2013 Q4 Form 10-Q Financial Statement
#000119312514047202 Filed on February 12, 2014
Income Statement
Concept | 2013 Q4 | 2012 Q4 |
---|---|---|
Revenue | $592.0K | $585.0K |
YoY Change | 1.2% | -7.14% |
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $1.710M | $1.660M |
YoY Change | 3.01% | 14.48% |
% of Gross Profit | ||
Research & Development | $2.494M | $1.575M |
YoY Change | 58.35% | -20.93% |
% of Gross Profit | ||
Depreciation & Amortization | $230.0K | $250.0K |
YoY Change | -8.0% | -71.26% |
% of Gross Profit | ||
Operating Expenses | $4.133M | $3.233M |
YoY Change | 27.84% | -82.31% |
Operating Profit | -$3.541M | -$2.648M |
YoY Change | 33.72% | -84.99% |
Interest Expense | $0.00 | $0.00 |
YoY Change | -100.0% | |
% of Operating Profit | ||
Other Income/Expense, Net | $1.000K | $3.000K |
YoY Change | -66.67% | -97.84% |
Pretax Income | -$3.540M | -$2.645M |
YoY Change | 33.84% | -84.89% |
Income Tax | -$26.00K | -$37.00K |
% Of Pretax Income | ||
Net Earnings | -$3.514M | -$2.608M |
YoY Change | 34.74% | -85.06% |
Net Earnings / Revenue | -593.58% | -445.81% |
Basic Earnings Per Share | -$0.13 | |
Diluted Earnings Per Share | -$0.13 | -$1.120M |
COMMON SHARES | ||
Basic Shares Outstanding | 26.95M shares | 23.30M shares |
Diluted Shares Outstanding | 26.95M shares |
Balance Sheet
Concept | 2013 Q4 | 2012 Q4 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $15.70M | $15.70M |
YoY Change | 0.0% | -16.04% |
Cash & Equivalents | $15.22M | $9.409M |
Short-Term Investments | $500.0K | $6.300M |
Other Short-Term Assets | $900.0K | $100.0K |
YoY Change | 800.0% | -50.0% |
Inventory | ||
Prepaid Expenses | ||
Receivables | $600.0K | $900.0K |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $17.23M | $16.81M |
YoY Change | 2.51% | -15.53% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $133.0K | $277.0K |
YoY Change | -51.99% | -30.75% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $300.0K | $100.0K |
YoY Change | 200.0% | 0.0% |
Total Long-Term Assets | $3.587M | $4.232M |
YoY Change | -15.24% | -15.36% |
TOTAL ASSETS | ||
Total Short-Term Assets | $17.23M | $16.81M |
Total Long-Term Assets | $3.587M | $4.232M |
Total Assets | $20.82M | $21.04M |
YoY Change | -1.06% | -15.49% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $176.0K | $215.0K |
YoY Change | -18.14% | -28.33% |
Accrued Expenses | $1.204M | $1.084M |
YoY Change | 11.07% | 54.86% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $2.151M | $2.083M |
YoY Change | 3.26% | -19.88% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $6.100M | $5.100M |
YoY Change | 19.61% | 13.33% |
Total Long-Term Liabilities | $6.100M | $5.100M |
YoY Change | 19.61% | 13.33% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $2.151M | $2.083M |
Total Long-Term Liabilities | $6.100M | $5.100M |
Total Liabilities | $8.220M | $7.232M |
YoY Change | 13.66% | 0.44% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$270.9M | -$256.9M |
YoY Change | 5.43% | |
Common Stock | $27.00K | $23.00K |
YoY Change | 17.39% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $12.60M | $13.81M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $20.82M | $21.04M |
YoY Change | -1.06% | -15.49% |
Cashflow Statement
Concept | 2013 Q4 | 2012 Q4 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$3.514M | -$2.608M |
YoY Change | 34.74% | -85.06% |
Depreciation, Depletion And Amortization | $230.0K | $250.0K |
YoY Change | -8.0% | -71.26% |
Cash From Operating Activities | -$2.250M | -$1.780M |
YoY Change | 26.4% | -24.58% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$10.00K | -$40.00K |
YoY Change | -75.0% | -75.0% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $1.320M | $2.900M |
YoY Change | -54.48% | 158.93% |
Cash From Investing Activities | $1.310M | $2.870M |
YoY Change | -54.36% | 198.96% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 1.620M | -70.00K |
YoY Change | -2414.29% | |
NET CHANGE | ||
Cash From Operating Activities | -2.250M | -1.780M |
Cash From Investing Activities | 1.310M | 2.870M |
Cash From Financing Activities | 1.620M | -70.00K |
Net Change In Cash | 680.0K | 1.020M |
YoY Change | -33.33% | -172.86% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$2.250M | -$1.780M |
Capital Expenditures | -$10.00K | -$40.00K |
Free Cash Flow | -$2.240M | -$1.740M |
YoY Change | 28.74% | -20.91% |
Facts In Submission
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Share Price
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Accumulated Other Comprehensive Income Loss Net Of Tax
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Unrecognized Tax Benefits
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|
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Noncash Or Part Noncash Unpaid Stock Issuance Costs
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dei |
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pSivida Corp. | ||
dei |
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Entity Filer Category
EntityFilerCategory
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Document Fiscal Year Focus
DocumentFiscalYearFocus
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2014 | ||
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Document Type
DocumentType
|
10-Q | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2013-12-31 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001314102 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--06-30 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
us-gaap |
Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
|
P4Y | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.94 | pure | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>1.</b></td> <td valign="top" align="left"><b>Operations and Basis of Presentation</b></td> </tr> </table> <!-- xbrl,body --> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The accompanying condensed consolidated financial statements of pSivida Corp. and subsidiaries (the “Company”) as of December 31, 2013 and for the three and six months ended December 31, 2013 and 2012 are unaudited. Certain information in the footnote disclosures of these financial statements has been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in its Annual Report on Form 10-K for the fiscal year ended June 30, 2013. In the opinion of management, these statements have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended June 30, 2013, and include all adjustments, consisting only of normal recurring adjustments, that are necessary for the fair presentation of the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods indicated. The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make assumptions and estimates that affect, among other things, (i) reported amounts of assets and liabilities; (ii) disclosure of contingent assets and liabilities at the date of the consolidated financial statements; and (iii) reported amounts of revenues and expenses during the reporting period. The results of operations for the three and six months ended December 31, 2013 are not necessarily indicative of the results that may be expected for the entire fiscal year or any future period.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company develops tiny, sustained-release products designed to deliver drugs and biologics at a controlled and steady rate for weeks, months or years. Using its core technology platforms, Durasert™ and BioSilicon™, the Company is focused on treatment of chronic diseases of the back of the eye and is also exploring applications outside ophthalmology. The Company has developed three of the four sustained-release products for treatment of retinal diseases that have been approved in the U.S. or European Union (“EU”), and its lead development product began a Phase III clinical trial in the quarter ended June 2013. The Company’s strategy includes developing products independently while continuing to leverage its technology platforms through collaborations and license agreements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> ILUVIEN®, the Company’s most recently approved product, is an injectable, sustained-release micro-insert that provides treatment over a period of up to three years of vision impairment associated with chronic diabetic macular edema (“DME”) considered insufficiently responsive to available therapies. ILUVIEN is licensed to Alimera Sciences, Inc. (“Alimera”), and the Company is entitled to a share of the net profits (as defined) from Alimera’s sales of ILUVIEN for DME. Alimera commenced the commercial launch of ILUVIEN for DME in the U.K. and Germany in 2013 and expects to launch in France in 2014. In November 2013, the U.K.’s National Institute for Health and Care Excellence (“NICE”) recommended ILUVIEN as a treatment option for pseudophakic patients (those who have had cataract surgery), subject to a patient access scheme, and in January 2014 Alimera commenced shipments of initial orders for ILUVIEN to U.K. National Health Service (“NHS”) facilities. ILUVIEN has also received marketing authorization in Austria, Portugal and Spain and has been recommended for authorization in Italy. In addition, Alimera has filed for ten additional EU country approvals.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In an October 2013 third Complete Response Letter (“CRL”), the U.S. Food and Drug Administration (“FDA”) identified concerns regarding the benefit to risk and safety profiles of ILUVIEN for DME and stated that the New Drug Application (“NDA”) could not be approved in its present form. In December 2013, Alimera announced that it had entered into labeling discussions with the FDA. Alimera plans to respond to the CRL in the first quarter of 2014 and provide a safety update on ILUVIEN, including data from ILUVIEN patients and from physician experience with the applicator in the U.K. and Germany. The FDA has indicated that new clinical trials will not be required in connection with the FDA’s review of ILUVIEN for DME prior to any approval. Alimera also intends to address concerns the FDA raised in the CRL regarding the facility at which ILUVIEN is manufactured. FDA approval of ILUVIEN for DME would entitle the Company to a $25.0 million milestone payment.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Medidur™, the Company’s lead development product, commenced the first of two planned pivotal Phase III clinical trials for the treatment of chronic non-infectious uveitis affecting the posterior of the eye (“posterior uveitis”) in the quarter ended June 2013. Medidur uses the same Durasert micro-insert used in ILUVIEN and delivers a lower dose of the same drug as the Company’s FDA-approved Retisert® for posterior uveitis. The Company is developing Medidur independently.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">  </p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> Retisert, which provides sustained release treatment of posterior uveitis for approximately two and a half years, is licensed to and sold by Bausch & Lomb.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company is engaged in pre-clinical research with respect to its BioSilicon and Durasert technology platforms. The primary focus of the BioSilicon technology research is the use of Tethadur™ for the sustained delivery of peptides, proteins, antibodies and other large biologic molecules in both ophthalmic and non-ophthalmic applications. The Company’s research program also includes the use of Durasert technology in orthopedic applications and for systemic delivery of therapeutic agents.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company is also developing a bioerodible, injectable micro-insert delivering latanoprost (the “Latanoprost Product”) to treat glaucoma and ocular hypertension. Under an amended collaboration agreement, Pfizer Inc. (“Pfizer”) has an option, under certain circumstances, to license the development and commercialization of the Latanoprost Product worldwide.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company has a history of operating losses and has financed its operations primarily from the proceeds of sales of its equity securities and the receipt of license fees, research and development funding, royalties and contingent cash payments from its collaboration partners. The Company believes that its cash, cash equivalents and marketable securities of $15.7 million at December 31, 2013, together with expected Retisert royalty income and other expected cash inflows under existing collaboration and technology evaluation agreements, will enable the Company to maintain its current and planned operations through the first quarter of calendar year 2015. This includes expected costs through that date of Phase III clinical trials of Medidur, but excludes any potential milestone or net profits receipts under the Alimera collaboration agreement. The Company’s ability to fund its planned operations beyond then, including completion of Phase III trials of Medidur, is expected to depend on the amount and timing of cash receipts under existing collaboration agreements, as well as any future collaboration or other agreements and/or financing transactions.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> References to “$” are to U.S. dollars and references to “A$” are to Australian dollars.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> New accounting pronouncements are issued periodically by the Financial Accounting Standards Board (“FASB”) and are adopted by the Company as of the specified effective dates. Unless otherwise disclosed below, the Company believes that the impact of recently issued pronouncements will not have a material impact on the Company’s financial position, results of operations and cash flows or do not apply to the Company’s operations.</p> </div> | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0170 | pure | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
26435000 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.00 | pure | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-6034000 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.27 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
0.96 | pure | |
us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2014-04-05 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5288054 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
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0.0199 | pure | |
us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
-697000 | ||
us-gaap |
Revenues
Revenues
|
1189000 | ||
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-7106000 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-7257000 | ||
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
72000 | ||
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
0 | ||
us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
|||
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
|||
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
457000 | ||
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2000 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7259000 | ||
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
95000 | ||
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
2000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-7201000 | ||
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
95000 | ||
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
522000 | ||
us-gaap |
Royalty Revenue
RoyaltyRevenue
|
716000 | ||
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
11026000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
21000 | ||
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
150000 | ||
us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
473000 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3522000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
11601000 | ||
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
850000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
522000 | ||
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
8320000 | ||
us-gaap |
Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
|
-1308000 | ||
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
72000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
2751000 | ||
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4998000 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
457000 | ||
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
386000 | ||
us-gaap |
Depreciation
Depreciation
|
68000 | ||
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
522000 | ||
us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
2850000 | ||
us-gaap |
Operating Expenses
OperatingExpenses
|
8448000 | ||
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
24000 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-56000 | ||
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
2000 | ||
psdv |
Milestone Payment Due Upon Approval By Fda
MilestonePaymentDueUponApprovalByFda
|
25000000 | ||
psdv |
Noncash Or Part Noncash Unpaid Property Plant Equipment And Other Assets
NoncashOrPartNoncashUnpaidPropertyPlantEquipmentAndOtherAssets
|
|||
psdv |
Lease Commencement Date
LeaseCommencementDate
|
March 1, 2014 | ||
psdv |
Class Of Warrant Or Right Period From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRightPeriodFromWhichWarrantsOrRightsExercisable
|
2013-02 | ||
psdv |
Marketable Securities Weighted Average Maturity
MarketableSecuritiesWeightedAverageMaturity
|
P1M | ||
psdv |
Proceeds From Issuance Of Common Stock Net Of Share Issue Costs
ProceedsFromIssuanceOfCommonStockNetOfShareIssueCosts
|
11144000 | ||
psdv |
Noncash Or Part Noncash Unpaid Stock Issuance Costs
NoncashOrPartNoncashUnpaidStockIssuanceCosts
|
118000 | ||
CY2013Q4 | us-gaap |
Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
|
P5Y | |
CY2013Q4 | us-gaap |
Lessee Leasing Arrangements Operating Leases Renewal Term
LesseeLeasingArrangementsOperatingLeasesRenewalTerm
|
P5Y | |
CY2013Q4 | psdv |
Lease Property Area Covered
LeasePropertyAreaCovered
|
13650 | sqft |
CY2013Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
3494550 | shares |
CY2013Q3 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
890000 | |
CY2013Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
10800000 | |
CY2012Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
2494419 | shares |
CY2012Q3 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
700000 | |
CY2012Q3 | psdv |
Percentage Of Shares Of Common Stock Issued Under Terms Of Warrant Transactions
PercentageOfSharesOfCommonStockIssuedUnderTermsOfWarrantTransactions
|
0.25 | pure |
CY2012Q3 | psdv |
Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
|
5400000 | |
CY2012Q3 | psdv |
Term Of Warrants
TermOfWarrants
|
P5Y | |
CY2012Q3 | psdv |
Warrants Granted To Purchase Common Stock
WarrantsGrantedToPurchaseCommonStock
|
623605 | shares |
CY2012Q3 | psdv |
Share Price Per Unit
SharePricePerUnit
|
2.15 | |
CY2012Q4 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
23297000 | shares |
CY2012Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.11 | |
CY2012Q4 | us-gaap |
Revenues
Revenues
|
585000 | |
CY2012Q4 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-2616000 | |
CY2013Q4 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3540000 | |
CY2013Q4 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
72000 | |
CY2013Q4 | us-gaap |
Revenues
Revenues
|
592000 | |
CY2013Q4 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-3484000 | |
CY2012Q4 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2645000 | |
CY2012Q4 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
||
CY2012Q4 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
-5000 | |
CY2012Q4 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1000 | |
CY2012Q4 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
4000 | |
CY2012Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2648000 | |
CY2012Q4 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-3000 | |
CY2012Q4 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
3000 | |
CY2012Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2608000 | |
CY2012Q4 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-8000 | |
CY2012Q4 | us-gaap |
Royalty Revenue
RoyaltyRevenue
|
390000 | |
CY2012Q4 | us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
195000 | |
CY2012Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1658000 | |
CY2012Q4 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1575000 | |
CY2012Q4 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
194000 | |
CY2012Q4 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
263000 | |
CY2012Q4 | us-gaap |
Operating Expenses
OperatingExpenses
|
3233000 | |
CY2012Q4 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-37000 | |
CY2013Q4 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
26953000 | shares |
CY2013Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.13 | |
CY2013Q4 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
||
CY2013Q4 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
||
CY2013Q4 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
1000 | |
CY2013Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3541000 | |
CY2013Q4 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
30000 | |
CY2013Q4 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1000 | |
CY2013Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3514000 | |
CY2013Q4 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
30000 | |
CY2013Q4 | us-gaap |
Royalty Revenue
RoyaltyRevenue
|
292000 | |
CY2013Q4 | us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
300000 | |
CY2013Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1711000 | |
CY2013Q4 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2494000 | |
CY2013Q4 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
194000 | |
CY2013Q4 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
305000 | |
CY2013Q4 | us-gaap |
Operating Expenses
OperatingExpenses
|
4133000 | |
CY2013Q4 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-26000 |