AIM ImmunoTech (AIM) 10-Q 15 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Mar. 01, 2018
Document And Entity Information
Entity Registrant Name	HEMISPHERX BIOPHARMA INC
Entity Central Index Key	946,644
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		46,202,997
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 3,957	$ 1,412
Marketable securities	682	695
Accounts receivable	29	24
Assets held for sale		764
Prepaid expenses and other current assets	995	610
Total current assets	5,663	3,505
Property and equipment, net	8,370	8,586
Patent and trademark rights, net	858	858
Other assets	1,369	1,258
Total assets	16,260	14,207
Current liabilities:
Accounts payable	850	741
Accrued expenses	1,578	1,966
Current portion of financing obligation	222
Total current liabilities	2,650	2,707
Long-term liabilities:
Note Payable		1,835
Financing obligation arising from sale leaseback transaction (Note 13)	2,439
Redeemable warrants	971	962
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value $0.01 per share, authorized 5,000,000; issued and outstanding; none
Common stock, par value $0.001 per share, authorized 350,000,000 shares; issued and outstanding 39,219,368 and 32,884,786, respectively	39	33
Additional paid-in capital	321,635	317,419
Accumulated other comprehensive income (loss)	(1)	11
Accumulated deficit	(311,473)	(308,760)
Total stockholders' equity	10,200	8,703
Total liabilities and stockholders' equity	$ 16,260	$ 14,207

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	39,219,368	32,884,786
Common stock, shares outstanding	39,219,368	32,884,786

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Total revenues	$ 56	$ 84
Costs and expenses:
Production costs	208	270
Research and development	855	1,391
General and administrative	1,563	1,664
Total costs and expenses	2,626	3,325
Operating loss	(2,570)	(3,241)
Interest and other income	4	26
Interest expense and finance costs	(139)
Redeemable warrants valuation adjustment	(231)	393
Gain on sale of building	223
Gain on sale of short term marketable securities		1
Net loss	(2,713)	(2,821)
Other comprehensive income:
Reclassification adjustments for loss on sales of short term marketable securities included in net loss		(1)
Unrealized loss on marketable securities	(12)	12
Net comprehensive loss	$ (2,725)	$ (2,810)
Basic and diluted loss per share	$ (0.07)	$ (0.11)
Weighted average shares outstanding, basic and diluted	36,269,388	25,341,068
US [Member]
Revenues:
Clinical treatment programs	$ 13	$ 23
Europe [Member]
Revenues:
Clinical treatment programs	$ 43	$ 61

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2017	$ 33	$ 317,419	$ 11	$ (308,760)	$ 8,703
Balance, shares at Dec. 31, 2017	32,884,786
Equity-based compensation		286			286
Equity-based compensation, shares	438,385
Warrants issued for building sale leaseback		1,149			1,149
Redeemable warrants		221			221
Common stock issuance, net of costs	$ 5	2,321			2,326
Common stock issuance, net of costs, shares	5,375,288
Common stock issued to settle accounts payable	$ 1	239			240
Common stock issued to settle accounts payable, shares	520,909
Net comprehensive (loss)			(12)	(2,713)	(2,725)
Balance at Mar. 31, 2018	$ 39	$ 321,635	$ (1)	$ (311,473)	$ 10,200
Balance, shares at Mar. 31, 2018	39,219,368

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (2,713)	$ (2,821)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	216	261
Redeemable warrants valuation adjustment	231	(393)
Amortization and abandonment of patent and trademark rights	15	13
Equity-based compensation	286	52
Gain on sale of building	(223)
Amortization of Finance costs and debt settlement expenses	140
Change in assets and liabilities:
Accounts receivable	(6)	(41)
Prepaid expenses and other current assets	(385)	(328)
Accounts payable	245	103
Accrued expenses	(348)	161
Net cash used in operating activities	(2,542)	(2,993)
Cash flows from investing activities:
Sale of marketable securities		500
Purchase of property, equipment and construction in progress		(3)
Proceeds from sale of underutilized building	1,050
Additions to patent and trademark rights	(14)	(11)
Net cash provided by investing activities	1,036	486
Cash flows from financing activities:
Proceeds from lease financing obligation	4,080
Settlement costs of lease financing obligation	(268)
Payment of financing obligation	(19)
Payoff of mortgage note payable	(1,957)
Security deposit paid	(111)
Proceeds from sale of stock, net of issuance costs	2,326	875
Net cash provided by financing activities	4,051	875
Net increase (decrease) in cash and cash equivalents	2,545	(1,632)
Cash and cash equivalents at beginning of period	1,412	2,408
Cash and cash equivalents at end of period	3,957	776
Supplemental disclosures of non-cash investing and financing cash flow information:
Unrealized gain (loss) on marketable securities	(12)	12
Stock issued to settle accounts payable	240	67
Fair value of redeemable warrants granted		$ 734

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Note 1: Business and Basis of Presentation Hemispherx Biopharma, Inc. and its subsidiaries (collectively, “Hemispherx”, “Company”, “we” or “us”) are a specialty pharmaceutical company headquartered in Orlando, Florida and engaged in the development of new drug therapies based on natural immune system enhancing technologies for the treatment of viral and immune based disorders. We have established a strong foundation of laboratory, pre-clinical and clinical data with respect to the development of natural interferon and nucleic acids to enhance the natural antiviral defense system of the human body and to aid the development of therapeutic products for the treatment of certain chronic diseases. Our flagship products include Alferon N Injection® and the experimental therapeutic Ampligen®. Alferon N Injection is approved for a category of Sexually Transmitted Disease (“STD”) infection, and Ampligen represents an experimental Ribonucleic Acid (“RNA”) being developed for globally important viral diseases and disorders of the immune system. Hemispherx’ platform technology includes components for the potential treatment of various severely debilitating and life-threatening diseases. The Company has incurred numerous years of substantial operating losses as it pursued its clinical and pre-clinical development activities and appropriate regulatory approval processes before any such products can be sold and marketed. As of March 31, 2018, our accumulated deficit was approximately $311,473,000. The Company has not yet generated significant revenues from our products and may incur substantial losses in the future. The Company evaluated these conditions and events that may raise substantial doubt about the Company’s ability to continue as a going concern; however, the Company believes that it has alleviated the substantial doubt by implementing certain actions. The Company reexamined its fundamental priorities in terms of direction, corporate culture and its ability to fund operations. As a result, there were significant changes at the Company including the Company restructuring its executive management team, initiating the pursuit of international sales of clinical grade materials, and implementing a cost saving program which assisted the Company in gained efficiencies and eliminated redundancies within its workforce. Also, the Company is committed to a focused business plan oriented toward finding senior co-development partners with the capital and expertise needed to commercialize the many potential therapeutic aspects of our experimental drug, Ampligen, and our approved drug, Alferon N Injection. Lastly, the Company plans to access the public equity markets to raise further capital. In the opinion of Management, all adjustments necessary for a fair presentation of such consolidated financial statements have been included. Such adjustments consist of normal recurring items. Interim results are not necessarily indicative of results for a full year. The interim consolidated financial statements and notes thereto are presented as permitted by the Securities and Exchange Commission (“SEC”), and do not contain certain information which will be included in the Company’s annual consolidated financial statements and notes thereto. These consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the years ended December 31, 2017 and 2016, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Loss Per Share	Note 2: Net Loss Per Share Basic and diluted net loss per share is computed using the weighted average number of shares of common stock outstanding during the period. Equivalent common shares, consisting of stock options and warrants which amounted to 11,105,515 and 10,881,033 shares for the three months ended March 31, 2018 and 2017, respectively, are excluded from the calculation of diluted net loss per share since their effect is anti-dilutive.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	Note 3: Equity-Based Compensation The fair value of each option and equity warrant award is estimated on the date of grant using a Black-Scholes-Merton option pricing valuation model. Expected volatility is based on the historical volatility of the price of the Company’s stock. The risk-free interest rate is based on U.S. Treasury issues with a term equal to the expected life of the option and equity warrant. The Company uses historical data to estimate expected dividend yield, expected life and forfeiture rates. There were 1,336,505 options granted in the three months ended March 31, 2018 and none in the three months ended March 31, 2017. Stock option for employees’ activity during the three months ended March 31, 2018 is as follows: Stock option activity for employees: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding January 1, 2018 1,203,918 $ 5.91 6.89 $ — Granted 884,459 0.37 — — Forfeited (15,833 ) 12.00 — — Outstanding March 31, 2018 2,072,544 $ 3.50 8.11 $ — Vested and expected to vest March 31, 2018 2,072,544 $ 3.50 8.11 $ — Exercisable March 31, 2018 919,807 $ 6.46 5.62 $ — Unvested stock option activity for employees: Number of Options Weighted Average Exercise Price Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Unvested January 1, 2018 366,148 $ 0.48 9.62 $ — Granted 884,459 0.37 — — Vested (97,870 ) 0.43 — — Forfeited — — — — Unvested March 31, 2018 1,152,737 $ 0.40 9.79 $ — Stock option activity for non-employees: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding January 1, 2018 834,876 $ 2.70 6.69 $ — Granted 452,046 0.37 — — Exercised — — — — Forfeited (14,250 ) 32.77 — — Outstanding March 31, 2018 1,272,672 $ 1.54 7.77 $ — Vested and expected to vest March 31, 2018 1,272,672 $ 1.54 7.77 $ — Exercisable March 31, 2018 444,119 $ 3.71 6.03 $ — Unvested stock option activity for non-employees: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Unvested January 1, 2018 464,659 $ 0.36 7.84 $ — Granted 452,046 0.37 — — Vested (88,152 ) 0.40 — — Forfeited - - — — Unvested March 31, 2018 828,553 $ 0.36 8.64 $ — Stock-based compensation expense was approximately $286,000 and $52,000 for the three months ended March 31, 2018 and 2017 resulting in an increase in general and administrative expenses and loss per share of $0.01 and $0.00, respectively. As of March 31, 2018 and 2017, respectively, there was $755,000 and $135,000 of unrecognized equity-based compensation cost related to options granted under the Equity Incentive Plan.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Note 4: Inventories The Company uses the lower of first-in, first-out (“FIFO”) cost or net realizable value method of accounting for inventory. Commercial sales of Alferon will not resume until new batches of commercial filled and finished product are produced and released by the FDA. While the facility is approved by the FDA under the Biological License Application (“BLA”) for Alferon, this status will need to be reaffirmed by an FDA pre-approval inspection. The Company will also need the FDA’s approval to release commercial product once it has submitted satisfactory stability and quality release data. Due to the Company extending the timeline of Alferon production to an excess of one year, the Company reclassified Alferon Work-In-Process inventory of $1,115,000 to other assets within the Company’s balance sheet.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 31, 2018
Marketable Securities [Abstract]
Marketable Securities	Note 5: Marketable Securities Marketable securities consist of mutual funds. For the three months ended March 31, 2018 and 2017, it was determined that none of the marketable securities had other-than-temporary impairments. At March 31, 2018 and December 31, 2017, all securities were classified as available for sale investments and were measured as Level 1 instruments of the fair value measurements standard. Securities classified as available for sale consisted of: March 31, 2018 (in thousands) Securities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-Term Investments Long Term Investments Mutual Funds $ 683 $ - $ (1 ) $ 682 $ 682 $ — Totals $ 683 $ - $ (1 ) $ 682 $ 682 $ — December 31, 2017 (in thousands) Securities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-Term Investments Long Term Investments Mutual Funds $ 684 $ 11 $ — $ 695 $ 695 $ — Totals $ 684 $ 11 $ — $ 695 $ 695 $ — Unrealized losses on investments As of March 31, 2018 there was one investment of $682,000 in a loss position of $(1,000) for less than 12 months.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Accrued Expenses	Note 6: Accrued Expenses Accrued expenses consist of the following: (in thousands) March 31, 2018 December 31, 2017 Compensation $ 871 $ 569 Professional fees 91 506 Clinical trial expenses 84 310 Other expenses 532 581 $ 1,578 $ 1,966

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 7: Property and Equipment (in thousands) March 31, 2018 December 31, 2017 Land, buildings and improvements $ 10,547 $ 10,547 Furniture, fixtures, and equipment 5,084 5,625 Total property and equipment 15,631 16,172 Less: accumulated depreciation and amortization (7,261 ) (7,586 ) Property and equipment, net $ 8,370 $ 8,586 Property and equipment are recorded at cost. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the respective assets, ranging from three to thirty-nine years. On March 16, 2018, the Company sold land and a building for $4,080,000 and concurrently entered into an agreement to lease the property back for ten years. The lease payments are initially $408,000 per year for two years through March 31, 2020 and will escalate in subsequent years. (See Note 13 – Financing Obligation Arising from Sale Leaseback Transaction for more details on the sale leaseback of the property and equipment). In February 2018, the Company sold the building located adjacent to its manufacturing facility located at 5 Jules Lane, New Brunswick, New Jersey to an unaffiliated party. The purchase price was $1,050,000 and the Company netted $963,000 in cash.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Stockholders' Equity	Note 8: Stockholders’ Equity (a) Preferred Stock The Company is authorized to issue 5,000,000 shares of $0.01 par value preferred stock with such designations, rights and preferences as may be determined by the Board of Directors. There were no Preferred Shares issued and outstanding as of March 31, 2018 and December 31, 2017. (b) Common Stock The Company’s stockholders approved an amendment to the Company’s corporate Charter at the Annual Shareholder Meeting held in Philadelphia, PA in 2011. This amendment increased the Company’s authorized shares from 200,000,000 to 350,000,000 with specific limitations and restrictions on the usage of 75,000,000 of the 150,000,000 newly authorized shares. In September 2015, the Company’s stockholders removed the limitations and restrictions on 67,000,000 shares. The Company’s stockholders approved up to an additional 60,000,000 shares for use in capital raising transactions and 7,000,000 shares for use in the Equity Plan of 2009. In August 2016, the Company effected a 12 to 1 reverse stock split of the outstanding shares, in order to become compliant with the NYSE regulations. This did not affect the number of authorized shares. In September 2016, the Company entered into Securities Purchase Agreements with certain investors for the sale by the Company of 3,333,334 shares of its common stock at a purchase price of $1.50 per share and sold warrants to purchase 2,500,000 shares of Common Stock for aggregate net proceeds of $4,520,000 after deducting certain fees due to the placement agent and the Company’s transaction expenses. The net proceeds received by the Company from the Security Purchase Agreement provided funds for preparation for technology transfer opportunities, expenses related to Ampligen manufacturing, working capital and general corporate purposes. Subject to certain ownership limitations, the warrants were initially exercisable six-months after issuance at an exercise price equal to $2.00 per share of Common Stock, subject to adjustments as provided under the terms of the warrants. The warrants are exercisable for five years from the initial exercise date. In June 2017, pursuant to an offer to the holders of the foregoing warrants (the “Exchange Transaction”), the exercise price of the foregoing warrants was changed to $0.50. As a result, the warrant holders exercised these warrants and purchased 2,370,000 shares of company common stock. As part of the Exchange Transaction, the Company issued 2,370,000 series A warrants with an exercise price of $0.60 per share, an initial exercise date of December 1, 2017 and expiring March 6, 2022 and 7,584,000 series B warrants with an exercise price of $0.60, an initial exercise date December 1, 2017 per share and expiring March 1, 2018, which were exercised as described below. The Company received net proceeds from the foregoing transaction of approximately $1,055,000, after deducting certain fees due to the placement agent and the Company’s transaction expenses. In July 2017, the warrant holders exercised the remaining 130,000 warrants issued in September 2016 and purchased 130,000 shares of common stock. The Company realized additional net proceeds of $65,000 from this exercise. In conjunction with the foregoing the Company issued an additional 130,000 series A warrants and 416,000 series B warrants with an exercise price of $0.60 and an initial exercise date of January 10, 2018. The net proceeds received by the Company from these offerings provided funds for preparation for technology transfer opportunities, expenses related to Ampligen manufacturing, working capital and general corporate purposes. The 2,800,000 warrants with an expiration date of March 1, 2018 and an exercise price on $0.45 were exercised in January and February 2018. The Company realized proceeds of $1,260,000 from these exercises. Pursuant to an engagement agreement, the Company paid its placement agent an aggregate fee equal to 7% and 10.5%, respectively, of the gross proceeds received by the Company from the sale of the securities in the offerings and granted to its placement agent or its designees warrants to purchase up to 5% of the aggregate number of shares sold in the transactions amounting to 166,667 and 107,759, respectively, unregistered warrants. The placement agent warrants have substantially the same terms as the investor warrants, except that the 166,667 placement agent warrants issued in September 2017 will expire September 1, 2021 and have an exercise price equal to $1.875 per share of common stock and the 107,759 placement agent warrants issued in June 2017 will expire June 1, 2022 and have an exercise price of $0.625. In August 2017, the Holders of the series A warrants and series B warrants exchanged all of their warrants for new warrants (respectively, the “Series A Exchange Warrants” and the “Series B Exchange Warrants” and, collectively, the “Exchange Warrants”) identical to the series A warrants and series B warrants except as follows: the exercise price of both Exchange Warrants is $0.45 per share, subject to adjustment therein, and the number of Series B Exchange Warrants issued was proportionately reduced so that all Exchange Warrants in the Exchange Transaction do not exceed 19.9% of the number of the Company’s issued and outstanding shares of Common Stock as of May 31, 2017, the date of the Exchange Transaction offer letters. The issuance of the Exchange Warrants by the Company and the shares of Common Stock issuable upon exercise of the Exchange Warrants is exempt from registration pursuant to Sections 3(a)(9) and 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). In February 2017, the Company entered into Securities Purchase Agreements (each, a “February Purchase Agreement”) with certain investors for the sale by us of 1,818,185 shares of its common stock at a purchase price of $0.55 per share. Concurrently with the sale of the common stock, pursuant to the February Purchase Agreement, the Company also sold unregistered warrants to purchase 1,363,639 shares of common stock for aggregate net proceeds of approximately $875,000. The warrants have an exercise price of $0.75 per share, are exercisable six months after issuance, and will expire five years from the initial exercise date. Pursuant to an engagement agreement, the Company paid its placement agent an aggregate fee equal to 7% of the gross proceeds received by the Company from the sale of the securities in the offering and granted to its placement agent or its designees warrants to purchase up to 5% of the aggregate number of shares sold in the transactions amounting to 90,910 unregistered warrants. The placement agent warrants have substantially the same terms as the investor warrants, except that the placement agent warrants will expire on February 1, 2,022 and have an exercise price equal to $0.6875 per share of common stock. The common stock issued in the above referenced September 6, 2016 and February 1, 2017 offerings were offered and sold by the Company pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the SEC in June 2015 and subsequently declared effective on August 4, 2015 (Registration No. 333-205228) and the base prospectus dated as of August 4, 2015 contained therein. The Company filed a prospectus supplements related to these offerings with the SEC on September 1, 2016 and February 3, 2017, respectively, in connection with the sale of the common stock. The common stock issued pursuant to the above June 1, 2017 exercise of warrants were issued pursuant to an effective registration statement on Form S-1, which was initially filed with the SEC in May 2017 as subsequently amended and declared effective on May 23, 2017 (Registration No. 333-217671) and the prospectus supplement filed with the SEC on May 23, 2017. On July 23, 2012, the Company entered into an equity distribution agreement with Maxim (the “EDA”) pursuant to which it could sell up to $75,000,000 worth of our shares of common stock from time to time through Maxim, as sales agent. Under the EDA, Maxim is entitled to a fixed commission rate of 4.0% of the gross sales price of shares sold under the EDA, up to aggregate gross proceeds of $10,000,000, and thereafter, at a fixed commission rate of 3.0% of the gross sales price of shares sold under the EDA. The Company has no obligation to sell any of the shares and may at any time suspend offers under the EDA or terminate the EDA. Sales under the EDA were suspended on April 20, 2018 for a period of 60 days. On November 27, 2017, the Company reactivated the EDA. During the three months ended March 31, 2018, the Company sold an aggregate of 1,325,288 shares under the EDA for proceeds of $609,000 net of $18,000 in commissions. Pursuant to a prospectus supplement dated February 7, 2018, the Company was able to sell up to 6,549,157 of its common stock (inclusive of shares already sold under the prospectus supplement) under the EDA. The actual number of shares that the Company can sell and the proceeds to be received there from are dependent upon the market price of its common stock. On March 24, 2018, the Company sold 1,250,000 shares of common stock. The Company realized net proceeds of $475,000 from this stock offering. As of March 31, 2018 and December 31, 2016, there were 39,219,368 and 32,884,786 shares outstanding, respectively. The Equity Incentive Plan of 2009, effective June 24, 2009, as amended, authorizes the grant of non-qualified and incentive stock options, stock appreciation rights, restricted stock and other stock awards. A maximum of 22,000,000 shares of common stock is reserved for potential issuance pursuant to awards under the Equity Incentive Plan of 2009. Unless sooner terminated, the Equity Incentive Plan of 2009 will continue in effect for a period of 10 years from its effective date. For the three months ended March 31, 2018, there were 1,336,505 options granted by the Company.

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Note 9 Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 10: Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09 (ASU 2014-09), Revenue from Contracts with Customers In January 2016, the (“FASB”) has issued Accounting Standards Update (ASU) No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02 - Leases, In August 2016, the FASB issued ASU 2016-15 - In 2018, the FASB also issued Accounting Standards Updates (“ASU”) 2018-01 through 2018-05. These updates did not have a significant impact on the financial statements.

Note Payable

Note Payable	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Note Payable	Note 11: Note Payable In May 2017, the Company entered into a mortgage and note payable agreement with a bridge funding company to obtain a two-year funding line of up to $4,000,000 secured by the property and assets located at 783 Jersey Avenue, New Brunswick, New Jersey. The Company borrowed $1,900,000 of the line in monthly advances including accrued interest as of December 31, 2017. The Company was able to request future advances in excess of $2,000,000 at the lender’s discretion and be payable in full upon maturity. The Company paid interest on this note at a fixed rate of 12% per annum for the first 18 months and change to a rate equal to 800 basis points above the prime rate of interest during the remainder of the term; however, the interest rate was not to be less than 12% for the entire term. The note was interest only and payable monthly through the maturity. The Company was permitted to prepay the line without penalty commencing after six months. The balance on the note at December 31, 2017 was $1,835,000 ($1,900,000 less unamortized deferred finance costs of $65,000). The note was paid off on March 16, 2018 in conjunction with the sale leaseback of the Company’s above property and assets at an amount of $1,956,803, which included all accrued interest and fees (See also Note 7 – Property and Equipment).

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value	Note 12: Fair Value The Company is required under GAAP to disclose information about the fair value of all the Company’s financial instruments, whether or not these instruments are measured at fair value on the Company’s consolidated balance sheets. The Company estimates that the fair values of cash and cash equivalents, other assets, accounts payable and accrued expenses approximate their carrying values due to the short-term maturities of these items. The Company also has certain warrants with a cash settlement feature in the unlikely occurrence of a Fundamental Transaction. The fair value of the redeemable warrants (“Warrants”) related to the Company’s August 2016, February 2017, June 2017 and August 2017 common stock and warrant issuance, are calculated using a Monte Carlo Simulation. While the Monte Carlo Simulation is one of a number of possible pricing models, the Company has determined it to be industry accepted and fairly presented the fair value of the Warrants. As an additional factor to determine the fair value of the Put’s liability, the occurrence probability of a Fundamental Transaction event was factored into the valuation. The Company recomputes the fair value of the Warrants at the issuance date and the end of each quarterly reporting period. Such value computation includes subjective input assumptions that are consistently applied each period. If the Company were to alter its assumptions or the numbers input based on such assumptions, the resulting fair value could be materially different. The Company utilized the following assumptions to estimate the fair value of the August 2016 Warrants: March 31, 2018 December 31, 2017 Underlying price per share $ 0.40 $ 0.35 Exercise price per share $ 1.88 $ 1.88 Risk-free interest rate 2.43 % 2.05 % Expected holding period 3.40 3.70 Expected volatility 70 % 65 % Expected dividend yield - - The Company utilized the following assumptions to estimate the fair value of the February 2017 Warrants: March 31, 2018 December 31, 2017 Underlying price per share $ 0.40 $ 0.35 Exercise price per share $ 0.69-0.75 $ 0.69-$0.75 Risk-free interest rate 2.46 % 2.10 % Expected holding period 3.8-3.9 4.10 Expected volatility 70 % 65 % Expected dividend yield - - The Company utilized the following assumptions to estimate the fair value of the June 2017 Warrants: March 31, 2018 December 31, 2017 Underlying price per share $ 0.40 $ 0.35 Exercise price per share $ 0.63 $ 0.63 Risk-free interest rate 2.49 % 2.14 % Expected holding period 4.2 4.4 Expected volatility 70 % 65 % Expected dividend yield - - The Company utilized the following assumptions to estimate the fair value of the August 2017 Warrants: March 31, 2018 December 31, 2017 Underlying price per share $ 0.40 $ 0.35 Exercise price per share $ 0.45 $ 0.45 Risk-free interest rate 2.47 % 1.33%-2.11% Expected holding period 3.9 0.2-4.2 Expected volatility 70 % 65 % Expected dividend yield - - The significant assumptions using the Monte Carlo Simulation approach for valuation of the Warrants are: (i) Risk-Free Interest Rate (ii) Expected Holding Period (iii) Expected Volatility (iv) Expected Dividend Yield (v) Expected Probability of a Fundamental Transaction. a. The Company only has one product that is FDA approved but which will not be available for commercial sales for 18 months at the earliest; b. The Company may have to perform additional clinical trials for FDA approval of its flagship product; c. Industry and market conditions continue to include a global market recession, adding risk to any transaction; d. Available capital for a potential buyer in a cash transaction continues to be limited; e. The nature of a life sciences company is heavily dependent on future funding and high costs, including Research & Development; f. The Company has minimal revenues streams which are insufficient to meet the funding needs for the cost of operations or construction at their manufacturing facility; and g. The Company’s Rights Agreement and Executive Agreements make it less attractive to a potential buyer. With the above factors utilized in analysis of the likelihood of the Put’s potential Liability, the Company estimated the range of probabilities related to a Put right being triggered as: Range of Probability Probability Low 0.5 % Medium 1.0 % High 5.0 % The Monte Carlo Simulation has incorporated a 5.0% probability of a Fundamental Transaction to date for the life of the securities. (vi) Expected Timing of Announcement of a Fundamental Transaction. (vii) Expected 100 Day Volatility at Announcement of a Fundamental Transaction (viii) Expected Risk-Free Interest Rate at Announcement of a Fundamental Transaction (ix) Expected Time Between Announcement and Consummation of a Fundamental Transaction. While the assumptions remain consistent from period to period (e.g., utilizing historical stock prices), the numbers input change from period to period (e.g., the actual historical prices input for the relevant period). The carrying amount and estimated fair value of the above Warrants was approximately $971,000 at March 31, 2018 and $962,000 at December 31, 2017. The Company applies FASB ASC 820 (formerly Statement No. 157 Fair Value Measurements FASB ASC 820-10-35-37 (formerly SFAS No. 157) establishes a valuation hierarchy based on the transparency of inputs used in the valuation of an asset or liability. Classification is based on the lowest level of inputs that is significant to the fair value measurement. The valuation hierarchy contains three levels: ● Level 1 – Quoted prices are available in active markets for identical assets or liabilities at the reporting date. Generally, this includes debt and equity securities that are traded in an active market. ● Level 2 – Observable inputs other than Level 1 prices such as quote prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Generally, this includes debt and equity securities that are not traded in an active market. ● Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or other valuation techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. As of March 31, 2018, the Company has classified the warrants with cash settlement features as Level 3. Management evaluates a variety of inputs and then estimates fair value based on those inputs. As discussed above, the Company utilized the Monte Carlo Simulation Model in valuing these warrants. The table below presents the balances of assets and liabilities measured at fair value on a recurring basis by level within the hierarchy as: (in thousands) As of March 31, 2018 Total Level 1 Level 2 Level 3 Assets: Marketable securities $ 682 $ 682 $ - $ - Liabilities: Redeemable warrants $ 971 - - $ 971 (in thousands) As of December 31, 2017 Total Level 1 Level 2 Level 3 Assets: Marketable Securities $ 695 $ 695 $ - $ - Liabilities: Redeemable warrants $ 962 - - $ 962 The changes in Level 3 Liabilities measured at fair value on a recurring basis are summarized as follows (in thousands): Balance at December 31, 2017 $ 962 Warrants exercised and cancelled (222 ) Fair value adjustments 231 Balance at March 31, 2018 $ 971

Financing Obligation Arising fr

Financing Obligation Arising from Sale Leaseback Transaction	3 Months Ended
	Mar. 31, 2018
Leases [Abstract]
Financing Obligation Arising from Sale Leaseback Transaction	Note 13: Financing Obligation Arising from Sale Leaseback Transaction On March 16, 2018, the Company sold land and a building for $4,080,000 and concurrently entered into an agreement to lease the property back for ten years at $408,000 per year for two years through March 31, 2020. The lease payments will increase 2.5% per year for the next three years through March 31, 2023 and the lease payments will increase 3% for the remaining five years through March 31, 2028. The sale of the property includes an option to repurchase the property at fair value which does not permanently transfer all the risks and rewards of ownership to the buyer. The option to repurchase the property also would be at a higher price than the sales price and is considered likely based upon the Company’s plans going forward. Because the sale of the property includes the option to repurchase the property and includes the above attributes, the transaction was accounted for as a financing transaction whereby the Company debited cash for the amount of cash received and credit financing obligation. The Company will continue to report the property as an asset and the property will continue to be depreciated. The fair value repurchase option is accounted for similar to a share appreciation mortgage. Accordingly, the guidance in ASC 470-30 related to participating mortgage loans would be applied to the liability. If the option expires unused, the sale is recognized at that time. The gain on the sale would be the excess of the liability (current fair value of the property) over its carrying amount. If the option is exercised, the cash payment by the seller-lessee is to pay off the financing obligation. As part of the sale of this building, warrants were provided to the buyer for the purchase of up to 3,225,806 shares of Company common stock for a period of five years at an exercise price of $0.3875 per share, 125% of the closing price of the common stock on the NYSE American on the date of execution of the letter of intent for the purchase. The warrants cannot be exercised to the extent that any exercise would result in the purchaser owning in excess of 4.99% of our issued and outstanding shares of common stock. The Property and equipment in Note 7 above are the property and equipment involved in this transaction. Depreciation on the building will continue until a sale has been recognized. Future minimum payments required under the Financing Obligation and the balance of the Finance Obligation as of March 31, 2018, are as follows: During the year ending March 31: (in thousands) 2018 $ 374 2019 408 2020 419 2021 429 2022 439 Thereafter 2,402 Total of payments 4,471 Less deferred settlement costs (265 ) Less discount on debt instrument (1,139 ) Less imputed interest (406 ) Total Balance 2,661 Less Current portion 222 Long term portion $ 2,439 Interest expense relating to this financing agreement was $16,000 for the three months ended March 31, 2018.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 14: Subsequent Events The Company evaluated subsequent events through the date on which these financial statements were issued and determined that no subsequent event, other than the above, constituted a matter that required adjustment to the financial statements for the three months ended March 31, 2018. On April 20, 2018 the Company entered into Securities Purchase Agreements for the sale by the Company of an aggregate of 6,600,000 shares at a purchase price of $0.39 per share. Concurrently with the sale of the shares, the Company also sold 6,600,000 warrants, 50% of which are Class A Warrants and 50% of which are Class B Warrants. The Company realized $2,343,820 from this sale. In May 2017, Hemispherx filed a complaint in the Philadelphia County Court of Common Pleas Civil Trial Division against Nitto Avecia Pharma Services, Inc. ("NAPS"), the successor to Avrio Biopharmaceuticals, LLC (“Avrio”), primarily for breach of contract. In March of 2018, the parties agreed to fully resolve their dispute by agreement for a satisfactory payment of $200,000 to Hemispherx and the return of its manufacturing equipment. Final documentation of the settlement was executed on April 23, 2018 by the parties and has fully resolved the parties' claims and disputes.

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Employees [Member]
Schedule of Stock Option Activity	Stock option activity for employees: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding January 1, 2018 1,203,918 $ 5.91 6.89 $ — Granted 884,459 0.37 — — Forfeited (15,833 ) 12.00 — — Outstanding March 31, 2018 2,072,544 $ 3.50 8.11 $ — Vested and expected to vest March 31, 2018 2,072,544 $ 3.50 8.11 $ — Exercisable March 31, 2018 919,807 $ 6.46 5.62 $ —
Schedule of Unvested Stock Option Activity	Unvested stock option activity for employees: Number of Options Weighted Average Exercise Price Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Unvested January 1, 2018 366,148 $ 0.48 9.62 $ — Granted 884,459 0.37 — — Vested (97,870 ) 0.43 — — Forfeited — — — — Unvested March 31, 2018 1,152,737 $ 0.40 9.79 $ —
Non-Employees [Member]
Schedule of Stock Option Activity	Stock option activity for non-employees: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding January 1, 2018 834,876 $ 2.70 6.69 $ — Granted 452,046 0.37 — — Exercised — — — — Forfeited (14,250 ) 32.77 — — Outstanding March 31, 2018 1,272,672 $ 1.54 7.77 $ — Vested and expected to vest March 31, 2018 1,272,672 $ 1.54 7.77 $ — Exercisable March 31, 2018 444,119 $ 3.71 6.03 $ —
Schedule of Unvested Stock Option Activity	Unvested stock option activity for non-employees: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Unvested January 1, 2018 464,659 $ 0.36 7.84 $ — Granted 452,046 0.37 — — Vested (88,152 ) 0.40 — — Forfeited - - — — Unvested March 31, 2018 828,553 $ 0.36 8.64 $ —

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2018
Marketable Securities [Abstract]
Schedule of Available for Sale	Securities classified as available for sale consisted of: March 31, 2018 (in thousands) Securities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-Term Investments Long Term Investments Mutual Funds $ 683 $ - $ (1 ) $ 682 $ 682 $ — Totals $ 683 $ - $ (1 ) $ 682 $ 682 $ — December 31, 2017 (in thousands) Securities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-Term Investments Long Term Investments Mutual Funds $ 684 $ 11 $ — $ 695 $ 695 $ — Totals $ 684 $ 11 $ — $ 695 $ 695 $ —

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consist of the following: (in thousands) March 31, 2018 December 31, 2017 Compensation $ 871 $ 569 Professional fees 91 506 Clinical trial expenses 84 310 Other expenses 532 581 $ 1,578 $ 1,966

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	(in thousands) March 31, 2018 December 31, 2017 Land, buildings and improvements $ 10,547 $ 10,547 Furniture, fixtures, and equipment 5,084 5,625 Total property and equipment 15,631 16,172 Less: accumulated depreciation and amortization (7,261 ) (7,586 ) Property and equipment, net $ 8,370 $ 8,586

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Assumptions to Estimate Fair Value of Warrants	The Company utilized the following assumptions to estimate the fair value of the August 2016 Warrants: March 31, 2018 December 31, 2017 Underlying price per share $ 0.40 $ 0.35 Exercise price per share $ 1.88 $ 1.88 Risk-free interest rate 2.43 % 2.05 % Expected holding period 3.40 3.70 Expected volatility 70 % 65 % Expected dividend yield - - The Company utilized the following assumptions to estimate the fair value of the February 2017 Warrants: March 31, 2018 December 31, 2017 Underlying price per share $ 0.40 $ 0.35 Exercise price per share $ 0.69-0.75 $ 0.69-$0.75 Risk-free interest rate 2.46 % 2.10 % Expected holding period 3.8-3.9 4.10 Expected volatility 70 % 65 % Expected dividend yield - - The Company utilized the following assumptions to estimate the fair value of the June 2017 Warrants: March 31, 2018 December 31, 2017 Underlying price per share $ 0.40 $ 0.35 Exercise price per share $ 0.63 $ 0.63 Risk-free interest rate 2.49 % 2.14 % Expected holding period 4.2 4.4 Expected volatility 70 % 65 % Expected dividend yield - - The Company utilized the following assumptions to estimate the fair value of the August 2017 Warrants: March 31, 2018 December 31, 2017 Underlying price per share $ 0.40 $ 0.35 Exercise price per share $ 0.45 $ 0.45 Risk-free interest rate 2.47 % 1.33%-2.11% Expected holding period 3.9 0.2-4.2 Expected volatility 70 % 65 % Expected dividend yield - -
Schedule of Range of Probabilities	With the above factors utilized in analysis of the likelihood of the Put’s potential Liability, the Company estimated the range of probabilities related to a Put right being triggered as: Range of Probability Probability Low 0.5 % Medium 1.0 % High 5.0 %
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The table below presents the balances of assets and liabilities measured at fair value on a recurring basis by level within the hierarchy as: (in thousands) As of March 31, 2018 Total Level 1 Level 2 Level 3 Assets: Marketable securities $ 682 $ 682 $ - $ - Liabilities: Redeemable warrants $ 971 - - $ 971 (in thousands) As of December 31, 2017 Total Level 1 Level 2 Level 3 Assets: Marketable Securities $ 695 $ 695 $ - $ - Liabilities: Redeemable warrants $ 962 - - $ 962
Schedule of Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis	The changes in Level 3 Liabilities measured at fair value on a recurring basis are summarized as follows (in thousands): Balance at December 31, 2017 $ 962 Warrants exercised and cancelled (222 ) Fair value adjustments 231 Balance at March 31, 2018 $ 971

Financing Obligation Arising 26

Financing Obligation Arising from Sale Leaseback Transaction (Tables)	3 Months Ended
	Mar. 31, 2018
Leases [Abstract]
Schedule of Future Minimum Payments Under Financing Obligation	Future minimum payments required under the Financing Obligation and the balance of the Finance Obligation as of March 31, 2018, are as follows: During the year ending March 31: (in thousands) 2018 $ 374 2019 408 2020 419 2021 429 2022 439 Thereafter 2,402 Total of payments 4,471 Less deferred settlement costs (265 ) Less discount on debt instrument (1,139 ) Less imputed interest (406 ) Total Balance 2,661 Less Current portion 222 Long term portion $ 2,439

Business and Basis of Present27

Business and Basis of Presentation (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 311,473	$ 308,760

Net Loss Per Share (Details Nar

Net Loss Per Share (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Stock options and warrants	11,105,515	10,881,033

Equity-Based Compensation (Deta

Equity-Based Compensation (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of options granted	1,336,505
Stock-based compensation expense	$ 286	$ 52
Increase in loss per share	$ 0.01	$ 0
Unrecognized equity-based compensation cost	$ 755	$ 135

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Number of options, granted	1,336,505
Employees [Member]
Number of options outstanding, beginning of period	1,203,918
Number of options, granted	884,459
Number of options, forfeited	(15,833)
Number of options outstanding, end of period	2,072,544
Number of options, vested and expected to vest	2,072,544
Number of options exercisable, end of period	919,807
Weighted average exercise price outstanding, beginning of period	$ 5.91
Weighted average exercise price, granted	0.37
Weighted average exercise price, forfeited	12
Weighted average exercise price outstanding, end of period	3.50
Weighted average exercise price, vested and expected to vest	3.50
Weighted average exercise price outstanding, end of period	$ 6.46
Weighted average remaining contracted term (years) outstanding, beginning of period	6 years 10 months 21 days
Weighted average remaining contracted term (years), granted	0 years
Weighted average remaining contracted term (years), forfeited	0 years
Weighted average remaining contracted term (years) outstanding, end of period	8 years 1 month 9 days
Weighted average remaining contracted term (years), vested and expected to vest	8 years 1 month 9 days
Weighted average remaining contracted term (years), exercisable at end of period	5 years 7 months 13 days
Aggregate intrinsic value outstanding, beginning of period
Aggregate intrinsic value, granted
Aggregate intrinsic value, forfeited
Aggregate intrinsic value outstanding, end of period
Aggregate intrinsic value, vested and expected to vest
Aggregate intrinsic value, exercisable at end of period
Non-Employees [Member]
Number of options outstanding, beginning of period	834,876
Number of options, granted	452,046
Number of options, exercised
Number of options, forfeited	(14,250)
Number of options outstanding, end of period	1,272,672
Number of options, vested and expected to vest	1,272,672
Number of options exercisable, end of period	444,119
Weighted average exercise price outstanding, beginning of period	$ 2.70
Weighted average exercise price, granted	0.37
Weighted average exercise price, exercised
Weighted average exercise price, forfeited	32.77
Weighted average exercise price outstanding, end of period	1.54
Weighted average exercise price, vested and expected to vest	1.54
Weighted average exercise price outstanding, end of period	$ 3.71
Weighted average remaining contracted term (years) outstanding, beginning of period	6 years 8 months 9 days
Weighted average remaining contracted term (years), granted	0 years
Weighted average remaining contracted term (years), exercised	0 years
Weighted average remaining contracted term (years), forfeited	0 years
Weighted average remaining contracted term (years) outstanding, end of period	7 years 9 months 7 days
Weighted average remaining contracted term (years), vested and expected to vest	7 years 9 months 7 days
Weighted average remaining contracted term (years), exercisable at end of period	6 years 11 days
Aggregate intrinsic value outstanding, beginning of period
Aggregate intrinsic value, granted
Aggregate intrinsic value, exercised
Aggregate intrinsic value, forfeited
Aggregate intrinsic value outstanding, end of period
Aggregate intrinsic value, vested and expected to vest
Aggregate intrinsic value, exercisable at end of period

Equity-Based Compensation - S31

Equity-Based Compensation - Schedule of Unvested Stock Option Activity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Number of options, granted	1,336,505
Employees [Member]
Number of options unvested, beginning of period	366,148
Number of options, granted	884,459
Number of options, vested	(97,870)
Number of options, forfeited
Number of options unvested, end of period	1,152,737
Weighted average exercise price unvested, beginning of period	$ 0.48
Weighted average exercise price, granted	0.37
Weighted average exercise price, vested	0.43
Weighted average exercise price, forfeited
Weighted average exercise price unvested, end of period	$ 0.40
Average remaining contractual term (years) unvested, beginning of period	9 years 7 months 13 days
Average remaining contractual term (years), granted	0 years
Average remaining contractual term (years), vested	0 years
Average remaining contractual term (years), forfeited	0 years
Average remaining contractual term (years) unvested, end of period	9 years 9 months 14 days
Aggregate intrinsic value unvested, beginning of period
Aggregate intrinsic value, granted
Aggregate intrinsic value, vested
Aggregate intrinsic value, forfeited
Aggregate intrinsic value unvested, end of period
Non-Employees [Member]
Number of options unvested, beginning of period	464,659
Number of options, granted	452,046
Number of options, vested	(88,152)
Number of options, forfeited
Number of options unvested, end of period	828,553
Weighted average exercise price unvested, beginning of period	$ 0.36
Weighted average exercise price, granted	0.37
Weighted average exercise price, vested	0.40
Weighted average exercise price, forfeited
Weighted average exercise price unvested, end of period	$ 0.36
Average remaining contractual term (years) unvested, beginning of period	7 years 10 months 3 days
Average remaining contractual term (years), granted	0 years
Average remaining contractual term (years), vested	0 years
Average remaining contractual term (years), forfeited	0 years
Average remaining contractual term (years) unvested, end of period	8 years 7 months 21 days
Aggregate intrinsic value unvested, beginning of period
Aggregate intrinsic value, granted
Aggregate intrinsic value, vested
Aggregate intrinsic value, forfeited
Aggregate intrinsic value unvested, end of period

Inventories (Details Narrative)

Inventories (Details Narrative) $ in Thousands	Mar. 31, 2018USD ($)
Inventory Disclosure [Abstract]
Work-in-process inventory	$ 1,115

Marketable Securities (Details

Marketable Securities (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Marketable Securities [Abstract]
Investment in marketable securities	$ 682	$ 695
Unrealized losses on investments	$ (1)

Marketable Securities - Schedul

Marketable Securities - Schedule of Available for Sale (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Amortized Cost	$ 683	$ 684
Gross Unrealized Gains		11
Gross Unrealized Losses	(1)
Fair Value	682	695
Short-Term Investments	682	695
Long Term Investments
Mutual Funds [Member]
Amortized Cost	683	684
Gross Unrealized Gains		11
Gross Unrealized Losses	(1)
Fair Value	682	695
Short-Term Investments	682	695
Long Term Investments

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Compensation	$ 871	$ 569
Professional fees	91	506
Clinical Trial expenses	84	310
Other Expenses	532	581
Accrued Expenses	$ 1,578	$ 1,966

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($) $ in Thousands	Mar. 16, 2018	Feb. 28, 2018
Property, Plant and Equipment [Abstract]
Sale of land and buildings	$ 4,080
Lease description	Concurrently entered into an agreement to lease the property back for ten years. The lease payments are initially $408,000 per year for two years through March 31, 2020 and will escalate in subsequent years.
Lease of rent expenses	$ 408
Proceeds from sale of property	$ 4,080	$ 1,050
Sale of property amount netted		$ 963

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Total property and equipment	$ 15,631	$ 16,172
Less: accumulated depreciation and amortization	(7,261)	(7,586)
Property and equipment, net	8,370	8,586
Land, Buildings and Improvements [Member]
Total property and equipment	10,547	10,547
Furniture, Fixtures and Equipment [Member]
Total property and equipment	$ 5,084	$ 5,625

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands

Mar. 24, 2018

Feb. 07, 2018

Jul. 23, 2012

Sep. 30, 2017

Aug. 30, 2017

Jul. 31, 2017

Jun. 30, 2017

Feb. 28, 2017

Sep. 30, 2016

Aug. 31, 2016

Sep. 30, 2015

Mar. 31, 2018

Mar. 31, 2017

Mar. 16, 2018

Dec. 31, 2017

Dec. 31, 2011

Preferred stock, shares authorized

5,000,000

5,000,000

Preferred stock par value

$ 0.01

$ 0.01

Preferred stock, shares issued

Preferred stock, shares outstanding

Common stock, shares authorized

350,000,000

350,000,000

Common stock, restrictions usage

75,000,000

Common stock, increase authorized

150,000,000

Common stock, unrestrictions usage

67,000,000

Reverse stock split description

12 to 1 reverse stock split on the outstanding shares

Number of warrant to purchase shares of common stock

130,000

Proceeds from sale of common stock, net of issuance costs

$ 65

$ 2,326

$ 875

Warrant exercise price per share

$ 0.3875

Warrants issued

130,000

3,225,806

Maximum number of shares issued upon transaction, value

$ 1,250,000

Proceeds from sale of equity

$ 475

Common stock, shares outstanding

39,219,368

32,884,786

Number of shares granted

1,336,505

January and February 2018 [Member]

Number of warrant to purchase shares of common stock

2,800,000

Warrant exercise price per share

$ 0.45

Warrant expiry date

Mar. 1, 2018

Proceeds from exercise of warrants

$ 1,260

Series A and B Exchange Warrant [Member]

Warrant exercise price per share

$ 0.45

Placement Agent [Member]

Proceeds from foregoing transaction

$ 1,055

Securities Purchase Agreement [Member] | Investors [Member]

Number of shares issued upon transaction

3,333,334

Shares issued price per share

$ 1.50

Securities Purchase Agreement [Member] | Investors [Member] | Warrant [Member]

Number of warrant to purchase shares of common stock

2,370,000

2,500,000

Proceeds from sale of common stock, net of issuance costs

$ 4,520

Warrant initially exercisable term

6 months

Warrant exercise price per share

$ 0.50

$ 2

Warrant exercisable term

5 years

Securities Purchase Agreement [Member] | Investors [Member] | Series A Warrant [Member] | December 1, 2017 [Member]

Number of warrant to purchase shares of common stock

2,370,000

Warrant exercise price per share

$ 0.60

Warrant expiry date

Mar. 6, 2022

Securities Purchase Agreement [Member] | Investors [Member] | Series A Warrant [Member] | January 10, 2018 [Member]

Number of warrant to purchase shares of common stock

130,000

Warrant exercise price per share

$ 0.60

Securities Purchase Agreement [Member] | Investors [Member] | Series B Warrant [Member] | December 1, 2017 [Member]

Number of warrant to purchase shares of common stock

7,584,000

Warrant exercise price per share

$ 0.60

Warrant expiry date

Mar. 1, 2018

Securities Purchase Agreement [Member] | Investors [Member] | Series B Warrant [Member] | January 10, 2018 [Member]

Number of warrant to purchase shares of common stock

416,000

Warrant exercise price per share

$ 0.60

Engagement Agreement [Member] | Placement Agent [Member]

Percentage of fixed commissions aggregate gross proceeds

7.00%

10.50%

Engagement Agreement [Member] | Placement Agent [Member] | Warrant [Member]

Shares issued price per share

$ 1.875

$ 0.625

Warrant expiry date

Sep. 1, 2021

Jun. 1, 2022

Percentage of fixed commissions aggregate gross proceeds

5.00%

5.00%

Aggregate number of shares sold in transactions

166,667

107,759

Warrant outstanding

166,667

107,759

February Purchase Agreement [Member] | Investors [Member]

Number of shares issued upon transaction

1,818,185

Shares issued price per share

$ 0.55

Percentage of fixed commissions aggregate gross proceeds

7.00%

February Purchase Agreement [Member] | Investors [Member] | Warrant [Member]

Shares issued price per share

$ 0.6875

Number of warrant to purchase shares of common stock

1,363,639

Proceeds from sale of common stock, net of issuance costs

$ 875

Warrant initially exercisable term

6 months

Warrant exercise price per share

$ 0.75

Warrant exercisable term

5 years

Warrant expiry date

Feb. 1, 2022

Percentage of fixed commissions aggregate gross proceeds

5.00%

Warrant outstanding

90,910

Equity Distribution Agreement [Member]

Number of shares issued upon transaction

1,325,288

Proceeds from sale of common stock, net of issuance costs

$ 609

Commissions paid

$ 18

Equity Distribution Agreement [Member] | Maxim Group LLC [Member]

Maximum number of shares issued upon transaction, value

$ 75,000

Percentage of fixed commissions aggregate gross proceeds up to $10,000,000

4.00%

Proceeds from sale of equity

$ 10,000

Percentage of fixed commissions aggregate gross proceeds after $10,000,000

3.00%

Equity Incentive Plans 2009 [Member]

Number of shares issued upon transaction

60,000,000

Number of additional authorized shares under plan

7,000,000

Maximum number of common stock reserved

22,000,000

Minimum [Member]

Common stock, shares authorized

200,000,000

Maximum [Member]

Common stock, shares authorized

350,000,000

Maximum exchange warrants percentage

19.90%

Maximum [Member] | Equity Distribution Agreement [Member]

Number of shares issued upon transaction

6,549,157

Note Payable (Details Narrative

Note Payable (Details Narrative) - USD ($)	Mar. 16, 2018	May 31, 2017	Dec. 31, 2017
Debt Disclosure [Abstract]
Maximum funding line		$ 4,000,000
Monthly advance in the line of credit		1,900,000
Amount of future advances		$ 2,000,000
Note interest rate		12.00%
Interest rate description		The Company paid interest on this note at a fixed rate of 12% per annum for the first 18 months and change to a rate equal to 800 basis points above the prime rate of interest during the remainder of the term; however, the interest rate was not to be less than 12% for the entire term.
Note payable			$ 1,835,000
Debt instrument, unamortized			1,900,000
Deferred finance costs			$ 65,000
Sale leaseback property and assets	$ 1,956,803

Fair Value (Details Narrative)

Fair Value (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Expected dividend yield	$ 0
Probability of fundamental transaction	5.00%
Floor rate used as proxy for future volatility percentage	100.00%
Fair Value of redeemable warrants		$ 734
Warrant [Member]
Fair Value of redeemable warrants	$ 971		$ 962

Fair Value - Schedule of Assump

Fair Value - Schedule of Assumptions to Estimate Fair Value of Warrants (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
August 2016 Warrants [Member]
Underlying price per share	$ 0.40	$ 0.35
Exercise price per share	$ 1.88	$ 1.88
Risk-free interest rate	2.43%	2.05%
Expected holding period	3 years 4 months 24 days	3 years 8 months 12 days
Expected volatility	70.00%	65.00%
Expected dividend yield
February 2017 Warrants [Member]
Underlying price per share	$ 0.40	$ 0.35
Risk-free interest rate	2.46%	2.10%
Expected holding period		4 years 1 month 6 days
Expected volatility	70.00%	65.00%
Expected dividend yield
February 2017 Warrants [Member] | Minimum [Member]
Exercise price per share	$ 0.69	$ 0.69
Expected holding period	3 years 9 months 18 days
February 2017 Warrants [Member] | Maximum [Member]
Exercise price per share	$ 0.75	0.75
Expected holding period	3 years 10 months 25 days
June 2017 Warrants [Member]
Underlying price per share	$ 0.40	0.35
Exercise price per share	$ 0.63	$ 0.63
Risk-free interest rate	2.49%	2.14%
Expected holding period	4 years 2 months 12 days	4 years 4 months 24 days
Expected volatility	70.00%	65.00%
Expected dividend yield
August 2017 Warrants [Member]
Underlying price per share	$ 0.40	$ 0.35
Exercise price per share	$ 0.45	$ 0.45
Risk-free interest rate	2.47%
Expected holding period	3 years 10 months 25 days
Expected volatility	70.00%	65.00%
Expected dividend yield
August 2017 Warrants [Member] | Minimum [Member]
Risk-free interest rate		1.33%
Expected holding period		2 months 12 days
August 2017 Warrants [Member] | Maximum [Member]
Risk-free interest rate		2.11%
Expected holding period		4 years 2 months 12 days

Fair Value - Schedule of Range

Fair Value - Schedule of Range of Probabilities (Details)	3 Months Ended
	Mar. 31, 2018
Minimum [Member]
Percentage of probability	0.50%
Medium [Member]
Percentage of probability	1.00%
Maximum [Member]
Percentage of probability	5.00%

Fair Value - Schedule of Assets

Fair Value - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Marketable Securities	$ 682	$ 695
Redeemable warrants	971	962
Level 1 [Member]
Marketable Securities	682	695
Redeemable warrants
Level 2 [Member]
Marketable Securities
Redeemable warrants
Level 3 [Member]
Marketable Securities
Redeemable warrants	$ 971	$ 962

Fair Value - Schedule of Change

Fair Value - Schedule of Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Fair Value Disclosures [Abstract]
Balance at beginning	$ 962
Warrants exercised and cancelled	(222)
Fair value adjustments	231
Balance at ending	$ 971

Financing Obligation Arising 45

Financing Obligation Arising from Sale Leaseback Transaction (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Mar. 16, 2018	Feb. 28, 2018	Mar. 31, 2018	Jul. 31, 2017
Leases [Abstract]
Proceeds from sale of property	$ 4,080	$ 1,050
Lease of rent expenses	$ 408
Lease and property agreement description	lease the property back for ten years at $408,000 per year for two years through March 31, 2020. The lease payments will increase 2.5% per year for the next three years through March 31, 2023 and the lease payments will increase 3% for the remaining five years through March 31, 2028
Warrant term	5 years
Warrant to purchase of common stock	3,225,806			130,000
Warrant exercise price per share	$ 0.3875
Warrant closing price, percentage	125.00%
Warrant owning excess percentage	4.99%
Interest expenses			$ 16

Financing Obligation Arising 46

Financing Obligation Arising from Sale Leaseback Transaction - Schedule of Future Minimum Payments Under Financing Obligation (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Leases [Abstract]
2,018	$ 374
2,019	408
2,020	419
2,021	429
2,022	439
Thereafter	2,402
Total of payments	4,471
Less deferred settlement costs	(265)
Less discount on debt instrument	(1,139)
Less imputed interest	(406)
Total Balance	2,661
Less Current portion	222
Long term portion	$ 2,439

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Apr. 20, 2018	Mar. 24, 2018	Mar. 31, 2018
Proceeds from sale of stock		$ 475,000
Subsequent Event [Member]
Cash payment for litigation			$ 200,000
Subsequent Event [Member] | Securities Purchase Agreements [Member]
Sale of stock, shares	6,600,000
Purchase price	$ 0.39
Proceeds from sale of stock	$ 2,343,820
Subsequent Event [Member] | Securities Purchase Agreements [Member] | Warrant [Member]
Sale of stock, shares	6,600,000
Subsequent Event [Member] | Securities Purchase Agreements [Member] | Class A Warrant [Member]
Sale of stock percentage	50.00%
Subsequent Event [Member] | Securities Purchase Agreements [Member] | Class B Warrant [Member]
Sale of stock percentage	50.00%