2013 Q2 Form 10-Q Financial Statement
#000114420413027413 Filed on May 09, 2013
Income Statement
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
Revenue | $3.531M | $3.833M | $4.642M |
YoY Change | -50.29% | -17.43% | 456.59% |
Cost Of Revenue | $1.632M | $1.712M | $3.786M |
YoY Change | -68.11% | -54.78% | 1003.79% |
Gross Profit | $1.899M | $2.121M | $856.0K |
YoY Change | -4.33% | 147.78% | 74.34% |
Gross Profit Margin | 53.78% | 55.34% | 18.44% |
Selling, General & Admin | $4.000M | $2.900M | $3.100M |
YoY Change | 60.0% | -6.45% | 6.9% |
% of Gross Profit | 210.64% | 136.73% | 362.15% |
Research & Development | $10.79M | $9.256M | $5.338M |
YoY Change | 100.8% | 73.4% | 5.27% |
% of Gross Profit | 567.93% | 436.4% | 623.6% |
Depreciation & Amortization | $600.0K | $400.0K | $400.0K |
YoY Change | 50.0% | 0.0% | 0.0% |
% of Gross Profit | 31.6% | 18.86% | 46.73% |
Operating Expenses | $10.79M | $9.256M | $5.338M |
YoY Change | 100.8% | 73.4% | 5.27% |
Operating Profit | -$12.90M | -$10.01M | -$7.467M |
YoY Change | 120.29% | 33.99% | 0.5% |
Interest Expense | $45.00K | $22.00K | $3.000K |
YoY Change | 1400.0% | 633.33% | 50.0% |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | ||
YoY Change | |||
Pretax Income | -$12.63M | -$9.979M | -$7.336M |
YoY Change | 113.31% | 36.03% | -2.19% |
Income Tax | $5.000K | $17.00K | |
% Of Pretax Income | |||
Net Earnings | -$12.63M | -$9.996M | -$7.336M |
YoY Change | 113.4% | 36.26% | -1.57% |
Net Earnings / Revenue | -357.77% | -260.79% | -158.04% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$1.658M | -$1.351M | -$1.159M |
COMMON SHARES | |||
Basic Shares Outstanding | 152.5M shares | 147.9M | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $40.60M | $44.30M | $20.70M |
YoY Change | 53.21% | 114.01% | -13.39% |
Cash & Equivalents | $2.574M | $9.023M | $13.87M |
Short-Term Investments | $38.00M | $35.30M | $6.800M |
Other Short-Term Assets | $20.00K | $886.0K | $177.0K |
YoY Change | -92.34% | 400.56% | -89.59% |
Inventory | |||
Prepaid Expenses | $2.024M | $2.167M | $2.411M |
Receivables | $907.0K | $2.602M | $1.725M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $45.37M | $51.72M | $26.44M |
YoY Change | 29.7% | 95.61% | -8.82% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $13.32M | $11.62M | $7.949M |
YoY Change | 71.8% | 46.14% | 0.62% |
Goodwill | $33.14M | $33.14M | $33.14M |
YoY Change | 0.0% | 0.0% | |
Intangibles | |||
YoY Change | |||
Long-Term Investments | $0.00 | $1.100M | |
YoY Change | |||
Other Assets | $335.0K | $350.0K | $350.0K |
YoY Change | -4.29% | 0.0% | 75.0% |
Total Long-Term Assets | $47.55M | $46.98M | $42.20M |
YoY Change | 13.22% | 11.34% | 2.66% |
TOTAL ASSETS | |||
Total Short-Term Assets | $45.37M | $51.72M | $26.44M |
Total Long-Term Assets | $47.55M | $46.98M | $42.20M |
Total Assets | $92.92M | $98.70M | $68.64M |
YoY Change | 20.71% | 43.81% | -2.09% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.946M | $2.173M | $2.959M |
YoY Change | -12.84% | -26.56% | -12.97% |
Accrued Expenses | $7.223M | $5.842M | $4.478M |
YoY Change | 28.23% | 30.46% | -6.71% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $600.0K | $400.0K | $0.00 |
YoY Change | -100.0% | ||
Total Short-Term Liabilities | $11.26M | $9.253M | $7.841M |
YoY Change | 19.47% | 18.01% | -29.36% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $1.900M | $1.500M | $400.0K |
YoY Change | 375.0% | 275.0% | 33.33% |
Other Long-Term Liabilities | $10.60M | $10.40M | $6.100M |
YoY Change | 73.77% | 70.49% | 17.31% |
Total Long-Term Liabilities | $12.50M | $11.90M | $6.500M |
YoY Change | 92.31% | 83.08% | 18.18% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $11.26M | $9.253M | $7.841M |
Total Long-Term Liabilities | $12.50M | $11.90M | $6.500M |
Total Liabilities | $23.69M | $21.14M | $14.31M |
YoY Change | 49.03% | 47.67% | -13.78% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$380.8M | -$368.2M | -$337.0M |
YoY Change | 11.05% | 9.25% | |
Common Stock | $1.532M | $1.517M | $1.226M |
YoY Change | 15.54% | 23.74% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $2.450M | $2.450M | $2.450M |
YoY Change | 0.0% | 0.0% | |
Treasury Stock Shares | 455.4K shares | 455.4K shares | 455.4K shares |
Shareholders Equity | $69.23M | $77.57M | $54.32M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $92.92M | $98.70M | $68.64M |
YoY Change | 20.71% | 43.81% | -2.09% |
Cashflow Statement
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$12.63M | -$9.996M | -$7.336M |
YoY Change | 113.4% | 36.26% | -1.57% |
Depreciation, Depletion And Amortization | $600.0K | $400.0K | $400.0K |
YoY Change | 50.0% | 0.0% | 0.0% |
Cash From Operating Activities | -$7.600M | -$10.58M | -$4.220M |
YoY Change | 24.59% | 150.78% | -53.32% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$1.700M | -$1.500M | -$800.0K |
YoY Change | 466.67% | 87.5% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$1.600M | -$3.400M | -$2.500M |
YoY Change | -61.9% | 36.0% | -131.25% |
Cash From Investing Activities | -$3.200M | -$4.974M | -$3.270M |
YoY Change | -28.89% | 52.11% | -140.95% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $6.425M | $7.923M | |
YoY Change | -18.91% | 501.59% | |
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 4.400M | $7.181M | $7.259M |
YoY Change | -63.64% | -1.07% | 436.51% |
NET CHANGE | |||
Cash From Operating Activities | -7.600M | -$10.58M | -$4.220M |
Cash From Investing Activities | -3.200M | -$4.974M | -$3.270M |
Cash From Financing Activities | 4.400M | $7.181M | $7.259M |
Net Change In Cash | -6.400M | -$8.376M | -$231.0K |
YoY Change | -526.67% | 3525.97% | -177.78% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$7.600M | -$10.58M | -$4.220M |
Capital Expenditures | -$1.700M | -$1.500M | -$800.0K |
Free Cash Flow | -$5.900M | -$9.083M | -$3.420M |
YoY Change | 1.72% | 165.58% | -62.17% |
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5100000 | USD |
CY2013Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y8M12D | |
CY2008Q3 | us-gaap |
Equity Issuance Per Share Amount
EquityIssuancePerShareAmount
|
2.68 | |
CY2013Q1 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
USD | |
CY2012Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2985000 | USD |
CY2013Q1 | us-gaap |
Goodwill
Goodwill
|
33141000 | USD |
CY2012Q1 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
101000 | USD |
CY2013Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
17000 | USD |
CY2012Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
USD | |
CY2013Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2694000 | USD |
CY2012Q4 | us-gaap |
Goodwill
Goodwill
|
33141000 | USD |
CY2011Q1 | us-gaap |
Government Contract Receivable
GovernmentContractReceivable
|
179000000 | USD |
CY2013Q1 | us-gaap |
Government Contract Receivable Unbilled Amounts
GovernmentContractReceivableUnbilledAmounts
|
1571000 | USD |
CY2012Q4 | us-gaap |
Government Contract Receivable Unbilled Amounts
GovernmentContractReceivableUnbilledAmounts
|
1570000 | USD |
CY2013Q1 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
48000 | USD |
CY2012Q1 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
33000 | USD |
CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-9979000 | USD |
CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-7336000 | USD |
CY2013Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
17000 | USD |
CY2012Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
CY2013Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1590000 | USD |
CY2012Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-517000 | USD |
CY2013Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1591000 | USD |
CY2012Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-240000 | USD |
CY2013Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-180000 | USD |
CY2012Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
USD | |
CY2013Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
703000 | USD |
CY2012Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
1557000 | USD |
CY2013Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-54000 | USD |
CY2012Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-183000 | USD |
CY2013Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-769000 | USD |
CY2012Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
USD | |
CY2013Q1 | us-gaap |
Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
|
1000 | USD |
CY2012Q1 | us-gaap |
Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
|
-427000 | USD |
CY2013Q1 | us-gaap |
Interest Expense
InterestExpense
|
22000 | USD |
CY2012Q1 | us-gaap |
Interest Expense
InterestExpense
|
3000 | USD |
CY2013Q1 | us-gaap |
Interest Paid
InterestPaid
|
20000 | USD |
CY2012Q1 | us-gaap |
Interest Paid
InterestPaid
|
USD | |
CY2013Q1 | us-gaap |
Liabilities
Liabilities
|
21136000 | USD |
CY2012Q4 | us-gaap |
Liabilities
Liabilities
|
22105000 | USD |
CY2013Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
98704000 | USD |
CY2012Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
102345000 | USD |
CY2013Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
9253000 | USD |
CY2012Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
11675000 | USD |
CY2013Q1 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
1290000 | USD |
CY2012Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
753000 | USD |
CY2012Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
144000 | USD |
CY2013Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-240000 | USD |
CY2012Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-336000 | USD |
CY2013Q1 | us-gaap |
Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
|
700000 | USD |
us-gaap |
Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
|
5000000 | USD | |
CY2013Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
200000 | USD |
CY2013Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> Note 1 - Organization</p> <p style="TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Novavax, Inc. (the "Company") is a clinical-stage biopharmaceutical company focused on developing recombinant protein nanoparticle vaccines to address a broad range of infectious diseases. The Company's technology platform is based on proprietary recombinant vaccine technology that includes virus-like particles ("VLPs") and recombinant protein micelle vaccines combined with a single-use bioprocessing production system. These vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate immunologically important recombinant proteins. The Company's product pipeline targets a variety of infectious diseases and its vaccine candidates are currently in or have completed clinical trials that target seasonal influenza, pandemic (H5N1) influenza and respiratory syncytial virus ("RSV").</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In 2009, the Company formed a joint venture with Cadila Pharmaceuticals Limited ("Cadila") named CPL Biologicals Private Limited (the "JV") to develop and manufacture vaccines, biological therapeutics and diagnostics in India. The JV is owned 20% by the Company and 80% by Cadila. The Company accounts for its investment in the JV using the equity method. Since the carrying value of the Company's initial investment was nominal and there is no guarantee or commitment to provide future funding, the Company has not recorded any losses related to this investment.</p> <!--EndFragment--></div> </div> | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7181000 | USD |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7259000 | USD |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4974000 | USD |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3270000 | USD |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10583000 | USD |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4220000 | USD |
CY2013Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9996000 | USD |
CY2012Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7336000 | USD |
CY2013Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
390000 | USD |
CY2012Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
157000 | USD |
CY2013Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10005000 | USD |
CY2012Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7467000 | USD |
CY2013Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
886000 | USD |
CY2012Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
171000 | USD |
CY2013Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
350000 | USD |
CY2012Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
351000 | USD |
CY2013Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
39000 | USD |
CY2012Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
100000 | USD |
CY2013Q1 | us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
8718000 | USD |
CY2012Q1 | us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
2498000 | USD |
CY2013Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
1542000 | USD |
CY2012Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
772000 | USD |
CY2013Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2012Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2013Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
CY2012Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
CY2013Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2012Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2013Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2013Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
757000 | USD |
CY2012Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
756000 | USD |
CY2013Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-368159000 | USD |
CY2012Q1 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
-13000 | USD |
CY2013Q1 | us-gaap |
Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
|
-1000 | USD |
CY2012Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-358163000 | USD |
CY2012Q1 | us-gaap |
Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
|
-755000 | USD |
CY2013Q1 | us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
5235000 | USD |
CY2012Q1 | us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
USD | |
CY2013Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
51000 | USD |
CY2012Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
USD | |
CY2013Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1000 | USD |
CY2012Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
4000 | USD |
CY2013Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11617000 | USD |
CY2012Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11456000 | USD |
CY2012Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2013Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
CY2012Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
CY2013Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
2167000 | USD |
CY2012Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
2559000 | USD |
CY2013Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong><em>Reclassifications</em></strong></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Within the March 31, 2012 statement of operations, certain expenses relating to patent and other costs of $0.3 million have been reclassified from general and administrative expenses to research and development expenses. Also, within the March 31, 2012 statement of cash flows, additional lease incentives received of $0.6 million recorded in the change in accounts payable and accrued expenses have been reclassified and are included in the change in lease incentives received. All of these reclassifications have been made to conform to current year presentation.</p> <!--EndFragment--></div> </div> | |
CY2013Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
6425000 | USD |
CY2012Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
7923000 | USD |
CY2013Q1 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
6400000 | USD |
CY2008Q3 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
17500000 | USD |
CY2013Q2 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
400000 | USD |
CY2013Q2 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
3200000 | USD |
CY2013Q1 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
809000 | USD |
CY2012Q1 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
100000 | USD |
CY2013Q1 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
-39000 | USD |
CY2013Q1 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
14000 | USD |
CY2012Q1 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
USD | |
CY2013Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
9432000 | USD |
CY2012Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
5338000 | USD |
CY2013Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
217000 | USD |
CY2012Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
986000 | USD |
CY2013Q1 | us-gaap |
Revenues
Revenues
|
3833000 | USD |
CY2012Q1 | us-gaap |
Revenues
Revenues
|
4642000 | USD |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
|
||
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
shares | |
CY2013Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
483000 | USD |
CY2012Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
587000 | USD |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
shares | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.00 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
||
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
33334 | shares |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
33334 | shares |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
1.39 | |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
1.39 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
shares | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
|
||
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2012Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
0.7372 | pure |
CY2012Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
0.8048 | pure |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.6923 | pure |
CY2012Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.7552 | pure |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0134 | pure |
CY2012Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0154 | pure |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0062 | pure |
CY2012Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0082 | pure |
CY2013Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
1900000 | USD |
CY2013Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
100000 | USD |
CY2012Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
100000 | USD |
CY2012Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.71 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
6600000 | USD |
CY2013Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y10M24D | |
CY2013Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
77568000 | USD |
CY2012Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
80240000 | USD |
CY2013Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
3300000 | shares |
CY2008Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
6686650 | shares |
CY2013Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
200000 | shares |
CY2013Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
1300000 | shares |
CY2013Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
455430 | shares |
CY2012Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
455430 | shares |
CY2013Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2450000 | USD |
CY2012Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2450000 | USD |
CY2013Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"> <strong><em>Use of Estimates</em></strong></p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from these estimates.</p> <!--EndFragment--></div> </div> | |
CY2013Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
148448 | shares |
CY2012Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
120558 | shares |