Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 01, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Ampio Pharmaceuticals, Inc. | ||
Entity Central Index Key | 1,411,906 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Public Float | $ 34.4 | ||
Trading Symbol | AMPE | ||
Entity Common Stock, Shares Outstanding | 84,848,918 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash and cash equivalents | $ 8,209,071 | $ 4,894,834 |
Trading security Aytu BioScience, Inc. (Note 4) | 11,398 | 122,641 |
Prepaid expenses and other | 222,417 | 240,890 |
Prepaid research and development - related party (Note 10) | 0 | 143,802 |
Total current assets | 8,442,886 | 5,402,167 |
Fixed assets, net (Note 2) | 6,837,861 | 7,980,011 |
Long-term portion of prepaid research and development - related party (Note 10) | 0 | 179,752 |
Deposits | 33,856 | 33,856 |
Total assets | 15,314,603 | 13,595,786 |
Current liabilities | ||
Accounts payable and accrued expenses | 2,785,529 | 709,294 |
Accrued compensation | 1,033,261 | 1,365,693 |
Deferred rent | 59,579 | 59,579 |
Total current liabilities | 3,878,369 | 2,134,566 |
Long-term deferred rent | 537,364 | 588,303 |
Warrant derivative liability | 45,075,755 | 4,238,606 |
Total liabilities | 49,491,488 | 6,961,475 |
Commitments and contingencies (Note 7) | ||
Stockholders' equity | ||
Preferred Stock, par value $.0001; 10,000,000 shares authorized; none issued | 0 | 0 |
Common Stock, par value $.0001; 200,000,000 shares authorized as of 2017 and 100,000,000 shares authorized as of 2016; shares issued and outstanding - 80,060,345 in 2017 and 57,179,686 in 2016 | 8,006 | 5,718 |
Additional paid-in capital | 170,803,783 | 159,732,194 |
Advance to stockholder | 0 | (25,160) |
Accumulated deficit | (204,988,674) | (153,078,441) |
Total stockholders' equity | (34,176,885) | 6,634,311 |
Total liabilities and stockholders' equity | $ 15,314,603 | $ 13,595,786 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred Stock, par value | $ 0.0001 | $ 0.0001 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Common Stock, par value | $ 0.0001 | $ 0.0001 |
Common Stock, shares authorized | 200,000,000 | 100,000,000 |
Common Stock, shares issued | 80,060,345 | 57,179,686 |
Common Stock, shares outstanding | 80,060,345 | 57,179,686 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating expenses | |||
Research and development | $ 10,097,178 | $ 10,402,485 | $ 14,967,884 |
Research and development - related party (Note 10) | 323,554 | 143,802 | 143,802 |
General and administrative | 5,144,224 | 6,536,067 | 9,055,885 |
Total operating expenses | 15,564,956 | 17,082,354 | 24,167,571 |
Other income (expense) | |||
Interest income | 3,086 | 23,479 | 11,489 |
Related party interest income (Note 10) | 0 | 0 | 48,364 |
Derivative loss | (36,218,832) | (915,141) | 0 |
Unrealized loss on trading security | (111,243) | (146,260) | 0 |
Loss from equity investment in Aytu BioScience, Inc. | 0 | (1,043,353) | 0 |
Total other (expense) income | (36,326,989) | (2,081,275) | 59,853 |
Net loss from continuing operations | (51,891,945) | (19,163,629) | (24,107,718) |
Loss from discontinued operations (Note 4) | 0 | 0 | (9,606,199) |
Total net loss | (51,891,945) | (19,163,629) | (33,713,917) |
Net loss applicable to non-controlling interest | 0 | 0 | 1,703,675 |
Net loss net of non-controlling interest | $ (51,891,945) | $ (19,163,629) | $ (32,010,242) |
Basic and diluted net loss per common share | |||
From continuing operations | $ (0.7947) | $ (0.36) | $ (0.46) |
From discontinuing operations and non-controlling interest | 0 | 0 | (0.16) |
Net loss per share applicable to Ampio | $ (0.79) | $ (0.36) | $ (0.62) |
Weighted average number of common shares outstanding | 65,297,348 | 53,773,145 | 51,992,048 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity - USD ($) | Total | Common Stock [Member] | Additional Paid in Capital [Member] | Advance to Stockholder [Member] | Accumulated Deficit [Member] | Non-controlling Interest [Member] |
Beginning Balance at Dec. 31, 2014 | $ 65,458,518 | $ 5,197 | $ 168,108,278 | $ (90,640) | $ (101,904,570) | $ (659,747) |
Beginning Balance, shares at Dec. 31, 2014 | 51,972,266 | |||||
Issuance of common stock for services | 30,000 | $ 1 | 29,999 | 0 | 0 | 0 |
Issuance of common stock for services, shares | 7,998 | |||||
Options exercised, net | 28,749 | $ 1 | 28,748 | 0 | 0 | 0 |
Options exercised, net, shares | 10,416 | |||||
Warrants exercised, net | 1 | $ 1 | 0 | 0 | 0 | 0 |
Warrants exercised, net, shares | 7,626 | |||||
Warrant modification | 422,177 | $ 0 | 422,177 | 0 | 0 | 0 |
Stock-based compensation | 4,957,785 | 0 | 4,957,785 | 0 | 0 | 0 |
Stock-based compensation - discontinuing operations | 791,165 | 0 | 791,165 | 0 | 0 | 0 |
Payments for equity-based transactions - discontinuing operations | (47,490) | 0 | (47,490) | 0 | 0 | 0 |
Non-controlling interest on contributed assets | 0 | 0 | (3,291,252) | 0 | 0 | 3,291,252 |
Net loss | (33,713,917) | 0 | 0 | 0 | (32,010,242) | (1,703,675) |
Ending Balance at Dec. 31, 2015 | 37,926,988 | $ 5,200 | 170,999,410 | (90,640) | (133,914,812) | 927,830 |
Ending Balance, shares at Dec. 31, 2015 | 51,998,306 | |||||
Issuance of common stock for services | 60,000 | $ 2 | 59,998 | 0 | 0 | 0 |
Issuance of common stock for services, shares | 18,126 | |||||
Distribution to stockholders | (13,018,687) | $ 0 | (13,018,687) | 0 | 0 | 0 |
Change in non-controlling interest | (927,830) | 0 | 0 | 0 | 0 | (927,830) |
Issuance of common stock, net of offering costs | $ 0 | $ 500 | (500) | 0 | 0 | 0 |
Issuance of common stock, net of offering costs, shares | 5,000,000 | 5,000,000 | ||||
Warrants issued in connection with Registered Direct Offering to the placement agent | $ 88,530 | $ 0 | 88,530 | 0 | 0 | 0 |
Issuance of common stock net of offering costs of $102,530 | 50,783 | $ 16 | 50,767 | 0 | 0 | 0 |
Issuance of common stock net of offering costs of $102,530, shares | 163,254 | |||||
Warrant modification | 36,643 | $ 0 | 36,643 | 0 | 0 | 0 |
Stock-based compensation | 1,516,033 | 0 | 1,516,033 | 0 | 0 | 0 |
Repayment of advance to shareholders | 65,480 | 0 | 0 | 65,480 | 0 | 0 |
Net loss | (19,163,629) | 0 | 0 | 0 | (19,163,629) | 0 |
Ending Balance at Dec. 31, 2016 | 6,634,311 | $ 5,718 | 159,732,194 | (25,160) | (153,078,441) | 0 |
Ending Balance, shares at Dec. 31, 2016 | 57,179,686 | |||||
Issuance of common stock for services | 60,000 | $ 6 | 59,994 | 0 | 0 | 0 |
Issuance of common stock for services, shares | 62,478 | |||||
Issuance of common stock, net of offering costs | 7,000,382 | $ 1,870 | 6,998,512 | 0 | 0 | 0 |
Issuance of common stock, net of offering costs, shares | 18,699,645 | |||||
Warrants issued in connection with Registered Direct Offering to the placement agent | 369,465 | $ 0 | 369,465 | 0 | 0 | 0 |
Cumulative effect of ASU 2016-09, net | 0 | 0 | 18,288 | 0 | (18,288) | 0 |
Options exercised, net | $ 34,001 | $ 7 | 33,994 | 0 | 0 | 0 |
Options exercised, net, shares | 66,667 | 66,667 | ||||
Warrants exercised, net | $ 2,772,344 | $ 405 | 2,771,939 | 0 | 0 | 0 |
Warrants exercised, net, shares | 4,051,869 | |||||
Warrant modification | 74,527 | $ 0 | 74,527 | 0 | 0 | 0 |
Stock-based compensation | 744,870 | 0 | 744,870 | 0 | 0 | 0 |
Write-off of advances to stockholder | 25,160 | 0 | 0 | 25,160 | 0 | 0 |
Net loss | (51,891,945) | 0 | 0 | 0 | (51,891,945) | 0 |
Ending Balance at Dec. 31, 2017 | $ (34,176,885) | $ 8,006 | $ 170,803,783 | $ 0 | $ (204,988,674) | $ 0 |
Ending Balance, shares at Dec. 31, 2017 | 80,060,345 |
Statements of Stockholders' Eq6
Statements of Stockholders' Equity (Parenthetical) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 1,721,173 | |
Common Stock One [Member] | ||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 426,535 | |
Common Stock Two [Member] | ||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 102,530 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | |||
Net loss | $ (51,891,945) | $ (19,163,629) | $ (33,713,917) |
Adjustments to reconcile net loss to net cash used in operating activities | |||
Loss from discontinued operations | 0 | 0 | 9,606,199 |
Stock-based compensation | 744,870 | 1,516,033 | 4,957,785 |
Warrant modification expense | 74,527 | 36,643 | 422,177 |
Depreciation and amortization | 1,214,474 | 1,214,453 | 824,827 |
Write-off of advances to stockholder | 25,160 | 0 | 0 |
Amortization of prepaid research and development - related party (Note 10) | 323,555 | 143,802 | 143,802 |
Common stock issued for services | 60,000 | 60,000 | 30,000 |
Derivative expense | 36,218,832 | 915,141 | 0 |
Loss on equity investment in Aytu BioSciences, Inc. | 0 | 1,043,353 | 0 |
Unrealized loss on trading security | 111,243 | 146,260 | 0 |
Changes in operating assets and liabilities | |||
Decrease (increase) in related party accounts receivable and payable | 0 | 38,451 | (38,450) |
Decrease in prepaid expenses and other | 18,473 | 80,684 | 298,350 |
Increase (decrease) in accounts payable and accrued expenses | 2,076,235 | (1,095,074) | (1,143,831) |
Decrease in deferred rent | (50,939) | (41,265) | (31,592) |
(Decrease) increase in accrued compensation | (332,432) | 480,176 | 744,099 |
Net cash used in operating activities - continuing operations | (11,407,947) | (14,624,972) | (17,900,551) |
Net cash used in operating activities - discontinuing operations | 0 | 0 | (8,543,559) |
Net cash used in operating activities | (11,407,947) | (14,624,972) | (26,444,110) |
Cash flows used in investing activities | |||
Purchase of fixed assets | (72,325) | (6,844) | (110,495) |
Investment in Aytu BioScience, Inc. | 0 | 0 | (16,300,000) |
Related party interest | 0 | 0 | 120,938 |
Net cash used in investing activities - continuing operations | (72,325) | (6,844) | (16,289,557) |
Net cash used in investing activities - discontinuing operations | 0 | 0 | (1,786,989) |
Net cash used in investing activities | (72,325) | (6,844) | (18,076,546) |
Cash flows from financing activities | |||
Proceeds from sale of common stock related to the Registered Direct Offering | 13,339,873 | 3,750,000 | 0 |
Costs related to sale of common stock related to the Registered Direct Offering | (1,351,708) | (338,005) | 0 |
Repayment of advances to shareholders | 0 | 65,480 | 0 |
Proceeds from option and warrant exercise | 2,806,344 | 0 | 28,750 |
Net cash provided by financing activities - continuing operations | 14,794,509 | 3,528,258 | 28,750 |
Net cash provided by financing activities - discontinuing operations | 0 | 21,129,188 | |
Net cash provided by financing activities | 14,794,509 | 3,528,258 | 21,157,938 |
Net change in cash and cash equivalents | 3,314,237 | (11,103,558) | (23,362,718) |
Cash and cash equivalents at beginning of period | 4,894,834 | 15,998,392 | 50,320,656 |
Cash and cash equivalents at end of period | 8,209,071 | 4,894,834 | 26,957,938 |
Less cash and cash equivalents of discontinued operations | 0 | 0 | 10,959,546 |
Cash and cash equivalents of continuing operations | 8,209,071 | 4,894,834 | 15,998,392 |
Non-cash transactions: | |||
Distribution to stockholders | 0 | 13,018,687 | 0 |
Warrant derivative liability - registered offering | 4,618,318 | 4,127,130 | 0 |
Warrants issued to placement agent in connection with registered offering | 369,465 | 88,530 | 0 |
Placement agent warrant exercises, net | 17 | 0 | 0 |
Controlled Equity Offering [Member] | |||
Cash flows from financing activities | |||
Proceeds from sale of common stock related to the Registered Direct Offering | 0 | 153,313 | 0 |
Costs related to sale of common stock related to the Registered Direct Offering | $ 0 | $ (102,530) | $ 0 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Note 1 Basis of Presentation The accompanying financial statements have been prepared in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”). Ampio Pharmaceuticals, Inc. (“Ampio” or “the Company”) is a biopharmaceutical company focused primarily on developing compounds that decrease inflammation by (i) inhibiting specific pro-inflammatory compounds by affecting specific pathways at the protein expression and at the transcription level; (ii) activating specific phosphatase or depleting available phosphate needed for the inflammation process; and (iii) decreasing vascular permeability. Ampio’s activities have been primarily related to research and development and raising capital. The Company has not generated revenue to date. On January 4, 2016, Ampio completed the spin-off of Aytu BioScience, Inc. (“Aytu”) by distributing a majority of its shares of common stock of Aytu to the Ampio shareholders on a pro rata basis. This transaction changed Ampio’s ownership from 81.5% to 8.6% of Aytu’s outstanding shares on that date. Due to this transaction, the financial statements for Ampio and Aytu were deconsolidated in the beginning of 2016. Therefore, the financial statements will reflect the results of Aytu as discontinued operations in 2015. Ampio reclassified its remaining investment in Aytu to a trading security in July of 2016. As of December 31, 2017, Ampio’s ownership has been reduced to less than 1.0%. See Note 4 for more details |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 Summary of Significant Accounting Policies Ampio considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of money market fund investments. Ampio’s investment policy is to preserve principal and maintain liquidity. Ampio periodically monitors its positions with, and the credit quality of, the financial institutions with which it invests. During the year and as of December 31, 2017, Ampio has maintained balances in excess of federally insured limits. Trading securities are held at fair value based on quoted prices on the national exchanges as of the balance sheet date. The fluctuations in the value of the trading securities for unrealized gains and losses are recorded in the statement of operations in the period that they occur. Fixed assets are recorded at cost and once placed in service, are depreciated using the straight-line method over their estimated useful lives. Leasehold improvements are accreted over the shorter of the estimated economic life or related lease terms. Estimated December 31, Useful Lives in Years 2017 2016 Manufacturing facility/clean room 8 $ 2,773,000 $ 2,734,000 Leasehold improvements 10 6,075,000 6,075,000 Office furniture and equipment 3 -10 557,000 557,000 Lab equipment 5 -10 1,059,000 1,026,000 Less accumulated depreciation and amortization (3,626,000) (2,412,000) Fixed assets, net $ 6,838,000 $ 7,980,000 Years Ended December 31, 2017 2016 2015 Depreciation and Amortization Expense $ 1,214,000 $ 1,214,000 $ 825,000 Accrued compensation consists of earned paid time off (PTO) and the employee bonus accrual. Bonuses for the executive officers are contingent upon the Company filing the Ampion BLA with the FDA and raising additional capital to meet the Company’s operating needs. The bonus accrual is also based on achievements of the executive officers and the Company’s performance during fiscal 2017. The Compensation Committee evaluates the executive officers performance and gives final approval of bonuses. As of the filing date of this report, a majority of the bonus accrual had not been paid out. The preparation of financial statements in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant items subject to such estimates and assumptions include the fair value of warrant derivative liability, stock-based compensation, useful lives of fixed assets, impairment of fixed assets, bonus accrual, valuation allowance and going concern. Actual results could differ from these estimates. In connection with the June 2017 registered direct offering, Ampio issued to investors warrants to purchase an aggregate of approximately 11.0 0.76 See Note 5 and 9 for more details In the 2016 registered direct offering, Ampio issued to an investor warrants to purchase an aggregate of 5.0 1.00 1.00 0.40 See Note 5 and 9 for more details Deferred taxes are recorded using the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Basic net loss per share includes no dilution and is computed by dividing the net loss available to common stockholders by the weighted-average number of shares outstanding during the period. Diluted net loss per share reflects the potential of securities that could share in the net loss of Ampio. Basic and diluted loss per share was the same in 2017, 2016 and 2015. There were common stock equivalents of 20,579,408 12,824,408 7,814,908 Ampio accounts for share based payments by recognizing compensation expense based upon the estimated fair value of the awards on the date of grant. Ampio determines the estimated grant fair value using the Black-Scholes option pricing model and recognizes compensation costs ratably over the requisite service period, which approximates the vesting period using the graded method. Research and development costs are expensed as incurred with expense recorded in the respective periods. The Company’s financial instruments include cash and cash equivalents, trading security in Aytu, accounts payable and accrued expenses, and warrant derivative liability. The carrying amounts of financial instruments, including cash and cash equivalents, accounts payable and accrued expenses are carried at cost which approximates fair value due to the short maturity of these instruments. The fair value of trading securities is based on quoted market prices. Warrants were recorded at estimated fair value based on a Black-Scholes warrant pricing model. See Note 5 for more details. Ampio routinely performs an annual evaluation of the recoverability of the carrying value of its long-lived assets to determine if facts and circumstances indicate that the carrying value of assets or intangible assets may be impaired and if any adjustment is warranted. Based on Ampio’s evaluation as of December 31, 2017 and 2016, no impairment existed for long-lived assets. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “Compensation -Stock Compensation (Topic 718): Improvements to Employee Share Based Payment Accounting” 18,000 Recent Accounting Pronouncements In July 2017, the FASB issued ASU 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception”. In May 2017, the FASB issued ASU 2017-09, “Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting”. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 3 Going Concern As reflected in the accompanying financial statements, the Company had cash of $ 8.2 51.9 11.4 205.0 34.2 In December 2017, the Company received a total of $2.8 million from investor warrants being exercised (See Note 9). In October 2017, the Company raised net proceeds of $ 6.3 The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern. |
Trading Security Aytu BioScienc
Trading Security Aytu BioScience, Inc. | 12 Months Ended |
Dec. 31, 2017 | |
Investment Disclosure [Abstract] | |
Investment Disclosure | Note 4 Trading Security Aytu BioScience, Inc. On January 4, 2016, Ampio completed the spin-off of Aytu by distributing a majority of its shares of common stock of Aytu to the Ampio shareholders on a pro rata basis. This transaction changed Ampio’s ownership from 81.5 8.6 In July 2016, the Company determined that Ampio’s influence was no longer significant over Aytu’s Board of Directors. Ampio reclassified its remaining investment in Aytu to a trading security in July of 2016. The Aytu security is recorded at fair value on the accompanying balance sheet with the change in fair value recorded as an unrealized loss on the statement of operations. As of December 31, 2017, Ampio’s ownership in Aytu’s outstanding shares was less than 1.0%. |
Fair Value Considerations
Fair Value Considerations | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Note 5 Fair Value Considerations Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of Ampio. Unobservable inputs are inputs that reflect the Company’s assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on reliability of the inputs as follows: Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to Ampio for identical assets or liabilities; Level 2: Inputs include quoted prices for similar assets and liabilities in active or inactive markets or that are observable for the asset or liability either directly or indirectly; and Level 3: Unobservable inputs that are supported by little or no market activity. Ampio’s assets and liabilities which are measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Ampio’s policy is to recognize transfers in and/or out of fair value hierarchy as of the date in which the event or change in circumstances caused the transfer. Ampio has consistently applied the valuation techniques discussed below in all periods presented. The valuation policies are determined by the Chief Financial Officer and approved by the Company’s Board of Directors. The following table presents Ampio’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2017 and 2016, by level within the fair value hierarchy: Fair Value Measurements Using Level 1 Level 2 Level 3 Total December 31, 2017 ASSETS Trading security Aytu (Note 4) $ 12,000 $ - $ - $ 12,000 LIABILITIES Warrant derivative liability $ - $ - $ 45,076,000 $ 45,076,000 December 31, 2016 ASSETS Trading security Aytu (Note 4) $ 123,000 $ - $ - $ 123,000 LIABILITIES Warrant derivative liability $ - $ - $ 4,239,000 $ 4,239,000 On August 25, 2017, Aytu announced a 1-for-20 stock split which automatically converted twenty shares of Aytu’s common stock into one new share of common stock. The estimated fair value of the Company’s investment, the trading security in Aytu, is recorded at fair value which represents Ampio’s ownership shares in Aytu of 5,111 multiplied by Aytu’s closing stock price on December 31, 2017 and December 31, 2016, which is classified as Level 1 (quoted price is available). Unrealized Fair Value at Maturity in Years Value at December 31, Gains Losses December 31, Trading security Aytu (Note 4) Less than 1 year $ 123,000 $ - $ (111,000) $ 12,000 The warrant derivative liability was valued using the Black-Scholes valuation methodology because that model embodies all the relevant assumptions that address the features underlying these instruments. For significant assumptions in valuing the warrant derivative liability as of December 31, 2017 and at issuance (see Note 9). The following table sets forth a reconciliation of changes in the fair value of financial liabilities classified as Level 3 in the fair valued hierarchy: Derivative Instruments Balance as of December 31, 2016 $ 4,239,000 Warrant issuances 4,618,000 Warrant exercises (9,753,000) Change in fair value 45,972,000 Balance as of December 31, 2017 $ 45,076,000 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 6 Income Taxes Income tax benefit resulting from applying statutory rates in jurisdictions in which Ampio is taxed (Federal and State of Colorado) differs from the income tax provision (benefit) in Ampio’s financial statements. Years Ended December 31, 2017 2016 2015 Benefit at federal statutory rate (34.0) % (34.0) % (34.0) % State, net of federal income tax impact (0.9) % (2.9) % (3.0) % Change in federal tax rate 35.8 % 0.0 % 0.0 % Stock-based compensation 0.0 % 0.4 % 1.2 % Registered offering loss / warrant expense 23.7 % 1.5 % 0.0 % Aytu change from subsidiary to investee 0.0 % (3.5) % 0.0 % Change in valuation allowance (24.6) % 38.5 % 35.8 % Effective tax rate 0.0 % 0.0 % 0.0 % Deferred income taxes arise from temporary differences in the recognition of certain items for income tax and financial reporting purposes. Years Ended December 31, 2017 2016 2015 Long-term deferred income tax assets (liabilities): Accrued liabilities $ 247,000 $ 506,000 $ 328,000 Deferred rent 147,000 240,000 255,000 Net operating loss carryforward 32,766,000 41,478,000 35,487,000 Share-based compensation 3,192,000 4,661,000 4,182,000 Unrealized loss on trading security 771,000 1,118,000 - Property and equipment (236,000) (233,000) (180,000) Warrants 82,000 33,000 - Less: Valuation allowance (36,969,000) (47,803,000) (40,072,000) Total long-term deferred income tax assets (liabilities) $ - $ - $ - During the year ended December 31, 2015, Ampio adopted the guidance issued in ASU 2015-17 on presentation of deferred tax liabilities and assets. The guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. Adoption of this new guidance did not have a material impact on the Company’s financial statements and adoption served to simplify the presentation of the Company’s deferred income taxes while maintaining the usefulness of the information provided. For the years ended December 31, 2017, 2016 and 2015, Ampio’s net provision for income taxes was zero for all jurisdictions. As of December 31, 2017, Ampio has approximately $ 132.8 2019 2037 Ampio has provided a full valuation allowance against its deferred tax assets as it has determined that it is not more likely than not that recognition of such deferred tax assets will be utilized in the foreseeable future. The amount of income taxes and related income tax positions taken are subject to audits by federal and state tax authorities. Ampio has adopted accounting guidance for uncertain tax positions which provides that to recognize an uncertain tax benefit, the taxpayer must be more likely than not of sustaining the position, and the measurement of the benefit is calculated as the largest amount that is more than 50 In December 2017, the Tax Cuts and Jobs Act (the "2017 Tax Act") was enacted. The 2017 Tax Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax rate from 35 21 As a result of the 2017 Tax Act, the Company recorded a provisional tax expense of $ 18.6 related to the remeasurement of deferred tax assets and liabilities to reflect the reduction in the U.S. corporate income tax rate from 35% to 21%. The Company recognized a corresponding $ 18.6 18.6 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 7 Commitments and Contingencies Total 2018 2019 2020 2021 2022 Thereafter Ampion supply agreement $ 7,650,000 $ 2,550,000 $ 2,550,000 $ 2,550,000 $ - $ - $ - Clinical research and trial obligations 3,049,000 3,049,000 - - - - - Facility lease 2,321,000 316,000 326,000 335,000 345,000 355,000 644,000 $ 13,020,000 $ 5,915,000 $ 2,876,000 $ 2,885,000 $ 345,000 $ 355,000 $ 644,000 Ampion Supply Agreement In October 2013, Ampio entered into a human serum albumin ingredient and purchase sale agreement which has a remaining commitment of $ 7.7 Clinical Research and Trial Obligations As of December 31, 2017, Ampio has committed to $ 3.0 Facility Lease In December 2013, Ampio began a 125 23,000 3.3 Years Ended December 31, 2017 2016 2015 Rent expense $ 260,000 $ 259,000 $ 255,000 |
Common Stock
Common Stock | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Common Stock | Note 8 Common Stock Capital Stock At December 31, 2017 and 2016, Ampio had 200.00 100.0 0.0001 10.0 0.0001 At December 31, 2017 and 2016, Ampio had 80,060,345 57,179,686 Shelf Registration In March 2017, Ampio filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (“SEC”) to register Ampio common stock and warrants in an aggregate amount of up to $ 100.0 5.0 78.3 Registered Direct Offering In October 2017, the Company entered into a Securities Purchase Agreement, with certain investors, pursuant to which the Company sold approximately 7.7 0.875 6.7 490,000 In June 2017, the Company completed a registered direct offering. In this offering, Ampio issued directly to multiple investors approximately 11.0 11.0 0.60 6.6 35 June 2, 2019 The investor warrants have an exercise price of $ 0.76 4.6 In connection with the offering, the placement agent received an 8 533,000 879,000 0.76 369,000 The Company also incurred expenses related to legal, accounting, and other registration cost of $ 292,000 In September 2016, the Company completed a registered direct offering. In this offering, the Company issued directly to an institutional investor 5.0 5.0 0.75 3.75 30 September 1, 2017 The investor warrants had an exercise price of $ 1.00 4.1 In connection with the offering, the placement agent received a 6 225,000 150,000 0.9375 89,000 The Company also incurred expenses related to legal, accounting, and other registration cost of $ 113,000 The Company’s net cash proceeds from the registered direct offering were $ 3.4 4.2 5.0 150,000 804,000 On March 27, 2017, the Company entered into a Waiver and Consent Letter Agreement with the investor from September 2016, amending the terms of the warrants previously issued. Under the Waiver and Consent Agreement, the investor waived the right to have the warrant exercise price reduced and the number of shares of common stock underlying the warrant increased in the event the Company secures any financing, including debt, which includes issuing or selling shares of common stock for a price per share less than the warrant exercise price. The investor also waived the prohibition on the Company’s ability to issue or sell shares of its common stock, options or convertible securities at a price which varies or may vary with the market price of the common stock or pursuant to an equity credit line or similar “at-the-market” offering. The waivers are permanent. In return, the Company agreed to reduce the exercise price of the warrants from $ 1.00 0.40 1.1 Controlled Equity Offering In February 2016, Ampio entered into a Controlled Equity Offering SM 25.0 3.0 Years Ended December 31, 2017 2016 Total shares of common stock sold - 163,254 Average price per share $ - $ 0.94 Gross proceeds $ - $ 153,000 Commissions earned by placement agent $ - $ 5,000 Other expenses $ - $ 98,000 No shares were sold under the Agreement during fiscal 2017. Common Stock Issued for Services Ampio issued 62,478 18,126 7,998 60,000 60,000 30,000 |
Equity Instruments
Equity Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Instruments | Note 9 Equity Instruments Options In 2010, Ampio shareholders approved the adoption of a stock and option award plan (the “2010 Plan”), under which shares were reserved for future issuance under restricted stock awards, options, and other equity awards. The 2010 Plan permits grants of equity awards to employees, directors and consultants. The shareholders have approved a total of 11.7 During 2015, the Company granted 1,093,000 3.28 45,000 303,000 During 2016, the Company granted 350,000 1.11 119,999 230,001 490,000 470,000 During 2017, the Company granted 1,581,334 0.66 638,000 943,334 66,667 0.51 1,443,334 Number of Options Weighted Average Weighted Average Aggregate Intrinsic Outstanding December 31, 2014 6,568,248 $ 3.82 7.66 Granted 1,093,000 $ 3.28 Exercised (10,416) $ 2.76 Forfeited (275,000) $ 4.80 Expired or Cancelled (60,000) $ 3.53 Outstanding December 31, 2015 7,315,832 $ 3.71 6.58 Granted 350,000 $ 1.11 Exercised - $ - Forfeited - $ - Expired or Cancelled (490,000) $ 2.79 Outstanding December 31, 2016 7,175,832 $ 3.64 4.99 Granted 1,581,334 $ 0.66 Exercised (66,667) $ 0.51 Forfeited (1,443,334) $ 4.01 Expired or Cancelled - $ - Outstanding December 31, 2017 7,247,165 $ 2.87 5.16 12,739,512 Exercisable at December 31, 2017 6,330,497 $ 3.17 4.57 9,728,318 Available for grant at December 31, 2017 2,911,169 Range of Exercise Prices Number of Weighted Weighted Average $0.48 - $2.00 3,135,221 $ 0.91 6.17 $2.01 - $5.00 2,731,944 $ 3.05 3.96 $5.01 - $8.93 1,380,000 $ 6.99 5.25 7,247,165 $ 2.87 5.16 Ampio has computed the fair value of all options granted using the Black-Scholes option pricing model. To calculate the fair value of the options, certain assumptions are made regarding components of the model, including the estimated fair value of the underlying common stock, risk-free interest rate, volatility, expected dividend yield and expected option life. Changes to the assumptions could cause significant adjustments to valuation. Ampio calculates its volatility assumption using the actual changes in the market value of its stock. Ampio adopted ASU 2016-09 in 2017 and no longer estimates a forfeiture rate (see Note 2). Instead, forfeitures are recognized as they occur. Ampio estimates the expected term based on the average of the vesting term and the contractual term of the options. The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of the grant for treasury securities of similar maturity. Years Ended December 31, 2017 2016 2015 Expected volatility 34% - 113% 115% - 116% 104% - 113% Risk free interest rate 1.16% - 2.13% 0.61% - 1.20% 0.05% - 1.64% Expected term (years) 0.5 - 6.5 1.0 - 5.5 1.5 - 6.25 Dividend yield 0.00% 0.00% 0.00% Stock-based compensation expense related to the fair value of stock options was included in the statements of operations as research and development expenses and general and administrative expenses as set forth in the table below. Ampio determined the fair value as of the date of grant using the Black-Scholes option pricing model and expenses the fair value ratably over the vesting period. The following table summarizes stock-based compensation for the years ended 2017, 2016 and 2015: Years Ended December 31, 2017 2016 2015 Research and development expenses Stock-based compensation $ 298,000 $ 371,000 $ 2,092,000 General and administrative expenses Common stock issued for services 60,000 60,000 30,000 Stock-based compensation 447,000 1,145,000 2,866,000 $ 805,000 $ 1,576,000 $ 4,988,000 Unrecognized expense at December 31, 2017 $ 253,000 Weighted average remaining years to vest 1.38 Warrants In connection with the June 2017 registered direct offering, Ampio issued to investors warrants to purchase an aggregate of approximately 11.0 0.76 27,963,000 Assumptions for warrants issued June 2, 2017: December 31, 2017 At Issuance Exercise Price $ 0.76 $ 0.76 Expected volatility 102.4 % 94.6 % Risk free interest rate 2.14 % 1.71 % Expected term (years) 4.4 5.0 Dividend yield 0.0 % 0.0 % Number of Shares 7,605,581 10,990,245 In connection with Ampio’s 2016 registered direct offering, Ampio issued to an investor warrants to purchase an aggregate of 5.0 1.00 17,113,000 Assumptions for warrants issued September 1, 2016: December 31, 2017 At Issuance Exercise Price $ 0.40 $ 1.00 Expected volatility 106.1 % 96.0 % Risk free interest rate 2.05 % 1.18 % Expected term (years) 3.7 5.0 Dividend yield 0.0 % 0.0 % Number of Shares 4,500,000 5,000,000 The combined value for the warrant liability at December 31, 2017 is $ 45,076,000 879,000 0.76 Expected volatility 94.6 % Risk free interest rate 1.71 % Expected term (years) 5.0 Dividend yield 0.0 % In the 2016 registered direct offering, Ampio issued to the placement agent warrants to purchase an aggregate of 150,000 0.9375 Expected volatility 96.0 % Risk free interest rate 1.18 % Expected term (years) 5.0 Dividend yield 0.0 % In fiscal 2017 and 2016, Ampio issued warrants in a registered direct placement. Number of Weighted Weighted Average Outstanding December 31, 2014 516,329 $ 3.26 1.44 Warrants exercised (17,253) $ 3.94 Outstanding December 31, 2015 499,076 $ 3.24 1.19 Warrants issued in connection with registered direct offering 5,150,000 $ 1.00 4.67 Expired (500) $ 3.13 Outstanding December 31, 2016 5,648,576 $ 1.20 4.28 Warrants issued in connection with registered direct offering 11,869,464 $ 0.76 4.42 Warrants exercised (4,185,797) $ 0.72 Outstanding December 31, 2017 13,332,243 $ 0.73 4.01 In December 2017, the Company issued 3,384,664 0.76 500,000 0.40 2.8 In December 2017, 301,133 167,205 In March 2017, the Company modified 498,576 75,000 In March 2017, the Company modified the five million warrants issued in conjunction with the Company’s September 2016 registered direct offering with an original strike price of $ 1.00 0.40 1.1 In March 2016, the Company modified select outstanding warrants which extended the expiration for an additional year from March 31, 2016 to March 31, 2017. The $ 37,000 In November 2015, the Company modified select outstanding warrants which extended the expiration for an additional year from March 31, 2016 to March 31, 2017. The $ 422,000 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 10 Related Party Transactions Ampio Loan Agreements In 2013, Vyrix Pharmaceuticals, Inc. (“Vyrix”), a former subsidiary of Ampio, entered into a loan agreement with Ampio. Pursuant to the loan agreement, Ampio agreed to lend Vyrix up to an aggregate amount of $ 3,000,000 500,000 2,700,000 2.71 3.32 4,000,000 In March 2014, Luoxis Diagnostics, Inc. (“Luoxis”), a former subsidiary of Ampio entered into a loan agreement with Ampio. Pursuant to the loan agreement, Ampio agreed to lend Luoxis $ 3,000,000 3,000,000 2.71 3.32 8,000,000 On April 16, 2015, Ampio received 396,816 (i) issuance to Aytu of a promissory note from Ampio in the principal amount of $10.0 million, maturing on the first anniversary of the Merger, (ii) cancellation of indebtedness of Luoxis to Ampio in the amount of $8.0 million; and (iii) cancellation of indebtedness of Vyrix to Ampio in the amount of $4.0 million. During fiscal 2015, Ampio paid the full $ 10.0 Sponsored Research Agreement Ampio entered into a sponsored research agreement with Trauma Research LLC, an entity controlled by Ampio’s Director and Chief Scientific Officer, Dr. Bar-Or, in September 2009, which was amended seven times with the last amendment occurring in June 2017. Under the amended terms, the agreement was terminated effective July 5, 2017. The remaining prepaid of $ 252,000 Employee Advances The Company had advances to one executive and three employees that were used to purchase stock in the Company when it was formed during 2010. These advances were non-interest bearing and due on demand and are classified as a reduction to stockholders’ equity. As of December 31, 2016, the remaining outstanding balance was $ 25,000 Service Agreement In July 2015, Ampio entered into an agreement with Aytu whereby Aytu agreed to pay Ampio $ 30,000 18,000 17,000 12,000 77,000 234,000 307,000 |
Litigation
Litigation | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Litigation | Note 11 Litigation From time to time, the Company is party to litigation arising in the ordinary course of its business. As of December 31, 2017, the Company is not currently a party to any significant litigation. |
Employee Benefit Plan
Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2017 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plan | Note 12 Employee Benefit Plan Ampio has a 401(k) plan that allows participants to contribute a portion of their salary, subject to eligibility requirements and annual IRS limits. Ampio does not match employee contributions. |
Selected Quarterly Data (unaudi
Selected Quarterly Data (unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Data | Note 13 Selected Quarterly Data (unaudited) Quarters Ended March 31, June 30, September 30, December 31, 2017 Operating expenses Research and development 1,640,337 3,349,742 1,992,825 3,437,829 Selling, general and administrative 1,362,668 1,340,528 1,073,458 1,367,570 Total operating expenses 3,003,005 4,690,270 3,066,283 4,805,399 Other income 3,033 54 - - Derivative gain (expense) 1,126,473 2,113,293 (1,146,772) (38,311,826) Unrealized loss on trading security (30,711) (31,630) (39,854) (9,048) Total other income (expense) 1,098,795 2,081,717 (1,186,626) (38,320,874) Net loss (1,904,210) (2,608,553) (4,252,909) (43,126,273) Basic and diluted Ampio net loss per common share (0.03) (0.04) (0.06) (0.58) Weighted average number of Ampio common shares outstanding 57,240,081 60,623,778 68,232,409 74,867,167 Quarters Ended March 31, June 30, September 30, December 31, 2016 Operating expenses Research and development 4,311,527 2,804,948 1,788,224 1,641,588 Selling, general and administrative 2,110,896 1,563,013 1,555,527 1,306,631 Total operating expenses 6,422,423 4,367,961 3,343,751 2,948,219 Other income 10,154 6,555 3,080 3,690 Derivative expense - - (715,732) (199,409) Unrealized gain (loss) on trading security - - 64,274 (210,534) Loss from equity investment in Aytu BioScience (352,520) (690,834) - - Total other expense (342,366) (684,279) (648,378) (406,253) Net loss (6,764,789) (5,052,240) (3,992,129) (3,354,472) Basic and diluted Ampio net loss per common share (0.13) (0.10) (0.07) (0.06) Weighted average number of Ampio common shares outstanding 52,016,034 52,016,432 53,842,234 57,179,686 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 14 Subsequent Events In the first quarter of 2018, a total of 249,666 1.61 400,800 In December 2017, the Company received $ 135,000 0.76 176,999 In the first quarter of 2018, the Company issued 845,000 0.76 2,442,200 |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents | Cash and Cash Equivalents Ampio considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of money market fund investments. Ampio’s investment policy is to preserve principal and maintain liquidity. Ampio periodically monitors its positions with, and the credit quality of, the financial institutions with which it invests. During the year and as of December 31, 2017, Ampio has maintained balances in excess of federally insured limits. |
Trading Securities | Trading Securities Trading securities are held at fair value based on quoted prices on the national exchanges as of the balance sheet date. The fluctuations in the value of the trading securities for unrealized gains and losses are recorded in the statement of operations in the period that they occur. |
Fixed Assets | Fixed Assets Fixed assets are recorded at cost and once placed in service, are depreciated using the straight-line method over their estimated useful lives. Leasehold improvements are accreted over the shorter of the estimated economic life or related lease terms. Estimated December 31, Useful Lives in Years 2017 2016 Manufacturing facility/clean room 8 $ 2,773,000 $ 2,734,000 Leasehold improvements 10 6,075,000 6,075,000 Office furniture and equipment 3 -10 557,000 557,000 Lab equipment 5 -10 1,059,000 1,026,000 Less accumulated depreciation and amortization (3,626,000) (2,412,000) Fixed assets, net $ 6,838,000 $ 7,980,000 Years Ended December 31, 2017 2016 2015 Depreciation and Amortization Expense $ 1,214,000 $ 1,214,000 $ 825,000 |
Accrued Compensation | Accrued Compensation Accrued compensation consists of earned paid time off (PTO) and the employee bonus accrual. Bonuses for the executive officers are contingent upon the Company filing the Ampion BLA with the FDA and raising additional capital to meet the Company’s operating needs. The bonus accrual is also based on achievements of the executive officers and the Company’s performance during fiscal 2017. The Compensation Committee evaluates the executive officers performance and gives final approval of bonuses. As of the filing date of this report, a majority of the bonus accrual had not been paid out. |
Use of Estimates | Use of Estimates The preparation of financial statements in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant items subject to such estimates and assumptions include the fair value of warrant derivative liability, stock-based compensation, useful lives of fixed assets, impairment of fixed assets, bonus accrual, valuation allowance and going concern. Actual results could differ from these estimates. |
Derivatives | Derivatives In connection with the June 2017 registered direct offering, Ampio issued to investors warrants to purchase an aggregate of approximately 11.0 0.76 See Note 5 and 9 for more details In the 2016 registered direct offering, Ampio issued to an investor warrants to purchase an aggregate of 5.0 1.00 1.00 0.40 See Note 5 and 9 for more details |
Income Taxes | Income Taxes Deferred taxes are recorded using the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Net Loss per Common Share | Net Loss per Common Share Basic net loss per share includes no dilution and is computed by dividing the net loss available to common stockholders by the weighted-average number of shares outstanding during the period. Diluted net loss per share reflects the potential of securities that could share in the net loss of Ampio. Basic and diluted loss per share was the same in 2017, 2016 and 2015. There were common stock equivalents of 20,579,408 12,824,408 7,814,908 |
Stock-Based Compensation | Stock-Based Compensation Ampio accounts for share based payments by recognizing compensation expense based upon the estimated fair value of the awards on the date of grant. Ampio determines the estimated grant fair value using the Black-Scholes option pricing model and recognizes compensation costs ratably over the requisite service period, which approximates the vesting period using the graded method. |
Research and Development | Research and Development Research and development costs are expensed as incurred with expense recorded in the respective periods. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, trading security in Aytu, accounts payable and accrued expenses, and warrant derivative liability. The carrying amounts of financial instruments, including cash and cash equivalents, accounts payable and accrued expenses are carried at cost which approximates fair value due to the short maturity of these instruments. The fair value of trading securities is based on quoted market prices. Warrants were recorded at estimated fair value based on a Black-Scholes warrant pricing model. See Note 5 for more details. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Ampio routinely performs an annual evaluation of the recoverability of the carrying value of its long-lived assets to determine if facts and circumstances indicate that the carrying value of assets or intangible assets may be impaired and if any adjustment is warranted. Based on Ampio’s evaluation as of December 31, 2017 and 2016, no impairment existed for long-lived assets. |
Recent Accounting Pronouncements and Adoption of Recent Accounting Pronouncements | Adoption of Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “Compensation -Stock Compensation (Topic 718): Improvements to Employee Share Based Payment Accounting” 18,000 Recent Accounting Pronouncements In July 2017, the FASB issued ASU 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception”. In May 2017, the FASB issued ASU 2017-09, “Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting”. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” |
Summary of Significant Accoun23
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Property, Plant and Equipment | Fixed assets consist of the following: Estimated December 31, Useful Lives in Years 2017 2016 Manufacturing facility/clean room 8 $ 2,773,000 $ 2,734,000 Leasehold improvements 10 6,075,000 6,075,000 Office furniture and equipment 3 -10 557,000 557,000 Lab equipment 5 -10 1,059,000 1,026,000 Less accumulated depreciation and amortization (3,626,000) (2,412,000) Fixed assets, net $ 6,838,000 $ 7,980,000 |
Schedule Of Research And Development Expenses | The Company recorded depreciation and amortization expense in the respective periods as follows: Years Ended December 31, 2017 2016 2015 Depreciation and Amortization Expense $ 1,214,000 $ 1,214,000 $ 825,000 |
Fair Value Considerations (Tabl
Fair Value Considerations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents Ampio’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2017 and 2016, by level within the fair value hierarchy: Fair Value Measurements Using Level 1 Level 2 Level 3 Total December 31, 2017 ASSETS Trading security Aytu (Note 4) $ 12,000 $ - $ - $ 12,000 LIABILITIES Warrant derivative liability $ - $ - $ 45,076,000 $ 45,076,000 December 31, 2016 ASSETS Trading security Aytu (Note 4) $ 123,000 $ - $ - $ 123,000 LIABILITIES Warrant derivative liability $ - $ - $ 4,239,000 $ 4,239,000 |
Marketable Securities | Ampio’s ownership shares in Aytu of 5,111 multiplied by Aytu’s closing stock price on December 31, 2017 and December 31, 2016, which is classified as Level 1 (quoted price is available). Unrealized Fair Value at Maturity in Years Value at December 31, Gains Losses December 31, Trading security Aytu (Note 4) Less than 1 year $ 123,000 $ - $ (111,000) $ 12,000 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table sets forth a reconciliation of changes in the fair value of financial liabilities classified as Level 3 in the fair valued hierarchy: Derivative Instruments Balance as of December 31, 2016 $ 4,239,000 Warrant issuances 4,618,000 Warrant exercises (9,753,000) Change in fair value 45,972,000 Balance as of December 31, 2017 $ 45,076,000 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation | The following table reflects the reconciliation for the respective periods: Years Ended December 31, 2017 2016 2015 Benefit at federal statutory rate (34.0) % (34.0) % (34.0) % State, net of federal income tax impact (0.9) % (2.9) % (3.0) % Change in federal tax rate 35.8 % 0.0 % 0.0 % Stock-based compensation 0.0 % 0.4 % 1.2 % Registered offering loss / warrant expense 23.7 % 1.5 % 0.0 % Aytu change from subsidiary to investee 0.0 % (3.5) % 0.0 % Change in valuation allowance (24.6) % 38.5 % 35.8 % Effective tax rate 0.0 % 0.0 % 0.0 % |
Schedule of Deferred Tax Assets and Liabilities | The approximate tax effects of significant temporary differences which comprise the deferred tax assets and liabilities are as follows for the respective periods: Years Ended December 31, 2017 2016 2015 Long-term deferred income tax assets (liabilities): Accrued liabilities $ 247,000 $ 506,000 $ 328,000 Deferred rent 147,000 240,000 255,000 Net operating loss carryforward 32,766,000 41,478,000 35,487,000 Share-based compensation 3,192,000 4,661,000 4,182,000 Unrealized loss on trading security 771,000 1,118,000 - Property and equipment (236,000) (233,000) (180,000) Warrants 82,000 33,000 - Less: Valuation allowance (36,969,000) (47,803,000) (40,072,000) Total long-term deferred income tax assets (liabilities) $ - $ - $ - |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Commitments and Contingencies | The following table summarizes the commitments and contingencies as of December 31, 2017 which are described below: Total 2018 2019 2020 2021 2022 Thereafter Ampion supply agreement $ 7,650,000 $ 2,550,000 $ 2,550,000 $ 2,550,000 $ - $ - $ - Clinical research and trial obligations 3,049,000 3,049,000 - - - - - Facility lease 2,321,000 316,000 326,000 335,000 345,000 355,000 644,000 $ 13,020,000 $ 5,915,000 $ 2,876,000 $ 2,885,000 $ 345,000 $ 355,000 $ 644,000 |
Rent Expense | Rent expense for the respective periods is as follows: Years Ended December 31, 2017 2016 2015 Rent expense $ 260,000 $ 259,000 $ 255,000 |
Common Stock (Tables)
Common Stock (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Schedule of Sale of Stock by Subsidiary or Equity Method Investee Disclosure | The following table summarizes Ampio’s total sales under the Agreement for the period indicated: Years Ended December 31, 2017 2016 Total shares of common stock sold - 163,254 Average price per share $ - $ 0.94 Gross proceeds $ - $ 153,000 Commissions earned by placement agent $ - $ 5,000 Other expenses $ - $ 98,000 |
Equity Instruments (Tables)
Equity Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Stock Option Activity | Stock option activity is as follows: Number of Options Weighted Average Weighted Average Aggregate Intrinsic Outstanding December 31, 2014 6,568,248 $ 3.82 7.66 Granted 1,093,000 $ 3.28 Exercised (10,416) $ 2.76 Forfeited (275,000) $ 4.80 Expired or Cancelled (60,000) $ 3.53 Outstanding December 31, 2015 7,315,832 $ 3.71 6.58 Granted 350,000 $ 1.11 Exercised - $ - Forfeited - $ - Expired or Cancelled (490,000) $ 2.79 Outstanding December 31, 2016 7,175,832 $ 3.64 4.99 Granted 1,581,334 $ 0.66 Exercised (66,667) $ 0.51 Forfeited (1,443,334) $ 4.01 Expired or Cancelled - $ - Outstanding December 31, 2017 7,247,165 $ 2.87 5.16 12,739,512 Exercisable at December 31, 2017 6,330,497 $ 3.17 4.57 9,728,318 Available for grant at December 31, 2017 2,911,169 |
Summary of Stock Options Outstanding and Exercisable | Stock options outstanding at December 31, 2017 are summarized in the table below: Range of Exercise Prices Number of Weighted Weighted Average $0.48 - $2.00 3,135,221 $ 0.91 6.17 $2.01 - $5.00 2,731,944 $ 3.05 3.96 $5.01 - $8.93 1,380,000 $ 6.99 5.25 7,247,165 $ 2.87 5.16 |
Summary of Stock-Based Compensation Expense | Years Ended December 31, 2017 2016 2015 Research and development expenses Stock-based compensation $ 298,000 $ 371,000 $ 2,092,000 General and administrative expenses Common stock issued for services 60,000 60,000 30,000 Stock-based compensation 447,000 1,145,000 2,866,000 $ 805,000 $ 1,576,000 $ 4,988,000 Unrecognized expense at December 31, 2017 $ 253,000 Weighted average remaining years to vest 1.38 |
Warrants Issued in Conjunction with its Senior Convertible Debentures | A summary of all Ampio warrants is as follows: Number of Weighted Weighted Average Outstanding December 31, 2014 516,329 $ 3.26 1.44 Warrants exercised (17,253) $ 3.94 Outstanding December 31, 2015 499,076 $ 3.24 1.19 Warrants issued in connection with registered direct offering 5,150,000 $ 1.00 4.67 Expired (500) $ 3.13 Outstanding December 31, 2016 5,648,576 $ 1.20 4.28 Warrants issued in connection with registered direct offering 11,869,464 $ 0.76 4.42 Warrants exercised (4,185,797) $ 0.72 Outstanding December 31, 2017 13,332,243 $ 0.73 4.01 |
Warrant [Member] | |
Assumptions Used in Computing Fair Value of All Options Granted | During the 2017 registered direct offering, Ampio issued placement agent warrants to purchase an aggregate of approximately 879,000 0.76 Expected volatility 94.6 % Risk free interest rate 1.71 % Expected term (years) 5.0 Dividend yield 0.0 % In the 2016 registered direct offering, Ampio issued to the placement agent warrants to purchase an aggregate of 150,000 0.9375 Expected volatility 96.0 % Risk free interest rate 1.18 % Expected term (years) 5.0 Dividend yield 0.0 % |
Warrant One [Member] | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | Assumptions for warrants issued June 2, 2017: December 31, 2017 At Issuance Exercise Price $ 0.76 $ 0.76 Expected volatility 102.4 % 94.6 % Risk free interest rate 2.14 % 1.71 % Expected term (years) 4.4 5.0 Dividend yield 0.0 % 0.0 % Number of Shares 7,605,581 10,990,245 |
Warrant Two [Member] | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | Assumptions for warrants issued September 1, 2016: December 31, 2017 At Issuance Exercise Price $ 0.40 $ 1.00 Expected volatility 106.1 % 96.0 % Risk free interest rate 2.05 % 1.18 % Expected term (years) 3.7 5.0 Dividend yield 0.0 % 0.0 % Number of Shares 4,500,000 5,000,000 |
Ampio [Member] | |
Assumptions Used in Computing Fair Value of All Options Granted | Accordingly, Ampio has computed the fair value of all options granted during the respective years, using the following assumptions: Years Ended December 31, 2017 2016 2015 Expected volatility 34% - 113% 115% - 116% 104% - 113% Risk free interest rate 1.16% - 2.13% 0.61% - 1.20% 0.05% - 1.64% Expected term (years) 0.5 - 6.5 1.0 - 5.5 1.5 - 6.25 Dividend yield 0.00% 0.00% 0.00% |
Selected Quarterly Data (unau29
Selected Quarterly Data (unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | Quarterly results were as follows: Quarters Ended March 31, June 30, September 30, December 31, 2017 Operating expenses Research and development 1,640,337 3,349,742 1,992,825 3,437,829 Selling, general and administrative 1,362,668 1,340,528 1,073,458 1,367,570 Total operating expenses 3,003,005 4,690,270 3,066,283 4,805,399 Other income 3,033 54 - - Derivative gain (expense) 1,126,473 2,113,293 (1,146,772) (38,311,826) Unrealized loss on trading security (30,711) (31,630) (39,854) (9,048) Total other income (expense) 1,098,795 2,081,717 (1,186,626) (38,320,874) Net loss (1,904,210) (2,608,553) (4,252,909) (43,126,273) Basic and diluted Ampio net loss per common share (0.03) (0.04) (0.06) (0.58) Weighted average number of Ampio common shares outstanding 57,240,081 60,623,778 68,232,409 74,867,167 Quarters Ended March 31, June 30, September 30, December 31, 2016 Operating expenses Research and development 4,311,527 2,804,948 1,788,224 1,641,588 Selling, general and administrative 2,110,896 1,563,013 1,555,527 1,306,631 Total operating expenses 6,422,423 4,367,961 3,343,751 2,948,219 Other income 10,154 6,555 3,080 3,690 Derivative expense - - (715,732) (199,409) Unrealized gain (loss) on trading security - - 64,274 (210,534) Loss from equity investment in Aytu BioScience (352,520) (690,834) - - Total other expense (342,366) (684,279) (648,378) (406,253) Net loss (6,764,789) (5,052,240) (3,992,129) (3,354,472) Basic and diluted Ampio net loss per common share (0.13) (0.10) (0.07) (0.06) Weighted average number of Ampio common shares outstanding 52,016,034 52,016,432 53,842,234 57,179,686 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) | Dec. 31, 2017 | Jan. 04, 2016 |
Basis of Presentation and Business [Line Items] | ||
Non controlling interest, ownership percentage by parent | 81.50% | |
Ownership percentage by parent | 1.00% | 8.60% |
Summary of Significant Accoun31
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2017 | Mar. 27, 2017 | |
Significant Accounting Policies [Line Items] | ||||||||
Stock Issued During Period, Shares, New Issues | 11,000,000 | 5,000,000 | 11,000,000 | 5,000,000 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.76 | $ 1 | $ 0.76 | $ 0.76 | $ 1 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 20,579,408 | 12,824,408 | 7,814,908 | |||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 18,000 | |||||||
Maximum [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | $ 1 | ||||||
Minimum [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.40 | $ 0.40 |
Summary of Significant Accoun32
Summary of Significant Accounting Policies - Schedule of Fixed Assets (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | ||
Less accumulated depreciation and amortization | $ (3,626,000) | $ (2,412,000) |
Fixed assets, net | $ 6,837,861 | 7,980,011 |
Manufacturing facility/clean room [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 8 years | |
Fixed assets, gross | $ 2,773,000 | 2,734,000 |
Leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 10 years | |
Fixed assets, gross | $ 6,075,000 | 6,075,000 |
Office furniture and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, gross | $ 557,000 | 557,000 |
Office furniture and equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 3 years | |
Office furniture and equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 10 years | |
Lab equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, gross | $ 1,059,000 | $ 1,026,000 |
Lab equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 5 years | |
Lab equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 10 years |
Summary of Significant Accoun33
Summary of Significant Accounting Policies - Depreciation Expenses (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation, Depletion and Amortization | $ 1,214,000 | $ 1,214,000 | $ 825,000 |
Going Concern - Additional Info
Going Concern - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2017 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ (43,126,273) | $ (4,252,909) | $ (2,608,553) | $ (1,904,210) | $ (3,354,472) | $ (3,992,129) | $ (5,052,240) | $ (6,764,789) | $ (51,891,945) | $ (19,163,629) | $ (33,713,917) | |
Net Cash Provided by (Used in) Operating Activities | (11,407,947) | (14,624,972) | (26,444,110) | |||||||||
Cash and Cash Equivalents, at Carrying Value | 8,209,071 | 4,894,834 | 8,209,071 | 4,894,834 | 26,957,938 | |||||||
Stockholders' Equity Attributable to Parent | 34,200,000 | 34,200,000 | ||||||||||
Retained Earnings (Accumulated Deficit) | $ (204,988,674) | $ (153,078,441) | (204,988,674) | (153,078,441) | ||||||||
Proceeds from Issuance of Common Stock | $ 6,300,000 | 13,339,873 | $ 3,750,000 | 0 | ||||||||
Stock Issued During Period, Value, Stock Options Exercised | 34,001 | $ 28,749 | ||||||||||
Warrant [Member] | ||||||||||||
Stock Issued During Period, Value, Stock Options Exercised | $ 2,800,000 |
Trading Security Aytu BioScie35
Trading Security Aytu BioScience, Inc.- Additional Information (Detail) | Dec. 31, 2017 | Jan. 04, 2016 |
Investment Disclosure [Line Items] | ||
Noncontrolling Interest, Ownership Percentage by Parent | 81.50% | |
Equity Method Investment, Ownership Percentage | 1.00% | 8.60% |
Aytu [Member] | ||
Investment Disclosure [Line Items] | ||
Noncontrolling Interest, Ownership Percentage by Parent | 81.50% | |
Equity Method Investment, Ownership Percentage | 8.60% |
Fair Value Considerations - Add
Fair Value Considerations - Additional Information (Detail) - shares | 1 Months Ended | ||
Aug. 25, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Number Of Ownership Shares In Trading Security | 5,111 | 5,111 | |
Stockholders' Equity Note, Stock Split | 1-for-20 |
Fair Value Considerations - Fin
Fair Value Considerations - Financial Assets and Liabilities (Detail) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Trading security Aytu (Note 4) | $ 12,000 | $ 123,000 |
LIABILITIES | ||
Warrant derivative liability | 45,075,755 | 4,238,606 |
Fair Value, Inputs, Level 1 [Member] | ||
ASSETS | ||
Trading security Aytu (Note 4) | 12,000 | 123,000 |
LIABILITIES | ||
Warrant derivative liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
ASSETS | ||
Trading security Aytu (Note 4) | 0 | 0 |
LIABILITIES | ||
Warrant derivative liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
ASSETS | ||
Trading security Aytu (Note 4) | 0 | 0 |
LIABILITIES | ||
Warrant derivative liability | $ 45,076,000 | $ 4,239,000 |
Fair Value Considerations - Ayt
Fair Value Considerations - Aytu’s Closing Stock Price (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Investment in Aytu BioScience, Fair Value | $ 11,398 | $ 122,641 |
Aytu Bio Science Inc [Member] | ||
Investment in Aytu BioScience, Fair Value | 12,000 | $ 123,000 |
Investment in Aytu BioScience, Unrealized Gains | 0 | |
Investment in Aytu BioScience, Unrealized Losses | $ (111,000) |
Fair Value Considerations - Set
Fair Value Considerations - Sets Forth a Reconciliation of Changes (Detail) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Balance as of December 31, 2016 | $ 4,239,000 |
Warrant issuances | 4,618,000 |
Warrant exercises | (9,753,000) |
Change in fair value | 45,972,000 |
Balance as of December 31, 2017 | $ 45,076,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Line Items] | |||||
Operating Loss Carryforwards | $ 132.8 | $ 132.8 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | 34.00% | ||
Income Tax Expense (Benefit) | $ 0 | $ 0 | $ 0 | ||
Deferred Tax Assets, Net | 18.6 | 18.6 | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 18.6 | ||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 18.6 | ||||
Scenario, Plan [Member] | |||||
Income Taxes [Line Items] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||
Minimum [Member] | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforward Expiration | 2,019 | ||||
Percentage Of Likelihood Of Tax Benefit Being Realized | 50.00% | ||||
Maximum [Member] | |||||
Income Taxes [Line Items] | |||||
Operating Loss Carryforward Expiration | 2,037 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Benefit at federal statutory rate | (34.00%) | (34.00%) | (34.00%) |
State, net of federal income tax impact | (0.90%) | (2.90%) | (3.00%) |
Change in federal tax rate | 35.80% | 0.00% | 0.00% |
Stock-based compensation | 0.00% | 0.40% | 1.20% |
Registered offering loss / warrant expense | 23.70% | 1.50% | 0.00% |
Aytu change from subsidiary to investee | 0.00% | (3.50%) | 0.00% |
Change in valuation allowance | (24.60%) | 38.50% | 35.80% |
Effective tax rate | 0.00% | 0.00% | 0.00% |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Long-term deferred income tax assets (liabilities): | |||
Accrued liabilities | $ 247,000 | $ 506,000 | $ 328,000 |
Deferred rent | 147,000 | 240,000 | 255,000 |
Net operating loss carryforward | 32,766,000 | 41,478,000 | 35,487,000 |
Share-based compensation | 3,192,000 | 4,661,000 | 4,182,000 |
Unrealized loss on trading security | 771,000 | 1,118,000 | 0 |
Property and equipment | (236,000) | (233,000) | (180,000) |
Warrants | 82,000 | 33,000 | 0 |
Less: Valuation allowance | (36,969,000) | (47,803,000) | (40,072,000) |
Total long-term deferred income tax assets (liabilities) | $ 0 | $ 0 | $ 0 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Dec. 13, 2013 | Dec. 31, 2017 | Oct. 31, 2013 |
Commitments and Contingencies [Line Items] | |||
Contractual obligation | $ 13,020,000 | ||
Newly Leased Office Space and Manufacturing Facility [Member] | |||
Commitments and Contingencies [Line Items] | |||
Non-cancellable operating lease period | 125 months | ||
Non-cancellable operating lease effective date | May 1, 2014 | ||
Lease initial base rent per month | $ 23,000 | ||
Total base rent over the term of the lease | 3,300,000 | ||
Ampion Study Production [Member] | |||
Commitments and Contingencies [Line Items] | |||
Contractual obligation | $ 7,700,000 | ||
Other Commitment | $ 3,000,000 |
Commitments and Contingencies44
Commitments and Contingencies - Summary of Commitments and Contingencies (Detail) | Dec. 31, 2017USD ($) |
Commitment And Contingencies [Line Items] | |
Total | $ 13,020,000 |
2,018 | 5,915,000 |
2,019 | 2,876,000 |
2,020 | 2,885,000 |
2,021 | 345,000 |
2,022 | 355,000 |
Thereafter | 644,000 |
Ampion Supply Agreement [Member] | |
Commitment And Contingencies [Line Items] | |
Total | 7,650,000 |
2,018 | 2,550,000 |
2,019 | 2,550,000 |
2,020 | 2,550,000 |
2,021 | 0 |
2,022 | 0 |
Thereafter | 0 |
Clinical Research and Trial Obligations [Member] | |
Commitment And Contingencies [Line Items] | |
Total | 3,049,000 |
2,018 | 3,049,000 |
2,019 | 0 |
2,020 | 0 |
2,021 | 0 |
2,022 | 0 |
Thereafter | 0 |
Facility Lease [Member] | |
Commitment And Contingencies [Line Items] | |
Total | 2,321,000 |
2,018 | 316,000 |
2,019 | 326,000 |
2,020 | 335,000 |
2,021 | 345,000 |
2,022 | 355,000 |
Thereafter | $ 644,000 |
Commitments and Contingencies45
Commitments and Contingencies - Rent Expense (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Commitment And Contingencies [Line Items] | |||
Rent expense | $ 260,000 | $ 259,000 | $ 255,000 |
Common Stock - Additional Infor
Common Stock - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||
Oct. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2016 | Mar. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 27, 2017 | Feb. 29, 2016 | |
Components Of Common Stock [Line Items] | |||||||||||
Common Stock, shares outstanding | 80,060,345 | 57,179,686 | |||||||||
Common Stock, shares authorized | 200,000,000 | 100,000,000 | |||||||||
Common Stock, par value | $ 0.0001 | $ 0.0001 | |||||||||
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 | |||||||||
Preferred Stock, par value | $ 0.0001 | $ 0.0001 | |||||||||
Remaining common stocks and warrants under shelf registration | $ 78,300,000 | ||||||||||
Maximum aggregate offering price of equity securities | $ 25,000,000 | ||||||||||
Stock Issued During Period, Shares, New Issues | 11,000,000 | 5,000,000 | 11,000,000 | 5,000,000 | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 11,000,000 | 5,000,000 | 11,000,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.76 | $ 1 | $ 0.76 | $ 0.76 | $ 1 | ||||||
Proceeds from Issuance of Warrants | $ 3,750,000 | $ 6,600,000 | |||||||||
Combined Purchase Price, Per Share And Warrant | $ 0.75 | $ 0.60 | |||||||||
Stock Issued During Period, Value, New Issues | $ 7,000,382 | $ 0 | |||||||||
Issuance Of Warrants Value | $ 4,100,000 | 4,600,000 | |||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax | (36,218,832) | (915,141) | $ 0 | ||||||||
Sale Or Exchange Of Securities Expiration Date | Jun. 2, 2019 | Sep. 1, 2017 | |||||||||
Payments of Stock Issuance Costs | $ 1,351,708 | $ 338,005 | $ 0 | ||||||||
Participation Rights Percentage | 35.00% | 30.00% | 35.00% | ||||||||
Maximum [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | $ 1 | |||||||||
Minimum [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.40 | $ 0.40 | |||||||||
Common Stock [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Stock Issued During Period, Shares, New Issues | 18,699,645 | 5,000,000 | |||||||||
Stock Issued During Period, Value, New Issues | $ 1,870 | $ 500 | |||||||||
Non Employee Directors [Member] | Common Stock [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Issuance of common stock for services, shares | 62,478 | 18,126 | 7,998 | ||||||||
Issuance of common stock for services | $ 60,000 | $ 60,000 | $ 30,000 | ||||||||
Shelf Registration [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Common stock and warrants | $ 100,000,000 | $ 100,000,000 | |||||||||
Common stock to be sold by directors and management in future public offerings | 5,000,000 | ||||||||||
Registered Direct Placement [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Proceeds from Issuance of Warrants | $ 3,400,000 | ||||||||||
Share Based Compensation, Warrants Issued | 150,000 | ||||||||||
Stock Issued During Period, Value, New Issues | $ 5,000,000 | ||||||||||
Non Cash Charges | 4,200,000 | ||||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax | $ 1,100,000 | $ 804,000 | |||||||||
Placement Agent [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Percentage of commission | 6.00% | 8.00% | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.9375 | $ 0.76 | $ 0.9375 | ||||||||
Share Based Compensation, Warrants Issued | 150,000 | 879,000 | 150,000 | ||||||||
Commission Of Gross Offering Proceeds | $ 225,000 | $ 533,000 | |||||||||
Payment of Financing and Stock Issuance Costs | 113,000 | 292,000 | |||||||||
Warrants and Rights Outstanding | $ 89,000 | $ 369,000 | |||||||||
Registered Direct Offering [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Stock Issued During Period, Shares, New Issues | 7,700,000 | ||||||||||
Proceeds from Issuance of Warrants | $ 6,700,000 | ||||||||||
Combined Purchase Price, Per Share And Warrant | $ 0.875 | ||||||||||
Share Based Compensation, Warrants Issued | 11,869,464 | 5,150,000 | |||||||||
Payments of Stock Issuance Costs | $ 490,000 | ||||||||||
Agreement [Member] | |||||||||||
Components Of Common Stock [Line Items] | |||||||||||
Percentage of commission | 3.00% |
Common Stock - Sales (Detail)
Common Stock - Sales (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Components Of Common Stock [Line Items] | ||
Total shares of common stock sold | 0 | 163,254 |
Average price per share | $ 0 | $ 0.94 |
Gross proceeds | $ 0 | $ 153,000 |
Commissions earned by placement agent | 0 | 5,000 |
Other expenses | $ 0 | $ 98,000 |
Equity Instruments - Additional
Equity Instruments - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Oct. 31, 2017 | Jun. 30, 2017 | Sep. 30, 2016 | Mar. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 27, 2017 | Dec. 31, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of option, Granted | 1,581,334 | 350,000 | 1,093,000 | |||||||
Stock options exercise price | $ 0.66 | $ 1.11 | $ 3.28 | |||||||
Stock Issued During Period, Shares, New Issues | 11,000,000 | 5,000,000 | 11,000,000 | 5,000,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.76 | $ 1 | $ 0.76 | $ 0.76 | $ 1 | |||||
Fair Value Adjustment of Warrants | $ 17,113,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 1,443,334 | 490,000 | 470,000 | |||||||
Class of Warrant or Right, Outstanding | 176,999 | |||||||||
Derivative Liability, Noncurrent | $ 45,075,755 | $ 4,238,606 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 66,667 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.51 | |||||||||
Proceeds from Issuance of Common Stock | $ 6,300,000 | $ 13,339,873 | $ 3,750,000 | $ 0 | ||||||
Common Stock, Shares, Issued | 80,060,345 | 57,179,686 | ||||||||
Common Stock One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 3,384,664 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.76 | |||||||||
Common Stock Two [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 500,000 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.40 | |||||||||
Warrant One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Class of Warrant or Right, Outstanding | 498,576 | |||||||||
Minimum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | 0.40 | $ 0.40 | ||||||||
Minimum [Member] | Waiver and Consent Agreement [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.40 | |||||||||
Maximum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | $ 1 | ||||||||
Maximum [Member] | Waiver and Consent Agreement [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | |||||||||
Placement Agent [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share Based Compensation, Warrants Issued | 150,000 | 879,000 | 150,000 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.9375 | $ 0.76 | $ 0.9375 | |||||||
Common Stock, Shares, Issued | 167,205 | |||||||||
Placement agent warrants exercised | 301,133 | |||||||||
Share Vesting On Grant Date [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of option, Granted | 638,000 | 119,999 | 45,000 | |||||||
Over Three Year Period [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of option, Granted | 943,334 | 230,001 | 303,000 | |||||||
Warrant [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Fair Value Adjustment of Warrants | $ 27,963,000 | |||||||||
Common Stock [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Stock Issued During Period, Shares, New Issues | 18,699,645 | 5,000,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 66,667 | 10,416 | ||||||||
Proceeds from Issuance of Common Stock | $ 2,800,000 | |||||||||
Ampio March 2010 Stock Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Shares of common stock reserved for issuance | 11,700,000 | |||||||||
Modified Outstanding Warrants [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Allocated Share-based Compensation Expense | $ 75,000 | $ 37,000 | ||||||||
Modified Outstanding Warrants One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Allocated Share-based Compensation Expense | $ 1,100,000 | $ 422,000 |
Equity Instruments - Stock Opti
Equity Instruments - Stock Option Activity (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Options, Granted | 1,581,334 | 350,000 | 1,093,000 | |
Number of Options, Exercised | (66,667) | |||
Number of Options, Forfeited | (1,443,334) | (490,000) | (470,000) | |
Weighted Average Exercise Price, Granted | $ 0.66 | $ 1.11 | $ 3.28 | |
Weighted Average Exercise Price, Exercised | $ 0.51 | |||
Ampio [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Options, Beginning Balance | 7,175,832 | 7,315,832 | 6,568,248 | |
Number of Options, Granted | 1,581,334 | 350,000 | 1,093,000 | |
Number of Options, Exercised | (66,667) | 0 | (10,416) | |
Number of Options, Forfeited | (1,443,334) | 0 | (275,000) | |
Number of Options, Expired or Cancelled | 0 | (490,000) | (60,000) | |
Number of Options, Ending Balance | 7,247,165 | 7,175,832 | 7,315,832 | 6,568,248 |
Number of Options, Exercisable | 6,330,497 | |||
Number of Options, Available for grant | 2,911,169 | |||
Weighted Average Exercise Price, Beginning Balance | $ 3.64 | $ 3.71 | $ 3.82 | |
Weighted Average Exercise Price, Granted | 0.66 | 1.11 | 3.28 | |
Weighted Average Exercise Price, Exercised | 0.51 | 0 | 2.76 | |
Weighted Average Exercise Price, Forfeited | 4.01 | 0 | 4.80 | |
Weighted Average Exercise Price, Expired or Cancelled | 0 | 2.79 | 3.53 | |
Weighted Average Exercise Price, Ending Balance | 2.87 | $ 3.64 | $ 3.71 | $ 3.82 |
Weighted Average Exercise Price, Exercisable | $ 3.17 | |||
Weighted Average Remaining Contractual Life, Outstanding | 5 years 1 month 28 days | 4 years 11 months 26 days | 6 years 6 months 29 days | 7 years 7 months 28 days |
Weighted Average Remaining Contractual Life, Exercisable | 4 years 6 months 25 days | |||
Aggregate Intrinsic Value, Outstanding | $ 12,739,512 | |||
Aggregate Intrinsic Value, Exercisable | $ 9,728,318 |
Equity Instruments - Summary of
Equity Instruments - Summary of Stock Options Outstanding and Exercisable (Detail) | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Options Outstanding | shares | 7,247,165 |
Weighted Average Exercise Price | $ 2.87 |
Weighted Average Remaining Contractual Lives | 5 years 1 month 28 days |
$0.48 - $2.00[Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices Lower | $ 0.48 |
Range of Exercise Prices Upper | $ 2 |
Number of Options Outstanding | shares | 3,135,221 |
Weighted Average Exercise Price | $ 0.91 |
Weighted Average Remaining Contractual Lives | 6 years 2 months 1 day |
$2.01 - $5.00 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices Lower | $ 2.01 |
Range of Exercise Prices Upper | $ 5 |
Number of Options Outstanding | shares | 2,731,944 |
Weighted Average Exercise Price | $ 3.05 |
Weighted Average Remaining Contractual Lives | 3 years 11 months 16 days |
$5.01 - $8.93 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices Lower | $ 5.01 |
Range of Exercise Prices Upper | $ 8.93 |
Number of Options Outstanding | shares | 1,380,000 |
Weighted Average Exercise Price | $ 6.99 |
Weighted Average Remaining Contractual Lives | 5 years 3 months |
Equity Instruments - Assumption
Equity Instruments - Assumptions Used in Computing Fair Value of All Options Granted (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expected volatility, Minimum | 34.00% | 115.00% | 104.00% |
Expected volatility, Maximum | 113.00% | 116.00% | 113.00% |
Risk free interest rate, Minimum | 1.16% | 0.61% | 0.05% |
Risk free interest rate, Maximum | 2.13% | 1.20% | 1.64% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Warrant [Member] | |||
Expected volatility | 94.60% | 96.00% | |
Risk free interest rate | 1.71% | 1.18% | |
Expected term (years) | 5 years | 5 years | |
Dividend yield | 0.00% | 0.00% | |
Maximum [Member] | |||
Expected term (years) | 6 years 6 months | 5 years 6 months | 6 years 3 months |
Minimum [Member] | |||
Expected term (years) | 6 months | 1 year | 1 year 6 months |
Equity Instruments - Summary 52
Equity Instruments - Summary of Stock-Based Compensation Expense (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized expense at December 31, 2017 | $ 253,000 | ||
Weighted average remaining years to vest | 1 year 4 months 17 days | ||
Research and development expenses [Member] | Stock Based Compensation [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expenses | $ 298,000 | $ 371,000 | $ 2,092,000 |
General and administrative expenses [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expenses | 805,000 | 1,576,000 | 4,988,000 |
General and administrative expenses [Member] | Stock Based Compensation [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expenses | 447,000 | 1,145,000 | 2,866,000 |
General and administrative expenses [Member] | Common Stock Issued for Services [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expenses | $ 60,000 | $ 60,000 | $ 30,000 |
Equity Instruments - Assumpti53
Equity Instruments - Assumptions for Warrants Issued (Detail) - $ / shares | 1 Months Ended | 12 Months Ended | |||
Jun. 02, 2017 | Sep. 01, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Dividend yield | 0.00% | 0.00% | 0.00% | ||
Assumptions for warrants issued June 2, 2017 [Member] | Warrant One [Member] | |||||
Exercise Price | $ 0.76 | $ 0.76 | |||
Expected volatility | 94.60% | 102.40% | |||
Risk free interest rate | 1.71% | 2.14% | |||
Expected term (years) | 5 years | 4 years 4 months 24 days | |||
Dividend yield | 0.00% | 0.00% | |||
Number of Shares | 10,990,245 | 7,605,581 | |||
Assumptions for warrants issued September 1, 2016 [Member] | Warrant Two [Member] | |||||
Exercise Price | $ 1 | $ 0.40 | |||
Expected volatility | 96.00% | 106.10% | |||
Risk free interest rate | 1.18% | 2.05% | |||
Expected term (years) | 5 years | 3 years 8 months 12 days | |||
Dividend yield | 0.00% | 0.00% | |||
Number of Shares | 5,000,000 | 4,500,000 |
Equity Instruments - Warrants I
Equity Instruments - Warrants Issued in Conjunction with its Senior Convertible Debentures (Detail) - $ / shares | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Number of Warrants Outstanding | ||||
Number of Warrants Outstanding, Beginning Balance | 5,648,576 | 499,076 | 516,329 | |
Number of Warrants, Expired | (500) | |||
Number of Warrants Outstanding, Ending Balance | 13,332,243 | 5,648,576 | 499,076 | 516,329 |
Warrants, Weighted Average Exercise Price | ||||
Weighted Average Exercise Price, Outstanding Beginning Balance | $ 1.20 | $ 3.24 | $ 3.26 | |
Weighted Average Exercise Price, Warrants Expired | 3.13 | |||
Weighted Average Exercise Price, Outstanding Ending Balance | $ 0.73 | $ 1.20 | $ 3.24 | $ 3.26 |
Weighted Average Remaining Contractual Life | ||||
Weighted Average Remaining Contractual Life, Warrants Outstanding | 4 years 4 days | 4 years 3 months 11 days | 1 year 2 months 8 days | 1 year 5 months 8 days |
PrivateRegistered Direct Placements [Member] | ||||
Number of Warrants Outstanding | ||||
Number of Warrants, exercised | (4,185,797) | (17,253) | ||
Warrants, Weighted Average Exercise Price | ||||
Weighted Average Exercise Price, Warrants exercised | $ 0.72 | $ 3.94 | ||
Registered Direct Offering [Member] | ||||
Number of Warrants Outstanding | ||||
Number of Warrants issued | 11,869,464 | 5,150,000 | ||
Warrants, Weighted Average Exercise Price | ||||
Weighted Average Exercise Price, issued | $ 0.76 | $ 1 | ||
Weighted Average Remaining Contractual Life | ||||
Weighted Average Remaining Contractual Life, Warrants Issued | 4 years 5 months 1 day | 4 years 8 months 1 day |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2017 | Jul. 31, 2016 | Apr. 30, 2016 | Jul. 31, 2015 | Apr. 16, 2015 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Related Party Transaction [Line Items] | ||||||||||||
Shares to Be Received Upon Conversion Of Receivable | 396,816 | |||||||||||
Conversion Of Receivable, Description | (i) issuance to Aytu of a promissory note from Ampio in the principal amount of $10.0 million, maturing on the first anniversary of the Merger, (ii) cancellation of indebtedness of Luoxis to Ampio in the amount of $8.0 million; and (iii) cancellation of indebtedness of Vyrix to Ampio in the amount of $4.0 million. | |||||||||||
Trauma Research LLC [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Research and Development Expense | $ 252,000 | |||||||||||
Stockholders [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Advance to stockholders | $ 25,000 | |||||||||||
AytuBioScienceInc [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Shared Overhead Cost | $ 12,000 | $ 17,000 | $ 18,000 | $ 30,000 | $ 77,000 | $ 234,000 | $ 307,000 | |||||
Payments to Fund Long-term Loans to Related Parties | $ 10,000,000 | |||||||||||
Vyrix Pharmaceuticals, Inc [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Maximum Amount, Agreed To Lend | $ 3,000,000 | |||||||||||
Loans Receivable, Net | $ 4,000,000 | $ 2,700,000 | $ 500,000 | |||||||||
Vyrix Pharmaceuticals, Inc [Member] | Minimum [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Loans Receivable, Basis Spread on Variable Rate | 2.71% | |||||||||||
Vyrix Pharmaceuticals, Inc [Member] | Maximum [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Loans Receivable, Basis Spread on Variable Rate | 3.32% | |||||||||||
Luoxis Diagnostics, Inc [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Maximum Amount, Agreed To Lend | $ 3,000,000 | |||||||||||
Loans Receivable, Net | $ 8,000,000 | $ 3,000,000 | ||||||||||
Luoxis Diagnostics, Inc [Member] | Minimum [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Loans Receivable, Basis Spread on Variable Rate | 2.71% | |||||||||||
Luoxis Diagnostics, Inc [Member] | Maximum [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Loans Receivable, Basis Spread on Variable Rate | 3.32% |
Selected Quarterly Data (unau56
Selected Quarterly Data (unaudited) (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating expenses | |||||||||||
Research and development | $ 3,437,829 | $ 1,992,825 | $ 3,349,742 | $ 1,640,337 | $ 1,641,588 | $ 1,788,224 | $ 2,804,948 | $ 4,311,527 | |||
Selling, general and administrative | 1,367,570 | 1,073,458 | 1,340,528 | 1,362,668 | 1,306,631 | 1,555,527 | 1,563,013 | 2,110,896 | |||
Total operating expenses | 4,805,399 | 3,066,283 | 4,690,270 | 3,003,005 | 2,948,219 | 3,343,751 | 4,367,961 | 6,422,423 | $ 15,564,956 | $ 17,082,354 | $ 24,167,571 |
Other income | 0 | 0 | 54 | 3,033 | 3,690 | 3,080 | 6,555 | 10,154 | 3,086 | 23,479 | 11,489 |
Derivative gain (expense) | (38,311,826) | (1,146,772) | 2,113,293 | 1,126,473 | (199,409) | (715,732) | 0 | 0 | |||
Unrealized gain (loss) on trading security | (9,048) | (39,854) | (31,630) | (30,711) | (210,534) | 64,274 | 0 | 0 | |||
Loss from equity investment in Aytu BioScience | 0 | 0 | (690,834) | (352,520) | |||||||
Total other income (expense) | (38,320,874) | (1,186,626) | 2,081,717 | 1,098,795 | (406,253) | (648,378) | (684,279) | (342,366) | (36,326,989) | (2,081,275) | 59,853 |
Net loss | $ (43,126,273) | $ (4,252,909) | $ (2,608,553) | $ (1,904,210) | $ (3,354,472) | $ (3,992,129) | $ (5,052,240) | $ (6,764,789) | $ (51,891,945) | $ (19,163,629) | $ (33,713,917) |
Basic and diluted Ampio net loss per common share | $ (0.58) | $ (0.06) | $ (0.04) | $ (0.03) | $ (0.06) | $ (0.07) | $ (0.10) | $ (0.13) | $ (0.79) | $ (0.36) | $ (0.62) |
Weighted average number of Ampio common shares outstanding | 74,867,167 | 68,232,409 | 60,623,778 | 57,240,081 | 57,179,686 | 53,842,234 | 52,016,432 | 52,016,034 | 65,297,348 | 53,773,145 | 51,992,048 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Oct. 31, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2017 | Sep. 30, 2016 | |
Subsequent Event [Line Items] | |||||||
Proceeds from Issuance of Common Stock | $ 6,300,000 | $ 13,339,873 | $ 3,750,000 | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 66,667 | ||||||
Proceeds From Warrants Exercised | $ 135,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.76 | $ 1 | $ 0.76 | $ 1 | |||
Class of Warrant or Right, Outstanding | 176,999 | ||||||
Subsequent Event [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 1.61 | ||||||
Proceeds from Issuance of Common Stock | $ 2,442,200 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 249,666 | ||||||
Proceeds from Stock Options Exercised | $ 400,800 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.76 | ||||||
Common stock issued ,Warrant Exercise | 845,000 | ||||||
Subsequent Event [Member] | Investor [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.40 | ||||||
Common stock issued ,Warrant Exercise | 4,500,000 |