Document and Entity Information - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Mar. 13, 2018 |
Jun. 30, 2017 |
|
| Document And Entity Information | |||
| Entity Registrant Name | BIOTIME INC | ||
| Entity Central Index Key | 0000876343 | ||
| Document Type | 10-K | ||
| Document Period End Date | Dec. 31, 2017 | ||
| Amendment Flag | false | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Filer Category | Accelerated Filer | ||
| Entity Public Float | $ 223,153,000 | ||
| Entity Common Stock, Shares Outstanding | 126,869,152 | ||
| Trading Symbol | BTX | ||
| Document Fiscal Period Focus | FY | ||
| Document Fiscal Year Focus | 2017 |
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- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition Indicate "Yes" or "No" whether registrants (1) have 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 registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition Trading symbol of an instrument as listed on an exchange. No definition available.
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- Definition The aggregate carrying amount, as of the balance sheet date, of noncurrent liabilities related to a lease agreement. No definition available.
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- Definition Aggregated carrying amounts of obligations as of the balance sheet date Liability classified warrants and other long-term liabilities. No definition available.
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- Definition Amount of tenant allowance due from lessor to lessee per the lease agreement to cover building improvements and or construction costs. No definition available.
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- Definition Amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business within one year or the normal operating cycle, if longer, net of allowance for doubtful accounts, and the amounts due under the terms of governmental, corporate, or foundation grants. No definition available.
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- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of capital lease obligation due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Convertible Notes Payable, excluding current portion. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying value as of the balance sheet date of the portion of long-term debt due within one year or the operating cycle if longer identified as Convertible Notes Payable. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition For a classified balance sheet, the cumulative difference between the rental income or payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, more than one year after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue or other forms of income in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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- Definition Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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Consolidated Balance Sheets (Parenthetical) - $ / shares |
Dec. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Preferred stock no par value | ||
| Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
| Preferred stock, shares issued | ||
| Preferred stock, shares outstanding | ||
| Common stock, no par value | ||
| Common stock, shares authorized | 150,000,000 | 150,000,000 |
| Common stock, shares issued | 126,866,000 | 103,396,000 |
| Common stock, shares outstanding | 126,866,000 | 102,776,000 |
| Treasury stock, shares | 620,000 |
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- Definition Face amount per share of no-par value common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Face amount per share of no-par value preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Operations - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| REVENUES: | |||
| Grant revenue | $ 1,666,000 | $ 3,671,000 | $ 4,502,000 |
| Royalties from product sales and license fees | 389,000 | 544,000 | 719,000 |
| Subscription and advertisement revenues | 1,395,000 | 972,000 | 1,357,000 |
| Sale of research products and services | 8,000 | 736,000 | 458,000 |
| Total revenues | 3,458,000 | 5,923,000 | 7,036,000 |
| Cost of sales | (168,000) | (358,000) | (1,107,000) |
| Gross profit | 3,290,000 | 5,565,000 | 5,929,000 |
| OPERATING EXPENSES: | |||
| Research and development | (24,024,000) | (36,106,000) | (42,604,000) |
| General and administrative | (19,922,000) | (28,426,000) | (29,134,000) |
| Total operating expenses | (43,946,000) | (64,532,000) | (71,738,000) |
| Gain on sale of assets | 1,754,000 | ||
| Loss from operations | (38,902,000) | (58,967,000) | (65,809,000) |
| OTHER INCOME/(EXPENSES): | |||
| Interest expense, net | (692,000) | (747,000) | (340,000) |
| BioTime’s share of losses and impairment in equity method investment in Ascendance | (4,671,000) | (35,000) | |
| Loss on extinguishment of related party convertible debt | (2,799,000) | ||
| Gain on investment | 3,694,000 | ||
| Other income/(expense), net | 1,449,000 | (403,000) | (160,000) |
| Total other income, net | 15,613,000 | 77,588,000 | 3,159,000 |
| INCOME (LOSS) BEFORE INCOME TAX BENEFIT | (23,289,000) | 18,621,000 | (62,650,000) |
| Deferred income tax benefit | 4,516,000 | ||
| NET INCOME (LOSS) | (23,289,000) | 18,621,000 | (58,134,000) |
| Net loss attributable to noncontrolling interest | 3,313,000 | 14,951,000 | 11,143,000 |
| NET INCOME (LOSS) ATTRIBUTABLE TO BIOTIME, INC. | (19,976,000) | 33,572,000 | (46,991,000) |
| Dividends on preferred shares | (415,000) | ||
| NET INCOME (LOSS) ATTRIBUTABLE TO BIOTIME, INC. COMMON SHAREHOLDERS | $ (19,976,000) | $ 33,572,000 | $ (47,406,000) |
| NET INCOME (LOSS) PER COMMON SHARE: | |||
| BASIC | $ (0.17) | $ 0.35 | $ (0.59) |
| DILUTED | $ (0.17) | $ 0.34 | $ (0.59) |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: | |||
| BASIC | 114,476,000 | 97,316,000 | 79,711,000 |
| DILUTED | 114,476,000 | 99,553,000 | 79,711,000 |
| OncoCyte Corporation [Member] | |||
| OTHER INCOME/(EXPENSES): | |||
| Gain on deconsolidation | $ 71,697,000 | ||
| Gain (loss) on equity method investment at fair value | (2,935,000) | ||
| Asterias Biotherapeutics [Member] | |||
| OTHER INCOME/(EXPENSES): | |||
| Gain on deconsolidation | 49,048,000 | ||
| Gain (loss) on equity method investment at fair value | $ (51,107,000) | $ 34,361,000 | |
| X | ||||||||||
- Definition Refers to equity method investment gain (loss) fair value disclosure. No definition available.
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| X | ||||||||||
- Definition Revenue from the sale of subscriptions of advertising time (such as television and radio) or space (newspaper or magazine pages). May also include advertising, marketing and promotional services rendered during the reporting period. No definition available.
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- Definition In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of the gain (loss) recognized by the parent and included in its attributable portion of net income for the period due to deconsolidation of a subsidiary or derecognition of a group of assets. The gain (loss) recognized and included in the net income attributable to the parent for the period is generally computed as the difference between: (a) the aggregate of: (1) the fair value of any consideration received; (2) the fair value of any retained noncontrolling investment in the former subsidiary at the date the subsidiary was deconsolidated; and (3) the carrying amount of any noncontrolling interest in the former subsidiary (including any accumulated other comprehensive income attributable to the noncontrolling interest) at the date the subsidiary was deconsolidated and (b) the carrying amount of the former subsidiary's assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets utilized in financial service operations. No definition available.
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The net amount of nonoperating interest income (expense). No definition available.
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Revenue earned during the period from non-repayable sum of money awarded to an entity to carry out a specific purpose as provided in grant agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Income Statement [Abstract] | |||
| NET INCOME (LOSS) | $ (23,289) | $ 18,621 | $ (58,134) |
| Other comprehensive income/(loss), net of tax: | |||
| Foreign currency translation adjustment, net of tax | 668 | (106) | (424) |
| Available-for-sale investments: | |||
| Unrealized gain/(loss) on available-for-sale securities, net of taxes | 521 | (395) | 1 |
| COMPREHENSIVE INCOME (LOSS) | (22,100) | 18,120 | (58,557) |
| Less: comprehensive loss attributable to noncontrolling interest | 3,313 | 14,951 | 11,143 |
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO BIOTIME, INC. COMMON SHAREHOLDERS BEFORE PREFERRED STOCK DIVIDEND | (18,787) | 33,071 | (47,414) |
| Preferred stock dividend | (415) | ||
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO BIOTIME, INC. COMMON SHAREHOLDERS | $ (18,787) | $ 33,071 | $ (47,829) |
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of tax expense (benefit) allocated to other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Consolidated Statements of Changes in Shareholders’ Equity - USD ($) |
Preferred Stock [Member] |
Common Stock [Member] |
Common Shares [Member]
Asterias Biotherapeutics [Member]
|
Common Shares [Member]
OncoCyte [Member]
|
Common Shares [Member]
AgeX [Member]
|
Treasury Shares [Member]
OncoCyte [Member]
|
Treasury Shares [Member] |
Contributed Capital [Member] |
Accumulated Deficit [Member] |
Noncontrolling Interest [Member]
Asterias Biotherapeutics [Member]
|
Noncontrolling Interest [Member]
AgeX [Member]
|
Noncontrolling Interest [Member]
OncoCyte Corporation [Member]
|
Noncontrolling Interest [Member] |
Accumulated Other Comprehensive Income/(Loss) [Member] |
Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at Dec. 31, 2014 | $ 3,500,000 | $ 234,843,000 | $ (19,890,000) | $ 7,000 | $ (182,190,000) | $ 26,267,000 | $ 186,000 | $ 62,723,000 | |||||||
| Balance, shares at Dec. 31, 2014 | 70,000 | 83,122,000 | (4,894,000) | ||||||||||||
| Sale of common shares, net of fees paid and amortized | $ 33,897,000 | 33,897,000 | |||||||||||||
| Sale of common shares, net of fees paid and amortized, shares | 10,738,000 | ||||||||||||||
| Exercise of options | $ 621,000 | 621,000 | |||||||||||||
| Exercise of options, shares | 155,000 | ||||||||||||||
| Warrants exercised | $ 19,000 | 19,000 | |||||||||||||
| Warrants exercised, shares | 4,000 | ||||||||||||||
| Stock options granted for compensation | $ 2,003,000 | 2,003,000 | |||||||||||||
| Stock options granted for compensation in subsidiaries | 8,223,000 | 8,223,000 | |||||||||||||
| Restricted stock granted for compensation | 822,000 | 822,000 | |||||||||||||
| Dividend in kind | (712,000) | 712,000 | |||||||||||||
| Subsidiary shares retired to pay for employee's taxes | (98,000) | (98,000) | |||||||||||||
| Subsidiary warrants exercised | 11,700,000 | 11,700,000 | |||||||||||||
| Contingently issuable subsidiary warrants | 65,000 | 65,000 | |||||||||||||
| Sale of treasury stock | $ (496,000) | $ 1,857,000 | 1,361,000 | ||||||||||||
| Sale of treasury stock, shares | 421,000 | ||||||||||||||
| Conversion of preferred stock to common stock | $ (3,500,000) | $ 3,500,000 | |||||||||||||
| Conversion of preferred stock to common stock, shares | (70,000) | 875,000 | |||||||||||||
| Dividends on preferred stock | $ (408,000) | (7,000) | (415,000) | ||||||||||||
| Exercise of subsidiary options | 33,000 | 33,000 | |||||||||||||
| Subsidiary shares issued in lieu of cash for services received | 486,000 | 486,000 | |||||||||||||
| Outside investment in subsidiary with cash | 3,918,000 | 3,918,000 | |||||||||||||
| Sale of subsidiary shares at- the- market, net of fees paid and amortized | 9,646,000 | 9,646,000 | |||||||||||||
| Foreign currency translation adjustment | (424,000) | (424,000) | |||||||||||||
| Unrealized loss on available-for-sale securities | 1,000 | 1,000 | |||||||||||||
| Common shares issued to purchase Cell Cure ordinary shares and Cell Cure Notes from noncontrolling interests in Cell Cure | |||||||||||||||
| NET INCOME (LOSS) | (46,991,000) | (11,143,000) | (58,134,000) | ||||||||||||
| Balance at Dec. 31, 2015 | $ 273,979,000 | $ (18,033,000) | (229,893,000) | 50,631,000 | (237,000) | 76,447,000 | |||||||||
| Balance, shares at Dec. 31, 2015 | 94,894,000 | (4,473,000) | |||||||||||||
| Sale of common shares, net of fees paid and amortized | $ 18,606,000 | 18,606,000 | |||||||||||||
| Sale of common shares, net of fees paid and amortized, shares | 8,420,000 | ||||||||||||||
| Stock options granted for compensation | $ 2,731,000 | 2,731,000 | |||||||||||||
| Stock options granted for compensation in subsidiaries | 5,220,000 | 5,220,000 | |||||||||||||
| Dividends on preferred stock | |||||||||||||||
| Exercise of subsidiary options | 2,151,000 | 2,151,000 | |||||||||||||
| Foreign currency translation adjustment | (106,000) | (106,000) | |||||||||||||
| Unrealized loss on available-for-sale securities | (395,000) | (395,000) | |||||||||||||
| Common shares issued for executive bonus in lieu of cash | $ 200,000 | 200,000 | |||||||||||||
| Common shares issued for executive bonus in lieu of cash, shares | 68,000 | ||||||||||||||
| Common shares issued for consulting services in lieu of cash | $ 40,000 | 40,000 | |||||||||||||
| Common shares issued for consulting services in lieu of cash, shares | 14,000 | ||||||||||||||
| Deconsolidation | $ 15,142,000 | (21,752,000) | (6,610,000) | ||||||||||||
| Deconsolidation, shares | 3,853,000 | ||||||||||||||
| Subsidiary financing transactions with noncontrolling interests | 18,310,000 | 4,012,000 | (18,310,000) | (4,012,000) | |||||||||||
| Distribution of Asterias warrants to its shareholders other than BioTime | 3,125,000 | 3,125,000 | |||||||||||||
| Sale of common shares and warrants by OncoCyte, net of financing fees | 9,777,000 | 9,777,000 | |||||||||||||
| Beneficial conversion feature on convertible debt issued to Cell Cure's noncontrolling interests | 701,000 | 701,000 | |||||||||||||
| Common shares issued to purchase Cell Cure ordinary shares and Cell Cure Notes from noncontrolling interests in Cell Cure | |||||||||||||||
| NET INCOME (LOSS) | 33,572,000 | (14,951,000) | 18,621,000 | ||||||||||||
| Balance at Dec. 31, 2016 | $ 317,878,000 | $ (2,891,000) | (196,321,000) | 12,580,000 | (738,000) | 130,508,000 | |||||||||
| Balance, shares at Dec. 31, 2016 | 103,396,000 | (620,000) | |||||||||||||
| Sale of common shares, net of fees paid and amortized | $ 45,068,000 | 45,068,000 | |||||||||||||
| Sale of common shares, net of fees paid and amortized, shares | 18,511,000 | ||||||||||||||
| Exercise of options | $ 25,000 | 25,000 | |||||||||||||
| Exercise of options, shares | 9,000 | ||||||||||||||
| Stock options granted for compensation | $ 3,019,000 | 3,019,000 | |||||||||||||
| Stock options granted for compensation in subsidiaries | 913,000 | 913,000 | |||||||||||||
| Dividends on preferred stock | |||||||||||||||
| Exercise of subsidiary options | 4,000 | 4,000 | |||||||||||||
| Foreign currency translation adjustment | 668,000 | 668,000 | |||||||||||||
| Unrealized loss on available-for-sale securities | 521,000 | 521,000 | |||||||||||||
| Common shares issued for consulting services in lieu of cash | $ 3,000 | 3,000 | |||||||||||||
| Common shares issued for consulting services in lieu of cash, shares | 1,000 | ||||||||||||||
| Deconsolidation | (3,253,000) | $ 2,891,000 | $ (8,512,000) | (8,874,000) | |||||||||||
| Deconsolidation, shares | 620,000 | ||||||||||||||
| Subsidiary financing transactions with noncontrolling interests | $ 8,207,000 | $ (8,207,000) | |||||||||||||
| Beneficial conversion feature on convertible debt issued to Cell Cure's noncontrolling interests | 304,000 | 304,000 | |||||||||||||
| Sale of common shares at the market, net of fees | $ 835,000 | 835,000 | |||||||||||||
| Sale of common shares at the market, net of fees, shares | 300,000 | ||||||||||||||
| Purchase of shares from a related party and retired | $ (843,000) | (843,000) | |||||||||||||
| Purchase of shares from a related party and retired, shares | (300,000) | ||||||||||||||
| Shares issued upon vesting of restricted stock units, net of shares retired to pay employee's taxes | $ (46,000) | (46,000) | |||||||||||||
| Shares issued upon vesting of restricted stock units, net of shares retired to pay employee's taxes, shares | 24,000 | ||||||||||||||
| Sale of subsidiary shares in AgeX | $ 100,000 | $ 9,868,000 | 9,968,000 | ||||||||||||
| Subsidiary financing and other transactions with noncontrolling interests -LifeMap Sciences, LifeMap Solutions, OrthoCyte, and ReCyte, net | $ 5,495,000 | (5,495,000) | |||||||||||||
| Common shares issued to purchase Cell Cure ordinary shares and Cell Cure Notes from noncontrolling interests in Cell Cure | $ 15,217,000 | 15,217,000 | |||||||||||||
| Common shares issued to purchase Cell Cure ordinary shares and Cell Cure Notes from noncontrolling interests in Cell Cure, shares | 4,925,000 | ||||||||||||||
| Purchase of noncontrolling interests in Cell Cure | $ (10,117,000) | 3,480,000 | (6,637,000) | ||||||||||||
| Purchase of beneficial conversion option at intrinsic value in Cell Cure Notes | (3,101,000) | (3,101,000) | |||||||||||||
| NET INCOME (LOSS) | (19,976,000) | (3,313,000) | (23,289,000) | ||||||||||||
| Balance at Dec. 31, 2017 | $ 378,487,000 | $ (216,297,000) | $ 1,622,000 | $ 451,000 | $ 164,263,000 | ||||||||||
| Balance, shares at Dec. 31, 2017 | 126,866,000 |
| X | ||||||||||
- Definition Number of shares (units) pertaining to adjustment of sales of treasury stock during the period. No definition available.
|
| X | ||||||||||
- Definition Amount pertaining to adjustment of sales of treasury stock during the period. No definition available.
|
| X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation paid to a subsidiary related to stock options during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). No definition available.
|
| X | ||||||||||
- Definition Common shares issued to purchase ordinary shares from noncontrolling interests. No definition available.
|
| X | ||||||||||
- Definition Common shares issued to purchase ordinary shares from noncontrolling interests, shares. No definition available.
|
| X | ||||||||||
- Definition Equity impact of the value of subsidiary stock that has been repurchased and retired during the period and paid for employee's taxes. No definition available.
|
| X | ||||||||||
- Definition Value of contingently warrants issued to subsidiaries during the period. No definition available.
|
| X | ||||||||||
- Definition Refers to the deconsolidation of a subsidiary or the sale of investment in consolidated subsidiaries. No definition available.
|
| X | ||||||||||
- Definition Number of shares associated with the deconsolidation of a subsidiary or the sale of investment in consolidated subsidiaries. No definition available.
|
| X | ||||||||||
- Definition Refers to distribution of warrants to shareholders other than parent company. No definition available.
|
| X | ||||||||||
- Definition Increase in noncontrolling interest balance because of a business combination that occurred in cash during the period. No definition available.
|
| X | ||||||||||
- Definition Purchase of beneficial conversion option at intrinsic value. No definition available.
|
| X | ||||||||||
- Definition Purchase of noncontrolling interests. No definition available.
|
| X | ||||||||||
- Definition Purchase of shares from a related party and retired. No definition available.
|
| X | ||||||||||
- Definition Purchase of shares from a related party and retired, shares. No definition available.
|
| X | ||||||||||
- Definition Sale of common shares at the market, net of fees. No definition available.
|
| X | ||||||||||
- Definition Sale of common shares at the market, net of fees, shares. No definition available.
|
| X | ||||||||||
- Definition Sale of subsidiary shares. No definition available.
|
| X | ||||||||||
- Definition Representing the sale of subsidiary shares at- the- market, net of fees paid and amortized. No definition available.
|
| X | ||||||||||
- Definition Number of warrants exercised during the current period. No definition available.
|
| X | ||||||||||
- Definition Shares issued upon vesting of restricted stock units, net of shares retired to pay employee's taxes. No definition available.
|
| X | ||||||||||
- Definition Shares issued upon vesting of restricted stock units, net of shares retired to pay employee's taxes, shares. No definition available.
|
| X | ||||||||||
- Definition Value of common stock and warrants issued, net of financing fee. No definition available.
|
| X | ||||||||||
- Definition Represents the stock issued during the period shares subsidiary stock options exercised. No definition available.
|
| X | ||||||||||
- Definition Value stock issued during the period as a result of the exercise of warrants. No definition available.
|
| X | ||||||||||
- Definition Value subsidiary stock issued during the period as a result of the exercise of warrants. No definition available.
|
| X | ||||||||||
- Definition Subsidiary financing and other transactions with noncontrolling interests. No definition available.
|
| X | ||||||||||
- Definition Refers to the subsidiary financing transactions with non-controlling interests. No definition available.
|
| X | ||||||||||
- Definition Refers to subsidiary shares issued in lieu of cash for services received during the reporting period. No definition available.
|
| X | ||||||||||
- Definition Amount of increase to additional paid-in capital (APIC) resulting from recognition of equity-based compensation for restricted stock units. No definition available.
|
| X | ||||||||||
- Definition Amount of increase to additional paid-in capital (APIC) from recognition of equity-based compensation for stock options. No definition available.
|
| X | ||||||||||
- Definition Amount of unrealized gain (loss) on investments in debt and equity securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of paid and unpaid common stock dividends declared with the form of settlement in payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of shares issued which are neither cancelled nor held in the treasury. No definition available.
|
| X | ||||||||||
- Definition Number of shares issued during the period as a result of the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of shares issued during the period as a result of an employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of shares issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders. No definition available.
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The gross value of stock issued during the period upon the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate change in value for stock issued during the period as a result of employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Value of stock issued in lieu of cash for services contributed to the entity. Value of the stock issued includes, but is not limited to, services contributed by vendors and founders. No definition available.
|
| X | ||||||||||
- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Consolidated Statements of Cash Flows - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) attributable to BioTime, Inc. | $ (19,976,000) | $ 33,572,000 | $ (46,991,000) |
| Net loss allocable to non-controlling interest | (3,313,000) | (14,951,000) | (11,143,000) |
| Adjustments to reconcile net income (loss) attributable to BioTime, Inc. to net cash used in operating activities: | |||
| BioTime’s share of losses and impairment of Ascendance | 4,671,000 | 35,000 | |
| Gain on sale of assets | (1,754,000) | ||
| Depreciation expense, including amortization of leasehold improvements | 947,000 | 1,180,000 | 1,078,000 |
| Amortization of intangible assets | 2,349,000 | 3,577,000 | 5,256,000 |
| Stock-based compensation | 3,932,000 | 7,951,000 | 11,050,000 |
| Liability classified warrants | 797,000 | ||
| Subsidiary shareholder expense for subsidiary warrants | 3,125,000 | ||
| Subsidiary common stock issued in lieu of cash for services | 486,000 | ||
| Amortization of discount on related party convertible debt | 640,000 | 448,000 | 245,000 |
| Deferred income tax benefit | (4,516,000) | ||
| Foreign currency remeasurement and other (gain) loss | (1,761,000) | 2,251,000 | 345,000 |
| Loss on extinguishment of related party debt | 2,799,000 | ||
| Changes in operating assets and liabilities: | |||
| Accounts and grants receivable, net | (172,000) | 187,000 | (80,000) |
| Due from affiliates | 1,157,000 | ||
| Prepaid expenses and other current assets | 145,000 | (1,115,000) | (1,533,000) |
| Other long-term assets and liabilities | (22,000) | (56,000) | (120,000) |
| Accounts payable and accrued liabilities | 1,299,000 | 12,000 | 1,673,000 |
| Accrued interest on related party convertible debt | 19,000 | ||
| Deferred revenues and grant income | 243,000 | 132,000 | 3,285,000 |
| Deferred grant expense | (227,000) | ||
| Deferred rent liabilities | 55,000 | 99,000 | 61,000 |
| Net cash used in operating activities | (30,517,000) | (42,326,000) | (44,544,000) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (1,326,000) | (2,248,000) | (1,241,000) |
| Payments on construction in progress | (278,000) | (4,093,000) | |
| Purchase of foreign available-for-sale securities | (189,000) | (748,000) | |
| Proceeds from sale of assets | 200,000 | ||
| Payment for Ascendance equity method investment | (500,000) | ||
| Security deposit paid and other | (12,000) | 13,000 | (859,000) |
| Net cash used in investing activities | (10,225,000) | (10,889,000) | (7,441,000) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from issuance of common shares | 48,875,000 | 20,125,000 | 35,470,000 |
| Fees paid on sale of common shares | (3,798,000) | (1,515,000) | |
| Proceeds from sale of subsidiary common shares and warrants | 9,968,000 | 10,721,000 | 13,639,000 |
| Fees paid on sale of subsidiary common shares and warrants | (879,000) | (693,000) | |
| Proceeds from sale of common shares at-the-market, net of fees | 835,000 | ||
| Purchase and retirement of common shares from a related party | (843,000) | ||
| Proceeds from issuance of related party convertible debt | 425,000 | 1,757,000 | 255,000 |
| Reimbursement from landlord on construction in progress | 198,000 | 567,000 | 3,789,000 |
| Proceeds from exercise of subsidiary stock options | 4,000 | 2,151,000 | 33,000 |
| Proceeds from exercise of stock options | 25,000 | 621,000 | |
| Proceeds from exercise of warrants | 20,000 | ||
| Common shares received and retired for employee taxes paid | (45,000) | ||
| Repayment of lease liability and capital lease obligation | (204,000) | (145,000) | (59,000) |
| Repayment of promissory notes | (49,000) | ||
| Proceeds from exercise of subsidiary warrants | 11,700,000 | ||
| Net cash provided by financing activities | 55,391,000 | 32,782,000 | 64,775,000 |
| Effect of exchange rate changes on cash and cash equivalents | 101,000 | 292,000 | (48,000) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 14,750,000 | (20,141,000) | 12,742,000 |
| CASH AND CASH EQUIVALENTS: | |||
| At beginning of year | 22,088,000 | 42,229,000 | 29,487,000 |
| At end of year | 36,838,000 | 22,088,000 | 42,229,000 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Cash paid during year for interest | 156,000 | 94,000 | 119,000 |
| SUPPLEMENTAL SCHEDULE OF NONCASH FINANCING AND INVESTING ACTIVITIES: | |||
| BioTime common stock issued to purchase Cell Cure ordinary shares and Convertible Notes from noncontrolling interests in Cell Cure | 15,217,000 | ||
| Extinguishment of related party convertible debt, including accrued interest, with BioTime common stock | 2,680,000 | ||
| Capital expenditure funded by capital lease liability | 151,000 | 626,000 | 34,000 |
| Construction in progress in accounts payable and accrued expenses | 524,000 | ||
| Landlord receivable | 567,000 | ||
| Lease liability | 1,385,000 | 4,400,000 | |
| Conversion of preferred stock to common stock | 3,500,000 | ||
| Promissory notes in exchange of preferred share dividends | 363,000 | ||
| Common stock issued in lieu of cash for bonus and services | 240,000 | ||
| Equity method investment in Ascendance in exchange for assets | 4,706,000 | ||
| Asterias Biotherapeutics [Member] | |||
| Adjustments to reconcile net income (loss) attributable to BioTime, Inc. to net cash used in operating activities: | |||
| Gain on deconsolidation | (49,048,000) | ||
| Unrealized (gain) loss on equity method investment in at fair value | 51,107,000 | (34,361,000) | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Deconsolidation of cash and cash equivalents | (8,376,000) | ||
| OncoCyte Corporation [Member] | |||
| Adjustments to reconcile net income (loss) attributable to BioTime, Inc. to net cash used in operating activities: | |||
| Gain on deconsolidation | (71,697,000) | ||
| Unrealized (gain) loss on equity method investment in at fair value | 2,935,000 | ||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Deconsolidation of cash and cash equivalents | $ (8,898,000) | ||
| X | ||||||||||
- Definition Refers to accrued amount unpaid interest on the convertible debt instrument for the period. No definition available.
|
| X | ||||||||||
- Definition Common shares issued to purchase ordinary shares from noncontrolling interests. No definition available.
|
| X | ||||||||||
- Definition Common shares received and retired for employee taxes paid. No definition available.
|
| X | ||||||||||
- Definition Represents issuance of common stock in lieu of cash for bonus and services as part of noncash financing and investing activities. No definition available.
|
| X | ||||||||||
- Definition Amount of contingently issuable subsidiary warrants in lieu of investor relations expenses. No definition available.
|
| X | ||||||||||
- Definition Represents conversion of preferred stock to common stock as part of noncash financing and investing activities. No definition available.
|
| X | ||||||||||
- Definition Refers to equity method investment gain (loss) fair value disclosure. No definition available.
|
| X | ||||||||||
- Definition This item represents the equity method investment in Ascendance in exchange for assets. No definition available.
|
| X | ||||||||||
- Definition Extinguishment of related party convertible debt, including accrued interest, common stock. No definition available.
|
| X | ||||||||||
- Definition The cash outflow associated with fee paid on sale of common shares during the period. No definition available.
|
| X | ||||||||||
- Definition The cash outflow associated with fee paid on sale of common shares and warrants of subsidiary during the period. No definition available.
|
| X | ||||||||||
- Definition Amount of foreign currency remeasurement realized & unrealized gain (loss) recognized and other in the income statement. No definition available.
|
| X | ||||||||||
- Definition Increase (decrease) during the reporting period deferred revenues and grant income. No definition available.
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount due that is the result of the cumulative difference between actual rent due and rental income recognized on a straight-line basis. No definition available.
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in Landlord noncurrent operating liabilities disclosed in the statement of cash flows. No definition available.
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period for the amount of tenant allowance due from lessor to lessee per the lease agreement to cover building improvements and or construction costs as disclosed in the statement of cash flows. No definition available.
|
| X | ||||||||||
- Definition Liability classified warrants. No definition available.
|
| X | ||||||||||
- Definition Refers to proceeds from landlord on construction in progress. No definition available.
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| X | ||||||||||
- Definition The cash inflow from the issuance of common stock and warrants of an equity stock. No definition available.
|
| X | ||||||||||
- Definition Proceeds from sale of common shares at-the-market, net of fees. No definition available.
|
| X | ||||||||||
- Definition The cash inflow associated with the amount received from holders of subsidiary exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. No definition available.
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| X | ||||||||||
- Definition The cash inflow associated with the amount received from holders of subsidiary exercising their warrants. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. No definition available.
|
| X | ||||||||||
- Definition Represents issuance of promissory notes in exchange of preferred share dividends as part of noncash financing and investing transactions. No definition available.
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| X | ||||||||||
- Definition Purchase and retirement of common shares from a related party. No definition available.
|
| X | ||||||||||
- Definition The net cash inflow/(outflow) associated with security deposit received during the period. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase during the period in capital lease obligations due to entering into new capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Reduction in cash due to no longer including the former subsidiary's cash in the consolidated entity's cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Future cash outflow to pay for construction in progress expenditures that have occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of the gain (loss) recognized by the parent and included in its attributable portion of net income for the period due to deconsolidation of a subsidiary or derecognition of a group of assets. The gain (loss) recognized and included in the net income attributable to the parent for the period is generally computed as the difference between: (a) the aggregate of: (1) the fair value of any consideration received; (2) the fair value of any retained noncontrolling investment in the former subsidiary at the date the subsidiary was deconsolidated; and (3) the carrying amount of any noncontrolling interest in the former subsidiary (including any accumulated other comprehensive income attributable to the noncontrolling interest) at the date the subsidiary was deconsolidated and (b) the carrying amount of the former subsidiary's assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets utilized in financial service operations. No definition available.
|
| X | ||||||||||
- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in receivables to be collected from an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Change during the period in carrying value for all deferred liabilities due within one year or operating cycle. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period of all assets and liabilities used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of increase (decrease) in prepaid expenses, and assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of cash paid, after deduction of cash paid for capitalized interest, for interest. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased) or for use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash inflow from exercise of stock options granted under share-based compensation arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash inflow associated with the amount received from holders exercising their stock warrants. No definition available.
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| X | ||||||||||
- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
|
| X | ||||||||||
- Definition The cash outflow for the obligation for a lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
Organization, Basis of Presentation and Liquidity |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Organization, Basis of Presentation and Liquidity |
1. Organization, Basis of Presentation and Liquidity
General – BioTime, Inc. (“BioTime” or the “Company”) is a clinical-stage biotechnology company targeting degenerative diseases. BioTime’s programs are based on two proprietary core technology platforms: cell replacement and cell/drug delivery. With the cell replacement platform, BioTime is creating new cells and tissues with its pluripotent and progenitor cell technologies. These cells and tissues are developed to replace those that are either rendered dysfunctional or lost due to degenerative diseases. BioTime’s cell/drug delivery programs are based upon its proprietary HyStem® cell and drug delivery matrix technology. HyStem® was designed to provide for the transfer, retention, engraftment and metabolic support of cellular replacement therapy.
BioTime’s lead cell replacement clinical product is OpRegen®, a retinal pigmented epithelium (RPE) cell replacement therapy, which is in a Phase I/IIa multicenter trial for the treatment of late-stage, dry age-related macular degeneration (dry-AMD). There are currently no FDA-approved therapies for dry-AMD, which accounts for approximately 90% of all age-related macular degeneration cases, and is the leading cause of blindness in people over the age of 60.
BioTime’s lead cell delivery clinical product is Renevia®, a potential treatment for facial lipoatrophy. “Lipoatrophy” means the loss of fat tissue which can be caused by several factors, including trauma, aging or drug side effects such as those that cause HIV-associated lipoatrophy. BioTime is also developing HyStem® for the delivery of therapeutic drugs and cells to localized areas of the body, including for sustained drug release in the targeted area.
In 2017, BioTime formed AgeX Therapeutics, Inc. (“AgeX”) to continue development of early-stage programs focusing on the development of technology relating to cell immortality and regenerative biology, to aging and age-related diseases. AgeX will focus on the development of regenerative medicine technologies targeting the diseases of aging and metabolic disorders. AgeX’s initial programs focus on utilizing brown adipose tissue (“brown fat”) in targeting diabetes, obesity, and heart disease; and induced tissue regeneration (“iTR”) in utilizing the human body’s own abilities to scarlessly regenerate tissues damaged from age or trauma. AgeX may also pursue other early-stage programs.
On August 17, 2017, AgeX completed an asset acquisition and stock sale pursuant to which it received certain assets from BioTime for use in its research and development programs and raised $10.0 million in cash from investors to finance its operations. This capitalization of AgeX has allowed BioTime to focus its resources on its clinical programs in its core therapeutic sectors. As of December 31, 2017, BioTime owned approximately 85% of the issued and outstanding shares of AgeX common stock (see Notes 2 and 10).
BioTime is also enabling early-stage programs in other new technologies through its own research programs as well as through other subsidiaries or affiliates.
BioTime also has significant equity holdings in two publicly traded companies, Asterias Biotherapeutics, Inc. (“Asterias”) and OncoCyte Corporation (“OncoCyte”), which BioTime founded and, until recently, were majority-owned and consolidated subsidiaries. Asterias (NYSE American: AST) is presently focused on advancing three clinical-stage programs that have the potential to address areas of high, unmet medical need in the fields of neurology (spinal cord injury) and oncology (acute myeloid leukemia and lung cancer). OncoCyte (NYSE American: OCX) is developing confirmatory diagnostic tests for lung cancer, breast cancer, and bladder cancer utilizing novel liquid biopsy technology.
On February 17, 2017, BioTime’s ownership of OncoCyte declined below 50% after certain OncoCyte investors acquired OncoCyte common stock by exercising OncoCyte stock purchase warrants, and BioTime deconsolidated the financial statements of OncoCyte from its consolidated financial statements (the “OncoCyte Deconsolidation”) (see Note 3). Since February 17, 2017, BioTime has accounted for OncoCyte using the equity method of accounting at fair value (see Note 4).
On May 13, 2016, BioTime BioTime’s percentage ownership in Asterias declined below 50% as a result of Asterias’ public offering of its common stock to raise capital for its operations and BioTime deconsolidated the financial statements of Asterias from its consolidated financial statements (the “Asterias Deconsolidation”) (see Note 3). Since May 13, 2016, BioTime has accounted for the Asterias common stock it holds using the equity method of accounting at fair value (see Note 5).
Use of estimates - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period with consideration given to materiality. Significant estimates and assumptions which are subject to significant judgment include those related to going concern assessment of consolidated financial statements, useful lives associated with long-lived assets, including evaluation of asset impairment, allowances for uncollectible accounts receivables, loss contingencies, deferred income taxes and tax reserves, including valuation allowances related to deferred income taxes, and assumptions used to value stock-based awards, debt or other equity instruments. Actual results could differ materially from those estimates.
Principles of consolidation – BioTime’s consolidated financial statements include the accounts of its subsidiaries. The following table reflects BioTime’s ownership, directly or through one or more subsidiaries, of the outstanding shares of its operating subsidiaries as of December 31, 2017.
All material intercompany accounts and transactions have been eliminated in consolidation. As of December 31, 2017, BioTime consolidated its direct and indirect wholly-owned or majority-owned subsidiaries because BioTime has the ability to control their operating and financial decisions and policies through its ownership, and the noncontrolling interest is reflected as a separate element of shareholders’ equity on BioTime’s consolidated balance sheets.
Liquidity – Since inception, BioTime has incurred significant operating losses and has funded its operations primarily through the issuance of equity securities, payments from research grants, royalties from product sales and sales of research products and services. At December 31, 2017, BioTime had an accumulated deficit of approximately $216.3 million, working capital of $35.7 million and shareholders’ equity of $164.3 million. BioTime has evaluated its projected cash flows and believes that its cash, cash equivalents and available-for-sale securities of $38.2 million as of December 31, 2017, provide sufficient cash, cash equivalents, and liquidity to carry out BioTime’s current operations through at least twelve months from the issuance date of the consolidated financial statements included herein. BioTime also holds shares of Asterias and OncoCyte common stock with a combined value of $117.2 million at December 31, 2017. Although BioTime has no present plans to liquidate its holdings of Asterias or OncoCyte shares, if BioTime needs near term working capital or liquidity to supplement its cash and cash equivalents for its operations, BioTime may sell some, or all, of its Asterias or OncoCyte shares, as necessary.
BioTime’s projected cash flows are subject to various risks and uncertainties, and the unavailability or inadequacy of financing to meet future capital needs could force it to modify, curtail, delay, or suspend some or all aspects of its planned operations. BioTime’s determination as to when it will seek new financing and the amount of financing that it will need will be based on its evaluation of the progress it makes in its research and development programs, any changes to the scope and focus of those programs, and projection of future costs, revenues, and rates of expenditure. For example, clinical trials being conducted for its OpRegen® program will be funded in part with funds from grants and not from cash on hand. If BioTime were to lose grant funding or is unable to continue to provide working capital to the OpRegen® program, it may be required to delay, postpone, or cancel the clinical trials or limit the number of clinical trial sites, unless BioTime is able to obtain adequate financing from another source that could be used for the clinical trials. BioTime cannot assure that adequate financing will be available on favorable terms, if at all. Sales of additional equity securities by BioTime or its subsidiaries could result in the dilution of the interests of present shareholders.
As further discussed in Note 10, on August 17, 2017, AgeX completed an asset acquisition and stock sale pursuant to which it received certain assets from BioTime for use in its research and development programs and raised $10.0 million in cash from investors to finance its operations. However, BioTime cannot assure that adequate financing will be available to AgeX in the future to fund the AgeX programs. |
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Significant Accounting Policies |
2. Summary of Significant Accounting Policies
Going concern assessment – BioTime assesses going concern uncertainty for its consolidated financial statements to determine if BioTime has sufficient cash and cash equivalents on hand and working capital to operate for a period of at least one year from the date the consolidated financial statements are issued or are available to be issued, which is referred to as the “look-forward period” as defined by FASB’s ASU No. 2014-15. As part of this assessment, based on conditions that are known and reasonably knowable to BioTime, BioTime will consider various scenarios, forecasts, projections, and estimates, and BioTime will make certain key assumptions, including the timing and nature of projected cash expenditures or programs, and its ability to delay or curtail those expenditures or programs, if necessary, among other factors. Based on this assessment, as necessary or applicable, BioTime makes certain assumptions concerning its ability to curtail or delay research and development programs and expenditures within the look-forward period in accordance with ASU No. 2014-15.
Revenue recognition – BioTime complies with Accounting Standards Codification, ASC 605-10 and recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. BioTime accounts for grants received to perform research and development services in accordance with ASC 730-20, Research and Development Arrangements, which requires an assessment at the inception of the grant whether the grant is a liability or a contract to perform research and development services for others. If the company receiving the grant is obligated to repay the grant funds to the grantor regardless of the outcome of the research and development activities, then the company is required to estimate and recognize that liability. Alternatively, if the company receiving the grant is not required to repay, or if it is required to repay the grant funds only if the research and development activities are successful, then the grant agreement is accounted for as a contract to perform research and development services for others. In this case, grant income is recognized when the related research and development expenses are incurred. Revenues from the sale of research products and services are primarily derived from the sale of hydrogels and stem cell products and are recognized when earned. Royalty revenues consist of product royalty payments. Royalties earned on product sales are recognized as revenue in the quarter in which the royalty reports are received rather than the quarter in which the sales took place. License fee revenues consist of fees under license agreements and are recognized when earned and reasonably estimable and, also include subscription and advertising revenue from LifeMap Sciences’ online databases based upon applicable subscription or advertising periods. When BioTime or a subsidiary is entitled to receive up-front nonrefundable licensing or similar fees pursuant to agreements under which BioTime or its subsidiary has no continuing performance obligations, the fees are recognized as revenues when collection is reasonably assured. When BioTime or a subsidiary receives up-front nonrefundable licensing or similar fees pursuant to agreements under which BioTime or its subsidiary does have continuing performance obligations, the fees are deferred and amortized ratably over the performance period. If the performance period cannot be reasonably estimated, BioTime amortizes nonrefundable fees over the life of the contract until such time that the performance period can be more reasonably estimated. Milestone payments, if any, related to scientific or technical achievements, subject to substantial uncertainty, are recognized in income when the milestone is accomplished if (a) substantive effort was required to achieve the milestone, (b) the amount of the milestone payment appears reasonably commensurate with the effort expended, and (c) collection of the payment is reasonably assured.
Cost of sales – BioTime accounts for the cost of research products acquired for sale and any royalties paid as a result of any revenues in accordance with the terms of the applicable licensing agreements as cost of sales on the consolidated statements of operations.
Cash and cash equivalents – BioTime considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2017 and 2016, BioTime had $32.1 million and $16.8 million in money market funds, respectively, considered to be cash equivalents.
Restricted cash – BioTime has a certificate of deposit in the amount of $847,000 included in deposits and other long-term assets as of December 31, 2017, as required under the Alameda Lease discussed in Note 12, as BioTime is restricted from using the cash for working capital purposes. On February 13, 2018, the landlord reduced the security deposit to $424,000 pursuant to the lease agreement.
Trade accounts and grants receivable, net – Net trade receivables amounted to $139,000 and $344,000 and grants receivable amounted to $641,000 and $102,000 as of December 31, 2017 and 2016, respectively. Net trade receivables include allowance for doubtful accounts of approximately $422,000 and $543,000 as of December 31, 2017 and 2016, respectively, for those amounts deemed uncollectible by BioTime. BioTime establishes an allowance for doubtful accounts based on the evaluation of the collectability of its receivables on a variety of factors, including the length of time receivables are past due, significant events that may impair the customer’s ability to pay, such as a bankruptcy filing or deterioration in the customer’s operating results or financial position, and historical experience. If circumstances related to customers change, estimates of the recoverability of receivables would be further adjusted.
Concentrations of credit risk – Financial instruments that potentially subject BioTime to significant concentrations of credit risk consist primarily of cash and cash equivalents. BioTime limits the amount of credit exposure of cash balances by maintaining its accounts in high credit quality financial institutions. Cash equivalent deposits with financial institutions may occasionally exceed the limits of insurance on bank deposits; however, BioTime has not experienced any losses on such accounts.
Fair Value Measurements – Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value (ASC 820-10-50), Fair Value Measurements and Disclosures:
In determining fair value, BioTime utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and also considers counterparty credit risk in its assessment of fair value. For the periods presented, BioTime has no financial assets or liabilities recorded at fair value on a recurring basis, except for cash and cash equivalents consisting of money market funds, shares BioTime holds in Asterias and OncoCyte and the available-for-sale securities, which are carried at fair value based on the applicable period-end quoted market prices as a Level 1 input. BioTime also has certain liability classified warrants issued by Cell Cure which are carried at fair value based on Level 3 inputs (see Note 10).
The fair value of BioTime’s assets and liabilities, which qualify as financial instruments under FASB guidance regarding disclosures about fair value of financial instruments, approximate the carrying amounts presented in the accompanying consolidated balance sheets. The carrying amounts of accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities approximate fair values because of the short-term nature of these items.
Equity method accounting for Asterias and OncoCyte, at fair value – BioTime uses the equity method of accounting when it has the ability to exercise significant influence, but not control, as determined in accordance with GAAP, over the operating and financial policies of a company. For equity method investments which BioTime has elected to measure at fair value, unrealized gains and losses are reported in the consolidated statements of operations in other income and expenses, net.
As further discussed in Notes 4 and 5, BioTime has elected to account for its Asterias and OncoCyte shares at fair value using the equity method of accounting because beginning on May 13, 2016 and February 17, 2017, the respective dates on which BioTime deconsolidated Asterias and OncoCyte, BioTime has not had control of Asterias and OncoCyte, as defined by GAAP since the applicable deconsolidation dates, but BioTime continues to exercise significant influence over Asterias and OncoCyte. Under the fair value method, the value of the shares of common stock BioTime holds in Asterias and OncoCyte is marked to market at each balance sheet date using the closing prices of Asterias and OncoCyte common stock on the NYSE American multiplied by the number of shares of Asterias and OncoCyte held by BioTime, with changes in the fair value of the Asterias and OncoCyte shares included in other income and expenses, net, in the consolidated statements of operations. The Asterias and OncoCyte shares are considered level 1 assets as defined by ASC 820.
Available-for-sale securities in foreign investments – BioTime accounts for the shares it holds in foreign equity securities as available-for-sale in accordance with ASC 320-10-25, Investments – Debt and Equity Securities, as the shares have a readily determinable fair value quoted on the Tel Aviv Stock Exchange (“TASE”) (under trading symbol “HDST”). These securities are held principally as available-for-sale to meet future working capital needs and are denominated in New Israeli Shekels (NIS). The securities are measured at fair value and reported as current assets on the consolidated balance sheets based on the closing trading price of the security as of the date being presented. Unrealized holding gains and losses, including changes in foreign currency exchange rates, are reported in other comprehensive income or loss, net of tax, and are a component of the accumulated other comprehensive income or loss on the consolidated balance sheet. Realized gains and losses, and declines in value judged to be other-than-temporary related to equity securities, are included in other income or expenses, net, in the consolidated statements of operations.
Property, plant and equipment, net – Property, plant and equipment is stated at cost and is being depreciated using the straight-line method over their estimated useful lives ranging from 3 to 10 years. Leasehold improvements are amortized over the shorter of the useful life or the lease term.
Long-lived intangible assets – Long-lived intangible assets, consisting primarily of acquired patents, patent applications, and licenses to use certain patents are stated at acquired cost, less accumulated amortization. Amortization expense is computed using the straight-line method over the estimated useful lives of the assets, generally over 10 years.
Impairment of long-lived assets – Long-lived assets, including long-lived intangible assets, are reviewed annually for impairment and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If an impairment indicator is present, BioTime evaluates recoverability by a comparison of the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. If the assets are impaired, the impairment recognized is measured by the amount by which the carrying amount exceeds the estimated fair value of the assets.
Treasury stock – BioTime accounts for BioTime common shares issued to subsidiaries for future potential working capital needs as treasury stock on the consolidated balance sheet. BioTime has registered the BioTime common shares held by its subsidiaries for sale under the Securities Act of 1933, as amended (the “Securities Act”) to enhance the marketability of the shares. Beginning on May 13, 2016 and February 17, 2017, the respective dates on which BioTime deconsolidated Asterias and OncoCyte, shares issued to those former subsidiaries are not treasury stock to BioTime and are included in BioTime’s total issued and outstanding common stock (see Note 10).
Accounting for warrants – BioTime determines the accounting classification of warrants that it or its subsidiaries issue, as either liability or equity, by first assessing whether the warrants meet liability classification in accordance with ASC 480-10, Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, and then in accordance with ASC 815-40, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock. Under ASC 480, warrants are considered liability classified if the warrants are mandatorily redeemable, obligate the issuer to settle the warrants or the underlying shares by paying cash or other assets, or warrants that must or may require settlement by issuing variable number of shares. If warrants do not meet liability classification under ASC 480-10, BioTime assesses the requirements under ASC 815-40, which states that contracts that require or may require the issuer to settle the contract for cash are liabilities recorded at fair value, irrespective of the likelihood of the transaction occurring that triggers the net cash settlement feature. If the warrants do not require liability classification under ASC 815-40, in order to conclude equity classification, BioTime assesses whether the warrants are indexed to its common stock or its subsidiary’s common stock, as applicable, and whether the warrants are classified as equity under ASC 815-40 or other applicable GAAP. After all relevant assessments are made, BioTime concludes whether the warrants are classified as liability or equity. Liability classified warrants are required to be accounted for at fair value both on the date of issuance and on subsequent accounting period ending dates, with all changes in fair value after the issuance date recorded in the consolidated statements of operations as a gain or loss. Equity classified warrants are accounted for at fair value on the issuance date with no changes in fair value recognized subsequent to the issuance date. In 2017, Cell Cure issued certain liability classified warrants (see Note 9).
Investments in Common Stock of Privately Held Companies – BioTime evaluates whether investments held in common stock of an investee require consolidation of the entity under, first, the variable interest entity (“VIE”) model, and then under the Voting Interest model in accordance with accounting guidance for consolidations under Accounting Standards Codification (“ASC”) 810-10. If consolidation of the entity is not required under either the VIE model or the Voting Interest model, BioTime determines whether the equity method of accounting should be applied in accordance with ASC 323, Investments – Equity Method and Joint Ventures. The equity method applies to investments in common stock or in-substance common stock if BioTime exercises significant influence over, but does not control, the entity, typically represented by ownership of 20% or more of the voting interests of an entity.
BioTime initially records equity method investments at fair value on the date of the acquisition with subsequent adjustments to the investment balance based on BioTime’s share of earnings or losses from the investment included in other income or expenses, net, on the consolidated statements of operations. The equity method investment balance is shown in noncurrent assets on the consolidated balance sheets.
BioTime reviews investments accounted for under the equity method for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be fully recoverable. If a determination is made that an “other-than-temporary” impairment exists, BioTime writes down its investment to fair value. Based on an evaluation and continuing losses and negative cash flows generated from the Ascendance investment, including uncertainty as to Ascendance’s ability to raise sufficient financing, BioTime determined that an other-than-temporary impairment existed on its equity method investment in Ascendance as of December 31, 2016, and BioTime wrote down the entire remaining $3.5 million carrying value of that investment included in other income and expenses, net.
Transactions with Noncontrolling Interests of Subsidiaries – BioTime accounts for a change in ownership interests in its subsidiaries that does not result in a change of control of the subsidiary by BioTime under the provisions of ASC 810-10-45-23, Consolidation – Other Presentation Matters, which prescribes the accounting for changes in ownership interest that do not result in a change in control of the subsidiary, as defined by GAAP, before and after the transaction. Under this guidance, changes in a controlling shareholder’s ownership interest that do not result in a change of control, as defined by GAAP, in the subsidiary are accounted for as equity transactions. Thus, if the controlling shareholder retains control, no gain or loss is recognized in the statements of operations of the controlling shareholder. Similarly, the controlling shareholder will not record any additional acquisition adjustments to reflect its subsequent purchases of additional shares in the subsidiary if there is no change of control. Only a proportional and immediate transfer of carrying value between the controlling and the noncontrolling shareholders occurs based on the respective ownership percentages.
Research and development – Research and development expenses consist of costs incurred for company-sponsored, collaborative and contracted research and development activities. These costs include direct and research-related overhead expenses including compensation and related benefits, stock-based compensation, consulting fees, research and laboratory fees, rent of research facilities, amortization of intangible assets, and license fees paid to third parties to acquire patents or licenses to use patents and other technology. Research and development are expensed as incurred. Research and development expenses incurred and reimbursed by grants from third parties approximate the grant income recognized in the consolidated statements of operations.
General and administrative – General and administrative expenses consist of compensation and related benefits, including stock-based compensation, for executive and corporate personnel; professional and consulting fees; and allocated overhead such as facilities and equipment rent and maintenance, insurance costs allocated to general and administrative expenses, costs of patent applications, prosecution and maintenance, stock exchange-related costs, depreciation expense, marketing costs, and other miscellaneous expenses which are allocated to general and administrative expense.
Foreign currency translation and other comprehensive loss, foreign currency transaction gains and losses – In countries in which BioTime operates where the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date. Revenues and expenses and cash flows are translated using an approximate weighted average exchange rate for the period. Resulting translation adjustments are recorded as a component of accumulated other comprehensive income or loss on the consolidated balance sheet. For the years ended December 31, 2017, 2016 and 2015, comprehensive income (loss) includes foreign currency translation adjustments, net of tax, of $668,000, ($106,000) and ($424,000), respectively.
For transactions denominated in other than the functional currency of BioTime or its subsidiaries, BioTime recognizes transaction gains and losses in the consolidated statements of operations and classifies the gain or loss based on the nature of the item that generated it. The majority of BioTime’s foreign currency transaction gains and losses are generated by Cell Cure’s intercompany debt due to BioTime (see Note 9), which are U.S. dollar-denominated, while Cell Cure’s functional currency is NIS. Accordingly, foreign currency remeasurement gains and losses related to this debt are included in other income and expenses, net.
Income taxes – BioTime accounts for income taxes in accordance with ASC 740, Income Taxes, which prescribe the use of the asset and liability method, whereby deferred tax asset or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect. Valuation allowances are established when necessary to reduce deferred tax assets when it is more likely than not that a portion or all of the deferred tax assets will not be realized. ASC 740 guidance also prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For benefits to be recognized, a tax position must be more-likely-than-not sustainable upon examination by taxing authorities. BioTime files a U.S. federal income tax return as well as various state and foreign income tax returns. BioTime’s judgments regarding future taxable income may change over time due to changes in market conditions, changes in tax laws, tax planning strategies or other factors. Certain majority-owned subsidiaries that BioTime consolidates under GAAP file their own, standalone federal income tax returns as those subsidiaries are not considered consolidated under federal income tax regulations, and accordingly, BioTime and those subsidiaries may not use each other’s tax attributes. If BioTime assumptions, and consequently the estimates, change in the future with respect to BioTime’s own deferred tax assets and liabilities, the valuation allowance may be increased or decreased, which may have a material impact on BioTime’s consolidated financial statements. BioTime recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense, however, no amounts were accrued for the payment of interest and penalties as of December 31, 2017 and 2016.
On December 22, 2017, the United States enacted major federal tax reform legislation, Public Law No. 115-97, commonly referred to as the 2017 Tax Cuts and Jobs Act (“2017 Tax Act”), which enacted a broad range of changes to the Internal Revenue Code. Changes to taxes on corporations impacted by the 2017 Tax Act include, among others, lowering the U.S. federal tax rates to a 21 percent flat tax rate, eliminating the corporate alternative minimum tax (“AMT”), imposing additional limitations on the deductibility of interest and net operating losses, allowing any net operating loss (“NOLs”) generated in tax years ending after December 31, 2017 to be carried forward indefinitely and generally repealing carrybacks, reducing the maximum deduction for NOL carryforwards arising in tax years beginning after 2017 to a percentage of the taxpayer’s taxable income, and allowing for the expensing of certain capital expenditures. The 2017 Tax Act also puts into effect a number of changes impacting operations outside of the United States including, but not limited to, the imposition of a one-time tax “deemed repatriation” on accumulated offshore earnings not previously subject to U.S. tax, and shifts the U.S taxation of multinational corporations from a worldwide system of taxation to a territorial system. ASC 740 requires the effects of changes in tax rates and laws on deferred tax balances (including the effects of the one-time transition tax) to be recognized in the period in which the legislation is enacted (see Note 13).
On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to provide guidance for companies that are not able to complete their accounting for the income tax effects of the 2017 Tax Act in the period of enactment. SAB 118 allows BioTime to record provisional amounts during a measurement period not to extend beyond one year of the enactment date (see Note 13).
Stock-based compensation – BioTime follows accounting standards governing share-based payments, which require the measurement and recognition of compensation expense for all share-based payment awards made to directors and employees, including employee stock options, based on estimated fair values. Upon adoption of ASU 2016-09 on January 1, 2017, forfeitures are accounted for as they occur instead of based on the number of awards that were expected to vest prior to adoption of ASU 2016-09. Based on the nature and timing of grants, straight line expense attribution of stock-based compensation for the entire award and the relatively low forfeiture rates on BioTime’s experience, the impact of adoption of ASU 2016-09 pertaining to forfeitures was not material to the consolidated financial statements. BioTime utilizes the Black-Scholes-Merton option pricing model for valuing share-based payment awards. BioTime’s determination of fair value of share-based payment awards on the date of grant using that option-pricing model is affected by BioTime’s stock price as well as by assumptions regarding a number of complex and subjective variables. These variables include, but are not limited to, BioTime’s expected stock price volatility over the term of the awards; the expected term of options granted, derived from historical data on employee exercises and post-vesting employment termination behavior; and a risk-free interest rate based on the U.S. Treasury rates in effect during the corresponding period of grant.
Certain of BioTime’s privately-held consolidated subsidiaries have their own share-based compensation plans. For share-based compensation awards granted by those privately-held consolidated subsidiaries under their respective equity plans, BioTime determines the expected stock price volatility using historical prices of comparable public company common stock for a period equal to the expected term of the options. The expected term of privately-held subsidiary options is based upon the “simplified method” provided under Staff Accounting Bulletin, Topic 14, or SAB Topic 14. The fair value of the shares of common stock underlying the stock options of the privately-held consolidated subsidiaries is determined by the Board of Directors of those subsidiaries, as applicable, which is also used to determine the exercise prices of the stock options at the time of grant.
Although the fair value of employee stock options is determined in accordance with FASB guidance, changes in the assumptions can materially affect the estimated value and therefore the amount of compensation expense recognized in the consolidated financial statements.
Basic and diluted net income (loss) per share attributable to common shareholders – Basic earnings per share is calculated by dividing net income or loss attributable to BioTime common shareholders by the weighted average number of common shares outstanding, net of unvested restricted stock or restricted stock units, subject to repurchase by BioTime, if any, during the period. Diluted earnings per share is calculated by dividing the net income or loss attributable to BioTime common shareholders by the weighted average number of common shares outstanding, adjusted for the effects of potentially dilutive common shares issuable under outstanding stock options and warrants, using the treasury-stock method, convertible preferred stock, if any, using the if-converted method, and treasury stock held by subsidiaries, if any.
For the year ended December 31, 2016, the primary components of weighted average shares of potentially dilutive common shares used to compute diluted net income per common share were approximately 2,030,000 BioTime common shares held by Asterias and OncoCyte (see Note 10), and approximately 206,000 restricted stock units and outstanding stock options.
For the years ended December 31, 2017 and 2015, because BioTime reported a net loss attributable to common stockholders, all potentially dilutive common stock is antidilutive.
The following common share equivalents were excluded from the computation of diluted net income (loss) per common share for the periods presented because including them would have been antidilutive (in thousands):
Adoption of ASU 2016-09, Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification on the statement of cash flows. BioTime adopted ASU 2016-09 beginning on January 1, 2017.
In connection with the adoption of ASU 2016-09, BioTime changed its accounting policies, including how it accounts for excess tax benefits and deficiencies, if any, and forfeitures, as applicable. All excess tax benefits and tax deficiencies from stock based compensation awards accounted for under ASC 718 are recognized as an income tax benefit or expense, respectively, in the consolidated statements of operations. Prior to the adoption of ASU 2016-09, BioTime recognized excess tax benefits, if any, in additional paid-in capital only if the tax deduction reduced cash income taxes payable and, excess tax deficiencies were recognized as an offset to accumulated excess tax benefits, if any, on BioTime’s consolidated statements of operations. An excess income tax benefit arises when the tax deduction of a share-based award for income tax purposes exceeds the compensation cost recognized for financial reporting purposes and, a tax deficiency arises when the compensation cost exceeds the tax deduction. Because BioTime had an insignificant number of stock option exercises during the year ended December 31, 2017, and because of BioTime’s full valuation allowance as of December 31, 2017 and 2016, the impact to BioTime’s consolidated statements of operations for any excess tax benefits or deficiencies was immaterial (see Note 13).
Forfeitures are now accounted for as they occur instead of based on the number of awards that were expected to vest. Based on (i) the nature and timing of BioTime’s grants, straight line expense attribution of stock based compensation for the entire award, and (ii) the relatively low forfeiture rates on BioTime’s experience, the impact of adoption of ASU 2016-09 pertaining to forfeitures was not material to BioTime’s consolidated financial statements.
Recently Issued Accounting Pronouncements – The following accounting standards, which are not yet effective, are presently being evaluated by BioTime to determine the impact that they might have on its consolidated financial statements.
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgments and estimates may be required in the revenue recognition process than are required under existing GAAP. The revised revenue standard is effective for public entities for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients; or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures).
The evaluation of the impact of adoption of ASU 2014-09 (Topic 606) on existing contracts with customers is still in process; however, BioTime does not expect the adoption of the new guidance will have a material impact to its consolidated financial statements. In performing this evaluation, BioTime has identified certain changes to business processes and internal controls relating to contracts and disclosures that are needed upon the adoption of the new guidance. BioTime will adopt this new standard on January 1, 2018, and plans on using the modified retrospective transition method, which requires the application of the new standard only to those contracts that were not completed as of the adoption date. Upon adoption of ASU 2014-09 and, if necessary, BioTime will recognize the cumulative effect of adopting this guidance as an adjustment to the opening consolidated accumulated deficit balance as of January 1, 2018. BioTime will continue to monitor industry activities and any additional guidance provided by regulators, standards setters, or the accounting profession and adjust its assessment and implementation plans accordingly.
In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, which requires lessees to recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. The update is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within that reporting period. Early adoption is permitted. BioTime is currently evaluating the impact the adoption of ASU 2016-02 will have on its consolidated financial statements.
On January 5, 2016, the FASB issued Accounting Standards Update 2016-01, “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). Changes to the GAAP model primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU 2016-01 clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The accounting for other financial instruments, such as loans, investments in debt securities, and financial liabilities is largely unchanged. The more significant amendments are to equity investments in unconsolidated entities. In accordance with ASU 2016-01, all equity investments in unconsolidated entities (other than those accounted for using the equity method of accounting) will generally be measured at fair value through earnings. There will no longer be an available-for-sale classification (changes in fair value reported in other comprehensive income) for equity securities with readily determinable fair values. The classification and measurement guidance will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Based on the current accounting for the HBL shares BioTime holds as available-for-sale foreign equity securities, BioTime does not expect the adoption of ASU 2016-01 will have a material impact to its consolidated financial statements. |
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- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Deconsolidation of OncoCyte and Asterias |
12 Months Ended |
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Dec. 31, 2017 | |
| Deconsolidation of OncoCyte and Asterias [Abstract] | |
| Deconsolidation of OncoCyte and Asterias |
3. Deconsolidation of OncoCyte and Asterias
On February 17, 2017, OncoCyte issued 625,000 shares of OncoCyte common stock to certain investors who exercised their OncoCyte warrants. The warrants had been issued as part of OncoCyte’s financing that was completed on August 29, 2016. As a result of the issuance of the 625,000 shares of OncoCyte common stock, beginning on February 17, 2017, BioTime owned less than 50% of the OncoCyte outstanding common stock and experienced a loss of control of the OncoCyte subsidiary. Under GAAP, loss of control of a subsidiary is deemed to have occurred when, among other things, a parent company owns less than a majority of the outstanding common stock of the subsidiary, lacks a controlling financial interest in the subsidiary, and is unable to unilaterally control the subsidiary through other means such as having the ability or being able to obtain the ability to elect a majority of the subsidiary’s Board of Directors. BioTime determined that all of those loss of control factors were present with respect to OncoCyte on February 17, 2017. Accordingly, BioTime deconsolidated OncoCyte’s financial statements and results of operations from BioTime, effective February 17, 2017, in accordance with ASC, 810-10-40-4(c), Consolidation, referred to as the “OncoCyte Deconsolidation”. For periods on and after February 17, 2017, BioTime is accounting for its retained noncontrolling investment in OncoCyte under the equity method of accounting and has elected the fair value option under ASC 825-10, Financial Instruments (see Note 4).
In connection with the OncoCyte Deconsolidation and in accordance with ASC 810-10-40-5, BioTime recorded a gain on deconsolidation of $71.7 million which is included in other income and expenses, net, in the condensed consolidated statements of operations for the year ended December 31, 2017.
BioTime held 14.7 million shares of OncoCyte common stock, or approximately 46.7% of OncoCyte outstanding common stock, as of December 31, 2017.
On May 13, 2016, Asterias completed the sale of 5,147,059 shares of its common stock and warrants to purchase 2,959,559 shares of its common stock, through an underwritten public offering (the “Asterias Offering”). As a result of the sale of Asterias common stock in the Asterias Offering and the issuance of 708,333 shares of Asterias common stock upon the exercise of certain stock options by a former Asterias executive, as of May 13, 2016, BioTime’s percentage ownership of the outstanding common stock of Asterias declined below 50%. On May 13, 2016, BioTime experienced a loss of control of Asterias under GAAP. Accordingly, BioTime has deconsolidated Asterias financial statements and results of operations from BioTime (the “Asterias Deconsolidation”), effective May 13, 2016, in accordance with ASC, 810-10-40-4(c), Consolidation. For periods on and after May 13, 2016, BioTime is accounting for the retained non-controlling interest in Asterias under the equity method of accounting and has elected the fair value option under ASC 825-10, Financial Instruments. (see Note 5)
In connection with the Asterias Deconsolidation and in accordance with ASC 810-10-40-5, BioTime recorded a gain on deconsolidation of $49.0 million during the year December 31, 2016 included in other income and expenses, net, in the consolidated statements of operations.
BioTime held 21.7 million shares of Asterias common stock, or approximately 40.2% of Asterias outstanding common stock, as of December 31, 2017. |
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- Definition The entire disclosure for deconsolidation of or with a subsidiary or entity acquiring the group of assets after it has been deconsolidated or derecognized. No definition available.
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Equity Method Accounting for Common Stock of OncoCyte, at Fair Value |
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| Equity Method Accounting for Common Stock of OncoCyte, at fair value [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Method Accounting for Common Stock of OncoCyte, at Fair Value |
4. Equity Method of Accounting for Common Stock of OncoCyte, at Fair Value
BioTime elected to account for its 14.7 million shares of OncoCyte common stock at fair value using the equity method of accounting beginning on February 17, 2017, the date of the OncoCyte Deconsolidation. The OncoCyte shares had a fair value of $68.2 million as of December 31, 2017 and a fair value of $71.2 million as of February 17, 2017, based on the $4.65 per share and $4.85 per share closing prices of OncoCyte common stock on the NYSE American on those respective dates. For the year ended December 31, 2017, BioTime recorded an unrealized loss of $2.9 million due to the decrease in the OncoCyte stock price from February 17, 2017 to December 31, 2017.
The condensed results of operations and condensed balance sheet information of OncoCyte are summarized below (in thousands):
The following table summarizes OncoCyte results of operations for the full years ended December 31, 2017, 2016 and 2015 (in thousands).
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- References No definition available.
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- Definition The entire disclosure for equity method accounting for common stock of OncoCyte, at fair value. No definition available.
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Equity Method Accounting for Common Stock of Asterias, at Fair Value |
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| Equity Method Accounting for Common Stock of Asterias, at fair value [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Method Accounting for Common Stock of Asterias, at Fair Value |
5. Equity Method of Accounting for Common Stock of Asterias, at Fair Value
BioTime elected to account for its 21.7 million shares of Asterias common stock at fair value using the equity method of accounting beginning on May 13, 2016, the date of the Asterias Deconsolidation. The Asterias shares had a fair value of $48.9 million as of December 31, 2017 and a fair value of $100 million as of December 31, 2016, based on the $2.25 and $4.60 closing prices of Asterias common stock on the NYSE American on those respective dates. For the year ended December 31, 2017, BioTime recorded an unrealized loss of $51.1 million on the Asterias shares due to the decrease in Asterias stock price from December 31, 2016 to December 31, 2017. The Asterias shares had a fair value of $100.0 million as of December 31, 2016 and a fair value of $65.7 million as of May 13, 2016, based on the $4.60 and $3.02 closing prices of Asterias common stock on the NYSE American on those respective dates. For the year ended December 31, 2016, BioTime recorded an unrealized gain of $34.3 million on the Asterias shares due to the increase in Asterias stock price from May 13, 2016 to December 31, 2016.
The condensed results of operations and condensed balance sheet information of Asterias are summarized below (in thousands):
The following table summarizes Asterias results of operations for the full years ended December 31, 2017, 2016 and 2015 (in thousands).
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- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for equity method accounting for common stock of Asterias, at fair value. No definition available.
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Property, Plant and Equipment, Net |
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| Property, Plant and Equipment, Net |
6. Property, Plant and Equipment, Net
At December 31, 2017 and 2016, property, plant and equipment were comprised of the following (in thousands):
Property, plant and equipment at December 31, 2017 and 2016 includes $151,000 and $626,000 financed by capital leases, respectively. Depreciation and amortization expense amounted to $0.9 million, $1.2 million and $1.1 million for the years ended December 31, 2017, 2016 and 2015, respectively.
Leasehold improvements
Leasehold improvements of approximately $1.6 million was transferred to property, plant and equipment as of June 1, 2016 when BioTime completed construction of leasehold improvements at its Alameda facility (see Note 12). Under the terms of the lease agreement, the landlord provided BioTime with an initial tenant improvement allowance of up to $1.4 million, which BioTime utilized entirely to construct a research and development laboratory, a diagnostic testing laboratory, and a small production facility that can be used to manufacture small cell banks and clinical materials for clinical studies. Additional leasehold improvements of approximately $200,000 paid by BioTime were not reimbursable by the landlord. The tenant improvements are amortized over the shorter of the useful life of the assets or the lease term. |
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Intangible Assets, Net |
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets, Net |
7. Intangible Assets, Net
At December 31, 2017 and 2016, intangible assets, primarily consisting of acquired patents and accumulated amortization were as follows (in thousands):
BioTime amortizes its intangible assets over an estimated period of 10 years on a straight-line basis. BioTime recognized $2.3 million, $3.6 million and $5.3 million in amortization expense of intangible assets during the years ended December 31, 2017, 2016 and 2015, respectively.
Amortization of intangible assets for periods subsequent to December 31, 2017 is as follows (in thousands):
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- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accounts Payable and Accrued Liabilities |
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| Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable and Accrued Liabilities |
8. Accounts Payable and Accrued Liabilities
At December 31, 2017 and 2016, accounts payable and accrued liabilities consist of the following (in thousands):
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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Related Party Transactions |
12 Months Ended |
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Dec. 31, 2017 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
9. Related Party Transactions
Related Party Convertible Debt
Cell Cure issued certain convertible promissory notes (the “Convertible Notes”) to Cell Cure shareholders other than BioTime. The functional currency of Cell Cure is the Israeli New Shekel however the Convertible Notes are payable in United States dollars. Consequently, at each balance sheet date, Cell Cure remeasures the Convertible Notes issued to BioTime and other Cell Cure shareholders using the current exchange rate at that date pursuant to ASC 830, Foreign Currency Matters. These foreign currency remeasurement gains and losses are included in other income and expense, net. The Convertible Notes bear a stated interest rate of 3% per annum. The total outstanding principal balance of the Convertible Notes, with accrued interest, were due and payable on various maturity dates in July 2017 and September 2017, and in February 2019 through August 2019. The outstanding principal balance of the Convertible Notes with accrued interest was convertible into Cell Cure ordinary shares at a fixed conversion price of $20.00 per share, at the election of the holder, at any time prior to maturity. Any conversion of the Convertible Notes was required to be settled with Cell Cure ordinary shares and not with cash. The conversion feature of the Convertible Notes issued was not accounted for as an embedded derivative under the provisions of ASC 815, Derivatives and Hedging since it was not a freestanding financial instrument and the underlying Cell Cure ordinary shares are not readily convertible into cash. Accordingly, the Convertible Notes were accounted for under ASC 470-20, Debt with Conversion and Other Options (ASC 470-20). Under ASC 470-20, BioTime determined that a beneficial conversion feature (“BCF”) was present on the issuance dates of the Convertible Notes. A conversion feature is beneficial if, on the issuance dates, the effective conversion price is less than the fair value of the issuer’s capital stock. Since the effective conversion price of $20.00 per share is less than the estimated range of fair values from $28.00 per share to $40.00 per share of Cell Cure ordinary shares on the dates the Convertible Notes were issued, a beneficial conversion feature, equal to the intrinsic value ranging from $8 per share to $20 per share, was present. In accordance with ASC 470-20-30-8, if the intrinsic value of the BCF is greater than the proceeds allocated to the convertible instrument, the amount of the discount assigned to the BCF is limited to the amount of the proceeds allocated to the convertible instrument. The BCF was recorded as an addition to equity with a corresponding debt discount on the Convertible Notes issuance date. This debt discount was amortized to interest expense using the effective interest method over the term of the debt, generally three years, representing an approximate effective annual interest rate between 11% and 23%. As of December 31, 2016, the carrying value of the Convertible Notes was $1,865,000, comprised of principal and accrued interest of $2,544,000, net of unamortized debt discount of $679,000.
On July 10, 2017, BioTime purchased all of the outstanding Cell Cure Convertible Notes and Cell Cure ordinary shares held by Hadasit Bio-Holdings Ltd. (“HBL”), a Cell Cure shareholder that owned 21.2% of the issued and outstanding Cell Cure ordinary shares (see Note 10) and substantially all of the Cell Cure Convertible Notes issued by Cell Cure to shareholders other than BioTime. BioTime issued 1,220,207 common shares valued at $3.8 million to purchase the Cell Cure ordinary shares and 2,776,662 common shares valued at $8.6 million to purchase the Cell Cure Convertible Notes held by HBL. The value of the BioTime common stock issued was determined based on the closing price of BioTime common shares on the NYSE American on July 10, 2017, or $3.09 per share (see Note 10).
The purchase of the Cell Cure Convertible Notes from HBL was accounted for as an extinguishment of a convertible debt with a beneficial conversion feature under ASC 470-50-40, Debt – Modifications and Extinguishments. This guidance requires an entity to recognize the difference between the reacquisition price and the net carrying value of the extinguished debt, including any unamortized discount relating to the BCF, as a gain or loss on extinguishment in the statement of operations. The entity must also calculate the intrinsic value, if any, of the conversion option of the debt and charge this amount to equity and allocate the remainder of the reacquisition price to the extinguishment of the debt and record a gain or loss on debt extinguishment by comparing the reacquisition price allocated to the debt with the net carrying value amount of the debt.
In connection with the purchase of all of the outstanding Cell Cure Convertible Notes from HBL and in accordance with ASC 470-50-40, BioTime recorded a charge to equity of $3.1 million representing the intrinsic value of the conversion option of the Cell Cure Convertible Notes, and a $2.8 million noncash loss on debt extinguishment included in other income and expenses, net, during the year ended December 31, 2017.
Shared Facilities and Service Agreements with Affiliates
The receivables from affiliates shown on the condensed consolidated balance sheet as of December 31, 2017 primarily represents amounts owed to BioTime from OncoCyte under a Shared Facilities and Service Agreement (the “Shared Facilities Agreement”). Under the terms of the Shared Facilities Agreement, BioTime allows OncoCyte to use BioTime’s premises and equipment located at Alameda, California for the sole purpose of conducting business. BioTime also provides accounting, billing, bookkeeping, payroll, treasury, payment of accounts payable, and other similar administrative services to OncoCyte. BioTime may also provide the services of attorneys, accountants, and other professionals who may also provide professional services to BioTime and its other subsidiaries. BioTime also has provided OncoCyte with the services of laboratory and research personnel, including BioTime employees and contractors, for the performance of research and development work for OncoCyte at the premises.
BioTime charges OncoCyte a “Use Fee” for services provided and usage of BioTime facilities, equipment, and supplies. For each billing period, BioTime prorates and allocates to OncoCyte costs incurred, including costs for services of BioTime employees and use of equipment, insurance, leased space, professional services, software licenses, supplies and utilities. The allocation of costs depends on key cost drivers, including actual documented use, square footage of facilities used, time spent, costs incurred by BioTime for OncoCyte, or upon proportionate usage by BioTime and OncoCyte, as reasonably estimated by BioTime. BioTime, at its discretion, has the right to charge OncoCyte a 5% markup on such allocated costs although BioTime elected not to charge this markup from the inception of the Shared Facilities Agreement through December 31, 2015. For allocated costs incurred on and after January 1, 2016, BioTime is charging the 5% markup. The allocated cost of BioTime employees and contractors who provide services is based upon records maintained of the number of hours of such personnel devoted to the performance of services.
The Use Fee is determined and invoiced to OncoCyte on a quarterly basis for each calendar quarter of each calendar year. If the Shared Facilities Agreement terminates prior to the last day of a billing period, the Use Fee will be determined for the number of days in the billing period elapsed prior to the termination of the Shared Facilities Agreement. Each invoice will be payable in full by OncoCyte within 30 days after receipt. Any invoice, or portion thereof, not paid in full when due will bear interest at the rate of 15% per annum until paid, unless the failure to make a payment is due to any inaction or delay in making a payment by BioTime employees from OncoCyte funds available for such purpose, rather than from the unavailability of sufficient funds legally available for payment or from an act, omission, or delay by any employee or agent of OncoCyte. Through December 31, 2017, BioTime has not charged OncoCyte any interest.
In addition to the Use Fees, OncoCyte will reimburse BioTime for any out of pocket costs incurred by BioTime for the purchase of office supplies, laboratory supplies, and other goods and materials and services for the account or use of OncoCyte, provided that invoices documenting such costs are delivered to OncoCyte with each invoice for the Use Fee. BioTime will have no obligation to purchase or acquire any office supplies or other goods and materials or any services for OncoCyte, and if any such supplies, goods, materials or services are obtained for OncoCyte, BioTime may arrange for the suppliers to invoice OncoCyte directly.
The Shared Facilities Agreement will remain in effect, unless either party gives the other party written notice stating that the Shared Facilities Agreement will terminate on December 31 of that year, or unless the agreement is otherwise terminated under another provision of the agreement.
As of December 31, 2017, BioTime has a $2.1 million receivable from OncoCyte included in receivable from affiliates, net, on account of Use Fees incurred by OncoCyte under the Shared Facilities Agreement. Since these amounts are due and payable within 30 days of being invoiced, the receivable is classified as a current asset. For the period from February 17, 2017 through December 31, 2017, OncoCyte paid approximately $1.6 million in Use Fees to BioTime included as a reduction of general and administrative expenses. The remaining $0.2 million receivable from affiliate is due from Ascendance Biotechnology, Inc. (“Ascendance”), an equity method investee of AgeX and former investee of BioTime (see Note 10), net of allowance for doubtful accounts, for similar shared services performed by BioTime for Ascendance. BioTime has a similar Shared Facilities Agreement with Asterias and, as of December 31, 2017, there was a net payable to Asterias of $33,000. As of December 31, 2016, BioTime had a receivable from Asterias of approximately $0.3 million.
BioTime accounts for receivables from affiliates, net of payables to affiliates, if any, for similar shared services and other transactions BioTime’s consolidated subsidiaries may enter into with nonconsolidated affiliates. BioTime and the affiliates record those receivables and payables on a net basis since BioTime and the affiliate have a legal right of offset of the receivable and the payable, intend to offset those receivables and payables, and settle the balances net by having the party that owes the other party pay the net balance owed.
Other related party transactions
In connection with the capitalization of AgeX as discussed in Note 10, Alfred D. Kingsley, the Chairman of BioTime’s Board of Directors, purchased 200,000 shares of AgeX common stock. The AgeX shares were sold at the same price of $2.00 per share and on the same terms as shares were sold to other investors in AgeX pursuant to a series of Stock Purchase Agreements of like tenor.
Mr. Kingsley acquired an additional 421,500 AgeX shares valued at $2.00 per share from BioTime in exchange for 300,000 BioTime common shares owned by Mr. Kingsley valued at $2.81 per share. In connection with its exchange of AgeX shares for BioTime shares with Mr. Kingsley, BioTime sold 300,000 BioTime common shares to an unaffiliated and existing BioTime investor also for $2.81 per share (see Note 10). The BioTime common shares acquired from Mr. Kingsley were immediately retired as authorized but unissued shares.
BioTime currently pays $5,050 per month for the use of approximately 900 square feet of office space in New York City, which is made available to BioTime on a month-by-month basis by one of its directors at an amount that approximates his cost. |
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- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Shareholders' Equity |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders' Equity |
10. Shareholders’ Equity
Preferred Shares
BioTime is authorized to issue 2,000,000 shares of preferred stock. The preferred shares may be issued in one or more series as the board of directors may by resolution determine. The board of directors is authorized to fix the number of shares of any series of preferred shares and to determine or alter the rights, preferences, privileges, and restrictions granted to or imposed on the preferred shares as a class, or upon any wholly unissued series of any preferred shares. The board of directors may, by resolution, increase or decrease (but not below the number of shares of such series then outstanding) the number of shares of any series of preferred shares subsequent to the issue of shares of that series. As of December 31, 2017, no shares of preferred stock were issued or outstanding.
Common Shares
BioTime is authorized to issue 150,000,000 common shares with no par value. As of December 31, 2017, BioTime had 126,865,634 issued and outstanding common shares. As of December 31, 2016, BioTime had 103,396,245 issued and 102,776,539 outstanding common shares. The difference of 619,706 common shares as of December 31, 2016 is attributed to shares held by BioTime subsidiaries which are accounted for as treasury stock on the consolidated balance sheet. On February 17, 2017, and in connection with the OncoCyte Deconsolidation, those treasury shares were considered to be issued and outstanding BioTime common shares. As of December 31, 2017, there are no outstanding shares of treasury stock.
On October 17, 2017, BioTime completed a public offering of 11,057,693 common shares at a price of $2.60 per share, including the underwriters’ full exercise of their over-allotment option to purchase additional shares. The public offering generated net proceeds to BioTime of approximately $26.7 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by BioTime.
On July 10, 2017, BioTime issued 4,924,542 common shares valued at $15.2 million to purchase outstanding Cell Cure Convertible Notes and additional Cell Cure ordinary shares from noncontrolling interests in Cell Cure as further described in Note 9 and Transactions with Noncontrolling Interests of Cell Cure section below, respectively.
On April 6, 2017, BioTime, entered into a Controlled Equity OfferingSM Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co., as sales agent (“Cantor Fitzgerald”), pursuant to which BioTime may offer and sell, from time to time, through Cantor Fitzgerald, shares of BioTime common stock, no par value per share, having an aggregate offering price of up to $25,000,000. BioTime is not obligated to sell any shares under the Sales Agreement. Subject to the terms and conditions of the Sales Agreement, Cantor Fitzgerald will use commercially reasonable efforts, consistent with its normal trading and sales practices, applicable state and federal law, rules and regulations, and the rules of the NYSE American, to sell the shares from time to time based upon BioTime’s instructions, including any price, time or size limits specified by BioTime. Under the Sales Agreement, Cantor Fitzgerald may sell the shares by any method deemed to be an “at-the-market” offering as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, or by any other method permitted by law, including in privately negotiated transactions. Cantor Fitzgerald’s obligations to sell the shares under the Sales Agreement are subject to satisfaction of certain conditions, including the continued effectiveness of BioTime’s Registration Statement on Form S-3 which became effective on May 5, 2017. In connection with the capitalization of AgeX on August 17, 2017 discussed below, BioTime acquired 300,000 BioTime common shares from Alfred D. Kingsley in exchange for 421,500 shares of AgeX common stock owned by BioTime, as discussed in Note 9, and BioTime sold 300,000 common shares under the Sales Agreement to an unaffiliated and existing BioTime investor for $2.81 per share. The BioTime common shares received from Mr. Kingsley were immediately retired as authorized but unissued shares (see Note 9). Although the transaction between Mr. Kingsley and BioTime was an exchange of shares, the proceeds from the sale of BioTime shares to the unrelated investor and the BioTime shares acquired from Mr. Kingsley are presented gross as separate cash items on the Consolidated Statements of Cash Flows for the year ended December 31, 2017, in accordance with ASC 230-10-45, Statement of Cash Flows – Other Presentation Matters.
BioTime will pay Cantor Fitzgerald a commission of 3.0% of the aggregate gross proceeds from each sale of shares, reimburse legal fees and disbursements and provide Cantor Fitzgerald with customary indemnification and contribution rights. The Sales Agreement may be terminated by Cantor Fitzgerald or BioTime at any time upon notice to the other party, or by Cantor Fitzgerald at any time in certain circumstances, including the occurrence of a material and adverse change in BioTime’s business or financial condition that makes it impractical or inadvisable to market the shares or to enforce contracts for the sale of the shares.
On February 15, 2017, BioTime sold 7,453,704 common shares in an underwritten public offering. The offering price to the public was $2.70 per share and net proceeds to BioTime were approximately $18.5 million, after deducting underwriting discounts, commissions and expenses related to the financing.
On June 16, 2016, BioTime sold 7,322,176 common shares in an underwritten public offering at a public offering price of $2.39 per share, for net proceeds of $16.4 million, after deducting underwriting discounts and commissions and other expenses. On July 5, 2016, BioTime issued an additional 1,098,326 common shares upon the full exercise of the over-allotment option by the underwriters for net proceeds of $2.2 million, after deducting underwriting discounts.
Significant common share transactions during the year ended December 31, 2015 are as follows:
BioTime Warrants
BioTime has issued equity-classified warrants to purchase its common shares. Activity related to warrants in 2017, 2016, and 2015 is presented in the table below (in thousands, except price per share):
Transactions with Noncontrolling Interests of Asterias and OncoCyte
BioTime accounts for a change in ownership interests in its subsidiaries that does not result in a change of control of the subsidiary by BioTime under the provisions of ASC 810-10-45-23, which prescribes the accounting for changes in ownership interest that do not result in a change in control of the subsidiary, as defined by GAAP, before and after the transaction. Under this guidance, changes in a controlling shareholder’s ownership interest that do not result in a change of control, as defined by GAAP, in the subsidiary are accounted for as equity transactions. Thus, if the controlling shareholder, through a purchase or sale or otherwise, increases or decreases its ownership interest in the subsidiary and retains control, no gain or loss is recognized in the statement of operations of the controlling shareholder. Similarly, the controlling shareholder will not record any additional acquisition adjustments to reflect its subsequent purchases of additional shares in the subsidiary if there is no change of control. Only a proportional and immediate transfer of carrying value between the controlling and the noncontrolling shareholders occurs based on the respective ownership percentages.
The subsidiary financing transactions with noncontrolling interests in Asterias for $18.3 million, and OncoCyte for $4.0 million, reported in the consolidated statements of shareholders’ equity for the year ended December 31, 2016, represent this proportional transfer of carrying value to BioTime pertaining to investments in Asterias and OncoCyte common stock made by noncontrolling shareholders in which BioTime’s ownership was reduced, but not below 50%.
Transactions with Noncontrolling Interests of Cell Cure
On July 10, 2017, BioTime purchased all of the outstanding Cell Cure Convertible Notes and Cell Cure ordinary shares held by HBL, a former Cell Cure shareholder that owned 21.2% of the issued and outstanding Cell Cure ordinary shares and substantially all of the Cell Cure Convertible Notes issued by Cell Cure shareholders other than BioTime (see Note 9). On the same date, BioTime also purchased all of the Cell Cure ordinary shares owned by Teva Pharmaceutical Industries, Ltd. (“Teva”), a former Cell Cure shareholder that owned 16.1% of the issued and outstanding Cell Cure ordinary shares. BioTime issued 2,147,880 common shares valued at $6.6 million based on the closing price of BioTime common shares on the NYSE American to acquire the Cell Cure ordinary shares from HBL and Teva. Prior to the consummation of the transactions with HBL and Teva, BioTime held 62.5% of the issued and outstanding Cell Cure ordinary shares and upon the consummation of the transactions BioTime held 99.8%. Accordingly, BioTime recorded a corresponding charge to equity of $10.1 million and a proportional transfer of carrying value of $3.5 million for purchase of noncontrolling interests in Cell Cure, included in the consolidated statement of shareholders’ equity for the year ended December 31, 2017, in accordance with ASC 810-10-45-23.
On July 10, 2017, as an inducement to HBL to sell their Cell Cure ordinary shares to BioTime, Cell Cure issued 24,566 warrants to HBL (the “HBL Warrants”) to purchase Cell Cure ordinary shares at an exercise price of $40.5359 per warrant share, payable in U.S. dollars, the same Cell Cure price per ordinary share paid by BioTime to each of HBL and Teva for the purchase of their Cell Cure ordinary shares as discussed above. No warrants were issued to Teva. The HBL Warrants are immediately exercisable and expire on the earliest of the lapse of 5 years from the issuance date or immediately prior to the closing of a Corporate Transaction or an initial public offering, as defined in the HBL Warrant Agreements. Since the exercise price is U.S. dollar-denominated and settlement is not expected to occur in the next twelve months, Cell Cure classified the HBL Warrant as a long-term liability in accordance with ASC 815, Derivatives and Hedging. ASC 815 requires freestanding financial instruments, such as warrants, with exercise prices denominated in currencies other than the functional currency of the issuer to be accounted for as liabilities at fair value, with all subsequent changes in fair value after the issuance date to be recorded in the statements of operations.
The fair value of the HBL Warrants at the time of issuance was determined by using the Black-Scholes-Merton option pricing model using the contractual term of the warrants. In applying this model, the fair value is determined by applying Level 3 inputs, as defined by ASC 820; these inputs are based on certain key assumptions including the fair value of the Cell Cure ordinary shares and the expected stock price volatility over the term of the warrants. The fair value of the Cell Cure ordinary shares is determined by Cell Cure's Board of Directors, which, among other methods, may include engaging valuation specialists to estimate the fair value or use recent transactions, if any or as applicable, as a reasonable approximation of fair value. BioTime determines the stock price volatility using historical prices of comparable public company common stock for a period equal to the remaining term of the warrants. The HBL Warrants are revalued each reporting period using the same methodology described above. Changes in any of the key assumptions used to value the HBL Warrants could materially impact the fair value of the warrants and BioTime's consolidated financial statements.
For the year ended December 31, 2017, Cell Cure recorded a noncash expense of $555,000 included in general and administrative expenses. As of December 31, 2017, the HBL Warrants, valued at $535,000 were included in other long-term liabilities on the consolidated balance sheet.
See Note 9 for the accounting of the purchase of the Cell Cure Convertible Notes from HBL.
On October 4, 2017, a Cell Cure option holder exercised Cell Cure stock options to purchase 4,400 Cell Cure ordinary shares, reducing BioTime’s ownership from 99.8% to 98.8% of total issued and outstanding Cell Cure ordinary shares.
Transactions with Noncontrolling Interests of AgeX Therapeutics, Inc.
AgeX was incorporated in January 2017 for the purpose of acquiring and developing BioTime technology relating to cell immortality and regenerative biology by developing products for the treatment of aging and age-related diseases. Initial product development plans include: pluripotent stem cell-derived brown adipocytes (AGEX-BAT1); vascular progenitors (AGEX-VASC1); and induced Tissue Regeneration (iTR). Initial planned indications for these products are type II diabetes, cardiac ischemia, and cancer, respectively.
On August 17, 2017, AgeX received its initial assets and cash from BioTime and certain investors. BioTime contributed certain assets and cash to AgeX in exchange for 28,800,000 shares of AgeX common stock pursuant to an Asset Contribution and Separation Agreement (the “Asset Contribution Agreement”). BioTime and AgeX also entered into a License Agreement pursuant to which BioTime licensed or sublicensed to AgeX, and AgeX granted to BioTime an option to license back, certain patent rights. Concurrently with the acquisition of assets from BioTime under the Asset Contribution Agreement, AgeX sold 4,950,000 shares of its common stock for $10.0 million in cash primarily to investors, which included the Chairman of BioTime’s Board of Directors (see Note 9). At the close of the financing, BioTime owned 85.4% of the issued and outstanding shares of AgeX common stock.
The AgeX shares were offered and sold without registration under the Securities Act of 1933, as amended (the “Securities Act”) in reliance on exemptions from registration under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D and Regulation S thereunder. AgeX has agreed to use commercially reasonable efforts to register the shares of AgeX common stock issued to the AgeX investors for sale under the Securities Act.
Asset Contribution Agreement
Assets Contributed:
Pursuant to the Asset Contribution Agreement, BioTime contributed to AgeX the following assets:
Assumption of Liabilities:
AgeX agreed to assume all third-party obligations and liabilities related to the assets contributed and contracts assigned to AgeX or the operation of the AgeX related business.
Other Matters:
The Asset Contribution Agreement also sets forth other terms that govern certain aspects of BioTime’s ongoing relationship with AgeX if in the future BioTime determines to distribute its AgeX shares to BioTime shareholders.
License Agreement
Concurrently with the contribution of assets to AgeX under the Asset Contribution Agreement, BioTime and AgeX entered into a License Agreement pursuant to which BioTime has licensed to AgeX, with rights to sublicense, certain intellectual property, including patents and patent applications and know-how for use in the development, manufacture and commercialization of products or services for the prevention, treatment, amelioration, diagnosis or monitoring of all human and non-human animal diseases and conditions except for the field of medical products, devices and services for the reserved BioTime fields of orthopedic, ophthalmic and medical aesthetic uses. In addition, BioTime retained an option right to license, on terms to be negotiated, iTR patents in research, development, manufacturing and commercialization of treatments in the reserved BioTime fields. The licensed patents and know-how relate generally to (a) BioTime’s PureStem® human embryonic progenitor cell lines, and (b) telomere length and DNA quality control analysis in pluripotent stem cells.
The BioTime patent rights licensed to AgeX are exclusive and worldwide except for existing third-party licenses, and for medical products, devices, and services related to tendon. AgeX additionally received an option to license certain BioTime retained patent rights outside of orthopedic indications unless a license grant would compete with a BioTime program or products in the retained BioTime field.
The Asset Contribution Agreement transactions were completed between entities under common control and the assets contributed by BioTime to AgeX were transferred at historical carrying values with no gain or loss recognized in accordance with ASC 810-10-45-23. As a result, pursuant to the new cash investment made by the outside noncontrolling interests in AgeX, this transaction resulted in a $8.2 million proportional equity transfer, at carrying value, from noncontrolling interests in AgeX to BioTime recorded in consolidated shareholders’ equity for the year ended December 31, 2017.
Transactions with Noncontrolling Interests of Other Subsidiaries
On June 6, 2017, BioTime increased its ownership in LifeMap Sciences from 78% to 82% and obtained a direct 100% ownership interest in LifeMap Solutions, of which 78% was previously indirectly owned by BioTime through LifeMap Sciences, for settlement and cancellation of certain intercompany debt owed by LifeMap Sciences. In 2017, certain OrthoCyte option holders exercised OrthoCyte stock options to purchase 51,000 shares of OrthoCyte common stock reducing BioTime’s ownership from 100% to 99.8% of total issued and outstanding shares of OrthoCyte common stock. On August 17, 2017, pursuant to the Asset Contribution Agreement between BioTime and AgeX discussed above, BioTime contributed its direct ownership in ReCyte Therapeutics and LifeMap Sciences to AgeX, and after the contribution BioTime owns these subsidiaries indirectly through its 85.4% direct ownership of AgeX. All of these transactions were between entities under common control and the changes in ownership interests did not result in a change of control under GAAP. Accordingly, BioTime recorded a $5.5 million net proportional equity transfer, at carrying values, from noncontrolling interests in these subsidiaries to BioTime included in consolidated shareholders’ equity for the year ended December 31, 2017, in accordance with ASC 810-10-45-23. |
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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Option Plans |
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| Stock Option Plans |
11. Stock Option Plans
During 2002, BioTime adopted the 2002 Employee Stock Option Plan (the “2002 Plan”), which was amended in 2004, 2007, and 2009 to reserve additional common shares for issuance under options or restricted stock awards granted to eligible persons. The 2002 Plan expired during September 2012 and no additional grants of options or awards of restricted stock may be made under the 2002 Plan.
During December 2012, BioTime’s Board of Directors approved the 2012 Equity Incentive Plan (the “2012 Plan”), which was amended during 2017, under which BioTime has reserved 16,000,000 common shares for the grant of stock options or the sale of restricted stock or other equity awards. No options may be granted under the 2012 Plan more than ten years after the date upon which the 2012 Plan was adopted by the Board of Directors, and no options granted under the 2012 Plan may be exercised after the expiration of ten years from the date of grant. Under the 2012 Plan, options to purchase common shares may be granted to employees, directors and certain consultants at prices not less than the fair market value at date of grant, subject to certain limited exceptions for options granted in substitution of other options. Options may be fully exercisable immediately, or may be exercisable according to a schedule or conditions specified by the Board of Directors or the Compensation Committee of the Board of Directors. The 2012 Plan also permits BioTime to award restricted stock for services rendered or to sell common shares to employees subject to vesting provisions under restricted stock agreements that provide for forfeiture of unvested shares upon the occurrence of specified events under a restricted stock award agreement. BioTime may permit employees or consultants, but not officers or directors, who purchase stock under restricted stock purchase agreements, to pay for their shares by delivering a promissory note that is secured by a pledge of their shares.
BioTime may also grant stock appreciation rights (“SARs”) and hypothetical units issued with reference to BioTime common shares (“Restricted Stock Units”) under the Plan. An SAR is the right to receive, upon exercise, an amount payable in cash or shares or a combination of cash and shares, as determined by the Board of Directors or the Compensation Committee, equal to the number of shares subject to the SAR that is being exercised multiplied by the excess of (a) the fair market value of a BioTime common share on the date the SAR is exercised, over (b) the exercise price specified in the SAR Award agreement.
The terms and conditions of a grant of Restricted Stock Units will be determined by the Board of Directors or Compensation Committee. No shares of stock will be issued at the time a Restricted Stock Unit is granted, and BioTime will not be required to set aside a fund for the payment of any such award. A recipient of Restricted Stock Units will have no voting rights with respect to the Restricted Stock Units. Upon the expiration of the restrictions applicable to a Restricted Stock Unit, BioTime will either issue to the recipient, without charge, one common share per Restricted Stock Unit or cash in an amount equal to the fair market value of one common share.
The following table summarizes consolidated stock-based compensation expense, including equity awards by privately-held consolidated subsidiaries, related to stock options and other equity awards for the years ended December 31, 2017, 2016, and 2015, which was allocated as follows (in thousands):
As of December 31, 2017, total unrecognized compensation costs related to unvested stock options under BioTime’s 2002 Plan and 2012 Plan was $3.7 million, which is expected to be recognized as expense over a weighted average period of approximately 2.44 years.
The weighted-average estimated fair value of stock options granted under BioTime’s 2002 Plan and 2012 Plan during the years ended December 31, 2017, 2016 and 2015 was $1.65, $1.69 and $2.13 per share respectively, using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:
General Option Information
A summary of all equity award activity under BioTime’s 2002 Plan and 2012 Plan for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands except weighted average exercise price):
During the year ended December 31, 2016, BioTime issued 81,603 immediately vested common shares in lieu of cash under the 2012 Plan. Those shares are not RSUs but are included in the reduction of approximately 163,000 aggregate shares from the total pool of shares available for grant in the table above. Common shares issued and RSUs granted from the 2012 Plan reduce the shares available for grant by two shares for each common share issued or RSU granted. No such grants were made in 2017.
Additional information regarding options outstanding under BioTime’s 2002 Plan and 2012 Plan as of December 31, 2017 is as follows (in thousands except exercise prices and weighted average exercise price):
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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies |
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| Commitments and Contingencies |
12. Commitments and Contingencies
Alameda Lease
On December 10, 2015, BioTime entered into a lease for approximately 30,795 square feet of rentable space in two buildings located in an office park in Alameda, California (the “Alameda Lease”). The term of the Alameda Lease is seven years and BioTime has an option to renew the term for an additional five years. BioTime moved into the facility and the term of the Alameda Lease commenced effective February 1, 2016.
The landlord provided BioTime with an initial tenant improvement allowance of $1.4 million that was applied to the construction of improvements of the leased premises, primarily for the research and development facilities. BioTime utilized the tenant improvement allowance to complete the leasehold improvements as of June 1, 2016 (see Note 6). The lease liability payments are included in the base rent payments to the landlord and the $1.2 million due to the landlord as of December 31, 2017, will be amortized using the effective interest method over the lease term.
Base rent under the Alameda Lease commenced on February 1, 2016 at $64,670 per month, and will increase by approximately 3% annually on every February 1 thereafter during the lease term. The lease payments allocated to the landlord liability are amortized as debt service on that liability over the lease term.
In addition to base rent, BioTime will pay a pro rata portion of increases in certain expenses, including real property taxes, utilities (to the extent not separately metered to the leased space) and the landlord’s operating expenses, over the amounts of those expenses incurred by the landlord during 2017. As security for the performance of its obligations under the Alameda Lease, BioTime provided the landlord with an initial security deposit of approximately $847,000, which will be reduced by $423,000 after the first twenty-four months of the lease term, and further reduced by an additional $346,000 after the first thirty-six months of the lease term, by applying those amounts to future rent payment obligations under the lease, if BioTime is not in default under the Lease. On February 1, 2018, the landlord reduced the security deposit by $423,000 pursuant to the lease agreement.
New York Leased Office Space
BioTime also currently pays $5,050 per month for the use of office space in New York City, which is made available to BioTime by one of its directors at his cost for use in conducting meetings and other business affairs.
Cell Cure Lease
Cell Cure has leased 1,128 square meters (approximately 12,142 square feet) of office and laboratory space in Jerusalem, Israel under a lease that expires between May 30, 2019 and December 31, 2020, with two additional options to extend the lease for 5 years each. Base monthly rent is NIS 63,402 (approximately US $18,247 per month using the December 31, 2017 exchange rate). In addition to base rent, Cell Cure pays a pro rata share of real property taxes and certain costs related to the operation and maintenance of the building in which the leased premises are located. As further disclosed in Note 17, on January 28, 2018, Cell Cure entered into another lease agreement with its current landlord.
Annual Rent Expense and Future Minimum Lease Payments
Rent expense totaled $1.1 million, $1.5 million, and $2.1 million for the years ended December 31, 2017, 2016, and 2015, respectively, included in the consolidated statements of operations.
Future minimum annual lease payments under the various operating leases, including the Alameda Lease and the landlord lease liability, Cell Cure lease noted above, and capital leases, for the years ending after December 31, 2017 are as follows (in thousands):
Litigation – General
BioTime will be subject to various claims and contingencies in the ordinary course of its business, including those related to litigation, business transactions, employee-related matters, and others. When BioTime is aware of a claim or potential claim, it assesses the likelihood of any loss or exposure. If it is probable that a loss will result and the amount of the loss can be reasonably estimated, BioTime will record a liability for the loss. If the loss is not probable or the amount of the loss cannot be reasonably estimated, BioTime discloses the claim if the likelihood of a potential loss is reasonably possible and the amount involved could be material. BioTime is not aware of any claims likely to have a material adverse effect on its financial condition or results of operations.
Employment Contracts
BioTime has entered into employment agreements with certain executive officers. Under the provisions of the agreements, BioTime may be required to incur severance obligations for matters relating to changes in control, as defined in the agreements, and involuntary terminations.
Indemnification
In the normal course of business, BioTime may provide indemnifications of varying scope under BioTime’s agreements with other companies or consultants, typically BioTime’s clinical research organizations, investigators, clinical sites, suppliers and others. Pursuant to these agreements, BioTime will generally agree to indemnify, hold harmless, and reimburse the indemnified parties for losses and expenses suffered or incurred by the indemnified parties arising from claims of third parties in connection with the use or testing of BioTime’s products and services. Indemnification provisions could also cover third party infringement claims with respect to patent rights, copyrights, or other intellectual property pertaining to BioTime products and services. The term of these indemnification agreements will generally continue in effect after the termination or expiration of the particular research, development, services, or license agreement to which they relate. The potential future payments BioTime could be required to make under these indemnification agreements will generally not be subject to any specified maximum amount. Historically, BioTime has not been subject to any claims or demands for indemnification. BioTime also maintains various liability insurance policies that limit BioTime’s financial exposure. As a result, BioTime believes the fair value of these indemnification agreements is minimal. Accordingly, BioTime has not recorded any liabilities for these agreements as of December 31, 2017 and 2016.
Second Amended and Restated License Agreement
On June 15, 2017, Cell Cure entered into a Second Amended and Restated License Agreement (the “License Agreement”) with Hadasit Medical Research Services and Development Ltd. (“Hadasit”), the commercial arm and a wholly-owned subsidiary of Hadassah Medical Organization. Pursuant to the License Agreement, Hadasit granted Cell Cure an exclusive, worldwide, royalty bearing license (with the right to grant sublicenses) in its intellectual property portfolio of materials and technology related to human stem cell derived photoreceptor cells and retinal pigment epithelial cells (the “Licensed IP”), to use, commercialize and exploit any part thereof, in any manner whatsoever in the fields of the development and exploitation of (i) human stem cell derived photoreceptor cells, solely for use in cell therapy for the diagnosis, amelioration, prevention and treatment of eye disorders, and (ii) human stem cell derived retinal pigment epithelial cells, solely for use in cell therapy for the diagnosis, amelioration, prevention and treatment of eye disorders.
As consideration for the Licensed IP, Cell Cure will pay a small one-time lump sum payment, a royalty in the mid single digits of net sales from sales of Licensed IP by any invoicing entity, and a royalty of between 15 and 25 percent of sublicensing receipts. In addition, Cell Cure will pay Hadasit an annual minimal non-refundable royalty, which will become due and payable the first January 1 following the completion of services to Cell Cure by a research laboratory.
Cell Cure agreed to pay Hadasit non-refundable milestone payments upon the recruitment of the first patient for the first Phase IIB clinical trial, upon the enrollment of the first patient in the first Phase III clinical trials, upon delivery of the report for the first Phase III clinical trials, upon the receipt of an NDA or marketing approval in the European Union, whichever is the first to occur, and upon the first commercial sale in the United States or European Union, whichever is the first to occur. Such milestones, in the aggregate, may be up to $3.5 million. As of December 31, 2017, Cell Cure had not accrued any milestone payments under the License Agreement.
The License Agreement terminates upon the expiration of Cell Cure’s obligation to pay royalties for all licensed products, unless earlier terminated. In addition, the License Agreement may be terminated by (i) Hadasit if, among other reasons, Cell Cure fails to continue the clinical development of the Licensed IP or fails to take actions to commercialize or sell the Licensed IP over any consecutive 12 month period, and (ii) by either party for (a) a material breach which remains uncured following a cure period, or (b) the granting of a winding-up order in respect of the other party, or upon an order being granted against the other party for the appointment of a receiver or a liquidator in respect of a substantial portion of such other party’s assets. The License Agreement also contains mutual confidentiality obligations of Cell Cure and Hadasit, and indemnification obligations of Cell Cure.
Royalty obligations and license fees
BioTime and its subsidiaries or affiliates are parties to certain licensing agreements with research institutions, universities and other parties for the rights to use those licenses and other intellectual property in conducting research and development activities. These licensing agreements provide for the payment of royalties by BioTime or the applicable party to the agreement on future product sales, if any. In addition, in order to maintain these licenses and other rights during the product development, BioTime or the applicable party to the contract must comply with various conditions including the payment of patent related costs and annual minimum maintenance fees. Annual minimum maintenance fees are approximately $135,000 to $150,000 per year. The research and development risk for these products is significant. License fees and related expenses under these agreements were $221,000, $180,000 and $282,000 for the years ended December 31, 2017, 2016 and 2015, respectively.
Grants
BioTime accounts for grants received to perform research and development services in accordance with ASC 730-20, Research and Development Arrangements, which requires an assessment at the inception of the grant whether the grant is a liability or a contract to perform research and development services for others. If the company receiving the grant is obligated to repay the grant funds to the grantor regardless of the outcome of the research and development activities, then the company is required to estimate and recognize that liability. Alternatively, if the company receiving the grant is required to repay the grant funds only if the research and development activities are successful, then the grant agreement is accounted for as a contract to perform research and development services for others. In this case, the grant payments are recognized as income when the related research and development expense is incurred.
Under the terms of the grant agreement between Cell Cure and Israel Innovation Authority (“IIA”) (formerly the Office of the Chief Scientist of Israel) of the Ministry of Economy and Industry, for the development of OpRegen®, Cell Cure will be required to pay royalties on future product sales, if any, up to the amounts received from the IIA, plus interest indexed to LIBOR. Cell Cure’s research and product development activities under the grant are subject to substantial risks and uncertainties, and performed on a best efforts basis. As a result, Cell Cure is not required to make any payments under the grant agreement unless it successfully commercializes OpRegen®. Accordingly, pursuant to ASC 730-20, the Cell Cure grant is considered a contract to perform research and development services for others and grant revenue is recognized as the related research and development expenses are incurred.
Israeli law pertaining to such government grants contain various conditions, including substantial penalties and restrictions on the transfer of intellectual property, or the manufacture, or both, of products developed under the grant outside of Israel, as defined by the IIA. |
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes |
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| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes |
13. Income Taxes
U.S. Federal Income Tax Reform
On December 22, 2017, in response to the enactment of the 2017 Tax Act (see Note 2), the SEC staff issued SAB 118 that allows BioTime to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. BioTime is currently analyzing the 2017 Tax Act, and in certain areas, has made reasonable estimates of the effects on its consolidated financial statements and tax disclosures, including the amount of the repatriation tax and changes to BioTime’s existing deferred tax balances, for the year ended December 31, 2017. The repatriation tax is based primarily on LifeMap Sciences Ltd, an Israeli subsidiary of LifeMap Sciences, accumulated foreign earnings and profits that BioTime previously excluded from U.S. income taxes. As a result, LifeMap Sciences included $227,000 in foreign earnings in federal income for the current year. The federal taxable income was offset by the LifeMap Sciences’ net operating loss carryforwards resulting in no federal income tax due.
In addition, BioTime remeasured certain deferred tax assets and liabilities based on the enacted tax rate at which they are expected to reverse in the future. The estimated tax effected amount related to the remeasurement of these balances was a reduction of BioTime’s net deferred tax assets by $8.9 million with a corresponding decrease in the valuation allowance by the same amount, recognized as of December 31, 2017, as discussed below. BioTime considers the key estimates on the repatriation tax, net deferred tax remeasurement and the impact on unrealized tax benefits, if any, to be incomplete due to its continuing analysis of final year-end data and tax positions. BioTime’s completion of this analysis could affect the measurement of these balances and give rise to new deferred tax assets and liabilities. Since the 2017 Tax Act was passed late in the fourth quarter of 2017, and further guidance and accounting interpretation is expected over the next twelve months, BioTime’s review is not complete and management expects to complete its analysis within the measurement period provided by SAB 118.
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. As of December 31, 2017, the federal portion of the deferred tax assets and liabilities for 2017 were re-rated from 34 percent to 21 percent pursuant to the 2017 Tax Act.
The primary components of the deferred tax assets and liabilities at December 31, 2017 and 2016 were as follows (in thousands):
Income taxes differed from the amounts computed by applying the current U.S. federal income tax rate of 34% to pretax losses from operations as a result of the following:
As of December 31, 2017, BioTime has gross net operating loss carryforwards of approximately $162.6 million for federal purposes. Of this amount, $17.6 million is attributable to LifeMap Sciences, which includes LifeMap Solutions, as LifeMap Sciences files a separate federal income tax return and their respective net operating loss carryforwards may not be used to offset the taxable income of BioTime. As of December 31, 2017, BioTime’s subsidiaries have foreign gross net operating loss carryforwards of approximately $65.2 million which carryforward indefinitely.
As of December 31, 2017, BioTime has net operating losses of $95.0 million for state tax purposes. Historically, both LifeMap Sciences and OncoCyte have been included in the combined California tax return with BioTime. As a result of the OncoCyte Deconsolidation on February 17, 2017, (see Notes 3 and 4), OncoCyte will file a separate California return for tax year 2017. Accordingly, the California net operating loss carryforwards attributable to OncoCyte will not be available to BioTime or LifeMap Sciences. The federal and state net operating losses expire in varying amounts between 2018 and 2036.
As of December 31, 2017, BioTime has research tax credit carryforwards for federal and state tax purposes of $3.3 million and $3.3 million, respectively. The federal tax credits expire between 2018 and 2036, while the state tax credits have no expiration date.
Although the OncoCyte Deconsolidation on February 17, 2017 was not a taxable transaction to BioTime and did not result in a tax payment obligation, the $71.7 million unrealized gain on the OncoCyte Deconsolidation generated a deferred tax liability that was fully offset by BioTime’s net operating losses. Subsequent to the OncoCyte Deconsolidation, an unrealized loss of $2.9 million was recorded on the OncoCyte shares during the year ended December 31, 2017, which was fully offset by a corresponding increase in BioTime’s valuation allowance.
Similarly, the Asterias Deconsolidation on May 13, 2016 was not a taxable transaction to BioTime and did not result in a tax payment obligation, the $49.0 million gain on the Asterias Deconsolidation generated a deferred tax liability that was fully offset by BioTime’s net operating losses. Subsequent to the Asterias Deconsolidation, an unrealized gain of $34.3 million was recorded on the Asterias shares during the year ended December 31, 2016, which was fully offset by available net operating losses and the corresponding release of BioTime’s valuation allowance on deferred tax assets. An unrealized loss of $51.1 million was recorded on the Asterias shares during the year ended December 31, 2017 which was fully offset by a corresponding increase in BioTime’s valuation allowance.
In connection with the deconsolidation of OncoCyte and Asterias (see Note 3), the market value of the respective shares BioTime holds creates a deferred tax liability to BioTime based on the closing price of the security, less the tax basis of the security BioTime has in such shares. The deferred tax liability generated by OncoCyte and Asterias shares that BioTime holds as of December 31, 2017, is a source of future taxable income to BioTime, as prescribed by ASC 740-10-30-17, that will more likely than not result in the realization of its deferred tax assets to the extent of those deferred tax liabilities. This deferred tax liability is determined based on the closing price of those securities as of December 31, 2017.
On June 6, 2017, BioTime and LifeMap Sciences entered into a Debt Conversion Agreement whereby BioTime acquired additional stock in LifeMap Sciences (see Note 10) and other assets, including intellectual property in exchange for intercompany indebtedness of approximately $8.7 million owed to BioTime. This transaction had no financial reporting impact, except for transactions between noncontrolling interests of LifeMap Sciences discussed in Note 10. BioTime and LifeMap Sciences recorded the tax effect of the transactions in equity instead of the tax provision in accordance with ASC 740-20-45-11(g), which requires that the tax effects of all changes in tax bases of assets and liabilities caused by transactions among or with shareholders be included in equity. In connection with the June 2017 transactions, LifeMap Sciences utilized approximately $3.3 million in net operating loss carryforwards with a corresponding release of the valuation allowance recorded through equity in accordance with ASC 740-20-45-11(g).
For income tax purposes, the purchase by BioTime of LifeMap Sciences’ intellectual property and other assets resulted in a taxable gain to LifeMap Sciences of $3.7 million for the year ended December 31, 2017. Although LifeMap Sciences had sufficient current year operating losses and regular net operating loss carryforwards to offset the entire gain, it incurred a federal alternative minimum tax payable of $22,000 as of December 31, 2017. As previously noted under the 2017 Tax Act, corporations are no longer subject to the AMT, effective for taxable years beginning after December 31, 2017. To the extent a company has an AMT credit from a prior year, the company can carry the credit forward to offset regular tax. To the extent the company does not have a federal tax liability, a portion of the AMT credit is refundable each year starting in 2018, with any remaining balance fully refundable in 2021. As LifeMap Sciences will ultimately receive a full refund of the current AMT payable, fully offsetting the current provision, there is no tax provision or benefit recorded for the year ended December 31, 2017.
A valuation allowance is provided when it is more likely than not that all or some portion of the deferred tax assets will not be realized. BioTime established a full valuation allowance for all periods presented due to the uncertainty of realizing future tax benefits from its net operating loss carryforwards and other deferred tax assets, including foreign net operating losses generated by its subsidiaries.
No tax provision or benefit was recorded for income taxes for the year ended December 31, 2016. A deferred income tax benefit of $4.5 million was recorded for the year ended December 31, 2015, of which $4.8 million was related to the federal benefit and $290,000 was related to state tax expense.
Other Income Tax Matters
Internal Revenue Code Section 382 places a limitation (“Section 382 Limitation”) on the amount of taxable income that can be offset by net operating loss (“NOL”) carryforwards after a change in control (generally greater than 50% change in ownership within a three-year period) of a loss corporation. California has similar rules. Generally, after a change in control, a loss corporation cannot deduct NOL carryforwards in excess of the Section 382 Limitation. Due to these “change in ownership” provisions, utilization of the NOL and tax credit carryforwards may be subject to an annual limitation regarding their utilization against taxable income in future periods. As of December 31, 2017, no such change in control pursuant to Section 382 had occurred.
BioTime files a U.S. federal income tax return as well as various state and foreign income tax returns. In general, BioTime is no longer subject to tax examination by major taxing authorities for years before 2013. Although the statute is closed for purposes of assessing additional income and tax in these years, the taxing authorities may still make adjustments to the net operating loss and credit carryforwards used in open years. Therefore, the statute should be considered open as it relates to the net operating loss and credit carryforwards used in open years.
BioTime may be subject to potential examination by U.S. federal, U.S. states or foreign jurisdiction authorities in the areas of income taxes. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with U.S. federal, U.S. state and foreign tax laws. BioTime’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.
BioTime’s practice is to recognize interest and penalties related to income tax matters in tax expense. As of December 31, 2017 and 2016, BioTime has no accrued interest and penalties. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information |
12 Months Ended |
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Dec. 31, 2017 | |
| Segment Reporting [Abstract] | |
| Segment Information |
14. Segment Information
BioTime’s executive management team, as a group, represents the entity’s chief operating decision makers. BioTime’s executive management team views BioTime’s operations as one segment that includes, the research and development of therapeutic products for retinal, orthopedics, oncology, and neurological diseases and disorders, blood and vascular system diseases and disorders, blood plasma volume expansion, diagnostic products for the early detection of cancer, and hydrogel products that may be used in surgery, and products for pluripotent cell technologies. As a result, the financial information disclosed materially represents all of the financial information related to BioTime’s sole operating segment. |
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- References No definition available.
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Enterprise-Wide Disclosures |
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| Enterprise-wide Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Enterprise-Wide Disclosures |
15. Enterprise-Wide Disclosures
Geographic Area Information
Total revenues, including license fees, royalties, grant income, and other revenues by geographic area are based on the country of domicile of the customer, licensee or grantor (in thousands):
The composition of BioTime’s long-lived assets, consisting of property, plant and equipment, net, between those in the United States and in foreign countries, as of December 31, 2017 and 2016, is set forth below (in thousands):
Assets in foreign countries principally include laboratory equipment and leasehold improvements in Israel.
Major Sources of Revenues
The following table shows our major sources of revenues, as a percentage of total revenues, that were recognized during the years ended December 31, 2017, 2016, and 2015:
During 2017, BioTime received $1.4 million and recognized $1.2 million (net of $168,000 in royalty and commission fees included in cost of sales) in net subscription and advertisement revenues from LifeMap Sciences’ online database business primarily related to its GeneCards® database. During 2016, BioTime received $972,000 and recognized $668,000 (net of $304,000 in royalty and commission fees in cost of sales) in net subscription and advertisement revenues from LifeMap Sciences’ online database business. |
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- References No definition available.
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- Definition The entire disclosure for sources of revenue by geographic region and major customers. No definition available.
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Selected Quarterly Financial Information (Unaudited) |
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| Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Selected Quarterly Financial Information (Unaudited) |
16. Selected Quarterly Financial Information (UNAUDITED, in thousands, except per share data)
BioTime has derived this data from the unaudited consolidated interim financial statements that, in BioTime’ s opinion, have been prepared on substantially the same basis as the audited consolidated financial statements contained herein and include all normal recurring adjustments necessary for a fair presentation of the financial information for the periods presented. These unaudited consolidated quarterly results should be read in conjunction with the consolidated financial statements and notes thereto included herein. The consolidated operating results in any quarter are not necessarily indicative of the consolidated results that may be expected for any future period.
Quarterly and year-to-date computations of net income (loss) per share amounts are calculated using the respective period weighted average shares outstanding. Therefore, the sum of the per share amounts for the quarters may not agree with the per share amounts for the year. |
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- References No definition available.
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events |
12 Months Ended |
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Dec. 31, 2017 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
17. Subsequent Events
On January 28, 2018, Cell Cure entered into another lease agreement with its current landlord for an additional 934 square meters (approximately 10,054 square feet) of office space in the same facility in Jerusalem, Israel under a lease that expires on December 31, 2025, with two additional options to extend the lease for 5 years each (“the January 2018 Lease”). The January 2018 Lease will commence on April 1, 2018, and includes a leasehold improvement construction allowance of up to NIS 4,000,000 (approximately up to $1.2 million) from the landlord. The leasehold improvements are expected to be completed by September 30, 2018. Combined base rent and construction allowance payments, assuming the full allowance is utilized, for the January 2018 Lease will be NIS 93,470 per month (approximately $27,000 per month) beginning on October 1, 2018.
On February 28, 2018, AgeX sold warrants to purchase 1,473,600 shares of common stock (the “AgeX Warrants”) for $0.50 cents per warrant for aggregate net cash proceeds to AgeX of $736,800. The AgeX Warrants are exercisable at $2.50 per share and expire the earliest to occur of (i) February 28, 2021, (ii) on or after January 31, 2019, after notice from AgeX, if the AgeX shares are publicly traded, the price of AgeX common stock exceeds $3.75 per share for 20 trading days (on a volume weighted average price basis, as defined), and (iii) a change of control, as defined in warrant agreement. If the AgeX shares are not publicly traded, the AgeX Warrants may be exercised only during the period commencing ten business days prior to the expiration date, as defined in the warrant agreement. |
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- References No definition available.
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Policies) |
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| Going Concern Assessment |
Going concern assessment – BioTime assesses going concern uncertainty for its consolidated financial statements to determine if BioTime has sufficient cash and cash equivalents on hand and working capital to operate for a period of at least one year from the date the consolidated financial statements are issued or are available to be issued, which is referred to as the “look-forward period” as defined by FASB’s ASU No. 2014-15. As part of this assessment, based on conditions that are known and reasonably knowable to BioTime, BioTime will consider various scenarios, forecasts, projections, and estimates, and BioTime will make certain key assumptions, including the timing and nature of projected cash expenditures or programs, and its ability to delay or curtail those expenditures or programs, if necessary, among other factors. Based on this assessment, as necessary or applicable, BioTime makes certain assumptions concerning its ability to curtail or delay research and development programs and expenditures within the look-forward period in accordance with ASU No. 2014-15. |
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| Revenue Recognition |
Revenue recognition – BioTime complies with Accounting Standards Codification, ASC 605-10 and recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. BioTime accounts for grants received to perform research and development services in accordance with ASC 730-20, Research and Development Arrangements, which requires an assessment at the inception of the grant whether the grant is a liability or a contract to perform research and development services for others. If the company receiving the grant is obligated to repay the grant funds to the grantor regardless of the outcome of the research and development activities, then the company is required to estimate and recognize that liability. Alternatively, if the company receiving the grant is not required to repay, or if it is required to repay the grant funds only if the research and development activities are successful, then the grant agreement is accounted for as a contract to perform research and development services for others. In this case, grant income is recognized when the related research and development expenses are incurred. Revenues from the sale of research products and services are primarily derived from the sale of hydrogels and stem cell products and are recognized when earned. Royalty revenues consist of product royalty payments. Royalties earned on product sales are recognized as revenue in the quarter in which the royalty reports are received rather than the quarter in which the sales took place. License fee revenues consist of fees under license agreements and are recognized when earned and reasonably estimable and, also include subscription and advertising revenue from LifeMap Sciences’ online databases based upon applicable subscription or advertising periods. When BioTime or a subsidiary is entitled to receive up-front nonrefundable licensing or similar fees pursuant to agreements under which BioTime or its subsidiary has no continuing performance obligations, the fees are recognized as revenues when collection is reasonably assured. When BioTime or a subsidiary receives up-front nonrefundable licensing or similar fees pursuant to agreements under which BioTime or its subsidiary does have continuing performance obligations, the fees are deferred and amortized ratably over the performance period. If the performance period cannot be reasonably estimated, BioTime amortizes nonrefundable fees over the life of the contract until such time that the performance period can be more reasonably estimated. Milestone payments, if any, related to scientific or technical achievements, subject to substantial uncertainty, are recognized in income when the milestone is accomplished if (a) substantive effort was required to achieve the milestone, (b) the amount of the milestone payment appears reasonably commensurate with the effort expended, and (c) collection of the payment is reasonably assured. |
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| Cost of Sales |
Cost of sales – BioTime accounts for the cost of research products acquired for sale and any royalties paid as a result of any revenues in accordance with the terms of the applicable licensing agreements as cost of sales on the consolidated statements of operations. |
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| Cash and Cash Equivalents |
Cash and cash equivalents – BioTime considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2017 and 2016, BioTime had $32.1 million and $16.8 million in money market funds, respectively, considered to be cash equivalents. |
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| Restricted Cash |
Restricted cash – BioTime has a certificate of deposit in the amount of $847,000 included in deposits and other long-term assets as of December 31, 2017, as required under the Alameda Lease discussed in Note 12, as BioTime is restricted from using the cash for working capital purposes. On February 13, 2018, the landlord reduced the security deposit to $424,000 pursuant to the lease agreement. |
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| Trade Accounts and Grants Receivable, Net |
Trade accounts and grants receivable, net – Net trade receivables amounted to $139,000 and $344,000 and grants receivable amounted to $641,000 and $102,000 as of December 31, 2017 and 2016, respectively. Net trade receivables include allowance for doubtful accounts of approximately $422,000 and $543,000 as of December 31, 2017 and 2016, respectively, for those amounts deemed uncollectible by BioTime. BioTime establishes an allowance for doubtful accounts based on the evaluation of the collectability of its receivables on a variety of factors, including the length of time receivables are past due, significant events that may impair the customer’s ability to pay, such as a bankruptcy filing or deterioration in the customer’s operating results or financial position, and historical experience. If circumstances related to customers change, estimates of the recoverability of receivables would be further adjusted. |
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| Concentrations of Credit Risk |
Concentrations of credit risk – Financial instruments that potentially subject BioTime to significant concentrations of credit risk consist primarily of cash and cash equivalents. BioTime limits the amount of credit exposure of cash balances by maintaining its accounts in high credit quality financial institutions. Cash equivalent deposits with financial institutions may occasionally exceed the limits of insurance on bank deposits; however, BioTime has not experienced any losses on such accounts. |
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| Fair Value Measurements |
Fair Value Measurements – Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value (ASC 820-10-50), Fair Value Measurements and Disclosures:
In determining fair value, BioTime utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and also considers counterparty credit risk in its assessment of fair value. For the periods presented, BioTime has no financial assets or liabilities recorded at fair value on a recurring basis, except for cash and cash equivalents consisting of money market funds, shares BioTime holds in Asterias and OncoCyte and the available-for-sale securities, which are carried at fair value based on the applicable period-end quoted market prices as a Level 1 input. BioTime also has certain liability classified warrants issued by Cell Cure which are carried at fair value based on Level 3 inputs (see Note 10).
The fair value of BioTime’s assets and liabilities, which qualify as financial instruments under FASB guidance regarding disclosures about fair value of financial instruments, approximate the carrying amounts presented in the accompanying consolidated balance sheets. The carrying amounts of accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities approximate fair values because of the short-term nature of these items. |
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| Equity Method Accounting for Asterias and Oncocyte, at Fair Value |
Equity method accounting for Asterias and OncoCyte, at fair value – BioTime uses the equity method of accounting when it has the ability to exercise significant influence, but not control, as determined in accordance with GAAP, over the operating and financial policies of a company. For equity method investments which BioTime has elected to measure at fair value, unrealized gains and losses are reported in the consolidated statements of operations in other income and expenses, net.
As further discussed in Notes 4 and 5, BioTime has elected to account for its Asterias and OncoCyte shares at fair value using the equity method of accounting because beginning on May 13, 2016 and February 17, 2017, the respective dates on which BioTime deconsolidated Asterias and OncoCyte, BioTime has not had control of Asterias and OncoCyte, as defined by GAAP since the applicable deconsolidation dates, but BioTime continues to exercise significant influence over Asterias and OncoCyte. Under the fair value method, the value of the shares of common stock BioTime holds in Asterias and OncoCyte is marked to market at each balance sheet date using the closing prices of Asterias and OncoCyte common stock on the NYSE American multiplied by the number of shares of Asterias and OncoCyte held by BioTime, with changes in the fair value of the Asterias and OncoCyte shares included in other income and expenses, net, in the consolidated statements of operations. The Asterias and OncoCyte shares are considered level 1 assets as defined by ASC 820. |
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| Available-for-sale Securities in Foreign Investments |
Available-for-sale securities in foreign investments – BioTime accounts for the shares it holds in foreign equity securities as available-for-sale in accordance with ASC 320-10-25, Investments – Debt and Equity Securities, as the shares have a readily determinable fair value quoted on the Tel Aviv Stock Exchange (“TASE”) (under trading symbol “HDST”). These securities are held principally as available-for-sale to meet future working capital needs and are denominated in New Israeli Shekels (NIS). The securities are measured at fair value and reported as current assets on the consolidated balance sheets based on the closing trading price of the security as of the date being presented. Unrealized holding gains and losses, including changes in foreign currency exchange rates, are reported in other comprehensive income or loss, net of tax, and are a component of the accumulated other comprehensive income or loss on the consolidated balance sheet. Realized gains and losses, and declines in value judged to be other-than-temporary related to equity securities, are included in other income or expenses, net, in the consolidated statements of operations. |
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| Property, Plant and Equipment, Net |
Property, plant and equipment, net – Property, plant and equipment is stated at cost and is being depreciated using the straight-line method over their estimated useful lives ranging from 3 to 10 years. Leasehold improvements are amortized over the shorter of the useful life or the lease term. |
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| Long-lived Intangible Assets |
Long-lived intangible assets – Long-lived intangible assets, consisting primarily of acquired patents, patent applications, and licenses to use certain patents are stated at acquired cost, less accumulated amortization. Amortization expense is computed using the straight-line method over the estimated useful lives of the assets, generally over 10 years. |
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| Impairment of Long-lived Assets |
Impairment of long-lived assets – Long-lived assets, including long-lived intangible assets, are reviewed annually for impairment and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If an impairment indicator is present, BioTime evaluates recoverability by a comparison of the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. If the assets are impaired, the impairment recognized is measured by the amount by which the carrying amount exceeds the estimated fair value of the assets. |
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| Treasury Stock |
Treasury stock – BioTime accounts for BioTime common shares issued to subsidiaries for future potential working capital needs as treasury stock on the consolidated balance sheet. BioTime has registered the BioTime common shares held by its subsidiaries for sale under the Securities Act of 1933, as amended (the “Securities Act”) to enhance the marketability of the shares. Beginning on May 13, 2016 and February 17, 2017, the respective dates on which BioTime deconsolidated Asterias and OncoCyte, shares issued to those former subsidiaries are not treasury stock to BioTime and are included in BioTime’s total issued and outstanding common stock (see Note 10). |
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| Accounting for Warrants |
Accounting for warrants – BioTime determines the accounting classification of warrants that it or its subsidiaries issue, as either liability or equity, by first assessing whether the warrants meet liability classification in accordance with ASC 480-10, Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, and then in accordance with ASC 815-40, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock. Under ASC 480, warrants are considered liability classified if the warrants are mandatorily redeemable, obligate the issuer to settle the warrants or the underlying shares by paying cash or other assets, or warrants that must or may require settlement by issuing variable number of shares. If warrants do not meet liability classification under ASC 480-10, BioTime assesses the requirements under ASC 815-40, which states that contracts that require or may require the issuer to settle the contract for cash are liabilities recorded at fair value, irrespective of the likelihood of the transaction occurring that triggers the net cash settlement feature. If the warrants do not require liability classification under ASC 815-40, in order to conclude equity classification, BioTime assesses whether the warrants are indexed to its common stock or its subsidiary’s common stock, as applicable, and whether the warrants are classified as equity under ASC 815-40 or other applicable GAAP. After all relevant assessments are made, BioTime concludes whether the warrants are classified as liability or equity. Liability classified warrants are required to be accounted for at fair value both on the date of issuance and on subsequent accounting period ending dates, with all changes in fair value after the issuance date recorded in the consolidated statements of operations as a gain or loss. Equity classified warrants are accounted for at fair value on the issuance date with no changes in fair value recognized subsequent to the issuance date. In 2017, Cell Cure issued certain liability classified warrants (see Note 9). |
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| Investments in Common Stock of Privately Held Companies |
Investments in Common Stock of Privately Held Companies – BioTime evaluates whether investments held in common stock of an investee require consolidation of the entity under, first, the variable interest entity (“VIE”) model, and then under the Voting Interest model in accordance with accounting guidance for consolidations under Accounting Standards Codification (“ASC”) 810-10. If consolidation of the entity is not required under either the VIE model or the Voting Interest model, BioTime determines whether the equity method of accounting should be applied in accordance with ASC 323, Investments – Equity Method and Joint Ventures. The equity method applies to investments in common stock or in-substance common stock if BioTime exercises significant influence over, but does not control, the entity, typically represented by ownership of 20% or more of the voting interests of an entity.
BioTime initially records equity method investments at fair value on the date of the acquisition with subsequent adjustments to the investment balance based on BioTime’s share of earnings or losses from the investment included in other income or expenses, net, on the consolidated statements of operations. The equity method investment balance is shown in noncurrent assets on the consolidated balance sheets.
BioTime reviews investments accounted for under the equity method for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be fully recoverable. If a determination is made that an “other-than-temporary” impairment exists, BioTime writes down its investment to fair value. Based on an evaluation and continuing losses and negative cash flows generated from the Ascendance investment, including uncertainty as to Ascendance’s ability to raise sufficient financing, BioTime determined that an other-than-temporary impairment existed on its equity method investment in Ascendance as of December 31, 2016, and BioTime wrote down the entire remaining $3.5 million carrying value of that investment included in other income and expenses, net. |
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| Transactions with Noncontrolling Interests of Subsidiaries |
Transactions with Noncontrolling Interests of Subsidiaries – BioTime accounts for a change in ownership interests in its subsidiaries that does not result in a change of control of the subsidiary by BioTime under the provisions of ASC 810-10-45-23, Consolidation – Other Presentation Matters, which prescribes the accounting for changes in ownership interest that do not result in a change in control of the subsidiary, as defined by GAAP, before and after the transaction. Under this guidance, changes in a controlling shareholder’s ownership interest that do not result in a change of control, as defined by GAAP, in the subsidiary are accounted for as equity transactions. Thus, if the controlling shareholder retains control, no gain or loss is recognized in the statements of operations of the controlling shareholder. Similarly, the controlling shareholder will not record any additional acquisition adjustments to reflect its subsequent purchases of additional shares in the subsidiary if there is no change of control. Only a proportional and immediate transfer of carrying value between the controlling and the noncontrolling shareholders occurs based on the respective ownership percentages. |
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| Research and Development |
Research and development – Research and development expenses consist of costs incurred for company-sponsored, collaborative and contracted research and development activities. These costs include direct and research-related overhead expenses including compensation and related benefits, stock-based compensation, consulting fees, research and laboratory fees, rent of research facilities, amortization of intangible assets, and license fees paid to third parties to acquire patents or licenses to use patents and other technology. Research and development are expensed as incurred. Research and development expenses incurred and reimbursed by grants from third parties approximate the grant income recognized in the consolidated statements of operations. |
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| General and Administrative |
General and administrative – General and administrative expenses consist of compensation and related benefits, including stock-based compensation, for executive and corporate personnel; professional and consulting fees; and allocated overhead such as facilities and equipment rent and maintenance, insurance costs allocated to general and administrative expenses, costs of patent applications, prosecution and maintenance, stock exchange-related costs, depreciation expense, marketing costs, and other miscellaneous expenses which are allocated to general and administrative expense. |
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| Foreign Currency Translation and Other Comprehensive Loss, Foreign Currency Transaction Gains and Losses |
Foreign currency translation and other comprehensive loss, foreign currency transaction gains and losses – In countries in which BioTime operates where the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date. Revenues and expenses and cash flows are translated using an approximate weighted average exchange rate for the period. Resulting translation adjustments are recorded as a component of accumulated other comprehensive income or loss on the consolidated balance sheet. For the years ended December 31, 2017, 2016 and 2015, comprehensive income (loss) includes foreign currency translation adjustments, net of tax, of $668,000, ($106,000) and ($424,000), respectively.
For transactions denominated in other than the functional currency of BioTime or its subsidiaries, BioTime recognizes transaction gains and losses in the consolidated statements of operations and classifies the gain or loss based on the nature of the item that generated it. The majority of BioTime’s foreign currency transaction gains and losses are generated by Cell Cure’s intercompany debt due to BioTime (see Note 9), which are U.S. dollar-denominated, while Cell Cure’s functional currency is NIS. Accordingly, foreign currency remeasurement gains and losses related to this debt are included in other income and expenses, net. |
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| Income Taxes |
Income taxes – BioTime accounts for income taxes in accordance with ASC 740, Income Taxes, which prescribe the use of the asset and liability method, whereby deferred tax asset or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect. Valuation allowances are established when necessary to reduce deferred tax assets when it is more likely than not that a portion or all of the deferred tax assets will not be realized. ASC 740 guidance also prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For benefits to be recognized, a tax position must be more-likely-than-not sustainable upon examination by taxing authorities. BioTime files a U.S. federal income tax return as well as various state and foreign income tax returns. BioTime’s judgments regarding future taxable income may change over time due to changes in market conditions, changes in tax laws, tax planning strategies or other factors. Certain majority-owned subsidiaries that BioTime consolidates under GAAP file their own, standalone federal income tax returns as those subsidiaries are not considered consolidated under federal income tax regulations, and accordingly, BioTime and those subsidiaries may not use each other’s tax attributes. If BioTime assumptions, and consequently the estimates, change in the future with respect to BioTime’s own deferred tax assets and liabilities, the valuation allowance may be increased or decreased, which may have a material impact on BioTime’s consolidated financial statements. BioTime recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense, however, no amounts were accrued for the payment of interest and penalties as of December 31, 2017 and 2016.
On December 22, 2017, the United States enacted major federal tax reform legislation, Public Law No. 115-97, commonly referred to as the 2017 Tax Cuts and Jobs Act (“2017 Tax Act”), which enacted a broad range of changes to the Internal Revenue Code. Changes to taxes on corporations impacted by the 2017 Tax Act include, among others, lowering the U.S. federal tax rates to a 21 percent flat tax rate, eliminating the corporate alternative minimum tax (“AMT”), imposing additional limitations on the deductibility of interest and net operating losses, allowing any net operating loss (“NOLs”) generated in tax years ending after December 31, 2017 to be carried forward indefinitely and generally repealing carrybacks, reducing the maximum deduction for NOL carryforwards arising in tax years beginning after 2017 to a percentage of the taxpayer’s taxable income, and allowing for the expensing of certain capital expenditures. The 2017 Tax Act also puts into effect a number of changes impacting operations outside of the United States including, but not limited to, the imposition of a one-time tax “deemed repatriation” on accumulated offshore earnings not previously subject to U.S. tax, and shifts the U.S taxation of multinational corporations from a worldwide system of taxation to a territorial system. ASC 740 requires the effects of changes in tax rates and laws on deferred tax balances (including the effects of the one-time transition tax) to be recognized in the period in which the legislation is enacted (see Note 13).
On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to provide guidance for companies that are not able to complete their accounting for the income tax effects of the 2017 Tax Act in the period of enactment. SAB 118 allows BioTime to record provisional amounts during a measurement period not to extend beyond one year of the enactment date (see Note 13). |
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| Stock-based Compensation |
Stock-based compensation – BioTime follows accounting standards governing share-based payments, which require the measurement and recognition of compensation expense for all share-based payment awards made to directors and employees, including employee stock options, based on estimated fair values. Upon adoption of ASU 2016-09 on January 1, 2017, forfeitures are accounted for as they occur instead of based on the number of awards that were expected to vest prior to adoption of ASU 2016-09. Based on the nature and timing of grants, straight line expense attribution of stock-based compensation for the entire award and the relatively low forfeiture rates on BioTime’s experience, the impact of adoption of ASU 2016-09 pertaining to forfeitures was not material to the consolidated financial statements. BioTime utilizes the Black-Scholes-Merton option pricing model for valuing share-based payment awards. BioTime’s determination of fair value of share-based payment awards on the date of grant using that option-pricing model is affected by BioTime’s stock price as well as by assumptions regarding a number of complex and subjective variables. These variables include, but are not limited to, BioTime’s expected stock price volatility over the term of the awards; the expected term of options granted, derived from historical data on employee exercises and post-vesting employment termination behavior; and a risk-free interest rate based on the U.S. Treasury rates in effect during the corresponding period of grant.
Certain of BioTime’s privately-held consolidated subsidiaries have their own share-based compensation plans. For share-based compensation awards granted by those privately-held consolidated subsidiaries under their respective equity plans, BioTime determines the expected stock price volatility using historical prices of comparable public company common stock for a period equal to the expected term of the options. The expected term of privately-held subsidiary options is based upon the “simplified method” provided under Staff Accounting Bulletin, Topic 14, or SAB Topic 14. The fair value of the shares of common stock underlying the stock options of the privately-held consolidated subsidiaries is determined by the Board of Directors of those subsidiaries, as applicable, which is also used to determine the exercise prices of the stock options at the time of grant.
Although the fair value of employee stock options is determined in accordance with FASB guidance, changes in the assumptions can materially affect the estimated value and therefore the amount of compensation expense recognized in the consolidated financial statements. |
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| Basic and Diluted Net Income (Loss) Per Share Attributable to Common Shareholders |
Basic and diluted net income (loss) per share attributable to common shareholders – Basic earnings per share is calculated by dividing net income or loss attributable to BioTime common shareholders by the weighted average number of common shares outstanding, net of unvested restricted stock or restricted stock units, subject to repurchase by BioTime, if any, during the period. Diluted earnings per share is calculated by dividing the net income or loss attributable to BioTime common shareholders by the weighted average number of common shares outstanding, adjusted for the effects of potentially dilutive common shares issuable under outstanding stock options and warrants, using the treasury-stock method, convertible preferred stock, if any, using the if-converted method, and treasury stock held by subsidiaries, if any.
For the year ended December 31, 2016, the primary components of weighted average shares of potentially dilutive common shares used to compute diluted net income per common share were approximately 2,030,000 BioTime common shares held by Asterias and OncoCyte (see Note 10), and approximately 206,000 restricted stock units and outstanding stock options.
For the years ended December 31, 2017 and 2015, because BioTime reported a net loss attributable to common stockholders, all potentially dilutive common stock is antidilutive.
The following common share equivalents were excluded from the computation of diluted net income (loss) per common share for the periods presented because including them would have been antidilutive (in thousands):
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| Adoption of ASU 2016-09, Improvements to Employee Share-Based Payment Accounting |
Adoption of ASU 2016-09, Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification on the statement of cash flows. BioTime adopted ASU 2016-09 beginning on January 1, 2017.
In connection with the adoption of ASU 2016-09, BioTime changed its accounting policies, including how it accounts for excess tax benefits and deficiencies, if any, and forfeitures, as applicable. All excess tax benefits and tax deficiencies from stock based compensation awards accounted for under ASC 718 are recognized as an income tax benefit or expense, respectively, in the consolidated statements of operations. Prior to the adoption of ASU 2016-09, BioTime recognized excess tax benefits, if any, in additional paid-in capital only if the tax deduction reduced cash income taxes payable and, excess tax deficiencies were recognized as an offset to accumulated excess tax benefits, if any, on BioTime’s consolidated statements of operations. An excess income tax benefit arises when the tax deduction of a share-based award for income tax purposes exceeds the compensation cost recognized for financial reporting purposes and, a tax deficiency arises when the compensation cost exceeds the tax deduction. Because BioTime had an insignificant number of stock option exercises during the year ended December 31, 2017, and because of BioTime’s full valuation allowance as of December 31, 2017 and 2016, the impact to BioTime’s consolidated statements of operations for any excess tax benefits or deficiencies was immaterial (see Note 13).
Forfeitures are now accounted for as they occur instead of based on the number of awards that were expected to vest. Based on (i) the nature and timing of BioTime’s grants, straight line expense attribution of stock based compensation for the entire award, and (ii) the relatively low forfeiture rates on BioTime’s experience, the impact of adoption of ASU 2016-09 pertaining to forfeitures was not material to BioTime’s consolidated financial statements. |
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| Recently Issued Accounting Pronouncements |
Recently Issued Accounting Pronouncements – The following accounting standards, which are not yet effective, are presently being evaluated by BioTime to determine the impact that they might have on its consolidated financial statements.
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgments and estimates may be required in the revenue recognition process than are required under existing GAAP. The revised revenue standard is effective for public entities for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients; or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures).
The evaluation of the impact of adoption of ASU 2014-09 (Topic 606) on existing contracts with customers is still in process; however, BioTime does not expect the adoption of the new guidance will have a material impact to its consolidated financial statements. In performing this evaluation, BioTime has identified certain changes to business processes and internal controls relating to contracts and disclosures that are needed upon the adoption of the new guidance. BioTime will adopt this new standard on January 1, 2018, and plans on using the modified retrospective transition method, which requires the application of the new standard only to those contracts that were not completed as of the adoption date. Upon adoption of ASU 2014-09 and, if necessary, BioTime will recognize the cumulative effect of adopting this guidance as an adjustment to the opening consolidated accumulated deficit balance as of January 1, 2018. BioTime will continue to monitor industry activities and any additional guidance provided by regulators, standards setters, or the accounting profession and adjust its assessment and implementation plans accordingly.
In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, which requires lessees to recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. The update is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within that reporting period. Early adoption is permitted. BioTime is currently evaluating the impact the adoption of ASU 2016-02 will have on its consolidated financial statements.
On January 5, 2016, the FASB issued Accounting Standards Update 2016-01, “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). Changes to the GAAP model primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU 2016-01 clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The accounting for other financial instruments, such as loans, investments in debt securities, and financial liabilities is largely unchanged. The more significant amendments are to equity investments in unconsolidated entities. In accordance with ASU 2016-01, all equity investments in unconsolidated entities (other than those accounted for using the equity method of accounting) will generally be measured at fair value through earnings. There will no longer be an available-for-sale classification (changes in fair value reported in other comprehensive income) for equity securities with readily determinable fair values. The classification and measurement guidance will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Based on the current accounting for the HBL shares BioTime holds as available-for-sale foreign equity securities, BioTime does not expect the adoption of ASU 2016-01 will have a material impact to its consolidated financial statements. |
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- Definition Disclosure of accounting policy for going concern. No definition available.
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- Definition Disclosure of accounting policy pertaining to investments in common stock of privately held companies. No definition available.
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- Definition Disclosure of accounting policy for restricted cash. No definition available.
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- Definition Disclosure of accounting policy for an entity's treasury stock, including common shares issued to subsidiaries for future potential working capital needs. No definition available.
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for subsidiaries or other investments that are consolidated, including the accounting treatment for intercompany accounts or transactions and any noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for recognition of costs in the period which correspond to the sales and revenue categories presented in the statement of operations. The accounting policy may include the amount and nature of costs incurred, provisions associated with inventories, purchase discounts, freight and other costs included in cost of sales incurred and recorded in the period. This disclosure also includes the nature of costs of sales incurred and recorded in the statement of operations for the period relating to transactions with related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for equity method of accounting for investments and other interests. Investment includes, but is not limited to, unconsolidated subsidiary, corporate joint venture, noncontrolling interest in real estate venture, limited partnership, and limited liability company. Information includes, but is not limited to, ownership percentage, reason equity method is or is not considered appropriate, and accounting policy election for distribution received. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. No definition available.
|
| X | ||||||||||
- Definition Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for intangible assets. This accounting policy may address both intangible assets subject to amortization and those that are not. The following also may be disclosed: (1) a description of intangible assets (2) the estimated useful lives of those assets (3) the amortization method used (4) how the entity assesses and measures impairment of such assets (5) how future cash flows are estimated (6) how the fair values of such asset are determined. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for investments in debt and equity securities that are classified as available-for-sale. This policy also may describe the entity's accounting treatment for transfers between investment categories, how the entity determines whether impairments of available-for-sale securities are other than temporary, and how the fair values of such securities are determined. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
|
| X | ||||||||||
- Definition Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for inclusion of significant items in the selling, general and administrative (or similar) expense report caption. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Organization, Basis of Presentation and Liquidity (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Biotime's Ownership of Outstanding Shares of Its Subsidiaries |
The following table reflects BioTime’s ownership, directly or through one or more subsidiaries, of the outstanding shares of its operating subsidiaries as of December 31, 2017.
|
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| X | ||||||||||
- Definition The tabular disclosure of the effects of any changes in a parent's ownership interest in a subsidiary on the equity attributable to the parent if the ownership interests in a subsidiary changes during the period. The changes represented by this element did not result in the deconsolidation of the subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Summary of Significant Accounting Policies (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following common share equivalents were excluded from the computation of diluted net income (loss) per common share for the periods presented because including them would have been antidilutive (in thousands):
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Equity Method Accounting for Common Stock of OncoCyte, at Fair Value (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OncoCyte Corporation [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Condensed Results of Operations and Condensed Balance Sheet Information |
The condensed results of operations and condensed balance sheet information of OncoCyte are summarized below (in thousands):
The following table summarizes OncoCyte results of operations for the full years ended December 31, 2017, 2016 and 2015 (in thousands).
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| X | ||||||||||
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
Equity Method Accounting for Common Stock of Asterias, at Fair Value (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asterias Biotherapeutics [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Condensed Results of Operations and Condensed Balance Sheet Information |
The condensed results of operations and condensed balance sheet information of Asterias are summarized below (in thousands):
The following table summarizes Asterias results of operations for the full years ended December 31, 2017, 2016 and 2015 (in thousands).
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| X | ||||||||||
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Details
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Property, Plant and Equipment, Net (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Property, Plant and Equipment, Net |
At December 31, 2017 and 2016, property, plant and equipment were comprised of the following (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Intangible Assets, Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Intangible Assets |
At December 31, 2017 and 2016, intangible assets, primarily consisting of acquired patents and accumulated amortization were as follows (in thousands):
|
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| Schedule of Intangible Assets Future Amortization Expense |
Amortization of intangible assets for periods subsequent to December 31, 2017 is as follows (in thousands):
|
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Accounts Payable and Accrued Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accounts Payable and Accrued Liabilities |
At December 31, 2017 and 2016, accounts payable and accrued liabilities consist of the following (in thousands):
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. No definition available.
|
Shareholders' Equity (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Activity Related to Warrants |
BioTime has issued equity-classified warrants to purchase its common shares. Activity related to warrants in 2017, 2016, and 2015 is presented in the table below (in thousands, except price per share):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Option Plans (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Stock Based Compensation Expense |
The following table summarizes consolidated stock-based compensation expense, including equity awards by privately-held consolidated subsidiaries, related to stock options and other equity awards for the years ended December 31, 2017, 2016, and 2015, which was allocated as follows (in thousands):
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| Schedule of Weighted Average Assumptions to Calculate Fair Value of Stock Options |
The weighted-average estimated fair value of stock options granted under BioTime’s 2002 Plan and 2012 Plan during the years ended December 31, 2017, 2016 and 2015 was $1.65, $1.69 and $2.13 per share respectively, using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:
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| Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity |
A summary of all equity award activity under BioTime’s 2002 Plan and 2012 Plan for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands except weighted average exercise price):
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| Schedule of Options Outstanding and Exercisable Range of Exercise Prices |
Additional information regarding options outstanding under BioTime’s 2002 Plan and 2012 Plan as of December 31, 2017 is as follows (in thousands except exercise prices and weighted average exercise price):
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- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of employee stock purchase plan activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Future Minimum Operating and Capital Lease Payments |
Future minimum annual lease payments under the various operating leases, including the Alameda Lease and the landlord lease liability, Cell Cure lease noted above, and capital leases, for the years ending after December 31, 2017 are as follows (in thousands):
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating and capital leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. No definition available.
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| X | ||||||||||
- References No definition available.
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Deferred Tax Assets and Liabilities |
The primary components of the deferred tax assets and liabilities at December 31, 2017 and 2016 were as follows (in thousands):
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| Schedule of Income Tax Rate Reconciliation |
Income taxes differed from the amounts computed by applying the current U.S. federal income tax rate of 34% to pretax losses from operations as a result of the following:
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Enterprise-Wide Disclosures (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Enterprise-wide Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Geographic Area Information |
Total revenues, including license fees, royalties, grant income, and other revenues by geographic area are based on the country of domicile of the customer, licensee or grantor (in thousands):
The composition of BioTime’s long-lived assets, consisting of property, plant and equipment, net, between those in the United States and in foreign countries, as of December 31, 2017 and 2016, is set forth below (in thousands):
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| Schedule of Sources of Revenues |
The following table shows our major sources of revenues, as a percentage of total revenues, that were recognized during the years ended December 31, 2017, 2016, and 2015:
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- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Selected Quarterly Financial Information (Unaudited) (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Selected Quarterly Financial Information |
The consolidated operating results in any quarter are not necessarily indicative of the consolidated results that may be expected for any future period.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Organization, Basis of Presentation and Liquidity (Details Narrative) $ in Thousands |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Aug. 17, 2017
USD ($)
|
Feb. 17, 2017 |
May 13, 2016 |
Dec. 31, 2017
USD ($)
Sector
|
Jul. 10, 2017 |
Dec. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
|
| Number of platform technologies | Sector | 2 | |||||||
| Number of subsidiaries | Sector | 2 | |||||||
| Ownership percentage | 20.00% | 99.80% | ||||||
| Accumulated deficit | $ 216,297 | $ 196,321 | ||||||
| Working capital | 35,700 | |||||||
| Shareholders' equity | 164,263 | $ 130,508 | $ 76,447 | $ 62,723 | ||||
| Cash, cash equivalents and available for sale securities | 38,200 | |||||||
| AgeX Therapeutics, Inc [Member] | ||||||||
| Proceeds from sale of common shares of subsidiary | $ 10,000 | |||||||
| Ownership percentage | 85.00% | |||||||
| OncoCyte [Member] | ||||||||
| Description of ownership percentage | BioTime’s ownership of OncoCyte declined below 50% after certain OncoCyte investors acquired OncoCyte common stock by exercising OncoCyte stock purchase warrants | |||||||
| Asterias [Member] | ||||||||
| Description of ownership percentage | BioTime BioTime’s percentage ownership in Asterias declined below 50% as a result of Asterias’ public offering of its common stock to raise capital for its operations | |||||||
| Asterias and OncoCyte [Member] | ||||||||
| Common stock combined value | $ 117,200 |
| X | ||||||||||
- Definition Common stock combined value. No definition available.
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| X | ||||||||||
- Definition Refers to the number of companies owned wholly or in part by the entity and accounted for under the equity method of investment. No definition available.
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| X | ||||||||||
- Definition Refers to number of proprietary platform technologies of the entity's clinical programs. No definition available.
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| X | ||||||||||
- Definition Working capital. No definition available.
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| X | ||||||||||
- Definition Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition A description of the principal activities of an investee accounted for under the equity method. No definition available.
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| X | ||||||||||
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash inflow from a noncontrolling interest. Includes, but is not limited to, purchase of additional shares or other increase in noncontrolling interest ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Organization, Basis of Presentation and Liquidity - Schedule of Biotime's Ownership of Outstanding Shares of Its Subsidiaries (Details) |
Dec. 31, 2017 |
|||||||
|---|---|---|---|---|---|---|---|---|
| Israel | Cell Cure Neurosciences, Ltd. [Member] | ||||||||
| Noncontrolling Interest [Line Items] | ||||||||
| BioTime Ownership | 98.80% | [1] | ||||||
| Singapore | ES Cell International Pte., Ltd. [Member] | ||||||||
| Noncontrolling Interest [Line Items] | ||||||||
| BioTime Ownership | 100.00% | |||||||
| USA | OrthoCyte Corporation [Member] | ||||||||
| Noncontrolling Interest [Line Items] | ||||||||
| BioTime Ownership | 99.80% | |||||||
| USA | AgeX Therapeutics, Inc. [Member] | ||||||||
| Noncontrolling Interest [Line Items] | ||||||||
| BioTime Ownership | 85.40% | |||||||
| USA | ReCyte Therapeutics, Inc. [Member] | ||||||||
| Noncontrolling Interest [Line Items] | ||||||||
| BioTime Ownership | 94.80% | [2] | ||||||
| USA | LifeMap Sciences, Inc. [Member] | ||||||||
| Noncontrolling Interest [Line Items] | ||||||||
| BioTime Ownership | 81.70% | [2],[3] | ||||||
| ||||||||
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 22, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Jul. 10, 2017 |
Feb. 17, 2017 |
|
| Money market funds, cash equivalent | $ 32,100 | $ 16,800 | ||||
| Certificates deposit | 847 | |||||
| Net trade receivable | 139 | 344 | ||||
| Grants receivable | 641 | 102 | ||||
| Allowance for doubtful accounts | $ 422 | 543 | ||||
| Intangible asset, useful life | 10 years | |||||
| Equity method ownership percentage | 20.00% | 99.80% | ||||
| Write down of investment | 3,500 | |||||
| Change in foreign currency translation | $ 668 | $ (106) | $ (424) | |||
| U.S. Federal tax rates | 21.00% | 27.00% | 24.00% | 10.00% | ||
| Weighted average dilutive common shares used to compute diluted net income per common shares | 114,476,000 | 99,553,000 | 79,711,000 | |||
| Restricted Stock Units and Outstanding Stock Options [Member] | ||||||
| Weighted average dilutive common shares used to compute diluted net income per common shares | 206,000 | |||||
| Asterias and OncoCyte [Member] | ||||||
| Weighted average dilutive common shares used to compute diluted net income per common shares | 2,030,000 | |||||
| Minimum [Member] | ||||||
| Estimated useful life | 3 years | |||||
| Maximum [Member] | ||||||
| Estimated useful life | 10 years | |||||
| Equity method ownership percentage | 50.00% | |||||
| February 13, 2018 [Member] | Lease Agreement [Member] | ||||||
| Certificates deposit | $ 424 | |||||
| X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of amounts due under the terms of governmental, corporate, or foundation grants. For classified balance sheets, represents the current amount receivable, that is amounts expected to be collected within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount by which the fair value of an investment is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Investment in short-term money-market instruments (such as commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and so forth) which are highly liquid (that is, readily convertible to known amounts of cash) and so near their maturity that they present an insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify as cash equivalents by definition. Original maturity means an original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. No definition available.
|
| X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
| X | ||||||||||
- Definition The amount of an asset, typically cash, provided to a counterparty to provide certain assurance of performance by the entity pursuant to the terms of a written or oral agreement, such as a lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Stock Options [Member] | |||
| Antidilutive securities excluded from computation of earnings per share, amount | 7,983,000 | 6,852,000 | 5,194,000 |
| Warrants [Member] | |||
| Antidilutive securities excluded from computation of earnings per share, amount | 9,395,000 | 9,395,000 | 10,109,000 |
| Treasury Shares [Member] | |||
| Antidilutive securities excluded from computation of earnings per share, amount | 81,000 | 4,472,000 | |
| X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Deconsolidation of OncoCyte and Asterias (Details Narrative) - USD ($) $ in Thousands |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Feb. 17, 2017 |
May 13, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Jul. 10, 2017 |
|
| Issuance of common stock to certain investors upon exercise of warrants | 625,000 | |||||
| Equity method ownership percentage | 20.00% | 99.80% | ||||
| Common shares, outstanding | 126,866,000 | 102,776,000 | ||||
| Asterias Biotherapeutics [Member] | ||||||
| Number of shares sold | 5,147,059 | |||||
| Warrants issued to purchase common stock | 2,959,559 | |||||
| Number of units available through offerings | 708,333 | |||||
| OncoCyte Corporation [Member] | ||||||
| Gain on deconsolidation | $ 71,697 | |||||
| Common shares, outstanding | 14,700 | |||||
| Percentage of ownership interest outstanding after offering | 46.70% | |||||
| Asterias Biotherapeutics [Member] | ||||||
| Gain on deconsolidation | $ 49,048 | |||||
| Common shares, outstanding | 21,700,000 | |||||
| Percentage of ownership interest outstanding after offering | 40.20% | |||||
| Maximum [Member] | ||||||
| Equity method ownership percentage | 50.00% | |||||
| Maximum [Member] | Asterias Biotherapeutics [Member] | ||||||
| Equity method ownership percentage | 50.00% | |||||
| Percentage of ownership interest outstanding after offering | 48.70% | |||||
| X | ||||||||||
- Definition Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of warrants or rights which entitle the entity to receive future services in exchange for the unvested, forfeitable warrants or rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of the gain (loss) recognized by the parent and included in its attributable portion of net income for the period due to deconsolidation of a subsidiary or derecognition of a group of assets. The gain (loss) recognized and included in the net income attributable to the parent for the period is generally computed as the difference between: (a) the aggregate of: (1) the fair value of any consideration received; (2) the fair value of any retained noncontrolling investment in the former subsidiary at the date the subsidiary was deconsolidated; and (3) the carrying amount of any noncontrolling interest in the former subsidiary (including any accumulated other comprehensive income attributable to the noncontrolling interest) at the date the subsidiary was deconsolidated and (b) the carrying amount of the former subsidiary's assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of shares issued or sold by the subsidiary or equity method investee per stock transaction. No definition available.
|
| X | ||||||||||
- Definition Percentage of subsidiary's or equity investee's stock owned by parent company after stock transaction. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Equity Method Accounting for Common Stock of OncoCyte, at Fair Value (Details Narrative) - OncoCyte Corporation [Member] - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Feb. 17, 2017 |
|
| Common stock at fair value | 14,700,000 | |||
| Fair value on investment | $ 68,200 | $ 71,200 | ||
| Price per share on NYSE American | $ 4.65 | $ 4.85 | ||
| Unrealized gains on equity method investment | $ 2,935 | |||
| X | ||||||||||
- Definition Refers to equity method investment gain (loss) fair value disclosure. No definition available.
|
| X | ||||||||||
- Definition Fair value portion of investments accounted under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Balance held at close of period in number of shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
|
| X | ||||||||||
- Details
|
Equity Method Accounting for Common Stock of OncoCyte, at Fair Value - Schedule of Condensed Results of Operations and Condensed Balance Sheet Information (Details) - OncoCyte Corporation [Member] - USD ($) $ in Thousands |
2 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Feb. 16, 2017 |
[1] | Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
||||||
| Research and development expense | $ 798 | $ 7,174 | $ 5,677 | $ 4,527 | ||||||
| General and administrative expense | 377 | 9,232 | 4,265 | 3,867 | ||||||
| Sales and marketing expense | 213 | 2,443 | 1,198 | 324 | ||||||
| Loss from operations | (1,388) | (18,849) | (11,140) | (8,718) | ||||||
| Net loss | $ (1,392) | (19,375) | (11,168) | $ (8,735) | ||||||
| Current assets | [2] | 8,528 | 12,696 | |||||||
| Noncurrent assets | [2] | 1,688 | 1,751 | |||||||
| Total assets | [2] | 10,216 | 14,447 | |||||||
| Current liabilities | [2] | 4,454 | 4,275 | |||||||
| Noncurrent liabilities | [2] | 1,359 | 310 | |||||||
| Stockholders' equity | [2] | 4,403 | 9,862 | |||||||
| Total liabilities and stockholders' equity | [2] | $ 10,216 | $ 14,447 | |||||||
| ||||||||||
| X | ||||||||||
- Definition Amount of general and administrative expense reported by an equity method investment of the entity. No definition available.
|
| X | ||||||||||
- Definition Amount of research and development expense reported by an equity method investment of the entity. No definition available.
|
| X | ||||||||||
- Definition Amount of sales and marketing expense reported by an equity method investment of the entity. No definition available.
|
| X | ||||||||||
- Definition The amount of assets reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of current assets reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of current liabilities reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of equity, including noncontrolling interest, reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations reported by an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of liabilities and equity reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of net income (loss) reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of noncurrent assets reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of noncurrent liabilities reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
Equity Method Accounting for Common Stock of Asterias, at Fair Value (Details Narrative) - Asterias Biotherapeutics [Member] - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
May 13, 2016 |
|
| Common stock, outstanding | 21,700,000 | |||
| Fair value on investment | $ 48,900 | $ 100,000 | $ 65,700 | |
| Price per share on NYSE American | $ 2.25 | $ 4.60 | $ 3.02 | |
| Unrealized gains on equity method investment | $ (51,107) | $ 34,361 | ||
| X | ||||||||||
- Definition Refers to equity method investment gain (loss) fair value disclosure. No definition available.
|
| X | ||||||||||
- Definition Fair value portion of investments accounted under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Balance held at close of period in number of shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
|
| X | ||||||||||
- Details
|
Equity Method Accounting for Common Stock of Asterias, at Fair Value - Schedule of Condensed Results of Operations and Condensed Balance Sheet Information (Details) - Asterias Biotherapeutics [Member] - USD ($) $ in Thousands |
4 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
May 12, 2016 |
[1] | Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
||||||
| Total revenue | $ 2,354 | $ 4,042 | $ 6,954 | $ 3,582 | ||||||
| Gross profit | 2,301 | 3,877 | 6,826 | 3,314 | ||||||
| Loss from operations | (13,944) | (33,251) | (34,123) | (21,908) | ||||||
| Net loss | $ (13,113) | (28,372) | (35,489) | $ (15,003) | ||||||
| Current assets | [2] | 22,716 | 36,990 | |||||||
| Noncurrent assets | [2] | 20,376 | 24,020 | |||||||
| Total assets | [2] | 43,092 | 61,010 | |||||||
| Current liabilities | [2] | 3,521 | 6,535 | |||||||
| Noncurrent liabilities | [2] | 6,028 | 12,447 | |||||||
| Stockholders' equity | [2] | 33,543 | 42,028 | |||||||
| Total liabilities and stockholders' equity | [2] | $ 43,092 | $ 61,010 | |||||||
| ||||||||||
| X | ||||||||||
- Definition The amount of assets reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of current assets reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of current liabilities reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of equity, including noncontrolling interest, reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of gross profit (loss) reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations reported by an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of liabilities and equity reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of net income (loss) reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of noncurrent assets reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of noncurrent liabilities reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of revenue from sale of goods and services reduced by sales returns, allowances, and discounts reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
Property, Plant and Equipment, Net (Details Narrative) - USD ($) $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Jun. 01, 2016 |
|
| Property plant and equipment | $ 151 | $ 626 | ||
| Depreciation and amortization expense | 947 | $ 1,180 | $ 1,078 | |
| Leasehold improvements | $ 1,600 | |||
| Nonreimbursement leasehold improvement from landlord | 200 | |||
| Maximum [Member] | ||||
| Tenant improvement allowance under lease agreement | $ 1,400 | |||
| X | ||||||||||
- Definition Amount before accumulated depreciation of additions or improvements to assets held under a lease arrangement that are not reimbursable by the landlord. No definition available.
|
| X | ||||||||||
- Definition Amount of allowance for tenant related to lease agreement which use to construct a laboratory and production facility. No definition available.
|
| X | ||||||||||
- Definition Amount before accumulated depreciation of leased physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before accumulated depreciation of additions or improvements to assets held under a lease arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
[1] | Dec. 31, 2016 |
[2] | ||||
|---|---|---|---|---|---|---|---|---|
| Property, Plant and Equipment [Line Items] | ||||||||
| Accumulated depreciation and amortization | $ (3,156) | $ (2,980) | ||||||
| Property, plant and equipment, net | 5,533 | 5,529 | ||||||
| Equipment, Furniture and Fixtures [Member] | ||||||||
| Property, Plant and Equipment [Line Items] | ||||||||
| Property, plant and equipment | 4,255 | 4,718 | ||||||
| Leasehold Improvements [Member] | ||||||||
| Property, Plant and Equipment [Line Items] | ||||||||
| Property, plant and equipment | $ 4,434 | $ 3,791 | ||||||
| ||||||||
| X | ||||||||||
- Definition Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Intangible Assets, Net (Details Narrative) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | |||
| Intangible assets, useful life | 10 years | ||
| Amortization of intangible assets | $ 2,349 | $ 3,577 | $ 5,256 |
| X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- References No definition available.
|
Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
[1] | Dec. 31, 2016 |
[2] | ||||
|---|---|---|---|---|---|---|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||
| Intangible assets | $ 23,294 | $ 25,703 | ||||||
| Accumulated amortization | (16,394) | (15,497) | ||||||
| Intangible assets, net | $ 6,900 | $ 10,206 | ||||||
| ||||||||
| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Intangible Assets, Net - Schedule of Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
[2] | |||||
|---|---|---|---|---|---|---|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||
| 2018 | $ 2,338 | |||||||
| 2019 | 2,328 | |||||||
| 2020 | 1,553 | |||||||
| 2021 | 517 | |||||||
| 2022 | 164 | |||||||
| Intangible assets, net | $ 6,900 | [1] | $ 10,206 | |||||
| ||||||||
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
[1] | Dec. 31, 2016 |
[2] | ||||
|---|---|---|---|---|---|---|---|---|
| Payables and Accruals [Abstract] | ||||||||
| Accounts payable | $ 938 | $ 1,593 | ||||||
| Accrued liabilities | 2,368 | 3,212 | ||||||
| Accrued compensation | 2,275 | 1,904 | ||||||
| Other current liabilities | 137 | 435 | ||||||
| Total | $ 5,718 | $ 7,144 | ||||||
| ||||||||
| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Related Party Transactions (Details Narrative) |
1 Months Ended | 11 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Oct. 17, 2017
USD ($)
$ / shares
shares
|
Jul. 10, 2017
USD ($)
$ / shares
shares
|
Jul. 10, 2017
USD ($)
$ / shares
shares
|
Feb. 15, 2017
USD ($)
$ / shares
shares
|
Jul. 05, 2016
USD ($)
shares
|
Jun. 16, 2016
USD ($)
$ / shares
shares
|
Oct. 31, 2015
USD ($)
$ / shares
shares
|
Sep. 30, 2015
USD ($)
$ / shares
shares
|
Dec. 31, 2017
USD ($)
ft²
$ / shares
|
Dec. 31, 2017
USD ($)
ft²
$ / shares
shares
|
Dec. 31, 2016
USD ($)
$ / shares
shares
|
Dec. 31, 2015
USD ($)
shares
|
Feb. 17, 2017
$ / shares
|
May 13, 2016
$ / shares
|
|
| Carrying value of convertible notes | $ 1,032,000 | |||||||||||||
| Common shares issued value | 45,068,000 | 18,606,000 | $ 33,897,000 | |||||||||||
| Intrinsic value of equity | 3,100,000 | |||||||||||||
| Loss on debt extinguishment | $ 2,799,000 | |||||||||||||
| Markup rate on allocated costs | 5.00% | |||||||||||||
| Interest rate charged on unpaid and overdue invoices | 15.00% | |||||||||||||
| Receivables from related party | $ 2,100,000 | $ 2,100,000 | ||||||||||||
| Rent per month | $ 5,050 | |||||||||||||
| Area of office space square feet | ft² | 900 | 900 | ||||||||||||
| Alfred D. Kingsley [Member] | ||||||||||||||
| Common shares issued | shares | 200,000 | |||||||||||||
| Stock price per share | $ / shares | $ 2.00 | $ 2.00 | ||||||||||||
| Common stock shares converted | shares | 300,000 | |||||||||||||
| Common stock shares converted price per share | $ / shares | 2.81 | $ 2.81 | ||||||||||||
| Common Stock [Member] | ||||||||||||||
| Common shares issued | shares | 11,057,693 | 4,924,542 | 7,453,704 | 1,098,326 | 7,322,176 | 1,600,000 | 2,607,401 | 18,511,000 | 8,420,000 | 10,738,000 | ||||
| Common shares issued value | $ 26,700,000 | $ 15,200,000 | $ 18,500,000 | $ 2,200,000 | $ 16,400,000 | $ 5,100,000 | $ 8,600,000 | $ 45,068,000 | $ 18,606,000 | $ 33,897,000 | ||||
| Price per share on NYSE mkt | $ / shares | $ 3.09 | $ 3.09 | ||||||||||||
| Stock price per share | $ / shares | $ 2.60 | $ 2.70 | $ 2.39 | $ 3.19 | $ 3.29 | |||||||||
| Hadasit Bio-Holdings, Ltd [Member] | ||||||||||||||
| Ownership percentage, noncontrolling owners | 21.20% | 21.20% | ||||||||||||
| OncoCyte Corporation [Member] | ||||||||||||||
| Price per share on NYSE mkt | $ / shares | $ 4.65 | $ 4.65 | $ 4.85 | |||||||||||
| Repayments of related party debt | $ 1,600,000 | |||||||||||||
| Ascendance Biotechnology, Inc [Member] | ||||||||||||||
| Receivables from related party | $ 200,000 | $ 200,000 | ||||||||||||
| Asterias Biotherapeutics [Member] | ||||||||||||||
| Price per share on NYSE mkt | $ / shares | $ 2.25 | $ 2.25 | $ 4.60 | $ 3.02 | ||||||||||
| Receivables from related party | $ 300,000 | |||||||||||||
| Net payables to related party | $ 33,000 | $ 33,000 | ||||||||||||
| AgeX Therapeutics, Inc [Member] | ||||||||||||||
| Additional common shares purchased | shares | 421,500 | |||||||||||||
| Additional common stock shares purchased price per share | $ / shares | $ 2.00 | $ 2.00 | ||||||||||||
| Common stock issued to unaffiliated and existing investors | shares | 300,000 | |||||||||||||
| Common stock price per share issued to unaffiliated and existing investors | $ / shares | $ 2.81 | $ 2.81 | ||||||||||||
| Maximum [Member] | OncoCyte Corporation [Member] | ||||||||||||||
| Term of payment | 30 days | |||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | ||||||||||||||
| Carrying value of convertible notes | $ 1,865,000 | $ 1,865,000 | ||||||||||||
| Amount of accrued interest | 2,544,000 | 2,544,000 | ||||||||||||
| Unamortized debt discount | $ 679,000 | $ 679,000 | ||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | Hadasit Bio-Holdings, Ltd [Member] | Common Stock [Member] | ||||||||||||||
| Common shares issued | shares | 1,220,207 | |||||||||||||
| Common shares issued value | $ 3,800,000 | |||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | Convertible Notes [Member] | ||||||||||||||
| Convertible notes bear a stated interest rate | 3.00% | 3.00% | ||||||||||||
| Conversion price | $ / shares | $ 20.00 | $ 20.00 | ||||||||||||
| Accrued interest, payable period | 3 years | |||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | Convertible Notes [Member] | Hadasit Bio-Holdings, Ltd [Member] | Common Stock [Member] | ||||||||||||||
| Common shares issued | shares | 2,776,662 | |||||||||||||
| Common shares issued value | $ 8,600,000 | |||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | Convertible Notes [Member] | Minimum [Member] | ||||||||||||||
| Estimated fair market value per share | $ / shares | $ 28.00 | |||||||||||||
| Intrinsic value per share | $ / shares | $ 8 | |||||||||||||
| Effective annual interest rate | 11.00% | 11.00% | ||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | Convertible Notes [Member] | Maximum [Member] | ||||||||||||||
| Estimated fair market value per share | $ / shares | $ 40.00 | |||||||||||||
| Intrinsic value per share | $ / shares | $ 20 | |||||||||||||
| Effective annual interest rate | 23.00% | 23.00% | ||||||||||||
| X | ||||||||||
- Definition Number of additional shares purchased during the period. No definition available.
|
| X | ||||||||||
- Definition Refers to the price per share of additional shares purchased during the period. No definition available.
|
| X | ||||||||||
- Definition Refers the number of common shares issued to unaffiliated and existing investors. No definition available.
|
| X | ||||||||||
- Definition Refers to the per share price of common stock issued to unaffiliated and existing investors. No definition available.
|
| X | ||||||||||
- Definition Refers to the per share value of number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. No definition available.
|
| X | ||||||||||
- Definition Refers to the price per share of the estimated fair market value feature embedded in the debt instrument. No definition available.
|
| X | ||||||||||
- Definition Refers to the price per share of the estimated intrinsic value feature embedded in the debt instrument. No definition available.
|
| X | ||||||||||
- Definition Represents the percentage of interest charged on invoices not paid when due. No definition available.
|
| X | ||||||||||
- Definition The percentage markup of the fee for the services and usage of facilities, equipment, and supplies aforementioned which shall be paid by the entity under Shared Facilities Agreement. No definition available.
|
| X | ||||||||||
- Definition Represents the maximum number of days upon the receipt of an invoice within which the invoice must be paid, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Area of a real estate property. No definition available.
|
| X | ||||||||||
- Definition The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Convertible Notes Payable, excluding current portion. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Amount, after accumulated amortization, of debt discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of interest payable on debt, including, but not limited to, trade payables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
- Definition Cash payments to lessor's for use of assets under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction. No definition available.
|
| X | ||||||||||
- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The increase (decrease) in stockholders' equity during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Shareholders' Equity (Details Narrative) |
1 Months Ended | 12 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Oct. 17, 2017
USD ($)
$ / shares
shares
|
Oct. 04, 2017
shares
|
Aug. 17, 2017
USD ($)
$ / shares
shares
|
Jul. 10, 2017
USD ($)
$ / shares
shares
|
Jul. 10, 2017
USD ($)
$ / shares
shares
|
Feb. 15, 2017
USD ($)
$ / shares
shares
|
Jul. 05, 2016
USD ($)
shares
|
Jun. 16, 2016
USD ($)
$ / shares
shares
|
Dec. 31, 2015
USD ($)
shares
|
Oct. 31, 2015
USD ($)
$ / shares
shares
|
Sep. 30, 2015
USD ($)
$ / shares
shares
|
Dec. 31, 2017
USD ($)
$ / shares
shares
|
Dec. 31, 2016
USD ($)
$ / shares
shares
|
Dec. 31, 2015
USD ($)
shares
|
Jun. 06, 2017 |
Apr. 06, 2017
USD ($)
$ / shares
|
Feb. 17, 2017 |
May 13, 2016
shares
|
|
| Preferred shares, shares authorized | 2,000,000 | 2,000,000 | ||||||||||||||||
| Preferred shares, shares issued | ||||||||||||||||||
| Preferred shares, shares outstanding | ||||||||||||||||||
| Common stock, shares authorized | 150,000,000 | 150,000,000 | ||||||||||||||||
| Common stock, no par value | $ / shares | ||||||||||||||||||
| Common stock, issued | 126,866,000 | 103,396,000 | ||||||||||||||||
| Common stock, outstanding | 126,866,000 | 102,776,000 | ||||||||||||||||
| Treasury stock, shares | 620,000 | |||||||||||||||||
| Number of common stock issued value | $ | $ 45,068,000 | $ 18,606,000 | $ 33,897,000 | |||||||||||||||
| Noncontrolling interest | $ | $ 1,622,000 | 12,580,000 | ||||||||||||||||
| Ownership percentage | 99.80% | 99.80% | 20.00% | |||||||||||||||
| Noncash expense | $ | $ 3,932,000 | 7,951,000 | 11,050,000 | |||||||||||||||
| Contribution Agreement [Member] | ||||||||||||||||||
| Ownership percentage | 85.40% | |||||||||||||||||
| Proportional transfer of carrying value | $ | $ 5,500,000 | |||||||||||||||||
| General and Administrative Expense [Member] | ||||||||||||||||||
| Noncash expense | $ | $ 3,000,000 | 5,343,000 | $ 7,783,000 | |||||||||||||||
| Maximum [Member] | ||||||||||||||||||
| Ownership percentage | 50.00% | |||||||||||||||||
| Cantor Fitzgerald & Co [Member] | ||||||||||||||||||
| Common stock, no par value | $ / shares | ||||||||||||||||||
| Aggregate offering price | $ | $ 25,000,000 | |||||||||||||||||
| Percentage of commission payable | 3.00% | |||||||||||||||||
| Alfred D. Kingsley [Member] | ||||||||||||||||||
| Number of common stock shares sold | 300,000 | |||||||||||||||||
| Purchase price, per share | $ / shares | $ 2.81 | |||||||||||||||||
| Acquisition of common shares | 300,000 | |||||||||||||||||
| Number of shares acquired from subsidiary in terms of exchange | 421,500 | |||||||||||||||||
| OncoCyte [Member] | ||||||||||||||||||
| Noncontrolling interest | $ | 4,000,000 | |||||||||||||||||
| Asterias Biotherapeutics [Member] | ||||||||||||||||||
| Noncontrolling interest | $ | $ 18,300,000 | |||||||||||||||||
| Warrants issued to purchase ordinary shares | 2,959,559 | |||||||||||||||||
| Asterias Biotherapeutics [Member] | Maximum [Member] | ||||||||||||||||||
| Ownership percentage | 50.00% | |||||||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | ||||||||||||||||||
| Charge to equity, value | $ | $ 10,100,000 | |||||||||||||||||
| Proportional transfer of carrying value | $ | $ 3,500,000 | |||||||||||||||||
| Number of stock options exercised to purchase ordinary shares | 4,400 | |||||||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | Maximum [Member] | ||||||||||||||||||
| Ownership percentage | 99.80% | |||||||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | Minimum [Member] | ||||||||||||||||||
| Ownership percentage | 98.80% | |||||||||||||||||
| OrthoCyte Corporation [Member] | ||||||||||||||||||
| Number of stock options exercised to purchase ordinary shares | 51,000 | |||||||||||||||||
| OrthoCyte Corporation [Member] | Maximum [Member] | ||||||||||||||||||
| Ownership percentage | 100.00% | |||||||||||||||||
| OrthoCyte Corporation [Member] | Minimum [Member] | ||||||||||||||||||
| Ownership percentage | 99.80% | |||||||||||||||||
| Common Stock [Member] | ||||||||||||||||||
| Number of common stock shares sold | 11,057,693 | 4,924,542 | 7,453,704 | 1,098,326 | 7,322,176 | 1,600,000 | 2,607,401 | 18,511,000 | 8,420,000 | 10,738,000 | ||||||||
| Purchase price, per share | $ / shares | $ 2.60 | $ 2.70 | $ 2.39 | $ 3.19 | $ 3.29 | |||||||||||||
| Number of common stock issued value | $ | $ 26,700,000 | $ 15,200,000 | $ 18,500,000 | $ 2,200,000 | $ 16,400,000 | $ 5,100,000 | $ 8,600,000 | $ 45,068,000 | $ 18,606,000 | $ 33,897,000 | ||||||||
| Number of stock options exercised to purchase ordinary shares | 9,000 | 155,000 | ||||||||||||||||
| Common Stock [Member] | Certain Investment [Member] | ||||||||||||||||||
| Number of common stock shares sold | 6,530,612 | |||||||||||||||||
| Purchase price, per share | $ / shares | $ 3.13 | |||||||||||||||||
| Number of common stock issued value | $ | $ 20,400,000 | |||||||||||||||||
| Common Stock [Member] | OncoCyte [Member] | ||||||||||||||||||
| Number of common stock shares sold | 4,700,000 | 246,356 | ||||||||||||||||
| Shares conversion ratio | 20 | |||||||||||||||||
| Equity method investment description | As a result of this distribution, BioTime recorded a reduction in the carrying value of its investment in OncoCyte with a corresponding increase to noncontrolling interests in OncoCyte in the amount of $712,000, representing the reduction in BioTime’s ownership in OncoCyte by 18.7% from 76.5% to 57.8%. | |||||||||||||||||
| Reduction in equity method investment | $ | $ 712,000 | |||||||||||||||||
| Taxable gain | $ | $ 7,400,000 | |||||||||||||||||
| OncoCyte [Member] | ||||||||||||||||||
| Treasury stock, shares | 619,706 | |||||||||||||||||
| Hadasit Bio-Holdings, Ltd [Member] | ||||||||||||||||||
| Ownership percentage, noncontrolling owners | 21.20% | 21.20% | ||||||||||||||||
| Warrants issued to purchase ordinary shares | 24,566 | 24,566 | ||||||||||||||||
| Warrants exercise price per share | $ / shares | $ 40.5359 | $ 40.5359 | ||||||||||||||||
| Warrants exercisable term | 5 years | |||||||||||||||||
| Hadasit Bio-Holdings, Ltd [Member] | Other Long-term Liabilities [Member] | ||||||||||||||||||
| Noncash expense | $ | $ 535,000 | |||||||||||||||||
| Hadasit Bio-Holdings, Ltd [Member] | Common Stock [Member] | Cell Cure Neurosciences, Ltd. [Member] | ||||||||||||||||||
| Number of common stock shares sold | 1,220,207 | |||||||||||||||||
| Number of common stock issued value | $ | $ 3,800,000 | |||||||||||||||||
| Teva Pharmaceutical Industries, Ltd [Member] | ||||||||||||||||||
| Ownership percentage, noncontrolling owners | 16.10% | 16.10% | ||||||||||||||||
| HBL And Teva [Member] | ||||||||||||||||||
| Number of common stock shares sold | 2,147,880 | |||||||||||||||||
| Number of common stock issued value | $ | $ 6,600,000 | |||||||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | ||||||||||||||||||
| Ownership percentage | 62.50% | 62.50% | ||||||||||||||||
| Cell Cure Neurosciences, Ltd. [Member] | General and Administrative Expense [Member] | ||||||||||||||||||
| Noncash expense | $ | 555,000 | |||||||||||||||||
| AgeX [Member] | ||||||||||||||||||
| Number of common stock shares sold | 4,950,000 | |||||||||||||||||
| Number of common stock issued value | $ | $ 10,000,000 | |||||||||||||||||
| Number of shares acquired from subsidiary in terms of exchange | 28,800,000 | |||||||||||||||||
| Ownership percentage | 85.40% | |||||||||||||||||
| Cash contributed to acquire subsidiary | $ | 100,000 | |||||||||||||||||
| AgeX [Member] | License Agreement [Member] | ||||||||||||||||||
| Proportional transfer of carrying value | $ | $ 8,200,000 | |||||||||||||||||
| ReCyte Therapeutics, Inc. [Member] | ||||||||||||||||||
| Ownership percentage | 95.00% | |||||||||||||||||
| LifeMap Sciences, Inc. [Member] | ||||||||||||||||||
| Ownership percentage | 82.00% | 100.00% | ||||||||||||||||
| LifeMap Sciences, Inc. [Member] | Maximum [Member] | ||||||||||||||||||
| Ownership percentage | 82.00% | |||||||||||||||||
| LifeMap Sciences, Inc. [Member] | Minimum [Member] | ||||||||||||||||||
| Ownership percentage | 78.00% | |||||||||||||||||
| Ascendance Biotechnology, Inc [Member] | ||||||||||||||||||
| Ownership percentage | 44.00% | |||||||||||||||||
| X | ||||||||||
- Definition Maximum aggregate offering price of shares under sales agreement. No definition available.
|
| X | ||||||||||
- Definition Refers to the amount of cash contributed by parent to acquire subsidiary. No definition available.
|
| X | ||||||||||
- Definition Charge to equity, value. No definition available.
|
| X | ||||||||||
- Definition Refers to term of warrants to exercise, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Equity method investment description. No definition available.
|
| X | ||||||||||
- Definition Proportional transfer of carrying value. No definition available.
|
| X | ||||||||||
- Definition Refers to the amount of reduction in equity method investment. No definition available.
|
| X | ||||||||||
- Definition Refers to a commission payable to the seller as a percentage of gross proceeds from the sale of shares of the entity. No definition available.
|
| X | ||||||||||
- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Face amount per share of no-par value common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of an equity method investment. No definition available.
|
| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction. No definition available.
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| X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of shares of stock issued during the period pursuant to acquisitions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Ratio applied to the conversion of stock split, for example but not limited to, one share converted to two or two shares converted to one. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Shareholders' Equity - Schedule of Activity Related to Warrants (Details) - Warrant [Member] - $ / shares |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
||||||
| Numbers of Warrant Shares Outstanding Beginning Balance | 9,395 | 10,110 | 9,195 | |||||
| Numbers of Warrant Shares Exercised | (4) | |||||||
| Numbers of Warrant Shares Warrant adjustment | [1] | 919 | ||||||
| Numbers of Warrant Shares Expired | (715) | |||||||
| Numbers of Warrant Shares Outstanding Ending Balance | 9,365 | [2] | 9,395 | 10,110 | ||||
| Per share exercise price Outstanding Beginning Balance | $ 4.55 | $ 4.55 | $ 5.00 | |||||
| Per share exercise price Exercised | 5.00 | |||||||
| Per share exercise price Expired | 4.55 | |||||||
| Per share exercise price Outstanding Ending Balance | 4.55 | [2] | 4.55 | 4.55 | ||||
| Weighted Average Exercise Price Outstanding Beginning Balance | 4.55 | 4.55 | 5.00 | |||||
| Weighted Average Exercise Price Exercised | 5.00 | |||||||
| Weighted Average Exercise Price Expired | 4.55 | |||||||
| Weighted Average Exercise Price Outstanding Ending Balance | $ 4.55 | [2] | $ 4.55 | $ 4.55 | ||||
| ||||||||
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Per share weighted average intrinsic value of equity-based compensation awards forfeited. Excludes stock and unit options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Per share weighted average intrinsic value of equity-based compensation awards not vested. Excludes stock and unit options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The net total number of shares (or other type of equity) under an equity-based award plan, other than a stock option plan, that were granted, vested and forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Per share weighted average intrinsic value of equity-based compensation awards vested. Excludes stock and unit options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Shareholders' Equity - Schedule of Activity Related to Warrants (Details) (Parenthetical) - Warrants [Member] |
12 Months Ended |
|---|---|
|
Dec. 31, 2017
shares
| |
| Number of outstanding warrants | 9,394,862 |
| Warrant expiration | beginning June 5, 2018 through September 30, 2018 |
| X | ||||||||||
- Definition Warrant expiration. No definition available.
|
| X | ||||||||||
- Definition Number of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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Stock Option Plans (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| 2012 Equity Incentive Plan [Member] | |||
| Common shares reserved for future issuance | 16,000,000 | ||
| Unrecognized compensation costs related to unvested stock options | $ 3,700 | ||
| Expense recognized, weighted average period | 2 years 5 months 9 days | ||
| 2002 Plan and 2012 Plan [Member] | |||
| Weighted-average estimated fair value of stock options granted | $ 1.65 | $ 1.69 | $ 2.13 |
| 2012 Plan [Member] | |||
| Common shares vested issued in lieu of cash | 81,603 | ||
| Number of shares available for grant | 163,000 | ||
| X | ||||||||||
- Definition The number of common stock issued which will vest immediately in lieu of cash (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). No definition available.
|
| X | ||||||||||
- Definition Aggregate number of common shares reserved for future issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Unrecognized cost of unvested options awarded to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Option Plans - Schedule of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
| Total stock-based compensation expense | $ 3,932 | $ 7,951 | $ 11,050 |
| Research and Development [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
| Total stock-based compensation expense | 932 | 2,608 | 3,267 |
| General and Administrative [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
| Total stock-based compensation expense | $ 3,000 | $ 5,343 | $ 7,783 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Option Plans - Schedule of Weighted Average Assumptions to Calculate Fair Value of Stock Options (Details) - 2002 Plan and 2012 Plan [Member] |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Expected life (in years) | 5 years 6 months 18 days | 5 years 9 months 29 days | 5 years 7 months 13 days |
| Risk-free interest rates | 1.83% | 1.45% | 1.70% |
| Volatility | 58.76% | 61.24% | 65.82% |
| Dividend yield | 0.00% | 0.00% | 0.00% |
| X | ||||||||||
- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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Stock Option Plans - Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity (Details) - $ / shares |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
||||
| Stock Option 2002 Plan and 2012 Plan [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Shares Available for Grant, Beginning balance | 2,894,000 | 5,257,000 | 668,000 | |||
| Shares Available for Grant, Increase to option pool | 6,000,000 | 6,000,000 | ||||
| Shares Available for Grant, RSUs | (200,000) | |||||
| Common stock issued to consultant in lieu of cash | (28,000) | |||||
| Common stock issued to employee for bonuses in lieu of cash | (135,000) | |||||
| Shares Available for Grant, Exercised | ||||||
| Shares Available for Grant, Temporary restriction by Board on available pool | [1] | (5,000,000) | ||||
| Shares Available for Grant Restricted stock units vested | ||||||
| Shares Available for Grant End of the period | 2,485,000 | 2,894,000 | 5,257,000 | |||
| Number of Options Outstanding, Beginning balance | 6,958,000 | 5,194,000 | 3,974,000 | |||
| Number of Options Outstanding, Increase in option pool | ||||||
| Number of Options Outstanding, Temporary restriction by Board on available pool | [1] | |||||
| Number of Options Outstanding, Options exercised | (9,000) | (156,000) | ||||
| Number of Options Outstanding, Common stock issued to consultant in lieu of cash | ||||||
| Number of Options Outstanding, Common stock issued to employee for bonuses in lieu of cash | ||||||
| Number of Options Outstanding, RSUs | ||||||
| Number of Options Outstanding, End balance | 8,043,000 | 6,958,000 | 5,194,000 | |||
| Number of RSUs Outstanding, Beginning balance | 100,000 | |||||
| Number of RSUs Outstanding, Restricted stock units vested | (38,000) | 100,000 | ||||
| Number of RSUs Outstanding, End balance | 62,000 | 100,000 | ||||
| Weighted Average Exercise Price of Options Outstanding, beginning balance | $ 3.60 | $ 3.93 | $ 4.04 | |||
| Weighted Average Exercise Price of Options, Increase in option pool | ||||||
| Weighted Average Exercise Price of Options, RSUs | ||||||
| Weighted Average Exercise Price of Options, Common stock issued to consultant in lieu of cash | ||||||
| Weighted Average Exercise Price of Options, Common stock issued to employee for bonuses in lieu of cash | ||||||
| Weighted Average Exercise Price of Options, Options exercised | 2.66 | 4.00 | ||||
| Weighted Average Exercise Price of Options, Outstanding end balance | $ 3.38 | $ 3.60 | $ 3.93 | |||
| Stock Option Plan Of 2002 [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Shares Available for Grant Options Forfeited/cancelled/expired | ||||||
| Number of Options Outstanding, Options forfeited/cancelled/expired | (236,000) | (35,000) | ||||
| Weighted Average Exercise Price of Options, Options forfeited/cancelled | $ 5.17 | $ 6.72 | ||||
| Stock Option Plan Of 2012 [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Shares Available for Grant, Options Granted | (1,954,000) | (2,315,000) | (1,650,000) | |||
| Shares Available for Grant Options Forfeited/cancelled/expired | 545,000 | 315,000 | 239,000 | |||
| Number of Options Outstanding, Increase in option pool | 2,315,000 | |||||
| Number of Options Outstanding, Options granted | 1,954,000 | 1,650,000 | ||||
| Number of Options Outstanding, Options forfeited/cancelled/expired | (860,000) | (315,000) | (239,000) | |||
| Weighted Average Exercise Price of Options, Options granted | $ 3.04 | $ 3.03 | $ 3.72 | |||
| Weighted Average Exercise Price of Options, Options forfeited/cancelled | $ 4.43 | $ 3.77 | $ 3.82 | |||
| ||||||
| X | ||||||||||
- Definition Number of Options Outstanding, common stock issued to consultant in lieu of cash. No definition available.
|
| X | ||||||||||
- Definition Number of Options Outstanding, common stock issued to employee for bonuses in lieu of cash. No definition available.
|
| X | ||||||||||
- Definition The number of common stock issued to employee for bonuses in lieu of cash (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). No definition available.
|
| X | ||||||||||
- Definition The number of common stock issued to consultant in lieu of cash (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). No definition available.
|
| X | ||||||||||
- Definition The number of available grants during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). No definition available.
|
| X | ||||||||||
- Definition Number of RSUs Outstanding. No definition available.
|
| X | ||||||||||
- Definition Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
- Definition Number of Options Outstanding, Temporary restriction by Board on available pool. No definition available.
|
| X | ||||||||||
- Definition Number of Options Outstanding, RSU vesting. No definition available.
|
| X | ||||||||||
- Definition Weighted Average Exercise Price of Options, Common stock issued to consultant in lieu of cash. No definition available.
|
| X | ||||||||||
- Definition Weighted Average Exercise Price of Options, Common stock issued to employee for bonuses in lieu of cash. No definition available.
|
| X | ||||||||||
- Definition Weighted Average Exercise Price of Options, RSUs. No definition available.
|
| X | ||||||||||
- Definition Temporary restriction by Board on available pool. No definition available.
|
| X | ||||||||||
- Definition Shares Available for Grant Restricted stock units vested. No definition available.
|
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Weighted average price of options that were either forfeited or expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
- Definition Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase or decrease in number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Change in the weighted average exercise price of options outstanding. No definition available.
|
| X | ||||||||||
- Definition Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
| X | ||||||||||
- Definition Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. No definition available.
|
| X | ||||||||||
- Definition Number of non-vested options outstanding. No definition available.
|
| X | ||||||||||
- Definition Number of non-vested options forfeited. No definition available.
|
| X | ||||||||||
- Definition Number of increase (decrease) of non-vested options. No definition available.
|
| X | ||||||||||
- Definition Number of options vested. No definition available.
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| X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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| X | ||||||||||
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| X | ||||||||||
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Stock Option Plans - Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity (Details) (Parenthetical) |
Oct. 13, 2017
shares
|
|---|---|
| Stock Option Plan Of 2012 [Member] | |
| Number of common shares remaining available for awards | 2,500,000 |
| X | ||||||||||
- Definition The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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Stock Option Plans - Schedule of Options Outstanding and Exercisable Range of Exercise Prices (Details) - 2002 Plan and 2012 Plan [Member] |
12 Months Ended |
|---|---|
|
Dec. 31, 2017
$ / shares
shares
| |
| Range of Exercise Price One [Member] | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Range of Exercise Prices, Lower Range Limit | $ 2.52 |
| Range of Exercise Prices, Upper Range Limit | $ 3.96 |
| Number Outstanding | shares | 6,883 |
| Options Outstanding, Weighted Avgerage Contractual Life (years) | 7 years 2 months 23 days |
| Options Outstanding, Weighted Average Exercise Price | $ 3.24 |
| Number Exercisable | shares | 3,190 |
| Options Exercisable, Weighted Average Exercise Price | $ 3.35 |
| Range of Exercise Price Two [Member] | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Range of Exercise Prices, Lower Range Limit | 4.02 |
| Range of Exercise Prices, Upper Range Limit | $ 4.95 |
| Number Outstanding | shares | 1,150 |
| Options Outstanding, Weighted Avgerage Contractual Life (years) | 3 years 2 months 1 day |
| Options Outstanding, Weighted Average Exercise Price | $ 4.22 |
| Number Exercisable | shares | 1,048 |
| Options Exercisable, Weighted Average Exercise Price | $ 4.22 |
| Range of Exercise Price Three [Member] | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Range of Exercise Prices, Lower Range Limit | 5.02 |
| Range of Exercise Prices, Upper Range Limit | $ 8.58 |
| Number Outstanding | shares | 10 |
| Options Outstanding, Weighted Avgerage Contractual Life (years) | 2 months 12 days |
| Options Outstanding, Weighted Average Exercise Price | $ 32.62 |
| Number Exercisable | shares | 10 |
| Options Exercisable, Weighted Average Exercise Price | $ 7.47 |
| Range of Exercise Price Four [Member] | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Range of Exercise Prices, Lower Range Limit | 2.52 |
| Range of Exercise Prices, Upper Range Limit | $ 8.58 |
| Number Outstanding | shares | 8,043 |
| Options Outstanding, Weighted Avgerage Contractual Life (years) | 6 years 7 months 21 days |
| Options Outstanding, Weighted Average Exercise Price | $ 3.38 |
| Number Exercisable | shares | 4,248 |
| Options Exercisable, Weighted Average Exercise Price | $ 3.57 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The floor of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of shares reserved for issuance pertaining to the outstanding exercisable stock options as of the balance sheet date in the customized range of exercise prices for which the market and performance vesting condition has been satisfied. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of shares reserved for issuance pertaining to the outstanding stock options as of the balance sheet date for all option plans in the customized range of exercise prices. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The ceiling of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Weighted average exercise price as of the balance sheet date for those equity-based payment arrangements exercisable and outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The weighted average price as of the balance sheet date at which grantees could acquire the underlying shares with respect to all outstanding stock options which are in the customized range of exercise prices. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Weighted average remaining contractual term of outstanding stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Commitments and Contingencies (Details Narrative) |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Dec. 31, 2017
USD ($)
ft²
m²
Integer
|
Dec. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2017
ILS (₪)
ft²
m²
|
Dec. 10, 2015
USD ($)
ft²
|
|
| Operating Leased Assets [Line Items] | |||||
| Security deposit | $ 847,000 | ||||
| Rent expense | 1,100 | $ 1,500 | $ 2,100 | ||
| Maximum [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Tenant improvement allowance | $ 1,400,000 | ||||
| NIS [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Base rent | ₪ | ₪ 63,402 | ||||
| Cell Cure Neurosciences, Ltd. [Member] | Minimum [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Royalty revenue percentage | 15.00% | ||||
| Cell Cure Neurosciences, Ltd. [Member] | Maximum [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Royalty revenue percentage | 25.00% | ||||
| Milestone payments | $ 3,500,000 | ||||
| New Alameda Lease [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Leased area | ft² | 30,795 | ||||
| Number of buildings for lease | Integer | 2 | ||||
| Lease term | 7 years | ||||
| Number of years lease can be extended | 5 years | ||||
| Lease commencement date | Feb. 01, 2016 | ||||
| Tenant improvement allowance | $ 1,400 | ||||
| Amount due to landlord | $ 1,200 | ||||
| Base rent | $ 64,670 | ||||
| Base rent increase rate | 3.00% | ||||
| Security deposit | $ 847,000 | ||||
| Security deposit reduction in value after first twenty four months of lease term | 423,000 | ||||
| Additional reduction in value after first thirty six months of lease term | $ 346,000 | ||||
| Reporting Entities [Member] | Office Space in New York City [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Base rent | 5,050 | ||||
| Office and Laboratory Space, Jerusalem, Israel [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Base rent | $ 18,247 | ||||
| Office and Laboratory Space, Jerusalem, Israel [Member] | Cell Cure [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Leased area | m² | 1,128 | 1,128 | |||
| Number of years lease can be extended | 5 years | ||||
| Area of land | ft² | 12,142 | 12,142 | |||
| Lease expiration | a lease that expires between May 30, 2019 and December 31, 2020 | ||||
| License fees and related expenses | $ 221,000 | $ 180,000 | $ 282,000 | ||
| Office and Laboratory Space, Jerusalem, Israel [Member] | Cell Cure [Member] | Minimum [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Minimum annual maintenance fees | 135,000 | ||||
| Office and Laboratory Space, Jerusalem, Israel [Member] | Cell Cure [Member] | Maximum [Member] | |||||
| Operating Leased Assets [Line Items] | |||||
| Minimum annual maintenance fees | $ 150,000 | ||||
| X | ||||||||||
- Definition Refers to additional value by which the security deposit has been reduced after first thirty-six months of lease term. No definition available.
|
| X | ||||||||||
- Definition Refers to the base monthly rent as per lease agreement. No definition available.
|
| X | ||||||||||
- Definition This refer to base rent increase rate per year as per lease agreement. No definition available.
|
| X | ||||||||||
- Definition Date which lease or group of leases is set to commence, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
- Definition Lease expiration. No definition available.
|
| X | ||||||||||
- Definition This line item represents the term to which asset leased. No definition available.
|
| X | ||||||||||
- Definition Payment made in phases per the agreement. No definition available.
|
| X | ||||||||||
- Definition Refers to number of buildings in which rentable space is taken on lease. No definition available.
|
| X | ||||||||||
- Definition Represents the number of years for which the lease can be extended. No definition available.
|
| X | ||||||||||
- Definition Refers to royalty revenue percentage of sublicensing receipts. No definition available.
|
| X | ||||||||||
- Definition Refers to value by which the security deposit has been reduced after first twenty-four months of lease term. No definition available.
|
| X | ||||||||||
- Definition Amount of allowance for tenant related to lease agreement which use to construct a laboratory and production facility. No definition available.
|
| X | ||||||||||
- Definition Area of land held. No definition available.
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Area of land subject to a ground lease. No definition available.
|
| X | ||||||||||
- Definition Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
|
| X | ||||||||||
- Definition Costs incurred and are directly related to generating license revenue. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Costs incurred and are directly related to generating maintenance revenues. Also includes cost of maintenance on client contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The amount of an asset, typically cash, provided to a counterparty to provide certain assurance of performance by the entity pursuant to the terms of a written or oral agreement, such as a lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
Commitments and Contingencies - Schedule of Future Minimum Operating and Capital Lease Payments (Details) $ in Thousands |
Dec. 31, 2017
USD ($)
|
|---|---|
| Commitments and Contingencies Disclosure [Abstract] | |
| 2018 | $ 1,266 |
| 2019 | 1,100 |
| 2020 | 1,030 |
| 2021 | 918 |
| 2022 | 946 |
| Thereafter | 86 |
| Total | 5,346 |
| 2018 | 31 |
| 2019 | 37 |
| 2020 | 37 |
| 2021 | 37 |
| 2022 | 37 |
| Thereafter | 16 |
| Total | 195 |
| Less amounts representing interest | (44) |
| Present value of net minimum lease payments | $ 151 |
| X | ||||||||||
- Definition Present value of net minimum lease payments. No definition available.
|
| X | ||||||||||
- Definition Less amounts representing interest. No definition available.
|
| X | ||||||||||
- Definition Amount of minimum lease payments for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes (Details Narrative) - USD ($) $ in Thousands |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 22, 2017 |
Feb. 17, 2017 |
May 13, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Jun. 06, 2017 |
|
| Repatriation tax foreign earnings in federal income | $ 227 | ||||||
| Net deferred tax assets | $ 8,900 | ||||||
| Federal income tax rate | 34.00% | 34.00% | 34.00% | ||||
| Net operating loss carryforwards for federal tax purposes | $ 162,600 | ||||||
| Foreign net operating loss carryforwards | 65,200 | ||||||
| Net operating loss carryforwards for state tax purposes | 95,000 | ||||||
| Deferred income tax benefit | $ (4,516) | ||||||
| Deferred income tax expense (benefit), federal | 4,800 | ||||||
| Deferred income tax expense (benefit), state taxes | $ 290 | ||||||
| Net operating loss carryforwards change in ownership control | 50.00% | ||||||
| Federal and State [Member] | |||||||
| Net operating losses expiration date | between 2018 and 2036 | ||||||
| Federal [Member] | |||||||
| Net operating losses expiration date | between 2018 and 2036 | ||||||
| Tax credit carryforwards | $ 3,300 | ||||||
| State Tax [Member] | |||||||
| Tax credit carryforwards | 3,300 | ||||||
| LifeMap Sciences, Ltd. [Member] | |||||||
| Net operating loss carryforwards for federal tax purposes | 17,600 | ||||||
| OncoCyte Deconsolidation [Member] | |||||||
| Gain on deconsolidation of asterias | $ 71,700 | 2,900 | |||||
| Asterias Deconsolidation [Member] | |||||||
| Gain on deconsolidation of asterias | $ 49,000 | 51,100 | $ 34,300 | ||||
| LifeMap Solutions, Inc [Member] | |||||||
| Taxable gain on asset transfer | 3,700 | ||||||
| Federal alternative minimum tax payable | $ 22,000 | ||||||
| LifeMap Solutions, Inc [Member] | Debt Conversion Agreement [Member] | |||||||
| Iintercompany indebtedness | $ 8,700 | ||||||
| Net operating loss carryforwards | $ 3,300 | ||||||
| Maximum [Member] | |||||||
| Deferred tax assets and liabilities re-rated percentage | 34.00% | ||||||
| Minimum [Member] | |||||||
| Deferred tax assets and liabilities re-rated percentage | 21.00% | ||||||
| X | ||||||||||
- Definition Deferred tax assets and liabilities re-rated percentage. No definition available.
|
| X | ||||||||||
- Definition Net operating loss carryforwards change in ownership control. No definition available.
|
| X | ||||||||||
- Definition Net operating losses expiration date. No definition available.
|
| X | ||||||||||
- Definition The amount of the gain (loss) recognized by the parent and included in its attributable portion of net income for the period due to deconsolidation of a subsidiary or derecognition of a group of assets. The gain (loss) recognized and included in the net income attributable to the parent for the period is generally computed as the difference between: (a) the aggregate of: (1) the fair value of any consideration received; (2) the fair value of any retained noncontrolling investment in the former subsidiary at the date the subsidiary was deconsolidated; and (3) the carrying amount of any noncontrolling interest in the former subsidiary (including any accumulated other comprehensive income attributable to the noncontrolling interest) at the date the subsidiary was deconsolidated and (b) the carrying amount of the former subsidiary's assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible domestic operating loss carryforwards. Excludes state and local operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible foreign operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible state and local operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible alternative minimum tax credit carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to repatriation of foreign earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Indebtedness not included on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Disclosure of the difference in values (gain (loss)) between the nonmonetary assets or liabilities exchanged with another entity inclusive of boot (small monetary consideration). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) |
Dec. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|
| Income Tax Disclosure [Abstract] | ||
| Net operating loss carryforwards | $ 55,608 | $ 78,116 |
| Research and development and other credits | 6,548 | 7,645 |
| Patents and licenses | 910 | (67) |
| Equity method investments at fair value | (23,946) | (40,258) |
| Stock options | 713 | 1,529 |
| Other, net | 812 | 2,248 |
| Total | 40,645 | 49,213 |
| Valuation allowance | (40,645) | (49,213) |
| Net deferred tax assets |
| X | ||||||||||
- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible research tax credit carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from intangible assets other than goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from investments in unconsolidated subsidiaries and investments in other affiliates which are not controlled nor consolidated. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Income Taxes - Schedule of Income Tax Rate Reconciliation (Details) |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 22, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Income Tax Disclosure [Abstract] | ||||
| Computed tax benefit at federal statutory rate | 34.00% | 34.00% | 34.00% | |
| Research and development and other credits | 2.00% | (3.00%) | 2.00% | |
| Re-rate of federal net deferred tax assets | (38.00%) | 0.00% | 0.00% | |
| Permanent differences | (8.00%) | 2.00% | (4.00%) | |
| Change in valuation allowance | (32.00%) | (63.00%) | (34.00%) | |
| Establish deferred tax liability for OncoCyte shares at deconsolidation | 17.00% | 0.00% | 0.00% | |
| State tax benefit, net of effect on federal income taxes | 21.00% | 27.00% | 24.00% | 10.00% |
| Foreign rate differential | (2.00%) | 6.00% | (1.00%) | |
| Total | 0.00% | 0.00% | 7.00% | |
| X | ||||||||||
- Definition Establish deferred tax liability. No definition available.
|
| X | ||||||||||
- Definition Effective Income Tax Rate Reconciliation Permanent Differences No definition available.
|
| X | ||||||||||
- Definition Re-rate of federal net deferred tax assets. No definition available.
|
| X | ||||||||||
- Definition Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to tax credits. Including, but not limited to, research credit, foreign tax credit, investment tax credit, and other tax credits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Segment Information (Details Narrative) |
12 Months Ended |
|---|---|
|
Dec. 31, 2017
Segment
| |
| Segment Reporting [Abstract] | |
| Number of operating segments | 1 |
| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
- References No definition available.
|
Enterprise-Wide Disclosures (Details Narrative) - Life Map Sciences [Member] - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Payment received from research project | $ 1,400 | $ 972 |
| Advertising revenue | 1,200 | 668 |
| Revenues of royalty and commission fees | $ 168 | $ 304 |
| X | ||||||||||
- Definition Revenue from the sale of advertising time (such as television and radio) or space (newspaper or magazine pages). May also include advertising, marketing and promotional services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of fees and commissions from financial services and banking activities and correspondent clearing. Includes fees from depositor accounts, credit cards, merchant discounts, and fiduciary and trust activities, guarantee fees, investment advisory, management, and administrative fees, transfer agent fees, and insurance commissions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Cash received from grantors during the current period related to operating activities. This element represents receipts from a guarantor for the amount of guarantee provided. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
Enterprise-Wide Disclosures - Schedule of Geographic Area Information (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
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| Total revenues | $ 945 | $ 1,636 | $ 376 | $ 333 | $ 1,103 | $ 1,441 | $ 1,171 | $ 1,848 | $ 3,458 | $ 5,923 | $ 7,036 | ||||||||||
| Long-lived assets | 5,533 | [1] | 5,529 | [2] | 5,533 | [1] | 5,529 | [2] | |||||||||||||
| United States [Member] | |||||||||||||||||||||
| Total revenues | 1,651 | 4,497 | 5,976 | ||||||||||||||||||
| Foreign [Member] | |||||||||||||||||||||
| Total revenues | [3] | 1,807 | 1,426 | $ 1,060 | |||||||||||||||||
| Long-lived assets | 2,787 | [1] | 2,111 | [2] | 2,787 | [1] | 2,111 | [2] | |||||||||||||
| Domestic [Member] | |||||||||||||||||||||
| Long-lived assets | $ 2,746 | [1] | $ 3,418 | [2] | $ 2,746 | [1] | $ 3,418 | [2] | |||||||||||||
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- Definition Long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Enterprise-Wide Disclosures - Schedule of Sources of Revenues (Details) |
12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
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| CIRM Grant Income [Member] | ||||||||||
| Percentage of total revenues | [1] | 0.00% | 38.00% | 42.70% | ||||||
| NIH Grant Income [Member] | ||||||||||
| Percentage of total revenues | [2] | 5.00% | 0.00% | 6.50% | ||||||
| IIA (formerly OCS) Grant Income (Cell Cure, Israel) [Member] | ||||||||||
| Percentage of total revenues | 43.20% | 24.00% | 14.40% | |||||||
| Subscriptions, Advertising and Other (various customers) [Member] | ||||||||||
| Percentage of total revenues | [3] | 49.40% | 35.00% | 29.40% | ||||||
| Other [Member] | ||||||||||
| Percentage of total revenues | 2.40% | 3.00% | 7.00% | |||||||
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- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Enterprise-Wide Disclosures - Schedule of Sources of Revenues (Details) (Parenthetical) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Sales Revenue, Net [Member] | Customer [Member] | |||
| Concentration risk percentage | 5.00% | 5.00% | 5.00% |
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- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Selected Quarterly Financial Information (Unaudited) - Schedule of Selected Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Quarterly Financial Information Disclosure [Abstract] | |||||||||||
| Revenues, net | $ 945 | $ 1,636 | $ 376 | $ 333 | $ 1,103 | $ 1,441 | $ 1,171 | $ 1,848 | $ 3,458 | $ 5,923 | $ 7,036 |
| Operating expenses | 10,508 | 11,149 | 10,694 | 11,595 | 12,356 | 10,996 | 15,574 | 25,606 | 43,946 | 64,532 | 71,738 |
| Loss from operations | (9,563) | (9,513) | (8,564) | (11,262) | (11,253) | (9,555) | (14,403) | (23,758) | (38,902) | (58,967) | (65,809) |
| Net income (loss) attributable to BioTime | $ (71,934) | $ 14,321 | $ (11,651) | $ 49,288 | $ (4,945) | $ 31,199 | $ 24,549 | $ (17,112) | $ (19,976) | $ 33,572 | $ (46,991) |
| Basic net income (loss) per share | $ (0.58) | $ 0.12 | $ (0.11) | $ 0.46 | $ (0.05) | $ 0.30 | $ 0.26 | $ (0.19) | $ (0.17) | $ 0.35 | $ (0.59) |
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- References No definition available.
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| X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events (Details Narrative) - Lease Agreement [Member] - Subsequent Event [Member] |
Feb. 28, 2018
USD ($)
Integer
$ / shares
shares
|
Jan. 28, 2018
USD ($)
ft²
m²
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Jan. 28, 2018
ILS (₪)
ft²
m²
|
|---|---|---|---|
| Additional area of land | m² | 934 | 934 | |
| Area of land | ft² | 10,054 | 10,054 | |
| Lease expiration date | Dec. 31, 2025 | Dec. 31, 2025 | |
| Extended lease term | 5 years | 5 years | |
| Lease expenses | $ | $ 27,000 | ||
| AgeX [Member] | |||
| Warrant to purchase common stock | shares | 1,473,600 | ||
| Warrant exercise price | $ / shares | $ 0.50 | ||
| Proceeds from warrants | $ | $ 736,800 | ||
| Warrant exercisable price | $ / shares | $ 2.50 | ||
| AgeX [Member] | January 31, 2019 [Member] | |||
| Common stock exercise price | $ / shares | $ 3.75 | ||
| Number of trading days | Integer | 20 | ||
| NIS [Member] | |||
| Lease expenses | ₪ | ₪ 93,470 | ||
| Maximum [Member] | |||
| Leasehold improvement construction allowance | $ | $ 1,200,000 | ||
| Maximum [Member] | NIS [Member] | |||
| Leasehold improvement construction allowance | ₪ | ₪ 4,000,000 |
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- Definition Additional area of land. No definition available.
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- Definition Extended lease term. No definition available.
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- Definition Warrant exercisable price. No definition available.
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- Definition Cash inflow due to change during the period in the allowance for other funds used during construction classified as an investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Area of land held. No definition available.
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- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Threshold number of specified trading days that common stock price to conversion price of convertible debt instruments must exceed threshold percentage within a specified consecutive trading period to trigger conversion feature. No definition available.
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- Definition Date which lease or group of leases is set to expire, in CCYY-MM-DD format. No definition available.
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction. No definition available.
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