Annual report pursuant to Section 13 and 15(d)

NEW ACCOUNTING STANDARDS IMPLMEMENTED (Details 1)

v3.19.1
NEW ACCOUNTING STANDARDS IMPLMEMENTED (Details 1) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues                      
Revenues                 $ 2,998,000 $ 837,000 $ 889,000
Expenses                      
Loss from operations $ (18,010,000) [1] $ (16,916,000) [1] $ (12,557,000) [1] $ (10,683,000) [1] $ (8,750,000) $ (5,362,000) $ (8,440,000) $ (5,284,000) (58,166,000) (27,836,000) (23,881,000)
Net loss $ (17,479,000) [1] $ (16,419,000) [1] $ (12,243,000) [1] $ (10,530,000) [1] $ (8,450,000) $ (5,343,000) $ (8,279,000) $ (5,247,000) $ (56,671,000) $ (27,319,000) $ (21,873,000)
Basic and diluted loss per common share $ (0.36) $ (0.34) $ (0.26) $ (0.22) $ (0.19) $ (0.13) $ (0.21) $ (0.13) $ (1.19) $ (0.66) $ (0.64)
As Reported Under ASC 605                      
Revenues                      
Revenues                 $ 804,000    
Expenses                      
Loss from operations                 (60,360,000)    
Net loss                 $ (58,865,000)    
Basic and diluted loss per common share                 $ (1.24)    
Adjustments Due to ASC 606                      
Revenues                      
Revenues                 $ 2,194,000    
Expenses                      
Loss from operations                 2,194,000    
Net loss                 $ 2,194,000    
Basic and diluted loss per common share                 $ 0.05    
License [Member]                      
Revenues                      
Revenues $ 0 [2] $ 0 [2] $ 0 [2] $ 0 [2] $ 150,000 [2] $ 151,000 [2] $ 150,000 [2] $ 151,000 [2] $ 0 $ 602,000 $ 602,000
License [Member] | As Reported Under ASC 605                      
Revenues                      
Revenues                 602,000    
License [Member] | Adjustments Due to ASC 606                      
Revenues                      
Revenues                 (602,000)    
Foundation [Member]                      
Revenues                      
Revenues                 2,796,000    
Foundation [Member] | As Reported Under ASC 605                      
Revenues                      
Revenues                 0    
Foundation [Member] | Adjustments Due to ASC 606                      
Revenues                      
Revenues                 $ 2,796,000    
[1] We have adjusted the amounts originally reported for the quarters ended March 31, 2018 and June 30, 2018 to correct for an error in the determination of the cumulative effect related to the adoption of ASC 606 as of January 1, 2018. The adjusted amounts for March 31, 2018 reflect a $2,067,000 reduction in foundation revenues and corresponding increases in the loss from operations and net loss of  $2,067,000 and an increase in the diluted loss per share of  $0.04, as compared to the originally reported amounts. The adjusted amounts for June 30, 2018 reflect a $543,000 reduction in foundation revenues and corresponding increases in the loss from operations and net loss of  $543,000 and an increase in the diluted loss per share of  $0.01, as compared to the originally reported amounts.
[2] Effective January 1, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers, as amended (ASC 606)), using the modified retrospective transition method. The ASC 606 revenue recognition standard replaced the prior revenue recognition standard ASC 605, Revenue Recognition. The statement of operations for each of the quarterly periods in 2018 are presented under ASC 606, while the statement of operations for each of the quarterly periods of 2017 are presented under ASC 605.