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Note 5 - Senior Credit Facility
 6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Debt Disclosure [Text Block]
Note
5
— Senior Credit Facility
 
On
September 23, 2016,
the Company closed a
$23,000
Senior Credit Facility with an affiliate of MidCap Financial Services, LLC, as administrative agent (the “Senior Credit Facility”). The 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 Senior Credit Facility includes an interest-only payment period through fiscal
2017
and scheduled monthly principal and interest payments for the subsequent
40
months. The Company has the option to repay the Senior Credit Facility at any time prior to the scheduled principal repayment date subject to prepayment fees. Final payment of the Senior Credit Facility is subject to a final payment fee equal to
5%
of the principal funded under the Senior Credit Facility.
 
As of
June 30, 2018,
the Company had borrowings of
$19,550
under the Senior Credit Facility bearing an interest rate of
10.0%.
The carrying amount of the debt approximates its fair value based on prevailing interest rates as of the balance sheet date. The remaining scheduled principal repayments of the Senior Credit Facility are as follows:
 
Principal Payments    
2018   $
3,450
  
2019    
6,900
  
2020    
6,900
  
2021    
2,300
  
         
Total   $
19,550
  
 
The debt agreement contains
two
provisions that if deemed probable would create the recognition of an embedded feature; however, we do
not
believe either provision is probable. In
July 2018,
the Company amended and restated the Senior Credit Facility. See Note
7
– Subsequent Events.