Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 01, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | BIO-PATH HOLDINGS INC | ||
Entity Central Index Key | 1,133,818 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Trading Symbol | BPTH | ||
Entity Common Stock, Shares Outstanding | 95,645,224 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 163.3 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets | ||
Cash | $ 9,375 | $ 8,854 |
Prepaid drug product for testing | 376 | 560 |
Other current assets | 902 | 179 |
Total current assets | 10,653 | 9,593 |
Fixed assets | ||
Furniture, fixtures & equipment | 708 | 123 |
Less accumulated depreciation | (94) | (51) |
Property, Plant and Equipment, Net | 614 | 72 |
Other assets | ||
Technology licenses | 2,500 | 2,500 |
Less accumulated amortization | (1,571) | (1,410) |
Intangible Assets, Net (Excluding Goodwill), Total | 929 | 1,090 |
Total Assets | 12,196 | 10,755 |
Current liabilities | ||
Accounts payable | 69 | 54 |
Accrued expense | 969 | 883 |
Deferred revenue | 12 | 0 |
Total current liabilities | 1,050 | 937 |
Warrant liability | 2,906 | 0 |
Total Liabilities | 3,956 | 937 |
Shareholders' equity | ||
Preferred stock, $.001 par value 10,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $.001 par value, 200,000,000 shares authorized 95,645,224 and 89,762,872 shares issued and outstanding as of 12/31/16 and 12/31/15, respectively | 96 | 90 |
Additional paid in capital | 40,278 | 35,112 |
Accumulated deficit | (32,134) | (25,384) |
Total shareholders' equity | 8,240 | 9,818 |
Total Liabilities & Shareholders' Equity | $ 12,196 | $ 10,755 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred Stock, par value | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Common Stock, par value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 200,000,000 | 200,000,000 |
Common Stock, shares issued | 95,645,224 | 89,762,872 |
Common Stock, shares outstanding | 95,645,224 | 89,762,872 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue | $ 13 | $ 0 | $ 0 |
Operating expense | |||
Research and development | 5,474 | 3,020 | 1,630 |
General and administrative | 3,014 | 2,465 | 2,715 |
Total operating expense | 8,488 | 5,485 | 4,542 |
Net operating loss | (8,475) | (5,485) | (4,542) |
Other income | |||
Change in fair value of warrant liability | 1,713 | 0 | 0 |
Interest income | 12 | 18 | 23 |
Total other income | 1,725 | 18 | 23 |
Net loss | $ (6,750) | $ (5,467) | $ (4,519) |
Loss per share | |||
Net loss per share, basic and diluted | $ (0.07) | $ (0.06) | $ (0.05) |
Basic and diluted weighted average number of common shares outstanding | 92,704 | 89,763 | 89,282 |
Related Party | |||
Operating expense | |||
Research and development | $ 0 | $ 0 | $ 197 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flow from operating activities | |||
Net loss | $ (6,750) | $ (5,467) | $ (4,519) |
Adjustments to reconcile net loss to net cash used in operating activities | |||
Amortization | 161 | 161 | 161 |
Depreciation | 43 | 41 | 10 |
Stock-based compensation | 784 | 369 | 404 |
Change in fair value of warrant liability | (1,713) | 0 | 0 |
(Increase) decrease in assets | |||
Prepaid drug product for testing | 184 | (405) | (104) |
Other current assets | (723) | (79) | (36) |
Increase (decrease) in liabilities | |||
Accounts payable and accrued expenses | (146) | 375 | 267 |
Deferred revenue | 12 | 0 | 0 |
Net cash used in operating activities | (8,148) | (5,005) | (3,817) |
Cash flow from investing activities | |||
Purchases of furniture, fixtures & equipment | (338) | 0 | (123) |
Net cash used in investing activities | (338) | 0 | (123) |
Cash flow from financing activities | |||
Net proceeds from sale of common stock and warrants | 9,007 | 0 | 13,812 |
Net proceeds from exercise of common stock options | 0 | 0 | 435 |
Net cash provided by financing activities | 9,007 | 0 | 14,247 |
Net increase (decrease) in cash | 521 | (5,005) | 10,307 |
Cash, beginning of period | 8,854 | 13,859 | 3,552 |
Cash, end of period | 9,375 | 8,854 | 13,859 |
Non-cash investing activities | |||
Capital expenditures included in accrued expense | $ 247 | $ 0 | $ 0 |
CONSOLIDATED STATEMENT OF SHARE
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Additional Paid in Capital Shares to be Issued | Accumulated Deficit |
Beginning balance at Dec. 31, 2013 | $ 4,783 | $ 84 | $ 20,097 | $ 0 | $ (15,398) |
Beginning Balance (in shares) at Dec. 31, 2013 | 84,238 | ||||
Issuance of common stock, net of fees | 13,813 | $ 5 | 13,808 | ||
Issuance of common stock, net of fees (in shares) | 5,000 | ||||
Exercise of stock options | 436 | $ 1 | 435 | ||
Exercise of stock options (in shares) | 525 | ||||
Stock-based compensation | 404 | 404 | |||
Net loss | (4,519) | (4,519) | |||
Ending balance at Dec. 31, 2014 | 14,917 | $ 90 | 34,744 | 0 | (19,917) |
Ending balance (in shares) at Dec. 31, 2014 | 89,763 | ||||
Stock-based compensation | 368 | 368 | |||
Net loss | (5,467) | (5,467) | |||
Ending balance at Dec. 31, 2015 | 9,818 | $ 90 | 35,112 | 0 | (25,384) |
Ending balance (in shares) at Dec. 31, 2015 | 89,763 | ||||
Issuance of common stock, net of fees | 4,388 | $ 6 | 4,382 | ||
Issuance of common stock, net of fees (in shares) | 5,882 | ||||
Stock-based compensation | 784 | 784 | |||
Net loss | (6,750) | (6,750) | |||
Ending balance at Dec. 31, 2016 | $ 8,240 | $ 96 | $ 40,278 | $ 0 | $ (32,134) |
Ending balance (in shares) at Dec. 31, 2016 | 95,645 |
Organization and Business
Organization and Business | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Business | 1. Organization and Business The Company is a clinical and preclinical stage oncology focused antisense drug development company utilizing a novel technology that achieves systemic delivery for target specific protein inhibition for any gene product that is over-expressed in disease. The Company’s drug delivery and antisense technology, called DNAbilize, is a platform that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification that is intended to protect the DNA from destruction by the body’s enzymes in vivo Using DNAbilize as a platform for drug development and manufacturing, we currently have two antisense drug candidates in development to treat a total of five different disease indications. Our lead drug candidate, prexigebersen (pronounced prex” i je ber’ sen), the unique nonproprietary (generic) drug name for BP1001 designated by the United States Adopted Names Council, targets the protein Grb2 and has entered the efficacy portion of a Phase II clinical trial for acute myeloid leukemia (AML) and is preparing to enter the safety segment of a Phase II clinical trial for blast phase and accelerated phase chronic myelogenous leukemia (CML). Prexigebersen is also in preclinical studies for solid tumors, including breast cancer and ovarian cancer. The Company’s second drug candidate, Liposomal Bcl2 (“BP1002”), targets the protein Bcl2, which is responsible for driving cell proliferation in up to 60% of all cancers. BP1002 is in preparation for an Investigational New Drug application. Bio-Path Subsidiary was founded in May 2007 as a Utah corporation. In February 2008, Bio-Path Subsidiary completed a reverse merger with Ogden Golf Co. Corporation, a public company traded over the counter that had no current operations. The name of Ogden Golf was changed to Bio-Path Holdings, Inc. and the directors and officers of Bio-Path, Inc. became the directors and officers of Bio-Path Holdings, Inc. The Company’s operations to date have been limited to organizing and staffing the Company, acquiring, developing and securing its technology and undertaking product development for a limited number of product candidates. On January 15, 2014, the Company entered into a securities purchase agreement, as amended, with certain investors, pursuant to which the Company agreed to sell an aggregate of 5.0 2.5 13.8 On March 5, 2014, The NASDAQ Stock Market LLC informed the Company that it had approved the listing of the Company’s common stock on The NASDAQ Capital Market. The Company’s common stock ceased trading on the OTCQX and commenced trading on The NASDAQ Capital Market on March 10, 2014 under the ticker symbol “BPTH.” At the December 30, 2014 annual stockholder meeting, stockholders approved a change in incorporation to the State of Delaware. This was subsequently completed effective December 31, 2014. In June 2015, the Company established an “at the market” (“ATM”) program through which it may offer and sell up to $ 25.0 On June 29, 2016, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain healthcare focused institutional investors pursuant to which the Company agreed to sell an aggregate of 5,882,352 2,941,176 10.0 9.3 0.3 9.0 4.3 4.7 As of December 31, 2016, Bio-Path had $ 9.4 As the Company has not begun its planned principal operations of commercializing a product candidate, the Company’s activities are subject to significant risks and uncertainties, including the potential requirement to secure additional funding, the outcome of the Company’s clinical trials, and failing to operationalize the Company’s current drug candidates before another company develops similar products. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies The consolidated financial statements include the accounts of Bio-Path Holdings, Inc., and its wholly-owned subsidiary Bio-Path, Inc. All intercompany accounts and transactions have been eliminated in consolidation. We have not generated significant revenues to date. During 2016, the Company entered into a fixed fee service agreement with a preclinical stage biotechnology company in connection with a development project involving our DNAbilize technology, pursuant to which we agreed to perform certain evaluation services in exchange for $ 50,000 13,000 The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Financial instruments that potentially subject us to a significant concentration of credit risk consist of cash. The Company maintains its cash balances with one major commercial bank, JPMorgan Chase Bank. The balances are insured by the Federal Deposit Insurance Corporation (the “FDIC”) up to $ 250,000 9.1 8.9 8.6 Furniture, fixtures and equipment are stated at cost and depreciated using the straight line method over the estimated useful lives of the assets. Depreciation expense was $ 43,000 41,000 10,000 The estimated useful lives are as follows: Computers and equipment 3 Furniture and fixtures 7 Scientific equipment 7 Leasehold improvements Lesser of useful life or lease term Major additions and improvements are capitalized, while costs for minor replacements, maintenance, and repairs that do not increase the useful life of an asset are expensed as incurred. Our long lived assets consist of furniture, fixtures and equipment, leasehold improvements and a technology license. Long lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset is measured by a comparison of the asset’s carrying amount to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. As of December 31, 2016, other assets totaled $ 0.9 2.5 1.6 0.8 3.1 2.4 0.7 0.2 1.1 2.5 1.4 Costs and expenses that can be clearly identified as research and development are charged to expense. Advance payments, including nonrefundable amounts, for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts will be recognized as an expense as the related goods are delivered or the related services are performed. If the goods will not be delivered, or services will not be rendered, then the capitalized advance payment is charged to expense. The Company estimates its clinical trial expense accrual each period based on a cost per patient calculation which is derived from estimated start-up costs, clinical trial costs based on the number of patients and length of the study and clinical study report costs. These services are performed by the Company’s third-party clinical research organizations, laboratories and clinical investigative sites. The expense accrual is recorded in research and development expense each period. Amounts that have been prepaid in advance of work performed are recorded in other current assets. For the year ended December 31, 2016, we had $ 5.5 3.0 5 1.6 0.2 The Company has accounted for stock-based compensation under the provisions of generally accepted accounting principles (“GAAP”). The provisions require us to record an expense associated with the fair value of stock-based compensation. We currently use the Black-Scholes option valuation model to calculate stock based compensation at the date of grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate. Based on its stock ownership in the Company during 2014, MD Anderson met the criteria to be deemed a related party of the Company. Research and development related party expense has been consolidated with research and development expense on our financial statements in 2015 and 2016 as MD Anderson is no longer a greater than 5% stockholder in the Company. For the year ending December 31, 2014, MD Anderson related party research and development expense was $0.2 million. MD Anderson related party research and development expense for the year ending December 31, 2014 included license expense of $ 0.1 31,000 0.1 0.1 0.1 Basic net loss per common share is computed by dividing net loss for the period by the weighted average number of common shares outstanding during the period. Although there were warrants and stock options outstanding during 2016, 2015 and 2014, no potential common shares shall be included in the computation of any diluted per-share amount when a loss exists, as it would be anti-dilutive. Consequently, diluted net loss per share as presented in the financial statements is equal to basic net loss per share for the years 2016, 2015 and 2014. The calculation of diluted earnings per share for 2016 did not include 5,441,673 5,951,176 5,078,611 2,760,000 4,734,861 2,760,000 The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and accompanying notes. On an ongoing basis, the Company evaluates its estimates and judgments, which are based on historical and anticipated results and trends as well as on various other assumptions that the Company believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from the Company’s estimates. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Liquidity The Company has experienced significant losses since its inception, including net losses of $6.8 million and $5.4 million for the years ended December 31, 2016 and 2015, respectively. As of December 31, 2016, the Company had an accumulated deficit of $32.1 million and $9.4 million in cash and cash equivalents. The Company has no debt commitments. Substantially all of the Company’s net losses have resulted from costs incurred in connection with its research and development activities and its general and administrative expenses to support operations. The Company’s net losses may fluctuate significantly from quarter to quarter and year to year. The Company believes that its available cash at December 31, 2016 will be sufficient to fund liquidity and capital expenditure requirements for at least the next twelve months from the date of issuance of these financial statements. However, the Company expects to continue to incur net losses for the foreseeable future. The Company expects to continue to incur significant operating expenses in connection with its ongoing activities, including conducting clinical trials, manufacturing development and seeking regulatory approval of its drug candidates, prexigebersen and BP1002. Accordingly, the Company will continue to require substantial additional capital to fund its projected operating requirements. Such additional capital may not be available when needed or on terms favorable to the Company. In addition, the Company may seek additional capital due to favorable market conditions or strategic considerations, even if it believes it has sufficient funds for our current and future operating plan. There can be no assurance that the Company will be able to continue to raise additional capital through the sale of securities in the future. If the Company is not able to secure adequate additional funding, the Company may be forced to make reductions in spending, extend payment terms with suppliers, and/or suspend or curtail planned programs. Any of these actions could materially harm the Company’s business, results of operations, financial condition and future prospects. Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Stock Compensation. Management has reviewed all other recently issued pronouncements and has determined they will have no material impact on the Company’s consolidated financial statements. |
Prepaid Drug Product for Testin
Prepaid Drug Product for Testing | 12 Months Ended |
Dec. 31, 2016 | |
Prepaid Drug Product For Testing [Abstract] | |
Prepaid Drug Product for Testing | 3. Prepaid Drug Product for Testing Advance payments, including nonrefundable amounts, for goods or services that will be used or rendered for future clinical development activities are deferred and capitalized. Such amounts will be recognized as an expense as the related goods are delivered or the related services are performed. The Company incurred installments to its contract drug manufacturing and raw material suppliers totaling $ 0.6 0.4 |
Other Current Assets
Other Current Assets | 12 Months Ended |
Dec. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Current Assets | 4. Other Current Assets As of December 31, 2016, Other Current Assets included prepaid expenses of $ 0.9 0.6 0.3 0.2 |
Accounts Payable
Accounts Payable | 12 Months Ended |
Dec. 31, 2016 | |
Accounts Payable Disclosure [Abstract] | |
Accounts Payable | 5. Accounts Payable As of December 31, 2016, Current Liabilities included accounts payable of $ 0.1 0.1 |
Accrued Expense
Accrued Expense | 12 Months Ended |
Dec. 31, 2016 | |
Accrued Liabilities [Abstract] | |
Accrued Expense | 6. Accrued Expense As of December 31, 2016, Current Liabilities included accrued expense of $ 1.0 0.4 0.2 0.2 0.1 0.1 0.9 |
Warrant Liability
Warrant Liability | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Liability [Abstract] | |
Warrant Liability | 7. Warrant Liability In connection with the 2016 Registered Direct Offering, the Company issued warrants to purchase up to 2,941,176 2.30 250,000 2.46 Due to this provision and in accordance with ASC 480-10 (Distinguishing Liabilities from Equity), the 2016 Warrants were classified as a liability and recorded at fair value using the Binomial Lattice Model. The estimated fair value of the Warrant Liability for the 2016 Warrants on the closing date, July 5, 2016, was $ 4.6 Risk-free interest rate 0.94% Expected volatility 107% Expected term in years 5.5 Dividend yield -% As of December 31, 2016, the fair value of the Warrant Liability was $ 2.9 1.7 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 8. Fair Value Measurements In accordance with ASC 820 (Fair Value Measurements and Disclosures), the Company uses various inputs to measure the 2016 Warrants on a recurring basis to determine the fair value of the liability. ASC 820 also establishes a hierarchy categorizing inputs into three levels used to measure and disclose fair value. The hierarchy gives the highest priority to quoted prices available in active markets and the lowest priority to unobservable inputs. An explanation of each level in the hierarchy is described below: Level 1 Unadjusted quoted prices in active markets for identical instruments that are accessible by the Company on the measurement date Level 2 Quoted prices in markets that are not active or inputs which are either directly or indirectly observable Level 3 Unobservable inputs for the instrument requiring the development of assumptions by the Company Fair Value Measurements at December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ - $ 2,906 $ 2,906 The Company did not have the 2016 Warrants at December 31, 2015. Fair Value of Warrant Liability (in thousands) Balance at December 31, 2015 $ - Issuance 4,619 Change in fair value (1,713) Balance at December 31, 2016 $ 2,906 As of December 31, 2016 Risk-free interest rate 1.93% Expected volatility 98% Expected term in years 5.0 Dividend yield -% |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | 9. Stockholders’ Equity Issuances of Common Stock 5,000,000 2,500,000 15.0 4.74 250,000 In December 2014, a former director of the Company exercised stock options on 525,000 0.4 In July 2016, the Company issued a total of 5,882,352 2,941,176 10.0 2.30 250,000 2.46 Stockholders’ Equity totaled $ 8.2 9.8 95,645,224 |
Stock-Based Compensation Plans
Stock-Based Compensation Plans | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation Plans | 10. Stock-Based Compensation Plan The Plan - In 2007, the Company adopted the First Amended 2007 Stock Incentive Plan, as amended (the “Plan”). The Plan provides for the grant of Incentive Stock Options, Nonqualified Stock Options, Restricted Stock Awards, Restricted Stock Unit Awards, Performance Awards and other stock-based awards, or any combination of the foregoing to the Company’s key employees, non-employee directors and consultants. As of December 31, 2016 the total number of shares reserved and available for grant and issuance pursuant to this Plan is 7,067,419 Stock option awards granted for the year 2016 were estimated to have a weighted average fair value per share of $ 2.09 1.33 2.51 2016 2015 2014 Risk-free interest rate 1.37% 1.65% 2.12% Expected volatility 109% 138% 174% Expected term in years 6.1 6.1 6.7 Dividend yield -% -% -% The Company determines the expected term of its stock option awards using the simplified method based on the weighted average of the length of the vesting period and the term of the exercise period. Expected volatility is determined by the volatility of the Company’s historical stock price over the expected term of the grant. The risk-free interest rate for the expected term of each option granted is based on the U.S. Treasury yield curve in effect at the time of grant. Weighted Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value (per share) (in years) Year Ended December 31, 2016 Outstanding at December 31, 2015 5,752 $ 1.05 5.3 $ 1,972 Granted 1,315 2.54 9.3 Exercised - - Forfeited/expired - - Outstanding at December 31, 2016 7,067 $ 1.33 5.2 $ 2,241 Vested and expected to vest December 31, 2016 6,728 $ 1.27 5.0 $ 2,239 Exercisable at December 31, 2016 5,442 $ 1.01 4.1 $ 2,236 The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on December 31, 2016 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2016. This amount changes based on the fair market value of the Company’s stock. Weighted Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value (per share) (in years) Year Ended December 31, 2015 Outstanding at December 31, 2014 5,428 $ 1.03 6.0 $ 8,829 Granted 349 1.46 9.3 Exercised - - Forfeited/expired (25) 2.71 Outstanding at December 31, 2015 5,752 $ 1.05 5.3 $ 1,972 Vested and expected to vest December 31, 2015 5,666 $ 1.04 5.2 $ 1,972 Exercisable at December 31, 2015 5,079 $ 1.00 4.9 $ 1,839 The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on December 31, 2015 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2015. This amount changes based on the fair market value of the Company’s stock. Weighted Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value (per share) (in years) Year Ended December 31, 2014 Outstanding at December 31, 2013 6,032 $ 0.90 6.8 $ 18,672 Granted 325 2.57 9.4 Exercised (525) 0.83 Forfeited/expired (404) 0.68 Outstanding at December 31, 2014 5,428 $ 1.03 6.0 $ 8,829 Vested and expected to vest December 31, 2014 5,428 $ 1.03 6.0 $ 8,829 Exercisable at December 31, 2014 4,735 $ 0.99 5.6 $ 7,931 The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on December 31, 2014 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2014. This amount changes based on the fair market value of the Company’s stock. The aggregate pretax intrinsic value of exercises in 2014 totaled $ 0.9 Stock-Based Compensation Expense - Total stock-based compensation expense for the year ended 2016 was $ 0.8 0.4 0.4 2.0 2.9 0.4 0.1 0.2 0.4 0.1 0.3 |
Warrants
Warrants | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Financial Instruments Indexed to, and Potentially Settled in, Entity's Own Stock [Abstract] | |
Warrants | 11. Warrants Warrants Outstanding Warrants Exercisable Weighted Average Remaining Weighted Weighted Number Contractual Average Number Average Year Issued Outstanding Life Exercise Price Exercisable Exercise Price (in years) (per share) (per share) 2013 10 1.3 $ 0.90 10 $ 0.90 2014 (Note 9) 2,750 2.1 4.74 2,750 4.74 2015 - - - - - 2016 (Note 9) 3,191 5.0 $ 2.31 - - 5,951 3.6 $ 3.43 2,760 $ 4.73 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 12. Commitments and Contingencies Technology License The Company has negotiated exclusive licenses from MD Anderson to develop drug delivery technology for antisense and siRNA drug products. These licenses require, among other things, the Company to reimburse MD Anderson for ongoing patent expense and an annual license maintenance fee. The annual license maintenance fee attributable to the License Agreement totaling $ 0.1 0.1 Operating Lease - In April 2014, the Company entered into a lease agreement for office space, which it occupied as of August 2014. The remaining lease payments due under this lease as of December 31, 2016 are $ 0.2 In April 2016, the Company entered into a three-year lease agreement for lab space located in Bellaire, Texas. The term of lease began on May 1, 2016 and terminates on April 30, 2019 and will require Bio-Path to pay $ 2,500 0.1 For the Year Ending December 31, (in thousands) 2017 $ 114 2018 116 2019 61 Total $ 291 Drug Supplier Project Plan - Bio-Path has a project plan agreement with a producer of the Company’s drug product for the manufacture and delivery of one batch of prexigebersen, which is expected to be delivered to the Company in the second quarter 2017. As of December 31, 2016, the remaining commitment for this batch requires the Company to pay $ 0.1 0.1 0.5 0.4 0.1 0.2 |
Benefit Plan
Benefit Plan | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Compensation and Employee Benefit Plans | 13. Benefit Plan The Company initiated a contribution savings plan under Section 401(k) of the Internal Revenue Code in 2016. Under the plan, all eligible employees may contribute up to the statutory allowable amount governed by the Internal Revenue Service for any calendar year. We make matching contributions equal to 100% of the first 3% and 50% of the next 2% of each employee’s base salary up to the allowable amount which is fully vested on the date the matching contributions are made. 48,000 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 14. Income Taxes At December 31, 2016, the Company had a net operating loss carryforward for federal income tax purposes of $ 27.0 2026 1.3 2028 In assessing the ability to realize its deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers evidence such as the reversal of deferred tax liabilities, projected future results of operations, and tax planning strategies in making this assessment. Based upon the level of historical taxable income, significant book losses during the current and prior periods, and projections for future results of operations over the periods in which the deferred tax assets are deductible, among other factors, management continues to conclude that the Company does not meet the “more likely than not” requirement of ASC 740 in order to recognize deferred tax assets. As such, a valuation allowance has been recorded to offset the Company’s net deferred tax assets at December 31, 2016. The Company recorded an increase in the valuation allowance of $ 3.0 December 31, 2016 2015 (in thousands) Deferred tax assets-non current Accrued bonuses $ - $ 77 Accrued vacation 32 22 Net operating loss (NOL) carryover 9,166 6,641 Technology licenses amortization 60 64 Research & development tax credits 1,259 877 Share based expense 443 293 Other 9 (10) Total deferred tax asset 10,969 7,964 Less: valuation allowance (10,965) (7,964) Net deferred tax asset 4 - Deferred tax liability- non current (4) - Net deferred tax asset $ - $ - December 31, 2016 2015 2014 (in thousands) Loss before income taxes $ (6,750) $ (5,467) $ (4,560) Tax (benefit) statutory tax rate (2,295) (1,859) (1,550) Effects of: Exclusion of incentive stock option expense 117 89 83 R&D tax credits (252) (132) (132) Increase in valuation allowance 3,001 1,899 1,530 FMV of warrants (582) - - Prior year adjustments 6 - - Carryforward adjustment - 21 Other 5 3 48 Provision for income taxes $ - $ - $ - As of December 31, 2016, the Company had no unrecognized income tax benefits. The Company’s policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as tax expense. No interest or penalties have been recorded as of the year ended December 31, 2016, and no interest or penalties have been accrued as of December 31, 2016, 2015 and 2014. The Company’s open years for Internal Revenue Service (IRS) examination purposes due to normal statute of limitation are 2013, 2014 and 2015. However, since the Company has operating loss carryforwards, the IRS has the ability to make adjustments to items that originate in a year otherwise barred by the statute of limitations under Section 6501 of the Internal Revenue Code of 1986, as amended (the “code”), in order to redetermine tax for an open year to which those items are carried. Therefore, in a year in which a net operating loss deduction was claimed, the IRS may examine the year in which the net operating loss was generated and adjust it accordingly for purposes of assessing additional tax in the year the net operating loss was claimed. The Company is not currently under examination by the IRS or any other taxing authorities. |
Quarterly Results of Operations
Quarterly Results of Operations | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations | 15. Quarterly Results of Operations (Unaudited) Quarter Ended March 31, June 30, September 30, December 31, 2016 Revenue $ - $ - $ - $ 13 Expenses 1,869 1,944 2,994 1,681 Loss from operations (1,869) (1,944) (2,994) (1,668) Other income 2 2 1,424 297 Net loss (1,867) (1,942) (1,570) (1,371) Net loss per common share - basic and diluted (0.02) (0.02) (0.02) (0.01) Quarter Ended March 31, June 30, September 30, December 31, 2015 Revenue $ - $ - $ - $ - Expenses 1,379 1,131 1,512 1,463 Loss from operations (1,379) (1,131) (1,512) (1,463) Other income 4 5 4 5 Net loss (1,375) (1,126) (1,508) (1,458) Net loss per common share - basic and diluted (0.02) (0.01) (0.02) (0.02) |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of Bio-Path Holdings, Inc., and its wholly-owned subsidiary Bio-Path, Inc. All intercompany accounts and transactions have been eliminated in consolidation. |
Revenue Recognition | Revenue Recognition We have not generated significant revenues to date. During 2016, the Company entered into a fixed fee service agreement with a preclinical stage biotechnology company in connection with a development project involving our DNAbilize technology, pursuant to which we agreed to perform certain evaluation services in exchange for $ 50,000 13,000 |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject us to a significant concentration of credit risk consist of cash. The Company maintains its cash balances with one major commercial bank, JPMorgan Chase Bank. The balances are insured by the Federal Deposit Insurance Corporation (the “FDIC”) up to $ 250,000 9.1 8.9 8.6 |
Furniture, fixtures and equipment | Furniture, fixtures and equipment Furniture, fixtures and equipment are stated at cost and depreciated using the straight line method over the estimated useful lives of the assets. Depreciation expense was $ 43,000 41,000 10,000 The estimated useful lives are as follows: Computers and equipment 3 Furniture and fixtures 7 Scientific equipment 7 Leasehold improvements Lesser of useful life or lease term Major additions and improvements are capitalized, while costs for minor replacements, maintenance, and repairs that do not increase the useful life of an asset are expensed as incurred. |
Long-Lived Assets | Long Lived Assets Our long lived assets consist of furniture, fixtures and equipment, leasehold improvements and a technology license. Long lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset is measured by a comparison of the asset’s carrying amount to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. |
Intangible Assets | Intangible Assets/Impairment of Long-Lived Assets As of December 31, 2016, other assets totaled $ 0.9 2.5 1.6 0.8 3.1 2.4 0.7 0.2 1.1 2.5 1.4 |
Research and Development Costs | Research and Development Costs Costs and expenses that can be clearly identified as research and development are charged to expense. Advance payments, including nonrefundable amounts, for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts will be recognized as an expense as the related goods are delivered or the related services are performed. If the goods will not be delivered, or services will not be rendered, then the capitalized advance payment is charged to expense. The Company estimates its clinical trial expense accrual each period based on a cost per patient calculation which is derived from estimated start-up costs, clinical trial costs based on the number of patients and length of the study and clinical study report costs. These services are performed by the Company’s third-party clinical research organizations, laboratories and clinical investigative sites. The expense accrual is recorded in research and development expense each period. Amounts that have been prepaid in advance of work performed are recorded in other current assets. For the year ended December 31, 2016, we had $ 5.5 3.0 5 1.6 0.2 |
Stock-Based Compensation | Stock-Based Compensation The Company has accounted for stock-based compensation under the provisions of generally accepted accounting principles (“GAAP”). The provisions require us to record an expense associated with the fair value of stock-based compensation. We currently use the Black-Scholes option valuation model to calculate stock based compensation at the date of grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate. |
Related Party | Related Party Based on its stock ownership in the Company during 2014, MD Anderson met the criteria to be deemed a related party of the Company. Research and development related party expense has been consolidated with research and development expense on our financial statements in 2015 and 2016 as MD Anderson is no longer a greater than 5% stockholder in the Company. For the year ending December 31, 2014, MD Anderson related party research and development expense was $0.2 million. MD Anderson related party research and development expense for the year ending December 31, 2014 included license expense of $ 0.1 31,000 0.1 0.1 0.1 |
Net Loss Per Share | Net Loss Per Share Basic net loss per common share is computed by dividing net loss for the period by the weighted average number of common shares outstanding during the period. Although there were warrants and stock options outstanding during 2016, 2015 and 2014, no potential common shares shall be included in the computation of any diluted per-share amount when a loss exists, as it would be anti-dilutive. Consequently, diluted net loss per share as presented in the financial statements is equal to basic net loss per share for the years 2016, 2015 and 2014. The calculation of diluted earnings per share for 2016 did not include 5,441,673 5,951,176 5,078,611 2,760,000 4,734,861 2,760,000 |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and accompanying notes. On an ongoing basis, the Company evaluates its estimates and judgments, which are based on historical and anticipated results and trends as well as on various other assumptions that the Company believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from the Company’s estimates. |
Income Tax | Income Taxes Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. |
Liquidity | Liquidity The Company has experienced significant losses since its inception, including net losses of $6.8 million and $5.4 million for the years ended December 31, 2016 and 2015, respectively. As of December 31, 2016, the Company had an accumulated deficit of $32.1 million and $9.4 million in cash and cash equivalents. The Company has no debt commitments. Substantially all of the Company’s net losses have resulted from costs incurred in connection with its research and development activities and its general and administrative expenses to support operations. The Company’s net losses may fluctuate significantly from quarter to quarter and year to year. The Company believes that its available cash at December 31, 2016 will be sufficient to fund liquidity and capital expenditure requirements for at least the next twelve months from the date of issuance of these financial statements. However, the Company expects to continue to incur net losses for the foreseeable future. The Company expects to continue to incur significant operating expenses in connection with its ongoing activities, including conducting clinical trials, manufacturing development and seeking regulatory approval of its drug candidates, prexigebersen and BP1002. Accordingly, the Company will continue to require substantial additional capital to fund its projected operating requirements. Such additional capital may not be available when needed or on terms favorable to the Company. In addition, the Company may seek additional capital due to favorable market conditions or strategic considerations, even if it believes it has sufficient funds for our current and future operating plan. There can be no assurance that the Company will be able to continue to raise additional capital through the sale of securities in the future. If the Company is not able to secure adequate additional funding, the Company may be forced to make reductions in spending, extend payment terms with suppliers, and/or suspend or curtail planned programs. Any of these actions could materially harm the Company’s business, results of operations, financial condition and future prospects. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Stock Compensation. Management has reviewed all other recently issued pronouncements and has determined they will have no material impact on the Company’s consolidated financial statements. |
Warrant Liability (Tables)
Warrant Liability (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Liability [Abstract] | |
Schedule of Share Based Payment Award Warrants Valuation Assumptions | The estimated fair value of the Warrant Liability for the 2016 Warrants on the closing date, July 5, 2016, was $ 4.6 Risk-free interest rate 0.94% Expected volatility 107% Expected term in years 5.5 Dividend yield -% |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table summarizes the Company’s 2016 Warrants measured at fair value within the hierarchy on a recurring basis as of December 31, 2016: Fair Value Measurements at December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ - $ 2,906 $ 2,906 |
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table summarizes changes to the fair value of the Level 3 2016 Warrants for the year ended December 31, 2016: Fair Value of Warrant Liability (in thousands) Balance at December 31, 2015 $ - Issuance 4,619 Change in fair value (1,713) Balance at December 31, 2016 $ 2,906 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | The Company utilized the Binomial Lattice Model for estimating the fair value of the 2016 Warrants using the following assumptions as of December 31, 2016: As of December 31, 2016 Risk-free interest rate 1.93% Expected volatility 98% Expected term in years 5.0 Dividend yield -% |
Stock-Based Compensation and Pl
Stock-Based Compensation and Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Schedule of Share-based Compensation, Stock Options, Activity | Option activity under the Plan for the year ended December 31, 2016, was as follows (in thousands, except as noted): Weighted Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value (per share) (in years) Year Ended December 31, 2016 Outstanding at December 31, 2015 5,752 $ 1.05 5.3 $ 1,972 Granted 1,315 2.54 9.3 Exercised - - Forfeited/expired - - Outstanding at December 31, 2016 7,067 $ 1.33 5.2 $ 2,241 Vested and expected to vest December 31, 2016 6,728 $ 1.27 5.0 $ 2,239 Exercisable at December 31, 2016 5,442 $ 1.01 4.1 $ 2,236 Option activity under the Plan for the year ended December 31, 2015, was as follows (in thousands, except as noted): Weighted Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value (per share) (in years) Year Ended December 31, 2015 Outstanding at December 31, 2014 5,428 $ 1.03 6.0 $ 8,829 Granted 349 1.46 9.3 Exercised - - Forfeited/expired (25) 2.71 Outstanding at December 31, 2015 5,752 $ 1.05 5.3 $ 1,972 Vested and expected to vest December 31, 2015 5,666 $ 1.04 5.2 $ 1,972 Exercisable at December 31, 2015 5,079 $ 1.00 4.9 $ 1,839 Option activity under the Plan for the year ended December 31, 2014, was as follows (in thousands, except as noted): Weighted Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value (per share) (in years) Year Ended December 31, 2014 Outstanding at December 31, 2013 6,032 $ 0.90 6.8 $ 18,672 Granted 325 2.57 9.4 Exercised (525) 0.83 Forfeited/expired (404) 0.68 Outstanding at December 31, 2014 5,428 $ 1.03 6.0 $ 8,829 Vested and expected to vest December 31, 2014 5,428 $ 1.03 6.0 $ 8,829 Exercisable at December 31, 2014 4,735 $ 0.99 5.6 $ 7,931 |
Warrant [Member] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | For stock options granted during 2016, 2015 and 2014 the following weighted average assumptions were used in determining fair value: 2016 2015 2014 Risk-free interest rate 1.37% 1.65% 2.12% Expected volatility 109% 138% 174% Expected term in years 6.1 6.1 6.7 Dividend yield -% -% -% |
Warrants (Tables)
Warrants (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Financial Instruments Indexed to, and Potentially Settled in, Entity's Own Stock [Abstract] | |
Schedule of Stockholders' Equity Note, Warrants or Rights | A summary of warrants outstanding and exercisable as of December 31, 2016 (in thousands, except as noted): Warrants Outstanding Warrants Exercisable Weighted Average Remaining Weighted Weighted Number Contractual Average Number Average Year Issued Outstanding Life Exercise Price Exercisable Exercise Price (in years) (per share) (per share) 2013 10 1.3 $ 0.90 10 $ 0.90 2014 (Note 9) 2,750 2.1 4.74 2,750 4.74 2015 - - - - - 2016 (Note 9) 3,191 5.0 $ 2.31 - - 5,951 3.6 $ 3.43 2,760 $ 4.73 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Remaining Lease Payments Due Under Lease | A summary of future payments under operating leases as of December 31, 2016: For the Year Ending December 31, (in thousands) 2017 $ 114 2018 116 2019 61 Total $ 291 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities | The components of the Company’s deferred tax asset are as follows: December 31, 2016 2015 (in thousands) Deferred tax assets-non current Accrued bonuses $ - $ 77 Accrued vacation 32 22 Net operating loss (NOL) carryover 9,166 6,641 Technology licenses amortization 60 64 Research & development tax credits 1,259 877 Share based expense 443 293 Other 9 (10) Total deferred tax asset 10,969 7,964 Less: valuation allowance (10,965) (7,964) Net deferred tax asset 4 - Deferred tax liability- non current (4) - Net deferred tax asset $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation | Reconciliation between income taxes at the statutory tax rate (34%) and the actual income tax provision for continuing operations follows: December 31, 2016 2015 2014 (in thousands) Loss before income taxes $ (6,750) $ (5,467) $ (4,560) Tax (benefit) statutory tax rate (2,295) (1,859) (1,550) Effects of: Exclusion of incentive stock option expense 117 89 83 R&D tax credits (252) (132) (132) Increase in valuation allowance 3,001 1,899 1,530 FMV of warrants (582) - - Prior year adjustments 6 - - Carryforward adjustment - 21 Other 5 3 48 Provision for income taxes $ - $ - $ - |
Quarterly Results of Operatio29
Quarterly Results of Operations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations | Quarterly data for the years ended December 31, 2016 and 2015 is as follows (in thousands): Quarter Ended March 31, June 30, September 30, December 31, 2016 Revenue $ - $ - $ - $ 13 Expenses 1,869 1,944 2,994 1,681 Loss from operations (1,869) (1,944) (2,994) (1,668) Other income 2 2 1,424 297 Net loss (1,867) (1,942) (1,570) (1,371) Net loss per common share - basic and diluted (0.02) (0.02) (0.02) (0.01) Quarter Ended March 31, June 30, September 30, December 31, 2015 Revenue $ - $ - $ - $ - Expenses 1,379 1,131 1,512 1,463 Loss from operations (1,379) (1,131) (1,512) (1,463) Other income 4 5 4 5 Net loss (1,375) (1,126) (1,508) (1,458) Net loss per common share - basic and diluted (0.02) (0.01) (0.02) (0.02) |
Organization and Business - Add
Organization and Business - Additional Information (Detail) - USD ($) $ in Thousands | Jan. 15, 2014 | Jun. 29, 2016 | Jun. 30, 2015 | Jan. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2013 |
Organization and Nature of Operations [Line Items] | ||||||||
Cash | $ 9,375 | $ 13,859 | $ 8,854 | $ 3,552 | ||||
Stock issued during period, shares, new issues | 5,000,000 | 5,882,352 | 5,000,000 | |||||
Stock issued during period, value, new issues | $ 4,388 | $ 13,813 | ||||||
Proceeds from issuance initial public offering | $ 13,800 | $ 9,300 | ||||||
Warrant | ||||||||
Organization and Nature of Operations [Line Items] | ||||||||
Stock issued during period, shares, new issues | 2,500,000 | 2,941,176 | 2,500,000 | |||||
Stock issued during period, value, new issues | $ 15,000 | $ 10,000 | $ 25,000 | |||||
2016 Registered Direct Offering | ||||||||
Organization and Nature of Operations [Line Items] | ||||||||
Proceeds from Issuance Initial Public Offering Net Additional Financing Costs | 9,000 | |||||||
Debt Issuance Costs, Net | 300 | |||||||
Proceeds from Warrant Exercises | 4,300 | |||||||
Proceeds from Issuance of Common Stock | $ 4,700 |
Summary of Significant Accoun31
Summary of Significant Accounting Policies - Addtional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Significant Accounting Policies [Line Items] | ||||||||||||
Other Intangible Assets, Net | $ 1,100,000 | $ 1,100,000 | ||||||||||
Other Finite-Lived Intangible Assets, Gross | 2,500,000 | 2,500,000 | ||||||||||
Research and Development | $ 5,474,000 | 3,020,000 | $ 1,630,000 | |||||||||
Cash | $ 9,375,000 | 8,854,000 | 9,375,000 | 8,854,000 | 13,859,000 | $ 3,552,000 | ||||||
Depreciation | 43,000 | 41,000 | 10,000 | |||||||||
Amortization | $ 161,000 | $ 161,000 | $ 161,000 | |||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5,441,673 | 5,078,611 | 4,734,861 | |||||||||
Net Income Loss | (1,371,000) | $ (1,570,000) | $ (1,942,000) | $ (1,867,000) | (1,458,000) | $ (1,508,000) | $ (1,126,000) | $ (1,375,000) | $ (6,750,000) | $ (5,467,000) | $ (4,519,000) | |
Retained Earnings (Accumulated Deficit), Total | (32,134,000) | (25,384,000) | $ (32,134,000) | $ (25,384,000) | ||||||||
Warrant | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5,951,176 | 2,760,000 | 2,760,000 | |||||||||
Furniture and fixtures | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Property, Plant and Equipment, Useful Life | 7 years | |||||||||||
Computers and equipment | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Property, Plant and Equipment, Useful Life | 3 years | |||||||||||
Scientific equipment | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Property, Plant and Equipment, Useful Life | 7 years | |||||||||||
Leasehold improvements | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Property, Plant and Equipment, Estimated Useful Lives | Lesser of useful life or lease term | |||||||||||
Research and Development Expense | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Technology Amortization Monthly | 1,600,000 | $ 1,600,000 | ||||||||||
Preclinical Stage Biotechnology Company | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Development Project Service Evaluation Exchange Cost | 50,000 | |||||||||||
Technology Services Revenue | 13,000 | |||||||||||
Jp Morgan Chase Bank | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Cash, FDIC Insured Amount | 9,100,000 | 8,600,000 | 9,100,000 | $ 8,600,000 | ||||||||
Federal Deposit Insurance | 250,000 | |||||||||||
Cash | $ 8,900,000 | 8,900,000 | ||||||||||
Md Anderson | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Other Intangible Assets, Net | 900,000 | 900,000 | ||||||||||
Other Finite-Lived Intangible Assets, Gross | 2,500,000 | 2,500,000 | ||||||||||
Amortization of Intangible Assets | 1,600,000 | |||||||||||
License Expenses | $ 100,000 | |||||||||||
Clinical Trial Expense | 100,000 | |||||||||||
Research and Development | 100,000 | |||||||||||
Technology Cost Paid In cash | $ 800,000 | $ 800,000 | ||||||||||
Technology Cost Paid In Shares | 3,100,000 | 3,100,000 | ||||||||||
Technology Cost Paid In Shares Value | $ 2,400,000 | $ 2,400,000 | ||||||||||
Technology Impairment Charge | 700,000 | 700,000 | ||||||||||
Technology Amortization Monthly | $ 200,000 | 200,000 | ||||||||||
Research and Development Costs Expenses | $ 5,500,000 | 3,000,000 | ||||||||||
Equity Method Investment, Ownership Percentage | 5.00% | 5.00% | ||||||||||
Related Party | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
License Maintenance Fees | 100,000 | |||||||||||
Research and Development | $ 0 | $ 0 | 197,000 | |||||||||
Related Party | Research and Development Expense | ||||||||||||
Significant Accounting Policies [Line Items] | ||||||||||||
Sirna Patent Technology License | $ 31,000 |
Prepaid Drug Product for Test32
Prepaid Drug Product for Testing - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Inventory Disclosure [Line Items] | ||
Prepaid drug product for testing | $ 0.4 | $ 0.6 |
Other Current Assets- Additiona
Other Current Assets- Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other Assets Current | $ 902 | $ 179 |
Acute Myeloid Leukemia [Member] | ||
Other Assets Current | 600 | |
Prepaid Expenses [Member] | ||
Other Assets Current | $ 200 | |
Other Prepaid Expenses [Member] | ||
Other Assets Current | $ 300 |
Accounts Payable - Additional I
Accounts Payable - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts Payable [Line Items] | ||
Accounts payable | $ 0.1 | $ 0.1 |
Accrued Expense - Additional In
Accrued Expense - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts Payable and Accrued Liabilities [Line Items] | ||
Accrued expense | $ 969 | $ 883 |
Accrued Vacation And Bonus | 400 | 400 |
Accrued Laboratory Expense | 200 | |
Accrued Clinical And Preclinical | 200 | 300 |
Accrued License Maintenance Fee | 100 | 100 |
Other Accrued Liabilities | $ 100 | $ 100 |
Warrant Liability - Additional
Warrant Liability - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Jul. 05, 2016 | |
Warrant Liability [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | $ 2.9 | $ 4.6 |
Increase (Decrease) in Derivative Liabilities | $ 1.7 | |
Health care Institutional Investors | ||
Warrant Liability [Line Items] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,941,176 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.30 | |
Hc Wainwright Co Llc | ||
Warrant Liability [Line Items] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 250,000 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.46 |
Estimated fair value of Warrant
Estimated fair value of Warrant Liability (Detail) - 2016 Warrants | Jul. 05, 2016 |
Warrant Liability [Line Items] | |
Risk-free interest rate | 0.94% |
Expected volatility | 107.00% |
Expected term in years | 5 years 6 months |
Dividend yield | 0.00% |
Fair Value, Assets and Liabilit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liability, Noncurrent | $ 2,906 | $ 0 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liability, Noncurrent | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liability, Noncurrent | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liability, Noncurrent | $ 2,906 |
Fair Value Of Warrant Liability
Fair Value Of Warrant Liability (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Balance at December 31, 2015 | $ 0 |
Issuance | 4,619 |
Change in fair value | (1,713) |
Balance at December 31, 2016 | $ 2,906 |
Fair Value Assumptions and Meth
Fair Value Assumptions and Methodology for Assets and Liabilities (Detail) - Warrant | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Risk-free interest rate | 1.93% |
Expected volatility | 98.00% |
Expected term in years | 5 years |
Dividend yield | 0.00% |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Jan. 15, 2014 | Jul. 31, 2016 | Jun. 29, 2016 | Jun. 30, 2015 | Jan. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2013 |
Shareholders Equity [Line Items] | |||||||||
Common stock and warrants issued, Value | $ 15,000 | ||||||||
Common Stock, shares issued | 95,645,224 | 89,762,872 | |||||||
Common Stock, shares outstanding | 95,645,224 | 89,762,872 | |||||||
Stock Issued During Period, Value, Stock Options Exercised | $ 436 | ||||||||
Stock Issued During Period Shares New Issues | 5,000,000 | 5,882,352 | 5,000,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 4,388 | 13,813 | |||||||
Stockholders Equity | $ 8,240 | $ 14,917 | $ 9,818 | $ 4,783 | |||||
Investor Warrant | |||||||||
Shareholders Equity [Line Items] | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.30 | ||||||||
Class of Warrant or Right, Warrant Expiration period | 5 years | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,941,176 | ||||||||
Warrant | |||||||||
Shareholders Equity [Line Items] | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4.74 | ||||||||
Stock Issued During Period Shares New Issues | 2,500,000 | 2,941,176 | 2,500,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 15,000 | $ 10,000 | $ 25,000 | ||||||
Common Stock | |||||||||
Shareholders Equity [Line Items] | |||||||||
Exercise of stock options (in shares) | 525,000 | ||||||||
Stock Issued During Period, Value, Stock Options Exercised | $ 1 | ||||||||
Stock Issued During Period Shares New Issues | 5,882,352 | 5,882,000 | 5,000,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 10,000 | $ 6 | $ 5 | ||||||
Stockholders Equity | $ 96 | $ 90 | $ 90 | $ 84 | |||||
Common Stock | Former Director | |||||||||
Shareholders Equity [Line Items] | |||||||||
Exercise of stock options (in shares) | 525,000 | ||||||||
Stock Issued During Period, Value, Stock Options Exercised | $ 400 | ||||||||
Placement Agent | |||||||||
Shareholders Equity [Line Items] | |||||||||
Common stock and warrant issued, shares | 250,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.46 | ||||||||
Class of Warrant or Right, Warrant Expiration period | 5 years | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 250,000 |
Stock-Based Compensation Plans
Stock-Based Compensation Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Stock Based Compensation Plans [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 2.09 | $ 1.33 | $ 2.51 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 2 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0.9 | ||
Stock-based compensation expense | $ 0.8 | $ 0.4 | 0.4 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 2 years 10 months 24 days | ||
Research and Development Expense | |||
Stock Based Compensation Plans [Line Items] | |||
Stock-based compensation expense | $ 0.4 | 0.1 | 0.1 |
General and Administrative Expense | |||
Stock Based Compensation Plans [Line Items] | |||
Stock-based compensation expense | $ 0.4 | $ 0.2 | $ 0.3 |
2007 Stock Incentive Plan | |||
Stock Based Compensation Plans [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 7,067,419 |
Weighted Average Assumptions (D
Weighted Average Assumptions (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation Plans [Line Items] | |||
Risk-free interest rate | 1.37% | 1.65% | 2.12% |
Expected volatility | 109.00% | 138.00% | 174.00% |
Expected term in years | 6 years 1 month 6 days | 6 years 1 month 6 days | 6 years 8 months 12 days |
Dividend yield | 0.00% | 0.00% | 0.00% |
Option Activity Under Plan (Det
Option Activity Under Plan (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share Based Compensation Plans [Line Items] | ||||
Weighted Average Remaining Contractual Term (In years), Outstanding | 2 years 10 months 24 days | |||
Employee Stock Option [Member] | ||||
Share Based Compensation Plans [Line Items] | ||||
Outstanding | 5,752 | 5,428 | 6,032 | |
Granted | 1,315 | 349 | 325 | |
Exercised | 0 | 0 | (525) | |
Forfeited/expired | 0 | (25) | (404) | |
Outstanding | 7,067 | 5,752 | 5,428 | 6,032 |
Vested and expected to vest | 6,728 | 5,666 | 5,428 | |
Exercisable | 5,442 | 5,079 | 4,735 | |
Weighted - Average Exercise Price, Outstanding | $ 1.05 | $ 1.03 | $ 0.90 | |
Weighted - Average Exercise Price, Granted | 2.54 | 1.46 | 2.57 | |
Weighted - Average Exercise Price, Exercised | 0 | 0 | 0.83 | |
Weighted - Average Exercise Price, Forfeited/expired | 0 | 2.71 | 0.68 | |
Weighted - Average Exercise Price, Outstanding | 1.33 | 1.05 | 1.03 | $ 0.90 |
Weighted - Average Exercise Price, Vested and expected to vest | 1.27 | 1.04 | 1.03 | |
Weighted - Average Exercise Price, Exercisable | $ 1.01 | $ 1 | $ 0.99 | |
Weighted Average Remaining Contractual Term (In years), Outstanding | 5 years 2 months 12 days | 5 years 3 months 18 days | 6 years | 6 years 9 months 18 days |
Weighted Average Remaining Contractual Term (In years), Granted | 9 years 3 months 18 days | 9 years 3 months 18 days | 9 years 4 months 24 days | |
Weighted Average Remaining Contractual Term (In years), Vested and expected to vest | 5 years | 5 years 2 months 12 days | 6 years | |
Weighted Average Remaining Contractual Term (In years), Exercisable | 4 years 1 month 6 days | 4 years 10 months 24 days | 5 years 7 months 6 days | |
Aggregate Intrinsic Value, Outstanding | $ 1,972 | $ 8,829 | $ 18,672 | |
Aggregate Intrinsic Value, Outstanding | 2,241 | 1,972 | 8,829 | $ 18,672 |
Aggregate Intrinsic Value, Vested and expected to vest | 2,239 | 1,972 | 8,829 | |
Aggregate Intrinsic Value, Exercisable | $ 2,236 | $ 1,839 | $ 7,931 |
Warrants Outstanding and Exerci
Warrants Outstanding and Exercisable (Detail) shares in Thousands | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Class of Warrant or Right [Line Items] | |
Warrants Outstanding, Number Outstanding | shares | 5,951 |
Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | 3 years 7 months 6 days |
Warrants Outstanding, Weighted Average Exercise Price (per share) | $ / shares | $ 3.43 |
Warrants Exercisable, Number Exercisable | shares | 2,760 |
Warrants Exercisable, Weighted Average Exercise Price (per share) | $ / shares | $ 4.73 |
Warrants 2013 [Member] | |
Class of Warrant or Right [Line Items] | |
Warrants Outstanding, Number Outstanding | shares | 10 |
Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | 1 year 3 months 18 days |
Warrants Outstanding, Weighted Average Exercise Price (per share) | $ / shares | $ 0.90 |
Warrants Exercisable, Number Exercisable | shares | 10 |
Warrants Exercisable, Weighted Average Exercise Price (per share) | $ / shares | $ 0.90 |
Warrants 2014 [Member] | |
Class of Warrant or Right [Line Items] | |
Warrants Outstanding, Number Outstanding | shares | 2,750 |
Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | 2 years 1 month 6 days |
Warrants Outstanding, Weighted Average Exercise Price (per share) | $ / shares | $ 4.74 |
Warrants Exercisable, Number Exercisable | shares | 2,750 |
Warrants Exercisable, Weighted Average Exercise Price (per share) | $ / shares | $ 4.74 |
Warrants 2015 [Member] | |
Class of Warrant or Right [Line Items] | |
Warrants Outstanding, Number Outstanding | shares | 0 |
Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | 0 years |
Warrants Outstanding, Weighted Average Exercise Price (per share) | $ / shares | $ 0 |
Warrants Exercisable, Number Exercisable | shares | 0 |
Warrants Exercisable, Weighted Average Exercise Price (per share) | $ / shares | $ 0 |
Warrants 2016 [Member] | |
Class of Warrant or Right [Line Items] | |
Warrants Outstanding, Number Outstanding | shares | 3,191 |
Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | 5 years |
Warrants Outstanding, Weighted Average Exercise Price (per share) | $ / shares | $ 2.31 |
Warrants Exercisable, Number Exercisable | shares | 0 |
Warrants Exercisable, Weighted Average Exercise Price (per share) | $ / shares | $ 0 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | 1 Months Ended | 12 Months Ended | |
Apr. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Product Liability Contingency [Line Items] | |||
Accounts payable and accrued liabilities | $ 100,000 | $ 100,000 | |
Drug Product Testing Agreement Consideration To Be Paid In Stages | 100,000 | ||
Operating Leases, Future Minimum Payments Due | 291 | ||
Drug Supplier Commitments Development | 200,000 | ||
Prepaid Expense, Current | 376,000 | $ 560,000 | |
Other Commitment | 500,000 | ||
Office Space [Member] | |||
Product Liability Contingency [Line Items] | |||
Operating Leases, Future Minimum Payments Due | 200,000 | ||
Lab Space [Member] | |||
Product Liability Contingency [Line Items] | |||
Operating Leases, Future Minimum Payments Due | 100,000 | ||
Operating Lease Monthly Rental Payments | $ 2,500 | ||
Second Drug [Member] | |||
Product Liability Contingency [Line Items] | |||
Prepaid Expense, Current | 100,000 | ||
Final Drug [Member] | |||
Product Liability Contingency [Line Items] | |||
Drug Product Testing Agreement Consideration To Be Paid In Stages | $ 100,000 |
Schedule of future payments und
Schedule of future payments under operating leases (Detail) | Dec. 31, 2016USD ($) |
Operating Leased Assets [Line Items] | |
2,017 | $ 114 |
2,018 | 116 |
2,019 | 61 |
Total | $ 291 |
Benefit Plan - Additional Infor
Benefit Plan - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Accumulated Benefit Obligation | $ 48,000 |
General Discussion of Pension and Other Postretirement Benefits | We make matching contributions equal to 100% of the first 3% and 50% of the next 2% of each employees base salary up to the allowable amount which is fully vested on the date the matching contributions are made. |
Income Taxes - Addtional Inform
Income Taxes - Addtional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax [Line Items] | |||
Operating Loss Carryforwards | $ 27,000 | ||
Deferred Tax Assets, Tax Credit Carryforwards, Research | 1,259 | $ 877 | |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 3,001 | $ 1,899 | $ 1,530 |
Research And Development Tax Credit Carryforward, Expiration Period | 2028 years | ||
Research and Development Expense [Member] | |||
Income Tax [Line Items] | |||
Deferred Tax Assets, Tax Credit Carryforwards, Research | $ 1,300 | ||
Minimum [Member] | |||
Income Tax [Line Items] | |||
Operating Loss Carry forwards Expiration Period | 2,026 |
Components Of Companys Deferred
Components Of Companys Deferred Tax Asset (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets-non current | ||
Accrued bonuses | $ 0 | $ 77 |
Accrued vacation | 32 | 22 |
Net operating loss (NOL) carryover | 9,166 | 6,641 |
Technology licenses amortization | 60 | 64 |
Research & development tax credits | 1,259 | 877 |
Share based expense | 443 | 293 |
Other | 9 | (10) |
Total deferred tax asset | 10,969 | 7,964 |
Less: valuation allowance | (10,965) | (7,964) |
Net deferred tax asset | 4 | 0 |
Deferred tax liability- non current | (4) | 0 |
Net deferred tax asset | $ 0 | $ 0 |
Reconciliation Between Income T
Reconciliation Between Income Taxes at Statutory Tax Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | |||
Loss before income taxes | $ (6,750) | $ (5,467) | $ (4,560) |
Tax (benefit) @ statutory tax rate | (2,295) | (1,859) | (1,550) |
Effects of: | |||
Exclusion of incentive stock option expense | 117 | 89 | 83 |
R&D tax credits | (252) | (132) | (132) |
Increase in valuation allowance | 3,001 | 1,899 | 1,530 |
FMV of warrants | (582) | 0 | 0 |
Prior year adjustments | 6 | 0 | 0 |
Carryforward adjustment | 0 | 21 | |
Other | 5 | 3 | 48 |
Provision for income taxes | $ 0 | $ 0 | $ 0 |
Quarterly Results of Operatio52
Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Information [Line Items] | |||||||||||
Revenue | $ 13 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 13 | $ 0 | $ 0 |
Expenses | 1,681 | 2,994 | 1,944 | 1,869 | 1,463 | 1,512 | 1,131 | 1,379 | 8,488 | 5,485 | 4,542 |
Loss from operations | (1,668) | (2,994) | (1,944) | (1,869) | (1,463) | (1,512) | (1,131) | (1,379) | (8,475) | (5,485) | (4,542) |
Other income | 297 | 1,424 | 2 | 2 | 5 | 4 | 5 | 4 | 1,725 | 18 | 23 |
Net loss | $ (1,371) | $ (1,570) | $ (1,942) | $ (1,867) | $ (1,458) | $ (1,508) | $ (1,126) | $ (1,375) | $ (6,750) | $ (5,467) | $ (4,519) |
Net loss per common share - basic and diluted | $ (0.01) | $ (0.02) | $ (0.02) | $ (0.02) | $ (0.02) | $ (0.02) | $ (0.01) | $ (0.02) | $ (0.07) | $ (0.06) | $ (0.05) |