bcda20170630

Large accelerated filer

Accelerated filer

Non-accelerated filer

☐ (Do not check if a smaller reporting company)

Smaller reporting company

Emerging growth company

0001437749-17-014692.txt : 20170814 0001437749-17-014692.hdr.sgml : 20170814 20170814151554 ACCESSION NUMBER: 0001437749-17-014692 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 62 CONFORMED PERIOD OF REPORT: 20170630 FILED AS OF DATE: 20170814 DATE AS OF CHANGE: 20170814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BioCardia, Inc. CENTRAL INDEX KEY: 0000925741 STANDARD INDUSTRIAL CLASSIFICATION: ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842] IRS NUMBER: 232753988 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-21419 FILM NUMBER: 171029629 BUSINESS ADDRESS: STREET 1: 125 SHOREWAY ROAD STREET 2: SUITE B CITY: SAN CARLOS STATE: CA ZIP: 94070 BUSINESS PHONE: 650-226-0123 MAIL ADDRESS: STREET 1: 125 SHOREWAY ROAD STREET 2: SUITE B CITY: SAN CARLOS STATE: CA ZIP: 94070 FORMER COMPANY: FORMER CONFORMED NAME: Tiger X Medical, Inc. DATE OF NAME CHANGE: 20110616 FORMER COMPANY: FORMER CONFORMED NAME: Cardo Medical, Inc. DATE OF NAME CHANGE: 20081027 FORMER COMPANY: FORMER CONFORMED NAME: CLICKNSETTLE COM INC DATE OF NAME CHANGE: 20000823 10-Q 1 bcda20170630_10q.htm FORM 10-Q bcda20170630_10q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2017

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 0-21419

BioCardia, Inc.

(Exact name of registrant as specified in its charter)

Delaware

23-2753988

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification Number)

125 Shoreway Road, Suite B

San Carlos, California 94070

(Address of principal executive offices including zip code)

(650) 226-0120

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

There were 457,818,571 shares of the registrant’s Common Stock issued and outstanding as of August 14, 2017.

Part I. FINANCIAL INFORMATION		1

Item 1.	Unaudited Condensed Consolidated Financial Statements	1
	Condensed Consolidated Balance Sheets as of June 30, 2017 and December 31, 2016	1
	Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2017 and 2016	2
	Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2017 and 2016	3
	Notes to Unaudited Condensed Consolidated Financial Statements	4
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	18
Item 4.	Controls and Procedures	18

Part II. OTHER INFORMATION		19

Item 1.	Legal Proceedings	19
Item 1A.	Risk Factors	19
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	19
Item 3.	Defaults Upon Senior Securities	19
Item 4.	Mine Safety Disclosures	19
Item 5.	Other Information	19
Item 6.	Exhibits	19

SIGNATURES		20
EXHIBIT INDEX		21

FORWARD-LOOKING INFORMATION

This report contains forward-looking statements within the meaning of the U.S. federal securities laws that involve risks and uncertainties. Certain statements contained in this report are not purely historical including, without limitation, statements regarding our expectations, beliefs, intentions, anticipations, commitments or strategies regarding the future that are forward-looking. These statements include those discussed in Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations, including “Critical Accounting Policies and Estimates,” “Results of Operations,” “Liquidity and Capital Resources,” and “Future Funding Requirements,” and elsewhere in this report.

In this report, the words “may,” “could,” “would,” “might,” “will,” “should,” “plan,” “ forecast,” “anticipate,” “believe,” “expect,” “intend,” “estimate,” “predict,” “potential,” “continue,” “future,” “moving toward” or the negative of these terms or other similar expressions also identify forward-looking statements. Our actual results could differ materially from those forward-looking statements contained in this report as a result of a number of risk factors including, but not limited to, those listed in our Annual Report on Form 10-K and elsewhere in this report. You should carefully consider these risks, in addition to the other information in this report and in our other filings with the SEC. All forward-looking statements and reasons why results may differ included in this report are made as of the date of this report, and we undertake no obligation to update any such forward-looking statement or reason why such results might differ after the date of this Quarterly Report on Form 10-Q, except as required by law.

PART I. FINANCIAL INFORMATION

ITEM 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

BIOCARDIA, INC.

Condensed Consolidated Balance Sheets

(In thousands, except share and per share amounts)

	June 30, 2017			December 31, 2016
	(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	15,109		$	21,352
Accounts receivable, net of allowance for doubtful accounts of $1 and $2 at June 30, 2017 and December 31, 2016, respectively		142			74
Inventory		193			135
Short-term investments		1,796			—
Prepaid expenses		282			356
Total current assets		17,522			21,917
Property and equipment, net		180			111
Other assets		54			54
Total assets	$	17,756		$	22,082
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	590		$	525
Accrued expenses and other current liabilities		864			848
Deferred revenue		153			71
Total current liabilities		1,607			1,444
Deferred rent		68			56
Total liabilities		1,675			1,500
Stockholders’ equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding at June 30, 2017 and December 31, 2016		—			—
Common stock, $0.001 par value, 750,000,000 shares authorized at June 30, 2017 and December 31, 2016, 457,682,784 shares and 457,575,631 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively		458			458
Additional paid-in capital		81,586			80,266
Accumulated deficit		(65,963	)		(60,142	)
Total stockholders’ equity		16,081			20,582
Total liabilities and stockholders’ equity	$	17,756		$	22,082

See accompanying notes to condensed consolidated financial statements.

BIOCARDIA, INC.

Condensed Consolidated Statements of Operations

(In thousands, except share and per share amounts)

(unaudited)

	Three Months ended June 30,						Six Months ended June 30,
	2017			2016			2017			2016
Revenue:
Net product revenue	$	101		$	138		$	210		$	306
Collaboration agreement revenue		11			6			39			16
Total revenue		112			144			249			322
Costs and expenses:
Cost of goods sold		203			156			378			382
Research and development		1,295			497			2,328			938
Selling, general and administrative		1,582			869			3,386			1,456
Total costs and expenses		3,080			1,522			6,092			2,776
Operating loss		(2,968	)		(1,378	)		(5,843	)		(2,454	)
Other income (expense):
Interest income		23			—			23			—
Interest expense		—			(557	)		—			(1,107	)
Change in fair value of convertible preferred stock warrant liability		—			167			—			220
Change in fair value of maturity date preferred stock warrant liability		—			8			—			7
Change in fair value of convertible shareholder notes derivative liability		—			(217	)		—			(139	)
Other income (expense), net		—			(1	)		(1	)		(1	)
Total other income (expense), net		23			(600	)		22			(1,020	)
Net loss	$	(2,945	)	$	(1,978	)	$	(5,821	)	$	(3,474	)

Net loss per share, basic and diluted	$	(0.01	)	$	(0.11	)	$	(0.01	)	$	(0.19	)

Weighted-average shares used in computing net loss per share, basic and diluted		457,682,784			18,723,511			457,668,755			18,723,511

See accompanying notes to condensed consolidated financial statements.

BIOCARDIA, INC.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(unaudited)

	Six Months ended June 30,
	2017			2016
Operating activities:
Net loss	$	(5,821	)	$	(3,474	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		36			21
Change in fair value of convertible preferred stock warrant liability		—			(220	)
Change in fair value of maturity date preferred stock warrant liability		—			(7	)
Change in fair value of convertible shareholder notes derivative liability		—			139
Stock based compensation		1,298			58
Non-cash interest expense on convertible shareholder notes		—			1,107
Changes in operating assets and liabilities:
Accounts receivable		(68	)		22
Inventory		(58	)		18
Prepaid expenses		74			98
Accounts payable		60			185
Accrued expenses and other current liabilities, excluding accrued interest on convertible note		16			161
Deferred revenue		82			37
Deferred rent		12			(15	)
Net cash used in operating activities		(4,369	)		(1,870	)
Investing activities:
Purchase of property and equipment		(100	)		—
Purchase of short-term investments		(1,796	)		—
Net cash used in investing activities		(1,896	)		—
Financing activities:
Proceeds from the exercise of stock options		22			—
Net cash provided by financing activities		22			—
Net decrease in cash and cash equivalents		(6,243	)		(1,870	)
Cash and cash equivalents at beginning of period		21,352			3,557
Cash and cash equivalents at end of period	$	15,109		$	1,687

Supplemental disclosures for noncash investing activity:
Accounts payable recognized for the purchase of equipment	$	5		$	—

See accompanying notes to condensed consolidated financial statements.

(1)

Summary of Business and Basis of Presentation

(a)

Description of Business

BioCardia, Inc., or the Company, is a clinical-stage regenerative medicine company developing novel therapeutics for cardiovascular diseases with large unmet medical needs. Its lead therapeutic candidate is the CardiAMP cell therapy system and its second therapeutic candidate is the CardiALLO cell therapy system. To date the Company has devoted substantially all of its resources to research and development efforts relating to its therapeutic candidates and biotherapeutic delivery systems including conducting clinical trials, developing manufacturing and sales capabilities, in-licensing related intellectual property, providing general and administrative support for these operations and protecting its intellectual property.

The Company has three enabling device product lines: (1) the CardiAMP cell processing system; (2) the Helix biotherapeutic delivery system, or Helix; and (3) the Morph vascular access product line, or Morph. The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions.

(b)

Reverse Merger

On August 22, 2016, the Company, its wholly-owned subsidiary, Icicle Acquisition Corp, and BioCardia Lifesciences, Inc., or BioCardia Lifesciences (at the time named BioCardia, Inc.), entered into an Agreement and Plan of Merger, or the Merger Agreement. The transactions contemplated by the Merger Agreement closed on October 24, 2016, pursuant to which Icicle Acquisition Corp. merged with and into BioCardia Lifesciences, with BioCardia Lifesciences continuing as the surviving company, or the Merger. BioCardia Lifesciences was determined to be the accounting acquirer in the Merger based upon the terms of the Merger and other factors, including: (i) former BioCardia Lifesciences security holders owned approximately 54% of the combined company (on a fully diluted basis) immediately following the closing of the Merger, (ii) former BioCardia Lifesciences directors hold the majority of the board seats in the combined company, and (iii) former BioCardia Lifesciences management holds all of the key positions in the management of the combined company. Following the completion of the Merger, the Company changed its name to BioCardia, Inc.

Exchange Ratio

Pursuant to the Merger Agreement, each share of BioCardia Lifesciences common stock issued and outstanding prior to the Merger, including shares of common stock underlying outstanding preferred stock, convertible notes (which converted into common stock immediately prior to the Merger), and stock options were converted into the right to receive 19.3678009 shares of Company common stock, or the Exchange Ratio. The accompanying condensed consolidated financial statements and notes to the condensed consolidated financial statements give retroactive effect to the capital structure as a result of the Merger.

(2)

Significant Accounting Policies

(a)

Basis of Preparation

The accompanying condensed consolidated balance sheets, statements of operations, comprehensive loss and cash flows as of June 30, 2017 and for the three and six months ended June 30, 2017 and 2016 are unaudited. The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information and on a basis consistent with the annual financial statements and, in the opinion of management, reflect all adjustments which include only normal recurring adjustments, necessary to present fairly our financial position as of June 30, 2017, results of operations for the three and six months ended June 30, 2017 and 2016, and cash flows for the six months ended June 30, 2017 and 2016. The results for the three and six months ended June 30, 2017 are not necessarily indicative of the results to be expected for the year ending December 31, 2017 or for any other interim period or for any other future year.

These condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 30, 2017.

(b)

Liquidity

The Company has incurred net losses and negative cash flows from operations since its inception and had an accumulated deficit of $66 million as of June 30, 2017. Management expects operating losses and negative cash flows to continue through at least the next several years.

Based on management’s current plans, management believes cash and cash equivalents of $15.1 million and short-term investments of $1.8 million as of June 30, 2017 are sufficient to fund the Company into the third quarter of 2018. In order to continue to further the development of the Company’s lead therapeutic candidate, the CardiAMP cell therapy system, and the Company’s second therapeutic candidate, the CardiALLO cell therapy system, through and beyond Q3 2018, we will be required to raise additional capital. The Company plans to raise additional capital, potentially including debt and equity arrangements, to finance its future operations. If adequate funds are not available, the Company may be required to reduce operating expenses, delay or reduce the scope of its product development programs, obtain funds through arrangements with others that may require the Company to relinquish rights to certain of its technologies or products that the Company would otherwise seek to develop or commercialize itself, or cease operations. While the Company believes in the viability of its strategy to raise additional funds, there can be no assurances to that effect.

(c)

Use of Estimates

The preparation of the financial statements in accordance with U.S. GAAP requires Company management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Significant items subject to such estimates and assumptions include the useful lives of property and equipment; allowances for doubtful accounts and sales returns; inventory valuation; fair value of the convertible preferred stock warrant liability; fair value of the maturity date preferred stock warrant liability; fair value of the convertible shareholder notes derivative liability; and share-based compensation.

(d)

Principles of Consolidation

The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany accounts and transactions have been eliminated during the consolidation process.

(e)

Significant Accounting Policies

The Company’s significant accounting policies are described in Note 2 of the notes to the financial statements included in the Company’s 2016 Form 10-K. There have been no changes to those policies except as described below.

(f)

Investments

Short-term investments consist of debt securities classified as available-for-sale and have maturities greater than 90 days, but less than 365 days from the date of acquisition. All investments are carried at fair value based upon quoted market prices. Unrealized gains and losses on available-for-sale securities are excluded from earnings and are reported as a component of accumulated other comprehensive loss. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method and recorded in other income (expense), net on the accompanying unaudited condensed consolidated statements of operations. The Company periodically evaluates these investments for other-than-temporary impairment.

Premiums and discounts on debt securities are amortized or accreted over the life of the security as an adjustment to yield using the effective-interest method. Such amortization and accretion is reported as interest income (expense) in the statement of operations. Dividend and interest income are recognized when earned.

(g)

Recently Adopted Accounting Pronouncement

In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification in the statement of cash flows and forfeitures. The Company adopted ASU 2016-09 effective January 1, 2017.

The impact of adopting ASU 2016-09 resulted in the following:

●

We classified the excess income tax benefits from stock-based compensation arrangement as a discrete item within income tax expense, rather than recognizing such excess income tax benefits in additional paid-in capital. The adoption of this guidance had no material impact to our condensed consolidated financial statements due to a full valuation allowance recognized against our deferred tax assets.

●

We elected to recognize forfeitures as they occur. The cumulative effect adjustment as a result of the adoption of this guidance on a modified retrospective basis was insignificant.

●

We applied the change in classification of cash flows resulting from excess tax benefits and cash paid by us when directly withholding shares for tax-withholding purposes on a retrospective basis. The adoption of these provisions did not result in changes in our condensed consolidated statements of cash flow.

There were no other material impacts to our condensed consolidated financial statements as a result of adopting this updated standard.

(g)

Recently Issued Accounting Pronouncements

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which provides comprehensive guidance for revenue recognition. ASU 2014-09 affects any entity which either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets. The core principle of the guidance provides that a company should recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, qualitative and quantitative disclosures are required about customer contracts, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application in retained earnings.

In August 2015, the FASB issued ASU 2015-14 Revenue from Contracts with Customers, which deferred the effective date for implementation of the standard. Public entities are to apply the new standard for annual and interim reporting periods beginning after December 15, 2017 and earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company has not elected early adoption. The Company has formed a task force that is in process of assessing the Company’s customer contracts and the potential impacts the standard may have on previously reported revenues and future revenues. Given the relatively small volume of revenue arrangements, the Company believes that the analysis will be completed in sufficient time to adopt the new standard when required. The Company expects to elect the cumulative effect adoption method.

In February 2016, the FASB issued ASU 2016-02 Leases (Topic 842), which supersedes existing guidance on accounting for leases in “Leases (Topic 840)” and generally requires all leases to be recognized in the consolidated balance sheet. ASU 2016-02 is effective for annual and interim reporting periods beginning after December 15, 2018; early adoption is permitted. The Company does not plan to elect early adoption. The provisions of ASU 2016-02 are to be applied using a modified retrospective approach. The Company is currently assessing the future impact of this ASU on its consolidated financial statements.

In May 2017, the FASB issued ASU 2017-09 Compensation – Stock Compensation (Topic 718) Scope of Modification Accounting. The amendments in ASU 2017-09 provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The adoption of ASU 2017-09, which will become effective for annual periods beginning after December 15, 2017, is not expected to have a material impact on the Company’s consolidated financial statements.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, and the American Institute of Certified Public Accountants did not or are not believed by management to have a material impact on the Company’s financial statement presentation or disclosures.

(3)

Fair Value Measurement

The fair value of financial instruments reflects the amounts that the Company estimates to receive in connection with the sale of an asset or paid in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The Company follows a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three levels:

Level 1 – quoted prices in active markets for identical assets and liabilities

Level 2 – observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities

Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company’s money market instruments are classified as Level 2 because they are valued using observable inputs other than quoted market prices. The Company’s marketable securities consist of available-for-sale securities and are classified as Level 2 because their value is based on valuation using significant inputs derived from or corroborated by observable market data.

The following table sets forth the fair value of our financial assets measured on a recurring basis as of June 30, 2017 and indicates the fair value hierarchy utilized to determine such fair value (in thousands).

	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash	$	3,901	$	—	$	—	$	3,901
Money market instruments		—		8,711		—		8,711
US government securities		—		649		—		649
US government agency securities		—		1,848		—		1,848
Total cash and cash equivalents	$	3,901	$	11,208	$	—	$	15,109

Marketable securities:
US government securities		—		1,796		—		1,796
Total marketable securities	$	—	$	1,796	$	—	$	1,796

The following table sets forth the fair value of our financial assets measured on a recurring basis as of December 31, 2016 and indicates the fair value hierarchy utilized to determine such fair value (in thousands).

	Level 1		Level 2		Level 3		Total
Assets:
Cash	$	21,352	$	—	$	—	$	21,352

As discussed in Note 8, in 2015, the Company issued warrants to purchase preferred stock in connection with the note agreements to various shareholders as described below. The warrant liabilities were recorded at the fair value on the date of issuance and were remeasured each subsequent balance sheet date and as of the warrant exercise date, with fair value changes recognized as income (decrease in fair value) or expense (increase in fair value) in other income (expense) in the consolidated statements of operations. No warrants are outstanding as of June 30, 2017.

In May 2015, the Company entered into note agreements with various stockholders of the Company and other lenders for a total of $7.2 million, or the 2015 Notes. As discussed more fully in Note 8, the 2015 Notes include embedded derivative features that were determined to be a compound embedded derivative requiring bifurcation and separate accounting at estimated fair value. The Company estimated the fair value of the compound embedded derivative utilizing a Monte Carlo simulation model from inception through June 30, 2016. The inputs used to determine the estimated fair value of the compound embedded derivative instrument include the probability of an underlying event triggering the redemption event and its timing prior to the maturity date of the 2015 Notes. The fair value measurement is based upon significant inputs not observable in the market. These assumptions are inherently subjective and involve significant management judgment. Upon the completion of the Merger, the valuation of the compound embedded derivative was determined based on the settlement value of the common stock exchanged for the notes on October 24, 2016. No notes are outstanding as of June 30, 2017.

(4)	Investments

The following table summarizes the estimated value of the Company’s cash equivalents and marketable securities and the gross unrealized gains and losses as of June 30, 2017 (in thousands):

	Amortized cost		Unrealized gain		Unrealized loss		Estimated Fair Value
US government securities	$	1,796	$	—	$	—	$	1,796
Total marketable securities	$	1,796	$	—	$	—	$	1,796

As of June 30, 2017, the contractual maturity of the available-for-sale marketable securities is less than one year. There was no other-than-temporary impairment recognized during the 6 months ended June 30, 2017.

(5)	Inventories

Inventories are stated at the lower of cost or net realizable value using the average cost method. Inventories consist of the following (in thousands):

	June 30, 2017		December 31, 2016
Raw materials	$	62		59
Work in process		16		—
Finished goods		115		76
Total	$	193		135

Write downs for excess or expired inventory are based on management’s estimates of forecasted usage of inventories and are included in cost of goods sold. A significant change in the timing or level of demand for certain products as compared to forecasted amounts may result in recording additional write downs for excess or expired inventory in the future. Charges to cost of goods sold for inventory write-downs, scrap, shrinkage and expired inventories totaled approximately $1,000 and $19,000 for the three months ended June 30, 2017 and 2016, respectively, and approximately $10,000 and $37,000 for the six months ended June 30, 2017 and 2016, respectively.

(6)	Property and Equipment, Net

Property and equipment, net consist of the following (in thousands):

	June 30, 2017			December 31, 2016
Computer equipment and software	$	183			143
Laboratory and manufacturing equipment		431			366
Furniture and fixtures		48			48
Leasehold improvements		325			325
Property and equipment, gross		987			882
Less accumulated depreciation		(807	)		(771	)
Property and equipment, net	$	180			111

Depreciation expense totaled approximately $23,000 and $11,000 for the three months ended June 30, 2017 and 2016, respectively, and approximately $36,000 and $21,000 for the six months ended June 30, 2017 and 2016, respectively.

(7)	Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):

	June 30, 2017		December 31, 2016
Accrued expenses	$	406		478
Accrued clinical trial costs		126		—
Grant liability		269		304
Customer deposits		63		66
Total	$	864		848

(8)	Convertible Notes

In May 2015, BioCardia Lifesciences entered into note agreements with various stockholders of BioCardia Lifesciences and other lenders for a total of $7.2 million, or the 2015 Notes. The 2015 Notes accrued 8% annual simple interest, matured 18 months from the issue date and were callable after the maturity date by written demand of a majority of the holders of the outstanding note principle. If BioCardia Lifesciences closed an effective registration statement filed under the Securities Act of 1933, as amended, covering the sale of BioCardia Lifesciences common stock (an IPO) prior to maturity, the outstanding principle and accrued interest would have automatically converted into shares of common stock at 80% of the price of the shares of common stock purchased in the IPO. If at any time prior to the maturity date, the Company closed a private placement of the Company’s preferred stock for aggregate sales proceeds of at least $5.0 million excluding note conversions, at the note holder’s option, or the Optional Conversion Right, the outstanding principle and interest may have been converted into shares of the preferred stock at a conversion price equal to 80% of the price of the preferred shares sold in such financing, plus preferred stock warrant coverage equal to 8% with an exercise price equal to the purchase price of the preferred stock sold in such financing. If the notes were held to maturity, subject to BioCardia Lifesciences authorizing sufficient shares of a new class of preferred stock, or the Maturity Date Preferred Stock, the holder would have had the option to convert the outstanding principle and interest to this new class of Maturity Date Preferred Stock at an exercise price of $0.07 per share, plus 8% warrant coverage.

In August 2016, the Company and the holders of the 2015 Notes amended the 2015 Notes, pursuant to which the outstanding principal amount and all accrued interest through August 31, 2016 automatically converted into shares of BioCardia Lifesciences common stock at 80% of the conversion price of the convertible notes issued in October 2016. In addition, the amendment eliminated the payment of interest for the period subsequent to August 31, 2016, and through the date of the closing of the Merger. Upon the completion of the Merger, the 2015 Notes and accrued interest converted into shares of BioCardia Lifesciences common stock, which were then exchanged at the Exchange Ratio into 67,443,988 shares of the Company’s common stock.

The 2015 Notes had redemption features that were determined to be a compound embedded derivative requiring bifurcation and separate accounting at estimated fair value. The changes in the estimated value are reflected in the change in fair value of convertible shareholder notes derivative liability in the consolidated statements of operations. We estimated the fair value of the compound embedded derivative utilizing a Monte Carlo simulation model. The inputs used to determine the estimated fair value of the compound embedded derivative instrument include the probability of an underlying event triggering the redemption event and its timing prior to the maturity date of the 2015 Notes. The fair value measurement is based upon significant inputs not observable in the market. These assumptions are inherently subjective and involve significant management judgment. Immediately prior to the closing of the Merger, the compound embedded derivative was remeasured based on the settlement value of the common stock exchanged for the notes, and we reclassified the balance of the convertible shareholder notes derivative liability to additional paid-in capital.

The Company recognized interest expense, including amortization of the debt discount of approximately $0 and $557,000 for the three months ended June 30, 2017 and 2016, respectively, and approximately $0 and $1.1 million for the six months ended June 30, 2017 and 2016, respectively.

(9)	Share-Based Compensation

BioCardia Lifesciences adopted, and the BioCardia Lifesciences shareholders approved, the 2002 Stock Plan in 2002, or the 2002 Plan, and the Company assumed the 2002 Plan in the Merger. We will not grant any additional awards under the 2002 Plan following the Merger. In 2016, BioCardia Lifesciences adopted, and the BioCardia Lifesciences shareholders approved, the 2016 Equity Incentive Plan, or the 2016 Plan, and the Company assumed the 2016 Plan in the Merger. We will grant awards, including incentive stock options and nonstatutory stock options, under the 2016 Plan following the Merger.

Stock compensation attributable to manufacturing operations was not significant and was expensed directly to cost of goods sold in the condensed consolidated statements of operations. Share-based compensation expense for the three and six months ended June 30, 2017 and 2016 was recorded as follows (in thousands):

	Three Months ended June 30,				Six Months ended June 30,
	2017		2016		2017		2016
Cost of goods sold	$	33	$	—	$	74	$	1
Research and development		154		—		326		1
Selling, general and administrative		489		28		898		56
Share-based compensation expense	$	676	$	28	$	1,298	$	58

The following table summarizes the activity of stock options and related information:

	Options outstanding

				Weighted
				average
	Number of			exercise
	shares			price

Balance, December 31, 2016		41,903,728		$	0.15
Stock options granted		6,714,410			0.73
Stock options exercised		(107,153	)		0.20
Stock options cancelled		(407,382	)		0.04
Balance, June 30, 2017		48,103,603		$	0.23

The weighted average grant-date fair value of options granted during the six months ended June 30, 2017 was $0.57 per share.

Employee Share-Based Compensation (Stock Options)

During the six months ended June 30, 2017, the Company granted stock options to certain non-employee directors and employees to purchase 4,766,627 shares of common stock. The fair value of each option grant is estimated on the date of the grant using the BSM option pricing model with the weighted average assumptions in the table below.

Risk-free interest rate	1.88	–	2.12%
Volatility	85	–	89%
Dividend yield		None
Expected terms (in years)	5.50	–	6.25

Unrecognized share-based compensation for employee options granted through June 30, 2017 is approximately $4.4 million to be recognized over a remaining weighted average service period of 3.0 years.

Employee Share-Based Compensation (RSUs)

During the six months ended June 30, 2017, the Company granted to certain non-employee directors 1,176,000 restricted stock units, or RSUs. The fair value of each RSU is estimated on the closing market price on the grant date.

The following summarizes the activity of non-vested RSUs:

			Weighted
			average
			grant date
	Number of		fair value
	shares		per share
Balance, December 31, 2016		—
RSUs granted		1,176,000	$	0.73
RSUs vested		—
RSUs forfeited		—
Balance, June 30, 2017		1,176,000	$	0.73

Unrecognized share-based compensation for employee RSUs granted through June 30, 2017 is approximately $742,000 to be recognized over a remaining weighted average service period of 2.1 years.

Nonemployee Share-Based Compensation

During the six months ended June 30, 2017, the Company granted options to purchase 1,947,783 shares of common stock to consultants. These options were granted in exchange for consulting services to be rendered and vest over the term specified in the grant, which correlates to the period the services are rendered. The Company recorded approximately $277,000 and $1,000 for the three months ended June 30, 2017 and 2016, respectively, and approximately $510,000 and $2,000 for the six months ended June 30, 2017 and 2016, respectively, as nonemployee share-based compensation expense.

The Company accounts for share-based compensation arrangements with nonemployees, using the BSM option pricing model, based on the fair value as these instruments vest. Accordingly, at each reporting date, the Company revalues the unearned portion of the share-based compensation and the resulting change in fair value is recognized in the consolidated statements of operations over the period the related services are rendered. The following assumptions were used to value the awards as of June 30, 2017:

Risk-free interest rate	2.25	–	2.28%
Volatility		87%
Dividend yield		None
Expected terms (in years)	9.1	–	9.5

(10)	Net Loss per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. Since we were in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive.

The following outstanding common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:

	June 30,
	2017		2016
Stock options to purchase common stock		48,103,603		12,464,656
Restricted stock units		1,176,000		-
Total		49,279,603		12,464,656

(11)

Income Taxes

During the six months ended June 30, 2017 and 2016, there was no income tax expense or benefit for federal or state income taxes in the accompanying condensed consolidated statement of operations due to the Company’s net loss and a full valuation allowance on the resulting deferred tax assets.

As of June 30, 2017, the Company retains a full valuation allowance on its deferred tax assets in all jurisdictions. The realization of the Company’s deferred tax assets depends primarily on its ability to generate future taxable income which is uncertain. The Company does not believe that its deferred tax assets are realizable on a more-likely-than-not basis; therefore, the net deferred tax assets have been fully offset by a valuation allowance.

(12)

Related Party Transactions

In August 2016, the Company granted an option to purchase 5,027,726 shares of common stock, with 4-year vesting period, to OPKO Health, Inc., or OPKO, as consideration for consulting services to be provided by OPKO in accordance with the consulting agreement entered into between the Company and OPKO. The unearned portion of the share-based compensation related to the OPKO option was revalued at June 30, 2017, and the Company recorded $184,000 and $306,000 as expense during the three and six months ended June 30, 2017, respectively. The term of the consulting agreement is 4 years and will be automatically renewed for successive one year periods. The chairman and chief executive officer of OPKO is a beneficial owner of more than 5% of the outstanding shares of the Company’s common stock and OPKO itself is also a beneficial owner of more than 5% of the outstanding shares of the Company’s common stock.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q. This discussion contains certain forward-looking statements that involve risk and uncertainties. Our actual results may differ materially from those discussed below. Factors that could cause or contribute to such differences include, but are not limited to, those listed in our Annual Report on Form 10-K and elsewhere in this report. Historical results are not necessarily indicative of future results.

Special Note Regarding Smaller Reporting Company Status

We are filing this Quarterly Report on Form 10-Q as a “smaller reporting company” (as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended) based on our public float (the aggregate market value of our common equity held by non-affiliates of the Company) as of the last business day of our second fiscal quarter of 2016. As a result of being a smaller reporting company, we are allowed and have elected to omit certain information, including tabular disclosure of contractual obligations, from this Management’s Discussion and Analysis of Financial Condition and Results of Operations; however, we have provided all information for the periods presented that we believe to be appropriate and necessary.

Overview

We are a clinical-stage regenerative medicine company developing novel therapeutics for cardiovascular diseases with large unmet medical needs. Our lead therapeutic candidate is the CardiAMP Cell Therapy System, or CardiAMP. We initiated our U.S. Food and Drug Administration, or FDA, accepted Phase III pivotal trial for CardiAMP in ischemic systolic heart failure, in December 2016 and we expect to obtain top-line data in 2019. If our trial is successful, we believe we will be the first company to reach the market with a cell-based therapy to treat heart failure. An Investigational Device Exemption submission to FDA for CardiAMP in the indication of post myocardial indication, or the treatment of patients in the immediate aftermath of a heart attack, is anticipated in 2017. Our second therapeutic candidate is the CardiALLO Cell Therapy System, or CardiALLO, which utilizes bone marrow derived mesenchymal cells from a donor to treat heart failure. We anticipate submitting an Investigational New Drug, or IND, application for submission to the FDA for a Phase II trial for CardiALLO for the treatment of ischemic systolic heart failure in 2018. This IND is expected to have improved Chemistry Manufacturing Controls, or CMC, in the IND relative to our previous co-sponsored investigations. We are committed to applying our expertise in the fields of autologous and allogeneic cell-based therapies to improve the lives of patients with cardiovascular conditions. Autologous cell therapies use autologous cells, which means the patient’s own cells, while allogeneic cell therapies use allogeneic cells, which means cells from a third party donor. As we engage in clinical trials of our therapeutic candidates, we have compensated and intend to compensate all parties performing the trials or studies (including all the parties identified in our Annual Report on Form 10-K) only on terms that are standard and customary in clinical study arrangements.

To date, we have devoted substantially all of our resources to research and development efforts relating to our therapeutic candidates and biotherapeutic delivery systems, including conducting clinical trials, developing manufacturing and sales capabilities, in-licensing related intellectual property, providing general and administrative support for these operations and protecting our intellectual property. We have also generated modest revenues from sales of our approved products. We have funded our operations primarily through the sales of equity and convertible debt securities, and certain government and private grants. All convertible debt securities were converted into shares of our Common Stock in connection with the Merger.

We have incurred net losses in each year since our inception. Our net losses were approximately $2.9 million and 2.0 million for the three months ended June 30, 2017 and 2016, respectively, and approximately $5.8 million and $3.5 million for the six months ended June 30, 2017 and 2016, respectively. As of June 30, 2017, we had an accumulated deficit of approximately $66 million. Substantially all of our net losses have resulted from costs incurred in connection with our research and development programs, clinical trials, intellectual property matters, building our manufacturing and sales capabilities, and from general and administrative costs associated with our operations.

Financial Overview

Revenue

We currently have a portfolio of enabling and delivery products, from which we have generated modest revenue.

Cost of Goods Sold

Cost of goods sold includes the costs of raw materials and components, manufacturing personnel and facility costs and other indirect and overhead costs associated with manufacturing our enabling and delivery products.

Research and Development Expenses

Our research and development expenses consist primarily of:

•

salaries and related overhead expenses, which include share-based compensation and benefits for personnel in research and development functions;

•

fees paid to consultants and contract research organizations, or CROs, including in connection with our preclinical studies and clinical trials and other related clinical trial fees, such as for investigator grants, patient screening, laboratory work, clinical trial material management and statistical compilation and analysis;

•

costs related to acquiring and manufacturing clinical trial materials;

•

costs related to compliance with regulatory requirements; and

•

payments related to licensed products and technologies.

We expense all research and development costs in the periods in which they are incurred. Costs for certain development activities are recognized based on an evaluation of the progress to completion of specific tasks using information and data provided to us by our vendors and clinical sites. Nonrefundable advance payments for goods or services to be received in future periods for use in research and development activities are deferred and capitalized. The capitalized amounts are then expensed as the related goods are delivered and the services are performed.

We plan to increase our research and development expenses for the foreseeable future as we continue to develop CardiAMP, and subject to the availability of additional funding, further advance the development of CardiALLO and any other therapeutic candidates for additional indications. We typically use our employee and infrastructure resources across multiple research and development programs, and accordingly we have not historically allocated resources specifically to our individual programs.

The process of conducting the necessary clinical research to obtain regulatory approval is costly and time-consuming, and the successful development of our therapeutic candidates is highly uncertain. As a result, we are unable to determine the duration and completion costs of our research and development projects or when and to what extent we will generate revenue from the commercialization and sale of any of our therapeutic candidates.

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist primarily of salaries and related costs for employees in executive, finance and administration, sales, corporate development and administrative support functions, including share-based compensation expenses and benefits. Other significant selling, general and administrative expenses include sales commissions, rent, accounting and legal services, obtaining and maintaining patents, the cost of consultants, occupancy costs, insurance premiums and information systems costs.

We expect that our selling, general and administrative expenses will increase as we advance our Phase III pivotal heart failure trial for CardiAMP, and subject to the availability of additional funding, conduct our Phase II trial for CardiALLO and prepare for commercialization. We believe that these increases will likely include increased costs for director and officer liability insurance, costs related to the hiring of additional personnel to support product commercialization efforts and operations and increased fees for outside consultants, attorneys and accountants. We also expect to incur increased costs to comply with corporate governance, internal controls, investor relations and disclosures, and similar requirements applicable to public companies.

Other Income (Expense)

Other income and expense consists primarily of interest income we earn on our cash, cash equivalents and investments, interest charges we incurred in periods when we have convertible debt outstanding, and changes in the fair value of our warrant and convertible shareholder note derivative liabilities in periods when we have warrants or convertible debt outstanding. Subsequent to the Merger we have no interest charges related to the convertible debt and changes in the fair value of our warrant and convertible shareholder note derivative liabilities as such instruments were converted, cancelled or exchanged as part of the Merger. We expect our interest income to increase following the completion of the Merger as we invest our cash on hand pending its use in our operations.

Critical Accounting Policies and Estimates

Our management’s discussion and analysis of our financial condition and results of operations is based on our financial statements, which we have prepared in accordance with generally accepted accounting principles in the United States, or U.S. GAAP. The preparation of our financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of our financial statements, as well as the reported expenses during the periods presented. We evaluate these estimates and judgments on an ongoing basis. We base our estimates on historical experience and on other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Other than below, there were no material changes in our critical accounting estimates or accounting policies described in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2016 Form 10-K during the six months ended June 30, 2017.

Share-Based Compensation

We measure and recognize share-based compensation expense for equity awards to employees, directors and consultants based on fair value at the grant date. We use the Black-Scholes-Merton option-pricing model, or BSM, to calculate the fair value of stock options. Restricted stock units (RSUs) are measured based on the fair market values of the underlying stock on the dates of grant. Share-based compensation expense recognized in the statements of operations is based on awards at the time of grant, and is reduced for actual forfeitures at the time that the forfeitures occur. Compensation cost for employee share-based awards will be recognized over the vesting period of the applicable award on a straight-line basis.

For options granted to nonemployees, we revalue the unearned portion of the share-based compensation and the resulting change in fair value is recognized in the statements of operations over the period the related services are rendered.

The BSM option-pricing model requires the input of subjective assumptions, including the risk-free interest rate, the expected volatility in the value of our Common Stock, and the expected term of the option. These estimates involve inherent uncertainties and the application of management’s judgment. If factors change and different assumptions are used, our share-based compensation expense could be materially different in the future.

Results of Operations

Comparison of Three Months Ended June 30, 2017 and 2016

The following table summarizes our results of operations for the three months ended June 30, 2017 and 2016 (in thousands):

	Three Months Ended June 30,

	2017			2016
Revenue:
Net product revenue	$	101		$	138
Collaboration agreement revenue		11			6
Total revenue		112			144

Cost and expenses:
Cost of goods sold		203			156
Research and development		1,295			497
Selling, general and administrative		1,582			869
Total cost and expenses		3,080			1,522

Operating loss		(2,968	)		(1,378	)
Interest income		23			-
Interest expense		-			(557	)
Other (expense) income		-			(43	)
Net loss	$	(2,945	)	$	(1,978	)

Revenue. Revenue decreased by approximately $32,000 in the three months ended June 30, 2017 compared to the three months ended June 30, 2016 primarily due to a reduction in Morph sales volumes. We expect current sales volumes to remain consistent, with modestly lower net product revenue for 2017 relative to 2016.

Cost of Goods Sold. Cost of goods sold increased by approximately $47,000 in the three months ended June 30, 2017 compared to the three months ended June 30, 2016 primarily due to increased stock compensation cost for manufacturing personnel. We expect cost of goods sold for 2017 to be relatively consistent with 2016.

Research and Development Expenses. Research and development expenses increased by approximately $798,000 in the three months ended June 30, 2017 compared to the three months ended June 30, 2016 primarily due to expenses incurred in the planning, preparation and inception of the CardiAMP Phase III pivotal heart failure trial. We expect research and development expenses to increase as we continue to enroll and treat patients in the trial and incur additional development expenses related to CardiALLO therapeutic program.

Selling, General and Administrative Expenses. Selling, general and administrative expenses increased by approximately $713,000 in the three months ended June 30, 2017 compared to the three months ended June 30, 2016 primarily due to additional costs for the organizational structure needed to support the CardiAMP Phase III pivotal trial and operations as a public company. These expenses include additional salary expenses, stock compensation and legal, accounting, tax and other corporate expenses. We expect selling, general and administrative expenses for the remaining quarters of 2017 to increase moderately from the three month period ended June 30, 2017 as we continue to build the supporting staff and infrastructure to support the CardiAMP Phase III pivotal trial and public company operations.

Interest Income. Interest income for the three months ended June 30, 2017 consisted primarily of interest income earned on cash equivalents and short-term investments.

Interest Expense. Interest expense for the three months ended June 30, 2016 consisted primarily of interest expense related to convertible notes which are no longer outstanding.

Other Income (Expense). Other income (expense) for the three months ended June 30, 2016 consisted primarily of the changes in value of the convertible preferred stock warrant liabilities and the change in value of the convertible shareholder note derivative liability.

Comparison of Six Months Ended June 30, 2017 and 2016

The following table summarizes our results of operations for the six months ended June 30, 2017 and 2016 (in thousands):

	Six Months Ended June 30,

	2017			2016
Revenue:
Net product revenue	$	210		$	306
Collaboration agreement revenue		39			16
Total revenue		249			322

Cost and expenses:
Cost of goods sold		378			382
Research and development		2,328			938
Selling, general and administrative		3,386			1,456
Total cost and expenses		6,092			2,776

Operating loss		(5,843	)		(2,454	)
Interest income		23			-
Interest expense		-			(1,107	)
Other (expense) income		(1	)		87
Net loss	$	(5,821	)	$	(3,474	)

Revenue. Revenue decreased by approximately $73,000 in the six months ended June 30, 2017 compared to the six months ended June 30, 2016 primarily due to a reduction in Morph sales volumes. We expect current sales volumes to remain consistent, with modestly lower net product revenue for 2017 relative to 2016.

Cost of Goods Sold. Cost of goods sold decreased by approximately $4,000 in the six months ended June 30, 2017 compared to the six months ended June 30, 2016 primarily due to the decrease in revenues, partially offset by increased stock compensation cost for manufacturing personnel. We expect cost of goods sold for 2017 to be relatively consistent with 2016.

Research and Development Expenses. Research and development expenses increased by approximately $1.4 million in the six months ended June 30, 2017 compared to the six months ended June 30, 2016 primarily due to expenses incurred in the planning, preparation and inception of the CardiAMP Phase III pivotal heart failure trial, including fees paid to consultants and contract research organization (CRO), higher personnel costs and increased stock compensation expense. We expect research and development expenses to increase as we continue to enroll and treat patients in the trial and incur additional development expenses related to CardiALLO therapeutic program.

Selling, General and Administrative Expenses. Selling, general and administrative expenses increased by approximately $1.9 million in the six months ended June 30, 2017 compared to the six months ended June 30, 2016 primarily due to additional costs for the organizational structure needed to support the CardiAMP Phase III pivotal trial and operations as a public company. These costs include additional salary expenses, stock compensation and legal, accounting, tax, and other corporate expenses. We expect selling, general and administrative expenses for the remaining quarters to increase moderately from the six month period ended June 30, 2017 as we continue to build the supporting staff and infrastructure to support the CardiAMP Phase III pivotal trial and public company operations.

Interest Income. Interest income for the six months ended June 30, 2017 consisted primarily of interest income earned on cash equivalents and short-term investments.

Interest Expense. Interest expense for the six months ended June 30, 2016 consisted primarily of interest expense related to convertible notes which are no longer outstanding.

Other Income (Expense). Other income (expense) for the six months ended June 30, 2016 consisted primarily of the changes in value of the convertible preferred stock warrant liabilities and the change in value of the convertible shareholder note derivative liability.

Liquidity and Capital Resources

We have incurred net losses each year since our inception and as of June 30, 2017, we had an accumulated deficit of approximately $66 million. We anticipate that we will continue to incur net losses for at least the next several years.

We have funded our operations principally through the sales of equity and convertible debt securities as well as the cash acquired through the Merger. As of June 30, 2017, we had cash and cash equivalents of approximately $15.1 million.

The following table shows a summary of our cash flows for the periods indicated (in thousands):

	Six Months Ended June 30,
	2017			2016
Net cash provided by (used in):
Operating activities	$	(4,369	)	$	(1,870	)
Investing activities		(1,896	)		-
Financing activities		22			-

Net decrease in cash and cash equivalents	$	(6,243	)	$	(1,870	)

Cash Flows from Operating Activities. The increase in overall spending for operating activities of approximately $2.5 million in the six months ended June 30, 2017 compared to the six months ended June 30, 2016 relates primarily to increased cash outflows to conduct the CardiAMP Phase III pivotal trial, further develop the CardiAMP and CardiALLO programs and to build the supporting infrastructure to sustain these efforts and support operations as a public company.

Cash Flows from Investing Activities. Net cash used in investing activities of $1.9 million during the six months ended June 30, 2017 consists of the purchases of property and equipment and short-term investments.

Cash Flows from Financing Activities. Net cash provided by financing activities of $22,000 during the six months ended June 30, 2017 consists of the proceeds from the exercise of stock options.

Future Funding Requirements

To date, we have generated modest revenue from sales of our approved products. We do not know when, or if, we will generate any revenue from our development stage biotherapeutic programs. We do not expect to generate any revenue from sales of our CardiAMP or CardiALLO therapeutic candidates unless and until we obtain regulatory approval. At the same time, we expect our expenses to increase in connection with our ongoing development activities, particularly as we continue the research, development and clinical trials of, and seek regulatory approval for, our therapeutic candidates. In addition, subject to obtaining regulatory approval for any of our therapeutic candidates and companion diagnostic, we expect to incur significant commercialization expenses for product sales, marketing, manufacturing and distribution. We anticipate that we will need additional funding in connection with our continuing operations.

Based upon our current operating plan, we believe that the cash and cash equivalents of $15.1 million coupled with $1.8 million in short-term investments as of June 30, 2017 are sufficient to fund our operations into the third quarter of 2018. In order to continue to further the development of the Company’s lead therapeutic candidate, the CardiAMP cell therapy system, and the Company’s second therapeutic candidate, the CardiALLO cell therapy system, through and beyond Q3 2018, we will be required to raise additional capital. The Company plans to raise additional capital, potentially including debt and equity arrangements, to finance its future operations. If adequate funds are not available, the Company may be required to reduce operating expenses, delay or reduce the scope of its product development programs, obtain funding, obtain funds through arrangements with others that may require the Company to relinquish rights to certain of its technologies or products that the Company would otherwise seek to develop or commercialize itself, or cease operations. While the Company believes in the viability of its strategy to raise additional funds, there can be no assurances to that effect. We have based our estimates on assumptions that may prove to be wrong, and we may use our available capital resources sooner than we currently expect. Because of the numerous risks and uncertainties associated with the development and commercialization of our therapeutic candidates, we are unable to estimate the amounts of increased capital outlays and operating expenditures necessary to complete the development of our therapeutic candidates.

Our future capital requirements will depend on many factors, including:

•

the progress, costs, results and timing of our CardiAMP and CardiALLO clinical trials and related development programs;

•

FDA acceptance of our CardiAMP and CardiALLO therapies for heart failure and for other potential indications;

•

the outcome, costs and timing of seeking and obtaining FDA and any other regulatory approvals;

•

the costs associated with securing, establishing and maintaining commercialization and manufacturing capabilities;

•

the number and characteristics of product candidates that we pursue, including our product candidates in preclinical development;

•

the ability of our product candidates to progress through clinical development successfully;

•

our need to expand our research and development activities;

•

the costs of acquiring, licensing or investing in businesses, products, product candidates and technologies;

•

our ability to maintain, expand and defend the scope of our intellectual property portfolio, including the amount and timing of any payments we may be required to make, or that we may receive, in connection with the licensing, filing, prosecution, defense and enforcement of any patents or other intellectual property rights;

•

the general and administrative expenses related to being a public company;

•

our need and ability to hire additional management and scientific, medical and sales personnel;

•

the effect of competing technological and market developments; and

•

our need to implement additional internal systems and infrastructure, including financial and reporting systems.

Until such time that we can generate meaningful revenue from the sales of approved therapies and products, if ever, we expect to finance our operating activities through public or private equity or debt financings, government or other third-party funding, marketing and distribution arrangements, and other collaborations, strategic alliances and licensing arrangements or a combination of these approaches. To the extent that we raise additional capital through the sale of equity or convertible debt securities, the ownership interests of our Common Stock holders will be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect the rights of our Common Stock holders. Debt financing, if available, may involve agreements that include conversion discounts or covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. If we raise additional funds through government or other third-party funding, marketing and distribution arrangements or other collaborations, or strategic alliances or licensing arrangements with third parties, we may have to relinquish valuable rights to our technologies, future revenue streams, research programs, products or therapeutic candidates or to grant licenses on terms that may not be favorable to us. If we are unable to obtain funding on a timely basis, we may be required to significantly curtail, delay or discontinue one or more of our research and development programs or the commercialization of any approved therapies or products or be unable to expand our operations or otherwise capitalize on our business opportunities, as desired, which could materially adversely affect our business, financial condition and results of operations.

Off-Balance Sheet Arrangements

During the periods presented, we did not have, nor do we currently have, any off-balance sheet arrangements as defined under the rules of the Securities and Exchange Commission.

Recent Accounting Pronouncements

See Note 2 of our notes to condensed consolidated financial statements for information regarding recent accounting pronouncements that are of significance or potential significance to us.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Company’s reports under the Securities Exchange Act of 1934, as amended, or the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer and Vice President of Finance, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, as the Company’s controls are designed to do, and management necessarily was required to apply its judgment in evaluating the risk related to controls and procedures.

In connection with the preparation of this Quarterly Report on Form 10-Q, as of June 30, 2017, an evaluation was performed under the supervision and with the participation of our management, including the Chief Executive Officer and Vice President of Finance, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act). Due to the material weakness in internal control over financial reporting described in our Annual Report on 10-K for the fiscal year end dated December 31, 2016, our Chief Executive Officer and Vice President of Finance concluded that our disclosure controls and procedures were not effective as of June 30, 2017. These conclusions were communicated to the Audit Committee. Notwithstanding the existence of this material weakness, management has concluded that the condensed consolidated financial statements in this Form 10-Q fairly present, in all material respects, the Company’s financial position, results of operations and cash flows for all periods and dates presented.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the three month period covered by this Quarterly Report on Form 10-Q that have materially affected or is reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

The Company may be subject to various claims, complaints, and legal actions that arise from time to time in the normal course of business. Management does not believe that the Company is party to any currently pending legal proceedings. There can be no assurance that existing or future legal proceedings arising in the ordinary course of business or otherwise will not have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows.

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2016, which could materially affect our business, financial condition, or future results. The risks described in this report and in our Annual Report on 10-K are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition or future results.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBIT INDEX

The exhibits listed in the Exhibit Index to this Quarterly Report on Form 10-Q are incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	BIOCARDIA, INC. (Registrant)


Date: August 14, 2017	By:	/s/ Peter Altman
		Peter Altman
		President and Chief Executive Officer
		(Principal Executive Officer)

Date: August 14, 2017	By:	/s/ David McClung
		David McClung
		Vice President of Finance
		(Principal Financial and Accounting Officer)

EXHIBIT INDEX

Exhibit

Number

Exhibit Description

3.1(1)

Amended and Restated Certificate of Incorporation.

3.2(2)

Amended and Restated Bylaws.

31.1*

Certification of Periodic Report by Principal Executive Officer under Section 302 of the Sarbanes-Oxley Act of 2002.

31.2*

Certification of Periodic Report by Principal Financial Officer under Section 302 of the Sarbanes-Oxley Act of 2002.

32.1**	Certification of Principal Executive Officer Pursuant to Rule 13a-14(b) and Section 906 of the Sarbanes-Oxley Act of 2002 (Subsections (a) and (b) of Section 1350, Title 18, United States Code).
32.2**	Certification of Principal Financial Officer Pursuant to Rule 13a-14(b) and Section 906 of the Sarbanes-Oxley Act of 2002 (Subsections (a) and (b) of Section 1350, Title 18, United States Code).

101.INS+	XBRL Instance Document
101.SCH+	XBRL Taxonomy Extension Schema Document
101.CAL+	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF+	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB+	XBRL Taxonomy Extension Label Linkbase Document
101.PRE+	XBRL Taxonomy Extension Presentation Linkbase Document

*	Filed herewith.

**	Furnished herewith.
+	The financial information contained in these XBRL documents is unaudited and is furnished, not filed with the Securities and Exchange Commission.

(1)	Previously filed as an exhibit to the Current Report on Form 8-K filed by us on April 11, 2017.
(2)	Previously filed as an exhibit to the Current Report on Form 8-K filed by us on April 11, 2017.

EX-31.1 2 ex31-1.htm EXHIBIT 31.1 ex31-1.htm

Exhibit 31.1

Certification of Principal Executive Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Peter Altman, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of BioCardia, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 14, 2017

/s/ Peter Altman

Name: Peter Altman

Title: President and Chief Executive Officer

(Principal Executive Officer)

EX-31.2 3 ex31-2.htm EXHIBIT 31.2 ex31-2.htm

Exhibit 31.2

Certification of Principal Financial Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, David McClung, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of BioCardia, Inc.;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 14, 2017

/s/ David McClung

Name: David McClung

Title: Vice President of Finance

(Principal Financial Officer)

EX-32.1 4 ex32-1.htm EXHIBIT 32.1 ex32-1.htm

Exhibit 32.1

Certification of Principal Executive Officer

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, Peter Altman, the President and Chief Executive Officer of BioCardia, Inc. (the "Company"), hereby certify, that, to my knowledge:

1. The Quarterly Report on Form 10-Q for the period ended June 30, 2017 (the "Report") of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 14, 2017

/s/ Peter Altman

Name: Peter Altman

Title: President and Chief Executive Officer

(Principal Executive Officer)

EX-32.2 5 ex32-2.htm EXHIBIT 32.2 ex32-2.htm

Exhibit 32.2

Certification of Principal Financial Officer

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, David McClung, the Vice President of Finance of BioCardia, Inc. (the “Company”), hereby certify, that, to my knowledge:

1.

The Quarterly Report on Form 10-Q for the period ended June 30, 2017 (the “Report”) of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 14, 2017

/s/ David McClung

Name: David McClung

Title: Vice President of Finance

(Principal Financial Officer)

EX-101.INS 6 bcda-20170630.xml EXHIBIT 101.INS 126000 406000 478000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 27pt; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">(</div><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></div><div style="display: inline; font-weight: bold;">)</div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Accrued </div><div style="display: inline; font-weight: bold;">Expenses and Other Current </div><div style="display: inline; font-weight: bold;">Liabilities</div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accrued expenses and other current liabilities consisted of the following (in thousands):</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">  </div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 85%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 15%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">June 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 64%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accrued expenses</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">406 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">478 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accrued clinical trial costs</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Grant liability</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Customer deposits</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">63 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">864 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">848 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> </table> </div></div> 864000 848000 19.3678009 0.54 167000 220000 -217000 -139000 8000 7000 11000 6000 39000 16000 P4Y P1Y 0.8 0.8 0.08 0.8 5000000 0.08 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"><tr><td style="WIDTH: 36pt; VERTICAL-ALIGN: middle"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></div></div></td> <td style="WIDTH: 27pt; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">(b)</div></div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Liquidity</div></div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 20.25pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company has incurred net losses and negative cash flows from operations since its inception and had an accumulated deficit of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$66</div> million as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017. </div>Management expects operating losses and negative cash flows to continue through at least the next several years.</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Based on management’s current plans, management believes cash and cash equivalents of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$15.1</div> million and short-term investments of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.8</div> million as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>are sufficient to fund the Company into the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div> In order to continue to further the development of the Company’s lead therapeutic candidate, the CardiAMP cell therapy system, and the Company’s <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> therapeutic candidate, the CardiALLO cell therapy system, through and beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Q3</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> we will be required to raise additional capital. The Company plans to raise additional capital, potentially including debt and equity arrangements, to finance its future operations. If adequate funds are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> available, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be required to reduce operating expenses, delay or reduce the scope of its product development programs, obtain funds through arrangements with others that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>require the Company to relinquish rights to certain of its technologies or products that the Company would otherwise seek to develop or commercialize itself, or cease operations. While the Company believes in the viability of its strategy to raise additional funds, there can be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> assurances to that effect. </div></div></div></div></div> 269000 304000 16000 161000 0.05 0.05 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 85%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 15%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">June 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 64%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accrued expenses</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">406 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">478 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accrued clinical trial costs</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Grant liability</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Customer deposits</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">63 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">864 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">848 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 95%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="6"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Three Months ended June 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="6"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Six Months ended June 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cost of goods sold</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Research and development</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">154 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Selling, general and administrative</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">489</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">898 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 24%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 27pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -9pt"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Share-based compensation expense</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">676</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,298 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> </table></div> false --12-31 Q2 2017 2017-06-30 10-Q 0000925741 457818571 Yes Smaller Reporting Company BioCardia, Inc. No No bcda <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 27pt"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div></div><div style="display: inline; font-weight: bold;">) </div></div></td> <td> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; font-weight: bold;">Investments</div></div></td> </tr> </table> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following table summarizes the estimated value of the Company’s cash equivalents and marketable securities and the gross unrealized gains and losses as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 (</div>in thousands):</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 90%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 44%"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Amortized cost</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Unrealized gain</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Unrealized loss</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; HEIGHT: 0px; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 0%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Estimated Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 44%; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">US government securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 44%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total marketable securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> </table> </div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>the contractual maturity of the available-for-sale marketable securities is less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year. There was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> other-than-temporary impairment recognized during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> 6 months ended</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017.</div></div></div></div>

590000

525000

142000

74000

807000

771000

81586000

80266000

33000

74000

1000

154000

326000

1000

489000

28000

898000

56000

676000

28000

1298000

58000

1000

2000

48103603

12464656

1176000

49279603

12464656

17756000

22082000

17522000

21917000

1796000

5000

15109000

21352000

3557000

1687000

3901000

8711000

649000

1848000

3901000

11208000

15109000

21352000

-6243000

-1870000

0.001

750000000

457682784

457575631

457682784

457575631

458000

203000

156000

378000

382000

3080000

1522000

6092000

2776000

63000

66000

67443988

0.07

7200000

0.08

P1Y180D

68000

56000

153000

71000

23000

11000

36000

21000

36000

21000

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 27pt; VERTICAL-ALIGN: top"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">(</div><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div></div><div style="display: inline; font-weight: bold;">)</div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Share-Based Compensation</div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">BioCardia Lifesciences adopted, and the BioCardia Lifesciences shareholders approved, the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2002</div> Stock Plan in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2002,</div> or the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2002</div> Plan, and the Company assumed the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2002</div> Plan in the Merger. We will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> grant any additional awards under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2002</div> Plan following the Merger. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> BioCardia Lifesciences adopted, and the BioCardia Lifesciences shareholders approved, the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> Equity Incentive Plan, or the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> Plan, and the Company assumed the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> Plan in the Merger. We will grant awards, including incentive stock options and nonstatutory stock options, under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> Plan following the Merger. </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stock compensation attributable to manufacturing operations was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> significant and was expensed directly to cost of goods sold in the condensed consolidated statements of operations. Share-based compensation expense for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> was recorded as follows (in thousands):</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">  </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; FONT-SIZE: 10pt; FONT-STYLE: normal; BACKGROUND-COLOR: yellow"></div></div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 95%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="6"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Three Months ended June 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="6"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Six Months ended June 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cost of goods sold</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Research and development</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">154 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Selling, general and administrative</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">489</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">898 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 24%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 27pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -9pt"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Share-based compensation expense</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">676</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,298 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> </table> </div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></div></div> <div style=" MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following table summarizes the activity of stock options and related information:</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 80%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 20%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="6"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Options outstanding</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Weighted</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">average</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Number of</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">exercise</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">shares</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">price</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 62%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, December 31, 2016</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,903,728 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.15 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stock options granted</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,714,410 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.73 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stock options exercised</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(107,153</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap">) </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.20 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stock options cancelled</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(407,382</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap">) </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.04 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, June 30, 2017</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,103,603 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.23 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> </table> </div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; FONT-SIZE: 10pt; FONT-STYLE: normal; BACKGROUND-COLOR: yellow"></div></div> </div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The weighted average grant-date fair value of options granted during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.57</div> per share.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Employee Share-Based Compensation (Stock Options)</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>the Company granted stock options to certain non-employee directors and employees to purchase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,766,627</div> shares of common stock. The fair value of each option grant is estimated on the date of the grant using the BSM option pricing model with the weighted average assumptions in the table below.  </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 85%; MARGIN-LEFT: 45pt; MARGIN-RIGHT: 15%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 81%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Risk-free interest rate</div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1.88</div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">–</div></div></td> <td style="WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2.12%</div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 81%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Volatility</div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">85</div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">–</div></div></td> <td style="WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">89%</div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 81%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Dividend yield</div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">None</div></div></td> <td style="WIDTH: 6%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 81%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Expected terms (in years)</div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">5.50</div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">–</div></div></td> <td style="WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">6.25</div></div></td> <td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> </tr> </table> </div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Unrecognized share-based compensation for employee options granted through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>is approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4.4</div> million to be recognized over a remaining weighted average service period of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.0</div> years.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Employee Share-Based Compensation (RSUs)</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>the Company granted to certain non-employee directors <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,176,000</div> restricted stock units, or RSUs. The fair value of each RSU is estimated on the closing market price on the grant date.  </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following summarizes the activity of non-vested RSUs:</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; FONT-SIZE: 10pt; FONT-STYLE: normal; BACKGROUND-COLOR: yellow"></div></div> </div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 80%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 20%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Weighted</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">average</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">grant date</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Number of</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">fair value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">shares</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">per share</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 62%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, December 31, 2016</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">RSUs granted</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,176,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.73 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">RSUs vested</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">RSUs forfeited</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #ffffff"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, June 30, 2017</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,176,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.73 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> </table> </div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> </div></div><div style=" MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Unrecognized share-based compensation for employee RSUs granted through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>is approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$742,000</div> to be recognized over a remaining weighted average service period of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.1</div> years.</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25; BACKGROUND-COLOR: #ffffff"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Nonemployee Share-Based Compensation</div></div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>the Company granted options to purchase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,947,783</div> shares of common stock to consultants. These options were granted in exchange for consulting services to be rendered and vest over the term specified in the grant, which correlates to the period the services are rendered. The Company recorded approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$277,000</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,000</div> for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> respectively, and approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$510,000</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2,000</div> for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> respectively, as nonemployee share-based compensation expense.</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company accounts for share-based compensation arrangements with nonemployees, using the BSM option pricing model, based on the fair value as these instruments vest. Accordingly, at each reporting date, the Company revalues the unearned portion of the share-based compensation and the resulting change in fair value is recognized in the consolidated statements of operations over the period the related services are rendered. The following assumptions were used to value the awards as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017:</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 85%; MARGIN-LEFT: 45pt; MARGIN-RIGHT: 15%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 82%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Risk-free interest rate</div></div></td> <td style="WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" colspan="2"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2.25</div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">– </div></div></td> <td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2.28%</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 82%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">Volatility</td> <td style="WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" colspan="2"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">87%</div></td> <td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 82%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Dividend yield</div></div></td> <td style="WIDTH: 6%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" colspan="2"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">None</div></div></td> <td style="WIDTH: 7%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 82%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Expected terms (in years)</div></div></td> <td style="WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" colspan="2"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">9.1</div></div></td> <td style="WIDTH: 5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">– </div></div></td> <td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">9.5</div></div></td> </tr> </table> </div></div>

-0.01

-0.11

-0.01

-0.19

P3Y

P2Y36D

742000

4400000

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 27pt"><div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>)</div></div></td> <td> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; font-weight: bold;">Fair Value Measurement</div></div></td> </tr> </table> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">     </div></div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The fair value of financial instruments reflects the amounts that the Company estimates to receive in connection with the sale of an asset or paid in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The Company follows a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> levels:</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 54pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> – quoted prices in active markets for identical assets and liabilities</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div><div style=" MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 54pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> – observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 54pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> – unobservable inputs that are supported by little or <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> market activity and that are significant to the fair value of the assets or liabilities.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 54pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company’s money market instruments are classified as Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> because they are valued using observable inputs other than quoted market prices. The Company’s marketable securities consist of available-for-sale securities and are classified as Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> because their value is based on valuation using significant inputs derived from or corroborated by observable market data. </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following table sets forth the fair value of our financial assets measured on a recurring basis as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>and indicates the fair value hierarchy utilized to determine such fair value (in thousands).</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">  </div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 85%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 15%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 1</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 2</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 3</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Total</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash and cash equivalents:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,901 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,901 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Money market instruments</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,711 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,711 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">US government securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">US government agency securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,848 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,848 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total cash and cash equivalents</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,901 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,208 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,109 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 40%; BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Marketable securities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">US government securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total marketable securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> </table> </div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></div> </div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following table sets forth the fair value of our financial assets measured on a recurring basis as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>and indicates the fair value hierarchy utilized to determine such fair value (in thousands).</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 85%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 15%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 1</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 2</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 3</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Total</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Assets:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,352 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,352 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> </table> </div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">  </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As discussed in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> the Company issued warrants to purchase preferred stock in connection with the note agreements to various shareholders as described below. The warrant liabilities were recorded at the fair value on the date of issuance and were remeasured each subsequent balance sheet date and as of the warrant exercise date, with fair value changes recognized as income (decrease in fair value) or expense (increase in fair value) in other income (expense) in the consolidated statements of operations.   <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> warrants are outstanding as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017.</div></div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2015, </div>the Company entered into note agreements with various stockholders of the Company and other lenders for a total of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7.2</div> million, or the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> Notes. As discussed more fully in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,</div> the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> Notes include embedded derivative features that were determined to be a compound embedded derivative requiring bifurcation and separate accounting at estimated fair value. The Company estimated the fair value of the compound embedded derivative utilizing a Monte Carlo simulation model from inception through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2016. </div>The inputs used to determine the estimated fair value of the compound embedded derivative instrument include the probability of an underlying event triggering the redemption event and its timing prior to the maturity date of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> Notes. The fair value measurement is based upon significant inputs <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> observable in the market. These assumptions are inherently subjective and involve significant management judgment. Upon the completion of the Merger, the valuation of the compound embedded derivative was determined based on the settlement value of the common stock exchanged for the notes on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 24, 2016.  </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> notes are outstanding as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017.</div></div></div></div>

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 27pt"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div>)</div></div></td> <td> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; font-weight: bold;">Income Taxes</div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">     </div></div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> there was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div></div> income tax expense or benefit for federal or state income taxes in the accompanying condensed consolidated statement of operations due to the Company’s net loss and a full valuation allowance on the resulting deferred tax assets. </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>the Company retains a full valuation allowance on its deferred tax assets in all jurisdictions. The realization of the Company’s deferred tax assets depends primarily on its ability to generate future taxable income which is uncertain. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe that its deferred tax assets are realizable on a more-likely-than-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> basis; therefore, the net deferred tax assets have been fully offset by a valuation allowance.</div></div></div>

60000

185000

68000

-22000

12000

-15000

82000

37000

58000

-18000

-74000

-98000

557000

1107000

115000

76000

193000

135000

62000

59000

16000

1000

19000

10000

37000

1675000

1500000

17756000

22082000

1607000

1444000

22000

-1896000

-4369000

-1870000

-2945000

-1978000

-5821000

-3474000

<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"><tr><td style="WIDTH: 36pt; VERTICAL-ALIGN: middle"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></div></div></td> <td style="WIDTH: 27pt; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">(g</div></div><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">)</div></div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Recently Adopted Accounting Pronouncement</div></div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 58.5pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;"> </div></div> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2016, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> Compensation - Stock Compensation (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718</div>): Improvements to Employee Share-Based Payment Accounting (ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div>). The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification in the statement of cash flows and forfeitures. The Company adopted ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> effective <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017. </div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 54pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></div></div> <div style=" MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 67.5pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The impact of adopting ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> resulted in the following:</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 67.5pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 12%; VERTICAL-ALIGN: middle"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 3%; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">●</div></div></td> <td style="WIDTH: 85%; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We classified the excess income tax benefits from stock-based compensation arrangement as a discrete item within income tax expense, rather than recognizing such excess income tax benefits in additional paid-in capital. The adoption of this guidance had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> material impact to our condensed consolidated financial statements due to a full valuation allowance recognized against our deferred tax assets.</div></div></td> </tr> </table> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 12%; VERTICAL-ALIGN: middle"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 3%; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">●</div></div></td> <td style="WIDTH: 85%; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We elected to recognize forfeitures as they occur. The cumulative effect adjustment as a result of the adoption of this guidance on a modified retrospective basis was insignificant.</div></div></td> </tr> </table> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 12%; VERTICAL-ALIGN: middle"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 3%; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">●</div></div></td> <td style="WIDTH: 85%; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We applied the change in classification of cash flows resulting from excess tax benefits and cash paid by us when directly withholding shares for tax-withholding purposes on a retrospective basis. The adoption of these provisions did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> result in changes in our condensed consolidated statements of cash flow.</div></div></td> </tr> </table> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 54pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">There were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> other material impacts to our condensed consolidated financial statements as a result of adopting this updated standard.</div></div> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 36pt; VERTICAL-ALIGN: middle"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td style="WIDTH: 27pt; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">(g)</div></div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Recently Issued Accounting Pronouncements</div></div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 20.25pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> Revenue from Contracts with Customers (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>), which provides comprehensive guidance for revenue recognition. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> affects any entity which either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets. The core principle of the guidance provides that a company should recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, qualitative and quantitative disclosures are required about customer contracts, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application in retained earnings. </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2015, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div> Revenue from Contracts with Customers, which deferred the effective date for implementation of the standard. Public entities are to apply the new standard for annual and interim reporting periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2017 </div>and earlier application is permitted only as of annual reporting periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2016, </div>including interim reporting periods within that reporting period. The Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> elected early adoption. The Company has formed a task force that is in process of assessing the Company’s customer contracts and the potential impacts the standard <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have on previously reported revenues and future revenues. Given the relatively small volume of revenue arrangements, the Company believes that the analysis will be completed in sufficient time to adopt the new standard when required. The Company expects to elect the cumulative effect adoption method.</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">  </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2016, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> Leases (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">842</div>), which supersedes existing guidance on accounting for leases in “Leases (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">840</div>)” and generally requires all leases to be recognized in the consolidated balance sheet. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> is effective for annual and interim reporting periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2018; </div>early adoption is permitted. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> plan to elect early adoption. The provisions of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> are to be applied using a modified retrospective approach. The Company is currently assessing the future impact of this ASU on its consolidated financial statements.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 54pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2017, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> Compensation – Stock Compensation (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718</div>) Scope of Modification Accounting. The amendments in ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718.</div> The adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> which will become effective for annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2017, </div>is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> expected to have a material impact on the Company’s consolidated financial statements.</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 63pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -0.35pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, and the American Institute of Certified Public Accountants did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> or are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believed by management to have a material impact on the Company’s financial statement presentation or disclosures.</div></div></div></div></div>

23000

-600000

22000

-1020000

-2968000

-1378000

-5843000

-2454000

54000

-1000

23000

1107000

100000

1796000

0.001

50000000

282000

356000

22000

183000

143000

431000

366000

48000

325000

987000

882000

180000

111000

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 27pt"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div>) </div></div></td> <td> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; font-weight: bold;">Related Party Transactions</div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">    </div></div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2016, </div>the Company granted an option to purchase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,027,726</div> shares of common stock, with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>-year vesting period, to OPKO Health, Inc., or OPKO, as consideration for consulting services to be provided by OPKO in accordance with the consulting agreement entered into between the Company and OPKO. The unearned portion of the share-based compensation related to the OPKO option was revalued at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>and the Company recorded <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$184,000</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$306,000</div> as expense during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>respectively. The term of the consulting agreement is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div> years and will be automatically renewed for successive <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year periods. The chairman and chief executive officer of OPKO is a beneficial owner of more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5%</div> of the outstanding shares of the Company’s common stock and OPKO itself is also a beneficial owner of more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5%</div> of the outstanding shares of the Company’s common stock. </div></div></div>

1295000

497000

2328000

938000

-65963000

-60142000

112000

144000

249000

322000

101000

138000

210000

306000

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 90%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 68%"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 17%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="6"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">June 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 68%"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2017 </div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2016 </div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 68%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stock options to purchase common stock</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 13%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,103,603</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 13%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,464,656 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 68%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Restricted stock units</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,176,000 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">- </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 68%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49,279,603 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,464,656 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> </table></div>

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 85%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 15%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 1</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 2</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 3</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Total</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash and cash equivalents:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,901 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,901 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Money market instruments</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,711 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,711 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">US government securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">US government agency securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,848 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,848 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total cash and cash equivalents</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,901 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,208 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,109 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 40%; BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> <td style="BACKGROUND-COLOR: #cceeff"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Marketable securities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">US government securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total marketable securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 85%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 15%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 1</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 2</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Level 3</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Total</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Assets:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,352 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,352 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> </table></div>

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 80%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 20%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Weighted</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">average</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">grant date</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Number of</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">fair value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">shares</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">per share</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 62%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, December 31, 2016</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">RSUs granted</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,176,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.73 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">RSUs vested</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">RSUs forfeited</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #ffffff"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, June 30, 2017</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,176,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.73 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> </table></div>

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 80%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 20%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="6"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Options outstanding</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Weighted</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">average</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Number of</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">exercise</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">shares</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">price</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 62%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, December 31, 2016</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,903,728 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.15 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stock options granted</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,714,410 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.73 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stock options exercised</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(107,153</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap">) </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.20 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stock options cancelled</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(407,382</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap">) </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.04 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, June 30, 2017</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,103,603 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.23 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> </table></div>

1582000

869000

3386000

1456000

277000

1000

510000

2000

184000

306000

1298000

58000

P4Y

1176000

0.73

1176000

0.73

0.87

0.89

0.85

0.0228

0.0212

0.0225

0.0188

407382

4766627

1947783

5027726

6714410

0.57

41903728

48103603

0.15

0.23

0.20

0.04

0.73

P9Y36D

P9Y182D

P5Y182D

P6Y91D

1796000

107153

16081000

20582000

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 90%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 44%"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Amortized cost</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Unrealized gain</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Unrealized loss</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></td> <td style="FONT-SIZE: 10pt; HEIGHT: 0px; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 0%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Estimated Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 44%; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">US government securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap"> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 44%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total marketable securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">—</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"> </td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,796 </div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" nowrap="nowrap"> </td> </tr> </table></div>

457682784

18723511

457668755

18723511

xbrli:shares xbrli:pure iso4217:USD iso4217:USD xbrli:shares 0000925741 bcda:The2015NotesMember us-gaap:ConvertibleDebtMember 2015-05-01 2015-05-31 0000925741 2016-01-01 2016-06-30 0000925741 us-gaap:EmployeeStockOptionMember 2016-01-01 2016-06-30 0000925741 us-gaap:RestrictedStockUnitsRSUMember 2016-01-01 2016-06-30 0000925741 bcda:CostOfGoodsSoldMember 2016-01-01 2016-06-30 0000925741 us-gaap:ResearchAndDevelopmentExpenseMember 2016-01-01 2016-06-30 0000925741 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2016-01-01 2016-06-30 0000925741 bcda:NonEmployeesMember 2016-01-01 2016-06-30 0000925741 2016-04-01 2016-06-30 0000925741 bcda:CostOfGoodsSoldMember 2016-04-01 2016-06-30 0000925741 us-gaap:ResearchAndDevelopmentExpenseMember 2016-04-01 2016-06-30 0000925741 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2016-04-01 2016-06-30 0000925741 bcda:NonEmployeesMember 2016-04-01 2016-06-30 0000925741 bcda:ConsultingServicesMember bcda:OPKOMember 2016-08-01 2016-08-31 0000925741 bcda:MergerMember bcda:The2015NotesMember us-gaap:ConvertibleDebtMember 2016-10-24 2016-10-24 0000925741 2017-01-01 2017-06-30 0000925741 us-gaap:EmployeeStockOptionMember 2017-01-01 2017-06-30 0000925741 us-gaap:RestrictedStockUnitsRSUMember 2017-01-01 2017-06-30 0000925741 us-gaap:EmployeeStockOptionMember 2017-01-01 2017-06-30 0000925741 us-gaap:EmployeeStockOptionMember us-gaap:MaximumMember 2017-01-01 2017-06-30 0000925741 us-gaap:EmployeeStockOptionMember us-gaap:MinimumMember 2017-01-01 2017-06-30 0000925741 bcda:NonemployeeStockOptionsMember 2017-01-01 2017-06-30 0000925741 bcda:NonemployeeStockOptionsMember us-gaap:MaximumMember 2017-01-01 2017-06-30 0000925741 bcda:NonemployeeStockOptionsMember us-gaap:MinimumMember 2017-01-01 2017-06-30 0000925741 us-gaap:RestrictedStockUnitsRSUMember 2017-01-01 2017-06-30 0000925741 us-gaap:RestrictedStockUnitsRSUMember bcda:NonemployeeDirectorsAndEmployeesMember 2017-01-01 2017-06-30 0000925741 bcda:CostOfGoodsSoldMember 2017-01-01 2017-06-30 0000925741 us-gaap:ResearchAndDevelopmentExpenseMember 2017-01-01 2017-06-30 0000925741 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2017-01-01 2017-06-30 0000925741 bcda:ConsultingServicesMember bcda:OPKOMember 2017-01-01 2017-06-30 0000925741 bcda:ConsultantsMember 2017-01-01 2017-06-30 0000925741 bcda:NonEmployeesMember 2017-01-01 2017-06-30 0000925741 bcda:NonemployeeDirectorsAndEmployeesMember 2017-01-01 2017-06-30 0000925741 2017-04-01 2017-06-30 0000925741 bcda:CostOfGoodsSoldMember 2017-04-01 2017-06-30 0000925741 us-gaap:ResearchAndDevelopmentExpenseMember 2017-04-01 2017-06-30 0000925741 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2017-04-01 2017-06-30 0000925741 bcda:ConsultingServicesMember bcda:OPKOMember 2017-04-01 2017-06-30 0000925741 bcda:NonEmployeesMember 2017-04-01 2017-06-30 0000925741 bcda:The2015NotesMember 2015-05-31 0000925741 bcda:The2015NotesMember us-gaap:ConvertibleDebtMember 2015-05-31 0000925741 2015-12-31 0000925741 2016-06-30 0000925741 bcda:The2015NotesMember us-gaap:ConvertibleDebtMember 2016-08-31 0000925741 bcda:ChairmanAndChiefExecutiveOfficerOfOPKOMember 2016-08-31 0000925741 bcda:OPKOMember 2016-08-31 0000925741 bcda:MergerMember 2016-10-24 0000925741 2016-12-31 0000925741 us-gaap:RestrictedStockUnitsRSUMember 2016-12-31 0000925741 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2016-12-31 0000925741 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2016-12-31 0000925741 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2016-12-31 0000925741 us-gaap:FairValueMeasurementsRecurringMember 2016-12-31 0000925741 bcda:ComputerEquipmentAndSoftwareMember 2016-12-31 0000925741 us-gaap:FurnitureAndFixturesMember 2016-12-31 0000925741 bcda:LaboratoryAndManufacturingEquipmentMember 2016-12-31 0000925741 us-gaap:LeaseholdImprovementsMember 2016-12-31 0000925741 2017-06-30 0000925741 us-gaap:RestrictedStockUnitsRSUMember 2017-06-30 0000925741 us-gaap:CashMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:CashMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:CashMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:CashMember us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:MoneyMarketFundsMember us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember bcda:USStatesAndPoliticalSubdivisionsDebtSecurities1Member 2017-06-30 0000925741 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember bcda:USStatesAndPoliticalSubdivisionsDebtSecurities1Member 2017-06-30 0000925741 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember bcda:USStatesAndPoliticalSubdivisionsDebtSecurities1Member 2017-06-30 0000925741 us-gaap:FairValueMeasurementsRecurringMember 2017-06-30 0000925741 us-gaap:FairValueMeasurementsRecurringMember bcda:USStatesAndPoliticalSubdivisionsDebtSecurities1Member 2017-06-30 0000925741 us-gaap:USStatesAndPoliticalSubdivisionsMember 2017-06-30 0000925741 bcda:ComputerEquipmentAndSoftwareMember 2017-06-30 0000925741 us-gaap:FurnitureAndFixturesMember 2017-06-30 0000925741 bcda:LaboratoryAndManufacturingEquipmentMember 2017-06-30 0000925741 us-gaap:LeaseholdImprovementsMember 2017-06-30 0000925741 2017-08-14

EX-101.SCH 7 bcda-20170630.xsd EXHIBIT 101.SCH 000 - Document - Document And Entity Information link:calculationLink link:definitionLink link:presentationLink 001 - Statement - Condensed Consolidated Balance Sheets (Current Period Unaudited) link:calculationLink link:definitionLink link:presentationLink 002 - Statement - Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) link:calculationLink link:definitionLink link:presentationLink 003 - Statement - Condensed Consolidated Statements of Operations (Unaudited) link:calculationLink link:definitionLink link:presentationLink 004 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:calculationLink link:definitionLink link:presentationLink 005 - Disclosure - Note 1 - Summary of Business and Basis of Presentation link:calculationLink link:definitionLink link:presentationLink 006 - Disclosure - Note 2 - Significant Accounting Policies link:calculationLink link:definitionLink link:presentationLink 007 - Disclosure - Note 3 - Fair Value Measurement link:calculationLink link:definitionLink link:presentationLink 008 - Disclosure - Note 4 - Investments link:calculationLink link:definitionLink link:presentationLink 009 - Disclosure - Note 5 - Inventories link:calculationLink link:definitionLink link:presentationLink 010 - Disclosure - Note 6 - Property and Equipment, Net link:calculationLink link:definitionLink link:presentationLink 011 - Disclosure - Note 7 - Accrued Expenses and Other Current Liabilities link:calculationLink link:definitionLink link:presentationLink 012 - Disclosure - Note 8 - Convertible Notes link:calculationLink link:definitionLink link:presentationLink 013 - Disclosure - Note 9 - Share-based Compensation link:calculationLink link:definitionLink link:presentationLink 015 - Disclosure - Note 11 - Income Taxes link:calculationLink link:definitionLink link:presentationLink 017 - Disclosure - Significant Accounting Policies (Policies) link:calculationLink link:definitionLink link:presentationLink 018 - Disclosure - Note 3 - Fair Value Measurement (Tables) link:calculationLink link:definitionLink link:presentationLink 019 - Disclosure - Note 4 - Investments (Tables) link:calculationLink link:definitionLink link:presentationLink 020 - Disclosure - Note 5 - Inventories (Tables) link:calculationLink link:definitionLink link:presentationLink 021 - Disclosure - Note 6 - Property and Equipment, Net (Tables) link:calculationLink link:definitionLink link:presentationLink 022 - Disclosure - Note 7 - Accrued Expenses and Other Current Liabilities (Tables) link:calculationLink link:definitionLink link:presentationLink 023 - Disclosure - Note 9 - Share-based Compensation (Tables) link:calculationLink link:definitionLink link:presentationLink 025 - Disclosure - Note 1 - Summary of Business and Basis of Presentation (Details Textual) link:calculationLink link:definitionLink link:presentationLink 026 - Disclosure - Note 2 - Significant Accounting Policies (Details Textual) link:calculationLink link:definitionLink link:presentationLink 027 - Disclosure - Note 3 - Fair Value Measurement (Details Textual) link:calculationLink link:definitionLink link:presentationLink 028 - Disclosure - Note 3 - Fair Value Measurement - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) link:calculationLink link:definitionLink link:presentationLink 029 - Disclosure - Note 4 - Investments (Details Textual) link:calculationLink link:definitionLink link:presentationLink 030 - Disclosure - Note 4 - Investments - Summary of Cash Equivalents and Marketable Securities (Details) link:calculationLink link:definitionLink link:presentationLink 031 - Disclosure - Note 5 - Inventories (Details Textual) link:calculationLink link:definitionLink link:presentationLink 032 - Disclosure - Note 5 - Inventories - Inventories (Details) link:calculationLink link:definitionLink link:presentationLink 033 - Disclosure - Note 6 - Property and Equipment, Net (Details Textual) link:calculationLink link:definitionLink link:presentationLink 034 - Disclosure - Note 6 - Property and Equipment, Net - Property and Equipment, Net (Details) link:calculationLink link:definitionLink link:presentationLink 035 - Disclosure - Note 7 - Accrued Expenses and Other Current Liabilities - Accrued Liabilities and Other Current Liabilities (Details) link:calculationLink link:definitionLink link:presentationLink 036 - Disclosure - Note 8 - Convertible Notes (Details Textual) link:calculationLink link:definitionLink link:presentationLink 037 - Disclosure - Note 9 - Share-based Compensation (Details Textual) link:calculationLink link:definitionLink link:presentationLink 038 - Disclosure - Note 9 - Share-based Compensation - Share-based Compensation Expense (Details) link:calculationLink link:definitionLink link:presentationLink 039 - Disclosure - Note 9 - Share-based Compensation - Stock Option Activity (Details) link:calculationLink link:definitionLink link:presentationLink 040 - Disclosure - Note 9 - Share-based Compensation - Valuation Assumptions for Employee Stock Options (Details) link:calculationLink link:definitionLink link:presentationLink 041 - Disclosure - Note 9 - Share-based Compensation - Summary of Non-vested RSUs (Details) link:calculationLink link:definitionLink link:presentationLink 042 - Disclosure - Note 9 - Share-based Compensation - Nonemployee Stock Option Valuation Assumptions (Details) link:calculationLink link:definitionLink link:presentationLink 044 - Disclosure - Note 11 - Income Taxes (Details Textual) link:calculationLink link:definitionLink link:presentationLink EX-101.CAL 8 bcda-20170630_cal.xml EXHIBIT 101.CAL EX-101.DEF 9 bcda-20170630_def.xml EXHIBIT 101.DEF EX-101.LAB 10 bcda-20170630_lab.xml EXHIBIT 101.LAB Document And Entity Information Note To Financial Statement Details Textual statementsignificantaccountingpoliciespolicies statementnote3fairvaluemeasurementtables statementnote4investmentstables statementnote5inventoriestables statementnote6propertyandequipmentnettables statementnote7accruedexpensesandothercurrentliabilitiestables statementnote9sharebasedcompensationtables statementnote10netlosspersharetables statementnote3fairvaluemeasurementfairvalueofassetsandliabilitiesmeasuredonarecurringbasisdetails statementnote4investmentssummaryofcashequivalentsandmarketablesecuritiesdetails statementnote5inventoriesinventoriesdetails statementnote6propertyandequipmentnetpropertyandequipmentnetdetails statementnote7accruedexpensesandothercurrentliabilitiesaccruedliabilitiesandothercurrentliabilitiesdetails us-gaap_Revenues Total revenue statementnote9sharebasedcompensationsharebasedcompensationexpensedetails statementnote9sharebasedcompensationstockoptionactivitydetails statementnote9sharebasedcompensationvaluationassumptionsforemployeestockoptionsdetails statementnote9sharebasedcompensationsummaryofnonvestedrsusdetails statementnote9sharebasedcompensationnonemployeestockoptionvaluationassumptionsdetails Marketable securities statementnote10netlosspershareantidilutivesecuritiesdetails Notes To Financial Statements Notes To Financial Statements [Abstract] us-gaap_NotesPayable Notes Payable Fair Value, Inputs, Level 2 [Member] Fair Value, Inputs, Level 1 [Member] Fair Value, Inputs, Level 3 [Member] Investing activities: Proceeds from the exercise of stock options Fair Value Hierarchy [Domain] Fair Value, Hierarchy [Axis] Investment, Policy [Policy Text Block] Equity Component [Domain] Equity Components [Axis] Money Market Funds [Member] Cash [Member] Cash and Cash Equivalents [Domain] Deferred revenue us-gaap_IncreaseDecreaseInDeferredRevenue Cash and Cash Equivalents [Axis] Preferred stock, shares outstanding (in shares) Use of Estimates, Policy [Policy Text Block] Common stock, shares outstanding (in shares) New Accounting Pronouncements, Policy [Policy Text Block] Related Party Transaction [Domain] Related Party Transaction [Axis] Antidilutive securities (in shares) Weighted-average shares used in computing net loss per share, basic and diluted (in shares) Accounts payable us-gaap_IncreaseDecreaseInAccountsPayable Net loss per share, basic and diluted (in dollars per share) us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax Marketable securities, unrealized loss Marketable securities, unrealized gain Marketable securities, amortized cost Consolidation, Policy [Policy Text Block] Related Party [Axis] Related Party [Domain] Cash and cash equivalents Cash and Cash Equivalents, at Carrying Value Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period us-gaap_DebtConversionConvertedInstrumentSharesIssued1 Debt Conversion, Converted Instrument, Shares Issued Selling, General and Administrative Expenses [Member] Scenario, Unspecified [Domain] Deferred rent us-gaap_IncreaseDecreaseInDeferredLiabilities Scenario [Axis] Debt Disclosure [Text Block] Change in fair value of maturity date preferred stock warrant liability Change in fair value of maturity date preferred stock warrant liability Represents the change in fair value of the maturity date preferred stock warrant liability recognized during the period as nonoperating income or expense. Change in fair value of convertible shareholder notes derivative liability Change in fair value of convertible shareholder notes derivative liability Represents the change in fair value of the convertible shareholder notes derivative liability recognized during the period as nonoperating income or expense. Change in fair value of convertible preferred stock warrant liability Change in fair value of convertible preferred stock warrant liability Represents the change in fair value of the convertible preferred stock warrant liability recognized during the period as nonoperating income or expense. Income Statement Location [Domain] Income Statement Location [Axis] Research and Development Expense [Member] Maximum [Member] Basis of Accounting, Policy [Policy Text Block] Range [Domain] Minimum [Member] Significant Accounting Policies [Text Block] Range [Axis] Accounting Policies [Abstract] Statement of Financial Position [Abstract] Relationship to Entity [Domain] Title of Individual [Axis] us-gaap_IncreaseDecreaseInPrepaidExpense Prepaid expenses Statement of Cash Flows [Abstract] Employee share-based compensation expense us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised Stock options exercised (in shares) Supplemental disclosures for noncash investing activity: Unrealized Gain (Loss) on Investments [Table Text Block] us-gaap_ImpairmentOfInvestments Other than Temporary Impairment Losses, Investments us-gaap_IncreaseDecreaseInAccountsReceivable Accounts receivable us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod Stock options cancelled (in shares) Stock options granted (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross Accrued expenses and other current liabilities Total Amount of accrued liabilities and liabilities classified as other, due within one year or the normal operating cycle, if longer. Accrued expenses and other current liabilities, excluding accrued interest on convertible note The increase (decrease) during the reporting period in accrued expenses and other liabilities, excluding accrued interest. Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] Non-employee Directors and Employees [Member] Related to certain non-directors and employees. Schedule of Accrued Liabilities and Other Current Liabilities [Table Text Block] Tabular disclosure of the components of accrued liabilities and other current liabilities. Accrued Liabilities and Other Current Liabilities Disclosure [Text Block] The entire disclosure for accrued liabilities and other current liabilities at the end of the reporting period. Grant liability Amount of obligations incurred for grants, payable within one year or the normal operating cycle, if longer. us-gaap_LiabilitiesAndStockholdersEquity Total liabilities and stockholders’ equity us-gaap_IncomeTaxExpenseBenefit Income Tax Expense (Benefit) Accrued clinical trial costs Current portion of clinical costs accrued by the company. Accumulated deficit Retained Earnings (Accumulated Deficit) Net product revenue us-gaap_PolicyTextBlockAbstract Accounting Policies us-gaap_IncreaseDecreaseInInventories Inventory U.S. States and Political Subdivisions Debt Securities [Member] Bonds or similar securities issued by state, city, or local US governments or the agencies operated by state, city, or local governments. Debt securities issued by state governments may include bond issuances of US state authorities including, for example, but not limited to, housing authorities, dormitory authorities, and general obligations while debt securities issued by political subdivisions of US states would include, for example, debt issuances by county, borough, city, or municipal governments. Revenue: US States and Political Subdivisions Debt Securities [Member] Deferred rent Major Types of Debt and Equity Securities [Domain] Statement [Table] Merger [Member] Represents information pertaining to the closing of the merger, pursuant to which Icicle Acquisition Corp ("Icicle"), the wholly-owned subsidiary of Tiger X, merged with and into BioCardia, with BioCardia continuing as the surviving company. Major Types of Debt and Equity Securities [Axis] bcda_BusinessCombinationPercentageOfCombinedCompanyOwnedByAcquirerImmediatelyAfterMerger Business Combination, Percentage of Combined Company Owned By Acquirer Immediately After Merger Represents the percentage of the combined company held by the acquirer (on a fully diluted basis) immediately following the closing of the merger transaction. bcda_BusinessCombinationNumberOfSharesOfPostMergerEntityForEachShareOfPreMergerEntity Business Combination, Number of Shares of Post-merger Entity for Each Share of Pre-merger Entity Represents the number of shares of the post-merger entity for which one share of the pre-merger entity may be received. Income Statement [Abstract] Financing activities: Class of Stock [Axis] Award Type [Axis] Equity Award [Domain] Investment [Text Block] us-gaap_DisclosureTextBlockAbstract Notes to Financial Statements Customer deposits us-gaap_LiabilitiesCurrent Total current liabilities Raw materials Finished goods us-gaap_NonoperatingIncomeExpense Total other income (expense), net Other income (expense), net Fair Value, Measurements, Recurring [Member] Work in process Fair Value, Measurement Frequency [Domain] Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] Measurement Frequency [Axis] Changes in operating assets and liabilities: Share-based Compensation, Stock Options, Activity [Table Text Block] Property, Plant and Equipment [Table Text Block] The 2015 Notes [Member] Represents information pertaining to note agreements with various stockholders and other lenders entered into in May 2015. Risk-free interest rate, maximum Risk-free interest rate, maximum Property, Plant and Equipment Disclosure [Text Block] Dividend yield Dividend yield Non-cash interest expense on convertible shareholder notes Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] Risk-free interest rate, minimum Risk-free interest rate, minimum us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate Volatility Other income (expense): Volatility, minimum us-gaap_OperatingIncomeLoss Operating loss Deferred revenue Volatility, maximum us-gaap_DeferredTaxLiabilities Deferred Tax Liabilities, Net Schedule of Inventory, Current [Table Text Block] Inventory Disclosure [Text Block] Interest income Expected terms (Year) Expected terms (Year) Amendment Flag us-gaap_InventoryWriteDown Inventory Write-down Common stock, $0.001 par value, 750,000,000 shares authorized at June 30, 2017 and December 31, 2016, 457,682,784 shares and 457,575,631 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively Convertible Debt [Member] RSUs forfeited (in dollars per share) Common stock, shares authorized (in shares) RSUs vested (in dollars per share) Common stock, shares issued (in shares) Other assets us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue Balance (in dollars per share) Balance (in dollars per share) Going Concern and Liquidity [Policy Text Block] Disclosure of accounting policy for reporting when there is, or is not, a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date). Disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. If management's plans alleviate the substantial doubt about the entity's ability to continue as a going concern, disclosure of the principal conditions and events that initially raised the substantial doubt about the entity's ability to continue as a going concern would be expected to be considered. Disclose whether operations for the current or prior years generated sufficient cash to cover current obligations, whether waivers were obtained from creditors relating to the company's default under the provisions of debt agreements and possible effects of such conditions and events, such as: whether there is a possible need to obtain additional financing (debt or equity) or to liquidate certain holdings to offset future cash flow deficiencies. Disclose appropriate parent company information when parent is dependent upon remittances from subsidiaries to satisfy its obligations. us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber Balance (in shares) Balance (in shares) Common stock, par value (in dollars per share) Income Tax Disclosure [Text Block] Collaboration agreement revenue Revenue earned from collaboration agreements that the company has entered into with another entity. Stock based compensation Share-based Compensation RSUs granted (in dollars per share) RSUs granted (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period RSUs forfeited (in shares) Current Fiscal Year End Date us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod RSUs vested (in shares) Cost of Goods Sold [Member] Related to the cost of goods sold. bcda_DebtInstrumentConvertibleAutomaticConversionOfPrincipleAndAccruedInterestIntoSharesOfCommonStockPercentageOfPriceOfSharesPurchasedInIPO Debt Instrument, Convertible, Automatic Conversion of Principle and Accrued Interest into Shares of Common Stock, Percentage of Price of Shares Purchased in IPO Represents the percentage of the price of the shares of common stock purchased in an IPO, at which the outstanding principle and accrued interest of a convertible debt instrument automatically convert into shares of common stock. Computer Equipment and Software [Member] Related to computer equipment and software. Document Fiscal Period Focus Document Fiscal Year Focus Laboratory and Manufacturing Equipment [Member] Related to laboratory and manufacturing equipment. bcda_DebtInstrumentConvertibleOptionalConversionRightTriggerPrivatePlacementOfPreferredStockAggregateSalesProceeds Debt Instrument, Convertible, Optional Conversion Right, Trigger, Private Placement of Preferred Stock, Aggregate Sales Proceeds Represents the aggregate sales proceeds in a private placement of preferred stock which, if equaled or exceeded, will trigger the Optional Conversion Right, under which the outstanding principle and interest on the convertible debt instrument may be converted into shares of the preferred stock. Document Period End Date Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding at June 30, 2017 and December 31, 2016 Preferred stock, shares issued (in shares) bcda_DebtInstrumentConvertibleOptionalConversionRightConversionPricePercentageOfThePriceOfThePreferredShares Debt Instrument, Convertible, Optional Conversion Right, Conversion Price, Percentage of the Price of the Preferred Shares Represents the percentage of the price of the preferred shares which is used to calculate the conversion price of the Optional Conversion Right, under which the outstanding principle and interest on the convertible debt instrument may be converted into shares of the preferred stock. bcda_DebtInstrumentConvertibleOptionalConversionRightWarrantCoveragePercent Debt Instrument, Convertible, Optional Conversion Right, Warrant Coverage, Percent Represents the percentage of warrant coverage under the Optional Conversion Right, under which the outstanding principle and interest on the convertible debt instrument may be converted into shares of the preferred stock. Document Type Depreciation and amortization Preferred stock, shares authorized (in shares) us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value bcda_DebtInstrumentConvertibleOptionalConversionRightAtMaturityWarrantCoveragePercent Debt Instrument, Convertible, Optional Conversion Right at Maturity, Warrant Coverage, Percent Represents the percentage of warrant coverage under the Optional Conversion Right, if the instrument is held to maturity, under which the outstanding principle and interest on the convertible debt instrument may be converted into shares of the preferred stock. EX-101.PRE 11 bcda-20170630_pre.xml EXHIBIT 101.PRE XML 12 R1.htm IDEA: XBRL DOCUMENT

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2017	Aug. 14, 2017
Document Information [Line Items]
Entity Registrant Name	BioCardia, Inc.
Entity Central Index Key	0000925741
Trading Symbol	bcda
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		457,818,571
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
Amendment Flag	false

XML 13 R2.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 15,109	$ 21,352
Accounts receivable, net of allowance for doubtful accounts of $1 and $2 at June 30, 2017 and December 31, 2016, respectively	142	74
Inventory	193	135
Short-term investments	1,796
Prepaid expenses	282	356
Total current assets	17,522	21,917
Property and equipment, net	180	111
Other assets	54	54
Total assets	17,756	22,082
Current liabilities:
Accounts payable	590	525
Accrued expenses and other current liabilities	864	848
Deferred revenue	153	71
Total current liabilities	1,607	1,444
Deferred rent	68	56
Total liabilities	1,675	1,500
Stockholders’ equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding at June 30, 2017 and December 31, 2016
Common stock, $0.001 par value, 750,000,000 shares authorized at June 30, 2017 and December 31, 2016, 457,682,784 shares and 457,575,631 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	458	458
Additional paid-in capital	81,586	80,266
Accumulated deficit	(65,963)	(60,142)
Total stockholders’ equity	16,081	20,582
Total liabilities and stockholders’ equity	$ 17,756	$ 22,082

XML 14 R3.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 1	$ 2
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	457,682,784	457,575,631
Common stock, shares outstanding (in shares)	457,682,784	457,575,631

XML 15 R4.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue:
Net product revenue	$ 101,000	$ 138,000	$ 210,000	$ 306,000
Collaboration agreement revenue	11,000	6,000	39,000	16,000
Total revenue	112,000	144,000	249,000	322,000
Costs and expenses:
Cost of goods sold	203,000	156,000	378,000	382,000
Research and development	1,295,000	497,000	2,328,000	938,000
Selling, general and administrative	1,582,000	869,000	3,386,000	1,456,000
Total costs and expenses	3,080,000	1,522,000	6,092,000	2,776,000
Operating loss	(2,968,000)	(1,378,000)	(5,843,000)	(2,454,000)
Other income (expense):
Interest income	23,000		23,000
Interest expense	0	(557,000)	0	(1,107,000)
Change in fair value of convertible preferred stock warrant liability		167,000		220,000
Change in fair value of maturity date preferred stock warrant liability		8,000		7,000
Change in fair value of convertible shareholder notes derivative liability		(217,000)		(139,000)
Other income (expense), net		(1,000)	(1,000)	(1,000)
Total other income (expense), net	23,000	(600,000)	22,000	(1,020,000)
Net loss	$ (2,945,000)	$ (1,978,000)	$ (5,821,000)	$ (3,474,000)
Net loss per share, basic and diluted (in dollars per share)	$ (0.01)	$ (0.11)	$ (0.01)	$ (0.19)
Weighted-average shares used in computing net loss per share, basic and diluted (in shares)	457,682,784	18,723,511	457,668,755	18,723,511

XML 16 R5.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities:
Net loss	$ (5,821)	$ (3,474)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	36	21
Change in fair value of convertible preferred stock warrant liability		(220)
Change in fair value of maturity date preferred stock warrant liability		(7)
Change in fair value of convertible shareholder notes derivative liability		139
Stock based compensation	1,298	58
Non-cash interest expense on convertible shareholder notes		1,107
Changes in operating assets and liabilities:
Accounts receivable	(68)	22
Inventory	(58)	18
Prepaid expenses	74	98
Accounts payable	60	185
Accrued expenses and other current liabilities, excluding accrued interest on convertible note	16	161
Deferred revenue	82	37
Deferred rent	12	(15)
Net cash used in operating activities	(4,369)	(1,870)
Investing activities:
Purchase of property and equipment	(100)
Purchase of short-term investments	(1,796)
Net cash used in investing activities	(1,896)
Financing activities:
Proceeds from the exercise of stock options	22
Net cash provided by financing activities	22
Net decrease in cash and cash equivalents	(6,243)	(1,870)
Cash and cash equivalents at beginning of period	21,352	3,557
Cash and cash equivalents at end of period	15,109	1,687
Supplemental disclosures for noncash investing activity:
Accounts payable recognized for the purchase of equipment	$ 5

XML 17 R6.htm IDEA: XBRL DOCUMENT

Note 1 - Summary of Business and Basis of Presentation

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Business Description and Basis of Presentation [Text Block]

(

)

ummary of Business and Basis of Presentation

(a)

Description of Business

second

therapeutic candidate is the CardiALLO cell therapy system. To date the Company has devoted substantially all of its resources to research and development efforts relating to its therapeutic candidates and biotherapeutic delivery systems including conducting clinical trials, developing manufacturing and sales capabilities, in-licensing related intellectual property, providing general and administrative support for these operations and protecting its intellectual property.

The Company has

three

enabling device product lines: (

) the CardiAMP cell processing system; (

) the Helix biotherapeutic delivery system, or Helix; and (

) the Morph vascular access product line, or Morph. The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions.

(b)

Reverse Merger

August 22, 2016,

the Company, its wholly-owned subsidiary, Icicle Acquisition Corp, and BioCardia Lifesciences, Inc., or BioCardia Lifesciences (at the time named BioCardia, Inc.), entered into an Agreement and Plan of Merger, or the Merger Agreement. The transactions contemplated by the Merger Agreement closed on

October 24, 2016,

pursuant to which Icicle Acquisition Corp. merged with and into BioCardia Lifesciences, with BioCardia Lifesciences continuing as the surviving company, or the Merger. BioCardia Lifesciences was determined to be the accounting acquirer in the Merger based upon the terms of the Merger and other factors, including: (i) former BioCardia Lifesciences security holders owned approximately

54%

of the combined company (on a fully diluted basis) immediately following the closing of the Merger, (ii) former BioCardia Lifesciences directors hold the majority of the board seats in the combined company, and (iii) former BioCardia Lifesciences management holds all of the key positions in the management of the combined company. Following the completion of the Merger, the Company changed its name to BioCardia, Inc.

Exchange Ratio

19.3678009

shares of Company common stock, or the Exchange Ratio. The accompanying condensed consolidated financial statements and notes to the condensed consolidated financial statements give retroactive effect to the capital structure as a result of the Merger.

XML 18 R7.htm IDEA: XBRL DOCUMENT

Note 2 - Significant Accounting Policies

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Significant Accounting Policies [Text Block]

(

)

Significant Accounting Policies

(a)

Basis of Preparation

The accompanying condensed consolidated balance sheets, statements of operations, comprehensive loss and cash flows as of

June 30, 2017

and for the

three

and

six

months ended

June 30, 2017

and

2016

are unaudited. The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information and on a basis consistent with the annual financial statements and, in the opinion of management, reflect all adjustments which include only normal recurring adjustments, necessary to present fairly our financial position as of

June 30, 2017,

results of operations for the

three

and

six

months ended

June 30, 2017

and

2016,

and cash flows for the

six

months ended

June 30, 2017

and

2016.

The results for the

three

and

six

months ended

June 30, 2017

are

not

necessarily indicative of the results to be expected for the year ending

December 31, 2017

or for any other interim period or for any other future year.

These condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s Annual Report on Form

-K for the year ended

December 31, 2016,

filed with the SEC on

March 30, 2017.

(b)

Liquidity

The Company has incurred net losses and negative cash flows from operations since its inception and had an accumulated deficit of

$66

million as of

June 30, 2017.

Management expects operating losses and negative cash flows to continue through at least the next several years.

Based on management’s current plans, management believes cash and cash equivalents of

$15.1

million and short-term investments of

$1.8

million as of

June 30, 2017

are sufficient to fund the Company into the

third

quarter of

2018.

In order to continue to further the development of the Company’s lead therapeutic candidate, the CardiAMP cell therapy system, and the Company’s

second

therapeutic candidate, the CardiALLO cell therapy system, through and beyond

2018,

we will be required to raise additional capital. The Company plans to raise additional capital, potentially including debt and equity arrangements, to finance its future operations. If adequate funds are

not

available, the Company

may

be required to reduce operating expenses, delay or reduce the scope of its product development programs, obtain funds through arrangements with others that

may

require the Company to relinquish rights to certain of its technologies or products that the Company would otherwise seek to develop or commercialize itself, or cease operations. While the Company believes in the viability of its strategy to raise additional funds, there can be

assurances to that effect.

(c)

Use of Estimates

(d)

Principles of Consolidation

(e)

Significant Accounting Policies

The Company’s significant accounting policies are described in Note

of the notes to the financial statements included in the Company’s

2016

Form

-K. There have been

changes to those policies except as described below.

)

Investments

Short-term investments consist of debt securities classified as available-for-sale and have maturities greater than

days, but less than

365

days from the date of acquisition. All investments are carried at fair value based upon quoted market prices. Unrealized gains and losses on available-for-sale securities are excluded from earnings and are reported as a component of accumulated other comprehensive loss. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method and recorded in other income (expense), net on the accompanying unaudited condensed consolidated statements of operations. The Company periodically evaluates these investments for other-than-temporary impairment.

)

Recently Adopted Accounting Pronouncement

March 2016,

the FASB issued ASU

2016

09,

Compensation - Stock Compensation (Topic

718

): Improvements to Employee Share-Based Payment Accounting (ASU

2016

). The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification in the statement of cash flows and forfeitures. The Company adopted ASU

2016

effective

January 1, 2017.

The impact of adopting ASU

2016

resulted in the following:

●

material impact to our condensed consolidated financial statements due to a full valuation allowance recognized against our deferred tax assets.

●

We elected to recognize forfeitures as they occur. The cumulative effect adjustment as a result of the adoption of this guidance on a modified retrospective basis was insignificant.

●

not

result in changes in our condensed consolidated statements of cash flow.

There were

other material impacts to our condensed consolidated financial statements as a result of adopting this updated standard.

(g)

Recently Issued Accounting Pronouncements

May 2014,

the FASB issued ASU

No.

2014

09,

Revenue from Contracts with Customers (Topic

606

), which provides comprehensive guidance for revenue recognition. ASU

2014

affects any entity which either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets. The core principle of the guidance provides that a company should recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, qualitative and quantitative disclosures are required about customer contracts, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application in retained earnings.

August 2015,

the FASB issued ASU

2015

Revenue from Contracts with Customers, which deferred the effective date for implementation of the standard. Public entities are to apply the new standard for annual and interim reporting periods beginning after

December 15, 2017

and earlier application is permitted only as of annual reporting periods beginning after

December 15, 2016,

including interim reporting periods within that reporting period. The Company has

not

elected early adoption. The Company has formed a task force that is in process of assessing the Company’s customer contracts and the potential impacts the standard

may

have on previously reported revenues and future revenues. Given the relatively small volume of revenue arrangements, the Company believes that the analysis will be completed in sufficient time to adopt the new standard when required. The Company expects to elect the cumulative effect adoption method.

February 2016,

the FASB issued ASU

2016

Leases (Topic

842

), which supersedes existing guidance on accounting for leases in “Leases (Topic

840

)” and generally requires all leases to be recognized in the consolidated balance sheet. ASU

2016

is effective for annual and interim reporting periods beginning after

December 15, 2018;

early adoption is permitted. The Company does

not

plan to elect early adoption. The provisions of ASU

2016

are to be applied using a modified retrospective approach. The Company is currently assessing the future impact of this ASU on its consolidated financial statements.

May 2017,

the FASB issued ASU

2017

Compensation – Stock Compensation (Topic

718

) Scope of Modification Accounting. The amendments in ASU

2017

provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic

718.

The adoption of ASU

2017

09,

which will become effective for annual periods beginning after

December 15, 2017,

not

expected to have a material impact on the Company’s consolidated financial statements.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, and the American Institute of Certified Public Accountants did

not

or are

not

believed by management to have a material impact on the Company’s financial statement presentation or disclosures.

XML 19 R8.htm IDEA: XBRL DOCUMENT

Note 3 - Fair Value Measurement

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Fair Value Disclosures [Text Block]

(

)

Fair Value Measurement

three

levels:

Level

– quoted prices in active markets for identical assets and liabilities

Level

– observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are

not

active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities

Level

– unobservable inputs that are supported by little or

market activity and that are significant to the fair value of the assets or liabilities.

The Company’s money market instruments are classified as Level

because they are valued using observable inputs other than quoted market prices. The Company’s marketable securities consist of available-for-sale securities and are classified as Level

because their value is based on valuation using significant inputs derived from or corroborated by observable market data.

The following table sets forth the fair value of our financial assets measured on a recurring basis as of

June 30, 2017

and indicates the fair value hierarchy utilized to determine such fair value (in thousands).

	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash	$	3,901	$	—	$	—	$	3,901
Money market instruments		—		8,711		—		8,711
US government securities		—		649		—		649
US government agency securities		—		1,848		—		1,848
Total cash and cash equivalents	$	3,901	$	11,208	$	—	$	15,109

Marketable securities:
US government securities		—		1,796		—		1,796
Total marketable securities	$	—	$	1,796	$	—	$	1,796

The following table sets forth the fair value of our financial assets measured on a recurring basis as of

December 31, 2016

and indicates the fair value hierarchy utilized to determine such fair value (in thousands).

	Level 1		Level 2		Level 3		Total
Assets:
Cash	$	21,352	$	—	$	—	$	21,352

As discussed in Note

2015,

the Company issued warrants to purchase preferred stock in connection with the note agreements to various shareholders as described below. The warrant liabilities were recorded at the fair value on the date of issuance and were remeasured each subsequent balance sheet date and as of the warrant exercise date, with fair value changes recognized as income (decrease in fair value) or expense (increase in fair value) in other income (expense) in the consolidated statements of operations.

warrants are outstanding as of

June 30, 2017.

May 2015,

the Company entered into note agreements with various stockholders of the Company and other lenders for a total of

$7.2

million, or the

2015

Notes. As discussed more fully in Note

the

2015

Notes include embedded derivative features that were determined to be a compound embedded derivative requiring bifurcation and separate accounting at estimated fair value. The Company estimated the fair value of the compound embedded derivative utilizing a Monte Carlo simulation model from inception through

June 30, 2016.

The inputs used to determine the estimated fair value of the compound embedded derivative instrument include the probability of an underlying event triggering the redemption event and its timing prior to the maturity date of the

2015

Notes. The fair value measurement is based upon significant inputs

not

observable in the market. These assumptions are inherently subjective and involve significant management judgment. Upon the completion of the Merger, the valuation of the compound embedded derivative was determined based on the settlement value of the common stock exchanged for the notes on

October 24, 2016.

notes are outstanding as of

June 30, 2017.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 20 R9.htm IDEA: XBRL DOCUMENT

Note 4 - Investments

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Investment [Text Block]

(

)

Investments

The following table summarizes the estimated value of the Company’s cash equivalents and marketable securities and the gross unrealized gains and losses as of

June 30, 2017 (

in thousands):

	Amortized cost		Unrealized gain		Unrealized loss		Estimated Fair Value
US government securities	$	1,796	$	—	$	—	$	1,796
Total marketable securities	$	1,796	$	—	$	—	$	1,796

As of

June 30, 2017,

the contractual maturity of the available-for-sale marketable securities is less than

one

year. There was

other-than-temporary impairment recognized during the

6 months ended

June 30, 2017.

XML 21 R10.htm IDEA: XBRL DOCUMENT

Note 5 - Inventories

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Inventory Disclosure [Text Block]

(

)

Inventories

Inventories are stated at the lower of cost or net realizable value using the average cost method. Inventories consist of the following (in thousands):

	June 30, 2017		December 31, 2016
Raw materials	$	62		59
Work in process		16		—
Finished goods		115		76
Total	$	193		135

may

result in recording additional write downs for excess or expired inventory in the future. Charges to cost of goods sold for inventory write-downs, scrap, shrinkage and expired inventories totaled approximately

$1,000

and

$19,000

for the

three

months ended

June 30, 2017

and

2016,

respectively, and approximately

$10,000

and

$37,000

for the

six

months ended

June 30, 2017

and

2016,

respectively.

XML 22 R11.htm IDEA: XBRL DOCUMENT

Note 6 - Property and Equipment, Net

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

(

)

Property and Equipment, Net

Property and equipment, net consist of the following (in thousands):

	June 30, 2017			December 31, 2016
Computer equipment and software	$	183			143
Laboratory and manufacturing equipment		431			366
Furniture and fixtures		48			48
Leasehold improvements		325			325
Property and equipment, gross		987			882
Less accumulated depreciation		(807	)		(771	)
Property and equipment, net	$	180			111

Depreciation expense totaled approximately

$23,000

and

$11,000

for the

three

months ended

June 30, 2017

and

2016,

respectively, and approximately

$36,000

and

$21,000

for the

six

months ended

June 30, 2017

and

2016,

respectively.

XML 23 R12.htm IDEA: XBRL DOCUMENT

Note 7 - Accrued Expenses and Other Current Liabilities

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Accrued Liabilities and Other Current Liabilities Disclosure [Text Block]

(

)

Accrued

Expenses and Other Current

Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):

	June 30, 2017		December 31, 2016
Accrued expenses	$	406		478
Accrued clinical trial costs		126		—
Grant liability		269		304
Customer deposits		63		66
Total	$	864		848

XML 24 R13.htm IDEA: XBRL DOCUMENT

Note 8 - Convertible Notes

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Debt Disclosure [Text Block]

(

)

Convertible Notes

May 2015,

BioCardia Lifesciences entered into note agreements with various stockholders of BioCardia Lifesciences and other lenders for a total of

$7.2

million, or the

2015

Notes. The

2015

Notes accrued

annual simple interest, matured

months from the issue date and were callable after the maturity date by written demand of a majority of the holders of the outstanding note principle. If BioCardia Lifesciences closed an effective registration statement filed under the Securities Act of

1933,

as amended, covering the sale of BioCardia Lifesciences common stock (an IPO) prior to maturity, the outstanding principle and accrued interest would have automatically converted into shares of common stock at

80%

of the price of the shares of common stock purchased in the IPO. If at any time prior to the maturity date, the Company closed a private placement of the Company’s preferred stock for aggregate sales proceeds of at least

$5.0

million excluding note conversions, at the note holder’s option, or the Optional Conversion Right, the outstanding principle and interest

may

have been converted into shares of the preferred stock at a conversion price equal to

80%

of the price of the preferred shares sold in such financing, plus preferred stock warrant coverage equal to

with an exercise price equal to the purchase price of the preferred stock sold in such financing. If the notes were held to maturity, subject to BioCardia Lifesciences authorizing sufficient shares of a new class of preferred stock, or the Maturity Date Preferred Stock, the holder would have had the option to convert the outstanding principle and interest to this new class of Maturity Date Preferred Stock at an exercise price of

$0.07

per share, plus

warrant coverage.

August 2016,

the Company and the holders of the

2015

Notes amended the

2015

Notes, pursuant to which the outstanding principal amount and all accrued interest through

August 31, 2016

automatically converted into shares of BioCardia Lifesciences common stock at

80%

of the conversion price of the convertible notes issued in

October 2016.

In addition, the amendment eliminated the payment of interest for the period subsequent to

August 31, 2016,

and through the date of the closing of the Merger. Upon the completion of the Merger, the

2015

Notes and accrued interest converted into shares of BioCardia Lifesciences common stock, which were then exchanged at the Exchange Ratio into

67,443,988

shares of the Company’s common stock.

The

2015

Notes had redemption features that were determined to be a compound embedded derivative requiring bifurcation and separate accounting at estimated fair value. The changes in the estimated value are reflected in the change in fair value of convertible shareholder notes derivative liability in the consolidated statements of operations. We estimated the fair value of the compound embedded derivative utilizing a Monte Carlo simulation model. The inputs used to determine the estimated fair value of the compound embedded derivative instrument include the probability of an underlying event triggering the redemption event and its timing prior to the maturity date of the

2015

Notes. The fair value measurement is based upon significant inputs

not

observable in the market. These assumptions are inherently subjective and involve significant management judgment. Immediately prior to the closing of the Merger, the compound embedded derivative was remeasured based on the settlement value of the common stock exchanged for the notes, and we reclassified the balance of the convertible shareholder notes derivative liability to additional paid-in capital.

The Company recognized interest expense, including amortization of the debt discount of approximately

and

$557,000

for the

three

months ended

June 30, 2017

and

2016,

respectively, and approximately

and

$1.1

million for the

six

months ended

June 30, 2017

and

2016,

respectively.

XML 25 R14.htm IDEA: XBRL DOCUMENT

Note 9 - Share-based Compensation

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

(

)

Share-Based Compensation

BioCardia Lifesciences adopted, and the BioCardia Lifesciences shareholders approved, the

2002

Stock Plan in

2002,

or the

2002

Plan, and the Company assumed the

2002

Plan in the Merger. We will

not

grant any additional awards under the

2002

Plan following the Merger. In

2016,

BioCardia Lifesciences adopted, and the BioCardia Lifesciences shareholders approved, the

2016

Equity Incentive Plan, or the

2016

Plan, and the Company assumed the

2016

Plan in the Merger. We will grant awards, including incentive stock options and nonstatutory stock options, under the

2016

Plan following the Merger.

Stock compensation attributable to manufacturing operations was

not

significant and was expensed directly to cost of goods sold in the condensed consolidated statements of operations. Share-based compensation expense for the

three

and

six

months ended

June 30, 2017

and

2016

was recorded as follows (in thousands):

	Three Months ended June 30,				Six Months ended June 30,
	2017		2016		2017		2016
Cost of goods sold	$	33	$	—	$	74	$	1
Research and development		154		—		326		1
Selling, general and administrative		489		28		898		56
Share-based compensation expense	$	676	$	28	$	1,298	$	58

The following table summarizes the activity of stock options and related information:

	Options outstanding

				Weighted
				average
	Number of			exercise
	shares			price

Balance, December 31, 2016		41,903,728		$	0.15
Stock options granted		6,714,410			0.73
Stock options exercised		(107,153	)		0.20
Stock options cancelled		(407,382	)		0.04
Balance, June 30, 2017		48,103,603		$	0.23

The weighted average grant-date fair value of options granted during the

six

months ended

June 30, 2017

was

$0.57

per share.

Employee Share-Based Compensation (Stock Options)

During the

six

months ended

June 30, 2017,

the Company granted stock options to certain non-employee directors and employees to purchase

4,766,627

shares of common stock. The fair value of each option grant is estimated on the date of the grant using the BSM option pricing model with the weighted average assumptions in the table below.

Risk-free interest rate	1.88	–	2.12%
Volatility	85	–	89%
Dividend yield		None
Expected terms (in years)	5.50	–	6.25

Unrecognized share-based compensation for employee options granted through

June 30, 2017

is approximately

$4.4

million to be recognized over a remaining weighted average service period of

3.0

years.

Employee Share-Based Compensation (RSUs)

During the

six

months ended

June 30, 2017,

the Company granted to certain non-employee directors

1,176,000

restricted stock units, or RSUs. The fair value of each RSU is estimated on the closing market price on the grant date.

The following summarizes the activity of non-vested RSUs:

			Weighted
			average
			grant date
	Number of		fair value
	shares		per share
Balance, December 31, 2016		—
RSUs granted		1,176,000	$	0.73
RSUs vested		—
RSUs forfeited		—
Balance, June 30, 2017		1,176,000	$	0.73

Unrecognized share-based compensation for employee RSUs granted through

June 30, 2017

is approximately

$742,000

to be recognized over a remaining weighted average service period of

2.1

years.

Nonemployee Share-Based Compensation

During the

six

months ended

June 30, 2017,

the Company granted options to purchase

1,947,783

shares of common stock to consultants. These options were granted in exchange for consulting services to be rendered and vest over the term specified in the grant, which correlates to the period the services are rendered. The Company recorded approximately

$277,000

and

$1,000

for the

three

months ended

June 30, 2017

and

2016,

respectively, and approximately

$510,000

and

$2,000

for the

six

months ended

June 30, 2017

and

2016,

respectively, as nonemployee share-based compensation expense.

June 30, 2017:

Risk-free interest rate	2.25	–	2.28%
Volatility		87%
Dividend yield		None
Expected terms (in years)	9.1	–	9.5

XML 26 R15.htm IDEA: XBRL DOCUMENT

Note 10 - Net Loss Per Share

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

(

)

Net Loss per Share

The following outstanding common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:

	June 30,
	2017		2016
Stock options to purchase common stock		48,103,603		12,464,656
Restricted stock units		1,176,000		-
Total		49,279,603		12,464,656

XML 27 R16.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

(

)

Income Taxes

During the

six

months ended

June 30, 2017

and

2016,

there was

income tax expense or benefit for federal or state income taxes in the accompanying condensed consolidated statement of operations due to the Company’s net loss and a full valuation allowance on the resulting deferred tax assets.

As of

June 30, 2017,

the Company retains a full valuation allowance on its deferred tax assets in all jurisdictions. The realization of the Company’s deferred tax assets depends primarily on its ability to generate future taxable income which is uncertain. The Company does

not

believe that its deferred tax assets are realizable on a more-likely-than-

not

basis; therefore, the net deferred tax assets have been fully offset by a valuation allowance.

XML 28 R17.htm IDEA: XBRL DOCUMENT

Note 12 - Related Party Transactions

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

(

)

Related Party Transactions

August 2016,

the Company granted an option to purchase

5,027,726

shares of common stock, with

-year vesting period, to OPKO Health, Inc., or OPKO, as consideration for consulting services to be provided by OPKO in accordance with the consulting agreement entered into between the Company and OPKO. The unearned portion of the share-based compensation related to the OPKO option was revalued at

June 30, 2017,

and the Company recorded

$184,000

and

$306,000

as expense during the

three

and

six

months ended

June 30, 2017,

respectively. The term of the consulting agreement is

years and will be automatically renewed for successive

one

year periods. The chairman and chief executive officer of OPKO is a beneficial owner of more than

of the outstanding shares of the Company’s common stock and OPKO itself is also a beneficial owner of more than

of the outstanding shares of the Company’s common stock.

XML 29 R18.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2017

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

(a)

Basis of Preparation

The accompanying condensed consolidated balance sheets, statements of operations, comprehensive loss and cash flows as of

June 30, 2017

and for the

three

and

six

months ended

June 30, 2017

and

2016

June 30, 2017,

results of operations for the

three

and

six

months ended

June 30, 2017

and

2016,

and cash flows for the

six

months ended

June 30, 2017

and

2016.

The results for the

three

and

six

months ended

June 30, 2017

are

not

necessarily indicative of the results to be expected for the year ending

December 31, 2017

or for any other interim period or for any other future year.

These condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s Annual Report on Form

-K for the year ended

December 31, 2016,

filed with the SEC on

March 30, 2017.

Going Concern and Liquidity [Policy Text Block]

(b)

Liquidity

The Company has incurred net losses and negative cash flows from operations since its inception and had an accumulated deficit of

$66

million as of

June 30, 2017.

Management expects operating losses and negative cash flows to continue through at least the next several years.

Based on management’s current plans, management believes cash and cash equivalents of

$15.1

million and short-term investments of

$1.8

million as of

June 30, 2017

are sufficient to fund the Company into the

third

quarter of

2018.

In order to continue to further the development of the Company’s lead therapeutic candidate, the CardiAMP cell therapy system, and the Company’s

second

therapeutic candidate, the CardiALLO cell therapy system, through and beyond

2018,

not

available, the Company

may

be required to reduce operating expenses, delay or reduce the scope of its product development programs, obtain funds through arrangements with others that

may

assurances to that effect.

Use of Estimates, Policy [Policy Text Block]

(c)	Use of Estimates

Consolidation, Policy [Policy Text Block]

(d)

Principles of Consolidation

Investment, Policy [Policy Text Block]

(f )	Investments

Short-term investments consist of debt securities classified as available-for-sale and have maturities greater than

days, but less than

365

New Accounting Pronouncements, Policy [Policy Text Block]

)

Recently Adopted Accounting Pronouncement

March 2016,

the FASB issued ASU

2016

09,

Compensation - Stock Compensation (Topic

718

): Improvements to Employee Share-Based Payment Accounting (ASU

2016

effective

January 1, 2017.

The impact of adopting ASU

2016

resulted in the following:

●

material impact to our condensed consolidated financial statements due to a full valuation allowance recognized against our deferred tax assets.

●

We elected to recognize forfeitures as they occur. The cumulative effect adjustment as a result of the adoption of this guidance on a modified retrospective basis was insignificant.

●

not

result in changes in our condensed consolidated statements of cash flow.

There were

other material impacts to our condensed consolidated financial statements as a result of adopting this updated standard.

(g)

Recently Issued Accounting Pronouncements

May 2014,

the FASB issued ASU

No.

2014

09,

Revenue from Contracts with Customers (Topic

606

), which provides comprehensive guidance for revenue recognition. ASU

2014

August 2015,

the FASB issued ASU

2015

December 15, 2017

and earlier application is permitted only as of annual reporting periods beginning after

December 15, 2016,

including interim reporting periods within that reporting period. The Company has

not

elected early adoption. The Company has formed a task force that is in process of assessing the Company’s customer contracts and the potential impacts the standard

may

February 2016,

the FASB issued ASU

2016

Leases (Topic

842

), which supersedes existing guidance on accounting for leases in “Leases (Topic

840

)” and generally requires all leases to be recognized in the consolidated balance sheet. ASU

2016

is effective for annual and interim reporting periods beginning after

December 15, 2018;

early adoption is permitted. The Company does

not

plan to elect early adoption. The provisions of ASU

2016

are to be applied using a modified retrospective approach. The Company is currently assessing the future impact of this ASU on its consolidated financial statements.

May 2017,

the FASB issued ASU

2017

Compensation – Stock Compensation (Topic

718

) Scope of Modification Accounting. The amendments in ASU

2017

provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic

718.

The adoption of ASU

2017

09,

which will become effective for annual periods beginning after

December 15, 2017,

not

expected to have a material impact on the Company’s consolidated financial statements.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, and the American Institute of Certified Public Accountants did

not

or are

not

believed by management to have a material impact on the Company’s financial statement presentation or disclosures.

- Definition

Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.

+ References + Details

XML 30 R19.htm IDEA: XBRL DOCUMENT

Note 3 - Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash	$	3,901	$	—	$	—	$	3,901
Money market instruments		—		8,711		—		8,711
US government securities		—		649		—		649
US government agency securities		—		1,848		—		1,848
Total cash and cash equivalents	$	3,901	$	11,208	$	—	$	15,109

Marketable securities:
US government securities		—		1,796		—		1,796
Total marketable securities	$	—	$	1,796	$	—	$	1,796

	Level 1		Level 2		Level 3		Total
Assets:
Cash	$	21,352	$	—	$	—	$	21,352

XML 31 R20.htm IDEA: XBRL DOCUMENT

Note 4 - Investments (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Unrealized Gain (Loss) on Investments [Table Text Block]

	Amortized cost		Unrealized gain		Unrealized loss		Estimated Fair Value
US government securities	$	1,796	$	—	$	—	$	1,796
Total marketable securities	$	1,796	$	—	$	—	$	1,796

XML 32 R21.htm IDEA: XBRL DOCUMENT

Note 5 - Inventories (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	June 30, 2017		December 31, 2016
Raw materials	$	62		59
Work in process		16		—
Finished goods		115		76
Total	$	193		135

XML 33 R22.htm IDEA: XBRL DOCUMENT

Note 6 - Property and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Property, Plant and Equipment [Table Text Block]

	June 30, 2017			December 31, 2016
Computer equipment and software	$	183			143
Laboratory and manufacturing equipment		431			366
Furniture and fixtures		48			48
Leasehold improvements		325			325
Property and equipment, gross		987			882
Less accumulated depreciation		(807	)		(771	)
Property and equipment, net	$	180			111

XML 34 R23.htm IDEA: XBRL DOCUMENT

Note 7 - Accrued Expenses and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Schedule of Accrued Liabilities and Other Current Liabilities [Table Text Block]

	June 30, 2017		December 31, 2016
Accrued expenses	$	406		478
Accrued clinical trial costs		126		—
Grant liability		269		304
Customer deposits		63		66
Total	$	864		848

XML 35 R24.htm IDEA: XBRL DOCUMENT

Note 9 - Share-based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

			Weighted
			average
			grant date
	Number of		fair value
	shares		per share
Balance, December 31, 2016		—
RSUs granted		1,176,000	$	0.73
RSUs vested		—
RSUs forfeited		—
Balance, June 30, 2017		1,176,000	$	0.73

Schedule of Share-based Compensation, Expense [Table Text Block]

	Three Months ended June 30,				Six Months ended June 30,
	2017		2016		2017		2016
Cost of goods sold	$	33	$	—	$	74	$	1
Research and development		154		—		326		1
Selling, general and administrative		489		28		898		56
Share-based compensation expense	$	676	$	28	$	1,298	$	58

Share-based Compensation, Stock Options, Activity [Table Text Block]

	Options outstanding

				Weighted
				average
	Number of			exercise
	shares			price

Balance, December 31, 2016		41,903,728		$	0.15
Stock options granted		6,714,410			0.73
Stock options exercised		(107,153	)		0.20
Stock options cancelled		(407,382	)		0.04
Balance, June 30, 2017		48,103,603		$	0.23

Non-employee Stock Options [Member]

Notes Tables

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Risk-free interest rate	2.25	–	2.28%
Volatility		87%
Dividend yield		None
Expected terms (in years)	9.1	–	9.5

Employee Stock Option [Member]

Notes Tables

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Risk-free interest rate	1.88	–	2.12%
Volatility	85	–	89%
Dividend yield		None
Expected terms (in years)	5.50	–	6.25

XML 36 R25.htm IDEA: XBRL DOCUMENT

Note 10 - Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	June 30,
	2017		2016
Stock options to purchase common stock		48,103,603		12,464,656
Restricted stock units		1,176,000		-
Total		49,279,603		12,464,656

XML 37 R26.htm IDEA: XBRL DOCUMENT

Note 1 - Summary of Business and Basis of Presentation (Details Textual) - Merger [Member]	Oct. 24, 2016 shares
Business Combination, Percentage of Combined Company Owned By Acquirer Immediately After Merger	54.00%
Business Combination, Number of Shares of Post-merger Entity for Each Share of Pre-merger Entity	19.3678009

XML 38 R27.htm IDEA: XBRL DOCUMENT

Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Retained Earnings (Accumulated Deficit)	$ (65,963)	$ (60,142)
Cash and Cash Equivalents, at Carrying Value	15,109	21,352	$ 1,687	$ 3,557
Short-term Investments	$ 1,796

XML 39 R28.htm IDEA: XBRL DOCUMENT

Note 3 - Fair Value Measurement (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2017	May 31, 2015
Warrants and Rights Outstanding	$ 0
Notes Payable	$ 0
The 2015 Notes [Member]
Debt Instrument, Face Amount		$ 7,200

XML 40 R29.htm IDEA: XBRL DOCUMENT

Note 3 - Fair Value Measurement - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Marketable securities	$ 1,796
Fair Value, Measurements, Recurring [Member]
Cash and cash equivalents	15,109	$ 21,352
Marketable securities	1,796
Fair Value, Measurements, Recurring [Member] \| U.S. States and Political Subdivisions Debt Securities [Member]
Marketable securities	1,796
Fair Value, Measurements, Recurring [Member] \| Cash [Member]
Cash and cash equivalents	3,901
Fair Value, Measurements, Recurring [Member] \| Money Market Funds [Member]
Cash and cash equivalents	8,711
Fair Value, Measurements, Recurring [Member] \| US States and Political Subdivisions Debt Securities [Member]
Cash and cash equivalents	649
Fair Value, Measurements, Recurring [Member] \| US Government Corporations and Agencies Securities [Member]
Cash and cash equivalents	1,848
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Cash and cash equivalents	3,901	21,352
Marketable securities
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member] \| U.S. States and Political Subdivisions Debt Securities [Member]
Marketable securities
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member] \| Cash [Member]
Cash and cash equivalents	3,901
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member] \| Money Market Funds [Member]
Cash and cash equivalents
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member] \| US States and Political Subdivisions Debt Securities [Member]
Cash and cash equivalents
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member] \| US Government Corporations and Agencies Securities [Member]
Cash and cash equivalents
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Cash and cash equivalents	11,208
Marketable securities	1,796
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| U.S. States and Political Subdivisions Debt Securities [Member]
Marketable securities	1,796
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| Cash [Member]
Cash and cash equivalents
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| Money Market Funds [Member]
Cash and cash equivalents	8,711
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| US States and Political Subdivisions Debt Securities [Member]
Cash and cash equivalents	649
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| US Government Corporations and Agencies Securities [Member]
Cash and cash equivalents	1,848
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Cash and cash equivalents
Marketable securities
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member] \| U.S. States and Political Subdivisions Debt Securities [Member]
Marketable securities
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member] \| Cash [Member]
Cash and cash equivalents
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member] \| Money Market Funds [Member]
Cash and cash equivalents
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member] \| US States and Political Subdivisions Debt Securities [Member]
Cash and cash equivalents
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member] \| US Government Corporations and Agencies Securities [Member]
Cash and cash equivalents

XML 41 R30.htm IDEA: XBRL DOCUMENT

Note 4 - Investments (Details Textual) $ in Thousands	6 Months Ended
Note 4 - Investments (Details Textual) $ in Thousands	Jun. 30, 2017 USD ($)
Other than Temporary Impairment Losses, Investments	$ 0

XML 42 R31.htm IDEA: XBRL DOCUMENT

Note 4 - Investments - Summary of Cash Equivalents and Marketable Securities (Details) $ in Thousands	Jun. 30, 2017 USD ($)
Marketable securities, amortized cost	$ 1,796
Marketable securities, unrealized gain
Marketable securities, unrealized loss
Marketable securities	1,796
US States and Political Subdivisions Debt Securities [Member]
Marketable securities, amortized cost	1,796
Marketable securities, unrealized gain
Marketable securities, unrealized loss
Marketable securities	$ 1,796

XML 43 R32.htm IDEA: XBRL DOCUMENT

Note 5 - Inventories (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
Note 5 - Inventories (Details Textual) - USD ($)	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Inventory Write-down	$ 1,000	$ 19,000	$ 10,000	$ 37,000

XML 44 R33.htm IDEA: XBRL DOCUMENT

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Raw materials	$ 62	$ 59
Work in process	16
Finished goods	115	76
Total	$ 193	$ 135

XML 45 R34.htm IDEA: XBRL DOCUMENT

Note 6 - Property and Equipment, Net (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Depreciation	$ 23,000	$ 11,000	$ 36,000	$ 21,000

XML 46 R35.htm IDEA: XBRL DOCUMENT

Note 6 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property and equipment, gross	$ 987	$ 882
Less accumulated depreciation	(807)	(771)
Property and equipment, net	180	111
Computer Equipment and Software [Member]
Property and equipment, gross	183	143
Laboratory and Manufacturing Equipment [Member]
Property and equipment, gross	431	366
Furniture and Fixtures [Member]
Property and equipment, gross	48	48
Leasehold Improvements [Member]
Property and equipment, gross	$ 325	$ 325

XML 47 R36.htm IDEA: XBRL DOCUMENT

Note 7 - Accrued Expenses and Other Current Liabilities - Accrued Liabilities and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accrued expenses	$ 406	$ 478
Accrued clinical trial costs	126
Grant liability	269	304
Customer deposits	63	66
Total	$ 864	$ 848

XML 48 R37.htm IDEA: XBRL DOCUMENT

Note 8 - Convertible Notes (Details Textual) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
Note 8 - Convertible Notes (Details Textual) - USD ($)	Oct. 24, 2016	May 31, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Aug. 31, 2016
Interest Expense			$ 0	$ 557,000	$ 0	$ 1,107,000
The 2015 Notes [Member]
Debt Instrument, Face Amount		$ 7,200,000
The 2015 Notes [Member] \| Convertible Debt [Member]
Debt Instrument, Face Amount		$ 7,200,000
Debt Instrument, Interest Rate, Stated Percentage		8.00%
Debt Instrument, Term		1 year 180 days
Debt Instrument, Convertible, Automatic Conversion of Principle and Accrued Interest into Shares of Common Stock, Percentage of Price of Shares Purchased in IPO		80.00%
Debt Instrument, Convertible, Optional Conversion Right, Trigger, Private Placement of Preferred Stock, Aggregate Sales Proceeds		$ 5,000,000
Debt Instrument, Convertible, Optional Conversion Right, Conversion Price, Percentage of the Price of the Preferred Shares		80.00%
Debt Instrument, Convertible, Optional Conversion Right, Warrant Coverage, Percent		8.00%
Debt Instrument, Convertible, Conversion Price		$ 0.07
Debt Instrument, Convertible, Optional Conversion Right at Maturity, Warrant Coverage, Percent		8.00%
Debt Instrument, Convertible, Conversion to Common Stock, Conversion Price, Percentage of the Price of the Convertible Notes to Be Issued							80.00%
The 2015 Notes [Member] \| Convertible Debt [Member] \| Merger [Member]
Debt Conversion, Converted Instrument, Shares Issued	67,443,988

XML 49 R38.htm IDEA: XBRL DOCUMENT

Note 9 - Share-based Compensation (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 4,400,000		$ 4,400,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 0.57
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			6,714,410
Share-based Compensation			$ 1,298,000	$ 58,000
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			3 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			1,176,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	742,000		$ 742,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 36 days
Non-employee Directors and Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			4,766,627
Non-employee Directors and Employees [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			1,176,000
Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			1,947,783
Non-employees [Member]
Share-based Compensation	$ 277,000	$ 1,000	$ 510,000	$ 2,000

XML 50 R39.htm IDEA: XBRL DOCUMENT

Note 9 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Employee share-based compensation expense	$ 676	$ 28	$ 1,298	$ 58
Cost of Goods Sold [Member]
Employee share-based compensation expense	33		74	1
Research and Development Expense [Member]
Employee share-based compensation expense	154		326	1
Selling, General and Administrative Expenses [Member]
Employee share-based compensation expense	$ 489	$ 28	$ 898	$ 56

XML 51 R40.htm IDEA: XBRL DOCUMENT

Note 9 - Share-based Compensation - Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2017 $ / shares shares
Stock options outstanding, beginning of period (in shares) \| shares	41,903,728
Balance, weighted average exercise price, beginning of period (in dollars per share) \| $ / shares	$ 0.15
Stock options granted (in shares) \| shares	6,714,410
Stock options granted (in dollars per share) \| $ / shares	$ 0.73
Stock options exercised (in shares) \| shares	(107,153)
Stock options exercised, weighted average exercise price (in dollars per share) \| $ / shares	$ 0.20
Stock options cancelled (in shares) \| shares	(407,382)
Stock options cancelled, weighted average exercise price (in dollars per share) \| $ / shares	$ 0.04
Stock options outstanding, end of period (in shares) \| shares	48,103,603
Balance, weighted average exercise price, end of period (in dollars per share) \| $ / shares	$ 0.23

XML 52 R41.htm IDEA: XBRL DOCUMENT

Note 9 - Share-based Compensation - Valuation Assumptions for Employee Stock Options (Details) - Employee Stock Option [Member]	6 Months Ended
	Jun. 30, 2017
Risk-free interest rate, minimum	1.88%
Risk-free interest rate, maximum	2.12%
Volatility, minimum	85.00%
Volatility, maximum	89.00%
Dividend yield	0.00%
Minimum [Member]
Expected terms (Year)	5 years 182 days
Maximum [Member]
Expected terms (Year)	6 years 91 days

XML 53 R42.htm IDEA: XBRL DOCUMENT

Note 9 - Share-based Compensation - Summary of Non-vested RSUs (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2017 $ / shares shares
Balance (in shares) \| shares
Balance (in dollars per share) \| $ / shares
RSUs granted (in shares) \| shares	1,176,000
RSUs granted (in dollars per share) \| $ / shares	$ 0.73
RSUs vested (in shares) \| shares
RSUs vested (in dollars per share) \| $ / shares
Balance (in dollars per share) \| $ / shares	$ 0.73
RSUs forfeited (in shares) \| shares
RSUs forfeited (in dollars per share) \| $ / shares
Balance (in shares) \| shares	1,176,000

XML 54 R43.htm IDEA: XBRL DOCUMENT

Note 9 - Share-based Compensation - Nonemployee Stock Option Valuation Assumptions (Details) - Non-employee Stock Options [Member]	6 Months Ended
	Jun. 30, 2017
Risk-free interest rate, minimum	2.25%
Risk-free interest rate, maximum	2.28%
Volatility	87.00%
Dividend yield	0.00%
Minimum [Member]
Expected terms (Year)	9 years 36 days
Maximum [Member]
Expected terms (Year)	9 years 182 days

XML 55 R44.htm IDEA: XBRL DOCUMENT

Note 10 - Net Loss Per Share - Antidilutive Securities (Details) - shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Antidilutive securities (in shares)	49,279,603	12,464,656
Employee Stock Option [Member]
Antidilutive securities (in shares)	48,103,603	12,464,656
Restricted Stock Units (RSUs) [Member]
Antidilutive securities (in shares)	1,176,000

XML 56 R45.htm IDEA: XBRL DOCUMENT

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Tax Expense (Benefit)	$ 0	$ 0
Deferred Tax Liabilities, Net	$ 0

XML 57 R46.htm IDEA: XBRL DOCUMENT

Note 12 - Related Party Transactions (Details Textual) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2016	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			6,714,410
Share-based Compensation			$ 1,298,000	$ 58,000
OPKO [Member]
Related Party, Ownership Percentage	5.00%
OPKO [Member] \| Consulting Services [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	5,027,726
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation		$ 184,000	$ 306,000
Consulting Agreement, Term	4 years
Consulting Agreement, Term, Length of Automatic Renewal Periods	1 year
Chairman and Chief Executive Officer of OPKO [Member]
Related Party, Ownership Percentage	5.00%

EXCEL 58 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 59 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 60 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 62 FilingSummary.xml IDEA: XBRL DOCUMENT 3.7.0.1 html 89 175 1 false 33 0 false 4 false false R1.htm 000 - Document - Document And Entity Information Sheet http://www.biocardia.com/20170630/role/statement-document-and-entity-information Document And Entity Information Cover 1 false false R2.htm 001 - Statement - Condensed Consolidated Balance Sheets (Current Period Unaudited) Sheet http://www.biocardia.com/20170630/role/statement-condensed-consolidated-balance-sheets-current-period-unaudited Condensed Consolidated Balance Sheets (Current Period Unaudited) Statements 2 false false R3.htm 002 - Statement - Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) Sheet http://www.biocardia.com/20170630/role/statement-condensed-consolidated-balance-sheets-current-period-unaudited-parentheticals Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) Statements 3 false false R4.htm 003 - Statement - Condensed Consolidated Statements of Operations (Unaudited) Sheet http://www.biocardia.com/20170630/role/statement-condensed-consolidated-statements-of-operations-unaudited Condensed Consolidated Statements of Operations (Unaudited) Statements 4 false false R5.htm 004 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://www.biocardia.com/20170630/role/statement-condensed-consolidated-statements-of-cash-flows-unaudited Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 5 false false R6.htm 005 - Disclosure - Note 1 - Summary of Business and Basis of Presentation Sheet http://www.biocardia.com/20170630/role/statement-note-1-summary-of-business-and-basis-of-presentation Note 1 - Summary of Business and Basis of Presentation Notes 6 false false R7.htm 006 - Disclosure - Note 2 - Significant Accounting Policies Sheet http://www.biocardia.com/20170630/role/statement-note-2-significant-accounting-policies Note 2 - Significant Accounting Policies Notes 7 false false R8.htm 007 - Disclosure - Note 3 - Fair Value Measurement Sheet http://www.biocardia.com/20170630/role/statement-note-3-fair-value-measurement Note 3 - Fair Value Measurement Notes 8 false false R9.htm 008 - Disclosure - Note 4 - Investments Sheet http://www.biocardia.com/20170630/role/statement-note-4-investments Note 4 - Investments Notes 9 false false R10.htm 009 - Disclosure - Note 5 - Inventories Sheet http://www.biocardia.com/20170630/role/statement-note-5-inventories Note 5 - Inventories Notes 10 false false R11.htm 010 - Disclosure - Note 6 - Property and Equipment, Net Sheet http://www.biocardia.com/20170630/role/statement-note-6-property-and-equipment-net Note 6 - Property and Equipment, Net Notes 11 false false R12.htm 011 - Disclosure - Note 7 - Accrued Expenses and Other Current Liabilities Sheet http://www.biocardia.com/20170630/role/statement-note-7-accrued-expenses-and-other-current-liabilities Note 7 - Accrued Expenses and Other Current Liabilities Notes 12 false false R13.htm 012 - Disclosure - Note 8 - Convertible Notes Notes http://www.biocardia.com/20170630/role/statement-note-8-convertible-notes Note 8 - Convertible Notes Notes 13 false false R14.htm 013 - Disclosure - Note 9 - Share-based Compensation Sheet http://www.biocardia.com/20170630/role/statement-note-9-sharebased-compensation Note 9 - Share-based Compensation Notes 14 false false R15.htm 014 - Document - Note 10 - Net Loss Per Share Sheet http://www.biocardia.com/20170630/role/statement-note-10-net-loss-per-share Note 10 - Net Loss Per Share Uncategorized 15 false false R16.htm 015 - Disclosure - Note 11 - Income Taxes Sheet http://www.biocardia.com/20170630/role/statement-note-11-income-taxes- Note 11 - Income Taxes Uncategorized 16 false false R17.htm 016 - Disclosure - Note 12 - Related Party Transactions Sheet http://www.biocardia.com/20170630/role/statement-note-12-related-party-transactions Note 12 - Related Party Transactions Uncategorized 17 false false R18.htm 017 - Disclosure - Significant Accounting Policies (Policies) Sheet http://www.biocardia.com/20170630/role/statement-significant-accounting-policies-policies Significant Accounting Policies (Policies) Uncategorized 18 false false R19.htm 018 - Disclosure - Note 3 - Fair Value Measurement (Tables) Sheet http://www.biocardia.com/20170630/role/statement-note-3-fair-value-measurement-tables Note 3 - Fair Value Measurement (Tables) Uncategorized 19 false false R20.htm 019 - Disclosure - Note 4 - Investments (Tables) Sheet http://www.biocardia.com/20170630/role/statement-note-4-investments-tables Note 4 - Investments (Tables) Uncategorized 20 false false R21.htm 020 - Disclosure - Note 5 - Inventories (Tables) Sheet http://www.biocardia.com/20170630/role/statement-note-5-inventories-tables Note 5 - Inventories (Tables) Uncategorized 21 false false R22.htm 021 - Disclosure - Note 6 - Property and Equipment, Net (Tables) Sheet http://www.biocardia.com/20170630/role/statement-note-6-property-and-equipment-net-tables Note 6 - Property and Equipment, Net (Tables) Uncategorized 22 false false R23.htm 022 - Disclosure - Note 7 - Accrued Expenses and Other Current Liabilities (Tables) Sheet http://www.biocardia.com/20170630/role/statement-note-7-accrued-expenses-and-other-current-liabilities-tables Note 7 - Accrued Expenses and Other Current Liabilities (Tables) Uncategorized 23 false false R24.htm 023 - Disclosure - Note 9 - Share-based Compensation (Tables) Sheet http://www.biocardia.com/20170630/role/statement-note-9-sharebased-compensation-tables Note 9 - Share-based Compensation (Tables) Uncategorized 24 false false R25.htm 024 - Disclosure - Note 10 - Net Loss Per Share (Tables) Sheet http://www.biocardia.com/20170630/role/statement-note-10-net-loss-per-share-tables Note 10 - Net Loss Per Share (Tables) Uncategorized 25 false false R26.htm 025 - Disclosure - Note 1 - Summary of Business and Basis of Presentation (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-1-summary-of-business-and-basis-of-presentation-details-textual Note 1 - Summary of Business and Basis of Presentation (Details Textual) Uncategorized 26 false false R27.htm 026 - Disclosure - Note 2 - Significant Accounting Policies (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-2-significant-accounting-policies-details-textual Note 2 - Significant Accounting Policies (Details Textual) Uncategorized 27 false false R28.htm 027 - Disclosure - Note 3 - Fair Value Measurement (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-3-fair-value-measurement-details-textual Note 3 - Fair Value Measurement (Details Textual) Uncategorized 28 false false R29.htm 028 - Disclosure - Note 3 - Fair Value Measurement - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-3-fair-value-measurement-fair-value-of-assets-and-liabilities-measured-on-a-recurring-basis-details Note 3 - Fair Value Measurement - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) Uncategorized 29 false false R30.htm 029 - Disclosure - Note 4 - Investments (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-4-investments-details-textual Note 4 - Investments (Details Textual) Uncategorized 30 false false R31.htm 030 - Disclosure - Note 4 - Investments - Summary of Cash Equivalents and Marketable Securities (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-4-investments-summary-of-cash-equivalents-and-marketable-securities-details Note 4 - Investments - Summary of Cash Equivalents and Marketable Securities (Details) Uncategorized 31 false false R32.htm 031 - Disclosure - Note 5 - Inventories (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-5-inventories-details-textual Note 5 - Inventories (Details Textual) Uncategorized 32 false false R33.htm 032 - Disclosure - Note 5 - Inventories - Inventories (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-5-inventories-inventories-details Note 5 - Inventories - Inventories (Details) Uncategorized 33 false false R34.htm 033 - Disclosure - Note 6 - Property and Equipment, Net (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-6-property-and-equipment-net-details-textual Note 6 - Property and Equipment, Net (Details Textual) Uncategorized 34 false false R35.htm 034 - Disclosure - Note 6 - Property and Equipment, Net - Property and Equipment, Net (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-6-property-and-equipment-net-property-and-equipment-net-details Note 6 - Property and Equipment, Net - Property and Equipment, Net (Details) Uncategorized 35 false false R36.htm 035 - Disclosure - Note 7 - Accrued Expenses and Other Current Liabilities - Accrued Liabilities and Other Current Liabilities (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-7-accrued-expenses-and-other-current-liabilities-accrued-liabilities-and-other-current-liabilities-details Note 7 - Accrued Expenses and Other Current Liabilities - Accrued Liabilities and Other Current Liabilities (Details) Uncategorized 36 false false R37.htm 036 - Disclosure - Note 8 - Convertible Notes (Details Textual) Notes http://www.biocardia.com/20170630/role/statement-note-8-convertible-notes-details-textual Note 8 - Convertible Notes (Details Textual) Uncategorized 37 false false R38.htm 037 - Disclosure - Note 9 - Share-based Compensation (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-9-sharebased-compensation-details-textual Note 9 - Share-based Compensation (Details Textual) Uncategorized 38 false false R39.htm 038 - Disclosure - Note 9 - Share-based Compensation - Share-based Compensation Expense (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-9-sharebased-compensation-sharebased-compensation-expense-details Note 9 - Share-based Compensation - Share-based Compensation Expense (Details) Uncategorized 39 false false R40.htm 039 - Disclosure - Note 9 - Share-based Compensation - Stock Option Activity (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-9-sharebased-compensation-stock-option-activity-details Note 9 - Share-based Compensation - Stock Option Activity (Details) Uncategorized 40 false false R41.htm 040 - Disclosure - Note 9 - Share-based Compensation - Valuation Assumptions for Employee Stock Options (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-9-sharebased-compensation-valuation-assumptions-for-employee-stock-options-details Note 9 - Share-based Compensation - Valuation Assumptions for Employee Stock Options (Details) Uncategorized 41 false false R42.htm 041 - Disclosure - Note 9 - Share-based Compensation - Summary of Non-vested RSUs (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-9-sharebased-compensation-summary-of-nonvested-rsus-details Note 9 - Share-based Compensation - Summary of Non-vested RSUs (Details) Uncategorized 42 false false R43.htm 042 - Disclosure - Note 9 - Share-based Compensation - Nonemployee Stock Option Valuation Assumptions (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-9-sharebased-compensation-nonemployee-stock-option-valuation-assumptions-details Note 9 - Share-based Compensation - Nonemployee Stock Option Valuation Assumptions (Details) Uncategorized 43 false false R44.htm 043 - Disclosure - Note 10 - Net Loss Per Share - Antidilutive Securities (Details) Sheet http://www.biocardia.com/20170630/role/statement-note-10-net-loss-per-share-antidilutive-securities-details Note 10 - Net Loss Per Share - Antidilutive Securities (Details) Uncategorized 44 false false R45.htm 044 - Disclosure - Note 11 - Income Taxes (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-11-income-taxes-details-textual Note 11 - Income Taxes (Details Textual) Uncategorized 45 false false R46.htm 045 - Disclosure - Note 12 - Related Party Transactions (Details Textual) Sheet http://www.biocardia.com/20170630/role/statement-note-12-related-party-transactions-details-textual Note 12 - Related Party Transactions (Details Textual) Uncategorized 46 false false All Reports Book All Reports bcda-20170630.xml bcda-20170630.xsd bcda-20170630_cal.xml bcda-20170630_def.xml bcda-20170630_lab.xml bcda-20170630_pre.xml true true ZIP 64 0001437749-17-014692-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001437749-17-014692-xbrl.zip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�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�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end

Note 9 - Share-based Compensation - Summary of Non-vested RSUs (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2017 $ / shares shares
Balance (in shares) \| shares
Balance (in dollars per share) \| $ / shares
RSUs granted (in shares) \| shares	1,176,000
RSUs granted (in dollars per share) \| $ / shares	$ 0.73
RSUs vested (in shares) \| shares
RSUs vested (in dollars per share) \| $ / shares
Balance (in dollars per share) \| $ / shares	$ 0.73
RSUs forfeited (in shares) \| shares
RSUs forfeited (in dollars per share) \| $ / shares
Balance (in shares) \| shares	1,176,000