Cyclacel Pharmaceuticals (CYCC) 10-Q 13 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	12-May-14
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Cyclacel Pharmaceuticals, Inc.	'
Entity Central Index Key	'0001130166	'
Trading Symbol	'cycc	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	22,676,475
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$28,154	$31,146
Prepaid expenses and other current assets	4,718	3,388
Current assets of discontinued operations	580	639
Total current assets	33,452	35,173
Property and equipment (net)	285	275
Long-term assets of discontinued operations	48	72
Total assets	33,785	35,520
Current liabilities:	'	'
Accounts payable	4,719	2,545
Accrued and other current liabilities	3,811	4,672
Other liabilities measured at fair value	20	20
Current liabilities of discontinued operations	260	260
Total current liabilities	8,810	7,497
Total liabilities	8,810	7,497
Commitments and contingencies	'	'
Stockholders' equity:	'	'
Preferred stock, $0.001 par value; 5,000,000 shares authorized at December 31, 2013 and March 31, 2014; 335,273 shares issued and outstanding at December 31, 2013 and March 31, 2014. Aggregate preference in liquidation of $3,989,749 at December 31, 2013 and March 31, 2014.	'	'
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2013 and March 31, 2014; 19,369,332 and 19,819,332 shares issued and outstanding at December 31, 2013 and March 31, 2014, respectively.	20	19
Additional paid-in capital	319,355	317,543
Accumulated other comprehensive income (loss)	-101	-109
Deficit accumulated during the development stage	-294,299	-289,430
Total stockholders' equity	24,975	28,023
Total liabilities and stockholders' equity	$33,785	$35,520

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
CONSOLIDATED BALANCE SHEETS	'	'
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	335,273	335,273
Preferred stock, shares outstanding	335,273	335,273
Preferred stock, liquidation preference value (in dollars)	$3,989,749	$3,989,749
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	19,819,332	19,369,332
Common stock, shares outstanding	19,819,332	19,369,332

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		212 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Revenues:	'	'	'
Collaboration and research and development revenue	'	'	$3,100
Grant revenue	396	212	5,197
Total revenues	396	212	8,297
Operating expenses:	'	'	'
Research and development	4,344	1,580	208,012
General and administrative	1,462	2,683	98,654
Goodwill and intangibles impairment	'	'	2,747
Other restructuring costs	'	'	2,634
Total operating expenses	5,806	4,263	312,047
Operating loss	-5,410	-4,051	-303,750
Other income (expense):	'	'	'
Costs associated with aborted 2004 IPO	'	'	-3,550
Payment under guarantee	'	'	-1,652
Change in valuation of financial instruments associated with stock purchase agreement	-47	'	-568
Change in valuation of Economic Rights	'	570	547
Change in valuation of liabilities measured at fair value	'	'	6,378
Foreign exchange gains (losses)	10	120	-3,933
Interest income	1	1	13,761
Interest expense	'	'	-4,567
Other income, net	'	4	5,624
Total other income (expense)	-36	695	12,040
Loss from continuing operations before taxes	-5,446	-3,356	-291,710
Income tax benefit	569	258	22,034
Net loss from continuing operations	-4,877	-3,098	-269,676
Discontinued operations:	'	'	'
Income (loss) from discontinued operations	13	26	-11,705
Income tax on discontinued operations	-5	-10	-376
Net income (loss) from discontinued operations	8	16	-12,081
Net loss	-4,869	-3,082	-281,757
Dividend on preferred ordinary shares	'	'	-38,123
Deemed dividend on convertible exchangeable preferred shares	'	-8,366	-12,542
Dividend on convertible exchangeable preferred shares	-50	-122	-4,733
Net loss applicable to common shareholders	($4,919)	($11,570)	($337,155)
Net loss per share, continuing operations - Basic and diluted (in dollars per share)	($0.25)	($1.18)	'
Net loss per share, discontinued operations - Basic and diluted (in dollars per share)	$0	$0	'
Net loss applicable to common shareholders - Basic and diluted (in dollars per share)	($0.25)	($1.18)	'
Weighted average shares of common stock outstanding (in shares)	19,530,322	9,790,474	'

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (USD $)	3 Months Ended		212 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS	'	'	'
Net loss from continuing operations	($4,877)	($3,098)	($269,676)
Net income (loss) from discontinued operations	8	16	-12,081
Net loss	-4,869	-3,082	-281,757
Translation adjustment	-959	6,652	-3,152
Unrealized foreign exchange gain (loss) on intercompany loans	967	-6,893	3,051
Comprehensive loss	($4,861)	($3,323)	($281,858)

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended		212 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Operating activities:	'	'	'
Net loss	($4,869)	($3,082)	($281,757)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'
Accretion of interest on notes payable, net of amortization of debt premium	'	'	100
Amortization of investment premiums, net	'	'	-2,297
Change in valuation of liabilities measured at fair value	'	-570	-7,475
Change in valuation of financial instruments associated with stock purchase agreement	47	'	568
Depreciation	23	26	12,708
Amortization of intangible assets	'	'	886
Fixed asset impairment	'	'	221
Unrealized foreign exchange (gains) losses	'	'	7,747
Deferred revenue	'	'	-98
Compensation for warrants issued to non-employees	'	'	1,215
Gain on sale of patents	'	'	-5,500
Shares issued for IP rights	'	'	446
Loss (gain) on disposal of property, plant and equipment	'	'	38
Goodwill and intangibles impairment	'	'	7,934
Stock-based compensation	187	72	19,947
Provision for restructuring	'	'	1,779
Amortization of issuance costs of Preferred Ordinary 'C' shares	'	'	2,517
Transaction costs on sale of Economic Rights	'	'	33
Gain on termination of distribution agreements	'	'	-1,192
Changes in operating assets and liabilities:	'	'	'
Prepaid expenses and other assets	-1,360	-482	-2,858
Accounts payable and other current liabilities	1,246	-1,332	-3,049
Net cash used in operating activities	-4,726	-5,368	-248,087
Investing activities:	'	'	'
Purchase of ALIGN	'	'	-3,763
Purchase of property, plant and equipment	-31	-92	-9,088
Minimum royalty payments received from termination of ALIGN license agreement	96	132	492
Proceeds from sale of patents	'	'	5,500
Proceeds from sale of property, plant and equipment	'	'	225
Purchase of short-term investments on deposit, net of maturities	'	'	-156,657
Cash proceeds from redemption of short term securities	'	'	162,729
Net cash provided by (used in) investing activities	65	40	-562
Financing activities:	'	'	'
Payments of capital lease obligations	'	'	-3,719
Proceeds from issuance of ordinary and preferred ordinary shares, net of issuance costs	'	'	121,678
Proceeds from issuance of common stock and warrants, net of issuance costs	1,676	3,414	124,865
Proceeds from the exercise of stock options and warrants, net of issuance costs	'	'	267
Payment of preferred stock dividend	-50	-129	-2,253
Repayment of government loan	'	'	-455
Government loan received	'	'	414
Loan received from Cyclacel Group plc	'	'	9,103
Proceeds of committable loan notes issued from shareholders	'	'	8,883
Loans received from shareholders	'	'	1,645
Cash and cash equivalents assumed on stock purchase of Xcyte	'	'	17,915
Costs associated with stock purchase	'	'	-1,951
Net cash provided by financing activities	1,626	3,285	276,392
Effect of exchange rate changes on cash and cash equivalents	43	-230	411
Net (decrease) increase in cash and cash equivalents	-2,992	-2,273	28,154
Cash and cash equivalents, beginning of period	31,146	16,412	'
Cash and cash equivalents, end of period	28,154	14,139	28,154
Cash received during the period for:	'	'	'
Interest	1	1	11,769
Taxes	'	'	19,742
Cash paid during the period for:	'	'	'
Taxes	25	'	25
Interest	'	'	-1,914
Schedule of non-cash transactions:	'	'	'
Acquisitions of equipment purchased through capital leases	'	'	3,470
Issuance of shares of common stock in connection with license agreements	'	'	592
Issuance of Ordinary shares on conversion of bridging loan	'	'	1,638
Issuance of Preferred Ordinary 'C' shares on conversion of secured convertible loan notes and accrued interest	'	'	8,893
Issuance of Ordinary shares in lieu of cash bonus	'	181	345
Issuance of other long term payable on ALIGN acquisition	'	'	$1,122

NATURE_OF_OPERATIONS_AND_BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2014
Organization of the Company	'
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	'
	1	NATURE OF OPERATIONS AND BASIS OF PRESENTATION
	Nature of Operations
	Cyclacel Pharmaceuticals, Inc. (“Cyclacel” or “the Company”), a development-stage biopharmaceutical company, is a pioneer in the field of cell cycle biology with a vision to improve patient healthcare with orally available innovative medicines. Cyclacel’s goal is to develop and commercialize small molecule drugs that target the various phases of cell cycle control for the treatment of cancer and other serious diseases, particularly those of high unmet medical need.
	Cyclacel’s clinical development priorities are focused on sapacitabine, an orally available, cell cycle modulating nucleoside analogue.
	Sapacitabine is being evaluated in the SEAMLESS Phase 3 study being conducted under a Special Protocol Assessment (“SPA”) agreement with the US Food and Drug Administration (“FDA”) for the front-line treatment of acute myeloid leukemia (“AML”) in the elderly and in Phase 2 studies for AML, myelodysplastic syndromes (“MDS”), non-small cell lung cancer (“NSCLC”) and chronic lymphocytic leukemia. Sapacitabine is also being evaluated in a Phase 1 study in combination with seliciclib, our second clinical candidate, in patients with solid tumors, in particular those carrying gBRCA mutations. The FDA and the European Medicines Agency (“EMA”), have designated sapacitabine as an orphan drug for the treatment of both AML and MDS.
	In our second development program we are evaluating cyclin dependent kinase, or CDK, inhibitors. CDKs are involved in cancer cell growth, metastatic spread and DNA damage repair. Seliciclib, our most advanced CDK inhibitor, is an oral, highly selective inhibitor of CDK enzymes. To date, seliciclib has been evaluated in several Phase 1 and 2 studies in various cancers, including NSCLC and nasopharyngeal cancer (“NPC”), and has shown signs of anti-cancer activity. Seliciclib will also be evaluated in an investigator-initiated clinical study to treat rheumatoid arthritis, or RA, supported by an approximately $1.5 million grant from the United Kingdom's Medical Research Council.
	Our second generation CDK inhibitor, CYC065, is an oral, highly selective inhibitor of CDK enzymes. CYC065 has been shown to have increased anti-proliferative potency and improved pharmaceutical properties compared to seliciclib. Investigational new drug (“IND”), enabling studies with CYC065 are in progress supported by a $1.9 million grant from the Biomedical Catalyst of the United Kingdom government.
	In addition to these development programs, in our polo-like kinase (“PLK”) inhibitor program, we have discovered CYC140 and other potent and selective small molecule inhibitors of PLK1, a kinase active during cell division, targeting the mitotic phase of the cell cycle. PLK was discovered by Professor David Glover, our Chief Scientist. We have received a grant award of approximately $3.7 million from the Biomedical Catalyst of the United Kingdom government to complete IND-directed preclinical development of CYC140.
	We currently retain virtually all marketing rights worldwide to the compounds associated with our drug programs.
	As a development stage enterprise, substantially all efforts of the Company to date have been devoted to performing research and development, conducting clinical trials, developing and acquiring intellectual property, raising capital and recruiting and training personnel.
	Capital Resources
	The Company’s existing capital resources are expected to be sufficient to take the Company beyond the completion of the SEAMLESS Phase 3 trial but not sufficient to complete development of other indications or product candidates or to commercialize any of the Company’s product candidates.
	Basis of Presentation
	The condensed consolidated balance sheet as of March 31, 2014, the condensed consolidated statements of operations, comprehensive loss, and cash flows for the three months ended March 31, 2013 and 2014 and the period from August 13, 1996 (inception) to March 31, 2014, and all related disclosures contained in the accompanying notes are unaudited. The condensed consolidated balance sheet as of December 31, 2013 is derived from the audited consolidated financial statements included in the 2013 Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”). The condensed consolidated financial statements are presented on the basis of accounting principles that are generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the SEC. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments necessary to present fairly the condensed consolidated balance sheet as of March 31, 2014, and the results of operations, comprehensive loss and cash flows for the three months ended March 31, 2014, have been made. The interim results for the three months ended March  31, 2014 are not necessarily indicative of the results to be expected for the year ending December 31, 2014 or for any other year. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the accompanying notes for the year ended December 31, 2013, included in the Company’s Annual Report on Form 10-K filed with the SEC.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2014
Summary of Significant Accounting Policies	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Use of Estimates
	The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical estimates include product returns reserve percentages and inputs used to determine stock-based compensation expense and the fair value of financial instruments and other liabilities measured at fair value. Cyclacel reviews its estimates on an ongoing basis. The estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results may differ from these estimates. Cyclacel believes the judgments and estimates required by the following accounting policies to be significant in the preparation of the Company’s consolidated financial statements.
	Risks and Uncertainties
	Drug candidates developed by the Company typically will require approvals or clearances from the FDA or other international regulatory agencies prior to commercial sales. There can be no assurance that the Company’s drug candidates will receive any of the required approvals or clearances. If the Company was denied approval or clearance or such approval was delayed, or is unable to obtain the necessary financing to complete development and approval, there will be a material adverse impact on the Company’s financial condition and results of operations.
	Cash and Cash Equivalents
	Cash equivalents are stated at cost, which is substantially the same as fair value. The Company considers all highly liquid investments with an original maturity of three months or less at the time of initial purchase to be cash equivalents and categorizes such investments as held to maturity. The objectives of the Company’s cash management policy are to safeguard and preserve funds, to maintain liquidity sufficient to meet Cyclacel’s cash flow requirements and to attain a market rate of return.
	Fair Value of Financial Instruments
	Financial instruments consist of cash and cash equivalents, accounts payable, accrued liabilities, common stock warrants, financial instruments associated with stock purchase agreements, and other arrangements. The carrying amounts of cash and cash equivalents, accounts payable, and accrued liabilities approximate their respective fair values due to the nature of the accounts, notably their short maturities. The financial instruments associated with stock purchase agreements and certain other liabilities are measured at fair value using applicable inputs as described in Note 3 - Fair Value.
	Revenue Recognition
	Grant revenues from government agencies and private research foundations are recognized as the related qualified research and development costs are incurred, up to the limit of the prior approval funding amounts. Grant revenues are not refundable.
	In prior periods, certain of the Company’s revenues were earned from collaborative agreements. The Company recognized revenue when persuasive evidence of an arrangement existed; delivery occurred or services were rendered; the fee was fixed or determinable; and collectability was reasonably assured. Determination of whether these criteria have been met was based on management’s judgments regarding the nature of the research performed, the substance of the milestones met relative to those that were still to be performed, and the collectability of any related fees. Should changes in conditions cause management to determine these criteria are not met for certain future transactions, revenue recognized for any reporting period could be adversely affected.
	Also in prior periods, research and development revenues were earned under agreements with third parties for contract research and development activities. Such revenues were recorded as the related services were performed. Milestone payments were non-refundable and recognized as revenue when earned, as evidenced by achievement of the specified milestones and the absence of ongoing performance obligations. Any amounts received in advance of performance were recorded as deferred revenue. None of the revenues recognized to date are refundable if the relevant research effort is not successful.
	Clinical Trial Accounting
	Data management and monitoring of the Company’s clinical trials are performed with the assistance of contract research organizations (“CROs”) or clinical research associates (“CRAs”) in accordance with the Company’s standard operating procedures. Typically, CROs and some CRAs bill monthly for services performed, and others bill based upon milestones achieved. For outstanding amounts, the Company accrues unbilled clinical trial expenses based on estimates of the level of services performed each period. Costs of setting up clinical trial sites for participation in the trials are expensed immediately as research and development expenses. Clinical trial costs related to patient enrollment are accrued as patients are entered into and progress through the trial. Any initial payment made to the clinical trial site is recognized upon execution of the clinical trial agreements and expensed as research and development expenses.
	Research and Development Expenditures
	Research and development expenses consist primarily of costs associated with the Company’s product candidates, upfront fees, milestones, compensation and other expenses for research and development personnel, supplies and development materials, costs for consultants and related contract research, facility costs and depreciation. Expenditures relating to research and development are expensed as incurred.
	Foreign Currency and Currency Translation
	Transactions that are denominated in a foreign currency are remeasured into the functional currency at the current exchange rate on the date of the transaction. Any foreign currency-denominated monetary assets and liabilities are subsequently remeasured at current exchange rates, with gains or losses recognized as foreign exchange (losses) gains in the statement of operations.
	The assets and liabilities of the Company’s international subsidiary are translated from its functional currency into United States dollars at exchange rates prevailing at the balance sheet date. Average rates of exchange during the period are used to translate the statement of operations, while historical rates of exchange are used to translate any equity transactions.
	Translation adjustments arising on consolidation due to differences between average rates and balance sheet rates, as well as unrealized foreign exchange gains or losses arising from translation of intercompany loans that are of a long-term-investment nature, are recorded in other comprehensive income.
	Income Taxes
	The Company accounts for income taxes under the liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.
	The Company applies the accounting guidance codified in ASC 740 “Income taxes” (“ASC 740”) related to accounting for uncertainty in income taxes. ASC 740 specifies the accounting for uncertainty in income taxes recognized in a company’s financial statements by prescribing a minimum probability threshold a tax position is required to meet before being recognized in the financial statements.
	Credit is taken in the accounting period for research and development tax credits, which will be claimed from H. M. Revenue & Customs (“HMRC), the United Kingdom’s taxation and customs authority, in respect of qualifying research and development costs incurred in the same accounting period.
	Tax years 2011, 2012 and 2013 remain open to examination by major taxing jurisdictions to which the Company is subject, which are primarily in the United States and the United Kingdom, as carryforward attributes generated in years past may still be adjusted upon examination by the Internal Revenue Service (“IRS”), the HMRC or state tax authorities if they have or will be used in a future period. The Company is currently not under examination by the IRS or any other jurisdictions for any tax years.
	Income tax benefit, net from continuing operations, on the consolidated statements of operations of $0.6 million for the three months ended March 31, 2014 includes $0.6 million of research and development tax credits from the HMRC.
	Stock-based Compensation
	The Company grants stock options, restricted stock units and restricted stock to officers, employees and directors under the Amended and Restated Equity Incentive Plan (“2006 Plan”), which was approved on March 16, 2006, as amended on May 21, 2007, subsequently amended and restated on April 14, 2008, and further amended on May 23, 2012. Under the 2006 Plan, the Company has granted various types of awards, which are described more fully in Note 6 - Stock-Based Compensation Arrangements. The Company accounts for these awards under ASC 718 “Compensation — Stock Compensation” (“ASC 718”).
	ASC 718 requires measurement of compensation cost for all stock-based awards at fair value on date of grant and recognition of compensation over the requisite service period for awards expected to vest. The fair value of restricted stock and restricted stock units is determined based on the number of shares granted and the quoted price of the Company’s common stock on the date of grant. The determination of grant-date fair value for stock option awards is estimated using the Black-Scholes model, which includes variables such as the expected volatility of the Company’s share price, the anticipated exercise behavior of employees, interest rates, and dividend yields. These variables are projected based on historical data, experience, and other factors. Changes in any of these variables could result in material adjustments to the expense recognized for share-based payments. Such value is recognized as expense over the requisite service period, net of estimated forfeitures, using the straight-line attribution method. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from current estimates, such amounts are recorded as a cumulative adjustment in the period estimates are revised. The Company considers many factors when estimating expected forfeitures, including type of awards granted, employee class, and historical experience. Actual results and future estimates may differ substantially from current estimates.
	Segments
	After considering its business activities and geographic reach, the Company has concluded that it operates in just one operating segment being the discovery, development and commercialization of novel, mechanism-targeted drugs to treat cancer and other serious disorders, with development operations in two geographic areas, namely the United States and the United Kingdom.
	Net Loss Per Common Share
	The Company calculates net loss per common share in accordance with ASC 260 “Earnings Per Share” (“ASC 260”). Basic and diluted net loss per common share was determined by dividing net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. The Company’s potentially dilutive shares, which include outstanding common stock options, restricted stock, restricted stock units, convertible preferred stock and common stock warrants, have not been included in the computation of diluted net loss per share for all periods as the result would be anti-dilutive.
			March 31,		March 31,
			2013		2014
	Stock options			463,023		947,602
	Restricted stock units			124,474		119,248
	Convertible preferred stock			25,573		20,381
	Contingently issuable common stock and common stock warrants associated with Economic Rights			220,595		—
	Common stock warrants			1,973,27		1,440,022
	Total shares excluded from calculation			2,807,092		2,527,253
	Comprehensive Income (Loss)
	In accordance with ASC 220 “Comprehensive Income” (“ASC 220”), all components of comprehensive income (loss), including net income (loss), are reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Net income (loss) and other comprehensive income (loss), including foreign currency translation adjustments, are reported, net of any related tax effect, to arrive at comprehensive income (loss). No taxes were recorded on items of other comprehensive income.
	Recent Events
	On March 17, 2014, the Board of Directors (the “Board”) of the Company declared a quarterly cash dividend in the amount of $0.15 per share on the Company’s 6% Convertible Exchangeable Preferred Stock (“Preferred Stock”). The cash dividend was paid on May 1, 2014 to the holders of record of the Preferred Stock as of the close of business on April 18, 2014.
	Accounting Standards Adopted in the Period
	On January 1, 2014 the Company adopted guidance issued by the Financial Accounting Standards Board (“FASB”) relating to the presentation of an unrecognized tax benefit when a net operating loss carryforward (“NOL”), a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a NOL, a similar tax loss, or a tax credit carryforward, except to the extent it is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The adoption of this guidance has not had a material impact on our consolidated financial statements.
	On January 1, 2014 the Company adopted guidance issued by the FASB relating to certain foreign currency matters. This guidance clarifies the parent company’s accounting for the cumulative translation adjustment when a reporting entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity or of an investment in a foreign entity. The adoption of this guidance has not had a material impact on our consolidated financial statements.
	On January 1, 2014 the Company adopted guidance issued by the FASB relating to obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. This provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. The guidance should be applied retrospectively to all prior periods presented for those obligations resulting from joint and several liability arrangements that exist at the beginning of an entity’s fiscal year of adoption. The adoption of this guidance has not had a material impact on our consolidated financial statements.

FAIR_VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2014
Fair Value	'
FAIR VALUE	'
	3	FAIR VALUE
	As defined in ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”), fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:
		·	Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.
		·	Level 2: Inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly.
		·	Level 3: Unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.
	In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considering counterparty credit risk in its measurement of fair value.
	The fair value of the Company’s financial assets and liabilities that are measured on a recurring basis were determined using the following inputs as of December 31, 2013 (in $000s):
			Level 1		Level 2		Level 3		Total
	ASSETS
	Cash equivalents		$	26,476	$	—	$	—	$	26,476
	Financial instrument associated with stock Purchase Agreement			—		397		—		397
	Total assets		$	26,476	$	397	$	—	$	26,873
	LIABILITIES
	Other liabilities measured at fair value:
	Scottish Enterprise agreement			—		—		20		20
	Other liabilities measured at fair value			—		—		20		20
	Total liabilities		$	—	$	—	$	20	$	20
	The fair value of the Company’s financial assets and liabilities that are measured on a recurring basis were determined using the following inputs as of March 31, 2014 (in $000s):
			Level 1		Level 2		Level 3		Total
	ASSETS
	Cash equivalents		$	22,648	$	—	$	—	$	22,648
	Financial instrument associated with stock Purchase Agreement			—		350		—		350
	Total assets		$	22,648	$	350	$	—	$	22,998
	LIABILITIES
	Other liabilities measured at fair value:
	Scottish Enterprise agreement		$	—	$	—	$	20	$	20
	Other liabilities measured at fair value			—		—		20		20
	Total liabilities		$	—	$	—	$	20	$	20
	Financial Instrument Associated with Stock Purchase Agreement
	On November 14, 2013, the Company entered into a common stock purchase agreement with Aspire Capital Fund, LLC (“Aspire”) Aspire (the “Purchase Agreement”) under which Aspire purchased 511,509 shares of common stock for an aggregate purchase price of $2.0 million and committed to purchase up to an additional 3,042,038 shares from time to time as directed by the Company over the next two years at prices derived from the market prices on or near the date of each sale (see Note 8 – Stockholders’ Equity).
	The Company has accounted for the right to sell additional shares under the Purchase Agreement based on the guidance of ASC 815 “Derivative Financial Instruments” (“ASC 815”), which requires the instrument to be measured at fair value with changes in fair value reported in earnings. The instrument had a fair value of $0.5 million at the date of the transaction and a fair value of $0.4 million as of December 31, 2013 and March 31, 2014. The $47,000 decrease in the fair value of the Purchase Agreement during the three months ended March 31, 2014 was recognized as a loss in the consolidated statements of operations. The primary inputs used to determine fair value are the price of the Company’s common stock, the remaining term, and aggregate share purchases on the measurement date. The fair value of the Purchase Agreement is remeasured each reporting period and gains or losses will continue to be reported until the agreement is exhausted or expired.
	Economic Rights
	In 2012, the Company entered into a financing agreement with certain existing institutional stockholders. Under the terms of the agreement, investors received contractual rights to receive cash equal to 10% of any future litigation settlement related to the specified intellectual property, subject to a cap (the “Economic Rights”). The Economic Rights were accounted for as a derivative financial instrument under ASC 815 and measured at fair value.
	On April 3, 2013, the Company entered into a definitive agreement with Celgene Corporation (“Celgene”) to sell to Celgene four Cyclacel-owned patents related to the use of romidepsin injection, intellectual property to which the Economic Rights relates. In connection with the agreement, Celgene made to Cyclacel a one-time payment of $5.5 million and the litigation was dismissed. As a result, the holders of the Economic Rights were paid approximately $0.6 million in April 2013 in full satisfaction of the Company’s obligation under the Economic Rights. A $0.6 million decrease in the fair value of the Economic Rights during the three months ended March 31, 2013 was recognized as a gain in the consolidated statements of operations.
	Other Liabilities Measured at Fair Value
	Scottish Enterprise Agreement
	On June 22, 2009, the Company amended the Agreement with Scottish Enterprise (“SE”) (the “Amendment”), in order to allow the Company to implement a reduction of the Company’s research operations located in Scotland in exchange for the parties’ agreement to modify the payment terms of the Agreement in the principal amount of £5 million (approximately $8.0 million at December 31, 2009), which SE had previously entered into with the Company. The Agreement provided for repayment of up to £5 million in the event the Company significantly reduced its Scottish research operations. Pursuant to the terms of the Amendment, in association with Cyclacel’s material reduction in staff at its Scottish research facility, the parties agreed to a modified payment of £1 million (approximately $1.7 million at June 22, 2009) payable in two equal tranches. On July 1, 2009, the first installment of £0.5 million (approximately $0.8 million) was paid and the remaining amount of £0.5 million (approximately $0.8 million) was paid on January 6, 2010.
	In addition, should a further reduction below current minimum staff levels be effectuated before July 2014 without SE’s prior consent, the Company may be obligated to pay up to £4 million to SE, which will be calculated as a maximum of £4 million (approximately $6.5 million at December 31, 2013 and $6.7 million at March 31, 2014) less the market value of the shares held by SE at the time staffing levels in Scotland fall below the prescribed minimum levels. If the Company were to have reduced staffing levels below the prescribed levels, the amount potentially payable to SE would have been approximately £3.8 million (approximately $6.3 million) and approximately £3.9 million (approximately $6.4 million) at December 31, 2013 and March 31, 2014, respectively.
	This arrangement is accounted for as a liability under ASC Topic 480 “Distinguishing Liabilities from Equity” (“ASC 480”), and is measured at fair value. Changes in fair value are recognized in earnings. Due to the nature of the associated contingency and the likelihood of occurrence, the Company has concluded the fair value of this liability was approximately $20,000 at December 31, 2013 and March 31, 2014, respectively. The most significant inputs in estimating the fair value of this liability are the probabilities that staffing levels fall below the prescribed minimum and that the Company is unable or unwilling to replace such employees within the prescribed time period. At both December 31, 2013 and March 31, 2014, the Company used a scenario analysis model to arrive at the fair value of the Scottish Enterprise Agreement and assumed a 30% probability of falling below a minimum staffing level and a 1% probability that the occurrence of such an event would not be cured within the prescribed time period. At each reporting period, the inputs used to determine the fair value of the liability will be evaluated to determine whether adjustments are appropriate. Any changes in the value of this liability are recorded in the consolidated statement of operations.

PREPAID_EXPENSES_AND_OTHER_CUR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	3 Months Ended
	Mar. 31, 2014
Prepaid Expenses And Other Current Assets [Abstract]	'
PREPAID EXPENSES AND OTHER CURRENT ASSETS	'
	4	PREPAID EXPENSES AND OTHER CURRENT ASSETS
	The following is a summary of prepaid expenses and other current assets at December 31, 2013 and March 31, 2014 (in $000s):
			December 31,		March 31,
			2013		2014
	Research and development tax credit receivable		$	1,744	$	2,329
	Prepayments			427		1,077
	Grant receivable			357		247
	Sales tax receivable			209		440
	Deposits			132		142
	Other current assets			519		483
			$	3,388	$	4,718

ACCRUED_AND_OTHER_CURRENT_LIAB

ACCRUED AND OTHER CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2014
Accrued and Other Current Liabilities	'
ACCRUED AND OTHER CURRENT LIABILITIES	'
	5	ACCRUED AND OTHER CURRENT LIABILITIES
	Accrued and other current liabilities consisted of the following (in $000s):
			December 31,		March 31,
			2013		2014
	Accrued research and development		$	3,565	$	3,218
	Accrued legal and professional fees			265		244
	Other current liabilities			842		349
			$	4,672	$	3,811

STOCK_BASED_COMPENSATION

STOCK BASED COMPENSATION	3 Months Ended
	Mar. 31, 2014
Stock-Based Compensation Arrangements	'
STOCK BASED COMPENSATION	'
	6	STOCK BASED COMPENSATION
	ASC 718 requires compensation expense associated with share-based awards to be recognized over the requisite service period, which for the Company is the period between the grant date and the date the award vests or becomes exercisable. Most of the awards granted by the Company (and still outstanding), vest ratably over three to four years. Certain awards made to executive officers vest over three to five years, depending on the terms of their employment with the Company.
	The Company recognizes all share-based awards under the straight-line attribution method. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company evaluates its forfeiture assumptions quarterly and the expected forfeiture rate is adjusted when necessary. Ultimately, the actual expense recognized over the vesting period is based on only those shares that vest.
	Stock based compensation has been reported within expense line items on the consolidated statement of operations for the three months ended March 31, 2013 and 2014 as shown in the following table (in $000s):
			Three Months Ended
			March 31,
			2013			2014
	General and administrative		$	57		$	129
	Research and development			15			58
	Stock-based compensation costs before income taxes		$	72		$	187
	2006 Plan
	On March 16, 2006, the 2006 Plan was adopted, under which Cyclacel may make equity incentive grants to its officers, employees, directors and consultants. At the Company’s annual shareholder meeting on May 23, 2012, the stockholders approved and amended the number of shares reserved under the 2006 Plan to 1,428,571 shares of the Company’s common stock, up from 742,857 shares. Stock option awards granted under the 2006 Plan have a maximum life of 10 years and generally vest over a four-year period from the date of grant.
	There were no options granted during the three months ended March 31, 2013 and 2014.
	There were no stock options exercised during the three months ended March 31, 2013 and 2014. The Company does not expect to be able to benefit for the deduction for stock option exercises that may occur during the year ended December 31, 2014 because the company has tax loss carryforwards from prior periods that would be expected to offset any potential taxable income for the year ended December 31, 2014.
	Outstanding Options
	A summary of the share option activity and related information is as follows:
			Number of			Weighted		Weighted		Aggregate
			Options			Average		Average		Intrinsic
			Outstanding			Exercise		Remaining		Value ($000)
						Price Per Share		Contractual
								Term (Years)
	Options outstanding at December 31, 2013			949,685		$	15.02		7.38	$	152
	Granted			—		$	—
	Exercised			—		$	—
	Cancelled/forfeited			(2,083	)	$	35.03
	Options outstanding at March 31, 2014			947,602		$	14.97		7.14	$	92
	Unvested at March 31, 2014			480,824		$	4.42		9.53	$	24
	Vested and exercisable at March 31, 2014			466,778		$	25.85		4.67	$	68
	The fair value of the stock options granted is calculated using the Black-Scholes option-pricing model as prescribed by ASC 718.
	The expected term assumption is estimated using past history of early exercise behavior and expectations about future behaviors.
	Estimates of pre-vesting option forfeitures are based on the Company’s experience. Currently the Company uses a forfeiture rate of 0 - 30% depending on when and to whom the options are granted. The Company adjusts its estimate of forfeitures over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative adjustment in the period of change and may impact the amount of compensation expense to be recognized in future periods.
	The Company considers many factors when estimating expected forfeitures, including types of awards, employee class, and historical experience.
	The weighted average risk-free interest rate represents interest rate for treasury constant maturities published by the Federal Reserve Board. If the term of available treasury constant maturity instruments is not equal to the expected term of an employee option, Cyclacel uses the weighted average of the two Federal Reserve securities closest to the expected term of the employee option.
	Restricted Stock Units
	Summarized information for restricted stock unit activity for the three months ended March 31, 2014 is as follows:
			Restricted Stock			Weighted Average
			Units (1)			Grant
						Date Value Per Share
	Non-vested at December 31, 2013			119,248		$	5.62
	Granted			—		$	—
	Forfeited			—		$	—
	Non-vested at March 31, 2014			119,248		$	5.62
		-1	Includes 85,097 restricted stock units issued that will vest upon the fulfillment of certain clinical and financial conditions.
	The Company issued 85,097 restricted stock units to employees during the three months ended March 31, 2013 that will vest upon the fulfillment of certain clinical and financial conditions and will terminate if they have not vested by December 31, 2014. The Company determined that the satisfaction of the vesting criteria was not probable as of March 31, 2014 and, as a result, did not record any expense related to these awards for the three months ended March 31, 2014. The Company did not issue any restricted stock units during the three months ended March 31, 2014.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies	'
COMMITMENTS AND CONTINGENCIES	'
	7	COMMITMENTS AND CONTINGENCIES
	Distribution, Licensing and Research Agreements
	The Company has entered into licensing agreements with academic and research organizations. Under the terms of these agreements, the Company has received licenses to technology and patent applications. The Company is required to pay royalties on future sales of product employing the technology or falling under claims of patent applications.
	Pursuant to the Daiichi Sankyo license under which the Company licenses certain patent rights for sapacitabine, its lead drug candidate, the Company is under an obligation to use reasonable endeavors to develop a product and obtain regulatory approval to sell a product and has agreed to pay Daiichi Sankyo an up-front fee, reimbursement for Daiichi Sankyo’s enumerated expenses, milestone payments and royalties on a country-by-country basis. The up-front fee, Phase 3 entry milestone, and certain past reimbursements have been paid. A further $10.0 million in aggregate milestone payments could be payable subject to achievement of all the specific contractual milestones and the Company’s decision to continue with these projects. Royalties are payable in each country for the term of patent protection in the country or for ten years following the first commercial sale of licensed products in the country, whichever is later. Royalties are payable on net sales. Net sales are defined as the gross amount invoiced by the Company or its affiliates or licensees, less discounts, credits, taxes, shipping and bad debt losses. The agreement extends from its commencement date to the date on which no further amounts are owed under it. If the Company wishes to appoint a third party to develop or commercialize a sapacitabine-based product in Japan, within certain limitations, Daiichi Sankyo must be notified and given a right of first refusal to develop and/or commercialize in Japan. In general, the license may be terminated by the Company for technical, scientific, efficacy, safety, or commercial reasons on nine months’ notice, or twelve months, if after a launch of a sapacitabine-based product, or by either party for material default.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity	'
STOCKHOLDERS' EQUITY	'
	8	STOCKHOLDERS’ EQUITY
	Preferred Stock
	As of March 31, 2014, there were 335,273 shares of the Company’s 6% Convertible Exchangeable Preferred Stock (“Preferred Stock”) issued and outstanding at an issue price of $10.00 per share. Dividends on the Preferred Stock are cumulative from the date of original issuance at the annual rate of 6% of the liquidation preference of the Preferred Stock, payable quarterly on the first day of February, May, August and November, commencing February 1, 2005. Any dividends must be declared by the Company’s Board of Directors (the “Board”) and must come from funds that are legally available for dividend payments. The Preferred Stock has a liquidation preference of $10 per share, plus accrued and unpaid dividends.
	The Preferred Stock is convertible at the option of the holder at any time into the Company’s shares of common stock at a conversion rate of approximately 0.06079 shares of common stock for each share of Preferred Stock based on a price of $164.50. The Company has reserved 20,381 shares of common stock for issuance upon conversion of the remaining shares of Preferred Stock outstanding at March 31, 2014. The shares of previously-converted Preferred Stock have been retired, cancelled and restored to the status of authorized but unissued shares of preferred stock, subject to reissuance by the Board of Directors as shares of Preferred Stock of one or more series.
	The Company may automatically convert the Preferred Stock into common stock if the closing price of the Company’s common stock has exceeded $246.75, which is 150% of the conversion price of the Preferred Stock, for at least 20 trading days during any 30-day trading period, ending within five trading days prior to notice of automatic conversion.
	The Certificate of Designations governing the Preferred Stock provides that if the Company fails to pay dividends on its Preferred Stock for six quarterly periods, holders of Preferred Stock are entitled to nominate and elect two directors to the Company’s Board of Directors. This right accrued to the holders of Preferred Stock as of August 2, 2010 and two directors were nominated and elected at the annual meeting held on May 24, 2011.
	The Preferred Stock has no maturity date and no voting rights prior to conversion into common stock, except under limited circumstances.
	The Company may, at its option, redeem the Preferred Stock in whole or in part, out of funds legally available at the redemption prices per share stated below, plus an amount equal to accrued and unpaid dividends up to the date of redemption:
	Year from November 1, 2013 to October 31, 2014		$	10.06
	November 1, 2014 and thereafter		$	10
	The Preferred Stock is exchangeable, in whole but not in part, at the option of the Company on any dividend payment date beginning on November 1, 2005 (the “Exchange Date”) for the Company’s 6% Convertible Subordinated Debentures (“Debentures”) at the rate of $10 principal amount of Debentures for each share of Preferred Stock. The Debentures, if issued, will mature 25 years after the Exchange Date and have terms substantially similar to those of the Preferred Stock. No such exchanges have taken place to date.
	Conversion of Convertible Preferred Stock
	During the three months ended March 31, 2013, the Company converted an aggregate of 792,460 shares of Preferred Stock into an aggregate of 1,513,653 shares of the Company’s common stock. There were no conversions of the Company’s Preferred Stock into shares of common stock during the three months ended March 31, 2014. Since the Company’s transaction with Xcyte Therapies, Inc. in 2006, holders have exchanged 1,711,540 shares of Preferred Stock into common stock as a result of arms-length negotiations between the Company and the other parties.
	The table below provides details of the aggregate activities during the three months ended March 31, 2013:
			Three
			Months Ended
			March 31,
			2013
	Preferred shares exchanged			792,460
	Shares of common stock issued:
	At stated conversion terms			48,174
	Incremental shares issued under the exchange transaction			1,465,479
	Total shares of common stock issued			1,513,653
	As the Preferred stockholders received additional shares of common stock issued to them upon conversion as compared to what they would have been entitled to receive under the stated rate of exchange, the Company recorded the excess of (1) the fair value of all securities and other consideration transferred to the holders of the Preferred Stock and (2) the fair value of securities issuable pursuant to the original conversion terms as a deemed dividend resulting in an increase in the net loss attributable to common shareholders. Specifically, the Company recorded deemed dividends related to the additional shares issued under the exchange transactions of $8.4 million for the three months ended March 31, 2013.
	Common Stock
	November 2013 Stock Purchase Agreement
	On November 14, 2013, the Company entered into a common stock Purchase Agreement with Aspire. Upon execution of the Purchase Agreement, Aspire purchased 511,509 shares of common stock for an aggregate purchase price of $2.0 million. Under the terms of the Purchase Agreement, Aspire has committed to purchase up to an additional 3,042,038 shares from time to time as directed by the Company or, in certain instances, as agreed to by both parties, over the next two years at prices derived from the market prices on or near the date of each sale. However, such commitment is limited to an additional $18.0 million of share purchases. In consideration for entering into the Purchase Agreement, concurrent with the execution of the Purchase Agreement, the Company issued 166,105 shares of the Company’s common stock to Aspire in lieu of a commitment fee. The fair value of these shares has been recorded as a component of other assets and will continue to be remeasured each reporting period, until the agreement is exhausted or expired, with gains or losses reported in the consolidated statements of operations. During the three months ended March 31, 2014, the Company sold 450,000 shares to Aspire under the Purchase Agreement for proceeds of $1.7 million.
	May 2013 Underwriting Agreement
	On May 16, 2013, the Company entered into an underwriting agreement relating to the public offering and sale of up to 6,666,667 shares of the Company’s common stock, par value $0.001, at a price to the public of $3.00 per share. On May 21, 2013, the Company closed the public offering and completed the sale of 6,833,334 shares of its common stock, which includes 166,667 shares that were subject to the underwriters’ over-allotment option, at a price to the public of $3.00 per share, for proceeds, net of certain fees and expenses, of approximately $19.0 million.
	Common Stock Bonus
	During the three months ended March 31, 2013, the Company issued 31,643 shares of common stock with a fair value of approximately $0.2 million to employees in lieu of cash in connection with bonuses recorded for the year ended December 31, 2012. There were no such stock issuances during the three months ended March 31, 2014.
	December 2012 Stock Purchase Agreement
	On December 14, 2012, the Company entered into a common stock purchase agreement with Aspire. Upon execution of the purchase agreement, Aspire purchased 158,982 shares of common stock for an aggregate purchase price of $1.0 million based on the closing price of the Company’s common stock on December 13, 2012, the date upon which the business terms were agreed. Under the terms of the purchase agreement, Aspire committed to purchase up to an additional 1,455,787 shares from time to time as directed by the Company over the next two years at prices derived from the market prices on or near the date of each sale. However, such commitment was limited to an additional $19.0 million of share purchases. In consideration for entering into the Purchase Agreement, concurrent with the execution of the Purchase Agreement, the Company issued 74,548 shares of the Company’s common stock to Aspire in lieu of a commitment fee. The fair value of the 74,548 shares of common stock along with the direct costs incurred in the connection with the Aspire transaction have been allocated to the shares sold at inception of this agreement and the right to sell additional shares in the future based on the ratio of shares sold at inception to the listed shares subject to this agreement. The agreement terminated on November 14, 2013 and no rights or obligations remain under the agreement.
	March 2012 Sale of Common Stock and Economic Rights
	On March 22, 2012, the Company entered into a purchase agreement with certain existing institutional stockholders, raising approximately $2.9 million of proceeds, net of certain fees and expenses. The proceeds from the financing were used to fund ongoing litigation-related expenses on certain intellectual property and for general corporate purposes. Under the terms of the purchase agreement, the investors purchased 669,726 shares of the Company’s common stock at a price of $4.53, which is equal to the 10-day average closing price of the Company’s common stock for the period ending on March 21, 2012. The shares issued at closing were subject to a lock-up period of one year from the date of issuance.
	In addition to the common stock, investors received contractual rights to receive cash equal to 10% of any future litigation settlement related to the specified intellectual property, subject to a cap. In April 2013, the Economic Rights were settled for payment of $0.6 million.
	Common Stock Warrants
	The following table summarizes information about warrants outstanding at March 31, 2014:
	Issued in Connection With		Expiration		Common		Weighted
			Date		Shares		Average
					Issuable		Exercise
							Price
	July 2009 Series II stock issuance		2014			98,893	$	7
	January 2010 stock issuance		2015			101,785	$	22.82
	January 2010 stock issuance		2015			100,714	$	19.95
	October 2010 stock issuance		2015			594,513	$	13.44
	July 2011 stock issuance		2016			544,117	$	9.52
	Total					1,440,022	$	12.63
	There were no exercises of warrants during the three months ended March 31, 2013 and 2014. Warrants, for 151,773 shares of common stock, issued in connection with the February 2007 stock issuance expired during the three months ended March 31, 2014.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
	Mar. 31, 2014
Discontinued Operations	'
DISCONTINUED OPERATIONS	'
	9	DISCONTINUED OPERATIONS
	On August 10, 2012, the Company entered into an agreement with Sinclair Pharmaceuticals Limited (“Sinclair”) to terminate, effective September 30, 2012, the distribution agreements relating to the promotion and sale of Xclair®, Numoisyn® Lozenges and Numoisyn® Liquid (collectively, the “ALIGN products”).
	Product revenue, cost of goods sold and selling, general and administrative costs related to the promotion and sale of the ALIGN products have been reclassified from operating results from continuing operations to (loss) income from discontinued operations in the consolidated statement of operations for all periods presented as follows (in $000s):
			Three Months Ended						Period from
			March 31,						August 13,
									1996
									(inception) to
									March 31,
			2013			2014			2014
	Product revenue		$	—		$	—		$	3,604
	Cost of goods sold			—			—			(2,045	)
	Selling, general and administrative			—			—			(9,295	)
	Goodwill and intangible impairment			—			—			(5,187	)
	Interest income			26			13			136
	Interest expense			—			—			(110	)
	Gain on termination of license agreement			—			—			1,192
	Income (loss) from discontinued operations			26			13			(11,705	)
	Income tax on discontinued operations			(10	)		(5	)		(376	)
	Net income (loss) from discontinued operations		$	16		$	8		$	(12,081	)
	The assets and liabilities associated with product promotion and sales have been classified within assets and liabilities of discontinued operations in the accompanying consolidated balance sheets (in $000s):
			December 31,			March 31,
			2013			2014
	Current assets of discontinued operations:
	Short term portion of minimum royalty arrangement receivable, net		$	379		$	320
	Returns indemnification receivable			260			260
	Total current assets of discontinued operations			639			580
	Long-term assets of discontinued operations:
	Long-term portion of minimum royalty arrangement receivable, net			72			48
	Total assets of discontinued operations		$	711		$	628
	Current liabilities of discontinued operations:
	Returns provision		$	260		$	260
	Total current liabilities of discontinued operations		$	260		$	260

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2014
Subsequent Events	'
SUBSEQUENT EVENTS	'
	10	SUBSEQUENT EVENTS
	Underwriting Agreement
	On April 3, 2014, the Company entered into an underwriting agreement relating to the public offering and sale of 2,857,143 shares of the Company’s common stock at a price to the public of $3.50 per share for net proceeds of approximately $9.3 million, net of underwriters’ discounts and commissions and other offering expenses.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2014
Summary of Significant Accounting Policies	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical estimates include product returns reserve percentages and inputs used to determine stock-based compensation expense and the fair value of financial instruments and other liabilities measured at fair value. Cyclacel reviews its estimates on an ongoing basis. The estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results may differ from these estimates. Cyclacel believes the judgments and estimates required by the following accounting policies to be significant in the preparation of the Company’s consolidated financial statements.
Risks and Uncertainties	'
	Risks and Uncertainties
	Drug candidates developed by the Company typically will require approvals or clearances from the FDA or other international regulatory agencies prior to commercial sales. There can be no assurance that the Company’s drug candidates will receive any of the required approvals or clearances. If the Company was denied approval or clearance or such approval was delayed, or is unable to obtain the necessary financing to complete development and approval, there will be a material adverse impact on the Company’s financial condition and results of operations.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	Cash equivalents are stated at cost, which is substantially the same as fair value. The Company considers all highly liquid investments with an original maturity of three months or less at the time of initial purchase to be cash equivalents and categorizes such investments as held to maturity. The objectives of the Company’s cash management policy are to safeguard and preserve funds, to maintain liquidity sufficient to meet Cyclacel’s cash flow requirements and to attain a market rate of return.
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	Financial instruments consist of cash and cash equivalents, accounts payable, accrued liabilities, common stock warrants, financial instruments associated with stock purchase agreements, and other arrangements. The carrying amounts of cash and cash equivalents, accounts payable, and accrued liabilities approximate their respective fair values due to the nature of the accounts, notably their short maturities. The financial instruments associated with stock purchase agreements and certain other liabilities are measured at fair value using applicable inputs as described in Note 3 - Fair Value.
Revenue Recognition	'
	Revenue Recognition
	Grant revenues from government agencies and private research foundations are recognized as the related qualified research and development costs are incurred, up to the limit of the prior approval funding amounts. Grant revenues are not refundable.
	In prior periods, certain of the Company’s revenues were earned from collaborative agreements. The Company recognized revenue when persuasive evidence of an arrangement existed; delivery occurred or services were rendered; the fee was fixed or determinable; and collectability was reasonably assured. Determination of whether these criteria have been met was based on management’s judgments regarding the nature of the research performed, the substance of the milestones met relative to those that were still to be performed, and the collectability of any related fees. Should changes in conditions cause management to determine these criteria are not met for certain future transactions, revenue recognized for any reporting period could be adversely affected.
	Also in prior periods, research and development revenues were earned under agreements with third parties for contract research and development activities. Such revenues were recorded as the related services were performed. Milestone payments were non-refundable and recognized as revenue when earned, as evidenced by achievement of the specified milestones and the absence of ongoing performance obligations. Any amounts received in advance of performance were recorded as deferred revenue. None of the revenues recognized to date are refundable if the relevant research effort is not successful.
Clinical Trial Accounting	'
	Clinical Trial Accounting
	Data management and monitoring of the Company’s clinical trials are performed with the assistance of contract research organizations (“CROs”) or clinical research associates (“CRAs”) in accordance with the Company’s standard operating procedures. Typically, CROs and some CRAs bill monthly for services performed, and others bill based upon milestones achieved. For outstanding amounts, the Company accrues unbilled clinical trial expenses based on estimates of the level of services performed each period. Costs of setting up clinical trial sites for participation in the trials are expensed immediately as research and development expenses. Clinical trial costs related to patient enrollment are accrued as patients are entered into and progress through the trial. Any initial payment made to the clinical trial site is recognized upon execution of the clinical trial agreements and expensed as research and development expenses.
Research and Development Expenditures	'
	Research and Development Expenditures
	Research and development expenses consist primarily of costs associated with the Company’s product candidates, upfront fees, milestones, compensation and other expenses for research and development personnel, supplies and development materials, costs for consultants and related contract research, facility costs and depreciation. Expenditures relating to research and development are expensed as incurred.
Foreign Currency and Currency Translation	'
	Foreign Currency and Currency Translation
	Transactions that are denominated in a foreign currency are remeasured into the functional currency at the current exchange rate on the date of the transaction. Any foreign currency-denominated monetary assets and liabilities are subsequently remeasured at current exchange rates, with gains or losses recognized as foreign exchange (losses) gains in the statement of operations.
	The assets and liabilities of the Company’s international subsidiary are translated from its functional currency into United States dollars at exchange rates prevailing at the balance sheet date. Average rates of exchange during the period are used to translate the statement of operations, while historical rates of exchange are used to translate any equity transactions.
	Translation adjustments arising on consolidation due to differences between average rates and balance sheet rates, as well as unrealized foreign exchange gains or losses arising from translation of intercompany loans that are of a long-term-investment nature, are recorded in other comprehensive income.
Income Taxes	'
	Income Taxes
	The Company accounts for income taxes under the liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.
	The Company applies the accounting guidance codified in ASC 740 “Income taxes” (“ASC 740”) related to accounting for uncertainty in income taxes. ASC 740 specifies the accounting for uncertainty in income taxes recognized in a company’s financial statements by prescribing a minimum probability threshold a tax position is required to meet before being recognized in the financial statements.
	Credit is taken in the accounting period for research and development tax credits, which will be claimed from H. M. Revenue & Customs (“HMRC), the United Kingdom’s taxation and customs authority, in respect of qualifying research and development costs incurred in the same accounting period.
	Tax years 2011, 2012 and 2013 remain open to examination by major taxing jurisdictions to which the Company is subject, which are primarily in the United States and the United Kingdom, as carryforward attributes generated in years past may still be adjusted upon examination by the Internal Revenue Service (“IRS”), the HMRC or state tax authorities if they have or will be used in a future period. The Company is currently not under examination by the IRS or any other jurisdictions for any tax years.
	Income tax benefit, net from continuing operations, on the consolidated statements of operations of $0.6 million for the three months ended March 31, 2014 includes $0.6 million of research and development tax credits from the HMRC.
Stock-based Compensation	'
	Stock-based Compensation
	The Company grants stock options, restricted stock units and restricted stock to officers, employees and directors under the Amended and Restated Equity Incentive Plan (“2006 Plan”), which was approved on March 16, 2006, as amended on May 21, 2007, subsequently amended and restated on April 14, 2008, and further amended on May 23, 2012. Under the 2006 Plan, the Company has granted various types of awards, which are described more fully in Note 6 - Stock-Based Compensation Arrangements. The Company accounts for these awards under ASC 718 “Compensation — Stock Compensation” (“ASC 718”).
	ASC 718 requires measurement of compensation cost for all stock-based awards at fair value on date of grant and recognition of compensation over the requisite service period for awards expected to vest. The fair value of restricted stock and restricted stock units is determined based on the number of shares granted and the quoted price of the Company’s common stock on the date of grant. The determination of grant-date fair value for stock option awards is estimated using the Black-Scholes model, which includes variables such as the expected volatility of the Company’s share price, the anticipated exercise behavior of employees, interest rates, and dividend yields. These variables are projected based on historical data, experience, and other factors. Changes in any of these variables could result in material adjustments to the expense recognized for share-based payments. Such value is recognized as expense over the requisite service period, net of estimated forfeitures, using the straight-line attribution method. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from current estimates, such amounts are recorded as a cumulative adjustment in the period estimates are revised. The Company considers many factors when estimating expected forfeitures, including type of awards granted, employee class, and historical experience. Actual results and future estimates may differ substantially from current estimates.
Segments	'
	Segments
	After considering its business activities and geographic reach, the Company has concluded that it operates in just one operating segment being the discovery, development and commercialization of novel, mechanism-targeted drugs to treat cancer and other serious disorders, with development operations in two geographic areas, namely the United States and the United Kingdom.
Net Loss Per Common Share	'
	Net Loss Per Common Share
	The Company calculates net loss per common share in accordance with ASC 260 “Earnings Per Share” (“ASC 260”). Basic and diluted net loss per common share was determined by dividing net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. The Company’s potentially dilutive shares, which include outstanding common stock options, restricted stock, restricted stock units, convertible preferred stock and common stock warrants, have not been included in the computation of diluted net loss per share for all periods as the result would be anti-dilutive.
		March 31,		March 31,
		2013		2014
	Stock options		463,023		947,602
	Restricted stock units		124,474		119,248
	Convertible preferred stock		25,573		20,381
	Contingently issuable common stock and common stock warrants associated with Economic Rights		220,595		—
	Common stock warrants		1,973,27		1,440,022
	Total shares excluded from calculation		2,807,092		2,527,253
Comprehensive Income (Loss)	'
	Comprehensive Income (Loss)
	In accordance with ASC 220 “Comprehensive Income” (“ASC 220”), all components of comprehensive income (loss), including net income (loss), are reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Net income (loss) and other comprehensive income (loss), including foreign currency translation adjustments, are reported, net of any related tax effect, to arrive at comprehensive income (loss). No taxes were recorded on items of other comprehensive income.
Recent Events	'
	Recent Events
	On March 17, 2014, the Board of Directors (the “Board”) of the Company declared a quarterly cash dividend in the amount of $0.15 per share on the Company’s 6% Convertible Exchangeable Preferred Stock (“Preferred Stock”). The cash dividend was paid on May 1, 2014 to the holders of record of the Preferred Stock as of the close of business on April 18, 2014.
Accounting Standards Adopted in the Period	'
	Accounting Standards Adopted in the Period
	On January 1, 2014 the Company adopted guidance issued by the Financial Accounting Standards Board (“FASB”) relating to the presentation of an unrecognized tax benefit when a net operating loss carryforward (“NOL”), a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a NOL, a similar tax loss, or a tax credit carryforward, except to the extent it is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The adoption of this guidance has not had a material impact on our consolidated financial statements.
	On January 1, 2014 the Company adopted guidance issued by the FASB relating to certain foreign currency matters. This guidance clarifies the parent company’s accounting for the cumulative translation adjustment when a reporting entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity or of an investment in a foreign entity. The adoption of this guidance has not had a material impact on our consolidated financial statements.
	On January 1, 2014 the Company adopted guidance issued by the FASB relating to obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. This provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. The guidance should be applied retrospectively to all prior periods presented for those obligations resulting from joint and several liability arrangements that exist at the beginning of an entity’s fiscal year of adoption. The adoption of this guidance has not had a material impact on our consolidated financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2014
Summary of Significant Accounting Policies	'
Schedule of antidilutive shares excluded from computation of diluted net loss per share	'
		March 31,		March 31,
		2013		2014
	Stock options		463,023		947,602
	Restricted stock units		124,474		119,248
	Convertible preferred stock		25,573		20,381
	Contingently issuable common stock and common stock warrants associated with Economic Rights		220,595		—
	Common stock warrants		1,973,27		1,440,022
	Total shares excluded from calculation		2,807,092		2,527,253

FAIR_VALUE_Tables

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value	'
Schedule of financial assets and liabilities measured on a recurring basis	'
	The fair value of the Company’s financial assets and liabilities that are measured on a recurring basis were determined using the following inputs as of December 31, 2013 (in $000s):
		Level 1		Level 2		Level 3		Total
	ASSETS
	Cash equivalents	$	26,476	$	—	$	—	$	26,476
	Financial instrument associated with stock Purchase Agreement		—		397		—		397
	Total assets	$	26,476	$	397	$	—	$	26,873
	LIABILITIES
	Other liabilities measured at fair value:
	Scottish Enterprise agreement		—		—		20		20
	Other liabilities measured at fair value		—		—		20		20
	Total liabilities	$	—	$	—	$	20	$	20
	The fair value of the Company’s financial assets and liabilities that are measured on a recurring basis were determined using the following inputs as of March 31, 2014 (in $000s):
		Level 1		Level 2		Level 3		Total
	ASSETS
	Cash equivalents	$	22,648	$	—	$	—	$	22,648
	Financial instrument associated with stock Purchase Agreement		—		350		—		350
	Total assets	$	22,648	$	350	$	—	$	22,998
	LIABILITIES
	Other liabilities measured at fair value:
	Scottish Enterprise agreement	$	—	$	—	$	20	$	20
	Other liabilities measured at fair value		—		—		20		20
	Total liabilities	$	—	$	—	$	20	$	20

PREPAID_EXPENSES_AND_OTHER_CUR1

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2014
Prepaid Expenses And Other Current Assets [Abstract]	'
Schedule of prepaid expenses and other current assets	'
		December 31,		March 31,
		2013		2014
	Research and development tax credit receivable	$	1,744	$	2,329
	Prepayments		427		1,077
	Grant receivable		357		247
	Sales tax receivable		209		440
	Deposits		132		142
	Other current assets		519		483
		$	3,388	$	4,718

ACCRUED_AND_OTHER_CURRENT_LIAB1

ACCRUED AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2014
Accrued and Other Current Liabilities	'
Schedule of accrued and other current liabilities	'
		December 31,		March 31,
		2013		2014
	Accrued research and development	$	3,565	$	3,218
	Accrued legal and professional fees		265		244
	Other current liabilities		842		349
		$	4,672	$	3,811

STOCK_BASED_COMPENSATION_Table

STOCK BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2014
Stock-Based Compensation Arrangements	'
Schedule of stock based compensation expense	'
			Three Months Ended
			March 31,
			2013			2014
	General and administrative		$	57		$	129
	Research and development			15			58
	Stock-based compensation costs before income taxes		$	72		$	187
Schedule of stock option activity	'
			Number of			Weighted		Weighted		Aggregate
			Options			Average		Average		Intrinsic
			Outstanding			Exercise		Remaining		Value ($000)
						Price Per Share		Contractual
								Term (Years)
	Options outstanding at December 31, 2013			949,685		$	15.02		7.38	$	152
	Granted			—		$	—
	Exercised			—		$	—
	Cancelled/forfeited			(2,083	)	$	35.03
	Options outstanding at March 31, 2014			947,602		$	14.97		7.14	$	92
	Unvested at March 31, 2014			480,824		$	4.42		9.53	$	24
	Vested and exercisable at March 31, 2014			466,778		$	25.85		4.67	$	68
Schedule of restricted stock units activity	'
			Restricted Stock			Weighted Average
			Units (1)			Grant
						Date Value Per Share
	Non-vested at December 31, 2013			119,248		$	5.62
	Granted			—		$	—
	Forfeited			—		$	—
	Non-vested at March 31, 2014			119,248		$	5.62
		-1	Includes 85,097 restricted stock units issued that will vest upon the fulfillment of certain clinical and financial conditions.

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity	'
Schedule of redemption prices per share	'
	Year from November 1, 2013 to October 31, 2014	$	10.06
	November 1, 2014 and thereafter	$	10
Schedule of conversion of convertible preferred stock	'
		Three
		Months Ended
		March 31,
		2013
	Preferred shares exchanged		792,460
	Shares of common stock issued:
	At stated conversion terms		48,174
	Incremental shares issued under the exchange transaction		1,465,479
	Total shares of common stock issued		1,513,653
Schedule of warrants outstanding	'
	Issued in Connection With	Expiration		Common		Weighted
		Date		Shares		Average
				Issuable		Exercise
						Price
	July 2009 Series II stock issuance	2014			98,893	$	7
	January 2010 stock issuance	2015			101,785	$	22.82
	January 2010 stock issuance	2015			100,714	$	19.95
	October 2010 stock issuance	2015			594,513	$	13.44
	July 2011 stock issuance	2016			544,117	$	9.52
	Total				1,440,022	$	12.63

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2014
Discontinued Operations	'
Schedule of assets and liabilities, and product revenue, cost of goods sold and selling, general and administrative costs of discontinued operations	'
		Three Months Ended						Period from
		March 31,						August 13,
								1996
								(inception) to
								March 31,
		2013			2014			2014
	Product revenue	$	—		$	—		$	3,604
	Cost of goods sold		—			—			(2,045	)
	Selling, general and administrative		—			—			(9,295	)
	Goodwill and intangible impairment		—			—			(5,187	)
	Interest income		26			13			136
	Interest expense		—			—			(110	)
	Gain on termination of license agreement		—			—			1,192
	Income (loss) from discontinued operations		26			13			(11,705	)
	Income tax on discontinued operations		(10	)		(5	)		(376	)
	Net income (loss) from discontinued operations	$	16		$	8		$	(12,081	)
		December 31,			March 31,
		2013			2014
	Current assets of discontinued operations:
	Short term portion of minimum royalty arrangement receivable, net	$	379		$	320
	Returns indemnification receivable		260			260
	Total current assets of discontinued operations		639			580
	Long-term assets of discontinued operations:
	Long-term portion of minimum royalty arrangement receivable, net		72			48
	Total assets of discontinued operations	$	711		$	628
	Current liabilities of discontinued operations:
	Returns provision	$	260		$	260
	Total current liabilities of discontinued operations	$	260		$	260

NATURE_OF_OPERATIONS_AND_BASIS1

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Nature of Operations	'
Grants awarded from United Kingdom' s Medical Research Council	$1.50
Grant awarded from UK Government's Biomedical Catalyst	1.9
Grant received	$3.70

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	1 Months Ended	3 Months Ended		212 Months Ended
	Mar. 17, 2014	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
		Segment		Country
		Country
Segments	'	'	'	'
Number of operating segments	'	1	'	'
Number of geographic areas for development operations	'	2	'	2
Income tax benefit	'	($569,000)	($258,000)	($22,034,000)
Research and development tax credits from HMRC	'	$600,000	'	'
Cash dividend declared per share (in dollars per share)	$0.15	'	'	'
Dividend rate (in percent)	6.00%	'	'	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net loss per common share	'	'
Total shares excluded from calculation	2,527,253	2,807,092
Stock options	'	'
Net loss per common share	'	'
Total shares excluded from calculation	947,602	463,023
Restricted Stock Units	'	'
Net loss per common share	'	'
Total shares excluded from calculation	119,248	124,474
Convertible preferred stock	'	'
Net loss per common share	'	'
Total shares excluded from calculation	20,381	25,573
Contingently issuable common stock and common stock warrants associated with Economic Rights	'	'
Net loss per common share	'	'
Total shares excluded from calculation	'	220,595
Common stock warrants	'	'
Net loss per common share	'	'
Total shares excluded from calculation	1,440,022	197,327

FAIR_VALUE_Details

FAIR VALUE (Details) (Recurring basis, USD $)	Mar. 31, 2014	Dec. 31, 2013
Level 1	'	'
ASSETS	'	'
Cash equivalents	$22,648,000	$26,476,000
Financial instrument associated with stock purchase agreement	'	'
Total assets	22,648,000	26,476,000
Other liabilities measured at fair value:	'	'
Scottish Enterprise agreement	'	'
Other liabilities measured at fair value	'	'
Total liabilities	'	'
Level 2	'	'
ASSETS	'	'
Cash equivalents	'	'
Financial instrument associated with stock purchase agreement	350,000	397,000
Total assets	350,000	397,000
Other liabilities measured at fair value:	'	'
Scottish Enterprise agreement	'	'
Other liabilities measured at fair value	'	'
Total liabilities	'	'
Level 3	'	'
ASSETS	'	'
Cash equivalents	'	'
Financial instrument associated with stock purchase agreement	'	'
Total assets	'	'
Other liabilities measured at fair value:	'	'
Scottish Enterprise agreement	20,000	20,000
Other liabilities measured at fair value	20,000	20,000
Total liabilities	20,000	20,000
Total	'	'
ASSETS	'	'
Cash equivalents	22,648,000	26,476,000
Financial instrument associated with stock purchase agreement	350,000	397,000
Total assets	22,998,000	26,873,000
Other liabilities measured at fair value:	'	'
Scottish Enterprise agreement	20,000	20,000
Other liabilities measured at fair value	20,000	20,000
Total liabilities	$20,000	$20,000

FAIR_VALUE_Details_2

FAIR VALUE (Details 2) (USD $)	3 Months Ended	212 Months Ended	0 Months Ended	3 Months Ended		0 Months Ended	1 Months Ended		3 Months Ended
	Mar. 31, 2013	Mar. 31, 2014	Nov. 14, 2013	Mar. 31, 2014	Dec. 31, 2013	Apr. 03, 2013	Mar. 22, 2012	Apr. 30, 2013	Mar. 31, 2013
			Purchase Agreement	Purchase Agreement	Purchase Agreement	Definitive Agreement	Economic Rights	Economic Rights	Economic Rights
			Aspire Capital Fund, LLC	Aspire Capital Fund, LLC	Aspire Capital Fund, LLC	Celgene Corporation		Definitive Agreement	Definitive Agreement
Fair value measurements	'	'	'	'	'	'	'	'	'
Number of shares issued under purchase agreement	'	'	511,509	'	'	'	'	'	'
Purchase price for shares issued under purchase agreement	'	'	$2,000,000	'	'	'	'	'	'
Shares committed to purchase	'	'	3,042,038	'	'	'	'	'	'
Period of common stock purchase agreement	'	'	'2 years	'	'	'	'	'	'
Fair value of financial instrument	'	'	500,000	400,000	400,000	'	'	'	'
Decrease in the fair value of the Purchase Agreement	'	'	'	47,000	'	'	'	'	'
Amount to be paid as percentage of future litigation settlement amount received	'	'	'	'	'	'	10.00%	'	'
One-time payment received for patent related uses	'	'	'	'	'	5,500,000	'	'	'
Payment made to economic right holder	'	'	'	'	'	'	'	600,000	'
Change in valuation of Economic Rights	$570,000	$547,000	'	'	'	'	'	'	$600,000

FAIR_VALUE_Details_3

FAIR VALUE (Details 3) (Scottish Enterprise Agreement)	1 Months Ended		3 Months Ended
	Jun. 22, 2009	Jun. 22, 2009	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2013	Jan. 06, 2010	Jan. 06, 2010	Dec. 31, 2009	Jul. 01, 2009	Jul. 01, 2009
	USD ($)	GBP (£)	USD ($)	GBP (£)	USD ($)	GBP (£)	USD ($)	GBP (£)	USD ($)	USD ($)	GBP (£)
	Tranche	Tranche
Scottish Enterprise Agreement	'	'	'	'	'	'	'	'	'	'	'
Maximum guaranteed amount potentially due to SE	'	£ 5,000,000	$6,700,000	'	$6,500,000	£ 4,000,000	'	'	$8,000,000	'	'
Modified payment for which parties agreed	1,700,000	1,000,000	'	'	'	'	'	'	'	'	'
Number of tranches in which modified payment will be paid	2	2	'	'	'	'	'	'	'	'	'
Amount paid	'	'	'	'	'	'	800,000	500,000	'	800,000	500,000
Potential amount to be paid if staffing levels reduced below the prescribed levels	'	'	6,400,000	3,900,000	6,300,000	3,800,000	'	'	'	'	'
Fair value of the liability	'	'	$20,000	'	$20,000	'	'	'	'	'	'
Expected volatility (as a percent)	'	'	30.00%	30.00%	'	'	'	'	'	'	'
Probability of falling below a minimum staffing level within prescribed time period (as a percent)	'	'	1.00%	1.00%	'	'	'	'	'	'	'

PREPAID_EXPENSES_AND_OTHER_CUR2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Prepaid Expenses And Other Current Assets [Abstract]	'	'
Research and development tax credit receivable	$2,329	$1,744
Prepayments	1,077	427
Grant receivable	247	357
Sales tax receivable	440	209
Deposits	142	132
Other current assets	483	519
Total prepaid expenses and other current assets	$4,718	$3,388

ACCRUED_AND_OTHER_CURRENT_LIAB2

ACCRUED AND OTHER CURRENT LIABILITIES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accrued and Other Current Liabilities	'	'
Accrued research and development	$3,218	$3,565
Accrued legal and professional fees	244	265
Other current liabilities	349	842
Total	$3,811	$4,672

STOCK_BASED_COMPENSATION_Detai

STOCK BASED COMPENSATION (Details)	3 Months Ended
	Mar. 31, 2014
Minimum	'
Stock-based compensation	'
Vesting period	'3 years
Maximum	'
Stock-based compensation	'
Vesting period	'4 years
Executive officers | Minimum	'
Stock-based compensation	'
Vesting period	'3 years
Executive officers | Maximum	'
Stock-based compensation	'
Vesting period	'5 years

STOCK_BASED_COMPENSATION_Detai1

STOCK BASED COMPENSATION (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Stock-based compensation	'	'
Stock-based compensation costs before income taxes	$187	$72
General and administrative	'	'
Stock-based compensation	'	'
Stock-based compensation costs before income taxes	129	57
Research and development	'	'
Stock-based compensation	'	'
Stock-based compensation costs before income taxes	$58	$15

STOCK_BASED_COMPENSATION_Detai2

STOCK BASED COMPENSATION (Details 2) (Stock options, USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Stock options	'	'
Number of Options Outstanding	'	'
Options outstanding at December 31, 2013 (in shares)	949,685	'
Granted (in shares)	'	'
Exercised (in shares)	'	'
Cancelled / forfeited (in shares)	-2,083	'
Options outstanding at March 31, 2014 (in shares)	947,602	949,685
Unvested at March 31, 2014	480,824	'
Vested and exercisable at March 31, 2014	466,778	'
Weighted Average Exercise Price Per Share	'	'
Options outstanding at December 31, 2013 (in dollars per share)	$15.02	'
Granted (in dollars per share)	'	'
Exercised (in dollars per share)	'	'
Cancelled / forfeited (in dollars per share)	$35.03	'
Options outstanding at March 31, 2014 (in dollars per share)	$14.97	$15.02
Unvested at March 31, 2014 (in dollars per share)	$4.42	'
Vested and exercisable at March 31, 2014 (in dollars per share)	$25.85	'
Weighted Average Remaining Contractual Term (Years)	'	'
Options outstanding	'7 years 1 month 21 days	'7 years 4 months 17 days
Unvested at the end of the period	'9 years 6 months 11 days	'
Vested and exercisable at the end of the period	'4 years 8 months 1 day	'
Aggregate Intrinsic Value	'	'
Options outstanding	$92	$152
Unvested at the end of the period	24	'
Vested and exercisable at the end of the period	$68	'

STOCK_BASED_COMPENSATION_Detai3

STOCK BASED COMPENSATION (Details 3)	23-May-12	Mar. 31, 2014
		Stock options
Stock-based compensation	'	'
Number of shares reserved for issuance	1,428,571	'
Number of shares reserved for issuance before amendment	742,857	'
Expiration period	'	'10 years
Vesting period	'	'4 years

STOCK_BASED_COMPENSATION_Detai4

STOCK BASED COMPENSATION (Details 4) (Restricted Stock Units, USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013
Restricted Stock Units	'		'
Nonvested activity	'		'
Non-vested at December 31, 2013 (in shares)	119,248	[1]	'
Granted (in shares)	'	[1]	85,097
Forfeited (in shares)	'	[1]	'
Non-vested at March 31, 2014 (in shares)	119,248	[1]	'
Weighted Average Grant Date Value Per Share	'		'
Non-vested at December 31, 2013 (in dollars per share)	$5.62		'
Granted (in dollars per share)	'		'
Forfeited (in dollars per share)	'		'
Non-vested at March 31, 2014 (in dollars per share)	$5.62		'
[1]	Includes 85,097 restricted stock units issued that will vest upon the fulfillment of certain clinical and financial conditions.

STOCK_BASED_COMPENSATION_Detai5

STOCK BASED COMPENSATION (Details 5)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013
Minimum	'		'
Stock based compensation, additional disclosures	'		'
Forfeiture rate (as a percent)	0.00%		'
Maximum	'		'
Stock based compensation, additional disclosures	'		'
Forfeiture rate (as a percent)	30.00%		'
Stock options	'		'
Stock based compensation, additional disclosures	'		'
Number of Federal Reserve securities whose weighted average is used for calculation of weighted average risk-free interest rate	2		'
Restricted Stock Units	'		'
Stock based compensation, additional disclosures	'		'
Granted (in shares)	'	[1]	85,097
[1]	Includes 85,097 restricted stock units issued that will vest upon the fulfillment of certain clinical and financial conditions.

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	Mar. 31, 2014
In Millions, unless otherwise specified
Commitments and Contingencies	'
Future milestone payments payable	$10

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details) (USD $)	Mar. 31, 2014
Year from November 1, 2013 to October 31, 2014	'
Stockholders' equity	'
Redemption price per share (in dollars per share)	$10.06
November 1, 2014 and thereafter	'
Stockholders' equity	'
Redemption price per share (in dollars per share)	$10

STOCKHOLDERS_EQUITY_Details_2

STOCKHOLDERS' EQUITY (Details 2) (USD $)	1 Months Ended	3 Months Ended	212 Months Ended		0 Months Ended	3 Months Ended	99 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 17, 2014	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Aug. 02, 2010	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013
					Preferred stock	Preferred stock	Preferred stock	Preferred stock	Common stock
					Director	Director	Quarter	Minimum
						Conversion_rate		Series
						Quarter
Stockholders' equity	'	'	'	'	'	'	'	'	'
Preferred stock, shares issued	'	'	335,273	335,273	'	335,273	335,273	'	'
Preferred stock, shares outstanding	'	'	335,273	335,273	'	335,273	335,273	'	'
Preferred stock, par value (in dollars per share)	'	'	$0.00	$0.00	'	$10	$10	'	'
Dividend rate (in percent)	6.00%	'	'	'	'	6.00%	'	'	'
Liquidation preference (in dollars per share)	'	'	'	'	'	$10	$10	'	'
Number of shares to be issued for each preferred stock upon conversion	'	'	'	'	'	0.06079	'	'	'
Conversion price (in dollars per share)	'	'	'	'	'	$164.50	'	'	'
Shares reserved for future issuance upon conversion	'	'	'	'	'	20,381	20,381	'	'
Number of series of Preferred Stock	'	'	'	'	'	'	'	1	'
Closing price of stock (in dollars per share)	'	'	'	'	'	'	'	$246.75	'
Percentage of the closing sales price of the entity's common stock that the conversion price must exceed in order for the preferred stock to be convertible	'	'	'	'	'	150.00%	'	'	'
Number of trading days within 30 trading days in which the closing price of the entity's common stock must exceed the conversion price for the preferred stock to be convertible	'	'	'	'	'	'	'	'20 days	'
Number of trading days during which the closing price of the entity's common stock must exceed the conversion price for at least 20 days in order for the preferred stock to be convertible	'	'	'	'	'	'30 days	'	'	'
Number of trading days prior to notice of automatic conversion	'	'	'	'	'	'5 days	'	'	'
Number of quarters in which no preferred stock dividends have been paid	'	'	'	'	'	6	6	'	'
Number of Board of Directors to be elected by Preferred Stock holders if entity fails to pay dividends on Preferred Stock	'	'	'	'	'	2	'	'	'
Number of Board of Directors elected by the Preferred Stock holders when the entity failed to pay dividends on Preferred Stock	'	'	'	'	2	'	'	'	'
Interest rate (as a percent)	'	'	'	'	'	6.00%	6.00%	'	'
Debt principal amount per share, basis for exchange (in dollars per share)	'	'	'	'	'	$10	'	'	'
Debt instrument, term	'	'	'	'	'	'25 years	'	'	'
Preferred shares exchanged (in shares)	'	'	'	'	'	'	1,711,540	'	792,460
Number of shares issued upon conversion	'	'	'	'	'	'	'	'	1,513,653
Deemed dividends recorded	'	$8,366	$12,542	'	'	'	'	'	'

STOCKHOLDERS_EQUITY_Details_3

STOCKHOLDERS' EQUITY (Details 3)	99 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
	Preferred stock	Common stock
Conversion of Convertible Preferred Stock	'	'
Preferred shares exchanged (in shares)	1,711,540	792,460
Common shares issued:	'	'
At stated convertible option (in shares)	'	48,174
Incremental shares issued under the exchange transaction (in shares)	'	1,465,479
Total common shares issued (in shares)	'	1,513,653

STOCKHOLDERS_EQUITY_Details_4

STOCKHOLDERS' EQUITY (Details 4) (USD $)

1 Months Ended

3 Months Ended

212 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

0 Months Ended

1 Months Ended

Apr. 30, 2013

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2013

Nov. 14, 2013

Mar. 31, 2014

Nov. 14, 2013

Dec. 14, 2012

Dec. 14, 2012

16-May-13

21-May-13

Mar. 22, 2012

Common stock

November 2013 stock issuance

November 2013 stock issuance

November 2013 stock issuance

December 2012 stock issuance

December 2012 stock issuance

May 2013 sale of common stock

May 2013 sale of common stock

March 2012 Sale of Common Stock and Economic Rights

Common stock

Common stock

Common stock

Common stock

Common stock

Aspire Capital Fund, LLC

Aspire Capital Fund, LLC

Maximum

Aspire Capital Fund, LLC

Maximum

Aspire Capital Fund, LLC

Aspire Capital Fund, LLC

Common Stock

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of shares issued under purchase agreement

'

'

'

'

'

511,509

450,000

'

158,982

'

'

'

'

Purchase price for shares issued under purchase agreement

'

'

'

'

'

$2,000,000

$1,700,000

'

$1,000,000

'

'

'

'

Shares committed to purchase

'

'

'

'

'

'

'

3,042,038

'

1,455,787

'

'

'

Period of common stock purchase agreement

'

'

'

'

'

'2 years

'

'

'2 years

'

'

'

'

Common stock purchase agreement, purchase commitment

'

'

'

'

'

'

'

18,000,000

'

19,000,000

'

'

'

Stock issued for non-cash consideration

'

'

'

'

'

166,105

'

'

74,548

'

'

'

'

Shares committed for sale under agreement

'

'

'

'

'

'

'

'

'

'

6,666,667

'

'

Common stock, par value (in dollars per share)

'

$0.00

$0.00

$0.00

'

'

'

'

'

'

$0.00

'

'

Offering price per unit (in dollars per unit)

'

'

'

'

'

'

'

'

'

'

$3

$3

$4.53

Shares sold (in shares)

'

'

'

'

31,643

'

'

'

'

'

'

6,833,334

669,726

Number of share sold that were subject to the underwriters' over-allotment option

'

'

'

'

'

'

'

'

'

'

'

166,667

'

Proceeds from sale of common stock, net of certain fees and expenses

'

'

'

'

'

'

'

'

'

'

'

19,000,000

'

Fair value of common stock issued

'

'

'

'

200,000

'

'

'

'

'

'

'

'

Change in valuation of financial instruments associated with stock purchase agreement

'

47,000

568,000

'

'

'

'

'

'

'

'

'

'

Net proceeds

'

'

'

'

'

'

'

'

'

'

'

'

2,900,000

Number of days used to calculate average closing price

'

'

'

'

'

'

'

'

'

'

'

'

'10 days

Amount to be paid as percentage of future litigation settlement amount received

'

'

'

'

'

'

'

'

'

'

'

'

10.00%

Lock-up period from the date of issuance

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

Economic Rights settled for payments

$600,000

'

'

'

'

'

'

'

'

'

'

'

'

STOCKHOLDERS_EQUITY_Details_5

STOCKHOLDERS' EQUITY (Details 5)	Mar. 31, 2014
Warrants outstanding	'
Common Shares Issuable	1,440,022
Weighted Average Exercise Price (in dollars per share)	12.63
Number of shares of common stock issued in connection with warrants	151,773
July 2009 Series II stock issuance	'
Warrants outstanding	'
Common Shares Issuable	98,893
Weighted Average Exercise Price (in dollars per share)	7
January 2010 stock issuance, one	'
Warrants outstanding	'
Common Shares Issuable	100,714
Weighted Average Exercise Price (in dollars per share)	19.95
January 2010 stock issuance, two	'
Warrants outstanding	'
Common Shares Issuable	101,785
Weighted Average Exercise Price (in dollars per share)	22.82
October 2010 stock issuance	'
Warrants outstanding	'
Common Shares Issuable	594,513
Weighted Average Exercise Price (in dollars per share)	13.44
July 2011 stock issuance	'
Warrants outstanding	'
Common Shares Issuable	544,117
Weighted Average Exercise Price (in dollars per share)	9.52

DISCONTINUED_OPERATIONS_Detail

DISCONTINUED OPERATIONS (Details) (USD $)	3 Months Ended		212 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Reclassification of operating results from continuing operations to loss from discontinued operations	'	'	'
Gain on termination of license agreement	'	'	$1,192
Income (loss) from discontinued operations	13	26	-11,705
Income tax on discontinued operations	-5	-10	-376
Net income (loss) from discontinued operations	8	16	-12,081
ALIGN products	'	'	'
Reclassification of operating results from continuing operations to loss from discontinued operations	'	'	'
Product revenue	'	'	3,604
Cost of goods sold	'	'	-2,045
Selling, general and administrative	'	'	-9,295
Goodwill and intangible impairment	'	'	-5,187
Interest income	13	26	136
Interest expense	'	'	-110
Gain on termination of license agreement	'	'	1,192
Income (loss) from discontinued operations	13	26	-11,705
Income tax on discontinued operations	-5	-10	-376
Net income (loss) from discontinued operations	$8	$16	$12,081

DISCONTINUED_OPERATIONS_Detail1

DISCONTINUED OPERATIONS (Details 2) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets of discontinued operations:	'	'
Total current assets of discontinued operations	$580	$639
Current liabilities of discontinued operations:	'	'
Total current liabilities of discontinued operations	260	260
ALIGN products	'	'
Current assets of discontinued operations:	'	'
Short-term portion of minimum royalty arrangement receivable, net	320	379
Returns indemnification receivable	260	260
Total current assets of discontinued operations	580	639
Long-term assets of discontinued operations:	'	'
Long-term portion of minimum royalty arrangement receivable, net	48	72
Total assets of discontinued operations	628	711
Current liabilities of discontinued operations:	'	'
Returns provision	260	260
Total current liabilities of discontinued operations	$260	$260

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Subsequent event, Underwriting Agreement, USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Apr. 03, 2014
Subsequent event | Underwriting Agreement	'
Subsequent Event [Line Items]	'
Number of common stock issued	2,857,143
Share price per share	$3.50
Proceed from public offering	$9.30