Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Nov. 30, 2015 | Jan. 07, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Nov. 30, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | Ceres, Inc. | |
Entity Central Index Key | 767,884 | |
Current Fiscal Year End Date | --08-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | CERE | |
Entity Common Stock, Shares Outstanding | 14,685,700 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Nov. 30, 2015 | Aug. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 3,438 | $ 8,095 |
Prepaid expenses | 403 | 477 |
Accounts receivable | 848 | 577 |
Assets held for sale | 228 | 474 |
Other current assets | 594 | 143 |
Total current assets | 5,511 | 9,766 |
Property and equipment, net | 1,196 | 1,258 |
Other assets | 126 | 98 |
Total assets | 6,833 | 11,122 |
Current liabilities: | ||
Accounts payable and accrued expenses | 3,826 | 4,402 |
Billings in excess of costs | 516 | 802 |
Deferred rent | 18 | 18 |
Total current liabilities | 4,360 | 5,222 |
Deferred rent | 52 | 56 |
Common stock warrant liabilities | 1,239 | 1,631 |
Total liabilities | $ 5,651 | $ 6,909 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Common stock and additional paid in capital, $0.01 par value; 240,000,000 shares authorized; 8,830,700 shares issued and outstanding at November 30, 2015; 8,830,700 shares issued and outstanding at August 31, 2015 | $ 335,870 | $ 335,512 |
Accumulated other comprehensive loss | 792 | 762 |
Accumulated deficit | (335,480) | (332,061) |
Total stockholders’ equity | 1,182 | 4,213 |
Total liabilities and stockholders’ equity | $ 6,833 | $ 11,122 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Nov. 30, 2015 | Aug. 31, 2015 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 240,000,000 | 240,000,000 |
Common Stock, Shares, Issued | 8,830,700 | 8,830,700 |
Common Stock, Shares, Outstanding | 8,830,700 | 8,830,700 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Revenues: | ||
Services | $ 942 | $ 400 |
Total revenues | 942 | 400 |
Cost and operating expenses: | ||
Cost of products | 946 | 442 |
Research and development | 1,718 | 2,504 |
Selling, general and administrative | 2,088 | 3,441 |
Total cost and operating expenses | 4,752 | 6,387 |
Loss from operations | (3,810) | (5,987) |
Interest expense | (4) | (3) |
Interest income | 3 | 18 |
Other income | 393 | 0 |
Loss before income taxes | (3,418) | (5,972) |
Income tax expense | (1) | (1) |
Net loss | $ (3,419) | $ (5,973) |
Basic and diluted net loss per share | $ (0.39) | $ (0.96) |
Weighted average outstanding common shares used for net loss per share: | ||
Basic and diluted | 8,830,479 | 6,032,102 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Net loss | $ (3,419) | $ (5,973) |
Other comprehensive income (loss) | ||
Foreign currency translation adjustments | 30 | (30) |
Net unrealized gains on marketable securities | 0 | 4 |
Total comprehensive loss | $ (3,389) | $ (5,999) |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Cash flows from operating activities: | ||
Net loss | $ (3,419) | $ (5,973) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net gain on disposal of assets | (5) | (23) |
Loss on assets held for sale | 68 | 0 |
Depreciation and amortization | 115 | 189 |
Amortization of premiums on marketable securities | 0 | 63 |
Non-cash interest income | 0 | (75) |
Stock compensation | 358 | 615 |
Change in fair value of common stock warrants | (392) | 0 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 76 | 57 |
Accounts receivable | (271) | 47 |
Inventories | 0 | (749) |
Other assets | (480) | (200) |
Accounts payables and accrued expenses | (492) | (351) |
Other liabilities | (290) | 85 |
Other | 0 | 22 |
Net cash used in operating activities | (4,732) | (6,293) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (4) | (149) |
Proceeds from sale of property and equipment | 5 | 23 |
Proceeds from sale of assets held for sale | 103 | 0 |
Purchases of marketable securities | 0 | (720) |
Maturities of marketable securities | 0 | 7,950 |
Net cash provided by investing activities | 104 | 7,104 |
Cash flows from financing activities: | ||
Repayment of debt | 0 | (23) |
Net cash used in financing activities | 0 | (23) |
Effect of foreign currency translation on cash | (29) | 43 |
Net increase (decrease) in cash and cash equivalents | (4,657) | 831 |
Cash and cash equivalents at beginning of period | 8,095 | 3,423 |
Cash and cash equivalents at end of period | $ 3,438 | $ 4,254 |
The Company
The Company | 3 Months Ended |
Nov. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations [Text Block] | Ceres, Inc. (Company) is an agricultural biotechnology company that develops and markets seeds and traits to produce crops for feed, forages, sugar and other markets. The Company uses a combination of advanced plant breeding, biotechnology and bioinformatics to develop seed products and biotechnology traits to address many of the current limitations and future challenges facing agriculture. These technology platforms, which can increase crop productivity, improve quality, reduce crop inputs and improve cultivation on marginal land, have broad application across multiple end markets, including food, feed, fiber and fuel. In January 2010, the Company formed a subsidiary, Ceres Sementes do Brasil Ltda. The Company’s ownership in this subsidiary is 99.9 99.9 On April 8, 2015, the Company filed an amendment to its amended and restated certificate of incorporation which effected a 1 for 8 reverse stock split of the Company’s issued and outstanding shares of common stock. The par value of the common stock was not adjusted as a result of the reverse stock split. All issued and outstanding shares of common stock, warrants, and stock options and per share amounts contained in the Company’s condensed consolidated financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented. The Company has incurred substantial net losses from operations since its inception and its accumulated deficit as of November 30, 2015 was $ 335,480 As of November 30, 2015 the Company had cash and cash equivalents of $ 3,438 On December 17, 2015 the Company raised net proceeds of approximately 6,400 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Nov. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | (2) Summary of Significant Accounting Policies Basis of Presentation The accompanying interim condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (GAAP) and with the instructions for Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and notes required for complete financial statements. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Form 10-K for the fiscal year ended August 31, 2015 filed with the Securities and Exchange Commission (SEC) on November 23, 2015. The accompanying interim condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The accompanying interim condensed consolidated financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair presentation of the results of operations for the periods presented. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period. Principles of Consolidation The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates In preparing the unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include the valuation of property and equipment, common stock and stock options. Actual results could differ from those estimates. Fair Value of Financial Instruments Assets and liabilities recorded at fair value in the condensed consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels that are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 inputs are unobservable inputs for the asset or liability. The following tables present the Company’s financial assets that were measured at fair value on a recurring basis as of November 30, 2015 and August 31, 2015 by level within the fair value hierarchy: November 30, 2015 Level 1 Level 2 Level 3 Total Financial Assets Money market funds $ 1,732 $ $ $ 1,732 Certificates of deposit available for sale 60 60 Total $ 1,732 $ 60 $ $ 1,792 All of the money market funds and certificates of deposit are included in cash and cash equivalents on the condensed consolidated balance sheets. August 31, 2015 Level 1 Level 2 Level 3 Total Financial Assets Money market funds $ 3,732 $ $ $ 3,732 Certificates of deposit available for sale 60 60 Total $ 3,732 $ 60 $ $ 3,792 All of the money market funds and certificates of deposit are included in cash and cash equivalents on the condensed consolidated balance sheets. Certain common stock warrants have been classified as liabilities due to some features which could enable the holder to receive cash. The Company utilizes an option pricing valuation model to determine the fair value of its outstanding common stock warrant liabilities. The inputs to the model include fair value of the stock related to the warrant, exercise price of the warrant, expected term, expected volatility, risk-free interest rate and dividend yield. As several significant inputs are not observable, the overall fair value measurement of the common stock warrants are classified as Level 3. The fair value of the Company’s common stock warrant liabilities were $ 1,239 1,631 Three Months Ended November 30, 2015 Year Ended August 31, 2015 Expected term (in years) 4.66 - 5.24 4.91 - 5.49 Expected volatility 70.20% - 71.60% 69.80% Risk free interest rate 1.65% 1.54% Expected dividend yield 0% 0% Accounts Receivable Accounts receivable represents amounts owed to the Company from product sales and services. The Company had no amounts reserved for doubtful accounts at November 30, 2015 and August 31, 2015 as the Company expects full collection of the accounts receivable balances. Inventories When inventory costs exceed expected market value due to obsolescence or lack of demand, inventory write-downs are recorded for the difference between the cost and the market value in the period based on the Company’s evaluation of such inventory with any excess cost recognized during the period within cost of product sales. All inventory at November 30, 2014 and August 31, 2015, respectively was recorded at net realizable value of $ 0 Property and Equipment Property and equipment is stated at cost. Depreciation is provided using the straight-line method over the shorter of the estimated useful lives or the remaining life of the lease. Depreciation periods for the Company’s property and equipment are as follows: Automobiles and trucks 3-5 years Office, laboratory, farm and warehouse equipment and furniture 3-5 years Leasehold improvements 3-10 years Buildings 14-39 years Impairment of Long-Lived Assets Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. To the extent that an impairment indicator has occurred, recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. For the reporting periods presented herein there was no impairment. At August 31, 2015, there was approximately $ 700 Foreign Currency Translation The Brazilian Real is the functional currency of the Company’s subsidiary in Brazil. Accordingly, assets and liabilities of those operations are translated into United States dollars using the current exchange rate in effect at the balance sheet date and equity accounts are translated into United States dollars using historical rates. Revenues and expenses are translated at the weighted average rate of exchange during the reporting period. Gains and losses from foreign currency translation adjustments are represented as a component of accumulated other comprehensive loss within the Company’s condensed consolidated balance sheets. Accumulated Other Comprehensive Loss The Company’s unrealized gains and losses on available-for-sale securities and foreign currency translation adjustments represents the components of comprehensive loss and have been disclosed in the condensed consolidated balance sheets. The following summarizes the changes in the balances of each component of accumulated other comprehensive loss during the three months ended November 30, 2015: Foreign Currency Translation Balance at August 31, 2015 $ 762 Comprehensive gain 30 Balance at November 30, 2015 $ 792 Basic and Diluted Net Loss Per Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing net loss by the weighted average number of common shares and dilutive potential common share equivalents then outstanding, to the extent they are dilutive. Potential common shares consist of shares issuable upon the exercise of stock options and warrants (using the treasury stock method). Dilutive net loss per share is the same as basic net loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive. The following potentially dilutive, common share equivalents were excluded from the calculation of diluted net loss per common share because their effect was antidilutive for each of the periods presented: November 30, 2015 2014 Options to purchase common stock 390,215 420,509 Warrants to purchase common stock 2,775,083 260,255 Total 3,165,298 680,764 |
Property and Equipment
Property and Equipment | 3 Months Ended |
Nov. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | (3) Property and Equipment November 30, August 31, 2015 2015 Land $ 43 $ 43 Automobiles and trucks 44 44 Buildings 1,215 1,215 Office, laboratory, farm and warehouse equipment and furniture 10,863 10,863 Leasehold improvements 5,659 5,659 17,824 17,824 Less accumulated depreciation and amortization (16,628) (16,566) Property and equipment, net $ 1,196 $ 1,258 |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 3 Months Ended |
Nov. 30, 2015 | |
Accounts Payable and Accrued Liabilities [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | (4) Accounts Payable and Accrued Expenses November 30, August 31, 2015 2015 Accounts payable $ 2,014 $ 2,000 Accrued payroll and related expenses 1,039 1,581 Research and development contracts 174 283 Taxes 389 395 Other 210 143 $ 3,826 $ 4,402 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Nov. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | (5) Stock-Based Compensation Stock Option and Stock Issuance Plans The Company has established three equity plans: the Ceres, Inc. 2000 Stock Option/Stock Issuance Plan (2000 Plan), the Ceres, Inc. 2010 Stock Option/Stock Issuance Plan (2010 Plan) and the Amended and Restated Ceres, Inc. 2011 Equity Incentive Plan (2011 Plan, and collectively with the 2000 Plan and the 2010 Plan, Equity Plans). The Equity Plans provide for grants of Incentive Stock Options (ISOs) to employees and Nonqualified Stock Options (NSOs), stock and restricted stock to employees, directors, and consultants. In addition, the 2011 Plan provides for the grant of other equity based awards such as restricted stock units, stock appreciation rights and deferred stock to employees, directors and consultants. The option term, as determined by the Company’s Board of Directors, may not exceed ten years. Vesting, also determined by the Company’s Board of Directors, generally occurs ratably over four to five years. ISOs and NSOs may be granted at a price per share not less than the fair market value at the date of grant. Three months ended November 30, 2015 2014 Stock-based compensation expense $ 359 $ 619 Fair value changes of collaboration warrants (1) (4) $ 358 $ 615 There were no stock options exercised during the three months ended November 30, 2015 and 2014. Stock Option Activity Shares Weighted Options outstanding at August 31, 2015 409,763 $ 43.87 Options granted 250 1.11 Options forfeited (19,798) 24.96 Options outstanding at November 30, 2015 390,215 $ 44.80 No tax benefits have been recorded on compensation costs recognized for options exercised. As of November 30, 2015, there was $ 751 1.31 Restricted Stock Activity Shares Weighted Restricted stock outstanding and unvested at August 31, 2015 37,242 $ 25.17 Restricted stock vested (28,728) 18.45 Restricted stock forfeited (2,511) 19.10 Restricted stock outstanding and unvested at November 30, 2015 6,003 $ 52.55 As of November 30, 2015, there was $ 18 2.04 Stock Activity During the three months ended November 30, 2015, the Company granted 2,511 1.11 2.8 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Nov. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | (6) Stockholders’ Equity Common Stock On March 7, 2014, the Company held its 2014 Annual Meeting of Stockholders (Annual Meeting). At the Annual Meeting, the stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation which decreased the total number of shares of common stock of the Company from 490,000,000 240,000,000 Preferred Stock Pursuant to the Company’s amended and restated certificate of incorporation, the Company is authorized to issue 10,000,000 Warrants issued in connection with the July 30, 2015 registered public offering and concurrent private placement. On July 30, 2015 the Company issued warrants exercisable for one share of Common Stock for each share purchased in the July 30, 2015 offering for an aggregate of 1,200,000 1.62 569.3 1.65 70.2 5.16 0 The Company also issued warrants to purchase an aggregate of 24,000 1.944 10.0 1.65 71.6 4.7 0 Warrants issued in connection with the August 26, 2015 registered public offering and concurrent private placement. On August 26, 2015, the Company issued warrants exercisable for 0.75 1,198,859 1.22 645.9 1.65 70.2 5.2 0 The Company also issued warrants to purchase an aggregate of 31,970 1.83 13.5 1.65 70.2 4.7 0 In connections with the change in the fair value of liability classified warrants, the Company recorded a gain of $ 392 |
Income Taxes
Income Taxes | 3 Months Ended |
Nov. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | (7) Income Taxes No provision for U.S. income taxes has been made, net of the valuation allowance, with the exception of minimum statutory amounts, because the Company has incurred losses since its inception. The Company has deferred tax assets consisting primarily of net operating loss carryforwards that have been fully offset by a valuation allowance. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Nov. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | (8) Commitments and Contingencies The Company leases certain of its facilities and equipment under various noncancelable operating leases expiring through 2023 In connection with one of its facilities leases, the Company received a reimbursement for leasehold improvements of $ 270 42 Operating Leases Remaining nine months of fiscal year 2016 $ 143 2017 568 2018 618 2019 682 Total minimum lease payments $ 2,011 Legal Proceedings From time to time, we may be involved in litigation relating to claims arising out of our operations. Except as set forth in the immediately following two paragraphs, we are not currently a party to any material litigation or other material legal proceedings. We may, however, be involved in other material legal proceedings in the future. Such matters are subject to uncertainty and there can be no assurance that such legal proceedings will not have a material adverse effect on our business, results of operations, financial position or cash flows. A claim was filed against the Company on December 2, 2015 in the Labor Court of Itumbiara, Goias, Brazil by the estate of a deceased employee of the Company’s Brazilian subsidiary alleging that the employee’s death in an accident while driving a Company vehicle resulted from a lack of proper maintenance of such vehicle and the plaintiff is 3.8 1 A lawsuit was filed in Los Angeles Superior Court, Ventura County on December 3, 2015 by a former employee of the Company, asserting a number of claims. The lawsuit raises a number of allegations, including, among other things, disability discrimination, failure to provide reasonable accommodation, failure to engage in the interactive process, retaliation under California state laws, wrongful termination and several claims of violations under California wage-hour laws, including alleged failure to pay required minimum wage, overtime, meal and rest break payments and failure to provide accurate itemized wage statements. Ceres at this point in time believes that it has substantial defenses to each claim, intends to fully and appropriately investigate those claims and further intends to vigorously defend itself against the lawsuit. The Company has secured Employment Practices Liability Insurance (“EPLI”) which it believes will cover most if not all allegations set forth in the lawsuit and has tendered the matter to its EPLI carrier. The Company has determined that there is no probable, estimable liability related to the two cases disclosed above. Accordingly, the Company has not accrued any liability related to these cases. |
Research Collaboration Agreemen
Research Collaboration Agreements | 3 Months Ended |
Nov. 30, 2015 | |
Research Collaboration Agreements [Abstract] | |
Collaborative And License Arrangement Disclosure [Text Block] | (9) Research Collaboration Agreements The Company has a number of research agreements with academic collaborators, including among others, TAMU, Noble, and the Institute of Crop Sciences of the Chinese Academy of Agricultural Sciences. In connection with these agreements, the Company receives certain exclusive options or licensing rights to technology and intellectual property developed under these agreements. The Company expenses amounts under these agreements to research and development expense in the period in which the services are rendered. The Company also licenses technology from third parties. Where required, initial Future minimum payments under the Company’s research collaboration agreements as of November 30, 2015 are as follows: Remaining nine months of fiscal year 2016 $ 427 2017 50 $ 477 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Nov. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | (10) Subsequent Events On December 17, 2015, the Company completed a public offering consisting of (1) the issuance of an aggregate of 2,905,000 2,905,000 2,305,000 0.01 0.40 6,460 1,000 16,150,000 16,150,000 5,200 6,400 On January 12 2016 10 20 April 5, 2017 |
Summary of Significant Accoun17
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Nov. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying interim condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (GAAP) and with the instructions for Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and notes required for complete financial statements. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Form 10-K for the fiscal year ended August 31, 2015 filed with the Securities and Exchange Commission (SEC) on November 23, 2015. The accompanying interim condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The accompanying interim condensed consolidated financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair presentation of the results of operations for the periods presented. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In preparing the unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include the valuation of property and equipment, common stock and stock options. Actual results could differ from those estimates. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Assets and liabilities recorded at fair value in the condensed consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels that are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 inputs are unobservable inputs for the asset or liability. The following tables present the Company’s financial assets that were measured at fair value on a recurring basis as of November 30, 2015 and August 31, 2015 by level within the fair value hierarchy: November 30, 2015 Level 1 Level 2 Level 3 Total Financial Assets Money market funds $ 1,732 $ $ $ 1,732 Certificates of deposit available for sale 60 60 Total $ 1,732 $ 60 $ $ 1,792 All of the money market funds and certificates of deposit are included in cash and cash equivalents on the condensed consolidated balance sheets. August 31, 2015 Level 1 Level 2 Level 3 Total Financial Assets Money market funds $ 3,732 $ $ $ 3,732 Certificates of deposit available for sale 60 60 Total $ 3,732 $ 60 $ $ 3,792 All of the money market funds and certificates of deposit are included in cash and cash equivalents on the condensed consolidated balance sheets. |
Financial Liabilities [Policy Text Block] | Financial Liabilities Certain common stock warrants have been classified as liabilities due to some features which could enable the holder to receive cash. The Company utilizes an option pricing valuation model to determine the fair value of its outstanding common stock warrant liabilities. The inputs to the model include fair value of the stock related to the warrant, exercise price of the warrant, expected term, expected volatility, risk-free interest rate and dividend yield. As several significant inputs are not observable, the overall fair value measurement of the common stock warrants are classified as Level 3. The fair value of the Company’s common stock warrant liabilities were $ 1,239 1,631 Three Months Ended November 30, 2015 Year Ended August 31, 2015 Expected term (in years) 4.66 - 5.24 4.91 - 5.49 Expected volatility 70.20% - 71.60% 69.80% Risk free interest rate 1.65% 1.54% Expected dividend yield 0% 0% |
Receivables, Policy [Policy Text Block] | Accounts Receivable Accounts receivable represents amounts owed to the Company from product sales and services. The Company had no amounts reserved for doubtful accounts at November 30, 2015 and August 31, 2015 as the Company expects full collection of the accounts receivable balances. |
Inventory, Policy [Policy Text Block] | Inventories When inventory costs exceed expected market value due to obsolescence or lack of demand, inventory write-downs are recorded for the difference between the cost and the market value in the period based on the Company’s evaluation of such inventory with any excess cost recognized during the period within cost of product sales. All inventory at November 30, 2014 and August 31, 2015, respectively was recorded at net realizable value of $ 0 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment is stated at cost. Depreciation is provided using the straight-line method over the shorter of the estimated useful lives or the remaining life of the lease. Depreciation periods for the Company’s property and equipment are as follows: Automobiles and trucks 3-5 years Office, laboratory, farm and warehouse equipment and furniture 3-5 years Leasehold improvements 3-10 years Buildings 14-39 years |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. To the extent that an impairment indicator has occurred, recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. For the reporting periods presented herein there was no impairment. |
Restructuring [Policy Text Block] | Restructuring At August 31, 2015, there was approximately $ 700 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation The Brazilian Real is the functional currency of the Company’s subsidiary in Brazil. Accordingly, assets and liabilities of those operations are translated into United States dollars using the current exchange rate in effect at the balance sheet date and equity accounts are translated into United States dollars using historical rates. Revenues and expenses are translated at the weighted average rate of exchange during the reporting period. Gains and losses from foreign currency translation adjustments are represented as a component of accumulated other comprehensive loss within the Company’s condensed consolidated balance sheets. |
Accumulated Other Comprehensive Income [Policy Text Block] | Accumulated Other Comprehensive Loss The Company’s unrealized gains and losses on available-for-sale securities and foreign currency translation adjustments represents the components of comprehensive loss and have been disclosed in the condensed consolidated balance sheets. The following summarizes the changes in the balances of each component of accumulated other comprehensive loss during the three months ended November 30, 2015: Foreign Currency Translation Balance at August 31, 2015 $ 762 Comprehensive gain 30 Balance at November 30, 2015 $ 792 |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Net Loss Per Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing net loss by the weighted average number of common shares and dilutive potential common share equivalents then outstanding, to the extent they are dilutive. Potential common shares consist of shares issuable upon the exercise of stock options and warrants (using the treasury stock method). Dilutive net loss per share is the same as basic net loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive. The following potentially dilutive, common share equivalents were excluded from the calculation of diluted net loss per common share because their effect was antidilutive for each of the periods presented: November 30, 2015 2014 Options to purchase common stock 390,215 420,509 Warrants to purchase common stock 2,775,083 260,255 Total 3,165,298 680,764 |
Summary of Significant Accoun18
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Nov. 30, 2015 | |
Accounting Policies [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following tables present the Company’s financial assets that were measured at fair value on a recurring basis as of November 30, 2015 and August 31, 2015 by level within the fair value hierarchy: November 30, 2015 Level 1 Level 2 Level 3 Total Financial Assets Money market funds $ 1,732 $ $ $ 1,732 Certificates of deposit available for sale 60 60 Total $ 1,732 $ 60 $ $ 1,792 All of the money market funds and certificates of deposit are included in cash and cash equivalents on the condensed consolidated balance sheets. August 31, 2015 Level 1 Level 2 Level 3 Total Financial Assets Money market funds $ 3,732 $ $ $ 3,732 Certificates of deposit available for sale 60 60 Total $ 3,732 $ 60 $ $ 3,792 All of the money market funds and certificates of deposit are included in cash and cash equivalents on the condensed consolidated balance sheets. |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | The fair value of the common stock warrant liabilities at November 30, 2015 and August 31, 2015 were estimated using the following weighted-average assumptions: Three Months Ended November 30, 2015 Year Ended August 31, 2015 Expected term (in years) 4.66 - 5.24 4.91 - 5.49 Expected volatility 70.20% - 71.60% 69.80% Risk free interest rate 1.65% 1.54% Expected dividend yield 0% 0% |
Property And Equipment Estimated Useful Lives [Table Text Block] | Property and equipment is stated at cost. Depreciation is provided using the straight-line method over the shorter of the estimated useful lives or the remaining life of the lease. Depreciation periods for the Company’s property and equipment are as follows: Automobiles and trucks 3-5 years Office, laboratory, farm and warehouse equipment and furniture 3-5 years Leasehold improvements 3-10 years Buildings 14-39 years |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following summarizes the changes in the balances of each component of accumulated other comprehensive loss during the three months ended November 30, 2015: Foreign Currency Translation Balance at August 31, 2015 $ 762 Comprehensive gain 30 Balance at November 30, 2015 $ 792 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The following potentially dilutive, common share equivalents were excluded from the calculation of diluted net loss per common share because their effect was antidilutive for each of the periods presented: November 30, 2015 2014 Options to purchase common stock 390,215 420,509 Warrants to purchase common stock 2,775,083 260,255 Total 3,165,298 680,764 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 3 Months Ended |
Nov. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property and equipment are summarized as follows: November 30, August 31, 2015 2015 Land $ 43 $ 43 Automobiles and trucks 44 44 Buildings 1,215 1,215 Office, laboratory, farm and warehouse equipment and furniture 10,863 10,863 Leasehold improvements 5,659 5,659 17,824 17,824 Less accumulated depreciation and amortization (16,628) (16,566) Property and equipment, net $ 1,196 $ 1,258 |
Accounts Payable and Accrued 20
Accounts Payable and Accrued Expenses (Tables) | 3 Months Ended |
Nov. 30, 2015 | |
Accounts Payable and Accrued Liabilities [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | Accounts payable and accrued expenses consisted of the following: November 30, August 31, 2015 2015 Accounts payable $ 2,014 $ 2,000 Accrued payroll and related expenses 1,039 1,581 Research and development contracts 174 283 Taxes 389 395 Other 210 143 $ 3,826 $ 4,402 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Nov. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Stock-based compensation expense included in operating expenses are as follows: Three months ended November 30, 2015 2014 Stock-based compensation expense $ 359 $ 619 Fair value changes of collaboration warrants (1) (4) $ 358 $ 615 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes the stock option transactions under the Equity Plans during the three months ended November 30, 2015: Shares Weighted Options outstanding at August 31, 2015 409,763 $ 43.87 Options granted 250 1.11 Options forfeited (19,798) 24.96 Options outstanding at November 30, 2015 390,215 $ 44.80 |
Schedule of Nonvested Share Activity [Table Text Block] | The following summarizes the restricted stock transactions under the Equity Plans during the three months ended November 30, 2015: Shares Weighted Restricted stock outstanding and unvested at August 31, 2015 37,242 $ 25.17 Restricted stock vested (28,728) 18.45 Restricted stock forfeited (2,511) 19.10 Restricted stock outstanding and unvested at November 30, 2015 6,003 $ 52.55 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Nov. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum payments under noncancelable operating leases as of November 30, 2015 are as follows: Operating Leases Remaining nine months of fiscal year 2016 $ 143 2017 568 2018 618 2019 682 Total minimum lease payments $ 2,011 |
Research Collaboration Agreem23
Research Collaboration Agreements (Tables) | 3 Months Ended |
Nov. 30, 2015 | |
Research Collaboration Agreements [Abstract] | |
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | Future minimum payments under the Company’s research collaboration agreements as of November 30, 2015 are as follows: Remaining nine months of fiscal year 2016 $ 427 2017 50 $ 477 |
The Company (Details Textual)
The Company (Details Textual) $ in Thousands | 1 Months Ended | 3 Months Ended | |||
Dec. 17, 2015USD ($) | Nov. 30, 2015USD ($) | Aug. 31, 2015USD ($) | Nov. 30, 2014USD ($) | Aug. 31, 2014USD ($) | |
Accounting Policies [Line Items] | |||||
Retained Earnings (Accumulated Deficit), Total | $ (335,480) | $ (332,061) | |||
Cash and Cash Equivalents, at Carrying Value, Total | $ 3,438 | $ 8,095 | $ 4,254 | $ 3,423 | |
Subsequent Event [Member] | |||||
Accounting Policies [Line Items] | |||||
Proceeds from Issuance Initial Public Offering | $ 6,400 | ||||
Ceres Sementes Do Brasil Ltda [Member] | |||||
Accounting Policies [Line Items] | |||||
Percentage Of Ownership In Subsidiaries | 99.9 | ||||
CS Semillas De Mexico S de L de Cv [Member] | |||||
Accounting Policies [Line Items] | |||||
Percentage Of Ownership In Subsidiaries | 99.9 |
Summary of Significant Accoun25
Summary of Significant Accounting Policies (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Nov. 30, 2015 | Aug. 31, 2015 |
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Total | $ 1,792 | $ 3,792 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Total | 1,732 | 3,732 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Total | 60 | 60 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Total | 0 | 0 |
Money Market Funds [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Money market funds | 1,732 | 3,732 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Money market funds | 1,732 | 3,732 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Money market funds | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Money market funds | 0 | 0 |
Certificates of Deposit [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Available for sale | 60 | 60 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Available for sale | 0 | 0 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Available for sale | 60 | 60 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Instruments Measured at Fair Value On Recurring Basis [Line Items] | ||
Available for sale | $ 0 | $ 0 |
Summary of Significant Accoun26
Summary of Significant Accounting Policies (Details 1) - Common Stock Warrant [Member] | 3 Months Ended | 12 Months Ended |
Nov. 30, 2015 | Aug. 31, 2015 | |
Accounting Policies [Line Items] | ||
Expected volatility | 69.80% | |
Risk free interest rate | 1.65% | 1.54% |
Expected dividend yield | 0.00% | 0.00% |
Maximum [Member] | ||
Accounting Policies [Line Items] | ||
Expected term (in years) | 5 years 2 months 26 days | 5 years 5 months 26 days |
Expected volatility | 71.60% | |
Minimum [Member] | ||
Accounting Policies [Line Items] | ||
Expected term (in years) | 4 years 7 months 28 days | 4 years 10 months 28 days |
Expected volatility | 70.20% |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Details 2) | 3 Months Ended |
Nov. 30, 2015 | |
Minimum [Member] | Automobiles and Trucks [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Minimum [Member] | Office Laboratory Farm And Warehouse Equipment And Furniture [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Minimum [Member] | Leasehold Improvements [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Minimum [Member] | Building [Member] | |
Property, Plant and Equipment, Useful Life | 14 years |
Maximum [Member] | Automobiles and Trucks [Member] | |
Property, Plant and Equipment, Useful Life | 5 years |
Maximum [Member] | Office Laboratory Farm And Warehouse Equipment And Furniture [Member] | |
Property, Plant and Equipment, Useful Life | 5 years |
Maximum [Member] | Leasehold Improvements [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Maximum [Member] | Building [Member] | |
Property, Plant and Equipment, Useful Life | 39 years |
Summary of Significant Accoun28
Summary of Significant Accounting Policies (Details 3) $ in Thousands | 3 Months Ended |
Nov. 30, 2015USD ($) | |
Balance | $ 762 |
Balance | 792 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |
Balance | 792 |
Comprehensive gain | 30 |
Balance | $ 762 |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Details 4) - shares | 3 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,165,298 | 680,764 |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 390,215 | 420,509 |
Common Stock Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,775,083 | 260,255 |
Summary of Significant Accoun30
Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Aug. 31, 2015 | Nov. 30, 2015 | |
Warrants and Rights Outstanding | $ 1,631 | $ 1,239 |
Inventory, Net, Total | 0 | $ 0 |
Restructuring Costs, Total | $ 700 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | Nov. 30, 2015 | Aug. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 17,824 | $ 17,824 |
Less accumulated depreciation and amortization | (16,628) | (16,566) |
Property and equipment, net | 1,196 | 1,258 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 43 | 43 |
Automobiles and Trucks [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 44 | 44 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 1,215 | 1,215 |
Office Laboratory Farm And Warehouse Equipment And Furniture [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 10,863 | 10,863 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 5,659 | $ 5,659 |
Accounts Payable and Accrued 32
Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands | Nov. 30, 2015 | Aug. 31, 2015 |
Accounts Payable and Accrued Expenses [Line Items] | ||
Accounts payable | $ 2,014 | $ 2,000 |
Accrued payroll and related expenses | 1,039 | 1,581 |
Research and development contracts | 174 | 283 |
Taxes | 389 | 395 |
Other | 210 | 143 |
Accounts Payable and Accrued Liabilities, Current, Total | $ 3,826 | $ 4,402 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation, Total | $ 358 | $ 615 |
Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation, Total | 359 | 619 |
Warrant [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation, Total | $ (1) | $ (4) |
Stock-Based Compensation (Det34
Stock-Based Compensation (Details 1) - Employee Stock Option [Member] | 3 Months Ended |
Nov. 30, 2015$ / sharesshares | |
Shares | |
Options outstanding | shares | 409,763 |
Options granted | shares | 250 |
Options forfeited | shares | (19,798) |
Options outstanding | shares | 390,215 |
Weighted Average Exercise Price | |
Options outstanding | $ / shares | $ 43.87 |
Options granted | $ / shares | 1.11 |
Options forfeited | $ / shares | 24.96 |
Options outstanding | $ / shares | $ 44.80 |
Stock-Based Compensation (Det35
Stock-Based Compensation (Details 2) - Restricted Stock [Member] | 3 Months Ended |
Nov. 30, 2015$ / sharesshares | |
Shares | |
Restricted stock outstanding and unvested | shares | 37,242 |
Restricted stock vested | shares | (28,728) |
Restricted stock forfeited | shares | (2,511) |
Restricted stock outstanding and unvested | shares | 6,003 |
Weighted Average Grant Date Fair Value | |
Restricted stock outstanding and unvested | $ / shares | $ 25.17 |
Restricted stock vested | $ / shares | 18.45 |
Restricted stock forfeited | $ / shares | 19.1 |
Restricted stock outstanding and unvested | $ / shares | $ 52.55 |
Stock-Based Compensation (Det36
Stock-Based Compensation (Details Textual) | 3 Months Ended |
Nov. 30, 2015USD ($)$ / sharesshares | |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 18,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 14 days |
Employee Stock Option [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 751,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 3 months 22 days |
Equity Incentive Plan Twenty Eleven [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share Price | $ / shares | $ 1.11 |
Stock Issued During Period, Shares, Share-based Compensation, Gross | shares | 2,511 |
Allocated Share-based Compensation Expense | $ 2,800 |
Stockholders' Equity (Details T
Stockholders' Equity (Details Textual) - USD ($) | 3 Months Ended | |||||
Nov. 30, 2015 | Nov. 30, 2014 | Aug. 31, 2015 | Aug. 26, 2015 | Jul. 30, 2015 | Mar. 07, 2014 | |
Stockholders Equity Note Disclosure [Line Items] | ||||||
Common Stock, Shares Authorized | 240,000,000 | 240,000,000 | 490,000,000 | |||
Preferred Stock, Shares Authorized | 10,000,000 | |||||
Other Operating Income (Expense), Net | $ 393,000 | $ 0 | ||||
July 2015 Public Offering Warrants [Member] | ||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,200,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.62 | |||||
Fair Value Of Warrants Issued | $ 569,300 | |||||
Fair Value Assumptions, Risk Free Interest Rate | 1.65% | |||||
Fair Value Assumptions, Expected Volatility Rate | 70.20% | |||||
Fair Value Assumptions, Expected Term | 5 years 1 month 28 days | |||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||
July 2015 Placement Agent Warrants [Member] | ||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 24,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.944 | |||||
Fair Value Of Warrants Issued | $ 10,000 | |||||
Fair Value Assumptions, Risk Free Interest Rate | 1.65% | |||||
Fair Value Assumptions, Expected Volatility Rate | 71.60% | |||||
Fair Value Assumptions, Expected Term | 4 years 8 months 12 days | |||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||
August 2015 Public Offering Warrants [Member] | ||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,198,859 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.22 | |||||
Fair Value Of Warrants Issued | $ 645,900 | |||||
Fair Value Assumptions, Risk Free Interest Rate | 1.65% | |||||
Fair Value Assumptions, Expected Volatility Rate | 70.20% | |||||
Fair Value Assumptions, Expected Term | 5 years 2 months 12 days | |||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.75 | |||||
August 2015 Placement Agent Warrants [Member] | ||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 31,970 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.83 | |||||
Fair Value Of Warrants Issued | $ 13,500 | |||||
Fair Value Assumptions, Risk Free Interest Rate | 1.65% | |||||
Fair Value Assumptions, Expected Volatility Rate | 70.20% | |||||
Fair Value Assumptions, Expected Term | 4 years 8 months 12 days | |||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Commitments and Contingencies38
Commitments and Contingencies (Details) $ in Thousands | Nov. 30, 2015USD ($) |
Operating Leased Assets [Line Items] | |
Remaining nine months of fiscal year 2016 | $ 143 |
2,017 | 568 |
2,018 | 618 |
2,019 | 682 |
Total minimum lease payments | $ 2,011 |
Commitments and Contingencies39
Commitments and Contingencies (Details Textual) $ in Thousands, BRL in Millions | 3 Months Ended | |
Nov. 30, 2015USD ($) | Nov. 30, 2015BRL | |
Operating Leases Expiration Year | 2,023 | 2,023 |
Leasehold Improvements Reimbursed By Lessors As Lease Incentives | $ 270 | |
Operating Leases, Rent Expense, Net, Total | 42 | |
Loss Contingency, Damages Sought, Value | $ 1,000 | BRL 3.8 |
Research Collaboration Agreem40
Research Collaboration Agreements (Details) - Research Collaboration Agreements [Member] $ in Thousands | Nov. 30, 2015USD ($) |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |
Remaining nine months of fiscal year 2016 | $ 427 |
2,017 | 50 |
Contractual Obligation, Total | $ 477 |
Subsequent Events (Details Text
Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | ||
Dec. 17, 2015 | Nov. 30, 2015 | Aug. 31, 2015 | |
Subsequent Event [Line Items] | |||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Offering Price | $ 0.40 | ||
Warrants To Purchase Common Stock Shares | 16,150,000 | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | ||
Preferred Stock, Shares Issued | 6,460 | ||
Preferred Stock, Value, Issued | $ 1,000 | ||
Conversion of Stock, Shares Converted | 16,150,000 | ||
Fair Value Adjustment of Warrants | $ 5,200 | ||
Proceeds from Issuance Initial Public Offering | $ 6,400 | ||
Subsequent Event [Member] | Over-Allotment Option [Member] | |||
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 2,305,000 | ||
Subsequent Event [Member] | Common Stock [Member] | |||
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, Other | 2,905,000 | ||
Subsequent Event [Member] | Warrant [Member] | |||
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, Other | 2,905,000 |