Note 4 - Commitments and Contingencies

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

4. Commitments and Contingencies

Future minimum payments required under operating leases as of

June 30, 2018

are summarized as follows (in thousands):

Year Ending December 31:	Amount
2018		138
2019		207
Total minimum lease payments	$	345

In addition to the base rent, the Company is also responsible for its share of operating expenses and real estate taxes, in accordance with the terms of the lease agreement. As of

June 30, 2018,

the Company has provided a security deposit in the amount of

$22,000

to the lessor.

Restricted cash related to facilities leases

As of

June 30, 2018

and

December 31, 2017,

the Company had

$22,000

in an outstanding letter of credit to be used as collateral for leased premises. As of

June 30, 2018

and

December 31, 2017,

the Company pledged an aggregate of

$22,000

to the bank as collateral for the letter of credit, which is included in other non-current assets.