2015 Q1 Form 10-K Financial Statement

#000128581915000003 Filed on March 16, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 2013 Q4
Revenue $388.0K $539.0K $169.0K
YoY Change 288.0% -66.31% -89.32%
Cost Of Revenue $11.00K $0.00
YoY Change
Gross Profit $377.0K $539.0K
YoY Change 277.0% -66.31%
Gross Profit Margin 97.16% 100.0%
Selling, General & Admin $8.990M $22.60M $3.890M
YoY Change 138.46% 43.04% 4.57%
% of Gross Profit 2384.62% 4192.95%
Research & Development $9.318M $47.95M $10.19M
YoY Change -22.46% 32.09% 8.98%
% of Gross Profit 2471.62% 8895.36%
Depreciation & Amortization $60.00K $326.0K $80.00K
YoY Change -25.0% 7.95% -11.11%
% of Gross Profit 15.92% 60.48%
Operating Expenses $18.32M $70.55M $14.07M
YoY Change 16.05% 35.37% 54.35%
Operating Profit -$17.93M -$70.01M -$13.90M
YoY Change 14.32% 38.59% 84.55%
Interest Expense $957.0K $3.470M -$600.0K
YoY Change 42.41% 46.66% 66.67%
% of Operating Profit
Other Income/Expense, Net $218.0K -$207.0K $150.0K
YoY Change -176.22% -136.06% -6.25%
Pretax Income -$18.67M -$73.70M -$1.850M
YoY Change 12.2% 85.18% -76.07%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.67M -$73.67M -$1.845M
YoY Change 12.18% 85.13% -76.14%
Net Earnings / Revenue -4811.6% -13668.46% -1091.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$511.8K -$2.220M -$61.08K
COMMON SHARES
Basic Shares Outstanding 37.80M shares 30.32M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.10M $6.900M $14.10M
YoY Change 34.29% -51.06% -37.05%
Cash & Equivalents $1.441M $400.0K $1.384M
Short-Term Investments $68.60M $6.500M $12.70M
Other Short-Term Assets $116.0K $1.200M $86.00K
YoY Change -18.88% 200.0% -78.5%
Inventory $566.0K $600.0K $0.00
Prepaid Expenses $1.784M $251.0K
Receivables $500.0K $300.0K $400.0K
Other Receivables $0.00 $100.0K $71.00K
Total Short-Term Assets $73.07M $9.000M $14.82M
YoY Change 34.98% -39.19% -40.01%
LONG-TERM ASSETS
Property, Plant & Equipment $727.0K $800.0K $939.0K
YoY Change -26.49% -11.11% -9.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $439.0K $1.000M $100.0K
YoY Change 64.42% 25.0% -37.11%
Total Long-Term Assets $1.845M $1.800M $1.718M
YoY Change -4.65% 5.88% -8.37%
TOTAL ASSETS
Total Short-Term Assets $73.07M $9.000M $14.82M
Total Long-Term Assets $1.845M $1.800M $1.718M
Total Assets $74.91M $10.80M $16.54M
YoY Change 33.61% -34.55% -37.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.611M $4.900M $2.329M
YoY Change -6.39% 113.04% -11.51%
Accrued Expenses $6.438M $7.100M $3.944M
YoY Change 21.33% 82.05% -17.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.019M $6.300M $5.600M
YoY Change 12.5%
Total Short-Term Liabilities $20.07M $18.30M $11.87M
YoY Change 96.13% 53.78% 42.04%
LONG-TERM LIABILITIES
Long-Term Debt $23.91M $26.10M $14.90M
YoY Change -25.79% 75.17% -25.89%
Other Long-Term Liabilities $9.100M $9.100M $8.100M
YoY Change 8.33% 12.35% 76.09%
Total Long-Term Liabilities $23.91M $35.20M $14.90M
YoY Change -25.79% 53.04% -25.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.07M $18.30M $11.87M
Total Long-Term Liabilities $23.91M $35.20M $14.90M
Total Liabilities $43.97M $53.50M $26.77M
YoY Change 3.6% 53.3% -5.94%
SHAREHOLDERS EQUITY
Retained Earnings -$346.7M -$254.4M
YoY Change 27.93% 18.55%
Common Stock $378.0K $304.0K
YoY Change 11.5% 17.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.85M -$42.70M -$18.38M
YoY Change
Total Liabilities & Shareholders Equity $74.91M $10.80M $16.54M
YoY Change 33.61% -34.55% -37.78%

Cashflow Statement

Concept 2015 Q1 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$18.67M -$73.67M -$1.845M
YoY Change 12.18% 85.13% -76.14%
Depreciation, Depletion And Amortization $60.00K $326.0K $80.00K
YoY Change -25.0% 7.95% -11.11%
Cash From Operating Activities -$17.48M -$58.04M -$300.0K
YoY Change 56.89% 95.47% -97.65%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $28.00K -$60.00K
YoY Change -100.0% -86.27% -85.0%
Acquisitions
YoY Change
Other Investing Activities -$62.09M $6.190M -$4.870M
YoY Change 59.57% -23.67% -155.78%
Cash From Investing Activities -$62.09M $6.157M -$4.940M
YoY Change 59.57% -22.15% -159.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $79.10M $37.75M
YoY Change 109.26% 79.88%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $80.65M $50.86M 5.470M
YoY Change 63.82% 134.91% 11.41%
NET CHANGE
Cash From Operating Activities -$17.48M -$58.04M -300.0K
Cash From Investing Activities -$62.09M $6.157M -4.940M
Cash From Financing Activities $80.65M $50.86M 5.470M
Net Change In Cash $1.087M -$1.030M 230.0K
YoY Change -233.05% 657.35% -50.0%
FREE CASH FLOW
Cash From Operating Activities -$17.48M -$58.04M -$300.0K
Capital Expenditures $0.00 $28.00K -$60.00K
Free Cash Flow -$17.48M -$58.07M -$240.0K
YoY Change 56.81% 94.23% -98.06%

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CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.35
CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.36
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.35
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.03
CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.00
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.01
CY2012 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.00
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.05
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.04
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1346000 USD
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2421000 USD
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
18300000 USD
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M14D
CY2012 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-511000 USD
CY2013 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-41000 USD
CY2014 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-863000 USD
CY2013Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
615000 USD
CY2014Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
615000 USD
CY2012 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 USD
CY2013 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 USD
CY2014 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
9000 USD
CY2012 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2013 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
12500000 USD
CY2014 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10985000 USD
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15819000 USD
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
22601000 USD
CY2013Q4 us-gaap Grants Receivable Current
GrantsReceivableCurrent
308000 USD
CY2014Q4 us-gaap Grants Receivable Current
GrantsReceivableCurrent
324000 USD
CY2014Q4 us-gaap Incentive From Lessor
IncentiveFromLessor
4800000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1169000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5459000 USD
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4718000 USD
CY2013 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-970000 USD
CY2014 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0 USD
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
0 USD
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
0 USD
CY2014 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
568000 USD
CY2012 us-gaap Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
4644000 USD
CY2013 us-gaap Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
3504000 USD
CY2014 us-gaap Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
902000 USD
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
438000 USD
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-84000 USD
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
987000 USD
CY2012 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1059000 USD
CY2013 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-1555000 USD
CY2014 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
13000 USD
CY2012 us-gaap Interest Expense
InterestExpense
1729000 USD
CY2013 us-gaap Interest Expense
InterestExpense
2366000 USD
CY2014 us-gaap Interest Expense
InterestExpense
3470000 USD
CY2012 us-gaap Interest Paid
InterestPaid
1502000 USD
CY2013 us-gaap Interest Paid
InterestPaid
1709000 USD
CY2014 us-gaap Interest Paid
InterestPaid
2674000 USD
CY2013Q4 us-gaap Inventory Net
InventoryNet
0 USD
CY2014Q4 us-gaap Inventory Net
InventoryNet
568000 USD
CY2012 us-gaap Investment Income Net
InvestmentIncomeNet
40000 USD
CY2013 us-gaap Investment Income Net
InvestmentIncomeNet
12000 USD
CY2014 us-gaap Investment Income Net
InvestmentIncomeNet
12000 USD
CY2012 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
64000 USD
CY2013 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
71000 USD
CY2014 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
289000 USD
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2900000 USD
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4300000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4500000 USD
CY2012Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2012-11-01
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
16535000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
11090000 USD
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
11873000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
18431000 USD
CY2012Q4 us-gaap Litigation Settlement Amount
LitigationSettlementAmount
3950000 USD
CY2013Q4 us-gaap Litigation Settlement Amount
LitigationSettlementAmount
12500000 USD
CY2013Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5600000 USD
CY2014Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
6446000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
7234000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive
1000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
3064000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
11447000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
10439000 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
14898000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
26263000 USD
CY2013Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1626000 USD
CY2014Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1636000 USD
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
32973000 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21650000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
50857000 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-907000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
7909000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6157000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-34551000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-29695000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-58044000 USD
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-38444000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-10489000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-13592000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-13870000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-1845000 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-39796000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-16642000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-17991000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-18327000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-20713000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-73673000 USD
CY2014 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2012 us-gaap Operating Expenses
OperatingExpenses
42907000 USD
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
11115000 USD
CY2013Q4 us-gaap Operating Expenses
OperatingExpenses
14071000 USD
CY2013 us-gaap Operating Expenses
OperatingExpenses
52116000 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
15784000 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
17262000 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
17346000 USD
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
13300000 USD
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
13630000 USD
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
20155000 USD
CY2014 us-gaap Operating Expenses
OperatingExpenses
70547000 USD
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-36885000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-10020000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13160000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-13434000 USD
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-13902000 USD
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-50516000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-15684000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-17217000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-17132000 USD
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-19975000 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
-70008000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
58563000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
3995000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
1712000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
4350000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
4253000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4167000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4085000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
37713000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
631000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
0 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
0 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
481000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
600000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
0 USD
CY2012 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
635000 USD
CY2013 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
550000 USD
CY2014 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
568000 USD
CY2013Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
205900000 USD
CY2014Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
264100000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
495000 USD
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
589000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
86000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
120000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
100000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
472000 USD
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
130000 USD
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
574000 USD
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-207000 USD
CY2013Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
71000 USD
CY2014Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
68000 USD
CY2012 us-gaap Paid In Kind Interest
PaidInKindInterest
354000 USD
CY2013 us-gaap Paid In Kind Interest
PaidInKindInterest
502000 USD
CY2014 us-gaap Paid In Kind Interest
PaidInKindInterest
738000 USD
CY2012Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2200000 USD
CY2013Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
39000 USD
CY2014Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2500000 USD
CY2012 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
49547000 USD
CY2013 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
47182000 USD
CY2014 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
58849000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
642000 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
204000 USD
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28000 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
251000 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1191000 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
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37800000 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
CY2014 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37754000 USD
CY2012 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
6492000 USD
CY2013 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
CY2014 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
12699000 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
CY2014 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
65034000 USD
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
369000 USD
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
662000 USD
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1868000 USD
CY2014 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
68857 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3030000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3010000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
939000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
782000 USD
CY2013Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
379000 USD
CY2014Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
392000 USD
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
6194000 USD
CY2013 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2014 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1464000 USD
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
31922000 USD
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
36297000 USD
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
47946000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
679000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
679000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-254373000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-328046000 USD
CY2012 us-gaap Revenues
Revenues
6022000 USD
CY2013Q1 us-gaap Revenues
Revenues
1095000 USD
CY2013Q2 us-gaap Revenues
Revenues
140000 USD
CY2013Q3 us-gaap Revenues
Revenues
196000 USD
CY2013Q4 us-gaap Revenues
Revenues
169000 USD
CY2013 us-gaap Revenues
Revenues
1600000 USD
CY2014Q1 us-gaap Revenues
Revenues
100000 USD
CY2014Q2 us-gaap Revenues
Revenues
45000 USD
CY2014Q3 us-gaap Revenues
Revenues
214000 USD
CY2014Q4 us-gaap Revenues
Revenues
180000 USD
CY2014 us-gaap Revenues
Revenues
539000 USD
CY2014Q4 us-gaap Security Deposit
SecurityDeposit
679000 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
4281000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
6252000 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
8918000 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
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.86
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.88
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.73
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
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0187
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5166081 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.63
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
578000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1100000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2900000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
313381 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
10.30
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
2005850 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.35
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.87
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.39
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
144348000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6969303 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8364469 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.38
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.52
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
139877000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
8047969 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
7.40
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.06
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.72
CY2012 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
28000 shares
CY2013 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
40000 shares
CY2014 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
86500 shares
CY2014Q1 us-gaap Share Price
SharePrice
11.50
CY2012Q3 us-gaap Share Price
SharePrice
10.25
CY2013Q2 us-gaap Share Price
SharePrice
4.14
CY2012 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
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M3D
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
98949000 USD
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y8M8D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y11M26D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y10M27D
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
CY2014Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3500000 shares
CY2014 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
28653 shares
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
297303 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
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
37754000 USD
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
369000 USD
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
662000 USD
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1800000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
-5554000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
-6531000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
-18384000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
-42654000 USD
CY2013Q4 us-gaap Tax Credit Carryforward Deferred Tax Asset
TaxCreditCarryforwardDeferredTaxAsset
5707000 USD
CY2014Q4 us-gaap Tax Credit Carryforward Deferred Tax Asset
TaxCreditCarryforwardDeferredTaxAsset
9569000 USD
CY2013 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2014 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
212000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
212000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
212000 USD
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
13600000 USD
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
14500000 USD
CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
25800000 USD
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24155690 shares
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28560360 shares
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33234294 shares
CY2014 us-gaap Nature Of Operations
NatureOfOperations
<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 biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. Our marketed drug product Omidria</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#8482;</sup></font><font style="font-family:inherit;font-size:10pt;"> (phenylephrine and ketorolac injection) 1%/0.3% is approved in the U.S. for use during cataract surgery or intraocular lens replacement (IOL replacement surgery) to maintain pupil size by preventing intraoperative miosis (pupil constriction) and to reduce postoperative ocular pain. Omidria is 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, which is designed to improve clinical outcomes of patients undergoing ophthalmological, arthroscopic, urological and other surgical procedures, and is based on low-dose combinations of FDA-approved therapeutic agents delivered directly to the surgical site throughout the duration of the procedure to inhibit preemptively inflammation and other problems caused by surgical trauma and to provide clinical benefits both during and after surgery.</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;">Omidria was approved by the U.S. Food and Drug Administration (FDA) in May&#160;2014 for use during cataract surgery or IOL replacement surgery to maintain pupil size by preventing intraoperative miosis (pupil constriction) and to reduce postoperative ocular pain. In October 2014 we were granted transitional pass-through reimbursement status from the Centers for Medicare and Medicaid Services (CMS) for Omidria, effective January&#160;1, 2015. Pass-through status allows for separate payment under Medicare Part B for new drugs and other medical technologies that meet specific criteria. We commenced a controlled launch of Omidria to a small number of surgeons in the U.S. in February 2015, with the broad U.S. launch of the product anticipated in early April 2015.</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;">In September 2013, we submitted a Marketing Authorisation Application (MAA) to the European Medicines Agency (EMA) for Omidria for use in patients undergoing IOL replacement surgery. In the EU and other international territories, we plan to enter into one or more partnerships for the marketing and distribution of Omidria. Assuming approval of our MAA for Omidria and success in partnering for Omidria in Europe, we anticipate the initiation of EU marketing and sales of Omidria in 2015.</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have six clinical-stage development programs in our pipeline, which also includes a diverse group of preclinical programs as well as two additional platforms: one capable of unlocking new G protein-coupled receptor (GPCR) drug targets and the other used to generate antibodies. For Omidria and each of our product candidates and our programs, we have retained all manufacturing, marketing and distribution rights.</font></div></div>
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;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-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 trials 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>

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0001285819-15-000003.txt Edgar Link pending
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