Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2013	Mar. 19, 2014	Jun. 30, 2013
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2013
Document Fiscal Year Focus	2013
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		21,932,775
Entity Public Float			$ 55,400,000

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 10,489	$ 9,364
Prepaid expenses and other current assets	198	153
Total current assets	10,687	9,517
Property and equipment, net	3	8
Restricted cash and security deposit		6
Intangible assets, net	23	30
Total assets	10,713	9,561
Current liabilities:
Accounts payable	762	397
Accrued expenses	1,651	1,161
Accrued dividends payable	73	80
Total current liabilities	2,486	1,638
Other long-term liabilities		6
Total liabilities	2,486	1,644
Commitments and contingencies (Note 11)
Stockholders' equity (deficit):
Undesignated stock, $0.01 par value; 20,000,000 shares authorized at December 31, 2013 and 2012, 8,001,000 shares designated at December 31, 2013 and 2012
Series A 12% convertible preferred stock; 5,000,000 shares authorized, 1,452,500 and 1,562,500 issued and outstanding at December 31, 2013 and 2012, liquidation value $1,496,000 at December 31, 2013,	587	632
Common stock, $0.001 par value; 50,000,000 shares authorized at December 31, 2013 and 2012, 18,386,900 and 16,060,853 issued and outstanding at December 31, 2013 and 2012, respectively	18	16
Additional paid-in capital	102,841	80,535
Deficit accumulated during the development stage	(101,965)	(80,018)
Total stockholders' equity (deficit)	1,481	1,165
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	10,713	9,561
Series B-1 12% redeemable convertible preferred stock
Current liabilities:
Convertible preferred stock, value	1,715	1,698
Series B-2 12% redeemable convertible preferred stock
Current liabilities:
Convertible preferred stock, value	3,112	2,900
Series C super dividend convertible preferred stock
Current liabilities:
Convertible preferred stock, value	$ 1,919	$ 2,154

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Undesignated stock, par value	$ 0.01	$ 0.01
Undesignated stock, shares authorized	20,000,000	20,000,000
Undesignated stock, shares designated	8,001,000	8,001,000
Series A 12% convertible preferred stock, shares authorized	5,000,000	5,000,000
Series A 12% convertible preferred stock, issued	1,452,500	1,562,500
Series A 12% convertible preferred stock, outstanding	1,452,500	1,562,500
Series A 12% convertible preferred stock, liquidation value	$ 1,496,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, issued	18,386,900	16,060,853
Common stock, outstanding	18,386,900	16,060,853
Series B-1 12% redeemable convertible preferred stock
Convertible preferred stock, shares authorized	900,000	900,000
Convertible preferred stock, shares issued	900,000	900,000
Convertible preferred stock, shares outstanding	900,000	900,000
Convertible preferred stock, redemption value	1,800,000
Convertible preferred stock, liquidation value	1,800,000
Undesignated stock, shares designated		900,000
Series B-2 12% redeemable convertible preferred stock
Convertible preferred stock, shares authorized	2,100,000	2,100,000
Convertible preferred stock, shares issued	2,100,000	2,100,000
Convertible preferred stock, shares outstanding	2,100,000	2,100,000
Convertible preferred stock, redemption value	4,200,000
Convertible preferred stock, liquidation value	4,200,000
Undesignated stock, shares designated		2,100,000
Series C super dividend convertible preferred stock
Convertible preferred stock, shares authorized	1,000	1,000
Convertible preferred stock, shares issued	196	220
Convertible preferred stock, shares outstanding	196	220
Convertible preferred stock, redemption value	5,547,000
Convertible preferred stock, liquidation value	$ 1,989,400
Undesignated stock, shares designated		1,000

Consolidated Statements Of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended		162 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Operating expenses:
Research and development	$ 5,688	$ 4,527	$ 33,298
General and administrative	6,416	5,372	53,452
Total operating expenses	12,104	9,899	86,750
Total operating loss	(12,104)	(9,899)	(86,750)
Other income (expense):
Interest income	16	24	834
Interest expense			(4,451)
Change in fair value of convertible debt instrument			(3,426)
Change in fair value of warrant liabilities			9,022
Other income		200	691
Total other income (expense)	16	224	2,670
Net loss	(12,088)	(9,675)	(84,080)
Preferred stock dividends	(867)	(976)	(5,104)
Preferred stock accretion	(229)	(230)	(4,274)
Warrant modification	(8,763)		(8,763)
Net loss applicable to common stockholders	$ (21,947)	$ (10,881)	$ (102,221)
Basic and diluted net loss per share	$ (1.30)	$ (0.72)
Shares used in computing basic and diluted net loss per share	16,874	15,131

Consolidated Statement Of Changes In Redeemable Convertible Preferred Stock And Stockholders' Equity (Deficit) (USD $)	Total USD ($)	Series A 12% Convertible Preferred Stock USD ($)	Series B-1 12% redeemable convertible preferred stock Transaction 01 USD ($)	Series B-2 12% Redeemable Convertible Preferred Stock Transaction 02 USD ($)	Series B-2 12% Redeemable Convertible Preferred Stock Transaction 03 USD ($)	Series C super dividend convertible preferred stock USD ($)	Series B redeemable convertible preferred stock USD ($)	Consultant USD ($)	Issuance During Period 1st USD ($)	Issuance During Period 1st Notes Payable USD ($)	Issuance During Period 1st Convertible Notes Payable USD ($)	Issuance During Period 1st Stock Options USD ($)	Issuance During Period 1st Series A 12% Convertible Preferred Stock Private Placement USD ($)	Issuance During Period 2nd USD ($)	Issuance During Period 2nd Convertible Notes Payable USD ($)	Issuance During Period 2nd Cash USD ($)	Issuance During Period 2nd Private Placement USD ($)	Issuance During Period 2nd Series B-1 12% redeemable convertible preferred stock USD ($)	Issuance During Period 3rd USD ($)	Issuance During Period 3rd Private Placement USD ($)	Issuance During Period 3rd Series B-2 12% Redeemable Convertible Preferred Stock USD ($)	Issuance During Period 4th Notes Payable USD ($)	Issuance During Period 4th Series C super dividend convertible preferred stock USD ($)	Issuance During Period 5th Private Placement USD ($)	Issuance During Period 6th Consulting Services USD ($)	Issuance During Period 7th Accrued Liabilities USD ($)	Issuance During Period 8th Private Placement USD ($)	Issuance During Period 9th Private Placement USD ($)	Issuance During Period 10th Private Placement USD ($)	Issuance During Period 11th Private Placement USD ($)	Issuance During Period 12th Cash USD ($)	Period 1 Series B-2 12% Redeemable Convertible Preferred Stock USD ($)	Issuance During Period 14th USD ($)	Issuance During Period 15th USD ($)	Series B-1 12% redeemable convertible preferred stock USD ($)	Series B-1 12% redeemable convertible preferred stock Transaction 01 USD ($)	Series B-1 12% redeemable convertible preferred stock Series B redeemable convertible preferred stock USD ($)	Series B-1 12% redeemable convertible preferred stock Issuance During Period 2nd 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 Series B redeemable convertible preferred stock 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 USD ($)	Series C super dividend convertible preferred stock Issuance During Period 4th USD ($)	Series A 12% Convertible Preferred Stock USD ($)	Series A 12% Convertible Preferred Stock USD ($)	Series A 12% Convertible Preferred Stock Series B-2 12% Redeemable Convertible Preferred Stock USD ($)	Series A 12% Convertible Preferred Stock Issuance During Period 1st Private Placement USD ($)	Common Stock USD ($)	Common Stock Series A 12% Convertible Preferred Stock	Common Stock Series B-1 12% redeemable convertible preferred stock	Common Stock Series B-2 12% Redeemable Convertible Preferred Stock	Common Stock Series C super dividend convertible preferred stock	Common Stock Consultant	Common Stock Issuance During Period 1st	Common Stock Issuance During Period 1st Notes Payable	Common Stock Issuance During Period 1st Stock Options	Common Stock Issuance During Period 2nd USD ($)	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 4th Series C super dividend convertible preferred stock	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 Issuance During Period 15th USD ($)	Additional Paid-in Capital USD ($)	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-2 12% Redeemable Convertible Preferred Stock USD ($)	Additional Paid-in Capital Series C super dividend convertible preferred stock USD ($)	Additional Paid-in Capital Consultant 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 Stock Options 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 ($)	Additional Paid-in Capital Issuance During Period 2nd Series B-1 12% redeemable convertible preferred stock USD ($)	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 3rd Series B-2 12% Redeemable Convertible Preferred Stock USD ($)	Additional Paid-in Capital Issuance During Period 4th Notes Payable USD ($)	Additional Paid-in Capital Issuance During Period 4th Series C super dividend convertible preferred stock 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 ($)	Additional Paid-in Capital Period 1 Series B-2 12% Redeemable Convertible Preferred Stock USD ($)	Additional Paid-in Capital Issuance During Period 14th USD ($)	Additional Paid-in Capital Issuance During Period 15th USD ($)	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 redeemable convertible preferred stock USD ($)
Beginning Balance at Jul. 10, 2000
Issuance of common stock upon exercise of warrants	$ 18,812,000																																																			$ 4,000																									$ 18,808,000
Issuance of common stock upon exercise of options																																																												2,772	611,945
Issuance of common stock upon exercise of options												74,000		632,000																																															1,000																									74,000	632,000
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	599,942
Issuance of common stock	77,400,000									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	3,833,000																														1,000						1,000			1,000	1,000	3,000	1,000								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	3,832,000
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
Accretion of redeemable convertible preferred stock			(1,320,000)	(2,215,000)	(685,000)																															1,320,000				2,215,000	685,000																																																																						(1,320,000)		(2,215,000)	(685,000)
Beneficial conversion feature	222,000																															1,016,000												(1,016,000)																																	222,000																												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 Warrants											503,000				236,000		261,000		20,000																																																																		503,000			236,000		261,000		20,000
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
Receipt of subscription receivable	150,000																																																																												150,000
Issuance of shares related to reverse split of common stock																																																				3,324
Modification of warrants																																																																													8,763,000																															(8,763,000)
Net loss	(84,080,000)																																																																																																											(84,080,000)
Reclassification of Warrant Liabilities	3,193,000																																																																												3,193,000
Convertible preferred stock dividend (in shares)																																																					185,392	334,913	653,274	86,967
Deferred compensation relating to issuance of stock options	455,000																																																																												455,000
Convertible preferred stock dividend		(47,000)				(33,000)																																																																								1,023,000	1,212,000	2,440,000	347,000																												(1,070,000)	(1,212,000)		(2,440,000)			(380,000)
Issuance of common stock upon exercise of warrants																																																				4,704,518
Stock compensation expense related to fair market revaluation	157,000																																																																												157,000
Issuance of redeemable convertible preferred stock													704,000					1,105,000			2,761,000																	395,000					1,174,000				2,203,000				704,000																																								1,105,000			2,761,000
Issuance of redeemable convertible preferred stock (in shares)																																						900,000					2,100,000				225				1,742,500
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
Stock compensation related to the issuance of common shares (in shares)																																																				12,515
Issuance of restricted common stock (in shares)																																																				454,167
Issuance of restricted common stock																																																				1,000																									(1,000)
Stock-based compensation expense	15,424,000																																																																												15,424,000
Stock issued in conversion of convertible securities									1,745,000					3,948,000					5,330,000				284,000																								(284,000)		(117,000)												1,000		1,000															117,000					1,745,000				3,947,000					5,329,000				284,000
Stock issued in conversion of convertible securities (in shares)																																															(29)		(290,000)				48,387					79,367			1,227,972		867,558			48,527
Ending Balance at Dec. 31, 2013	1,481,000																																												1,919,000			587,000				18,000																									102,841,000																															(101,965,000)
Ending Balance (in shares) at Dec. 31, 2013																																													196			1,452,500				18,386,900
Beginning Balance at Dec. 31, 2011	(2,125,000)																																		1,681,000				2,687,000						2,154,000			632,000				13,000																									66,367,000																															(69,137,000)
Beginning Balance (in shares) at Dec. 31, 2011																																			900,000				2,100,000						220			1,562,500				12,919,538
Issuance of common stock upon exercise of options	51,830																																																			51,830
Issuance of common stock (in shares)																																																									11,348
Issuance of common stock								26,000																																																																										26,000
Accretion of redeemable convertible preferred stock							(174,000)																														17,000					157,000																																																																										(174,000)
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
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																																																																														103,000	224,000	522,000	127,000																												(103,000)	(224,000)		(522,000)			(127,000)
Issuance of common stock upon exercise of warrants																																																				12,177
Stock-based compensation expense	2,766,000																																																																												2,766,000
Ending Balance at Dec. 31, 2012	1,165,000																																		1,698,000				2,900,000						2,154,000			632,000				16,000																									80,535,000																															(80,018,000)
Ending Balance (in shares) at Dec. 31, 2012																																			900,000				2,100,000						220			1,562,500				16,060,853
Issuance of common stock upon exercise of warrants	4,505,000																																																			1,000																									4,504,000
Issuance of common stock upon exercise of options	213,008																																																			213,008
Issuance of common stock upon exercise of options	271,000																																																																												271,000
Issuance of common stock (in shares)																																																				599,942
Issuance of common stock	3,833,000																																																			1,000																									3,832,000
Accretion of redeemable convertible preferred stock	(175,000)																																		17,000				158,000																																																																					(175,000)
Accretion of beneficial conversion feature for Series B-2	(54,000)																																						54,000																																																																					(54,000)
Issuance of Common Stock Warrants	(8,763,000)
Modification of warrants																																																																													8,763,000																															(8,763,000)
Net loss	(12,088,000)																																																																																																											(12,088,000)
Convertible preferred stock dividend (in shares)																																																					25,062	36,106	84,553	23,848
Convertible preferred stock dividend																																																																														148,000	178,000	418,000	123,000																												(148,000)	(178,000)		(418,000)			(123,000)
Issuance of redeemable convertible preferred stock						235,000																																								(235,000)				(45,000)																														45,000	235,000
Issuance of redeemable convertible preferred stock (in shares)																																														(24)				(110,000)					18,387	40,193
Stock-based compensation expense	3,789,000																																																																												3,789,000
Ending Balance at Dec. 31, 2013	$ 1,481,000																																		$ 1,715,000				$ 3,112,000						$ 1,919,000			$ 587,000				$ 18,000																									$ 102,841,000																															$ (101,965,000)
Ending Balance (in shares) at Dec. 31, 2013																																			900,000				2,100,000						196			1,452,500				18,386,900

Consolidated Statement Of Changes In Redeemable Convertible Preferred Stock And Stockholders' Equity (Deficit) (Parenthetical) (USD $)	12 Months Ended		162 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Issuance of stock, issuance costs	$ 111,000	$ 1,597,000	$ 17,000
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

Consolidated Statements Of Cash Flows (USD $)	12 Months Ended		162 Months Ended
Consolidated Statements Of Cash Flows (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (12,088,000)	$ (9,675,000)	$ (84,080,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	12,000	9,000	567,000
Stock-based compensation expense	3,789,000	2,792,000	16,163,000
Non-cash interest expense			4,279,000
Change in fair value of convertible debt instrument			3,426,000
Change in fair value of warrant liabilities			(9,022,000)
Write off of intangible assets			351,000
Changes in operating assets and liabilities:
Grant receivable
Prepaid expenses and other assets	(39,000)	(55,000)	(195,000)
Accounts payable and accrued expenses	848,000	(577,000)	2,474,000
Other long-term liabilities	(6,000)	6,000
Net cash used in operating activities	(7,484,000)	(7,500,000)	(66,037,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(5,000)	(431,000)
Change in restricted cash and security deposit		69,000
Increase in patents costs and other assets			(404,000)
Net cash provided by (used in) investing activities		64,000	(835,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock and warrants	3,833,000	10,403,000	42,926,000
Net proceeds from issuance of convertible debt instruments			10,621,000
Repayment of convertible debt instruments			(1,641,000)
Net proceeds from exercise of common stock warrants and options	4,776,000		16,069,000
Proceeds from shareholder advances			9,000
Net cash provided by financing activities	8,609,000	10,403,000	77,361,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,125,000	2,967,000	10,489,000
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	9,364,000	6,397,000
CASH AND CASH EQUIVALENTS, END OF PERIOD	10,489,000	9,364,000	10,489,000
SUPPLEMENTAL DISCLOSURE-Cash paid for interest			114,000
NONCASH FINANCING ACTIVITIES:
Issuance of equity warrants in connection with equity offerings		4,445,000	9,482,000
Conversion of accrued expenses into common stock		26,000	329,000
Conversion and redemptions of convertible notes and accrued interest into common stock			12,243,000
Conversion of extension costs related to convertible notes into common stock			171,000
Payment of preferred stock dividends in common stock	867,000	976,000	5,022,000
Issuance of warrants to induce conversion of notes payable			503,000
Issuance of stock to acquire Pro-Pharmaceuticals-NV			107,000
Series A 12% Convertible Preferred Stock
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of convertible preferred stock and related warrants			1,691,000
Series B-1 12% redeemable convertible preferred stock
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of redeemable convertible preferred stock and related warrants			1,548,000
Series B-2 12% redeemable convertible preferred stock
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of redeemable convertible preferred stock and related warrants			3,935,000
Series C super dividend convertible preferred stock
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of convertible preferred stock and related warrants			$ 2,203,000

Nature of Business and Basis of Presentation

12 Months Ended

Dec. 31, 2013

Nature of Business and Basis of Presentation

1.	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.

The Company has operated at a loss since its inception and has had no revenues. The Company anticipates that losses will continue for the foreseeable future. At December 31, 2013, the Company had $10,489,000 of unrestricted cash and cash equivalents available to fund future operations. Additionally, in January and February 2014, the Company received $28,178,000 in net proceeds from the issuance of common stock at market through its at the market (“ATM”) financing arrangement and $1,500,000 from the exercise of stock purchase warrants.

As shown in the consolidated financial statements, the Company incurred cumulative net losses applicable to common stockholders of $102.2 million for the period from inception (July 10, 2000) through December 31, 2013. 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, 2013, the Company had raised a net total of $77.4 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, 2013, the Company used cash of $66.0 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.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”).

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, 2013 and 2012, the Company had $0 and $583,000, 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 amortization, and are depreciated or amortized 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. At December 31, 2013 and 2012, the Company had a security deposit of $6,000 for leased office space. The security deposit was included in Prepaid Expenses and Other Current Assets at December 31, 2013.

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 2013 and 2012 was $7,000 and $6,000, respectively. Gross intangible assets at December 31, 2013 and 2012 totaled $78,000 each year, and accumulated amortization at December 31, 2013 and 2012 totaled $55,000 and $48,000, 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.

Accrued Expenses. As part of the process of preparing our consolidated financial statements, we are required to estimate accrued expenses. This process involves identifying services that third parties have performed on our behalf and estimating the level of service performed and the associated cost incurred on these services as of each balance sheet date in our consolidated financial statements. Examples of estimated accrued expenses include contract service fees in conjunction with pre-clinical and clinical trials, professional service fees, such as those arising from the services of attorneys and accountants and accrued payroll expenses. In connection with these service fees, our estimates are most affected by our understanding of the status and timing of services provided relative to the actual services incurred by the service providers. In the event that we do not identify certain costs that have been incurred or we under- or over-estimate the level of services or costs of such services, our reported expenses for a reporting period could be understated or overstated. The date on which certain services commence, the level of services performed on or before a given date, and the cost of services are often subject to our judgment. We make these judgments based upon the facts and circumstances known to us in accordance with accounting principles generally accepted in the U.S.

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 using assumptions regarding volatility of our common share price, remaining life of the warrant, and risk-free interest rates at each period end. There were no warrant liabilities as of December 31, 2013 or 2012.

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. Stock options issued to non-employees are accounted for in accordance with the provisions of ASC Subtopic 505-50, Equity-Based Payments to Non-employees, which requires valuing the stock options using an option pricing model (the Company uses Black-Scholes) and measuring such stock options to their current fair value when they vest.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Agreement with PROCAPS S.A. and Research Grants

12 Months Ended

Dec. 31, 2013

Agreement with PROCAPS S.A. and Research Grants

3.	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.

Property and Equipment

12 Months Ended

Dec. 31, 2013

Property and Equipment

4.	Property and Equipment

Property and equipment consists of the following at December 31:


	2013			2012
	(in thousands)
Leasehold improvements	$	2		$	2
Computer and office equipment		13			13
Furniture and fixtures		59			59

Total		74			74
Less accumulated depreciation and amortization		(71	)		(66	)

Property and equipment—net	$	3		$	8

Depreciation and amortization expense for the years ended December 31, 2013 and 2012 was $5,000 and $3,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Accrued Expenses

12 Months Ended

Dec. 31, 2013

Accrued Expenses

5.	Accrued Expenses

Accrued expenses consist of the following at December 31:


	2013		2012
	(in thousands)
Legal and accounting fees	$	103	$	109
Accrued compensation		526		42
Severance agreement (Note 11)		1,000		1,000
Other		22		10

Total	$	1,651	$	1,161

Stockholders' Deficit

12 Months Ended

Dec. 31, 2013

Stockholders' Deficit

6.	Stockholders’ Deficit

At December 31, 2013, 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 the underwritten financing as described above, 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.

2013 Private Placement of Common Stock

On August 16, 2013, the Company issued 500,000 unregistered shares of its common stock for proceeds of $3,000,000 to a single investor pursuant to a private placement. There were no warrants or placement fees associated with this transaction.

2013 At Market Issuance of Common Stock

On October 25, 2013, the Company entered into an At Market Issuance Sales Agreement (the “At Market Agreement”) with a sales agent under which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $30.0 million from time to time through the sales agent. Sales of the Company’s common stock through the sales agent, if any, will be made by any method that is deemed an “at the market” offering as defined by the U.S. Securities and Exchange Commission. The Company will pay to the sales agent a commission rate equal to 3.0% of the gross proceeds from the sale of any shares of common stock sold through the sales agent under the At Market Agreement. As of December 31, 2013, the Company had issued 99,942 shares of its common stock through its At Market issuance program at an average price of $9.02 per share resulting in gross proceeds of approximately $944,000. The Company incurred one time, initial legal and accounting costs of approximately $82,000 and commissions of $29,000 resulting in net proceeds of $833,000 as of December 31, 2013. In January and February 2014, the Company issued 2,663,647 shares of common stock for net proceeds of approximately $28,178,000 which completed the At Market Agreement.

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.

In 2013, 110,000 shares of Series A were converted into 18,387 shares of common stock. Prior to 2013, a total of 180,000 shares of Series A had been converted into 30,000 shares of common stock.

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 two-thirds (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.

Liquidation Rights. In the event of any liquidation, dissolution or winding up of the Company, either voluntarily or involuntarily, the holders of Series B will receive $2 per share plus accrued and unpaid dividends, payable prior and in preference to any distributions to the holders of Common Stock but pari passu with the holders of the Series A 12% Convertible Preferred Stock.

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. All Class A-1 warrants were exercised for cash proceeds of $3,000,000 in 2011 and 500,000 of the Class A-2 warrants were exercised for cash proceeds of $1,500,000 in 2013. Subsequently, in January 2014, the remaining 500,000 Class A-2 warrants were exercised for cash proceeds of $1,500,000.

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. Additionally, in January 2011, the Company sold and issued 13 shares of Series C at a price of $10,000 per share for gross proceeds of $130,000.

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, 2013, the 196 outstanding shares of Series C were convertible into a total of approximately 326,667 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 semiannually 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 2013, 24 shares of Series C were converted into 40,193 shares of common stock and 24 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, 2013 and 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:


ROI Percentage

200%		before the second anniversary of the date of issuance;
250%		on or after the second anniversary of the date of issuance, but before the third anniversary of the date of issuance;
300%		on or after the third anniversary of the date of issuance, but before the fourth anniversary of the date of issuance;
350%		on or after the fourth anniversary of the date of issuance, but before the fifth anniversary of the date of issuance;
400%		on or after the fifth anniversary of the date of issuance, but before the sixth anniversary of the date of issuance;
450%		on or after the sixth anniversary of the date of issuance, but before the seventh anniversary of the date of issuance;
500%		on or after the seventh anniversary of the date of issuance, but before the eighth anniversary of the date of issuance; and
550%		on or after the eighth anniversary of the date of issuance, but before the ninth anniversary of the date of issuance.

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, 2013 and 2012. At December 31, 2013, the Series C redemption value was $5,547,000.

Voting Rights. The Series C shares have no voting rights.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

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-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Number 210

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

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-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

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-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

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-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

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-Name Accounting Standards Codification

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-Paragraph 3

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-Paragraph 11

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-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph d

-Article 4

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+ Details

Warrants and Warrant Liabilities

12 Months Ended

Dec. 31, 2013

Warrants and Warrant Liabilities

7.	Warrants and Warrant Liabilities

Warrants

Warrant activity is summarized as follows:


Outstanding at December 31, 2011	6,673,405
Issued	1,379,739
Cancelled	(616,726	)
Exercised	(12,177	)

Outstanding at December 31, 2012	7,424,241

Issued	5,000
Cancelled	(1,344,012	)
Exercised	(50,000	)

Outstanding at December 31, 2013	6,035,229

The following table summarizes information with regard to outstanding warrants issued in connection with equity and debt financings and consultants as of December 31, 2013.


Issued in Connection With	Number Issued		Exercise Price		Exercisable Date		Expiration Date
February 12, 2009 Series B-1 Transaction
$0.50 Investor Warrants—Class B		1,200,000	$	3.00		February 12, 2009		February 12, 2014
May 13, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		600,000	$	3.00		May 13, 2009		May 13, 2014
June 30, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		33,333	$	3.00		June 30, 2009		June 30, 2014
$0.50 Investor Warrants—Class B		333,333	$	3.00		June 30, 2009		June 30, 2014
May 1, 2009 Consultant Warrants		6,250	$	3.00		May 1, 2009		May 1, 2014
June 30, 2009 Consultant Warrants		40,000	$	3.00		June 30, 2009		June 30, 2014
August 12, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		50,000	$	3.00		August 12, 2009		August 12, 2014
$0.50 Investor Warrants—Class B		200,000	$	3.00		August 12, 2009		August 12, 2014
September 30, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		54,166	$	3.00		September 30, 2009		September 30, 2014
$0.50 Investor Warrants—Class B		216,666	$	3.00		September 30, 2009		September 30, 2014
November 4, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		51,666	$	3.00		November 4, 2009		November 4, 2014
$0.50 Investor Warrants—Class B		206,666	$	3.00		November 4, 2009		November 4, 2014
December 8, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		54,167	$	3.00		December 8, 2009		December 8, 2014
$0.50 Investor Warrants—Class B		216,667	$	3.00		December 8, 2009		December 8, 2014
January 29, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		54,167	$	3.00		January 29, 2010		January 29, 2015
$0.50 Investor Warrants—Class B		216,667	$	3.00		January 29, 2010		January 29, 2015
March 8, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		55,834	$	3.00		March 8, 2010		March 8, 2015
$0.50 Investor Warrants—Class B		223,334	$	3.00		March 8, 2010		March 8, 2015
April 30, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		51,667	$	3.00		April 30, 2010		April 30, 2015
$0.50 Investor Warrants—Class B		206,667	$	3.00		April 30, 2010		April 30, 2015
May 10, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		95,000	$	3.00		May 10, 2010		May 10, 2015
$0.50 Investor Warrants—Class B		380,000	$	3.00		May 10, 2010		May 10, 2015
May 25, 2010 Consultant Warrants		14,584	$	4.50		May 25, 2010		May 25, 2014
May 25, 2010 Consultant Warrants		7,500	$	15.00		May 25, 2010		May 25, 2014
June 15, 2010 Consultant Warrants		100,000	$	4.26		June 15, 2010		June 15, 2015
December 9, 2010 Consultant Warrants		33,334	$	3.90		December 9, 2010		December 9, 2015
December 30, 2010 Placement Agent Warrants		500	$	7.20		December 30, 2010		December 30, 2015
March 28, 2012 Offering Warrants		1,333,061	$	5.63		March 28, 2012		March 28, 2017

Total outstanding warrants		6,035,229

In January 2014, the remaining 500,000 Class A-2 warrants were exercised for cash proceeds of $1,500,000.

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 were exercisable at $3.00 per share for a period of three years and expired in 2011.

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. The 33,333 warrants that had vested from the April 2009 issuance expired in April 2013.

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 2013, 67,750 of these warrants were exercised leaving 6,250 outstanding at December 31, 2013.

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. As of December 31, 2013, 14,584 of these warrants were outstanding as 13,750 and 6,667 warrants were exercised during the years ended December 31, 2013 and 2012, respectively.

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. At December 31, 2013, these 7,500 warrants are outstanding.

In June 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 and the 100,000 warrants remain outstanding at December 31, 2013. 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. These warrants are outstanding at December 31, 2013.

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. These warrants are outstanding at December 31, 2013.

In January 2013, the Company entered into an agreement with a consultant that provided for the grant of warrants for the purchase of 5,000 shares of common stock at an exercise price of $2.65 per share. The following assumptions were used to value the warrants: an expected life of 3 years, volatility of 87%, risk free interest rate of 0.42% and zero dividends. The Company recognized an expense of $7,000 related to these warrants at the time of the grant as they were vested at issuance. The warrants were exercised in September 2013.

Warrants Modification

On May 6, 2013, the Company modified the terms of the Class A-2 and Class B warrants that were originally issued to the 10X Fund with the Series B Preferred Stock offering. The Class B warrants were modified to allow for the cashless exercise of all 4,000,000 outstanding Class B warrants. Previously, only half of the Class B warrants allowed for cashless exercise. The Class A-2 warrants for the purchase of 1,000,000 shares of common and all of the Class B warrants had their exercisable life extended by an additional five years. In exchange for these modifications, the 10X Fund agreed to a future amendment of the Company’s Series B certificate of designation to remove the redemption provision such that the Series B Preferred Stock will no longer be redeemable, if and when the Company will no longer be required to issue Dr. Platt a promissory note as may currently be required under the separation agreement (see Note 11). Should the Company amend their Series B certificate of designation in the future as described above, the Company will be required at that time to evaluate whether such amendment is to be accounted for as a modification or an extinguishment of the Company’s Series B Preferred Stock. The Company has accounted for the modified terms of the Class A-2 and Class B warrants pursuant to ASC 718, Stock Compensation, whereby the Company has recognized a charge for the change in fair value of the warrants immediately before and immediately after the modification. In the second quarter of 2013, the Company recognized a one-time charge of $8,763,000 related to the extension of the 5,000,000 warrants. The following assumptions were used to value the extension of the warrants immediately before and immediately after the modification: a) immediately before the modification — an expected life range of 0.77 to 2.01 years, volatility range of 77% to 96%, risk free interest rate range of 0.11% to 0.22% and zero dividends and; b) immediately following the modification — an expected life range of 5.78 to 7.02 years, volatility range of 113% to 122%, risk free interest rate range of 0.74% to 1.19% 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.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2013

Stock-Based Compensation

8.	Stock-Based Compensation

Summary of Stock-Based Compensation Plans

At December 31, 2013, 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. Originally, there were 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, 2013, there were no shares were available for future grant under the Incentive Plan as the terms of the Incentive Plan did not allow for grants to be made after 10 years; however, there were 194,167 options outstanding 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 originally reserved 166,667 shares of common stock for issuance upon exercise of grants made under the Director Plan. At December 31, 2013, there were no shares were available for future grant under the Director Plan as the terms of the Director Plan did not allow for grants to be made after 10 years; however, there were 5,168 options outstanding 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, 2013, 709,638 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, 1,416,669 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:


	Year Ended December 31,
	2013		2012
Research and development	$	991	$	922
General and administrative		2,798		1,870

Total stock-based compensation expense	$	3,789	$	2,792

The fair value of the options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used:


	2013			2012			Cumulative Period from Inception (July 10, 2000) to December 31, 2013
Risk-free interest rate		1.17	%		0.90	%		1.68	%
Expected life of the options		5.29 years			5.81 years			5.19 years
Expected volatility of the underlying stock		115	%		116	%		119	%
Expected dividend rate		0	%		0	%		0	%

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, 2013, 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:


	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2011		3,091,474		$	6.83
Granted		800,000			2.13
Forfeited/Cancelled		(299,683	)		8.93
Exercised		(51,830	)		2.31

Outstanding, December 31, 2012		3,539,961		$	5.66
Granted		425,426			3.89
Forfeited/Cancelled		(403,674	)		14.19
Exercised		(213,008	)		2.18

Outstanding, December 31, 2013		3,348,705		$	4.70		6.88	$	11,420

Exercisable, December 31, 2013		2,084,463		$	4.43		6.18	$	7,721

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, 2013, based on the closing price of the Company’s common stock of $8.08 on that date.

The weighted-average grant-date fair values of options granted during 2013 and 2012 were $3.17 and $1.77, respectively. As of December 31, 2013 and December 31, 2012, there were unvested options to purchase 1,256,735 and 1,472,051 shares of common stock, respectively. Total expected unrecognized compensation cost related to such unvested options is $4,522,000 at December 31, 2013, which is expected to be recognized over a weighted-average period of 4.5 years.

During the years ended December 31 2013 and 2012, the Company issued shares totaling 213,008 and 51,830, respectively, upon the exercise of options valued at $378,000 and $96,000, respectively. During the years ended December 31, 2013 and 2012, the Company received $271,000 and $0, respectively, for the exercise of stock options. During 2013 and 2012, 173,669 and 90,253 options were exercised on a cashless basis resulting in the issuance of 81,591 and 51,830 shares, respectively. The intrinsic value of options exercised during the years ended December 31, 2013 and 2012 and from the period from inception to December 31, 2013 was $1,498,000, $162,000 and $3,222,000, respectively.

During the years ended December 31, 2013 and 2012, 614,041 and 595,420 options became vested, respectively. The total grant date fair value of options vested during the years ended December 31, 2013, 2012 and the cumulative period from inception to December 31, 2013 was $2,406,000 $2,447,000 and $15,473,000 respectively.

The following table summarizes additional information regarding outstanding and exercisable options under our stock based compensation plans at December 31, 2013:


	Options Outstanding						Options Exercisable
Exercise Price (Range)	Number of Shares		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price
			(in years)
$0.72 – 1.83		531,839		4.33	$	1.60		531,839	$	1.60
$2.08 – 2.88		835,001		7.18		2.30		496,001		2.38
$3.59 – 4.41		358,294		9.40		4.07		99,720		3.90
$5.82 – 7.56		1,551,626		7.11		6.97		884,958		6.97
$8.10 – 11.40		71,945		4.96		9.36		71,945		9.36

		3,348,705		6.88	$	4.70		2,084,463	$	4.43

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.

In September 2013, the Company modified certain vested stock options held by a former member of the Company’s board of directors. The individual left the board on May 23, 2013. The modification extended the contractual period of exercise of 103,158 stock options until the end of their original terms instead of such options expiring 3 months after service on the board ended. As a result, the Company recorded a one-time, non-cash charge of $930,000 in general and administrative expenses related to the modification in for the year ended December 31, 2013.

In June 2013 the Company issued 25,000 options to a consultant for consulting services, which vested in August 2013. The options are exercisable at $3.97 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 ranging from $3.97 per share upon grant to $7.25 per share at completion of vesting. The Company recorded a $173,000 charge to stock compensation expense over the vesting period of the options.

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.


	Number of Shares			Weighted Average Price on Grant
Unvested restricted shares outstanding, December 31, 2010		26,042		$	1.08
Restricted shares issued		20,834			8.04
Restricted shares vested		(46,876	)		4.17

Unvested restricted shares outstanding, December 31, 2011		—		$	—

- 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.

+ References+ Details

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2013

Fair Value of Financial Instruments

9.	Fair Value of Financial Instruments

A summary of changes in the Warrant Liabilities is as follows:


	Fair Value of Warrant Liabilities
	(in thousands)
Balance December 31, 2010	$	861
Change in fair value of warrant liabilities		524
Intrinsic value of liability warrants exercised		(1,385	)

Balance December 31, 2011	$	—

The warrant liabilities in the table above were classified as a Level 2 liability and were valued using the Black-Scholes pricing model.

- 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.

+ References+ Details

Loss Per Share

12 Months Ended

Dec. 31, 2013

Loss Per Share

10.

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.


	Year Ended December 31,
	(in thousands, except share and per share amounts)
	2013			2012
Net loss		(12,088	)		(9,675	)
Preferred stock dividends		(867	)		(976	)
Preferred stock accretion		(229	)		(230	)
Warrant modification		(8,763	)		—

Net loss applicable to common stockholders	$	(21,947	)	$	(10,881	)

Basic and diluted net loss per share	$	(1.30	)	$	(0.72	)
Shares used in computing basic and diluted net loss per share		16,874			15,131

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 are as follows:


	Year Ended December 31,
	2013		2012
	(Shares)		(Shares)
Warrants to purchase shares of common stock		6,035,229		7,424,241
Options to purchase shares of common stock		3,348,705		3,539,961
Shares of common stock issuable upon conversion preferred stock		2,568,771		2,627,110

		11,952,705		13,591,312

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies

11.

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 approximately $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. This lease was continued on a month to month basis from October 1, 2013.

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 $36,000 and $216,000 for the years ended December 31, 2013 and 2012, respectively.

Future minimum payments under this lease as of December 31, 2013 are as follows (in thousands):


Year ended December 31,
2014	$	36

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, 2013 and 2012.

On May 2, 2012, Dr. Platt instituted an arbitration with the American Arbitration Association seeking the $1 million payment based on a claim that the milestone event in the Separation Agreement described in clause (iii) above had occurred. Although the Company had listed its common stock on the Nasdaq Capital Markets as of March 22, 2012, the market capitalization since the listing had not reached $100 million when the arbitration was heard in October 2012. On November 1, 2012, the arbitrator denied Dr. Platt’s demand in all respects.

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 the Company’s former 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 attorney’s 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, and intends a vigorous defense on their behalf. On April 29, 2013, the Court allowed Dr. Traber’s and Mr. McGauley’s motion to dismiss. On May 28, 2013, Dr. Platt filed a Notice of Appeal to appeal the Court’s order allowing the defendants’ motion to dismiss.

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 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. This arbitration has been scheduled for May 2014; however, the ultimate outcome is uncertain and there is no guarantee that the Company will be successful in this demand.

On August 1, 2013, the market capitalization of the Company’s common stock exceeded $100 million and the Company received a letter dated October 1, 2013, demanding payment of the $1 million. As described in the preceding paragraph, the Company had previously instituted an arbitration proceeding against Dr. Platt seeking to rescind the Separation Agreement, including the milestone payment provision, and the Company is currently delaying payment pending the outcome of this arbitration.

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.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Income Taxes

12 Months Ended

Dec. 31, 2013

Income Taxes

12.

Income Taxes

The components of the net deferred tax assets are as follows at December 31:


	2013			2012
	(in thousands)
Operating loss carryforwards	$	25,881		$	21,753
Tax credit carryforwards		400			317
Other temporary differences		4,302			2,921

		30,583			24,991
Less valuation allowance		(30,583	)		(24,991	)

Net deferred tax asset	$	—		$	—

The primary factors affecting the Company’s income tax rates were as follows:


	2013			2012
Tax benefit at U.S. statutory rates		(34	%)		(34	%)
State tax benefit		(5.3	%)		(5.3	%)
Credit		0	%		(0.2	%)
Permanent differences		0.9	%		1.4	%
Expiring state NOL’s		1.8	%		3.3	%
Changes in valuation allowance		36.6	%		34.8	%

		0	%		0	%

As of December 31, 2013, the Company has federal and state net operating loss carryforwards totaling $69,888,000 and $29,881,000 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 $284,000 and $176,000, 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.

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. As of December 31, 2013 and 2012, the Company does not have any significant uncertain tax positions.

- 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.

+ References+ Details

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2013
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, 2013 and 2012, the Company had $0 and $583,000, 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 amortization, and are depreciated or amortized 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. At December 31, 2013 and 2012, the Company had a security deposit of $6,000 for leased office space. The security deposit was included in Prepaid Expenses and Other Current Assets at December 31, 2013.
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 2013 and 2012 was $7,000 and $6,000, respectively. Gross intangible assets at December 31, 2013 and 2012 totaled $78,000 each year, and accumulated amortization at December 31, 2013 and 2012 totaled $55,000 and $48,000, 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.
Accrued Expenses	Accrued Expenses. As part of the process of preparing our consolidated financial statements, we are required to estimate accrued expenses. This process involves identifying services that third parties have performed on our behalf and estimating the level of service performed and the associated cost incurred on these services as of each balance sheet date in our consolidated financial statements. Examples of estimated accrued expenses include contract service fees in conjunction with pre-clinical and clinical trials, professional service fees, such as those arising from the services of attorneys and accountants and accrued payroll expenses. In connection with these service fees, our estimates are most affected by our understanding of the status and timing of services provided relative to the actual services incurred by the service providers. In the event that we do not identify certain costs that have been incurred or we under- or over-estimate the level of services or costs of such services, our reported expenses for a reporting period could be understated or overstated. The date on which certain services commence, the level of services performed on or before a given date, and the cost of services are often subject to our judgment. We make these judgments based upon the facts and circumstances known to us in accordance with accounting principles generally accepted in the U.S.
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 using assumptions regarding volatility of our common share price, remaining life of the warrant, and risk-free interest rates at each period end. There were no warrant liabilities as of December 31, 2013 or 2012.
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. Stock options issued to non-employees are accounted for in accordance with the provisions of ASC Subtopic 505-50, Equity-Based Payments to Non-employees, which requires valuing the stock options using an option pricing model (the Company uses Black-Scholes) and measuring such stock options to their current fair value when they vest.

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2013

Property and Equipment

Property and equipment consists of the following at December 31:


	2013			2012
	(in thousands)
Leasehold improvements	$	2		$	2
Computer and office equipment		13			13
Furniture and fixtures		59			59

Total		74			74
Less accumulated depreciation and amortization		(71	)		(66	)

Property and equipment—net	$	3		$	8

Stockholders' Deficit (Tables)

12 Months Ended

Dec. 31, 2013

Return on Investment


ROI Percentage

200%		before the second anniversary of the date of issuance;
250%		on or after the second anniversary of the date of issuance, but before the third anniversary of the date of issuance;
300%		on or after the third anniversary of the date of issuance, but before the fourth anniversary of the date of issuance;
350%		on or after the fourth anniversary of the date of issuance, but before the fifth anniversary of the date of issuance;
400%		on or after the fifth anniversary of the date of issuance, but before the sixth anniversary of the date of issuance;
450%		on or after the sixth anniversary of the date of issuance, but before the seventh anniversary of the date of issuance;
500%		on or after the seventh anniversary of the date of issuance, but before the eighth anniversary of the date of issuance; and
550%		on or after the eighth anniversary of the date of issuance, but before the ninth anniversary of the date of issuance.

Warrants and Warrant Liabilities (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Information with Regard to Outstanding Warrants Issued in Connection with Equity and Debt Financings and Consultants

Warrant activity is summarized as follows:


Outstanding at December 31, 2011	6,673,405
Issued	1,379,739
Cancelled	(616,726	)
Exercised	(12,177	)

Outstanding at December 31, 2012	7,424,241

Issued	5,000
Cancelled	(1,344,012	)
Exercised	(50,000	)

Outstanding at December 31, 2013	6,035,229

The following table summarizes information with regard to outstanding warrants issued in connection with equity and debt financings and consultants as of December 31, 2013.


Issued in Connection With	Number Issued		Exercise Price		Exercisable Date		Expiration Date
February 12, 2009 Series B-1 Transaction
$0.50 Investor Warrants—Class B		1,200,000	$	3.00		February 12, 2009		February 12, 2014
May 13, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		600,000	$	3.00		May 13, 2009		May 13, 2014
June 30, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		33,333	$	3.00		June 30, 2009		June 30, 2014
$0.50 Investor Warrants—Class B		333,333	$	3.00		June 30, 2009		June 30, 2014
May 1, 2009 Consultant Warrants		6,250	$	3.00		May 1, 2009		May 1, 2014
June 30, 2009 Consultant Warrants		40,000	$	3.00		June 30, 2009		June 30, 2014
August 12, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		50,000	$	3.00		August 12, 2009		August 12, 2014
$0.50 Investor Warrants—Class B		200,000	$	3.00		August 12, 2009		August 12, 2014
September 30, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		54,166	$	3.00		September 30, 2009		September 30, 2014
$0.50 Investor Warrants—Class B		216,666	$	3.00		September 30, 2009		September 30, 2014
November 4, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		51,666	$	3.00		November 4, 2009		November 4, 2014
$0.50 Investor Warrants—Class B		206,666	$	3.00		November 4, 2009		November 4, 2014
December 8, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		54,167	$	3.00		December 8, 2009		December 8, 2014
$0.50 Investor Warrants—Class B		216,667	$	3.00		December 8, 2009		December 8, 2014
January 29, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		54,167	$	3.00		January 29, 2010		January 29, 2015
$0.50 Investor Warrants—Class B		216,667	$	3.00		January 29, 2010		January 29, 2015
March 8, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		55,834	$	3.00		March 8, 2010		March 8, 2015
$0.50 Investor Warrants—Class B		223,334	$	3.00		March 8, 2010		March 8, 2015
April 30, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		51,667	$	3.00		April 30, 2010		April 30, 2015
$0.50 Investor Warrants—Class B		206,667	$	3.00		April 30, 2010		April 30, 2015
May 10, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class A-2		95,000	$	3.00		May 10, 2010		May 10, 2015
$0.50 Investor Warrants—Class B		380,000	$	3.00		May 10, 2010		May 10, 2015
May 25, 2010 Consultant Warrants		14,584	$	4.50		May 25, 2010		May 25, 2014
May 25, 2010 Consultant Warrants		7,500	$	15.00		May 25, 2010		May 25, 2014
June 15, 2010 Consultant Warrants		100,000	$	4.26		June 15, 2010		June 15, 2015
December 9, 2010 Consultant Warrants		33,334	$	3.90		December 9, 2010		December 9, 2015
December 30, 2010 Placement Agent Warrants		500	$	7.20		December 30, 2010		December 30, 2015
March 28, 2012 Offering Warrants		1,333,061	$	5.63		March 28, 2012		March 28, 2017

Total outstanding warrants		6,035,229

- 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.

+ References+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

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:


	Year Ended December 31,
	2013		2012
Research and development	$	991	$	922
General and administrative		2,798		1,870

Total stock-based compensation expense	$	3,789	$	2,792

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:


	2013			2012			Cumulative Period from Inception (July 10, 2000) to December 31, 2013
Risk-free interest rate		1.17	%		0.90	%		1.68	%
Expected life of the options		5.29 years			5.81 years			5.19 years
Expected volatility of the underlying stock		115	%		116	%		119	%
Expected dividend rate		0	%		0	%		0	%

Summary of Stock Option Activity

The following table summarizes the stock option activity in the stock based compensation plans:


	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2011		3,091,474		$	6.83
Granted		800,000			2.13
Forfeited/Cancelled		(299,683	)		8.93
Exercised		(51,830	)		2.31

Outstanding, December 31, 2012		3,539,961		$	5.66
Granted		425,426			3.89
Forfeited/Cancelled		(403,674	)		14.19
Exercised		(213,008	)		2.18

Outstanding, December 31, 2013		3,348,705		$	4.70		6.88	$	11,420

Exercisable, December 31, 2013		2,084,463		$	4.43		6.18	$	7,721

Summary of Additional Information Regarding Outstanding and Exercisable Options under Stock Based Compensation Plans

The following table summarizes additional information regarding outstanding and exercisable options under our stock based compensation plans at December 31, 2013:


	Options Outstanding						Options Exercisable
Exercise Price (Range)	Number of Shares		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price
			(in years)
$0.72 – 1.83		531,839		4.33	$	1.60		531,839	$	1.60
$2.08 – 2.88		835,001		7.18		2.30		496,001		2.38
$3.59 – 4.41		358,294		9.40		4.07		99,720		3.90
$5.82 – 7.56		1,551,626		7.11		6.97		884,958		6.97
$8.10 – 11.40		71,945		4.96		9.36		71,945		9.36

		3,348,705		6.88	$	4.70		2,084,463	$	4.43

Unvested Restricted Shares


	Number of Shares			Weighted Average Price on Grant
Unvested restricted shares outstanding, December 31, 2010		26,042		$	1.08
Restricted shares issued		20,834			8.04
Restricted shares vested		(46,876	)		4.17

Unvested restricted shares outstanding, December 31, 2011		—		$	—

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2013

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.


	Year Ended December 31,
	(in thousands, except share and per share amounts)
	2013			2012
Net loss		(12,088	)		(9,675	)
Preferred stock dividends		(867	)		(976	)
Preferred stock accretion		(229	)		(230	)
Warrant modification		(8,763	)		—

Net loss applicable to common stockholders	$	(21,947	)	$	(10,881	)

Basic and diluted net loss per share	$	(1.30	)	$	(0.72	)
Shares used in computing basic and diluted net loss per share		16,874			15,131

Dilutive Shares Which Could Exist Pursuant to Exercise of Outstanding Stock Instruments and Which were not Included in Calculation


	Year Ended December 31,
	2013		2012
	(Shares)		(Shares)
Warrants to purchase shares of common stock		6,035,229		7,424,241
Options to purchase shares of common stock		3,348,705		3,539,961
Shares of common stock issuable upon conversion preferred stock		2,568,771		2,627,110

		11,952,705		13,591,312

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2013

Future Minimum Payments of Operating Lease

Future minimum payments under this lease as of December 31, 2013 are as follows (in thousands):


Year ended December 31,
2014	$	36

- 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.

+ References+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Components of Net Deferred Tax Assets

The components of the net deferred tax assets are as follows at December 31:


	2013			2012
	(in thousands)
Operating loss carryforwards	$	25,881		$	21,753
Tax credit carryforwards		400			317
Other temporary differences		4,302			2,921

		30,583			24,991
Less valuation allowance		(30,583	)		(24,991	)

Net deferred tax asset	$	—		$	—

Primary Factors Affecting Income Tax Rates

The primary factors affecting the Company’s income tax rates were as follows:


	2013			2012
Tax benefit at U.S. statutory rates		(34	%)		(34	%)
State tax benefit		(5.3	%)		(5.3	%)
Credit		0	%		(0.2	%)
Permanent differences		0.9	%		1.4	%
Expiring state NOL’s		1.8	%		3.3	%
Changes in valuation allowance		36.6	%		34.8	%

		0	%		0	%

Nature of Business and Basis of Presentation - Additional Information (Detail) (USD $)	0 Months Ended	1 Months Ended	12 Months Ended		162 Months Ended		12 Months Ended	2 Months Ended	1 Months Ended
	Feb. 25, 2008	Mar. 23, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2013 At Market Agreement	Feb. 28, 2014 Subsequent Event At Market Agreement	Mar. 23, 2012 Reverse Split
Basis of Presentation [Line Items]
Reverse stock split ratio		1.6667							1.6667
Unrestricted cash and cash equivalents			$ 10,489,000	$ 9,364,000	$ 10,489,000	$ 6,397,000
Net proceeds from issuance of common stock			3,833,000	10,403,000	42,926,000		833,000	28,178,000
Cash proceeds from warrant exercises			1,500,000
Net losses applicable to common stockholders			(21,947,000)	(10,881,000)	(102,221,000)
Net total capital through sale and issuance of common stock and warrants	1,044,000		3,833,000		77,400,000
Net cash used in operating activities			$ (7,484,000)	$ (7,500,000)	$ (66,037,000)

- 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.

+ References+ Details

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Significant Accounting Policies [Line Items]
Security deposit for leased office space	$ 6,000	$ 6,000
Estimated useful lives of intangible assets	5 years
Amortization expense of intangible assets	7,000	6,000
Gross intangible assets	78,000	78,000
Accumulated amortization of intangible assets	55,000	48,000
Fair Value, Inputs, Level 2 \| Money market funds
Significant Accounting Policies [Line Items]
Money market funds	$ 0	$ 583,000
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

Agreement with Procaps S.a. and Research Grants - Additional Information (Detail) (USD $)	12 Months Ended			162 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2013
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue		$ 200,000
Federal grants award	200,000		489,000	691,000
Federal grant received		$ 234,000	$ 255,000

Property and Equipment (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 74	$ 74
Less accumulated depreciation and amortization	(71)	(66)
Property and equipment-net	3	8
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2	2
Computer and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	13	13
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 59	$ 59

Accrued Expenses (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2009
Schedule of Accrued Liabilities [Line Items]
Legal and accounting fees	$ 103	$ 109
Accrued compensation	526	42
Severance agreement (Note 11)	1,000	1,000	1,000
Other	22	10
Total	$ 1,651	$ 1,161

- 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).

+ References+ Details

- 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).

+ References+ Details

Stockholders' Deficit - Additional Information (Detail) (USD $)	0 Months Ended																		1 Months Ended							3 Months Ended	12 Months Ended					162 Months Ended		12 Months Ended		2 Months Ended			0 Months Ended		0 Months Ended	12 Months Ended		12 Months Ended				12 Months Ended	162 Months Ended				12 Months Ended		0 Months Ended							12 Months Ended		0 Months Ended								0 Months Ended		12 Months Ended			0 Months Ended			0 Months Ended	12 Months Ended		16 Months Ended		12 Months Ended	0 Months Ended												1 Months Ended	12 Months Ended		16 Months Ended			12 Months Ended								0 Months Ended									1 Months Ended	0 Months Ended									1 Months Ended	0 Months Ended									1 Months Ended					12 Months Ended				12 Months Ended						0 Months Ended	12 Months Ended				0 Months Ended					12 Months Ended				0 Months Ended		12 Months Ended
	Aug. 16, 2013	Mar. 28, 2012	Mar. 22, 2012	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	Feb. 12, 2009	Jul. 02, 2008	May 21, 2008	Feb. 25, 2008	Feb. 04, 2008	Jan. 14, 2003	Mar. 23, 2012	Dec. 30, 2010	May 13, 2009	May 31, 2003	Jan. 31, 2003	Sep. 30, 2002	Aug. 31, 2001	Jun. 30, 2008	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2002	Dec. 31, 2001	Dec. 31, 2013	Dec. 26, 2008	Dec. 31, 2013 At Market Agreement	Oct. 25, 2013 At Market Agreement	Feb. 28, 2014 At Market Agreement Subsequent Event	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, 2013 Additional Paid-in Capital	Dec. 31, 2013 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. 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. 28, 2012 Warrant 7	Mar. 22, 2012 Warrant 7	Apr. 30, 2009 Warrant 7	Feb. 04, 2008 Warrant	Dec. 31, 2011 Warrant	Dec. 31, 2011 Series A One Warrant	Dec. 31, 2013 Series A Two Warrant	Dec. 31, 2011 Series A Two Warrant	Jan. 31, 2014 Series A Two Warrant Subsequent Event	Dec. 31, 2011 Series A and B Warrants	Dec. 31, 2012 Series A Redeemable Convertible Preferred Stock	Feb. 12, 2009 Series B-1 12% redeemable convertible preferred stock	Dec. 31, 2013 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	Dec. 31, 2013 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-2 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, 2013 Series B-2 12% redeemable convertible preferred stock	Dec. 31, 2012 Series B-2 12% redeemable convertible preferred stock	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, 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-2 Warrants	Apr. 30, 2010 Series B-2 12% redeemable convertible preferred stock Class A-2 Warrants	Mar. 08, 2010 Series B-2 12% redeemable convertible preferred stock Class A-2 Warrants	Jan. 29, 2010 Series B-2 12% redeemable convertible preferred stock Class A-2 Warrants	Dec. 08, 2009 Series B-2 12% redeemable convertible preferred stock Class A-2 Warrants	Nov. 04, 2009 Series B-2 12% redeemable convertible preferred stock Class A-2 Warrants	Sep. 30, 2009 Series B-2 12% redeemable convertible preferred stock Class A-2 Warrants	Aug. 12, 2009 Series B-2 12% redeemable convertible preferred stock Class A-2 Warrants	Jun. 30, 2009 Series B-2 12% redeemable convertible preferred stock Class A-2 Warrants	May 13, 2009 Series B-2 12% redeemable convertible preferred stock Class A-2 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	Dec. 31, 2013 Series C super dividend convertible preferred stock	Jul. 31, 2011 Series C super dividend convertible preferred stock	Jan. 31, 2011 Series C super dividend convertible preferred stock	Dec. 30, 2010 Series C super dividend convertible preferred stock	Dec. 31, 2013 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, 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 First Payment	Dec. 31, 2011 Series C super dividend convertible preferred stock Second Payment	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	Feb. 04, 2008 Series A 12% Convertible Preferred Stock	Dec. 31, 2013 Series A 12% Convertible Preferred Stock	Dec. 31, 2012 Series A 12% Convertible Preferred Stock	Dec. 31, 2011 Series A 12% Convertible Preferred Stock	Dec. 31, 2008 Series A 12% Convertible Preferred Stock	Feb. 04, 2008 Series A 12% Convertible Preferred Stock Minimum	Feb. 04, 2008 Series A 12% Convertible Preferred Stock Scenario 1	Feb. 04, 2008 Series A 12% Convertible Preferred Stock Scenario 2	Feb. 04, 2008 Series A 12% Convertible Preferred Stock First Payment	Feb. 04, 2008 Series A 12% Convertible Preferred Stock Second Payment	Dec. 31, 2007 Series A 12% Convertible Preferred Stock Period 1	Dec. 31, 2008 Series A 12% Convertible Preferred Stock Period 2	Dec. 31, 2013 Common Stock	Dec. 31, 2012 Common Stock	Jan. 26, 2011 Series B redeemable convertible preferred stock	Feb. 12, 2009 Series B redeemable convertible preferred stock	Dec. 31, 2013 Series B redeemable convertible preferred stock	Dec. 31, 2011 Series B redeemable convertible preferred stock	Jan. 26, 2011 Series B redeemable convertible 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
Undesignated stock, undesignated																												11,999,000
Shares of common stock issued	500,000	2,666,722														1,250,000		181,334				399,917								537,227	114,884			99,942		2,663,647																	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																																											13	212
Proceeds from sale of common stock	$ 3,000,000																	$ 1,070,000				$ 4,671,000								$ 2,861,000	$ 2,221,000
Stock issuance costs	0															369,000		18,000				128,000								212,000	17,000								3,000														49,000		485,000	466,000	559,000															3,000																																																																									47,000											52,000
Warrants issued	0	46,378												50,000			1,400			500		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														6.00			9.00			7.20		32.40			39.00					21.00																									4.20	31.80	31.74	4.20	31.80	41.16	5.63	39.00	30.00	3.50	4.20	3.78					3.00							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		$ 8.08			$ 21.00	$ 13.68	$ 8.08																		$ 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																		$ 9.02																				$ 21.00	$ 18.00	$ 21.60	$ 21.00
Proceeds from issuance of common stock																											3,833,000	10,403,000				42,926,000		833,000		28,178,000																	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	1,548,000			3,381,000					801,000																																																													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											3,833,000					77,400,000																3,832,000
Fair value assumptions, term of warrants																																																																			5 years	4 months	5 years	4 years 1 month 6 days											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%	1.05%	0.78%											1.79%																											2.27%	1.98%	2.43%	2.70%
Fair value assumptions, volatility rate																	95.00%																																																		95.00%	95.00%	119.00%	117.00%											118.00%																											126.00%	124.00%	129.00%	127.00%
Change in fair value of warrant liabilities															100,000											356,000			524,000			(9,022,000)
Warrant liability credited to additional paid in capital														20,000	502,000											2,160,000	(8,763,000)
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		4,445,000	143,000																									4,445,000				9,482,000
Warrant exercise value		5.63																									4,505,000					18,812,000																4,504,000	18,808,000
Reverse stock split ratio																			1.6667
Issuance of shares related to reverse split of common stock																			3,324
Aggregate offering price																																			30,000,000
Commission to sales agent as a percentage of gross proceeds																																			3.00%
Gross proceeds from sale of common stock																																		944,000
Initial legal and accounting costs																																		82,000
Commissions																																		29,000
Preferred stock, dividend rate																																																																																																																																																			6.00%									12.00%			12.00%													12.00%
Stock price per share																																																																																																																																																$ 10,000	$ 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
Conversion of Series A to common stock																																																																																																																																																													110,000	180,000										18,387	30,000
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%
Liquidation preference per share after series A preferred stock																																																																																																																																																			$ 10,000																									$ 2
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
Cash proceeds from warrant exercises																											1,500,000																																															3,000,000	1,500,000		1,500,000
Number of warrants exercised																																																																											500,000		500,000
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																																																																																																																																																130,000	2,120,000
Proceeds from issuance of preferred stock, net																																																																																																																																																	2,073,000
Convertible preferred shares																																																																																																																																														24	5			196
Common stocks issued upon conversion of Preferred Stock																											81,591	51,830																																																																																																																		40,193	8,334			326,667
Dividend as percentage of net sales																																																																																																																																																										2.50%	1.25%
Convertible preferred stock dividend																																																																																																																																																							100,000
Post conversion dividend rights issued																																																																																																																																														24	5
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																																								$ 5,547,000				$ 5,547,000

Return on Investment (Detail) (Series C super dividend convertible preferred stock)	12 Months Ended
	Dec. 31, 2011
Period 1
Class of Stock [Line Items]
ROI Percentage	200.00%
Redemption date	before the second anniversary of the date of issuance;
Period 2
Class of Stock [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
Class of Stock [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
Class of Stock [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
Class of Stock [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
Class of Stock [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
Class of Stock [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
Class of Stock [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.

Summary of Warrant Activity (Detail)	12 Months Ended
Summary of Warrant Activity (Detail)	Dec. 31, 2013	Dec. 31, 2012
Shares
Beginning Balance	7,424,241	6,673,405
Issued	5,000	1,379,739
Cancelled	(1,344,012)	(616,726)
Exercised	(50,000)	(12,177)
Ending Balance	6,035,229	7,424,241

Summary of Information with Regard to Outstanding Warrants Issued in Connection with Equity and Debt Financing and Consultants (Detail)									12 Months Ended
	Dec. 31, 2013	Mar. 28, 2012	Dec. 30, 2010	Jul. 02, 2008	Feb. 04, 2008	May 31, 2003	Dec. 31, 2002	Aug. 31, 2001	Dec. 31, 2013 February 12, 2009 Series B-1 Transaction	Dec. 31, 2013 May 13, 2009 Series B-2 Transaction	Dec. 31, 2013 June 30, 2009 Series B-2 Transaction Warrant 5	Dec. 31, 2013 June 30, 2009 Series B-2 Transaction Warrant 6	Dec. 31, 2013 May 1, 2009 Consultant Warrants	Dec. 31, 2013 June 30, 2009 Consultant Warrants	Dec. 31, 2013 August 12, 2009 Series B-2 Transaction Warrant 5	Dec. 31, 2013 August 12, 2009 Series B-2 Transaction Warrant 6	Dec. 31, 2013 September 30, 2009 Series B-2 Transaction Warrant 5	Dec. 31, 2013 September 30, 2009 Series B-2 Transaction Warrant 6	Dec. 31, 2013 November 4, 2009 Series B-2 Transaction Warrant 5	Dec. 31, 2013 November 4, 2009 Series B-2 Transaction Warrant 6	Dec. 31, 2013 December 8, 2009 Series B-2 Transaction Warrant 5	Dec. 31, 2013 December 8, 2009 Series B-2 Transaction Warrant 6	Dec. 31, 2013 January 29, 2010 Series B-2 Transaction Warrant 5	Dec. 31, 2013 January 29, 2010 Series B-2 Transaction Warrant 6	Dec. 31, 2013 March 8, 2010 Series B-2 Transaction Warrant 5	Dec. 31, 2013 March 8, 2010 Series B-2 Transaction Warrant 6	Dec. 31, 2013 April 30, 2010 Series B-2 Transaction Warrant 5	Dec. 31, 2013 April 30, 2010 Series B-2 Transaction Warrant 6	Dec. 31, 2013 May 10, 2010 Series B-2 Transaction Warrant 5	Dec. 31, 2013 May 10, 2010 Series B-2 Transaction Warrant 6	Dec. 31, 2013 May Twenty Five Twenty Ten Consultant Warrants First Issuance	Dec. 31, 2013 May Twenty Five Twenty Ten Consultant Warrants Second Issuance	Dec. 31, 2013 June 15, 2010 Consultant Warrants	Dec. 31, 2013 December 9, 2010 Consultant Warrants	Dec. 31, 2013 December 30, 2010 Placement Agent Warrants	Dec. 31, 2013 March Twenty Eight Twenty Twelve Offering Warrants
Equity [Line Items]
Number Issued	6,035,229								1,200,000	600,000	33,333	333,333	6,250	40,000	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	14,584	7,500	100,000	33,334	500	1,333,061
Exercise Price			7.20	6.00	9.00	32.40	21.00	39.00	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
Exercisable Date									Feb. 12, 2009	May 13, 2009	Jun. 30, 2009	Jun. 30, 2009	May 01, 2009	Jun. 30, 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
Expiration Date		May 02, 2016							Feb. 12, 2014	May 13, 2014	Jun. 30, 2014	Jun. 30, 2014	May 01, 2014	Jun. 30, 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

Summary of Information with Regard to Outstanding Warrants Issued in Connection with Equity and Debt Financing and Consultants (Parenthetical) (Detail) (USD $)	12 Months Ended
	Dec. 31, 2013
February 12, 2009 Series B-1 Transaction
Equity [Line Items]
Warrant issuance date	Feb. 12, 2009
February 12, 2009 Series B-1 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
May 13, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	May 13, 2009
May 13, 2009 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
June 30, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Jun. 30, 2009
June 30, 2009 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
June 30, 2009 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
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
August 12, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Aug. 12, 2009
August 12, 2009 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
August 12, 2009 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
September 30, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Sep. 30, 2009
September 30, 2009 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
September 30, 2009 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
November 4, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Nov. 04, 2009
November 4, 2009 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
November 4, 2009 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
December 8, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Dec. 08, 2009
December 8, 2009 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
December 8, 2009 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
January 29, 2010 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Jan. 29, 2010
January 29, 2010 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
January 29, 2010 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
March 8, 2010 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Mar. 08, 2010
March 8, 2010 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
March 8, 2010 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
April 30, 2010 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Apr. 30, 2010
April 30, 2010 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
April 30, 2010 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
May 10, 2010 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	May 10, 2010
May 10, 2010 Series B-2 Transaction \| Warrant 5
Equity [Line Items]
Warrant issued price per share	$ 0.50
May 10, 2010 Series B-2 Transaction \| Warrant 6
Equity [Line Items]
Warrant issued price per share	$ 0.50
May Twenty Five Twenty Ten Consultant Warrants \| First Issuance
Equity [Line Items]
Warrant issuance date	May 25, 2010
May Twenty Five Twenty Ten Consultant Warrants \| Second Issuance
Equity [Line Items]
Warrant issuance date	May 25, 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

Warrants and Warrant Liabilities - Additional Information (Detail) (USD $)	0 Months Ended					1 Months Ended		3 Months Ended		6 Months Ended	12 Months Ended				162 Months Ended		0 Months Ended		1 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 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	12 Months Ended	1 Months Ended
	Aug. 16, 2013	Mar. 28, 2012	Jul. 02, 2008	May 21, 2008	Feb. 04, 2008	Dec. 30, 2010	May 31, 2003	Jun. 30, 2013 Warrants	Jun. 30, 2008	Jun. 30, 2013 Warrants	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2002	Dec. 31, 2013	Aug. 31, 2001	May 06, 2013 Class B Warrants	May 06, 2013 Class A-2 Warrants	Jan. 31, 2013 Warrant	Jun. 30, 2013 Before Modification	Jun. 30, 2013 Before Modification	Jun. 30, 2013 After Modification	Jun. 30, 2013 After Modification	Dec. 31, 2013 Minimum	Jun. 30, 2013 Minimum Before Modification	Jun. 30, 2013 Minimum Before Modification	Jun. 30, 2013 Minimum After Modification	Jun. 30, 2013 Minimum After Modification	Dec. 31, 2013 Maximum	Jun. 30, 2013 Maximum Before Modification	Jun. 30, 2013 Maximum Before Modification	Jun. 30, 2013 Maximum After Modification	Jun. 30, 2013 Maximum After Modification	Dec. 31, 2008 Adoption of New Accounting Pronouncement Effect	Jan. 31, 2014 Subsequent Event Class A-2 Warrants	Apr. 30, 2009 Warrant 7	Dec. 31, 2012 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, 2009 Warrant 8	Dec. 31, 2013 Warrant 8	Dec. 31, 2010 Warrant 8	Dec. 31, 2013 Warrant Eleven	Dec. 31, 2012 Warrant Eleven	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, 2013 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	Jun. 30, 2010 Warrant Twelve	Dec. 31, 2011 Warrant Twelve	Dec. 31, 2010 Warrant Twelve	Dec. 31, 2013 Warrant Twelve	Dec. 31, 2010 Warrant Thirteen First Issuance	Dec. 31, 2010 Warrant Thirteen First Issuance	Dec. 31, 2010 Warrant Thirteen Second Issuance	May 31, 2008 Investor Relations Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Issued											6,035,229				6,035,229		4,000,000																		500,000								6,250		14,584							7,500								100,000
Value of warrants																																			$ 1,500,000	$ 32,000		$ 104,000		$ 16,000	$ 124,000	$ 232,000					$ 134,000		$ 40,000												$ 112,000		$ 2,000	$ 3,000
Warrants issued in period	0	46,378	50,000		1,400	500	18,269							18,334																																																		6,500
Exercise price of warrant			6.00		9.00	7.20	32.40							21.00		39.00			2.65																	3.00						3.00			13,750	6,667	4.50		15.00								4.26				3.90	3.90	7.20	3.00
Warrants exercise period																																																																3 years
Warrant, expiration year																																																																2011
Warrants to purchase shares of common stock																			5,000																	55,000						95,834					35,001		12,000								100,000				33,334	33,334	500
Vested warrant																																				13,334	33,333			8,334		74,000		74,000						7,500							25,000
Warrant that will vest upon the achievement of certain milestones																																				41,666					33,332																50,000
Expected life											5 years 3 months 15 days	5 years 9 months 22 days			5 years 2 months 9 days				3 years					5 years	9 months 7 days	9 months 7 days	5 years 9 months 11 days	5 years 9 months 11 days	10 years	2 years 4 days	2 years 4 days	7 years 7 days	7 years 7 days			4 years		1 year 3 months 15 days		3 years 22 days	2 years 3 months 15 days	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
Expected volatility of the underlying stock											115.00%	116.00%			119.00%				87.00%																	134.00%		70.00%		140.00%	141.00%	124.00%					143.00%		143.00%				128.00%	130.00%	130.00%	144.00%	135.00%				130.00%		130.00%
Risk free interest rate											1.17%	0.90%			1.68%				0.42%																	1.76%		0.12%		1.69%	0.61%	2.16%					1.61%		1.61%				0.79%	0.51%	1.29%	1.68%	1.705%				1.90%		2.06%
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%		0.00%
Stock-based compensation expense											3,789,000	2,792,000			16,163,000				7,000																				111,000					53,000				134,000		12,000	15,000							340,000	219,000			112,000
Reversal of stock-based compensation expense												100,000																										13,000
Forfeited warrant											1,344,012	616,726																														21,834		21,834						4,500
warrant exercised																																											67,750
Warrant vesting per month																																																	500
Warrant expected to vest in one year																																																									25,000
Warrants for purchase common stock shares																		1,000,000
Warrants exercisable life extended period																	5 years	5 years
Expense related to extension of warrants								8,763,000		8,763,000
Number of warrants required for extensions								5,000,000		5,000,000
Volatility rate,minimum																				77.00%	77.00%	113.00%	113.00%
Volatility rate,maximum																				96.00%	96.00%	122.00%	122.00%
Risk free interest,minimum																				0.11%	0.11%	0.74%	0.74%
Risk free interest,maximum																				0.22%	0.22%	1.19%	1.19%
Expected dividend payment																				0	0	0	0
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				$ 100,000					$ 356,000				$ 524,000		$ (9,022,000)

Stock-Based Compensation - Additional Information (Detail) (USD $)	1 Months Ended	12 Months Ended			162 Months Ended							12 Months Ended					2 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		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				1 Months Ended	12 Months Ended	1 Months Ended		12 Months Ended				12 Months Ended
	Feb. 28, 2009	Dec. 31, 2013 CompensationPlan	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013 CompensationPlan	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, 2013 Cashless	Dec. 31, 2012 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	Sep. 30, 2013 Stock Options	Sep. 30, 2013 Stock Options Amendment	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	Jun. 30, 2013 Consultant	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, 2013 Minimum	Dec. 31, 2011 Minimum	Jun. 30, 2013 Minimum Consultant	Dec. 31, 2013 Maximum	Apr. 30, 2004 Maximum Investor Relations Firm	Mar. 31, 2004 Maximum Investor Relations Firm	Jun. 30, 2013 Maximum Consultant	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, 2013 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, 2013 Non Employee Director Stock Options Plan, Twenty Zero Three	Dec. 31, 2003 Non Employee Director Stock Options Plan, Twenty Zero Three	Dec. 31, 2013 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																					103,158																																																																					833,334					166,667		3,333,334
Stock awards, vesting period																																																																																										3 years
Stock options expiration period																																																																																												3 years	10 years
Non-plan grants outstanding		3,348,705	3,539,961	3,091,474	3,348,705																																																																																						194,167			5,168				1,416,669
Stock awards, grant period																																																																																											10 years			10 years
Stock awards, available for future grant																																																																																																709,638
Non-plan stock option grants to employees and non-employees																																																																																																		1,477,379
Expected life		5 years 3 months 15 days	5 years 9 months 22 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		$ 2,406,000	$ 2,447,000		$ 15,473,000							$ 5,000,000,000	$ 10,000,000,000
Unrecognized compensation cost		4,522,000			4,522,000											1,006,000
Unrecognized compensation cost, recognition period		4 years 6 months														5 years 6 months
Annualized volatility		115.00%	116.00%		119.00%											110.00%
Annualized risk free rate		1.17%	0.90%		1.68%											3.50%
Common stock price		$ 8.08			$ 8.08	$ 2.40	$ 3.54	$ 6.00	$ 21.00	$ 13.68	$ 13.68																																																																					$ 9.00
Weighted-average grant-date fair values of options granted		$ 3.17	$ 1.77
Unvested option		1,256,735	1,472,051		1,256,735
Number of stock options exercised		213,008	51,830											173,669	90,253																																							8,334
Stock options exercised		378,000	96,000
Proceeds from exercise of stock options		271,000	0
Number of shares issued in the conversion of options in a noncash transaction		81,591	51,830																																																2,772
Intrinsic value of options exercised		1,498,000	162,000		3,222,000
Number of options vested	83,334	614,041	595,420														10,000			2,500				334	3,334	334																															834	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		$ 3.89	$ 2.13																					$ 21.00									$ 21.00									$ 15.66	$ 21.00						$ 24.30		$ 17.82	$ 24.30				$ 30.96	$ 34.80						$ 3.97					$ 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									$ 3.97				$ 7.25	$ 13.68
Stock-based compensation expense		3,789,000	2,792,000		16,163,000																									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	173,000											33,000	24,000	15,000	2,000	110,000									71,000	64,000	147,000
Number of options granted per month																								334
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			25,000					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																		930,000
Common stock options granted, shares																																																																4,348	7,000
Fair market value of shares																																																																10,000	16,000
Stock options expiration period																						3 months
Stock option vested date																																																															2013-08
Restricted common stock granted		5,000	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

Weighted Average Assumptions Used to Determine Fair Value of Options Granted (Detail)	12 Months Ended		162 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.17%	0.90%	1.68%
Expected life of the options	5 years 3 months 15 days	5 years 9 months 22 days	5 years 2 months 9 days
Expected volatility of the underlying stock	115.00%	116.00%	119.00%
Expected dividend rate	0.00%	0.00%	0.00%

Summary of Stock Option Activity (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Shares
Beginning Balance	3,539,961	3,091,474
Granted	425,426	800,000
Forfeited/Cancelled	(403,674)	(299,683)
Exercised	(213,008)	(51,830)
Ending Balance	3,348,705	3,539,961
Exercisable, December 31, 2013	2,084,463
Weighted Average Exercise Price
Beginning Balance	$ 5.66	$ 6.83
Granted	$ 3.89	$ 2.13
Forfeited/Cancelled	$ 14.19	$ 8.93
Exercised	$ 2.18	$ 2.31
Ending Balance	$ 4.70	$ 5.66
Exercisable, December 31, 2013	$ 4.43
Weighted Average Remaining Contractual Life (Years)
Outstanding, December 31, 2013	6 years 10 months 17 days
Exercisable, December 31, 2013	6 years 2 months 5 days
Stock Options Aggregate Intrinsic Value
Outstanding, December 31, 2013	$ 11,420
Exercisable, December 31, 2013	$ 7,721

Summary of Additional Information Regarding Outstanding and Exercisable Options under Stock Based Compensation Plans (Detail) (USD $)	12 Months Ended
	Dec. 31, 2013
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]
Options Outstanding, Number of Shares	3,348,705
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 10 months 17 days
Options Outstanding, Weighted Average Exercise Price	$ 4.70
Options Exercisable, Number of Shares	2,084,463
Options Exercisable, Weighted Average Exercise Price	$ 4.43
$0.72-$1.83
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]
Minimum Exercise Price	$ 0.72
Maximum Exercise Price	$ 1.83
Options Outstanding, Number of Shares	531,839
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 3 months 29 days
Options Outstanding, Weighted Average Exercise Price	$ 1.60
Options Exercisable, Number of Shares	531,839
Options Exercisable, Weighted Average Exercise Price	$ 1.60
$2.08-$2.88
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]
Minimum Exercise Price	$ 2.08
Maximum Exercise Price	$ 2.88
Options Outstanding, Number of Shares	835,001
Options Outstanding, Weighted Average Remaining Contractual Life	7 years 2 months 5 days
Options Outstanding, Weighted Average Exercise Price	$ 2.30
Options Exercisable, Number of Shares	496,001
Options Exercisable, Weighted Average Exercise Price	$ 2.38
$3.59-$4.41
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]
Minimum Exercise Price	$ 3.59
Maximum Exercise Price	$ 4.41
Options Outstanding, Number of Shares	358,294
Options Outstanding, Weighted Average Remaining Contractual Life	9 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price	$ 4.07
Options Exercisable, Number of Shares	99,720
Options Exercisable, Weighted Average Exercise Price	$ 3.90
$5.82-$7.56
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]
Minimum Exercise Price	$ 5.82
Maximum Exercise Price	$ 7.56
Options Outstanding, Number of Shares	1,551,626
Options Outstanding, Weighted Average Remaining Contractual Life	7 years 1 month 10 days
Options Outstanding, Weighted Average Exercise Price	$ 6.97
Options Exercisable, Number of Shares	884,958
Options Exercisable, Weighted Average Exercise Price	$ 6.97
$8.10-$11.40
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding By Exercise Price [Line Items]
Minimum Exercise Price	$ 8.10
Maximum Exercise Price	$ 11.40
Options Outstanding, Number of Shares	71,945
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 11 months 16 days
Options Outstanding, Weighted Average Exercise Price	$ 9.36
Options Exercisable, Number of Shares	71,945
Options Exercisable, Weighted Average Exercise Price	$ 9.36

Unvested Restricted Shares (Detail) (USD $)				12 Months Ended
Unvested Restricted Shares (Detail) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2011 Restricted Stock
Number of Shares
Beginning Balance	6,035,229	7,424,241	6,673,405	26,042
Restricted shares issued				20,834
Restricted shares vested				(46,876)
Ending Balance	6,035,229	7,424,241	6,673,405
Weighted average price on grant
Unvested restricted shares outstanding, beginning balance				$ 1.08
Restricted shares issued				$ 8.04
Restricted shares vested				$ 4.17

Changes in Warrant Liabilities (Detail) (USD $)	0 Months Ended	3 Months Ended	12 Months Ended	162 Months Ended
Changes in Warrant Liabilities (Detail) (USD $)	May 21, 2008	Jun. 30, 2008	Dec. 31, 2011	Dec. 31, 2013
Warranty Liability [Line Items]
Beginning Balance			$ 861,000
Change in fair value of warrant liabilities	100,000	356,000	524,000	(9,022,000)
Intrinsic value of liability warrants exercised			$ (1,385)

Computation of Diluted Net Loss Per Share (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	0 Months Ended		3 Months Ended	12 Months Ended		162 Months Ended
	Jul. 02, 2008	May 21, 2008	Jun. 30, 2008	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net loss				$ (12,088)	$ (9,675)	$ (84,080)
Preferred stock dividends				(867)	(976)	(5,104)
Preferred stock accretion				(229)	(230)	(4,274)
Warrant modification	20	502	2,160	(8,763)
Net loss applicable to common stockholders				$ (21,947)	$ (10,881)	$ (102,221)
Basic and diluted net loss per share				$ (1.30)	$ (0.72)
Shares used in computing basic and diluted net loss per share				16,874	15,131

- Definition

Amount of increase in additional paid in capital (APIC) resulting from the issuance of warrants. Includes allocation of proceeds of debt securities issued with detachable stock purchase warrants.

+ References+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

+ Details

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, 2013	Dec. 31, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	11,952,705	13,591,312
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	6,035,229	7,424,241
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	3,348,705	3,539,961
Contingently Issuable Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	2,568,771	2,627,110

- 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.

+ References+ Details

Commitments and Contingencies - Additional Information (Detail) (USD $)	0 Months Ended			1 Months Ended			12 Months Ended				1 Months Ended
	Mar. 29, 2013	Oct. 12, 2012	May 02, 2012	Oct. 31, 2012	Jul. 31, 2011	Feb. 28, 2009	Dec. 31, 2013	Dec. 31, 2012	Aug. 01, 2013	Dec. 31, 2011	Sep. 30, 2012 Norcross	Feb. 28, 2009 Minimum
Commitment And Contingencies [Line Items]
Operating lease agreements, period				1 year							26 months
Operating lease agreements, Expiry date											Nov. 30, 2014
Base rent					$ 235,000						$ 3,000
Operating lease agreements, Security Deposit											6,000
Operating lease agreements, rent				15,000
Lease expiration date					Sep. 30, 2012
Lease extension period					1 year
Bank deposit										59,000
Operating lease					44,000		36,000	216,000
Operating lease period					1 year
Severance payment due to Dr. Platt						1,000,000	1,000,000	1,000,000
Cashless stock option exercisable period							6 years 2 months 5 days					10 years
Number of options vested						83,334	614,041	595,420
Equity investment												10,000,000
Royalty revenue						50,000,000
Cashless stock option exercisable							2,084,463					50,000
Market capitalization						100,000,000			100,000,000
Severance payment period						6 months
Separation based payments			1,000,000
Lawsuit payment		1,000,000
Milestone payments	1,000,000
Expected future payment									$ 1,000,000

Components of Net Deferred Tax Assets (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Components Of Deferred Tax Assets And Liabilities [Line Items]
Operating loss carryforwards	$ 25,881	$ 21,753
Tax credit carryforwards	400	317
Other temporary differences	4,302	2,921
Deferred Tax Assets, Gross, Total	30,583	24,991
Less valuation allowance	(30,583)	(24,991)
Net deferred tax asset

Primary Factors Affecting Income Tax Rates (Detail)	12 Months Ended
Primary Factors Affecting Income Tax Rates (Detail)	Dec. 31, 2013	Dec. 31, 2012
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	0.00%	(0.20%)
Permanent differences	0.90%	1.40%
Expiring state NOL's	1.80%	3.30%
Changes in valuation allowance	36.60%	34.80%
Effective Income Tax Rate Reconciliation, Percent, Total	0.00%	0.00%

Income Taxes - Additional Information (Detail) (USD $)	12 Months Ended
Income Taxes - Additional Information (Detail) (USD $)	Dec. 31, 2013
Income Taxes [Line Items]
Benefits related to stock options	$ 707,000
Deferred tax asset valuation allowance percentage in each of the last two years	100.00%
Internal Revenue Service (IRS)
Income Taxes [Line Items]
Net operating loss carryforwards	69,888,000
Operating loss carryforwards, expiration year	2032
Research and development credits	284,000
Research and development credits, expiration year	2032
State and Local Jurisdiction
Income Taxes [Line Items]
Net operating loss carryforwards	29,881,000
Operating loss carryforwards, expiration year	2032
Research and development credits	$ 176,000
Research and development credits, expiration year	2032

Stock-Based Compensation Expense Related to Common Stock Options, Restricted Common Stock and Common Stock Warrants (Detail) (USD $)	12 Months Ended		162 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 3,789,000	$ 2,792,000	$ 16,163,000
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	991,000	922,000
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,798,000	$ 1,870,000

Subsequent Events - Additional Information (Detail) (Subsequent Event, Research, USD $)	1 Months Ended
	Jan. 31, 2014
Subsequent Event \| Research
Subsequent Event [Line Items]
Initial capital contribution	$ 400,000