Document and Entity Information (USD $)
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3 Months Ended | ||
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Mar. 31, 2013
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May 01, 2013
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Sep. 28, 2012
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Document and Entity Information [Abstract] | |||
Entity Registrant Name | ORGANOVO HOLDINGS, INC. | ||
Entity Central Index Key | 0001497253 | ||
Document Type | 10-KT | ||
Document Period End Date | Mar. 31, 2013 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2013 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --03-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Public Float | $ 50,421,992 | ||
Entity Common Stock, Shares Outstanding | 64,686,919 |
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If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Details
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid within one year (or one operating cycle, if longer) of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of the portion of long-term debt due within one year or the operating cycle if longer identified as Convertible Notes Payable. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net amount of current deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cumulative net losses reported during the development stage. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of amounts due under the terms of governmental, corporate, or foundation grants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash and investments whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. For use in an unclassified balance sheet. No definition available.
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parenthetical) (USD $)
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Mar. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2011
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Consolidated Balance Sheets [Abstract] | |||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 | 150,000,000 |
Common stock, shares issued | 64,686,919 | 58,535,411 | 22,445,254 |
Common stock, shares outstanding | 64,686,919 | 58,535,411 | 22,445,254 |
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | 71 Months Ended | |||
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Mar. 31, 2013
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Mar. 31, 2012
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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Mar. 31, 2013
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Revenue | ||||||
Product | $ 224 | $ 224 | ||||
Collaborations | 98 | 120 | 1,035 | 688 | 75 | 1,896 |
Grants | 117 | 162 | 57 | 528 | 943 | |
Total Revenue | 215 | 120 | 1,197 | 969 | 603 | 3,063 |
Cost of product revenue | 121 | 134 | ||||
Selling, general, and administrative expenses | 2,792 | 902 | 7,080 | 1,733 | 578 | 12,539 |
Research and development expenses | 1,448 | 547 | 3,436 | 1,420 | 1,203 | 8,082 |
Loss from Operations | (4,025) | (1,329) | (9,319) | (2,305) | (1,178) | (17,692) |
Other Income (Expense) | ||||||
Fair value of warrant liabilities in excess of proceeds received | (19,019) | (19,019) | (19,019) | |||
Change in fair value of warrant liabilities | (12,034) | (13,506) | (9,931) | (7) | (21,972) | |
Financing transaction costs in excess of proceeds received | (2,130) | (2,130) | (2,130) | |||
Loss on inducement to exercise warrants | (1,904) | (1,904) | ||||
Loss on disposal of fixed assets | (158) | (158) | ||||
Interest expense | (65) | (1,088) | (1,088) | (2,067) | (161) | (3,471) |
Interest income | 4 | 5 | 11 | |||
Other expense | (9) | (9) | (4) | (30) | ||
Total Other Income (Expense) | (12,095) | (35,752) | (34,234) | (2,078) | (161) | (48,673) |
Net Loss | $ (16,120) | $ (37,081) | $ (43,553) | $ (4,383) | $ (1,339) | $ (66,365) |
Net loss per common share - basic and diluted | $ (0.26) | $ (1.17) | $ (1.01) | $ (0.19) | $ (0.09) | |
Weighted average number of shares used in computing net loss per share - basic and diluted | 61,750,157 | 31,591,663 | 43,149,657 | 22,925,694 | 14,620,140 |
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- Definition
Change in fair value of warrant liabilities. No definition available.
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- Definition
Fair value of warrant liabilities in excess of proceeds received. No definition available.
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- Definition
Financing transaction costs in excess of proceeds received. No definition available.
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- Definition
Loss on inducement to exercise. No definition available.
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- Definition
Revenue from collaborations. No definition available.
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
The gains (losses) included in earnings resulting from the sale or disposal of tangible assets. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The aggregate amount of other expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating expense recognized during the period. Such amounts may include: (a) unusual costs, (b) loss on foreign exchange transactions, (c) losses on securities (net of profits), and (d) miscellaneous other expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue earned during the period from non-repayable sum of money awarded to an entity to carry out a specific purpose as provided in grant agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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- Definition
Adjustments to additional paid in capital expense on modification of warrant. No definition available.
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X | ||||||||||
- Definition
Adjustments to additional paid in capital loss on inducement to exercise warrants. No definition available.
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- Definition
Adjustments To Additional Paid In Capital Warrant Liability From Exercises Of Warrants. No definition available.
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- Definition
Adjustments to additional paid in capital warrant liability reclassified to equity. No definition available.
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- Definition
Costs associated with merger. No definition available.
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- Definition
Issuance of common stock in connection with merger. No definition available.
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- Definition
Issuance of common stock in connection with merger shares. No definition available.
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- Definition
Issuance of common stock through conversion of notes payable and accrued interest in connection with merger. No definition available.
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- Definition
Issuance of common stock through conversion of notes payable and accrued interest in connection with merger shares. No definition available.
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- Definition
Issuance of common stock through private placements in connection with reverse merger. No definition available.
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- Definition
Issuance of common stock through private placements in connection with reverse merger shares. No definition available.
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- Definition
Stockholders equity during period issuance of common stock from warrant exercises. No definition available.
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- Definition
Stockholders equity during period value issuance of common stock from warrant exercises. No definition available.
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- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Increase in additional paid in capital due to warrants issued during the period. Includes also the proceeds of debt securities issued with detachable stock purchase warrants that are allocable to the warrants. These warrants qualify for equity classification and provide the holder with a right to purchase stock from the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares issued and outstanding as of the balance sheet date. No definition available.
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- Definition
Value of stock (or other type of equity) granted during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. This element is not the recognition of equity-based compensation expense in pursuant to FAS 123R. That element is AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue (Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Value). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares issued during the period as a result of the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross value of stock issued during the period upon the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Consolidated Statements of Cash Flows (USD $)
|
3 Months Ended | 12 Months Ended | 71 Months Ended | |||
---|---|---|---|---|---|---|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Mar. 31, 2013
|
|
Cash Flows From Operating Activities | ||||||
Net loss | $ (16,120,000) | $ (37,081,000) | $ (43,553,000) | $ (4,383,000) | $ (1,339,000) | $ (66,365,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Amortization of debt discount | 0 | 896,000 | 896,200 | 603,800 | 2,084,000 | |
Loss on disposal of fixed assets | 158,000 | 158,000 | ||||
Depreciation and amortization | 80,000 | 17,000 | 195,000 | 68,000 | 59,000 | 431,000 |
Amortization of deferred financing costs | 319,000 | 319,000 | 119,000 | 438,000 | ||
Amortization of warrants issued for services | 261,000 | 556,000 | 817,000 | |||
Interest accrued on convertible notes payable | 12,000 | 12,000 | 232,000 | 495,000 | ||
Warrants issued in connection with exchange agreement | 528,000 | 528,000 | ||||
Loss on inducement to exercise warrants | 1,904,000 | 1,904,000 | ||||
Expense associated with warrant modification | 65,000 | 65,000 | ||||
Stock-based compensation | 848,000 | 4,000 | 1,435,000 | 9,000 | 4,000 | 2,300,000 |
Fair value of warrant liabilities in excess of proceeds | 19,019,000 | 19,019,000 | 19,019,000 | |||
Change in fair value of warrant liabilities | 12,034,000 | 13,506,000 | 9,931,000 | 7,000 | 21,972,000 | |
Increase (decrease) in cash resulting from changes in: | ||||||
Grants receivable | 61,000 | (162,000) | 60,000 | (55,000) | (101,000) | |
Inventory | (45,000) | (459,000) | (224,000) | (68,000) | (751,000) | |
Prepaid expenses and other current assets | (61,000) | (65,000) | (101,000) | (69,000) | (2,000) | (255,000) |
Accounts payable | 216,000 | (217,000) | (233,000) | 373,000 | 230,000 | 641,000 |
Accrued expenses | (201,000) | (37,000) | 543,000 | 132,000 | 83,000 | 780,000 |
Deferred revenue | 62,000 | 116,000 | (153,000) | 46,000 | 107,000 | 62,000 |
Accrued interest | 161,000 | |||||
Net cash used in operating activities | (2,755,000) | (3,556,000) | (9,693,000) | (1,914,000) | (820,000) | (15,778,000) |
Cash Flows From Investing Activities | ||||||
Restricted cash deposits | (38,000) | (88,000) | (88,000) | |||
Purchases of fixed assets | (137,000) | (6,000) | (357,000) | (46,000) | (48,000) | (921,000) |
Purchases of intangible assets | (19,000) | (65,000) | (5,000) | (114,000) | ||
Net cash used in investing activities | (156,000) | (44,000) | (445,000) | (111,000) | (53,000) | (1,123,000) |
Cash Flows From Financing Activities | ||||||
Proceeds from issuance of convertible notes payable | 2,543,000 | 992,000 | 4,630,000 | |||
Proceeds from issuance of common stock and exercise of warrants, net | 3,724,000 | 13,723,000 | 24,714,000 | 28,438,000 | ||
Proceeds from exercise of stock options | 18,000 | 18,000 | ||||
Proceeds from issuance of related party notes payable | 225,000 | 25,000 | 250,000 | |||
Repayment of related party notes payable | (250,000) | (250,000) | ||||
Repayment of convertible notes and interest payable | (110,000) | (110,000) | (110,000) | |||
Principal payments on capital lease obligations | (2,000) | (7,000) | (9,000) | |||
Deferred financing costs | (438,000) | (438,000) | ||||
Net cash provided by financing activities | 3,722,000 | 13,613,000 | 24,615,000 | 2,080,000 | 1,017,000 | 32,529,000 |
Net Increase in Cash and Cash Equivalents | 811,000 | 10,013,000 | 14,477,000 | 55,000 | 144,000 | 15,628,000 |
Cash and Cash Equivalents at Beginning of Period | 14,817,000 | 340,000 | 340,000 | 285,000 | 141,000 | |
Cash and Cash Equivalents at End of Period | 15,628,000 | 10,353,000 | 14,817,000 | 340,000 | 285,000 | 15,628,000 |
Supplemental Disclosures of Cash Flow Information: | ||||||
Interest | 10,000 | 10,000 | 10,000 | |||
Income Taxes | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 3,000 |
X | ||||||||||
- Definition
Fair value of warrant liabilities in excess of proceeds received. No definition available.
|
X | ||||||||||
- Definition
Increase decrease in accrued interest. No definition available.
|
X | ||||||||||
- Definition
Increase decrease in grants receivable. No definition available.
|
X | ||||||||||
- Definition
Interest accrued on convertible notes payable. No definition available.
|
X | ||||||||||
- Definition
Loss on inducement to exercise. No definition available.
|
X | ||||||||||
- Definition
Payment for expense on warrant modification. No definition available.
|
X | ||||||||||
- Definition
Proceeds from issuance of common stock and warrants. No definition available.
|
X | ||||||||||
- Definition
Repayment of convertible notes and interest payable. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of expense recognized in the current period that reflects the allocation of the costs of intangible assets over the expected benefit period of such assets. This element applies only to intangible assets used in the delivery of services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The gains (losses) included in earnings resulting from the sale or disposal of tangible assets. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The fair value of restricted stock or stock options granted to nonemployees as payment for services rendered or acknowledged claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt and payment of capital lease obligations. No definition available.
|
X | ||||||||||
- Definition
The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Accrued interest on convertible notes. No definition available.
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X | ||||||||||
- Definition
Convertible notes principal amount. No definition available.
|
X | ||||||||||
- Definition
Deduction in warrant liability. No definition available.
|
X | ||||||||||
- Definition
Issuance of common stock to note holders, shares. No definition available.
|
X | ||||||||||
- Definition
Issuance of restricted common stock to employees and non employees, shares. No definition available.
|
X | ||||||||||
- Definition
Issued warrants to purchase share of common stock for consulting services shares. No definition available.
|
X | ||||||||||
- Definition
Issued warrants to purchase shares of common stock for consulting services. No definition available.
|
X | ||||||||||
- Definition
Purchased equipment through capital lease. No definition available.
|
X | ||||||||||
- Definition
Transferred amount of inventory to fixed assets. No definition available.
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X | ||||||||||
- Definition
Warrant issued in connection with convertible notes payable, value. No definition available.
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X | ||||||||||
- Definition
Warrant reclassified equity instruments. No definition available.
|
X | ||||||||||
- Definition
Warrants and related beneficial conversion feature, value. No definition available.
|
X | ||||||||||
- Definition
The cash inflow from issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
Change in Fiscal Year End
|
3 Months Ended |
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Mar. 31, 2013
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|
Change in Fiscal Year End [Abstract] | |
Change in Fiscal Year End |
1. Change in Fiscal Year End On March 31, 2013, the Board of Directors of the Company (the “Board”) approved a change in the Company’s fiscal year end from December 31 to March 31. As a result of this change, the Company is filing a Transition Report on Form 10-K for the three-month transition period ended March 31, 2013. References to any of the Company’s fiscal years mean the fiscal year ending December 31 of that calendar year. |
X | ||||||||||
- Definition
Fiscal year. No definition available.
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X | ||||||||||
- Details
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Description of Business and Summary of Significant Accounting Policies
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Description of Business and Summary of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of Business and Summary of Significant Accounting Policies |
2. Description of Business and Summary of Significant Accounting Policies A summary of significant accounting policies, consistently applied in the preparation of the accompanying consolidated financial statements follows: Nature of operations and basis of presentation Organovo Holdings, Inc., (the “Company”), through its wholly-owned subsidiary, Organovo, Inc., a Delaware corporation, has devoted substantially all of its resources to product development, raising capital, and building infrastructure. The Company is developing and commercializing functional human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. All of the Company’s potential products are in research and development phases and as of March 31, 2013 the Company has not generated revenue from its planned principal operations. The Company does earn revenue from research and development agreements with collaborators and grants from governmental entities. Accordingly, the Company is considered to be in the development stage. Reverse merger transaction On February 8, 2012, Organovo, Inc., a privately held Delaware corporation, merged with and into Organovo Acquisition Corp., a wholly-owned subsidiary of Organovo Holdings, Inc., a publicly traded Delaware corporation, with Organovo, Inc. surviving the merger as a wholly-owned subsidiary of the Company (the “Merger”). As a result of the Merger, the Company acquired the business of Organovo, Inc., and will continue the existing business operations of Organovo, Inc. Simultaneously with the Merger, on February 8, 2012 (the “closing date”), all of the issued and outstanding shares of Organovo, Inc.’s common stock converted, on a 1 for 1 basis, into shares of the Company’s common stock, par value $0.001 per share. Also, on the closing date, all of the issued and outstanding options to purchase shares of Organovo, Inc.’s common stock and other outstanding warrants to purchase Organovo, Inc.’s common stock, and all of the issued and outstanding bridge warrants to purchase shares of Organovo, Inc.’s common stock, converted on a 1 for 1 basis, into options, warrants and new bridge warrants to purchase shares of the Company’s common stock. Immediately following the consummation of the Merger: (i) the former security holders of Organovo, Inc. common stock had an approximate 75% voting interest in the Company and the Company stockholders retained an approximate 25% voting interest, (ii) former executive management team of Organovo, Inc. remained as the only continuing executive management team for the Company, and (iii) the Company’s ongoing operations consist solely of the ongoing operations of Organovo, Inc. Based primarily on these factors, the Merger was accounted for as a reverse merger and a recapitalization in accordance with accounting principles generally accepted in the United States (“GAAP”). As a result, these financial statements reflect the historical results of Organovo, Inc. prior to the Merger, and the combined results of the Company following the Merger. The par value of Organovo, Inc. common stock immediately prior to the Merger was $0.0001 per share. The par value subsequent to the Merger is $0.001 per share, and therefore the historical results of Organovo, Inc. prior to the Merger have been retroactively adjusted to affect the change in par value. In connection with three separate closings of a private placement transaction completed in connection with the Merger (the “Private Placement”), the Company received gross proceeds of approximately $5.0 million, $1.8 million and $6.9 million on closings on February 8, 2012, February 29, 2012 and March 16, 2012, respectively. In 2011, the Company received $1.5 million from the purchase of 6% convertible notes which were automatically converted into 1,500,000 shares of common stock, plus 25,387 shares for accrued interest of $25,387 on the principal, on February 8, 2012. The cash transaction costs related to the Merger were approximately $2.1 million. Before the Merger, Organovo Holdings’ Board of Directors and stockholders adopted the 2012 Equity Incentive Plan (the “2012 Plan”). The 2012 Plan provides for the issuance of 6,553,986 shares of the Company’s common stock to executive officers, directors, advisory board members and employees. In addition, Organovo Holdings assumed and adopted Organovo, Inc.’s 2008 Equity Incentive Plan, which provided for the issuance of 896,256 shares of common stock, for total shares available for issuance under these plans of 7,450,242. Liquidity As of March 31, 2013, the Company had an accumulated deficit of approximately $66.4 million. The Company also had negative cash flows from operations of approximately $2.8 million during the three months ended March 31, 2013. On February 8, 2012, the Company received gross proceeds of approximately $5.0 million from the initial closing of a private placement offering in conjunction with the Merger (the “Private Placement”). On February 29, 2012 and March 16, 2012, the Company completed two additional closings of its Private Placement receiving gross proceeds of approximately $1.8 million and $6.9 million respectively. In December 2012, the Company consummated a warrant tender offer to the holders of outstanding warrants to purchase approximately 14.5 million shares of the Company’s common stock. In accordance with the tender offer, for those warrant holders that elected to participate, this resulted in a reduction of the exercise price of the warrants from $1.00 per share to $0.80 per share of common stock in cash, shortened the exercise period of the warrants so that they expired concurrently with the tender offer, and removed the price-based anti-dilution provisions contained in the warrants. The Company completed the tender offer on December 21, 2012, resulting in approximately 9.6 million warrants being exercised for gross proceeds of approximately $7.7 million. In connection with the transaction, the Company recognized an expense for the inducement to exercise the warrants of approximately $1.9 million. The Company also incurred approximately $0.4 million in placement agent fees, legal costs, and other related fees, which have been recognized as an offset to the proceeds received from the warrant exercises. On February 5, 2013, the Company provided a Notice of Redemption to affected warrant holders, of approximately 2.4 million warrant shares, that they would have until March 14, 2013 to exercise their outstanding warrants at $1.00 per share. Thereafter, any warrants that remained unexercised would have been automatically redeemed by the Company at a redemption price of $0.0001 per share of common stock then issuable upon exercise of the redeemed warrant. As of March 14, 2013, all redeemable warrants had been exercised for net proceeds of approximately $2.3 million. During the three months ended March 31, 2013, the Company also received approximately $1.4 million of additional proceeds from the exercise of other warrants unrelated to the Redemption Notification.
Through March 31, 2013, the Company has financed its operations primarily through the sale of convertible notes, the private placement of equity securities, and through revenue derived from grants or collaborative research agreements. Based on its current operating plan and available cash resources, the Company has sufficient resources to fund its business for at least the next 12 months. The Company will need additional capital to further fund product development and commercialization of its human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. The Company intends to cover its future operating expenses through cash on hand, through additional financing from existing and prospective investors, and from revenue derived from grants and collaborative research agreements. However, we may not be successful in obtaining funding from new or existing collaborative research agreements. In addition, we cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to us or to our stockholders. Further, the NIH has notified all grant recipients that due to the current Congressional budget sequestration, the NIH may not be able to issue continuation awards, or it may be required to negotiate a reduction in the scope of existing awards to meet the constraints imposed. Additionally, plans for new grants or cooperative agreements may be re-scoped, delayed, or canceled depending on the nature of the work and the availability of resources. As a result, we cannot assure you that we will receive the funding under our existing NIH grants, and we may not be successful in securing additional grants from the NIH in the future. Having insufficient funds may require us to delay, scale back, or eliminate some or all of our development programs or relinquish rights to our technology on less favorable terms than we would otherwise choose. Failure to obtain adequate financing could eventually adversely affect our ability to operate as a going concern. If we raise additional funds from the issuance of equity securities, substantial dilution to our existing stockholders would likely result. If we raise additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict our ability to operate our business. Use of estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant estimates used in preparing the consolidated financial statements include those assumed in computing the valuation of warrants and conversion features, revenue recognized under the proportional performance model, the valuation of stock-based compensation expense, and the valuation allowance on deferred tax assets. Financial instruments For certain of the Company’s financial instruments, including cash and cash equivalents, grants receivable, inventory, prepaid expenses and other assets, accounts payable, accrued expenses, deferred revenue, capital lease obligations, and convertible notes payable, the carrying amounts are generally considered to be representative of their respective fair values because of the short-term nature of those instruments. Cash and cash equivalents The Company considers all highly liquid investments with original maturities of 90 days or less to be cash equivalents. Derivative financial instruments The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency.
The Company reviews the terms of convertible debt and equity instruments it issues to determine whether there are derivative instruments, including an embedded conversion option that is required to be bifurcated and accounted for separately as a derivative financial instrument. In circumstances where a host instrument contains more than one embedded derivative instrument, including a conversion option, that is required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. Also, in connection with the sale of convertible debt and equity instruments, the Company may issue freestanding warrants that may, depending on their terms, be accounted for as derivative instrument liabilities, rather than as equity. Derivative instruments are initially recorded at fair value and are then revalued at each reporting date with changes in the fair value reported as non-operating income or expense. When the convertible debt or equity instruments contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds allocated to the convertible host instruments are first allocated to the fair value of all the bifurcated derivative instruments. The remaining proceeds, if any, are then allocated to the convertible instruments themselves, usually resulting in those instruments being recorded at a discount from their face value. The discount from the face value of the convertible debt, together with the stated interest on the instrument, is amortized over the life of the instrument through periodic charges to interest expense, using the effective interest method. Restricted cash As of March 31, 2013 and December 31, 2012, the Company had approximately $88,300 of restricted cash deposited with a financial institution. $38,300 is held in certificates of deposit to support a letter of credit agreement related to the facility lease entered into during 2012. The additional $50,000 is held by the financial institution as a guarantee for the Company’s commercial credit cards. Grant receivable Grant receivable represents the amount due from the National Institutes of Health (“NIH”) under a research grant. The Company considers the grant receivable to be fully collectible; and accordingly, no allowance for doubtful amounts has been established. If amounts become uncollectible, they are charged to operations. Inventory Inventories are stated at the lower of the cost or market (first-in, first-out). Inventory at March 31, 2013 consisted of approximately $88,000 in raw materials. Inventory at December 31, 2012 consisted of approximately $196,000 in finished goods, $60,000 work-in-process and $104,000 in raw materials. Inventory at December 31, 2011 consisted of approximately $204,000 in finished goods, $24,000 in work-in-process and $64,000 in raw materials. The Company provides inventory allowances based on excess or obsolete inventories determined based on anticipated use in the final product. There was no obsolete inventory reserve as of March 31, 2013, December 31, 2012 or December 31, 2011. Deferred financing costs As of March 31, 2013 and December 31, 2012, there were no deferred financing costs. As of December 31, 2011, deferred financing costs consisted of approximately $140,000 associated with the Merger transaction and approximately $179,000 associated with convertible notes as part of the private placement offering that was initiated in the fourth quarter of 2011. The deferred financing costs related to the private placement offering were being amortized over the life of the convertible notes and were fully amortized to expense upon conversion of the convertible notes on February 8, 2012. The deferred financing costs associated with the Merger transaction were recorded as an offset to the proceeds received, with the amount in excess of the proceeds received expensed at the effective Merger date. Fixed assets and depreciation Property and equipment are carried at cost. Expenditures that extend the life of the asset are capitalized and depreciated. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the related assets or, in the case of leasehold improvements, over the lesser of the useful life of the related asset or the lease term. The estimated useful lives of the fixed assets range between two and five years. Impairment of long-lived assets In accordance with authoritative guidance the Company reviews its long-lived assets, including property and equipment and other assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. To determine recoverability of its long-lived assets, the Company evaluates whether future undiscounted net cash flows will be less than the carrying amount of the assets and adjusts the carrying amount of its assets to fair value. Management has determined that no impairment of long-lived assets occurred in the period from inception through March 31, 2013. Fair value measurement Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:
The Company has issued warrants, of which some are classified as derivative liabilities as a result of the terms in the warrants that provide for down-round protection in the event of a dilutive issuance. The Company uses Level 3 inputs for its valuation methodology for the warrant derivative liabilities. The estimated fair values were determined using a Monte Carlo option pricing model based on various assumptions (see Note 5). The Company’s derivative liabilities are adjusted to reflect estimated fair value at each period end, with any decrease or increase in the estimated fair value being recorded in other income or expense accordingly, as adjustments to the fair value of derivative liabilities. Various factors are considered in the pricing models we use to value the warrants, including the Company’s current stock price, the remaining life of the warrants, the volatility of the Company’s stock price, and the risk free interest rate. Future changes in these factors will have a significant impact on the computed fair value of the warrant liability. As such, we expect future changes in the fair value of the warrants to continue to vary significantly from quarter to quarter.
The estimated fair values of the liabilities measured on a recurring basis are as follows:
The following table presents the activity for liabilities measured at estimated fair value using unobservable inputs for 2011 and 2012 and the three months ended March 31, 2013: Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Research and development Research and development expenses, including direct and allocated expenses, consist of independent research and development costs, as well as costs associated with sponsored research and development. Research and development costs are expensed as incurred.
Income taxes Deferred income taxes are recognized for the tax consequences in future years for differences between the tax basis of assets and liabilities and their financial reporting amounts at each year end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the combination of the tax payable for the year and the change during the year in deferred tax assets and liabilities. Revenue recognition The Company’s revenues are derived from collaborative research agreements, NIH and U.S. Treasury Department Grants, the sale of bioprinter related products and services, and license agreements. The Company recognizes revenue when the following criteria have been met: (i) persuasive evidence of an arrangement exists; (ii) services have been rendered or product has been delivered; (iii) price to the customer is fixed and determinable; and (iv) collection of the underlying receivable is reasonably assured. Billings to customers or payments received from customers are included in deferred revenue on the balance sheet until all revenue recognition criteria are met. As of March 31, 2013, December 31, 2012 and December 31, 2011, the Company had approximately $62,000, $0 and $152,500, respectively, in deferred revenue related to its collaborative research programs. Product Revenue The Company recognizes product revenue at the time of shipment to the customer, provided all other revenue recognition criteria have been met. The Company recognizes product revenues upon shipment to distributors, provided that (i) the price is substantially fixed or determinable at the time of sale; (ii) the distributor’s obligation to pay the Company is not contingent upon resale of the products; (iii) title and risk of loss passes to the distributor at time of shipment; (iv) the distributor has economic substance apart from that provided by the Company; (v) the Company has no significant obligation to the distributor to bring about resale of the products; and (vi) future returns can be reasonably estimated. For any sales that do not meet all of the above criteria, revenue is deferred until all such criteria have been met. Research and Development Revenue Under Collaborative Agreements The Company’s collaboration revenue consists of license and collaboration agreements that contain multiple elements, including non-refundable upfront fees, payments for reimbursement of third-party research costs, payments for ongoing research, payments associated with achieving specific development milestones and royalties based on specified percentages of net product sales, if any. The Company considers a variety of factors in determining the appropriate method of revenue recognition under these arrangements, such as whether the elements are separable, whether there are determinable fair values and whether there is a unique earnings process associated with each element of a contract. The Company recognizes revenue from research funding under collaboration agreements when earned on a “proportional performance” basis as research hours are incurred. The Company performs services as specified in each respective agreement on a best-efforts basis, and is reimbursed based on labor hours incurred on each contract. The Company initially defers revenue for any amounts billed or payments received in advance of the services being performed and recognizes revenue pursuant to the related pattern of performance, based on total labor hours incurred relative to total labor hours estimated under the contract. In December 2010, the Company entered into a 12 month research contract agreement with a third party, whereby the Company was engaged to perform research and development services on a fixed-fee basis for approximately $600,000. Based on the proportional performance criteria, the Company recognized approximately $150,000 and $450,000 in revenue related to the contract during the years ended December 31, 2012 and 2011, respectively. Total revenue recognized on the contract from inception through March 31, 2013 was approximately $600,000. In October 2011, the Company entered into a research contract agreement with a third party, whereby the Company is performing research and development services on a fixed-fee basis for $1,365,000. The agreement included an initial payment to the Company of approximately $239,000 with remaining payments expected to occur over a twenty-one month period. On November 27, 2012, the agreement was amended to include additional research and development services, for an additional $135,000, bringing the total contract value to $1,500,000. This extends the original contract (which runs concurrently) from twenty-one months to twenty-eight months. The Company recorded approximately $97,000, $885,000 and $239,000 for the three months ended March 31, 2013 and the years ended December 31, 2012 and 2011, respectively, in revenue related to the research contract in recognition of the proportional performance achieved. Total revenue recognized on the contract from inception through March 31, 2013 was approximately $1,221,000. Revenue Arrangements with Multiple Deliverables The Company occasionally enters into revenue arrangements that contain multiple deliverables. Judgment is required to properly identify the accounting units of the multiple deliverable transactions and to determine the manner in which revenue should be allocated among the accounting units. Moreover, judgment is used in interpreting the commercial terms and determining when all criteria of revenue recognition have been met for each deliverable in order for revenue recognition to occur in the appropriate accounting period. For multiple deliverable agreements, consideration is allocated at the inception of the agreement to all deliverables based on their relative selling price. The relative selling price for each deliverable is determined using VSOE of selling price or third-party evidence of selling price if VSOE does not exist. If neither VSOE nor third-party evidence of selling price exists, the Company uses its best estimate of the selling price for the deliverable. The Company recognizes revenue for delivered elements only when it determines there are no uncertainties regarding customer acceptance. While changes in the allocation of the arrangement consideration between the units of accounting will not affect the amount of total revenue recognized for a particular sales arrangement, any material changes in these allocations could impact the timing of revenue recognition, which could affect the Company’s results of operations. The Company expects to periodically receive license fees for non-exclusive research licensing associated with funded research projects. License fees under these arrangements are recognized over the term of the contract or development period as it has been determined that such licenses do not have stand-alone value. NIH and U.S. Treasury Grant Revenues During 2010, the U.S. Treasury awarded the Company two one-time grants totaling approximately $397,000 for investments in qualifying therapeutic discovery projects under section 48D of the Internal Revenue Code. The grants cover reimbursement for qualifying expenses incurred by the Company in 2010 and 2009. The proceeds from these grants are classified in “Revenues — Grants” for the year ended December 31, 2010 and the period from inception through March 31, 2013. During 2012, 2010 and 2009, the NIH awarded the Company three research grants totaling approximately $558,000. Revenues from the NIH grants are based upon internal and subcontractor costs incurred that are specifically covered by the grants, and where applicable, an additional facilities and administrative rate that provides funding for overhead expenses. These revenues are recognized when expenses have been incurred by subcontractors and as the Company incurs internal expenses that are related to the grants. Revenue recognized under these grants for the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010 was approximately $117,000, $162,000, $57,000 and $131,000, respectively. Total revenue recorded under these grants from inception through March 31, 2013 was approximately $546,000. Stock-based compensation The Company accounts for stock-based compensation in accordance with the Financial Accounting and Standards Board’s ASC Topic718, Compensation — Stock Compensation, which establishes accounting for equity instruments exchanged for employee services. Under such provisions, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense, under the straight-line method, over the employee’s requisite service period (generally the vesting period of the equity grant). The Company accounts for equity instruments, including restricted stock or stock options, issued to non-employees in accordance with authoritative guidance for equity based payments to non-employees. Stock options issued to non-employees are accounted for at their estimated fair value determined using the Black-Scholes option-pricing model. The fair value of options granted to non-employees is re-measured as they vest, and the resulting increase in value, if any, is recognized as expense during the period the related services are rendered. Restricted stock issued to non-employees is accounted for at their estimated fair value as they vest. Comprehensive income (loss) Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), including unrealized gains and losses on investments, are reported, net of their related tax effect, to arrive at comprehensive income (loss). For the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010, and for the period April 19, 2007 (inception) through March 31, 2013, the comprehensive loss was equal to the net loss. Net loss per share Basic and diluted net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares used to compute diluted loss per share excludes any assumed exercise of stock options, and the assumed issuance of common stock under restricted stock units, shares subject to repurchase and warrants as the effect would be anti-dilutive. No dilutive effect was calculated for the three months ended March 31, 2013 or 2012, or the years ended December 31, 2012, 2011 or 2010 as the Company reported a net loss for each respective period and the effect would have been anti-dilutive. Total common stock equivalents that were excluded from computing diluted net loss per share were approximately 8.9 million, 25.8 million, 15.2 million, 6.4 million and 0 for the three months ended March 31, 2013 and 2012 and the years ended December 31, 2012, 2011 and 2010, respectively. Reclassifications Certain reclassifications were made to the 2011 financial statements in order to conform to the presentation of the financial statements for 2012 and subsequent periods. The reclassifications did not have any effect on previously reported net loss or stockholders’ equity (deficit).
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3. Fixed Assets Fixed assets consisted of the following (in thousands):
Depreciation and amortization expense for three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010 was approximately $78,000, $188,000, $63,000 and $57,000, respectively. Depreciation and amortization expense was approximately $414,000 for the period from April 19, 2007 (inception) through March 31, 2013. |
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The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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4. Accrued Expenses Accrued expenses consisted of the following (in thousands):
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5. Derivative Liability During 2012, in relation to the reverse Merger and the three offerings under the Private Placement, the Company issued 21,347,182 five-year warrants to purchase the Company’s common stock. In October and November of 2011, the Company issued 1,500,000 five-year warrants in connection with Convertible Notes. The exercise price of the warrants is protected against down-round financing throughout the term of the warrant, as described below. Pursuant to ASC 815-15 and ASC 815-40, the fair value of the warrants of approximately $32.7 million and $1.3 million in 2012 and 2011, respectively, was recorded as a derivative liability on the issuance dates. The Company revalued the warrants as of the end of each reporting period, and the estimated fair value of the outstanding warrant liabilities was $6.9 million, $20.6 million and $1.3 million as of March 31, 2013, December 31, 2012 and December 31, 2011, respectively. The changes in fair value of the derivative liabilities for the three months ended March 31, 2013 and 2012, and the years ended December 31, 2012 and 2011 were increases of $12.0 million, $13.5 million, $9.9 million and less than $0.1 million, respectively, and are included in other income (expense) in the statements of operations. During the three months ended March 31, 2013 and the year ended December 31, 2012, 6,990,556 and 13,010,237 warrants that were classified as derivative liabilities were exercised. The warrants were revalued as of the settlement date, and the change in fair value was recognized to earnings. In addition, in 2013 the Company entered into amendment agreements with certain of the warrant holders, which removed the down-round pricing protection provision, resulting in 600,065 of these warrants being reclassified from liability instruments to equity instruments. The Company also recognized a reduction in the warrant liability based on the fair value as of the settlement date for the warrants exercised and as of the modification date for the warrants that were amended, with a corresponding increase in additional paid-in capital. The derivative liabilities were valued at the closing dates of the Private Placement and the end of each reporting period using a Monte Carlo valuation model with the following assumptions:
In addition, as of the valuation dates, management assessed the probabilities of future financings assumptions in the Monte Carlo valuation models. Management also applied a discount for lack of marketability to the valuation of the derivative liabilities based on such trading restrictions due to certain of the shares not being registered. In accordance with the terms of the warrant agreements, if, prior to the expiration date of the warrants, the Company issues additional shares of common stock, as defined below, without consideration or for a consideration per share less than the exercise price of the warrants in effect immediately prior to such issue, then the exercise price shall be reduced, concurrently with such issue, to a price (calculated to the nearest cent) determined by multiplying such exercise price by a fraction, (A) the numerator of which shall be (1) the number of shares of common stock outstanding immediately prior to such issue plus (2) the number of shares of common stock which the aggregate consideration received or to be received by the Company for the total number of additional shares of common stock so issued would purchase at such exercise price; and (B) the denominator of which shall be the number of shares of common stock outstanding immediately prior to such issue plus the number of such additional shares of common stock so issued; provided that (i) all shares of common stock issuable upon conversion or exchange of convertible securities outstanding immediately prior to such issue shall be deemed to be outstanding, and (ii) the number of shares of common stock deemed issuable upon conversion or exchange of such outstanding convertible securities shall be determined without giving effect to any adjustments to the conversion or exchange price or conversion or exchange rate of such convertible securities resulting from the issuance of additional shares of common stock that is the subject of this calculation. For purposes of the warrants, “additional shares of common stock” shall mean all shares of common stock issued by the Company after the effective date (including without limitation any shares of common stock issuable upon conversion or exchange of any convertible securities or upon exercise of any option or warrant, on an as-converted basis), other than: (i) shares of common stock (and/or warrants for any class of equity securities of the Company) issued or issuable upon conversion or exchange of any convertible securities or exercise of any options or warrants outstanding on the effective date; (ii) shares of common stock issued or issuable by reason of a dividend, stock split, split-up or other distribution on shares of common stock; (iii) shares of common stock (or options with respect thereto) issued or issuable to employees or directors of, or consultants to, the Company or any of its subsidiaries pursuant to a plan, agreement or arrangement approved by the Board of Directors of the Company; (iv) any securities issued or issuable by the Company pursuant to (A) the Private Placement; or (B) the Merger; (v) securities issued pursuant to acquisitions or strategic transactions approved by a majority of disinterested directors of the Company, provided that any such issuance shall only be to a person which is, itself or through its subsidiaries, an operating company in a business synergistic with the business of the Company and in which the Company receives benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities and (vi) securities issued to financial institutions, institutional investors or lessors in connection with credit arrangements, equipment financings or similar transactions approved by a majority of disinterested directors of the Company, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities. Upon each adjustment of the exercise price pursuant to the provisions stated above, the number of warrant shares issuable upon exercise of the warrants shall be adjusted by multiplying a number equal to the exercise price in effect immediately prior to such adjustment by the number of warrant shares issuable upon exercise of the warrant immediately prior to such adjustment and dividing the product so obtained by the adjusted exercise price. |
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The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Convertible Notes Payable
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Convertible Notes Payable |
6. Convertible Notes Payable Convertible notes From February 9, 2008 through December 31, 2011 the Company raised an aggregate of $2,390,000 in funds through loans consisting of convertible notes (“Convertible Notes”) to certain shareholders, management, vendors, and investors. The notes bore interest at rates ranging from 8% to 10% per annum and had maturity dates ranging from 2011 to 2018. The Convertible Notes were unsecured and subordinated to certain senior indebtedness of the Company, and for all Convertible Notes the principal plus accrued interest was convertible into the Company’s common stock. During October 2011, in connection with the Exchange Agreement and Release, the Convertible Notes and accrued interest converted into the Company’s common stock. Local Bridge During July and August 2011, $740,000 of Convertible Notes bearing interest at 20% per annum, and warrants to purchase shares of common stock were issued to investors. The Convertible Notes were due at the earlier of 1) one year from the issuance date or 2) one week after the consummation of a Merger transaction. The number of warrants to be issued was equal to the note principal divided by the exercise price. The exercise price was the per share or per unit fair market value received in the Merger. The notes were convertible at a price per share equal to seventy-five percent (75%) of the per share fair market value of the total consideration received for a share of a public company’s common stock to be determined to be identified upon consummation of a merger. The Company determined that the beneficial conversion feature and the warrants did not represent embedded derivative instruments. Additionally, at issuance of the Convertible Notes, the Company did not record the discount for the beneficial conversion feature due to the contingencies surrounding conversion. The beneficial conversion feature was recorded when the contingencies were resolved. In accordance with ASC 470-20, Debt with Conversion and Other Options, the Company recorded a discount of approximately $583,700 for the warrants in 2011. The discount was amortized to interest expense over the term of the Convertible Notes using the effective interest method. The Company calculated the fair value of the warrants using the Black-Scholes Model using a volatility of 109.84%, an interest rate of 1.12% and a dividend yield of zero. Certain of these Convertible Notes and accrued interest were converted into the Company’s common stock in October 2011, in connection with the Exchange Agreement and Release, as discussed below. Upon conversion the Company recognized the unamortized debt discount related to these notes to interest expense. The Company recognized approximately $583,700 of interest expense for the amortization of the note discount during the year ended December 31, 2011. Exchange Agreement and Release In October 2011, the Company’s Board of Directors and shareholders approved an Exchange Agreement, whereby the note holders could exchange their Convertible Notes and accrued interest for shares of the Company’s common stock and warrants to purchase the Company’s common stock. A total of $3,030,000 of principal and approximately $459,800 of accrued interest converted, at prices ranging from $0.27 to $0.75, into 7,676,828 shares of the Company’s common stock, plus five-year warrants to purchase 1,309,750 common shares at an exercise price of $1.00 per share. For the holders that elected to participate, the Exchange Agreement and Release resulted in the cancellation of the Convertible Notes and release from the note holders for any claims related to the Convertible Notes. The Company determined that the warrants issued in connection with the Exchange Agreement and Release did not represent derivative instruments. The warrants, valued at approximately $527,600, were classified as equity instruments and recorded as interest expense on the date of issuance in 2011. The Company calculated the fair value of the warrants using the Black-Scholes Model, using a volatility of 110.13%, an interest rate of 1.11% and a dividend yield of zero. At December 31, 2011, an unsecured $100,000 Convertible Note, with interest at 10% and a maturity date of April 2014, remained outstanding. In February 2012, at the close of the Merger, the convertible note and accrued interest in the aggregate of approximately $110,000 were repaid. 2011 Private placement On September 18, 2011, Organovo, Inc.’s Board of Directors authorized a private placement offering of up to 30 Units of its securities at a price of $50,000 per Unit for an aggregate purchase price of $1,500,000. Each Unit consisted of a convertible note in the principal amount of $50,000 accruing simple interest at the rate of 6% per annum (the “Convertible Notes”), plus five-year warrants to purchase 50,000 shares of the next Qualified Round of Equity Securities, at an exercise price of $1.00 per share. The principal plus accrued interest was convertible into the Company’s common stock upon consummation of a Merger transaction. During October and November 2011, $1,500,000 of Convertible Notes bearing interest at 6% per annum with a maturity date of March 30, 2012, and five-year warrants to purchase 1,500,000 shares of the Company’s common stock were issued to investors under the Private Placement. The warrants are exercisable at $1.00 per share, expire in five years, and contain down-round price protection. The Convertible Notes were outstanding at December 31, 2011, and were converted into 1,525,387 Units during February 2012, in connection with the Merger. The Company determined that the warrants represent a derivative instrument due to the down-round price protection, and accordingly, the Company recorded a derivative liability related to the warrants, with a corresponding debt discount of approximately $1,260,300. See Note 5. Additionally, upon issuance of the notes during 2011, the Company recorded the discount for the beneficial conversion feature of $239,700. The debt discount associated with the warrants and beneficial conversion feature were amortized to interest expense over the life of the Convertible Notes, and fully amortized upon conversion of the Convertible Notes in 2012. The Company recorded $0 and approximately $896,200 and $603,800 of interest expense for the amortization of the debt discount during the three months ended March 31, 2013 and the years ended December 31, 2012 and 2011, respectively, and approximately $1,500,000 for the period from inception through March 31, 2013. As consideration for locating investors to participate in the Private Placement, the placement agent earned a cash payment of $195,000 in 2011. Additionally, upon closing of the Merger transaction in 2012, the placement agent earned five-year warrants to purchase 610,155 shares of the Company’s common stock at $1.00 per share. These warrants contain down round protection and were classified as derivative liabilities upon issuance. See Note 5. 2012 Private placement During 2012, concurrently with the closing of the Merger and in contemplation of the Merger, the Company completed the initial closing of the Private Placement of up to 8,000,000 Units of its securities, at a price of $1.00 per Unit, with the ability to increase the offering to an aggregate of up to 16,000,000 Units. Each Unit consisted of one share of common stock and a warrant to purchase one share of common stock. The Company completed three closings under the Private Placement during 2012, and raised total gross proceeds of $13,722,600 and total net proceeds of $11,593,066. The Company issued 13,722,600 shares of its common stock and warrants to purchase 15,247,987 shares of its common stock (including warrants to purchase 1,525,387 shares to former holders of the Convertible Notes) exercisable at $1.00 to investors in the Offering. The placement agent and its selected dealers were paid total cash commissions of $1,372,260 and the placement agent was paid an expense allowance of $411,678 and was issued placement agent warrants to purchase 6,099,195 shares of the Company’s common stock at an exercise price of $1.00 per share. The warrants issued to the investors and the placement agent, as described above, contain down round protection, and accordingly, were classified as derivative liabilities upon issuance. On the closing date, the derivative liabilities were recorded at an estimated fair value of approximately $32,742,000. Given that the fair value of the derivative liabilities exceeded the total proceeds of the private placement of $13,722,600, no net amounts were allocated to the common stock. The amount by which the recorded liabilities exceeded the proceeds of approximately $19,019,400 was charged to other expense at the closing dates. The Company has revalued the derivative liability as of each reporting period, and will continue to do so on each subsequent balance sheet date until the securities to which the derivative liabilities relate are exercised or expire, with any changes in the fair value recognized through earnings in the statement of operations. See Note 5. Interest expense, including amortization of the note discounts and other interest expense was approximately $65,000, $1,088,000, $1,088,000, $2,067,000 and $161,000 for the three months ended March 31, 2013 and 2012, and the years ended December 31, 2012, 2011 and 2010, respectively. Interest expense, including amortization of the note discounts and other interest expense, for the period from April 19, 2007 (inception) through March 31, 2013 was approximately $3,471,000. Registration rights agreement The Company entered into a registration rights agreement (“Registration Rights Agreement”) with the investors in the Offering. Under the terms of the Registration Rights Agreement, the Company agreed to file a registration statement covering the resale of the common stock underlying the Units and the common stock that is issuable on exercise of the Investor Warrants (but not the common stock that is issuable upon exercise of the warrants issued as compensation to the placement agent in connection with the Offering) within 90 days from the final closing date of the Offering (the “Filing Deadline”). The Company filed the registration statement on June 13, 2012. The registration statement became effective during July 2012. The Company agreed to use reasonable efforts to maintain the effectiveness of the registration statement through the one year anniversary from the date the registration statement was declared effective by the Securities and Exchange Commission (the “SEC”), or until Rule 144 of the 1933 Act is available to investors in the Offering with respect to all of their shares, whichever is earlier. If the Company had not met the Effectiveness Deadline, the Company would have been liable for monetary penalties equal to one-half of one percent (0.5%) of each investor’s investment in the offering at the end of every 30 day period following such Effectiveness Deadline failure until such failure was cured. No payments shall be owed with respect to any period during which all of the investor’s registrable securities may be sold by such investor under Rule 144 or pursuant to another exemption from registration. |
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Convertible notes payable. No definition available.
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Stockholders' Equity |
7. Stockholders’ Equity Common stock In October 2011, the Company issued 7,676,828 shares of common stock to note holders for the conversion of Convertible Notes with a principal balance totaling $3,030,000 and accrued interest totaling approximately $459,800.
During February and March 2012, the Company issued 21,247,987 shares of common stock related to the Merger. See Note 2. During the year ended December 31, 2012, the Company issued 13,423,622 shares of common stock upon exercise of 13,532,487 warrants. During the year ended December 31, 2012, a total of 224,064 stock options were exercised for 224,064 shares of common stock. During the three months ended March 31, 2013, the Company issued 6,131,198 shares of common stock upon exercise of 7,090,556 warrants. Restricted stock awards In February 2008, four founders, including the Chief Executive Officer (“CEO”) and three directors of the Company received 11,779,960 shares of restricted common stock, 25% vesting after the first year and the remaining 75% vesting in equal quarterly portions over the following three years. These shares are fully vested as of March 31, 2013. In May of 2008, the Board of Directors of the Company approved the 2008 Equity Incentive Plan (the “2008 Plan”). The 2008 Plan authorized the issuance of up to 1,521,584 common shares for awards of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock award units, and stock appreciation rights. The 2008 Plan terminates on July 1, 2018. No shares were issued under the 2008 Plan during 2012 or the three months ended March 31, 2013, and the Company does not intend to issue any additional shares from the 2008 Plan in the future. From 2008 through December 31, 2011, the Company issued a total of 1,258,934 shares of restricted common stock to various employees, advisors, and consultants of the Company. Of those shares, 1,086,662 were issued under the 2008 Plan and the remaining 172,272 shares were issued outside the plan. In January of 2012, the Board of Directors of the Company approved the 2012 Equity Incentive Plan (the “2012 Plan). The 2012 Plan authorized the issuance of up to 6,553,986 shares of common stock for awards of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, performance shares, and other stock or cash awards. The 2012 Plan terminates ten years after its adoption. During the year ended December 31, 2012, the Company issued an aggregate 950,000 of restricted stock units to certain members of senior management and 230,000 restricted stock units to non-executive employees. The vesting schedule is 25% on the anniversary of the vesting start date over four years. During the year ended December 31, 2012, the Company issued an aggregate 200,000 restricted stock units to certain members of senior management, the vesting of which is performance based. As of March 31, 2013, the Company believed the financial targets would be met, and accordingly is recognizing the related stock based compensation expense over the requisite service period. During the year ended December 31, 2012, there were 185,516 shares of restricted stock cancelled. 148,016 of the restricted stock units that were forfeited relate to shares of common stock returned to the Company, at the option of the holders, to cover the tax liability related to the vesting of 211,250 restricted stock units. Upon the return of the common stock, 83,986 stock option grants with immediate vesting were granted to the individuals at the vesting date market value strike price. The remaining 37,500 restricted stock units were forfeited by one staff member upon termination of their employment with the Company. During the three months ended March 31, 2013, the Company issued an aggregate of 55,000 restricted stock units with immediate vesting to a consultant.
During the three months ended March 31, 2013, there were 34,690 shares of restricted stock cancelled. 24,690 shares of forfeited restricted stock units relate to shares of common stock returned to the Company, at the option of the holder, to cover the tax liability related to the vesting of 50,000 restricted stock units. Upon the return of the common stock, 24,690 stock option grants with immediate vesting were granted to the individual at the vesting date market value strike price. The remaining 10,000 shares of restricted stock were forfeited by one staff member upon termination of their employment with the Company. A summary of the Company’s restricted stock award activity is as follows:
The fair value of each restricted common stock award is recognized as stock-based expense over the vesting term of the award. The Company recorded restricted stock-based compensation expense in operating expenses for employees and non-employees of approximately $478,000, $835,000, $3,000 and $4,000 during the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010, respectively. The Company recorded restricted stock-based compensation expense of approximately $1,324,000 for the period from April 19, 2007 (inception) through March 31, 2013. Expense for each of the periods included approximately $4,000, $23,000, $0 and $0 for research and development during the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010, respectively. General and administrative expense for the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010 were approximately $474,000, $812,000, $3,000 and $4,000, respectively. As of March 31, 2013, total unrecognized restricted stock-based compensation expense was approximately $1,300,000, which will be recognized over a weighted average period of 2.42 years.
Stock options Under the 2008 Equity Incentive Plan, on October 12, 2011, the Company granted an officer incentive stock options to purchase 896,256 shares of common stock at an exercise price of $0.08 per share, a quarter of which vested on the one year anniversary of employment, in May 2012, and the remaining options are vesting ratably over the remaining 36 month term. Other than this grant, the Company does not intend to issue any additional shares under the 2008 Plan. During the three months ended March 31, 2013 and the year ended December 31, 2012 under the 2012 Equity Incentive Plan, 927,981 and 2,023,394 incentive stock options were issued respectively, at various exercise prices, a quarter of which will vest on either the one year anniversary of employment or one year anniversary of the vesting commencement date. The remaining options will vest ratably over the remaining 36 month terms, with the exception of 24,690 and 83,986 of the incentive stock option grants during the three month period ended March 31, 2013 and the year December 31, 2012 respectively, that have immediate vesting at the grant date and 124,000 of the incentive stock option grants in the year ended December 31, 2012 that vest quarterly over three years. The following table summarizes stock option activity for 2010 through 2012 and the three months ended March 31, 2013:
The weighted-average remaining contractual term of options exercisable and outstanding at March 31, 2013 was approximately 9.5 years and 9.33 years, respectively. The Company uses the Black-Scholes valuation model to calculate the fair value of stock options. Stock based compensation expense is recognized over the vesting period using the straight-line method. The fair value of stock options was estimated at the grant date using the following weighted average assumptions:
The assumed dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. Due to the Company’s limited historical data, the estimated volatility incorporates the historical and implied volatility of comparable companies whose share prices are publicly available. The risk-free interest rate assumption was based on the U.S. Treasury rates. The weighted average expected life of options was estimated using the average of the contractual term and the weighted average vesting term of the options. Certain options granted to consultants are subject to variable accounting treatment and are required to be revalued until vested. The total stock option based compensation recorded as operating expense was approximately $370,000, $600,000, $6,000 and $0 for the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010, respectively. The Company recorded stock-based compensation expense of approximately $976,000 for the period from April 19, 2007 (inception) through March 31, 2013. Expense for each of the periods included approximately $58,000, $81,000, $0 and $0 for research and development during the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010 respectively. General and administrative expense for the three months ended March 31, 2013 and years ended December 31, 2012, 2011 and 2010 were approximately $312,000, $519,000, $6,000 and $0 respectively. The total unrecognized compensation cost related to unvested stock option grants as of March 31, 2013 was approximately $4,926,000 and the weighted average period over which these grants are expected to vest is 3.5 years. Warrants During the years ended December 31, 2012 and 2011, the Company issued warrants to investors to purchase 21,347,182 and 2,909,750 shares, respectively, of its common stock. During the three months ended March 31, 2013 and the year ended December 31, 2012, 3,852,214 and 13,259,987 of these warrants were exercised for cash proceeds of approximately $3,850,000 and $11,356,000, respectively, and 3,138,342 and 272,500 of these warrants were exercised through a cashless exercise for issuance of 2,220,764 and 163,635 shares of common stock, respectively. No warrants were exercised during 2011. In December 2012, the Company consummated a warrant tender offer to the holders of outstanding warrants to purchase approximately 14.5 million shares of the Company’s common stock. In accordance with the tender offer, for those warrant holders that elected to participate, this resulted in a reduction of the exercise price of the warrants from $1.00 per share to $0.80 per share of common stock in cash, shortened the exercise period of the warrants so that they expired concurrently with the tender offer, and removed the price-based anti-dilution provisions contained in the warrants. The Company completed the tender offer on December 21, 2012, resulting in approximately 9.6 million warrants being exercised for gross proceeds of approximately $7,700,000. In connection with the transaction, the Company recognized an expense for the inducement to exercise the warrants of approximately $1,900,000. The Company also incurred approximately $400,000 in placement agent fees, legal costs, and other related fees, which have been recognized as an offset to the proceeds received from the warrant exercises. 6,990,556 of the warrants exercised during the three months ended March 31, 2013 and 13,010,237 of the warrants exercised in 2012 were derivative liabilities and were valued at the settlement date. The warrant liability was reduced to equity at the fair value on the settlement date. See Note 5. During March 2013, the Company entered into amendment agreements for 600,065 warrants to purchase common stock which reduced the exercise price of the warrants from $1.00 to $0.90, extended the exercise term to five years from the effective date of the amendment, and removed the down-round price protection provision of the warrant agreement related to the adjustment of exercise price upon issuance of additional shares of common stock. As a result of the removal of the down-round price protection provision, the warrants were reclassified from liability to equity instruments at their fair value. The Company determined the incremental expense associated with the modification based on the fair value of the awards prior to and subsequent to the modification. The fair value of the awards subsequent to modification was calculated using the Black-Scholes model. The incremental expense associated with the modification of approximately $65,000 was recognized as interest expense for the three months ended March 31, 2013. Additionally, during the year ended December 31, 2012 the Company entered into four agreements with consultants for services. In connection with the agreements, the Company issued a total of 650,000 warrants to purchase common stock, at prices ranging from $1.70 to $3.24, with lives ranging from two to five years, to be earned over service periods of up to six months. The fair value of the warrants was estimated to be approximately $890,000, which was recognized as a prepaid asset and is being amortized over the term of the consulting agreements. These warrants were classified as equity instruments because they do not contain any anti-dilution provisions. The Black-Scholes model, using volatility rates ranging from 79.8% to 103.8% and risk free interest rate factors ranging from 0.24% to 0.63%, were used to determine the value. The value is being amortized over the term of the agreements. During the three months ended March 31, 2013 and the year ended December 31, 2012, the Company recognized approximately $261,000 and $556,000, respectively, of expense related to these services. During the three months ended March 31, 2013, 58,220 shares of common stock were issued through a cashless exercise of 100,000 of these warrants. The following table summarizes warrant activity for the years ended December 31, 2011 and 2012 and the three months ended March 31, 2013:
The warrants outstanding at March 31, 2013 are immediately exercisable at prices between $0.90 and $3.24 per share, and have a weighted average remaining term of approximately 3.88 years. Common stock reserved for future issuance Common stock reserved for future issuance consisted of the following at March 31, 2013:
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The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies |
8. Commitments and Contingencies Operating leases The Company leases office and laboratory space under a non-cancelable operating lease which was entered into in February 2012 with the future minimum lease payments from the current lease included below. The Company records rent expense on a straight-line basis over the life of the lease and records the excess of expense over the amounts paid as deferred rent. Deferred rent is included in accrued expenses in the consolidated balance sheets. Rent expense was approximately $105,500, $60,200, $325,600, $145,200 and $107,500 for the three months ended March 31, 2013 and 2012, and the years ended December 31, 2012, 2011 and 2010, respectively. Rent expense was approximately $755,700 for the period from April 19, 2007 (inception) through March 31, 2013. The Company entered into a new facilities lease at 6275 Nancy Ridge Drive, San Diego, CA 92121. The lease was signed on February 27, 2012 with occupancy as of July 15, 2012. The base rent under the lease is approximately $38,800 per month with 3% annual escalators. The lease term is 48 months with an option for the Company to extend the lease at the end of the lease term. Future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of March 31, 2013, are as follows (in thousands):
Capital leases During 2012, the Company entered into an agreement to lease certain laboratory equipment under a non-cancelable capital lease, which is included in fixed assets as follows (in thousands):
Depreciation expense related to the capital lease obligation was approximately $1,700 and 2,900 for the three months ended March 31, 2013 and the year ended December 31, 2012, respectively. Future minimum capital lease payments at March 31, 2013 are as follows (in thousands):
Legal Matters In addition to commitments and obligations in the ordinary course of business, the Company is subject to various claims and pending and potential legal actions arising out of the normal conduct of our business. The Company assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in its financial statements. An estimated loss contingency is accrued in its financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable and unfavorable resolutions could occur, assessing litigation contingencies is highly subjective and requires judgments about future events. When evaluating contingencies, the Company may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. In addition, damage amounts claimed in litigation against it may be unsupported, exaggerated or unrelated to possible outcomes, and as such are not meaningful indicators of its potential liability. The Company regularly reviews contingencies to determine the adequacy of its accruals and related disclosures. The amount of ultimate loss may differ from these estimates. It is possible that cash flows or results of operations could be materially affected in any particular period by the unfavorable resolution of one or more of these contingencies. Whether any losses finally determined in any claim, action, investigation or proceeding could reasonably have a material effect on the Company’s business, financial condition, results of operations or cash flows will depend on a number of variables, including: the timing and amount of such losses; the structure and type of any remedies; the monetary significance of any such losses, damages or remedies may have on our consolidated financial statements; and the unique facts and circumstances of the particular matter that may give rise to additional factors. The aggregate amounts accrued related to these matters are not material to the total liabilities of the Company. |
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The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Licensing Agreements and Research Contracts
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Licensing Agreements and Research Contracts |
9. Licensing Agreements and Research Contracts University of Missouri On March 24, 2009, the Company entered into a license agreement with the Curators of the University of Missouri to in-license certain technology and intellectual property relating to self-assembling cell aggregates and to intermediate cellular units. The Company received the exclusive worldwide rights to commercialize products comprising this technology for all fields of use. The Company paid to the University of Missouri a nonrefundable license fee of $25,000 and has committed to reimburse the University of Missouri for certain prior and future patent costs. Each year the Company is required to pay the University of Missouri royalties ranging from 1% to 3% of net sales depending on the level of net sales achieved by the Company each year. A minimum annual royalty of $25,000 is due beginning 2 years after the calendar year of the first commercial sale and is credited to sales royalties. The license agreement terminates upon expiration of the patents licensed and is subject to certain conditions as defined in the license agreement, which are expected to expire after 2029. The $25,000 license fee is included in Other Assets in the accompanying balance sheets and is being amortized over the life of the related patent. On March 12, 2010, the Company entered into a license agreement with the Curators of the University of Missouri to in-license certain technology and intellectual property relating to engineered biological nerve grafts. The Company received the exclusive worldwide rights to commercialize products comprising this technology for all fields of use. The Company paid to University of Missouri a nonrefundable license fee of $5,000 and has committed to reimburse the University of Missouri for certain prior and future patent costs. In 2012 and 2011, the Company paid the University of Missouri approximately $193,500 and $23,800, respectively, for prior patent costs relating to the license agreements with the University of Missouri. No payments were made during the three months ended March 31, 2013. Each year the Company is required to pay the University of Missouri royalties ranging from 1% to 3% of net sales depending on the level of net sales achieved by the Company each year. A minimum annual royalty of $5,000 is due beginning 2 years after the calendar year of the first commercial sale and is credited to sales royalties. An additional royalty of $12,500 is due if there are no net sales within five years from the effective date of the license. The license agreement terminates upon expiration of the patents licensed and is subject to certain conditions as defined in the license agreement. The $5,000 license fee is included in Other Assets and is being amortized over the life of the related patent. Clemson University On May 2, 2011, the Company entered into a license agreement with Clemson University Research Foundation to in-license certain technology and intellectual property relating to ink-jet printing of viable cells. The Company received the exclusive worldwide rights to commercialize products comprising this technology for all fields of use. The Company agreed to pay Clemson University a nonrefundable license fee of $32,500, as well as an additional $32,500 to reimburse Clemson University for certain prior and future patent costs. These fees, totaling $65,000, are included in Other Assets and are being amortized over the life of the related patent. Each year the Company is required to pay the University royalties ranging from 1.5% to 3% of net sales depending on the level of net sales reached each year and minimum annual fees ranging from $20,000 to $40,000. Specific terms of the royalty and license agreements are confidential. The license agreement terminates upon expiration of the patents licensed, which is expected to expire in May 2024, and is subject to certain conditions as defined in the license agreement. No royalty payments have been made under the above license agreements as of March 31, 2013. Approximately $4,000 will be due to the University of Missouri in the fiscal year ended March 31, 2014 relating to the first commercial sale. Annual royalty payments of $25,000 will be due to the University of Missouri beginning in the fiscal year ended March 31, 2015 per the terms of the respective license agreements. Becton Dickinson In February of 2013, we purchased the exclusive rights to intellectual property relating to perfusion bioreactors for culturing cells from Becton Dickinson and Company for $18,500. This fee is included in Other Assets and is being amortized over the life of the related patent. This patent represents the acquisition of bioreactor technology for the support of our 3D tissues for use in drug discovery and development. No future royalties or milestone payments are owed to Becton Dickinson and Company for this patent. Capitalized license fees consisted of the following (in thousands):
Amortization expense of licenses was approximately $2,000, $7,000, $5,200, $1,500 and $16,700 for the three months ended March 31, 2013, the years ended December 31 2012, 2011 and 2010, and the period from April 19, 2007 (inception) through March 31, 2013, respectively. At March 31, 2013, the weighted average remaining amortization period for all licenses was approximately 12 years. The annual amortization expense of licenses for the next five years is estimated to be approximately $8,500 per year.
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Licensing agreements and research contracts. No definition available.
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Income Taxes
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Income Taxes |
10. Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred tax assets are as follows as of March 31, 2013, December 31, 2012 and December 31, 2011 (in thousands):
A full valuation allowance has been established to offset the deferred tax assets as management cannot conclude that realization of such assets is more likely than not. Under the Internal Revenue Code (“IRC”) Sections 382 and 383, annual use of our net operating loss and research tax credit carryforwards to offset taxable income may be limited based on cumulative changes in ownership. We have not completed an analysis to determine whether any such limitations have been triggered as of March 31, 2013. Until this analysis is completed, we have removed the deferred tax assets related to net operating losses and research credits from our deferred tax asset schedule. The valuation allowance increased by approximately $117,000 and decreased by approximately $1,075,000 during the three months ended March 31, 2013 and the year ended December 31, 2012, respectively. The Company had federal and state net operating loss carryforwards of approximately $15,382,000 and $15,378,000 at March 31, 2013, respectively. The federal and state net operating loss carryforwards will begin expiring in 2028, unless previously utilized. The Company had federal and state research tax credit carry forwards of approximately $292,000 and $308,000 at March 31, 2013, respectively. The federal research tax credit carryforwards begin expiring in 2028. The state research tax credit carryforwards do not expire. In 2009 the Company adopted the accounting guidance for uncertainty in income taxes pursuant to ASC 740-10. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. The Company did not record any accruals for income tax accounting uncertainties for the three months ended March 31, 2013 or the years ended December 31, 2012, 2011 or 2010. The Company’s policy is to recognize interest and penalties that would be assessed in relation to the settlement value of unrecognized tax benefits as a component of income tax expense. The Company did not accrue either interest or penalties as of March 31, 2013, December 31, 2012 or 2011. The Company is subject to tax in the United States and in the state of California. As of March 31, 2013, the Company’s tax years from inception are subject to examination by the tax authorities. The Company is not currently under examination by any U.S. federal or state jurisdictions.
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Concentrations
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Mar. 31, 2013
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Concentrations [Abstract] | |
Concentrations |
11. Concentrations Credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of temporary cash investments. The Company maintains cash balances at various financial institutions primarily located in San Diego. Accounts at these institutions are secured by the Federal Deposit Insurance Corporation. At times, balances may exceed federally insured limits. The Company has not experienced losses in such accounts, and management believes that the Company is not exposed to any significant credit risk with respect to its cash and cash equivalents. |
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The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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Mar. 31, 2013
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Subsequent Events [Abstract] | |
Subsequent Events |
12. Subsequent Events Subsequent to March 31, 2013, the Company entered into amendment agreements for 269,657 warrants to purchase common stock, which reduced the exercise price of the warrants from $1.00 to $0.85, extended the exercise term to five years from the effective date of the amendment, and removed the down-round price protection provision of the warrant agreement related to the adjustment of exercise price upon issuance of additional shares of common stock. |
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Description of Business and Summary of Significant Accounting Policies (Policies)
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Nature of operations and basis of presentation |
Nature of operations and basis of presentation Organovo Holdings, Inc., (the “Company”), through its wholly-owned subsidiary, Organovo, Inc., a Delaware corporation, has devoted substantially all of its resources to product development, raising capital, and building infrastructure. The Company is developing and commercializing functional human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. All of the Company’s potential products are in research and development phases and as of March 31, 2013 the Company has not generated revenue from its planned principal operations. The Company does earn revenue from research and development agreements with collaborators and grants from governmental entities. Accordingly, the Company is considered to be in the development stage. |
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Reverse merger transaction |
Reverse merger transaction On February 8, 2012, Organovo, Inc., a privately held Delaware corporation, merged with and into Organovo Acquisition Corp., a wholly-owned subsidiary of Organovo Holdings, Inc., a publicly traded Delaware corporation, with Organovo, Inc. surviving the merger as a wholly-owned subsidiary of the Company (the “Merger”). As a result of the Merger, the Company acquired the business of Organovo, Inc., and will continue the existing business operations of Organovo, Inc. Simultaneously with the Merger, on February 8, 2012 (the “closing date”), all of the issued and outstanding shares of Organovo, Inc.’s common stock converted, on a 1 for 1 basis, into shares of the Company’s common stock, par value $0.001 per share. Also, on the closing date, all of the issued and outstanding options to purchase shares of Organovo, Inc.’s common stock and other outstanding warrants to purchase Organovo, Inc.’s common stock, and all of the issued and outstanding bridge warrants to purchase shares of Organovo, Inc.’s common stock, converted on a 1 for 1 basis, into options, warrants and new bridge warrants to purchase shares of the Company’s common stock. Immediately following the consummation of the Merger: (i) the former security holders of Organovo, Inc. common stock had an approximate 75% voting interest in the Company and the Company stockholders retained an approximate 25% voting interest, (ii) former executive management team of Organovo, Inc. remained as the only continuing executive management team for the Company, and (iii) the Company’s ongoing operations consist solely of the ongoing operations of Organovo, Inc. Based primarily on these factors, the Merger was accounted for as a reverse merger and a recapitalization in accordance with accounting principles generally accepted in the United States (“GAAP”). As a result, these financial statements reflect the historical results of Organovo, Inc. prior to the Merger, and the combined results of the Company following the Merger. The par value of Organovo, Inc. common stock immediately prior to the Merger was $0.0001 per share. The par value subsequent to the Merger is $0.001 per share, and therefore the historical results of Organovo, Inc. prior to the Merger have been retroactively adjusted to affect the change in par value. In connection with three separate closings of a private placement transaction completed in connection with the Merger (the “Private Placement”), the Company received gross proceeds of approximately $5.0 million, $1.8 million and $6.9 million on closings on February 8, 2012, February 29, 2012 and March 16, 2012, respectively. In 2011, the Company received $1.5 million from the purchase of 6% convertible notes which were automatically converted into 1,500,000 shares of common stock, plus 25,387 shares for accrued interest of $25,387 on the principal, on February 8, 2012. The cash transaction costs related to the Merger were approximately $2.1 million. Before the Merger, Organovo Holdings’ Board of Directors and stockholders adopted the 2012 Equity Incentive Plan (the “2012 Plan”). The 2012 Plan provides for the issuance of 6,553,986 shares of the Company’s common stock to executive officers, directors, advisory board members and employees. In addition, Organovo Holdings assumed and adopted Organovo, Inc.’s 2008 Equity Incentive Plan, which provided for the issuance of 896,256 shares of common stock, for total shares available for issuance under these plans of 7,450,242. |
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Liquidity |
Liquidity As of March 31, 2013, the Company had an accumulated deficit of approximately $66.4 million. The Company also had negative cash flows from operations of approximately $2.8 million during the three months ended March 31, 2013. On February 8, 2012, the Company received gross proceeds of approximately $5.0 million from the initial closing of a private placement offering in conjunction with the Merger (the “Private Placement”). On February 29, 2012 and March 16, 2012, the Company completed two additional closings of its Private Placement receiving gross proceeds of approximately $1.8 million and $6.9 million respectively. In December 2012, the Company consummated a warrant tender offer to the holders of outstanding warrants to purchase approximately 14.5 million shares of the Company’s common stock. In accordance with the tender offer, for those warrant holders that elected to participate, this resulted in a reduction of the exercise price of the warrants from $1.00 per share to $0.80 per share of common stock in cash, shortened the exercise period of the warrants so that they expired concurrently with the tender offer, and removed the price-based anti-dilution provisions contained in the warrants. The Company completed the tender offer on December 21, 2012, resulting in approximately 9.6 million warrants being exercised for gross proceeds of approximately $7.7 million. In connection with the transaction, the Company recognized an expense for the inducement to exercise the warrants of approximately $1.9 million. The Company also incurred approximately $0.4 million in placement agent fees, legal costs, and other related fees, which have been recognized as an offset to the proceeds received from the warrant exercises. On February 5, 2013, the Company provided a Notice of Redemption to affected warrant holders, of approximately 2.4 million warrant shares, that they would have until March 14, 2013 to exercise their outstanding warrants at $1.00 per share. Thereafter, any warrants that remained unexercised would have been automatically redeemed by the Company at a redemption price of $0.0001 per share of common stock then issuable upon exercise of the redeemed warrant. As of March 14, 2013, all redeemable warrants had been exercised for net proceeds of approximately $2.3 million. During the three months ended March 31, 2013, the Company also received approximately $1.4 million of additional proceeds from the exercise of other warrants unrelated to the Redemption Notification.
Through March 31, 2013, the Company has financed its operations primarily through the sale of convertible notes, the private placement of equity securities, and through revenue derived from grants or collaborative research agreements. Based on its current operating plan and available cash resources, the Company has sufficient resources to fund its business for at least the next 12 months. The Company will need additional capital to further fund product development and commercialization of its human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. The Company intends to cover its future operating expenses through cash on hand, through additional financing from existing and prospective investors, and from revenue derived from grants and collaborative research agreements. However, we may not be successful in obtaining funding from new or existing collaborative research agreements. In addition, we cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to us or to our stockholders. Further, the NIH has notified all grant recipients that due to the current Congressional budget sequestration, the NIH may not be able to issue continuation awards, or it may be required to negotiate a reduction in the scope of existing awards to meet the constraints imposed. Additionally, plans for new grants or cooperative agreements may be re-scoped, delayed, or canceled depending on the nature of the work and the availability of resources. As a result, we cannot assure you that we will receive the funding under our existing NIH grants, and we may not be successful in securing additional grants from the NIH in the future. Having insufficient funds may require us to delay, scale back, or eliminate some or all of our development programs or relinquish rights to our technology on less favorable terms than we would otherwise choose. Failure to obtain adequate financing could eventually adversely affect our ability to operate as a going concern. If we raise additional funds from the issuance of equity securities, substantial dilution to our existing stockholders would likely result. If we raise additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict our ability to operate our business. |
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Use of estimates |
Use of estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant estimates used in preparing the consolidated financial statements include those assumed in computing the valuation of warrants and conversion features, revenue recognized under the proportional performance model, the valuation of stock-based compensation expense, and the valuation allowance on deferred tax assets. |
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Financial instruments |
Financial instruments For certain of the Company’s financial instruments, including cash and cash equivalents, grants receivable, inventory, prepaid expenses and other assets, accounts payable, accrued expenses, deferred revenue, capital lease obligations, and convertible notes payable, the carrying amounts are generally considered to be representative of their respective fair values because of the short-term nature of those instruments. |
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Cash and cash equivalents |
Cash and cash equivalents The Company considers all highly liquid investments with original maturities of 90 days or less to be cash equivalents. |
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Derivative financial instruments |
Derivative financial instruments The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency.
The Company reviews the terms of convertible debt and equity instruments it issues to determine whether there are derivative instruments, including an embedded conversion option that is required to be bifurcated and accounted for separately as a derivative financial instrument. In circumstances where a host instrument contains more than one embedded derivative instrument, including a conversion option, that is required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. Also, in connection with the sale of convertible debt and equity instruments, the Company may issue freestanding warrants that may, depending on their terms, be accounted for as derivative instrument liabilities, rather than as equity. Derivative instruments are initially recorded at fair value and are then revalued at each reporting date with changes in the fair value reported as non-operating income or expense. When the convertible debt or equity instruments contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds allocated to the convertible host instruments are first allocated to the fair value of all the bifurcated derivative instruments. The remaining proceeds, if any, are then allocated to the convertible instruments themselves, usually resulting in those instruments being recorded at a discount from their face value. The discount from the face value of the convertible debt, together with the stated interest on the instrument, is amortized over the life of the instrument through periodic charges to interest expense, using the effective interest method. |
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Restricted cash |
Restricted cash As of March 31, 2013 and December 31, 2012, the Company had approximately $88,300 of restricted cash deposited with a financial institution. $38,300 is held in certificates of deposit to support a letter of credit agreement related to the facility lease entered into during 2012. The additional $50,000 is held by the financial institution as a guarantee for the Company’s commercial credit cards. |
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Grant receivable |
Grant receivable Grant receivable represents the amount due from the National Institutes of Health (“NIH”) under a research grant. The Company considers the grant receivable to be fully collectible; and accordingly, no allowance for doubtful amounts has been established. If amounts become uncollectible, they are charged to operations. |
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Inventory |
Inventory Inventories are stated at the lower of the cost or market (first-in, first-out). Inventory at March 31, 2013 consisted of approximately $88,000 in raw materials. Inventory at December 31, 2012 consisted of approximately $196,000 in finished goods, $60,000 work-in-process and $104,000 in raw materials. Inventory at December 31, 2011 consisted of approximately $204,000 in finished goods, $24,000 in work-in-process and $64,000 in raw materials. The Company provides inventory allowances based on excess or obsolete inventories determined based on anticipated use in the final product. There was no obsolete inventory reserve as of March 31, 2013, December 31, 2012 or December 31, 2011. |
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Deferred financing costs |
Deferred financing costs As of March 31, 2013 and December 31, 2012, there were no deferred financing costs. As of December 31, 2011, deferred financing costs consisted of approximately $140,000 associated with the Merger transaction and approximately $179,000 associated with convertible notes as part of the private placement offering that was initiated in the fourth quarter of 2011. The deferred financing costs related to the private placement offering were being amortized over the life of the convertible notes and were fully amortized to expense upon conversion of the convertible notes on February 8, 2012. The deferred financing costs associated with the Merger transaction were recorded as an offset to the proceeds received, with the amount in excess of the proceeds received expensed at the effective Merger date. |
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Fixed assets and depreciation |
Fixed assets and depreciation Property and equipment are carried at cost. Expenditures that extend the life of the asset are capitalized and depreciated. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the related assets or, in the case of leasehold improvements, over the lesser of the useful life of the related asset or the lease term. The estimated useful lives of the fixed assets range between two and five years. |
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Impairment of long-lived assets |
Impairment of long-lived assets In accordance with authoritative guidance the Company reviews its long-lived assets, including property and equipment and other assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. To determine recoverability of its long-lived assets, the Company evaluates whether future undiscounted net cash flows will be less than the carrying amount of the assets and adjusts the carrying amount of its assets to fair value. Management has determined that no impairment of long-lived assets occurred in the period from inception through March 31, 2013. |
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Fair value measurement |
Fair value measurement Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:
The Company has issued warrants, of which some are classified as derivative liabilities as a result of the terms in the warrants that provide for down-round protection in the event of a dilutive issuance. The Company uses Level 3 inputs for its valuation methodology for the warrant derivative liabilities. The estimated fair values were determined using a Monte Carlo option pricing model based on various assumptions (see Note 5). The Company’s derivative liabilities are adjusted to reflect estimated fair value at each period end, with any decrease or increase in the estimated fair value being recorded in other income or expense accordingly, as adjustments to the fair value of derivative liabilities. Various factors are considered in the pricing models we use to value the warrants, including the Company’s current stock price, the remaining life of the warrants, the volatility of the Company’s stock price, and the risk free interest rate. Future changes in these factors will have a significant impact on the computed fair value of the warrant liability. As such, we expect future changes in the fair value of the warrants to continue to vary significantly from quarter to quarter.
The estimated fair values of the liabilities measured on a recurring basis are as follows:
The following table presents the activity for liabilities measured at estimated fair value using unobservable inputs for 2011 and 2012 and the three months ended March 31, 2013: Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
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Research and development |
Research and development Research and development expenses, including direct and allocated expenses, consist of independent research and development costs, as well as costs associated with sponsored research and development. Research and development costs are expensed as incurred. |
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Income taxes |
Income taxes Deferred income taxes are recognized for the tax consequences in future years for differences between the tax basis of assets and liabilities and their financial reporting amounts at each year end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the combination of the tax payable for the year and the change during the year in deferred tax assets and liabilities. |
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Revenue recognition |
Revenue recognition The Company’s revenues are derived from collaborative research agreements, NIH and U.S. Treasury Department Grants, the sale of bioprinter related products and services, and license agreements. The Company recognizes revenue when the following criteria have been met: (i) persuasive evidence of an arrangement exists; (ii) services have been rendered or product has been delivered; (iii) price to the customer is fixed and determinable; and (iv) collection of the underlying receivable is reasonably assured. Billings to customers or payments received from customers are included in deferred revenue on the balance sheet until all revenue recognition criteria are met. As of March 31, 2013, December 31, 2012 and December 31, 2011, the Company had approximately $62,000, $0 and $152,500, respectively, in deferred revenue related to its collaborative research programs. |
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Product Revenue |
Product Revenue The Company recognizes product revenue at the time of shipment to the customer, provided all other revenue recognition criteria have been met. The Company recognizes product revenues upon shipment to distributors, provided that (i) the price is substantially fixed or determinable at the time of sale; (ii) the distributor’s obligation to pay the Company is not contingent upon resale of the products; (iii) title and risk of loss passes to the distributor at time of shipment; (iv) the distributor has economic substance apart from that provided by the Company; (v) the Company has no significant obligation to the distributor to bring about resale of the products; and (vi) future returns can be reasonably estimated. For any sales that do not meet all of the above criteria, revenue is deferred until all such criteria have been met. |
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Research and Development Revenue Under Collaborative Agreements |
Research and Development Revenue Under Collaborative Agreements The Company’s collaboration revenue consists of license and collaboration agreements that contain multiple elements, including non-refundable upfront fees, payments for reimbursement of third-party research costs, payments for ongoing research, payments associated with achieving specific development milestones and royalties based on specified percentages of net product sales, if any. The Company considers a variety of factors in determining the appropriate method of revenue recognition under these arrangements, such as whether the elements are separable, whether there are determinable fair values and whether there is a unique earnings process associated with each element of a contract. The Company recognizes revenue from research funding under collaboration agreements when earned on a “proportional performance” basis as research hours are incurred. The Company performs services as specified in each respective agreement on a best-efforts basis, and is reimbursed based on labor hours incurred on each contract. The Company initially defers revenue for any amounts billed or payments received in advance of the services being performed and recognizes revenue pursuant to the related pattern of performance, based on total labor hours incurred relative to total labor hours estimated under the contract. In December 2010, the Company entered into a 12 month research contract agreement with a third party, whereby the Company was engaged to perform research and development services on a fixed-fee basis for approximately $600,000. Based on the proportional performance criteria, the Company recognized approximately $150,000 and $450,000 in revenue related to the contract during the years ended December 31, 2012 and 2011, respectively. Total revenue recognized on the contract from inception through March 31, 2013 was approximately $600,000. In October 2011, the Company entered into a research contract agreement with a third party, whereby the Company is performing research and development services on a fixed-fee basis for $1,365,000. The agreement included an initial payment to the Company of approximately $239,000 with remaining payments expected to occur over a twenty-one month period. On November 27, 2012, the agreement was amended to include additional research and development services, for an additional $135,000, bringing the total contract value to $1,500,000. This extends the original contract (which runs concurrently) from twenty-one months to twenty-eight months. The Company recorded approximately $97,000, $885,000 and $239,000 for the three months ended March 31, 2013 and the years ended December 31, 2012 and 2011, respectively, in revenue related to the research contract in recognition of the proportional performance achieved. Total revenue recognized on the contract from inception through March 31, 2013 was approximately $1,221,000. |
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Revenue Arrangements with Multiple Deliverables |
Revenue Arrangements with Multiple Deliverables The Company occasionally enters into revenue arrangements that contain multiple deliverables. Judgment is required to properly identify the accounting units of the multiple deliverable transactions and to determine the manner in which revenue should be allocated among the accounting units. Moreover, judgment is used in interpreting the commercial terms and determining when all criteria of revenue recognition have been met for each deliverable in order for revenue recognition to occur in the appropriate accounting period. For multiple deliverable agreements, consideration is allocated at the inception of the agreement to all deliverables based on their relative selling price. The relative selling price for each deliverable is determined using VSOE of selling price or third-party evidence of selling price if VSOE does not exist. If neither VSOE nor third-party evidence of selling price exists, the Company uses its best estimate of the selling price for the deliverable. The Company recognizes revenue for delivered elements only when it determines there are no uncertainties regarding customer acceptance. While changes in the allocation of the arrangement consideration between the units of accounting will not affect the amount of total revenue recognized for a particular sales arrangement, any material changes in these allocations could impact the timing of revenue recognition, which could affect the Company’s results of operations. The Company expects to periodically receive license fees for non-exclusive research licensing associated with funded research projects. License fees under these arrangements are recognized over the term of the contract or development period as it has been determined that such licenses do not have stand-alone value. |
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NIH and U.S. Treasury Grant Revenues |
NIH and U.S. Treasury Grant Revenues During 2010, the U.S. Treasury awarded the Company two one-time grants totaling approximately $397,000 for investments in qualifying therapeutic discovery projects under section 48D of the Internal Revenue Code. The grants cover reimbursement for qualifying expenses incurred by the Company in 2010 and 2009. The proceeds from these grants are classified in “Revenues — Grants” for the year ended December 31, 2010 and the period from inception through March 31, 2013. During 2012, 2010 and 2009, the NIH awarded the Company three research grants totaling approximately $558,000. Revenues from the NIH grants are based upon internal and subcontractor costs incurred that are specifically covered by the grants, and where applicable, an additional facilities and administrative rate that provides funding for overhead expenses. These revenues are recognized when expenses have been incurred by subcontractors and as the Company incurs internal expenses that are related to the grants. Revenue recognized under these grants for the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010 was approximately $117,000, $162,000, $57,000 and $131,000, respectively. Total revenue recorded under these grants from inception through March 31, 2013 was approximately $546,000. |
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Stock-based compensation |
Stock-based compensation The Company accounts for stock-based compensation in accordance with the Financial Accounting and Standards Board’s ASC Topic718, Compensation — Stock Compensation, which establishes accounting for equity instruments exchanged for employee services. Under such provisions, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense, under the straight-line method, over the employee’s requisite service period (generally the vesting period of the equity grant). The Company accounts for equity instruments, including restricted stock or stock options, issued to non-employees in accordance with authoritative guidance for equity based payments to non-employees. Stock options issued to non-employees are accounted for at their estimated fair value determined using the Black-Scholes option-pricing model. The fair value of options granted to non-employees is re-measured as they vest, and the resulting increase in value, if any, is recognized as expense during the period the related services are rendered. Restricted stock issued to non-employees is accounted for at their estimated fair value as they vest. |
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Comprehensive income (loss) |
Comprehensive income (loss) Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), including unrealized gains and losses on investments, are reported, net of their related tax effect, to arrive at comprehensive income (loss). For the three months ended March 31, 2013 and the years ended December 31, 2012, 2011 and 2010, and for the period April 19, 2007 (inception) through March 31, 2013, the comprehensive loss was equal to the net loss. |
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Net loss per share |
Net loss per share Basic and diluted net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares used to compute diluted loss per share excludes any assumed exercise of stock options, and the assumed issuance of common stock under restricted stock units, shares subject to repurchase and warrants as the effect would be anti-dilutive. No dilutive effect was calculated for the three months ended March 31, 2013 or 2012, or the years ended December 31, 2012, 2011 or 2010 as the Company reported a net loss for each respective period and the effect would have been anti-dilutive. Total common stock equivalents that were excluded from computing diluted net loss per share were approximately 8.9 million, 25.8 million, 15.2 million, 6.4 million and 0 for the three months ended March 31, 2013 and 2012 and the years ended December 31, 2012, 2011 and 2010, respectively. |
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Reclassifications |
Reclassifications Certain reclassifications were made to the 2011 financial statements in order to conform to the presentation of the financial statements for 2012 and subsequent periods. The reclassifications did not have any effect on previously reported net loss or stockholders’ equity (deficit). |
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Deferred financing costs. No definition available.
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Grants receivable. No definition available.
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Nature of operations and basis of presentation. No definition available.
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Revenue recognition grant. No definition available.
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Revenue recognition research and development revenue. No definition available.
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Disclosure of accounting policy for business combinations and other business acquisition transactions not accounted for using the purchase method, such as an exchange of shares between entities under common control. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for comprehensive income. No definition available.
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Disclosure of accounting policy for depreciation, depletion, and amortization of property and equipment costs, including methods used and estimated useful lives and how impairment of such assets is assessed and recognized. No definition available.
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Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for fair value measurements, which may include, but is not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for reporting when there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date). Disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. If management's plans alleviate the substantial doubt about the entity's ability to continue as a going concern, disclosure of the principal conditions and events that initially raised the substantial doubt about the entity's ability to continue as a going concern would be expected to be considered. Disclose whether operations for the current or prior years generated sufficient cash to cover current obligations, whether waivers were obtained from creditors relating to the company's default under the provisions of debt agreements and possible effects of such conditions and events, such as: whether there is a possible need to obtain additional financing (debt or equity) or to liquidate certain holdings to offset future cash flow deficiencies. Disclose appropriate parent company information when parent is dependent upon remittances from subsidiaries to satisfy its obligations. No definition available.
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Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for revenue recognition for multiple-deliverable arrangements including, at a minimum (as applicable): (1) the nature of such arrangements, (2) the significant deliverables within the arrangements, (3) the general timing of delivery or performance of service for the deliverables within the arrangements, (4) performance-, cancellation-, termination- or refund-type provisions, (5) a discussion of the significant factors, inputs, assumptions, and methods used to determine selling price (whether vendor-specific objective evidence, third-party evidence, or estimated selling price) for the significant deliverables, (6) whether the significant deliverables in the arrangements qualify as separate units of accounting and the reasons that they do not qualify as separate units of accounting, if applicable, and (7) the general timing of revenue recognition for significant units of accounting. This element is applicable to all multiple-deliverable arrangements, including software arrangements (for example, software products, upgrades or enhancements, postcontract customer support, or services). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Disclosure of accounting policy for revenue recognition for the sale of goods, which is a transaction between an entity delivering a tangible good to a purchaser. The entity also may disclose its treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Description of Business and Summary of Significant Accounting Policies (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Description of Business and Summary of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated fair values of the liabilities measured on a recurring basis |
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Activity for liabilities measured at estimated fair value using unobservable inputs |
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fixed Assets (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Fixed Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Assets |
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Expenses (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Accrued Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Accrued Expenses |
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of the components of accrued liabilities. No definition available.
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Derivative Liability (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Derivative Liability [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assumptions used to value derivative liabilities at closing dates of the Private Placements |
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stockholders' Equity (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Stockholders' Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of the Company's restricted stock award activity |
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Summary of stock option activity |
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Fair value of employee stock options |
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Summary of warrant activity |
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Common stock reserved for future issuance |
|
X | ||||||||||
- Definition
Common stock capital shares reserved for future issuance. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future minimum rental payments required under operating leases that have initial or remaining non-cancellable lease terms in excess of one year |
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Agreement to lease certain laboratory equipment under a non-cancellable capital lease, which is included in fixed assets |
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Future minimum capital lease payments |
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Licensing Agreements and Research Contracts (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Licensing Agreements and Research Contracts [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Capitalized license fees |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Schedule of capitalized license fees. No definition available.
|
Income Taxes (Tables)
|
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Income Taxes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Net Deferred Tax Assets |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Description of Business and Summary of Significant Accounting Policies (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
---|---|---|---|---|
Estimated fair values of the liabilities measured on a recurring basis | ||||
Warrant liability | $ 1,267 | |||
Significant Other Unobservable Inputs (Level 3) [Member] | Warrant [Member]
|
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Estimated fair values of the liabilities measured on a recurring basis | ||||
Warrant liability | 6,898 | 20,619 | 1,267 | |
Fair Value, Measurements, Recurring [Member] | Warrant [Member]
|
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Estimated fair values of the liabilities measured on a recurring basis | ||||
Warrant liability | 6,898 | 20,619 | 1,267 | |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Warrant [Member]
|
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Estimated fair values of the liabilities measured on a recurring basis | ||||
Warrant liability | ||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Warrant [Member]
|
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Estimated fair values of the liabilities measured on a recurring basis | ||||
Warrant liability | ||||
Fair Value, Measurements, Recurring [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Warrant [Member]
|
||||
Estimated fair values of the liabilities measured on a recurring basis | ||||
Warrant liability | $ 6,898 | $ 20,619 | $ 1,267 |
X | ||||||||||
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Change in fair value of warrant liabilities. No definition available.
|
X | ||||||||||
- Definition
Warrant reclassified equity instruments. No definition available.
|
X | ||||||||||
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Issues that have taken place during the period in relation to liabilities measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock warrants. No definition available.
|
Description of Business and Summary of Significant Accounting Policies (Details Textual) (USD $)
|
1 Months Ended | 2 Months Ended | 3 Months Ended | 12 Months Ended | 47 Months Ended | 71 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 71 Months Ended | 1 Months Ended | 12 Months Ended | 71 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 37 Months Ended | 71 Months Ended | |||||||||||||||||||||||
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Dec. 31, 2012
|
Mar. 16, 2012
|
Feb. 29, 2012
|
Feb. 08, 2012
|
Aug. 31, 2011
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2011
|
Mar. 31, 2013
|
Feb. 07, 2012
|
Oct. 31, 2011
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2007
|
Apr. 19, 2007
|
Oct. 31, 2011
Research and Development Services [Member]
|
Mar. 31, 2013
Research and Development Services [Member]
|
Dec. 31, 2012
Research and Development Services [Member]
|
Dec. 31, 2011
Research and Development Services [Member]
|
Mar. 31, 2013
Research and Development Services [Member]
|
Dec. 31, 2010
12 month research contract agreement [Member]
|
Dec. 31, 2012
12 month research contract agreement [Member]
|
Dec. 31, 2011
12 month research contract agreement [Member]
|
Mar. 31, 2013
12 month research contract agreement [Member]
|
Mar. 31, 2013
Common Stock [Member]
|
Mar. 31, 2013
Maximum [Member]
|
Dec. 31, 2011
Maximum [Member]
|
Mar. 31, 2013
Minimum [Member]
|
Dec. 31, 2011
Minimum [Member]
|
Feb. 08, 2012
Convertible Notes Payable [Member]
|
Dec. 31, 2011
Convertible Notes Payable [Member]
|
Mar. 31, 2013
2012 Equity Incentive Plan [Member]
|
Mar. 16, 2012
Merger transition [Member]
|
Feb. 29, 2012
Merger transition [Member]
|
Feb. 08, 2012
Merger transition [Member]
|
Mar. 31, 2013
Merger transition [Member]
Private_Placement
|
Feb. 08, 2012
Outstanding Principal Assumed on Acquisition [Member]
|
Feb. 08, 2012
Accrued Interest Assumed on Acquisition [Member]
|
Mar. 31, 2013
U.S. Treasury [Member]
|
Dec. 31, 2010
U.S. Treasury [Member]
Grants
|
Mar. 31, 2013
NHLBI [Member]
|
Dec. 31, 2012
NHLBI [Member]
|
Dec. 31, 2011
NHLBI [Member]
|
Dec. 31, 2010
NHLBI [Member]
|
Dec. 31, 2012
NHLBI [Member]
Grants
|
Mar. 31, 2013
NHLBI [Member]
|
|
Description Of Business And Summary Of Significant Accounting Policies (Textual) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
Number of private placement transactions | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Convertible notes, interest rate | 20.00% | 10.00% | 8.00% | 6.00% | |||||||||||||||||||||||||||||||||||||||||||||
Total gross proceeds of approximately | $ 6,900,000 | $ 1,800,000 | $ 5,000,000 | $ 6,900,000 | $ 1,800,000 | $ 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Convertible notes converted into shares of common stock | 1,500,000 | 25,387 | |||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock | 6,553,986 | ||||||||||||||||||||||||||||||||||||||||||||||||
Maturity of highly liquid investment | 90 days | ||||||||||||||||||||||||||||||||||||||||||||||||
Deferred financing costs | 0 | 0 | 0 | 140,000 | 140,000 | 0 | 179,000 | ||||||||||||||||||||||||||||||||||||||||||
Useful life of fixed assets, range | 5 years | 2 years | |||||||||||||||||||||||||||||||||||||||||||||||
Term of research contract agreement with third party | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||
Revenue related to research contract | 97,000 | 885,000 | 239,000 | 150,000 | 450,000 | ||||||||||||||||||||||||||||||||||||||||||||
Total revenue recognized from inception on the contract | 215,000 | 120,000 | 1,197,000 | 969,000 | 603,000 | 3,063,000 | 1,221,000 | 600,000 | |||||||||||||||||||||||||||||||||||||||||
Research and development services on a fixed-fee basis | 1,365,000 | 600,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Initial payment to the Company from Agreement | 239,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Remaining payments expected to occur over | 21 months | ||||||||||||||||||||||||||||||||||||||||||||||||
Grants | 117,000 | 162,000 | 57,000 | 528,000 | 943,000 | 397,000 | 117,000 | 162,000 | 57,000 | 131,000 | 558,000 | 546,000 | |||||||||||||||||||||||||||||||||||||
Deferred revenue related to its collaborative research programs | 53,000 | 153,000 | 153,000 | 53,000 | 62,000 | 0 | 152,500 | 62,000 | |||||||||||||||||||||||||||||||||||||||||
Number of grants issued | 2 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||
Redemption to affected warrant holders | 2,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Five-year warrants to purchase shares, exercise price per share | 1.00 | 1.00 | 1.00 | 1.00 | 3.24 | 0.90 | |||||||||||||||||||||||||||||||||||||||||||
Redemption price of common stock issuable | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reclassified as equity instruments | 2,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Description of Business and Summary of Significant Accounting Policies (Additional Textual) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
Conversion ratio into common stock on merger | 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||
Other than common stock business acquisition conversion ratio | 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||
Former security holders common stock voting interest | 75.00% | ||||||||||||||||||||||||||||||||||||||||||||||||
Company's stockholders retained voting interest | 25.00% | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of convertible notes payable | 1,500,000 | 740,000 | 2,543,000 | 992,000 | 2,390,000 | 4,630,000 | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 25,387 | 25,000 | 460,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Cash transaction costs related to the Merger approximately | 2,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Equity Incentive Plan, shares | 896,256 | 896,256 | |||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 7,450,242 | 7,450,242 | |||||||||||||||||||||||||||||||||||||||||||||||
Accumulated deficit | (5,303,000) | 8,969,000 | (5,303,000) | (1,835,000) | (2,301,000) | (1,835,000) | 8,969,000 | (966,000) | (96,000) | ||||||||||||||||||||||||||||||||||||||||
Outstanding warrants to purchase | 14,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrant Amended | 0.80 | 0.80 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant Tender Offer | 9,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds of Warrants tendered | 7,700,000 | 32,743,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Redemption price of common stock issuable | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total common stock equivalents | 8,900,000 | 25,800,000 | 15,200,000 | 6,400,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Cash flow from operations | (2,755,000) | (3,556,000) | (9,693,000) | (1,914,000) | (820,000) | (15,778,000) | |||||||||||||||||||||||||||||||||||||||||||
Expiration date of Warrant Tender Offer | Dec. 21, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Additional proceeds from exercise of warrants | 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash | 88,300 | 88,300 | 88,300 | 88,300 | |||||||||||||||||||||||||||||||||||||||||||||
Restricted cash | 38,300 | 38,300 | |||||||||||||||||||||||||||||||||||||||||||||||
Additional restricted cash | 50,000 | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Inventory of finished goods | 196,000 | 196,000 | 204,000 | 204,000 | |||||||||||||||||||||||||||||||||||||||||||||
Inventory of work in process | 60,000 | 60,000 | 24,000 | 24,000 | |||||||||||||||||||||||||||||||||||||||||||||
Inventory of raw materials | 104,000 | 88,000 | 104,000 | 64,000 | 64,000 | 88,000 | |||||||||||||||||||||||||||||||||||||||||||
Obsolete inventory reserve | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Impairment of long-lived assets | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Estimated useful life of the fixed assets | The estimated useful life of the fixed assets range between two and five years. | ||||||||||||||||||||||||||||||||||||||||||||||||
Dilutive effect | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | ||||||||||||||||||||||||||||||||||||||||||||
Fee for additional research and development services | 135,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total contract value | 1,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total stock reserved for future issuance | 9,628,711 | 9,628,711 | |||||||||||||||||||||||||||||||||||||||||||||||
Recognized expenses of warrants | 1,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds received from exercise of warrants | $ 400,000 |
X | ||||||||||
- Definition
Accrued interest on convertible notes. No definition available.
|
X | ||||||||||
- Definition
Amount of warrant tender offer. No definition available.
|
X | ||||||||||
- Definition
Business acquisition, conversion ratio for common stock, options, warrants and bridge warrants. No definition available.
|
X | ||||||||||
- Definition
Cash and cash equivalents maturity period. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right amended exercise price of warrants or rights. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right induced exercise expense. No definition available.
|
X | ||||||||||
- Definition
Company's stockholders retained voting interest. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Expiration date of warrant tender offer. No definition available.
|
X | ||||||||||
- Definition
Fee for additional research and development services. No definition available.
|
X | ||||||||||
- Definition
Former security holders common stock voting interest. No definition available.
|
X | ||||||||||
- Definition
Initial payment for research and development services agreement. No definition available.
|
X | ||||||||||
- Definition
Number of grants. No definition available.
|
X | ||||||||||
- Definition
Number of private placement transactions. No definition available.
|
X | ||||||||||
- Definition
Number of shares to be exchanged for amended outstanding warrants. No definition available.
|
X | ||||||||||
- Definition
Number of warrants notice of redemption affected. No definition available.
|
X | ||||||||||
- Definition
Other than common stock business acquisition conversion ratio. No definition available.
|
X | ||||||||||
- Definition
Period remaining months for expected payment of research and development fees. No definition available.
|
X | ||||||||||
- Definition
Proceeds from exercise of other warrants. No definition available.
|
X | ||||||||||
- Definition
Redemption price per share of unexercised warrants. No definition available.
|
X | ||||||||||
- Definition
Research and development services contract value. No definition available.
|
X | ||||||||||
- Definition
Research contract agreement with third party. No definition available.
|
X | ||||||||||
- Definition
Revenue from research collaborations. No definition available.
|
X | ||||||||||
- Definition
Warrant induced exercise placement agent fees legal cost and other fees expense. No definition available.
|
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate number of common shares reserved for future issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For an unclassified balance sheet, the amount as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Such amount is before the consideration of accumulated amortization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before last-in first-out (LIFO) and valuation reserves of merchandise or goods held by the entity that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount of unprocessed items to be consumed in the manufacturing or production process. Also includes purchased parts that will be used as components of a finished product. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares issued as [noncash or part noncash] consideration for a business or asset acquired. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock warrants. No definition available.
|
X | ||||||||||
- Definition
Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Definition
The amount of compensation earned (contract income) under a research and development arrangement accounted for as a contract to perform research and development for others. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cash and investments whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. For use in an unclassified balance sheet. No definition available.
|
X | ||||||||||
- Definition
Adjustment to remove noncash portion of restructuring costs and include cash payments when calculating cash flows from operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Revenue earned during the period from non-repayable sum of money awarded to an entity to carry out a specific purpose as provided in grant agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares issued during the period as a result of an employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fixed Assets (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|---|
Fixed Assets | |||
Laboratory equipment | $ 1,168 | $ 759 | $ 345 |
Leasehold improvements | 34 | ||
Computer software and equipment | 114 | 114 | 28 |
Furniture and fixtures | 33 | 33 | 19 |
Fixed assets, gross | 1,315 | 906 | 426 |
Less accumulated depreciation and amortization | (270) | (192) | (148) |
Net | $ 1,045 | $ 714 | $ 278 |
X | ||||||||||
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of capitalized computer software costs as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount, at the balance sheet date, of long-lived, depreciable assets commonly used in offices and stores. Examples include desks, chairs, and store fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount, at the balance sheet date, of long-lived, depreciable assets that are an addition or improvement to assets held under lease arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount, as of the balance sheet date, of long-lived, depreciable assets used in the production process to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Fixed Assets (Details Textual) (USD $)
|
3 Months Ended | 12 Months Ended | 71 Months Ended | ||
---|---|---|---|---|---|
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Mar. 31, 2013
|
|
Fixed Assets (Textual) [Abstract] | |||||
Depreciation and amortization expense | $ 78,000 | $ 188,000 | $ 63,000 | $ 57,000 | $ 414,000 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Accrued Expenses (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|---|
Summary of Accrued Expenses | |||
Accrued compensation | $ 386 | $ 720 | $ 317 |
Other accrued expenses | 124 | 73 | 92 |
Deferred rent | 270 | 188 | 29 |
Total Other Income (Expense) | $ 780 | $ 981 | $ 438 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for contractual rent under lease arrangements. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivative Liability (Details) (USD $)
|
3 Months Ended | 12 Months Ended | |
---|---|---|---|
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Assumptions used to value derivative liabilities at closing dates of the Private Placements | |||
Expected volatility | 110.13% | ||
Warrant Derivative Liability [Member]
|
|||
Assumptions used to value derivative liabilities at closing dates of the Private Placements | |||
Closing price per share of common stock | $ 3.68 | $ 2.60 | |
Exercise price per share | $ 1.00 | $ 1.00 | $ 1.00 |
Expected volatility | 88.80% | 92.90% | 109.80% |
Risk-free interest rate | 0.57% | 0.54% | 0.83% |
Dividend yield | |||
Remaining expected term of underlying securities (years) | 3 years 10 months 17 days | 4 years 1 month 28 days | 5 years |
X | ||||||||||
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Agreed upon price for the exchange of the underlying asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivative Liability (Details Textual) (USD $)
In Millions, except Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Derivative Liability (Additional Textual) [Abstract] | |||||
Warrants maturity term | 5 years | ||||
Warrant [Member]
|
|||||
Derivative Liability (Textual) [Abstract] | |||||
Warrants Issued | 1,500,000 | 21,347,182 | |||
Fair value of the warrant liabilities | $ 1.3 | $ 32.7 | $ 1.3 | ||
Change in fair value of the derivative liabilities | 12.0 | 13.5 | 9.9 | 0.1 | |
Exercised derivative liabilities | 6,990,556 | 13,010,237 | |||
Estimated fair value of the outstanding warrant liabilities | $ 6.9 | $ 1.3 | $ 20.6 | $ 1.3 | |
Reclassification of warrant | 600,065 |
X | ||||||||||
- Definition
Change in fair value of derivative liability. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right issued. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right reclassification from liability instruments to equity instruments. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Duration after which warrants are exercisable. No definition available.
|
X | ||||||||||
- Definition
Exercised derivative liabilities. No definition available.
|
X | ||||||||||
- Definition
Fair value of the gross liabilities less the gross assets of a derivative liability or group of derivative liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Convertible Notes Payable (Details) (USD $)
|
1 Months Ended | 2 Months Ended | 3 Months Ended | 12 Months Ended | 47 Months Ended | 71 Months Ended | 12 Months Ended | 12 Months Ended | 2 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 2 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 29, 2012
Investment
|
Feb. 08, 2012
|
Oct. 31, 2011
|
Nov. 30, 2011
|
Aug. 31, 2011
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
Private_Placement
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2011
|
Mar. 31, 2013
|
Dec. 31, 2012
Maximum [Member]
Securities
|
Mar. 31, 2013
Maximum [Member]
|
Dec. 31, 2011
Maximum [Member]
|
Mar. 31, 2013
Minimum [Member]
|
Dec. 31, 2011
Minimum [Member]
|
Dec. 31, 2011
Common Stock [Member]
|
Nov. 30, 2011
Convertible Notes Payable [Member]
|
Sep. 18, 2011
Convertible Notes Payable [Member]
|
Dec. 31, 2011
Convertible Notes Payable [Member]
Maximum [Member]
|
Dec. 31, 2011
Convertible Notes Payable [Member]
Minimum [Member]
|
Sep. 18, 2011
Private Placement [Member]
|
Dec. 31, 2012
Private Placement [Member]
Warrant
|
Dec. 31, 2011
Private Placement [Member]
|
Mar. 31, 2013
Private Placement [Member]
|
Dec. 31, 2012
Private Placement [Member]
Common Stock [Member]
|
Nov. 30, 2011
Warrant [Member]
|
Dec. 31, 2012
Warrant [Member]
Common_Stock
|
Dec. 31, 2011
Warrant [Member]
|
Mar. 31, 2013
Warrant [Member]
Local Bridge [Member]
|
Feb. 29, 2012
Unsecured Debt [Member]
Convertible Notes Payable [Member]
|
Mar. 31, 2013
Unsecured Debt [Member]
Convertible Notes Payable [Member]
|
Dec. 31, 2011
Unsecured Debt [Member]
Convertible Notes Payable [Member]
|
|
Convertible Notes Payable (Textual) [Abstract] | ||||||||||||||||||||||||||||||||||
Convertible notes, interest rate | 20.00% | 10.00% | 8.00% | 6.00% | 6.00% | 10.00% | ||||||||||||||||||||||||||||
Funds raised through loans consisting of Convertible notes | $ 1,500,000 | $ 740,000 | $ 2,543,000 | $ 992,000 | $ 2,390,000 | $ 4,630,000 | ||||||||||||||||||||||||||||
Debt instrument maturity year range start | 2011 | |||||||||||||||||||||||||||||||||
Debt instrument maturity year range end | 2018 | |||||||||||||||||||||||||||||||||
Percentage of per share fair market value of total consideration | 75.00% | |||||||||||||||||||||||||||||||||
Warrant Discount | 583,700 | |||||||||||||||||||||||||||||||||
Debt Discount | 1,260,300 | 1,260,300 | ||||||||||||||||||||||||||||||||
Fair value of warrants | 110.13% | 109.84% | ||||||||||||||||||||||||||||||||
Dividend yield | 0.00% | 0.00% | ||||||||||||||||||||||||||||||||
Principal amount | 3,030,000 | |||||||||||||||||||||||||||||||||
Accrued interest converted | 459,800 | 459,800 | ||||||||||||||||||||||||||||||||
Accrued interest converted price range | $ 0.75 | $ 0.27 | ||||||||||||||||||||||||||||||||
Interest Expense | 65,000 | 1,088,000 | 1,088,000 | 2,067,000 | 161,000 | 3,471,000 | ||||||||||||||||||||||||||||
Common stock, shares issued | 7,676,828 | 7,676,828 | ||||||||||||||||||||||||||||||||
Purchase shares of common stock for issued warrants | 21,347,182 | 2,909,750 | 2,909,750 | 610,155 | 1,309,750 | |||||||||||||||||||||||||||||
Interest rate | 1.11% | 1.12% | ||||||||||||||||||||||||||||||||
Warrants classified as equity instruments | 527,600 | 527,600 | ||||||||||||||||||||||||||||||||
Warrants Expiration Period | 5 years | |||||||||||||||||||||||||||||||||
Warrants exercisable price, per share | 1.00 | 1.00 | 3.24 | 0.90 | 1.00 | 1.00 | ||||||||||||||||||||||||||||
Unsecured Convertible Note, outstanding | 100,000 | |||||||||||||||||||||||||||||||||
Unsecured Convertible Note, maturity date | 2014-04 | |||||||||||||||||||||||||||||||||
Convertible note and accrued interest repaid | 110,000 | |||||||||||||||||||||||||||||||||
Private placement offering, number of units of securities | 16,000,000 | 30 | ||||||||||||||||||||||||||||||||
Private placement offering, price per unit | $ 50,000 | |||||||||||||||||||||||||||||||||
Private placement offering, aggregate purchase price | 1,500,000 | |||||||||||||||||||||||||||||||||
Each unit consisted of a convertible note in the principal amount | 50,000 | |||||||||||||||||||||||||||||||||
Period of warrants | 5 years | 5 years | ||||||||||||||||||||||||||||||||
Each unit consisted of a convertible note in the principal shares | 50,000 | |||||||||||||||||||||||||||||||||
Convertible Notes issued | 1,500,000 | |||||||||||||||||||||||||||||||||
Exercise price of warrants, per share | $ 1.00 | |||||||||||||||||||||||||||||||||
Expiration of warrant | 5 years | |||||||||||||||||||||||||||||||||
Amortization of debt discount | 0 | 896,000 | 896,200 | 603,800 | 2,084,000 | |||||||||||||||||||||||||||||
Issuance of notes, recorded discount for beneficial conversion feature | 239,000 | 239,700 | ||||||||||||||||||||||||||||||||
Payment to Private placement agent | 195,000 | |||||||||||||||||||||||||||||||||
Private placement offering, number of units of securities Issued | 8,000,000 | |||||||||||||||||||||||||||||||||
Each unit of Common Stock | 1 | |||||||||||||||||||||||||||||||||
Warrant | 1 | |||||||||||||||||||||||||||||||||
Closings under the private placement | 3 | |||||||||||||||||||||||||||||||||
Proceeds under Private Placement, total net | 11,593,066 | |||||||||||||||||||||||||||||||||
Shares of Common Stock and warrants issued | 13,722,600 | |||||||||||||||||||||||||||||||||
Purchase of share of its Common Stock | 15,247,987 | |||||||||||||||||||||||||||||||||
Share issued for warrant | 1,525,387 | |||||||||||||||||||||||||||||||||
Issued warrants to placement agent for purchase of common stock | 6,099,195 | |||||||||||||||||||||||||||||||||
Maturity date of convertible Notes issued | Mar. 30, 2012 | |||||||||||||||||||||||||||||||||
Convertible Notes Payable (Additional Textual) [Abstract] | ||||||||||||||||||||||||||||||||||
Five-year warrants to purchase shares | 1,500,000 | |||||||||||||||||||||||||||||||||
Notes converted | 1,525,387 | |||||||||||||||||||||||||||||||||
Interest expense for amortization of debt discount till date | 1,500,000 | |||||||||||||||||||||||||||||||||
Derivative liabilities exceeded the proceeds, amount | 19,019,400 | |||||||||||||||||||||||||||||||||
Proceeds under Private Placement, total gross | 13,722,600 | |||||||||||||||||||||||||||||||||
Expense allowance paid to placement agent | 411,678 | |||||||||||||||||||||||||||||||||
Total cash commissions paid to placement agent and selected dealers | 1,372,260 | |||||||||||||||||||||||||||||||||
Private placement securities per unit price | 1.00 | |||||||||||||||||||||||||||||||||
Derivative liabilities estimated at fair value | $ 32,742,000 | |||||||||||||||||||||||||||||||||
Registration Rights Agreement term | 90 days | |||||||||||||||||||||||||||||||||
Monetary penalties charge on failure of Effectiveness Deadline | 0.50% | |||||||||||||||||||||||||||||||||
Penalty period | 30 days |
X | ||||||||||
- Definition
Exercise price of the warrants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amortization of debt discount premium recorded till date. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right expiration period. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right number of securities called by warrants or rights to holders of bridge notes under offering. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right number of securities called by warrants or rights under offering. No definition available.
|
X | ||||||||||
- Definition
Closings of subscription under private placement. No definition available.
|
X | ||||||||||
- Definition
Conversion price as percentage of fair market value. No definition available.
|
X | ||||||||||
- Definition
Convertible note principal amount consisted in unit. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Debt conversion accrued interest amount. No definition available.
|
X | ||||||||||
- Definition
Debt instrument maturity year range end. No definition available.
|
X | ||||||||||
- Definition
Debt instrument maturity year range start. No definition available.
|
X | ||||||||||
- Definition
Debt instruments maturity date. No definition available.
|
X | ||||||||||
- Definition
Derivative liabilities exceeded the proceeds, amount. No definition available.
|
X | ||||||||||
- Definition
Expense allowance paid to placement agent. No definition available.
|
X | ||||||||||
- Definition
Expiration of warrant. No definition available.
|
X | ||||||||||
- Definition
Gross proceeds from issuance of private placement. No definition available.
|
X | ||||||||||
- Definition
Net proceeds from issuance of private placement. No definition available.
|
X | ||||||||||
- Definition
Number of shares to be purchased for warrant. No definition available.
|
X | ||||||||||
- Definition
Penalty period. No definition available.
|
X | ||||||||||
- Definition
Private placement offering number of common stock included in each unit. No definition available.
|
X | ||||||||||
- Definition
Private placement offering number of common stock when warrant exercised included in each unit. No definition available.
|
X | ||||||||||
- Definition
Private placement offering, number of units of securities issued. No definition available.
|
X | ||||||||||
- Definition
Private placement offering securities price. No definition available.
|
X | ||||||||||
- Definition
Private placement offering securities value. No definition available.
|
X | ||||||||||
- Definition
Private placement securities price per unit. No definition available.
|
X | ||||||||||
- Definition
Registration rights agreement filing deadline. No definition available.
|
X | ||||||||||
- Definition
Registration rights agreement penalty percentage on failure to meet effectiveness deadline. No definition available.
|
X | ||||||||||
- Definition
Unit authorized under private placement. No definition available.
|
X | ||||||||||
- Definition
Warrant discount. No definition available.
|
X | ||||||||||
- Definition
Warrants issued to placement agent for purchase of common stock. No definition available.
|
X | ||||||||||
- Definition
Warrants, period. No definition available.
|
X | ||||||||||
- Definition
Warrants to purchase share of common stock. No definition available.
|
X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of the equity component of convertible debt which may be settled in cash upon conversion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of equity instruments that the holder of the debt instrument would receive if the debt was converted to equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of derivative liability, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fees and commissions from underwriting securities, private placements of securities, investment advisory and management services, merger and acquisition services, and other related consulting fees. Include fees and commissions from securities brokerage activities, from the sale and servicing of mutual funds, from the purchase and sale of securities and money market instruments where the bank is acting as agent for other banks or customers, and from the lending of securities owned by the bank or by bank customers (exclusive of trading revenue). Also includes the bank's proportionate share of the income or loss before extraordinary items and other adjustments from its investments in: unconsolidated subsidiaries, associated companies and corporate joint ventures, unincorporated joint ventures, general partnerships, and limited partnerships over which the bank exercises significant influence and that are principally engaged in investment banking, advisory, brokerage, or securities underwriting activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The fair value of notes issued in noncash investing and financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid for commissions during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
|
X | ||||||||||
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stockholders' Equity (Details)
|
3 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Summary of the Company's restricted stock award activity | ||||||
Beginning balance, Unvested, Number of Shares | 1,162,044 | 1,111,295 | 4,283,082 | 7,319,904 | 12,562,486 | |
Granted, Number of Shares | 55,000 | 1,380,000 | 61,406 | 219,369 | 130,422 | 12,627,697 |
Vested, Number of Shares | (196,612) | (1,143,735) | (3,233,193) | (3,256,191) | (5,373,004) | (65,211) |
Cancelled / forfeited, Number of Shares | (34,690) | (185,516) | ||||
Ending balance, Unvested, Number of Shares | 985,742 | 1,162,044 | 1,111,295 | 4,283,082 | 7,319,904 | 12,562,486 |
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award equity instruments other than options forfeited and expirations in period. No definition available.
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price of options that were either forfeited or expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance on stock options awarded. No definition available.
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stockholders' Equity (Details 2) (USD $)
|
3 Months Ended | 12 Months Ended | |
---|---|---|---|
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Fair value of employee stock options | |||
Dividend yield | |||
Volatility | 96.83% | 96.22% | 111.00% |
Risk-free interest rate | 1.19% | 0.89% | 1.07% |
Expected life of options | 6 years 26 days | 6 years 18 days | 5 years |
Weighted average grant date fair value | $ 3.04 | $ 1.50 | $ 0.06 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price of options that were either forfeited or expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance on stock options awarded. No definition available.
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stockholders' Equity (Details 4)
|
Mar. 31, 2013
|
---|---|
Common stock capital shares reserved for future issuance | |
Common stock reserved for future issuance | 9,628,711 |
Warrant [Member]
|
|
Common stock capital shares reserved for future issuance | |
Common stock reserved for future issuance | 4,283,889 |
Equity Incentive Plan 2008 [Member]
|
|
Common stock capital shares reserved for future issuance | |
Common stock reserved for future issuance | 672,192 |
Equity Incentive Plan 2012 [Member]
|
|
Common stock capital shares reserved for future issuance | |
Common stock reserved for future issuance | 4,672,630 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate number of common shares reserved for future issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stockholders' Equity (Details Textual) (USD $)
|
1 Months Ended | 3 Months Ended | 12 Months Ended | 71 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 48 Months Ended | 71 Months Ended | 3 Months Ended | 12 Months Ended | 71 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 48 Months Ended | 12 Months Ended | 48 Months Ended | |||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
|
Oct. 31, 2011
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Mar. 31, 2013
|
Mar. 31, 2013
Research and Development Expense [Member]
|
Dec. 31, 2012
Research and Development Expense [Member]
|
Dec. 31, 2011
Research and Development Expense [Member]
|
Dec. 31, 2010
Research and Development Expense [Member]
|
Mar. 31, 2013
General and Administrative Expense [Member]
|
Dec. 31, 2012
General and Administrative Expense [Member]
|
Dec. 31, 2011
General and Administrative Expense [Member]
|
Dec. 31, 2010
General and Administrative Expense [Member]
|
Dec. 31, 2012
Maximum [Member]
|
Mar. 31, 2013
Maximum [Member]
|
Dec. 31, 2012
Minimum [Member]
|
Mar. 31, 2013
Minimum [Member]
|
Mar. 31, 2013
Private Placement [Member]
|
Sep. 18, 2011
Private Placement [Member]
|
Mar. 31, 2013
Restricted Stock Units (RSUs) [Member]
|
Dec. 31, 2012
Restricted Stock Units (RSUs) [Member]
|
Mar. 31, 2013
Warrant [Member]
|
Dec. 31, 2012
Warrant [Member]
|
Dec. 31, 2011
Warrant [Member]
|
Dec. 31, 2012
Warrant [Member]
Maximum [Member]
|
Dec. 31, 2012
Warrant [Member]
Minimum [Member]
|
Feb. 29, 2008
Restricted Stock [Member]
|
Mar. 31, 2013
Restricted Stock [Member]
|
Dec. 31, 2012
Restricted Stock [Member]
|
Dec. 31, 2011
Restricted Stock [Member]
|
Dec. 31, 2010
Restricted Stock [Member]
|
Dec. 31, 2011
Restricted Stock [Member]
|
Mar. 31, 2013
Restricted Stock [Member]
|
Mar. 31, 2013
Stock Options [Member]
|
Dec. 31, 2012
Stock Options [Member]
|
Dec. 31, 2011
Stock Options [Member]
|
Dec. 31, 2010
Stock Options [Member]
|
Mar. 31, 2013
Stock Options [Member]
|
Mar. 31, 2013
Stock Options [Member]
Research and Development Expense [Member]
|
Dec. 31, 2012
Stock Options [Member]
Research and Development Expense [Member]
|
Dec. 31, 2011
Stock Options [Member]
Research and Development Expense [Member]
|
Dec. 31, 2010
Stock Options [Member]
Research and Development Expense [Member]
|
Mar. 31, 2013
Stock Options [Member]
General and Administrative Expense [Member]
|
Dec. 31, 2012
Stock Options [Member]
General and Administrative Expense [Member]
|
Dec. 31, 2011
Stock Options [Member]
General and Administrative Expense [Member]
|
Dec. 31, 2010
Stock Options [Member]
General and Administrative Expense [Member]
|
Dec. 31, 2012
Performance Based Restricted Stock Units (RSUs) [Member]
|
Mar. 31, 2012
Merger [Member]
|
Feb. 29, 2008
CEO and three directors [Member]
|
Dec. 31, 2012
Equity Incentive Plan 2012 [Member]
|
Jan. 31, 2012
Equity Incentive Plan 2012 [Member]
|
Apr. 30, 2012
Equity Incentive Plan 2008 [Member]
|
Mar. 31, 2013
Equity Incentive Plan 2008 [Member]
|
Dec. 31, 2012
Equity Incentive Plan 2008 [Member]
|
Oct. 12, 2011
Equity Incentive Plan 2008 [Member]
|
May 31, 2008
Equity Incentive Plan 2008 [Member]
|
Dec. 31, 2011
Equity Incentive Plan 2008 [Member]
Restricted Stock [Member]
|
Dec. 31, 2012
Equity Incentive Plan 2008 [Member]
Stock Options [Member]
|
Oct. 12, 2011
Equity Incentive Plan 2008 [Member]
Stock Options [Member]
|
Dec. 31, 2011
Other Plan [Member]
Restricted Stock [Member]
|
Dec. 31, 2012
Agreement with Consultant for Services [Member]
|
|
Stockholders' Equity (Textual) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares issued | 58,535,411 | 64,686,919 | 58,535,411 | 22,445,254 | 64,686,919 | 6,131,198 | 13,423,622 | 21,247,987 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercise | 7,090,556 | 13,532,487 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued | 224,064 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock restricted issued number of founder | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted common stock to founders | 11,779,960 | 1,258,934 | 1,086,662 | 172,272 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted stock vesting conditions | 25% vesting after the first year and the remaining 75% vesting in equal quarterly portions over the following three years | A quarter of which will vest on the one year anniversary of employment, in May 2012, and the remaining options are vesting ratably over the remaining 36 month term | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of restricted common stock vesting After one year | 25.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of restricted common stock vesting over three year | 75.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Option Granted, Quarterly Vesting Restricted Term | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common shares authorized to be issued | 7,450,242 | 7,450,242 | 6,553,986 | 1,521,584 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued during the year | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Termination date of Equity Incentive Plan | Jul. 01, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Termination date of Equity Incentive Plan, Description | 10 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options granted under 2008 equity incentive plan | 927,981 | 2,023,394 | 896,256 | 21,997,182 | 2,909,750 | 55,000 | 200,000 | 950,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of vesting schedule | 25.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period for vesting schedule over start date | 4 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted stock cancelled | 34,690 | 185,516 | 34,690 | 185,516 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock returned by holders | 24,690 | 148,016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted stock units vested during the period | 196,612 | 1,143,735 | 3,233,193 | 3,256,191 | 5,373,004 | 65,211 | 50,000 | 211,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option granted with immediate vesting | 24,690 | 83,986 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional restricted stock Units were forfeited by one staff member upon termination | 10,000 | 37,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrecognized stock-based compensation expense | $ 1,300,000 | $ 1,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Incentive Plan, shares | 896,256 | 896,256 | 896,256 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Remaining options vest | 36 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuances of common stock from stock option exercise, Shares | 927,981 | 224,064 | 7,090,556 | 13,532,487 | 2,023,394 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total employee stock-based compensation recorded as operating expenses | 4,000 | 23,000 | 0 | 0 | 474,000 | 812,000 | 3,000 | 4,000 | 478,000 | 835,000 | 3,000 | 4,000 | 1,324,000 | 370,000 | 600,000 | 6,000 | 0 | 976,000 | 58,000 | 81,000 | 0 | 0 | 312,000 | 519,000 | 6,000 | 0 | ||||||||||||||||||||||||||||||||||||||||
Research and development expenses | 1,448,000 | 547,000 | 3,436,000 | 1,420,000 | 1,203,000 | 8,082,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative expense | 2,792,000 | 902,000 | 7,080,000 | 1,733,000 | 578,000 | 12,539,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted stock forfeitures, shares | 24,690 | 83,986 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Option Granted, Restricted portion | 124,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrecognized stock-based compensation expense recognition maximum weighted average period | 2 years 5 months 1 day | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted incentive stock options to purchase shares of Common stock, exercise price | $ 0.08 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total unrecognized compensation cost related to unvested stock option grants, weighted average period | 3 years 6 months 0 days | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase shares of common stock for issued warrants | 21,347,182 | 21,347,182 | 2,909,750 | 610,155 | 650,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated fair value of warrants | 890,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Life of warrants | 5 years | 2 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Volatility rate | 96.83% | 96.22% | 111.00% | 103.80% | 79.80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk free factor | 1.19% | 0.89% | 1.07% | 0.63% | 0.24% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable price, per share | 1.00 | 1.00 | 1.00 | 3.24 | 0.90 | 1.00 | 1.00 | 3.24 | 1.70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants before amendment | 1.00 | 1.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants after amendment | 0.90 | 0.90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issue of common stock shares | 58,220 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance restricted Common stock to certain employees, advisors and consultants | 55,000 | 1,380,000 | 61,406 | 219,369 | 130,422 | 12,627,697 | 230,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average remaining contractual term of options exercisable | 9 years 6 months 0 days | 3 years 10 months 17 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | 65,000 | 1,088,000 | 1,088,000 | 2,067,000 | 161,000 | 3,471,000 | 65,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity (Additional Textual) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for conversion | 7,676,828 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Notes principal balance | 3,030,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest converted | 459,800 | 459,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock exercised warrants | 224,064 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average remaining contractual term of options outstanding | 9 years 3 months 29 days | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total unrecognized compensation cost related to unvested stock option grants | 4,926,000 | 4,926,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrant exercised | 13,259,987 | 3,852,214 | 13,259,987 | 0 | 3,852,214 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cashless exercise for issuance of common stock | 163,635 | 2,220,764 | 163,635 | 2,220,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding warrants to purchase | 14,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrant Amended | 0.80 | 0.80 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant proceeds | 9,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate proceeds of Warrants tendered | 7,700,000 | 32,743,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized expenses of warrants | 1,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds received from exercise of warrants | 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised cash proceeds | 3,850,000 | 11,356,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrant exercised through cashless | 3,138,342 | 272,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price earned period | 6 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized expenses of warrants | 556,000 | 261,000 | 556,000 | 261,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised derivative liabilities | 6,990,556 | 13,010,237 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company amendment agreement term year | 5 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cashless exercise of warrants | 100,000 | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Research and development expenses | 1,448,000 | 547,000 | 3,436,000 | 1,420,000 | 1,203,000 | 8,082,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative expense | $ 2,792,000 | $ 902,000 | $ 7,080,000 | $ 1,733,000 | $ 578,000 | $ 12,539,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 600,065 | 600,065 |
X | ||||||||||
- Definition
Amount of warrant tender offer. No definition available.
|
X | ||||||||||
- Definition
Cashless exercise for issuance of common stock. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right amended exercise price of warrants or rights. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right exercised. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right exercise period of warrants or rights. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right exercise price of warrants after amendment. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right exercise price of warrants before amendment. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right induced exercise expense. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right life. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right number of warrants exercised. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right number of warrants exercised value. No definition available.
|
X | ||||||||||
- Definition
Common stock exercise. No definition available.
|
X | ||||||||||
- Definition
Common stock restricted issued number of founders. No definition available.
|
X | ||||||||||
- Definition
Debt conversion accrued interest amount. No definition available.
|
X | ||||||||||
- Definition
Number of shares to be exchanged for amended outstanding warrants. No definition available.
|
X | ||||||||||
- Definition
Number of warrants exercised. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award equity instruments other than options forfeited and expirations in period. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award equity instruments other than options forfeited and expirations in period upon termination. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award expiration period. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award options granted restricted portion. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award options grants in period upon return of common shares. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award percentage option vested. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award quarterly award vesting rights restricted. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award vesting right remaining portion quarterly vesting percentage. No definition available.
|
X | ||||||||||
- Definition
Share based compensation arrangement by share based payment award, award vesting rights one year percentage. No definition available.
|
X | ||||||||||
- Definition
Share based compensation shares authorized under stock option plans exercise price range exercise price. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Stock issued during period shares cashless exercise of warrants. No definition available.
|
X | ||||||||||
- Definition
Stock issued during period shares stock options exercised price remaining period. No definition available.
|
X | ||||||||||
- Definition
Warrant earning period through issuance of common stock. No definition available.
|
X | ||||||||||
- Definition
Warrant induced exercise placement agent fees legal cost and other fees expense. No definition available.
|
X | ||||||||||
- Definition
Warrant or right expense or revenue recognized. No definition available.
|
X | ||||||||||
- Definition
Warrants cashless exercise number. No definition available.
|
X | ||||||||||
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate amount of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of warrants or rights which entitle the entity to receive future services in exchange for the unvested, forfeitable warrants or rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate unrecognized cost of share-based awards, other than options, made to employees under an equity-based compensation plan, that have yet to vest. No definition available.
|
X | ||||||||||
- Definition
Aggregate unrecognized cost of option awards made to employees under a stock option plan or plans, that have yet to vest. No definition available.
|
X | ||||||||||
- Definition
Adjustment to the amount at which an orderly transaction to transfer instruments that are classified in shareholders' equity would take place between market participants. No definition available.
|
X | ||||||||||
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of award terms as to how many shares or portion of an award are no longer contingent on satisfaction of either a service condition, market condition or a performance condition, thereby giving the employee the legal right to convert the award to shares, to sell the shares, and be entitled to the cash proceeds of such sale. For example, vesting may be expressed as being 25 percent of the shares under option on each anniversary of the grant date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the equity-based award expires, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of share instruments newly issued under a share-based compensation plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For net-share settlement of share-based awards when the employer settles employees' income tax withholding obligations, this element represents the number of shares the employees use to repay the employer. No definition available.
|
X | ||||||||||
- Definition
Number of shares issued during the period as a result of the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP). Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. No definition available.
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Commitments and Contingencies (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
---|---|
Future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year | |
Fiscal year ended March 31, 2014 | $ 479 |
Fiscal year ended March 31, 2015 | 493 |
Fiscal year ended March 31, 2016 | 506 |
Fiscal year ended March 31, 2017 | 170 |
Fiscal year ended March 31, 2018 | |
Total | $ 1,648 |
X | ||||||||||
- Definition
Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments maturing in the fifth rolling twelve months following the latest balance sheet presented for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. No definition available.
|
X | ||||||||||
- Definition
Amount of required minimum rental payments maturing in the forth rolling twelve months following the latest balance sheet presented for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. No definition available.
|
X | ||||||||||
- Definition
Amount of required minimum rental payments maturing in the third rolling twelve months following the latest balance sheet presented for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. No definition available.
|
X | ||||||||||
- Definition
Amount of required minimum rental payments maturing in the second rolling twelve months following the latest balance sheet presented for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. No definition available.
|
X | ||||||||||
- Definition
Amount of required minimum rental payments maturing in the next rolling twelve months following the latest balance sheet presented for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. No definition available.
|
X | ||||||||||
- Details
|
Commitments and Contingencies (Details 1) (Equipment [Member], USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
---|---|
Equipment [Member]
|
|
Agreement to lease certain laboratory equipment under a non-cancelable capital lease, which is included in fixed assets | |
Lab equipment | $ 34 |
Less accumulated depreciation | (4) |
Net book value | $ 30 |
X | ||||||||||
- Definition
Property, plant, or equipment held under lease agreements classified as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total gross amount less the charge for the use of the long-lived depreciable assets subject to a lease meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The total charge for the use of long-lived depreciable assets subject to a lease meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Commitments and Contingencies (Details 2) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
---|---|---|
Future minimum capital lease payments | ||
Fiscal year ended March 31, 2014 | $ 11 | |
Fiscal year ended March 31, 2015 | 11 | |
Fiscal year ended March 31, 2016 | 4 | |
Total minimum lease payments | 26 | |
Amount representing interest | (1) | |
Present value of minimum lease payments | 25 | |
Less current portion | (10) | (10) |
Long term portion | $ 15 | $ 17 |
X | ||||||||||
- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid within one year (or one operating cycle, if longer) of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of minimum lease payments for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of minimum lease payments maturing in the next fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of minimum lease payments maturing in the third fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of minimum lease payments maturing in the second fiscal year following the latest fiscal year for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount necessary to reduce net minimum lease payments to present value for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Present value of minimum lease payments for capital leases net of executory costs, including amounts paid by the lessee to the lessor for insurance, maintenance and taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Commitments and Contingencies (Details Textual) (USD $)
|
3 Months Ended | 12 Months Ended | 71 Months Ended | |||
---|---|---|---|---|---|---|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Mar. 31, 2013
|
|
Commitments and Contingencies (Textual) [Abstract] | ||||||
Rent expense | $ 105,500 | $ 60,200 | $ 325,600 | $ 145,200 | $ 107,500 | $ 755,700 |
Base rent under the lease | 38,800 | 38,800 | ||||
Base rent escalators | 3.00% | 3.00% | ||||
Lease term with option to extend | 48 months | |||||
Depreciation Expense | $ 1,700 | $ 2,900 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Lease term with an option to extend the lease at the end of the lease term. No definition available.
|
X | ||||||||||
- Definition
The charge for the use of long-lived depreciable capital leased assets for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. No definition available.
|
X | ||||||||||
- Definition
Amount of required minimum rental payments maturing in the next fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage points added to the reference rate to compute the variable rate on the lessee's operating lease. No definition available.
|
Licensing Agreements and Research Contracts (Details) (Licensing Agreements [Member], USD $)
|
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|---|
Licensing Agreements [Member]
|
|||
Schedule of Capitalized license fees | |||
License fees | $ 114,000 | $ 95,000 | $ 95,000 |
Less accumulated amortization | (17,000) | (15,000) | (8,000) |
License fees, net | $ 97,000 | $ 80,000 | $ 87,000 |
X | ||||||||||
- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Licensing Agreements and Research Contracts (Details Textual) (USD $)
|
12 Months Ended | 3 Months Ended | 12 Months Ended | 71 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Mar. 31, 2013
|
Mar. 31, 2013
Licensing Agreements [Member]
|
Dec. 31, 2012
Licensing Agreements [Member]
|
Dec. 31, 2011
Licensing Agreements [Member]
|
Mar. 31, 2013
Licensing Agreements [Member]
|
Mar. 31, 2010
University of Missouri [Member]
|
Mar. 31, 2009
University of Missouri [Member]
|
Mar. 31, 2013
University of Missouri [Member]
|
Dec. 31, 2012
University of Missouri [Member]
|
Dec. 31, 2011
University of Missouri [Member]
|
Mar. 12, 2010
University of Missouri [Member]
|
Mar. 24, 2009
University of Missouri [Member]
|
May 31, 2011
Clemson University [Member]
Licensing Agreements [Member]
|
May 31, 2011
Clemson University [Member]
Licensing Agreements [Member]
Maximum [Member]
|
May 31, 2011
Clemson University [Member]
Licensing Agreements [Member]
Minimum [Member]
|
Feb. 28, 2013
Becton Dickinson [Member]
|
May 02, 2011
Other Assets [Member]
Clemson University [Member]
Licensing Agreements [Member]
|
|
Licensing Agreements and Research Contracts (Textual) [Abstract] | ||||||||||||||||||
License Costs | $ 5,000 | $ 25,000 | $ 32,500 | |||||||||||||||
Royalty fees percentage minimum | 1.00% | 1.00% | 1.50% | |||||||||||||||
Royalty fees percentage maximum | 3.00% | 3.00% | 3.00% | |||||||||||||||
Minimum annual royalty | 5,000 | 25,000 | 40,000 | 20,000 | ||||||||||||||
Expected expiration year of license agreement | 2029 | |||||||||||||||||
Other Assets amortized | 97,000 | 80,000 | 87,000 | 97,000 | 5,000 | 25,000 | 65,000 | |||||||||||
Additional royalty | 12,500 | |||||||||||||||||
Additional license fee to reimburse future patent costs | 32,500 | |||||||||||||||||
Expected expiration year of license agreement | 2024-05 | |||||||||||||||||
Prior patent costs relating to the license agreements | 0 | 193,500 | 23,800 | |||||||||||||||
Payments to purchase exclusive rights to intellectual property | 18,500 | |||||||||||||||||
Royalty Expense | 0 | |||||||||||||||||
Amortization expense of licenses | 1,500 | 2,000 | 7,000 | 5,200 | 16,700 | |||||||||||||
Weighted average remaining amortization period for all licenses | 12 years | |||||||||||||||||
Annual amortization expense of licenses year 1 | 8,500 | 8,500 | ||||||||||||||||
Annual amortization expense of licenses year 2 | 8,500 | 8,500 | ||||||||||||||||
Annual amortization expense of licenses year 3 | 8,500 | 8,500 | ||||||||||||||||
Annual amortization expense of licenses year 4 | 8,500 | 8,500 | ||||||||||||||||
Annual amortization expense of licenses year 5 | 8,500 | 8,500 | ||||||||||||||||
Licensing Agreements and Research Contracts (Additional Textual) [Abstract] | ||||||||||||||||||
Initial royalty payment due | 4,000 | |||||||||||||||||
Annual royalty payment due | $ 25,000 |
X | ||||||||||
- Definition
Intellectual property right fees. No definition available.
|
X | ||||||||||
- Definition
License agreement expiration month. No definition available.
|
X | ||||||||||
- Definition
License agreement expiration year start. No definition available.
|
X | ||||||||||
- Definition
License costs for reimbursement of prior and future patent costs. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Prior patent costs relating to the license agreements. No definition available.
|
X | ||||||||||
- Definition
Royalty fees percentage maximum. No definition available.
|
X | ||||||||||
- Definition
Royalty fees percentage minimum. No definition available.
|
X | ||||||||||
- Definition
Royalty payable annual amount. No definition available.
|
X | ||||||||||
- Definition
Royalty payable if sales not achieved with five years of effective license date. No definition available.
|
X | ||||||||||
- Definition
Royalty payments under license agreement due next year. No definition available.
|
X | ||||||||||
- Definition
Royalty payments under license agreement due year two. No definition available.
|
X | ||||||||||
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of amortization expense expected to be recognized in the next rolling twelve months following the latest balance sheet presented for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
|
X | ||||||||||
- Definition
Amount of amortization expense expected to be recognized in the fifth rolling twelve months following the latest balance sheet presented for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
|
X | ||||||||||
- Definition
Amount of amortization expense expected to be recognized in the fourth rolling twelve months following the latest balance sheet presented for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
|
X | ||||||||||
- Definition
Amount of amortization expense expected to be recognized in the third rolling twelve months following the latest balance sheet presented for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
|
X | ||||||||||
- Definition
Amount of amortization expense expected to be recognized in the second rolling twelve months following the latest balance sheet presented for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
|
X | ||||||||||
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average period before the next renewal or extension (both explicit and implicit) for intangible assets that have been renewed or extended, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Costs incurred and are directly related to generating license revenue. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|---|
Deferred tax assets: | |||
Net operating loss carry forwards | $ 1,620 | ||
Research and development credits | 190 | ||
Depreciation and amortization | (1) | (2) | 8 |
Accrued expense and reserves | 224 | 290 | 107 |
Stock compensation | 743 | 562 | |
Other, net | 1 | ||
Total deferred tax assets | 967 | 850 | 1,925 |
Valuation allowance | (967) | (850) | (1,925) |
Deferred tax assets net |
X | ||||||||||
- Definition
Deferred tax assets depreciation and amortization. No definition available.
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from in-process research and development costs expensed in connection with a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from reserves and accruals. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from other reserves and accruals not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes (Details Textual) (USD $)
|
3 Months Ended | 12 Months Ended | |
---|---|---|---|
Mar. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Income Taxes (Textual) [Abstract] | |||
Increase/Decrease in valuation allowance | $ 117,000 | $ (1,075,000) | |
Federal and state net operating loss carryforwards expiring year | 2028 | ||
Federal research tax credit carryforwards expiration period | 2028 | ||
Accruals for income tax accounting uncertainties | 0 | 0 | 0 |
Accrued expense regarding interest or penalties | 0 | 0 | 0 |
State net operating loss carryforwards | 15,378,000 | ||
Federal net operating loss carryforwards | 15,382,000 | ||
Federal [Member]
|
|||
Operating Loss Carryforwards [Line Items] | |||
Research tax credit carryforwards | 292,000 | ||
State [Member]
|
|||
Operating Loss Carryforwards [Line Items] | |||
Research tax credit carryforwards | $ 308,000 |
X | ||||||||||
- Definition
Federal and state net operating loss carry forwards expiration year start. No definition available.
|
X | ||||||||||
- Definition
Federal research tax credit carry forwards expiration year start. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible domestic operating loss carryforwards. Excludes state and local operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible state and local operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible research tax credit carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the total of accruals as of the date of the statement of financial position for interest recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity and the amount of statutory penalties for a tax position claimed or expected to be claimed by the entity, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the change in the period in the valuation allowance for a specified deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Subsequent Events (Details Textual)
|
3 Months Ended |
---|---|
Mar. 31, 2013
|
|
Subsequent Events (Textual) [Abstract] | |
Warrants to purchase common stock | 600,065 |
Exercise price of warrants before amendment | 1.00 |
Exercise price of warrants after amendment | 0.90 |
Subsequent Event [Member]
|
|
Subsequent Events (Textual) [Abstract] | |
Warrants to purchase common stock | 269,657 |
Exercise price of warrants before amendment | 1.00 |
Exercise price of warrants after amendment | 0.85 |
Extended exercise period | 5 years |
X | ||||||||||
- Definition
Class of warrant or right exercise price of warrants after amendment. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right exercise price of warrants before amendment. No definition available.
|
X | ||||||||||
- Definition
Class of warrant or right extended exercise period of warrants or rights. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate amount of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|