Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 28, 2014 | Jun. 28, 2013 | |
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'ALIMERA SCIENCES INC | ' | ' |
Entity Central Index Key | '0001267602 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Public Float | ' | ' | $50,490,774 |
Entity Common Stock, Shares Outstanding | ' | 37,910,991 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ' | ' |
Cash and cash equivalents | $12,628 | $49,564 |
Accounts receivable | 500 | 0 |
Prepaid expenses and other current assets | 3,474 | 2,029 |
Inventory, net | 1,786 | 719 |
Deferred financing costs | 250 | 95 |
Total current assets | 18,638 | 52,407 |
PROPERTY AND EQUIPMENT — at cost less accumulated depreciation | 982 | 114 |
TOTAL ASSETS | 19,620 | 52,521 |
CURRENT LIABILITIES: | ' | ' |
Accounts payable | 1,735 | 1,973 |
Accrued expenses | 934 | 1,179 |
Outsourced services payable | 603 | 2,616 |
Note payable | 1,667 | 2,273 |
Capital lease obligations | 10 | 6 |
Total current liabilities | 4,949 | 8,047 |
NON-CURRENT LIABILITIES: | ' | ' |
Derivative warrant liability | 16,381 | 4,418 |
Note payable, net of discount — less current portion | 3,194 | 703 |
Other non-current liabilities | 21 | 209 |
COMMITMENTS AND CONTINGENCIES | ' | ' |
STOCKHOLDERS’ (DEFICIT) EQUITY: | ' | ' |
Common stock, $.01 par value — 100,000,000 shares authorized, 31,610,991 shares issued and outstanding at December 31, 2013 and 31,541,286 shares issued and outstanding at December 31, 2012 | 316 | 315 |
Additional paid-in capital | 240,135 | 237,485 |
Accumulated deficit | -277,345 | -231,116 |
Accumulated other comprehensive loss | -488 | 0 |
TOTAL STOCKHOLDERS’ (DEFICIT) EQUITY | -4,925 | 39,144 |
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY | 19,620 | 52,521 |
Preferred Stock | ' | ' |
STOCKHOLDERS’ (DEFICIT) EQUITY: | ' | ' |
Preferred stock, $.01 par value — 10,000,000 shares authorized at December 31, 2013 and 2012: | ' | ' |
Series A convertible preferred stock | ' | ' |
STOCKHOLDERS’ (DEFICIT) EQUITY: | ' | ' |
Preferred stock, $.01 par value — 10,000,000 shares authorized at December 31, 2013 and 2012: | 32,045 | 32,045 |
Common Stock | ' | ' |
STOCKHOLDERS’ (DEFICIT) EQUITY: | ' | ' |
Common stock warrants | $412 | $415 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 31,610,991 | 31,541,286 |
Common stock, shares outstanding | 31,610,991 | 31,541,286 |
Series A convertible preferred stock | ' | ' |
Preferred stock, shares authorized | 1,300,000 | 1,300,000 |
Preferred stock, shares issued | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 1,000,000 | 1,000,000 |
Preferred stock, liquidation preference | $40,000,000 | $40,000,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
NET REVENUE | $1,872 | $0 |
COST OF GOODS SOLD | -1,863 | 0 |
GROSS MARGIN | 9 | 0 |
RESEARCH AND DEVELOPMENT EXPENSES | 8,429 | 7,935 |
GENERAL AND ADMINISTRATIVE EXPENSES | 9,613 | 6,575 |
SALES AND MARKETING EXPENSES | 16,371 | 7,529 |
OPERATING EXPENSES | 34,413 | 22,039 |
INTEREST EXPENSE AND OTHER | -533 | -790 |
UNREALIZED FOREIGN CURRENCY GAIN, NET | 825 | 0 |
LOSS ON EARLY EXTINGUISHMENT OF DEBT | -153 | 0 |
CHANGE IN FAIR VALUE OF DERIVATIVE WARRANT LIABILITY | -11,964 | 3,083 |
NET LOSS | -46,229 | -19,746 |
Accretion of beneficial conversion feature | -4,950 | 0 |
NET LOSS APPLICABLE TO COMMON STOCKHOLDERS | ($51,179) | ($19,746) |
NET LOSS PER SHARE APPLICABLE TO COMMON SHAREHOLDERS — Basic and diluted (in dollars per share) | ($1.62) | ($0.63) |
WEIGHTED AVERAGE SHARES OUTSTANDING — Basic and diluted (in shares) | 31,579,553 | 31,462,120 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net loss | ($46,229) | ($19,746) |
OTHER COMPREHENSIVE LOSS | ' | ' |
Foreign currency translation adjustments | -488 | 0 |
TOTAL OTHER COMPREHENSIVE LOSS | -488 | 0 |
COMPREHENSIVE LOSS | ($46,717) | ($19,746) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' (Deficit) Equity (USD $) | Total | Common Stock | Preferred Stock | Additional Paid-In Capital | Common Warrants | Accumulated Deficit | Accumulated Other Comprehensive Loss | Common Stock | Common Stock | Common Stock | Preferred Stock | Preferred Stock |
In Thousands, except Share data, unless otherwise specified | Additional Paid-In Capital | |||||||||||
BALANCE at Dec. 31, 2011 | $24,978 | $314 | $0 | $235,619 | $415 | ($211,370) | $0 | ' | ' | ' | ' | ' |
BALANCE (in shares) at Dec. 31, 2011 | ' | 31,427,355 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of stock | ' | ' | ' | ' | ' | ' | ' | 38 | 1 | 37 | 32,045 | 32,045 |
Issuance of stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 79,886 | ' | ' | 1,000,000 |
Accretion of beneficial conversion feature | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 52 | 0 | ' | 52 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options (in shares) | 34,045 | 34,045 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 1,777 | ' | ' | 1,777 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -19,746 | ' | ' | ' | ' | -19,746 | ' | ' | ' | ' | ' | ' |
BALANCE at Dec. 31, 2012 | 39,144 | 315 | 32,045 | 237,485 | 415 | -231,116 | 0 | ' | ' | ' | ' | ' |
BALANCE (in shares) at Dec. 31, 2012 | ' | 31,541,286 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of stock | ' | ' | ' | ' | ' | ' | ' | 53 | 0 | 53 | ' | ' |
Issuance of stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 26,123 | ' | ' | ' |
Modification of common stock warrants | 46 | ' | ' | ' | 46 | ' | ' | ' | ' | ' | ' | ' |
Forfeiture of common stock warrants | 0 | ' | ' | 49 | -49 | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of beneficial conversion feature | ' | ' | -4,950 | 4,950 | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of beneficial conversion feature | -4,950 | ' | 4,950 | -4,950 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 72 | 1 | ' | 71 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options (in shares) | 43,582 | 43,582 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 2,477 | ' | ' | 2,477 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -46,229 | ' | ' | ' | ' | -46,229 | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | -488 | ' | ' | ' | ' | ' | -488 | ' | ' | ' | ' | ' |
BALANCE at Dec. 31, 2013 | ($4,925) | $316 | $32,045 | $240,135 | $412 | ($277,345) | ($488) | ' | ' | ' | ' | ' |
BALANCE (in shares) at Dec. 31, 2013 | ' | 31,610,991 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net loss | ($46,229) | ($19,746) |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 138 | 106 |
Inventory reserve | 410 | 0 |
Unrealized foreign currency transaction gain | -825 | 0 |
Amortization of deferred financing costs and debt discount | 159 | 215 |
Loss on early extinguishment of debt | 153 | 0 |
Stock option expense, net of taxes paid | 2,477 | 1,777 |
Change in fair value of derivative warrant liability | 11,964 | -3,083 |
Changes in assets and liabilities: | ' | ' |
Accounts receivable | -483 | 0 |
Prepaid expenses and other current assets | -1,355 | -1,337 |
Inventory | -1,416 | -719 |
Accounts payable | -259 | 25 |
Accrued expenses and other current liabilities | -2,347 | 1,499 |
Other long-term liabilities | -208 | 81 |
Net cash used in operating activities | -37,821 | -21,182 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Proceeds from maturities of investments | 0 | 500 |
Purchases of property and equipment | -973 | -23 |
Net cash (used in) provided by investing activities | -973 | 477 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from exercise of stock options | 72 | 52 |
Proceeds from sale of common stock | 53 | 38 |
Proceeds from issuance of Series A Convertible Preferred Stock | 0 | 40,000 |
Payment of Series A Convertible Preferred Stock offering costs | 0 | -455 |
Proceeds from issuance of notes payable | 5,000 | 0 |
Payment of debt issuance costs | -291 | 0 |
Payment of principal on notes payable | -3,169 | -2,462 |
Payments on capital lease obligations | -11 | -12 |
Net cash provided by financing activities | 1,654 | 37,161 |
EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS | 204 | 0 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | -36,936 | 16,456 |
CASH AND CASH EQUIVALENTS — Beginning of year | 49,564 | 33,108 |
CASH AND CASH EQUIVALENTS — End of year | 12,628 | 49,564 |
SUPPLEMENTAL DISCLOSURES: | ' | ' |
Cash paid for interest | 607 | 549 |
Cash paid for employee taxes upon vesting of RSU's | 0 | 48 |
Supplemental schedule of noncash investing and financing activities: | ' | ' |
Property and equipment acquired under capital leases | $33 | $0 |
Nature_of_Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
NATURE OF OPERATIONS | ' |
NATURE OF OPERATIONS | |
Alimera Sciences, Inc., and its wholly-owned subsidiaries, (the Company) is a biopharmaceutical company that specializes in the research, development, and commercialization of ophthalmic pharmaceuticals. The Company was formed on June 4, 2003 under the laws of the State of Delaware. | |
The Company is presently focused on diseases affecting the back of the eye, or retina, because the Company’s management believes these diseases are not well treated with current therapies and represent a significant market opportunity. The Company’s only commercial product is ILUVIEN®, which has received marketing authorization in the United Kingdom, Austria, Portugal, France, Germany and Spain, and has been recommended for marketing authorization in Italy, for the treatment of vision impairment associated with chronic diabetic macular edema (DME) considered insufficiently responsive to available therapies. As part of the approval process in these countries, the Company has committed to conduct a five-year, post-authorization, open label registry study of ILUVIEN in 800 patients treated per the labeled indication. | |
The Company launched ILUVIEN in the United Kingdom and Germany in April and May of 2013, respectively, and currently plans to launch ILUVIEN in France in 2014. To date, the majority of the Company’s sales have been in Germany. The Company was able to launch in Germany without price restrictions, but continues to work with the statutory health insurance funds in Germany to streamline reimbursement for ILUVIEN. | |
In January 2013, the United Kingdom’s National Institute for Health and Care Excellence (NICE) published final guidance for England and Wales indicating that ILUVIEN does not satisfy NICE's definition of cost effectiveness for the treatment of vision impairment associated with chronic DME considered insufficiently responsive to available therapies given the cost of £5,500. The Company submitted a simple patient access scheme (PAS) for ILUVIEN to NICE for consideration under its rapid review facility. In October 2013, the NICE Appraisal Committee issued a positive Final Appraisal Determination recommending ILUVIEN funding for the treatment of pseudophakic eyes (eyes with an artificial lens) in chronic DME patients that are insufficiently responsive to available therapies and the final technology appraisal guidance was published in November 2013.The final draft guidance reverses the published guidance issued by NICE in January2013, and takes into consideration the PAS. NICE requires clinical commissioning groups, National Health Service (NHS) England and Wales, and local public health authorities to comply with the recommendations in the final guidance within three months of its date of publication. Further, in February 2014, the Scottish Medicines Consortium, after completing its assessment and review of a similar simple PAS, announced that is has accepted ILUVIEN for restricted use within the NHS Scotland. | |
In July 2013, the Transparency Commission (Commission de la Transparence or CT) of the French National Health Authority (Haute Autorite de Sante) issued a favorable opinion for the reimbursement and hospital listing of ILUVIEN by the French National Health Insurance for the treatment of chronic DME considered insufficiently responsive to available therapies. In the opinion, ILUVIEN was deemed as providing a "moderate medical benefit" as defined by the Service Medical Rendu. As a result, when the Company agrees on a price with the French authorities, patients will be reimbursed for 100% of the cost of ILUVIEN under the Affection de Longue Duree, a specific program for severe chronic diseases such as diabetes. When comparing the clinical benefit of ILUVIEN to existing therapies (Amelioration du Service Medical Rendu or ASMR), the CT rated the product at "level IV" which will be used in considering the price and any reimbursement conditions for ILUVIEN in France. | |
In September 2013, the Company submitted an application to the Medicines and Healthcare Products Regulatory Agency (MHRA) in the United Kingdom, as the Reference Member State, for ten additional European Union (EU) country approvals through the Mutual Recognition Procedure. | |
The Company submitted a New Drug Application (NDA) in June 2010 for ILUVIEN in the U.S. with the U.S. Food and Drug Administration (FDA). The Company resubmitted its NDA in May 2011 and April 2013 to address matters raised in the FDA's Complete Response Letters (CRLs) relating to the NDA. In October 2013, the Company received a third CRL from the FDA stating that the NDA could not be approved in its current form. In the third CRL, the FDA identified clinical and statistical deficiencies and indicated that the benefits of ILUVIEN did not outweigh its risks. Further, the FDA also indicated that results from a new clinical trial would need to be submitted, together with at least 12 months of follow-up data for all enrolled patients, to support certain indications previously discussed with the FDA. The FDA suggested that a meeting with the Dermatologic and Ophthalmic Drugs Advisory Committee may be of assistance in addressing the deficiencies identified above and providing advice whether a patient population can be identified in which the benefits of the drug product might outweigh the risks. In the third CRL, the FDA also referenced deficiencies in the methods and controls used for the drug product at the facility where ILUVIEN is manufactured. The Company does not believe that these deficiencies will affect its European commercial supply. The Company and its third-party manufacturer are in the process of resolving these deficiencies. | |
The Company was notified of a January 2014 meeting of the Advisory Committee, shortly after the issuance of the third CRL. In a subsequent communication with the FDA, the Company believes it clarified that the purpose of the Advisory Committee meeting was to consider the benefits and risks of ILUVIEN based on existing data available from its FAME Study. Further discussion with the FDA in preparation for the Advisory Committee resulted in labeling discussions for ILUVIEN, and the Company and the FDA agreed that the Advisory Committee was no longer necessary. The Company intends to submit a response to the third CRL in the first quarter of 2014 to include a new proposed label, address concerns the FDA raised regarding the facility at which ILUVIEN is manufactured, and provide a safety update on ILUVIEN, which will include data from ILUVIEN patients and from physician experience with the ILUVIEN applicator in the United Kingdom and Germany, where ILUVIEN is currently commercially available. The FDA has indicated that the Company will not be required to conduct any new clinical trials in connection with the FDA's review of this submission. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accounting Policies [Abstract] | ' | |||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||
The following accounting policies relate primarily to the continuing operations of the Company: | ||||||
Use of Estimates in Financial Statements — The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and, as such, include amounts based on informed estimates and judgments of management. Actual results could differ from those estimates. | ||||||
Principles of Consolidation — The consolidated financial statements include the accounts of Alimera Sciences, Inc. and all wholly-owned subsidiaries. All significant inter-company balances have been eliminated in consolidation. | ||||||
Cash and Cash Equivalents — Cash and cash equivalents include cash and highly liquid investments that are readily convertible into cash and have a maturity of 90 days or less when purchased. Generally, cash and cash equivalents held at financial institutions are in excess of federally insured limits. The Company limits its exposure to credit loss by placing its cash and cash equivalents in highly liquid investments with high quality financial institutions. Cash and cash equivalents were approximately $12,628,000 and $49,564,000 at December 31, 2013 and 2012, respectively, with approximately 100.0% of these balances held in U.S. based financial institutions. | ||||||
Revenue Recognition — The Company recognizes revenue from its product sales when title passes and the risks and reward of ownership have passed to the customer based on the terms of sale. Title passes generally upon shipment or upon receipt by the customer depending on the agreement with the customer. Precise information regarding the receipt of product by the customer is not always readily available. In these cases, the Company estimates the date of receipt based upon shipping policies by geographic location. In the Company's current commercial markets of Germany and the United Kingdom, its shipping policies require delivery within 24 hours of shipment in most instances. Taxes that are collected from customers and remitted to governmental authorities are not included in revenue. | ||||||
Accounts Receivable and Allowance for Doubtful Accounts — Accounts receivable are generated through sales primarily to pharmacies, hospitals and wholesalers which began in 2013. The company does note require collateral from its customers for accounts receivable. The carrying amount of accounts receivable is reduced by an allowance for doubtful accounts that reflects management's best estimate of the amounts that will not be collected. In addition to reviewing delinquent accounts receivable, management considers many factors in estimating its general allowance, including historical data, experience, customer types, credit worthiness, and economic trends. From time to time, management may adjust its assumptions for anticipated changes in any of those or other factors expected to affect collectability. Provisions for doubtful accounts are charged to operations at the time management determines these accounts may become uncollectable. The Company writes off accounts receivable when management determines they are uncollectable and credits payments subsequently received on such receivables to bad debt expense in the period received. There were no write-offs for the year ended December 31, 2013 and no allowance for doubtful accounts at December 31, 2013. | ||||||
Inventory — Inventories are stated at the lower of cost or market with cost determined under the first in, first out (FIFO) method. Included in inventory costs are component parts, work-in-progress and finished goods. The Company relies on third party manufacturers for the production of all inventory and does not capitalize any internal costs. The Company periodically reviews inventories for excess or obsolete inventory and writes down obsolete or otherwise unmarketable inventory to its estimated net realizable value. If the actual net realizable value is less than that estimated, or if there are any further determinations that inventory will not be marketable based on estimates of demand, additional inventory write-downs will be required. | ||||||
Samples — Samples consist of ILUVIEN applicators and applicator components to be used in the Company's sales and marketing efforts and are included in prepaid expenses and other current assets in the Company's consolidated balance sheets. Samples will be expensed upon distribution as a selling expense. Sample inventories included in prepaid expenses and other current assets at December 31, 2013 and 2012, were $14,000 and $65,000, respectively. | ||||||
Long-Lived Assets — Property and equipment are stated at cost. Additions and improvements are capitalized while repairs and maintenance are expensed. Depreciation is provided on the straight-line method over the useful life of the related assets beginning when the asset is placed in service. The estimated useful lives of the individual assets are as follows: furniture and fixtures and manufacturing equipment, five years; office equipment and leasehold improvements, 29 months to five years; and software, three years. | ||||||
Impairment — Property and equipment and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When indicators of impairment are present, the Company evaluates the carrying amount of such assets in relation to the operating performance and future estimated undiscounted net cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. The assessment of the recoverability of assets will be impacted if estimated future operating cash flows are not achieved. | ||||||
Income Taxes — In accordance with the Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) 740, Income Taxes, the Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of its assets and liabilities. The Company records a valuation allowance against its net deferred tax asset to reduce the net carrying value to an amount that is more likely than not to be realized. | ||||||
Income tax positions are considered for uncertainty in accordance with ASC 740-10. The Company believes that its income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material change to its financial position; therefore, no ASC 740-10 liabilities have been recorded. The Company will recognize accrued interest and penalties related to unrecognized tax benefits, if any, as interest expense and income tax expense, respectively, in the consolidated statements of operations. | ||||||
Significant management judgment is involved in determining the provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against net deferred tax assets. Due to uncertainties with respect to the realization of deferred tax assets as a result of the Company's history of operating losses, a valuation allowance has been established against the entire net deferred tax asset balance. The valuation allowance is based on management’s estimates of taxable income in the jurisdictions in which the Company operates and the period over which deferred tax assets will be recoverable. In the event that actual results differ from these estimates or the Company adjusts these estimates in future periods, a change in the valuation allowance may be needed, which could materially impact the Company’s financial position and results of operations. | ||||||
Research and Development Costs — Research and development costs are expensed as incurred. | ||||||
Stock-Based Compensation — The Company has stock option plans which provide for grants of stock options to employees and directors to purchase shares of the Company’s common stock at exercise prices generally equal to the fair values of such stock at the dates of grant. Compensation cost is recognized for all share-based awards based on the grant date fair value in accordance with the provisions of ASC 718, Compensation — Stock Compensation. The fair values for the options are estimated at the dates of grant using a Black-Scholes option-pricing model. | ||||||
Additionally, the Company sponsors an employee stock purchase plan under which employees may elect payroll withholdings to fund purchases of the Company’s stock at a discount. The Company estimates the fair value of the option to purchase shares of the Company’s common stock using the Black-Scholes valuation model and recognizes compensation expense in accordance with the provisions of ASC 718-50, Employee Share Purchase Plans. | ||||||
Derivative Financial Instruments — The Company generally does not use derivative instruments to hedge exposures to cash flow or market risks. However, certain warrants to purchase Series A convertible Preferred Stock or common stock that do not meet the requirements for classification as equity, in accordance with the Derivatives and Hedging Topic of the ASC, are classified as liabilities. In such instances, net-cash settlement is assumed for financial reporting purposes, even when the terms of the underlying contracts do not provide for a net-cash settlement. These warrants are considered derivative instruments because the agreements provide for settlement in Series A Convertible Preferred Shares or common shares at the option of the holder, an adjustment to the warrant exercise price for common shares at some point in the future, and contain anti-dilution provisions whereby the number of shares for which the warrants are exercisable and/or the exercise price of the warrants are subject to change in the event of certain issuances of stock at prices below the then-effective exercise price of the warrants. The primary underlying risk exposure pertaining to the warrants is the change in fair value of the underlying common stock. Such financial instruments are initially recorded at fair value with subsequent changes in fair value recorded as a component of change in fair value of derivative warrant liability in the consolidated statements of operations in each reporting period. If these instruments subsequently meet the requirements for equity classification, the Company reclassifies the fair value to equity. At December 31, 2013 and 2012, these warrants represented the only outstanding derivative instruments issued or held by the Company. | ||||||
Fair Value of Financial Instruments — The carrying amounts of the Company’s financial instruments, including cash and cash equivalents and current liabilities approximate their fair value because of their short maturities. The weighted average interest rate of the Company’s note payable to Silicon Valley Bank approximates the rate at which the Company could obtain alternative financing; therefore, the carrying amount of the note approximates the fair value. The Company uses the Black-Scholes option pricing model and assumptions that consider, among other variables, the fair value of the underlying stock, risk-free interest rate, volatility, expected life and dividend rates in estimating fair value for the warrants considered to be derivative instruments. | ||||||
Translation Policy - The U.S. dollar is the functional currency for Alimera Sciences, Inc. The Euro is the functional currency for the majority of the Company's subsidiaries operating outside of the U.S. | ||||||
For Alimera Sciences, Inc., foreign currency assets and liabilities are remeasured into U.S. dollars at end-of-period exchange rates, except for nonmonetary balance sheet accounts, which are remeasured at historical exchange rates. Revenue and expenses are remeasured at average exchange rates in effect during each period, except for those expenses related to the non-monetary balance sheet amounts, which are remeasured at historical exchange rates. Gains or losses from foreign currency remeasurement are included in income. | ||||||
The financial statements of the foreign subsidiaries whose functional currency is not the U.S, dollar, have been translated into U.S. dollars in accordance with ASC 830-30, Translation of Financial Statements. For the subsidiaries operating outside of the U.S. that are denominated in the Euro, assets and liabilities are translated at end-of-period rates while revenues and expenses are translated at average rates in effect during the period in which the activity took place. Equity is translated at historical rates and the resulting cumulative translation adjustments are included as a component of accumulated other comprehensive income. | ||||||
Earnings (Loss) Per Share (EPS) — Basic EPS is calculated in accordance with ASC 260, Earnings per Share by dividing net income or loss attributable to common stockholders by the weighted average common stock outstanding. Diluted EPS is calculated in accordance with ASC 260 by adjusting weighted average common shares outstanding for the dilutive effect of common stock options, warrants, convertible preferred stock and accrued but unpaid convertible preferred stock dividends. In periods where a net loss is recorded, no effect is given to potentially dilutive securities, since the effect would be anti-dilutive. Weighted average securities that would have diluted basic EPS, but were not included in the computation of diluted EPS because to do so would have been anti-dilutive, were as follows: | ||||||
Years Ended December 31, | ||||||
2013 | 2012 | |||||
Series A convertible preferred stock | 15,037,594 | — | ||||
Series A convertible preferred stock warrants | 518,803 | — | ||||
Common stock warrants | 5,761 | 3,289 | ||||
Stock options | 2,731,713 | 855,541 | ||||
Total | 18,293,871 | 858,830 | ||||
Reporting Segments — The Company's chief decision maker is the Chief Executive Officer (CEO). While the CEO is apprised of a variety of financial metrics and information, the business is principally managed on an aggregate basis. All of the Company's revenues are currently, and for the foreseeable future, generated in the European Union (EU). Additionally, the majority of the Company's expenditures and personnel either directly support its efforts in the EU, or cannot be specifically attributed to a geography outside of the EU. Therefore, the Company has only one reportable operating segment. If the Company commercializes ILUVIEN in additional jurisdictions in the future, management expects to report multiple operating segments based on geographic segmentation. | ||||||
Promotional and Advertising Costs — Promotional and advertising costs are expensed as incurred. | ||||||
Recent Accounting Pronouncements — In March 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2013-05: Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (ASU 2013-05), which applies to the release of the cumulative translation adjustment resulting from certain events occurring in foreign subsidiaries. ASU 2013-05 is effective for fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2012. The adoption of ASU 2013-05 did not have a material impact on the Company's consolidated financial statements. In February 2013, the FASB issued ASU No. 2013-02: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-02), which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. ASU 2013-02 is effective for fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2012. The adoption of ASU 2013-02 did not have a material impact on the Company's consolidated financial statements. |
Factors_Affecting_Operations
Factors Affecting Operations | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
FACTORS AFFECTING OPERATIONS | ' |
FACTORS AFFECTING OPERATIONS | |
To date the Company has incurred recurring losses, negative cash flow from operations, and has accumulated a deficit of $277,345,000 from the Company’s inception through December 31, 2013. As of December 31, 2013, the Company had approximately $12,628,000 in cash and cash equivalents. In January 2014, the Company completed a private placement of its common stock providing gross proceeds of $37,500,000. | |
The Company believes that it has sufficient funds available to fund its operations beyond the projected commercialization of ILUVIEN in Germany, the United Kingdom and France in 2014. The Company does not expect the generation of positive cash flow from operations until late 2014, at the earliest, if at all. If ILUVIEN is not approved in additional jurisdictions or does not generate sufficient revenue, the Company may adjust its commercial plans so that it can continue to operate with its existing cash resources or seek to raise additional financing. | |
The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company's recurring net losses, negative cash flow from operations and accumulated deficit raise substantial doubt about its ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Inventory
Inventory | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
INVENTORY | ' | |||||||
INVENTORY | ||||||||
Inventory consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Component parts (1) | $ | 266 | $ | 35 | ||||
Work-in-process (2) | 587 | 684 | ||||||
Finished goods | 1,343 | — | ||||||
Total inventory | 2,196 | 719 | ||||||
Inventory reserve | (410 | ) | — | |||||
Inventory — net | $ | 1,786 | $ | 719 | ||||
(1) Component parts inventory consisted of manufactured components of the ILUVIEN applicator. | ||||||||
(2) Work-in-process consisted of completed units of ILUVIEN that are undergoing, but have not completed, quality assurance testing as required by regulatory authorities. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
PROPERTY AND EQUIPMENT | ' | |||||||
PROPERTY AND EQUIPMENT | ||||||||
Property and equipment consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Furniture and fixtures | $ | 308 | $ | 304 | ||||
Office equipment | 425 | 396 | ||||||
Software | 439 | 423 | ||||||
Leasehold improvements | 82 | 45 | ||||||
Manufacturing equipment | 937 | 52 | ||||||
Total property and equipment | 2,191 | 1,220 | ||||||
Less accumulated depreciation and amortization | (1,209 | ) | (1,106 | ) | ||||
Property and equipment — net | $ | 982 | $ | 114 | ||||
Depreciation and amortization expense associated with property and equipment totaled $138,000 and $106,000 for the years ended December 31, 2013 and 2012, respectively. |
Accrued_Expenses
Accrued Expenses | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
ACCRUED EXPENSES | ' | |||||||
ACCRUED EXPENSES | ||||||||
Accrued expenses consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Accrued clinical investigator expenses | $ | 562 | $ | 897 | ||||
Value added tax payable | 184 | — | ||||||
Accrued other compensation expenses | 106 | 237 | ||||||
Other accrued expenses | 82 | 45 | ||||||
Total accrued expenses | $ | 934 | $ | 1,179 | ||||
License_Agreements
License Agreements | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure P Sivida Agreement Additional Information [Abstract] | ' |
LICENSE AGREEMENTS | ' |
LICENSE AGREEMENTS | |
The Company entered into an agreement with pSivida US, Inc. (pSivida) for the use of fluocinolone acetonide (FAc) in pSivida’s proprietary delivery device in February 2005, and a subsequent amendment in 2008. pSivida is a global drug delivery company committed to the biomedical sector and the development of drug delivery products. The agreement with pSivida provides the Company with a worldwide exclusive license to develop and sell ILUVIEN. | |
The Company’s license rights to pSivida’s proprietary delivery device could revert to pSivida if the Company were to (i) fail twice to cure its breach of an obligation to make certain payments to pSivida following receipt of written notice thereof; (ii) fail to cure other breaches of material terms of its agreement with pSivida within 30 days after notice of such breaches or such longer period (up to 90 days) as may be reasonably necessary if the breach cannot be cured within such 30-day period; (iii) file for protection under the bankruptcy laws, make an assignment for the benefit of creditors, appoint or suffer appointment of a receiver or trustee over its property, file a petition under any bankruptcy or insolvency act or have any such petition filed against it and such proceeding remains undismissed or unstayed for a period of more than 60 days; or (iv) notify pSivida in writing of its decision to abandon its license with respect to a certain product using pSivida’s proprietary delivery device. | |
Upon commercialization of ILUVIEN, the Company must share 20% of net profits and 33% of any lump sum milestone payments received from a sub-licensee of ILUVIEN, as defined by the agreement, with pSivida. In connection with this arrangement the Company is entitled to recover 20% of commercialization costs of ILUVIEN, as defined in the agreement, incurred prior to product profitability out of pSivida’s share of net profits. As of December 31, 2013 and 2012, the Company was owed $12,219,000 and $5,565,000, respectively, in commercialization costs. Due to the uncertainty of future net profits, the Company has fully reserved these amounts in the accompanying consolidated financial statements. The Company will owe pSivida an additional milestone payment of $25.0 million if ILUVIEN is approved by the FDA. | |
In November 2007, the Company entered into a license agreement with Dainippon Sumitomo Pharma Co., Ltd. (Dainippon) whereby Dainippon granted the Company a non-exclusive, worldwide, royalty free license to patent rights under specific patents and patent applications. The Company paid $200,000 to Dainippon shortly after the execution of this license agreement and will be required to make an additional payment in the amount of $200,000 to Dainippon within 30 days following the first regulatory approval of a licensed product in the U.S. by the FDA. |
Loan_Agreements
Loan Agreements | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
TERM AND REVOLVING LOAN AGREEMENT | ' |
LOAN AGREEMENTS | |
2010 Term Loan | |
The Company entered into a loan and security agreement with Silicon Valley Bank (SVB) and MidCap Financial LLP (MidCap and together with SVB, the Lenders) in October 2010, which was subsequently amended in May 2011 (as amended, the 2010 Term Loan Agreement). Pursuant to the 2010 Term Loan Agreement, in October 2010 the Company borrowed an aggregate of $6,250,000 from the Lenders (the 2010 Term Loan). The 2010 Term Loan Agreement also provided for the ability to drawdown an additional $11,000,000 subject to FDA approval of the NDA for ILUVIEN by December 31, 2011, which was not obtained. | |
In August 2011, the Company began repaying the outstanding principal under the 2010 Term Loan in 33 equal monthly installments plus interest at a rate of 11.5%. At maturity, the Company was also required to make an additional interest payment equal to 4% of the total amount borrowed. The Company paid to the Lenders an upfront fee of $62,500 upon execution of the 2010 Term Loan Agreement and an additional fee of $50,000 in connection with the May 2011 amendment. In accordance with ASC 470-50-40-17, Debt - Modifications and Extinguishments (ASC 470-50-40-17), the Company was amortizing the deferred financing costs on the 2010 Term Loan and the $50,000 modification fee over the remaining term of the 2010 Term Loan, as modified. | |
In October 2010, in connection with entering into the 2010 Term Loan, the Company issued SVB a warrant to purchase up to 15,909 shares of the Company's common stock and MidCap a warrant to purchase up to 23,864 shares of the Company's common stock. Each of the warrants were exercisable upon issuance, had a per-share exercise price of $11.00 and a term of 10 years. The Company estimated the fair value of warrants granted using the Black-Scholes option pricing model to be $389,000. The Company allocated a portion of the proceeds from the 2010 Term Loan to the warrants in accordance with ASC 470-20-25-2, Debt Instruments with Detachable Warrants. As a result, the Company recorded a discount of $366,000 which was amortized to interest expense using the effective interest method. The Lenders were also issued warrants to purchase up to an aggregate of 69,999 additional shares of the Company's common stock, which were exercisable only upon the drawdown of the additional $11,000,000 subject to FDA approval of the NDA for ILUVIEN by December 31, 2011, which was not obtained. | |
In May 2013, the Company repaid all amounts owed to the Lenders under the 2010 Term Loan, including the final interest payment equal to 4% of the total amount borrowed, and a 1.0% prepayment penalty on the then outstanding principal owed to MidCap. In connection with the repayment of the 2010 Term Loan, and in accordance with ASC 470-50-40-17, the Company recognized a loss on early extinguishment of debt of $153,000 associated with the remaining unamortized deferred financing costs, unamortized discount associated with the Lenders' warrants, the final interest payment, the prepayment penalty and a lender fee and warrants associated with a new term loan. | |
2010 Revolving Loan Agreement | |
In October 2010, the Company and SVB entered into a loan and security agreement, which was subsequently amended in May 2011 (as amended, the 2010 Revolving Loan Agreement), pursuant to which the Company obtained a secured revolving line of credit from SVB against eligible U.S. domestic accounts receivable with borrowing availability up to $20,000,000. Upon entering into the 2010 Revolving Loan Agreement, the Company paid to SVB an upfront fee of $100,000. As of December 31, 2012, no amounts under the 2010 Revolving Loan Agreement were outstanding or available to the Company. In May 2013, the Company and SVB terminated the 2010 Revolving Loan Agreement. | |
2013 Loan Agreement | |
In May 2013, Alimera Sciences Limited (Limited), a subsidiary of the Company, entered into a loan and security agreement (2013 Loan Agreement) with SVB to provide Limited with additional working capital for general corporate purposes. Under the 2013 Loan Agreement, SVB has made a term loan (2013 Term Loan) in the principal amount of $5,000,000 to Limited and has agreed to provide up to an additional $15,000,000 to Limited under a working capital line of credit (2013 Line of Credit). No advances were made at closing under the 2013 Line of Credit and no amounts were outstanding as of December 31, 2013. At December 31, 2013, the Company's ability to borrow under the 2013 Line of Credit was limited based on the Company's accounts receivable at the date as described below. | |
The 2013 Term Loan provides for interest only payments for six months followed by 36 monthly payments of interest, plus principal. The Company made its first amortization payment on the 2013 Term Loan in December 2013. Interest on outstanding borrowings under the 2013 Term Loan is payable at the rate of 7.50%. Borrowings under the 2013 Line of Credit will be advanced at 80% of eligible accounts receivable as defined in the 2013 Loan Agreement. Interest is payable on the balance of eligible accounts financed at the rate of 2.75% above SVB's most recently announced “prime rate.” Limited is also required to pay SVB on a monthly basis an unused line fee equal to 0.25% per annum of the average unused portion of the 2013 Line of Credit during the preceding month. The maturity dates are June 30, 2015 with respect to the 2013 Line of Credit and October 31, 2016 with respect to the 2013 Term Loan. | |
In connection with entering into the 2013 Loan Agreement, Limited paid SVB a facility fee of $25,000. Additionally, the Company re-priced warrants to purchase an aggregate of up to 31,818 shares of the Company’s common stock previously issued to SVB in connection with the 2010 Term Loan; 15,909 of which were previously exercisable only upon the drawdown of the additional $11,000,000 of the 2010 Term Loan subject to FDA approval of the NDA for ILUVIEN by December 31, 2011. Upon re-pricing, each of the warrants was exercisable immediately at a per-share exercise price of $2.86 and had a remaining term of 7.4 year. The Company estimated the incremental fair value received by SVB using the Black-Scholes option pricing model to be $46,000. In accordance with ASC 470-50-40-17, the Company expensed the facility fee and incremental value of the warrants associated with the 2013 Term Loan as part of the loss on early extinguishment of the 2010 Term Loan. Warrants to purchase up to an aggregate of 54,090 additional shares of the Company's common stock, which were exercisable only upon the drawdown of the additional $11,000,000 of the 2010 Term Loan subject to FDA approval of the NDA for ILUVIEN by December 31, 2011, which was not obtained, remain outstanding. | |
In connection with the 2013 Line of Credit, Limited paid a commitment fee of $100,000. In accordance with ASC 470-50-40-17, the Company capitalized the commitment fee and $49,000 of deferred financing costs remaining on the 2010 Revolving Loan Agreement as deferred financing costs, which are being amortized over the remaining term of the 2013 Line of Credit. | |
If Limited repays the 2013 Term Loan prior to October 31, 2016, it will pay to SVB a prepayment penalty of 3% of the total principal amount if the prepayment occurs within one year after the funding date and 2% of the total principal amount if the prepayment occurs between one and two years after the funding date, provided in each case that such prepayment penalty will be reduced by 50% in the event of an acquisition of Limited (either alone, or in connection with the acquisition of the Company or any of its subsidiaries). In addition, if Limited terminates the 2013 Line of Credit prior to June 30, 2015, it will pay to SVB a termination fee of $112,500, which will be reduced by 50% in the event of an acquisition described above. | |
Limited also agreed to customary affirmative and negative covenants and events of default in connection with these arrangements. Further, the Company, on a consolidated basis, must maintain a minimum “adjusted quick ratio,” tested as of the last day of each month, of at least 1.5:1.0. The adjusted quick ratio is the ratio of (x) the Company's consolidated, unrestricted and unencumbered cash plus net billed trade accounts receivable to (y) the Company's current liabilities (including all obligations owed to SVB) minus the current portion of deferred revenue. The occurrence of an event of default could result in the acceleration of Limited's obligations under the 2013 Loan Agreement and an increase to the applicable interest rate, and would permit SVB to exercise remedies with respect to the collateral under the 2013 Loan Agreement, including foreclosure on the Company's intellectual property. As of December 31, 2013, the Company, on a consolidated basis with its subsidiaries, was in compliance with all of the covenants of the 2013 Term Loan and 2013 Line of Credit. | |
Limited's obligations to SVB are secured by a first priority security interest in substantially all of Limited's assets. The Company and certain of its subsidiaries are guarantors of the obligations of Limited to SVB under the 2013 Loan Agreement pursuant to separate guaranty agreements. Pursuant to the guaranties, the Company and these subsidiaries granted SVB a first priority security interest in substantially all of their respective assets. | |
The Company is required to maintain its primary operating and other deposit accounts and securities accounts with SVB, which accounts must represent at least 50% of the dollar value of its accounts at all financial institutions. Under the 2013 Loan Agreement, the Company has agreed not to pay any dividends so long as it has any outstanding obligations thereunder. | |
The weighted average interest rates of the Company's notes payable approximate the rate at which the Company could obtain alternative financing; therefore, the carrying amount of the notes approximated their fair value at December 31, 2013 and 2012. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
COMMITMENTS AND CONTINGENCIES | ' | |||||||
COMMITMENTS AND CONTINGENCIES | ||||||||
Term Note Payable — In May 2013, the Company received proceeds of $5,000,000 from the issuance of a Note Payable to a lender (Note 8). As of December 31, 2013 a schedule of future minimum principal payments under the Note Payable is as follows (in thousands): | ||||||||
Years Ending December 31 | ||||||||
2014 | $ | 1,667 | ||||||
2015 | 1,667 | |||||||
2016 | 1,527 | |||||||
Total | $ | 4,861 | ||||||
As of December 31, 2013, the Company had no accrued and unpaid interest payable on the Note Payable. As of December 31, 2012, the Company had $209,000 accrued and unpaid interest payable on the Notes Payable. | ||||||||
Operating Leases — The Company leases office space and equipment under noncancelable agreements accounted for as operating leases. The leases generally require that the Company pay taxes, maintenance, and insurance. Management expects that in the normal course of business, leases that expire will be renewed or replaced by other leases. In November 2012, the Company signed an extension of its lease for office space through January 31, 2015. In March 2013, the Company signed a lease for office space in the United Kingdom for its wholly-owned subsidiary, Alimera Sciences Limited (Note 1), from May 1, 2013 to December 31, 2014. In January 2014, the Company signed a lease for office space in the Germany for Alimera Sciences Limited , from April 1, 2014 to March 31, 2015. At December 31, 2013, a schedule by year of future minimum payments under operating leases is as follows: | ||||||||
December 31, | ||||||||
2014 | 2015 | |||||||
(In thousands) | ||||||||
Alimera Sciences Inc. | $ | 272 | $ | 23 | ||||
Alimera Sciences Limited | 242 | 13 | ||||||
Total | $ | 514 | $ | 36 | ||||
Rent expense under all operating leases totaled approximately $576,000 and $270,000 for the years ended December 31, 2013 and 2012, respectively. | ||||||||
Capital Leases — The Company leases equipment under capital leases. The property and equipment is capitalized at the lesser of fair market value or the present value of the minimum lease payments at the inception of the leases using the Company’s incremental borrowing rate. | ||||||||
At December 31, 2013, a schedule by year of future minimum payments under capital leases, together with the present value of minimum lease payments, is as follows (in thousands): | ||||||||
Years Ending December 31 | ||||||||
2014 | $ | 12 | ||||||
2015 | 12 | |||||||
2016 | 9 | |||||||
Total | 33 | |||||||
Less amount representing interest | (4 | ) | ||||||
Present value of minimum lease payments | 29 | |||||||
Less current portion | (10 | ) | ||||||
Noncurrent portion | $ | 19 | ||||||
Property and equipment under capital leases, which are included in property and equipment (Note 5), consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Office equipment | $ | 33 | $ | 36 | ||||
Less accumulated amortization | (5 | ) | (30 | ) | ||||
Total | $ | 28 | $ | 6 | ||||
Depreciation expense associated with office equipment under capital leases was $11,000 for each of the years ended December 31, 2013 and 2012. | ||||||||
Significant Agreements — In February 2010, the Company entered into an agreement with a third party manufacturer for the manufacture of the ILUVIEN implant, the assembly of the ILUVIEN applicator and packaging of the completed ILUVIEN commercial product. The Company is responsible for supplying the ILUVIEN applicator and the active pharmaceutical ingredient. In accordance with the terms of the agreement, the Company must order at least 80% of the ILUVIEN units required in the U.S., Canada and the EU from the third party manufacturer for an initial term of six years. The agreement has an initial six year term and will automatically renew for successive one year periods unless either party delivers written notice of non-renewal to the other at least 12 months prior to the end of the then current term. | ||||||||
In March 2011, the Company entered into an agreement with a contract research organization (CRO) for clinical and data management services to be performed in connection with a physician utilization study which is being conducted to assess the safety and utility of the commercial version of the ILUVIEN applicator. In accordance with the terms of the agreement, the Company will incur approximately $2,100,000 in costs with the CRO through 2013. For the years ended December 31, 2013 and 2012, the Company incurred $690,000 and $798,000, respectively, of expense associated with this agreement. At December 31, 2013 and 2012, $30,000 and $160,000, respectively, is included in outsourced services payable. | ||||||||
In February 2012, the Company engaged a consultant in connection with the Company's efforts to obtain the approval of ILUVIEN from the FDA. For the years ended December 31, 2013 and 2012, the Company recorded approximately $1,700,000 and $2,300,000, respectively, in costs pertaining to consulting fees related to the Company's agreement with this consultant. The Company expects to record an additional $300,000 in charges in connection with this agreement through 2014. In addition, the Company has agreed to pay the consultant $2,000,000, if, and only if, the FDA approves the Company's NDA for ILUVIEN. | ||||||||
In November 2012, the Company entered into an agreement with Quintiles Commercial Europe Limited. Under the agreement, Quintiles Commercial Europe Limited and its affiliates (collectively, Quintiles Commercial) will provide certain services to the Company in connection with the commercialization of ILUVIEN in certain countries in Europe under subsequent project orders. Such services may include marketing, brand management, sales promotion and detailing, market access, pricing and reimbursement support, regulatory, medical science liaison and communications and/or other advisory services. As of December 31, 2013, the Company had entered into eight project orders with Quintiles Commercial for the provision of services in Germany, the United Kingdom and France. Under the existing project orders, the Company expects to record approximately $31,100,000 in costs with Quintiles Commercial through 2015. For the year ended December 31, 2013, the Company incurred $7,500,000 of expense associated with this agreement. At December 31, 2013, $520,000 is included in outsourced services payable and $2,500,000 is included in prepaid expenses and other current assets. Under these project orders Quintiles Commercial, as of December 31, 2013, employed 24 persons fully dedicated to the Company. Quintiles Commercial also employed six persons partially dedicated to Alimera in Germany, the United Kingdom and France as of December 31, 2013. | ||||||||
Employment Agreements — The Company is party to employment agreements with six executives. The agreements generally provide for annual salaries, bonuses, and benefits and for the “at-will” employment of such executives. Effective January 1, 2014 and 2013, the Company was party to six agreements with salaries ranging from $261,000 to $445,000. If any of the agreements are terminated by the Company without cause, or by the employee for good reason, as defined in the agreements, the Company will be liable for one year of salary and benefits. Certain other employees have general employment contracts which include stipulations regarding confidentiality, Company property, and miscellaneous items. |
Preferred_Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
PREFERRED STOCK | ' |
PREFERRED STOCK | |
On October 2, 2012, the Company closed its preferred stock financing in which it sold units consisting of 1,000,000 shares of Series A Convertible Preferred Stock and warrants to purchase 300,000 shares of Series A Convertible Preferred Stock for gross proceeds of $40,000,000, prior to the payment of approximately $560,000 of related issuance costs. The powers, preferences and rights of the Series A Convertible Preferred Stock are set forth in the certificate of designation filed by the Company with the Secretary of State of the State of Delaware on October 1, 2012. Each share of Series A Convertible Preferred Stock, including any shares of Series A Convertible Preferred Stock issued upon exercise of the warrants, is convertible into shares of the Company’s common stock at any time at the option of the holder at the rate equal to $40.00 divided by the then current conversion price (Conversion Price). The initial Conversion Price of $2.91 of the Series A Convertible Preferred Stock was subject to adjustment to $3.16 or $2.66 based on the occurrence or non-occurrence of certain events relating to guidance from NICE regarding ILUVIEN, in addition to certain customary price based anti-dilution adjustments. A voluntary conversion by the holder prior to the determination of this adjustment is subject to a Conversion Price of $3.16 per share. Each share of Series A Convertible Preferred Stock shall automatically be converted into shares of common stock at the then-effective Conversion Price upon the occurrence of the later to occur of both (i) the Company receives and publicly announces the approval by the FDA of the Company’s NDA for ILUVIEN and (ii) the date on which the Company consummates an equity financing transaction pursuant to which the Company sells to one or more third party investors either (a) shares of common stock or (b) other equity securities that are convertible into shares of common stock and that have rights, preference or privileges, senior to or on a parity with, the Series A Convertible Preferred Stock, in each case having an as-converted per share of common stock price of not less than $10.00 and that results in total gross proceeds to the Company of at least $30,000,000. The rights and preferences of Series A Convertible Preferred Stock also place limitations on the Company's ability to declare or pay any dividend or distribution on any shares of capital stock. | |
On June 30, 2013, the Conversion Price was automatically adjusted to $2.66. As a result of the adjustment to the Conversion Price, the value of the common stock underlying the Series A Convertible Preferred Stock at issuance exceeded the amount of the net proceeds allocated to the Series A Convertible Preferred Stock at issuance. Therefore, the Company recorded the contingent beneficial conversion feature of $4,950,000 as an increase in additional paid in capital. Because the Series A Convertible Preferred Stock was immediately convertible into common stock at the option of the holder on June 30, 2013, the Company immediately accreted the full value of the beneficial conversion feature to the carrying value of the Series A Convertible Preferred Stock on that date. | |
Each unit sold in the preferred stock financing included a warrant to purchase 0.30 shares of Series A Convertible Preferred Stock at an exercise price equal to $44.00 per share. At the election of the holder of a warrant, the warrant may be exercised for the number of shares of common stock then issuable upon conversion of the Series A Convertible Preferred Stock that would otherwise be issued upon such exercise at the then-effective Conversion Price. | |
These warrants are considered derivative instruments because the agreements provide for settlement in Series A Convertible Preferred Stock shares or common stock shares at the option of the holder, an adjustment to the warrant exercise price for common shares at some point in the future, and contain anti-dilution provisions whereby the number of shares for which the warrants are exercisable and/or the exercise price of the warrants are subject to change in the event of certain issuances of stock at prices below the then-effective exercise price of the warrants. Therefore the warrants were recorded as a liability at issuance. At December 31, 2013 and 2012 the fair market value of the warrants was estimated to be $16,381,000 and $4,418,000, respectively. The Company recorded a loss of $11,964,000 as a result of the change in fair value of the warrants during the year ended December 31, 2013. The Company recorded a gain of $3,083,000 as a result of the change in fair value of the warrants in the fourth quarter of 2012. | |
In the second quarter of 2013, the Company concluded that it was appropriate to classify the derivative warrant liability as a non-current liability because the warrants do not provide for cash settlement, and will be settled in shares of either Series A Convertible Preferred Stock or common stock at the option of the holder. The prior period amount has been reclassified for consistency with the current period presentation. This reclassification had no effect on the reported results of operations. |
Stock_Incentive_Plans
Stock Incentive Plans | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
STOCK INCENTIVE PLANS | ' | |||||||||||||||
STOCK INCENTIVE PLANS | ||||||||||||||||
The Company has stock option and stock incentive plans which provide for grants of shares to employees and grants of options to employees and directors to purchase shares of the Company’s common stock at exercise prices generally equal to the fair values of such stock at the dates of grant. Options granted to employees typically become exercisable over a four-year vesting period and have a ten-year contractual term. Initial options granted to directors typically vest over a four-year period and have a ten-year contractual term. Annual option grants to directors typically vest immediately and have a ten-year contractual term. | ||||||||||||||||
As of December 31, 2013, the Company was authorized to grant options to purchase up to 80,310 shares under the 2010 Equity Incentive Plan. Upon the exercise of stock options, the Company may issue the required shares out of authorized but unissued common stock or out of treasury stock at management’s discretion. | ||||||||||||||||
A summary of stock option transactions under the plans are as follows: | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Options | Weighted | Options | Weighted | |||||||||||||
Average | Average | |||||||||||||||
Exercise | Exercise | |||||||||||||||
Price | Price | |||||||||||||||
Options outstanding at beginning of period | 5,493,079 | $ | 2.67 | 2,607,446 | $ | 3.88 | ||||||||||
Grants | 2,630,000 | 2.71 | 3,027,500 | 1.73 | ||||||||||||
Forfeitures | (513,059 | ) | 1.96 | (107,822 | ) | 5.57 | ||||||||||
Exercises | (43,582 | ) | 1.64 | (34,045 | ) | 1.53 | ||||||||||
Options outstanding at year end | 7,566,438 | 2.74 | 5,493,079 | 2.67 | ||||||||||||
Options exercisable at year end | 3,304,981 | 3.09 | 2,471,295 | 3.06 | ||||||||||||
Weighted average per share fair value of options granted during the year | $ | 2.14 | $ | 1.34 | ||||||||||||
The following table provides additional information related to outstanding stock options, fully vested stock options, and stock options expected to vest as of December 31, 2013: | ||||||||||||||||
Shares | Weighted | Weighted | Aggregate | |||||||||||||
Average | Average | Intrinsic | ||||||||||||||
Exercise | Contractual | Value | ||||||||||||||
Price | Term | |||||||||||||||
(In thousands) | ||||||||||||||||
Outstanding | 7,566,438 | $ | 2.74 | 7.63 years | $ | 17,759 | ||||||||||
Exercisable | 3,304,981 | 3.09 | 5.45 years | 7,589 | ||||||||||||
Expected to vest | 3,469,118 | 2.48 | 9.25 years | 8,314 | ||||||||||||
The Company estimated the fair value of options granted using the Black-Scholes option-pricing model with the following weighted-average assumptions used for option grants: | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Risk-free interest rate | 1.73 | % | 1.01 | % | ||||||||||||
Volatility factor | 100.76 | % | 98.59 | % | ||||||||||||
Grant date fair value of common stock | $ | 2.14 | $ | 1.34 | ||||||||||||
Weighted-average expected life | 5.92 years | 5.98 years | ||||||||||||||
Assumed forfeiture rate | 10 | % | 10 | % | ||||||||||||
Employee stock-based compensation expense related to stock options recognized under ASC 718 was as follows: | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Marketing | $ | 366 | $ | 268 | ||||||||||||
Research and development | 504 | 445 | ||||||||||||||
General and administrative | 1,586 | 934 | ||||||||||||||
Total employee stock-based compensation expense | $ | 2,456 | $ | 1,647 | ||||||||||||
As of December 31, 2013, there was approximately $6,958,000 of total unrecognized compensation cost related to outstanding stock option awards that will be recognized over a weighted average period of 3.1 years. The total fair value of shares vested during the year ended December 31, 2013 was approximately $2,416,000. | ||||||||||||||||
The total estimated fair value of options granted during the years ended December 31, 2013 and 2012 was $5,618,000 and $4,065,000, respectively. The total estimated intrinsic value of options exercised during the years ended December 31, 2013 and 2012 was $79,000 and $22,000, respectively. | ||||||||||||||||
Per the terms of the Company’s 2004 and 2005 Option Plans (Plans), the Company’s October 2012 Series A Convertible Preferred Stock financing (Note 10) constituted a change of control for the purposes of Plan and resulted in an acceleration of the vesting of 79,380 unvested options. The Company recognized $196,000 of compensation expense during the year ended December 31, 2012 in connection with this accelerated vesting. | ||||||||||||||||
The Company’s 2010 Plan provides for annual increases in the number of shares available for issuance thereunder on the first day of each fiscal year equal to the least of: (1) 2,000,000 shares of our common stock; (2) 4% of the shares of common stock outstanding at that time; and (3) such other amount as our board of directors may determine. On January 1, 2014, an additional 1,264,440 shares became available for future issuance under the 2010 Plan. These additional shares from the annual increase under the 2010 Plan are not included in the foregoing discussion. | ||||||||||||||||
The following table summarizes outstanding and exercisable options at December 31, 2013: | ||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||
Exercise Prices | Number | Weighted | Number | Weighted | ||||||||||||
Outstanding | Average | Exercisable | Average | |||||||||||||
Remaining | Remaining | |||||||||||||||
Contractual | Contractual | |||||||||||||||
Life | Life | |||||||||||||||
$1.33 | 545,052 | 2.42 | 545,052 | 2.42 | ||||||||||||
1.39 | 378,580 | 3.79 | 378,580 | 3.79 | ||||||||||||
1.65 | 700,000 | 8.11 | 320,834 | 8.11 | ||||||||||||
1.66 | 1,538,500 | 8.97 | 384,625 | 8.97 | ||||||||||||
1.7 | 95,000 | 8.09 | 43,542 | 8.09 | ||||||||||||
1.85 | 292,500 | 9.09 | 87,500 | 9.09 | ||||||||||||
2.04 | 217,312 | 0.76 | 217,312 | 0.76 | ||||||||||||
2.24 | 4,504 | 4.16 | 4,504 | 4.16 | ||||||||||||
2.32 | 130,000 | 8.85 | 35,832 | 8.85 | ||||||||||||
2.36 | 35,000 | 9.92 | — | 0 | ||||||||||||
2.41 | 435,158 | 4.22 | 435,158 | 4.22 | ||||||||||||
2.47 | 1,850,000 | 9.95 | — | 0 | ||||||||||||
2.49 | 20,000 | 8.75 | 5,000 | 8.75 | ||||||||||||
2.77 | 52,500 | 8.45 | 52,500 | 8.45 | ||||||||||||
2.91 | 100,000 | 9.22 | — | 0 | ||||||||||||
2.99 | 2,500 | 9.35 | — | 0 | ||||||||||||
3.04 | 5,000 | 9.33 | — | 0 | ||||||||||||
3.75 | 12,500 | 9.69 | — | 0 | ||||||||||||
3.83 | 22,500 | 9.72 | — | 0 | ||||||||||||
3.88 | 33,823 | 4.09 | 33,823 | 4.09 | ||||||||||||
4.01 | 247,065 | 5.59 | 247,065 | 5.59 | ||||||||||||
4.15 | 145,000 | 9.96 | — | 0 | ||||||||||||
5.03 | 1,176 | 4.65 | 1,176 | 4.65 | ||||||||||||
5.39 | 160,000 | 9.46 | 80,000 | 9.46 | ||||||||||||
5.44 | 2,059 | 4.77 | 2,059 | 4.77 | ||||||||||||
6.74 | 79,500 | 6.61 | 66,763 | 6.61 | ||||||||||||
7.53 | 37,500 | 7.44 | 37,500 | 7.44 | ||||||||||||
7.97 | 20,000 | 7.3 | 12,500 | 7.3 | ||||||||||||
8.47 | 43,059 | 7.08 | 30,455 | 6.88 | ||||||||||||
11 | 50,000 | 6.32 | 43,748 | 6.32 | ||||||||||||
11.15 | 302,650 | 6.84 | 233,287 | 6.84 | ||||||||||||
11.91 | 8,000 | 6.92 | 6,166 | 6.92 | ||||||||||||
7,566,438 | 3,304,981 | |||||||||||||||
Restricted Stock Units | ||||||||||||||||
In February 2012, the Company awarded 85,447 restricted stock units (RSUs), to executive officers and employees at a grant date fair value of $1.70 per RSU. A RSU is a stock award that entitles the holder to receive shares of the Company’s common stock as the award vests. The fair value of the RSUs was determined on the date of grant based on the closing price of the Company’s common stock on the date of grant, which equals the RSU’s intrinsic value. The RSUs were to vest upon the receipt of marketing authorization of ILUVIEN in four of the seven EU countries in which ILUVIEN is recommended for marketing authorization (Note 1). During 2012, the United Kingdom, Austria, Portugal and France granted marketing authorization to ILUVIEN and, as a result, the RSUs became fully vested and the Company recognized $145,000 of compensation expense during the year ended December 31, 2012 in connection with the RSUs. |
Common_Stock_Warrants
Common Stock Warrants | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
COMMON STOCK WARRANTS | ' |
COMMON STOCK WARRANTS | |
The Company has issued warrants to purchase common stock to various members of the board of directors, third-parties for services, and lenders. Total warrants to purchase common stock issued and exercisable were 109,772 and 82,568 at December 31, 2013 and 2012, respectively, at exercise prices ranging from $2.86 to $11.00 per share. The warrants are exercisable for a period of 10 years from the issuance date. | |
Warrants to purchase 39,773 of the Company’s common stock were granted to the Lenders during the year ended December 31, 2010 in connection the issuance of the 2010 Term Loan (Note 8). The Lenders also hold warrants to purchase an aggregate of up to 69,999 shares of the Company’s common stock, which were exercisable only upon the drawdown of the additional $11,000,000 subject to FDA approval of the NDA for ILUVIEN by December 31, 2011, which was not obtained. In May 2013, in connection with the 2013 Loan Agreement, the Company re-priced warrants to purchase an aggregate of up to 31,818 shares of the Company's common stock previously issued to SVB in connection with the 2010 Term Loan; 15,909 of which were previously exercisable only upon the drawdown of the additional $11,000,000 of the 2010 Term Loan subject to FDA approval of the NDA for ILUVIEN by December 31, 2011. Upon re-pricing, each of the warrants was exercisable immediately at a per-share exercise price of $2.86 and had a remaining term of 7.4 years. |
Concentration_and_Credit_Risk
Concentration and Credit Risk | 12 Months Ended |
Dec. 31, 2013 | |
Risks and Uncertainties [Abstract] | ' |
CONCENTRATIONS AND CREDIT RISK | ' |
CONCENTRATIONS AND CREDIT RISK | |
There were two customers that comprised $314,000 of the Company’s accounts receivable at December 31, 2013. These same two customers accounted for approximately 23% of the Company's total consolidated revenues for the year ended December 31, 2013. No other customer accounted for more than 10% of revenue in 2013. There were no accounts receivable at December 31, 2012 or revenues for the year ended December 31, 2012. | |
For the years ended December 31, 2013 and 2012, two vendors comprised approximately 42% of the Company’s total purchases. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||
INCOME TAXES | ' | |||||||||||||
INCOME TAXES | ||||||||||||||
The components of net loss before taxes are as follows: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||
United States | $ | (29,303 | ) | $ | (19,746 | ) | ||||||||
Foreign | (16,926 | ) | — | |||||||||||
Loss before provision for income taxes | $ | (46,229 | ) | $ | (19,746 | ) | ||||||||
In accordance with ASC 740, the Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of assets and liabilities at the enacted tax rates in effect for the year in which the differences are expected to reverse. The Company records a valuation allowance against the net deferred tax asset to reduce the net carrying value to an amount that is more likely than not to be realized. | ||||||||||||||
The provision for income taxes consists of the following components: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||
Deferred benefit (expense): | ||||||||||||||
Federal | $ | (18,565 | ) | $ | 7,543 | |||||||||
State | (2,162 | ) | 879 | |||||||||||
Foreign | 3,160 | — | ||||||||||||
(17,567 | ) | 8,422 | ||||||||||||
Valuation allowance | 17,567 | (8,422 | ) | |||||||||||
Income tax benefit (expense) | $ | — | $ | — | ||||||||||
The Company is recording a foreign tax expense component for the first time during tax year 2013. The Company's subsidiaries in the Netherlands and the United Kingdom commenced business during the current year. All foreign subsidiaries incurred net operating losses in their first year of existence. The net operating loss carry-forwards of the foreign entities are fully reserved as of the current balance sheet date. | ||||||||||||||
Worldwide net deferred tax assets and liabilities are as follows: | ||||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Deferred tax assets (current and non-current) | (In thousands) | |||||||||||||
Depreciation and amortization | $ | 34 | $ | 116 | ||||||||||
Other deferred tax assets | 1,906 | 1,257 | ||||||||||||
NOL carry-forwards | 33,454 | 53,121 | ||||||||||||
Research and development costs | 6,142 | 7,116 | ||||||||||||
Collaboration agreement receivable reserves | 4,638 | 2,113 | ||||||||||||
Valuation allowance | (46,156 | ) | (63,723 | ) | ||||||||||
Total deferred tax assets | $ | 18 | $ | — | ||||||||||
Deferred tax liabilities (current and non-current) | ||||||||||||||
Unrealized foreign currency gains | $ | (18 | ) | $ | — | |||||||||
Other deferred tax liabilities | — | — | ||||||||||||
Total deferred tax liabilities | (18 | ) | — | |||||||||||
Net deferred tax assets and deferred tax liabilities (current and non-current) | $ | — | $ | — | ||||||||||
In Accordance with ASC 740-10-45-4, the Company presents below the current and non-current components of the Company's deferred tax assets and deferred tax liabilities. The Company has applied the jurisdictional netting requirements of ASC 740-10-45-5 to allocate the valuation allowance between current and non-current deferred tax assets on a jurisdictional basis. The current deferred tax liability and the non-current deferred tax asset disclosed below are attributable to the United States. Deferred tax positions in each foreign jurisdiction net to zero on both a current and non-current basis. | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||
Current deferred tax liability | $ | (18 | ) | $ | — | |||||||||
Non-current deferred tax asset | 18 | — | ||||||||||||
A reconciliation from the federal statutory rate to the total provision for income taxes is as follows: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Amount | Percent | Amount | Percent | |||||||||||
Federal tax benefit at statutory rate | $ | (15,718 | ) | 34 | % | $ | (6,713 | ) | 34 | % | ||||
State tax — net of federal benefit | (1,160 | ) | 2.5 | (782 | ) | 4 | ||||||||
Permanent items and other | 31,851 | (68.9 | ) | (927 | ) | 4.7 | ||||||||
Foreign rate differential | 2,594 | (5.6 | ) | — | — | |||||||||
Change in valuation allowance | (17,567 | ) | 38 | 8,422 | (42.7 | ) | ||||||||
Total tax benefit (expense) | $ | — | — | % | $ | — | — | % | ||||||
The significant increase for the current year in the effect of permanent differences is caused by intercompany transactions between Alimera Sciences, Inc. and its subsidiaries. For financial statement purposes, the transaction eliminates in consolidation. For income tax purposes, the transaction resulted in taxable income in the United States which was offset by net operating losses. | ||||||||||||||
Income tax positions are considered for uncertainty in accordance with ASC 740-10. The Company believes that its income tax filing positions and deductions are more likely than not of being sustained on audit and does not anticipate any adjustments that will result in a material change to its financial position; therefore, no ASC 740-10 liabilities and no related penalties and interest have been recorded. The Company does not anticipate any material changes to its uncertain tax positions within the next 12 months. Tax years since from 2010 to 2013 remain subject to examination in Georgia, Tennessee, and on the federal level, with the exception of the assessment of NOL carry-forwards available for utilization which can be examined for all years since 2003. The statute of limitations on these years will close when the NOLs expire or when the statute closes on the years in which the NOLs are utilized. | ||||||||||||||
Significant management judgment is involved in determining the provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against net deferred tax assets. Due to uncertainties with respect to the realization of deferred tax assets due to the history of operating losses, a valuation allowance has been established against the entire net deferred tax asset balance. The valuation allowance is based on management’s estimates of taxable income in the jurisdictions in which the Company operates and the period over which deferred tax assets will be recoverable. In the event that actual results differ from these estimates or the Company adjusts these estimates in future periods, a change in the valuation allowance may be needed, which could materially impact the Company’s financial position and results of operations. | ||||||||||||||
At December 31, 2013 and 2012, the Company had federal net operating loss (NOL) carry-forwards of approximately $82,380,000 and $142,580,000 and state NOL carry-forwards of approximately $65,840,000, and $126,050,000 respectively, that are available to reduce future income unless otherwise taxable. If not utilized, the federal NOL carry-forwards will expire at various dates between 2023 and 2033 and the state NOL carry-forwards will expire at various dates between 2020 and 2033. Additionally, the Company generated NOLs in the Netherlands and the United Kingdom during the current year in the amounts of $3,800,000 and $13,200,000 respectively (gross in USD). If not utilized, the Netherlands NOL carry-forwards will expire in 2022 (9 year carryover period). The UK NOL carry-forwards will never expire under current United Kingdom tax law. | ||||||||||||||
NOL carry-forwards may be subject to annual limitations under Internal Revenue Code Section 382 (or comparable provisions of state law) in the event that certain changes in ownership of the Company were to occur. The Company periodically evaluates its NOL carry-forwards and whether certain changes in ownership, including its IPO, have occurred that would limit the Company’s ability to utilize a portion of its NOL carry-forwards. If it is determined that significant ownership changes have occurred since the Company generated its NOL carry-forwards, it may be subject to annual limitations on the use of these NOL carry-forwards under Internal Revenue Code (IRC), Section 382 (or comparable provisions of state law). The issuance of the Series A Convertible Preferred Stock on October 2, 2012 constituted such a change in ownership. As a result of this change in ownership, the Company performed a formal analysis in connection with IRC Section 382 and determined that approximately $13,700,000 of its NOLs generated prior to the change in ownership could not be utilized in the future. | ||||||||||||||
As of December 31, 2013, the Company had cumulative book losses in foreign subsidiaries of $16,926,000. The Company has not recorded a deferred tax asset for the excess of tax over book basis in the stock of its foreign subsidiaries. The Company anticipates that its foreign subsidiaries will be profitable and have earnings in the future. Once the foreign subsidiaries do have earnings, the Company intends to indefinitely reinvest in its foreign subsidiaries all undistributed earnings of and original investments in such subsidiaries. As a result, the Company does not expect to record deferred tax liabilities in the future related to excesses of book over tax basis in the stock of its foreign subsidiaries in accordance with ASC 740-30-25. |
Fair_Value
Fair Value | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
FAIR VALUE | ' | |||||||||||||||
FAIR VALUE | ||||||||||||||||
The Company applies ASC 820, Fair Value Measurements in determining the fair value of certain assets and liabilities. Under this standard, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. | ||||||||||||||||
In determining fair value, the Company uses various valuation approaches. The hierarchy of those valuation approaches is broken down into three levels based on the reliability of inputs as follows: | ||||||||||||||||
Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. The valuation under this approach does not entail a significant degree of judgment. | ||||||||||||||||
Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability, (e.g., interest rates and yield curves observable at commonly quoted intervals or current market) and contractual prices for the underlying financial instrument, as well as other relevant economic measures. | ||||||||||||||||
Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. | ||||||||||||||||
There have been no changes in the methodologies used at December 31, 2013 and 2012. | ||||||||||||||||
The following fair value table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: | ||||||||||||||||
31-Dec-13 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash equivalents(1) | $ | 6,944 | $ | — | $ | — | $ | 6,944 | ||||||||
Assets measured at fair value | $ | 6,944 | $ | — | $ | — | $ | 6,944 | ||||||||
Liabilities: | ||||||||||||||||
Derivative warrant liability (2) | $ | — | $ | 16,381 | $ | — | $ | 16,381 | ||||||||
Liabilities measured at fair value | $ | — | $ | 16,381 | $ | — | $ | 16,381 | ||||||||
31-Dec-12 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash equivalents(1) | $ | 48,943 | $ | — | $ | — | $ | 48,943 | ||||||||
Assets measured at fair value | $ | 48,943 | $ | — | $ | — | $ | 48,943 | ||||||||
Liabilities: | ||||||||||||||||
Derivative warrant liability (2) | $ | — | $ | 4,418 | $ | — | $ | 4,418 | ||||||||
Liabilities measured at fair value | $ | — | $ | 4,418 | $ | — | $ | 4,418 | ||||||||
-1 | The carrying amounts approximate fair value due to the short-term maturities of the cash equivalents. | |||||||||||||||
-2 | The Company uses the Black-Scholes option pricing model and assumptions that consider, among other variables, the fair value of the underlying stock, risk-free interest rate, volatility, expected life and dividend rates in estimating fair value for the warrants considered to be derivative instruments. Assumptions used are generally consistent with those disclosed for stock based compensation (see Note 11). |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
EMPLOYEE BENEFIT PLANS | ' |
EMPLOYEE BENEFIT PLANS | |
The Company has a salary deferral 401(k) plan which covers substantially all employees of the Company. In May 2008, the Company established a plan to match participant contributions subject to certain plan limitations. The Company’s matching plan took effect on July 1, 2008. Compensation expense associated with the Company’s matching plan totaled $95,000 and $66,000 for the years ended December 31, 2013 and 2012, respectively. The Company may also make an annual discretionary profit-sharing contribution. No such discretionary contributions were made during the years ended December 31, 2013 and 2012, respectively. | |
In April 2010, the Company established an Employee Stock Purchase Plan (the “Purchase Plan”). Under the Company’s Purchase Plan, eligible employees can participate and purchase common stock semi-annually through accumulated payroll deductions. The Purchase Plan is administered by the Company’s board of directors or a committee appointed by the Company’s board of directors. Under the Purchase Plan eligible employees may purchase stock at 85% of the lower of the fair market value of a share of Common Stock on the offering date or the exercise date. The Purchase Plan provides for two six-month purchase periods generally starting on the first trading day on or after October 31 and April 30 of each year. Eligible employees may contribute up to 15% of their eligible compensation. A participant may purchase a maximum of 2,500 shares of common stock per purchase period. The value of the shares purchased in any calendar year may not exceed $25,000. | |
The Purchase Plan was effective upon the completion of the Company’s IPO, at which time a total of 494,422 shares of the Company’s common stock were made available for sale. As of January 1 of each year, starting in 2011, the reserve will automatically be restored to the original level. A total of 26,123 and 15,984 shares of the Company’s common shares were acquired through the Purchase Plan during the years ended December 31, 2013 and 2012, respectively. As such, on January 1, 2014 and 2013, respectively, an additional 26,123 and 15,984 shares became available for future issuance under the Purchase Plan. In accordance with ASC 718-50, the ability to purchase stock at 85% of the lower of the fair market value of a share of Common Stock on the offering date or the exercise date represents an option. The Company estimates the fair value of such options at the inception of each offering period using the Black-Scholes valuation model. In connection with the Purchase Plan, the Company recorded $21,000 and $34,000 of compensation expense for the years ended December 31, 2013 and 2012, respectively. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
SUBSEQUENT EVENTS | |
On January 31, 2014, the Company issued an aggregate of 6,250,000 shares of its common stock for aggregate gross proceeds of approximately $37,500,000 (Private Placement). The Private Placement was issued and sold pursuant to a Securities Purchase Agreement, dated January 27, 2014, between the Company and certain purchasers. The per share purchase price of a share of common stock was $6.00. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Use of Estimates in Financial Statements | ' |
Use of Estimates in Financial Statements — The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and, as such, include amounts based on informed estimates and judgments of management. Actual results could differ from those estimates. | |
Principles of Consolidation | ' |
Principles of Consolidation — The consolidated financial statements include the accounts of Alimera Sciences, Inc. and all wholly-owned subsidiaries. All significant inter-company balances have been eliminated in consolidation. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents — Cash and cash equivalents include cash and highly liquid investments that are readily convertible into cash and have a maturity of 90 days or less when purchased. Generally, cash and cash equivalents held at financial institutions are in excess of federally insured limits. The Company limits its exposure to credit loss by placing its cash and cash equivalents in highly liquid investments with high quality financial institutions | |
Revenue Recognition | ' |
Revenue Recognition — The Company recognizes revenue from its product sales when title passes and the risks and reward of ownership have passed to the customer based on the terms of sale. Title passes generally upon shipment or upon receipt by the customer depending on the agreement with the customer. Precise information regarding the receipt of product by the customer is not always readily available. In these cases, the Company estimates the date of receipt based upon shipping policies by geographic location. In the Company's current commercial markets of Germany and the United Kingdom, its shipping policies require delivery within 24 hours of shipment in most instances. | |
Accounts Receivable and Allowance for Doubtful Accounts | ' |
Accounts Receivable and Allowance for Doubtful Accounts — Accounts receivable are generated through sales primarily to pharmacies, hospitals and wholesalers which began in 2013. The company does note require collateral from its customers for accounts receivable. The carrying amount of accounts receivable is reduced by an allowance for doubtful accounts that reflects management's best estimate of the amounts that will not be collected. In addition to reviewing delinquent accounts receivable, management considers many factors in estimating its general allowance, including historical data, experience, customer types, credit worthiness, and economic trends. From time to time, management may adjust its assumptions for anticipated changes in any of those or other factors expected to affect collectability. Provisions for doubtful accounts are charged to operations at the time management determines these accounts may become uncollectable. The Company writes off accounts receivable when management determines they are uncollectable and credits payments subsequently received on such receivables to bad debt expense in the period received. | |
Inventory | ' |
Inventory — Inventories are stated at the lower of cost or market with cost determined under the first in, first out (FIFO) method. Included in inventory costs are component parts, work-in-progress and finished goods. The Company relies on third party manufacturers for the production of all inventory and does not capitalize any internal costs. The Company periodically reviews inventories for excess or obsolete inventory and writes down obsolete or otherwise unmarketable inventory to its estimated net realizable value. If the actual net realizable value is less than that estimated, or if there are any further determinations that inventory will not be marketable based on estimates of demand, additional inventory write-downs will be required. | |
Samples | ' |
Samples — Samples consist of ILUVIEN applicators and applicator components to be used in the Company's sales and marketing efforts and are included in prepaid expenses and other current assets in the Company's consolidated balance sheets. Samples will be expensed upon distribution as a selling expense. | |
Long-Lived Assets | ' |
Long-Lived Assets — Property and equipment are stated at cost. Additions and improvements are capitalized while repairs and maintenance are expensed. Depreciation is provided on the straight-line method over the useful life of the related assets beginning when the asset is placed in service. The estimated useful lives of the individual assets are as follows: furniture and fixtures and manufacturing equipment, five years; office equipment and leasehold improvements, 29 months to five years; and software, three years. | |
Impairment | ' |
Impairment — Property and equipment and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When indicators of impairment are present, the Company evaluates the carrying amount of such assets in relation to the operating performance and future estimated undiscounted net cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. The assessment of the recoverability of assets will be impacted if estimated future operating cash flows are not achieved. | |
Income Taxes | ' |
Income Taxes — In accordance with the Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) 740, Income Taxes, the Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of its assets and liabilities. The Company records a valuation allowance against its net deferred tax asset to reduce the net carrying value to an amount that is more likely than not to be realized. | |
Income tax positions are considered for uncertainty in accordance with ASC 740-10. The Company believes that its income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material change to its financial position; therefore, no ASC 740-10 liabilities have been recorded. The Company will recognize accrued interest and penalties related to unrecognized tax benefits, if any, as interest expense and income tax expense, respectively, in the consolidated statements of operations. | |
Significant management judgment is involved in determining the provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against net deferred tax assets. Due to uncertainties with respect to the realization of deferred tax assets as a result of the Company's history of operating losses, a valuation allowance has been established against the entire net deferred tax asset balance. The valuation allowance is based on management’s estimates of taxable income in the jurisdictions in which the Company operates and the period over which deferred tax assets will be recoverable. In the event that actual results differ from these estimates or the Company adjusts these estimates in future periods, a change in the valuation allowance may be needed, which could materially impact the Company’s financial position and results of operations. | |
Research and Development Costs | ' |
Research and Development Costs — Research and development costs are expensed as incurred. | |
Stock-Based Compensation | ' |
Stock-Based Compensation — The Company has stock option plans which provide for grants of stock options to employees and directors to purchase shares of the Company’s common stock at exercise prices generally equal to the fair values of such stock at the dates of grant. Compensation cost is recognized for all share-based awards based on the grant date fair value in accordance with the provisions of ASC 718, Compensation — Stock Compensation. The fair values for the options are estimated at the dates of grant using a Black-Scholes option-pricing model. | |
Additionally, the Company sponsors an employee stock purchase plan under which employees may elect payroll withholdings to fund purchases of the Company’s stock at a discount. The Company estimates the fair value of the option to purchase shares of the Company’s common stock using the Black-Scholes valuation model and recognizes compensation expense in accordance with the provisions of ASC 718-50, Employee Share Purchase Plans. | |
Derivative Financial Instruments | ' |
Derivative Financial Instruments — The Company generally does not use derivative instruments to hedge exposures to cash flow or market risks. However, certain warrants to purchase Series A convertible Preferred Stock or common stock that do not meet the requirements for classification as equity, in accordance with the Derivatives and Hedging Topic of the ASC, are classified as liabilities. In such instances, net-cash settlement is assumed for financial reporting purposes, even when the terms of the underlying contracts do not provide for a net-cash settlement. These warrants are considered derivative instruments because the agreements provide for settlement in Series A Convertible Preferred Shares or common shares at the option of the holder, an adjustment to the warrant exercise price for common shares at some point in the future, and contain anti-dilution provisions whereby the number of shares for which the warrants are exercisable and/or the exercise price of the warrants are subject to change in the event of certain issuances of stock at prices below the then-effective exercise price of the warrants. The primary underlying risk exposure pertaining to the warrants is the change in fair value of the underlying common stock. Such financial instruments are initially recorded at fair value with subsequent changes in fair value recorded as a component of change in fair value of derivative warrant liability in the consolidated statements of operations in each reporting period. If these instruments subsequently meet the requirements for equity classification, the Company reclassifies the fair value to equity. At December 31, 2013 and 2012, these warrants represented the only outstanding derivative instruments issued or held by the Company. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments — The carrying amounts of the Company’s financial instruments, including cash and cash equivalents and current liabilities approximate their fair value because of their short maturities. The weighted average interest rate of the Company’s note payable to Silicon Valley Bank approximates the rate at which the Company could obtain alternative financing; therefore, the carrying amount of the note approximates the fair value. The Company uses the Black-Scholes option pricing model and assumptions that consider, among other variables, the fair value of the underlying stock, risk-free interest rate, volatility, expected life and dividend rates in estimating fair value for the warrants considered to be derivative instruments. | |
Foreign Currency Translation | ' |
Translation Policy - The U.S. dollar is the functional currency for Alimera Sciences, Inc. The Euro is the functional currency for the majority of the Company's subsidiaries operating outside of the U.S. | |
For Alimera Sciences, Inc., foreign currency assets and liabilities are remeasured into U.S. dollars at end-of-period exchange rates, except for nonmonetary balance sheet accounts, which are remeasured at historical exchange rates. Revenue and expenses are remeasured at average exchange rates in effect during each period, except for those expenses related to the non-monetary balance sheet amounts, which are remeasured at historical exchange rates. Gains or losses from foreign currency remeasurement are included in income. | |
The financial statements of the foreign subsidiaries whose functional currency is not the U.S, dollar, have been translated into U.S. dollars in accordance with ASC 830-30, Translation of Financial Statements. For the subsidiaries operating outside of the U.S. that are denominated in the Euro, assets and liabilities are translated at end-of-period rates while revenues and expenses are translated at average rates in effect during the period in which the activity took place. Equity is translated at historical rates and the resulting cumulative translation adjustments are included as a component of accumulated other comprehensive income. | |
Earnings (Loss) Per Share (EPS) | ' |
Earnings (Loss) Per Share (EPS) — Basic EPS is calculated in accordance with ASC 260, Earnings per Share by dividing net income or loss attributable to common stockholders by the weighted average common stock outstanding. Diluted EPS is calculated in accordance with ASC 260 by adjusting weighted average common shares outstanding for the dilutive effect of common stock options, warrants, convertible preferred stock and accrued but unpaid convertible preferred stock dividends. In periods where a net loss is recorded, no effect is given to potentially dilutive securities, since the effect would be anti-dilutive. | |
Reporting Segments | ' |
Reporting Segments — The Company's chief decision maker is the Chief Executive Officer (CEO). While the CEO is apprised of a variety of financial metrics and information, the business is principally managed on an aggregate basis. All of the Company's revenues are currently, and for the foreseeable future, generated in the European Union (EU). Additionally, the majority of the Company's expenditures and personnel either directly support its efforts in the EU, or cannot be specifically attributed to a geography outside of the EU. Therefore, the Company has only one reportable operating segment. If the Company commercializes ILUVIEN in additional jurisdictions in the future, management expects to report multiple operating segments based on geographic segmentation. | |
Promotional and Advertising Costs | ' |
Promotional and Advertising Costs — Promotional and advertising costs are expensed as incurred. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements — In March 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2013-05: Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (ASU 2013-05), which applies to the release of the cumulative translation adjustment resulting from certain events occurring in foreign subsidiaries. ASU 2013-05 is effective for fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2012. The adoption of ASU 2013-05 did not have a material impact on the Company's consolidated financial statements. In February 2013, the FASB issued ASU No. 2013-02: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-02), which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. ASU 2013-02 is effective for fiscal years, and interim reporting periods within those years, beginning on or after December 15, 2012. The adoption of ASU 2013-02 did not have a material impact on the Company's consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accounting Policies [Abstract] | ' | |||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | |||||
Weighted average securities that would have diluted basic EPS, but were not included in the computation of diluted EPS because to do so would have been anti-dilutive, were as follows: | ||||||
Years Ended December 31, | ||||||
2013 | 2012 | |||||
Series A convertible preferred stock | 15,037,594 | — | ||||
Series A convertible preferred stock warrants | 518,803 | — | ||||
Common stock warrants | 5,761 | 3,289 | ||||
Stock options | 2,731,713 | 855,541 | ||||
Total | 18,293,871 | 858,830 | ||||
Inventory_Tables
Inventory (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of Inventory | ' | |||||||
Inventory consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Component parts (1) | $ | 266 | $ | 35 | ||||
Work-in-process (2) | 587 | 684 | ||||||
Finished goods | 1,343 | — | ||||||
Total inventory | 2,196 | 719 | ||||||
Inventory reserve | (410 | ) | — | |||||
Inventory — net | $ | 1,786 | $ | 719 | ||||
(1) Component parts inventory consisted of manufactured components of the ILUVIEN applicator. | ||||||||
(2) Work-in-process consisted of completed units of ILUVIEN that are undergoing, but have not completed, quality assurance testing as required by regulatory authorities. |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Schedule of Property and Equipment | ' | |||||||
Property and equipment consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Furniture and fixtures | $ | 308 | $ | 304 | ||||
Office equipment | 425 | 396 | ||||||
Software | 439 | 423 | ||||||
Leasehold improvements | 82 | 45 | ||||||
Manufacturing equipment | 937 | 52 | ||||||
Total property and equipment | 2,191 | 1,220 | ||||||
Less accumulated depreciation and amortization | (1,209 | ) | (1,106 | ) | ||||
Property and equipment — net | $ | 982 | $ | 114 | ||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Summary of Accrued Expenses | ' | |||||||
Accrued expenses consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Accrued clinical investigator expenses | $ | 562 | $ | 897 | ||||
Value added tax payable | 184 | — | ||||||
Accrued other compensation expenses | 106 | 237 | ||||||
Other accrued expenses | 82 | 45 | ||||||
Total accrued expenses | $ | 934 | $ | 1,179 | ||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Schedule of Future Minimum Principal Payments Under Note Payable | ' | |||||||
As of December 31, 2013 a schedule of future minimum principal payments under the Note Payable is as follows (in thousands): | ||||||||
Years Ending December 31 | ||||||||
2014 | $ | 1,667 | ||||||
2015 | 1,667 | |||||||
2016 | 1,527 | |||||||
Total | $ | 4,861 | ||||||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | |||||||
At December 31, 2013, a schedule by year of future minimum payments under operating leases is as follows: | ||||||||
December 31, | ||||||||
2014 | 2015 | |||||||
(In thousands) | ||||||||
Alimera Sciences Inc. | $ | 272 | $ | 23 | ||||
Alimera Sciences Limited | 242 | 13 | ||||||
Total | $ | 514 | $ | 36 | ||||
Schedule by Year of Future Minimum Payments under Capital Leases, Together with Present Value of Minimum Lease Payments | ' | |||||||
At December 31, 2013, a schedule by year of future minimum payments under capital leases, together with the present value of minimum lease payments, is as follows (in thousands): | ||||||||
Years Ending December 31 | ||||||||
2014 | $ | 12 | ||||||
2015 | 12 | |||||||
2016 | 9 | |||||||
Total | 33 | |||||||
Less amount representing interest | (4 | ) | ||||||
Present value of minimum lease payments | 29 | |||||||
Less current portion | (10 | ) | ||||||
Noncurrent portion | $ | 19 | ||||||
Schedule of Property and Equipment Under Capital Leases | ' | |||||||
Property and equipment under capital leases, which are included in property and equipment (Note 5), consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Office equipment | $ | 33 | $ | 36 | ||||
Less accumulated amortization | (5 | ) | (30 | ) | ||||
Total | $ | 28 | $ | 6 | ||||
Stock_Incentive_Plans_Tables
Stock Incentive Plans (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Summary of Stock Option Transactions | ' | |||||||||||||||
A summary of stock option transactions under the plans are as follows: | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Options | Weighted | Options | Weighted | |||||||||||||
Average | Average | |||||||||||||||
Exercise | Exercise | |||||||||||||||
Price | Price | |||||||||||||||
Options outstanding at beginning of period | 5,493,079 | $ | 2.67 | 2,607,446 | $ | 3.88 | ||||||||||
Grants | 2,630,000 | 2.71 | 3,027,500 | 1.73 | ||||||||||||
Forfeitures | (513,059 | ) | 1.96 | (107,822 | ) | 5.57 | ||||||||||
Exercises | (43,582 | ) | 1.64 | (34,045 | ) | 1.53 | ||||||||||
Options outstanding at year end | 7,566,438 | 2.74 | 5,493,079 | 2.67 | ||||||||||||
Options exercisable at year end | 3,304,981 | 3.09 | 2,471,295 | 3.06 | ||||||||||||
Weighted average per share fair value of options granted during the year | $ | 2.14 | $ | 1.34 | ||||||||||||
Summary of Additional Stock Option Transactions | ' | |||||||||||||||
The following table provides additional information related to outstanding stock options, fully vested stock options, and stock options expected to vest as of December 31, 2013: | ||||||||||||||||
Shares | Weighted | Weighted | Aggregate | |||||||||||||
Average | Average | Intrinsic | ||||||||||||||
Exercise | Contractual | Value | ||||||||||||||
Price | Term | |||||||||||||||
(In thousands) | ||||||||||||||||
Outstanding | 7,566,438 | $ | 2.74 | 7.63 years | $ | 17,759 | ||||||||||
Exercisable | 3,304,981 | 3.09 | 5.45 years | 7,589 | ||||||||||||
Expected to vest | 3,469,118 | 2.48 | 9.25 years | 8,314 | ||||||||||||
Weighted-Average Assumptions Used for Option Grants | ' | |||||||||||||||
The Company estimated the fair value of options granted using the Black-Scholes option-pricing model with the following weighted-average assumptions used for option grants: | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Risk-free interest rate | 1.73 | % | 1.01 | % | ||||||||||||
Volatility factor | 100.76 | % | 98.59 | % | ||||||||||||
Grant date fair value of common stock | $ | 2.14 | $ | 1.34 | ||||||||||||
Weighted-average expected life | 5.92 years | 5.98 years | ||||||||||||||
Assumed forfeiture rate | 10 | % | 10 | % | ||||||||||||
Employee Stock-Based Compensation Expense | ' | |||||||||||||||
Employee stock-based compensation expense related to stock options recognized under ASC 718 was as follows: | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Marketing | $ | 366 | $ | 268 | ||||||||||||
Research and development | 504 | 445 | ||||||||||||||
General and administrative | 1,586 | 934 | ||||||||||||||
Total employee stock-based compensation expense | $ | 2,456 | $ | 1,647 | ||||||||||||
Outstanding and Exercisable Options | ' | |||||||||||||||
The following table summarizes outstanding and exercisable options at December 31, 2013: | ||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||
Exercise Prices | Number | Weighted | Number | Weighted | ||||||||||||
Outstanding | Average | Exercisable | Average | |||||||||||||
Remaining | Remaining | |||||||||||||||
Contractual | Contractual | |||||||||||||||
Life | Life | |||||||||||||||
$1.33 | 545,052 | 2.42 | 545,052 | 2.42 | ||||||||||||
1.39 | 378,580 | 3.79 | 378,580 | 3.79 | ||||||||||||
1.65 | 700,000 | 8.11 | 320,834 | 8.11 | ||||||||||||
1.66 | 1,538,500 | 8.97 | 384,625 | 8.97 | ||||||||||||
1.7 | 95,000 | 8.09 | 43,542 | 8.09 | ||||||||||||
1.85 | 292,500 | 9.09 | 87,500 | 9.09 | ||||||||||||
2.04 | 217,312 | 0.76 | 217,312 | 0.76 | ||||||||||||
2.24 | 4,504 | 4.16 | 4,504 | 4.16 | ||||||||||||
2.32 | 130,000 | 8.85 | 35,832 | 8.85 | ||||||||||||
2.36 | 35,000 | 9.92 | — | 0 | ||||||||||||
2.41 | 435,158 | 4.22 | 435,158 | 4.22 | ||||||||||||
2.47 | 1,850,000 | 9.95 | — | 0 | ||||||||||||
2.49 | 20,000 | 8.75 | 5,000 | 8.75 | ||||||||||||
2.77 | 52,500 | 8.45 | 52,500 | 8.45 | ||||||||||||
2.91 | 100,000 | 9.22 | — | 0 | ||||||||||||
2.99 | 2,500 | 9.35 | — | 0 | ||||||||||||
3.04 | 5,000 | 9.33 | — | 0 | ||||||||||||
3.75 | 12,500 | 9.69 | — | 0 | ||||||||||||
3.83 | 22,500 | 9.72 | — | 0 | ||||||||||||
3.88 | 33,823 | 4.09 | 33,823 | 4.09 | ||||||||||||
4.01 | 247,065 | 5.59 | 247,065 | 5.59 | ||||||||||||
4.15 | 145,000 | 9.96 | — | 0 | ||||||||||||
5.03 | 1,176 | 4.65 | 1,176 | 4.65 | ||||||||||||
5.39 | 160,000 | 9.46 | 80,000 | 9.46 | ||||||||||||
5.44 | 2,059 | 4.77 | 2,059 | 4.77 | ||||||||||||
6.74 | 79,500 | 6.61 | 66,763 | 6.61 | ||||||||||||
7.53 | 37,500 | 7.44 | 37,500 | 7.44 | ||||||||||||
7.97 | 20,000 | 7.3 | 12,500 | 7.3 | ||||||||||||
8.47 | 43,059 | 7.08 | 30,455 | 6.88 | ||||||||||||
11 | 50,000 | 6.32 | 43,748 | 6.32 | ||||||||||||
11.15 | 302,650 | 6.84 | 233,287 | 6.84 | ||||||||||||
11.91 | 8,000 | 6.92 | 6,166 | 6.92 | ||||||||||||
7,566,438 | 3,304,981 | |||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||
Components of Net Loss before Taxes | ' | |||||||||||||
The components of net loss before taxes are as follows: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||
United States | $ | (29,303 | ) | $ | (19,746 | ) | ||||||||
Foreign | (16,926 | ) | — | |||||||||||
Loss before provision for income taxes | $ | (46,229 | ) | $ | (19,746 | ) | ||||||||
Components of Income Tax Benefit | ' | |||||||||||||
The provision for income taxes consists of the following components: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||
Deferred benefit (expense): | ||||||||||||||
Federal | $ | (18,565 | ) | $ | 7,543 | |||||||||
State | (2,162 | ) | 879 | |||||||||||
Foreign | 3,160 | — | ||||||||||||
(17,567 | ) | 8,422 | ||||||||||||
Valuation allowance | 17,567 | (8,422 | ) | |||||||||||
Income tax benefit (expense) | $ | — | $ | — | ||||||||||
Net Deferred Tax Assets (Liabilities) | ' | |||||||||||||
Worldwide net deferred tax assets and liabilities are as follows: | ||||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Deferred tax assets (current and non-current) | (In thousands) | |||||||||||||
Depreciation and amortization | $ | 34 | $ | 116 | ||||||||||
Other deferred tax assets | 1,906 | 1,257 | ||||||||||||
NOL carry-forwards | 33,454 | 53,121 | ||||||||||||
Research and development costs | 6,142 | 7,116 | ||||||||||||
Collaboration agreement receivable reserves | 4,638 | 2,113 | ||||||||||||
Valuation allowance | (46,156 | ) | (63,723 | ) | ||||||||||
Total deferred tax assets | $ | 18 | $ | — | ||||||||||
Deferred tax liabilities (current and non-current) | ||||||||||||||
Unrealized foreign currency gains | $ | (18 | ) | $ | — | |||||||||
Other deferred tax liabilities | — | — | ||||||||||||
Total deferred tax liabilities | (18 | ) | — | |||||||||||
Net deferred tax assets and deferred tax liabilities (current and non-current) | $ | — | $ | — | ||||||||||
In Accordance with ASC 740-10-45-4, the Company presents below the current and non-current components of the Company's deferred tax assets and deferred tax liabilities. The Company has applied the jurisdictional netting requirements of ASC 740-10-45-5 to allocate the valuation allowance between current and non-current deferred tax assets on a jurisdictional basis. The current deferred tax liability and the non-current deferred tax asset disclosed below are attributable to the United States. Deferred tax positions in each foreign jurisdiction net to zero on both a current and non-current basis. | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||
Current deferred tax liability | $ | (18 | ) | $ | — | |||||||||
Non-current deferred tax asset | 18 | — | ||||||||||||
Reconciliation of Income Tax Benefit to Amount Determined by Applying U.S. Federal Statutory Income Tax Rate | ' | |||||||||||||
A reconciliation from the federal statutory rate to the total provision for income taxes is as follows: | ||||||||||||||
Years Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Amount | Percent | Amount | Percent | |||||||||||
Federal tax benefit at statutory rate | $ | (15,718 | ) | 34 | % | $ | (6,713 | ) | 34 | % | ||||
State tax — net of federal benefit | (1,160 | ) | 2.5 | (782 | ) | 4 | ||||||||
Permanent items and other | 31,851 | (68.9 | ) | (927 | ) | 4.7 | ||||||||
Foreign rate differential | 2,594 | (5.6 | ) | — | — | |||||||||
Change in valuation allowance | (17,567 | ) | 38 | 8,422 | (42.7 | ) | ||||||||
Total tax benefit (expense) | $ | — | — | % | $ | — | — | % | ||||||
Fair_Value_Tables
Fair Value (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets Measured at Fair Value on Recurring Basis | ' | |||||||||||||||
The following fair value table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: | ||||||||||||||||
31-Dec-13 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash equivalents(1) | $ | 6,944 | $ | — | $ | — | $ | 6,944 | ||||||||
Assets measured at fair value | $ | 6,944 | $ | — | $ | — | $ | 6,944 | ||||||||
Liabilities: | ||||||||||||||||
Derivative warrant liability (2) | $ | — | $ | 16,381 | $ | — | $ | 16,381 | ||||||||
Liabilities measured at fair value | $ | — | $ | 16,381 | $ | — | $ | 16,381 | ||||||||
31-Dec-12 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash equivalents(1) | $ | 48,943 | $ | — | $ | — | $ | 48,943 | ||||||||
Assets measured at fair value | $ | 48,943 | $ | — | $ | — | $ | 48,943 | ||||||||
Liabilities: | ||||||||||||||||
Derivative warrant liability (2) | $ | — | $ | 4,418 | $ | — | $ | 4,418 | ||||||||
Liabilities measured at fair value | $ | — | $ | 4,418 | $ | — | $ | 4,418 | ||||||||
-1 | The carrying amounts approximate fair value due to the short-term maturities of the cash equivalents. | |||||||||||||||
-2 | The Company uses the Black-Scholes option pricing model and assumptions that consider, among other variables, the fair value of the underlying stock, risk-free interest rate, volatility, expected life and dividend rates in estimating fair value for the warrants considered to be derivative instruments. Assumptions used are generally consistent with those disclosed for stock based compensation (see Note 11). |
Nature_of_Operations_Additiona
Nature of Operations - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |
Jan. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Oct. 31, 2013 | Dec. 31, 2013 | |
ILUVIEN | ILUVIEN | Maximum | French National Health Insurance | ||
country | ILUVIEN | ILUVIEN | |||
Nature Of Operations [Line Items] | ' | ' | ' | ' | ' |
Post-authorization open study period | ' | ' | '5 years | ' | ' |
Appraisal consultation document fee received | $5,500 | ' | ' | ' | ' |
Insurance reimbursement rate | ' | ' | ' | ' | 100.00% |
Number of European countries where drug approval is sought | ' | 10 | ' | ' | ' |
Patient follow-up data required to be submitted in conjunction with clinical trial results for drug approval | ' | ' | ' | '12 months | ' |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Securities Not Included in Computation of Diluted EPS (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Securities not included in the computation of diluted EPS | ' | ' |
Total potentially dilutive securities | 18,293,871 | 858,830 |
Series A convertible preferred stock | ' | ' |
Securities not included in the computation of diluted EPS | ' | ' |
Total potentially dilutive securities | 15,037,594 | 0 |
Series A convertible preferred stock warrants | ' | ' |
Securities not included in the computation of diluted EPS | ' | ' |
Total potentially dilutive securities | 518,803 | 0 |
Common stock warrants | ' | ' |
Securities not included in the computation of diluted EPS | ' | ' |
Total potentially dilutive securities | 5,761 | 3,289 |
Stock options | ' | ' |
Securities not included in the computation of diluted EPS | ' | ' |
Total potentially dilutive securities | 2,731,713 | 855,541 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment | |||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Cash and cash equivalents | $12,628 | $49,564 | $33,108 |
Percentage of cash and cash equivalents in domestic financial institutions | 100.00% | 100.00% | ' |
Sample inventories | $14 | $65 | ' |
Number of operating business segment | 1 | ' | ' |
Furniture and Fixtures | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives | '5 years | ' | ' |
Office Equipment | Minimum | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives | '29 months | ' | ' |
Office Equipment | Maximum | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives | '5 years | ' | ' |
Software | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives | '3 years | ' | ' |
Factors_Affecting_Operations_A
Factors Affecting Operations - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 |
Subsequent event | |||
Issuance of equity | |||
Private placement | |||
Factors Affecting Operations [Line Items] | ' | ' | ' |
Proceeds from sale of common stock | $53 | $38 | $37,500 |
Accumulated deficit | -277,345 | -231,116 | ' |
Cash and cash equivalents | $12,628 | ' | ' |
Inventory_Components_of_Invent
Inventory - Components of Inventory (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Inventory net realizable value | ' | ' | ||
Component parts | $266 | [1] | $35 | [1] |
Work-in-process | 587 | [2] | 684 | [2] |
Finished goods | 1,343 | 0 | ||
Inventory, Gross | 2,196 | 719 | ||
Inventory reserve | -410 | 0 | ||
Inventory — net | $1,786 | $719 | ||
[1] | Component parts inventory consisted of manufactured components of the ILUVIEN applicator. | |||
[2] | Work-in-process consisted of completed units of ILUVIEN that are undergoing, but have not completed, quality assurance testing as required by regulatory authorities. |
Property_and_Equipment_Compone
Property and Equipment - Components of Property and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Furniture and fixtures | $308 | $304 |
Office equipment | 425 | 396 |
Software | 439 | 423 |
Leasehold improvements | 82 | 45 |
Manufacturing equipment | 937 | 52 |
Total property and equipment | 2,191 | 1,220 |
Less accumulated depreciation and amortization | -1,209 | -1,106 |
Property and equipment — net | $982 | $114 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Abstract] | ' | ' |
Depreciation and amortization expense | $138 | $106 |
Accrued_Expenses_Summary_of_Ac
Accrued Expenses - Summary of Accrued Expenses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summary of accrued expenses | ' | ' |
Accrued clinical investigator expenses | $562 | $897 |
Value added tax payable | 184 | 0 |
Accrued other compensation expenses | 106 | 237 |
Other accrued expenses | 82 | 45 |
Total accrued expenses | $934 | $1,179 |
License_Agreements_Additional_
License Agreements - Additional Information (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Nov. 30, 2007 | Dec. 31, 2013 | |
Dainippon Sumitomo Pharma Co Ltd | pSivida | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' | ' | ' | ' |
Minimum days to require to revert license in case of breaches of contract | ' | ' | ' | '30 days |
Maximum days to require to revert license in case of breaches of contract | ' | ' | ' | '90 days |
Period of bankruptcy petition proceedings remains undismissed | ' | ' | ' | '60 days |
Share of net profits | 20.00% | ' | ' | ' |
Share of any lump sum milestone payments received from a sub-licensee of ILUVIEN | 33.00% | ' | ' | ' |
Recovery of commercialization costs | 20.00% | ' | ' | ' |
Commercialization costs owned | $12,219,000 | $5,565,000 | ' | ' |
Additional milestone payment after the first product approved by the FDA | ' | ' | ' | 25,000,000 |
Payments for license agreement | ' | ' | 200,000 | ' |
Additional payment for license agreement that the company will be required to make | ' | ' | $200,000 | ' |
Period during which additional payment for license agreement is to be made | ' | ' | '30 days | ' |
Loan_Agreements_Additional_Inf
Loan Agreements - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||
31-May-13 | Oct. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | 31-May-13 | 31-May-13 | Dec. 31, 2013 | 31-May-13 | 31-May-13 | Oct. 31, 2010 | Dec. 31, 2013 | 31-May-13 | Aug. 31, 2011 | 31-May-11 | Oct. 31, 2010 | 31-May-13 | Oct. 31, 2010 | Oct. 31, 2010 | 31-May-13 | 31-May-13 | 31-May-13 | 31-May-13 | |
Alimera Sciences Limited (Limited) | Alimera Sciences, Inc.(Company) | Minimum | Minimum | Maximum | 2010 Term Loan | 2010 Term Loan | 2010 Term Loan | 2010 Term Loan | 2010 Term Loan | 2010 Term Loan | 2010 Term Loan | 2010 Term Loan | 2010 Revolving Loan Agreement | 2010 Revolving Loan Agreement | 2013 Term Loan | 2013 Line of Credit | 2013 Line of Credit | ||||||
Silicon Valley Bank (SVB) | Silicon Valley Bank (SVB) | Silicon Valley Bank (SVB) | Alimera Sciences Limited (Limited) | Alimera Sciences Limited (Limited) | Installment | Silicon Valley Bank (SVB) | MidCap Financial LLP | MidCap Financial LLP | Silicon Valley Bank (SVB) | Alimera Sciences Limited (Limited) | Alimera Sciences Limited (Limited) | Alimera Sciences Limited (Limited) | Prime Rate | ||||||||||
Silicon Valley Bank (SVB) | Silicon Valley Bank (SVB) | Silicon Valley Bank (SVB) | Silicon Valley Bank (SVB) | Silicon Valley Bank (SVB) | Alimera Sciences Limited (Limited) | ||||||||||||||||||
Installment | Silicon Valley Bank (SVB) | ||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advance term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase of term loan | ' | 11,000,000 | ' | ' | ' | ' | 11,000,000 | ' | ' | ' | 11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Frequency of periodic payment monthly installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33 | ' | ' | ' | ' | ' | ' | 36 | ' | ' |
Interest rate on term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.50% | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' |
Final interest payments, as a percentage of total amount borrowed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
An upfront fee payment to Lenders | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | 62,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional debt instrument fee amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued to Lenders to purchase common stock (in shares) | ' | ' | 109,772 | 82,568 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,909 | ' | 23,864 | ' | ' | ' | ' | ' |
Exercise price on warrants (in dollars per share) | 2.86 | ' | ' | ' | ' | ' | 2.86 | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable term of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value on warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 389,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount amortized to interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 366,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lenders hold warrants to purchase an aggregate of common stock | ' | ' | ' | ' | ' | ' | 54,090 | ' | ' | ' | 69,999 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment fee, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' |
Loss on early extinguishment of debt | ' | ' | 153,000 | 0 | ' | ' | ' | ' | ' | ' | ' | 153,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company entitled to borrow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | 15,000,000 | ' |
Payment of upfront fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' |
Term loan amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' |
Interest-only payment period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' |
Eligible accounts receivable percentage used to determine advances against line of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% |
Unused capacity commitment fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' |
Number of shares called by warrants | 31,818 | ' | ' | ' | 39,773 | ' | 31,818 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares exercisable prior to re-pricing | ' | ' | ' | ' | ' | ' | 15,909 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares called by warrants, remaining period | '7 years 4 months 24 days | ' | ' | ' | ' | ' | '7 years 4 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated incremental fair value received by the holder upon re-pricing of warrants | ' | ' | ' | ' | ' | ' | 46,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment fee payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' |
Deferred financing costs capitalized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,000 | ' | ' | ' |
Prepayment fee percentage within the first year of borrowing | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period prepayment is subject to maximum penalty fee | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period prepayment is subject to minimum penalty fee | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in prepayment fee percentage if entity is acquired | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Termination fee amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $112,500 | ' |
Reduction in termination fee amount if entity is acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' |
Minimum adjusted quick ratio | ' | ' | ' | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of dollar value of the company to be maintain with Silicon Valley Bank | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Schedule of Future Minimum Principal Payments Under Note Payable (Detail) (Note Payable, USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Note Payable | ' |
Long Term Debt Maturities Repayments Of Principal [Line Items] | ' |
2014 | $1,667 |
2015 | 1,667 |
2016 | 1,527 |
Total | $4,861 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Schedule of Operating Lease Assets (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' |
2014 | $514 |
2015 | 36 |
Alimera Sciences Inc. | ' |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' |
2014 | 272 |
2015 | 23 |
Alimera Sciences Limited | ' |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' |
2014 | 242 |
2015 | $13 |
Commitments_and_Contingencies_3
Commitments and Contingencies - Schedule by Year of Future Minimum Payments under Capital Leases, Together with Present Value of Minimum Lease Payments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' |
2014 | $12 | ' |
2015 | 12 | ' |
2016 | 9 | ' |
Total | 33 | ' |
Less amount representing interest | -4 | ' |
Present value of minimum lease payments | 29 | ' |
Less current portion | -10 | -6 |
Noncurrent portion | $19 | ' |
Commitments_and_Contingencies_4
Commitments and Contingencies - Property and Equipment Under Capital Leases (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Office equipment | $33 | $36 |
Less accumulated amortization | -5 | -30 |
Total | $28 | $6 |
Commitments_and_Contingencies_5
Commitments and Contingencies - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||
Jan. 02, 2013 | 31-May-13 | Feb. 28, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 02, 2014 | Jan. 02, 2013 | Jan. 02, 2014 | Jan. 02, 2013 | Jan. 02, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Feb. 29, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Nov. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2012 | |
Employee | Employee | Subsequent event | Minimum | Minimum | Maximum | Maximum | CRO Agreement, physician utilization study | CRO Agreement, physician utilization study | CRO Agreement, physician utilization study | Consultant agreement, FDA approval | Consultant agreement, FDA approval | Consultant agreement, FDA approval | Consultant agreement, FDA approval | Quintiles Commercial Europe Limited | Quintiles Commercial Europe Limited | Quintiles Commercial Europe Limited | Office equipment under capital leases | Office equipment under capital leases | ||||
Employee | Subsequent event | Subsequent event | Forecast | Forecast | project | Forecast | ||||||||||||||||
Commitments and Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of notes payable | ' | $5,000,000 | ' | $5,000,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued and unpaid interest payable on Note Payable | ' | ' | ' | 0 | 209,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rent expense under all operating leases | ' | ' | ' | 576,000 | 270,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000 | 11,000 |
Percentage of order of ILUVIEN units required | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreement period | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Renewal option additional period | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prior written notice period | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Clinical and data management services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 690,000 | 798,000 | 2,100,000 | ' | 1,700,000 | 2,300,000 | 300,000 | ' | 7,500,000 | 31,100,000 | ' | ' |
Outsourced services payable | ' | ' | ' | 603,000 | 2,616,000 | ' | ' | ' | ' | ' | 30,000 | 160,000 | ' | ' | ' | ' | ' | ' | 520,000 | ' | ' | ' |
Clinical and data management services contingent upon drug approval by the FDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of drug commercialization projects entered into with partner company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' |
Prepaid clinical and data management services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' |
Number of employees engaged in commercialization projects with partner company, partially dedicated | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of employees engaged in commercialization projects with partner company, fully dedicated | ' | ' | ' | 24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of executives in employment agreements | 6 | ' | ' | 6 | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Executives salaries | ' | ' | ' | ' | ' | ' | $261,000 | $261,000 | $445,000 | $445,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred_Stock_Additional_Inf
Preferred Stock - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2013 | Oct. 02, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Equity [Abstract] | ' | ' | ' | ' |
Number of preferred stock and warrants. | ' | 1,000,000 | ' | ' |
Warrants to purchase additional shares | ' | 300,000 | ' | ' |
Gross proceeds under securities purchase agreement | ' | $40,000 | ' | ' |
Estimated total stock issuance cost | ' | 560 | ' | ' |
Gross proceeds under securities purchase agreement per value | ' | $40 | ' | ' |
Initial conversion price (in dollars per share) | ' | $2.91 | ' | ' |
Initial conversion price subjected to adjustment (in dollars per share) | ' | $3.16 | ' | ' |
Initial conversion price subjected to adjustment two (in dollars per share) | $2.66 | $2.66 | ' | ' |
Voluntary conversion price not subjected to adjustments (in dollars per share) | ' | $3.16 | ' | ' |
Preferred stock converted to common stock per share (in dollars per share) | ' | $10 | ' | ' |
Proceeds from issuance of preferred stock | ' | 30,000 | ' | ' |
Contingent beneficial conversion feature | 4,950 | ' | 4,950 | 0 |
Proportion of each unit of shares (in shares) | ' | 0.3 | ' | ' |
Exercise price of warrants (in dollars per share) | ' | $44 | ' | ' |
Estimated fair value of derivatives | ' | ' | 16,381 | 4,418 |
Gain (loss) on change in fair value of derivatives | ' | ' | ($11,964) | $3,083 |
Stock_Incentive_Plans_Summary_
Stock Incentive Plans - Summary of Stock Option Transactions (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Options | ' | ' |
Options outstanding at beginning of period (in shares) | 5,493,079 | 2,607,446 |
Grants (in shares) | 2,630,000 | 3,027,500 |
Forfeitures (in shares) | -513,059 | -107,822 |
Exercises (in shares) | -43,582 | -34,045 |
Options outstanding at year end (in shares) | 7,566,438 | 5,493,079 |
Options exercisable at year end (in shares) | 3,304,981 | 2,471,295 |
Weighted average per share fair value of options granted during the period (in dollars per share) | $2.14 | $1.34 |
Weighted Average Exercise Price | ' | ' |
Options outstanding at beginning of period (in dollars per share) | $2.67 | $3.88 |
Grants (in dollars per share) | $2.71 | $1.73 |
Forfeitures (in dollars per share) | $1.96 | $5.57 |
Exercises (in dollars per share) | $1.64 | $1.53 |
Options outstanding at year end (in dollars per share) | $2.74 | $2.67 |
Options exercisable at year end (in dollars per share) | $3.09 | $3.06 |
Stock_Incentive_Plans_Addition
Stock Incentive Plans - Additional Stock Option Transactions (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Outstanding, Shares | 7,566,438 | 5,493,079 | 2,607,446 |
Options, Weighted Average Exercise Price (in dollars per share) | $2.74 | $2.67 | $3.88 |
Outstanding, Weighted Average Contractual Term | '7 years 7 months 17 days | ' | ' |
Outstanding, Aggregate Intrinsic Value | $17,759 | ' | ' |
Exercisable, Shares | 3,304,981 | 2,471,295 | ' |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $3.09 | $3.06 | ' |
Exercisable, Weighted Average Contractual Term | '5 years 5 months 12 days | ' | ' |
Exercisable, Aggregate Intrinsic Value | 7,589 | ' | ' |
Expected to vest, Shares | 3,469,118 | ' | ' |
Expected to vest, Weighted Average Exercise Price (in dollars per share) | $2.48 | ' | ' |
Expected to vest, Weighted Average Contractual Term | '9 years 3 months | ' | ' |
Expected to vest, Aggregate Intrinsic Value | $8,314 | ' | ' |
Stock_Incentive_Plans_Weighted
Stock Incentive Plans - Weighted-Average Assumptions Used for Option Grants (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Risk-free interest rate | 1.73% | 1.01% |
Volatility factor | 100.76% | 98.59% |
Grant date fair value of common stock | $2.14 | $1.34 |
Weighted-average expected life | '5 years 11 months 1 day | '5 years 11 months 23 days |
Assumed forfeiture rate | 10.00% | 10.00% |
Stock_Incentive_Plans_Employee
Stock Incentive Plans - Employee Stock-Based Compensation Expense (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total employee stock-based compensation expense | $2,456 | $1,647 |
Marketing | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total employee stock-based compensation expense | 366 | 268 |
Research and development | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total employee stock-based compensation expense | 504 | 445 |
General and administrative | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total employee stock-based compensation expense | $1,586 | $934 |
Stock_Incentive_Plans_Outstand
Stock Incentive Plans - Outstanding and Exercisable Options (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding, Number Outstanding | 7,566,438 |
Options Exercisable, Number Exercisable | 3,304,981 |
$1.33 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $1.33 |
Options Outstanding, Number Outstanding | 545,052 |
Options Outstanding, Weighted Average Remaining Contractual Life | '2 years 5 months 1 day |
Options Exercisable, Number Exercisable | 545,052 |
Options Exercisable, Weighted Average Remaining Contractual Life | '2 years 5 months 1 day |
$1.39 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $1.39 |
Options Outstanding, Number Outstanding | 378,580 |
Options Outstanding, Weighted Average Remaining Contractual Life | '3 years 9 months 14 days |
Options Exercisable, Number Exercisable | 378,580 |
Options Exercisable, Weighted Average Remaining Contractual Life | '3 years 9 months 14 days |
$1.65 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $1.65 |
Options Outstanding, Number Outstanding | 700,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '8 years 1 month 9 days |
Options Exercisable, Number Exercisable | 320,834 |
Options Exercisable, Weighted Average Remaining Contractual Life | '8 years 1 month 9 days |
$1.66 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $1.66 |
Options Outstanding, Number Outstanding | 1,538,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | '8 years 11 months 19 days |
Options Exercisable, Number Exercisable | 384,625 |
Options Exercisable, Weighted Average Remaining Contractual Life | '8 years 11 months 19 days |
$1.70 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $1.70 |
Options Outstanding, Number Outstanding | 95,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '8 years 1 month 2 days |
Options Exercisable, Number Exercisable | 43,542 |
Options Exercisable, Weighted Average Remaining Contractual Life | '8 years 1 month 2 days |
$1.85 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $1.85 |
Options Outstanding, Number Outstanding | 292,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 1 month 2 days |
Options Exercisable, Number Exercisable | 87,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | '9 years 1 month 2 days |
$2.04 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.04 |
Options Outstanding, Number Outstanding | 217,312 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 months 3 days |
Options Exercisable, Number Exercisable | 217,312 |
Options Exercisable, Weighted Average Remaining Contractual Life | '9 months 3 days |
$2.24 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.24 |
Options Outstanding, Number Outstanding | 4,504 |
Options Outstanding, Weighted Average Remaining Contractual Life | '4 years 1 month 27 days |
Options Exercisable, Number Exercisable | 4,504 |
Options Exercisable, Weighted Average Remaining Contractual Life | '4 years 1 month 27 days |
$2.32 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.32 |
Options Outstanding, Number Outstanding | 130,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '8 years 10 months 6 days |
Options Exercisable, Number Exercisable | 35,832 |
Options Exercisable, Weighted Average Remaining Contractual Life | '8 years 10 months 6 days |
$2.36 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.36 |
Options Outstanding, Number Outstanding | 35,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 11 months 1 day |
Options Exercisable, Number Exercisable | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | '0 years |
$2.41 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.41 |
Options Outstanding, Number Outstanding | 435,158 |
Options Outstanding, Weighted Average Remaining Contractual Life | '4 years 2 months 19 days |
Options Exercisable, Number Exercisable | 435,158 |
Options Exercisable, Weighted Average Remaining Contractual Life | '4 years 2 months 19 days |
$2.47 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.47 |
Options Outstanding, Number Outstanding | 1,850,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 11 months 12 days |
Options Exercisable, Number Exercisable | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | '0 years |
$2.49 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.49 |
Options Outstanding, Number Outstanding | 20,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '8 years 9 months |
Options Exercisable, Number Exercisable | 5,000 |
Options Exercisable, Weighted Average Remaining Contractual Life | '8 years 9 months |
$2.77 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.77 |
Options Outstanding, Number Outstanding | 52,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | '8 years 5 months 12 days |
Options Exercisable, Number Exercisable | 52,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | '8 years 5 months 12 days |
$2.91 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.91 |
Options Outstanding, Number Outstanding | 100,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 2 months 19 days |
Options Exercisable, Number Exercisable | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | '0 years |
$2.99 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $2.99 |
Options Outstanding, Number Outstanding | 2,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 4 months 6 days |
Options Exercisable, Number Exercisable | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | '0 years |
$3.04 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $3.04 |
Options Outstanding, Number Outstanding | 5,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 3 months 29 days |
Options Exercisable, Number Exercisable | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | '0 years |
$3.75 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $3.75 |
Options Outstanding, Number Outstanding | 12,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 8 months 8 days |
Options Exercisable, Number Exercisable | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | '0 years |
$3.83 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $3.83 |
Options Outstanding, Number Outstanding | 22,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 8 months 19 days |
Options Exercisable, Number Exercisable | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | '0 years |
$3.88 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $3.88 |
Options Outstanding, Number Outstanding | 33,823 |
Options Outstanding, Weighted Average Remaining Contractual Life | '4 years 1 month 2 days |
Options Exercisable, Number Exercisable | 33,823 |
Options Exercisable, Weighted Average Remaining Contractual Life | '4 years 1 month 2 days |
$4.01 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $4.01 |
Options Outstanding, Number Outstanding | 247,065 |
Options Outstanding, Weighted Average Remaining Contractual Life | '5 years 7 months 2 days |
Options Exercisable, Number Exercisable | 247,065 |
Options Exercisable, Weighted Average Remaining Contractual Life | '5 years 7 months 2 days |
$4.15 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $4.15 |
Options Outstanding, Number Outstanding | 145,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 11 months 15 days |
Options Exercisable, Number Exercisable | 0 |
Options Exercisable, Weighted Average Remaining Contractual Life | '0 years |
$5.03 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $5.03 |
Options Outstanding, Number Outstanding | 1,176 |
Options Outstanding, Weighted Average Remaining Contractual Life | '4 years 7 months 24 days |
Options Exercisable, Number Exercisable | 1,176 |
Options Exercisable, Weighted Average Remaining Contractual Life | '4 years 7 months 24 days |
$5.39 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $5.39 |
Options Outstanding, Number Outstanding | 160,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 5 months 15 days |
Options Exercisable, Number Exercisable | 80,000 |
Options Exercisable, Weighted Average Remaining Contractual Life | '9 years 5 months 15 days |
$5.44 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $5.44 |
Options Outstanding, Number Outstanding | 2,059 |
Options Outstanding, Weighted Average Remaining Contractual Life | '4 years 9 months 7 days |
Options Exercisable, Number Exercisable | 2,059 |
Options Exercisable, Weighted Average Remaining Contractual Life | '4 years 9 months 7 days |
$6.74 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $6.74 |
Options Outstanding, Number Outstanding | 79,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | '6 years 7 months 9 days |
Options Exercisable, Number Exercisable | 66,763 |
Options Exercisable, Weighted Average Remaining Contractual Life | '6 years 7 months 9 days |
$7.53 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $7.53 |
Options Outstanding, Number Outstanding | 37,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | '7 years 5 months 8 days |
Options Exercisable, Number Exercisable | 37,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | '7 years 5 months 8 days |
$7.97 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $7.97 |
Options Outstanding, Number Outstanding | 20,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '7 years 3 months 18 days |
Options Exercisable, Number Exercisable | 12,500 |
Options Exercisable, Weighted Average Remaining Contractual Life | '7 years 3 months 18 days |
$8.47 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $8.47 |
Options Outstanding, Number Outstanding | 43,059 |
Options Outstanding, Weighted Average Remaining Contractual Life | '7 years 0 months 29 days |
Options Exercisable, Number Exercisable | 30,455 |
Options Exercisable, Weighted Average Remaining Contractual Life | '6 years 10 months 17 days |
$11.00 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $11 |
Options Outstanding, Number Outstanding | 50,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '6 years 3 months 25 days |
Options Exercisable, Number Exercisable | 43,748 |
Options Exercisable, Weighted Average Remaining Contractual Life | '6 years 3 months 25 days |
$11.15 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $11.15 |
Options Outstanding, Number Outstanding | 302,650 |
Options Outstanding, Weighted Average Remaining Contractual Life | '6 years 10 months 2 days |
Options Exercisable, Number Exercisable | 233,287 |
Options Exercisable, Weighted Average Remaining Contractual Life | '6 years 10 months 2 days |
$11.91 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise Price (in dollars per share) | $11.91 |
Options Outstanding, Number Outstanding | 8,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | '6 years 11 months 1 day |
Options Exercisable, Number Exercisable | 6,166 |
Options Exercisable, Weighted Average Remaining Contractual Life | '6 years 11 months 1 day |
Stock_Incentive_Plans_Addition1
Stock Incentive Plans - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 29, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2013 | Jan. 02, 2014 | Dec. 31, 2010 |
Employee Stock Option | Directors Option Plan | Stock Options | Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs) | Plans | 2010 Equity Incentive Plan | 2010 Equity Incentive Plan | 2010 Equity Incentive Plan | 2010 Equity Incentive Plan | |||
Employee Stock Option | Subsequent event | Maximum | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period | ' | ' | '4 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual term | '5 years 5 months 12 days | ' | '10 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of shares the company is authorized to grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,310 | ' | ' |
Total unrecognized compensation cost related to outstanding stock option awards | $6,958 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized compensation cost related to outstanding stock option awards, recognition period | ' | ' | ' | ' | '3 years 1 month 0 days | ' | ' | ' | ' | ' | ' | ' |
Total fair value of shares vested during period | 2,416 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total estimated fair value of options granted | 5,618 | 4,065 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total estimated intrinsic value of options exercised | 79 | 22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unvested options that experienced accelerated vesting, shares | ' | ' | ' | ' | ' | ' | ' | 79,380 | ' | ' | ' | ' |
Unvested options that experienced accelerated vesting | ' | ' | ' | ' | ' | ' | ' | 196 | ' | ' | ' | ' |
Additional shares that became available for future issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,264,440 | 2,000,000 |
Percentage of outstanding common stock, maximum | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' |
Restricted Stock Units (RSUs), to executive officers and employees (in shares) | ' | ' | ' | ' | ' | 85,447 | ' | ' | ' | ' | ' | ' |
Restricted stock units grant date fair value (in dollars per share) | ' | ' | ' | ' | ' | $1.70 | ' | ' | ' | ' | ' | ' |
Compensation expense in connection to Company's RSUs | ' | ' | ' | ' | ' | ' | $145 | ' | ' | ' | ' | ' |
Common_Stock_Warrants_Addition
Common Stock Warrants - Additional Information (Detail) (USD $) | 1 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||
31-May-13 | Oct. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | 31-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Silicon Valley Bank (SVB) | Minimum | Minimum | Maximum | Maximum | |||||||
Alimera Sciences, Inc.(Company) | |||||||||||
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase common stock issued and outstanding (in shares) | ' | ' | 109,772 | 82,568 | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase common, exercise prices (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $2.86 | $2.86 | $11 | $11 |
Warrants, exercisable period from issuance date | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' |
Warrants to purchase Company's common stock, granted during period (in shares) | 31,818 | ' | ' | ' | ' | 39,773 | 31,818 | ' | ' | ' | ' |
Warrants held by lender subject to becoming exercisable on company drawing debt (in shares) | 15,909 | ' | ' | ' | 69,999 | ' | ' | ' | ' | ' | ' |
Increase of term loan | ' | $11,000,000 | ' | ' | ' | ' | $11,000,000 | ' | ' | ' | ' |
Remaining term loan maximum availability | $11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price on warrants (in dollars per share) | 2.86 | ' | ' | ' | ' | ' | 2.86 | ' | ' | ' | ' |
Number of shares called by warrants, remaining period | '7 years 4 months 24 days | ' | ' | ' | ' | ' | '7 years 4 months 24 days | ' | ' | ' | ' |
Concentration_and_Credit_Risk_
Concentration and Credit Risk - Additional Information (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
customer | customer | |
Concentration Risk [Line Items] | ' | ' |
Accounts receivable | 500 | 0 |
Accounts receivable | Customer concentration risk | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, number of customers | 2 | ' |
Accounts receivable | 314 | ' |
Revenue | Customer concentration risk | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, number of customers | 2 | ' |
Concentration risk percentage | 23.00% | ' |
Purchases | Supplier concentration risk | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk percentage | 42.00% | 42.00% |
Concentration risk, number of vendors | 2 | 2 |
Income_Taxes_Components_of_Net
Income Taxes - Components of Net Loss before Taxes (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
United States | ($29,303) | ($19,746) |
Foreign | -16,926 | 0 |
Loss before provision for income taxes | ($46,229) | ($19,746) |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Tax Benefit (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred benefit (expense): | ' | ' |
Federal | ($18,565) | $7,543 |
State | -2,162 | 879 |
Foreign | 3,160 | 0 |
Deferred benefit (expense) | -17,567 | 8,422 |
Valuation allowance | 17,567 | -8,422 |
Income tax benefit (expense) | $0 | $0 |
Income_Taxes_Net_Deferred_Tax_
Income Taxes - Net Deferred Tax Assets (Liabilities) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets (current and non-current) | ' | ' |
Depreciation and amortization | $34 | $116 |
Other deferred tax assets | 1,906 | 1,257 |
NOL carry-forwards | 33,454 | 53,121 |
Research and development costs | 6,142 | 7,116 |
Collaboration agreement receivable reserves | 4,638 | 2,113 |
Valuation allowance | -46,156 | -63,723 |
Total deferred tax assets | 18 | 0 |
Deferred tax liabilities (current and non-current) | ' | ' |
Unrealized foreign currency gains | -18 | 0 |
Other deferred tax liabilities | 0 | 0 |
Total deferred tax liabilities | -18 | 0 |
Net deferred tax assets and deferred tax liabilities (current and non-current) | 0 | 0 |
Deferred Tax Liabilities, Net, Classification [Abstract] | ' | ' |
Current deferred tax liability | -18 | 0 |
Deferred Tax Assets, Net, Classification [Abstract] | ' | ' |
Non-current deferred tax asset | $18 | $0 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Income Tax Benefit to Amount Determined by Applying U.S. Federal Statutory Income Tax Rate (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Amount | ' | ' |
Federal tax benefit at statutory rate | ($15,718) | ($6,713) |
State tax — net of federal benefit | -1,160 | -782 |
Permanent items and other | 31,851 | -927 |
Foreign rate differential | 2,594 | 0 |
Change in valuation allowance | -17,567 | 8,422 |
Total tax benefit (expense) | $0 | $0 |
Percent | ' | ' |
Federal tax benefit at statutory rate | 34.00% | 34.00% |
State tax — net of federal benefit | 2.50% | 4.00% |
Permanent items and other | -68.90% | 4.70% |
Foreign rate differential | -5.60% | 0.00% |
Change in valuation allowance | 38.00% | -42.70% |
Total tax benefit (expense) | 0.00% | 0.00% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Line Items] | ' | ' |
Amount of net operating loss that could not be utilized in the future due to changes in company ownership | ($13,700) | ' |
Cumulative book losses in foreign subsidiaries | -16,926 | 0 |
Netherlands | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carry-forwards | 3,800 | ' |
United Kingdom | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carry-forwards | 13,200 | ' |
Federal NOL | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carry-forwards | 82,380 | 142,580 |
State NOL | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carry-forwards | $65,840 | $126,050 |
Fair_Value_Assets_Measured_at_
Fair Value - Assets Measured at Fair Value on Recurring Basis (Detail) (Recurring basis, USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ||
Cash equivalents | $6,944 | [1] | $48,943 | [1] |
Assets measured at fair value | 6,944 | 48,943 | ||
Liabilities: | ' | ' | ||
Derivative warrant liability (2) | 16,381 | [2] | 4,418 | [2] |
Liabilities measured at fair value | 16,381 | 4,418 | ||
Level 1 | ' | ' | ||
Assets: | ' | ' | ||
Cash equivalents | 6,944 | [1] | 48,943 | [1] |
Assets measured at fair value | 6,944 | 48,943 | ||
Liabilities: | ' | ' | ||
Derivative warrant liability (2) | 0 | [2] | 0 | [2] |
Liabilities measured at fair value | 0 | 0 | ||
Level 2 | ' | ' | ||
Assets: | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Assets measured at fair value | 0 | 0 | ||
Liabilities: | ' | ' | ||
Derivative warrant liability (2) | 16,381 | [2] | 4,418 | [2] |
Liabilities measured at fair value | 16,381 | 4,418 | ||
Level 3 | ' | ' | ||
Assets: | ' | ' | ||
Cash equivalents | 0 | [1] | 0 | [1] |
Assets measured at fair value | 0 | 0 | ||
Liabilities: | ' | ' | ||
Derivative warrant liability (2) | 0 | [2] | 0 | [2] |
Liabilities measured at fair value | $0 | $0 | ||
[1] | The carrying amounts approximate fair value due to the short-term maturities of the cash equivalents. | |||
[2] | The Company uses the Black-Scholes option pricing model and assumptions that consider, among other variables, the fair value of the underlying stock, risk-free interest rate, volatility, expected life and dividend rates in estimating fair value for the warrants considered to be derivative instruments. Assumptions used are generally consistent with those disclosed for stock based compensation (see Note 11). |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Jan. 02, 2013 | Apr. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 02, 2014 | |
Employee stock purchase plan | Employee stock purchase plan | Employee stock purchase plan | Employee stock purchase plan | Employee stock purchase plan | |||
period | Subsequent event | ||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Compensation expense associated with the Company's matching plan | $95,000 | $66,000 | ' | ' | ' | ' | ' |
Annual discretionary profit-sharing contribution | 0 | 0 | ' | ' | ' | ' | ' |
Purchase price of stock under ESPP as a percentage of fair market value of common stock | ' | ' | ' | 85.00% | 85.00% | ' | ' |
Employee stock purchase plan, number of purchase periods | ' | ' | ' | 2 | ' | ' | ' |
Employee stock purchase plan, purchase period | ' | ' | ' | '6 months | ' | ' | ' |
Percentage of eligible compensation that may be contributed towards ESPP | ' | ' | ' | 15.00% | ' | ' | ' |
Maximum number of shares of common stock a participant may purchase per purchase period | ' | ' | ' | 2,500 | ' | ' | ' |
Maximum value of shares of common stock a participant may purchase in any calendar year | ' | ' | ' | 25,000 | ' | ' | ' |
Common stock, available for sale under employee stock purchase plan | ' | ' | ' | ' | 494,422 | ' | ' |
Common shares acquired through employee stock purchase plan | ' | ' | ' | ' | 26,123 | 15,984 | ' |
Additional shares that became available for future issuance under the Purchase Plan | ' | ' | 15,984 | ' | ' | ' | 26,123 |
Compensation expense recorded in connection with the Purchase Plan | ' | ' | ' | ' | $21,000 | $34,000 | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 | Jan. 31, 2014 |
Subsequent event | Subsequent event | |||
Issuance of equity | Issuance of equity | |||
Private placement | Private placement | |||
Common Stock | ||||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Issuance of stock (in shares) | ' | ' | ' | 6,250,000 |
Proceeds from sale of common stock | $53 | $38 | $37,500 | ' |
Share purchase price of shares issued (in dollars per share) | ' | ' | ' | $6 |