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Note 7 - Subsequent Event | 6 Months Ended
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Jun. 30, 2018
Notes to Financial Statements |
Subsequent Events [Text Block] | Note 7 — Subsequent Events On July 10, 2018, the Company terminated its Agreement and Plan of Merger dated as of January 21, 2018 ( the “Merger Agreement”) with Idera Pharmaceuticals, Inc. (“Idera”). The merger Agreement was terminated following the July 10, 2018 special meeting of the stockholders of the Company at which time the proposal to adopt the Merger Agreement was not approved by the holders of a majority of the Company’s issued and outstanding shares of common stock. Pursuant to the terms of the Merger Agreement, the Company paid a $6,000 expense reimbursement amount to Idera in July 2018. On July 20, 2018, the Company, together with its consolidated subsidiary, MDCP, LLC (collectively, the “Borrowers”), entered into a $30,000 secured loan facility with MidCap Financial, a Delaware statutory trust, as administrative agent and lender (“MidCap”), pursuant to the terms and conditions of that certain Amended and Restated Credit and Security Agreement, dated as of July 20, 2018 ( the “Amended and Restated Senior Credit Facility”), among the Borrowers, MidCap, and the lenders party thereto from time to time. The Amended and Restated Senior Credit Facility refinances and replaces the Senior Credit Facility dated as of September 23, 2016. The Amended and Restated Senior Credit Facility was fully funded at closing and bears a variable interest rate of LIBOR (which shall not be less than 0.5% ) plus 8%. The Amended and Restated Senior Credit Facility includes an interest-only payment period through July 2019 and scheduled monthly principal and interest payments for the subsequent 30 months. The Company used a portion of the proceeds of the Amended and Restated Senior Credit Facility to pay off outstanding amounts under the Senior Credit Facility and the remainder will be used for general corporate purposes. On August 6, 2018, the Company completed an underwritten public offering of 10,454,546 shares of its common stock, offered at a price to the public of $5.50 per share, including shares issued pursuant to the underwriters’ 30 -day option to purchase additional shares, which was exercised in full. The net proceeds from this offering to the Company were approximately $53,400 after deducting underwriting discounts and commissions and estimated offering expenses.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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