Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 04, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001506928 | |
Entity Registrant Name | Avinger Inc | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-36817 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 20-8873453 | |
Entity Address, Address Line One | 400 Chesapeake Drive | |
Entity Address, City or Town | Redwood City | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94063 | |
City Area Code | 650 | |
Local Phone Number | 241-7900 | |
Title of 12(b) Security | Common Stock, par value $0.001 per share | |
Trading Symbol | AVGR | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 95,563,955 |
Condensed Balance Sheets (Curre
Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 23,078 | $ 22,185 |
Accounts receivable, net of allowance for doubtful accounts of $6 at September 30, 2021 and $19 at December 31, 2020 | 1,400 | 1,484 |
Inventories | 4,519 | 3,876 |
Prepaid expenses and other current assets | 668 | 350 |
Total current assets | 29,665 | 27,895 |
Right of use asset | 3,408 | 4,063 |
Property and equipment, net | 213 | 727 |
Other assets | 452 | 510 |
Total assets | 33,738 | 33,195 |
Current liabilities: | ||
Accounts payable | 1,178 | 694 |
Accrued compensation | 1,379 | 1,703 |
Series A preferred stock dividends payable | 3,132 | 0 |
Accrued expenses and other current liabilities | 791 | 669 |
Leasehold liability, current portion | 959 | 806 |
Borrowings, current portion | 0 | 3,590 |
Total current liabilities | 7,439 | 7,462 |
Borrowings, long-term portion | 11,853 | 9,400 |
Leasehold liability, long-term portion | 2,449 | 3,257 |
Other long-term liabilities | 431 | 0 |
Total liabilities | 22,172 | 20,119 |
Commitments and contingencies (Note 7) | ||
Stockholders’ equity: | ||
Convertible preferred stock issuable in series, par value of $0.001; Aggregate shares authorized: 5,000,000 at September 30, 2021 and December 31, 2020; Aggregate shares issued and outstanding: 52,276 and 52,369 at September 30, 2021 and December 31, 2020, respectively; aggregate liquidation preference of $52,191 at both September 30, 2021 and December 31, 2020 (Note 8) | 0 | 0 |
Common stock, par value of $0.001; Shares authorized: 100,000,000 at September 30, 2021 and December 31, 2020; Shares issued and outstanding: 95,562,955 and 84,926,129 at September 30, 2021 and December 31, 2020, respectively | 96 | 85 |
Additional paid-in capital | 391,227 | 380,332 |
Accumulated deficit | (379,757) | (367,341) |
Total stockholders’ equity | 11,566 | 13,076 |
Total liabilities and stockholders’ equity | $ 33,738 | $ 33,195 |
Condensed Balance Sheets (Cur_2
Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 6 | $ 19 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 52,276 | 52,369 |
Preferred stock, shares outstanding (in shares) | 52,276 | 52,369 |
Preferred stock, liquidation preference | $ 52,191 | $ 52,191 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 95,562,955 | 84,926,129 |
Common stock, shares outstanding (in shares) | 95,562,955 | 84,926,129 |
Condensed Statements of Operati
Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 2,366 | $ 2,302 | $ 7,727 | $ 6,029 |
Cost of revenues | 1,566 | 1,525 | 5,015 | 4,392 |
Gross profit | 800 | 777 | 2,712 | 1,637 |
Operating expenses: | ||||
Research and development | 1,397 | 1,417 | 4,502 | 4,308 |
Selling, general and administrative | 3,892 | 3,461 | 11,755 | 10,501 |
Total operating expenses | 5,289 | 4,878 | 16,257 | 14,809 |
Loss from operations | (4,489) | (4,101) | (13,545) | (13,172) |
Interest income | 0 | 1 | 3 | 33 |
Interest expense | (419) | (433) | (1,217) | (1,245) |
Other (expenses) income, net | (4) | 8 | 2,343 | 8 |
Net loss and comprehensive loss | (4,912) | (4,525) | (12,416) | (14,376) |
Accretion of preferred stock dividends | (1,044) | (967) | (3,132) | (2,901) |
Net loss applicable to common stockholders | $ (5,956) | $ (5,492) | $ (15,548) | $ (17,277) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.06) | $ (0.08) | $ (0.17) | $ (0.46) |
Weighted average common shares used to compute net loss per share, basic and diluted (in shares) | 95,382 | 69,459 | 94,071 | 37,246 |
Condensed Statements of Stockho
Condensed Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 48,503 | 10,364,663 | |||
Balance at Dec. 31, 2019 | $ 0 | $ 10 | $ 355,220 | $ (348,335) | $ 6,895 |
Issuance of common stock in public offerings, net of commissions and issuance costs (in shares) | 0 | 74,140,297 | |||
Issuance of common stock in public offerings, net of commissions and issuance costs | $ 0 | $ 74 | 23,574 | 0 | 23,648 |
Issuance of common stock under officers and directors purchase plan and vesting of restricted stock units (in shares) | 0 | 416,119 | |||
Issuance of common stock under officers and directors purchase plan and vesting of restricted stock units | $ 0 | $ 1 | 27 | 0 | 28 |
Employee stock-based compensation | 0 | 0 | 1,160 | 0 | 1,160 |
Accretion of Series A preferred stock dividends | 0 | 0 | (2,901) | 0 | (2,901) |
Net and comprehensive loss | $ 0 | $ 0 | 0 | (14,376) | (14,376) |
Balance (in shares) at Sep. 30, 2020 | 48,503 | 84,921,079 | |||
Balance at Sep. 30, 2020 | $ 0 | $ 85 | 377,080 | (362,711) | 14,454 |
Balance (in shares) at Jun. 30, 2020 | 48,503 | 51,339,024 | |||
Balance at Jun. 30, 2020 | $ 0 | $ 51 | 365,684 | (358,186) | 7,549 |
Issuance of common stock in public offerings, net of commissions and issuance costs (in shares) | 0 | 33,221,725 | |||
Issuance of common stock in public offerings, net of commissions and issuance costs | $ 0 | $ 33 | 11,979 | 0 | 12,012 |
Issuance of common stock under officers and directors purchase plan and vesting of restricted stock units (in shares) | 0 | 360,330 | |||
Issuance of common stock under officers and directors purchase plan and vesting of restricted stock units | $ 0 | $ 1 | 0 | 0 | 1 |
Employee stock-based compensation | 0 | 0 | 384 | 0 | 384 |
Accretion of Series A preferred stock dividends | 0 | 0 | (967) | 0 | (967) |
Net and comprehensive loss | $ 0 | $ 0 | 0 | (4,525) | (4,525) |
Balance (in shares) at Sep. 30, 2020 | 48,503 | 84,921,079 | |||
Balance at Sep. 30, 2020 | $ 0 | $ 85 | 377,080 | (362,711) | 14,454 |
Balance (in shares) at Dec. 31, 2020 | 52,369 | 84,926,129 | |||
Balance at Dec. 31, 2020 | $ 0 | $ 85 | 380,332 | (367,341) | 13,076 |
Issuance of common stock in public offerings, net of commissions and issuance costs (in shares) | 0 | 10,000,000 | |||
Issuance of common stock in public offerings, net of commissions and issuance costs | $ 0 | $ 10 | 13,067 | 0 | 13,077 |
Issuance of common stock under officers and directors purchase plan and vesting of restricted stock units (in shares) | 0 | 264,826 | |||
Issuance of common stock under officers and directors purchase plan and vesting of restricted stock units | $ 0 | $ 1 | 0 | 0 | 1 |
Employee stock-based compensation | 0 | 0 | 960 | 0 | 960 |
Accretion of Series A preferred stock dividends | 0 | 0 | (3,132) | 0 | (3,132) |
Net and comprehensive loss | $ 0 | $ 0 | 0 | (12,416) | (12,416) |
Conversion of Series B preferred stock into common stock (in shares) | (93) | 372,000 | |||
Conversion of Series B preferred stock into common stock | $ 0 | $ 0 | 0 | 0 | 0 |
Balance (in shares) at Sep. 30, 2021 | 52,276 | 95,562,955 | |||
Balance at Sep. 30, 2021 | $ 0 | $ 96 | 391,227 | (379,757) | 11,566 |
Balance (in shares) at Jun. 30, 2021 | 52,276 | 95,353,002 | |||
Balance at Jun. 30, 2021 | $ 0 | $ 95 | 392,032 | (374,845) | 17,282 |
Issuance of common stock under officers and directors purchase plan and vesting of restricted stock units (in shares) | 0 | 209,953 | |||
Issuance of common stock under officers and directors purchase plan and vesting of restricted stock units | $ 0 | $ 1 | 0 | 0 | 1 |
Employee stock-based compensation | 0 | 0 | 239 | 0 | 239 |
Accretion of Series A preferred stock dividends | 0 | 0 | (1,044) | 0 | (1,044) |
Net and comprehensive loss | $ 0 | $ 0 | 0 | (4,912) | (4,912) |
Balance (in shares) at Sep. 30, 2021 | 52,276 | 95,562,955 | |||
Balance at Sep. 30, 2021 | $ 0 | $ 96 | $ 391,227 | $ (379,757) | $ 11,566 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities | ||
Net loss | $ (12,416) | $ (14,376) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 525 | 676 |
Amortization of debt issuance costs and debt discount | 65 | 126 |
Stock-based compensation | 960 | 1,160 |
Noncash interest expense and other charges | 1,151 | 1,119 |
Change in right of use asset | 102 | 129 |
Provision for excess and obsolete inventories | 97 | 390 |
Other non-cash charges | 3 | (52) |
Gain on extinguishment of debt | (2,353) | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 82 | 142 |
Inventories | (733) | (464) |
Prepaid expenses and other current assets | (318) | (197) |
Other assets | (44) | 5 |
Accounts payable | 484 | (31) |
Accrued compensation | (324) | (327) |
Accrued expenses and other current liabilities | 122 | 29 |
Other long-term liabilities | 431 | 0 |
Net cash used in operating activities | (12,166) | (11,671) |
Cash flows from investing activities | ||
Purchase of property and equipment | (18) | 0 |
Proceeds from sale of property and equipment | 0 | 40 |
Net cash (used in) provided by investing activities | (18) | 40 |
Cash flows from financing activities | ||
Proceeds from borrowings, net of issuance costs | 0 | 2,330 |
Proceeds from the issuance of common stock in public offerings, net | 13,077 | 23,648 |
Proceeds from the issuance of common stock under officers’ and directors’ purchase plan | 0 | 36 |
Net cash provided by financing activities | 13,077 | 26,014 |
Net change in cash and cash equivalents | 893 | 14,383 |
Cash and cash equivalents, beginning of period | 22,185 | 10,943 |
Cash and cash equivalents, end of period | 23,078 | 25,326 |
Noncash investing and financing activities: | ||
Accretion of Series A preferred stock dividends | 3,132 | 2,901 |
Reclassification of right of use asset to prepaid rent | (102) | (129) |
Transfers between inventory and property and equipment | $ (7) | $ (7) |
Note 1 - Organization
Note 1 - Organization | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Organization, Nature of Business Avinger, Inc. (the “Company”), a Delaware corporation, was incorporated in March 2007. “OCT”) Kittycat2, Liquidity Matters In the course of its activities, the Company has incurred losses and negative cash flows from operations since its inception. As of September 30, 2021, September 30, 2021 2022. January 2020 April 2020 April 2021, April May 2020, June July 2020, August September 2020, February 2021. not may The Company can provide no not may twelve no 19 second 2020, 19 July 2020. On September 22, 2021, not 5550 2 $1 30 180 March 21, 2022, $1 ten no not If the Company is unable to raise additional capital in sufficient amounts or on terms acceptable to it, the Company may one not Public Offerings On January 31, 2020, February 2018 $0.70 On April 30, 2020, May 6, 2020 February 2018 $0.25 On June 26, 2020, July 9, 2020 On August 6, 2020, March 7, 2019 ( August 11, 2020 On August 25, 2020, September 1, 2020 On February 2, 2021, |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 2. Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC (“SEC”). The accompanying unaudited condensed interim financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the Company’s financial information. The results for the three nine September 30, 2021 not December 31, 2021, December 31, 2020 10 December 31, 2020, March 11, 2021. 2 10 December 31, 2020. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Management uses significant judgment when making estimates related to its stock-based compensation, accruals related to compensation, the valuation of the common stock warrants, provisions for doubtful accounts receivable and excess and obsolete inventories, clinical trial accruals, and its reserves for sales returns and warranty costs. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not may may Concentration of Credit Risk, and Other Risks and Uncertainties Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents and accounts receivable to the extent of the amounts recorded on the balance sheets. The Company’s policy is to invest in cash and cash equivalents, consisting of money market funds. These financial instruments are held in Company accounts at one The Company provides for uncollectible amounts when specific credit problems arise. Management’s estimates for uncollectible amounts have been adequate, and management believes that all significant credit risks have been identified at September 30, 2021 December 31, 2020. The Company’s accounts receivable are due from a variety of healthcare organizations in the United States and select international markets. At September 30, 2021 December 31, 2020, one three nine September 30, 2021 2020, no 10% Disruption of our supply chain capabilities due to trade restrictions, political instability, severe weather, natural disasters, public health crises such as the ongoing COVID- 19 19 Product Warranty Costs The Company typically offers a one Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Beginning balance $ 231 $ 221 $ 193 $ 215 Warranty provision 5 13 46 124 Usage/Release (40 ) (35 ) (43 ) (140 ) Ending balance $ 196 $ 199 $ 196 $ 199 Net Loss per Share Attributable to Common Stockholders Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period, without consideration for potential dilutive common shares. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholder by the weighted average number of shares of common stock and dilutive potential shares of common stock outstanding during the period. Any common stock shares subject to repurchase are excluded from the calculations as the continued vesting of such shares is contingent upon the holders’ continued service to the Company. As of September 30, 2021 2020, no Net loss per share attributable to common stockholders was determined as follows (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net loss applicable to common stockholders $ (5,956 ) $ (5,492 ) $ (15,548 ) $ (17,277 ) Weighted average common stock outstanding, basic and diluted 95,382 69,459 94,071 37,246 Net loss per share attributable to common stockholders, basic and diluted $ (0.06 ) $ (0.08 ) $ (0.17 ) $ (0.46 ) The following potentially dilutive securities outstanding have been excluded from the computations of diluted weighted average shares outstanding because such securities have an anti-dilutive impact due to losses reported: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Common stock warrants equivalents 2,682,185 2,753,999 2,729,798 2,753,999 Common stock options 6,661 6,903 6,723 7,100 Convertible preferred stock 52,276 48,503 52,293 48,503 Unvested restricted stock units 379,226 749,512 407,461 820,743 3,120,348 3,558,917 3,196,275 3,630,345 Segment and Geographical Information The Company operates and manages its business as one three September 30, 2021 2020, nine September 30, 2021 2020, Recent Accounting Pronouncements Recently adopted accounting standards In December 2019, 2019 12, Income Taxes (Topic 740 January 1, 2021. not Recent accounting standards not In August 2020, 2020 06, Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 s Own Equity not 815 first 2022 not |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 3. The Company measures certain financial assets and liabilities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three Level 1 Level 2 1 not Level 3 no As of September 30, 2021 December 31, 2020, 1 September 30, 2021 December 31, 2020, no 2 3. no three nine September 30, 2021. |
Note 4 - Inventories
Note 4 - Inventories | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 4. Inventories consisted of the following (in thousands): September 30, December 31, 2021 2020 Raw materials $ 2,188 $ 1,904 Work-in-process 558 180 Finished products 1,773 1,792 Total inventories $ 4,519 $ 3,876 |
Note 5 - Borrowings
Note 5 - Borrowings | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 5. CRG On September 22, 2015, March 29, 2017. September 22, 2015. June 15, 2016 On February 14, 2018, On March 2, 2020, No. 3 ● extend the period that the Company can make interest payments in payment in kind (“PIK”) to June 30, 2021; ● lower the Minimum Revenue Covenants to $10 million for 2020, 2021, 2022; ● insert certain terms to clarify that all fees, including the prepayment premium, are due if the obligations are accelerated; and ● insert a new provision to make clear that to the extent the Company divides its assets/liabilities into divisions, such assets/liabilities will be treated as transferred to a third On May 12, 2020, No. 4 ● grant to the Company the right to optionally prepay in whole or in part the outstanding principal amount of the Loans for the Redemption Price, subject to certain conditions; and ● waive the Company’s requirement to comply with the Minimum Revenue Covenant for 2020. On January 22, 2021, No. 5 ● extend the maturity date of the Loan Agreement from June 30, 2023 December 31, 2025; ● extend the interest only payment period and the period that the Company can make interest payments in PIK to December 31, 2023; ● lower the Minimum Revenue Covenants to $8 million and $10 million for 2021 2022, 2023; 2024, 2025; ● change the date under the on-going stand-alone representation regarding no December 31, 2020; ● amend the on-going stand-alone representation and stand-alone event of default regarding “Material Adverse Change” such that any adverse change in or effect upon the revenue of the Company and its subsidiaries due to the outbreak of COVID- 19 not Under the amended Loan Agreement, no first 2024. not first 2024, 2024 2025. December 31, 2025. The Company may no seven The Loan Agreement requires that the Company adheres to certain affirmative and negative covenants, including financial reporting requirements, certain minimum financial covenants for pre-specified liquidity and revenue requirements and a prohibition against the incurrence of indebtedness, or creation of additional liens, other than as specifically permitted by the terms of the Loan Agreement. In particular, the covenants of the amended Loan Agreement included a covenant that the Company maintain a minimum of $3.5 million of cash and certain cash equivalents, and the Company has to achieve certain minimum revenues. If the Company fails to meet the applicable minimum revenue target in any calendar year, the Loan Agreement provides the Company with a cure right if it prepays a portion of the outstanding principal equal to 2.0 times the revenue shortfall. In addition, the Loan Agreement prohibits the payment of cash dividends on the Company’s capital stock and also places restrictions on mergers, sales of assets, investments, incurrence of liens, incurrence of indebtedness and transactions with affiliates. CRG may As of September 30, 2021, As of September 30, 2021, Year Ending December 31, 2021 (remaining three months of the year) $ — 2022 — 2023 — 2024 9,045 2025 10,339 19,384 Less: Amount of PIK additions and final facility fee to be incurred subsequent to September 30, 2021 (7,177 ) Less: Amount representing debt issuance costs (354 ) Borrowings, long term portion, as of September 30, 2021 $ 11,853 In connection with drawdowns under the Loan Agreement, the Company recorded aggregate debt discounts of $1.3 million as contra-debt. The debt discounts are being amortized as non-cash interest expense using the effective interest method over the term of the Loan Agreement. As of September 30, 2021 December 31, 2020, three September 30, 2021 2020, nine September 30, 2021 2020, three September 30, 2021 2020, nine September 30, 2021 2020, As of September 30, 2021, Paycheck Protection Program On April 23, 2020, The Loan, which was in the form of a promissory note, dated April 20, 2020 ( April 20, 2022 1% six may no As previously disclosed, the PPP was administered by the SBA. The SBA was given the authority under the PPP to forgive loans if all employees were kept on the payroll for a required period and the loan proceeds were used for payroll, rent and utilities. The Company applied for debt forgiveness in December 2020. On April 17, 2021, no April 2021 For the three September 30, 2021, no nine September 30, 2021, three nine September 30, 2020, |
Note 6 - Leases
Note 6 - Leases | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. The Company’s operating lease obligations primarily consist of leased office, laboratory, and manufacturing space under a non-cancelable operating lease. In addition to the minimum future lease commitments presented below, the lease requires the Company to pay property taxes, insurance, maintenance, and repair costs. The lease includes a rent holiday concession and escalation clauses for increased rent over the lease term. Rent expense is recognized using the straight-line method over the term of the lease. The Company records deferred rent calculated as the difference between rent expense and the cash rental payments. The lease will expire on November 30, 2024. November 2024, December 1, 2019. September 30, 2021 The operating lease is included on the balance sheet at the present value of the future base payments discounted at a 6.5% discount rate using the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment as the lease does provide an implicit rate. For the three September 30, 2021, three September 30, 2021 2020 $314,000 nine September 30, 2021 2020 three September 30, 2021 2020 nine September 30, 2021 2020 September 30, 2021. The following table presents the future operating lease payments and lease liability included on the condensed balance sheet related to the Company’s operating lease as of September 30, 2021 ( Year Ending December 31, 2021 (remaining three months of the year) $ 283 2022 1,162 2023 1,203 2024 1,138 3,786 Less: Imputed interest (378 ) Leasehold liability as of September 30, 2021 $ 3,408 The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 30, 2021 December 31, 2020 ( Lease-Related Assets and Liabilities Financial Statement Line Items September 30, 2021 December 31, 2020 Right of use assets: Operating lease Right of use asset $ 3,408 $ 4,063 Total right of use assets $ 3,408 $ 4,063 Lease liabilities: Operating lease Leasehold liability, current portion $ 959 $ 806 Leasehold liability, long-term portion 2,449 3,257 Total lease liabilities $ 3,408 $ 4,063 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 7. Purchase Obligations Purchase obligations consist of agreements to purchase goods and services entered into in the ordinary course of business. The Company had non-cancelable commitments to suppliers for purchases totaling approximately $1.6 million as of September 30, 2021. Indemnification In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and may may not not The Company indemnifies each of its directors and officers for certain events or occurrences, subject to certain limits, while the director is or was serving at the Company’s request in such capacity, as permitted under Delaware law and in accordance with its certificate of incorporation and bylaws. The term of the indemnification period lasts as long as a director may may not Legal Proceedings The Company is not may |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. Equity Convertible Preferred Stock As of September 30, 2021, Series A Convertible Preferred Stock Under the terms of the Series A Purchase Agreement, the holders of Series A preferred stock are entitled to receive annual accruing dividends at a rate of 8%, payable in additional shares of Series A preferred stock or cash, at the Company’s option. The shares of Series A preferred stock have no January 2019, December 2019 December 2020, December 31, 2020. September 30, 2021, September 30, 2021 2020, nine September 30, 2021 2020, Series B Convertible Preferred Stock The Series B preferred stock has a liquidation preference of $0.001 per share, full ratchet price based anti-dilution protection, has no no not March 31, 2021, September 30, 2021 December 31, 2020, Common Stock As of September 30, 2021, Common Stock Warrants As of September 30, 2021, Total Outstanding and Exercisable Underlying Shares of Common Stock Exercise Price per Share Expiration Date Series 1 Warrants issued in February 2018 Series B financing 8,979,000 897,900 $ 20.00 February 2025 Series 2 Warrants issued in February 2018 Series B financing 8,709,500 870,950 $ 20.00 February 2025 Warrants issued in November 2018 financing 8,768,395 876,840 $ 4.00 November 2023 Total 26,456,895 2,645,690 As of September 30, 2021 December 31, 2020, July 2021. Stock Plans In January 2015, 2015 “2015 September 30, 2021, 2015 Stock option activity under the Plans is set forth below: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Intrinsic Value (in thousands) Balance at December 31, 2020 6,821 $ 1,241.59 5.81 $ — Expired (165 ) 2,801.92 Forfeited — — Balance at September 30, 2021 6,656 $ 1,202.91 5.16 $ — Exercisable at September 30, 2021 6,656 $ 1,202.91 5.16 $ — Vested and expected to vest at September 30, 2021 6,656 $ 1,202.91 5.16 $ — There were no options granted or exercised during the nine September 30, 2021 2020. three September 30, 2021 2020, nine September 30, 2021 2020, September 30, 2021, no not three nine September 30, 2021 2020. The Company measures the fair value of RSUs using the closing stock price of a share of the Company’s common stock on the grant date and is recognized as expense on a straight-line basis over the vesting period of the award. A summary of all RSU activity is presented below: Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term Awards outstanding at December 31, 2020 412,642 $ 3.84 0.98 Awarded 90,000 $ 1.61 Released (265,826 ) $ 5.22 Forfeited (32,364 ) $ 2.68 Awards outstanding at September 30, 2021 204,452 $ 1.25 0.97 As of September 30, 2021, one September 30, 2021, nine September 30, 2021 2020, three September 30, 2021 2020, nine September 30, 2021 2020 2018 There was no nine September 30, 2021. September 30, 2021, |
Note 9 - Stock-based Compensati
Note 9 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 9. Total noncash stock-based compensation expense relating to the Company’s stock options and RSUs recognized during the three nine September 30, 2021 2020, Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of revenues $ 24 $ 36 $ 93 $ 97 Research and development expenses 78 116 274 354 Selling, general and administrative expenses 137 232 593 709 $ 239 $ 384 $ 960 $ 1,160 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Beginning balance $ 231 $ 221 $ 193 $ 215 Warranty provision 5 13 46 124 Usage/Release (40 ) (35 ) (43 ) (140 ) Ending balance $ 196 $ 199 $ 196 $ 199 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net loss applicable to common stockholders $ (5,956 ) $ (5,492 ) $ (15,548 ) $ (17,277 ) Weighted average common stock outstanding, basic and diluted 95,382 69,459 94,071 37,246 Net loss per share attributable to common stockholders, basic and diluted $ (0.06 ) $ (0.08 ) $ (0.17 ) $ (0.46 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Common stock warrants equivalents 2,682,185 2,753,999 2,729,798 2,753,999 Common stock options 6,661 6,903 6,723 7,100 Convertible preferred stock 52,276 48,503 52,293 48,503 Unvested restricted stock units 379,226 749,512 407,461 820,743 3,120,348 3,558,917 3,196,275 3,630,345 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, December 31, 2021 2020 Raw materials $ 2,188 $ 1,904 Work-in-process 558 180 Finished products 1,773 1,792 Total inventories $ 4,519 $ 3,876 |
Note 5 - Borrowings (Tables)
Note 5 - Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Year Ending December 31, 2021 (remaining three months of the year) $ — 2022 — 2023 — 2024 9,045 2025 10,339 19,384 Less: Amount of PIK additions and final facility fee to be incurred subsequent to September 30, 2021 (7,177 ) Less: Amount representing debt issuance costs (354 ) Borrowings, long term portion, as of September 30, 2021 $ 11,853 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending December 31, 2021 (remaining three months of the year) $ 283 2022 1,162 2023 1,203 2024 1,138 3,786 Less: Imputed interest (378 ) Leasehold liability as of September 30, 2021 $ 3,408 |
Right of Use Asset and Liabilities [Table Text Block] | Lease-Related Assets and Liabilities Financial Statement Line Items September 30, 2021 December 31, 2020 Right of use assets: Operating lease Right of use asset $ 3,408 $ 4,063 Total right of use assets $ 3,408 $ 4,063 Lease liabilities: Operating lease Leasehold liability, current portion $ 959 $ 806 Leasehold liability, long-term portion 2,449 3,257 Total lease liabilities $ 3,408 $ 4,063 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Total Outstanding and Exercisable Underlying Shares of Common Stock Exercise Price per Share Expiration Date Series 1 Warrants issued in February 2018 Series B financing 8,979,000 897,900 $ 20.00 February 2025 Series 2 Warrants issued in February 2018 Series B financing 8,709,500 870,950 $ 20.00 February 2025 Warrants issued in November 2018 financing 8,768,395 876,840 $ 4.00 November 2023 Total 26,456,895 2,645,690 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Intrinsic Value (in thousands) Balance at December 31, 2020 6,821 $ 1,241.59 5.81 $ — Expired (165 ) 2,801.92 Forfeited — — Balance at September 30, 2021 6,656 $ 1,202.91 5.16 $ — Exercisable at September 30, 2021 6,656 $ 1,202.91 5.16 $ — Vested and expected to vest at September 30, 2021 6,656 $ 1,202.91 5.16 $ — |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term Awards outstanding at December 31, 2020 412,642 $ 3.84 0.98 Awarded 90,000 $ 1.61 Released (265,826 ) $ 5.22 Forfeited (32,364 ) $ 2.68 Awards outstanding at September 30, 2021 204,452 $ 1.25 0.97 |
Note 9 - Stock-based Compensa_2
Note 9 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of revenues $ 24 $ 36 $ 93 $ 97 Research and development expenses 78 116 274 354 Selling, general and administrative expenses 137 232 593 709 $ 239 $ 384 $ 960 $ 1,160 |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Feb. 02, 2021 | Sep. 01, 2020 | Aug. 25, 2020 | Aug. 11, 2020 | Aug. 06, 2020 | Jul. 09, 2020 | Jul. 09, 2020 | Jun. 26, 2020 | May 06, 2020 | Apr. 30, 2020 | Apr. 23, 2020 | Jan. 31, 2020 | Feb. 28, 2021 | Jan. 31, 2020 | Sep. 30, 2020 | Jul. 31, 2020 | May 31, 2020 | Jun. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (379,757) | $ (367,341) | ||||||||||||||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 23,078 | $ 22,185 | ||||||||||||||||||
Share Price (in dollars per share) | $ 0.74 | |||||||||||||||||||
COVID 19 [Member] | ||||||||||||||||||||
Reduction of Non-manufacturing Employees Salaries | 20.00% | |||||||||||||||||||
Reduction of Hours Worked by Manufacturing Workers, Percentage | 20.00% | |||||||||||||||||||
Paycheck Protection Program CARES Act [Member] | ||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 2,300 | |||||||||||||||||||
January 2020 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 3,900 | $ 3,900 | ||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 6,428,572 | |||||||||||||||||||
Share Price (in dollars per share) | $ 0.70 | $ 0.70 | ||||||||||||||||||
April and May 2020 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 3,000 | |||||||||||||||||||
June and July 2020 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 5,500 | |||||||||||||||||||
August and September 2020 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 11,300 | |||||||||||||||||||
February 2021 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 13,100 | $ 13,100 | ||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 10,000,000 | |||||||||||||||||||
Share Price (in dollars per share) | $ 1.44 | |||||||||||||||||||
April 2020 Public Offering [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 12,600,000 | |||||||||||||||||||
Share Price (in dollars per share) | $ 0.25 | |||||||||||||||||||
May 2020 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 3,000 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,890,000 | |||||||||||||||||||
June 2020 Public Offering [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 20,000,000 | |||||||||||||||||||
Share Price (in dollars per share) | $ 0.27 | |||||||||||||||||||
July 2020 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 5,500 | $ 700 | ||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 3,000,000 | |||||||||||||||||||
August 2020 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 6,200 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 11,063,830 | 2,368,421 | 15,789,474 | |||||||||||||||||
Share Price (in dollars per share) | $ 0.47 | $ 0.38 | ||||||||||||||||||
September 2020 Public Offering [Member] | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 5,100 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,000,000 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) shares in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021shares | Sep. 30, 2020shares | Dec. 31, 2020 | |
Weighted Average Number of Shares, Common Stock Subject to Repurchase or Cancellation (in shares) | 0 | 0 | |||
Number of Reportable Segments | 1 | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Number of Major Customers | 1 | 1 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 11.00% | 14.00% | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES | |||||
Concentration Risk, Percentage | 94.00% | 94.00% | 94.00% | 94.00% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Product Warranty (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Beginning balance | $ 231 | $ 221 | $ 193 | $ 215 |
Warranty provision | 5 | 13 | 46 | 124 |
Usage/Release | (40) | (35) | (43) | (140) |
Ending balance | $ 196 | $ 199 | $ 196 | $ 199 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net loss applicable to common stockholders | $ (5,956) | $ (5,492) | $ (15,548) | $ (17,277) |
Weighted average common stock outstanding, basic and diluted (in shares) | 95,382 | 69,459 | 94,071 | 37,246 |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.06) | $ (0.08) | $ (0.17) | $ (0.46) |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Anti-dilutive Securities (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Antidilutive Securities (in shares) | 3,120,348 | 3,558,917 | 3,196,275 | 3,630,345 |
Common Stock Warrants [Member] | ||||
Antidilutive Securities (in shares) | 2,682,185 | 2,753,999 | 2,729,798 | 2,753,999 |
Common Stock Options [ member] | ||||
Antidilutive Securities (in shares) | 6,661 | 6,903 | 6,723 | 7,100 |
Preferred Stock [Member] | ||||
Antidilutive Securities (in shares) | 52,276 | 48,503 | 52,293 | 48,503 |
Restricted Stock Units (RSUs) [Member] | ||||
Antidilutive Securities (in shares) | 379,226 | 749,512 | 407,461 | 820,743 |
Note 3 - Fair Value Measureme_2
Note 3 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 4 - Inventories - Schedule
Note 4 - Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Raw materials | $ 2,188 | $ 1,904 |
Work-in-process | 558 | 180 |
Finished products | 1,773 | 1,792 |
Total inventories | $ 4,519 | $ 3,876 |
Note 5 - Borrowings (Details Te
Note 5 - Borrowings (Details Textual) - USD ($) | Jan. 22, 2021 | Apr. 23, 2020 | Feb. 14, 2018 | Apr. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Apr. 17, 2021 | Dec. 31, 2020 | Mar. 02, 2020 | Jun. 15, 2016 | Sep. 22, 2015 |
Gain (Loss) on Extinguishment of Debt, Total | $ 2,353,000 | $ 0 | |||||||||||
Interest Expense, Total | $ 419,000 | $ 433,000 | 1,217,000 | 1,245,000 | |||||||||
Paycheck Protection Program CARES Act [Member] | |||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 2,300,000 | ||||||||||||
Long-term Debt, Total | $ 0 | ||||||||||||
Debt Instrument Interest Forgiven | $ 23,000 | ||||||||||||
Interest Expense, Total | 0 | 4,000 | 7,000 | 10,000 | |||||||||
Paycheck Protection Program CARES Act [Member] | Other Nonoperating Income (Expense) [Member] | |||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 2,400,000 | ||||||||||||
CRG [Member] | Loan Agreement [Member] | |||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 50,000,000 | ||||||||||||
Debt Instrument, Covenant Compliance Target Minimum Revenue, Next Twelve Months | $ 8,000,000 | $ 10,000,000 | |||||||||||
Debt Instrument, Covenant, Compliance Target Minimum Revenue Second Year | 10,000,000 | 12,000,000 | |||||||||||
Debt Instrument, Covenant Compliance Target Minimum Revenue Third Year | 12,000,000 | $ 15,000,000 | |||||||||||
Debt Instrument, Covenant Compliance Target Minimum Revenue Fourth Year | 14,500,000 | ||||||||||||
Debt Instrument, Covenant Compliance Target Minimum Revenue Fifth Year | $ 17,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.50% | ||||||||||||
Debt Instrument, Periodic Payment, Total | $ 1,900,000 | ||||||||||||
Long-Term Debt, Maturity, Year Four | 7,500,000 | ||||||||||||
Long-Term Debt, Maturity, Year Five | $ 7,500,000 | ||||||||||||
Debt Instrument, Redemption Initial Prepayment Premium Percentage | 5.00% | ||||||||||||
Debt Instrument, Redemption Annual Decline in Prepayment Premium Percentage | 1.00% | ||||||||||||
Debt Instrument, Redemption Prepayment Premium Percentage after Fifth Year | 0.00% | ||||||||||||
Debt Instrument, Financing Fee Percentage | 1.50% | ||||||||||||
Debt Instrument, Final Facility Fee Percentage | 15.00% | ||||||||||||
Debt Instrument, Covenant Compliance Cash and Certain Cash Equivalents Minimum | $ 3,500,000 | ||||||||||||
Debt Instrument, Covenant Compliance Prepayment Multiplier for Revenue Shortfall | 2 | ||||||||||||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net, Total | 354,000 | 354,000 | $ 418,000 | 1,300,000 | |||||||||
Amortization of Debt Discount (Premium) | 21,000 | 42,000 | 65,000 | $ 127,000 | |||||||||
Interest Expense, Debt, Total | $ 419,000 | $ 427,000 | $ 1,200,000 | ||||||||||
CRG [Member] | Loan Agreement [Member] | Series A Preferred Stock Purchase Agreement with CRG [Member] | |||||||||||||
Debt Conversion, Original Debt, Amount | $ 38,000,000 | ||||||||||||
Debt Conversion, Fees and Prepayment Premium Amount | $ 3,800,000 | ||||||||||||
CRG [Member] | Loan Agreement [Member] | First Tranche, Borrowed on September 22, 2015 [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 30,000,000 | ||||||||||||
CRG [Member] | Loan Agreement [Member] | Second Tranche, Borrowed on June 15, 2016 [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 10,000,000 |
Note 5 - Borrowings - Schedule
Note 5 - Borrowings - Schedule of Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Borrowings, long term portion, as of September 30, 2021 | $ 0 | $ 3,590 |
Loan Agreement [Member] | CRG [Member] | ||
2021 (remaining three months of the year) | 0 | |
2022 | 0 | |
2023 | 0 | |
2024 | 9,045 | |
Long-Term Debt, Maturity, Year Four | 10,339 | |
Long-term Debt, Total | 19,384 | |
Less: Amount of PIK additions and final facility fee to be incurred subsequent to September 30, 2021 | (7,177) | |
Less: Amount representing debt issuance costs | (354) | |
Borrowings, long term portion, as of September 30, 2021 | $ 11,853 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Apr. 01, 2019 | |
Lessee, Operating Lease, Liability, Payments, Due, Total | $ 3,786,000 | $ 3,786,000 | $ 5,800,000 | ||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 3 years 2 months 12 days | 3 years 2 months 12 days | |||
Lessee, Operating Lease, Discount Rate | 6.50% | 6.50% | |||
Operating Lease, Expense, Excluding Maintenance Fee and Other Expense, Monthly | $ 105,000 | ||||
Operating Lease, Expense | 314,000 | $ 314,000 | $ 942,000 | $ 942,000 | |
Operating Lease, Right-of-Use Asset, Amortization Expense | 256,000 | $ 242,000 | 758,000 | $ 718,000 | |
Prepaid Rent | $ 189,000 | $ 189,000 |
Note 6 - Leases - Future Operat
Note 6 - Leases - Future Operating Lease Payments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Apr. 01, 2019 |
2021 (remaining three months of the year) | $ 283 | ||
2022 | 1,162 | ||
2023 | 1,203 | ||
2024 | 1,138 | ||
Lessee, Operating Lease, Liability, to be Paid, Total | 3,786 | $ 5,800 | |
Less: Imputed interest | (378) | ||
Leasehold liability as of September 30, 2021 | $ 3,408 | $ 4,063 |
Note 6 - ROU Assets and Lease L
Note 6 - ROU Assets and Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Operating lease | $ 3,408 | $ 4,063 |
Total right of use assets | 3,408 | 4,063 |
Operating lease | 959 | 806 |
Operating Lease, Liability, Noncurrent | 2,449 | 3,257 |
Total lease liabilities | $ 3,408 | $ 4,063 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Details Textual) $ in Millions | Sep. 30, 2021USD ($) |
Purchase Commitment [Member] | |
Purchase Obligation, Total | $ 1.6 |
Note 8 - Stockholders' Equity_2
Note 8 - Stockholders' Equity (Details Textual) - USD ($) | Feb. 14, 2018 | Jul. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 31, 2019 | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Feb. 16, 2018 |
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||
Preferred Stock, Shares Issued, Total (in shares) | 52,369 | 52,276 | 52,276 | ||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 52,369 | 52,276 | 52,276 | ||||||||
Common Stock, Shares Authorized (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | ||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||
Common Stock, Shares, Issued, Total (in shares) | 84,926,129 | 95,562,955 | 95,562,955 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,753,999 | 2,645,690 | 2,645,690 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | |||||||||
Share-based Payment Arrangement, Expense | $ 239,000 | $ 384,000 | $ 960,000 | $ 1,160,000 | |||||||
Share Price (in dollars per share) | $ 0.74 | $ 0.74 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | |||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||
Share-based Payment Arrangement, Expense | $ 0 | 9,000 | $ 4,000 | $ 51,000 | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 0 | 0 | |||||||||
Share-based Payment Arrangement, Expense, Tax Benefit | 0 | 0 | 0 | 0 | |||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||
Share-based Payment Arrangement, Expense | 200,000 | 400,000 | 1,000,000 | 1,100,000 | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 200,000 | $ 200,000 | |||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 412,642 | 204,452 | 204,452 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Fair Value | $ 200,000 | $ 200,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 300,000 | 100,000 | |||||||||
The 2015 Employee Stock Purchase Plan [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 167,429 | 167,429 | |||||||||
Officer and Director Share Purchase Plan [Member] | |||||||||||
Common Stock, Shares, Issued, Total (in shares) | 0 | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 92,170 | 92,170 | |||||||||
Series B Financing Warrants [Member] | |||||||||||
Class Of Warrant Or Right Warrants Expired (in shares) | 1,083,091 | ||||||||||
Class of Warrant or Right, Number of Securities Called By Warrants or Rights Expired (in shares) | 108,309 | ||||||||||
Conversion of Series B Preferred Stock into Common Stock [Member] | |||||||||||
Conversion of Stock, Shares Converted (in shares) | 93 | ||||||||||
Conversion of Stock, Shares Issued (in shares) | 372,000 | ||||||||||
Series A Preferred Stock [Member] | |||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 52,191 | 52,191 | |||||||||
Dividends, Preferred Stock, Total | $ 1,000,000 | $ 967,000 | $ 3,100,000 | $ 2,900,000 | |||||||
Series A Preferred Stock [Member] | CRG [Member] | |||||||||||
Preferred Stock Dividends, Shares (in shares) | 3,866 | 3,580 | 2,945 | ||||||||
Series A Preferred Stock [Member] | Conversion of Principal Amount of Senior Secured Loan to Newly Authorized Series A Preferred Stock [Member] | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 8.00% | ||||||||||
Series B Preferred Stock [Member] | |||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 178 | 85 | 85 | ||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 0.25 |
Note 8 - Stockholder's Equity -
Note 8 - Stockholder's Equity - Outstanding Warrants (Details) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Total outstanding and exercisable (in shares) | 26,456,895 | |
Underlying shares of common stock (in shares) | 2,645,690 | 2,753,999 |
Series 1 February 2018 Warrants [Member] | ||
Total outstanding and exercisable (in shares) | 8,979,000 | |
Underlying shares of common stock (in shares) | 897,900 | |
Exercise price per share (in dollars per share) | $ 20 | |
Series 2 February 2018 Warrants [Member] | ||
Total outstanding and exercisable (in shares) | 8,709,500 | |
Underlying shares of common stock (in shares) | 870,950 | |
Exercise price per share (in dollars per share) | $ 20 | |
July 2018 Warrants [Member] | ||
Total outstanding and exercisable (in shares) | 8,768,395 | |
Underlying shares of common stock (in shares) | 876,840 | |
Exercise price per share (in dollars per share) | $ 4 |
Note 8 - Stockholders' Equity -
Note 8 - Stockholders' Equity - Stock Option Activity (Details) - $ / shares shares in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Options (in shares) | 6,821 | |
Options, weighted average exercise price (in dollars per share) | $ 1,241.59 | |
Options, weighted average remaining contractual life (Year) | 5 years 1 month 28 days | 5 years 9 months 21 days |
Expired (in shares) | (165) | |
Expired, weighted average exercise price (in dollars per share) | $ 2,801,920 | |
Options (in shares) | 6,656 | 6,821 |
Options, weighted average exercise price (in dollars per share) | $ 1,202.91 | $ 1,241.59 |
Exercisable (in shares) | 6,656 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 1,202.91 | |
Exercisable, weighted average remaining contractual life (Year) | 5 years 1 month 28 days | |
Vested and expected to vest (in shares) | 6,656 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 1,202.91 | |
Vested and expected to vest, weighted average remaining contractual life (Year) | 5 years 1 month 28 days |
Note 8 - Stockholders' Equity_3
Note 8 - Stockholders' Equity - Restricted Stock Units Award Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Awards outstanding, Shares (in shares) | 412,642 | |
Awards outstanding, Weighted grant date fair value (in dollars per share) | $ 3.84 | |
Awards outstanding, Weighted average remaining contractual term (Year) | 11 months 19 days | 11 months 23 days |
Awarded, Shares (in shares) | 90,000 | |
Awarded, Weighted grant date fair value (in dollars per share) | $ 1.61 | |
Released, Shares (in shares) | (265,826) | |
Released, Weighted grant date fair value (in dollars per share) | $ 5.22 | |
Forfeited, Shares (in shares) | (32,364) | |
Forfeited, Weighted grant date fair value (in dollars per share) | $ 2.68 | |
Awards outstanding, Shares (in shares) | 204,452 | 412,642 |
Awards outstanding, Weighted grant date fair value (in dollars per share) | $ 1.25 | $ 3.84 |
Note 9 - Stock-based Compensa_3
Note 9 - Stock-based Compensation - Noncash Stock-based Compensation Expense Related to Stock Options, ESPP, and RSUs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Allocated Share-based Compensation Expense | $ 239 | $ 384 | $ 960 | $ 1,160 |
Cost of Sales [Member] | ||||
Allocated Share-based Compensation Expense | 24 | 36 | 93 | 97 |
Research and Development Expense [Member] | ||||
Allocated Share-based Compensation Expense | 78 | 116 | 274 | 354 |
Selling, General and Administrative Expenses [Member] | ||||
Allocated Share-based Compensation Expense | $ 137 | $ 232 | $ 593 | $ 709 |