Nanosphere 10-Q 16 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 06, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	NSPH
Entity Registrant Name	NANOSPHERE INC
Entity Central Index Key	1,105,184
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		13,544,248

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 13,400	$ 15,107
Restricted cash	5,000	4,000
Accounts receivable - net of allowance for doubtful accounts	4,248	4,266
Inventories	5,831	6,061
Other current assets	588	403
Total Current Assets	29,067	29,837
Property and equipment - net of accumulated depreciation	8,899	8,895
Intangible Assets - net of accumulated amortization	1,744	1,823
Other Assets	75	75
Total Assets	39,785	40,630
Current Liabilities:
Accounts payable	2,209	1,769
Accrued compensation	1,377	1,628
Other current liabilities	3,355	3,313
Debt - net	20,552	15,340
Total Current Liabilities	27,493	22,050
Total Liabilities	27,493	22,050
STOCKHOLDERS' EQUITY:
Common stock, $0.01 par value; 150,000,000 shares authorized; 12,270,248 shares and 11,570,248 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	123	116
Additional paid-in capital	467,443	466,958
Accumulated deficit	(459,065)	(452,497)
Total Stockholders’ Equity	12,292	18,580
Total Liabilities and Stockholders' Equity	39,785	40,630
Series C
STOCKHOLDERS' EQUITY:
Convertible preferred stock	$ 3,791	$ 4,003

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
common stock, par value (usd per share)	$ 0.01	$ 0.01
common stock, shares authorized (shares)	150,000,000	150,000,000
common stock, shares issued (shares)	12,270,248	11,570,248
common stock, shares outstanding (shares)	12,270,248	11,570,248
preferred stock, par value (usd per share)	$ 0.01	$ 0.01
preferred stock, shares authorized (shares)	10,000,000	10,000,000
preferred stock, shares issued (shares)	8,348.8
Series C
preferred stock, shares issued (shares)	8,384.8	8,341.8
Preferred stock, shares outstanding (shares)	8,384.8	8,341.8

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Product sales	$ 6,589	$ 4,618
Total revenue	6,589	4,618
Costs and Expenses:
Cost of sales	3,540	2,486
Research and development	3,744	3,640
Sales, general, and administrative	4,911	5,226
Restructuring costs	0	513
Total costs and expenses	12,195	11,865
Loss from Operations	(5,606)	(7,247)
Other income (expense):
Interest expense	(971)	(287)
Other income	9	1
Total other expense	(962)	(286)
Net Loss and Comprehensive Loss	(6,568)	(7,533)
Deemed dividend on Series C convertible preferred stock, due to beneficial conversion feature	(117)	0
Loss Attributable to Common Shareholders	$ (6,685)	$ (7,533)
Net loss per common share - basic and diluted	$ (0.55)	$ (1.29)
Weighted average number of common shares outstanding - basic and diluted	12,114	5,842

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES:
Net loss	$ (6,568)	$ (7,533)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	561	417
Amortization of intangible assets	79	82
Amortization of financing costs and accretion of debt discount	242	66
Share-based compensation	280	403
Provision for bad debt	(3)	102
Restructuring costs	0	513
Changes in operating assets and liabilities:
Accounts receivable	21	807
Inventories	37	(861)
Other current assets	(185)	(453)
Accounts payable	440	777
Accrued and other current liabilities	(209)	49
Net cash used in operating activities	(5,305)	(5,631)
INVESTING ACTIVITIES:
Purchases of property and equipment	(372)	(271)
Restricted cash	(1,000)	0
Net cash used in investing activities	(1,372)	(271)
FINANCING ACTIVITIES:
Proceeds from the issuance of debt	5,000	0
Payments on debt	0	(927)
Payment of debt issuance costs	(30)	0
Net cash provided by financing activities	4,970	(927)
Net decrease in cash and cash equivalents	(1,707)	(6,829)
Cash and cash equivalents - beginning of period	15,107
Cash and cash equivalents - end of period	13,400	14,224
NONCASH INVESTING AND FINANCING ACTIVITIES:
Reclassification of property and equipment to inventory	193	8
Conversion of convertible Series C preferred stock to common stock	329	0
Deemed dividend on conversion of preferred stock to common stock	117	0
SUPPLEMENTAL DISCLOSURE:
Cash paid for interest	$ 632	$ 222

Condensed Statement of Stockhol

Condensed Statement of Stockholders Equity Statement - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Convertible Preferred StockSeries C	Common Stock	Additional Paid in Capital	Accum. Deficit
Balance beginning of period, shares at Dec. 31, 2015		9	11,571
Balance beginning of period at Dec. 31, 2015	$ 18,580	$ 4,003	$ 116	$ 466,958	$ (452,497)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Deemed dividend on conversion of preferred stock to common stock		117		(117)
Conversion of convertible preferred stock to common stock (shares)			700
Conversion of convertible preferred stock to common stock		$ (329)	$ 7	322
Share-based compensation expense	280			280
Net loss	(6,568)				(6,568)
Balance end of period, shares at Mar. 31, 2016		9	12,271
Balance end of period at Mar. 31, 2016	$ 12,292	$ 3,791	$ 123	$ 467,443	$ (459,065)

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Description of Business and Significant Accounting Policies	Description of Business and Significant Accounting Policies Nanosphere, Inc. (the “Company”) develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene System, that enables simple, low cost, and highly sensitive genomic and protein testing on a single platform. Basis of Presentation - The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and in conformity with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. However, in the opinion of management, all adjustments, consisting only of normal recurring adjustments, unless otherwise noted herein, necessary to present fairly the results of operations, financial position and cash flows have been made. Therefore, these condensed financial statements should be read in conjunction with the Company’s most recent audited financial statements for the year ended December 31, 2015 and notes thereto included in the Company’s Annual Report on Form 10-K. The results of operations for any interim period are not necessarily indicative of the results of operations expected for the full year. The accompanying condensed financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Use of Estimates - The preparation of financial statements in conformity with U.S GAAP which requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the notes thereto. The Company’s significant estimates included in the preparation of the condensed financial statements are related to inventories, property and equipment, intangible assets, debt, preferred stock, warrants, and share-based compensation. Actual results could differ from those estimates. Restricted Cash - Any cash that is legally restricted from use is recorded in restricted cash on the condensed balance sheets. The new term loan facility (See Note 2) requires the Company to maintain a minimum account balance which is considered to be restricted cash. The restricted cash balance was $5.0 million, and $4.0 million, on March 31, 2016 , and December 31, 2015 , respectively. This increase in the restricted cash balance is due to the terms outlined in the amended loan agreement, and a requirement to draw down the second tranche of debt. Deferred Financing Costs - Costs incurred to issue debt are deferred and amortized as a component of interest expense using the effective interest method over the term of the related debt agreement. Amortization expense of deferred financing costs was $0.2 million, and less than $0.1 million for the three month periods ended March 31, 2016 , and 2015 , respectively. Fair Value of Financial Instruments - The carrying amount of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, and accounts payable approximate their fair values. The fair value of debt was $18.5 million, and $14.7 million at March 31, 2016 and December 31, 2015 , respectively. The carrying value of the debt was $25.0 million and $20.0 million as of March 31, 2016 and December 31, 2015, respectively. Reverse Stock Split - On April 7, 2015, the Company's Board of Directors and shareholders approved a 20 -to-1 reverse split of the Company's issued and outstanding common stock, effective at the close of business on April 8, 2015. The effect of this event has been reflected in all the share quantities and per share amounts in these financial statements. The shares of common stock authorized remained at 150 million and retained a par value of $0.01 . Debt, with Detachable Warrants - The Company accounts for debt with detachable warrants in accordance with ASC 470: Debt and allocated proceeds received to the debt and detachable warrants based on relative fair values. The Company assessed the classification of its common stock purchase warrants as of the date of the transaction and determined that such instruments meet the criteria for equity classification. The warrants are reported on the condensed balance sheet as a component of additional paid in capital within stockholders’ equity. The Company recorded the related issue costs and value ascribed to the warrants as a reduction of the debt. The discount is amortized utilizing the effective interest method over the term of the debt. The unamortized discount, if any, upon repayment of the notes will be expensed to interest expense. In accordance with ASC Subtopic 470-20, the Company determined the effective interest rate on the first tranche of debt was 22.0% , and 13.2% on the second tranche. The Company has also evaluated its debt and warrants in accordance with the provisions of ASC 815, Derivatives and Hedging , including consideration of embedded derivatives requiring bifurcation. Evaluation Equipment - The Company monitors inventory held at customer sites for evaluation (“Evaluation Equipment”). Upon determination that such Evaluation Equipment is no longer available for sale and is to remain with the customer, Evaluation Equipment is reclassified to property plant and equipment as leased equipment, which is typically after twelve months following initial placement. During the three month periods ended March 31, 2016, the Company reclassified $0.3 million of Evaluation Equipment to property, plant, and equipment. The Company commences depreciation on the date of transfer and such Evaluation Equipment is depreciated over a three year period. Recent Accounting Pronouncements : In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"). ASU 2016-02 requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company currently in the process of evaluating the impact of adoption of ASU 2016-02 on the condensed financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations” (“ASU 2016-08”). The purpose of ASU 2016-08 is to clarify the implementation of guidance on principal versus agent considerations. The amendments in ASU 2016-08 are effective for interim and annual reporting periods beginning after December 15, 2017. The Company is currently assessing the impact of ASU 2016-08 on the condensed financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). The amendment is to simplify several aspects of the accounting for share-based payment transactions including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in ASU 2016-09 are effective for interim and annual reporting periods beginning after December 15, 2016. The Company is currently assessing the impact of ASU 2016-09 on the condensed financial statements and related disclosures.

Liquidity and Capital Resources

Liquidity and Capital Resources	3 Months Ended
	Mar. 31, 2016
Liquidity and Capital Resources [Abstract]
Liquidity, Capital Resources and Recent Developments	Liquidity, Capital Resources and Recent Developments Liquidity and Capital Resources As of March 31, 2016 , the Company has incurred net losses of $459.1 million since inception, and has funded those losses primarily through the sale and issuance of equity securities and secondarily through the issuance of debt. While the Company is currently in the commercialization stage of operations, the Company has not yet achieved profitability and anticipates that it will continue to incur net losses in the foreseeable future. The Company had cash and cash equivalents of $18.4 million, of which $5.0 million is restricted cash as of March 31, 2016 and net cash used in operating activities of $5.3 million for the three month period ended March 31, 2016 . The Company's current and anticipated cash resources will likely be insufficient to support currently forecasted operations within one year after the date that the financial statements are issued, and therefore, the Company will need additional debt or equity financing in the future to execute its business plan and to be able to continue as a going concern. Capital outlays and operating expenditures that would otherwise increase over the next twelve months as the Company expands its infrastructure, manufacturing capacity and research and development activities to support commercialization of its products may need to be curtailed which may not be advantageous for the Company's business operations. Many of the aspects of the Company’s forecasts involve management’s judgments and estimates that include factors that could be beyond the Company's control and actual results could differ. These and other factors could cause the Company's forecasted plans to be unsuccessful which could have a material adverse effect on the Company's operating results, financial condition, and liquidity and causes substantial doubt about the Company’s ability to continue as a going concern. Term Loan Facility with NSPH Funding LLC and SWK Funding LLC On May 14, 2015, (the "Closing Date") the Company entered into a Loan and Security Agreement ("Loan Agreement") with NSPH Funding LLC, an affiliate of Life Sciences Alternative Funding, LLC, and SWK Funding LLC, as lenders (together, the “Lenders”) providing for the Lenders to advance term loans in an aggregate amount of up to $30.0 million (the “Loan”) to the Company. NSPH Funding LLC also agreed to act as agent under the loan facility (the “Collateral Agent”). The Company immediately drew down $20.0 million of the Loan and an additional $5.0 million on February 5, 2016. In connection with the additional draw down, the minimum account balance in the Company’s accounts that are subject to a control agreement in favor of the Collateral Agent, increased to $5.0 million. The Loan Agreement requires that the Company maintain, as of the last day of each fiscal quarter of the Company beginning in the first fiscal quarter of 2016, a minimum adjusted cash flow (the “Cash Flow Requirement”) which requirement increases each quarter. For example, in the first fiscal quarter of 2016, the Company must maintain negative adjusted cash flow of not less than $6.5 million. The Cash Flow Requirement requires that the Company achieve a positive adjusted cash flow of $0.2 million by the last day of the quarter that begins on October 1, 2017. If the Company fails to satisfy the required Cash Flow Requirement for any two out of three successive quarters, the date on which the first amortization payment is due under the Loan Agreement would accelerate to the next following payment date, and the minimum quarterly amortization rate would increase to approximately $3.3 million , resulting in a final, accelerated maturity for the term loan by the end of the sixth fiscal quarter thereafter. The Company met the Cash Flow Requirement for the fiscal quarter ended March 31, 2016. The Company also will receive another advance in an amount up to $5,000,000 if: (i) the Company submits a 510(k) premarket notification submission to the FDA concerning its diagnostic tests of its next generation product platform (currently in development) before September 30, 2016; (ii) the Company also achieves the applicable Cash Flow Requirement for each fiscal quarter during the applicable draw period; and (iii) if the Company has satisfied both of the foregoing tests, it has submitted its draw request on or before November 15, 2016. Substantially all assets of the Company serve as collateral to the Loan Agreement. The Loan Agreement restricts our ability to pay cash dividends and certain other payments. The Loan agreement also provides that a material adverse change in the Company’s financial condition could trigger an event of default. If an event of default occurs all amounts owing under the Loan Agreement would become immediately due and payable and the Collateral Agent, could move against the collateral, including the Company’s cash and cash equivalents. While the Company does not believe that such an event of default has occurred, the Lenders may take a contrary position. If an event of default were to occur, such actions by the Collateral Agent would have an immediate and substantial negative effect on the Company’s ability to continue as a going concern, as it would essentially eliminate its cash reserves. The Company has not been notified of an event of default as of the date of issuance of these financial statements. As there is a more than remote likelihood that the Lenders may be entitled to declare an event of default under this clause in the next twelve months, the principal due subsequent to March 31, 2016 have been presented as a current liability. Series A Convertible Preferred Stock Offering On May 14, 2015, the Company issued $4.4 million of series A convertible preferred stock (the "Series A Preferred Stock"), which are convertible into a total of 1,168,659 shares of common stock at a conversion price of $3.765 , and warrants to purchase shares of common stock exercisable for up to 1,168,659 additional shares of common stock, in the aggregate at exercise price of $3.65 per share and are exercisable for a period of 5 years commencing November 14, 2015 until November 14, 2020 (the "Series A Investor Warrants"). In connection with the Series A Offering, and as partial payment of the placement agent’s fees in connection therewith, the Company issued to the placement agent and certain of its principals warrants to purchase an aggregate of 70,120 shares of common stock at an exercise price of $4.45 per share (the “Series A Placement Agent Warrants, and together with the Series A Investor Warrants, the “Series A Warrants”) with a fair value of $0.2 million at issuance. The Series A Warrants are exercisable for 4.5 to 5 years commencing November 14, 2015. At the time of issuance, the relative fair value of the Series A Investor Warrants was estimated at $1.6 million using the Black-Scholes model and recorded as issuance costs. The Series A Preferred Stock is perpetual and does not have a required dividend right or voting rights and has a liquidation preference of $0.01 per share. As of December 31, 2015, all 4,400 shares of Series A Preferred Stock had been converted into 1,168,659 shares of common stock. Net proceeds from the Series A Offering after placement agent fees and other offering expenses were approximately $4.0 million. Series B Convertible Preferred Stock Offering On June 11, 2015, the Company issued $4.4 million of series B convertible preferred stock (the “Series B Preferred Stock”) (which are convertible into a total of 1,203,800 shares of common stock at a conversion price of $3.655 ) and warrants to purchase shares of common stock exercisable for up to 1,203,800 additional shares of common stock, in the aggregate at an exercise price of $3.54 per share and are exercisable for a period of 5 years commencing December 11, 2015 until December 11, 2020 (the “Series B Investor Warrants”). In connection with the Series B Offering, and as partial payment of the placement agent’s fees in connection therewith, the Company issued to the placement agent and certain of its principals warrants to purchase an aggregate of 72,230 shares of common stock at an exercise price of $3.54 per share (the “Series B Placement Agent Warrants, and together with the Series B Investor Warrants, the “Series B Warrants”) with a fair value of $0.2 million at issuance. The Series B Warrants are exercisable for 4.5 to 5 years commencing December 11, 2015. At the time of issuance, the relative fair value of the Series B Investor Warrants was estimated at $1.6 million using the Black-Scholes model and recorded as issuance costs. The Series B Preferred Stock is perpetual and does not have a required dividend right or voting rights and has a liquidation preference of $0.01 per share. As of December 31, 2015, all 4,400 shares of Series B Preferred Stock has been converted into 1,203,800 shares of common stock. Net proceeds from the Series B Offering after placement agent fees and other offering expenses were approximately $4.0 million. Common Stock and Series C Convertible Preferred Stock Offering On December 22, 2015, the Company completed a registered offering (the "Series C Offering") in which it issued 2,298,744 shares of its common stock at a price of $0.47 per share, with each share of common stock coupled with a 5 -year warrant to purchase one share of common stock, at an exercise price of $0.70 per share and are exercisable for a period of 5 years until December 22, 2020 (the “Series C Investor Warrants”). These securities were sold in the form of a Class A Unit but were immediately separable and were issued separately at the closing. For certain investors who would otherwise hold more than 4.99% of the Company’s common stock following the Series C Offering, the Company issued to such investors, in the form of Class B Units, 8,919.59044 shares of a new class of preferred stock designated Series C Convertible Preferred Stock (the “Series C Preferred Stock”) with a stated value of $1,000 and which are convertible into 18,977,852 shares of the Company’s common stock at a conversion price equal to $0.47 per share of common stock, together with Series C Investor Warrants to purchase up to 18,977,852 shares of the Company’s common stock. These securities were sold in the form of a Class B Unit but were immediately separable and were issued separately at the closing. In connection with the Series C Offering, and as partial payment of the placement agent’s fees in connection therewith, the Company issued to the placement agent and certain of its principals warrants to purchase an aggregate of 1,276,596 shares of common stock at an exercise price of $0.517 per share (the "Series C Placement Agent Warrants", and together with the Series C Investor Warrants, the "Series C Warrants") with a fair value of $0.7 million at issuance. The Series C Warrants were exercisable immediately upon issuance. At the time of issuance, the relative fair value of the Series C Investor Warrants was estimated at $10.5 million using the Black-Scholes model and recorded as issuance costs. The Series C Preferred Stock is perpetual and does not have a required dividend right or voting rights and has a liquidation preference of $0.01 per share. As of December 31, 2015, 487.790 shares of Series C Preferred Stock had been converted into 1,037,852 shares of common stock. As of March 31, 2016, an additional 329.0 shares of Series C Preferred stock had been converted to 700,000 of common stock. Net proceeds from the Series C Offering of Class A Units and Class B Units after placement agent fees and other offering expenses was approximately $1.0 million, and $8.1 million, respectively. The Lender Warrants, Series A Warrants, Series B Warrants and Series C Warrants can be settled in shares of our common stock by cashless exercise in lieu of payment of the exercise price at the option of the holder. The warrants contain no mandatory redemption features and no repurchase obligations requiring the transferring of assets and are for a fixed number of shares, except for customary anti-dilution adjustments.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the Company's debt as of March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 NSPH Funding LLC and SWK Funding LLC $ 25,000 $ 20,000 Debt discount, inclusive of issue costs (4,448 ) (4,660 ) Debt $ 20,552 $ 15,340 The following table sets forth the contractual future principal payments as of March 31, 2016 : Years Ending December 31 2016 $ — 2017 1,250 2018 4,375 2019 7,667 2020 8,333 2021 3,375 Total $ 25,000

Net Loss Per Common Share

Net Loss Per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Loss Per Common Share	Net Loss Per Common Share Basic and diluted net loss, per common share have been calculated in accordance with ASC Topic 260, “Earnings Per Share” , for the three month periods ended March 31, 2016 and 2015 . As the Company had a net loss in each of the periods presented, basic and diluted net loss per common share are the same. The computation of basic net loss per common share for the three month periods ended March 31, 2016 and 2015 excluded 324,000 and 19,500 shares of restricted stock, respectively (see Note 5). While these restricted shares of stock are included in outstanding shares on the condensed balance sheet, these restricted shares are excluded from basic net loss per common share in accordance with ASC Topic 260 due to the forfeiture provisions associated with these shares. The computations of diluted net loss per common share for the three month periods ended March 31, 2016 and 2015 did not include the outstanding shares of restricted stock, options to acquire common stock, common stock warrants, and convertible preferred stock, as the inclusion of these securities would have been antidilutive: Three Months Ended March 31, 2016 2015 Restricted stock 324,000 19,500 Stock options 619,675 246,618 Common stock warrants 26,574,802 6,801 Convertible preferred stock (8,384.8 preferred shares that are convertible to 17,240,000 shares of common stock) 17,240,000 — 44,758,477 272,919

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	Mar. 31, 2016
Equity Incentive Plan	Equity Incentive Plan The Company’s board of directors has adopted and the shareholders have approved the Nanosphere, Inc. 2000 Equity Incentive Plan (the “2000 Plan”), the Nanosphere, Inc. 2007 Long-Term Incentive Plan (the “2007 Plan”) and the Nanosphere, Inc. 2014 Long-Term Incentive Plan (the “2014 Plan,” and together with the 2000 Plan and the 2007 Plan, the “Plans”). Upon adoption of the 2014 Plan at the Company’s annual meeting of shareholders on May 28, 2014, the 2000 Plan and 2007 Plan were terminated. The Plans authorize the compensation committee to grant stock options, share appreciation rights, restricted shares, restricted share units, unrestricted shares, incentive stock options, deferred share units and performance awards. Option awards are generally granted with an exercise price equal to or above the fair value of the Company’s common stock at the date of grant with ten year contractual terms. Certain options vest ratably, generally over three to four years of service, while other options cliff vest after seven years of service but provide for accelerated vesting contingent upon the achievement of various company-wide performance goals, such as decreasing time to market for new products and entering into corporate collaborations (as defined in the option grant agreements). For these “accelerated vesting” options, 20% - 25% of the granted option shares will vest upon the achievement of each of four or five milestones as defined in the option grant agreements, with any remaining unvested options vesting on the seven year anniversary of the option grant dates. Approximately 3% of the options granted and outstanding contain “accelerated vesting” provisions. The fair values of the Company’s option awards granted during the three months ended March 31, 2016 are not material. Total compensation cost recognized for all stock option awards was $0.3 million, and $0.2 million in the three month periods ended March 31, 2016 , and 2015, respectively. As of March 31, 2016 , the total compensation cost not yet recognized related to the non-vested stock option awards is approximately $0.8 million, which is expected to be recognized over the next 2.8 years , with a weighted average term of 0.8 years. Certain milestone events are deemed probable of achievement prior to their seven year vesting term, and the acceleration of vesting resulting from the achievement of such milestone events has been factored into the weighted average vesting term. While the Company does not have a formally established policy, as a practice, the Company has delivered newly issued shares of its common stock upon the exercise of stock options. A summary of option activity under the plans as of March 31, 2016 , for the three month period ended is presented below: Options Number of Weighted Weighted Aggregate Outstanding - January 1, 2016 632,204 $ 20.81 Granted 4,619 $ 0.69 Exercised — $ — Expired — $ — Forfeited (17,148 ) $ (63.95 ) Outstanding - March 31, 2016 619,675 $ 19.46 8.30 $ 572 Exercisable - March 31, 2016 152,021 $ 50.00 5.70 $ 25 Vested and Expected to Vest - March 31, 2016 606,851 $ 19.46 8.30 $ 572 No options were exercised in the three month periods ended March 31, 2016 , and 2015, respectively. Included in the number of options outstanding at March 31, 2016 are 18,034 options with a weighted average exercise price of $120.96 per share, which have accelerated vesting provisions based on the criteria mentioned above. The total fair value of shares vested during the three months ended March 31, 2016, and 2015, was less than $0.1 million and $0.9 million, respectively. A summary of the restricted shares activity under the plans as of March 31, 2016 , for the three month period ended is presented below: Restricted Stock Number of Outstanding - January 1, 2016 — Granted 324,000 Vested — Forfeited — Outstanding - March 31, 2016 324,000 The Company recognized less than $0.1 million, and $0.2 million of restricted stock compensation expense during the three month periods ended March 31, 2016, and 2015, respectively. Total stock based compensation for stock options and restricted stock is as follows (in thousands): Three months ended March 31, 2016 2015 Research and development $ 29 $ 49 Selling and general 251 354 Total $ 280 $ 403

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity On January 25, 2016, the Company received a deficiency letter from the Listing Qualifications Department of The NASDAQ Stock Market, notifying the Company that, for the last 30 consecutive business days, the closing bid price of the Company’s common stock has not been maintained at the minimum required closing bid price of at least $1.00 per share as required for continued listing on The NASDAQ Capital Market pursuant to Listing Rule 5550(a)(2) (“Minimum Bid Price Rule”). In accordance with NASDAQ Listing Rules, the Company has been given 180 calendar days, or until July 25, 2016, to regain compliance with the Minimum Bid Price. If, at any time before July 25, 2016, the closing bid price of the Company’s common stock is at least $1.00 for a minimum of 10 consecutive business days, NASDAQ will provide written notification to the Company that it complies with the Minimum Bid Price Rule. During this 180 calendar day period, the Company also may submit a plan to regain compliance to NASDAQ and may request up to an additional 180 calendar days to complete the plan. There can be no assurance that the Company will regain compliance or maintain the listing of its common stock on the NASDAQ Capital Market or qualify to transfer the listing of its common stock to another national securities exchange or stock market.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets, consisting of purchased intellectual property, as of March 31, 2016 and December 31, 2015 comprise the following (in thousands): March 31, 2016 December 31, 2015 Cost Accumulated Net Cost Accumulated Net Intellectual property - licenses $ 3,331 $ (1,778 ) $ 1,553 $ 3,331 $ (1,710 ) $ 1,621 Patents 455 (264 ) 191 455 (253 ) 202 Total $ 3,786 $ (2,042 ) $ 1,744 $ 3,786 $ (1,963 ) $ 1,823 The Company reviews its long-lived assets for impairment as a single asset group whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company will continue to monitor the recoverability of its long-lived assets. If results continue to decline, it could result in revisions to management’s estimates of the fair value of the asset group and may result in future charges. There were no license costs written off as of March 31, 2016 , or December 31, 2015. Amortization expense for intangible assets was $0.1 million for each of the three month periods ended March 31, 2016 , and 2015 respectively. Estimated future amortization expense is as follows (in thousands): Years Ending December 31 2016 (April to December) $ 238 2017 301 2018 219 2019 219 Thereafter 767 Licenses are amortized from the date of initial use of the licensed technology and such amortization continues over the remaining life of the license. The future amortization expense reflected above is based on licenses for which the licensed technology is being used as of March 31, 2016 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In November 2013, the Company exercised its renewal option on the lease at its corporate headquarters, and the lease term was extended to May 2017. Rent and operating expenses associated with the office and laboratory space were $0.4 million for both of the three month periods ended March 31, 2016 , and 2015 , respectively. On January 1, 2015 the Company was leasing 40,749 square feet of space for its administrative, executive, research and development, and manufacturing functions. On February 16, 2015, the Company exercised an option under its lease to acquire an additional 7,721 square feet of space at its corporate headquarters to expand its manufacturing facility, now leasing a total of 48,470 square feet. With this additional space, the annual future minimum obligations, including common area maintenance (CAM), for the operating leases as of March 31, 2016 , are as follows: Years Ending December 31 Operating 2016 (April to December) $ 611 2017 349 Total minimum lease payments 960

Restructuring Costs

Restructuring Costs	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs In January 2015, the Company eliminated certain full time positions, and recorded a restructuring expense of $0.5 million for severance. The Company had paid the severance through September 2015. There were no restructuring costs recorded for the period ended March 31, 2016.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events From April 1, 2016 through May 16, 2016, an additional 235.0 shares of Series C Preferred Stock had been converted into 500,000 shares of common stock. On April 14, 2016, the Compensation Committee (the “Committee”) of the Company’s Board of Directors awarded shares of restricted common stock (the “Executive Stock Awards”) to Michael McGarrity, the Company’s President and Chief Executive Officer, Kenneth Bahk, the Company’s Chief Strategy Officer, and Farzana Moinuddin, the Company’s Acting Principal Financial Officer and Chief Accounting Officer, and Secretary, in the amounts of 225,000 , 50,000 , and 10,000 shares, respectively. The Executive Stock Awards were issued on April 20, 2016 and shall vest and become exercisable in twelve, equal, quarterly installments over a three years period on January 1, April 1, July 1 and October 1 each year commencing July 1, 2016, subject to continued employment, forfeiture and cancellation upon a termination for cause, and acceleration upon a change in control of the Company. On May 15, 2016, the Company, Luminex Corporation, a Delaware corporation (“Luminex”), and Commodore Acquisition, Inc., a Delaware corporation and a wholly-owned subsidiary of Luminex (“Merger Subsidiary”) entered into an Agreement and Plan of Merger (the “Merger Agreement”). Pursuant to the Merger Agreement, and upon the terms and subject to the conditions thereof, Luminex has agreed that it will commence a cash tender offer (the “Offer”) to acquire all of the shares of the Company’s common stock, par value $0.01 per share (“Common Stock”) for a purchase price of $1.35 per share, net to the holders thereof, in cash (the “Offer Price”), without interest, subject to the terms and conditions of the Merger Agreement. The Merger Agreement may be terminated under certain circumstances, including in specified circumstances in connection with superior proposals. Upon the termination of the Merger Agreement, under specified circumstances, the Company will be required to pay Luminex a termination fee of $2,250,000 . Luminex has agreed to commence the Offer as promptly as reasonably practicable from the date of the Merger Agreement (but in no event later than fifteen ( 15 ) business days from the date of the Merger Agreement). The consummation of the Offer will be conditioned on (i) at least a majority of the issued and outstanding shares of the Common Stock as of the merger date having been validly tendered into and not withdrawn from the Offer, and (ii) other customary conditions. The Merger Agreement provides that, as soon as practicable (but not more than three ( 3 ) business days) following the consummation of the Offer, Merger Subsidiary will merge with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly-owned subsidiary of Luminex. The Merger will be governed by Section 251(h) of the General Corporation Law of the State of Delaware (“DGCL”), with no stockholder vote required to consummate the Merger. The Merger Agreement also provides for the waiver of the non-compete covenants in the employment agreements of Michael McGarrity, the Company’s President and Chief Executive Officer, and Kenneth Bahk, the Company’s Chief Strategy Officer. For a complete description of the terms and conditions of the Merger Agreement, please see the Company’s Current Report on Form 8-K as filed with the SEC on May 16, 2016. A copy of the Merger Agreement is filed as Exhibit 2.1 to this Quarterly Report on Form 10-Q.

Supplemental Financial Informat

Supplemental Financial Information	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Financial Information	Supplemental Financial Information Inventories (in thousands): March 31, 2016 December 31, 2015 Raw materials $ 2,785 $ 3,183 Work-in-process 439 234 Finished goods 2,607 2,644 Inventories $ 5,831 $ 6,061 Accounts Receivable (in thousands): March 31, 2016 December 31, 2015 Accounts receivable $ 4,446 $ 4,467 Allowance for doubtful accounts (198 ) (201 ) Accounts receivable - net $ 4,248 $ 4,266 Property and Equipment (in thousands): March 31, 2016 December 31, 2015 Property and equipment - at cost $ 22,062 $ 23,135 Less accumulated depreciation (16,966 ) (16,636 ) Construction-in-Progress 3,803 2,396 Property and equipment - net $ 8,899 $ 8,895 Other Current Liabilities (in thousands): March 31, 2016 December 31, 2015 Accrued clinical trial expenses $ 704 $ 236 Accrued license fees — — All other 2,651 3,077 Other current liabilities $ 3,355 $ 3,313 Three months ended March 31, Product Reporting: 2016 2015 Revenues: Instruments $ 538 $ 703 Consumables 6,051 3,915 Total revenues $ 6,589 $ 4,618

Description of Business and Sig

Description of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation - The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and in conformity with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. However, in the opinion of management, all adjustments, consisting only of normal recurring adjustments, unless otherwise noted herein, necessary to present fairly the results of operations, financial position and cash flows have been made. Therefore, these condensed financial statements should be read in conjunction with the Company’s most recent audited financial statements for the year ended December 31, 2015 and notes thereto included in the Company’s Annual Report on Form 10-K. The results of operations for any interim period are not necessarily indicative of the results of operations expected for the full year.
Use of Estimates	Use of Estimates - The preparation of financial statements in conformity with U.S GAAP which requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the notes thereto. The Company’s significant estimates included in the preparation of the condensed financial statements are related to inventories, property and equipment, intangible assets, debt, preferred stock, warrants, and share-based compensation. Actual results could differ from those estimates.
Deferred Financing Costs	Deferred Financing Costs - Costs incurred to issue debt are deferred and amortized as a component of interest expense using the effective interest method over the term of the related debt agreement.
Fair Value of Financial Instruments	Fair Value of Financial Instruments - The carrying amount of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, and accounts payable approximate their fair values.
New Accounting Pronouncements	Recent Accounting Pronouncements : In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"). ASU 2016-02 requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company currently in the process of evaluating the impact of adoption of ASU 2016-02 on the condensed financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations” (“ASU 2016-08”). The purpose of ASU 2016-08 is to clarify the implementation of guidance on principal versus agent considerations. The amendments in ASU 2016-08 are effective for interim and annual reporting periods beginning after December 15, 2017. The Company is currently assessing the impact of ASU 2016-08 on the condensed financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). The amendment is to simplify several aspects of the accounting for share-based payment transactions including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in ASU 2016-09 are effective for interim and annual reporting periods beginning after December 15, 2016. The Company is currently assessing the impact of ASU 2016-09 on the condensed financial statements and related disclosures.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the Company's debt as of March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 NSPH Funding LLC and SWK Funding LLC $ 25,000 $ 20,000 Debt discount, inclusive of issue costs (4,448 ) (4,660 ) Debt $ 20,552 $ 15,340
Schedule of Maturities of Long-term Debt	The following table sets forth the contractual future principal payments as of March 31, 2016 : Years Ending December 31 2016 $ — 2017 1,250 2018 4,375 2019 7,667 2020 8,333 2021 3,375 Total $ 25,000

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Antidilutive Common Stock and Common Stock Warrants	The computations of diluted net loss per common share for the three month periods ended March 31, 2016 and 2015 did not include the outstanding shares of restricted stock, options to acquire common stock, common stock warrants, and convertible preferred stock, as the inclusion of these securities would have been antidilutive: Three Months Ended March 31, 2016 2015 Restricted stock 324,000 19,500 Stock options 619,675 246,618 Common stock warrants 26,574,802 6,801 Convertible preferred stock (8,384.8 preferred shares that are convertible to 17,240,000 shares of common stock) 17,240,000 — 44,758,477 272,919

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2016
Summary of Option Activity	A summary of option activity under the plans as of March 31, 2016 , for the three month period ended is presented below: Options Number of Weighted Weighted Aggregate Outstanding - January 1, 2016 632,204 $ 20.81 Granted 4,619 $ 0.69 Exercised — $ — Expired — $ — Forfeited (17,148 ) $ (63.95 ) Outstanding - March 31, 2016 619,675 $ 19.46 8.30 $ 572 Exercisable - March 31, 2016 152,021 $ 50.00 5.70 $ 25 Vested and Expected to Vest - March 31, 2016 606,851 $ 19.46 8.30 $ 572
Summary of Restricted Stock Activity	A summary of the restricted shares activity under the plans as of March 31, 2016 , for the three month period ended is presented below: Restricted Stock Number of Outstanding - January 1, 2016 — Granted 324,000 Vested — Forfeited — Outstanding - March 31, 2016 324,000
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Total stock based compensation for stock options and restricted stock is as follows (in thousands): Three months ended March 31, 2016 2015 Research and development $ 29 $ 49 Selling and general 251 354 Total $ 280 $ 403

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Consisting of Purchased Intellectual Property	Intangible assets, consisting of purchased intellectual property, as of March 31, 2016 and December 31, 2015 comprise the following (in thousands): March 31, 2016 December 31, 2015 Cost Accumulated Net Cost Accumulated Net Intellectual property - licenses $ 3,331 $ (1,778 ) $ 1,553 $ 3,331 $ (1,710 ) $ 1,621 Patents 455 (264 ) 191 455 (253 ) 202 Total $ 3,786 $ (2,042 ) $ 1,744 $ 3,786 $ (1,963 ) $ 1,823
Schedule of Estimated Future Amortization Expense	Estimated future amortization expense is as follows (in

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Annual Future Minimum Obligations for Operating Leases	With this additional space, the annual future minimum obligations, including common area maintenance (CAM), for the operating leases as of March 31, 2016 , are as follows: Years Ending December 31 Operating 2016 (April to December) $ 611 2017 349 Total minimum lease payments 960

Restructuring Costs (Tables)

Restructuring Costs (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring Costs	There were no restructuring costs recorded for the period ended March 31, 2016.

Supplemental Financial Inform25

Supplemental Financial Information (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Inventories	Inventories (in thousands): March 31, 2016 December 31, 2015 Raw materials $ 2,785 $ 3,183 Work-in-process 439 234 Finished goods 2,607 2,644 Inventories $ 5,831 $ 6,061
Accounts Receivable Net	Accounts Receivable (in thousands): March 31, 2016 December 31, 2015 Accounts receivable $ 4,446 $ 4,467 Allowance for doubtful accounts (198 ) (201 ) Accounts receivable - net $ 4,248 $ 4,266
Property and Equipment-Net	Property and Equipment (in thousands): March 31, 2016 December 31, 2015 Property and equipment - at cost $ 22,062 $ 23,135 Less accumulated depreciation (16,966 ) (16,636 ) Construction-in-Progress 3,803 2,396 Property and equipment - net $ 8,899 $ 8,895
Other Current Liabilities	Other Current Liabilities (in thousands): March 31, 2016 December 31, 2015 Accrued clinical trial expenses $ 704 $ 236 Accrued license fees — — All other 2,651 3,077 Other current liabilities $ 3,355 $ 3,313
Revenues	Three months ended March 31, Product Reporting: 2016 2015 Revenues: Instruments $ 538 $ 703 Consumables 6,051 3,915 Total revenues $ 6,589 $ 4,618

Description of Business and S26

Description of Business and Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Thousands	Apr. 08, 2015	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)$ / sharesshares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Restricted cash		$ 5,000		$ 4,000
Debt fair value		18,500		14,700
Debt carrying value		$ 25,000		$ 20,000
Conversion ratio	20
Common stock, shares authorized (shares) | shares		150,000,000		150,000,000
Common stock, par value (usd per share) | $ / shares		$ 0.01		$ 0.01
Debt - net		$ 20,552		$ 15,340
Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Amortization of deferred financing costs		$ 200	$ 100
Equipment Leased to Other Party
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Useful life (years)		3 years
Evaluation Equipment | Disposal Group, Held-for-sale, Not Discontinued Operations
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Reclassification from evaluation equipment to property, plant and equipment		$ 300
First Tranche
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Debt instrument, effective interest rate (percentage)		22.00%
Second Tranche
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Debt instrument, effective interest rate (percentage)		13.20%

Liquidity, Capital Resources an

Liquidity, Capital Resources and Recent Developments - Additional Information (Detail) - USD ($)

Mar. 31, 2016

Feb. 05, 2016

Dec. 31, 2015

Dec. 22, 2015

Jun. 11, 2015

May. 14, 2015

May. 11, 2015

Dec. 31, 2017

Mar. 31, 2016

Mar. 31, 2015

Dec. 31, 2015

Dec. 31, 2015

Liquidity and Capital Resources [Line Items]

Accumulated deficit

$ (459,065,000)

$ (452,497,000)

$ (459,065,000)

$ (452,497,000)

$ (452,497,000)

Total cash and cash equivalents, including restricted cash

18,400,000

18,400,000

Restricted cash

$ 5,000,000

$ 4,000,000

5,000,000

$ 4,000,000

$ 4,000,000

Net cash used in operating activities

$ (5,305,000)

$ (5,631,000)

Number of shares convertible into (shares)

17,240,000

Investor ownership percent

4.99%

Proceeds from issuance of equity

$ 0

$ 4,000,000

$ 4,000,000

Preferred stock, par value (usd per share)

$ 0.01

$ 0.01

$ 0.01

$ 0.01

$ 0.01

Convertible Preferred Stock

Liquidity and Capital Resources [Line Items]

Issuance of convertible preferred stock

$ 4,400,000

Share Price (usd per share)

$ 3.765

Liquidation preference per share (usd per share)

$ 0.01

Conversion of stock (shares)

4,400

Common Stock

Liquidity and Capital Resources [Line Items]

Number of shares convertible into (shares)

18,977,852

Conversion of stock, shares issued

700,000

1,037,852

1,168,659

1,203,800

1,168,659

Share Price (usd per share)

$ 0.47

Issuance of convertible preferred stock, shares

2,298,744

Price per share (usd per share)

$ 0.47

Series B Preferred Stock

Liquidity and Capital Resources [Line Items]

Issuance of convertible preferred stock

$ 4,400,000

Number of shares convertible into (shares)

1,203,800

Share Price (usd per share)

$ 3.655

Preferred stock, par value (usd per share)

$ 0.01

Conversion of stock (shares)

4,400

Series C

Liquidity and Capital Resources [Line Items]

Liquidation preference per share (usd per share)

$ 329

0.01

$ 329

Preferred stock, par value (usd per share)

$ 1,000

Conversion of stock (shares)

487.79

Issuance of convertible preferred stock, shares

8,919.59044

Series A Warrants

Liquidity and Capital Resources [Line Items]

Warrants outstanding

$ 1,600,000

Series B Warrants

Liquidity and Capital Resources [Line Items]

Warrants outstanding

$ 0

Series C Warrants

Liquidity and Capital Resources [Line Items]

Warrants outstanding

$ 10,500,000

Series C Warrants | Common Stock

Liquidity and Capital Resources [Line Items]

Number of common stock called by warrants

18,977,852

Minimum | Series B Preferred Stock

Liquidity and Capital Resources [Line Items]

Expiration period

4 years 6 months

Minimum | Series A Warrants

Liquidity and Capital Resources [Line Items]

Expiration period

4 years 6 months

Maximum | Series B Preferred Stock

Liquidity and Capital Resources [Line Items]

Expiration period

5 years

Maximum | Series A Warrants

Liquidity and Capital Resources [Line Items]

Expiration period

5 years

Loans Payable | 2015 Loan Agreement

Liquidity and Capital Resources [Line Items]

Debt face amount

$ 30,000,000

Proceeds from debt

$ 5,000,000

$ 20,000,000

Minimum balance of accounts subject to control agreement

$ 5,000,000

Minimum adjusted cash flow requirement

$ (6,500,000)

Minimum quarterly payment due

$ 3,300,000

Potential proceeds from issuance of debt

5,000,000

Loans Payable | 2015 Loan Agreement | Scenario, Forecast

Liquidity and Capital Resources [Line Items]

Minimum adjusted cash flow requirement

$ 200,000

Investor

Liquidity and Capital Resources [Line Items]

Proceeds from issuance of equity

$ 1,000,000

Investor | Series A Warrants | Common Stock

Liquidity and Capital Resources [Line Items]

Number of common stock called by warrants

1,168,659

Expiration period

5 years

Exercise price of warrants (usd per share)

$ 3.65

Investor | Series B Warrants | Common Stock

Liquidity and Capital Resources [Line Items]

Number of common stock called by warrants

1,203,800

Expiration period

5 years

Exercise price of warrants (usd per share)

$ 3.54

Investor | Series C Warrants | Common Stock

Liquidity and Capital Resources [Line Items]

Expiration period

5 years

Exercise price of warrants (usd per share)

$ 0.70

Term of warrants

5 years

Placement Agent | Series A Warrants

Liquidity and Capital Resources [Line Items]

Warrants outstanding

$ 200,000

Placement Agent | Series A Warrants | Common Stock

Liquidity and Capital Resources [Line Items]

Number of common stock called by warrants

70,120

Exercise price of warrants (usd per share)

$ 4.45

Placement Agent | Series B Warrants

Liquidity and Capital Resources [Line Items]

Warrants outstanding

$ 200,000

Placement Agent | Series B Warrants | Common Stock

Liquidity and Capital Resources [Line Items]

Number of common stock called by warrants

72,230

Exercise price of warrants (usd per share)

$ 3.54

Placement Agent | Series C Warrants

Liquidity and Capital Resources [Line Items]

Warrants outstanding

$ 700,000

Placement Agent | Series C Warrants | Common Stock

Liquidity and Capital Resources [Line Items]

Number of common stock called by warrants

1,276,596

Exercise price of warrants (usd per share)

$ 0.517

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt - net	$ 20,552	$ 15,340
Line of Credit | NSPH Funding, LLC and SWK Funding, LLC
Debt Instrument [Line Items]
Debt - gross	25,000	20,000
Debt discount, inclusive of issue costs	$ (4,448)	$ (4,660)

Debt - Repayments of Principal

Debt - Repayments of Principal and Interest (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2,016	$ 0
2,016	1,250
2,017	4,375
2,018	7,667
2,019	8,333
2,021	3,375
Total	$ 25,000	$ 20,000

Net Loss Per Common Share - Add

Net Loss Per Common Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of basic net loss per common share	44,758,477	272,919
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of basic net loss per common share	324,000	19,500

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Detail) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock and common stock warrants	44,758,477	272,919
preferred stock, shares issued (shares)	8,348.8
Number of shares convertible into (shares)	17,240,000
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock and common stock warrants	324,000	19,500
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock and common stock warrants	619,675	246,618
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock and common stock warrants	26,574,802	6,801
Convertible preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock and common stock warrants	17,240,000	0

Equity Incentive Plan - Additio

Equity Incentive Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options granted and outstanding with accelerated vesting provisions	3.00%
Total compensation cost associated with option awards	$ 0.3	$ 0.2
Total compensation cost not yet recognized	$ 0.8
Unrecognized share based compensation recognition period	2 years 9 months
Milestone vesting term	7 years
Weighted average term remains	9 months
Options exercised	0	0
Number of Options Outstanding with accelerated vesting provisions	18,034
Weighted average exercise options with accelerated vesting provisions	$ 120.96
Total fair value of shares, vested	$ 0.1	$ 0.9
Restricted stock compensation expense (credit)	$ 0.1	$ 0.2
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cliff vesting period (years)	7 years
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, outstanding (shares)	324,000		0
Restricted stock, forfeited (shares)	0
Granted (shares)	324,000
Restricted stock, vested (shares)	0
Equity Incentive Plan 2000 | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option awards contractual terms	10 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting options	20.00%
Minimum | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards, vesting period	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting options	25.00%
Maximum | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards, vesting period	4 years

Equity Incentive Plan - Summary

Equity Incentive Plan - Summary of Option Activity (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Number of Shares
Outstanding - January 1, 2015	632,204
Granted	4,619
Options exercised	0	0
Expired	0
Forfeited	(17,148)
Outstanding - March 31, 2015	619,675
Exercisable - March 31, 2015	152,021
Vested and Expected to Vest- March 31, 2015	606,851
Weighted Average Exercise Price
Outstanding - January 1, 2015	$ 20.81
Granted	0.69
Exercised	0
Expired	0
Forfeited	(63.95)
Outstanding - March 31, 2015	19.46
Exercisable - March 31, 2015	50
Vested and Expected to Vest-March 31, 2015	$ 19.46
Weighted Average Remaining Contractual Term
Outstanding - March 31, 2015	8 years 3 months 18 days
Exercisable - March 31, 2015	5 years 8 months 12 days
Vested and Expected to Vest-March 31, 2015	8 years 3 months 18 days
Aggregate Intrinsic Value of Options
Outstanding - March 31, 2015	$ 572
Exercisable - March 31, 2015	25
Vested and Expected to Vest-March 31, 2015	$ 572

Equity Incentive Plan - Summa34

Equity Incentive Plan - Summary of Restricted Shares Activity (Details) - Restricted stock	3 Months Ended
	Mar. 31, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding (shares) - January 1, 2016	0
Granted (shares)	324,000
Vested (shares)	0
Forfeited (shares)	0
Outstanding (shares) - March 31, 2016	324,000

Equity Incentive Plan - Stock-b

Equity Incentive Plan - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 280	$ 403
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	29	49
Selling and general
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 251	$ 354

Stockholders' Equity (Details)

Stockholders' Equity (Details)	Jan. 25, 2016$ / shares
Equity [Abstract]
NASDAQ Listing Rules, Number of Consecutive Business Days	30 days
NASDAQ Listing Rules, Minimum Closing Bid Price	$ 1
NASDAQ Listing Rules, Number of Consecutive Business Days At Minimum Bid Price to Comply with Minimum Bid Price Rules	10 days
NASDAQ Listing Rules, Number of Calendar Days Given to Regain Compliance With Minimum Bid Price	180 days
NASDAQ Listing Rules, Potential Number of Additional Calendar Days Given to Regain Compliance With Minimum Bid Price	180 days

Intangible Assets (Detail)

Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Cost	$ 3,786	$ 3,786
Accumulated Amortization	(2,042)	(1,963)
Net	1,744	1,823
Intellectual property - licenses
Finite-Lived Intangible Assets [Line Items]
Cost	3,331	3,331
Accumulated Amortization	(1,778)	(1,710)
Net	1,553	1,621
Patents
Finite-Lived Intangible Assets [Line Items]
Cost	455	455
Accumulated Amortization	(264)	(253)
Net	$ 191	$ 202

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 0.1	$ 0.1

Intangible Assets - Estimated F

Intangible Assets - Estimated Future Amortization Expenses (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2016 (Period from April to December)	$ 238
2,017	301
2,018	219
2,019	219
Thereafter	$ 767

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)ft²	Mar. 31, 2015USD ($)	Feb. 16, 2015ft²	Jan. 01, 2015ft²
Commitments and Contingencies Disclosure [Abstract]
Rent and operating expenses associated with office and laboratory space | $	$ 0.4	$ 0.4
Area of leased property	48,470			40,749
Area of properties leased during the period			7,721

Commitments and Contingencies41

Commitments and Contingencies - Annual Future Minimum Obligations for Operating Leases (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2016 (April to December)	$ 611
2,017	349
Total minimum lease payments	$ 960

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2015	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Severance Costs	$ 500
Restructuring costs		$ 0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	May. 15, 2016	Apr. 14, 2016	Mar. 31, 2016	Dec. 31, 2015	May. 14, 2015	May. 16, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2015
Subsequent Event [Line Items]
Executive stock awards (shares)							4,619
Common stock, par value (usd per share)			$ 0.01	$ 0.01			$ 0.01	$ 0.01	$ 0.01
Series C
Subsequent Event [Line Items]
Conversion of stock (shares)								487.79
Common Stock
Subsequent Event [Line Items]
Conversion of stock, shares issued			700,000	1,037,852	1,168,659			1,203,800	1,168,659
Subsequent Event | Luminex Corporation
Subsequent Event [Line Items]
Potential termination fee	$ 2,250,000
Offer commencement period from date of merger agreement, no later than	15 days
Merge period, no more than	3 days
Subsequent Event | Restricted stock
Subsequent Event [Line Items]
Equity awards, vesting period		3 years
Subsequent Event | Restricted stock | Chief Executive Officer
Subsequent Event [Line Items]
Executive stock awards (shares)		225,000
Subsequent Event | Restricted stock | Chief Strategy Officer
Subsequent Event [Line Items]
Executive stock awards (shares)		50,000
Subsequent Event | Restricted stock | Acting Principal Financial Officer, Chief Accounting Officer, and Secretary
Subsequent Event [Line Items]
Executive stock awards (shares)		10,000
Subsequent Event | Series C
Subsequent Event [Line Items]
Conversion of stock (shares)						235
Subsequent Event | Common Stock
Subsequent Event [Line Items]
Conversion of stock, shares issued						500,000
Subsequent Event | Common Stock | Luminex Corporation
Subsequent Event [Line Items]
Common stock, par value (usd per share)	$ 0.01
Share price (usd per share)	$ 1.35

Supplemental Financial Inform44

Supplemental Financial Information - Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 2,785	$ 3,183
Work-in-process	439	234
Finished goods	2,607	2,644
Inventories	$ 5,831	$ 6,061

Supplemental Financial Inform45

Supplemental Financial Information - Accounts Receivable Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Accounts receivable	$ 4,446	$ 4,467
Allowance for doubtful accounts	(198)	(201)
Accounts receivable - net	$ 4,248	$ 4,266

Supplemental Financial Inform46

Supplemental Financial Information - Property and Equipment-Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property and equipment - at cost	$ 22,062	$ 23,135
Accumulated depreciation	(16,966)	(16,636)
Construction-in-Progress	3,803	2,396
Property and equipment - net	$ 8,899	$ 8,895

Supplemental Financial Inform47

Supplemental Financial Information - Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Accrued clinical trial expenses	$ 704	$ 236
Accrued license fees	0	0
All other	2,651	3,077
Other current liabilities	$ 3,355	$ 3,313

Supplemental Financial Inform48

Supplemental Financial Information - Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue from External Customer [Line Items]
Total revenue	$ 6,589	$ 4,618
Instruments
Revenue from External Customer [Line Items]
Total revenue	538	703
Consumables
Revenue from External Customer [Line Items]
Total revenue	$ 6,051	$ 3,915