted average risk-free interest rate 0.54% 2.60% Expected dividends - - |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Research and development $ 309 $ 574 $ 1,619 $ 1,613 General and administrative 839 1,365 2,784 3,595 Total $ 1,148 $ 1,939 $ 4,403 $ 5,208 |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation (Details Textual) | Apr. 29, 2020 |
Reverse Stock Split [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 3 |
Note 3 - Liquidity Risks and _2
Note 3 - Liquidity Risks and Management's Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 31, 2020 | May 22, 2020 | Jan. 31, 2021 | Oct. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 |
Net Income (Loss) Attributable to Parent, Total | $ (9,020) | $ (9,558) | $ (6,534) | $ (7,126) | $ (6,437) | $ (6,537) | $ (25,112) | $ (20,100) | |||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (710,234) | $ (710,234) | $ (685,122) | ||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 20,200 | ||||||||||||
Equity Issued During Period, Units, New Issues (in shares) | 3,172,413 | ||||||||||||
Units Issued, Price Per Unit (in dollars per share) | $ 7.25 | ||||||||||||
Units, Number of Securities Called by Each Unit (in shares) | 1 | ||||||||||||
AEROSURF Funding Term Sheet [Member] | Lee’s Pharmaceutical Holdings Limited [Member] | Subsequent Event [Member] | |||||||||||||
Nonrefundable Payments | $ 2,800 | ||||||||||||
Term Sheet With Lee [Member] | Forecast [Member] | |||||||||||||
Proceeds for Payments to Develop Product | $ 1,000 | ||||||||||||
Term Sheet With Lee [Member] | Subsequent Event [Member] | |||||||||||||
Proceeds for Payments to Develop Product | $ 400 | ||||||||||||
Warrants Issued in Units [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 7.975 | ||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||||
Over-Allotment Option [Member] | |||||||||||||
Equity Issued During Period, Units, New Issues (in shares) | 413,793 | ||||||||||||
Units Issued, Price Per Unit (in dollars per share) | $ 7.25 |
Note 4 - Summary of Significa_3
Note 4 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands, shares in Millions | Jul. 20, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Nov. 01, 2017 |
Foreign Currency Transaction Gain (Loss), before Tax, Total | $ (300) | $ 100 | $ (600) | $ 400 | |||
Liability for Contingent Milestone Payment, Noncurrent | $ 15,000 | $ 15,000 | $ 15,000 | ||||
Number of Shares of Common Stock Potentially Issuable upon the Exercise of Stock Options and Warrants (in shares) | 9.8 | 5.2 | |||||
Deerfield Loan [Member] | Exchange and Termination Agreement [Member] | Deerfield Management, L.P. [Member] | |||||||
Liability for Contingent Milestone Payment, Noncurrent | $ 15,000 | ||||||
John A. Tattory and Kathryn Cole [Member] | |||||||
Severance Costs | $ 900 | ||||||
Payments for Severance Costs | $ 200 |
Note 4 - Summary of Significa_4
Note 4 - Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Indefinite intangible asset | $ 77,090 | $ 77,090 |
Istaroxime Drug Candidate [Member] | ||
Indefinite intangible asset | 22,340 | |
Rostafuroxin Drug Candidate [Member] | ||
Indefinite intangible asset | $ 54,750 |
Note 5 - Fair Value of Financ_3
Note 5 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Total Assets | $ 19,602 | $ 20,049 |
Fair Value, Inputs, Level 1 [Member] | ||
Total Assets | 19,602 | 20,049 |
Fair Value, Inputs, Level 2 [Member] | ||
Total Assets | ||
Fair Value, Inputs, Level 3 [Member] | ||
Total Assets | ||
Money Market Funds [Member] | ||
Cash equivalents | 4,605 | 1,819 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash equivalents | 4,605 | 1,819 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash equivalents | ||
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash equivalents | ||
US Treasury Securities [Member] | ||
Cash equivalents | 14,997 | 18,230 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash equivalents | 14,997 | 18,230 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash equivalents | ||
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash equivalents |
Note 6 - Collaboration and De_2
Note 6 - Collaboration and Device Development Payable (Details Textual) - USD ($) $ in Millions | 1 Months Ended | |
Apr. 30, 2020 | Sep. 30, 2020 | |
Payments for Collaboration and Device Development Payable | $ 0.8 | |
Contractual Obligation, Total | $ 0.8 |
Note 7 - Loans Payable (Details
Note 7 - Loans Payable (Details Textual) - USD ($) | Mar. 20, 2020 | Aug. 31, 2020 | Jun. 30, 2020 | Sep. 30, 2017 | Jun. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | May 31, 2019 | Sep. 30, 2016 |
Revolving Credit Facility [Member] | O-Bank Co., Ltd. [Member] | |||||||||
Line of Credit Facility, Percent of Pledged Deposits Required | 110.00% | ||||||||
Loans Payable, Total | $ 4,600,000 | ||||||||
Line of Credit Facility, Percent of Pledged Deposits Increase (Decrease) | (50.00%) | ||||||||
Repayments of Lines of Credit | $ 2,300,000 | ||||||||
Revolving Credit Facility [Member] | O-Bank Co., Ltd. [Member] | Taipei Interbank Offer Rate (TAIBOR) [Member] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.91% | ||||||||
Nonrevolving Credit Facility [Member] | O-Bank Co., Ltd. [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | ||||||||
Debt Instrument, Term (Month) | 2 years | ||||||||
Nonrevolving Credit Facility [Member] | O-Bank Co., Ltd. [Member] | Taipei Interbank Offer Rate (TAIBOR) [Member] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.17% | ||||||||
CVie Investments [Member] | Revolving Credit Facility [Member] | O-Bank Co., Ltd. [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,800,000 | $ 2,900,000 | |||||||
Loan payable to Bank Direct Capital Finance [Member] | Loans Payable [Member] | |||||||||
Debt Instrument, Face Amount | $ 1,100,000 | $ 1,100,000 | $ 700,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.26% | 4.26% | 5.35% | ||||||
Loans Payable to Bank, Total | $ 700,000 | $ 200,000 | |||||||
Debt Instrument, Periodic Payment, Total | $ 117,000 |
Note 8 - Restructured Debt Li_2
Note 8 - Restructured Debt Liability (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Nov. 01, 2017 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 |
Repayments of Long-term Debt, Total | $ 547 | |||
Liability for Contingent Milestone Payment, Noncurrent | 15,000 | $ 15,000 | ||
Deerfield Loan [Member] | Exchange and Termination Agreement [Member] | Deerfield Management, L.P. [Member] | ||||
Extinguishment of Debt, Amount | $ 25,000 | |||
Class of Warrant or Right, Number of Warrants Cancelled (in shares) | 8,333 | |||
Class of Warrant or Right, Exercise Price of Cancelled Warrants (in dollars per share) | $ 2,360.40 | |||
Repayments of Long-term Debt, Total | $ 2,500 | |||
Stock Issued During Period, Shares, Cancellation of Debt and Warrant Obligations (in shares) | 23,703 | |||
Stock Issued During Period, Shares, Cancellation of Debt and Warrant Obligations, Percentage of Fully-diluted Shares Outstanding | 2.00% | |||
Liability for Contingent Milestone Payment, Noncurrent | $ 15,000 | $ 15,000 | $ 15,000 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Details Textual) - USD ($) | Sep. 17, 2020 | May 22, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | May 06, 2020 | Dec. 06, 2019 |
Fair Value Adjustment of Warrants | $ 1,112,000 | |||||
Equity Issued During Period, Units, New Issues (in shares) | 3,172,413 | |||||
Units, Number of Securities Called by Each Unit (in shares) | 1 | |||||
Units Issued, Price Per Unit (in dollars per share) | $ 7.25 | |||||
Payments of Stock Issuance Costs | $ 2,800,000 | |||||
Proceeds from Issuance or Sale of Equity, Total | $ 20,200,000 | |||||
Public Offering [Member] | ||||||
Equity Issued During Period, Units, New Issues (in shares) | 2,758,620 | |||||
Over-Allotment Option [Member] | ||||||
Equity Issued During Period, Units, New Issues (in shares) | 413,793 | |||||
Units Issued, Price Per Unit (in dollars per share) | $ 7.25 | |||||
September 2020 At The Market Offering [Member] | Ladenburg [Member] | ||||||
Commission Fee, Percent Fee | 3.00% | |||||
Equity Offering Fees Reimbursement Maximum Amount | $ 50,000 | |||||
Equity Offering Legal Fees Reimbursement Maximum Amount | $ 3,000 | |||||
Series I Warrants Issued with Offering [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 9.67 | $ 12.09 | ||||
Series I and F Warrants Issued with Offering [Member] | ||||||
Fair Value Adjustment of Warrants | $ 1,100,000 | |||||
Warrants Issued in Units [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 7.975 | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||
Over Allotment Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 413,793 |
Note 10 - Stock Options and S_3
Note 10 - Stock Options and Stock-based Employee Compensation (Details Textual) | 9 Months Ended |
Sep. 30, 2020shares | |
Restricted Stock Units (RSUs) [Member] | |
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 35,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 0 |
Restricted Stock Units (RSUs) [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Year) | 180 days |
Restricted Stock Units (RSUs) [Member] | Maximum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Year) | 1 year 180 days |
The 2011 Long-term Incentive Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Year) | 3 years |
Note 10 - Stock Options and S_4
Note 10 - Stock Options and Stock-based Employee Compensation - Summary of Stock Option Activity (Details) shares in Thousands | 9 Months Ended |
Sep. 30, 2020$ / sharesshares | |
Shares Outstanding, Beginning Balance (in shares) | shares | 1,772 |
Weighted Average Exercise Price, Outstanding, at Beginning Period (in dollars per share) | $ / shares | $ 17.61 |
Shares Granted (in shares) | shares | 537 |
Weighted Average Exercise Price, Granted (in dollars per share) | $ / shares | $ 7.25 |
Shares Forfeited or Expired (in shares) | shares | (402) |
Weighted Average Exercise Price, Forfeited or Expired (in dollars per share) | $ / shares | $ 12.52 |
Shares Outstanding, Ending Balance (in shares) | shares | 1,907 |
Weighted Average Exercise Price, Outstanding, at Ending Period (in dollars per share) | $ / shares | $ 15.76 |
Weighted Average Remaining Contractual Life, Outstanding (Year) | 8 years |
Shares Vested and Exercisable (in shares) | shares | 779 |
Weighted Average Exercise Price, Vested and Exercisable (in dollars per share) | $ / shares | $ 23.23 |
Weighted Average Remaining Contractual Life, Vested and Exercisable (Year) | 6 years 292 days |
Vested and expected to vest (in shares) | shares | 1,813 |
Weighted Average Exercise Price, Vested and Expected to Vest (in dollars per share) | $ / shares | $ 15.76 |
Weighted Average Remaining Contractual Life, Vested and Expected to Vest (Year) | 8 years |
Note 10 - Stock Options and S_5
Note 10 - Stock Options and Stock-based Employee Compensation - Stock Options Valuation Assumptions (Details) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Weighted average expected volatility | 103.00% | 95.00% |
Weighted average expected term (Year) | 7 years | 6 years 219 days |
Weighted average risk-free interest rate | 0.54% | 2.60% |
Expected dividends |
Note 10 - Stock Options and S_6
Note 10 - Stock Options and Stock-based Employee Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Stock-based compensation expense | $ 1,148 | $ 1,939 | $ 4,403 | $ 5,208 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 309 | 574 | 1,619 | 1,613 |
General and Administrative Expense [Member] | ||||
Stock-based compensation expense | $ 839 | $ 1,365 | $ 2,784 | $ 3,595 |
Note 11 - Collaboration, Lice_2
Note 11 - Collaboration, Licensing and Research Funding Agreements (Details Textual) - USD ($) $ in Millions | 1 Months Ended | |||
Jan. 31, 2021 | Oct. 31, 2020 | Sep. 30, 2020 | Mar. 18, 2020 | |
Contractual Obligation, Total | $ 0.8 | |||
Lee’s Pharmaceutical Holdings Limited [Member] | Windtree Therapeutics [Member] | ||||
Equity Method Investment, Ownership Percentage | 29.00% | |||
Term Sheet With Lee [Member] | ||||
Financing of Product, Percent of Financing That Must be Repaid to Discontinue Revenue Sharing | 125.00% | |||
Financing of Product, Percent of Revenue Shared With Financer | 50.00% | |||
Term Sheet With Lee [Member] | Other Liabilities [Member] | ||||
Contractual Obligation, Total | $ 2.4 | |||
Term Sheet With Lee [Member] | Forecast [Member] | ||||
Proceeds for Payments to Develop Product | $ 1 | |||
Term Sheet With Lee [Member] | Subsequent Event [Member] | ||||
Proceeds for Payments to Develop Product | $ 0.4 |