Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Mar. 06, 2015	Jun. 30, 2014
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
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	Accelerated Filer
Entity Common Stock, Shares Outstanding		23,546,315
Entity Public Float			$ 245,700,000

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 29,128	$ 10,489
Prepaid expenses and other current assets	533	198
Total current assets	29,661	10,687
Property and equipment, net	1	3
Intangible assets, net	15	23
Total assets	29,677	10,713
Current liabilities:
Accounts payable	906	762
Accrued expenses	729	1,651
Accrued dividends payable	68	73
Total current liabilities	1,703	2,486
Total liabilities	1,703	2,486
Commitments and contingencies (Note 9)
Stockholders' equity:
Undesignated stock, $0.01 par value; 20,000,000 shares authorized at December 31, 2014 and 2013, 8,001,000 shares designated at December 31, 2014 and 2013
Series A 12% convertible preferred stock; 5,000,000 shares authorized, 1,402,500 and 1,452,500 issued and outstanding at December 31, 2014 and 2013, liquidation value $1,445,000 at December 31, 2014,	567	587
Common stock, $0.001 par value; 50,000,000 shares authorized at December 31, 2014 and 2013, 22,277,283 and 18,386,900 issued and outstanding at December 31, 2014 and 2013, respectively	22	18
Additional paid-in capital	139,531	102,841
Retained deficit	(118,925)	(101,965)
Total stockholders' equity	21,195	1,481
Total liabilities, redeemable convertible preferred stock and stockholders' equity	29,677	10,713
Series B-1 12% redeemable convertible preferred stock
Current liabilities:
Convertible preferred stock, value	1,731	1,715
Series B-2 12% Redeemable Convertible Preferred Stock
Current liabilities:
Convertible preferred stock, value	3,325	3,112
Series C Super Dividend Convertible Preferred Stock
Current liabilities:
Convertible preferred stock, value	$ 1,723	$ 1,919

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
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	1,402,500	1,452,500
Series A 12% convertible preferred stock, outstanding	1,402,500	1,452,500
Series A 12% convertible preferred stock, liquidation value	$ 1,445,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, issued	22,277,283	18,386,900
Common stock, outstanding	22,277,283	18,386,900
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	176	196
Convertible preferred stock, shares outstanding	176	196
Convertible preferred stock, redemption value	4,835,000
Convertible preferred stock, liquidation value	$ 1,786,000
Undesignated stock, shares designated	1,000

Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating expenses:
Research and development	$ 8,425	$ 5,688	$ 4,527
General and administrative	7,005	6,416	5,372
Total operating expenses	15,430	12,104	9,899
Total operating loss	(15,430)	(12,104)	(9,899)
Other income (expense):
Interest income	42	16	24
Loss from equity method investment in Galectin Sciences, LLC	(400)
Other income			200
Total other income (expense)	(358)	16	224
Net loss	(15,788)	(12,088)	(9,675)
Preferred stock dividends	(943)	(867)	(976)
Preferred stock accretion	(229)	(229)	(230)
Warrant modification		(8,763)
Net loss applicable to common stockholders	$ (16,960)	$ (21,947)	$ (10,881)
Basic and diluted net loss per share	$ (0.78)	$ (1.30)	$ (0.72)
Shares used in computing basic and diluted net loss per share	21,849	16,874	15,131

Consolidated Statement Of Changes In Redeemable Convertible Preferred Stock And Stockholders' Equity (Deficit) (USD $)	Total USD ($)	Series B redeemable convertible preferred stock USD ($)	Series C super dividend convertible preferred stock USD ($)	Consultant USD ($)	Series B-1 12% redeemable convertible preferred stock USD ($)	Series B-1 12% redeemable convertible preferred stock Series B redeemable convertible preferred stock USD ($)	Series B-2 12% Redeemable Convertible Preferred Stock USD ($)	Series B-2 12% Redeemable Convertible Preferred Stock Series B redeemable convertible preferred stock USD ($)	Series C Super Dividend Convertible Preferred Stock USD ($)	Series C Super Dividend Convertible Preferred Stock USD ($)	Series A 12% Convertible Preferred Stock USD ($)	Series A 12% Convertible Preferred Stock 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	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 ($)	Additional Paid-In Capital Consultant USD ($)	Retained Deficit USD ($)	Retained Deficit Series B redeemable convertible preferred stock USD ($)	Retained Deficit Series A 12% Convertible Preferred Stock USD ($)	Retained Deficit Series B-1 12% redeemable convertible preferred stock USD ($)	Retained Deficit Series B-2 12% Redeemable Convertible Preferred Stock USD ($)	Retained Deficit Series C super dividend convertible preferred stock USD ($)
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
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 shares)													2,666,722
Issuance of common stock and warrants, net of issuance costs of $1,597,000	10,403,000												3,000						10,400,000
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 shares related to reverse split of common stock													3,324
Issuance of redeemable convertible preferred stock (in shares)													30,000
Issuance of common stock upon exercise of warrants													12,177
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
Stock-based compensation expense	2,766,000																		2,766,000
Net loss	(9,675,000)																								(9,675,000)
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
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)
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 (in shares)										(24)		(110,000)	18,387	18,387			40,193
Issuance of redeemable convertible preferred stock			235,000							(235,000)		(45,000)								45,000			235,000
Issuance of common stock upon exercise of warrants													1,284,948
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
Modification of warrants																			8,763,000						(8,763,000)
Stock-based compensation expense	3,789,000																		3,789,000
Net loss	(12,088,000)																								(12,088,000)
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
Accretion of redeemable convertible preferred stock	(173,000)				16,000		157,000																		(173,000)
Accretion of beneficial conversion feature for Series B-2	(56,000)						56,000																		(56,000)
Convertible preferred stock dividend (in shares)														19,490	32,043	74,764	13,152
Convertible preferred stock dividend																				154,000	206,000	480,000	103,000				(154,000)	(206,000)	(480,000)	(103,000)
Issuance of redeemable convertible preferred stock (in shares)										(20)		(50,000)	8,334	8,350			33,756
Issuance of redeemable convertible preferred stock			196,000							(196,000)		(20,000)								20,000			196,000
Issuance of common stock upon exercise of warrants													572,148
Issuance of common stock upon exercise of warrants	1,676,000												1,000						1,675,000
Issuance of common stock upon exercise of options	246,445												246,445
Issuance of common stock upon exercise of options	452,000																		452,000
Issuance of common stock (in shares)													2,881,269					8,966
Issuance of common stock	29,337,000			100,000									3,000						29,334,000					100,000
Stock-based compensation expense	3,970,000																		3,970,000
Net loss	(15,788,000)																								(15,788,000)
Ending Balance at Dec. 31, 2014	$ 21,195,000				$ 1,731,000		$ 3,325,000		$ 1,723,000		$ 567,000		$ 22,000						$ 139,531,000						$ (118,925,000)
Ending Balance (in shares) at Dec. 31, 2014					900,000		2,100,000		176		1,402,500		22,277,283

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (15,788)	$ (12,088)	$ (9,675)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	10	12	9
Stock-based compensation expense	4,070	3,789	2,792
Loss from equity method investment in Galectin Sciences LLC	400
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(335)	(39)	(55)
Accounts payable and accrued expenses (Notes 2 and 8)	(783)	848	(577)
Other long-term liabilities		(6)	6
Net cash used in operating activities	(12,426)	(7,484)	(7,500)
CASH FLOWS FROM INVESTING ACTIVITIES:
Equity method investment in Galectin Sciences LLC	(400)
Purchases of property and equipment			(5)
Change in restricted cash and security deposit			69
Net cash provided by (used in) investing activities	(400)		64
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock and warrants	29,337	3,833	10,403
Net proceeds from exercise of common stock warrants and options	2,128	4,776
Net cash provided by financing activities	31,465	8,609	10,403
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	18,639	1,125	2,967
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	10,489	9,364	6,397
CASH AND CASH EQUIVALENTS, END OF PERIOD	29,128	10,489	9,364
NONCASH FINANCING ACTIVITIES:
Payment of preferred stock dividends in common stock	$ 943	$ 867	$ 976

Nature of Business and Basis of Presentation

12 Months Ended

Dec. 31, 2014

Nature of Business and Basis of Presentation

1.	Nature of Business and Basis of Presentation

Galectin Therapeutics Inc. (the “Company”) is a clinical stage biopharmaceutical 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, 2014, the Company had $29,128,000 of unrestricted cash and cash equivalents available to fund future operations. Additionally, in January and February 2015, the Company received $4,127,000 in net proceeds from the issuance of common stock at market through its at the market (“ATM”) financing arrangement.

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 clinical 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, 2014

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 and Galectin Sciences LLC (see Note 10). 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.

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. The Company had no cash equivalents at December 31, 2014 or 2013.

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, 2014 and 2013, 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, 2014.

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 2014 and 2013 was $8,000 and $7,000, respectively. Gross intangible assets at December 31, 2014 and 2013 totaled $78,000 each year, and accumulated amortization at December 31, 2014 and 2013 totaled $63,000 and $55,000, 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, 2014 or 2013.

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.

New Accounting Pronouncements. The Company adopted Financial Accounting Standards Board (FASB), Accounting Standards Update No. 2014-10 “Development Stage Entities (Topic 915)” as of June 30, 2014. This new standard modifies financial statement presentation to eliminate the requirement to include inception-to-date information in the statements of operations and cash flows, among other provisions.

In August 2014, the FASB issued Accounting Standard Update No. 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern. The amendments require management to perform interim and annual assessments of an entity’s ability to continue as a going concern and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. The standard applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact that this new guidance will have on its financial statements.

In July 2013, the FASB issued amended guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. The guidance requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented as a reduction of a deferred tax asset when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists, with certain exceptions. This accounting guidance was effective for annual and interim periods beginning after December 15, 2013. The Company adopted this new guidance beginning with its interim financial statements for the three months ended March 31, 2014. The adoption of this standard did not have a material impact on the Company’s financial statements.

- Definition

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

+ References+ Details

Property and Equipment

12 Months Ended

Dec. 31, 2014

Property and Equipment

3.	Property and Equipment

Property and equipment consists of the following at December 31:


	2014			2013
	(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		(73	)		(71	)

Property and equipment—net	$	1		$	3

Depreciation and amortization expense for the years ended December 31, 2014 and 2013 was $2,000 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, 2014

Accrued Expenses

4.	Accrued Expenses

Accrued expenses consist of the following at December 31:


	2014		2013
	(in thousands)
Legal and accounting fees	$	118	$	103
Accrued compensation		604		526
Severance agreement (Note 11)		—		1,000
Other		7		22

Total	$	729	$	1,651

Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders' Equity

5.	Stockholders’ Equity

At December 31, 2014, the Company had 50,000,000 shares of common stock and 20,000,000 undesignated shares authorized. As of December 31, 2014, 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.

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 “2013 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 2013 At Market Agreement. As of December 31, 2013, the Company had issued 99,942 shares of its common stock through its 2013 At Market Agreement 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 2013 At Market Agreement.

2014 At Market Issuance of Common Stock

On March 30, 2014, the Company entered into an At Market Issuance Sales Agreement (the “2014 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 2014 At Market Agreement. As of December 31, 2014, the Company had issued 217,622 shares of its common stock through its 2014 At Market Agreement at an average price of $5.49 per share resulting in gross proceeds of approximately $1,196,000. The Company incurred commissions of approximately $36,000 resulting in net proceeds of approximately $1,159,000 as of December 31, 2014. In January and February 2015, the Company issued 1,173,458 shares of common stock for net proceeds of approximately $4,127,000 under the 2014 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 2014 and 2013, 50,000 and 110,000 shares of Series A were converted into 8,334 and 18,387 shares of common stock, respectively. 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 for total net proceeds of $5,483,000.

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, 2014 and 2013.

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, 2014 and 2013.

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, 2014, the 176 outstanding shares of Series C were convertible into a total of approximately 293,340 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. In 2014, 20 shares of Series C were converted into 33,756 shares of common stock and 20 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, 2014 and 2013, 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, 2014 and 2013. At December 31, 2014, the Series C redemption value was $4,835,000.

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

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-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

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

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

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Reference 11: http://www.xbrl.org/2003/role/presentationRef

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+ Details

Warrants and Warrant Liabilities

12 Months Ended

Dec. 31, 2014

Warrants and Warrant Liabilities

6.	Warrants and Warrant Liabilities

Warrants

Warrant activity is summarized as follows:


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

Issued	20,000
Cancelled	(7,500	)
Exercised	(576,734	)

Outstanding at December 31, 2014	5,470,995

The following table summarizes information with regard to outstanding warrants issued in connection with equity and debt financings and consultants as of December 31, 2014.


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, 2019
May 13, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		600,000	$	3.00		May 13, 2009		May 13, 2019
June 30, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		333,333	$	3.00		June 30, 2009		June 30, 2019
August 12, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		200,000	$	3.00		August 12, 2009		August 12, 2019
September 30, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		216,666	$	3.00		September 30, 2009		September 30, 2019
November 4, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		206,666	$	3.00		November 4, 2009		November 4, 2019
December 8, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		216,667	$	3.00		December 8, 2009		December 8, 2019
January 29, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class B		216,667	$	3.00		January 29, 2010		January 29, 2020
March 8, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class B		223,334	$	3.00		March 8, 2010		March 8, 2020
April 30, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class B		206,667	$	3.00		April 30, 2010		April 30, 2020
May 10, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class B		380,000	$	3.00		May 10, 2010		May 10, 2020
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		1,317,161	$	5.63		March 28, 2012		March 28, 2017
October 30, 2014 Consultant Warrants		20,000	$	5.45		October 30, 2014		October 30, 2017

Total outstanding warrants		5,470,995

Consultant Warrants

In October 2014, the Company granted warrants to a consultant for the purchase of 20,000 shares of common stock at an exercise price of $5.45 per share. The warrants were valued at $76,000 on issuance based on the following assumptions: an expected life of 3 years, volatility of 117%, risk free interest rate of 0.91% and zero dividends. The warrants vested immediately and the company recognized an expense of $76000 related to these warrants during the year ended December 31, 2014. These warrants are outstanding at December 31, 2014.

Offering Warrants

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. At December 31, 2014, 1,317,161 of these warrants remain outstanding.

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.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2014

Stock-Based Compensation

7.	Stock-Based Compensation

Summary of Stock-Based Compensation Plans

At December 31, 2014, 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, 2014, 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 166,167 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, 2014, 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, and there were no 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 originally provided for the issuance of up to 3,333,334, which was subsequently increased to 4,733,334 in May 2014, 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, 2014, 1,851,114 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, 2014, 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,
	2014		2013		2012
Research and development	$	1,302	$	991	$	922
General and administrative		2,768		2,798		1,870

Total stock-based compensation expense	$	4,070	$	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:


	2014			2013			2012
Risk-free interest rate		1.58	%		1.17	%		0.90	%
Expected life of the options		6 years			5.29 years			5.81 years
Expected volatility of the underlying stock		114	%		115	%		116	%
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, generally with 5 to 6 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, 2014, 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.

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
Granted		354,823			12.72
Forfeited/Cancelled		(124,466	)		3.80
Exercised		(246,445	)		1.97

Outstanding, December 31, 2014		3,332,617		$	5.79		6.51	$	1,383

Exercisable, December 31, 2014		2,444,477		$	5.24		6.22	$	1,272

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, 2014, based on the closing price of the Company’s common stock of $3.47 on that date.

The weighted-average grant-date fair values of options granted during 2014, 2013 and 2012 were $10.75, $3.17 and $1.77, respectively. As of December 31, 2014 and December 31, 2013, there were unvested options to purchase 888,140 and 1,256,735 shares of common stock, respectively. Total expected unrecognized compensation cost related to such unvested options is $4,308,000 at December 31, 2014, which is expected to be recognized over a weighted-average period of 1.61 years.

During the years ended December 31, 2014, 2013 and 2012, the Company issued shares totaling 246,445, 213,008 and 51,830, respectively, upon the exercise of options valued at $411,000 and $378,000, respectively. During the years ended December 31, 2014, 2013 and 2012, the Company received $394,000, $271,000 and 0, respectively, for the exercise of stock options. During 2014, 2013 and 2012, 35,734, 173,669 and 90,253 options were exercised on a cashless basis resulting in the issuance of 26,109, 81,591 and 51,830 shares, respectively. The intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $2,677,000, $1,498,000 and 162,000, respectively.

During the years ended December 31, 2014, 2013 and 2012, 676,335, 614,041 and 595,420 options became vested, respectively. The total grant date fair value of options vested during the years ended December 31, 2014, 2013 and 2012 was $3,711,000, $2,406,000 and $2,447,000 respectively.

The following table summarizes additional information regarding outstanding and exercisable options under our stock based compensation plans at December 31, 2014:


	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)
$1.80 – 1.83		276,669		2.4	$	1.80		276,669	$	1.80
$2.08 – 2.88		761,667		6.7		2.26		669,917		2.26
$3.59 – 4.41		354,954		8.4		4.08		213,242		3.92
$5.00 – 7.56		1,568,382		6.2		6.94		1,083,746		6.93
$8.10 – 11.40		44,445		6.4		8.10		44,445		8.10
$13.38		326,500		9.1		13.38		156,458		13.38

		3,332,617		6.5	$	5.79		2,444,477	$	5.24

Other Stock Based Compensation Transactions

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.

- 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

Loss Per Share

12 Months Ended

Dec. 31, 2014

Loss Per Share

8.	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)
	2014			2013			2012
Net loss	$	(15,788	)	$	(12,088	)	$	(9,675	)
Preferred stock dividends		(943	)		(867	)		(976	)
Preferred stock accretion		(229	)		(229	)		(230	)
Warrant modification		—			(8,763	)		—

Net loss applicable to common stockholders	$	(16,960	)	$	(21,947	)	$	(10,881	)

Basic and diluted net loss per share	$	(0.78	)	$	(1.30	)	$	(0.72	)
Shares used in computing basic and diluted net loss per share		21,849			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,
	2014 (Shares)		2013 (Shares)		2012 (Shares)
Warrants to purchase shares of common stock		5,470,995		6,035,229		7,424,241
Options to purchase shares of common stock		3,332,617		3,348,705		3,539,961
Shares of common stock issuable upon conversion preferred stock		2,527,103		2,568,771		2,627,110

		11,330,715		11,952,705		13,591,312

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies

9.	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. In June 2014, the Company signed an amendment to the lease extending the term through November 30, 2017 with a base monthly rental of approximately $3,300 through the extended term. The original lease provided 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, the Company is 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.

Rent expense under the above operating leases was $44,000 and $39,000 for the years ended December 31, 2014 and 2013, respectively.

Future minimum payments under this lease as of December 31, 2014 are as follows (in thousands):


Year ended December 31,
2015	$	38
2016		40
2017		41

Total	$	119

Separation Agreement

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 which was included in accrued expenses at December 31, 2013.

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. On April 29, 2013, the Superior 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 Superior Court’s order allowing the defendants’ motion to dismiss. On April 14, 2014, the Appeals Court denied Dr. Platt’s appeal of the dismissal in full.

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 claimed 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 sought repayment of all separation benefits paid to Dr. Platt to date.

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 delayed payment pending the outcome of this arbitration. In June 2014, the arbitrator issued a judgment in favor of Dr. Platt. In July 2014, the Company paid the $1 million severance obligation.

Shareholder Class Actions and Derivative Lawsuits

Between July 30, 2014, and August 6, 2014, three putative class action complaints were filed in the United States District Court for the District of Nevada (the “Nevada District Court”) against the Company and certain of its officers and directors on behalf of all persons who purchased or otherwise acquired the Company’s stock between January 6, 2014 and July 28, 2014. The complaints allege that the defendants made false or misleading statements in certain press releases and other public statements in violation of the federal securities laws and seek class certification, unspecified monetary damages, costs, and attorneys’ fees. The Company disputes the allegations in the complaints and intends to vigorously defend against the claims. On August 22, 2014, the Nevada District Court entered an order consolidating the three cases, relieving the defendants of any obligation to respond to the complaints currently on file, and providing that defendants may respond to a consolidated amended complaint after it is filed by a lead plaintiff(s) to be appointed pursuant to the Private Securities Litigation Reform Act of 1995. On January 5, 2015, the Nevada District Court granted Defendants’ motion to transfer the consolidated putative securities class action to the United States District Court for the Northern District of Georgia. The court has not yet appointed a lead plaintiff or plaintiffs, and no consolidated amended complaint has been filed.

On August 1 and 25, 2014, persons claiming to be Galectin shareholders filed putative shareholder derivative complaints in the Nevada District Court, seeking recovery on behalf of the Company against certain of the Company’s directors and officers. On September 10, 2014, the Nevada District Court entered an order consolidating the two cases, relieving the defendants of any obligation to respond to the initial complaints, and providing that defendants may respond to a consolidated amended complaint to be filed by the plaintiffs. On January 5, 2015, the Nevada District Court granted Defendants’ motion to transfer the consolidated putative derivative litigation to the United States District Court for the Northern District of Georgia. The plaintiffs filed a consolidated amended complaint on February 27, 2015. The consolidated amended complaint alleges that the defendants breached their fiduciary duties to the Company’s shareholders by causing or permitting the Company to make allegedly false and misleading public statements concerning the Company’s financial and business prospects. The consolidated amended complaint also alleges that the defendants violated the federal securities laws by allegedly making false or misleading statements of material fact in the Company’s proxy filings, committed “waste” of corporate assets, were unjustly enriched, aided and abetted breaches of fiduciary duties, and that certain defendants breached their fiduciary duties through allegedly improper sales of Galectin stock. The complaints seek unspecified monetary damages on behalf of the Company, corporate governance reforms, disgorgement of profits, benefits and compensation by the defendants, costs, and attorneys’ and experts’ fees. Defendants’ response to the consolidated amended complaint is currently due to be filed on March 30, 2015.

On August 29, 2014, another alleged Galectin shareholder filed a putative shareholder derivative complaint in state court in Las Vegas, Nevada, seeking recovery on behalf of the Company against the same directors and officers who are named as defendants in the derivative litigation pending in the United States District Court for the District of Nevada. The state court derivative plaintiff filed an amended complaint on December 1, 2014, which alleges claims for breach of fiduciary duties, unjust enrichment, and waste of corporate assets, based on allegations that are substantially similar to those in the derivative complaints now pending in the United States District Court for the Northern District of Georgia, and seeks unspecified monetary damages on behalf of the Company, corporate governance reforms, disgorgement of profits, benefits and compensation by the defendants, costs, and attorneys’ and experts’ fees. Defendant filed motion to dismiss the amended complaint on February 26, 2015.

Estimating an amount or range of possible losses resulting from litigation proceedings is inherently difficult and requires an extensive degree of judgment, particularly where the matters involve indeterminate claims for monetary damages, are in the early stages of the proceedings, and are subject to appeal. In addition, because most legal proceedings are resolved over extended periods of time, potential losses are subject to change due to, among other things, new developments, changes in legal strategy, the outcome of intermediate procedural and substantive rulings and other parties’ settlement posture and their evaluation of the strength or weakness of their case against us. For these reasons, we are currently unable to predict the ultimate timing or outcome of, or reasonably estimate the possible losses or a range of possible losses resulting from, the matters described above. Based on information currently available, the Company does not believe that any reasonably possible losses arising from currently pending legal matters will be material to the Company’s results of operations or financial condition. However, in light of the inherent uncertainties involved in such matters, an adverse outcome in one or more of these matters could materially and adversely affect the Company’s financial condition, results of operations or cash flows in any particular reporting period.

Other Legal Proceedings

The Company records accruals for such contingencies to the extent that the Company concludes that their occurrence is probable and the related damages are estimable. There are no other pending legal proceedings except as noted above.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Galectin Sciences LLC

12 Months Ended

Dec. 31, 2014

Galectin Sciences LLC

10.

Galectin Sciences LLC

In January 2014, we created Galectin Sciences, LLC (the “LLC” or “Investee”), a collaborative joint venture co-owned by SBH Sciences, Inc. (“SBH”), to research and develop small organic molecule inhibitors of galectin-3 for oral administration. The LLC was initially capitalized with a $400,000 cash investment to fund future research and development activities, which was provided by the Company, and specific in-process research and development (“IPR&D”) contributed by SBH. The estimated fair value of the IPR&D contributed by SBH, on the date of contribution, was $400,000. Initially, the Company and SBH have a 50% equity ownership interest in the LLC, with neither party having control over the LLC. Accordingly from inception through the fourth quarter of 2014, the Company accounted for its investment in the LLC using the equity method of accounting. Under the equity method of accounting, the Company’s investment was initially recorded at cost with subsequent adjustments to the carrying value to recognize additional investments in or distributions from the Investee, as wells the Company’s share of the Investee’s earnings, losses and/or changes in capital. The estimated fair value of the IPR&D contributed to the LLC was immediately expensed upon contribution as there was no alternative future use available at the point of contribution. The operating agreement provides that if either party does not desire to contribute its equal share of funding required after the initial capitalization, then the other party, providing all of the funding, will have its ownership share increased in proportion to the total amount contributed from inception. In the fourth quarter of 2014, after the LLC had expended the $400,000 in cash, SBH decided not to contribute its share of the funding required. As a result, the Company contributed the $73,000 needed for the fourth quarter of 2014 expenses of the LLC. As a result, the Company’s ownership percentage in the LLC is 54.2% at December 31, 2014. The Company accounts for the interest in the LLC as a consolidated, less than wholly owned subsidiary. The Company’s portion of the LLC’s net loss for 2014, prior to the change in accounting discussed previously, was $400,000, which includes the Company’s proportionate share of the non-cash charge associated with the contributed IPR&D of $200,000.

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Taxes

11.

Income Taxes

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


	2014			2013
	(in thousands)
Operating loss carryforwards	$	30,578		$	25,881
Tax credit carryforwards		645			400
Other temporary differences		4,689			4,302

		35,912			30,583
Less valuation allowance		(35,912	)		(30,583	)

Net deferred tax asset	$	—		$	—

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


	2014			2013			2012
Tax benefit at U.S. statutory rates		(34	%)		(34	%)		(34	%)
State tax benefit		(5.3	%)		(5.3	%)		(5.3	%)
Credit		0	%		0	%		(0.2	%)
Permanent differences		5.4	%		0.9	%		1.4	%
Expiring state NOL’s		1.4	%		1.8	%		3.3	%
Changes in valuation allowance		32.5	%		36.6	%		34.8	%

		0	%%		0	%		0	%

As of December 31, 2014, the Company has federal and state net operating loss carryforwards totaling $82,150,000 and $42,394,000 respectively, which expire through 2033. 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 $468,000 and $176,000, respectively, which expire through 2033. 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, 2014 and 2013, 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

Quarterly financial data (unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly financial data (unaudited)

13.

Quarterly financial data (unaudited)


	2014 Quarters ended

(In thousands except per share data)	December 31			September 30			June 30			March 31

Net loss	$	(3,731	)	$	(3,518	)	$	(3,429	)	$	(5,110	)
Net loss applicable to common stockholders		(3,968	)		(3,853	)		(3,731	)		(5,408	)
Basic and diluted net loss per share	$	(0.17	)	$	(0.17	)	$	(0.17	)	$	(0.27	)

	2013 Quarters ended

(In thousands except per share data)	December 31			September 30			June 30			March 31

Net loss	$	(2,799	)	$	(3,542	)	$	(2,544	)	$	(3,203	)
Net loss applicable to common stockholders		(3,111	)		(3,723	)		(11,641	)		(3,472	)
Basic and diluted net loss per share	$	(0.14	)	$	(0.22	)	$	(0.72	)	$	(0.22	)

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2014
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 and Galectin Sciences LLC (see Note 10). 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.
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. The Company had no cash equivalents at December 31, 2014 or 2013.
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, 2014 and 2013, 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, 2014.
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 2014 and 2013 was $8,000 and $7,000, respectively. Gross intangible assets at December 31, 2014 and 2013 totaled $78,000 each year, and accumulated amortization at December 31, 2014 and 2013 totaled $63,000 and $55,000, 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, 2014 or 2013.
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.
New Accounting Pronouncements	New Accounting Pronouncements. The Company adopted Financial Accounting Standards Board (FASB), Accounting Standards Update No. 2014-10 “Development Stage Entities (Topic 915)” as of June 30, 2014. This new standard modifies financial statement presentation to eliminate the requirement to include inception-to-date information in the statements of operations and cash flows, among other provisions. In August 2014, the FASB issued Accounting Standard Update No. 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern. The amendments require management to perform interim and annual assessments of an entity’s ability to continue as a going concern and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. The standard applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact that this new guidance will have on its financial statements. In July 2013, the FASB issued amended guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. The guidance requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented as a reduction of a deferred tax asset when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists, with certain exceptions. This accounting guidance was effective for annual and interim periods beginning after December 15, 2013. The Company adopted this new guidance beginning with its interim financial statements for the three months ended March 31, 2014. The adoption of this standard did not have a material impact on the Company’s financial statements.

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2014

Property and Equipment

Property and equipment consists of the following at December 31:


	2014			2013
	(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		(73	)		(71	)

Property and equipment—net	$	1		$	3

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

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, 2014

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, 2012	7,424,241
Issued	5,000
Cancelled	(1,344,012	)
Exercised	(50,000	)

Outstanding at December 31, 2013	6,035,229

Issued	20,000
Cancelled	(7,500	)
Exercised	(576,734	)

Outstanding at December 31, 2014	5,470,995

The following table summarizes information with regard to outstanding warrants issued in connection with equity and debt financings and consultants as of December 31, 2014.


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, 2019
May 13, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		600,000	$	3.00		May 13, 2009		May 13, 2019
June 30, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		333,333	$	3.00		June 30, 2009		June 30, 2019
August 12, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		200,000	$	3.00		August 12, 2009		August 12, 2019
September 30, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		216,666	$	3.00		September 30, 2009		September 30, 2019
November 4, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		206,666	$	3.00		November 4, 2009		November 4, 2019
December 8, 2009 Series B-2 Transaction
$0.50 Investor Warrants—Class B		216,667	$	3.00		December 8, 2009		December 8, 2019
January 29, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class B		216,667	$	3.00		January 29, 2010		January 29, 2020
March 8, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class B		223,334	$	3.00		March 8, 2010		March 8, 2020
April 30, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class B		206,667	$	3.00		April 30, 2010		April 30, 2020
May 10, 2010 Series B-2 Transaction
$0.50 Investor Warrants—Class B		380,000	$	3.00		May 10, 2010		May 10, 2020
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		1,317,161	$	5.63		March 28, 2012		March 28, 2017
October 30, 2014 Consultant Warrants		20,000	$	5.45		October 30, 2014		October 30, 2017

Total outstanding warrants		5,470,995

- 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, 2014

Stock-Based Compensation Expense Related to Common Stock Options, Common Stock, 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,
	2014		2013		2012
Research and development	$	1,302	$	991	$	922
General and administrative		2,768		2,798		1,870

Total stock-based compensation expense	$	4,070	$	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:


	2014			2013			2012
Risk-free interest rate		1.58	%		1.17	%		0.90	%
Expected life of the options		6 years			5.29 years			5.81 years
Expected volatility of the underlying stock		114	%		115	%		116	%
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
Granted		354,823			12.72
Forfeited/Cancelled		(124,466	)		3.80
Exercised		(246,445	)		1.97

Outstanding, December 31, 2014		3,332,617		$	5.79		6.51	$	1,383

Exercisable, December 31, 2014		2,444,477		$	5.24		6.22	$	1,272

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, 2014:


	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)
$1.80 – 1.83		276,669		2.4	$	1.80		276,669	$	1.80
$2.08 – 2.88		761,667		6.7		2.26		669,917		2.26
$3.59 – 4.41		354,954		8.4		4.08		213,242		3.92
$5.00 – 7.56		1,568,382		6.2		6.94		1,083,746		6.93
$8.10 – 11.40		44,445		6.4		8.10		44,445		8.10
$13.38		326,500		9.1		13.38		156,458		13.38

		3,332,617		6.5	$	5.79		2,444,477	$	5.24

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2014

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)
	2014			2013			2012
Net loss	$	(15,788	)	$	(12,088	)	$	(9,675	)
Preferred stock dividends		(943	)		(867	)		(976	)
Preferred stock accretion		(229	)		(229	)		(230	)
Warrant modification		—			(8,763	)		—

Net loss applicable to common stockholders	$	(16,960	)	$	(21,947	)	$	(10,881	)

Basic and diluted net loss per share	$	(0.78	)	$	(1.30	)	$	(0.72	)
Shares used in computing basic and diluted net loss per share		21,849			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,
	2014 (Shares)		2013 (Shares)		2012 (Shares)
Warrants to purchase shares of common stock		5,470,995		6,035,229		7,424,241
Options to purchase shares of common stock		3,332,617		3,348,705		3,539,961
Shares of common stock issuable upon conversion preferred stock		2,527,103		2,568,771		2,627,110

		11,330,715		11,952,705		13,591,312

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Future Minimum Payments of Operating Lease

Future minimum payments under this lease as of December 31, 2014 are as follows (in thousands):


Year ended December 31,
2015	$	38
2016		40
2017		41

Total	$	119

- 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, 2014

Components of Net Deferred Tax Assets

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


	2014			2013
	(in thousands)
Operating loss carryforwards	$	30,578		$	25,881
Tax credit carryforwards		645			400
Other temporary differences		4,689			4,302

		35,912			30,583
Less valuation allowance		(35,912	)		(30,583	)

Net deferred tax asset	$	—		$	—

Primary Factors Affecting Income Tax Rates

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


	2014			2013			2012
Tax benefit at U.S. statutory rates		(34	%)		(34	%)		(34	%)
State tax benefit		(5.3	%)		(5.3	%)		(5.3	%)
Credit		0	%		0	%		(0.2	%)
Permanent differences		5.4	%		0.9	%		1.4	%
Expiring state NOL’s		1.4	%		1.8	%		3.3	%
Changes in valuation allowance		32.5	%		36.6	%		34.8	%

		0	%%		0	%		0	%

Quarterly financial data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Quarterly Financial Information

2014 Quarters ended

(In thousands except per share data)	December 31			September 30			June 30			March 31

Net loss	$	(3,731	)	$	(3,518	)	$	(3,429	)	$	(5,110	)
Net loss applicable to common stockholders		(3,968	)		(3,853	)		(3,731	)		(5,408	)
Basic and diluted net loss per share	$	(0.17	)	$	(0.17	)	$	(0.17	)	$	(0.27	)

	2013 Quarters ended

(In thousands except per share data)	December 31			September 30			June 30			March 31

Net loss	$	(2,799	)	$	(3,542	)	$	(2,544	)	$	(3,203	)
Net loss applicable to common stockholders		(3,111	)		(3,723	)		(11,641	)		(3,472	)
Basic and diluted net loss per share	$	(0.14	)	$	(0.22	)	$	(0.72	)	$	(0.22	)

Nature of Business and Basis of Presentation - Additional Information (Detail) (USD $)	12 Months Ended				2 Months Ended	12 Months Ended		2 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Feb. 28, 2014 At Market Agreement	Dec. 31, 2014 At Market Agreement	Dec. 31, 2013 At Market Agreement	Feb. 28, 2015 Subsequent Event At Market Agreement	Mar. 23, 2012 Reverse Split
Basis of Presentation [Line Items]
Reverse stock split ratio									1.6667
Unrestricted cash and cash equivalents	$ 29,128,000	$ 10,489,000	$ 9,364,000	$ 6,397,000
Net proceeds from issuance of common stock	$ 29,337,000	$ 3,833,000	$ 10,403,000		$ 28,178,000	$ 1,159,000	$ 833,000	$ 4,127,000

- 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, 2014	Dec. 31, 2013
Significant Accounting Policies [Line Items]
Cash equivalents	$ 0	$ 0
Security deposit for leased office space	6,000	6,000
Estimated useful lives of intangible assets	5 years
Amortization expense of intangible assets	8,000	7,000
Gross intangible assets	78,000	78,000
Accumulated amortization of intangible assets	$ 63,000	$ 55,000
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

Property and Equipment (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 74	$ 74
Less accumulated depreciation and amortization	(73)	(71)
Property and equipment-net	1	3
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, 2014	Dec. 31, 2013	Feb. 28, 2009
Schedule of Accrued Liabilities [Line Items]
Legal and accounting fees	$ 118	$ 103
Accrued compensation	604	526
Severance agreement (Note 11)		1,000	1,000
Other	7	22
Total	$ 729	$ 1,651

- 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' Equity - Additional Information (Detail) (USD $)	0 Months Ended					12 Months Ended											12 Months Ended	1 Months Ended	12 Months Ended			0 Months Ended	12 Months Ended		12 Months Ended			2 Months Ended	12 Months Ended				2 Months Ended		12 Months Ended	16 Months Ended	12 Months Ended			16 Months Ended		12 Months Ended								0 Months Ended	1 Months Ended				12 Months Ended			12 Months Ended						0 Months Ended	12 Months Ended					0 Months Ended		0 Months Ended				12 Months Ended		0 Months Ended		12 Months Ended			0 Months Ended
	Aug. 16, 2013	Dec. 30, 2010	Feb. 12, 2009	May 21, 2008	Feb. 04, 2008	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 30, 2010	Feb. 04, 2008	Dec. 31, 2011 Minimum	Dec. 31, 2011 Maximum	Dec. 31, 2011 Series B Directors Person	Dec. 31, 2011 Series B Nominees Person	Dec. 31, 2011 Series B Nominees Maximum Person	Dec. 31, 2011 Series A One Warrant	Jan. 31, 2014 Series A Two Warrant	Dec. 31, 2013 Series A Two Warrant	Dec. 31, 2011 Series A Two Warrant	Dec. 31, 2011 Series A and B Warrants	Feb. 04, 2008 Warrant	Dec. 31, 2011 Warrant	Oct. 31, 2014 Warrant	Dec. 31, 2014 Common Stock	Dec. 31, 2013 Common Stock	Dec. 31, 2012 Common Stock	Feb. 28, 2014 At Market Agreement	Dec. 31, 2014 At Market Agreement	Dec. 31, 2013 At Market Agreement	Mar. 30, 2014 At Market Agreement	Oct. 25, 2013 At Market Agreement	Feb. 28, 2015 At Market Agreement Subsequent Event	Dec. 31, 2014 Series A Redeemable Convertible Preferred Stock	Dec. 31, 2014 Series B-1 12% redeemable convertible preferred stock	May 31, 2010 Series B-1 12% redeemable convertible preferred stock	Dec. 31, 2014 Series B-1 12% redeemable convertible preferred stock Additional Paid-In Capital	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, 2014 Series B-2 12% Redeemable Convertible Preferred Stock	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	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. 30, 2010 Series C Super Dividend Convertible Preferred Stock	Dec. 31, 2014 Series C Super Dividend Convertible Preferred Stock	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. 31, 2014 Series C Super Dividend Convertible Preferred Stock	Dec. 31, 2011 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, 2014 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 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	Jun. 26, 2011 Series B redeemable convertible preferred stock	Feb. 12, 2009 Series B redeemable convertible preferred stock	Dec. 31, 2014 Series B redeemable convertible preferred stock	Dec. 31, 2011 Series B redeemable convertible preferred stock	Feb. 12, 2009 Series B redeemable convertible preferred stock	Jun. 26, 2011 Series B redeemable convertible preferred stock Minimum
Class of Stock [Line Items]
Common stock, shares authorized						50,000,000	50,000,000
Undesignated stock, shares authorized						20,000,000	20,000,000
Undesignated stock, designated						8,001,000	8,001,000																											5,000,000	900,000						2,100,000										1,000				1,000
Undesignated stock, undesignated						11,999,000
Shares of common stock issued	500,000																								2,881,269	599,942		2,663,647	217,622	99,942			1,173,458			900,000				2,100,000										212				13
Proceeds from sale of common stock	$ 3,000,000
Warrants issued	0	500																																		1,800,000				4,200,000
Stock issuance costs	0																					3,000																												47,000														52,000
Aggregate offering price																															30,000,000	30,000,000
Commission to sales agent as a percentage of gross proceeds																															3.00%	3.00%
Price of common stock per share																													$ 5.49	$ 9.02
Gross proceeds from sale of common stock																													1,196,000	944,000
Initial legal and accounting costs																														82,000
Commissions																													36,000	29,000
Proceeds from issuance of common stock						29,337,000	3,833,000	10,403,000																				28,178,000	1,159,000	833,000			4,127,000
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
Proceeds from issuance of equity					1,400																																1,105,000			5,483,000						1,028,000	1,732,000	388,000	628,000															1,691,000
Exercise price of warrant										$ 7.20	$ 9.00										$ 3.00			$ 5.45
Fair value of warrants											984,000																								1,296,000			4,148,000	5,333,000
Fair value assumptions, risk free interest rate					2.51%																														1.79%							2.27%	1.98%	2.70%	2.70%
Fair value assumptions, volatility rate					95.00%																														118.00%							126.00%	124.00%	129.00%	127.00%
Fair market value of common stock per share						$ 3.47					$ 3.54	$ 9.00																																												$ 3.00
Change in fair value of warrant liabilities				100,000
Warrant liability credited to additional paid in capital				502,000			(8,763,000)
Conversion of Series A to common stock																									8,334	18,387	30,000																																						50,000	110,000	180,000
Preferred stock issuable																																																																															3,000,000
Preferred stock value																																																																															6,000,000
Common shares issuable upon conversion of preferred stock																																																								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																	3,000,000	1,500,000	1,500,000
Number of warrants exercised						576,734	50,000											500,000		500,000
Fair value assumptions, term of warrants																																			5 years			5 years	5 years
Fair value assumptions, dividend rate																																			0.00%			0.00%	0.00%
Preferred stock shares designated for issuance						5,000,000	5,000,000																																																		1,000
Preferred stock, par value																																																									$ 0.01
Preferred stock, stated value																																																									$ 10,000
Proceeds from issuance of preferred stock																																																		2,120,000				130,000
Proceeds from issuance of preferred stock, net																																																		2,073,000
Convertible preferred shares																																																			20	24	5		176
Common stocks issued upon conversion of Preferred Stock																																																			33,756	40,193	8,334		293,340
Dividend as percentage of net sales																																																														2.50%	1.25%
Convertible preferred stock dividend																																																											100,000
Post conversion dividend rights issued																																																			20	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										$ 4,835,000				$ 4,835,000

Return on Investment (Detail)	12 Months Ended
Return on Investment (Detail)	Dec. 31, 2014	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, 2014	Dec. 31, 2013
Shares
Beginning Balance	6,035,229	7,424,241
Issued	20,000	5,000
Cancelled	(7,500)	(1,344,012)
Exercised	(576,734)	(50,000)
Ending Balance	5,470,995	6,035,229

Summary of Information with Regard to Outstanding Warrants Issued in Connection with Equity and Debt Financing and Consultants (Detail) (USD $)					12 Months Ended
	Dec. 31, 2014	Jun. 30, 2013	Dec. 30, 2010	Feb. 04, 2008	Dec. 31, 2014 February 12, 2009 Series B-1 Transaction	Dec. 31, 2014 May 13, 2009 Series B-2 Transaction	Dec. 31, 2014 June 30, 2009 Series B-2 Transaction	Dec. 31, 2014 August 12, 2009 Series B-2 Transaction	Dec. 31, 2014 September 30, 2009 Series B-2 Transaction	Dec. 31, 2014 November 4, 2009 Series B-2 Transaction	Dec. 31, 2014 December 8, 2009 Series B-2 Transaction	Dec. 31, 2014 January 29, 2010 Series B-2 Transaction	Dec. 31, 2014 March 8, 2010 Series B-2 Transaction	Dec. 31, 2014 April 30, 2010 Series B-2 Transaction	Dec. 31, 2014 May 10, 2010 Series B-2 Transaction	Dec. 31, 2014 June 15, 2010 Consultant Warrants	Dec. 31, 2014 December 9, 2010 Consultant Warrants	Dec. 31, 2014 December 30, 2010 Placement Agent Warrants	Dec. 31, 2014 October 30, 2014 Consultant Warrants	Dec. 31, 2014 March 28, 2012 Offering Warrants
Equity [Line Items]
Number Issued	5,470,995	5,000,000			1,200,000	600,000	333,333	200,000	216,666	206,666	216,667	216,667	223,334	206,667	380,000	100,000	33,334	500	20,000	1,317,161
Exercise Price			$ 7.20	$ 9.00	$ 3.00	$ 3.00	$ 3.00	$ 3.00	$ 3.00	$ 3.00	$ 3.00	$ 3.00	$ 3.00	$ 3.00	$ 3.00	$ 4.26	$ 3.90	$ 7.20	$ 5.45	$ 5.63
Exercisable Date					Feb. 12, 2009	May 13, 2009	Jun. 30, 2009	Aug. 12, 2009	Sep. 30, 2009	Nov. 04, 2009	Dec. 08, 2009	Jan. 29, 2010	Mar. 08, 2010	Apr. 30, 2010	May 10, 2010	Jun. 15, 2010	Dec. 09, 2010	Dec. 30, 2010	Oct. 30, 2014	Mar. 28, 2012
Expiration Date					Feb. 12, 2019	May 13, 2019	Jun. 30, 2019	Aug. 12, 2019	Sep. 30, 2019	Nov. 04, 2019	Dec. 08, 2019	Jan. 29, 2020	Mar. 08, 2020	Apr. 30, 2020	May 10, 2020	Jun. 15, 2015	Dec. 09, 2015	Dec. 30, 2015	Oct. 30, 2017	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, 2014
February 12, 2009 Series B-1 Transaction
Equity [Line Items]
Warrant issuance date	Feb. 12, 2009
Warrant issued price per share	$ 0.5
May 13, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	May 13, 2009
Warrant issued price per share	$ 0.5
June 30, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Jun. 30, 2009
Warrant issued price per share	$ 0.5
August 12, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Aug. 12, 2009
Warrant issued price per share	$ 0.5
September 30, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Sep. 30, 2009
Warrant issued price per share	$ 0.5
November 4, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Nov. 04, 2009
Warrant issued price per share	$ 0.5
December 8, 2009 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Dec. 08, 2009
Warrant issued price per share	$ 0.5
January 29, 2010 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Jan. 29, 2010
Warrant issued price per share	$ 0.5
March 8, 2010 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Mar. 08, 2010
Warrant issued price per share	$ 0.5
April 30, 2010 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	Apr. 30, 2010
Warrant issued price per share	$ 0.5
May 10, 2010 Series B-2 Transaction
Equity [Line Items]
Warrant issuance date	May 10, 2010
Warrant issued price per share	$ 0.5
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
October 30, 2014 Consultant Warrants
Equity [Line Items]
Warrant issuance date	Oct. 30, 2014

Warrants and Warrant Liabilities - Additional Information (Detail) (USD $)	0 Months Ended		3 Months Ended	12 Months Ended					0 Months Ended		0 Months Ended		3 Months Ended		12 Months Ended	3 Months Ended		12 Months Ended	3 Months Ended		1 Months Ended	0 Months Ended
	Aug. 16, 2013	Feb. 04, 2008	Jun. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 30, 2010	Feb. 04, 2008	May 06, 2013 Class B Warrants	May 06, 2013 Class B Warrants	May 06, 2013 Class A-2 Warrants	May 06, 2013 Class A-2 Warrants	Jun. 30, 2013 Before Modification	Jun. 30, 2013 After Modification	Dec. 31, 2014 Minimum	Jun. 30, 2013 Minimum Before Modification	Jun. 30, 2013 Minimum After Modification	Dec. 31, 2014 Maximum	Jun. 30, 2013 Maximum Before Modification	Jun. 30, 2013 Maximum After Modification	Oct. 31, 2014 Warrant	Mar. 28, 2012 Warrant Fourteen	Dec. 31, 2014 Warrant Fourteen	Mar. 28, 2012 Warrant Fourteen
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants to purchase shares of common stock																					20,000
Exercise price of warrant							$ 7.20	$ 9.00													$ 5.45
Value of warrants																					$ 76,000
Expected life				6 years	5 years 3 months 15 days	5 years 9 months 22 days									5 years	9 months 7 days	5 years 9 months 11 days	10 years	2 years 4 days	7 years 7 days	3 years
Expected volatility of the underlying stock				114.00%	115.00%	116.00%															117.00%
Risk-free interest rate				1.58%	1.17%	0.90%															0.91%
Expected dividend rate				0.00%	0.00%	0.00%															0.00%
Stock-based compensation expense				4,070,000	3,789,000	2,792,000															76,000
Units issued																						1,333,361
Shares of common stock issued	500,000																					2,666,722
Warrants to purchase shares of common stock issued																						1,333,361
Warrant issued price per share																						$ 5.63
Gross proceeds from issuance of warrants																						12,000,000
Net cash proceeds from issuance of warrants		1,400																				10,403,000
Value of warrants																						4,445,000
Fair value assumptions, warrants exercise price																								$ 4.20
Fair value assumptions, term of warrants																						5 years
Fair value assumptions, volatility rate		95.00%																				119.00%
Fair value assumptions, risk free interest rate		2.51%																				1.05%
Outstanding Warrants			5,000,000	5,470,995						4,000,000		1,000,000											1,317,161
Warrants exercisable life extended period									5 years		5 years
Expense related to extension of warrants			8,763,000
Volatility rate,minimum													77.00%	113.00%
Volatility rate,maximum													96.00%	122.00%
Risk free interest,minimum													0.11%	0.74%
Risk free interest,maximum													0.22%	1.19%
Expected dividend payment													$ 0	$ 0

Stock-Based Compensation - Additional Information (Detail) (USD $)	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					12 Months Ended
	Feb. 28, 2009	Dec. 31, 2014 CompensationPlan	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Feb. 04, 2008	Jun. 30, 2013 Consultant	Dec. 31, 2014 Minimum	Dec. 31, 2011 Minimum	Jun. 30, 2013 Minimum Consultant	Dec. 31, 2014 Maximum	Jun. 30, 2013 Maximum Consultant	Dec. 31, 2014 Stock Options	Dec. 31, 2013 Stock Options	Dec. 31, 2012 Stock Options	Sep. 30, 2013 Stock Options	Dec. 31, 2014 Stock Options Cashless	Dec. 31, 2013 Stock Options Cashless	Dec. 31, 2012 Stock Options Cashless	Sep. 30, 2013 Stock Options Amendment	Oct. 31, 2001 Stock Incentive Plan Twenty Zero One	Dec. 31, 2014 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, 2014 Non Employee Director Stock Options Plan, Twenty Zero Three	Dec. 31, 2003 Non Employee Director Stock Options Plan, Twenty Zero Three	Dec. 31, 2014 Incentive Compensation Plan 2009	May 31, 2014 Incentive Compensation Plan 2009	Feb. 28, 2009 Incentive Compensation Plan 2009	Dec. 31, 2014 Non Qualified Options Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share based compensation plans		3
Number of common stock for issuance upon exercise of grants																103,158					833,334					166,667		4,733,334	3,333,334
Stock awards, vesting period																					3 years
Stock options expiration period																							3 years	10 years
Non-plan grants outstanding		3,332,617	3,348,705	3,539,961	3,091,474																	166,167			0					1,416,669
Stock awards, grant period																						10 years			10 years
Stock awards, available for future grant																						0			0		1,851,114
Non-plan stock option grants to employees and non-employees																														1,477,379
Expected life		6 years	5 years 3 months 15 days	5 years 9 months 22 days				5 years			10 years
Expected dividend yield used in the option valuation model		0.00%	0.00%	0.00%
Common stock price		$ 3.47				$ 3.54			$ 9.00
Weighted-average grant-date fair values of options granted		$ 10.75	$ 3.17	$ 1.77
Unvested option		888,140	1,256,735
Unrecognized compensation cost		$ 4,308,000
Unrecognized compensation cost, recognition period		1 year 7 months 10 days
Number of stock options exercised		246,445	213,008	51,830									246,445	213,008	51,830		35,734	173,669	90,253
Stock options exercised		452,000	271,000										411,000	378,000
Proceeds from exercise of stock options													394,000	271,000	0
Number of shares issued in the conversion of options in a noncash transaction													26,109	81,591	51,830
Intrinsic value of options exercised													2,677,000	1,498,000	162,000
Options vested	83,334	676,335	614,041	595,420
Total fair value of options vested		3,711,000	2,406,000	2,447,000
Stock options expiration period																				3 months
Non-cash charge related to modification																				930,000
Stock option issued							25,000
Stock option vested date							2013-08
Exercise price of stock options		$ 12.72	$ 3.89	$ 2.13			$ 3.97
Common stock price per share										$ 3.97		$ 7.25
Stock-based compensation expense		$ 4,070,000	$ 3,789,000	$ 2,792,000			$ 173,000

Stock-Based Compensation Expense Related to Common Stock Options, Restricted Common Stock and Common Stock Warrants (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 4,070,000	$ 3,789,000	$ 2,792,000
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,302,000	991,000	922,000
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 2,768,000	$ 2,798,000	$ 1,870,000

Weighted Average Assumptions Used to Determine Fair Value of Options Granted (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.58%	1.17%	0.90%
Expected life of the options	6 years	5 years 3 months 15 days	5 years 9 months 22 days
Expected volatility of the underlying stock	114.00%	115.00%	116.00%
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, 2014	Dec. 31, 2013	Dec. 31, 2012
Shares
Beginning Balance	3,348,705	3,539,961	3,091,474
Granted	354,823	425,426	800,000
Forfeited/Cancelled	(124,466)	(403,674)	(299,683)
Exercised	(246,445)	(213,008)	(51,830)
Ending Balance	3,332,617	3,348,705	3,539,961
Exercisable, December 31, 2014	2,444,477
Weighted Average Exercise Price
Beginning Balance	$ 4.70	$ 5.66	$ 6.83
Granted	$ 12.72	$ 3.89	$ 2.13
Forfeited/Cancelled	$ 3.80	$ 14.19	$ 8.93
Exercised	$ 1.97	$ 2.18	$ 2.31
Ending Balance	$ 5.79	$ 4.70	$ 5.66
Exercisable, December 31, 2014	$ 5.24
Weighted Average Remaining Contractual Life (Years)
Outstanding, December 31, 2014	6 years 6 months 4 days
Exercisable, December 31, 2014	6 years 2 months 19 days
Stock Options Aggregate Intrinsic Value
Outstanding, December 31, 2014	$ 1,383
Exercisable, December 31, 2014	$ 1,272

Summary of Additional Information Regarding Outstanding and Exercisable Options under Stock Based Compensation Plans (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Number of Shares	3,332,617
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 6 months 4 days
Options Outstanding, Weighted Average Exercise Price	$ 5.79
Options Exercisable, Number of Shares	2,444,477
Options Exercisable, Weighted Average Exercise Price	$ 5.24
$1.80-$1.83
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Exercise Price	$ 1.80
Maximum Exercise Price	$ 1.83
Options Outstanding, Number of Shares	276,669
Options Outstanding, Weighted Average Remaining Contractual Life	2 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price	$ 1.80
Options Exercisable, Number of Shares	276,669
Options Exercisable, Weighted Average Exercise Price	$ 1.80
$2.08-$2.88
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Exercise Price	$ 2.08
Maximum Exercise Price	$ 2.88
Options Outstanding, Number of Shares	761,667
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 8 months 12 days
Options Outstanding, Weighted Average Exercise Price	$ 2.26
Options Exercisable, Number of Shares	669,917
Options Exercisable, Weighted Average Exercise Price	$ 2.26
$3.59-$4.41
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Exercise Price	$ 3.59
Maximum Exercise Price	$ 4.41
Options Outstanding, Number of Shares	354,954
Options Outstanding, Weighted Average Remaining Contractual Life	8 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price	$ 4.08
Options Exercisable, Number of Shares	213,242
Options Exercisable, Weighted Average Exercise Price	$ 3.92
$5.00-$7.56
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Exercise Price	$ 5.00
Maximum Exercise Price	$ 7.56
Options Outstanding, Number of Shares	1,568,382
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 2 months 12 days
Options Outstanding, Weighted Average Exercise Price	$ 6.94
Options Exercisable, Number of Shares	1,083,746
Options Exercisable, Weighted Average Exercise Price	$ 6.93
$8.10-$11.40
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Exercise Price	$ 8.10
Maximum Exercise Price	$ 11.40
Options Outstanding, Number of Shares	44,445
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price	$ 8.10
Options Exercisable, Number of Shares	44,445
Options Exercisable, Weighted Average Exercise Price	$ 8.10
$13.38
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Exercise Price	$ 13.38
Options Outstanding, Number of Shares	326,500
Options Outstanding, Weighted Average Remaining Contractual Life	9 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price	$ 13.38
Options Exercisable, Number of Shares	156,458
Options Exercisable, Weighted Average Exercise Price	$ 13.38

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
	May 21, 2008	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net loss		$ (3,731)	$ (3,518)	$ (3,429)	$ (5,110)	$ (2,799)	$ (3,542)	$ (2,544)	$ (3,203)	$ (15,788)	$ (12,088)	$ (9,675)
Preferred stock dividends										(943)	(867)	(976)
Preferred stock accretion										(229)	(229)	(230)
Warrant modification	502										(8,763)
Net loss applicable to common stockholders		$ (3,968)	$ (3,853)	$ (3,731)	$ (5,408)	$ (3,111)	$ (3,723)	$ (11,641)	$ (3,472)	$ (16,960)	$ (21,947)	$ (10,881)
Basic and diluted net loss per share		$ (0.17)	$ (0.17)	$ (0.17)	$ (0.27)	$ (0.14)	$ (0.22)	$ (0.72)	$ (0.22)	$ (0.78)	$ (1.30)	$ (0.72)
Shares used in computing basic and diluted net loss per share										21,849	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+ 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, 2014	Dec. 31, 2013	Dec. 31, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	11,330,715	11,952,705	13,591,312
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	5,470,995	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	3,332,617	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	2,527,103	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
	Aug. 06, 2014 LegalMatter	Mar. 29, 2013	Oct. 12, 2012	Jul. 31, 2014	Oct. 31, 2012	Feb. 28, 2009	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Aug. 01, 2013	Jun. 30, 2014 Norcross	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, 2017	Nov. 30, 2014
Base rent											$ 3,300	$ 3,000
Operating lease agreements, Security Deposit												6,000
Operating lease agreements, rent					15,000
Rent expense under operating leases							44,000	39,000
Severance payment due to Dr. Platt						1,000,000		1,000,000
Cashless stock option exercisable period							6 years 2 months 19 days						10 years
Number of options vested						83,334	676,335	614,041	595,420
Equity investment													10,000,000
Royalty revenue						50,000,000
Cashless stock option exercisable							2,444,477						50,000
Market capitalization						100,000,000				100,000,000
Severance payment period						6 months
Lawsuit payment			1,000,000
Milestone payments		1,000,000
Expected future payment										1,000,000
Payment of severance obligation				$ 1,000,000
Number of putative class action complaints filed	3

Future Minimum Payments of Operating Lease (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Operating Leased Assets [Line Items]
2015	$ 38
2016	40
2017	41
Total	$ 119

Galectin Science LLC - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2014	Dec. 31, 2014	Dec. 31, 2014
Investments in and Advances to Affiliates [Line Items]
Equity method investment in Galectin Sciences LLC			$ 400,000
Loss from equity method investment in Galectin Sciences, LLC			(400,000)
Galectin Sciences, LLC
Investments in and Advances to Affiliates [Line Items]
Equity method investment in Galectin Sciences LLC	400,000
Subsequent capital contribution		73,000
Equity Method Investment, Ownership Percentage	50.00%
Ownership Percentage	54.20%
Loss from equity method investment in Galectin Sciences, LLC			(400,000)
Non-cash charge for in-process research and development			200,000
Galectin Sciences, LLC \| SBH Sciences, Inc \| In Process Research and Development
Investments in and Advances to Affiliates [Line Items]
Estimated fair value of the IPR&D Contributed by SBH	$ 400,000

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

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Components of Net Deferred Tax Assets (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Components Of Deferred Tax Assets And Liabilities [Line Items]
Operating loss carryforwards	$ 30,578	$ 25,881
Tax credit carryforwards	645	400
Other temporary differences	4,689	4,302
Deferred Tax Assets, Gross, Total	35,912	30,583
Less valuation allowance	(35,912)	(30,583)
Net deferred tax asset	$ 0	$ 0

Primary Factors Affecting Income Tax Rates (Detail)	12 Months Ended
Primary Factors Affecting Income Tax Rates (Detail)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Statutory Tax Rate [Line Items]
Tax benefit at U.S. statutory rates	(34.00%)	(34.00%)	(34.00%)
State tax benefit	(5.30%)	(5.30%)	(5.30%)
Credit	0.00%	0.00%	(0.20%)
Permanent differences	5.40%	0.90%	1.40%
Expiring state NOL's	1.40%	1.80%	3.30%
Changes in valuation allowance	32.50%	36.60%	34.80%
Effective Income Tax Rate Reconciliation, Percent, Total	0.00%	0.00%	0.00%

Income Taxes - Additional Information (Detail) (USD $)	12 Months Ended
Income Taxes - Additional Information (Detail) (USD $)	Dec. 31, 2014
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	82,150,000
Operating loss carryforwards, expiration year	2033
Research and development credits	468,000
Research and development credits, expiration year	2033
State and Local Jurisdiction
Income Taxes [Line Items]
Net operating loss carryforwards	42,394,000
Operating loss carryforwards, expiration year	2033
Research and development credits	$ 176,000
Research and development credits, expiration year	2033

Quarterly Financial Data (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Quarterly Financial Data [Line Items]
Net loss	$ (3,731)	$ (3,518)	$ (3,429)	$ (5,110)	$ (2,799)	$ (3,542)	$ (2,544)	$ (3,203)	$ (15,788)	$ (12,088)	$ (9,675)
Net loss applicable to common stockholders	$ (3,968)	$ (3,853)	$ (3,731)	$ (5,408)	$ (3,111)	$ (3,723)	$ (11,641)	$ (3,472)	$ (16,960)	$ (21,947)	$ (10,881)
Basic and diluted net loss per share	$ (0.17)	$ (0.17)	$ (0.17)	$ (0.27)	$ (0.14)	$ (0.22)	$ (0.72)	$ (0.22)	$ (0.78)	$ (1.30)	$ (0.72)

- Definition

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

+ References+ Details

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