Nanosphere 10-Q 7 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	2-May-14
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'NSPH	'
Entity Registrant Name	'NANOSPHERE INC	'
Entity Central Index Key	'0001105184	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	76,919,106

Balance_Sheets

Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Cash and cash equivalents	$32,996	$41,467
Accounts receivable, net	2,393	2,821
Inventories	9,724	8,452
Other current assets	630	248
Total current assets	45,743	52,988
PROPERTY AND EQUIPMENT - Net	4,102	3,673
INTANGIBLE ASSETS - Net of accumulated amortization	2,324	2,406
OTHER ASSETS	257	284
TOTAL	52,426	59,351
CURRENT LIABILITIES:	'	'
Accounts payable	2,957	1,958
Accrued compensation	914	910
Other current liabilities	2,027	1,534
Long term debt - current portion	2,080	2,081
Total current liabilities	7,978	6,483
LONG-TERM LIABILITIES:	'	'
Long term debt	9,758	9,734
Total liabilities	17,736	16,217
COMMITMENTS AND CONTINGENCIES	'	'
STOCKHOLDERS' EQUITY:	'	'
Common stock, $0.01 par value; 100,000,000 shares authorized; 76,919,106 and 76,222,606 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively	769	762
Preferred stock, $0.01 par value; 10,000,000 shares authorized; no shares issued	'	'
Additional paid-in capital	426,480	424,962
Warrants to acquire common stock	246	246
Accumulated deficit	-392,805	-382,836
Total stockholders' equity	34,690	43,134
TOTAL	$52,426	$59,351

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	76,919,106	76,222,606
Common stock, shares outstanding	76,919,106	76,222,606
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	'	'

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
REVENUE:	'	'
Product sales	$3,283	$2,369
Total revenue	3,283	2,369
COSTS AND EXPENSES:	'	'
Cost of sales	2,023	1,537
Research and development	5,221	4,987
Sales, general, and administrative	5,644	4,384
Total costs and expenses	12,888	10,908
Loss from operations	-9,605	-8,539
OTHER INCOME (EXPENSE):	'	'
Foreign exchange gain (loss)	'	-2
Interest expense	368	'
Interest income	3	7
Total other income (expense)	-365	5
NET LOSS	($9,970)	($8,534)
Net loss per common share - basic and diluted	($0.13)	($0.15)
Weighted average number of common shares outstanding - basic and diluted	76,716	56,090

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($9,970)	($8,534)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	741	582
Provision for doubtful accounts	87	'
Share-based compensation	874	399
Changes in operating assets and liabilities:	'	'
Accounts receivable	341	-791
Inventories	-1,273	-936
Other current assets	-382	-288
Accounts payable	684	-68
Accrued and other current liabilities	465	1,245
Net cash used in operating activities	-8,433	-8,391
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchases of property and equipment	-690	-433
Net cash used in investing activities	-690	-433
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds for stock options exercise	652	'
Net cash used in financing activities	652	'
NET DECREASE IN CASH AND CASH EQUIVALENTS	-8,471	-8,824
CASH AND CASH EQUIVALENTS - Beginning of period	41,467	33,139
CASH AND CASH EQUIVALENTS - End of period	32,996	24,315
NONCASH INVESTING AND FINANCING ACTIVITIES:	'	'
Reclassification of inventory to property and equipment	78	291
Accrued purchase of property and equipment	$315	'

Description_of_Business

Description of Business	3 Months Ended
	Mar. 31, 2014
Description of Business	'
	1. Description of Business
	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 and in conformity with Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America 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 financial statements should be read in conjunction with the Company’s most recent audited financial statements for the year ended December 31, 2013 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 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 accounting principles generally accepted in the United States of America 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 financial statements are related to inventories, property and equipment, intangible assets, current liabilities and share-based compensation. Actual results could differ from those estimates.
	Fair Value of Financial Instruments — The carrying amount of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and debt approximate their fair values.

Liquidity_and_Capital_Resource

Liquidity and Capital Resources	3 Months Ended
	Mar. 31, 2014
Liquidity and Capital Resources	'
	2. Liquidity and Capital Resources
	The Company has incurred net losses attributable to common stock of $392.8 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.
	In May 2013, the Company entered into a $22 million debt facility agreement with Silicon Valley Bank and Oxford Finance LLC secured by all the assets of the Company and bearing an interest rate of 9.25 %. Proceeds are to be used for working capital needs and to fund general business requirements. As of March 31, 2014, the Company has drawn $12 million of the loan, and the remaining $10 million is available upon achieving certain financial milestones. The term of the loans is up to four years each, with payments during the initial 12 month period being interest-only and then interest and principal payments monthly for the next 3 years. On February 18, 2014, the Company entered into an amendment of the loan and security agreement with Silicon Valley Bank and Oxford Bank (the “Amendment”). The Amendment extends the period of time during which we may access the second, $10 million tranche of this loan from March 31, 2014 to September 30, 2014. If the Company accesses the second, $10 million tranche of this loan, it must maintain a liquidity reserve equal to six times our average monthly cash burn rate over a rolling three month period, but only to the extent that the Company has aggregate net losses during any such rolling three month period.
	Management believes that its cash resources, including availability under its debt facility and common stock purchase agreement, should be sufficient to support currently forecasted operations through at least the next twelve months. However, the Company operates in a market that makes its prospects difficult to evaluate, and the Company may need additional debt or equity financing in the future to execute on its current or future business strategies beyond the next twelve months. Management also believes that, if necessary, it can implement plans in the short term to conserve existing cash should additional financing activities be delayed. Capital outlays and operating expenditures may increase over the next twelve months as the Company expands its infrastructure, commercialization, manufacturing, and research and development activities.

Net_Loss_Per_Common_Share

Net Loss Per Common Share	3 Months Ended
	Mar. 31, 2014
Net Loss Per Common Share	'
	3. Net Loss Per Common Share
	Basic and diluted net losses per common share have been calculated in accordance with ASC Topic 260, “Earnings Per Share”, for the three month periods ended March 31, 2014 and 2013. 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 computations of diluted net loss per common share for the three month periods ended March 31, 2014 and 2013 did not include the effects of the following options to acquire common stock and common stock warrants as the inclusion of these securities would have been antidilutive:
		Three month Periods Ended
		March 31,
		2014		2013
	Stock options		5,419,539		5,944,460
	Common stock warrants		136,019		164,925
			5,555,558		6,109,385

Intangible_Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2014
Intangible Assets	'
	4. Intangible Assets
	Intangible assets, consisting of purchased intellectual property, as of March 31, 2014 and December 31, 2013 comprise the following (in thousands):
		March 31, 2014							December 31, 2013
		Cost		Accumulated			Net		Cost		Accumulated			Net
				Amortization							Amortization
	Intellectual property — licenses	$	3,263	$	(1,223	)	$	2,040	$	3,263	$	(1,152	)	$	2,111
	Patents		455		(171	)	$	284		455		(160	)	$	295
		$	3,718	$	(1,394	)	$	2,324	$	3,718	$	(1,312	)	$	2,406
	Amortization expense for intangible assets was less than $0.1 million in each of the three month periods ended March 31, 2014 and 2013. Estimated future amortization expense is as follows:
	Years Ending December 31
	2014 (Period from April 1 to December 31)	$	245
	2015		322
	2016		309
	2017		293
	2018		211
	Thereafter		944
	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, 2014.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Related Party Transactions	'
	5. Related Party Transactions
	Dr. Chad Mirkin, a co-founder of the Company, provided contracted research and development services to the Company. The Company incurred expenses of less than $0.1 million for these services for the three month period ended March 31, 2013. On March 27, 2013, the Company advised Dr. Mirkin that his consulting agreement would not be renewed and would expire pursuant to its terms on May 31, 2013. On April 22, 2013, Dr. Mirkin advised the Company that he would not stand for re-election to the Company’s board of directors at the 2013 annual meeting and retired from the board of directors at the expiration of his 2013 term.

Equity_Incentive_Plan

Equity Incentive Plan	3 Months Ended
	Mar. 31, 2014
Equity Incentive Plan	'
	6. Equity Incentive Plan
	The Company’s board of directors has adopted and the shareholders have approved the Nanosphere 2000 Equity Incentive Plan (the “2000 Plan”) and the Nanosphere 2007 Long-Term Incentive Plan (the “2007 Plan”). 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 over 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 18% of the options granted and outstanding contain “accelerated vesting” provisions. The fair values of the Company’s option awards granted during the three month period ended March 31, 2014 were estimated at the dates of grant using the Black-Scholes option pricing model with the following assumptions:
	Expected dividend yield		0	%
	Expected volatility		85	%
	Risk free interest rate		1.93	%
	Weighted-average expected option life		6.0 years
	Estimated weighted-average fair value on the date of grant based on the above assumptions	$	1.86
	Estimated forfeiture rate for unvested options		0	%
	The expected volatility for option awards granted during 2013 was based on the Company’s actual historical volatility. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grants for periods consistent with the expected life of the option. The expected life of options that vest ratably over four years of service is derived from the average of the vesting period and the term of the option as defined in the Plans, following the guidance in Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin Nos. 107 and 110. The Company estimates the expected life of options with accelerated vesting terms giving consideration to the dates that the Company expects to achieve key milestones under the option agreements and the term of the option.
	Total compensation cost recognized for all stock option awards was $0.3 million in the three month periods ended March 31, 2014 and 2013.
	As of March 31, 2014, the total compensation cost not yet recognized related to the nonvested stock option awards is approximately $2.5 million, which amount is expected to be recognized over the next three years, with a weighted average term of 1.8 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, 2014, and for three month period then ended is presented below:
	Options	Number of			Weighted		Weighted		Aggregate
		Shares			Average		Average		Intrinsic
					Exercise		Remaining		Value of
					Price		Contractual		Options
							Term
	Outstanding — January 1, 2014		5,963,478		$	3.66
	Granted		541		$	2.51
	Exercised		(467,500	)	$	1.45
	Expired		(46,980	)	$	5.44
	Forfeited		(30,000	)	$	3
	Outstanding — March 31, 2014		5,419,539		$	3.85		6.07	$	2,097,947
	Exercisable — March 31, 2014		3,251,520		$	4.55		4.71	$	824,065
	Vested and Expected to Vest—March 31, 2014		5,319,810		$	3.87		6.03	$	2,039,348
	There were 467,500 options exercised for the three month period ended March 31, 2014 and no options exercised in the three month periods ended March 31, 2013.
	Included in the number of options outstanding at March 31, 2014 are 972,186 options with a weighted average exercise price of $5.24 per share and accelerated vesting provisions based on the criteria mentioned above. The total fair value of shares vested during the three month periods ended March 31, 2014 and 2013 were $1.4 million and $0.7 million, respectively.
	As of January 1, 2014, there were 807,000 shares of restricted stock outstanding under the 2007 Plan and during the three month period ended March 31, 2014, 6,000 shares were forfeited and 235,000 additional shares of restricted stock were granted. The restricted shares vest 50% on August 15, 2014 and 50% on May 15, 2015 and are subject to forfeiture until vested. There were 2,500 shares that vested during the three month period ended March 31, 2014. The Company recognized $0.6 million and $0.1 million in restricted stock compensation expense during the three month periods ended March 31, 2014 and 2013. As of March 31, 2014, the total compensation cost not yet recognized related to the nonvested restricted stock awards was approximately $1.6 million, which amount is expected to be recognized over a weighted average term of less than one year.

License_Agreements

License Agreements	3 Months Ended
	Mar. 31, 2014
License Agreements	'
	7. License Agreements
	The Company has entered into several nonexclusive license agreements with various companies covering certain technologies which are embedded in the Company’s diagnostic instruments and diagnostic test products. As of March 31, 2014, the Company has paid aggregate initial license fees of $3.6 million for these licenses, and has agreed to pay a percentage of net sales as royalties, in percentage amounts ranging from less than 1.0% to 12.0%. These initial license fees were capitalized as intangible assets (see Note 4). Certain of the license agreements have minimum annual royalty payments, and such minimum payments are $0.2 million in each of the fiscal years 2014 and 2015 and are less than $0.1 million annually thereafter through the dates the respective licenses terminate. These licenses expire at various times, corresponding to the subject patents expirations, which currently range from 2014 to 2027.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity	'
	8. Stockholders’ Equity
	On March 18, 2014, the Company entered into a Common Stock Purchase Agreement, or the Purchase Agreement, with Aspire Capital Fund, LLC, or Aspire, to purchase, at our option, up to an aggregate of $30.0 million of shares of r common stock over a two-year term, which expires in March 2016. The sales to Aspire will be made subject to market conditions, in light of capital needs and under various limitations contained in the Purchase Agreement. At March 31, 2014 the closing stock price was $2.15 per share and during the prior 12 months the stock has traded between $1.83 and $4.26. If in the future, the closing price of the common stock falls below the $0.75 floor price, the Company would not have access to this facility. The Company has not yet sold any shares under the Purchase Agreement. Over the term of the Purchase Agreement, assuming the common stock is trading above the $0.75 minimum floor price that is required to use the facility, the Company has two ways to elect to sell common stock to Aspire on any business day the Company select: (1) through a regular purchase of up to 50,000 shares at prices based on the market price of our common stock prior to the time of each sale, and (2) through a volume weighted average price, or VWAP, purchase of a number of shares up to 30% of the volume traded on the purchase date at a price equal to the lesser of the closing sale price or 95% of the VWAP for such purchase date. If mutually agreed upon, the regular purchase option can be increased by 1,000,000 shares per business day. The Company also entered into a Registration Rights Agreement with Aspire, which requires, among other things, that the Company maintain the effectiveness of our registration statement that registered the shares issued and issuable to Aspire under the Purchase Agreement. As of May 7, 2014, there have been no sales of common stock to Aspire pursuant to the Purchase agreement.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies	'
	9. Commitments and Contingencies
	In November 2013, the Company exercised its renewal option and the lease term has been extended to May 2017. On February 13, 2014, we exercised a right of first refusal under our recently revised facilities lease to acquire an additional 8,535 square feet of space in our building as soon as such space becomes available. The current tenant occupying this additional space is expected to vacate the space on or about August 31, 2014.
	Rent and operating expenses associated with the office and laboratory space were $0.4 million and $0.2 million for the three month periods ended March 31, 2014 and 2013, respectively.
	Annual future minimum obligations for the operating leases as of March 31, 2014, are as follows (in thousands):
	Years Ending December 31	Operating
		Lease
	2014 (Period from April 1 to December 31)	$	336
	2015		497
	2016		509
	2017		214
	2018		—
	Total minimum lease payments	$	1,556

Supplemental_Financial_Informa

Supplemental Financial Information	3 Months Ended
	Mar. 31, 2014
Supplemental Financial Information	'
	10. Supplemental Financial Information
		March 31,			December 31,
		2014			2013
		(in thousands)
	Inventories:
	Raw materials	$	3,021		$	2,263
	Work-in-process		238			—
	Finished goods		6,465			6,189
	Total	$	9,724		$	8,452
		March 31,			December 31,
		2014			2013
		(in thousands)
	Accounts Receivable—Net:
	Accounts Receivable	$	2,480		$	2,821
	Allowance for Doubtful Accounts Receivable		87			—
	Accounts Receivable – net	$	2,393		$	2,821
		March 31,			December 31,
		2014			2013
		(in thousands)
	Property and Equipment – Net:
	Total property and equipment — at cost	$	22,746		$	21,820
	Less accumulated depreciation		(18,644	)		(18,147	)
	Property and equipment — net	$	4,102		$	3,673
		March 31,			December 31,
		2014			2013
		(in thousands)
	Other Current Liabilities:
	Accrued clinical trial expenses	$	1,153		$	320
	Accrued license fees		128			84
	All other		746			1,130
	Total	$	2,027		$	1,534

Description_of_Business_Polici

Description of Business (Policies)	3 Months Ended
	Mar. 31, 2014
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 and in conformity with Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America 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 financial statements should be read in conjunction with the Company’s most recent audited financial statements for the year ended December 31, 2013 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 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	'
	Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 financial statements are related to inventories, property and equipment, intangible assets, current liabilities and share-based compensation. Actual results could differ from those estimates.
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, accounts payable, and debt approximate their fair values.

Net_Loss_Per_Common_Share_Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2014
Antidilutive Common Stock and Common Stock Warrants	'
	The computations of diluted net loss per common share for the three month periods ended March 31, 2014 and 2013 did not include the effects of the following options to acquire common stock and common stock warrants as the inclusion of these securities would have been antidilutive:
		Three month Periods Ended
		March 31,
		2014		2013
	Stock options		5,419,539		5,944,460
	Common stock warrants		136,019		164,925
			5,555,558		6,109,385

Intangible_Assets_Tables

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2014
Schedule of Intangible Assets, Consisting of Purchased Intellectual Property	'
	Intangible assets, consisting of purchased intellectual property, as of March 31, 2014 and December 31, 2013 comprise the following (in thousands):
		March 31, 2014							December 31, 2013
		Cost		Accumulated			Net		Cost		Accumulated			Net
				Amortization							Amortization
	Intellectual property — licenses	$	3,263	$	(1,223	)	$	2,040	$	3,263	$	(1,152	)	$	2,111
	Patents		455		(171	)	$	284		455		(160	)	$	295
		$	3,718	$	(1,394	)	$	2,324	$	3,718	$	(1,312	)	$	2,406
Schedule of Estimated Future Amortization Expense	'
	Estimated future amortization expense is as follows:
	Years Ending December 31
	2014 (Period from April 1 to December 31)	$	245
	2015		322
	2016		309
	2017		293
	2018		211
	Thereafter		944

Equity_Incentive_Plan_Tables

Equity Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2014
Assumptions Used Fair Value of Option Awards Granted Using Black-Scholes Option Pricing Model	'
	The fair values of the Company’s option awards granted during the three month period ended March 31, 2014 were estimated at the dates of grant using the Black-Scholes option pricing model with the following assumptions:
	Expected dividend yield		0	%
	Expected volatility		85	%
	Risk free interest rate		1.93	%
	Weighted-average expected option life		6.0 years
	Estimated weighted-average fair value on the date of grant based on the above assumptions	$	1.86
	Estimated forfeiture rate for unvested options		0	%
Summary of Option Activity	'
	A summary of option activity under the plans as of March 31, 2014, and for three month period then ended is presented below:
	Options	Number of			Weighted		Weighted		Aggregate
		Shares			Average		Average		Intrinsic
					Exercise		Remaining		Value of
					Price		Contractual		Options
							Term
	Outstanding — January 1, 2014		5,963,478		$	3.66
	Granted		541		$	2.51
	Exercised		(467,500	)	$	1.45
	Expired		(46,980	)	$	5.44
	Forfeited		(30,000	)	$	3
	Outstanding — March 31, 2014		5,419,539		$	3.85		6.07	$	2,097,947
	Exercisable — March 31, 2014		3,251,520		$	4.55		4.71	$	824,065
	Vested and Expected to Vest—March 31, 2014		5,319,810		$	3.87		6.03	$	2,039,348

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2014
Annual Future Minimum Obligations for Operating Leases	'
	Annual future minimum obligations for the operating leases as of March 31, 2014, are as follows (in thousands):
	Years Ending December 31	Operating
		Lease
	2014 (Period from April 1 to December 31)	$	336
	2015		497
	2016		509
	2017		214
	2018		—
	Total minimum lease payments	$	1,556

Supplemental_Financial_Informa1

Supplemental Financial Information (Tables)	3 Months Ended
	Mar. 31, 2014
Inventories	'
			March 31,				December 31,
			2014				2013
			(in thousands)
	Inventories:
	Raw materials		$	3,021			$	2,263
	Work-in-process			238				—
	Finished goods			6,465				6,189
	Total		$	9,724			$	8,452
Accounts Receivable Net	'
			March 31,				December 31,
			2014				2013
			(in thousands)
	Accounts Receivable—Net:
	Accounts Receivable		$	2,480			$	2,821
	Allowance for Doubtful Accounts Receivable			87				—
	Accounts Receivable – net		$	2,393			$	2,821
Property and Equipment-Net	'
		March 31,				December 31,
		2014				2013
			(in thousands)
	Property and Equipment – Net:
	Total property and equipment — at cost		$	22,746			$	21,820
	Less accumulated depreciation			(18,644	)			(18,147	)
	Property and equipment — net		$	4,102			$	3,673
Other Current Liabilities	'
		March 31,				December 31,
		2014				2013
			(in thousands)
	Other Current Liabilities:
	Accrued clinical trial expenses		$	1,153			$	320
	Accrued license fees			128				84
	All other			746				1,130
	Total		$	2,027			$	1,534

Liquidity_and_Capital_Resource1

Liquidity and Capital Resources - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	6-May-13	Mar. 31, 2014
Subsidiary, Sale of Stock [Line Items]	'	'
Net losses attributable to common stock since inception	'	$392.80
Debt facility, agreement amount	22	'
Debt facility, drawn immediately	12	'
Debt facility, remaining borrowing capacity	$10	'
Debt facility, interest rate	9.25%	'
Debt facility, maturity period	'4 years	'
Debt facility, description of repayment terms	'The term of the loans is up to four years each, with payments during the initial 12 month period being interest-only and then interest and principal payments monthly for the next 3 years.	'
Second loan	'	'
Subsidiary, Sale of Stock [Line Items]	'	'
Debt facility, Initial available date	31-Mar-14	'
Debt facility, final available date	30-Sep-14	'
Debt facility, covenants	'The Amendment extends the period of time during which we may access the second, $10 million tranche of this loan from March 31, 2014 to September 30, 2014. If the Company accesses the second, $10 million tranche of this loan, it must maintain a liquidity reserve equal to six times our average monthly cash burn rate over a rolling three month period, but only to the extent that the Company has aggregate net losses during any such rolling three month period.	'

Net_Loss_Per_Common_Share_Deta

Net Loss Per Common Share (Detail)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive common stock and common stock warrants	5,555,558	6,109,385
Stock options	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive common stock and common stock warrants	5,419,539	5,944,460
Common stock warrants	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive common stock and common stock warrants	136,019	164,925

Intangible_Assets_Detail

Intangible Assets (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]	'	'
Cost	$3,718	$3,718
Accumulated Amortization	-1,394	-1,312
Net	2,324	2,406
Intellectual property - licenses	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Cost	3,263	3,263
Accumulated Amortization	-1,223	-1,152
Net	2,040	2,111
Patents	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Cost	455	455
Accumulated Amortization	-171	-160
Net	$284	$295

Intangible_Assets_Additional_I

Intangible Assets - Additional Information (Detail) (Maximum, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Maximum	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Amortization expense for intangible assets	$0.10	$0.10

Estimated_Future_Amortization_

Estimated Future Amortization Expenses (Detail) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Schedule Of Estimated Future Amortization Expense [Line Items]	'
2014 (Period from April 1 to December 31)	$245
2015	322
2016	309
2017	293
2018	211
Thereafter	$944

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (Dr. Chad Mirkin, Research and Development Expense, Maximum, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2013
Dr. Chad Mirkin | Research and Development Expense | Maximum	'
Related Party Transaction [Line Items]	'
Related party transaction, expenses incurred	$0.10

Equity_Incentive_Plan_Addition

Equity Incentive Plan - Additional Information (Detail) (USD $)	3 Months Ended				1 Months Ended	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Jan. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
			Restricted stock	Equity Incentive Plan 2000	Equity Incentive Plan 2007	Equity Incentive Plan 2007	Minimum	Minimum	Maximum	Maximum
					Restricted stock	Restricted stock		Upon achievement of each of four or five milestones		Upon achievement of each of four or five milestones
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'	'	'	'
Option awards contractual terms	'	'	'	'10 years	'	'	'	'	'	'
Accelerated vesting options	'	'	'	'	'	'	'	20.00%	'	25.00%
Equity awards, vesting period	'	'	'	'	'	'	'4 years	'	'7 years	'
Percentage of options granted and outstanding with accelerated vesting provisions	'	'	'	'	'	'	18.00%	'	'	'
Total compensation cost associated with option awards	$0.30	$0.30	'	'	'	'	'	'	'	'
Total compensation cost not yet recognized	2.5	'	'	'	'	'	'	'	'	'
Unrecognized share based compensation recognition period	'3 years	'	'1 year	'	'	'	'	'	'	'
Milestone vesting term	'7 years	'	'	'	'	'	'	'	'	'
Weighted average term remains	'1 year 9 months 18 days	'	'	'	'	'	'	'	'	'
Options exercised	467,500	0	'	'	'	'	'	'	'	'
Number of Options Outstanding with accelerated vesting provisions	972,186	'	'	'	'	'	'	'	'	'
Weighted average exercise options with accelerated vesting provisions	$5.24	'	'	'	'	'	'	'	'	'
Total fair value of shares, vested	1.4	0.7	'	'	'	'	'	'	'	'
Restricted stock, granted	'	'	'	'	807,000	235,000	'	'	'	'
Restricted stock, forfeited	'	'	'	'	'	6,000	'	'	'	'
Restricted stock vesting percentage on the two-year anniversary	'	'	'	'	'	50.00%	'	'	'	'
Restricted stock vesting percentage on the four-year anniversary	'	'	'	'	'	50.00%	'	'	'	'
Restricted stock, vested	'	'	2,500	'	'	'	'	'	'	'
Restricted stock compensation expense	0.6	0.1	'	'	'	'	'	'	'	'
Total compensation cost not yet recognized, non vested restricted stock	'	'	$1.60	'	'	'	'	'	'	'

Assumptions_Used_for_Fair_Valu

Assumptions Used for Fair Value of Option Awards Granted Using Black-Scholes Option Pricing Model (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Expected dividend yield	0.00%
Expected volatility	85.00%
Risk free interest rate	1.93%
Weighted-average expected option life	'6 years
Estimated weighted-average fair value on the date of grant based on the above assumptions	$1.86
Estimated forfeiture rate for unvested options	0.00%

Summary_of_Option_Activity_Det

Summary of Option Activity (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Number of Shares	'	'
Outstanding - January 1, 2014	5,963,478	'
Granted	541	'
Exercised	-467,500	0
Expired	-46,980	'
Forfeited	-30,000	'
Outstanding - March 31, 2014	5,419,539	'
Exercisable - March 31, 2014	3,251,520	'
Vested and Expected to Vest-March 31, 2014	5,319,810	'
Weighted Average Exercise Price	'	'
Outstanding - January 1, 2014	$3.66	'
Granted	$2.51	'
Exercised	$1.45	'
Expired	$5.44	'
Forfeited	$3	'
Outstanding - March 31, 2014	$3.85	'
Exercisable - March 31, 2014	$4.55	'
Vested and Expected to Vest-March 31, 2014	$3.87	'
Weighted Average Remaining Contractual Term	'	'
Outstanding - March 31, 2014	'6 years 26 days	'
Exercisable - March 31, 2014	'4 years 8 months 16 days	'
Vested and Expected to Vest-March 31, 2014	'6 years 11 days	'
Aggregate Intrinsic Value of Options	'	'
Outstanding - March 31, 2014	$2,097,947	'
Exercisable - March 31, 2014	824,065	'
Vested and Expected to Vest-March 31, 2014	$2,039,348	'

License_Agreements_Additional_

License Agreements - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Finite-Lived Intangible Assets [Line Items]	'
License fees	3.6
Minimum annual royalty payments, 2014	0.2
Minimum annual royalty payments, 2015	0.2
Minimum annual royalty payments, thereafter	0.1
Minimum	'
Finite-Lived Intangible Assets [Line Items]	'
Royalty percentage paid	1.00%
License agreement, expiration date	'2014
Maximum	'
Finite-Lived Intangible Assets [Line Items]	'
Royalty percentage paid	12.00%
License agreement, expiration date	'2027

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (Aspire Capital Fund LLC, USD $)	1 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
		Minimum	Minimum	Maximum	Maximum	Maximum
						If mutually agreed upon, regular purchase option per business day
Class of Warrant or Right [Line Items]	'	'	'	'	'	'
Common stock purchase agreement, authorized amount	$30	'	'	'	'	'
Common stock purchase agreement, term	'2 years	'	'	'	'	'
Common stock purchase agreement, expiration date	'2016-03	'	'	'	'	'
Closing stock price per share	$2.15	'	$1.83	'	$4.26	'
Common stock, minimum floor price per share	$0.75	'	'	'	'	'
Common stock purchase agreement, shares authorized	50,000	'	'	'	'	1,000,000
Volume weighted average price, share percentage	'	30.00%	'	95.00%	'	'

Commitments_and_Contingencies_1

Commitments and Contingencies - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Nov. 30, 2013	Mar. 31, 2014	Mar. 31, 2013	Feb. 13, 2014
				sqft
Commitment And Contingencies [Line Items]	'	'	'	'
Lease extended date	'2017-05	'	'	'
Lease additional space	'	'	'	8,535
Rent and operating expenses associated with office and laboratory space	'	$0.40	$0.20	'

Annual_Future_Minimum_Obligati

Annual Future Minimum Obligations for Operating Leases (Detail) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Schedule of Operating Leases [Line Items]	'
2014 (Period from April 1 to December 31)	$336
2015	497
2016	509
2017	214
2018	'
Total minimum lease payments	$1,556

Inventories_Detail

Inventories (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Supplemental Financial Information [Line Items]	'	'
Raw materials	$3,021	$2,263
Work-in-process	238	'
Finished goods	6,465	6,189
Total	$9,724	$8,452

Accounts_Receivable_Net_Detail

Accounts Receivable Net (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Supplemental Financial Information [Line Items]	'	'
Accounts Receivable	$2,480	$2,821
Allowance for Doubtful Accounts Receivable	87	'
Accounts Receivable - net	$2,393	$2,821

Property_and_EquipmentNet_Deta

Property and Equipment-Net (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment - at cost	$22,746	$21,820
Less accumulated depreciation	-18,644	-18,147
Property and equipment - net	$4,102	$3,673

Other_Current_Liabilities_Deta

Other Current Liabilities (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Supplemental Financial Information [Line Items]	'	'
Accrued clinical trial expenses	$1,153	$320
Accrued license fees	128	84
All other	746	1,130
Total	$2,027	$1,534