2014 Q1 Form 10-K Financial Statement

#000128581914000002 Filed on March 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2012 Q4 2012 Q3
Revenue $100.0K $1.583M $1.417M
YoY Change -90.87% 38.5% 43.57%
Cost Of Revenue $0.00
YoY Change
Gross Profit $100.0K
YoY Change
Gross Profit Margin 100.0%
Selling, General & Admin $3.770M $3.720M $2.740M
YoY Change -5.51% 77.14% 49.73%
% of Gross Profit 3770.0%
Research & Development $12.02M $9.350M $7.764M
YoY Change 68.61% 5.06% 45.91%
% of Gross Profit 12017.0%
Depreciation & Amortization $80.00K $90.00K $60.00K
YoY Change 14.29% -10.0% -45.45%
% of Gross Profit 80.0%
Operating Expenses $15.78M $9.116M $14.45M
YoY Change 42.01% -17.05% 102.11%
Operating Profit -$15.68M -$7.533M -$13.04M
YoY Change 56.53% -23.5% 111.49%
Interest Expense $672.0K -$360.0K $413.0K
YoY Change 14.48% -32.08% -21.78%
% of Operating Profit
Other Income/Expense, Net -$286.0K $160.0K $159.0K
YoY Change -355.36% -5.88% -7.02%
Pretax Income -$16.64M -$7.730M -$13.28M
YoY Change 58.63% -24.22% 103.99%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$16.64M -$7.734M -$13.28M
YoY Change 58.66% -24.18% 103.87%
Net Earnings / Revenue -16642.0% -488.57% -936.91%
Basic Earnings Per Share
Diluted Earnings Per Share -$538.5K -$298.6K -$514.1K
COMMON SHARES
Basic Shares Outstanding 30.40M shares 25.89M shares 25.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.20M $22.40M $30.60M
YoY Change 292.48% -8.94% -6.99%
Cash & Equivalents $567.0K $1.520M $1.060M
Short-Term Investments $51.60M $20.80M $29.60M
Other Short-Term Assets $143.0K $400.0K $300.0K
YoY Change -71.4% -20.0% 50.0%
Inventory
Prepaid Expenses $1.312M
Receivables $500.0K $1.900M $500.0K
Other Receivables $0.00 $44.00K $0.00
Total Short-Term Assets $54.13M $24.70M $31.44M
YoY Change 242.33% -4.81% -6.99%
LONG-TERM ASSETS
Property, Plant & Equipment $989.0K $1.037M $685.0K
YoY Change -6.52% 40.32% -14.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $267.0K $159.0K $76.00K
YoY Change 86.71% 55.88% -74.67%
Total Long-Term Assets $1.935M $1.875M $1.324M
YoY Change 2.93% 81.33% 10.33%
TOTAL ASSETS
Total Short-Term Assets $54.13M $24.70M $31.44M
Total Long-Term Assets $1.935M $1.875M $1.324M
Total Assets $56.07M $26.58M $32.76M
YoY Change 216.89% -1.51% -6.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.926M $2.632M $2.702M
YoY Change 88.81% 31.47% 68.88%
Accrued Expenses $5.306M $4.757M $6.373M
YoY Change -23.97% -10.92% 145.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $6.400M
YoY Change -100.0% -100.0% 20.75%
Total Short-Term Liabilities $10.23M $8.359M $21.81M
YoY Change -3.33% -55.97% 38.04%
LONG-TERM LIABILITIES
Long-Term Debt $32.21M $20.10M $8.700M
YoY Change 67.77% 48.35% -42.38%
Other Long-Term Liabilities $8.400M $4.600M $3.100M
YoY Change 121.05%
Total Long-Term Liabilities $32.21M $20.10M $11.80M
YoY Change 67.77% 48.35% -21.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.23M $8.359M $21.81M
Total Long-Term Liabilities $32.21M $20.10M $11.80M
Total Liabilities $42.44M $28.46M $33.60M
YoY Change 42.5% -12.52% 8.74%
SHAREHOLDERS EQUITY
Retained Earnings -$271.0M -$214.6M -$206.8M
YoY Change 20.42% 21.83%
Common Stock $339.0K $259.0K $259.0K
YoY Change 30.89% 15.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.212M -$6.531M -$820.0K
YoY Change
Total Liabilities & Shareholders Equity $56.07M $26.58M $32.76M
YoY Change 216.89% -1.51% -6.4%

Cashflow Statement

Concept 2014 Q1 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$16.64M -$7.734M -$13.28M
YoY Change 58.66% -24.18% 103.87%
Depreciation, Depletion And Amortization $80.00K $90.00K $60.00K
YoY Change 14.29% -10.0% -45.45%
Cash From Operating Activities -$11.14M -$12.78M -$7.400M
YoY Change 24.21% 73.64% 80.05%
INVESTING ACTIVITIES
Capital Expenditures $6.000K -$400.0K -$90.00K
YoY Change -93.18% 900.0% 800.0%
Acquisitions
YoY Change
Other Investing Activities -$38.91M $8.730M -$29.57M
YoY Change -542.16% 17.97% -722.53%
Cash From Investing Activities -$38.91M $8.330M -$29.66M
YoY Change -546.89% 13.18% -725.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $37.80M $32.30M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $49.23M 4.910M 30.85M
YoY Change 223686.36% -657.95% 30750.0%
NET CHANGE
Cash From Operating Activities -$11.14M -12.78M -7.400M
Cash From Investing Activities -$38.91M 8.330M -29.66M
Cash From Financing Activities $49.23M 4.910M 30.85M
Net Change In Cash -$817.0K 460.0K -6.210M
YoY Change 241.84% -152.27% -950.68%
FREE CASH FLOW
Cash From Operating Activities -$11.14M -$12.78M -$7.400M
Capital Expenditures $6.000K -$400.0K -$90.00K
Free Cash Flow -$11.15M -$12.38M -$7.310M
YoY Change 23.07% 69.13% 78.29%

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51000 USD
CY2012 us-gaap Investment Income Net
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40000 USD
CY2013 us-gaap Issuance Of Stock And Warrants For Services Or Claims
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71000 USD
CY2012 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
64000 USD
CY2011 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
62000 USD
CY2011 us-gaap Lease And Rental Expense
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2200000 USD
CY2013 us-gaap Lease And Rental Expense
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4300000 USD
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2900000 USD
CY2012Q4 us-gaap Lease Expiration Date1
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2012-11-01
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0 USD
CY2012Q4 us-gaap Lease Incentive Receivable Current
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1488000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
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26575000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
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16535000 USD
CY2013Q4 us-gaap Liabilities Current
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11873000 USD
CY2012Q4 us-gaap Liabilities Current
LiabilitiesCurrent
8359000 USD
CY2012Q4 us-gaap Litigation Settlement Amount
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3950000 USD
CY2013Q4 us-gaap Litigation Settlement Amount
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12500000 USD
CY2012Q3 us-gaap Litigation Settlement Expense
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3950000 USD
CY2012Q4 us-gaap Long Term Debt Current
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0 USD
CY2013Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5600000 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
6116000 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
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0 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
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5000 USD
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7295000 USD
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6683000 USD
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20103000 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
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14898000 USD
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1603000 USD
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1626000 USD
CY2013 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Organization</font></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system. Our most clinically advanced products are derived from our proprietary PharmacoSurgery</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> platform designed to improve clinical outcomes of patients undergoing ophthalmological, arthroscopic, urological and other surgical and medical procedures. Our PharmacoSurgery platform is based on low-dose combinations of therapeutic agents delivered directly to the surgical site throughout the duration of the procedure to preemptively inhibit inflammation and other problems caused by surgical trauma and to provide clinical benefits both during and after surgery. Omidria&#8482; (OMS302), our most advanced product, is derived from our PharmacoSurgery platform. In addition to Omidria, we have six other clinical-stage development programs in our pipeline. We also have a deep and diverse pipeline of preclinical programs as well as two additional platforms: one capable of unlocking new G protein-coupled receptor drug targets and the other used to generate antibodies. For each of our products and programs, we have retained all manufacturing, marketing and distribution rights.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Omidria is used for patients undergoing intraocular lens replacement surgery. In July 2013, we submitted a New Drug Application (NDA) to the Federal Drug Administration (FDA) and in September 2013, a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for Omidria.</font></div></div>
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21650000 USD
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9486000 USD
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32973000 USD
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16909000 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
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-907000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
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7909000 USD
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-34551000 USD
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-25668000 USD
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-29695000 USD
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-28546000 USD
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-39796000 USD
CY2012 us-gaap Net Income Loss
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-38444000 USD
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-1845000 USD
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-10489000 USD
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-13592000 USD
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-8895000 USD
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-8539000 USD
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31934000 USD
CY2012 us-gaap Operating Expenses
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CY2013 us-gaap Operating Expenses
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52116000 USD
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14071000 USD
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CY2012Q2 us-gaap Operating Expenses
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9770000 USD
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CY2013Q1 us-gaap Operating Expenses
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CY2012 us-gaap Operating Income Loss
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-36885000 USD
CY2013 us-gaap Operating Income Loss
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-50516000 USD
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-13160000 USD
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-13434000 USD
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-8072000 USD
CY2013Q4 us-gaap Operating Income Loss
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-13902000 USD
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-10020000 USD
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CY2012Q2 us-gaap Operating Income Loss
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CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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4253000 USD
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CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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3976000 USD
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42063000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Receivable
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2130000 USD
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550000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
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0 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
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480000 USD
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550000 USD
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550000 USD
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0 USD
CY2013 us-gaap Operating Leases Income Statement Sublease Revenue
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550000000 USD
CY2011 us-gaap Operating Leases Income Statement Sublease Revenue
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693000000 USD
CY2012 us-gaap Operating Leases Income Statement Sublease Revenue
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635000000 USD
CY2012Q4 us-gaap Operating Loss Carryforwards
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CY2013Q4 us-gaap Operating Loss Carryforwards
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435000 USD
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495000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
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100000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
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159000 USD
CY2011 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
697000 USD
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
574000 USD
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
130000 USD
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44000 USD
CY2013Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
71000 USD
CY2013 us-gaap Paid In Kind Interest
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502000 USD
CY2012 us-gaap Paid In Kind Interest
PaidInKindInterest
354000 USD
CY2011 us-gaap Paid In Kind Interest
PaidInKindInterest
352000 USD
CY2013Q2 us-gaap Payments Of Stock Issuance Costs
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39000 USD
CY2012Q3 us-gaap Payments Of Stock Issuance Costs
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2200000 USD
CY2012 us-gaap Payments To Acquire Available For Sale Securities
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49547000 USD
CY2013 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
47182000 USD
CY2011 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
9000000 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
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204000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
642000 USD
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1241000 USD
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
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0 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q4 us-gaap Preferred Stock Value
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0 USD
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
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337000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
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416000 USD
CY2013 us-gaap Prior Period Reclassification Adjustment Description
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred rent totaling </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$959,000</font><font style="font-family:inherit;font-size:10pt;"> was reclassified from current liabilities to non-current liabilities for the year ended December 31, 2012 in the accompanying Consolidated Balance Sheets as we did not have the obligation or intention to pay this rent prior to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;">. The presentation of the related captions on the cash flow statement for the prior year has also been reclassified to conform to the current period presentation.</font></div></div>
CY2011 us-gaap Proceeds From Issuance Of Common Stock
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0 USD
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32306000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
20988000 USD
CY2012Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32300000 USD
CY2013Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16100000 USD
CY2013 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
CY2012 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
6492000 USD
CY2011 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
9942000 USD
CY2011 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
27150000 USD
CY2012 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
49282000 USD
CY2013 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
55295000 USD
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
369000 USD
CY2011 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
595000 USD
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
662000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
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3030000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
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2826000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
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1037000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
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939000 USD
CY2013Q4 us-gaap Receivables Net Current
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379000 USD
CY2012Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
1934000 USD
CY2013 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2011 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1051000 USD
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
6194000 USD
CY2011 us-gaap Research And Development Expense
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23718000 USD
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
36297000 USD
CY2012 us-gaap Research And Development Expense
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31922000 USD
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679000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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679000 USD
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CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2013 us-gaap Revenues
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1600000 USD
CY2011 us-gaap Revenues
Revenues
4524000 USD
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Revenues
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1526000 USD
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Revenues
1583000 USD
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196000 USD
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1095000 USD
CY2013Q4 us-gaap Security Deposit
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679000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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4.57
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578000 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
4281000 USD
CY2011 us-gaap Share Based Compensation
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1927000 USD
CY2013 us-gaap Share Based Compensation
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6252000 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.83
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.88
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.86
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0095
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0166
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0197
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4072707 shares
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2100000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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1100000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
179259 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.52
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1943301 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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7.35
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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6.87
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.31
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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34262000 USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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5390582 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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6969303 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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5.18
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.38
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
33588000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.27
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.57
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.52
CY2011 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
15000 shares
CY2013 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
40000 shares
CY2012 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
28000 shares
CY2013Q2 us-gaap Share Price
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4.14
CY2012Q3 us-gaap Share Price
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10.25
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M29D
CY2013Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
27385000 USD
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M25D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M12D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y1M13D
CY2012Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3400000 shares
CY2013Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3900000 shares
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
185321 shares
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
32306000 USD
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
16120000 USD
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
662000 USD
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
369000 USD
CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
595000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
-18384000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
-6531000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
20470000 USD
CY2013 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2012 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:left;padding-left:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates </font></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant items subject to such estimates include revenue recognition, fair market value of investments, stock based compensation expense and accruals for clinical trial and contingencies. We base our estimates on historical experience and on various other factors that we believe are reasonable under the circumstances; however, actual results could differ from these estimates. </font></div></div>
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
14500000 USD
CY2011 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
9500000 USD
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
13600000 USD
CY2011 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22212351 shares
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28560360 shares
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24155690 shares
CY2013Q4 omer Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
596000 USD
CY2012Q4 omer Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
1842000 USD
CY2013Q4 omer Accrued Contract Research Costs
AccruedContractResearchCosts
858000 USD
CY2012Q4 omer Accrued Contract Research Costs
AccruedContractResearchCosts
1447000 USD
CY2013 omer Beginning Year Of Expiry For Net Operating Loss Carryforwards
BeginningYearOfExpiryForNetOperatingLossCarryforwards
2019
CY2012 omer Change In Fair Value Of Warrant Liabilities
ChangeInFairValueOfWarrantLiabilities
-511000 USD
CY2013 omer Change In Fair Value Of Warrant Liabilities
ChangeInFairValueOfWarrantLiabilities
-41000 USD
CY2013Q4 omer Classof Warrantor Right Exercise Priceof Warrantsor Rights Weighted Average Price
ClassofWarrantorRightExercisePriceofWarrantsorRightsWeightedAveragePrice
23.85
CY2012Q1 omer Classof Warrantor Right Extension Period
ClassofWarrantorRightExtensionPeriod
P1Y
CY2013Q1 omer Classof Warrantor Right Extension Period
ClassofWarrantorRightExtensionPeriod
P1Y
CY2013Q4 omer Computer Equipment Gross
ComputerEquipmentGross
431000 USD
CY2013Q4 omer Sales Agreement Net Proceeds
SalesAgreementNetProceeds
4900000 USD
CY2013Q4 omer Sales Agreement Numberof Shares Sold During Period
SalesAgreementNumberofSharesSoldDuringPeriod
374000 shares
CY2011 omer Reduction Of Equipment Cost Basis Due To Assets Purchased With Grant Funding
ReductionOfEquipmentCostBasisDueToAssetsPurchasedWithGrantFunding
1689000 USD
CY2012Q4 omer Computer Equipment Gross
ComputerEquipmentGross
394000 USD
CY2012 omer Deferred Rent Reclassification
DeferredRentReclassification
959000 USD
CY2012Q4 omer Deferred Tax Assets Tax Credit Carryforwards Research And Development
DeferredTaxAssetsTaxCreditCarryforwardsResearchAndDevelopment
3800000 USD
CY2013Q4 omer Deferred Tax Assets Tax Credit Carryforwards Research And Development
DeferredTaxAssetsTaxCreditCarryforwardsResearchAndDevelopment
5700000 USD
CY2013Q4 omer Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1
CY2013Q4 omer Deferredtaxassetchangeinresearchcreditcarryforwardextensionofcredit
Deferredtaxassetchangeinresearchcreditcarryforwardextensionofcredit
1100000 USD
CY2012Q4 omer Deferredtaxassetchangeinresearchcreditcarryforwardextensionofcredit
Deferredtaxassetchangeinresearchcreditcarryforwardextensionofcredit
1100000 USD
CY2012 omer Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.02
CY2011 omer Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.01
CY2013 omer Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.03
CY2013 omer Ending Year Of Expiry For Net Operating Loss Carryforwards
EndingYearOfExpiryForNetOperatingLossCarryforwards
2033
CY2013 omer Lease Agreement Expense Incurred To Date Reimbursable By Landlord
LeaseAgreementExpenseIncurredToDateReimbursableByLandlord
1400000 USD
CY2012 omer Lease Agreement Expense Incurred To Date Reimbursable By Landlord
LeaseAgreementExpenseIncurredToDateReimbursableByLandlord
602000 USD
CY2013 omer Lease Extension Period
LeaseExtensionPeriod
P5Y
CY2013 omer Lease Term
LeaseTerm
P15Y
CY2013Q4 omer Long Term Debt Maturities Total Principal Payments
LongTermDebtMaturitiesTotalPrincipalPayments
20099000 USD
CY2013Q4 omer Net Operating Leases Future Minimum Payments Due
NetOperatingLeasesFutureMinimumPaymentsDue
59618000 USD
CY2013Q4 omer Net Operating Leases Future Minimum Payments Due Current
NetOperatingLeasesFutureMinimumPaymentsDueCurrent
2682000 USD
CY2013Q4 omer Net Operating Leases Future Minimum Payments Due In Five Years
NetOperatingLeasesFutureMinimumPaymentsDueInFiveYears
4253000 USD
CY2013Q4 omer Net Operating Leases Future Minimum Payments Due In Four Years
NetOperatingLeasesFutureMinimumPaymentsDueInFourYears
3678000 USD
CY2013Q4 omer Net Operating Leases Future Minimum Payments Due In Three Years
NetOperatingLeasesFutureMinimumPaymentsDueInThreeYears
3516000 USD
CY2013Q4 omer Net Operating Leases Future Minimum Payments Due In Two Years
NetOperatingLeasesFutureMinimumPaymentsDueInTwoYears
3426000 USD
CY2013Q4 omer Net Operating Leases Future Minimum Payments Due Thereafter
NetOperatingLeasesFutureMinimumPaymentsDueThereafter
42063000 USD
CY2013 omer Operating Lease Number Of Additional Renewal Option
OperatingLeaseNumberOfAdditionalRenewalOption
2 Leases
CY2012 omer Reduction Of Equipment Cost Basis Due To Assets Purchased With Grant Funding
ReductionOfEquipmentCostBasisDueToAssetsPurchasedWithGrantFunding
60000 USD
CY2013 omer Reduction Of Equipment Cost Basis Due To Assets Purchased With Grant Funding
ReductionOfEquipmentCostBasisDueToAssetsPurchasedWithGrantFunding
0 USD
CY2013Q4 omer Sales Agreement Average Share Price
SalesAgreementAverageSharePrice
13.29
CY2013 omer Sales Agreement Commission Percentage
SalesAgreementCommissionPercentage
0.02
CY2013 omer Sales Agreement Net Proceeds
SalesAgreementNetProceeds
4868000 USD
CY2013 omer Sales Agreement Termination Period
SalesAgreementTerminationPeriod
P10D
CY2013Q4 omer Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumber
2896596 shares
CY2013Q1 omer Warrant Expiration Date
WarrantExpirationDate
2014-03-29
CY2013 omer Warrant Expiration Date
WarrantExpirationDate
2014-03-29
CY2013Q4 omer Working Capital
WorkingCapital
2900000 USD
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001285819
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
30397366 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
138767404 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
OMEROS CORP
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2013 dei Trading Symbol
TradingSymbol
OMER

Files In Submission

Name View Source Status
0001285819-14-000002-index-headers.html Edgar Link pending
0001285819-14-000002-index.html Edgar Link pending
0001285819-14-000002.txt Edgar Link pending
0001285819-14-000002-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
omer-20131231.xml Edgar Link completed
omer-20131231.xsd Edgar Link pending
omer-20131231x10k.htm Edgar Link pending
omer-20131231_cal.xml Edgar Link unprocessable
omer-20131231_def.xml Edgar Link unprocessable
omer-20131231_lab.xml Edgar Link unprocessable
omer-20131231_pre.xml Edgar Link unprocessable
omer-ex1018_thirdamendment.htm Edgar Link pending
omer-ex1020_settlementagre.htm Edgar Link pending
omer-ex1044_eighthamendmen.htm Edgar Link pending
omer-ex121_20131231.htm Edgar Link pending
omer-ex231_consentofindepe.htm Edgar Link pending
omer-ex311_20131231.htm Edgar Link pending
omer-ex312_20131231.htm Edgar Link pending
omer-ex321_20131231.htm Edgar Link pending
omer-ex322_20131231.htm Edgar Link pending
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