Document and Entity Information (USD $)
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12 Months Ended | ||
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Dec. 31, 2012
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Mar. 27, 2013
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Jun. 30, 2012
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Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2012 | ||
Document Fiscal Year Focus | 2012 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | GALT | ||
Entity Registrant Name | GALECTIN THERAPEUTICS INC | ||
Entity Central Index Key | 0001133416 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 16,109,090 | ||
Entity Public Float | $ 29,900,000 |
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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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- Details
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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
Undesignated Capital Stock, Value No definition available.
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- 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
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- 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
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. 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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- Details
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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
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
Cumulative net losses reported during the development stage. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. 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
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. 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
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- 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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- Details
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- 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
The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets 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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X | ||||||||||
- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived 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, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. 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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- Details
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X | ||||||||||
- Definition
Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer. No definition available.
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- Definition
Undesignated Capital Stock, No Par Value No definition available.
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X | ||||||||||
- Definition
Undesignated Capital Stock, Shares Authorized No definition available.
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X | ||||||||||
- Definition
Undesignated Capital Stock, Shares, Outstanding No definition available.
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X | ||||||||||
- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. 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
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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- Definition
The aggregate liquidation preference (or restrictions) of stock classified as temporary equity that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount to be paid by the entity upon redemption of the security that is classified as temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The maximum number of securities classified as temporary equity that are permitted to be issued by an entity's charter and bylaws. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The number of securities classified as temporary equity that have been sold (or granted) to the entity's shareholders. Securities issued include securities outstanding and securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The number of securities classified as temporary equity that have been issued and are held by the entity's shareholders. Securities outstanding equals securities issued minus securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | 150 Months Ended | |
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2012
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Operating expenses: | |||
Research and development | $ 4,527 | $ 3,552 | $ 27,610 |
General and administrative | 5,372 | 6,857 | 47,036 |
Total operating expenses | 9,899 | 10,409 | 74,646 |
Total operating loss | (9,899) | (10,409) | (74,646) |
Other income (expense): | |||
Interest income | 24 | 18 | 818 |
Interest expense | (4,451) | ||
Change in fair value of convertible debt instrument | (3,426) | ||
Change in fair value of warrant liabilities | (524) | 9,022 | |
Other income | 200 | 691 | |
Total other income (expense) | 224 | (506) | 2,654 |
Net loss | (9,675) | (10,915) | (71,992) |
Preferred stock dividends | (976) | (1,568) | (4,235) |
Preferred stock accretion | (230) | (230) | (4,045) |
Net loss applicable to common stockholders | $ (10,881) | $ (12,713) | $ (80,272) |
Basic and diluted net loss per share | $ (0.72) | $ (1.06) | |
Shares used in computing basic and diluted net loss per share | 15,131 | 11,986 |
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- Definition
Change in fair value of warrant No definition available.
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X | ||||||||||
- Definition
Unrealized Gain (Loss) In Debt Instrument Fair Value No definition available.
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X | ||||||||||
- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or 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. 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
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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
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- Details
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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.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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X | ||||||||||
- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of accretion of the preferred stock redemption discount during the period. No definition available.
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X | ||||||||||
- Definition
The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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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
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X | ||||||||||
- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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Consolidated Statement Of Changes In Redeemable Convertible Preferred Stock And Stockholders' Equity (Deficit) (USD $)
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Total
USD ($)
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Issuance During Period 1st
USD ($)
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Issuance During Period 1st
Notes Payable
USD ($)
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Issuance During Period 1st
Convertible Notes Payable
USD ($)
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Issuance During Period 1st
Employee Stock Option
USD ($)
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Issuance During Period 2nd
USD ($)
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Issuance During Period 2nd
Convertible Notes Payable
USD ($)
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Issuance During Period 2nd
Cash
USD ($)
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Issuance During Period 2nd
Private Placement
USD ($)
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Issuance During Period 3rd
USD ($)
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Issuance During Period 3rd
Private Placement
USD ($)
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Issuance During Period 4th
Notes Payable
USD ($)
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Issuance During Period 5th
Private Placement
USD ($)
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Issuance During Period 6th
Consulting Services
USD ($)
|
Issuance During Period 7th
Accrued Liabilities
USD ($)
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Issuance During Period 8th
Private Placement
USD ($)
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Issuance During Period 9th
Private Placement
USD ($)
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Issuance During Period 10th
Private Placement
USD ($)
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Issuance During Period 11th
Private Placement
USD ($)
|
Issuance During Period 12th
Cash
USD ($)
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Issuance During Period 14th
USD ($)
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Series A 12% Convertible Preferred Stock
USD ($)
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Series A 12% Convertible Preferred Stock
Issuance During Period 1st
Private Placement
USD ($)
|
Series B-1 12% Redeemable Convertible Preferred Stock
|
Series B-1 12% Redeemable Convertible Preferred Stock
Transaction 01
USD ($)
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Series B-1 12% Redeemable Convertible Preferred Stock
Issuance During Period 2nd
USD ($)
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Series B-2 12% Redeemable Convertible Preferred Stock
|
Series B-2 12% Redeemable Convertible Preferred Stock
Transaction 02
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
Transaction 03
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
Issuance During Period 3rd
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
Period 1
USD ($)
|
Series C Super Dividend Convertible Preferred Stock
USD ($)
|
Series C Super Dividend Convertible Preferred Stock
Issuance During Period 4th
USD ($)
|
Series B Preferred Stock
USD ($)
|
Consultant
USD ($)
|
Common Stock
USD ($)
|
Common Stock
Issuance During Period 1st
|
Common Stock
Issuance During Period 1st
Notes Payable
|
Common Stock
Issuance During Period 1st
Employee Stock Option
|
Common Stock
Issuance During Period 2nd
USD ($)
|
Common Stock
Issuance During Period 2nd
Cash
|
Common Stock
Issuance During Period 3rd
USD ($)
|
Common Stock
Issuance During Period 3rd
Private Placement
USD ($)
|
Common Stock
Issuance During Period 4th
Notes Payable
|
Common Stock
Issuance During Period 5th
Private Placement
|
Common Stock
Issuance During Period 6th
Consulting Services
|
Common Stock
Issuance During Period 7th
Accrued Liabilities
|
Common Stock
Issuance During Period 8th
Private Placement
USD ($)
|
Common Stock
Issuance During Period 9th
Private Placement
|
Common Stock
Issuance During Period 10th
Private Placement
|
Common Stock
Issuance During Period 11th
Private Placement
USD ($)
|
Common Stock
Issuance During Period 12th
Cash
USD ($)
|
Common Stock
Issuance During Period 14th
USD ($)
|
Common Stock
Series A 12% Convertible Preferred Stock
|
Common Stock
Series B-1 12% Redeemable Convertible Preferred Stock
|
Common Stock
Series B-2 12% Redeemable Convertible Preferred Stock
|
Common Stock
Series C Super Dividend Convertible Preferred Stock
|
Common Stock
Series C Super Dividend Convertible Preferred Stock
Issuance During Period 4th
|
Common Stock
Consultant
|
Additional Paid-In Capital
USD ($)
|
Additional Paid-In Capital
Issuance During Period 1st
USD ($)
|
Additional Paid-In Capital
Issuance During Period 1st
Notes Payable
USD ($)
|
Additional Paid-In Capital
Issuance During Period 1st
Convertible Notes Payable
USD ($)
|
Additional Paid-In Capital
Issuance During Period 1st
Employee Stock Option
USD ($)
|
Additional Paid-In Capital
Issuance During Period 2nd
USD ($)
|
Additional Paid-In Capital
Issuance During Period 2nd
Convertible Notes Payable
USD ($)
|
Additional Paid-In Capital
Issuance During Period 2nd
Cash
USD ($)
|
Additional Paid-In Capital
Issuance During Period 2nd
Private Placement
USD ($)
|
Additional Paid-In Capital
Issuance During Period 3rd
USD ($)
|
Additional Paid-In Capital
Issuance During Period 3rd
Private Placement
USD ($)
|
Additional Paid-In Capital
Issuance During Period 4th
Notes Payable
USD ($)
|
Additional Paid-In Capital
Issuance During Period 5th
Private Placement
USD ($)
|
Additional Paid-In Capital
Issuance During Period 6th
Consulting Services
USD ($)
|
Additional Paid-In Capital
Issuance During Period 7th
Accrued Liabilities
USD ($)
|
Additional Paid-In Capital
Issuance During Period 8th
Private Placement
USD ($)
|
Additional Paid-In Capital
Issuance During Period 9th
Private Placement
USD ($)
|
Additional Paid-In Capital
Issuance During Period 10th
Private Placement
USD ($)
|
Additional Paid-In Capital
Issuance During Period 11th
Private Placement
USD ($)
|
Additional Paid-In Capital
Issuance During Period 12th
Cash
USD ($)
|
Additional Paid-In Capital
Issuance During Period 14th
USD ($)
|
Additional Paid-In Capital
Series A 12% Convertible Preferred Stock
USD ($)
|
Additional Paid-In Capital
Series B-1 12% Redeemable Convertible Preferred Stock
USD ($)
|
Additional Paid-In Capital
Series B-1 12% Redeemable Convertible Preferred Stock
Issuance During Period 2nd
USD ($)
|
Additional Paid-In Capital
Series B-2 12% Redeemable Convertible Preferred Stock
USD ($)
|
Additional Paid-In Capital
Series B-2 12% Redeemable Convertible Preferred Stock
Issuance During Period 3rd
USD ($)
|
Additional Paid-In Capital
Series B-2 12% Redeemable Convertible Preferred Stock
Period 1
USD ($)
|
Additional Paid-In Capital
Series C Super Dividend Convertible Preferred Stock
USD ($)
|
Additional Paid-In Capital
Series C Super Dividend Convertible Preferred Stock
Issuance During Period 4th
USD ($)
|
Additional Paid-In Capital
Consultant
USD ($)
|
Series A 12% Convertible Preferred Stock
USD ($)
|
Series A 12% Convertible Preferred Stock
USD ($)
|
Series A 12% Convertible Preferred Stock
Issuance During Period 1st
Private Placement
USD ($)
|
Deficit Accumulated During the Development Stage
USD ($)
|
Deficit Accumulated During the Development Stage
Series A 12% Convertible Preferred Stock
USD ($)
|
Deficit Accumulated During the Development Stage
Series B-1 12% Redeemable Convertible Preferred Stock
USD ($)
|
Deficit Accumulated During the Development Stage
Series B-1 12% Redeemable Convertible Preferred Stock
Transaction 01
USD ($)
|
Deficit Accumulated During the Development Stage
Series B-2 12% Redeemable Convertible Preferred Stock
USD ($)
|
Deficit Accumulated During the Development Stage
Series B-2 12% Redeemable Convertible Preferred Stock
Transaction 02
USD ($)
|
Deficit Accumulated During the Development Stage
Series B-2 12% Redeemable Convertible Preferred Stock
Transaction 03
USD ($)
|
Deficit Accumulated During the Development Stage
Series C Super Dividend Convertible Preferred Stock
USD ($)
|
Deficit Accumulated During the Development Stage
Series B Preferred Stock
USD ($)
|
Series B-1 12% Redeemable Convertible Preferred Stock
USD ($)
|
Series B-1 12% Redeemable Convertible Preferred Stock
Transaction 01
USD ($)
|
Series B-1 12% Redeemable Convertible Preferred Stock
Issuance During Period 2nd
USD ($)
|
Series B-1 12% Redeemable Convertible Preferred Stock
Series B Preferred Stock
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
Transaction 02
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
Transaction 03
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
Issuance During Period 3rd
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
Period 1
USD ($)
|
Series B-2 12% Redeemable Convertible Preferred Stock
Series B Preferred Stock
USD ($)
|
Series C Super Dividend Convertible Preferred Stock
USD ($)
|
Series C Super Dividend Convertible Preferred Stock
USD ($)
|
Series C Super Dividend Convertible Preferred Stock
Issuance During Period 4th
USD ($)
|
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Balance at Jul. 10, 2000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock and warrants, net of issuance costs of $1,597,000 in 2012 and $17,000 in 2001 (in shares) | 114,884 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock and warrants, net of issuance costs of $1,597,000 in 2012 and $17,000 in 2001 | $ 2,221,000 | $ 2,221,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares related to reverse split of common stock | 3,324 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of restricted common stock | 454,167 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of restricted common stock | 1,000 | (1,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants | 3,419,570 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants | 14,307,000 | 3,000 | 14,304,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options | 2,772 | 398,937 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options | 74,000 | 362,000 | 1,000 | 74,000 | 361,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 11,635,000 | 11,635,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (71,992,000) | (71,992,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of founders shares July 10, 2000 (in shares) | 2,059,112 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of founders shares July 10, 2000 | 9,000 | 2,000 | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred stock dividend (in shares) | 160,330 | 298,807 | 568,721 | 63,119 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred stock dividend | (47,000) | (33,000) | 875,000 | 1,034,000 | 2,022,000 | 224,000 | (922,000) | (1,034,000) | (2,022,000) | (257,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature | 222,000 | 1,016,000 | 222,000 | 1,016,000 | (1,016,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock and beneficial conversion feature related to convertible note in 2001 (in shares) | 110,054 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock and beneficial conversion feature related to convertible note in 2001 | 1,036,000 | 1,036,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with reverse merger of Pro-Pharmaceuticals-NV in 2001 (in shares) | 203,649 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with reverse merger of Pro-Pharmaceuticals-NV in 2001 | 107,000 | 107,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock (in shares) | 99,705 | 31,000 | 537,227 | 17,647 | 181,334 | 2,042 | 33,618 | 399,917 | 219,096 | 206,019 | 333,334 | 1,250,000 | 2,666,722 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock | 1,126,000 | 602,000 | 2,861,000 | 290,000 | 1,070,000 | 12,000 | 302,000 | 4,410,000 | 1,319,000 | 1,898,000 | 490,000 | 1,044,000 | 10,403,000 | 1,000 | 1,000 | 1,000 | 1,000 | 3,000 | 1,126,000 | 602,000 | 2,860,000 | 290,000 | 1,070,000 | 12,000 | 302,000 | 4,409,000 | 1,319,000 | 1,898,000 | 489,000 | 1,043,000 | 10,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock Warrants | 503,000 | 236,000 | 261,000 | 20,000 | 503,000 | 236,000 | 261,000 | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receipt of subscription receivable | 150,000 | 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassification of Warrant Liabilities | 3,193,000 | 3,193,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation relating to issuance of stock options | 455,000 | 455,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock compensation expense related to fair market revaluation | 157,000 | 157,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock compensation related to the issuance of common shares (in shares) | 12,515 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock compensation related to the issuance of common shares | 53,000 | 53,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cumulative effect of adoption of new accounting principle | (204,000) | (458,000) | 254,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of redeemable convertible preferred stock | (1,303,000) | (2,057,000) | (685,000) | (1,303,000) | (2,057,000) | (685,000) | 1,303,000 | 2,057,000 | 685,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of redeemable convertible preferred stock (in shares) | 1,742,500 | 900,000 | 2,100,000 | 225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of redeemable convertible preferred stock | 704,000 | 1,105,000 | 2,761,000 | 1,105,000 | 2,761,000 | 704,000 | 395,000 | 1,174,000 | 2,203,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued in conversion of convertible securities (in shares) | 79,367 | 1,227,972 | 867,558 | 30,000 | 8,334 | (180,000) | (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued in conversion of convertible securities | 1,745,000 | 3,948,000 | 5,330,000 | 49,000 | 1,000 | 1,000 | 1,745,000 | 3,947,000 | 5,329,000 | 72,000 | 49,000 | (72,000) | (49,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2012 | 1,165,000 | 16,000 | 80,535,000 | 632,000 | (80,018,000) | 1,698,000 | 2,154,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (in shares) at Dec. 31, 2012 | 16,060,853 | 1,562,500 | 900,000 | 220 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2009 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock (in shares) | 770,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2010 | (1,694,000) | 11,000 | 54,075,000 | 644,000 | (56,424,000) | 1,664,000 | 2,474,000 | 2,073,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (in shares) at Dec. 31, 2010 | 10,651,535 | 1,592,500 | 900,000 | 2,100,000 | 212 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of beneficial conversion feature for Series B-2 | (54,000) | (54,000) | 54,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of restricted common stock | 20,834 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants | 1,771,383 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants | 7,218,000 | 2,000 | 7,216,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options | 216,443 | 216,440 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options | 234,000 | 234,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 3,245,000 | 3,245,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (10,915,000) | (10,915,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred stock dividend (in shares) | 30,321 | 59,588 | 139,037 | 17,066 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred stock dividend | 1,000 | (33,000) | 180,000 | 378,000 | 881,000 | 97,000 | (179,000) | (378,000) | (881,000) | (130,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock (in shares) | 13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock | 130,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of redeemable convertible preferred stock | (176,000) | (176,000) | 17,000 | 159,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued in conversion of convertible securities (in shares) | 5,000 | 8,334 | (30,000) | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued in conversion of convertible securities | 49,000 | 12,000 | 49,000 | (12,000) | (49,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2011 | (2,125,000) | 13,000 | 66,367,000 | 632,000 | (69,137,000) | 1,681,000 | 2,687,000 | 2,154,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (in shares) at Dec. 31, 2011 | 12,919,538 | 1,562,500 | 900,000 | 2,100,000 | 220 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of beneficial conversion feature for Series B-2 | (56,000) | (56,000) | 56,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock and warrants, net of issuance costs of $1,597,000 in 2012 and $17,000 in 2001 (in shares) | 2,666,722 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock and warrants, net of issuance costs of $1,597,000 in 2012 and $17,000 in 2001 | 10,403,000 | 3,000 | 10,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares related to reverse split of common stock | 3,324 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants | 12,177 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options | 51,830 | 51,830 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 2,766,000 | 2,766,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (9,675,000) | (9,675,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred stock dividend (in shares) | 31,250 | 95,584 | 223,027 | 46,053 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred stock dividend | (123,000) | 103,000 | 224,000 | 522,000 | 127,000 | (103,000) | (224,000) | (522,000) | (127,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock (in shares) | 11,348 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock | 68,800,000 | 26,000 | 26,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of redeemable convertible preferred stock | (174,000) | (174,000) | 17,000 | 157,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2012 | $ 1,165,000 | $ 16,000 | $ 80,535,000 | $ 632,000 | $ (80,018,000) | $ 1,698,000 | $ 2,900,000 | $ 2,154,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (in shares) at Dec. 31, 2012 | 16,060,853 | 1,562,500 | 900,000 | 2,100,000 | 220 |
X | ||||||||||
- Definition
Accretion on redeemable convertible preferred stock. No definition available.
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X | ||||||||||
- Definition
Adjustments To Additional Paid In Capital Deferred Compensation No definition available.
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X | ||||||||||
- Definition
Cumulative Effect of Initial Adoption of New Accounting Principle, Gross No definition available.
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X | ||||||||||
- Definition
Issuance Of Common Stock And Warrants, Shares No definition available.
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X | ||||||||||
- Definition
Value of issuance of common stock and warrants. No definition available.
|
X | ||||||||||
- Definition
Issuance Of Redeemable Preferred Stock, Shares No definition available.
|
X | ||||||||||
- Definition
Issuance Of Redeemable Preferred Stock Value No definition available.
|
X | ||||||||||
- Definition
Reclassification of Warrants to a Liability No definition available.
|
X | ||||||||||
- Definition
Stock-based Compensation Expense. No definition available.
|
X | ||||||||||
- Definition
Stock Issued During Period Shares Conversion Or Exchange Of Convertible Securities No definition available.
|
X | ||||||||||
- Definition
Stock Issued During Period, Shares, Founders No definition available.
|
X | ||||||||||
- Definition
Number of shares of stock issued during the period pursuant to a merger. No definition available.
|
X | ||||||||||
- Definition
Number of shares issued during the period as a result of the exercise of warrants. No definition available.
|
X | ||||||||||
- Definition
Stock Issued During Period Value Conversion Or Exchange Of Convertible Securities No definition available.
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X | ||||||||||
- Definition
Stock Issued During Period, Value, Founders No definition available.
|
X | ||||||||||
- Definition
Value of stock issued pursuant to a merger during the period. 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 Of Beneficial Conversion Feature Of Preferred Stock No definition available.
|
X | ||||||||||
- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Increase in additional paid in capital due to warrants issued during the period. Includes also the proceeds of debt securities issued with detachable stock purchase warrants that are allocable to the warrants. These warrants qualify for equity classification and provide the holder with a right to purchase stock from the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
X | ||||||||||
- Definition
Number of shares of preferred stock issued as dividends during the period. Excludes stock splits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares issued and outstanding as of the balance sheet date. 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 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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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 new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Reduction in the number of shares during the period as a result of a reverse stock split. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. 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
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 related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. 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
Revenue from circulation or sale of subscriptions (for example, but not limited to, subscriptions to a magazine or newspaper). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of accretion of temporary equity to its redemption value during the period. This item is an adjustment to net income necessary to derive net income apportioned to common stockholders and is to be distinguished from Temporary Equity, Accretion to Redemption Value (TemporaryEquityAccretionToRedemptionValue). No definition available.
|
Consolidated Statement Of Changes In Redeemable Convertible Preferred Stock And Stockholders' Equity (Deficit) (Parenthetical) (USD $)
|
12 Months Ended | 150 Months Ended |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2012
|
|
Issuance of stock, issuance costs | $ 1,597,000 | $ 17,000 |
Issuance During Period 14th
|
||
Issuance of stock, issuance costs | 1,597,000 | |
Series B-1 12% Redeemable Convertible Preferred Stock | Issuance During Period 2nd
|
||
Issuance of stock, issuance costs | 300,000 | |
Series B-2 12% Redeemable Convertible Preferred Stock | Issuance During Period 3rd
|
||
Issuance of stock, issuance costs | 188,000 | |
Series C Super Dividend Convertible Preferred Stock | Issuance During Period 4th
|
||
Issuance of stock, issuance costs | 47,000 | |
Cash | Issuance During Period 2nd
|
||
Issuance of stock, issuance costs | 49,000 | |
Cash | Issuance During Period 12th
|
||
Issuance of stock, Date | Feb. 25, 2008 | |
Issuance of stock, issuance costs | 369,000 | |
Private Placement | Issuance During Period 3rd
|
||
Issuance of stock, issuance costs | 212,000 | |
Private Placement | Issuance During Period 5th
|
||
Issuance of stock, issuance costs | 18,000 | |
Private Placement | Issuance During Period 8th
|
||
Issuance of stock, issuance costs | 128,000 | |
Private Placement | Issuance During Period 9th
|
||
Issuance of stock, issuance costs | 559,000 | |
Private Placement | Issuance During Period 10th
|
||
Issuance of stock, issuance costs | 466,000 | |
Private Placement | Issuance During Period 11th
|
||
Issuance of stock, issuance costs | 485,000 | |
Private Placement | Series A 12% Convertible Preferred Stock | Issuance During Period 1st
|
||
Issuance of stock, Date | Feb. 04, 2008 | |
Issuance of stock, issuance costs | $ 52,000 |
X | ||||||||||
- Definition
Stock Issuance Costs No definition available.
|
X | ||||||||||
- Definition
Date of equity securities issuance, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cashless Exercise of Stock Options and Warrants No definition available.
|
X | ||||||||||
- Definition
Change in fair value of warrant No definition available.
|
X | ||||||||||
- Definition
Conversion Of Accrued Liabilities To Common Stock No definition available.
|
X | ||||||||||
- Definition
Issuance of equity warrants in connection with equity offerings No definition available.
|
X | ||||||||||
- Definition
Issuance of warrants to induce conversion of notes payable No definition available.
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options and warrants. No definition available.
|
X | ||||||||||
- Definition
Supplemental Dividends on ESOP convertible preferred stock No definition available.
|
X | ||||||||||
- Definition
Unrealized Gain (Loss) In Debt Instrument Fair Value No definition available.
|
X | ||||||||||
- Details
|
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. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "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 original debt being converted in a noncash (or part noncash) transaction. "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 current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of an intangible asset (excluding goodwill) to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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 | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other amounts due to the reporting entity, which are not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
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
|
X | ||||||||||
- Definition
Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added 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
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
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
|
X | ||||||||||
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from issuance of preferred stocks identified as being convertible into another form of financial instrument, typically the entity's common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from issuance of callable preferred stock which is identified as being convertible to another type of financial security at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow from the repayment 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
|
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
|
X | ||||||||||
- Definition
The fair value of stock issued in noncash financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Nature of Business and Basis of Presentation
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2012
|
|||
Nature of Business and Basis of Presentation |
Galectin Therapeutics Inc. (the “Company”) is a development-stage company that is applying its leadership in galectin science and drug development to create new therapies for fibrotic disease and cancer. These candidates are based on the Company’s targeting of galectin proteins which are key mediators of biologic and pathologic function. These compounds also may have application for drugs to treat other diseases and chronic health conditions. On March 23, 2012, the Company effected a one-for-six reverse stock split. All common share and per share amounts in these financial statements have been adjusted to reflect the effect of the reverse split. On March 28, 2012, the Company sold 2,666,722 shares of common stock and related $5.63 warrants to purchase 1,333,361 shares of common stock for gross proceeds of $12,000,000 (net proceeds of $10,403,000). See Note 6, for further discussion of the transaction. The Company has operated at a loss since its inception and has had no significant revenues. The Company anticipates that losses will continue for the foreseeable future. At December 31, 2012, the Company had $9,364,000 of unrestricted cash and cash equivalents available to fund future operations. The Company believes that with the cash on hand at December 31, 2012, there is sufficient cash to fund operations through the first quarter of 2014. The Company’s ability to fund operations after its current cash resources are exhausted depends on its ability to obtain additional financing or achieve profitable operations, as to which no assurances can be given. The Company has developed several plans, including cost containment efforts and potential strategic alternatives in the event that such financing cannot be realized by the Company. Accordingly, based on the forecasts and estimates underlying the Company’s current operating plan, the financial statements do not currently include any adjustments that might be necessary if the Company is unable to continue as a going concern. As shown in the consolidated financial statements, the Company incurred cumulative net losses applicable to common stockholders of $80.3 million for the cumulative period from inception (July 10, 2000) through December 31, 2012. The Company’s net losses have resulted principally from costs associated with (i) research and development expenses, including clinical trial costs, (ii) general and administrative activities and (iii) the Company’s financing transactions including interest, dividend payments, and the costs related to fair value accounting for the Company’s convertible debt instruments. As a result of planned expenditures for future research, discovery, development and commercialization activities and potential legal cost to protect its intellectual property, the Company expects to incur additional losses and use additional cash in its operations for the foreseeable future. Through December 31, 2012, the Company had raised a net total of $68.8 million in capital through sale and issuance of common stock, common stock purchase warrants, convertible preferred stock and debt securities in public and private offerings. From inception (July 10, 2000) through December 31, 2012, the Company used cash of $58.6 million in its operations. The Company was founded in July 2000, was incorporated in the State of Nevada in January 2001 under the name “Pro-Pharmaceuticals, Inc.,” and changed its name to “Galectin Therapeutics Inc.” on May 26, 2011. On March 23, 2012, the Company began trading on The NASDAQ Capital Market under the symbol GALT. Prior to March 23, 2012, the Company was traded on the Over-the Counter Bulletin Board (“OTCBB”) under the symbol GALT.OB (previously PRWP.OB) from January 21, 2009 to March 22, 2012 after the Company was delisted from the NYSE Alternext US (“Exchange”), formerly the American Stock Exchange, due to non-compliance with the Exchange minimum shareholders’ equity requirements on January 9, 2009.
The Company is subject to a number of risks similar to those of other development-stage companies, including dependence on key individuals, uncertainty of product development and generation of revenues, dependence on outside sources of capital, risks associated with clinical trials of products, dependence on third-party collaborators for research operations, need for regulatory approval of products, risks associated with protection of intellectual property, and competition with larger, better-capitalized companies. Successful completion of the Company’s development program and, ultimately, the attainment of profitable operations is dependent upon future events, including obtaining adequate financing to fulfill its development activities and achieving a level of revenues adequate to support the Company’s cost structure. There are no assurances that the Company will be able to obtain additional financing on favorable terms, or at all, or successfully market its products. |
X | ||||||||||
- Definition
The entire disclosure for the basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
|
Summary of Significant Accounting Policies
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2012
|
|||
Summary of Significant Accounting Policies |
The accompanying consolidated financial statements reflect the application of certain accounting policies, as described in this note and elsewhere in the accompanying notes to the consolidated financial statements. Basis of Consolidation. The consolidated financial statements include the accounts of the Company and Galectin Therapeutics Security Corp., its wholly-owned subsidiary, which was incorporated in Delaware on December 23, 2003. Galectin Therapeutics Security Corp. holds the cash and cash equivalents that are not required to fund current operating needs. All intercompany transactions have been eliminated. Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and judgments that may affect the reported amounts of assets, liabilities, equity, revenue, expenses and related disclosure of contingent assets and liabilities. Management’s estimates and judgments include assumptions used in stock option and warrant liability valuations, useful lives of property and equipment and intangible assets, accrued liabilities, deferred income taxes and various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions. Fair Value Measurements. The Company has certain financial assets and liabilities recorded at fair value. Fair values determined by Level 1 inputs utilize observable data such as quoted prices in active markets. Fair values determined by Level 2 inputs utilize data points other than quoted prices in active markets that are observable either directly or indirectly. Fair values determined by Level 3 inputs utilize unobservable data points in which there is little or no market data, which require the reporting entity to develop its own assumptions. The estimated value of accounts payable and accrued expenses approximates their carrying value due to their short-term nature using level 3 inputs as defined above. Included in cash and cash equivalents, as of December 31, 2012 and 2011, the Company had $583,000 and $6,123,000, respectively, invested in money market funds which had calculated net asset values and were therefore classified as Level 2. Cash and Cash Equivalents. The Company considers all highly-liquid investments with original maturities of 90 days or less at the time of acquisition to be cash equivalents. Prepaid Expenses and Other Current Assets. Prepaid expenses and other assets consist principally of prepaid insurance and prepaid rent on the Company’s leased executive office space. Property and Equipment. Property and equipment, including leasehold improvements, are stated at cost, net of accumulated depreciation, and are depreciated using the straight-line method over the estimated useful lives of the related assets of generally three years for computers and office equipment, five years for furniture and fixtures and the shorter of the useful life or life of the lease for leasehold improvements.
Restricted Cash and Security Deposit. Restricted cash consists of security deposits principally for a real estate lease at December 31, 2011. At December 31, 2012, the Company had a security deposit of $6,000 for leased office space. Intangible Assets. Intangible assets include patent costs, consisting primarily of related capitalized legal fees, which are amortized over an estimated useful life of five years from issuance. Amortization expense in 2012 and 2011 was $6,000 and $3,000, respectively. Gross intangible assets at December 31, 2012 and 2011 totaled $78,000 each year, and accumulated amortization at December 31, 2012 and 2011 totaled $48,000 and $42,000, respectively. Long-Lived Assets. The Company reviews all long-lived assets for impairment whenever events or circumstances indicate the carrying amount of such assets may not be recoverable. Recoverability of assets to be held or used is measured by comparison of the carrying value of the asset to the future undiscounted net cash flows expected to be generated by the asset. If such asset is considered to be impaired, the impairment recognized is measured by the amount by which the carrying value of the asset exceeds the discounted future cash flows expected to be generated by the asset. Warrants. The Company has issued common stock warrants in connection with the execution of certain equity and debt financings. Certain warrants were accounted for as derivative liabilities at fair value. Such warrants did not meet the accounting criteria that a contract should not be considered a derivative instrument if it is (1) indexed to its own stock and (2) classified in stockholders’ equity. Changes in fair value of derivative liabilities are recorded in the consolidated statement of operations under the caption “Change in fair value of warrant liabilities.” Warrants that are not considered derivative liabilities are accounted for at fair value at the date of issuance in additional paid-in capital. The fair value of warrants was determined using the Black-Scholes option-pricing model. There were no warrant liabilities as of December 31, 2012 or 2011. Revenue Recognition. The Company records revenue provided that there is persuasive evidence that an arrangement exists, the price is fixed and determinable, services were rendered and collectability is reasonably assured. Research and Development Expenses. Costs associated with research and development are expensed as incurred. Research and development expenses include, among other costs, salaries and other personnel-related costs, and costs incurred by outside laboratories and other accredited facilities in connection with clinical trials and preclinical studies. Income Taxes. The Company accounts for income taxes in accordance with the accounting rules that requires an asset and liability approach to accounting for income taxes based upon the future expected values of the related assets and liabilities. Deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and for tax loss and credit carry forwards, and are measured using the expected tax rates estimated to be in effect when such basis differences reverse. Valuation allowances are established, if necessary, to reduce the deferred tax asset to the amount that will, more likely than not, be realized. Comprehensive Income (Loss). Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The Company does not have any items of comprehensive income (loss) other than net losses as reported. Concentration of Credit Risk. Financial instruments that subject the Company to credit risk consist of cash and cash equivalents and certificates of deposit. The Company maintains cash and cash equivalents and certificates of deposit with well-capitalized financial institutions. At times, those amounts may exceed federally insured limits. The Company has no significant concentrations of credit risk. Stock-Based Compensation. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the service period, which generally represents the vesting period. For awards that have performance based vesting conditions the Company recognizes the expense over the estimated period that the awards are expected to be earned. The Company generally uses the Black-Scholes option-pricing model to calculate the grant date fair value of stock options. For options that only vest upon the achievement of market conditions, the Company values the options using a Monte Carlo model to calculate the grant date fair value of the stock options. The expense related to options that vest based on market conditions is not reversed should those options not ultimately vest. The expense recognized over the service period is required to include an estimate of the awards that will be forfeited. |
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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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Agreement with PROCAPS S.A. and Research Grants
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Dec. 31, 2012
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Agreement with PROCAPS S.A. and Research Grants |
Agreement with PROCAPS S.A. On March 25, 2010, the Company granted PROCAPS S.A. (“PROCAPS”) (in the form of a definitive term sheet) exclusive rights to market and sell GM-CT-01 (formerly DAVANAT®) to treat cancer in Colombia, South America. PROCAPS is an international, privately held pharmaceutical company based in Barranquilla, Colombia. In October 2010, the Company received a payment of $200,000 and shipped GM-CT-01 to PROCAPS to be used by PROCAPS to qualify its vial filling process and to replicate the Company’s stability study. The $200,000 payment from PROCAPS was included as deferred income on the condensed consolidated balance sheets as of December 31, 2011. On October 18, 2011, the Company entered into a Collaboration, Supply, Marketing and Distribution Agreement (the “Agreement”) with PROCAPS. The Agreement granted PROCAPS first negotiation rights to enter into similar agreements in other Central and South American countries. The Company was to be the sole manufacturer and supplier of GM-CT-01 to PROCAPS. The Agreement obligated PROCAPS to procure regulatory approvals necessary for the marketing and sale of GM-CT-01 naming the Company as the owner of such approvals to the extent permitted by law, or alternatively hold the approvals for the Company’s benefit. PROCAPS was to pay the Company a stated fee for each dose it purchased and royalties at an incremental rate determined by annual net sales of GM-CT-01. The Company retains all intellectual property rights to GM-CT-01 and related products and PROCAPS may not produce, modify, reverse engineer, or otherwise interfere with the GM-CT-01 compound. PROCAPS was not able to manufacture or sell products that compete with GM-CT-01 during the term of the Agreement and for five years thereafter. PROCAPS had not obtained approval to sell GM-CT-01 in Columbia as required by the Agreement and, as they were in material breach of the Agreement, the Company terminated the Agreement, effective September 29, 2012. With no further obligations, the Company recognized the $200,000 payment as Other Income in the Statements of Operations during the year ended December 31, 2012. Qualifying Therapeutic Discovery Project In October 2010, the Company was notified that it was awarded $489,000 total in two federal grants under the Qualifying Therapeutic Discovery Project (“QTDP”) Program for its GM-CT-01 anti-cancer compound and for its GR/GM-Series of anti-fibrotic, cirrhosis compounds for work performed during 2010 and 2009. The Company recognized this grant in other income in the statement of operations for the year ended December 31, 2010. The Company received $255,000 of the grant in 2010 and the remaining $234,000 was received in 2011. |
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- Definition
The entire disclosure for collaborative arrangements in which the entity is a participant, including a) information about the nature and purpose of such arrangements; b) its rights and obligations thereunder; c) the accounting policy for collaborative arrangements; and d) the income statement classification and amounts attributable to transactions arising from the collaborative arrangement between participants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property and Equipment
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Property and Equipment |
Property and equipment consists of the following at December 31:
Depreciation expense for the years ended December 31, 2012 and 2011 was $3,000 and $6,000, respectively. |
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- Definition
The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Expenses
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Accrued Expenses |
Accrued expenses consist of the following at December 31:
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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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Stockholders' Deficit
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Stockholders' Deficit |
At December 31, 2012, the Company had 50,000,000 shares of common stock and 20,000,000 undesignated shares authorized. As of December 31, 2012, 5,000,000 shares have been designated for Series A 12% Convertible Preferred Stock, 900,000 shares have been designated for Series B-1 Convertible Preferred Stock, 2,100,000 shares have been designated for Series B-2 Convertible Preferred Stock, 1,000 shares have been designated for Series C Super Dividend Convertible Preferred Stock and 11,999,000 remain undesignated. The Company has raised capital through a number of debt and equity financing transactions. The following provides a description of the Company’s equity financings and certain warrants issued in connection with such equity financings. 2001 Private Placement During 2001, the Company sold a total of 114,884 shares of common stock for proceeds of $2,221,000, net of $17,000 of issuance costs through a private placement of securities. In connection with this issuance, the Company issued 56,534 and 58,350 warrants to purchase common stock at $39.00 and $30.00 per share, respectively. The Company valued the warrants at $886,000, based on a fair market value of the Company’s common stock of $13.68 per share. These warrants expired unexercised in 2005. In August 2001, the Company offered warrants to holders of its outstanding convertible notes as an inducement to convert prior to the maturity of the notes. Holders representing $1,126,000 of the outstanding principal and accrued interest chose to convert at a conversion price of $12.00 per share and received 99,705 common shares and 93,801 warrants. These warrants have an exercise price of $39.00 per share and were immediately exercisable. The Company valued the warrants at $503,000 based on a fair market value of the Company’s common stock of $13.68 per share. The value of the warrants has been recorded as a debt conversion expense. These warrants expired unexercised in 2005. In 2002, the Company issued 18,334 warrants to the agents in connection with the 2001 offering. The warrants were exercisable immediately at an exercise price of $21.00 per share and have a 10 year life. The Company valued these warrants at $236,000 based on a deemed fair value of the Company’s common stock of $21.00 per share and recorded such value as interest expense in the statement of operations for the year ended December 31, 2002. These warrants expired unexercised in 2012. Public Offering On December 13, 2001, the Company commenced a public offering of common stock, at a price to the public of $21.00 per share. The Company concluded the offering on June 30, 2002. During 2002, the Company sold 31,000 shares of common stock in this offering for proceeds of $602,000, net of $49,000 of issuance costs. 2002 Private Placement In September 2002, the Company began a private placement (the “2002 Private Placement”) of up to 1,666,667 shares of common stock at $6.00 per share. As of December 31, 2002, the Company had sold 537,227 shares for proceeds of $2,861,000, net of issuance costs of $212,000 and stock subscription receivable of $150,000, which related to shares purchased but for which payment had not been received as of December 31, 2002. This offering was closed on January 14, 2003, although subsequent to year end the Company sold an additional 181,334 shares for additional proceeds of $1,070,000, net of $18,000 of offering costs. The Company compensated a registered investment adviser with respect to shares purchased by its clients. As of December 31, 2002, the adviser was entitled to receive 28,917 shares of common stock. The Company also agreed to compensate a finder registered under applicable law, and such finder’s agents, for identifying qualified investors. As of December 31, 2002, one of the finder’s agents was entitled to receive 125 shares of common stock. On January 14, 2003, the Company closed the 2002 Private Placement, at which point the Company agreed to issue the adviser an additional 417 shares, and the finder and its other agent an aggregate of 1,625 additional shares and $3,000 in cash in connection with the shares sold subsequent to December 31, 2002 and through the closing date. Shares placed by such registered adviser, finder and finder’s agent were accounted for as offering costs and valued at $6.00 per share, consistent with the price paid for the shares placed in the offering. Such offering costs were netted against the proceeds of the 2002 Private Placement. Since none of the 29,042 shares had been issued as of December 31, 2002, the Company recorded the obligation to issue such shares as offering costs payable. The additional 2,042 shares issued in January 2003 were also valued at $6.00 per share and included in the $18,000 offering costs recorded at the closing. These shares were subsequently issued in 2003. During 2002, the Company also agreed to issue 350 shares of common stock to an employee for finding investors in connection with the 2002 Private Placement. None of the shares had been issued as of December 31, 2002. These shares were subsequently issued in 2003. Accordingly, the Company recorded the obligation to general and administrative expenses in the statement of operations in the amount of $6,000. On January 14, 2003, the Company closed the 2002 Private Placement, at which point the Company agreed to issue such employee an additional 1,167 shares in connection with shares sold subsequent to December 31, 2002 and through the closing date. The Company recorded an additional obligation of $27,000 to general and administrative expenses in 2003 representing the fair value of the additional 1,167 shares. 2002 Related Party Transaction The Company agreed to issue 4,226 shares of common stock as payment for 2002 scientific advisory services. These shares were issued in 2003. May 2003 Private Placement In May 2003, the Company began a private placement of up to 416,667 shares of common stock at $12.00 per share. As of the closing on July 15, 2003, the Company had sold 399,917 shares of common stock for proceeds of $4,671,000, net of issuance costs of $128,000. In connection with this offering the Company issued 18,269 common stock warrants (exercisable at $32.40 per share) to its placement agents. The Company valued the warrants at $261,000 using the Black-Scholes pricing model and recorded the warrant value as offering costs with a corresponding increase to additional paid-in capital. These warrants expired unexercised in 2006. October 2003 “PIPE” Transaction On October 2, 2003 the Company closed a private offering, structured as a Private Investment, Public Equity (“PIPE”), exempt from registration under Section 4(2) of the Securities Act of 1933, in which it sold to institutional investors 219,096 of the 238,096 offered shares of common stock at $21.00 per share for proceeds of $4,041,000, net of issuance costs of $559,000. In connection with this offering, the Company issued 109,549 warrants with an initial exercise price of $31.74 per share to the investors and 10,955 warrants with an initial exercise price of $41.16 per share to its placement agent. The exercise price of the warrants was subject to adjustment pursuant to anti-dilution and other provisions. The investor warrants and placement agent Warrants were valued at $2,531,000 and $191,000, respectively, using the relative fair value, and allocated to additional paid-in-capital. The Company used the Black-Scholes pricing model to value these warrants. The warrants were originally accounted for as freestanding derivative instruments. The investor warrants expired unexercised in 2008 and the placement agent warrants expired unexercised in 2007. April 2004 “PIPE” Transaction On April 7, 2004, the Company closed a private equity offering, structured as a “PIPE” in which it sold to certain institutional investors 206,019 shares of common stock at $21.60 per share for proceeds of $3,983,000, net of cash issuance costs of $466,000. In connection with this offering, the Company issued 103,010 warrants to investors and 10,301 warrants to a placement agent with an initial exercise price of $31.80 per share. The exercise price of the warrants was subject to adjustment pursuant to anti-dilution and other provisions. The investor warrants and the placement agent warrants were valued at $1,931,000 and $154,000, respectively, using the relative fair value, and allocated to additional paid-in-capital. The Company used the Black-Scholes pricing model to value these warrants. The warrants were originally accounted for as freestanding derivative instruments. The investor warrants expired unexercised in 2009 and the placement agent warrants expired unexercised in 2007. August 2004 “PIPE” Transaction On August 12, 2004, the Company closed a private offering, structured as a “PIPE” in which it sold to certain institutional investors 333,334 shares of common stock at $18.00 per share for proceeds of $5,515,000, net of cash issuance costs of $485,000. In connection with this offering the Company issued 333,334 warrants to the investors and 16,667 warrants to the placement agent with an exercise price of $4.20 per share. The exercise price of the warrants was subject to adjustment solely as a result of stock splits, recapitalizations and similar events. The investor warrants and placement agent warrants were valued at $4,786,000 and $239,000, respectively, and allocated to additional paid-in-capital. The Company used the Black-Scholes pricing model to value these warrants. The warrants were originally accounted for as freestanding derivative instruments. These warrants expired unexercised in 2009. February 25, 2008 Offering On February 25, 2008, the Company closed an offering in which it sold to investors (i) an aggregate of 1,250,000 shares of the Company’s common stock at $3.00 per share, (ii) warrants, which expire on August 25, 2013, to purchase an aggregate of 1,250,000 share of the Company’s common stock at an exercise price of $3.50 per share, and (iii) warrants, which expired on December 26, 2008, to purchase an aggregate of 500,000 shares of the Company’s common stock at an exercise price of $3.78 per share. In addition, the Company issued to a placement agent warrants, which expire on August 25, 2013, to purchase 34,375 shares of the Company’s common stock at an exercise price of $4.20 per share. The warrants are exercisable beginning on August 25, 2008. The warrants provide for cashless exercise if at any time during the term of the warrants if there is no effective registration statement for the issuance or resale of the underlying warrant shares. The exercise price of each warrant is adjustable in the event of a stock split or stock combination, capital reorganization, merger or similar event. The Company received proceeds of $3,381,000, net of cash transaction costs of $369,000. In addition the Company incurred $56,000 of costs for warrants issued to a placement agent. Proceeds of $1,044,000 were allocated to common stock and $2,281,000 were allocated to investor warrants using the Black-Scholes method with a fair market value of the Company’s common stock of $2.40 and the following assumptions as of February 25, 2008: for the 5 year warrants exercisable at $4.20 per share, a risk-free interest rate of 2.94% and volatility of 95% and for the 4 month warrants exercisable at $3.78 per share, a risk-free interest rate of 2.13% and volatility of 95%. The warrants were determined to have the characteristics of derivative liabilities and were originally accounted for as liabilities prior to the Company increasing the authorized number of shares. Changes in fair value were recognized as either a gain or loss in the consolidated statement of operations. In the second quarter of 2008 the warrants were reclassified to equity. Through May 21, 2008, these warrants were marked to market resulting in a reduction in warrant liabilities in the balance sheet and an offsetting credit to change in fair value of warrant liabilities in the statement of operations in the amount of $356,000. The remaining fair value of $2,160,000 was credited to additional paid-in capital in the balance sheet. On December 26, 2008 the 500,000 warrants exercisable at $3.78 expired unexercised. If the Company pays a stock dividend or makes a distribution or combines shares of its common stock, then the number of shares issuable upon exercise of this warrant shall be proportionately adjusted such that the aggregate exercise price of this warrant remains unchanged. Cork Investments On July 2, 2008, the Company issued 50,000 warrants to Cork Investments in exchange for $20,000. The warrants were exercisable for common stock at $6.00 per share for a period of three years and expired unexercised in 2011. The $20,000 was credited to additional paid in capital. 2012 Offering of Units On March 22, 2012, the Company entered into an underwriting agreement, relating to the offer and sale of 1,159,445 units (the “Units”) of the Company, each unit consisted of two shares of Common Stock and one warrant to purchase one share of Common Stock. Pursuant to the underwriting agreement, the Company granted the underwriters a 45-day option to purchase up to an additional 173,916 Units to cover over-allotments, which they exercised on March 26, 2012. The public offering price for each Unit was $9.00. Each warrant has an initial exercise price of $5.63 per share, is exercisable upon separation of the Units and expires on March 28, 2017.
On March 28, 2012, the Company sold and issued 1,333,361 Units (2,666,722 shares of common stock and related $5.63 warrants to purchase 1,333,361 shares of common stock) for gross proceeds of $12.0 million (net cash proceeds of $10,403,000 after the underwriting discount and offering costs). The warrants were valued at $4,445,000 as of the issuance date of March 28, 2012, using the closing price of $4.20, a life of 5 years, a volatility of 119% and a risk free interest rate of 1.05%. Based upon the Company’s analysis of the criteria contained in ASC Topic 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity” the Company has determined that warrants issued in connection with this financing transaction were not derivative liabilities and therefore, were recorded as additional paid-in capital. On March 28, 2012, in connection with this underwritten financing as per the underwriting agreement, the Company issued a total of 46,378 common stock purchase warrants to the underwriters. These warrants expire May 2, 2016, have an exercise price of $5.63 per share, and are exercisable beginning one year from March 22, 2012 (the date of the underwriting agreement). These warrants were valued at $143,000 as of the date of issuance (March 28, 2012), using the closing price of $4.20, life of 4.1 years, volatility of 117% and risk free interest rate of 0.78%. Based upon the Company’s analysis of the criteria contained in ASC Topic 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity”, the Company has determined that these warrants issued in connection with this financing transaction were not derivative liabilities and therefore, were recorded as additional paid-in capital. Effective as of March 23, 2012, and in connection with the pricing of the offering of Units, the Company effected a one-for-six reverse split of its Common Stock. Per the terms of the reverse split, all fractional shares were rounded up. Based on the effective split date of March 23, 2012, the Company issued 3,324 shares of common stock to cover fractional shares. Series A 12% Convertible Preferred Stock — February 4, 2008 Private Placement On February 4, 2008, the Company closed a private placement begun in October 2007 of its Series A 12% Convertible Preferred Stock (“Series A”) and related warrants. In this transaction, the Company sold units of securities at $6.00 per unit, each unit comprised of (i) one share of Series A Preferred, (ii) a warrant to purchase one share of common stock for $9.00, and (iii) a warrant to purchase one share of common stock for $12.00. Each share of the Series A is entitled to dividends at the rate of 12% per annum payable at the Company’s option in cash or shares of common stock valued at the higher of $6.00 per share or 100% of the value weighted average price of the Company’s share price for the 20 consecutive trading days prior to the applicable dividend payment date. Dividends are payable semi-annually on March 30 and September 30. The dividend paid on the initial dividend payment date is calculated from the date the Company deposited each subscription advance. The shares of Series A are entitled to vote as a class with the Company’s common stock and each share of Series A is convertible at any time to one-sixth of a share of common stock, subject to adjustment in the event of a stock dividend, stock split or combination, reclassification or similar event. The Company has the right to require conversion if the closing price of the common stock exceeds $18.00 for 15 consecutive trading days and a registration statement covering the resale of the shares of common stock issuable upon conversion of the Series A is then in effect. Each warrant is exercisable solely for cash beginning August 3, 2008 and expired on February 4, 2012. The exercise price of each warrant is adjustable in the event of a stock split or stock combination, capital reorganization, merger or similar event. As of December 31, 2007, the Company had received subscription advances of $1,667,500 for Series A. In 2008, the Company received additional subscription advances of $75,000 resulting in total gross proceeds of $1,742,500. On February 4, 2008 the Company closed the private placement. The Company incurred $52,000 of cash transaction costs resulting in net cash proceeds of $1,691,000. In addition, the Company incurred $3,000 of costs for 1,400 warrants exercisable at $9.00 issued to placement agents. Proceeds of $984,000 were allocated to investor warrants using the Black-Scholes method with the following assumptions as of February 4, 2008: risk free interest rate 2.51%, volatility 95%, fair market value of the company’s common stock on February 4, 2008, and the share price on the closing date of the transaction of $3.54. The warrants were originally accounted for as freestanding derivative instruments in the consolidated balance sheet formerly under the caption “Warrant Liabilities”. These warrants were originally classified as a liability because the February 2006 warrants contain an anti-dilution provision in the event of a subsequent dilutive issuance and the potential number of shares issuable exceeded the Company’s authorized shares. Changes in fair value were recognized as either a gain or loss in the consolidated statement of operations under the caption “Change in fair value of warrant liabilities”. In the second quarter of 2008, the warrants were reclassified to equity as a result of an amendment to the Company’s articles of incorporation approved at the May 21, 2008 annual meeting of shareholders increasing the Company’s authorized common. Through May 21, 2008, these warrants were marked to market resulting in a reduction in warrant liabilities in the balance sheet and an offsetting credit to change in fair value of warrant liabilities in the statement of operations in the amount of $100,000. The remaining fair value of $502,000 was credited to additional paid-in capital in the balance sheet. Series B Redeemable Convertible Preferred Stock On February 12, 2009, the Company entered into a securities purchase agreement (the “10X Agreement”) pursuant to which it agreed to issue and sell to 10X Fund LP, at two or more closings, up to: (i) 3,000,000 shares its Series B convertible preferred stock (“Series B redeemable convertible preferred stock” or “Series B”) with an aggregate stated value of $6.0 million and convertible into 2,000,000 shares of common stock at December 31, 2011 and (ii) warrants to purchase 6,000,000 shares of common stock. Through a series of closings from February 2009 through May 2010, the Company issued and sold, pursuant to the 10X Agreement, a total of (i) 900,000 shares of Series B-1 convertible preferred stock (“Series B-1 redeemable convertible preferred stock” or “Series B-1”) and related common stock warrants for 1,800,000 shares of common stock and (ii) 2,100,000 shares of Series B-2 convertible preferred stock (“Series B-2 redeemable convertible preferred stock” or “Series B-2”) and related warrants for 4,200,000 shares of common stock. During 2010, the Company received total net cash proceeds of $1,463,000 from the issuance of 770,000 shares of Series B-2 and related warrants. During 2009, the Company received total net cash proceeds of $1,548,000 from the issuance of 900,000 shares of Series B-1 and related warrants and $2,472,000 from the issuance of 1,330,000 shares of Series B-2 and related warrants. The Series B closings were as follows: On February 12, 2009, the Company issued and sold, pursuant to the 10X Agreement: (i) 900,000 shares of Series B-1 convertible preferred stock (“Series B-1 redeemable convertible preferred stock” or “Series B-1”) convertible into 600,000 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 300,000 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 300,000 shares of common stock; and (iv) Class B warrants exercisable to purchase 1,200,000 shares of common stock. Net proceeds from the closing were $1,548,000. On May 13, 2009, the Company issued and sold, pursuant to the 10X Agreement: (i) 450,000 shares of Series B-2 convertible preferred stock (“Series B-2 redeemable convertible preferred stock” or “Series B-2”) convertible into 300,000 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 150,000 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 150,000 shares of common stock; and (iv) Class B warrants exercisable to purchase 600,000 shares of common stock. Net proceeds from the closing were $801,000. On June 30, 2009, the Company issued and sold, pursuant to the 10X Agreement: (i) 250,000 shares of Series B-2 convertible into 166,666 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 83,333 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 83,333 shares of common stock; and (iv) Class B warrants exercisable to purchase 333,333 shares of common stock. Net proceeds from the closing were $473,000.
On August 12, 2009, the Company issued and sold, pursuant to the 10X Agreement: (i) 150,000 shares of Series B-2 convertible into 100,000 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 50,000 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 50,000 shares of common stock; and (iv) Class B warrants exercisable to purchase 200,000 shares of common stock. Net proceeds from the closing were $287,000. On September 30, 2009, the Company issued and sold, pursuant to the 10X Agreement: (i) 162,500 shares of Series B-2 convertible into 108,333 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 54,166 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 54,166 shares of common stock; and (iv) Class B warrants exercisable to purchase 216,666 shares of common stock. Net proceeds from the closing were $305,000. On November 4, 2009, the Company issued and sold, pursuant to the 10X Agreement: (i) 155,000 shares of Series B-2 convertible into 103,333 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 51,666 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 51,666 shares of common stock; and (iv) Class B warrants exercisable to purchase 206,666 shares of common stock. Net proceeds from the closing were $296,000. On December 8, 2009, the Company issued and sold, pursuant to the 10X Agreement: (i) 162,500 shares of Series B-2 convertible into 108,333 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 54,167 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 54,167 shares of common stock; and (iv) Class B warrants exercisable to purchase 216,667 shares of common stock. Net proceeds from the closing were $310,000. On January 29, 2010, the Company issued and sold, pursuant to the 10X Agreement: (i) 162,500 shares of Series B-2 convertible into 108,334 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 54,167 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 54,167 shares of common stock; and (iv) Class B warrants exercisable to purchase 216,667 shares of common stock. Net proceeds from the closing were $308,000. On March 8, 2010, the Company issued and sold, pursuant to the 10X Agreement: (i) 167,500 shares of Series B-2 convertible into 111,667 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 55,834 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 55,834 shares of common stock; and (iv) Class B warrants exercisable to purchase 223,334 shares of common stock. Net proceeds from the closing were $322,000. On April 30, 2010, the Company issued and sold, pursuant to the 10X Agreement: (i) 155,000 shares of Series B-2 convertible into 103,334 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 51,667 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 51,667 shares of common stock; and (iv) Class B warrants exercisable to purchase 206,667 shares of common stock. Net proceeds from the closing were $297,000. On May 10, 2010, the Company issued and sold, pursuant to the 10X Agreement: (i) 285,000 shares of Series B-2 convertible into 190,000 shares of common stock; (ii) Class A-1 warrants exercisable to purchase 95,000 shares of common stock; (iii) Class A-2 warrants exercisable to purchase 95,000 shares of common stock; and (iv) Class B warrants exercisable to purchase 380,000 shares of common stock. Net proceeds from the closing were $536,000. The terms of the Series B are as follows: Dividends. Holders of the Series B will be entitled to receive cumulative dividends at the rate of 12% per share per annum (compounding monthly) payable quarterly which may, at the Company’s option, be paid in cash or common stock. Pursuant to an agreement with the holder of all shares of Series B, on January 26, 2011, the Company amended and restated the Certificate of Designation of Preferences, Rights and Limitations for the Series B-1 and Series B-2, to provide that dividends are payable in cash or shares of Common Stock valued at 100% of the volume weighted average price of the Common Stock for the 20 consecutive trading days prior to the dividend payment date on and after September 30, 2011. If the Company does not pay any dividend on the Series B, dividends will accrue at the rate of 15% per annum (compounding monthly). Conversion Rights. Each share of Series B is convertible into four-sixths (approximately 0.667) shares of common stock at the conversion price of $3.00 per share at the option of (i) the holder, at any time and (ii) the Company, at any time after February 12, 2010 (and upon 10 days notice) if the common stock is quoted at or above $9.00 for 15 consecutive trading days and an effective registration statement regarding the underlying shares of common stock is in effect (subject to certain monthly volume limits). Pursuant to an agreement with the holder of all shares of Series B, on January 26, 2011, the Company amended and restated the Certificate of Designation of Preferences, Rights and Limitations for the Series B-1 and Series B-2, to remove the Company’s right to compel conversion of the Series B Preferred Stock to shares of its Common Stock Redemption Rights. Pursuant to an agreement with the holder of all shares of Series B, on January 26, 2011, the Company amended and restated the Certificate of Designation of Preferences, Rights and Limitations for the Series B-1 and Series B-2, to provide that, upon notice of not less than 30 trading days, a holder of Series B may require the Company to redeem, in whole or in part at any time on or after the earlier of (a) February 12, 2019 or (b) the date of issuance of a promissory note to David Platt (see Note 11) in connection with the achievement of certain milestones under his separation agreement. The redemption price will be equal to the sum of the stated value of the Series B, plus all accrued but unpaid dividends thereon, as of the redemption date. If the Company fails to pay the redemption price in cash on the redemption date, then the holders of the Series B requesting redemption may, at their sole option, automatically convert their shares of Series B into a promissory note bearing interest at the rate of 15% per year and secured by a lien on all of the Company’s assets. So long as any shares of the Series B remain outstanding, the Company is also subject to restrictions limiting, among other things, amendments to the Company’s organizational documents; the purchase or redemption of the Company’s capital stock; mergers, consolidations, liquidations and dissolutions; sales of assets; dividends and other restricted payments; investments and acquisitions; joint ventures, licensing agreements, exclusive marketing and other distribution agreements; issuances of securities; incurrence of indebtedness; incurrence of liens and other encumbrances and issuances of any common stock equivalents. Voting Rights. Except as noted below, the holder of each share of Series B shall be entitled to the number of votes equal to the number of shares of Common Stock into which such share of Series B would be convertible, and shall otherwise have voting rights and powers equal to the voting rights and powers of the Common Stock. With respect to the election of directors, the holders of the Series B shall vote together as a separate class to elect two (2) members of the Board of Directors (the “Series B Directors”), and the Company shall take all reasonably necessary or desirable actions within its control (including, without limitation, calling special meetings of the Board of Directors, nominating such persons designated by the holders of the Series B as directors on the applicable proxy statements and recommending their election) to permit the holders of the Series B to appoint two additional (2) members of the Board of Directors (the “Series B Nominees”), who shall be subject to election by all shares of voting stock of the Company voting together as a single group, until such time as all authorized shares of Series B have has been issued and sold, after which the number of Series B Nominees shall be three (3), and shall remain three (3) until there are no longer any shares of Series B outstanding. The holders of Series B shall vote together with the holders of Common Stock and other voting capital stock of the Company to elect all other members of the Board of Directors.
Other Restrictions. So long as any shares of the Series B remain outstanding, the Company may not, without the approval of the holders of a majority of the shares of Series B outstanding, among other things, (i) change the size of the Company’s Board of Directors; (ii) amend or repeal the Company’s Articles of Incorporation or Bylaws or file any articles of amendment designating the preferences, limitations and relative rights of any series of preferred stock; (iii) create or increase the authorized amount of any additional class or series of shares of stock that is equal to or senior to Series B; (iv) increase or decrease the authorized number of shares of the Series B; (v) purchase, redeem or otherwise acquire for value any shares of any class of capital stock; (vi) merge or consolidate the Company into or with any other corporation or sell, assign, lease, pledge, encumber or otherwise dispose of all or substantially all of the Company’s assets or those of any subsidiary; (vii) voluntarily or involuntarily liquidate, dissolve or wind up the Company or the Company’s business; (viii) pay or declare dividends on any capital stock other than the Preferred Stock, unless the Series B share ratably in such dividend and all accrued dividends payable with respect to the Series B have been paid prior to the payment or declaration of such dividend; (ix) acquire an equitable interest in, or the assets or business of any other entity in any form of transaction; (x) create or commit us to enter into a joint venture, licensing agreement or exclusive marketing or other distribution agreement with respect to the Company’s products, other than in the ordinary course of business; (xi) permit the Company or any subsidiary to sell or issue any security of such subsidiary to any person or entity other than the Company; (xii) enter into, create, incur, assume or guarantee any indebtedness for borrowed money of any kind (other than indebtedness existing on the initial closing date and approved by Series B shareholders); (xiii) enter into, create, incur or assume any liens of any kind (other than certain permitted liens); (xiv) issue any common stock equivalents; (xv) increase the number of shares of the Company’s common stock that may be issued pursuant to options, warrants or rights to employees, directors, officers, consultants or advisors above 250,000. Warrants. Each Class A-1 warrant, Class A-2 warrant and Class B warrant is exercisable at $3.00 per share of common stock at any time on or after the date of issuance until the fifth anniversary of the respective issue date. The Company may, upon 30 days notice and so long as an effective registration statement regarding the underlying shares of common stock is in effect, issue a termination notice with respect to (i) each Class A-1 warrant on any trading day on which the market value of the common stock for each of the 15 previous trading days exceeded $7.50 per share and (ii) each Class A-2 warrant on any trading day on which the market value of the common stock for each of the 15 previous trading days exceeded $10.50 per share. The fair value of the warrants issued in connection with the Series B-1 was $1,296,000 at the date of issuance based on the following assumptions: an expected life of 5 years, volatility of 118%, risk free interest rate of 1.79% and zero dividends. The Company allocated the gross proceeds based on the relative fair value of the Series B-1 and the related warrants, resulting in $1,105,000 of the proceeds being allocated to additional paid-in capital. The Company analyzed the Series B-1, post-allocation of the gross proceeds, and determined that there was no beneficial conversion feature at the date of issuance. The issuance costs of the Series B-1 and the amounts allocated to warrants were recorded as a reduction to the carrying value of the Series B-1 when issued, and are accreted to the redemption value of the Series B-1 through the earliest redemption date. Due to the redemption feature, the Company has presented the Series B-1 outside of permanent equity, in the mezzanine of the consolidated balance sheet at December 31, 2012 and 2011. The fair value of the warrants issued during the year ended December 31, 2010 in connection with the Series B-2 was $4,148,000 at the dates of issuance based on the following assumptions: an expected life of 5 years, volatility of 126% to 129%, risk free interest rates of 2.27% to 2.43% and zero dividends. The fair value of the warrants issued during the year ended December 31, 2009 in connection with the Series B-2 was $5,333,000 at the dates of issuance based on the following assumptions: an expected life of 5 years, volatility of 124% to 127%, risk free interest rates of 1.98% to 2.70% and zero dividends. The Company allocated the gross proceeds based on the relative fair value of the Series B-2 and the related warrants, resulting in $1,028,000 and $1,732,000 of the proceeds being allocated to additional paid-in capital for the years ended December 31, 2010 and 2009, respectively. The issuance costs of the Series B-2 and the amounts allocated to warrants were recorded as a reduction to the carrying value of the Series B-2 when issued, and are accreted to the redemption value of the Series B-2 through the earliest redemption dates. Due to the redemption feature, the Company has presented the Series B-2 outside of permanent equity, in the mezzanine of the consolidated balance sheet at December 31, 2012 and 2011. The Company analyzed the Series B-2, post-allocation of the gross proceeds, and determined that there was a beneficial conversion feature at the dates of issuance. Because the closing price of the common stock on the closing date was greater than the effective conversion price, $388,000 and $628,000 of the proceeds (limited to the allocation of the proceeds) during the years ended December 31, 2010 and 2009, respectively, were allocated to an embedded beneficial conversion feature of the Series B-2. The amount allocated to the beneficial conversion feature was recorded as a discount to the Series B-2 is being accreted, with such accretion being charged through the earliest redemption dates. Series C 6% Super Dividend Convertible Preferred Stock On December 29, 2010, the Company designated and authorized the sale and issuance of up to 1,000 shares of Series C Super Dividend Convertible Preferred Stock (“Series C”) with a par value of $0.01 and a stated value equal to $10,000 (the “Stated Value”). On December 30, 2010, the Company sold and issued 212 shares of Series C at a price of $10,000 per share for gross proceeds of $2,120,000. The Company incurred $47,000 of cash transaction costs resulting in net cash proceeds of $2,073,000. In addition, the Company issued 500 warrants exercisable at $7.20 to a placement agent which had a de minimis value. The terms of the Series C are as follows: Conversion Rights. Each holder of Series C may convert all, but not less than all, of his Series C shares plus accrued and unpaid dividends into Common Stock at the price of $6.00 per share of Common Stock (“Conversion Price”), such that approximately 1,667 shares of Common Stock will be issued per each converted share of Series C (accrued and unpaid dividends will be issued as additional shares). At December 31, 2011, the 220 shares of Series C were convertible into a total of 366,676 shares of Common Stock. Subject to the continuing obligation to pay post conversion dividends, the Company may convert all, but not less than all, of the Series C (plus all accrued and unpaid dividends) into Common Stock, at the Conversion Price, upon such time that the closing price of the Common Stock is no less than $18.00 per share for 15 consecutive trading days. Dividends. Holders of Series C shall be entitled to receive cumulative non-compounding dividends at the rate per share of Series C equal to the greater of (i) 6% per annum of the Stated Value (also defined as the “Floor”) or (ii) 2.5% of net sales until the total dividends paid is equal to the initial investment and 1.25% of net sales thereafter. The maximum amount each Series C shareholder will receive in dividend payments is equal to $100,000 (the “Maximum Payout”). For purposes of this dividend calculation, net sales shall mean gross revenues actually received by the Company, from the sale or licensing of the product DAVANAT® (GM-CT-01), less chargebacks, returns, expenses attributable to product recalls, duties, customs, sales tax, freight, insurance, shipping expenses, allowances and other customary deductions. The dividend shall be payable in arrears semi annually on March 31 and September 30, beginning with the first such date after the original issue date; provided, however, that all dividends and all other distributions shall cease, and no further dividends or other distributions shall be paid, in respect of each share of Series C from and after such time that the Maximum Payout has been paid in respect of such share of Series C. Such dividends shall be payable at the Company’s option either in cash or in duly authorized, fully paid and non-assessable shares of Common Stock valued at the higher of (i) $3.00 per share or (ii) the average of the Common Stock trading price for the ten (10) consecutive trading days ending on the trading day that is immediately prior to the dividend payment date. Series C Post Conversion Dividend Right. In the event that any share of Series C is converted into Common Stock before the Maximum Payout is paid in respect of such converted share of Series C, then the holder shall have the right to continue to receive dividends in respect of such converted share of Series C equal to the remaining payout (the “Series C Preferred Stock Post Conversion Dividend Right”) which shall be equal to the Maximum Payout less the cumulative dividends received through the conversion date. One share of Series C Preferred Stock Post Conversion Dividend Right shall be issued for each such converted share of Series C. The holder of each Series C Preferred Stock Post Conversion Dividend Right shall receive the remaining payout on an equal basis and in conjunction with the then outstanding shares of Series C and all the other then outstanding Series C Post Conversion Dividend Rights, in the same manner and subject to the same terms and conditions as applicable to the payment of dividends on each share of Series C, except that for purposes of calculating the dividend the Floor shall not apply. The Series C Preferred Stock Post Conversion Dividend Right shall have no stated value, liquidation preference or right to any dividends or distributions other than the remaining payout. The Series C Preferred Stock Post Conversion Right is subject to redemption in the same manner as outstanding Series C shares. At the date of issuance, the Series C have an embedded dividend right to continue to receive dividend payments after conversion to common stock (the Series C Post Conversion Dividend Right) which requires bifurcation. The value of this post conversion dividend right on the date of issuance was determined to be de minimis due to the fact that the payment of a dividend stream other than the 6% dividend and conversion of Series C prior to the Company achieving sales of GM-CT-01 was deemed improbable at that time. Upon a conversion of the Series C, the Company will be required to record a liability and the related expense during the period of conversion. In July 2011, 5 shares of Series C were converted into 8,334 shares of common stock and 5 Series C Post Conversion Dividend Rights (Dividend Rights) were issued. In January 2013, 5 shares of Series C were converted into 8,334 shares of common stock and 5 Dividend Rights were issued. Per the terms of the Series C, these Dividend Rights shall continue to participate in dividends, however the Floor shall not apply. At December 31, 2012, these Dividend Rights were determined to have a de minimis value, as the payment of a dividend is considered improbable at this time. The Company will continue to evaluate and assess the Series C Post Conversion Dividend Right for each reporting period. Liquidation Rights. In the event of any liquidation, dissolution or winding up of the Company, either voluntarily or involuntarily, the holders of Series C will receive $10,000 per share plus accrued and unpaid dividends, payable prior and in preference to any distributions to the holders of Common Stock but after and subordinate to the Series A 12% Convertible Preferred Stock (“Series A”), Series B-1 and Series B-2, subject to the Maximum Payout.
Redemption. Upon a sale of the Company, the Company shall redeem all of the then outstanding shares of Series C and Series C Preferred Stock Post Conversion Rights within thirty (30) days after the transaction constituting the sale of the Company is closed and such closing is fully funded. The price to redeem a share of Series C and each redeemed Series C Preferred Stock Post Conversion Redemption Right shall be equal to (i) (A) the applicable return on investment (“ROI”) percentage, multiplied by (B) $10,000, minus (ii) the cumulative dividends received through the redemption date. The redemption price shall be payable at the Company’s option either in cash or in shares of common stock valued at the higher of (i) $3.00 per share or (ii) the average market price for the ten consecutive trading days ending immediately prior to the date of redemption. The ROI Percentage shall mean the percentage that applies as of the redemption date, as follows:
Due to the redemption feature, the Company has presented the Series C outside of permanent equity, in the mezzanine of the consolidated balance sheets at December 31, 2012 and 2011. At December 31, 2012, the Series C redemption value was $5,204,000 and the Series C Post Conversion Dividend Right redemption value was $123,000. At March 29, 2013, the Series C redemption value was $5,151,000 and the Series C Post Conversion Dividend Right redemption value was $241,000. Voting Rights. The Series C shares have no voting rights. |
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- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Warrants and Warrant Liabilities
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Warrants and Warrant Liabilities |
Warrants Warrant activity is summarized as follows:
The following table summarizes information with regard to outstanding warrants issued in connection with equity and debt financings and consultants as of December 31, 2012.
Consultant Warrants In May 2008 the Company entered into an agreement with Investor Relations Group (“IRG”) for IRG to provide investor relations services to the Company in exchange for cash and warrants on a monthly basis. On September 30, 2008 the Company terminated the agreement under the provisions of the agreement. During the effective contract period IRG earned 6,500 warrants valued at $3,000. The expense associated with these warrants was calculated using the Black-Scholes option-pricing model and charged to stock compensation expense. The warrants are exercisable at $3.00 per share for a period of three years. In April 2009, the Company entered into agreements with consultants that provided for the grant of warrants for the purchase of 55,000 shares of common stock at an exercise price of $3.00 per share. Of the 55,000 warrants, 13,334 vested immediately and 41,666 will vest upon the achievement of certain milestones. The initial 13,334 warrants were valued at $32,000 on issuance based on the following assumptions: an expected life of 4 years, volatility of 134%, risk free interest rate of 1.76% and zero dividends and the expense recognized upon issuance. During the year ended December 31, 2010, 8,334 warrants vested (valued at $16,000 on the vesting date using the following assumptions: expected life of 3.06 years, volatility of 140%, risk free interest rates of 1.69% and zero dividends). In 2010, when it appeared probable that the remaining 33,332 warrants would vest, the Company valued the warrants at $124,000 as of December 31, 2010 using the following assumptions: expected life of 2.29 years, volatility of 141%, risk free interest rates of 0.61% and zero dividends. The Company valued the warrants at $104,000 as of December 31, 2011 using the following assumptions: expected life of 1.29 years, volatility of 70%, risk free interest rates of 0.12% and zero dividends. The Company recognized expense related to the 33,332 warrants of $111,000 for the year ended December 31, 2010 and a reversal of expense of $13,000 for the year ended December 31, 2011. During the year ended December 31, 2012, these warrants were no longer expected to vest and the Company recognized a reversal of previously recognized expense related to these warrants of $100,000 for the year ended December 31, 2012. In May 2009, the Company entered into agreements with consultants that provided for the grant of warrants to purchase 95,834 shares of common stock at an exercise price of $3.00 per share of which 74,000 vested and 21,834 were forfeited. The warrants were valued at $232,000 on issuance based on the following assumptions: an expected life of 5 years, volatility of 124%, risk free interest rate of 2.16% and zero dividends. The Company recognized expense related to these warrants of $53,000 during the year ended December 31, 2010. As of December 31, 2010, 74,000 of these warrants were vested and 21,834 shares were forfeited. In May 2010, the Company granted warrants to consultants for the purchase of 35,001 shares of common stock at an exercise price of $4.50 per share. The warrants were valued at $134,000 on issuance based on the following assumptions: an expected life of 4 years, volatility of 143%, risk free interest rate of 1.610% and zero dividends. The warrants vested immediately and the company recognized an expense of $134,000 related to these warrants during the year ended December 31, 2010. In May 2010, the Company entered into an agreement with a consultant that provided for the grant of warrants for the purchase of 12,000 shares of common stock at an exercise price of $15.00 per share. The warrants were initially valued at $40,000 on issuance based on the following assumptions: an expected life of 4 years, volatility of 143%, risk free interest rate of 1.610% and zero dividends. The warrants vest at a rate of 500 per month and the unvested warrants will be revalued as they vest. At December 31, 2011, 7,500 warrants were vested and 4,500 were forfeited upon cancellation of the agreement. The following assumptions were used to value the warrants for the year ended December 31, 2011: an expected life of 2.99 to 3.32 years, volatility of 128% to 130%, risk free interest rate of 0.79% to 1.29% and zero dividends. The following assumptions were used to value the warrants for the year ended December 31, 2010: an expected life of 3.40 to 3.99 years, volatility of 130% to 144%, risk free interest rate of 0.51% to 1.68% and zero dividends. The company recognized an expense of $12,000 and $15,000 related to these warrants during the years ended December 31, 2011 and 2010, respectively.
In August 2010, the Company entered into an agreement with a consultant, who was also a board member, which provided for the grant of warrants for 100,000 shares of common stock at an exercise price of $4.26 per share. Of the 100,000 warrants, 25,000 vested immediately on signing of the agreement, 25,000 were to vest at the end of one year and the remaining 50,000 warrants were to vest based on the achievement of certain milestones. The following assumptions were used to value the remaining unvested warrants on March 7, 2011 at the date the consultant effectively became an employee of the Company: an expected life of 4.28 years, volatility of 135%, risk free interest rate of 1.705% and zero dividends. Pursuant to an employment agreement entered into in May 2011, all remaining unvested warrants were immediately vested. The Company recognized expense of $340,000 and $219,000 related to these warrants during the years ended December 31, 2011 and 2010, respectively. In December 2010, the Company granted warrants to a consultant for the purchase of 33,334 shares of common stock at an exercise price of $3.90 per share. The warrants were valued at $112,000 on issuance based on the following assumptions: an expected life of 5 years, volatility of 130%, risk free interest rate of 1.9% and zero dividends. The warrants vested immediately and the company recognized an expense of $112,000 related to these warrants during the year ended December 31, 2010. In December 2010, the Company issued warrants to a placement agent for the purchase of 500 shares of common stock at an exercise price of $7.20 per share. These warrants were valued at $2,000 using the following assumptions: an expected life of 5 years, volatility of 130%, risk free interest rate of 2.06% and zero dividends. Impact of Adopting Provisions Regarding Warrant Liabilities In June 2008, the Financial Accounting Standards Board (“FASB”) ratified standards related to determining whether an instrument (or an embedded feature) is indexed to an entity’s own stock. The standards provide that an entity should use a two step approach to evaluate whether an equity-linked financial instrument (or embedded feature) is indexed to its own stock, including evaluating the instrument’s contingent exercise and settlement provisions. The standard is effective for fiscal years beginning after December 15, 2008. The Company adopted the standard on January 1, 2009 and determined that the 1,164,929 warrants issued in connection with the February 2006 Transaction that had been classified as equity and included in additional paid-in capital at December 31, 2008, should be classified as liabilities due to repricing and anti-dilution provisions contained in the warrant agreements. The impact of adopting new accounting provisions on January 1, 2009, which required the treatment of warrants with certain features as liabilities rather than equity, was a decrease in additional paid-in-capital by $458,000, which was the fair value recorded at the time the warrants were transferred from a liability to equity during the year ended December 31, 2008, an increase of warrant liabilities by $204,000, the fair value of the warrants as of January 1, 2009 and a credit to accumulated deficit for the difference. During the year ended December 31, 2011, the Company recognized a loss of $524,000 in its consolidated statements of operations related to the change in fair value of warrant liabilities. |
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- Definition
Stock Warrants No definition available.
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Stock-Based Compensation
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Stock-Based Compensation |
Summary of Stock-Based Compensation Plans At December 31, 2012, the Company had three stock-based compensation plans where the Company’s common stock has been made available for equity-based incentive grants as part of the Company’s compensation programs (the “Incentive Plans”) as follows: 2001 Stock Incentive Plan. In October 2001, the Company’s Board of Directors adopted the Pro-Pharmaceuticals, Inc. 2001 Stock Incentive Plan (the “Incentive Plan”), which permits awards of incentive and nonqualified stock options and other forms of incentive compensation to employees and non-employees such as directors and consultants. The Board has 833,334 shares of common stock for issuance upon exercise of grants made under the Incentive Plan. Options granted under the Incentive Plan vest either immediately or over a period of up to three years, and expire 3 years to 10 years from the grant date. At December 31, 2012, 291,992 shares were available for future grant under the Incentive Plan. 2003 Non-Employee Director Stock Option Plan. In 2003, the stockholders approved the Pro-Pharmaceuticals, Inc. 2003 Non-Employee Director Stock Option Plan (the “Director Plan”), which permits awards of stock options to non-employee directors. The stockholders reserved 166,667 shares of common stock for issuance upon exercise of grants made under the Director Plan. At December 31, 2012, 146,557 shares were available for future grant under the Director Plan. 2009 Incentive Compensation Plan. In February 2009, the Company adopted the 2009 Incentive Compensation Plan (the “2009 Plan”) which provides for the issuance of up to 3,333,334 shares of the Company’s common stock in the form of options, stock appreciation rights, restricted stock and other stock-based awards to employees, officers, directors, consultants and other eligible persons. At December 31, 2012, 979,259 shares were available for future grant under the 2009 Plan. In addition, the Company has awarded 1,477,379 non-plan stock option grants to employees and non-employees. These non-plan grants have vesting periods and expiration dates similar to those options granted under the Incentive Plans. At December 31, 2012, 1,440,045 non-plan grants were outstanding. Stock-Based Compensation Following is the stock-based compensation expense related to common stock options, restricted common stock and common stock warrants:
The fair value of the options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used:
As noted above, the fair value of stock options is determined by using the Black-Scholes option pricing model. For all options granted since January 1, 2006 the Company has generally used option terms of between 5 to 10 years, with 5 years representing the estimated life of options granted to employees. The volatility of the common stock is estimated using historical volatility over a period equal to the expected life at the date of grant. The risk-free interest rate used in the Black-Scholes option pricing model is determined by reference to historical U.S. Treasury constant maturity rates with terms equal to the expected terms of the awards. An expected dividend yield of zero is used in the option valuation model, because the Company does not expect to pay any cash dividends in the foreseeable future. At December 31, 2012, the Company does not anticipate any option awards will be forfeited in the calculation of compensation expense due to the limited number of employees that receive stock option grants and the Company’s historical employee turnover. Of the options granted during 2011, 166,668 vest only upon the achievement of certain market conditions (83,334 and 83,334 upon the Company achieving a market capitalization of $5 billion and $10 billion, respectively). These market condition stock option awards were valued at $1,006,000 using a Monte Carlo model and will be recognized over a weighted average period of 5.5 years. Assumptions used to value these options included the following: annualized volatility of 110%, annualized drift/risk-free interest rate of 3.5% and a forecast horizon/life of 10 years. The following table summarizes the stock option activity in the stock based compensation plans:
The aggregate intrinsic value in the table above represents the total pre-tax amount, net of exercise price, which would have been received by option holders if all option holders had exercised all options with an exercise price lower than the market price on December 31, 2012, based on the closing price of the Company’s common stock of $2.05 on that date. The weighted-average grant-date fair values of options granted during 2012 and 2011 were $1.77 and $6.07, respectively. As of December 31, 2012 and December 31, 2011, there were unvested options to purchase 1,472,051 and 1,317,480 shares of common stock, respectively. Total expected unrecognized compensation cost related to such unvested options is $5,628,000 at December 31, 2012, which is expected to be recognized over a weighted-average period of 3.7 years. During the years ended December 31 2012 and 2011, 51,830 and 216,400, respectively, shares were issued upon the exercise of options valued at $96,000 and $253,000, respectively. During the years ended December 31, 2012 and 2011, the Company received $0 and $234,000, respectively, for the exercise of stock options. During 2012 and 2011, 90,253 and 83,334 options were exercised cashlessly resulting in the issuance of 51,830 and 64,273 shares, respectively. The intrinsic value of options exercised during the years ended December 31, 2012 and 2011 and from the period from inception to December 31, 2012 was $162,000, $1,174,000 and $1,724,000, respectively. During the years ended December 31, 2012 and 2011, 595,420 and 380,391 options vested, respectively. The total fair value of options vested during the years ended December 31, 2012, 2011 and the cumulative period from inception to December 31, 2012 was $2,447,000, $2,153,000 and $13,056,000, respectively.
Other Stock Based Compensation Transactions During 2001, the Company entered into a consulting agreement with a non-employee, who was also a Board member and former member of the Audit Committee, pursuant to which the Company granted 33,334 options to purchase common stock at an exercise price of $21.00 in consideration for services to be performed. At the time of issuance, these options were valued at $239,000 based on a deemed fair market value of the Company’s common stock of $13.68 per share. Total expense for the years ended December 31, 2003, 2002 and 2001 related to these options was $71,000, $64,000 and $147,000, respectively. In March 2002, the Company entered into a second agreement with the same non-employee, by which the Company granted 334 options a month to purchase common stock at an exercise price of $21.00 in consideration for monthly consulting services. On November 11, 2002 such agreement was superseded by an amendment, which was effective retroactively to the date of the original agreement, March 1, 2002. Under the amended agreement, the Company granted 4,000 options on March 1, 2002, which vest at a rate of 334 options per month, as services are performed. These options were valued at $11,000 using the Black-Scholes option-pricing model, based on a grant date fair value of the Company’s common stock of $12.96 per share. During 2002, the Company recorded a $41,000 charge to stock compensation expense related to the 3,334 options that vested during the year. As of December 31, 2002, the Company had deferred compensation of $11,000 that related to the remaining unvested options, which was recognized in 2003. In June 2003, the Company entered into a third agreement with the same non-employee, by which the Company granted 4,000 options effective retroactively to March 1, 2003, which vest at a rate of 334 options per month as services are performed. These options were valued at $33,000 using the Black-Scholes option-pricing model, based on a fair market value of the Company’s common stock of $21.00 per share. The consulting arrangement was concluded on March 1, 2004. The Company recorded fair value adjustments of ($2,000) and $21,000 related to the unvested consultant options during 2004 and 2003, respectively. Total expense for the years ended December 31, 2004 and 2003 related to these options was $17,000 and $40,000, respectively. In January 2003, the Company granted 16,667 options at an exercise price of $21.00 to a Board member for consulting services unrelated to services performed as a director. One-third of the options vested immediately and the balance vests in equal amounts on the first and second anniversaries of the award. The options were valued at $156,000 using the Black-Scholes option-pricing model, based on a fair market value of the Company’s common stock of $16.80 per share. The consulting services were completed and the consulting arrangement was concluded as of March 31, 2004. The Company recorded fair value adjustments of $4,000 and $82,000 related to the unvested consultant options during 2004 and 2003, respectively. Total expense for the years ended December 31, 2004 and 2003 related to these options was $51,000 and $193,000, respectively. In May 2003, the Company granted 1,667 options at an exercise price of $21.00 to a new member of the Scientific Advisory Board. One-half of the options vested immediately and the balance vests on the second anniversary. These options were valued at $16,000 using the Black-Scholes option-pricing model based on a fair market value of the Company’s common stock of $16.80 per share. The Company recorded fair value adjustments of $2,000 and $6,000 related to the unvested consultant options during 2004 and 2003, respectively. Total expense for the years ended December 31, 2004 and 2003 related to these options was $5,000 and $13,000, respectively. In September 2003, the Company granted 4,167 options each to a Board member and to a member of the Scientific Advisory Board for consulting services. The options were exercisable immediately at $24.30 per share. These options were valued using the Black-Scholes option-pricing model based on a grant date fair value of the Company’s common stock of $14.64 per share. The Company recorded a $122,000 charge to stock compensation expense in 2003 related to these awards.
In October 2003, in connection with the resignation of its former Chief Financial Officer, the Company accelerated the vesting on 16,667 options granted to such officer in September 2003 at an exercise price of $24.30, which was equal to the fair market value of the common stock on the date of grant. As the fair market value of the common stock was $26.70 per share at the time the vesting was accelerated, the Company recorded a $40,000 charge to stock compensation expense. Also, in October 2003, such officer exercised on a cashless basis 8,334 options at an exercise price of $17.82 per share resulting in the issuance of 2,772 shares. As the fair market value of the Company’s common stock on the date of exercise was $26.70 per share, the Company recorded a charge of $74,000 to stock compensation expense in 2003 related to the exercise of these options. In March 2004, the Company issued 4,167 options in fulfillment of a September 2003 agreement with an investor relations firm. The agreement obligated the Company to pay a monthly retainer and issue options at a rate of 834 options per month, up to a maximum of 16,667 options, exercisable at $34.80 per share as services are performed. The Company concluded the engagement in February 2004. The options were exercisable immediately and expired on March 26, 2007. Accordingly, the Company recorded $29,000 as stock compensation expense in 2003 on the 2,500 options that vested as of December 31, 2003 and an additional stock compensation expense of $23,000 in 2004 on the 10,000 options that vested in January and February 2004. The stock compensation expense was determined based on a fair market value of the options when the options were earned. These options expired unexercised in 2007. In April 2004, the Company entered into an agreement with an investor relations firm. The agreement obligated the Company to pay a monthly retainer and issue options at a rate of 834 per month up to a maximum of 10,000 options exercisable at $30.96 per share as services are performed. During 2004, 7,500 options were earned but not issued. During 2005, 2,500 options were earned and the full 10,000 options were issued. The Company recorded $67,000 in 2004 and $14,000 in 2005 as stock compensation expense related to this agreement. The stock compensation expense was determined based on the fair market value of the options when the options were earned. The options were exercisable immediately and expired three years from the agreement date. These options expired unexercised in 2007. In November 2005, the Company issued 834 options to a member of the Scientific Advisory Board for consulting services. The options were exercisable immediately at $15.66 per share. These options were valued using the Black-Scholes option-pricing model based on a grant date fair value of the Company’s common stock of $8.10 per share which was the fair market value at the date of the grant. The Company recorded a $7,000 charge to stock compensation expense in 2005 related to this award. These options expired unexercised in 2010. In March 2006 the Company issued 2,500 options to a consultant for consulting services, of which 834 of the options were exercisable immediately, 833 options vested in March 2008 and 833 options vested in March 2009. The options are exercisable at $22.50 per share. These options were valued using the Black-Scholes option-pricing model based on a grant date fair value of the Company’s common stock of $13.20 per share which was the fair market value at the date of the grant. The Company recorded a $33,000 charge to stock compensation expense over the vesting period of the options. In December 2007, the Company issued 834 options to a consultant for consulting services. The options were exercisable immediately at $3.78 per share. These options were valued using the Black-Scholes option-pricing model based on a grant date fair value of the Company’s common stock of $2.76 per share which was the fair market value at the date of the grant. The Company recorded a $2,000 charge to stock compensation expense in 2007 related to this award. In April 2008, the Company issued 8,000 options to a consultant for consulting services. The options were exercisable immediately at $2.64 per share. These options were valued using the Black-Scholes option-pricing model based on a grant date fair value of the Company’s common stock of $2.34 per share which was the fair market value at the date of the grant. The Company recorded a $15,000 charge to stock compensation expense in 2008 related to this award. In February 2009, the Company issued 33,334 options to a consultant for consulting services. The options were exercisable immediately at $0 per share. These options were valued using the Black-Scholes option-pricing model based on a grant date fair value of the Company’s common stock of $0.72 per share which was the fair market value at the date of the grant. The Company recorded a $24,000 charge to stock compensation expense in 2009 related to this award. During the year ended December 31, 2012, the Company modified the terms of certain option grants for four employees to extend the exercisable period from ninety days post-employment to the remaining legal life of the option grant. During the year ended December 31, 2012, the Company modified certain cashless exercise terms for one employee. The modification of these option terms resulted in additional stock-based compensation expense of $271,000 during the year ended December 31, 2012. During the year ended December 31, 2011, the Company modified the options of one employee to extend the exercisable period post-employment from ninety days to the remaining legal life of the option, resulting in additional stock-based compensation expense of $63,000. In May 2012, the Company granted 7,000 shares of common stock to a consultant for payment of past services. These shares of common stock were valued at $16,000, based on the market value of the shares at the date of grant and are included in stock based compensation expense for the year ended December 31, 2012. In August 2012, the Company granted 4,348 shares of common stock to a consultant for payment of services. These shares of common stock were valued at $10,000, based on the market value of the shares at the date of grant and are included in stock based compensation expense for the year ended December 31, 2012. Restricted Stock During the year ended December 31, 2009, the Company granted 416,670 shares of restricted common stock to members of its Board of Directors. These shares were restricted and any unvested shares were subject to forfeiture upon termination and would revert back to the Company. Of the 416,670 shares, 390,628 were vested as of December 31, 2010, and the final 26,042 vested in 2011. The restricted shares were valued at $450,000 ($1.08 per share) at the date of grant and were recognized over the vesting period. During 2011, the Company recognized stock-based compensation of $18,000 related to these restricted stock grants. In 2011, the Company issued 20,834 shares of restricted common stock to a consultant. These shares were restricted until November 15, 2011 and any unvested shares were subject to forfeiture upon termination and would revert back to the Company. At December 31, 2011 there no restricted shares remaining. The restricted shares were valued at $113,000 ($5.40 per share) at November 15, 2011, and the Company recognized expense of $110,000 during 2011 related to these shares.
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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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Fair Value of Financial Instruments
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Fair Value of Financial Instruments |
A summary of changes in the Warrant Liabilities is as follows:
The warrant liabilities in the table above were classified as a Level 2 liability and were valued using the Black-Scholes pricing model. |
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- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Loss Per Share
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Dec. 31, 2012
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Loss Per Share |
Basic net loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares and other potential common shares then outstanding. Potential common shares consist of common shares issuable upon the assumed exercise of in-the-money stock options and warrants and potential common shares related to the conversion of the preferred stock. The computation of diluted net loss per share does not assume the issuance of common shares that have an anti-dilutive effect on net loss per share.
Dilutive shares which could exist pursuant to the exercise of outstanding stock instruments and which were not included in the calculation because their affect would have been anti-dilutive during are as follows:
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- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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Commitments and Contingencies |
Lease Commitments In September 2012, the Company entered into an operating lease for office space in Norcross, GA for a term of twenty-six months, beginning on October 1, 2012 and ending November 30, 2014 at a rate of $3,000 per month. The lease provides for free rent for the first two months of the lease and required a security deposit of $6,000. In addition to base rental payments included in the contractual obligations table above, we are responsible for our pro-rata share of the operating expenses for the building. In October 2012, the Company entered into an operating lease for office space collocated with lab space for research and development activities. The lease is for a period of one year, beginning on October 1, 2012, for a rate of $15,000 for the term, payable in equal monthly increments. In July 2011, the Company entered into an agreement to amend its lease for offices in Newton, MA to extend the term for a period of one year, which expired on September 30, 2012, at a base rent of $235,000 for the period. In addition to base rental payments, the Company was responsible for its pro-rata share of increases in the operating expenses for the building. In connection with this lease, a commercial bank issued a letter of credit collateralized by cash, which the Company had on deposit with the bank of $59,000 at December 31, 2011 and which was released during 2012 after the lease term ended. In July 2011, the Company entered into an operating lease for an apartment for Company executive use for a one-year term, which ended in August 2012, at a rate of $44,000 for the term. Rent expense under the above operating leases was $216,000 and $293,000 for the years ended December 31, 2012 and 2011, respectively. Future minimum payments under this lease as of December 31, 2012 are as follows (in thousands):
Separation Agreement—Former Chief Executive Officer and Chairman of the Board of Directors In February 2009, the Company entered into a Separation Agreement in connection with the resignation of David Platt, Ph.D., the Company’s former Chief Executive Officer and Chairman of the Board of Directors. The Separation Agreement provides for the deferral of a $1.0 million separation payment due to Dr. Platt upon the earlier occurrence of any of the following milestone events: (i) the approval by the Food and Drug Administration for a new drug application (“NDA”) for any drug candidate or drug delivery candidate based on the Company’s GM-CT-01 technology (whether or not such technology is patented), in which case Dr. Platt is also entitled to a fully vested 10-year cashless-exercise stock option to purchase at least 83,334 shares of common stock at an exercise price not less than the fair market value of the common stock determined as of the date of grant; (ii) consummation of a transaction with a pharmaceutical company expected to result in at least $10.0 million of equity investment or $50 million of royalty revenue to the Company, in which case Dr. Platt is also entitled to stock options on the same terms to purchase at least 50,000 shares of common stock; or (iii) the renewed listing of the Company’s securities on a national securities exchange and the achievement of a market capitalization of $100 million. Payment upon the events (i) and (iii) may be deferred up to six months, and if the Company has insufficient cash at the time of any of such events, it may issue Dr. Platt a secured promissory note for such amount. If the Company files a voluntary or involuntary petition for bankruptcy, whether or not a milestone event has occurred, such event shall trigger the obligation to pay the $1.0 million with the result that Dr. Platt may assert a claim for such obligation against the bankruptcy estate. During 2011, when it became probable that the Company could be relisted on a national securities exchange and eventually reach a market capitalization of $100 million, the Company recognized the $1.0 million severance payment due to Dr. Platt and it is included in accrued expenses at December 31, 2012 and December 31, 2011. On May 2, 2012, Dr. Platt instituted arbitration before the American Arbitration Association, seeking a $1.0 million separation payment based on a claim that a milestone event in the Separation Agreement has occurred (see clause (iii) above). On March 22, 2012, the Company’s common stock was listed on the NASDAQ Capital Markets, but since that date, the stock has not achieved the required market capitalization. Therefore, it is the Company’s position that a milestone event has not yet occurred. The arbitration hearing was held on October 16 - 17, 2012 and on November 1, 2012, the arbitrator denied Dr. Platt’s demand in all respects. Insofar as the Company does not dispute its obligations under the Separation Agreement to pay Dr. Platt upon the occurrence of a milestone event, it has recorded the payment as an accrued expense payable if and when the milestone event occurs. On October 12, 2012, Dr. Platt commenced a lawsuit under the Massachusetts Wage Act against Dr. Traber and Mr. McGauley who in their capacities as the Company’s Chief Executive Officer and Chief Financial Officer respectively can be held individually liable under the Wage Act for non-payment of wages. The lawsuit is based on the facts and issues raised in the arbitration regarding the payment of the $1.0 million separation payment under the Separation Agreement, and other unspecified “wages”. The statute provides that a successful claimant may be entitled to multiple damages, interest and attorneys fees. Although the Company is not a party to the lawsuit, it plans to indemnify Dr. Traber and Mr. McGauley consistent with its obligations under the by-laws and applicable law, believes the lawsuit is without merit, and intends a vigorous defense on their behalf. On March 29, 2013, the Company instituted arbitration before the American Arbitration Association, seeking to rescind or reform the Separation Agreement discussed above. The Company claims that Dr. Platt fraudulently induced the Company to enter into the Separation Agreement, breached his fiduciary duty to the Company, and was unduly enriched from his conduct. Along with removal of the $1.0 million milestone payment provided for under the Separation Agreement, the Company is seeking repayment of all separation benefits paid to Dr. Platt to date. Depending on the outcome of the arbitration, the previously accrued $1.0 million could be reversed. The timing and ultimate outcome of this arbitration, though, is uncertain and there is no guarantee that the Company will be successful in this demand. Series C Post Conversion Dividend Rights In July 2011, 5 shares of the Company’s Series C Super Dividend Convertible Preferred Stock (“Series C”) were converted into 8,334 shares of common stock which also resulted in the issuance of 5 Series C post-conversion dividend rights (“Dividend Rights”). Under the terms of the Series C, the Dividend Rights entitle the holder only to dividend payments based on a percentage of actual sales of GM-CT-01 but not, following a conversion to common stock, the 6% dividend payable on outstanding shares of Series C. At December 31, 2012, the outstanding Dividend Rights were determined to have a de minimis value, because payment of a dividend for the Dividend Rights is considered improbable at this time and the Company has not recorded a liability related to the Dividend Rights. The Company will continue to evaluate and assess the Dividend Rights for each reporting period. Other Legal Proceedings The Company records accruals for such contingencies to the extent that the Company concludes that their occurrence is probable and the related damages are estimable. There are no other pending legal proceedings except as noted above. |
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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 Taxes |
The components of the net deferred tax assets are as follows at December 31:
The primary factors affecting the Company’s income tax rates were as follows:
As of December 31, 2012, the Company has federal and state net operating loss carryforwards totaling $60,886,000 and $25,160,000 respectively, which expire through 2032. The net operating losses include Federal and State excess benefits related to stock options of $707,000 that will be charged to additional paid-in capital when utilized. In addition, the Company has federal and state research and development credits of $223,000 and $143,000, respectively, which expire through 2032. Ownership changes, as defined by Section 382 of the Internal Revenue Code, may have limited the amount of net operating loss carryforwards that can be utilized annually to offset future taxable income. Subsequent ownership changes could further affect the limitation in future years. Because of the Company’s limited operating history and its recorded losses, management has provided, in each of the last two years, a 100% valuation allowance against the Company’s net deferred tax assets. On January 3, 2013, the American Taxpayer Relief Act of 2012 was signed into law reinstating the federal research and development credit for the 2012 and 2013 years. Under ASC 740-10-25 the effects are recognized as a component of income tax expense or benefit from continuing operations in the financial statements for the interim or annual period that includes the enactment date. The benefit related to the 2012 federal research and development credit $61,000 will be recorded during 2013. At December 31, 2012 the Company has $1,082,000 of unrecognized tax benefits, $923,000 of which would affect the effective tax rate. The Company has not recognized an adjustment to the deficit accumulated during the development stage for unrecognized tax benefits because a full valuation allowance has been recorded against net operating loss carry forwards. Since the Company’s net deferred tax assets and the unrecognized tax benefits would not result in a cash payment, the Company has not accrued for any interest and penalties relating to these unrecognized tax benefits. Should the Company incur interest and penalties related to income taxes, those amounts would be included in income tax expense. Total amounts of unrecognized tax benefits are not expected to significantly increase or decrease within 12 months of the reporting date.
The Company is subject to taxation in the U.S. and various states. Based on the history of net operating losses all jurisdictions and tax years are open for examination until the operating losses are utilized or the statute of limitations expires. |
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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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Subsequent Events
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Dec. 31, 2012
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Subsequent Events |
The Company has evaluated all events or transactions that occurred through the date on which the financial statements were issued, noting the following: Agreement with CTI for Phase I Clinical Trial On February 1, 2013, the Company entered into an Amended and Restated Master Services Agreement (the “Agreement”) with CTI Clinical Trial Services, Inc. and CTI Clinical Consulting Services, Inc. (individually and collectively, “CTI”), whereby CTI will assist the Company in the design, development and conduct of one or more clinical research studies from time to time. All work performed by CTI for the Company will be conducted pursuant to the terms of work orders that describe the specific obligations undertaken by CTI with respect to any particular clinical research study sponsored or conducted by the Company. Unless otherwise terminated sooner in accordance with the terms of the Agreement, the Agreement will be effective until January 31, 2018. On February 1, 2013, the Company entered into a work order (the “Work Order”) with CTI in accordance with the terms of the Agreement. The Work Order provides that CTI will provide services with respect to the Company’s Phase I Clinical Trial to evaluate the safety of the Company’s drug GR-MD-02 in subjects with Non-Alcoholic Steatohepatitis (“NASH”) with advanced hepatic fibrosis. CTI will provide the following services, amongst others, with respect to the Work Order: reviewing and providing notices regarding IND safety reports, selecting investigators and monitors for the study, informing investigators of new observations, monitoring the progress of the study and reviewing ongoing investigations, keeping certain records, inspecting the Company’s records and reports, and disposing of any unused supply of the investigational drug. The Work Order provides for CTI’s anticipated involvement in the study from February 1, 2013 until March 31, 2014. The estimated budget for the Work Order is $2,155,000, which is subject to change as necessary, with payments made throughout the term of the project as the work is performed. The Agreement or any work order may be terminated for any reason by any party upon ninety (90) days prior written notice to the other party. In addition, the Agreement may be terminated by either party immediately if the other party becomes insolvent, is dissolved or liquidated, makes a general assignment for the benefit of its creditors, files or has filed against it (and does not obtain a dismissal within ninety (90) days) a petition of bankruptcy, or has a receiver appointed for it or a substantial part of its assets, among other reasons. Further, the Agreement or any relevant work order may be terminated immediately by written notice from the Company, in the following circumstances: (1) the FDA withdraws authorization and approval to conduct a study; or (2) the Company reasonably determines that for medical, clinical or patient safety reasons, a study should terminate immediately. In addition, either party may terminate the Agreement or any work order for material breach upon thirty (30) days’ written notice specifying the nature of the breach, if such breach has not been substantially cured within the thirty (30) day period. Drug Discovery Program with the University of Georgia In February 2013, the Company established a collaborative drug discovery program at the Complex Carbohydrate Research Center at the University of Georgia. This program is focused on the discovery of new carbohydrate molecules that can be used in the therapy of diseases where galectin proteins play a major role, including cancer and inflammatory and fibrotic disorders. The term of the agreement is effective through December 31, 2013, for which the Company will provide funding of $154,000. |
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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. No definition available.
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Summary of Significant Accounting Policies (Policies)
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12 Months Ended |
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Dec. 31, 2012
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Basis of Consolidation | Basis of Consolidation. The consolidated financial statements include the accounts of the Company and Galectin Therapeutics Security Corp., its wholly-owned subsidiary, which was incorporated in Delaware on December 23, 2003. Galectin Therapeutics Security Corp. holds the cash and cash equivalents that are not required to fund current operating needs. All intercompany transactions have been eliminated. |
Use of Estimates | Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and judgments that may affect the reported amounts of assets, liabilities, equity, revenue, expenses and related disclosure of contingent assets and liabilities. Management’s estimates and judgments include assumptions used in stock option and warrant liability valuations, useful lives of property and equipment and intangible assets, accrued liabilities, deferred income taxes and various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions. |
Fair Value Measurements | Fair Value Measurements. The Company has certain financial assets and liabilities recorded at fair value. Fair values determined by Level 1 inputs utilize observable data such as quoted prices in active markets. Fair values determined by Level 2 inputs utilize data points other than quoted prices in active markets that are observable either directly or indirectly. Fair values determined by Level 3 inputs utilize unobservable data points in which there is little or no market data, which require the reporting entity to develop its own assumptions. The estimated value of accounts payable and accrued expenses approximates their carrying value due to their short-term nature using level 3 inputs as defined above. Included in cash and cash equivalents, as of December 31, 2012 and 2011, the Company had $583,000 and $6,123,000, respectively, invested in money market funds which had calculated net asset values and were therefore classified as Level 2. |
Cash and Cash Equivalents | Cash and Cash Equivalents. The Company considers all highly-liquid investments with original maturities of 90 days or less at the time of acquisition to be cash equivalents. |
Prepaid Expenses and Other Current Assets | Prepaid Expenses and Other Current Assets. Prepaid expenses and other assets consist principally of prepaid insurance and prepaid rent on the Company’s leased executive office space. |
Property and Equipment | Property and Equipment. Property and equipment, including leasehold improvements, are stated at cost, net of accumulated depreciation, and are depreciated using the straight-line method over the estimated useful lives of the related assets of generally three years for computers and office equipment, five years for furniture and fixtures and the shorter of the useful life or life of the lease for leasehold improvements. |
Restricted Cash and Security Deposit | Restricted Cash and Security Deposit. Restricted cash consists of security deposits principally for a real estate lease at December 31, 2011. At December 31, 2012, the Company had a security deposit of $6,000 for leased office space. |
Intangible Assets | Intangible Assets. Intangible assets include patent costs, consisting primarily of related capitalized legal fees, which are amortized over an estimated useful life of five years from issuance. Amortization expense in 2012 and 2011 was $6,000 and $3,000, respectively. Gross intangible assets at December 31, 2012 and 2011 totaled $78,000 each year, and accumulated amortization at December 31, 2012 and 2011 totaled $48,000 and $42,000, respectively. |
Long-Lived Assets | Long-Lived Assets. The Company reviews all long-lived assets for impairment whenever events or circumstances indicate the carrying amount of such assets may not be recoverable. Recoverability of assets to be held or used is measured by comparison of the carrying value of the asset to the future undiscounted net cash flows expected to be generated by the asset. If such asset is considered to be impaired, the impairment recognized is measured by the amount by which the carrying value of the asset exceeds the discounted future cash flows expected to be generated by the asset. |
Warrants | Warrants. The Company has issued common stock warrants in connection with the execution of certain equity and debt financings. Certain warrants were accounted for as derivative liabilities at fair value. Such warrants did not meet the accounting criteria that a contract should not be considered a derivative instrument if it is (1) indexed to its own stock and (2) classified in stockholders’ equity. Changes in fair value of derivative liabilities are recorded in the consolidated statement of operations under the caption “Change in fair value of warrant liabilities.” Warrants that are not considered derivative liabilities are accounted for at fair value at the date of issuance in additional paid-in capital. The fair value of warrants was determined using the Black-Scholes option-pricing model. There were no warrant liabilities as of December 31, 2012 or 2011. |
Revenue Recognition | Revenue Recognition. The Company records revenue provided that there is persuasive evidence that an arrangement exists, the price is fixed and determinable, services were rendered and collectability is reasonably assured. |
Research and Development Expenses | Research and Development Expenses. Costs associated with research and development are expensed as incurred. Research and development expenses include, among other costs, salaries and other personnel-related costs, and costs incurred by outside laboratories and other accredited facilities in connection with clinical trials and preclinical studies. |
Income Taxes | Income Taxes. The Company accounts for income taxes in accordance with the accounting rules that requires an asset and liability approach to accounting for income taxes based upon the future expected values of the related assets and liabilities. Deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and for tax loss and credit carry forwards, and are measured using the expected tax rates estimated to be in effect when such basis differences reverse. Valuation allowances are established, if necessary, to reduce the deferred tax asset to the amount that will, more likely than not, be realized. |
Comprehensive Income (Loss) | Comprehensive Income (Loss). Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The Company does not have any items of comprehensive income (loss) other than net losses as reported. |
Concentration of Credit Risk | Concentration of Credit Risk. Financial instruments that subject the Company to credit risk consist of cash and cash equivalents and certificates of deposit. The Company maintains cash and cash equivalents and certificates of deposit with well-capitalized financial institutions. At times, those amounts may exceed federally insured limits. The Company has no significant concentrations of credit risk. |
Stock-Based Compensation | Stock-Based Compensation. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the service period, which generally represents the vesting period. For awards that have performance based vesting conditions the Company recognizes the expense over the estimated period that the awards are expected to be earned. The Company generally uses the Black-Scholes option-pricing model to calculate the grant date fair value of stock options. For options that only vest upon the achievement of market conditions, the Company values the options using a Monte Carlo model to calculate the grant date fair value of the stock options. The expense related to options that vest based on market conditions is not reversed should those options not ultimately vest. The expense recognized over the service period is required to include an estimate of the awards that will be forfeited. |
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- Definition
Prepaid Expenses and Other, Policy No definition available.
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- 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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- Definition
Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to employees, including equity-based arrangements; discloses methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for comprehensive income. No definition available.
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- Definition
Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for fair value measurements, which may include, but is 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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
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- 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
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- 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
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- Definition
Disclosure of accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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
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- 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
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- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property and Equipment (Tables)
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Property and Equipment | Property and equipment consists of the following at December 31:
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- Definition
Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Expenses (Tables)
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Dec. 31, 2012
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Accrued Expenses | Accrued expenses consist of the following at December 31:
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Tabular disclosure of the components of accrued liabilities. No definition available.
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Stockholders' Deficit (Tables)
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Return on Investment | The ROI Percentage shall mean the percentage that applies as of the redemption date, as follows:
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- Definition
Schedule Of Equity And Other Investments Table No definition available.
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Warrants and Warrant Liabilities (Tables)
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Dec. 31, 2012
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Summary of Warrant Activity | Warrant activity is summarized as follows:
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Summary of Information with Regard to Outstanding Warrants Issued in Connection with Equity and Debt Financings and Consultants | The following table summarizes information with regard to outstanding warrants issued in connection with equity and debt financings and consultants as of December 31, 2012.
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X | ||||||||||
- Definition
Schedule of Stockholders' Equity Note, Warrants and Common Stock Activity 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-Based Compensation (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Stock-Based Compensation Expense Related to Common Stock Options, Restricted Common Stock and Common Stock Warrants | Following is the stock-based compensation expense related to common stock options, restricted common stock and common stock warrants:
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Weighted Average Assumptions Used to Determine Fair Value of Options Granted | The fair value of the options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used:
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Summary of Stock Option Activity | The following table summarizes the stock option activity in the stock based compensation plans:
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Unvested Restricted Shares |
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X | ||||||||||
- Definition
Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. 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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Fair Value of Financial Instruments (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Changes in Warrant Liabilities | A summary of changes in the Warrant Liabilities is as follows:
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X | ||||||||||
- Definition
Schedule Of Changes In Fair Value Of Warrant Liability No definition available.
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Loss Per Share (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Computation of Diluted Net Loss Per Share does not Assume Issuance of Common Shares that have an Anti-dilutive Effect on Net Loss Per Share | The computation of diluted net loss per share does not assume the issuance of common shares that have an anti-dilutive effect on net loss per share.
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Dilutive Shares Which Could Exist Pursuant to Exercise of Outstanding Stock Instruments and Which were not Included in Calculation | Dilutive shares which could exist pursuant to the exercise of outstanding stock instruments and which were not included in the calculation because their affect would have been anti-dilutive during are as follows:
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X | ||||||||||
- Definition
Schedule Of Computation Of Basic And Diluted Earnings Per Share Table No definition available.
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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
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Commitments and Contingencies (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Future Minimum Payments of Operating Lease | Future minimum payments under this lease as of December 31, 2012 are as follows (in thousands):
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X | ||||||||||
- Definition
Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Components of Net Deferred Tax Assets | The components of the net deferred tax assets are as follows at December 31:
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Primary Factors Affecting Income Tax Rates | The primary factors affecting the Company’s income tax rates were as follows:
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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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Nature of Business and Basis of Presentation - Additional Information (Detail) (USD $)
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1 Months Ended | 12 Months Ended | 150 Months Ended | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 23, 2012
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Mar. 28, 2012
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May 10, 2010
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Apr. 30, 2010
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Mar. 08, 2010
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Jan. 29, 2010
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Dec. 08, 2009
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Nov. 04, 2009
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Sep. 30, 2009
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Aug. 12, 2009
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Jun. 30, 2009
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May 13, 2009
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Feb. 12, 2009
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Feb. 25, 2008
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2012
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Dec. 31, 2010
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Dec. 30, 2010
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Jul. 02, 2008
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Feb. 04, 2008
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May 31, 2003
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Dec. 31, 2002
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Aug. 31, 2001
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Basis of Presentation [Line Items] | ||||||||||||||||||||||||
Reverse stock split ratio | 1.6667 | |||||||||||||||||||||||
Exercise price of warrant | 7.20 | 6.00 | 9.00 | 32.40 | 21.00 | 39.00 | ||||||||||||||||||
Net proceeds from issuance of stock and warrants | $ 10,403,000 | $ 536,000 | $ 297,000 | $ 322,000 | $ 308,000 | $ 310,000 | $ 296,000 | $ 305,000 | $ 287,000 | $ 473,000 | $ 801,000 | $ 1,548,000 | $ 3,381,000 | |||||||||||
Unrestricted cash and cash equivalents | 9,364,000 | 6,397,000 | 9,364,000 | 5,891,000 | ||||||||||||||||||||
Net losses applicable to common stockholders | (10,881,000) | (12,713,000) | (80,272,000) | |||||||||||||||||||||
Net total capital through sale and issuance of common stock and warrants | 1,044,000 | 68,800,000 | ||||||||||||||||||||||
Net cash used in operating activities | (7,500,000) | (5,676,000) | (58,553,000) | |||||||||||||||||||||
Common Stock
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Basis of Presentation [Line Items] | ||||||||||||||||||||||||
Issuance of common stock and warrants | 2,666,722 | |||||||||||||||||||||||
Warrants to purchase shares of common stock | 1,333,361 | |||||||||||||||||||||||
Warrant
|
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Basis of Presentation [Line Items] | ||||||||||||||||||||||||
Exercise price of warrant | 5.63 | |||||||||||||||||||||||
Common Stock and Warrants
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Basis of Presentation [Line Items] | ||||||||||||||||||||||||
Gross proceeds from issuance of stock and warrants | 12,000,000 | |||||||||||||||||||||||
Net proceeds from issuance of stock and warrants | $ 10,403,000 | |||||||||||||||||||||||
Reverse Split
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Basis of Presentation [Line Items] | ||||||||||||||||||||||||
Reverse stock split ratio | 1.6667 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Gross Proceeds from Issuance of Common Stock and Warrants No definition available.
|
X | ||||||||||
- Definition
Issuance Of Common Stock And Warrants, Shares No definition available.
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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
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X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This item represents the conversion ratio used in the calculation of a stock split. 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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Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)
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12 Months Ended | |
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Dec. 31, 2012
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Dec. 31, 2011
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Significant Accounting Policies [Line Items] | ||
Security deposit for leased office space | $ 6,000 | |
Estimated useful lives of intangible assets | 5 years | |
Amortization expense of intangible assets | 6,000 | 3,000 |
Gross intangible assets | 78,000 | 78,000 |
Accumulated amortization of intangible assets | 48,000 | 42,000 |
Fair Value, Inputs, Level 2 | Money market funds
|
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Significant Accounting Policies [Line Items] | ||
Money market funds | $ 583,000 | $ 6,123,000 |
Computer and office equipment
|
||
Significant Accounting Policies [Line Items] | ||
Estimated useful lives of property and equipment | 3 years | |
Furniture and fixtures
|
||
Significant Accounting Policies [Line Items] | ||
Estimated useful lives of property and equipment | 5 years |
X | ||||||||||
- Details
|
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
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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
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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
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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
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
|
Agreement with Procaps S.a. and Research Grants - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 150 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2012
|
|
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Deferred revenue | $ 200 | |||
Federal grants award | 200 | 489 | 691 | |
Federal grant received | $ 234 | $ 255 |
X | ||||||||||
- Details
|
X | ||||||||||
- 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
|
X | ||||||||||
- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. 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
|
Property and Equipment (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 74 | $ 321 |
Less accumulated depreciation | (66) | (315) |
Property and equipment-net | 8 | 6 |
Leasehold improvements
|
||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 2 | 15 |
Computer and office equipment
|
||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 13 | 199 |
Furniture and fixtures
|
||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 59 | $ 107 |
X | ||||||||||
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount of long-lived 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, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived 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, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Property and Equipment - Additional Information (Detail) (USD $)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 3,000 | $ 6,000 |
X | ||||||||||
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Accrued Expenses (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
Feb. 28, 2009
|
---|---|---|---|
Schedule of Accrued Liabilities [Line Items] | |||
Legal and accounting fees | $ 109 | $ 69 | |
Accrued compensation | 42 | 385 | 1,000 |
Severance agreement (Note 11) | 1,000 | 1,000 | |
Other | 10 | 97 | |
Total | $ 1,161 | $ 1,551 |
X | ||||||||||
- Definition
Accrued Separation Agreement No definition available.
|
X | ||||||||||
- Details
|
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
Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. 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
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. 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
|
Stockholders' Deficit - Additional Information (Detail) (USD $)
|
1 Months Ended | 3 Months Ended | 12 Months Ended | 150 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 150 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 16 Months Ended | 12 Months Ended | 150 Months Ended | 1 Months Ended | 12 Months Ended | 16 Months Ended | 12 Months Ended | 150 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 150 Months Ended | 12 Months Ended | 150 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 150 Months Ended | 12 Months Ended | 150 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 22, 2012
|
Mar. 23, 2012
|
Mar. 28, 2012
|
Jul. 31, 2011
|
Dec. 30, 2010
|
May 10, 2010
|
Apr. 30, 2010
|
Mar. 08, 2010
|
Jan. 29, 2010
|
Dec. 08, 2009
|
Nov. 04, 2009
|
Sep. 30, 2009
|
Aug. 12, 2009
|
Jun. 30, 2009
|
May 13, 2009
|
Feb. 12, 2009
|
Jul. 02, 2008
|
May 21, 2008
|
Feb. 25, 2008
|
Feb. 04, 2008
|
May 31, 2003
|
Jan. 31, 2003
|
Jan. 14, 2003
|
Sep. 30, 2002
|
Aug. 31, 2001
|
Jun. 30, 2008
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2002
|
Dec. 31, 2001
|
Dec. 31, 2012
|
Dec. 26, 2008
|
Jan. 14, 2003
Advisor
|
Dec. 31, 2002
Advisor
|
Jan. 14, 2003
Finder and Finder's Agents
|
Dec. 31, 2002
Finder and Finder's Agents
|
Jan. 14, 2003
Employee
|
Dec. 31, 2003
Employee
|
Dec. 31, 2002
Employee
|
Dec. 31, 2003
Scientific Advisory Services
|
Dec. 31, 2002
Scientific Advisory Services
|
Dec. 31, 2011
Series B Directors
Person
|
Dec. 31, 2011
Series B Nominees
Person
|
Dec. 31, 2011
Additional Paid-In Capital
|
Dec. 31, 2012
Additional Paid-In Capital
|
Dec. 31, 2011
Minimum
|
Dec. 31, 2011
Maximum
|
Dec. 31, 2011
Maximum
Series B Nominees
Person
|
Dec. 31, 2002
Public Offering
|
Dec. 13, 2001
Public Offering
|
Aug. 12, 2004
Institutional Investors
|
Apr. 07, 2004
Institutional Investors
|
Oct. 02, 2003
Institutional Investors
|
Aug. 12, 2004
Placement Agent
|
Apr. 07, 2004
Placement Agent
|
Oct. 02, 2003
Placement Agent
|
Mar. 22, 2012
Underwriting Agreement
|
Dec. 31, 2001
Warrant one
|
Dec. 31, 2001
Warrant two
|
Feb. 04, 2008
Warrant
|
Dec. 31, 2011
Warrant
|
Dec. 31, 2011
Series A and B Warrants
|
Dec. 31, 2011
Series A One Warrant
|
Dec. 31, 2011
Series A Two Warrant
|
Feb. 25, 2008
Warrant three
|
Feb. 25, 2008
Warrant three
Placement Agent
|
Feb. 25, 2008
Warrant 4
|
Feb. 25, 2008
Warrant 5
|
Feb. 25, 2008
Warrant 6
|
Mar. 22, 2012
Warrant 7
|
Mar. 28, 2012
Warrant 7
|
Apr. 30, 2009
Warrant 7
|
Dec. 31, 2012
Series A Redeemable Convertible Preferred Stock
|
Feb. 12, 2009
Series B-1 12% Redeemable Convertible Preferred Stock
|
Dec. 31, 2012
Series B-1 12% Redeemable Convertible Preferred Stock
|
Dec. 31, 2009
Series B-1 12% Redeemable Convertible Preferred Stock
|
May 31, 2010
Series B-1 12% Redeemable Convertible Preferred Stock
|
Dec. 31, 2012
Series B-1 12% Redeemable Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2011
Series B-1 12% Redeemable Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2012
Series B-1 12% Redeemable Convertible Preferred Stock
Additional Paid-In Capital
|
Feb. 12, 2009
Series B-1 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Feb. 12, 2009
Series B-1 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Feb. 12, 2009
Series B-1 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
May 10, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
|
Apr. 30, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
|
Mar. 08, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
|
Jan. 29, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
|
Dec. 08, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
|
Nov. 04, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
|
Sep. 30, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
|
Aug. 12, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
|
Jun. 30, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
|
May 13, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
|
Dec. 31, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
|
Dec. 31, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
|
May 31, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
|
Dec. 31, 2012
Series B-2 12% Redeemable Convertible Preferred Stock
|
Dec. 31, 2012
Series B-2 12% Redeemable Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2011
Series B-2 12% Redeemable Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2012
Series B-2 12% Redeemable Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Beneficial Conversion Feature
|
Dec. 31, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Beneficial Conversion Feature
|
Dec. 31, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Minimum
|
Dec. 31, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Minimum
|
Dec. 31, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Maximum
|
Dec. 31, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Maximum
|
May 10, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Apr. 30, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Mar. 08, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Jan. 29, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Dec. 08, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Nov. 04, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Sep. 30, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Aug. 12, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
Jun. 30, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
May 13, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A One Warrants
|
May 10, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Apr. 30, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Mar. 08, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Jan. 29, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Dec. 08, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Nov. 04, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Sep. 30, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Aug. 12, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
Jun. 30, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
May 13, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class A Two Warrants
|
May 10, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Apr. 30, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Mar. 08, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Jan. 29, 2010
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Dec. 08, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Nov. 04, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Sep. 30, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Aug. 12, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Jun. 30, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
May 13, 2009
Series B-2 12% Redeemable Convertible Preferred Stock
Class B Warrants
|
Jul. 31, 2011
Series C Super Dividend Convertible Preferred Stock
|
Dec. 30, 2010
Series C Super Dividend Convertible Preferred Stock
|
Dec. 31, 2012
Series C Super Dividend Convertible Preferred Stock
|
Dec. 31, 2011
Series C Super Dividend Convertible Preferred Stock
|
Dec. 31, 2012
Series C Super Dividend Convertible Preferred Stock
|
Dec. 29, 2010
Series C Super Dividend Convertible Preferred Stock
|
Dec. 31, 2012
Series C Super Dividend Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2011
Series C Super Dividend Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2012
Series C Super Dividend Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2011
Series C Super Dividend Convertible Preferred Stock
Minimum
|
Dec. 31, 2011
Series C Super Dividend Convertible Preferred Stock
Maximum
|
Dec. 31, 2011
Series C Super Dividend Convertible Preferred Stock
Series A Preferred Stock
|
Dec. 31, 2011
Series C Super Dividend Convertible Preferred Stock
Series B One Preferred Stock
|
Dec. 31, 2011
Series C Super Dividend Convertible Preferred Stock
First Payment
|
Dec. 31, 2011
Series C Super Dividend Convertible Preferred Stock
Second Payment
|
Mar. 29, 2013
Series C Super Dividend Convertible Preferred Stock
Subsequent Event
|
Jan. 31, 2013
Series C Super Dividend Convertible Preferred Stock
Subsequent Event
|
Feb. 04, 2008
Series A 12% Convertible Preferred Stock
|
Dec. 31, 2011
Series A 12% Convertible Preferred Stock
|
Dec. 31, 2008
Series A 12% Convertible Preferred Stock
|
Dec. 31, 2012
Series A 12% Convertible Preferred Stock
|
Dec. 31, 2012
Series A 12% Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2011
Series A 12% Convertible Preferred Stock
Additional Paid-In Capital
|
Dec. 31, 2012
Series A 12% Convertible Preferred Stock
Additional Paid-In Capital
|
Feb. 04, 2008
Series A 12% Convertible Preferred Stock
Minimum
|
Dec. 31, 2007
Series A 12% Convertible Preferred Stock
Period 1
|
Dec. 31, 2008
Series A 12% Convertible Preferred Stock
Period 2
|
Feb. 04, 2008
Series A 12% Convertible Preferred Stock
First Payment
|
Feb. 04, 2008
Series A 12% Convertible Preferred Stock
Second Payment
|
Feb. 04, 2008
Series A 12% Convertible Preferred Stock
Scenario 1
|
Feb. 04, 2008
Series A 12% Convertible Preferred Stock
Scenario 2
|
Feb. 12, 2009
Series B Preferred Stock
|
Dec. 31, 2011
Series B Preferred Stock
|
Jan. 31, 2011
Series B Preferred Stock
|
Jan. 31, 2011
Series B Preferred Stock
Minimum
|
|
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Undesignated stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Undesignated stock, designated | 8,001,000 | 8,001,000 | 8,001,000 | 5,000,000 | 900,000 | 2,100,000 | 1,000 | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Undesignated stock, undesignated | 11,999,000 | 11,999,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares of common stock issued | 2,666,722 | 1,250,000 | 399,917 | 181,334 | 537,227 | 114,884 | 31,000 | 333,334 | 206,019 | 219,096 | 900,000 | 900,000 | 900,000 | 285,000 | 155,000 | 167,500 | 162,500 | 162,500 | 155,000 | 162,500 | 150,000 | 250,000 | 450,000 | 770,000 | 1,330,000 | 2,100,000 | 212 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of common stock | $ 4,671,000 | $ 1,070,000 | $ 2,861,000 | $ 2,221,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuance costs | 369,000 | 128,000 | 18,000 | 212,000 | 17,000 | 3,000 | 49,000 | 485,000 | 466,000 | 559,000 | 3,000 | 47,000 | 52,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | 46,378 | 500 | 50,000 | 1,400 | 18,269 | 18,334 | 333,334 | 103,010 | 109,549 | 16,667 | 10,301 | 10,955 | 56,534 | 58,350 | 1,250,000 | 34,375 | 500,000 | 1,800,000 | 300,000 | 300,000 | 1,200,000 | 4,200,000 | 95,000 | 51,667 | 55,834 | 54,167 | 54,167 | 51,666 | 54,166 | 50,000 | 83,333 | 150,000 | 95,000 | 51,667 | 55,834 | 54,167 | 54,167 | 51,666 | 54,166 | 50,000 | 83,333 | 150,000 | 380,000 | 206,667 | 223,334 | 216,667 | 216,667 | 206,666 | 216,666 | 200,000 | 333,333 | 600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrant | 7.20 | 6.00 | 9.00 | 32.40 | 39.00 | 21.00 | 4.20 | 31.80 | 31.74 | 4.20 | 31.80 | 41.16 | 5.63 | 39.00 | 30.00 | 3.00 | 3.50 | 4.20 | 3.78 | 3.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants | 2,281,000 | 984,000 | 261,000 | 503,000 | 236,000 | 886,000 | 4,786,000 | 1,931,000 | 2,531,000 | 239,000 | 154,000 | 191,000 | 1,296,000 | 4,148,000 | 5,333,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair market value of common stock per share | $ 2.40 | $ 3.54 | $ 6.00 | $ 13.68 | $ 2.05 | $ 21.00 | $ 13.68 | $ 2.05 | $ 9.00 | $ 9.00 | $ 3.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt outstanding principal and accrued interest | 1,126,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ 12.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, shares issued | 99,705 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, warrants issued | 93,801 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock warrant term | 10 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price of common stock per share | $ 3.00 | $ 21.00 | $ 18.00 | $ 21.60 | $ 21.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | 10,403,000 | 39,093,000 | 602,000 | 5,515,000 | 3,983,000 | 4,041,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private placement, number of shares issuable | 416,667 | 1,666,667 | 238,096 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private placement, price per share | $ 12.00 | $ 6.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, subscription receivable | 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issuable for compensation | 29,042 | 417 | 28,917 | 1,625 | 125 | 1,167 | 350 | 4,226 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional share Issued | 2,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offering Cost payable | 18,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for compensation, shares | 350 | 4,226 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for compensation, value | 27,000 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expiration date of warrant | May 02, 2016 | Mar. 28, 2017 | Aug. 25, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net proceeds from issuance of stock and warrants | 10,403,000 | 536,000 | 297,000 | 322,000 | 308,000 | 310,000 | 296,000 | 305,000 | 287,000 | 473,000 | 801,000 | 1,548,000 | 3,381,000 | 1,548,000 | 1,105,000 | 1,463,000 | 2,472,000 | 1,028,000 | 1,732,000 | 388,000 | 628,000 | 1,691,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Costs for warrants issued to placement agent | 56,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of common stock issued | 1,044,000 | 68,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value assumptions, term of warrants | 5 years | 4 months | 4 years 1 month 6 days | 5 years | 5 years | 5 years | 5 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value assumptions, warrants exercise price | $ 4.20 | $ 3.78 | $ 4.20 | $ 4.20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value assumptions, risk free interest rate | 2.51% | 2.94% | 2.13% | 0.78% | 1.05% | 1.79% | 2.27% | 1.98% | 2.43% | 2.70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value assumptions, volatility rate | 95.00% | 95.00% | 95.00% | 117.00% | 119.00% | 118.00% | 126.00% | 124.00% | 129.00% | 127.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of warrant liabilities | 100,000 | 356,000 | 524,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant liability credited to additional paid in capital | 20,000 | 502,000 | 2,160,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants expired unexercised | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants expired unexercised | $ 3.78 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of warrants | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term of warrants | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Units issued | 1,333,361 | 1,159,445 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock in each units issued | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrant in each units issued | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock to be purchased with each warrant | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period of option to purchase additional units to cover over-allotments | 45 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional units authorize for issuance to cover over-allotments | 173,916 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase shares of common stock issued | 1,333,361 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of stock and warrants | 12,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issuance value | 143,000 | 4,445,000 | 4,445,000 | 9,482,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise value | 5.63 | 7,218,000 | 14,307,000 | 7,216,000 | 14,304,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse stock split ratio | 1.6667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares related to reverse split of common stock | 3,324 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, dividend rate | 6.00% | 6.00% | 12.00% | 12.00% | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock price per share | $ 10,000 | $ 6.00 | $ 9.00 | $ 12.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share of Series A Preferred in each unit issued | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrant to purchase one share of common stock in each unit issued | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend per share | $ 6.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend, percentage of value weighted average share price | 100.00% | 100.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of consecutive trading days prior to dividend payment date | 10 days | 20 days | 20 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend payable date | --03-31 | --09-30 | --03-30 | --09-30 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible stock conversion ratio | 0.1667 | 0.667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum closing price of the common stock to require conversion | $ 18.00 | $ 18.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of consecutive trading days for conversion of preferred stock | 15 days | 15 days | 15 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscription advances received | 1,742,500 | 1,667,500 | 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock issuable | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock value | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common shares issuable upon conversion of preferred stock | 600,000 | 190,000 | 103,334 | 111,667 | 108,334 | 108,333 | 103,333 | 108,333 | 100,000 | 166,666 | 300,000 | 1,667 | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issuable | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends accrue rate | 15.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible stock conversion price | $ 6.00 | $ 3.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notice period for conversion of preferred stock at the option of the company | 10 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of consecutive trading days for redemption of preferred stock | 30 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock redemption date | Feb. 12, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note, interest rate | 15.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of board of directors | 2 | 2 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum increase in number of shares issuable without approval of the holders of the majority of shares of series B outstanding | 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Termination notice period | 30 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of consecutive trading days | 15 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market value of common stock | $ 7.50 | $ 10.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value assumptions, dividend rate | 0.00% | 0.00% | 0.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock shares designated for issuance | 5,000,000 | 5,000,000 | 5,000,000 | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, stated value | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of preferred stock | 2,120,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of preferred stock, net | 2,073,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred shares | 5 | 220 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stocks issued upon conversion of Preferred Stock | 51,830 | 64,273 | 8,334 | 366,676 | 8,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend as percentage of net sales | 2.50% | 1.25% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred stock dividend | (224,000) | (378,000) | (1,034,000) | (522,000) | (881,000) | (2,022,000) | 123,000 | 33,000 | 33,000 | (127,000) | (97,000) | (224,000) | 100,000 | 241,000 | (1,000) | 47,000 | (103,000) | (180,000) | (875,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Post conversion dividend rights issued | 5 | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation preference per share after series A preferred stock | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption period | 30 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Post conversion redemption right, return on investment multiplier amount | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock redemption price | $ 3.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of trading days ending immediately prior to the date of redemption | 10 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible preferred stock, redemption value | $ 1,800,000 | $ 4,200,000 | $ 5,204,000 | $ 5,204,000 | $ 5,151,000 |
X | ||||||||||
- Definition
Change in Fair Value of Warrant Liabilities No definition available.
|
X | ||||||||||
- Definition
Class Of Warrant Or Right Issuable No definition available.
|
X | ||||||||||
- Definition
Class Of Warrant Or Right Issuable With Each New Share Of Common Stock No definition available.
|
X | ||||||||||
- Definition
Class of Warrant or Right, Issued in Period No definition available.
|
X | ||||||||||
- Definition
Class of Warrant or Right, Term No definition available.
|
X | ||||||||||
- Definition
Closing Stock Price Of Common Stock No definition available.
|
X | ||||||||||
- Definition
Common Shares Issuable upon Conversion of Convertible Stock No definition available.
|
X | ||||||||||
- Definition
Common Stock Additional Shares Issued No definition available.
|
X | ||||||||||
- Definition
Common Stock Issuable Shares, Issuable No definition available.
|
X | ||||||||||
- Definition
Common Stock Market Price No definition available.
|
X | ||||||||||
- Definition
Common Stock Warrants Issued No definition available.
|
X | ||||||||||
- Definition
Common Stock Warrants, Term No definition available.
|
X | ||||||||||
- Definition
Conversion Of Stock Conversion Price No definition available.
|
X | ||||||||||
- Definition
Dividend Accrual Rate On Investments In Affiliates No definition available.
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X | ||||||||||
- Definition
Dividend as Percentage of Net Sales No definition available.
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X | ||||||||||
- Definition
Dividend Payment Date Day And Month No definition available.
|
X | ||||||||||
- Definition
Exercise Price Of Warrants Expired Without Exercise No definition available.
|
X | ||||||||||
- Definition
Issuance of equity warrants in connection with equity offerings No definition available.
|
X | ||||||||||
- Definition
Notice Period No definition available.
|
X | ||||||||||
- Definition
Number of Consecutive Trading Days No definition available.
|
X | ||||||||||
- Definition
Number of Consecutive Trading Days for Conversion of Preferred Stock No definition available.
|
X | ||||||||||
- Definition
Number Of Days For Redemptions No definition available.
|
X | ||||||||||
- Definition
Number of New Directors Elected No definition available.
|
X | ||||||||||
- Definition
Number Of Shares in Each Unit No definition available.
|
X | ||||||||||
- Definition
Number of Shares of Common Stock in Each Unit No definition available.
|
X | ||||||||||
- Definition
Number of Trading Days No definition available.
|
X | ||||||||||
- Definition
Number of Warrant Shares in Each Unit No definition available.
|
X | ||||||||||
- Definition
Number of Warrants in Each Unit No definition available.
|
X | ||||||||||
- Definition
Offering Costs Payable No definition available.
|
X | ||||||||||
- Definition
Open Option Contracts Share Purchase Maximum Period No definition available.
|
X | ||||||||||
- Definition
Percentage of Weighted Average Stock Price for Dividends, Prior to Payment Date No definition available.
|
X | ||||||||||
- Definition
Post Conversion Dividend Rights Issued No definition available.
|
X | ||||||||||
- Definition
Post Conversion Redemption Right Return on Investment Multiplier Amount No definition available.
|
X | ||||||||||
- Definition
Preferred Stock, Stated Value Per Share No definition available.
|
X | ||||||||||
- Definition
Private Placement, Number of Units Announced No definition available.
|
X | ||||||||||
- Definition
Proceeds From Issuance Of Preferred Stock, Net Of Issuance Costs No definition available.
|
X | ||||||||||
- Definition
Proceeds From Issuance Or Sale Of Equity Gross No definition available.
|
X | ||||||||||
- Definition
Proceeds from Subscription Advances No definition available.
|
X | ||||||||||
- Definition
Purchase Price Per Unit Under Private Placement No definition available.
|
X | ||||||||||
- Definition
Redemption Period No definition available.
|
X | ||||||||||
- Definition
Redemption Term Number of Days of Consecutive Trading Days No definition available.
|
X | ||||||||||
- Definition
Sale Of Stock Pursuant To Exercise Of Underwriters Over Allotment Option No definition available.
|
X | ||||||||||
- Definition
Share based Compensation Arrangement by Share based Payment Award, Increase the Number of Shares Available for Grant No definition available.
|
X | ||||||||||
- Definition
Share Conversion Ratio No definition available.
|
X | ||||||||||
- Definition
Stock Issuable, Shares No definition available.
|
X | ||||||||||
- Definition
Stock Issuable Value No definition available.
|
X | ||||||||||
- Definition
Value stock issued during the period as a result of the exercise of warrants. No definition available.
|
X | ||||||||||
- Definition
Stock Issued Issuance Costs, Warrants Issued for Agents, Fair Value No definition available.
|
X | ||||||||||
- Definition
Termination Notice Period No definition available.
|
X | ||||||||||
- Definition
Undesignated Capital Stock, Shares Authorized No definition available.
|
X | ||||||||||
- Definition
Undesignated Capital Stock, Shares Authorized, but Unissued No definition available.
|
X | ||||||||||
- Definition
Undesignated Capital Stock, Shares, Outstanding No definition available.
|
X | ||||||||||
- Definition
Units Issued During Period, Units, New Issues No definition available.
|
X | ||||||||||
- Definition
Warrant, Expiration Date No definition available.
|
X | ||||||||||
- Definition
Warrants Expired Without Exercise No definition available.
|
X | ||||||||||
- Definition
Increase in additional paid in capital due to warrants issued during the period. Includes also the proceeds of debt securities issued with detachable stock purchase warrants that are allocable to the warrants. These warrants qualify for equity classification and provide the holder with a right to purchase stock from the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. 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
Amount of subscription receivable from investors who have been allocated common stock. 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 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
Including the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of warrants issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "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 price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The per share amount of a dividend declared, but not paid, as of the financial reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount per share assigned to the consideration received for shares issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Agreed upon price for the exchange of the underlying asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Period the instrument, asset or liability is expected to be outstanding, 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
|
X | ||||||||||
- Definition
Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage rate used to calculate dividend payments on preferred stock. No definition available.
|
X | ||||||||||
- Definition
The per share liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the preferred stock has been redeemed, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share at which the preferred stock of an entity that has priority over common stock in the distribution of dividends and in the event of liquidation of the entity is redeemed or may be called at. The redemption features of this preferred stock are solely within the control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Proceeds from issuance of capital stock which provides for a specific dividend that is paid to the shareholders before any dividends to common stockholders and which takes precedence over common stockholders in the event of liquidation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- 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
|
X | ||||||||||
- Definition
The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity. 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. 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the conversion ratio used in the calculation of a stock split. 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
Reduction in the number of shares during the period as a result of a reverse stock split. 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
The aggregate amount to be paid by the entity upon redemption of the security that is classified as temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Return on Investment (Detail) (Series C Super Dividend Convertible Preferred Stock)
|
12 Months Ended |
---|---|
Dec. 31, 2011
|
|
Period 1
|
|
Stockholders Equity [Line Items] | |
ROI Percentage | 200.00% |
Redemption date | before the second anniversary of the date of issuance; |
Period 2
|
|
Stockholders Equity [Line Items] | |
ROI Percentage | 250.00% |
Redemption date | on or after the second anniversary of the date of issuance, but before the third anniversary of the date of issuance; |
Period 3
|
|
Stockholders Equity [Line Items] | |
ROI Percentage | 300.00% |
Redemption date | on or after the third anniversary of the date of issuance, but before the fourth anniversary of the date of issuance; |
Period 4
|
|
Stockholders Equity [Line Items] | |
ROI Percentage | 350.00% |
Redemption date | on or after the fourth anniversary of the date of issuance, but before the fifth anniversary of the date of issuance; |
Period 5
|
|
Stockholders Equity [Line Items] | |
ROI Percentage | 400.00% |
Redemption date | on or after the fifth anniversary of the date of issuance, but before the sixth anniversary of the date of issuance; |
Period 6
|
|
Stockholders Equity [Line Items] | |
ROI Percentage | 450.00% |
Redemption date | on or after the sixth anniversary of the date of issuance, but before the seventh anniversary of the date of issuance; |
Period 7
|
|
Stockholders Equity [Line Items] | |
ROI Percentage | 500.00% |
Redemption date | on or after the seventh anniversary of the date of issuance, but before the eighth anniversary of the date of issuance; and |
Period 8
|
|
Stockholders Equity [Line Items] | |
ROI Percentage | 550.00% |
Redemption date | on or after the eighth anniversary of the date of issuance, but before the ninth anniversary of the date of issuance. |
X | ||||||||||
- Definition
Percentage of Return on Investment No definition available.
|
X | ||||||||||
- Definition
Redemption Date Description No definition available.
|
X | ||||||||||
- Details
|
Summary of Warrant Activity (Detail)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Shares | ||
Beginning Balance | 6,673,405 | 8,585,872 |
Issued | 1,379,739 | |
Cancelled | (616,726) | (141,084) |
Exercised | (12,177) | (1,771,383) |
Ending Balance | 7,424,241 | 6,673,405 |
X | ||||||||||
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Exercises in Period No definition available.
|
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
|
X | ||||||||||
- Definition
The number of grants made 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
X | ||||||||||
- Details
|
Summary of Information with Regard to Outstanding Warrants Issued in Connection with Equity and Debt Financings and Consultants (Detail)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
|
Mar. 28, 2012
|
Dec. 30, 2010
|
Jul. 02, 2008
|
Feb. 04, 2008
|
May 31, 2003
|
Dec. 31, 2002
|
Aug. 31, 2001
|
Feb. 25, 2008
Warrant 4
|
Dec. 31, 2012
February 25, 2008 Common Stock Transaction
Warrant 4
|
Dec. 31, 2012
February 12, 2009 Series B-1 Transaction
Warrant 5
|
Dec. 31, 2012
February 12, 2009 Series B-1 Transaction
Warrant 6
|
Dec. 31, 2012
May 13, 2009 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
May 13, 2009 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
June 30, 2009 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
June 30, 2009 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
April 15, 2009 Consultant Warrants
|
Dec. 31, 2012
May 1, 2009 Consultant Warrants
|
Dec. 31, 2012
June 30, 2009 Consultant Warrants
|
Dec. 31, 2012
July 26, 2009 Consultant Warrants
|
Dec. 31, 2012
August 12, 2009 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
August 12, 2009 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
September 30, 2009 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
September 30, 2009 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
November 4, 2009 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
November 4, 2009 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
December 8, 2009 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
December 8, 2009 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
January 29, 2010 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
January 29, 2010 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
March 8, 2010 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
March 8, 2010 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
April 30, 2010 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
April 30, 2010 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
May 10, 2010 Series B-2 Transaction
Warrant 5
|
Dec. 31, 2012
May 10, 2010 Series B-2 Transaction
Warrant 6
|
Dec. 31, 2012
May Twenty Five Twenty Ten Consultant Warrants
First Issuance
|
Dec. 31, 2012
May Twenty Five Twenty Ten Consultant Warrants
Second Issuance
|
Dec. 31, 2012
June 15, 2010 Consultant Warrants
|
Dec. 31, 2012
December 9, 2010 Consultant Warrants
|
Dec. 31, 2012
December 30, 2010 Placement Agent Warrants
|
Dec. 31, 2012
March Twenty Eight Twenty Twelve Offering Warrants
|
Dec. 31, 2012
Twenty Twelve Offering Placement Agent Warrants
|
|
Equity [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Number Issued | 7,424,241 | 710,834 | 300,000 | 1,200,000 | 150,000 | 600,000 | 83,333 | 333,333 | 33,333 | 74,000 | 40,000 | 16,667 | 50,000 | 200,000 | 54,166 | 216,666 | 51,666 | 206,666 | 54,167 | 216,667 | 54,167 | 216,667 | 55,834 | 223,334 | 51,667 | 206,667 | 95,000 | 380,000 | 28,334 | 7,500 | 100,000 | 33,334 | 500 | 1,333,361 | 46,378 | ||||||||
Exercise Price | 7.20 | 6.00 | 9.00 | 32.40 | 21.00 | 39.00 | 3.78 | 4.20 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 4.50 | 15.00 | 4.26 | 3.90 | 7.20 | 5.63 | 5.63 | ||
Exercisable Date | Aug. 25, 2008 | Feb. 12, 2009 | Feb. 12, 2009 | May 13, 2009 | May 13, 2009 | Jun. 30, 2009 | Jun. 30, 2009 | Apr. 15, 2009 | May 01, 2009 | Jun. 30, 2009 | Jul. 26, 2009 | Aug. 12, 2009 | Aug. 12, 2009 | Sep. 30, 2009 | Sep. 30, 2009 | Nov. 04, 2009 | Nov. 04, 2009 | Dec. 08, 2009 | Dec. 08, 2009 | Jan. 29, 2010 | Jan. 29, 2010 | Mar. 08, 2010 | Mar. 08, 2010 | Apr. 30, 2010 | Apr. 30, 2010 | May 10, 2010 | May 10, 2010 | May 25, 2010 | May 25, 2010 | Jun. 15, 2010 | Dec. 09, 2010 | Dec. 30, 2010 | Mar. 28, 2012 | Mar. 28, 2012 | |||||||||
Expiration Date | May 02, 2016 | Aug. 25, 2013 | Feb. 12, 2014 | Feb. 12, 2014 | May 13, 2014 | May 13, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Apr. 15, 2013 | May 01, 2014 | Jun. 30, 2014 | Jul. 26, 2014 | Aug. 12, 2014 | Aug. 12, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Nov. 04, 2014 | Nov. 04, 2014 | Dec. 08, 2014 | Dec. 08, 2014 | Jan. 29, 2015 | Jan. 29, 2015 | Mar. 08, 2015 | Mar. 08, 2015 | Apr. 30, 2015 | Apr. 30, 2015 | May 10, 2015 | May 10, 2015 | May 25, 2014 | May 25, 2014 | Jun. 15, 2015 | Dec. 09, 2015 | Dec. 30, 2015 | Mar. 28, 2017 | May 02, 2016 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Warrant, Expiration Date No definition available.
|
X | ||||||||||
- Definition
Date the warrants or rights are exercisable, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate amount of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Information with Regard to Outstanding Warrants Issued in Connection with Equity and Debt Financings and Consultants (Parenthetical) (Detail) (USD $)
|
12 Months Ended |
---|---|
Dec. 31, 2012
|
|
February 25, 2008 Common Stock Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Feb. 25, 2008 |
February 12, 2009 Series B-1 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Feb. 12, 2009 |
May 13, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | May 13, 2009 |
June 30, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Jun. 30, 2009 |
April 15, 2009 Consultant Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | Apr. 15, 2009 |
May 1, 2009 Consultant Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | May 01, 2009 |
June 30, 2009 Consultant Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | Jun. 30, 2009 |
July 26, 2009 Consultant Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | Jul. 26, 2009 |
August 12, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Aug. 12, 2009 |
September 30, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Sep. 30, 2009 |
November 4, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Nov. 04, 2009 |
December 8, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Dec. 08, 2009 |
January 29, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Jan. 29, 2010 |
March 8, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Mar. 08, 2010 |
April 30, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | Apr. 30, 2010 |
May 10, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issuance date | May 10, 2010 |
June 15, 2010 Consultant Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | Jun. 15, 2010 |
December 9, 2010 Consultant Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | Dec. 09, 2010 |
December 30, 2010 Placement Agent Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | Dec. 30, 2010 |
Warrant 4 | February 25, 2008 Common Stock Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.70 |
Warrant 5 | February 12, 2009 Series B-1 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | May 13, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | June 30, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | August 12, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | September 30, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | November 4, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | December 8, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | January 29, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | March 8, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | April 30, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 5 | May 10, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.5 |
Warrant 6 | February 12, 2009 Series B-1 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | May 13, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | June 30, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | August 12, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | September 30, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | November 4, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | December 8, 2009 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | January 29, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | March 8, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | April 30, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.50 |
Warrant 6 | May 10, 2010 Series B-2 Transaction
|
|
Equity [Line Items] | |
Warrant issued price per share | $ 0.5 |
First Issuance | May Twenty Five Twenty Ten Consultant Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | May 25, 2010 |
Second Issuance | May Twenty Five Twenty Ten Consultant Warrants
|
|
Equity [Line Items] | |
Warrant issuance date | May 25, 2010 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Issuance Of Warrants Price Per Share No definition available.
|
X | ||||||||||
- Definition
Warrant Issue Date No definition available.
|
Warrants and Warrant Liabilities - Additional Information (Detail) (USD $)
|
1 Months Ended | 12 Months Ended | 150 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 28, 2012
|
Dec. 30, 2010
|
Jul. 02, 2008
|
Feb. 04, 2008
|
May 31, 2003
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2002
|
Dec. 31, 2012
|
Aug. 31, 2001
|
Dec. 31, 2012
Minimum
|
Dec. 31, 2012
Maximum
|
Dec. 31, 2008
Adoption of New Accounting Pronouncement Effect
|
May 31, 2009
Warrant 8
|
Dec. 31, 2010
Warrant 8
|
May 31, 2010
Warrant Eleven
First Issuance
|
Dec. 31, 2010
Warrant Eleven
First Issuance
|
May 31, 2010
Warrant Eleven
Second Issuance
|
Dec. 31, 2011
Warrant Eleven
Second Issuance
|
Dec. 31, 2010
Warrant Eleven
Second Issuance
|
Dec. 31, 2011
Warrant Eleven
Second Issuance
Minimum
|
Dec. 31, 2010
Warrant Eleven
Second Issuance
Minimum
|
Dec. 31, 2011
Warrant Eleven
Second Issuance
Maximum
|
Dec. 31, 2010
Warrant Eleven
Second Issuance
Maximum
|
Oct. 31, 2010
Warrant Twelve
|
Dec. 31, 2011
Warrant Twelve
|
Dec. 31, 2010
Warrant Twelve
|
Dec. 31, 2010
Warrant Thirteen
First Issuance
|
Dec. 31, 2010
Warrant Thirteen
First Issuance
|
Dec. 31, 2010
Warrant Thirteen
Second Issuance
|
Apr. 30, 2009
Warrant 7
|
Dec. 31, 2011
Warrant 7
|
Dec. 31, 2010
Warrant 7
|
Dec. 31, 2010
Warrant 7
Vesting Scenario One
|
Dec. 31, 2010
Warrant 7
Vesting Scenario Two
|
May 31, 2008
Investor Relations Group
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||||||||||||
Warrants issued in period | 46,378 | 500 | 50,000 | 1,400 | 18,269 | 18,334 | 6,500 | |||||||||||||||||||||||||||||
Value of warrants | $ 232,000 | $ 134,000 | $ 40,000 | $ 112,000 | $ 2,000 | $ 32,000 | $ 104,000 | $ 16,000 | $ 124,000 | $ 3,000 | ||||||||||||||||||||||||||
Exercise price of warrant | 7.20 | 6.00 | 9.00 | 32.40 | 21.00 | 39.00 | 3.00 | 4.50 | 15.00 | 4.26 | 3.90 | 3.90 | 7.20 | 3.00 | 3.00 | |||||||||||||||||||||
Warrants exercise period | 3 years | |||||||||||||||||||||||||||||||||||
Warrants to purchase shares of common stock | 95,834 | 35,001 | 12,000 | 100,000 | 33,334 | 33,334 | 500 | 55,000 | ||||||||||||||||||||||||||||
Vested warrant | 74,000 | 74,000 | 7,500 | 25,000 | 13,334 | 8,334 | ||||||||||||||||||||||||||||||
Warrant that will vest upon the achievement of certain milestones | 50,000 | 41,666 | 33,332 | |||||||||||||||||||||||||||||||||
Expected life | 5 years 9 months 22 days | 5 years 1 month 17 days | 5 years 2 months 9 days | 5 years | 10 years | 5 years | 4 years | 4 years | 2 years 11 months 27 days | 3 years 4 months 24 days | 3 years 3 months 26 days | 3 years 11 months 27 days | 4 years 3 months 11 days | 5 years | 5 years | 4 years | 1 year 3 months 15 days | 3 years 22 days | 2 years 3 months 15 days | |||||||||||||||||
Expected volatility of the underlying stock | 116.00% | 131.00% | 119.00% | 124.00% | 143.00% | 143.00% | 128.00% | 130.00% | 130.00% | 144.00% | 135.00% | 130.00% | 130.00% | 134.00% | 70.00% | 140.00% | 141.00% | |||||||||||||||||||
Risk free interest rate | 0.90% | 1.90% | 1.84% | 2.16% | 1.61% | 1.61% | 0.79% | 0.51% | 1.29% | 1.68% | 1.705% | 1.90% | 2.06% | 1.76% | 0.12% | 1.69% | 0.61% | |||||||||||||||||||
Expected dividend rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |||||||||||||||||||||
Stock-based compensation expense | 2,792,000 | 3,245,000 | 12,374,000 | 53,000 | 134,000 | 12,000 | 15,000 | 340,000 | 219,000 | 112,000 | 111,000 | |||||||||||||||||||||||||
Reversal of stock-based compensation expense | 100,000 | 13,000 | ||||||||||||||||||||||||||||||||||
Forfeited warrant | 616,726 | 141,084 | 21,834 | 21,834 | 4,500 | |||||||||||||||||||||||||||||||
Warrant vesting per month | 500 | |||||||||||||||||||||||||||||||||||
Warrant expected to vest in one year | 25,000 | |||||||||||||||||||||||||||||||||||
Warrants issued | 1,164,929 | |||||||||||||||||||||||||||||||||||
Decrease in additional paid-in-capital | 458,000 | |||||||||||||||||||||||||||||||||||
Increase in warrant liabilities | 204,000 | |||||||||||||||||||||||||||||||||||
Change in fair value of warrant liabilities | $ (524,000) | $ 9,022,000 |
X | ||||||||||
- Definition
Change in fair value of warrant No definition available.
|
X | ||||||||||
- Definition
Class of Warrant or Right, Exercise Period No definition available.
|
X | ||||||||||
- Definition
Class of Warrant or Right, Issued No definition available.
|
X | ||||||||||
- Definition
Class of Warrant or Right, Issued in Period No definition available.
|
X | ||||||||||
- Definition
Class of Warrant or Right Number of Shares Vesting in Equal Installments No definition available.
|
X | ||||||||||
- Definition
Decrease in Additional Paid in Capital No definition available.
|
X | ||||||||||
- Definition
Increase Decrease In Warrants No definition available.
|
X | ||||||||||
- Definition
Issuance Of Warrants, Value No definition available.
|
X | ||||||||||
- Definition
Reversal of Share-based Compensation No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options, Expected to Vest, Next Year No definition available.
|
X | ||||||||||
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Number No definition available.
|
X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
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
|
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
|
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
|
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
|
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
|
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
|
X | ||||||||||
- Details
|
Stock-Based Compensation - Additional Information (Detail) (USD $)
|
1 Months Ended | 12 Months Ended | 150 Months Ended | 12 Months Ended | 2 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 28, 2009
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2010
|
Feb. 25, 2008
|
Feb. 04, 2008
|
Jan. 31, 2003
|
Dec. 31, 2002
|
Dec. 31, 2001
|
Aug. 31, 2001
|
Dec. 31, 2011
Scenario 1
|
Dec. 31, 2011
Scenario 2
|
Dec. 31, 2012
Cashless
|
Dec. 31, 2011
Cashless
|
Dec. 31, 2011
Monte Carlo Option Pricing Model
|
Feb. 29, 2004
Stock Option
|
Dec. 31, 2012
Stock Option
|
Dec. 31, 2011
Stock Option
|
Dec. 31, 2003
Stock Option
|
Dec. 31, 2011
Restricted Stock
|
Mar. 31, 2002
Non Employee Board Member and Former Member of Audit Committee
Second Consulting Agreement
|
Dec. 31, 2002
Non Employee Board Member and Former Member of Audit Committee
Second Consulting Agreement
|
Jun. 30, 2003
Non Employee Board Member and Former Member of Audit Committee
Third Consulting Agreement
|
Dec. 31, 2004
Non Employee Board Member and Former Member of Audit Committee
Third Consulting Agreement
|
Dec. 31, 2003
Non Employee Board Member and Former Member of Audit Committee
Third Consulting Agreement
|
Dec. 31, 2002
Non Employee Board Member and Former Member of Audit Committee
Stock Option
|
Dec. 31, 2002
Non Employee Board Member and Former Member of Audit Committee
Stock Option
Second Consulting Agreement
|
Dec. 31, 2004
Non Employee Board Member and Former Member of Audit Committee
Stock Options
Third Consulting Agreement
|
Dec. 31, 2003
Non Employee Board Member and Former Member of Audit Committee
Stock Options
Third Consulting Agreement
|
Jan. 31, 2003
Board of Directors
|
Dec. 31, 2011
Board of Directors
|
Dec. 31, 2010
Board of Directors
|
Dec. 31, 2009
Board of Directors
|
Dec. 31, 2004
Board of Directors
|
Dec. 31, 2003
Board of Directors
|
Dec. 31, 2004
Board of Directors
Stock Option
|
Dec. 31, 2003
Board of Directors
Stock Option
|
Dec. 31, 2011
Board of Directors
Restricted Stock
|
Nov. 30, 2005
Member of Scientific Advisory Board
|
May 31, 2003
Member of Scientific Advisory Board
|
Dec. 31, 2004
Member of Scientific Advisory Board
|
Dec. 31, 2003
Member of Scientific Advisory Board
|
Dec. 31, 2005
Member of Scientific Advisory Board
Stock Option
|
Dec. 31, 2004
Member of Scientific Advisory Board
Stock Option
|
Dec. 31, 2003
Member of Scientific Advisory Board
Stock Option
|
Sep. 30, 2003
Board Member and Member of Scientific Advisory Board
|
Dec. 31, 2003
Board Member and Member of Scientific Advisory Board
Stock Option
|
Oct. 31, 2003
Former Chief Financial Officer
|
Sep. 30, 2003
Former Chief Financial Officer
|
Dec. 31, 2003
Former Chief Financial Officer
|
Oct. 31, 2003
Former Chief Financial Officer
Cashless
|
Oct. 31, 2003
Former Chief Financial Officer
Stock Option
|
Apr. 30, 2004
Investor Relations Firm
|
Mar. 31, 2004
Investor Relations Firm
|
Dec. 31, 2005
Investor Relations Firm
|
Dec. 31, 2004
Investor Relations Firm
|
Mar. 31, 2004
Investor Relations Firm
Stock Option
|
Dec. 31, 2003
Investor Relations Firm
Stock Option
Options Vested on December Thirty One Twenty Zero Three
|
Dec. 31, 2004
Investor Relations Firm
Stock Option
Options Vested on January and February Twenty Zero Four
|
Aug. 31, 2012
Consultant
|
May 31, 2012
Consultant
|
Nov. 15, 2011
Consultant
|
Mar. 31, 2009
Consultant
|
Feb. 28, 2009
Consultant
|
Apr. 30, 2008
Consultant
|
Mar. 31, 2008
Consultant
|
Dec. 31, 2007
Consultant
|
Mar. 31, 2006
Consultant
|
Dec. 31, 2011
Consultant
|
Mar. 31, 2006
Consultant
Stock Option
|
Dec. 31, 2009
Consultant
Stock Option
|
Dec. 31, 2008
Consultant
Stock Option
|
Dec. 31, 2007
Consultant
Stock Option
|
Dec. 31, 2011
Consultant
Restricted Stock
Scenario 2
|
Dec. 31, 2012
Minimum
|
Dec. 31, 2011
Minimum
|
Dec. 31, 2012
Maximum
|
Apr. 30, 2004
Maximum
Investor Relations Firm
|
Mar. 31, 2004
Maximum
Investor Relations Firm
|
Dec. 31, 2001
Consulting Agreement
Non Employee Board Member and Former Member of Audit Committee
|
Dec. 31, 2003
Consulting Agreement
Non Employee Board Member and Former Member of Audit Committee
Stock Option
|
Dec. 31, 2002
Consulting Agreement
Non Employee Board Member and Former Member of Audit Committee
Stock Option
|
Dec. 31, 2001
Consulting Agreement
Non Employee Board Member and Former Member of Audit Committee
Stock Option
|
Oct. 31, 2001
Stock Incentive Plan Twenty Zero One
|
Dec. 31, 2012
Stock Incentive Plan Twenty Zero One
|
Oct. 31, 2001
Stock Incentive Plan Twenty Zero One
Minimum
|
Oct. 31, 2001
Stock Incentive Plan Twenty Zero One
Maximum
|
Dec. 31, 2012
Non Employee Director Stock Options Plan, Twenty Zero Three
|
Dec. 31, 2003
Non Employee Director Stock Options Plan, Twenty Zero Three
|
Dec. 31, 2012
Incentive Compensation Plan 2009
|
Feb. 28, 2009
Incentive Compensation Plan 2009
|
Dec. 31, 2012
Non Qualified Options Plans
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of share based compensation plans | 3 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock for issuance upon exercise of grants | 833,334 | 166,667 | 3,333,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock awards, vesting period | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options expiration period | 3 years | 10 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock awards, available for future grant | 291,992 | 146,557 | 979,259 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-plan stock option grants to employees and non-employees | 1,477,379 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-plan grants outstanding | 3,539,961 | 3,091,474 | 3,539,961 | 1,965,748 | 1,440,045 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected life | 5 years 9 months 22 days | 5 years 1 month 17 days | 5 years 2 months 9 days | 10 years | 5 years | 10 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend yield used in the option valuation model | 0.00% | 0.00% | 0.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Option expected to vest only upon achievement of certain market conditions | 166,668 | 83,334 | 83,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total fair value of options vested | $ 2,447,000 | $ 2,153,000 | $ 13,056,000 | $ 5,000,000,000 | $ 10,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrecognized compensation cost | 5,628,000 | 5,628,000 | 1,006,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrecognized compensation cost, recognition period | 3 years 8 months 12 days | 5 years 6 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annualized volatility | 116.00% | 131.00% | 119.00% | 110.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annualized risk free rate | 0.90% | 1.90% | 1.84% | 3.50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock price | $ 2.05 | $ 2.05 | $ 2.40 | $ 3.54 | $ 6.00 | $ 21.00 | $ 13.68 | $ 13.68 | $ 9.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted-average grant-date fair values of options granted | $ 1.77 | $ 6.07 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested option | 1,472,051 | 1,317,480 | 1,472,051 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options exercised | 51,830 | 216,443 | 90,253 | 83,334 | 8,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options exercised | 96,000 | 253,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from exercise of stock options | 0 | 234,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued in the conversion of options in a noncash transaction | 51,830 | 64,273 | 2,772 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intrinsic value of options exercised | 162,000 | 1,174,000 | 1,724,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of options vested | 83,334 | 595,420 | 380,391 | 10,000 | 2,500 | 3,334 | 2,500 | 7,500 | 833 | 833 | 834 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of options granted | 4,000 | 4,000 | 16,667 | 1,667 | 4,167 | 16,667 | 33,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of stock options | $ 2.13 | $ 7.02 | $ 21.00 | $ 21.00 | $ 15.66 | $ 21.00 | $ 24.30 | $ 17.82 | $ 24.30 | $ 30.96 | $ 34.80 | $ 0 | $ 2.64 | $ 3.78 | $ 22.50 | $ 21.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option, fair market value | 239,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock price per share | $ 12.96 | $ 21.00 | $ 16.80 | $ 8.10 | $ 16.80 | $ 14.64 | $ 26.70 | $ 0.72 | $ 2.34 | $ 2.76 | $ 13.20 | $ 13.68 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 2,792,000 | 3,245,000 | 12,374,000 | 41,000 | 17,000 | 40,000 | 51,000 | 193,000 | 18,000 | 7,000 | 5,000 | 13,000 | 122,000 | 40,000 | 74,000 | 14,000 | 67,000 | 29,000 | 23,000 | 33,000 | 24,000 | 15,000 | 2,000 | 110,000 | 71,000 | 64,000 | 147,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of options granted per month | 334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of options vest per month | 334 | 334 | 834 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option, fair market value | 11,000 | 33,000 | 156,000 | 16,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation | 11,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustments of unvested options | (2,000) | 21,000 | 4,000 | 82,000 | 2,000 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options vesting rate, vested immediately | 33.33% | 50.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option issued | 834 | 10,000 | 4,167 | 33,334 | 8,000 | 834 | 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of options issuable as services are performed | 10,000 | 16,667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of options vest per month | 834 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Extension of exercise period | 90 days | 90 days | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional stock-based compensation expense | 271,000 | 63,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock options granted, shares | 4,348 | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair market value of shares | 10,000 | 16,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted common stock granted | 1,379,739 | 416,670 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted common stock vested | 46,876 | 390,628 | 26,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted shares, value | $ 450,000 | $ 113,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted shares, value per share | $ 1.08 | $ 5.40 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted common stock issued | 20,834 | 20,834 |
X | ||||||||||
- Definition
Additional Share Based Compensation Expense Related to Modified Stock Options No definition available.
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X | ||||||||||
- Definition
Common Stock Options Granted, Shares No definition available.
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X | ||||||||||
- Definition
Extension Of Exercise Period No definition available.
|
X | ||||||||||
- Definition
Fair Market Value Of Shares No definition available.
|
X | ||||||||||
- Definition
Number Of Compensation Plans No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options Grants In Period No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Grant Date Fair Value No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options, Issued in Period No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Options Expected to Vest Number No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award, Options, Expiration Term No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award Options Grant per Month No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Fair Value No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award Options Issuable in Period No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award Options Issuable per Month No definition available.
|
X | ||||||||||
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Options Unvested Fair Value Adjustments No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award, Options, Vested in Period No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Options Vested Percentage No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award Options Vest per Month No definition available.
|
X | ||||||||||
- Definition
Stock Issued During Period Shares Stock Options Exercised Amount No definition available.
|
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
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X | ||||||||||
- Definition
Aggregate carrying value as of the balance sheet date of the liabilities for stock option plans and other equity-based compensation arrangements payable within one year (or the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
X | ||||||||||
- Definition
Amount per share assigned to the consideration received for shares issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
X | ||||||||||
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, 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
|
X | ||||||||||
- Definition
The number of grants made 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
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
|
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
|
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
|
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
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
X | ||||||||||
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net number of share options (or share units) granted during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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
|
X | ||||||||||
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock. No definition available.
|
X | ||||||||||
- Definition
Number of share instruments newly issued under a share-based compensation plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance on stock options awarded. No definition available.
|
X | ||||||||||
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of stock (or other type of equity) granted during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. This element is not the recognition of equity-based compensation expense in pursuant to FAS 123R. That element is AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue (Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Value). 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
|
Stock-Based Compensation Expense Related to Common Stock Options, Restricted Common Stock and Common Stock Warrants (Detail) (USD $)
|
12 Months Ended | 150 Months Ended | |
---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
|
|
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation expense | $ 2,792,000 | $ 3,245,000 | $ 12,374,000 |
Research and Development
|
|||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation expense | 922,000 | 1,558,000 | |
General and Administrative
|
|||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation expense | $ 1,870,000 | $ 1,687,000 |
X | ||||||||||
- Details
|
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
|
Weighted Average Assumptions Used to Determine Fair Value of Options Granted (Detail)
|
12 Months Ended | 150 Months Ended | |
---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 0.90% | 1.90% | 1.84% |
Expected life of the options | 5 years 9 months 22 days | 5 years 1 month 17 days | 5 years 2 months 9 days |
Expected volatility of the underlying stock | 116.00% | 131.00% | 119.00% |
Expected dividend rate | 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
|
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
|
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
|
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
|
X | ||||||||||
- Details
|
Summary of Stock Option Activity (Detail) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Shares | ||
Beginning Balance | 3,091,474 | 1,965,748 |
Granted | 800,000 | 1,676,712 |
Forfeited/Cancelled | (299,683) | (334,543) |
Exercised | (51,830) | (216,443) |
Ending Balance | 3,539,961 | 3,091,474 |
Exercisable, December 31, 2012 | 2,067,910 | |
Weighted Average Exercise Price | ||
Beginning Balance | $ 6.83 | $ 6.42 |
Granted | $ 2.13 | $ 7.02 |
Forfeited/Cancelled | $ 8.93 | $ 8.93 |
Exercised | $ 2.31 | $ 1.21 |
Ending Balance | $ 5.66 | $ 6.83 |
Exercisable, December 31, 2012 | $ 5.96 | |
Weighted Average Remaining Contractual Life (Years) | ||
Outstanding, December 31, 2012 | 6 years 9 months 15 days | |
Exercisable, December 31, 2012 | 5 years 4 months 28 days | |
Stock Options Aggregate Intrinsic Value | ||
Outstanding, December 31, 2012 | $ 279 | |
Exercisable, December 31, 2012 | $ 268 |
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, 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
|
X | ||||||||||
- Definition
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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
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
|
X | ||||||||||
- Details
|
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 price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. No definition available.
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance on stock options awarded. No definition available.
|
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
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Unvested Restricted Shares (Detail) (USD $)
|
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2011
Restricted Stock
|
|
Number of Shares | ||||
Beginning Balance | 7,424,241 | 6,673,405 | 8,585,872 | 26,042 |
Restricted shares issued | 20,834 | |||
Restricted shares vested | (46,876) | |||
Ending Balance | 7,424,241 | 6,673,405 | 8,585,872 | |
Weighted average price on grant | ||||
Unvested restricted shares outstanding, beginning balance | $ 1.08 | |||
Restricted shares issued | $ 8.04 | |||
Restricted shares vested | $ 4.17 |
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options, Issued in Period No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options, Issued in Period, Weighted Average Grant Date Fair Value No definition available.
|
X | ||||||||||
- Details
|
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
|
X | ||||||||||
- Details
|
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
|
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
|
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
|
Changes in Warrant Liabilities (Detail) (USD $)
|
1 Months Ended | 3 Months Ended | 12 Months Ended |
---|---|---|---|
May 21, 2008
|
Jun. 30, 2008
|
Dec. 31, 2011
|
|
Warranty Liability [Line Items] | |||
Beginning Balance | $ 861,000 | ||
Change in fair value of warrant liabilities | 100,000 | 356,000 | 524,000 |
Intrinsic value of liability warrants exercised | $ (1,385) |
X | ||||||||||
- Definition
Change in Fair Value of Warrant Liabilities No definition available.
|
X | ||||||||||
- Definition
Class of Warrant or Right, Intrinsic Value of Warrants or Rights No definition available.
|
X | ||||||||||
- Definition
Warrant Liabilities, Fair Value Disclosure No definition available.
|
X | ||||||||||
- Details
|
Computation of Diluted Net Loss Per Share (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | 150 Months Ended | |
---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
|
|
Basic and diluted net loss per common share: | |||
Net loss | $ (9,675) | $ (10,915) | $ (71,992) |
Preferred stock dividends | (976) | (1,568) | (4,235) |
Preferred stock accretion | (230) | (230) | (4,045) |
Net loss applicable to common stockholders | $ (10,881) | $ (12,713) | $ (80,272) |
Weighted average common shares outstanding-basic and diluted | 15,131 | 11,986 | |
Net loss per common share-basic and diluted | $ (0.72) | $ (1.06) |
X | ||||||||||
- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or 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. No definition available.
|
X | ||||||||||
- Details
|
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
|
X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of accretion of the preferred stock redemption discount during the period. No definition available.
|
X | ||||||||||
- Definition
The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
|
X | ||||||||||
- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
|
Dilutive Shares Which Could Exist Pursuant to Exercise of Outstanding Stock Instruments and Which were not Included in Calculation (Detail)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Dilutive shares not included in calculation | 13,591,312 | 12,391,989 |
Warrant
|
||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Dilutive shares not included in calculation | 7,424,241 | 6,673,405 |
Stock Options
|
||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Dilutive shares not included in calculation | 3,539,961 | 3,091,474 |
Contingently Issuable Shares
|
||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Dilutive shares not included in calculation | 2,627,110 | 2,627,110 |
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 | ||||||||||
- Definition
Bank Deposit No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Dividend Equivalent Rights No definition available.
|
X | ||||||||||
- Definition
Lawsuit Damage Claim No definition available.
|
X | ||||||||||
- Definition
Lease Agreement Expiration Date No definition available.
|
X | ||||||||||
- Definition
Lease Deposits No definition available.
|
X | ||||||||||
- Definition
Lease Extension Period No definition available.
|
X | ||||||||||
- Definition
Long Term Operating Lease Expiration Date No definition available.
|
X | ||||||||||
- Definition
Minimum Company Market Capitalization No definition available.
|
X | ||||||||||
- Definition
Operating Lease Expiration Period No definition available.
|
X | ||||||||||
- Definition
Operating Lease Maturity Period No definition available.
|
X | ||||||||||
- Definition
Operating Leases, Annual Rent No definition available.
|
X | ||||||||||
- Definition
Operating Leases Monthly Base Rent Expense No definition available.
|
X | ||||||||||
- Definition
Organizational and Separation Related Charges No definition available.
|
X | ||||||||||
- Definition
Severance Payment Period No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award, Options, Vested in Period 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
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
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
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
|
X | ||||||||||
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. No definition available.
|
X | ||||||||||
- Definition
The percentage rate used to calculate dividend payments on preferred stock. No definition available.
|
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
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Future Minimum Payments of Operating Lease (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
---|---|
Operating Leased Assets [Line Items] | |
2013 | $ 49 |
2014 | 36 |
Total lease payments | $ 85 |
X | ||||||||||
- Details
|
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 maturing in the next fiscal year following the latest fiscal year for operating 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 maturing in the second fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Components of Net Deferred Tax Assets (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Components Of Deferred Tax Assets And Liabilities [Line Items] | ||
Operating loss carryforwards | $ 21,753 | $ 19,119 |
Tax credit carryforwards | 317 | 330 |
Other temporary differences | 2,921 | 2,070 |
Deferred Tax Assets, Gross, Total | 24,991 | 21,519 |
Less valuation allowance | (24,991) | (21,519) |
Net deferred tax asset |
X | ||||||||||
- Details
|
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 after 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 allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of future tax deductions arising from all unused tax credit carryforwards which have been reduced by a valuation allowance. 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
|
Primary Factors Affecting Income Tax Rates (Detail)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Reconciliation of Statutory Tax Rate [Line Items] | ||
Tax benefit at U.S. statutory rates | (34.00%) | (34.00%) |
State tax benefit | (5.30%) | (5.30%) |
Credit | (0.20%) | (1.00%) |
Permanent differences | 1.40% | 3.50% |
Expiring state NOL's | 3.30% | 3.40% |
Changes in valuation allowance | 34.80% | 33.40% |
Effective Income Tax Rate, Continuing Operations, Total | 0.00% | 0.00% |
X | ||||||||||
- Definition
Effective Income Tax Rate Reconciliation, Permanent Differences No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to changes in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to all other items not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by the state and local income tax expense or benefit, net of the federal tax benefit (expense) thereon, recorded during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the differences between the effective income tax rate and domestic federal statutory income tax rate that can be explained by all tax credits generated or utilized under enacted tax laws during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes - Additional Information (Detail) (USD $)
|
12 Months Ended |
---|---|
Dec. 31, 2012
|
|
Income Taxes [Line Items] | |
Deferred tax asset valuation allowance percentage in each of the last two years | 100.00% |
Benefits related to stock options | $ 707,000 |
Income tax benefit related to federal research and development credit | 61,000 |
Unrecognized tax benefits | 1,082,000 |
Unrecognized tax benefits which affects effective tax rate | 923,000 |
Internal Revenue Service (IRS)
|
|
Income Taxes [Line Items] | |
Net operating loss carryforwards | 60,886,000 |
Operating loss carryforwards, expiration year | 2032 |
Research and development credits | 223,000 |
Research and development credits, expiration year | 2032 |
State and Local Jurisdiction
|
|
Income Taxes [Line Items] | |
Net operating loss carryforwards | 25,160,000 |
Operating loss carryforwards, expiration year | 2032 |
Research and development credits | $ 143,000 |
Research and development credits, expiration year | 2032 |
X | ||||||||||
- Definition
Deferred Income Tax Expense Benefit Capitalized Research And Development Costs No definition available.
|
X | ||||||||||
- Definition
Deferred Tax Assets, Valuation Allowance, Percentage No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Operating Loss Carryforwards, Expiration Year No definition available.
|
X | ||||||||||
- Definition
Research and Development Credits, Expiration Year No definition available.
|
X | ||||||||||
- Definition
The portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to research tax credits generated or utilized under enacted tax laws during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of domestic, foreign and state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tax benefits realized from the exercise of stock options resulting in reductions in the entity's income taxes, which increases net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Subsequent Events - Additional Information (Detail) (Subsequent Event, USD $)
|
12 Months Ended |
---|---|
Feb. 01, 2013
|
|
Subsequent Event
|
|
Subsequent Event [Line Items] | |
Estimated budget for work order | $ 2,155,000 |
Agreement termination notice period | 90 days |
Breach of contract termination notice period | 30 days |
Collaborative funding agreement | $ 154,000 |
X | ||||||||||
- Definition
Collaboration Agreement, Aggregate Research and Development Funded by Collaborator No definition available.
|
X | ||||||||||
- Definition
Maximum Development Budget No definition available.
|
X | ||||||||||
- Definition
Notice Period For Termination Of Agreement No definition available.
|
X | ||||||||||
- Definition
Notice Period To Cure Breach Of Agreement No definition available.
|
X | ||||||||||
- Details
|