Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended |
Jun. 30, 2013 | |
Document And Entity Information [Abstract] | |
Document Type | S-1 |
Amendment Flag | FALSE |
Document Period End Date | 30-Jun-13 |
Trading Symbol | CGIX |
Entity Registrant Name | CANCER GENETICS, INC |
Entity Central Index Key | 1349929 |
Entity Filer Category | Smaller Reporting Company |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CURRENT ASSETS | |||
Cash and cash equivalents | $1,940,808 | $819,906 | $2,417,256 |
Accounts receivable, net of allowance for doubtful accounts | 1,263,241 | 850,545 | 688,980 |
Other current assets | 708,914 | 489,278 | 269,269 |
Total current assets | 3,912,963 | 2,159,729 | 3,375,505 |
FIXED ASSETS, net of accumulated depreciation | 856,433 | 964,923 | 1,140,636 |
OTHER ASSETS | |||
Security deposits | 1,564 | 1,564 | 1,564 |
Restricted cash | 300,000 | 250,000 | 200,000 |
Loan guarantee and financing fees, net of accumulated amortization | 892,855 | 1,907,502 | 497,798 |
Patents | 348,828 | 324,764 | 204,687 |
Deferred initial public offering costs | 142,941 | 3,343,289 | 1,611,273 |
Total other assets | 1,686,188 | 5,827,119 | 2,515,322 |
Total Assets | 6,455,584 | 8,951,771 | 7,031,463 |
CURRENT LIABILITIES | |||
Accounts payable and accrued expenses | 2,743,141 | 4,578,761 | 4,317,121 |
Obligations under capital leases, current portion | 16,211 | 17,158 | 36,209 |
Deferred revenue | 318,781 | 468,010 | |
Notes Payable, Current Portion | 1,564,014 | 3,836,567 | 100,000 |
Line of credit | 7,996,500 | 2,871,200 | |
Total current liabilities | 12,638,647 | 11,771,696 | 4,453,330 |
Obligations under capital leases | 7,490 | 24,559 | |
Deferred rent payable | 167,543 | 164,298 | 156,311 |
Notes Payable, Long-Term | 2,440,683 | 1,912,365 | |
Line of credit | 6,000,000 | 8,437,255 | |
Warrant liability | 518,000 | 12,549,000 | 11,113,000 |
Total liabilities | 13,324,190 | 32,933,167 | 26,096,820 |
STOCKHOLDERS' DEFICIT | |||
Common stock, value | 432 | 135 | 130 |
Additional paid-in capital | 48,864,777 | 24,970,255 | 23,220,672 |
Treasury stock | -17,442 | -17,442 | |
Accumulated deficit | -55,733,815 | -48,934,585 | -42,268,958 |
Total Stockholders' Deficit | -6,868,606 | -23,981,396 | -19,065,357 |
Total Liabilities and Stockholders' Deficit | 6,455,584 | 8,951,771 | 7,031,463 |
Series A Preferred Stock [Member] | |||
STOCKHOLDERS' DEFICIT | |||
Preferred Stock, value | 59 | 59 | |
Series B Preferred Stock [Member] | |||
STOCKHOLDERS' DEFICIT | |||
Preferred Stock, value | $182 | $182 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts receivable, allowance for doubtful accounts receivables | $36,000 | $36,000 | $24,050 |
Loan guarantee and financing fees, accumulated amortization | 996,145 | 929,498 | 333,202 |
Preferred stock, shares authorized | 9,764,000 | ||
Common stock, shares authorized | 100,000,000 | 24,000,000 | 24,000,000 |
Common stock, par value | $0.00 | $0.00 | $0.00 |
Common stock, shares issued | 4,316,691 | 1,349,936 | 1,295,026 |
Common stock, shares outstanding | 4,316,691 | 1,349,936 | 1,295,026 |
Series A Preferred Stock [Member] | |||
Preferred stock, shares authorized | 588,000 | 588,000 | 588,000 |
Preferred stock, par value | $0.00 | $0.00 | $0.00 |
Preferred Stock, purchase price liquidation preference | 4,971,866 | 4,971,866 | |
Preferred stock, shares issued | 587,691 | 587,691 | 587,691 |
Preferred stock, shares outstanding | 587,691 | 587,691 | 587,691 |
Series B Preferred Stock [Member] | |||
Preferred stock, shares authorized | 2,000,000 | 2,000,000 | 2,000,000 |
Preferred stock, par value | $0.00 | $0.00 | $0.00 |
Preferred Stock, purchase price liquidation preference | $9,108,000 | $9,108,000 | |
Preferred stock, shares issued | 1,821,600 | 1,821,600 | 1,821,600 |
Preferred stock, shares outstanding | 1,821,600 | 1,821,600 | 1,821,600 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Income Statement [Abstract] | |||||||
Revenue | $1,831,649 | $1,148,475 | $3,050,316 | $1,983,227 | $4,301,563 | $3,019,407 | $2,521,579 |
Cost of revenues | 1,279,274 | 1,085,633 | 2,349,294 | 1,908,685 | 3,928,993 | 3,117,411 | 3,516,189 |
Gross profit | 552,375 | 62,842 | 701,022 | 74,542 | 372,570 | -98,004 | -994,610 |
Operating expenses: | |||||||
Research and development | 455,570 | 526,730 | 950,597 | 1,050,241 | 2,111,947 | 2,073,661 | 1,166,553 |
General and administrative | 1,384,123 | 1,393,495 | 2,961,374 | 2,329,652 | 4,502,424 | 4,439,170 | 3,445,998 |
Sales and marketing | 446,468 | 376,281 | 831,955 | 715,849 | 1,398,786 | 1,574,088 | 715,966 |
Total operating expenses | 2,286,161 | 2,296,506 | 4,743,926 | 4,095,742 | 8,013,157 | 8,086,919 | 5,328,517 |
Loss from operations | -1,733,786 | -2,233,664 | -4,042,904 | -4,021,200 | -7,640,587 | -8,184,923 | -6,323,127 |
Other (expense) income: | |||||||
Interest expense | -389,319 | -1,082,797 | -1,683,308 | -1,947,778 | -4,701,028 | -1,314,234 | -792,415 |
Interest income | 744 | 1,354 | 117 | 763 | |||
Debt conversion costs | -6,849,830 | -6,849,830 | |||||
Change in fair value of warrant liability | -170,000 | 1,456,000 | 5,129,000 | 3,036,000 | 7,538,000 | -10,388,000 | -2,026,000 |
Loss on debt and warrant restructuring | -1,862,012 | ||||||
Qualifying Therapeutic Discovery Project Grant | 733,438 | ||||||
Total other (expense) income | -7,408,405 | 373,203 | -3,402,784 | 1,088,222 | 974,960 | -11,702,117 | -2,084,214 |
Loss before income taxes | -9,142,191 | -1,860,461 | -7,445,688 | -2,932,978 | -6,665,627 | -19,887,040 | -8,407,341 |
Income tax provision (benefit) | -663,900 | -663,900 | |||||
Net income (loss) | ($9,142,191) | ($1,860,461) | ($6,781,788) | ($2,932,978) | ($6,665,627) | ($19,887,040) | ($8,407,341) |
Basic net income (loss) per share | ($2.29) | ($1.38) | ($2.54) | ($2.19) | ($4.97) | ($15.61) | ($6.71) |
Diluted net loss per share | ($2.29) | ($2.32) | ($4.46) | ($4.20) | ($10.55) | ($15.61) | ($6.71) |
Basic Weighted Average Shares Outstanding | 3,985,663 | 1,346,124 | 2,667,799 | 1,337,702 | 1,342,174 | 1,274,153 | 1,253,231 |
Diluted Weighted Average Shares Outstanding | 3,985,663 | 1,429,735 | 2,667,799 | 1,421,313 | 1,346,161 | 1,274,153 | 1,253,231 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (USD $) | Total | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Deficit [Member] |
Balance at Dec. 31, 2009 | ($6,710,730) | $59 | $123 | $7,281,107 | ($17,442) | ($13,974,577) | |
Balance (in shares) at Dec. 31, 2009 | 587,691 | 1,231,280 | |||||
Shareholders Equity [Line Items] | |||||||
Sale of series B Preferred Stock, net of stock issuance costs | 7,903,163 | 182 | 7,902,981 | ||||
Sale of series B Preferred Stock, net of stock issuance costs (in shares) | 1,821,600 | ||||||
Stock based compensation-employees | 344,275 | 344,275 | |||||
Stock based compensation-non-employees | 90,600 | 2,000 | 90,600 | ||||
Exercise of options | 43,600 | 4 | 43,596 | ||||
Exercise of options (in shares) | 45,400 | 38,200 | |||||
Net loss | -8,407,341 | -8,407,341 | |||||
Balance at Dec. 31, 2010 | -6,736,433 | 59 | 182 | 127 | 15,662,559 | -17,442 | -22,381,918 |
Balance (in shares) at Dec. 31, 2010 | 587,691 | 1,821,600 | 1,271,480 | ||||
Shareholders Equity [Line Items] | |||||||
Stock based compensation-employees | 306,307 | 306,307 | |||||
Stock based compensation-non-employees | 636,810 | 636,810 | |||||
Exercise of warrants | 49,999 | 1 | 49,998 | ||||
Exercise of warrants (in shares) | 3,546 | ||||||
Warrant liability reclassified to equity | 6,415,000 | 6,415,000 | |||||
Issuance of common stock | 150,000 | 2 | 149,998 | ||||
Issuance of common stock (in shares) | 20,000 | ||||||
Net loss | -19,887,040 | -19,887,040 | |||||
Balance at Dec. 31, 2011 | -19,065,357 | 59 | 182 | 130 | 23,220,672 | -17,442 | -42,268,958 |
Balance (in shares) at Dec. 31, 2011 | 587,691 | 1,821,600 | 1,295,026 | ||||
Shareholders Equity [Line Items] | |||||||
Stock based compensation-employees | 341,996 | 341,996 | |||||
Stock based compensation-non-employees | 573,365 | 573,365 | |||||
Warrant extension | 144,000 | 144,000 | |||||
Exercise of warrants | 690,227 | 5 | 690,222 | ||||
Exercise of warrants (in shares) | 54,910 | ||||||
Net loss | -6,665,627 | -6,665,627 | |||||
Balance at Dec. 31, 2012 | -23,981,396 | 59 | 182 | 135 | 24,970,255 | -17,442 | -48,934,585 |
Balance (in shares) at Dec. 31, 2012 | 587,691 | 1,821,600 | 1,349,936 | ||||
Shareholders Equity [Line Items] | |||||||
Stock based compensation-employees | 215,219 | 215,219 | |||||
Stock based compensation-non-employees | 54,650 | 54,650 | |||||
Conversion of preferred stock into common stock | -59 | -182 | 129 | 112 | |||
Conversion of preferred stock into common stock (in shares) | -587,691 | -1,821,600 | 1,287,325 | ||||
Conversion of debt into common stock | 12,596,066 | 96 | 12,595,970 | ||||
Conversion of preferred stock into common stock (in shares) | 963,430 | ||||||
Issuance of common stock in IPO, net of offering costs | 3,742,643 | 69 | 3,742,574 | ||||
Issuance of common stock in IPO, net of offering costs (in shares) | 690,000 | ||||||
Issuance of common stock pursuant to license agreement | 20,000 | 20,000 | |||||
Issuance of common stock pursuant to license agreement (in shares) | 2,000 | ||||||
Reclassification of derivative warrants | 7,170,000 | 7,170,000 | |||||
Exercise of warrants | 96,000 | 3 | 95,997 | ||||
Exercise of warrants (in shares) | 24,000 | ||||||
Retirement of treasury stock | 17,442 | -17,442 | |||||
Net loss | -6,781,788 | -6,781,788 | |||||
Balance at Jun. 30, 2013 | ($6,868,606) | $432 | $48,864,777 | ($55,733,815) | |||
Balance (in shares) at Jun. 30, 2013 | 4,316,691 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Net (loss) | ($6,781,788) | ($2,932,978) | ($6,665,627) | ($19,887,040) | ($8,407,341) |
Adjustments to reconcile net (loss) to net cash used in operating activities: | |||||
Depreciation | 151,066 | 173,496 | 338,176 | 356,603 | 317,095 |
Amortization | 7,615 | 7,614 | 15,229 | 13,048 | 9,723 |
Provision (recovery) for bad debts | -4,543 | -4,597 | 372,680 | 46,356 | |
Equity-based consulting and compensation expenses | 215,219 | 564,684 | 915,361 | 1,093,117 | 476,875 |
Extension of warrants | 144,000 | ||||
Equity-based research and development expenses | 74,650 | ||||
Derivative warrants issued for consulting services | 69,000 | 65,000 | |||
Deferred taxes | |||||
Change in fair value of warrant liability | -5,129,000 | -3,036,000 | -7,538,000 | 10,388,000 | 2,026,000 |
Amortization of loan guarantee and financing fees | 612,605 | 547,381 | 1,427,296 | 575,285 | 527,584 |
Accretion of discount on debt | 581,193 | 928,463 | 2,212,154 | 480,620 | |
Loss on debt and warrant restructuring | 1,862,012 | ||||
Deferred rent | 3,245 | 4,741 | 7,987 | 25,922 | 42,363 |
Deferred initial public offering costs expensed | 617,706 | ||||
Write-off of debt conversion costs | 6,849,830 | ||||
Change in working capital components: | |||||
Accounts receivable | -412,696 | -43,211 | -156,968 | -355,816 | -570,162 |
Other current assets | -219,636 | -205,525 | -220,009 | 551,738 | -710,643 |
Accounts payable, accrued expenses and deferred revenue | -335,837 | -105,807 | 85,134 | 1,243,594 | 446,603 |
Net cash (used in) operating activities | -3,765,828 | -4,101,685 | -7,577,852 | -5,073,249 | -5,730,547 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||||
Purchase of fixed assets | -42,576 | -27,333 | -162,463 | -268,632 | -161,201 |
Patent costs | -31,679 | -149,000 | -135,306 | -82,872 | -18,407 |
(Increase) decrease in restricted cash | -50,000 | -50,000 | -50,000 | 238,400 | 11,600 |
Net cash (used in) investing activities | -124,255 | -226,333 | -347,769 | -113,104 | -168,008 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||||
Principal payments on capital lease obligations | -8,437 | -21,474 | -36,120 | -42,708 | -79,848 |
Proceeds from issuance of preferred stock | 9,108,000 | ||||
Proceeds from initial public offering of common stock, net of offering costs | 5,054,514 | ||||
Payment of equity issuance costs | -92,941 | -1,286,199 | -1,373,000 | -182,933 | -826,837 |
Proceeds from option exercises | 1,600 | ||||
Proceeds from warrant exercises | 96,000 | 619,980 | 635,227 | 49,999 | |
Proceeds from borrowings on notes payable | 3,000,000 | 7,120,000 | 3,000,000 | ||
Proceeds from borrowings on line of credit | 3,200,000 | 590,000 | |||
Payments on line of credit | -200,000 | -1,000,000 | |||
Principal payments on notes payable | -38,151 | -17,836 | -145,000 | ||
Net cash provided by (used in) financing activities | 5,010,985 | 2,312,307 | 6,328,271 | 5,824,358 | 7,647,915 |
Net increase (decrease) in cash and cash equivalents | 1,120,902 | -2,015,711 | -1,597,350 | 638,005 | 1,749,360 |
CASH AND CASH EQUIVALENTS | |||||
Beginning | 819,906 | 2,417,256 | 2,417,256 | 1,779,251 | 29,891 |
Ending | 1,940,808 | 401,545 | 819,906 | 2,417,256 | 1,779,251 |
SUPPLEMENTAL CASH FLOW DISCLOSURE | |||||
Cash paid for interest | 489,509 | 484,936 | 1,091,377 | 253,996 | 274,356 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES | |||||
Fixed assets acquired through capital lease arrangement | 49,600 | ||||
Warrants issued with debt | 940,000 | 6,122,000 | 1,970,000 | ||
Warrants issued for debt guarantee fee | 755,000 | 1,583,000 | 831,000 | 415,000 | |
Warrants issued for financing fees | 47,000 | 601,000 | 1,003,000 | ||
Warrants issued for equity issuance costs | 328,000 | ||||
Warrant liability reclassified to equity | 6,415,000 | ||||
Accrued IPO costs | 50,000 | 1,140,626 | 1,732,016 | 1,428,340 | |
Accrued expenses recorded as financing fees | 274,000 | 251,000 | |||
Offering costs discounted | 733,250 | ||||
Accrued expenses recorded as a discount on debt | 161,000 | ||||
Accrued expenses reclassified as derivative warrant liability | 221,000 | 148,000 | 148,000 | ||
Derivative warrant settled with accrued expense | 182,500 | ||||
Retirement of treasury stock | 17,442 | ||||
Conversion of notes payable, lines of credit and accrued interest to common stock | 9,364,300 | ||||
Conversion of preferred stock to common stock | 241 | ||||
Reclassification of derivative warrants | 7,170,000 | ||||
Reclassification of deferred offering costs to additional paid-in capital | $1,992,333 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parenthetical) (USD $) | 12 Months Ended |
Dec. 31, 2010 | |
Statement Of Stockholders Equity [Abstract] | |
Sale of series B Preferred Stock, stock issuance costs | $1,183,751 |
Organization_Description_of_Bu
Organization, Description of Business, Reverse Stock Split and Charter Amendment | 6 Months Ended | 12 Months Ended |
Jun. 30, 2013 | Dec. 31, 2012 | |
Accounting Policies [Abstract] | ||
Organization, Description of Business, Reverse Stock Split and Charter Amendment | Note 1. Organization, Description of Business, Reverse Stock Splits and Initial Public Offering | Note 1. Organization, Description of Business, Reverse Stock Split and Charter Amendment |
We were incorporated in the State of Delaware on April 8, 1999 and have offices and a laboratory located in Rutherford, New Jersey. Our wholly owned subsidiary, Cancer Genetics Italia SRL (“CGI Italia”), manages the manufacturing and manufactures DNA probes. CGI Italia had approximately $311,000 and $329,000 in total assets at June 30, 2013 and December 31, 2012, respectively, and approximately $48,000 and $21,000 in total revenue for the three months ended June 30, 2013 and 2012, and approximately $92,000 and $36,000 in total revenue for the six months ended June 30, 2013 and 2012 respectively. | We were incorporated in the State of Delaware on April 8, 1999 and have offices and a laboratory located in Rutherford, New Jersey. Our wholly owned subsidiary, Cancer Genetics Italia SRL (“CGI Italia”), manufactures DNA probes. CGI Italia had approximately $329,000 and $236,000 in total assets at December 31, 2012 and 2011, respectively and approximately $91,000, $103,000 and $28,000 in total revenue for the years ended December 31, 2012, 2011 and 2010, respectively. | |
We are a diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer (theranosis). Our proprietary tests target cancers where prognosis information is critical and where predicting treatment outcomes using currently available techniques is limited. These cancers include hematological, urogenital and HPV-associated cancers. We have commercially launched MatBA® -CLL, -SLL, DLBCL and UroGenRA kidney as lab developed tests in the United States, and seek to provide our tests and services to oncologists and pathologists at hospitals, cancer centers and physician offices, as well as to biopharmaceutical companies and clinical research organizations for their clinical trials. | We are a diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer (theranosis). Our proprietary tests target cancers where prognosis information is critical and where predicting treatment outcomes using currently available techniques is limited. These cancers include hematological, urogenital and HPV-associated cancers. We have commercially launched MatBA® -CLL and -SLL, our first proprietary microarray diagnostic tests, and seek to provide our tests and services to oncologists and pathologists at hospitals, cancer centers and physician offices, as well as to biopharmaceutical companies and clinical research organizations for their clinical trials. | |
Reverse Stock Splits | On November 27, 2012, our Board of Directors and stockholders approved a charter amendment that reduces the threshold for automatic conversion of our Series A preferred stock, our Series A-1 preferred stock and our Series B preferred stock from $25.0 million to $15.0 million upon the closing of an initial public offering (“IPO”) pursuant to an effective registration statement. If we receive gross proceeds of at least $15.0 million in an IPO, each outstanding share of our Series A preferred stock will automatically convert into 0.6 shares of common stock and each outstanding share of our Series A-1 and our Series B preferred stock will automatically convert into 0.2 shares of common stock, subject to adjustment depending upon various factors, including the price per share in an IPO. | |
On February 8, 2013, we filed a charter amendment with the Secretary of State for the State of Delaware and effected a 1-for-2 reverse stock split of our common stock. On March 1, 2013, we filed another charter amendment with the Secretary of State for the State of Delaware and effected a 1-for-2.5 reverse stock split of our common stock. All shares and per share information referenced throughout the consolidated financial statements have been retroactively adjusted to reflect both reverse stock splits. | On February 8, 2013, we filed a charter amendment with the Secretary of State for the State of Delaware and effected a 1-for-2 reverse stock split of our common stock. On March 1, 2013, we filed another charter amendment with the Secretary of State for the State of Delaware and effected a 1-for-2.5 reverse stock split of our common stock. All shares and per share information referenced throughout the consolidated financial statements have been retroactively adjusted to reflect both reverse stock splits. | |
Initial Public Offering | ||
On April 10, 2013, we sold 690,000 shares of common stock at a public offering price of $10.00 per share and completed our initial public offering (“IPO”) with gross proceeds of $6.9 million (net proceeds of $5 million). Upon the closing of the IPO, all shares of our then-outstanding Series A and Series B convertible preferred stock automatically converted into an aggregate of 1,287,325 shares of common stock. Concurrent with the IPO, certain derivative warrants with a fair value of $7.2 million were reclassified into equity due to the lapsing of anti-dilution provisions in the warrants. Also concurrent with the IPO, $9.6 million of debt converted into 963,430 shares of common stock. All references to our Series A convertible preferred stock in this quarterly report on Form 10-Q refer collectively to the Series A and Series A-1 convertible preferred shares. |
Significant_Accounting_Policie
Significant Accounting Policies | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||
Significant Accounting Policies | Note 2. Significant Accounting Policies | Note 2. Significant Accounting Policies | ||||||||||||||||||||||||||||
Basis of presentation: The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions for interim reporting as they are prescribed by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2012 that are included in our prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on April 5, 2013 (Prospectus). The consolidated balance sheet as of December 31, 2012, included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP. Interim financial results are not necessarily indicative of the results that may be expected for future interim periods or for the year ending December 31, 2013. | Basis of presentation: We prepare our financial statements on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Revenues are recognized in the period in which they are earned. Expenses are recognized in the period in which the related liability is incurred. | |||||||||||||||||||||||||||||
Liquidity/Going Concern: Our primary sources of liquidity have been funds generated from debt financing, the sale of shares of common and preferred stock, grants in lieu of federal income tax credits, National Institute of Health grants and sales of state NOL carryforwards. We intend to attempt to raise additional financing in the third quarter of 2013, which might not be available on favorable terms, if at all. On June 5, 2013, we filed a registration statement on Form S-1 for a proposed public offering of $15.0 million of our common stock. We can provide no assurances that we will be able sell shares of our common stock in this offering on favorable terms or at all. We can provide no assurances that any additional sources of financing will be available to us on favorable terms, if at all. If we are unable to secure additional financings we would scale back our general and administrative activities and certain of our research and development activities. | Segment Reporting: Operating segments are defined as components of an enterprise about which separate discrete information is used by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. We view our operations and manage our business in one operating segment, which is the business of developing and selling diagnostic tests. | |||||||||||||||||||||||||||||
We believe our current cash resources will be sufficient to satisfy our liquidity requirements at our current level of operations only through August 31, 2013 and then only if we are able to extend the payment of $3.5 million in outstanding indebtedness that matures on August 15, 2013. We need to raise additional financing in the near term, through this offering or otherwise, to repay certain indebtedness and fund our current level of operations. Even if further extensions are obtained, we anticipate that we will need to secure additional financing to provide sufficient cash for normal operations. | Liquidity/Going Concern: Our primary sources of liquidity have been funds generated from debt financing, the sale of shares of common and preferred stock, grants in lieu of federal income tax credits, National Institute of Health grants and sales of state NOL carryforwards. We believe our current cash resources, including $663,900 received on January 22, 2013 from the sale of certain state NOL carryforwards, are sufficient to satisfy our liquidity requirements at our current level of operations through March 31, 2013. | |||||||||||||||||||||||||||||
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has suffered recurring losses from operations, has negative working capital and a net capital deficiency that 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. Refer to the section entitled “Capital Resources and Expenditure Requirements” in Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Form 10-Q of which these financial statements are a part. | ||||||||||||||||||||||||||||||
Principles of consolidation: The accompanying consolidated financial statements include the accounts of Cancer Genetics, Inc. and our wholly owned subsidiary, Cancer Genetics Italia SRL. All significant intercompany account balances and transactions have been eliminated in consolidation. | The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 18, the Company has suffered recurring losses from operations, has negative working capital and a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 18. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. | |||||||||||||||||||||||||||||
Use of estimates and assumptions: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include, among others, realization of amounts billed, realization of long-lived assets, realization of intangible assets, accruals for registration payments and assumptions used to value stock options and warrants. Actual results could differ from those estimates. | Principles of consolidation: The accompanying consolidated financial statements include the accounts of Cancer Genetics, Inc. and our wholly owned subsidiary, Cancer Genetics Italia SRL. All significant intercompany account balances and transactions have been eliminated in consolidation. | |||||||||||||||||||||||||||||
Risks and uncertainties: We operate in an industry that is subject to intense competition, government regulation and rapid technological change. Our operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory and other risks, including the potential risk of business failure. | Use of estimates and assumptions: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include, among others, realization of amounts billed, realization of long-lived assets, realization of intangible assets, accruals for litigation and registration payments and assumptions used to value stock options and warrants. Actual results could differ from those estimates. | |||||||||||||||||||||||||||||
Cash and cash equivalents: Highly liquid investments with original maturities of three months or less when purchased are considered to be cash equivalents. Financial instruments which potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents. We maintain cash and cash equivalents with high-credit quality financial institutions. At times, such amounts may exceed insured limits. We have not experienced any losses in such accounts and believe we are not exposed to any significant credit risk on our cash and cash equivalents. | Risks and uncertainties: We operate in an industry that is subject to intense competition, government regulation and rapid technological change. Our operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory and other risks, including the potential risk of business failure. | |||||||||||||||||||||||||||||
Revenue recognition: Revenue is recognized in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 605, Revenue Recognition, and ASC 954-605 Health Care Entities, Revenue Recognition which requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence that an arrangement exists; (2) delivery has occurred and title and the risks and rewards of ownership have been transferred to the customer or services have been rendered; (3) the price is fixed or determinable; and (4) collectability is reasonably assured. In determining whether the price is fixed or determinable, we consider payment limits imposed by insurance carriers and Medicare and the amount of revenue recorded takes into account the historical percentage of revenue we have collected for each type of test for each payor category. Periodically, an adjustment is made to revenue to record differences between our anticipated cash receipts from insurance carriers and Medicare and actual receipts from such payors. For the periods presented, such adjustments were not significant. For direct bill customers (including clinical trials customers), revenue is recorded based upon the contractually agreed upon fee schedule. When assessing collectability, we consider whether we have sufficient payment history to reliably estimate a payor’s individual payment patterns. For new tests where there is no evidence of payment history at the time the tests are completed, we only recognize revenues once reimbursement experience can be established. We then recognize revenue equal to the amount of cash received. Sales of probes are recorded on the shipping date. We do not bill customers for shipping and handling fees and do not collect any sales or other taxes. | Cash and cash equivalents: Highly liquid investments with original maturities of three months or less when purchased are considered to be cash equivalents. Financial instruments which potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents. We maintain cash and cash equivalents with high-credit quality financial institutions. At times, such amounts may exceed insured limits. We have not experienced any losses in such accounts and believe we are not exposed to any significant credit risk on our cash and cash equivalents. | |||||||||||||||||||||||||||||
Revenues from grants to support product development are recognized when costs and expenses under the terms of the grant have been incurred and payments under the grants become contractually due. | Revenue recognition: Revenue is recognized in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 605, Revenue Recognition, and ASC 954-605 Health Care Entities, Revenue Recognition which requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence that an arrangement exists; (2) delivery has occurred and title and the risks and rewards of ownership have been transferred to the customer or services have been rendered; (3) the price is fixed or determinable; and (4) collectability is reasonably assured. In determining whether the price is fixed or determinable, we consider payment limits imposed by insurance carriers and Medicare and the amount of revenue recorded takes into account the historical percentage of revenue we have collected for each type of test for each payor category. Periodically, an adjustment is made to revenue to record differences between our anticipated cash receipts from insurance carriers and Medicare and actual receipts from such payors. For the periods presented, such adjustments were not significant. For direct bill customers (including clinical trials customers), revenue is recorded based upon the contractually agreed upon fee schedule. When assessing collectability, we consider whether we have sufficient payment history to reliably estimate a payor’s individual payment patterns. For new tests where there is no evidence of payment history at the time the tests are completed, we only recognize revenues once reimbursement experience can be established. We then recognize revenue equal to the amount of cash received. Sales of probes are recorded on the shipping date. We do not bill customers for shipping and handling fees and do not collect any sales or other taxes. | |||||||||||||||||||||||||||||
Accounts receivable: Accounts receivable are carried at original invoice amount less an estimate for contractual adjustments and doubtful receivables, the amounts of which are determined by an analysis of individual accounts. Our policy for assessing the collectability of receivables is dependent upon the major payor source of the underlying revenue. For direct bill clients, an assessment of credit worthiness is performed prior to initial engagement and is reassessed periodically. If deemed necessary, an allowance is established on receivables from direct bill clients. For insurance carriers where there is not an established pattern of collection, revenue is not recorded until cash is received. For receivables where insurance carriers have made payments to patients instead of directing payments to the Company, an allowance is established for a portion of such receivables. After reasonable collection efforts are exhausted, amounts deemed to be uncollectible are written off against the allowance for doubtful accounts. Since the Company only recognizes revenue to the extent it expects to collect such amounts, bad debt expense related to receivables from patient service revenue is recorded in general and administrative expense in the consolidated statement of operations. Recoveries of accounts receivable previously written off are recorded when received. | ||||||||||||||||||||||||||||||
Deferred Offering costs: Deferred offering costs represent legal, accounting and other direct costs related to our effort to raise capital through a stock offering. Future costs related to our offering activities will be deferred until the completion of the offering, at which time they will be reclassified to additional paid-in capital as a reduction of the offering proceeds. During the six months ended June 30, 2013, $617,706 in deferred offering costs were expensed in connection with our IPO and approximately $2.5 million in deferred offering costs were reclassified to additional paid-in capital. Additionally, $733,250 in deferred offering costs were reduced due to discounts given by vendors associated with that offering and $120,000 was refunded. At June 30, 2013 we had $143,000 in deferred offering costs in connection with the anticipated additional financing referred to above. | Revenues from grants to support product development are recognized when costs and expenses under the terms of the grant have been incurred and payments under the grants become contractually due. In 2010, we were awarded a federal grant in the amount of $733,438 under the Qualifying Therapeutic Discovery Project which funded research targeted at new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions, reduce the long-term growth of health care costs in the U.S. or significantly advance the goal of curing cancer within 30 years. The qualifying expenditures were incurred in 2009 and 2010 and we have presented this grant in other income. | |||||||||||||||||||||||||||||
Accounts receivable: Accounts receivable are carried at original invoice amount less an estimate for contractual adjustments and doubtful receivables, the amounts of which are determined by an analysis of individual accounts. Our policy for assessing the collectability of receivables is dependent upon the major payor source of the underlying revenue. For direct bill clients, an assessment of credit worthiness is performed prior to initial engagement and is reassessed periodically. If deemed necessary, an allowance is established on receivables from direct bill clients. For insurance carriers where there is not an established pattern of collection, revenue is not recorded until cash is received. For receivables where insurance carriers have made payments to patients instead of directing payments to the Company, an allowance is established for a portion of such receivables. After reasonable collection efforts are exhausted, amounts deemed to be uncollectible are written off against the allowance for doubtful accounts. Since the Company only recognizes revenue to the extent it expects to collect such amounts, bad debt expense related to receivables from patient service revenue is recorded in general and administrative expense in the consolidated statement of operations. Recoveries of accounts receivable previously written off are recorded when received. The increase in the allowance from December 31, 2011 to December 31, 2012 was based upon the individual analysis of accounts receivable as described above. | ||||||||||||||||||||||||||||||
Warrant liability: We have issued certain warrants which contain an exercise price adjustment feature in the event we issue additional equity instruments at a price lower than the exercise price of the warrant. The warrants are described herein as derivative warrants. We account for these derivative warrants as liabilities. These common stock purchase warrants do not trade in an active securities market, and as such, we estimate the fair value of these warrants using the binomial lattice valuation pricing model with the assumptions as follows: The risk-free interest rate for periods within the contractual life of the warrant is based on the U.S. Treasury yield curve. The expected life of the warrants is based upon the contractual life of the warrants. Volatility is estimated based on an average of the historical volatilities of the common stock of four entities with characteristics similar to those of the Company. Prior to our IPO, the measurement date fair value of the underlying common shares was based upon an external valuation of our shares. (See Notes 8 and 9). Subsequent to the IPO, we use the closing price of our shares on the OTC Bulletin Board. | Deferred revenue: Payments received in advance of services rendered are recorded as deferred revenue and are subsequently recognized as revenue in the period in which the services are performed. | |||||||||||||||||||||||||||||
We compute the fair value of the warrant liability at each reporting period and the change in the fair value is recorded as non-cash expense or non-cash income. The key component in the value of the warrant liability is our stock price, which is subject to significant fluctuation and is not under our control. The resulting effect on our net income (loss) is therefore subject to significant fluctuation and will continue to be so until the warrants are exercised, amended or expire. Assuming all other fair value inputs remain constant, we will record non-cash expense when the stock price increases and non-cash income when the stock price decreases. | Fixed assets: Fixed assets consist of diagnostic equipment, furniture and fixtures and leasehold improvements. Fixed assets are carried at cost and are depreciated over the estimated useful lives of the assets, which generally range from five to seven years. Leasehold improvements are amortized over the lesser of the lease term or the estimated useful lives of the improvements. The straight-line method is used for depreciation and amortization. Repairs and maintenance are charged to expense as incurred while improvements are capitalized. Upon sale, retirement or disposal of fixed assets, the accounts are relieved of the cost and the related accumulated depreciation or amortization with any gain or loss recorded to the consolidated statement of operations. | |||||||||||||||||||||||||||||
Income taxes: Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for temporary differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income and research and development credits. On January 22, 2013, we sold certain state net operating loss carryforwards. The proceeds of $663,900 are included in our income tax benefit for the six months ended June 30, 2013. | Fixed assets are reviewed for impairment whenever changes in circumstances indicate that the carrying amount of an asset may not be recoverable. These computations utilize judgments and assumptions inherent in our estimate of future cash flows to determine recoverability of these assets. If our assumptions about these assets were to change as a result of events or circumstances, we may be required to record an impairment loss. | |||||||||||||||||||||||||||||
Registration payment arrangements: We account for our obligations under registration payment arrangements in accordance with ASC 825-20, Registration Payment Arrangements. ASC 825-20 requires us to record a liability if we determine a registration payment is probable and if it can reasonably be estimated. As of June 30, 2013 and December 31, 2012, we have an accrued liability of $300,000 and $541,000, respectively, related to registration rights obligations associated with the issuance of Series B preferred stock and certain notes payable. | Loan guarantee fee: Loan guarantee fees are amortized on a straight-line basis over the term of the guarantee. | |||||||||||||||||||||||||||||
Stock-based compensation: Stock-based compensation is accounted for in accordance with the provisions of ASC 718, Compensation-Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. We estimate the fair value of stock-based awards on the date of grant using the Black-Scholes option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods using the straight-line method. See additional information in Note 7. | Deferred IPO costs: Deferred IPO costs represent legal, accounting and other direct costs related to our effort to raise capital through an IPO. Future costs related to our IPO activities will be deferred until the completion of the IPO, at which time they will be reclassified to additional paid-in capital as a reduction of the IPO proceeds. If we terminate our plan for an IPO, any deferred costs would be expensed at that time. | |||||||||||||||||||||||||||||
All issuances of stock options or other issuances of equity instruments to employees as the consideration for services received by us are accounted for based on the fair value of the equity instrument issued. | ||||||||||||||||||||||||||||||
We account for stock-based compensation awards to non-employees in accordance with ASC 505-50, Equity Based Payments to Non-Employees. Under ASC 505-50, we determine the fair value of the warrants or stock-based compensation awards granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Stock-based compensation awards issued to non-employees are recorded in expense and additional paid-in capital in stockholders’ deficit over the applicable service periods based on the fair value of the awards or consideration received at the vesting date. | Warrant liability: We have issued certain warrants which contain an exercise price adjustment feature in the event we issue additional equity instruments at a price lower than the exercise price of the warrant. The warrants are described herein as derivative warrants. We account for these derivative warrants as liabilities. These common stock purchase warrants do not trade in an active securities market, and as such, we estimate the fair value of these warrants using the binomial lattice valuation pricing model with the assumptions as follows: The risk-free interest rate for periods within the contractual life of the warrant is based on the U.S. Treasury yield curve. The expected life of the warrants is based upon the contractual life of the warrants. Volatility is estimated based on an average of the historical volatilities of the common stock of four entities with characteristics similar to those of the Company. The measurement date fair value of the underlying common shares is based upon an external valuation of our shares. (See Notes 12 and 13). | |||||||||||||||||||||||||||||
Subsequent events: We have evaluated potential subsequent events through August 5, 2013, which is the date the financial statements were issued. | We compute the fair value of the warrant liability at each reporting period and the change in the fair value is recorded as non-cash expense or non-cash income. The key component in the value of the warrant liability is our stock price, which is subject to significant fluctuation and is not under our control. The resulting effect on our net loss is therefore subject to significant fluctuation and will continue to be so until the warrants are exercised, amended or expire. Assuming all other fair value inputs remain constant, we will record non-cash expense when the stock price increases and non-cash income when the stock price decreases. | |||||||||||||||||||||||||||||
Earnings (loss) per share: Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares assumed to be outstanding during the period of computation. Diluted earnings per share is computed similar to basic earnings per share except that the numerator is adjusted for the change in fair value of the warrant liability (only if dilutive) and the denominator is increased to include the number of dilutive potential common shares outstanding during the period using the treasury stock method. | Income taxes: Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for temporary differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income and research and development credits. | |||||||||||||||||||||||||||||
Basic net income (loss) and diluted net loss per share data were computed as follows: | Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. We have established a full valuation allowance on our deferred tax assets as of December 31, 2012 and 2011, therefore we have not recognized any tax benefit or expense in the periods presented. | |||||||||||||||||||||||||||||
ASC 740, Income Taxes, clarifies the accounting for uncertainty in income taxes recognized in the financial statements. ASC 740 provides that a tax benefit from uncertain tax positions may be recognized when it is more-likely-than-not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the position. Income tax positions must meet a more-likely-than-not recognition threshold to be recognized. ASC 740 also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. See Note 9 for a discussion of uncertain tax positions. | ||||||||||||||||||||||||||||||
Our policy is to recognize interest and/or penalties related to income tax matters in income tax expense. There is no accrual for interest or penalties on our consolidated balance sheets at December 31, 2012 or 2011, and we have not recognized interest and/or penalties in the consolidated statements of operations for the years ended December 31, 2012, 2011 or 2010. | ||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Patents: We account for intangible assets under ASC 350, Goodwill and Other Intangibles—30 General Intangibles Other than Goodwill. Patents consist of legal fees incurred and are recorded at cost and amortized over the useful lives of the assets, using the straight-line method. Certain patents are in the legal application process and therefore are not currently being amortized. We review the carrying value of patents at the end of each reporting period. Based upon our review, there were no intangible asset impairments in 2012, 2011 or 2010. Accumulated amortization of patents as of December 31, 2012 and 2011 was approximately $41,000 and $24,000, respectively. Future amortization expense for legally approved patents is estimated at $15,200 per year through 2018 and approximately $12,000, $5,500, and $2,800 for 2019, 2020, and 2021, respectively. | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Research and development: Research and development costs associated with service and product development include direct costs of payroll, employee benefits, stock-based compensation and supplies and an allocation of indirect costs including rent, utilities, depreciation and repairs and maintenance. All research and development costs are expensed as they are incurred. | ||||||||||||||||||||||||||
Numerator: | Registration payment arrangements: We account for our obligations under registration payment arrangements in accordance with ASC 825-20, Registration Payment Arrangements. ASC 825-20 requires us to record a liability if we determine a registration payment is probable and if it can reasonably be estimated. As of December 31, 2012 and 2011, we have an accrued liability of $541,000 and $150,000, respectively, related to the issuance of Series B preferred stock and certain notes payable. | |||||||||||||||||||||||||||||
Net income (loss) for basic earnings per share | $ | (9,142,191 | ) | $ | (1,860,461 | ) | $ | (6,781,788 | ) | $ | (2,932,978 | ) | Stock-based compensation: Stock-based compensation is accounted for in accordance with the provisions of ASC 718, Compensation-Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. We estimate the fair value of stock-based awards on the date of grant using the Black-Scholes option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods using the straight-line method. See additional information in Note 11. | |||||||||||||||||
Less gain in fair value of warrant liability | — | 1,456,000 | 5,129,000 | 3,036,000 | All issuances of stock options or other issuances of equity instruments to employees as the consideration for services received by us are accounted for based on the fair value of the equity instrument issued. | |||||||||||||||||||||||||
We account for stock-based compensation awards to non-employees in accordance with ASC 505-50, Equity Based Payments to Non-Employees. Under ASC 505-50, we determine the fair value of the warrants or stock-based compensation awards granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Stock-based compensation awards issued to non-employees are recorded in expense and additional paid-in capital in stockholders’ deficit over the applicable service periods based on the fair value of the awards or consideration received at the vesting date. | ||||||||||||||||||||||||||||||
Net (loss) for diluted earnings per share | $ | (9,142,191 | ) | $ | (3,316,461 | ) | $ | (11,910,788 | ) | $ | (5,968,978 | ) | Fair value of financial instruments: The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses, and capital leases approximate their estimated fair values due to the short-term maturities of those financial instruments. These financial instruments are considered Level 1 measurement under the fair value hierarchy, except for capital leases which are considered level 2. Due to the unique terms of our notes payable and lines of credit and the financial condition of the company, the fair value of the debt is not determinable. The fair value of warrants recorded as derivative liabilities is described in Note 13. | |||||||||||||||||
Subsequent events: We have evaluated potential subsequent events through March 4, 2013, which is the date the financial statements were issued. | ||||||||||||||||||||||||||||||
Denominator: | Earnings (loss) per share: Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares assumed to be outstanding during the period of computation. Diluted earnings per share is computed similar to basic earnings per share except that the numerator is adjusted for the change in fair value of the warrant liability (only if dilutive) and the denominator is increased to include the number of dilutive potential common shares outstanding during the period using the treasury stock method. | |||||||||||||||||||||||||||||
Weighted-average basic common shares outstanding | 3,985,663 | 1,346,124 | 2,667,799 | 1,337,702 | ||||||||||||||||||||||||||
Assumed conversion of dilutive securities: | Basic net loss and diluted net loss per share data were computed as follows: | |||||||||||||||||||||||||||||
Common stock purchase warrants | — | 83,611 | — | 83,611 | ||||||||||||||||||||||||||
Potentially dilutive common shares | — | 83,611 | — | 83,611 | 2012 | 2011 | 2010 | |||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||||||||
Denominator for diluted earnings per share – adjusted weighted-average shares | 3,985,663 | 1,429,735 | 2,667,799 | 1,421,313 | Net (loss) for basic earnings per share | $ | (6,665,627 | ) | $ | (19,887,040 | ) | $ | (8,407,341 | ) | ||||||||||||||||
Less change in fair value of warrant liability | 7,538,000 | — | — | |||||||||||||||||||||||||||
Basic net income (loss) per share | $ | (2.29 | ) | $ | (1.38 | ) | $ | (2.54 | ) | $ | (2.19 | ) | ||||||||||||||||||
Net (loss) for diluted earnings per share | $ | (14,203,627 | ) | $ | (19,887,040 | ) | $ | (8,407,341 | ) | |||||||||||||||||||||
Diluted net loss per share | $ | (2.29 | ) | $ | (2.32 | ) | $ | (4.46 | ) | $ | (4.20 | ) | ||||||||||||||||||
Denominator: | ||||||||||||||||||||||||||||||
The following table summarizes potentially dilutive adjustments to the weighted average number of common shares which were excluded from the calculation: | Weighted-average basic common shares outstanding | 1,342,174 | 1,274,153 | 1,253,231 | ||||||||||||||||||||||||||
Assumed conversion of dilutive securities: | ||||||||||||||||||||||||||||||
Common stock purchase warrants | 3,987 | — | — | |||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Potentially dilutive common shares | 3,987 | — | — | |||||||||||||||||||||||
Common stock purchase warrants | 1,926,477 | 939,729 | 1,926,477 | 939,729 | ||||||||||||||||||||||||||
Stock options | 507,610 | 584,190 | 507,610 | 584,190 | Denominator for diluted earnings per share—adjusted weighted-average shares | 1,346,161 | 1,274,153 | 1,253,231 | ||||||||||||||||||||||
Common shares issuable upon conversion of Series A Preferred Stock | — | 352,614 | — | 352,614 | ||||||||||||||||||||||||||
Common shares issuable upon conversion of Series B Preferred Stock | — | 364,320 | — | 364,320 | Basic net loss per share | $ | (4.97 | ) | $ | (15.61 | ) | $ | (6.71 | ) | ||||||||||||||||
2,434,087 | 2,240,853 | 2,434,087 | 2,240,853 | Diluted net loss per share | $ | (10.55 | ) | $ | (15.61 | ) | $ | (6.71 | ) | |||||||||||||||||
The following table summarizes potentially dilutive adjustments to the weighted average number of common shares which were excluded from the calculation: | ||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
Common stock purchase warrants | 1,102,176 | 888,739 | 745,732 | |||||||||||||||||||||||||||
Stock options | 553,340 | 559,990 | 511,660 | |||||||||||||||||||||||||||
Common shares issuable upon conversion of Series A Preferred Stock | 352,614 | 352,614 | 352,614 | |||||||||||||||||||||||||||
Common shares issuable upon conversion of Series B Preferred Stock | 364,320 | 364,320 | 364,320 | |||||||||||||||||||||||||||
Common shares issuable upon conversion of note payable to shareholder | — | — | 9,288 | |||||||||||||||||||||||||||
2,372,450 | 2,165,663 | 1,983,614 | ||||||||||||||||||||||||||||
Revenue_and_Accounts_Receivabl
Revenue and Accounts Receivable | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||
Revenue and Accounts Receivable | Note 3. Revenue and Accounts Receivable | Note 3. Revenue and Accounts Receivable | ||||||||||||||||||||||||||||
Revenue by payor type for the three and six months ended June 30, 2013 and 2012 is comprised of the following: | Revenue by payor type for each of the years ended December 31 is comprised of the following: | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Medicare | $ | 753,248 | $ | 717,661 | $ | 605,776 | ||||||||||||||||||||
Medicare | $ | 151,052 | $ | 269,838 | $ | 408,115 | $ | 408,605 | Direct bill (including clinical trials) | 1,594,509 | 350,290 | 408,356 | ||||||||||||||||||
Direct bill (including clinical trials clients) | 1,226,852 | 344,115 | 1,738,199 | 684,247 | Grants and royalty | 556,940 | 315,195 | 110,000 | ||||||||||||||||||||||
Grants and royalty | — | 184,500 | — | 195,000 | Insurance carrier and all others | 1,396,866 | 1,636,261 | 1,397,447 | ||||||||||||||||||||||
Insurance carrier and all others | 453,745 | 350,022 | 904,002 | 695,375 | ||||||||||||||||||||||||||
$ | 4,301,563 | $ | 3,019,407 | $ | 2,521,579 | |||||||||||||||||||||||||
$ | 1,831,649 | $ | 1,148,475 | $ | 3,050,316 | $ | 1,983,227 | |||||||||||||||||||||||
Accounts receivable by payor type at June 30, 2013 and December 31, 2012 consists of the following: | Accounts receivable by payor type at December 31, 2012 and 2011 consists of the following: | |||||||||||||||||||||||||||||
June 30, | December 31, | 2012 | 2011 | |||||||||||||||||||||||||||
2013 | 2012 | Medicare | $ | 193,024 | $ | 152,186 | ||||||||||||||||||||||||
Medicare | $ | 347,677 | $ | 193,024 | Direct bill | 339,763 | 64,183 | |||||||||||||||||||||||
Direct bill (including clinical trials clients) | 388,197 | 339,763 | Insurance carrier and all others | 353,758 | 496,661 | |||||||||||||||||||||||||
Insurance carrier and all others | 563,367 | 353,758 | Allowance for doubtful accounts | (36,000 | ) | (24,050 | ) | |||||||||||||||||||||||
Allowance for doubtful accounts | (36,000 | ) | (36,000 | ) | ||||||||||||||||||||||||||
$ | 850,545 | $ | 688,980 | |||||||||||||||||||||||||||
$ | 1,263,241 | $ | 850,545 | |||||||||||||||||||||||||||
We have historically derived a significant portion of our revenue from a limited number of test ordering sites. The test ordering sites are largely hospitals, cancer centers, reference laboratories, physician offices and clinical trial clients. Oncologists and pathologists at these sites order the tests on behalf of the needs of their oncology patients or as part of a clinical trial sponsored by a biopharmaceutical company in which the patient is being enrolled. The top five test ordering sites during 2012, 2011 and 2010 accounted for 58%, 63% and 60% respectively, of our clinical testing volumes, with 46%, 29% and 15% respectively, of the volume coming from community hospitals. In particular, during 2012, there were three sites which each accounted for approximately 10% or more of our revenue. A university teaching center accounting for approximately 11%, a clinical trial client accounted for approximately 13%, and a community hospital accounted for approximately 10%. During 2011, there were two sites which accounted for more than 10% of our revenue: a community hospital accounted for approximately 18% and a community oncology practice accounted for approximately 11%. In 2010 there were three sites which each accounted for more than 10% of our revenue: one community hospital accounted for approximately 12% of the company’s revenue; a regional reference laboratory accounted for 11% and a community oncology practice accounted for another 11%. We generally do not enter into formal written agreements with such testing sites and, as a result, we may lose these significant test ordering sites at any time. | ||||||||||||||||||||||||||||||
We have historically derived a significant portion of our revenue from a limited number of test ordering sites. The test ordering sites are largely hospitals, cancer centers, reference laboratories, physician offices as well as biopharmaceutical companies as part of a clinical trial. Oncologists and pathologists at these sites order the tests on behalf of the needs of their oncology patients or as part of a clinical trial sponsored by a biopharmaceutical company in which the patient is being enrolled. We generally do not have formal, long-term written agreements with such test ordering sites, and, as a result, we may lose these significant test ordering sites at any time. | ||||||||||||||||||||||||||||||
The top five test ordering sites during the three months ended June 30, 2013 and 2012 accounted for 74% and 62% respectively, of our clinical testing volumes, with 23% and 52% respectively, of the volume coming from community hospitals. During the three months ended June 30, 2013, there was one site which accounted for more than 10% of our revenue: a clinical trials client accounted for approximately 50% of our revenue. During the three months ended June 30, 2012, there were three sites which each accounted for 10% or more of our clinical revenue: a university teaching center accounting for approximately 13%, a community hospital accounted for approximately 11%, and a community hospital network accounted for approximately 11%. | ||||||||||||||||||||||||||||||
The top five test ordering sites during the six months ended June 30, 2013 and 2012 accounted for 69% and 61%, respectively, of our clinical testing volumes, with 27% and 48%, respectively, of the volume coming from community hospitals. During the six months ended June 30, 2013, there was one site which accounted for more than 10% of our revenue: a clinical trials client accounted for approximately 38% of our revenue. During the six months ended June 30, 2012, there were four sites which each accounted for approximately 10% or more of our clinical revenue: a university teaching center accounting for approximately 17%; a community hospital accounted for approximately 12%; and a clinical trials client and a community hospital network each accounted for approximately 11%. |
Notes_Payable_and_Lines_of_Cre
Notes Payable and Lines of Credit | 6 Months Ended | 12 Months Ended | ||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||
Notes Payable and Lines of Credit | Note 4. Notes Payable and Lines of Credit | Note 6. Notes Payable and Lines of Credit | ||||||||||||||||
Below is a summary of our short-term and long-term debt obligations as of June 30, 2013 and December 31, 2012: | Below is a summary of our short-term and long-term debt obligations as of December 31, 2012 and 2011: | |||||||||||||||||
June 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | December 2011 Financing Transaction | $ | 4,000,000 | $ | — | ||||||||||||
December 2011 Financing Transaction | $ | 1,500,000 | $ | 4,000,000 | Secured Note Payable, short-term | 79,867 | — | |||||||||||
Secured Note Payable, short-term | 64,014 | 79,867 | Other Note Payable | — | 100,000 | |||||||||||||
Unamortized debt discount | — | (243,300 | ) | Unamortized debt discount | (243,300 | ) | — | |||||||||||
Notes Payable, Current Portion | $ | 1,564,014 | $ | 3,836,567 | Notes Payable, Current Portion | $ | 3,836,567 | $ | 100,000 | |||||||||
Lines of Credit, Current Portion | $ | 8,000,000 | $ | 3,000,000 | Line of Credit, Principal Balance | $ | 3,000,000 | $ | — | |||||||||
Unamortized Debt Discount | (3,500 | ) | (128,800 | ) | Unamortized Debt Discount | (128,800 | ) | — | ||||||||||
Lines of Credit, Current Portion | $ | 7,996,500 | $ | 2,871,200 | Line of Credit, Current Portion | $ | 2,871,200 | $ | — | |||||||||
December 2011 Financing Transaction | $ | — | $ | 2,000,000 | December 2011 Financing Transaction | $ | 2,000,000 | $ | 3,000,000 | |||||||||
2012 Convertible Debt Financing Transaction | — | 3,000,000 | 2012 Convertible Debt Financing Transaction | 3,000,000 | — | |||||||||||||
December 2012 Bridge Financing Transaction | — | 1,000,000 | December 2012 Bridge Financing Transaction | 1,000,000 | — | |||||||||||||
Other Note Payable | — | 100,000 | Other Note Payable | 100,000 | ||||||||||||||
Secured Note Payable | — | 22,298 | Secured Note Payable | 22,298 | — | |||||||||||||
Unamortized debt discount | — | (3,681,615 | ) | Unamortized debt discount | (3,681,615 | ) | (1,087,635 | ) | ||||||||||
Notes Payable, Long-Term | $ | — | $ | 2,440,683 | Notes Payable, Long-Term | $ | 2,440,683 | $ | 1,912,365 | |||||||||
Lines of Credit, Long-Term | $ | — | $ | 6,000,000 | Lines of Credit, Principal Balances | $ | 6,000,000 | $ | 9,000,000 | |||||||||
Unamortized Debt Discount | — | (562,745 | ) | |||||||||||||||
Conversion of Debt concurrent with IPO | ||||||||||||||||||
On April 10, 2013, we completed our IPO and converted the following indebtedness into shares of common stock at the IPO price of $10.00 per share: | Lines of Credit, Long-Term | $ | 6,000,000 | $ | 8,437,255 | |||||||||||||
Converted Amount | Common Shares | December 2011 Financing Transaction | ||||||||||||||||
December 2011 Financing Transaction | $ | 4,500,000 | 450,000 | As of December 31, 2012, we had $6 million outstanding under a Credit Agreement dated as of December 21, 2011, as amended and restated as of February 13, 2012. The Credit Agreement is with John Pappajohn and Andrew Pecora (indirectly through an investment company), both members of our board of directors, and NNJCA Capital, LLC (“NNJCA”), a limited liability company of which Dr. Pecora is a member. Mr. Pappajohn provided $4.0 million of financing, NNJCA provided $1.5 million of financing and Dr. Pecora provided $500,000 of financing under the Credit Agreement. | ||||||||||||||
2012 Convertible Debt Financing Transaction | 3,000,000 | 300,000 | The loan bears an annual interest rate equal to the prime rate plus 6.25% (9.50% at December 31, 2012) with $2.0 million maturing April 1, 2014 and $4.0 million maturing August 13, 2013. The term loan due to Pecora and NNJCA has a prepayment penalty in the aggregate amount of $320,000, less interest previously paid, if we prepay the loan prior to February 12, 2013. The lenders may require that the loan be repaid within 30 days should we complete our IPO and receive gross proceeds of at least $15 million. In the event that any lender requires payment upon completion of our IPO and certain other maturity events, and we fail to make payment, the annual interest rate on any unpaid balance shall increase to 12%. The loan is secured by all of our assets, including our intellectual property, subject to prior first and second liens in favor of Wells Fargo Bank and DAM Holdings, LLC (“DAM”). Pursuant to an intercreditor agreement, the lenders have agreed that all amounts due to DAM are to be paid prior to payment to the lenders under this Credit Agreement, but that as between such lenders, following an event of default, all of the security granted by us is to be applied first to repay obligations due to Pecora and NNJCA, and then to Mr. Pappajohn after they have been paid in full. As Mr. Pappajohn has guaranteed the Wells Fargo debt, in essence under the intercreditor agreement, NNJCA and Pecora will be junior only to DAM. | |||||||||||||||
December 2012 Bridge Financing Transaction | 1,000,000 | 100,000 | The lenders received five-year warrants to purchase an aggregate of 84,705 shares of our common stock at an exercise price equal to the lesser of (i) $42.50 per share and (ii) a 20% discount to the IPO or merger price if the IPO or merger price is less than $53.13 per share, with 42,352 warrants issued to Mr. Pappajohn upon his fully funding $3.0 million on December 22, 2011 and an additional 42,352 warrants being issued proportionately to Mr. Pappajohn, Pecora and NNJCA upon their funding $1.0 million, $0.5 million and $1.5 million, respectively, on February 13, 2012. The lenders received an aggregate of 28,235 additional warrants on the same terms, with the warrants being issued proportionately to Mr. Pappajohn, Dr. Pecora and NNJCA because we did not consummate our IPO within 181 days of funding. The warrant exercise price is subject to a price adjustment feature in the event of issuances of more than $5 million of securities at prices below the exercise price prior to the completion of our IPO. The lenders may elect to net exercise their warrants. Mr. Pappajohn agreed to convert $2.0 million of the outstanding principal due to him to common stock at the IPO price upon consummation of this offering and to eliminate the conversion feature of the remaining $2.0 million in debt effective upon consummation of this offering. The conversion price of the notes and the exercise price of the warrants are subject to standard anti-dilution protection in the event of stock splits, stock dividends, stock combinations, reclassifications and the like. | |||||||||||||||
Business Lines of Credit (DAM) | 1,000,000 | 100,000 | We determined the fair value of the warrants issued in connection with the notes to be approximately $2,052,000 which was recorded as a discount to the notes on the inception date and is being amortized to interest expense over the term of the notes using the effective interest method. | |||||||||||||||
Other Note Payable and accrued interest | 134,300 | 13,430 | We determined the fair value of the warrants issued as a consequence of not consummating our IPO within 180 days of funding to be approximately $421,000 which was recorded as a financing fee asset and is being amortized to interest expense over the term of the notes. | |||||||||||||||
$ | 9,634,300 | 963,430 | On October 15, 2012, Dr. Pecora and NNJCA agreed to surrender warrants to purchase an aggregate of 37,646 shares of our common stock issued in connection with this transaction in exchange for an amendment to increase the pre-payment penalties by $130,000, resulting in a gain on warrant restructuring of $328,000. | |||||||||||||||
On October 23, 2012, the 75,294 warrants issued to Mr. Pappajohn in connection with the December 2011 Financing Transaction were amended to provide that the exercise price shall equal the lesser of (i) $42.50 per share or (ii) our IPO or merger price per share. In exchange, we issued to Mr. Pappajohn additional warrants to purchase an aggregate of 20,669 shares of our common stock at an exercise price equal to the lesser of (i) $42.50 per share and (ii) the IPO or merger price per share. The warrant exercise price is subject to standard anti-dilution protection in the event of stock splits, stock dividends, stock combinations, reclassifications and a share and price adjustment feature in the event of issuances of more than $5 million of securities at prices below the exercise price prior to the completion of our IPO (and in the event the IPO price is less than $42.50 or the consideration per share in a merger transaction is less than $42.50 per share). This amendment resulted in a loss on warrant restructuring of $545,000. | ||||||||||||||||||
In connection with the conversion of debt into common stock, we expensed the applicable remaining debt discounts of $3.5 million, financing fees of $419,000 and a contingently recognizable beneficial conversion feature in the converted debt of $3 million. After conversion of the above debt, we have indebtedness of $6,000,000 outstanding under a line of credit with Wells Fargo, $2,000,000 outstanding under a line of credit with DAM, $1,000,000 outstanding under a note agreement with NNJCA, $500,000 outstanding under a note agreement with Dr. Pecora, and $64,014 outstanding under the secured note payable. | On October 23, 2012, Mr. Pappajohn agreed to extend $2.0 million, which is held by his spouse, of the $4.0 million of notes payable to him, to April 1, 2014. Because of the extension provided by Mr. Pappajohn, we have classified $2.0 million of the December 2011 Financing Transaction as long-term. In exchange for this extension, we issued to Mr. Pappajohn additional warrants to purchase an aggregate of 9,412 shares of our common stock at an exercise price equal to the lesser of (i) $42.50 per share and (ii) the IPO or merger price per share. The warrant exercise price is subject to standard anti-dilution protection in the event of stock splits, stock dividends, stock combinations, reclassifications and the like and a share and price adjustment feature in the event of issuances of more than $5 million of securities at prices below the exercise price prior to the completion of our IPO (and in the event the IPO price is less than $42.50 or the consideration per share in a merger transaction is less than $42.50 per share). We determined the fair value of the warrants issued in connection with this extension to be approximately $267,000 which was recorded as a financing fee asset and is being amortized to interest expense over the term of the notes. | |||||||||||||||||
December 2011 Financing Transaction | 2012 Convertible Debt Financing Transaction | |||||||||||||||||
As of June 30, 2013 we had $1.5 million outstanding under a Credit Agreement dated as of December 21, 2011, as amended and restated as of February 13, 2012. | On August 27, 2012, we entered into a credit agreement with Mr. Pappajohn and Mr. Oman, who each provided $1 million of financing. The loan required interest at the prime rate plus 6.25% (9.50% at December 31, 2012) and matures on February 26, 2014. The Credit Agreement required the lenders to convert the principal amount of the loan as of the closing of an IPO into shares of our common stock at a conversion price equal to the lesser of $42.50 or at a 20% discount to our IPO price. | |||||||||||||||||
The lenders received five-year warrants to purchase an aggregate of 28,235 shares of our common stock at an exercise price equal to the lesser of (i) $42.50 per share or (ii) a 20% discount to the IPO or merger price if the IPO or merger price is less than $53.13 per share. The warrant exercise price was subject to a share and price adjustment feature in the event of issuances of more than $5 million of securities at prices below the exercise price prior to the completion of our IPO. The lenders were permitted to elect to net exercise their warrants. | ||||||||||||||||||
The Credit Agreement is with John Pappajohn and Andrew Pecora (indirectly through an investment company), both members of our board of directors, and NNJCA Capital, LLC (“NNJCA”), a limited liability company of which Dr. Pecora is a member. Mr. Pappajohn originally provided $4.0 million of financing, NNJCA originally provided $1.5 million of financing and Dr. Pecora provided $500,000 of financing under the Credit Agreement. On April 10, 2013, Mr. Pappajohn converted $4.0 million and NNJCA converted $500,000 into 450,000 shares of our common stock at the IPO price of $10.00 per share concurrent with our IPO. | We determined that the fair value of the warrants issued in connection with the notes to be approximately $1,108,000 which was recorded as a discount to the notes on the inception date and was being amortized to interest expense over the term of the notes using the effective interest method. | |||||||||||||||||
The loan bears an annual interest rate equal to the prime rate plus 6.25% (9.50% at June 30, 2013) with $1.5 million maturing August 15, 2013. We accrued a fee due to Pecora and NNJCA of $130,000 of which $50,527 was paid upon conversion of the notes. The loan is secured by all of our assets, including our intellectual property, subject to prior first and second liens in favor of Wells Fargo Bank and DAM Holdings, LLC (“DAM”). Pursuant to an intercreditor agreement, the lenders have agreed that all amounts due to DAM are to be paid prior to payment to the lenders under this Credit Agreement, but that as between such lenders, following an event of default, all of the security granted by us is to be applied first to repay obligations due to Dr. Pecora and NNJCA, and then to Mr. Pappajohn after they have been paid in full. As Mr. Pappajohn has guaranteed the Wells Fargo debt, in essence under the intercreditor agreement, NNJCA and Dr. Pecora will be junior only to DAM. | On October 17, 2012, we entered into a Restated Credit Agreement with Mr. Pappajohn and Mr. Oman under which we received an additional $750,000 from Mr. Pappajohn and $250,000 from Mr. Oman. The Restated Credit Agreement required the lenders to convert the principal amount of the loan as of the closing of an IPO into shares of our common stock at a conversion price equal to the lesser of $42.50 or our IPO price. Pursuant to the terms of the Restated Credit Agreement, the 28,235 warrants issued under the Credit Agreement were cancelled and the lenders received ten-year warrants to purchase an aggregate of 114,510 shares of our common stock (which were issued in proportion to their respective funding amounts) in each case with an exercise price equal to the lesser of (i) $42.50 per share or (ii) the IPO or merger price per share. The lenders received additional ten-year warrants to purchase an aggregate of 7,059 shares of our common stock (issued in proportion to their respective funding amounts) on the same terms because we did not consummate our IPO by November 27, 2012 and an additional 7,059 shares on the same terms because we did not consummate our IPO by February 22, 2013. The warrant exercise price is subject to standard anti-dilution protection in the event of stock splits, stock dividends, stock combinations, reclassifications and the like and a share and price adjustment feature in the event of issuances of more than $5 million of securities at prices below the exercise price prior to the completion of our IPO. The warrants are also subject to anti-dilution adjustment if the initial public offering price per share is less than $42.50 per share. | |||||||||||||||||
2012 Convertible Debt Financing Transaction | We determined the fair value of the warrants issued in connection with the Restated Credit Agreement notes, including the additional warrants because we did not consummate our IPO by November 27, 2012, to be approximately $3,097,000, of which $1,506,512 was recorded as a loss on debt restructuring, and $1,642,490 was recorded as an additional discount on the notes on the restatement date and is being amortized to interest expense over the term of the notes using the effective interest method. | |||||||||||||||||
On April 10, 2013, the entire $3 million outstanding under a Restated Credit Agreement dated as of August 27, 2012, as amended and restated as of October 17, 2012, ($1,750,000 provided by Mr. Pappajohn and $1,250,000 provided by Mr. Oman) was converted into 300,000 shares of common stock at the IPO price of $10 per share. | As of December 31, 2012, we had $3 million outstanding under the Restated Credit Agreement with Mr. Pappajohn, who provided $1.75 million, and Mr. Oman, who provided $1.25 million, of financing. The loan bears an annual interest rate equal to the prime rate plus 6.25% (9.50% at December 31, 2012) and matures on February 26, 2014. The Restated Credit Agreement requires the lenders to convert the principal amount of the loan as of the closing of an IPO into shares of our common stock at a conversion price equal to the lesser of $42.50 or the IPO price. | |||||||||||||||||
Through April 10, 2013, the loan bore interest at the prime rate plus 6.25% (9.50% at April 10, 2013). In February 2013, because we did not consummate our IPO within 181 days of funding, the lenders received ten-year warrants to purchase an aggregate of 7,059 shares of our common stock (issued in proportion to their respective funding amounts) with an exercise price equal to the lesser of (i) $42.50 per share or (ii) the IPO price per share, which was $10.00. The warrant exercise price is subject to standard anti-dilution protection in the event of stock splits, stock dividends, stock combinations, reclassifications and the like. | Shares that the lenders receive are subject to a lock-up agreement for 180 days after the consummation of an IPO on the same terms as other lock-up agreements in favor of the underwriters of an offering, but otherwise have registration rights pursuant to a registration rights agreement entered into simultaneously with the Restated Credit Agreement. | |||||||||||||||||
December 2012 Bridge Financing Transaction | December 2012 Bridge Financing Transaction | |||||||||||||||||
On April 10, 2013, the entire $1 million outstanding under a credit agreement dated as of December 7, 2012, (all of which was provided by Mr. Pappajohn), was converted into 100,000 shares of common stock at the IPO price of $10 per share. | As of December 31, 2012, we had $1 million outstanding under a credit agreement with Mr. Pappajohn, a stockholder, bearing interest at the prime rate plus 6.25% (9.50% at December 31, 2012) maturing June 7, 2014. The credit agreement requires Mr. Pappajohn to convert the outstanding principal balance into shares of our common stock at a conversion price equal to the lesser of $42.50 or our IPO price. In connection with this transaction, we issued to Mr. Pappajohn ten-year warrants to purchase 23,529 shares of our common stock at with an exercise price equal to the lesser of (i) $42.50 per share or (ii) the IPO or merger price per share. Mr. Pappajohn will receive additional ten-year warrants to purchase an aggregate of 2,353 shares of our common stock on the same terms in the event we do not consummate our IPO by each of the following dates: March 7, 2013 and June 7, 2013. The warrant exercise price is subject to standard anti-dilution protection in the event of stock splits, stock dividends, stock combinations, reclassifications and the like and a share and price adjustment feature in the event of issuances of more than $5 million of securities at prices below the exercise price at or prior to the completion of our IPO. | |||||||||||||||||
Through April 10, 2013, the loan bore interest at the prime rate plus 6.25% (9.50% at April 10, 2013). The credit agreement required Mr. Pappajohn to convert the outstanding principal balance into shares of our common stock at a conversion price equal to the lesser of $42.50 or our IPO price and as a result all debt was converted on April 10, 2013 at the IPO price of $10 per share. In March 2013, Mr. Pappajohn received ten-year warrants to purchase an aggregate of 2,353 shares of our common stock with an exercise price equal to the lesser of (i) $42.50 per share or (ii) the IPO or merger price per share, which was $10, because we did not consummate our IPO by March 7, 2013. The warrant exercise price is subject to standard anti-dilution protection in the event of stock splits, stock dividends, stock combinations, reclassifications and the like. | We determined that the fair value of the warrants issued in connection with this credit agreement to be approximately $839,000 which was recorded as a discount to the note on the inception date and is being amortized to interest expense over the term of the notes using the effective interest method. | |||||||||||||||||
Business Line of Credit – Wells Fargo | ||||||||||||||||||
At June 30, 2013 and December 31, 2012, we have fully utilized a line of credit with Wells Fargo Bank which provides for maximum borrowings of $6 million. Interest on the line of credit is due monthly equal to 1.75% above the Daily One Month LIBOR rate (1.95% at June 30, 2013). The line of credit requires the repayment of principal, and any unpaid interest, in a single payment due upon maturity. The line of credit matures April 1, 2014, is guaranteed by Mr. Pappajohn, and is collateralized by a first lien on all of our assets including the assignment of our approved and pending patent applications. | Business Lines of Credit | |||||||||||||||||
Business Line of Credit – DAM | At December 31, 2012 and 2011, we have fully utilized a line of credit with Wells Fargo Bank which provides for maximum borrowings of $6,000,000. Interest on the line of credit is due monthly equal to 1.75% above the Daily One Month LIBOR rate (1.96% at December 31, 2012). The line of credit requires the repayment of principal, and any unpaid interest, in a single payment due upon maturity. The line of credit matures April 1, 2014, is guaranteed by Mr. Pappajohn, and is collateralized by a first lien on all of our assets including the assignment of our approved and pending patent applications. | |||||||||||||||||
At June 30, 2013 and December 31, 2012, $2 million and $3 million, respectively, was outstanding under a line of credit agreement with DAM. On April 10, 2013, $1 million of indebtedness under this line was converted into 100,000 shares of common stock at the IPO price of $10 per share. | On October 17, 2012, the 37,000 warrants issued to Mr. Pappajohn in connection with his guarantee were amended to provide that the exercise price shall equal the lesser of (i) $42.50 per share or (ii) our IPO or merger price per share. In exchange, we issued to Mr. Pappajohn additional warrants to purchase an aggregate of 10,157 shares of our common stock at an exercise price equal to the lesser of (i) $42.50 per share and (ii) the IPO or merger price per share. The warrant exercise price is subject to standard anti-dilution protection in the event of stock splits, stock dividends, stock combinations, reclassifications and the like and a share and price adjustment feature in the event of issuances of more than $5 million of securities at prices below the exercise price prior to the completion of our IPO (and in the event the IPO price is less than $42.50 or the consideration per share in a merger transaction is less than $42.50 per share). This amendment resulted in a loss on warrant restructuring of $268,000. | |||||||||||||||||
Pursuant to an intercreditor agreement between Mr. Pappajohn and DAM (the “Intercreditor Agreement”), we were required to use the proceeds from our IPO to repay the full amount outstanding under the DAM Loan Agreement before any proceeds can be used to repay any debt outstanding under the Wells Fargo Line of Credit. On February 13, 2013, DAM agreed to convert $1.0 million which had been due April 1, 2013 of outstanding indebtedness into shares of common stock at the IPO price per share. We had accrued a fee due to DAM of $52,500 of which $35,422 was paid upon conversion of the line of credit. On March 19, 2013, the maturity date for $2 million of the DAM debt was extended to mature on August 15, 2013. The DAM debt bears an annual interest rate of 10% payable in equal monthly installments. After a maturity event occurs, interest begins to compound at a rate of 18% per annum until the balance is paid in full. | On March 23, 2011, we entered into a line of credit agreement with DAM in which we received proceeds of $3 million. Pursuant to an intercreditor agreement between Mr. Pappajohn and DAM (the “Intercreditor Agreement”), we are required to use the proceeds from our IPO to repay the full amount outstanding under the DAM Loan Agreement before any proceeds can be used to repay any debt outstanding under the Wells Fargo Line of Credit. The DAM debt bears an annual interest rate of 10% payable in equal monthly installments and expires upon the earlier of the following: (i) April 1, 2013, (ii) the occurrence of an IPO of our equity securities in which we receive gross proceeds in the amount of $10 million or more, or (iii) the consummation of a transaction in which we either merge with a reporting company under the Securities Exchange Act of 1934, as amended, or a public company acquires all or substantially all of our Company, and the survivor of such merger of the public company receives gross proceeds from the sale of the survivors securities or the public company’s securities in the amount of $10 million or more. If certain maturity events do occur prior to April 1, 2013 and the line of credit is not repaid on the date of the maturity event, then the interest rate will increase to 18% per annum. | |||||||||||||||||
Secured Note Payable | In connection with the acquisition of the line of credit, we issued 60,000 warrants to DAM with an exercise price of $12.50 per share expiring March 2016. We determined the fair value of the warrants issued in connection with the line of credit to be approximately $1,019,000 which was recorded as a debt discount on the inception date of the line of credit and is being amortized to interest expense over the term of the facility using the effective interest method. | |||||||||||||||||
On September 25, 2012, we entered into a note payable secured by lab equipment due March 25, 2014. The note requires monthly payments of principal and interest at 18% per annum. At June 30, 2013, $64,014 was outstanding under the note. At December 31, 2012, $102,165 was outstanding under the note. | In March 2012, in consideration for the lender extending the maturity date of the loan to April 1, 2013, we granted DAM warrants to purchase 15,000 shares of our common stock with an initial estimated fair value of $306,000 recorded as a financing fee asset and amortized over the extension period to interest expense using the effective interest method. On October 16, 2012, DAM agreed to surrender these warrants in exchange for a cash interest payment of $52,500 at the maturity date, resulting in a gain on warrant restructuring of $129,500. | |||||||||||||||||
Other Note Payable | ||||||||||||||||||
At December 31, 2012, notes payable included a $100,000 note payable to Dr. Chaganti, our Chairman of the Board. Accrued interest at December 31, 2012 was approximately $34,300. The note bore interest at 8.5% per annum. On April 10, 2013, the note and accrued interest converted into 13,430 shares of common stock at the IPO price of $10.00 per share. | Subsequent Events | |||||||||||||||||
On February 13, 2013, Mr. Pappajohn (on behalf of his spouse), NNJCA and DAM, agreed to convert $2.0 million, $500,000 and $1.0 million, respectively, or an aggregate of $3.5 million of outstanding indebtedness, into shares of common stock at the initial public offering price per share, effective upon the consummation of our IPO. | ||||||||||||||||||
Secured Note Payable | ||||||||||||||||||
On September 25, 2012, we entered into a note payable secured by lab equipment due March 25, 2014. The note requires monthly payments of principal and interest at 18% per annum. At December 31, 2012, $102,165 was outstanding under the note. | ||||||||||||||||||
Other Note Payable | ||||||||||||||||||
At December 31, 2012 and 2011, notes payable included a $100,000 note payable to Dr. Chaganti, our Chairman of the Board. The note is due on April 1, 2014 and bears interest at 8.5% per annum. Accrued interest at December 31, 2012 and 2011 was approximately $34,000 and $36,000, respectively. | ||||||||||||||||||
Subsequent Events | ||||||||||||||||||
On February 13, 2013, Dr. Chaganti agreed to convert the total amount of principal and interest owed to him into shares of common stock at the IPO price per share, effective upon the consummation of our IPO. | ||||||||||||||||||
Loss on Debt and Warrant Restructuring | ||||||||||||||||||
As noted above, we entered into a Restated Credit Agreement with Mr. Pappajohn and Mr. Oman in October 2012 to provide for additional borrowing of $1,000,000 and to remove the conversion price adjustment of a 20% discount to the IPO or merger price if the IPO or merger price is less than $53.12 per share. We evaluated the application of ASC 470-50, Modifications and Extinguishments and ASC 470-60, Troubled Debt Restructurings by Debtors and concluded that the revised terms constituted a debt extinguishment, rather than a debt modification or troubled debt restructuring. | ||||||||||||||||||
Also as noted above, we cancelled certain warrants with an exercise price adjustment of a 20% discount to the IPO or merger price if the IPO or merger price is less than $53.13 per share and issued warrants without an exercise price adjustment to a 20% discount to the IPO or merger price if the IPO or merger price is less than $53.13 per share as compensation. In connection with these transactions, we recognized a loss on debt and warrant restructuring as presented below: | ||||||||||||||||||
Restated 2012 convertible debt financing transaction | $ | 1,506,512 | ||||||||||||||||
Amend warrants granted for guarantee of business line of credit | 268,000 | |||||||||||||||||
Amend warrants granted for 2011 convertible debt financing transaction | 545,000 | |||||||||||||||||
Settle warrants granted for guarantee of business line of credit | (129,500 | ) | ||||||||||||||||
Settle warrants granted for 2011 convertible debt financing transaction | (328,000 | ) | ||||||||||||||||
Loss on debt and warrant restructuring | $ | 1,862,012 | ||||||||||||||||
Letter_of_Credit
Letter of Credit | 6 Months Ended | 12 Months Ended |
Jun. 30, 2013 | Dec. 31, 2012 | |
Text Block [Abstract] | ||
Letter of Credit | Note 5. Letter of Credit | Note 7. Letter of Credit |
Pursuant to the terms of our lease for our Rutherford facility, during the second fiscal quarter of 2013 we restricted an additional $50,000 in cash in addition to the $250,000 that was previously restricted in order to secure a $300,000 letter of credit in favor of our landlord. | In connection with the facility lease, the lessor required the establishment of a stand-by letter of credit in the amount of $450,000 to use as a guarantee for a security deposit. The amount of the letter of credit was reduced by $54,800 during the year ended December 31, 2011. In February 2011, we allowed the letter of credit to expire. On April 6, 2012, we reached an agreement with the landlord which requires us to provide a letter of credit in the amount of $250,000 and in exchange, the landlord agreed to forebear taking action to enforce our obligation to maintain the $450,000 letter of credit. The landlord also agreed to reduce our security deposit requirement to a $250,000 letter of credit upon a capital raise of at least $20 million by July 31, 2012. The landlord has verbally agreed to extend the time to complete a capital raise and has allowed us to continue to lease the property with a reduced security deposit of $250,000. |
Capital_Stock
Capital Stock | 6 Months Ended | 12 Months Ended |
Jun. 30, 2013 | Dec. 31, 2012 | |
Equity [Abstract] | ||
Capital Stock | Note 6. Capital Stock | Note 10. Capital Stock |
On April 10, 2013, we completed our IPO in which we issued and sold 690,000 shares of common stock (including the underwriter’s overallotment of 90,000 shares) at a public offering price of $10.00 per share. In connection with the offering, all outstanding shares of Series A preferred stock were converted into 376,525 shares of common stock, and all outstanding shares of Series B preferred stock were converted into 910,800 shares of common stock. Concurrent with the IPO, we issued 2,000 shares of common stock to Cleveland Clinic pursuant to our license agreement with Cleveland Clinic. | On February 8, 2013, we filed a charter amendment with the Secretary of State for the State of Delaware and effected a 1-for-2 reverse stock split of our common stock, as approved by the Board of Directors and shareholders. On March 1, 2013, we filed another charter amendment with the Secretary of State for the State of Delaware and effected a 1-for-2.5 reverse stock split of our common stock. All shares and per share information referenced throughout the consolidated financial statements have been retroactively adjusted to reflect both reverse stock splits. | |
We are currently authorized to issue up to 9,764,000 shares of preferred stock. | We are authorized to issue 588,000 shares of Series A Convertible Preferred Stock (“Series A”) and 2,000,000 shares of Series B Convertible Preferred Stock (“Series B”). The holders of the Series A and Series B shares are entitled to participate in any dividend declared by the Board of Directors on the Common Stock on a pro-rata basis with holders of the Common Stock. The Series A holders have a liquidation preference equal to the original Series A purchase price of $8.46 per share (or $4,971,866) and the Series B holders have a liquidation preference equal to the Series B original purchase price of $5.00 per share (or $9,108,000) subject to adjustment for stock splits, stock dividends and combinations and similar adjustments to capitalization. Alternatively, the preferred stockholders can elect to convert the Series A and Series B into Common Stock and participate ratably with holders of Common Stock in the distribution of assets upon liquidation of the Company. The holders of Series A and Series B have the right to convert their shares into Common Stock at any time. The initial conversion rate is the original purchase price of the Series A or Series B shares divided by the conversion price in effect at the time of conversion. The initial conversion price equals the original purchase price paid by the holder for a share of Series A or series B, as applicable. Upon the consummation of an IPO at a price that exceeds the initial conversion prices as set forth in the subsequent paragraph, the Series A shares will automatically convert into 352,614 shares of common stock and the Series B shares will automatically convert into 364,320 shares of common stock upon the closing of an underwritten public offering pursuant to an effective registration statement in connection with an IPO with gross proceeds of $15,000,000 or more and under certain other circumstances. | |
The conversion price is subject to adjustment in the event of stock dividends, stock splits, combinations and similar adjustments to capitalization. The prices of each series of preferred stock are also subject to a price adjustment feature in the event that we issue additional equity securities at a per share price less than the applicable conversion price for each such series of preferred stock. The current conversion price for the Series A is $14.10 and for the Series B is $25.00. For example, if the Series A and B were to convert to common stock in an IPO completed at $10.00 per share, Series A shares would convert into 376,550 shares of common stock and Series B shares would convert into 910,800 shares of common stock. All references to the Company’s Series A preferred stock in these financial statements refer collectively to the Series A and Series A-1 preferred shares. The Company issued the Series A-1 preferred stock in exchange for the Series A to cure possible technical deficiencies with respect to the original issuance of the Series A preferred stock, but five holders of Series A have not responded to requests to exchange their shares, which represent approximately 9.01% of the two Series A and A-1 that is outstanding. | ||
The Series B purchase agreement provides for the payment of a semiannual cash penalty payable to each holder of Series B if we fail to complete a merger with a corporation whose shares were registered for issuance pursuant to the Securities Act of 1933, as amended (the “Securities Act”), within 9 months of the closing of the Series B offering (or August 19, 2011) (the “Merger Period”). The penalty shall be equal to 1% of the original purchase price for a share of Series B for the first 30 day period following the expiration of the Merger Period if a merger shall not have been consummated and an additional 2% of the original purchase price for a share of Series B for each successive 30 day period following the first penalty period, pro-rated daily up to a maximum penalty of 11% of the original purchase price for a share of Series B per annum. The maximum potential consideration to be transferred under the terms of the purchase agreement is unlimited. In September 2011, we solicited holders of the Series B to execute an amendment and waiver to the Series B purchase agreement, which provided for (i) a waiver of the cash penalties and (ii) an amendment extending the Merger Period to March 31, 2012 and providing for (A) the tolling of the Merger Period if we file a registration statement with the Securities and Exchange Commission with respect to an lPO and (B) elimination of penalties if we consummate the lPO. As of December 31, 2012, holders of 1,522,600 shares of Series B Convertible Preferred Stock have agreed to the waiver. |
Stock_Option_Plans
Stock Option Plans | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Stock Option Plans | Note 7. Stock Option Plans | Note 11. Stock Option Plans | ||||||||||||||||||||||||||||||||||||||||
We have two equity incentive plans: the 2008 Stock Option Plan (the “2008 Plan”) and the 2011 Equity Incentive Plan (the “2011 Plan”, and together with the 2008 Plan, the “Stock Option Plans”). The 2011 Plan was approved by the Board of Directors on June 30, 2011 and was subsequently ratified by stockholders. The 2011 Plan authorizes the issuance of up to 350,000 shares of common stock under several types of equity awards including stock options, stock appreciation rights, restricted stock awards and other awards defined in the 2011 Plan. There have been no awards under the 2011 Plan. | We have two equity incentive plans: the 2008 Stock Option Plan (the “2008 Plan”) and the 2011 Equity Incentive Plan (the “2011 Plan”, and together with the 2008 Plan, the “Stock Option Plans”). The 2011 Plan was approved by the Board of Directors on June 30, 2011 and was subsequently ratified by stockholders. The 2011 Plan authorizes the issuance of up to 350,000 shares of common stock under several types of equity awards including stock options, stock appreciation rights, restricted stock awards and other awards defined in the 2011 Plan. There have been no awards under the 2011 Plan. | |||||||||||||||||||||||||||||||||||||||||
The Board of Directors adopted the 2008 Plan on April 29, 2008 and reserved 251,475 shares of common stock for issuance under the plan. On April 1, 2010, the stockholders voted to increase the number of shares reserved by the plan to 550,000. The 2008 Plan is meant to provide additional incentive to officers, employees and consultants to remain in our employment. We are authorized to issue incentive stock options or non-statutory stock options to eligible participants. Options granted are generally exercisable for up to 10 years. | The Board of Directors adopted the 2008 Plan on April 29, 2008 and reserved 251,475 shares of common stock for issuance under the plan. On April 1, 2010, the stockholders voted to increase the number of shares reserved by the plan to 550,000. The 2008 Plan is meant to provide additional incentive to officers, employees and consultants to remain in our employment. We are authorized to issue incentive stock options or non-statutory stock options to eligible participants. Options granted are generally exercisable for up to 10 years. | |||||||||||||||||||||||||||||||||||||||||
At June 30, 2013, 122,390 shares remain available for future awards under the 2008 Plan and 350,000 shares remain available for future awards under the 2011 Plan. | At December 31, 2012, 76,660 shares remain available for future awards under the 2008 Plan and 350,000 shares remain available for future awards under the 2011 Plan. | |||||||||||||||||||||||||||||||||||||||||
As of June 30, 2013, no stock appreciation rights, restricted stock, or awards other than stock options had been awarded under the Stock Option Plans. | Additionally, of the shares available for future awards at December 31, 2012, 49,100 shares have been approved to be issued at an exercise price equal to the offering price of our common stock in an IPO. Recognition of compensation expense related to these options will begin at the IPO date when the exercise price is set and employees begin to benefit from, or be adversely affected by, changes in the Company’s stock price. | |||||||||||||||||||||||||||||||||||||||||
We have also issued 80,000 options outside of the Stock Option Plans. | As of December 31, 2012, no stock appreciation rights had been awarded under the Stock Option Plans. | |||||||||||||||||||||||||||||||||||||||||
The Board of Directors authorized an offer to certain employee options holders on the following terms: those employees holding stock options with a strike price of $25.00 or more had the opportunity to exchange their options for 60% of the number of options currently held with an exercise price equal to the IPO price, which was $10.00 per share, and those employees holding stock options with a strike price of $12.50 had the opportunity to exchange their options for 80% of the number of options currently held with an exercise price equal to the IPO price which was $10.00 per share. On April 5, 2013, our initial public offering became effective and 336,300 options with exercise prices ranging from $12.50 to $33.80 were exchanged for 242,070 options with an exercise price of $10.00. In addition, 53,500 options which were approved to be issued and priced at the IPO price were issued to employees with an exercise price of $10.00 per share. | We have also issued 80,000 options outside of the Stock Option Plans. | |||||||||||||||||||||||||||||||||||||||||
On April 17, 2013, we issued 5,850 options to employees with an exercise price of $11.75 per share as approved by the Board of Directors. | During 2011, 35,650 options were amended to increase the exercise price from $4.00 to $4.80 based upon a retrospective valuation of our common stock as of the date of grant. The increase in the exercise price of the options did not result in the recognition of incremental compensation cost. | |||||||||||||||||||||||||||||||||||||||||
A summary of employee and nonemployee stock option activity for year ended December 31, 2012 and the six months ended June 30, 2013 is as follows: | The Board of Directors authorized an offer to certain employee options holders on the following terms: those employees holding stock options with a strike price of $25.00 or more have the opportunity to exchange their options for 60% of the number of options currently held with an exercise price equal to our initial public offering price, and those employees holding stock options with a strike price of $12.50 have the opportunity to exchange their options for 80% of the number of options currently held with an exercise price equal to our initial public offering price. There are currently 142,850 outstanding options with a strike price of $25.00 or more and 201,650 outstanding options with a strike price of $12.50. The employees have until the effective date of our initial public offering to accept the exchange offer. No adjustment in the number of options or the weighted average exercise price of our outstanding options has been made in these financial statements to reflect the potential acceptance of the exchange by one or more option holders. | |||||||||||||||||||||||||||||||||||||||||
On October 12, 2012, the Board of Directors also voted to amend the 2011 Plan. The amendment increases the number of shares available for grant under the 2011 Plan from 150,000 to 350,000 shares. This amendment has been ratified by our stockholders. | ||||||||||||||||||||||||||||||||||||||||||
Options Outstanding | Weighted- | Aggregate | A summary of employee and nonemployee stock option activity for the years ended December 31, 2012, 2011 and 2010 is as follows: | |||||||||||||||||||||||||||||||||||||||
Average | Intrinsic | |||||||||||||||||||||||||||||||||||||||||
Remaining | Value | |||||||||||||||||||||||||||||||||||||||||
Contractual | Options Outstanding | Weighted- | Aggregate | |||||||||||||||||||||||||||||||||||||||
Number of | Weighted- | Term (in years) | Average | Intrinsic | ||||||||||||||||||||||||||||||||||||||
Shares | Average | Remaining | Value | |||||||||||||||||||||||||||||||||||||||
Exercise | Contractual | |||||||||||||||||||||||||||||||||||||||||
Price | Number of | Weighted- | Term (in years) | |||||||||||||||||||||||||||||||||||||||
Outstanding January 1, 2012 | 559,990 | $ | 12.85 | 8.1 | $ | 11,737,710 | Shares | Average | ||||||||||||||||||||||||||||||||||
Granted | 2,400 | 33.8 | Exercise | |||||||||||||||||||||||||||||||||||||||
Cancelled or expired | (9,050 | ) | 23.43 | Price | ||||||||||||||||||||||||||||||||||||||
Outstanding January 1, 2010 | 220,000 | $ | 4 | 9.13 | $ | 176,400 | ||||||||||||||||||||||||||||||||||||
Outstanding December 31, 2012 | 553,340 | $ | 12.76 | 7.13 | $ | 1,142,432 | Granted | 340,660 | 14.35 | |||||||||||||||||||||||||||||||||
Granted | 59,350 | 10.17 | Exercised | (45,400 | ) | 4 | ||||||||||||||||||||||||||||||||||||
Cancelled or expired | (105,080 | ) | 20.61 | Cancelled or expired | (3,600 | ) | 4 | |||||||||||||||||||||||||||||||||||
Outstanding June 30, 2013 | 507,610 | $ | 7.61 | 6.78 | $ | 1,217,614 | Outstanding December 31, 2010 | 511,660 | $ | 10.9 | 8.97 | $ | 1,693,760 | |||||||||||||||||||||||||||||
Granted | 67,615 | 26.73 | ||||||||||||||||||||||||||||||||||||||||
Exercisable, June 30, 2013 | 375,358 | $ | 6.87 | 6.44 | $ | 1,168,635 | Cancelled or expired | (19,285 | ) | 11.78 | ||||||||||||||||||||||||||||||||
Outstanding December 31, 2011 | 559,990 | $ | 12.85 | 8.1 | $ | 11,737,710 | ||||||||||||||||||||||||||||||||||||
Aggregate intrinsic value represents the difference between the estimated fair value of our common stock and the exercise price of outstanding, in-the-money options. The estimated fair value of our common stock was $9.96 and $9.60 as of June 30, 2013 and December 31, 2012, respectively. No options were exercised during the six months ended June 30, 2013 and 2012. | Granted | 2,400 | 33.8 | |||||||||||||||||||||||||||||||||||||||
As of June 30, 2013 and December 31, 2012, total unrecognized compensation cost related to nonvested stock options granted to employees was $879,831 and $846,810, respectively, which we expect to recognize over the next 2.80 and 2.61 years, respectively. | Cancelled or expired | (9,050 | ) | 23.43 | ||||||||||||||||||||||||||||||||||||||
As of June 30, 2013 and December 31, 2012, total unrecognized compensation cost related to nonvested stock options granted to non-employees was $27,300 and $190,500, respectively, which we expect to recognize over the next quarter and six months, respectively. The estimate of unrecognized nonemployee compensation is based on the fair value of the nonvested options as of June 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information about outstanding and vested stock options granted to employees and non-employees as of June 30, 2013 as follows: | Outstanding December 31, 2012 | 553,340 | $ | 12.76 | 7.13 | $ | 1,142,432 | |||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | 401,458 | $ | 11.15 | 6.97 | $ | 1,082,482 | ||||||||||||||||||||||||||||||||||||
Options Outstanding | Options Vested | |||||||||||||||||||||||||||||||||||||||||
and Exercisable | Aggregate intrinsic value represents the difference between the estimated fair value of our common stock and the exercise price of outstanding, in-the-money options. The estimated fair value of our common stock was $9.60, $33.80, and $11.90 as of December 31, 2012, 2011 and 2010, respectively. During the year ended December 31, 2010, we received $1,600 from the exercise of options. The options exercised in 2010 had a total intrinsic value of $293,350. Options were not exercised in 2012 or 2011. During the year ended December 31, 2010, 7,200 shares were surrendered as part of a net-issue exercise. | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | Number of | Weighted- | Weighted- | Number of | Weighted- | As of December 31, 2012 and 2011, total unrecognized compensation cost related to nonvested stock options granted to employees was $846,810 and $1,262,246, respectively, which we expect to recognize over the next 2.61 and 3.61 years, respectively. | ||||||||||||||||||||||||||||||||||||
Shares | Average | Average | Shares | Average | As of December 31, 2012 and 2011, total unrecognized compensation cost related to nonvested stock options granted to non-employees was $190,500 and $1,061,270, respectively, which we expect to recognize over the next 0.50 and 1.40 years, respectively. The estimate of unrecognized nonemployee compensation is based on the fair value of the nonvested options as of December 31, 2012 and 2011. | |||||||||||||||||||||||||||||||||||||
Outstanding | Remaining | Exercise | Exercise | |||||||||||||||||||||||||||||||||||||||
Contractual | Price | Price | The following table summarizes information about outstanding and vested stock options granted to employees and non-employees as of December 31, 2012 as follows: | |||||||||||||||||||||||||||||||||||||||
Life (in years) | ||||||||||||||||||||||||||||||||||||||||||
4 | 175,000 | 5.84 | $ | 4 | 175,000 | $ | 4 | |||||||||||||||||||||||||||||||||||
4.8 | 33,840 | 6.55 | 4.8 | 24,348 | 4.8 | Options Outstanding | Options Vested and Exercisable | |||||||||||||||||||||||||||||||||||
10 | 292,970 | 7.32 | 10 | 175,910 | 10 | Exercise Price | Number of | Weighted- | Weighted- | Number of | Weighted- | |||||||||||||||||||||||||||||||
11.75 | 5,600 | 9.79 | 11.75 | — | — | Shares | Average | Average | Shares | Average | ||||||||||||||||||||||||||||||||
12.5 | 200 | 7.44 | 12.5 | 100 | 12.5 | Outstanding | Remaining | Exercise | Exercise Price | |||||||||||||||||||||||||||||||||
Contractual | Price | |||||||||||||||||||||||||||||||||||||||||
Total | 507,610 | 6.78 | $ | 7.61 | 375,358 | $ | 6.87 | Life (in years) | ||||||||||||||||||||||||||||||||||
4 | 175,000 | 6.33 | $ | 4 | 175,000 | $ | 4 | |||||||||||||||||||||||||||||||||||
The fair value of options granted to employees is estimated on the grant date using the Black-Scholes option valuation model. This valuation model for stock-based compensation expense requires us to make assumptions and judgments about the variables used in the calculation, including the fair value of our common stock (see Note 9), the expected term (the period of time that the options granted are expected to be outstanding), the volatility of our common stock, a risk-free interest rate, and expected dividends. We also estimate forfeitures of unvested stock options. To the extent actual forfeitures differ from the estimates, the difference will be recorded as a cumulative adjustment in the period estimates are revised. No compensation cost is recorded for options that do not vest. We use the simplified calculation of expected life described in the SEC’s Staff Accounting Bulletin No. 107, Share-Based Payment, and volatility is based on an average of the historical volatilities of the common stock of four entities with characteristics similar to those of the Company. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. We use an expected dividend yield of zero, as we do not anticipate paying any dividends in the foreseeable future. Expected forfeitures are assumed to be zero due to the small number of plan participants and the plan design which has monthly vesting after an initial cliff vesting period. | 4.8 | 33,840 | 7.05 | 4.8 | 21,350 | 4.8 | ||||||||||||||||||||||||||||||||||||
12.5 | 201,650 | 7.27 | 12.5 | 118,430 | 12.5 | |||||||||||||||||||||||||||||||||||||
The following table presents the weighted-average assumptions used to estimate the fair value of options granted to employees during the periods presented: | 25 | 130,200 | 7.85 | 25 | 83,486 | 25 | ||||||||||||||||||||||||||||||||||||
31.65 | 2,250 | 8.76 | 31.65 | 525 | 31.65 | |||||||||||||||||||||||||||||||||||||
33.8 | 10,400 | 9.02 | 33.8 | 2,667 | 33.8 | |||||||||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||
June 30, 2013 A | 2013 | 2012 | Total | 553,340 | 7.13 | $ | 12.76 | 401,458 | $ | 11.15 | ||||||||||||||||||||||||||||||||
Volatility | 77.11 | % | 77.11 | % | 74.39 | % | ||||||||||||||||||||||||||||||||||||
Risk free interest rate | 0.76 | % | 0.76 | % | 1.43 | % | The fair value of options granted to employees is estimated on the grant date using the Black-Scholes option valuation model. This valuation model for stock-based compensation expense requires us to make assumptions and judgments about the variables used in the calculation, including the fair value of our common stock (see Note 13), the expected term (the period of time that the options granted are expected to be outstanding), the volatility of our common stock, a risk-free interest rate, and expected dividends. We also estimate forfeitures of unvested stock options. To the extent actual forfeitures differ from the estimates, the difference will be recorded as a cumulative adjustment in the period estimates are revised. No compensation cost is recorded for options that do not vest. We use the simplified calculation of expected life described in the SEC’s Staff Accounting Bulletin No. 107, Share-Based Payment, and volatility is based on an average of the historical volatilities of the common stock of four entities with characteristics similar to those of the Company. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. We use an expected dividend yield of zero, as we do not anticipate paying any dividends in the foreseeable future. Expected forfeitures are assumed to be zero due to the small number of plan participants and the plan design which has monthly vesting after an initial cliff vesting period. | |||||||||||||||||||||||||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | The following table presents the weighted-average assumptions used to estimate the fair value of options granted to employees during the periods presented: | |||||||||||||||||||||||||||||||||||
Term (years) | 5.95 | 5.95 | 6.5 | |||||||||||||||||||||||||||||||||||||||
Weighted-average fair value of options granted during the period | $ | 6.72 | $ | 6.72 | $ | 9.34 | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||
A | There were no options granted during the three months ended June 30, 2012. | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||
In 2010, we issued an aggregate of 80,000 options to non-employees with an exercise price of $25.00. The following table presents the weighted-average assumptions used to estimate the fair value of options reaching their measurement date for non-employees during the periods presented: | Volatility | 77.39 | % | 76.13 | % | 78.02 | % | |||||||||||||||||||||||||||||||||||
Risk free interest rate | 1.43 | % | 2.67 | % | 3.2 | % | ||||||||||||||||||||||||||||||||||||
Dividend yield | — | — | — | |||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Term (years) | 6.5 | 6.44 | 6.47 | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Weighted-average fair value of options granted during the period | $ | 23.35 | $ | 10.6 | $ | 4.6 | ||||||||||||||||||||||||||||||||
Volatility | 76.21 | % | 74.93 | % | 76.04 | % | 74.9 | % | ||||||||||||||||||||||||||||||||||
Risk free interest rate | 1.23 | % | 1.44 | % | 1.24 | % | 1.45 | % | In 2010, we issued an aggregate of 80,000 options to non-employees with an exercise price of $25.00. The following table presents the weighted-average assumptions used to estimate the fair value of options reaching their measurement date for non-employees during the periods presented: | |||||||||||||||||||||||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||||||||||||||||||||||||
Term (years) | 7.46 | 8.35 | 7.58 | 8.52 | ||||||||||||||||||||||||||||||||||||||
The following table presents the effects of stock-based compensation related to stock option awards to employees and nonemployees on our Statement of Operations during the periods presented: | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||
Volatility | 75.01 | % | 75.45 | % | 77.89 | % | ||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Risk free interest rate | 1.26 | % | 2.85 | % | 2.76 | % | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Dividend yield | — | — | — | |||||||||||||||||||||||||||||||||||
Cost of revenues | $ | 11,967 | $ | 5,191 | $ | 14,179 | $ | 8,431 | Term (years) | 8.28 | 9.23 | 9.86 | ||||||||||||||||||||||||||||||
Research and development | 35,962 | 129,537 | 90,798 | 269,112 | The following table presents the effects of stock-based compensation related to stock option awards to employees and nonemployees on our Statement of Operations during the periods presented: | |||||||||||||||||||||||||||||||||||||
General and administrative | 94,112 | 86,314 | 152,267 | 160,724 | Employee and Non Employee Compensation Expense | |||||||||||||||||||||||||||||||||||||
Sales and marketing | 30,693 | 66,775 | 32,625 | 126,417 | ||||||||||||||||||||||||||||||||||||||
Total stock-based compensation | $ | 172,734 | $ | 287,817 | $ | 289,869 | $ | 564,684 | Year Ended December 31, | |||||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||
Cost of revenues | $ | 11,753 | $ | 9,603 | $ | 17,748 | ||||||||||||||||||||||||||||||||||||
Research and development | 460,321 | 423,950 | 64,038 | |||||||||||||||||||||||||||||||||||||||
General and administrative | 297,175 | 263,693 | 323,380 | |||||||||||||||||||||||||||||||||||||||
Sales and marketing | 146,112 | 245,871 | 50,809 | |||||||||||||||||||||||||||||||||||||||
Total stock-based compensation | $ | 915,361 | $ | 943,117 | $ | 455,975 | ||||||||||||||||||||||||||||||||||||
Warrants
Warrants | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | Note 8. Warrants | Note 12. Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have issued certain warrants which contain an exercise price adjustment feature in the event we issue additional equity instruments at a price lower than the exercise price of the warrant. The warrants are described herein as derivative warrants. For all derivative warrants, in the event equity instruments are issued at a price lower than the exercise price of the warrant, the exercise price is adjusted to the price of the new equity instruments issued (price adjustment feature). For certain of these warrants, the number of shares underlying the warrant is also adjusted to an amount computed by dividing the proceeds of the warrant under its original terms by the revised exercise price (share adjustment feature). These warrants are initially recorded as a warrant liability at fair value with a corresponding entry to the loan guarantee fee asset, debt discount, additional paid-in capital or expense dependent upon the service provided in exchange for the warrant grant. Subsequently, any change in fair value is recognized in earnings until such time as the warrants are exercised, amended or expire. | In connection with financing obtained on January 22, 2007, we issued a warrant to purchase 8,865 shares of common stock at an exercise price of $14.10 per share expiring January 22, 2012. This warrant was recorded at estimated fair value using a Black-Scholes valuation model as a $12,854 discount on debt and was subsequently amortized to interest expense. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In connection with the issuance of Series A Preferred Stock on November 14, 2007, we issued to placement agents warrants to purchase 30,000 shares of common stock at an exercise price of $10.75 per share expiring December 31, 2011. We also issued to the same placement agents warrants to purchase 18,616 shares of common stock at an exercise price of $14.10 per share expiring December 31, 2011, subsequently extended to January 2012. These warrants were recorded at an estimated fair value using a Black-Scholes valuation model of $53,685 in additional paid-in capital. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In connection with the 2012 Convertible Debt Financing Transaction, we granted 4,118 warrants to Mr. Pappajohn and 2,941 warrants to Mr. Oman on February 22, 2013. The warrants have a ten-year term and an exercise price equal to the IPO price of $10.00 per share. These warrants were initially recorded at fair value as a financing fee asset and were amortized over the period of the note to interest expense. The issue date fair value of these warrants was $221,000. | In connection with financing obtained on January 31, 2008, we issued a warrant to purchase 3,546 shares of common stock at an exercise price of $14.10 per share expiring January 22, 2012. This warrant was recorded at estimated fair value using a Black-Scholes valuation model as a $3,191 discount on debt which was subsequently amortized to interest expense. The warrant was exercised during 2011 and we received $49,999 of cash proceeds. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In connection with the December 2012 Bridge Financing Transaction, we granted 2,353 ten-year warrants with an exercise price equal to the IPO price of $10.00 per share to Mr. Pappajohn on March 7, 2013. These warrants were initially recorded at fair value as a financing fee asset and were amortized over the period of the note to interest expense. The issue date fair value of these warrants was $47,000. | In connection with the issuance of Series A Preferred Stock on February 4, 2008, we issued to placement agents warrants to purchase 56,829 shares of common stock at an exercise price of $14.10 per share expiring September 10, 2012. The expiration date for 52,439 of the 56,829 warrants was extended by one year to September 30, 2013. These warrants were recorded at an estimated fair value using a Black-Scholes valuation model of $59,671 in additional paid-in capital. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On February 11, 2013, John Pappajohn agreed to limit certain anti-dilution rights in his warrants to purchase shares of the Company’s common stock. Subject to the consummation of an IPO prior to April 13, 2013, Mr. Pappajohn agreed that if the final IPO price was below $15.00, the exercise price of the warrants held by him would adjust to $15.00 and the number of shares underlying the warrants would be adjusted as if the IPO price were $15.00 and then there would be no further adjustment to the price or number of shares covered by warrants held by him. In February 2013, certain warrant holders agreed to waive the price and share adjustment provisions of their warrants, except for the anti-dilution provisions related to stock splits, subdivisions and combinations, with respect to an aggregate of 114,030 shares of common stock underlying such warrants, effective immediately following the consummation of our IPO on April 10, 2013 at $10.00 per share. | In connection with the issuance of Series A Preferred Stock on May 7, 2008, we issued to placement agents warrants to purchase 13,768 shares of common stock at an exercise price of $14.10 per share expiring September 10, 2012. The expiration date for 12,934 of the 13,768 warrants was extended by one year to September 30, 2013. These warrants were recorded at an estimated fair value using a Black-Scholes valuation model of $13,769 in additional paid-in capital. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On April 10, 2013, the Company completed the IPO at $10.00 per share. The shares of common stock issuable upon the exercise of warrants increased by 838,889 shares and the exercise prices of 1,656,860 warrants were adjusted as a result of share and exercise price adjustment features in certain warrants. | Derivative Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On April 29, 2013, the Company received $96,000 from shareholders who exercised warrants to purchase 24,000 shares of common stock at $4.00 per share. | We have issued certain warrants which contain an exercise price adjustment feature in the event we issue additional equity instruments at a price lower than the exercise price of the warrant. The warrants are described herein as derivative warrants. For all derivative warrants, in the event equity instruments are issued at a price lower than the exercise price of the warrant, the exercise price is adjusted to the price of the new equity instruments issued (price adjustment feature). For certain of these warrants, the number of shares underlying the warrant is also adjusted to an amount computed by dividing the proceeds of the warrant under its original terms by the revised exercise price (share adjustment feature). These warrants are initially recorded as a warrant liability at fair value with a corresponding entry to the loan guarantee fee asset, debt discount, additional paid-in capital or expense dependent upon the service provided in exchange for the warrant grant. Subsequently, any change in fair value is recognized in earnings until such time as the warrants are exercised, amended or expire. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In connection with consulting agreements dated April 1, 2010, we issued to consultants warrants to purchase 4,030 and 10,000 shares of common stock at an exercise price of $12.50 per share and $14.10 per share, respectively. These warrants expire on April 1, 2015. These warrants were recorded as an increase to the warrant liability and consulting expense at the estimated fair value on the grant date of $65,000. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the warrant activity for the six months ended June 30, 2013: | In connection with the issuance of Series B Preferred Stock on November 18, 2010, we issued warrants to purchase 52,464 shares of common stock at an exercise price of $25.00 per share expiring November 18, 2015. These warrants were recorded at estimated fair value of $328,000 as a reduction of additional paid-in capital and an increase to the warrant liability. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In connection with debt guarantees and extensions, we issued 1,051,506 warrants to Mr. Pappajohn, a member of our Board of Directors and stockholder, at various dates (see Note 17). These warrants are initially recorded at fair value as a loan guarantee fee amortized over the period of the guarantee to interest expense. The aggregate issue date fair value of the debt guarantee warrants was $1,555,000 in 2012, $831,000 in 2011, and $415,000 in 2010. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In connection with the acquisition of a line of credit, we issued 60,000 warrants to DAM in March 2011 with an initial estimated fair value of $1,019,000. In March 2012 in exchange for an extension of that line we issued 15,000 warrants with an initial estimated fair value of $306,000. See Note 6. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued With / For | Exercise | Warrants | 2013 | 2013 | IPO | Warrants | We issued 200 warrants to a consultant for services provided in February and March 2011 and 4,000 warrants to a member of our Board of Directors in connection with the March 2011 line of credit agreement with DAM. These warrants were recorded as consulting expense at an initial estimated fair value of $69,000 and expire in March 2016. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price | Outstanding | Warrants | Warrants | Adjustments(E) | Outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 1, | Issued | Exercised | June 30, | On September 30, 2011, certain holders of derivative warrants to purchase 228,288 shares of common stock with an exercise price of $4.00 agreed to an amendment to their warrants to remove the exercise price adjustment feature. As of September 30, 2011, the fair value of these warrants of $6,415,000 was reclassified from the warrant liability to equity. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | In connection with the December 2011 Financing Transaction we granted a total of 112,940 warrants at various dates to Mr. Pappajohn, Dr. Pecora and NNJCA. The aggregate issue date fair value of these financing fee warrants was $1,522,000 in 2012 and $951,000 in 2011. In October 2012, 37,646 of these warrants were surrendered in exchange for an increase to the prepayment penalty, and 75,294 were amended in exchange for 20,669 additional warrants with an initial estimated fair value of $606,000. Also in October 2012, Mr. Pappajohn agreed to extend a portion of the debt’s maturity date and in exchange we issued 9,412 additional warrants with an initial estimated fair value of $267,000. See Note 6. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-Derivative Warrants: | In connection with the 2012 Convertible Debt Financing Transaction, we granted a total of 28,235 warrants to Mr. Pappajohn and Mr. Oman with an initial estimated fair value of $1,107,000. In October 2012, these warrants were surrendered in exchange for additional financing and 114,510 new warrants with an initial estimated fair value of $4,090,000. See Note 6. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | $ | 10 | — | — | — | 243,334 | 243,334 | On September 6, 2012, we extended the maturity date of warrants to purchase 70,598 shares of our common stock which were due to expire on September 10, 2012 to September 28, 2012. On September 27, 2012, we extended the maturity date of 65,328 of these warrants to September 10, 2013. In exchange, the warrants are now subject to a lock-up agreement for 180 days after the consummation of an IPO on the same terms as other lock-up agreements in favor of the underwriters of an offering. We determined the fair value of the warrant extensions to be approximately $144,000, which was recorded as general and administrative expense. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 15 | — | — | — | 436,079 | 436,079 | On October 22, 2012, in exchange for amending warrants issued in connection with his guarantee of the Wells Fargo debt, we issued warrants to purchase 10,157 shares of our common stock to Mr. Pappajohn with an exercise price equal to the lesser of (i) $42.50 per share and (ii) the IPO or merger price per share. These warrants were recorded as a financing fee expense at an estimated fair value of $298,000. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 4 | 228,288 | — | (24,000 | ) | — | 204,288 | In connection with the December 2012 Bridge Financing transaction, we granted 23,529 warrants to Mr. Pappajohn with an initial estimated fair value of $837,000. See Note 6. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 10 | — | — | — | 237,500 | 237,500 | During 2012, warrants to purchase 54,910 shares were exercised and $690,227 was received and recorded as increases to common stock and additional paid-in capital. An additional 15,164 warrants expired unexercised. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 15 | — | — | — | 585,645 | 585,645 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A Pref. Stock | 14.1 | 65,329 | — | — | — | 65,329 | The following table summarizes the warrant activity for the years ending December 31, 2012, 2011 and 2010: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 10 | — | — | — | 29,138 | 29,138 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12.30 | F | 293,617 | — | (24,000 | ) | 1,531,696 | 1,801,313 | Issued With / For | Exercise | Warrants | 2010 | Warrants | 2011 | 2011 | 2011 | Warrants | 2012 | 2012 | 2012 | 2012 | Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Warrants: | Price | Outstanding | Warrants | Outstanding | Warrants | Warrants | Warrants | Outstanding | Warrants | Warrants | Warrants | Warrants | Outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 10 | B | — | — | — | 60,000 | 60,000 | January 1, | Issued | December 31, | Issued | Exercised | Amended | December 31, | Issued | Exercised | Surrendered | Expired | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 25 | B | 60,000 | — | — | (60,000 | ) | — | 2010 | 2010 | 2011 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 42.5 | BCD | 75,294 | — | — | (75,294 | ) | — | Debt Guarantee | $ | 4 | — | — | — | — | — | 228,288 | 228,288 | — | — | — | — | 228,288 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 42.5 | AD | 54,314 | 2,941 | — | (57,255 | ) | — | Series A Pref. Stock | 10.75 | 30,000 | — | 30,000 | — | — | — | 30,000 | — | (30,000 | ) | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 42.5 | ACD | 120,865 | 6,471 | — | (127,336 | ) | — | Series A Pref. Stock | 14.1 | 89,214 | — | 89,214 | — | — | — | 89,214 | — | (18,616 | ) | — | (5,269 | ) | 65,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 10 | A | — | — | — | 12,500 | 12,500 | Financing | 14.1 | 12,411 | — | 12,411 | — | (3,546 | ) | — | 8,865 | — | (2,482 | ) | — | (6,383 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 25 | ACD | 212,000 | — | — | (212,000 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 25 | AD | 95,000 | — | — | (95,000 | ) | — | 6.25 | 131,625 | — | 131,625 | — | (3,546 | ) | 228,288 | 356,367 | — | (51,098 | ) | — | (11,652 | ) | 293,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 25 | A | 5,000 | — | — | (5,000 | ) | — | Series A Pref. Stock | 4 | A | 7,325 | — | 7,325 | — | — | — | 7,325 | — | (3,812 | ) | — | (3,513 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 32.45 | ACD | 40,000 | — | — | (40,000 | ) | — | Financing | 25 | B | — | — | — | 60,000 | — | — | 60,000 | — | — | — | — | 60,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 42.5 | ACD | 38,392 | — | — | (38,392 | ) | — | Financing | 42.5 | BCD | — | — | — | 42,353 | — | — | 42,353 | 189,117 | — | (156,176 | ) | — | 75,294 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 42.5 | BCD | 37,000 | — | — | (37,000 | ) | — | Financing | 42.5 | AD | — | — | — | — | — | — | — | 54,314 | — | — | — | 54,314 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Pref. Stock | 10 | B | — | — | — | 52,464 | 52,464 | Financing | 42.5 | ACD | — | — | — | — | — | — | — | 120,865 | — | — | — | 120,865 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Pref. Stock | 25 | B | 52,464 | — | — | (52,464 | ) | — | Debt Guarantee | 25 | A | 228,288 | — | 228,288 | — | — | (228,288 | ) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 10 | B | — | — | — | 200 | 200 | Debt Guarantee | 25 | AC | 140,000 | 72,000 | 212,000 | — | — | — | 212,000 | — | — | — | — | 212,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 12.5 | AD | 4,030 | — | — | (4,030 | ) | — | Debt Guarantee | 25 | A | 100,000 | — | 100,000 | — | — | — | 100,000 | — | — | — | — | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 14.1 | AD | 10,000 | — | — | (10,000 | ) | — | Debt Guarantee | 32.45 | AC | — | — | — | 40,000 | — | — | 40,000 | — | — | — | — | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 25 | B | 200 | — | — | (200 | ) | — | Debt Guarantee | 42.5 | ACD | — | — | — | — | — | — | — | 75,392 | — | (37,000 | ) | — | 38,392 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 25 | AD | 4,000 | — | — | (4,000 | ) | — | Debt Guarantee | 42.5 | BCD | — | — | — | — | — | — | — | 37,000 | — | — | — | 37,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Pref. Stock | 25 | B | — | 52,464 | 52,464 | — | — | — | 52,464 | — | — | — | — | 52,464 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10.00 | F | 808,559 | 9,412 | — | (692,807 | ) | 125,164 | Consulting | 12.5 | A | — | 4,030 | 4,030 | — | — | — | 4,030 | — | — | — | — | 4,030 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 14.1 | A | — | 10,000 | 10,000 | — | — | — | 10,000 | — | — | — | — | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 12.15 | F | 1,102,176 | 9,412 | (24,000 | ) | 838,889 | 1,926,477 | Consulting | 25 | B | — | — | — | 200 | — | — | 200 | — | — | — | — | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 25 | A | — | — | — | 4,000 | — | — | 4,000 | — | — | — | — | 4,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
A | These warrants are subject to fair value accounting and contain exercise price and number of share adjustment features. See Note 9. | 32.22 | 475,613 | 138,494 | 614,107 | 146,553 | — | (228,288 | ) | 532,372 | 476,688 | (3,812 | ) | (193,176 | ) | (3,513 | ) | 808,559 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
B | These warrants are subject to fair value accounting and contain an exercise price adjustment feature. See Note 9. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C | On February 11, 2013, these warrants held by John Pappajohn were amended to limit the adjustment feature(s) to $15.00 per share in an initial public offering (totaling 530,022 warrants). | $ | 25.3 | 607,238 | 138,494 | 745,732 | 146,553 | (3,546 | ) | — | 888,739 | 476,688 | (54,910 | ) | (193,176 | ) | (15,165 | ) | 1,102,176 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
D | The exercise price and/or number of share adjustment features of these warrants expired and are no longer subject to fair value accounting after our initial public offering. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
E | On April 10, 2013 the Company completed the IPO at $10.00 per share. The shares of common stock issuable upon the exercise of warrants outstanding as of June 30, 2013 increased to 1,926,477 shares and the exercise prices of 1,656,860 warrants were adjusted as a result of the share and exercise price adjustment features described above. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
F | Weighted average exercise prices are as of June 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events | A | These warrants are subject to fair value accounting and contain exercise price and number of share adjustment features. See Note 13. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On July 6, 2013, a warrant holder exercised a warrant to purchase 6,000 shares of common stock at an exercise price of $4.00 per share using the net issuance exercise method whereby 2,072 shares were surrendered as payment in full of the exercise price resulting in a net issuance of 3,928 shares. | B | These warrants are subject to fair value accounting and contain an exercise price adjustment feature. See Note 13. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On July 8, 2013, the Company received $96,000 from shareholders who exercised warrants to purchase 24,000 shares of common stock at $4.00 per share. | C | Subsequent to year end, these warrants held by John Pappajohn were amended to limit the adjustment feature(s) to $15.00 per share in an initial public offering (totaling 523,551 warrants). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
D | The exercise price and/or number of share adjustment features of these warrants expire and will no longer be subject to fair value accounting after an initial public offering. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the event the Company completed an equity offering at $10.00 per share, the shares of common stock issuable upon the exercise of warrants outstanding as of December 31, 2012 would increase to 1,919,643 shares as a result of the share adjustment feature described above, after considering the limitation of the share adjustment feature described in the following subsequent events paragraph. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On February 11, 2013, John Pappajohn agreed to limit certain anti-dilution rights in his warrants to purchase shares of the Company’s common stock. Subject to the consummation of an IPO prior to April 13, 2013, Mr. Pappajohn agreed that if the final IPO price is below $15.00, the exercise price of the warrants held by him would adjust to $15.00 and the number of shares underlying the warrants would be adjusted as if the IPO price were $15.00 and then there would be no further adjustment to the price or number of shares covered by warrants held by him. In February 2013, certain warrant holders agreed to waive the price and share adjustment provisions of their warrants, except for the anti-dilution provisions related to stock splits, subdivisions and combinations, with respect to an aggregate of 72,000 shares of common stock underlying such warrants, effective immediately following the consummation of our initial public offering. |
Fair_Value_of_Warrants
Fair Value of Warrants | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Warrants | Note 9. Fair Value of Warrants | Note 13. Fair Value of Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the assumptions used in computing the fair value of derivative warrants subject to fair value accounting at the date of issue during the six months ended June 30, 2013 and 2012 and at June 30, 2013, April 5, 2013 (IPO valuation date) and December 31, 2012. In computing the fair value of the warrants, if the stated exercise price of the warrants exceeded the assumed value of the Company stock at the date the fair value was being computed, the exercise price and number of shares (if applicable) underlying the warrants were adjusted to reflect an assumed trigger of the price and/or share adjustment features related to the applicable warrants: | The following tables summarize the assumptions used in computing the fair value of derivative warrants subject to fair value accounting at the date of issue during the years ended December 31, 2012, 2011 and 2010 and at December 31, 2012 and 2011. In computing the fair value of the warrants, if the stated exercise price of the warrants exceeded the assumed value of the Company stock at the date the fair value was being computed, the exercise price and number of shares (if applicable) underlying the warrants were adjusted to reflect an assumed trigger of the price and/or share adjustment features related to the applicable warrants. Such adjustments were only applicable to 2012 due to the relative price of the warrants and the assumed Company stock price: | |||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | Issued During | As of | As of | As of | As of | |||||||||||||||||||||||||||||||||||||||||||||
the Six | June 30, 2013 | April 5, 2013 | December 31, 2012 | December 31, | ||||||||||||||||||||||||||||||||||||||||||||||
Months Ended | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2012 | Series A | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 42.5 | $ | 10 | $ | 13.56 | $ | 9.6 | Exercise Price | $ | 4 | |||||||||||||||||||||||||||||||||||||||
Expected life (years) | 4.73 | 1.33 | 2.42 | 2.66 | Expected life (years) | 0.83 | ||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 80.47 | % | 56.12 | % | 66.37 | % | 67.71 | % | Expected volatility | 64.13 | % | |||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.9 | % | 0.15 | % | 0.32 | % | 0.37 | % | Risk-free interest rate | 0.12 | % | |||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | Expected dividend yield | 0 | % | |||||||||||||||||||||||||||||||||||||||
Series B | As of | As of | Issued During | As of | ||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2013 | December 31, 2012 | the Year Ended | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 10 | $ | 9.6 | December 31, | |||||||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 2.42 | 2.92 | 2012 | 2011 | 2010 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 62.22 | % | 61.44 | % | Debt Guarantee | |||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.36 | % | 0.36 | % | Exercise Price | $ | 9.6 | $ | 32.45 | $ | 25 | $ | 28.78 | $ | 25.85 | |||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | Expected life (years) | 4.66 | 5 | 5.42 | 2.66 | 3.26 | ||||||||||||||||||||||||||||||||||||||||
Expected volatility | 80.05 | % | 77.35 | % | 79.37 | % | 67.71 | % | 76.53 | % | ||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.82 | % | 1.76 | % | 1.6 | % | 0.37 | % | 0.51 | % | ||||||||||||||||||||||||||||||||||||||||
Consulting | As of | As of | As of | Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||||||||||||||||||||||||||
June 30, 2013 | April 5, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 10 | $ | 10 | $ | 9.6 | ||||||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 2.65 | 2.33 | 2.48 | Issued During | As of December 31, | |||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 60.7 | % | 63.2 | % | 63.29 | % | the Year Ended | |||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.66 | % | 0.27 | % | 0.28 | % | December 31, 2010 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | Series B | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 25 | $ | 9.6 | $ | 25 | ||||||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 5 | 2.92 | 3.92 | |||||||||||||||||||||||||||||||||||||||||||||||
Issued During the Six Months Ended | Issued During the | As of June 30, | As of April 5, | As of December 31, | Expected volatility | 80.22 | % | 61.44 | % | 81.59 | % | |||||||||||||||||||||||||||||||||||||||
June 30, | Three Months | 2013 | 2013 | 2012 | Risk-free interest rate | 1.51 | % | 0.36 | % | 0.36 | % | |||||||||||||||||||||||||||||||||||||||
Ended | Expected dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Financing | 2013 | 2012 | June 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 13.34 | $ | 42.5 | $ | 42.5 | $ | 10 | $ | 13.21 | $ | 9.6 | ||||||||||||||||||||||||||||||||||||||
Expected life (years) | 9.78 | 4.84 | 4.91 | 2.75 | 8.3 | 6.66 | Issued During | As of December 31, | ||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 74.7 | % | 79.43 | % | 79.52 | % | 60.95 | % | 73.22 | % | 73.38 | % | the Year Ended | |||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 1.95 | % | 0.84 | % | 0.89 | % | 0.66 | % | 1.44 | % | 1.06 | % | December 31, | |||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 2011 | 2010 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||
The assumed Company stock price used in computing the warrant fair value for warrants issued during the six months ended June 30, 2013 was $9.60 – $9.96 and $29.85 – $33.80 for the six months ended June 30, 2012. In determining the fair value of warrants issued at each reporting date, the assumed Company stock price was $9.96 at June 30, 2013 and $9.60 at December 31, 2012. | Consulting | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the derivative warrant activity subject to fair value accounting for the six months ended June 30, 2013: | Exercise Price | $ | 25 | $ | 13.65 | $ | 9.6 | $ | 16.25 | |||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 5 | 5 | 2.48 | 3.48 | ||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 78.45 | % | 81.12 | % | 63.29 | % | 81.87 | % | ||||||||||||||||||||||||||||||||||||||||||
Issued with/for | Fair value of | Fair value | Reclassification | Change in | Fair value of | Risk-free interest rate | 2.07 | % | 2.59 | % | 0.28 | % | 0.47 | % | ||||||||||||||||||||||||||||||||||||
warrants | of warrants | to equity in | fair value | warrants | Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
outstanding as of | issued | IPO | of warrants | outstanding as of | ||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | June 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock | $ | 230,000 | $ | — | $ | — | $ | (12,000 | ) | $ | 218,000 | Issued During | As of December 31, | |||||||||||||||||||||||||||||||||||||
Debt Guarantee | 5,679,000 | — | (2,514,000 | ) | (3,129,000 | ) | 36,000 | the Year Ended | ||||||||||||||||||||||||||||||||||||||||||
Consulting | 147,000 | — | (108,000 | ) | (38,000 | ) | 1,000 | December 31, | ||||||||||||||||||||||||||||||||||||||||||
Financing | 6,493,000 | 268,000 | (4,548,000 | ) | (1,950,000 | ) | 263,000 | 2012 | 2011 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Financing | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 12,549,000 | $ | 268,000 | $ | (7,170,000 | ) | $ | (5,129,000 | ) | $ | 518,000 | Exercise Price | $ | 23.69 | $ | 32.25 | $ | 9.6 | $ | 32.25 | ||||||||||||||||||||||||||||||
Expected life (years) | 6.81 | 5.01 | 6.66 | 4.56 | ||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 77.74 | % | 78.45 | % | 73.38 | % | 79.4 | % | ||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 1.19 | % | 1.59 | % | 1.06 | % | 0.83 | % | ||||||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||||||||||||||||||||||||||||||||
The assumed Company stock price used in computing the warrant fair value for warrants issued during the year is as follows: 2012—$9.60—$33.80; 2011—$ 11.90—$33.80; 2010—$4.80—$11.90. In determining the fair value of warrants issued at each reporting date, the assumed Company stock price was $9.60 at December 31, 2012 and $33.80 at December 31, 2011. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the derivative warrant activity subject to fair value accounting for the years ended December 31, 2012, 2011 and 2010: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Issued with | Issued with | Issued For | Issued For | Issued For | Total | |||||||||||||||||||||||||||||||||||||||||||||
Series A | Series B | Debt | Consulting | Financing | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred | Preferred | Guarantee | ||||||||||||||||||||||||||||||||||||||||||||||||
Stock | Stock | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants outstanding as of January 1, 2010 | $ | 27,000 | $ | — | $ | 1,409,000 | $ | — | $ | — | $ | 1,436,000 | ||||||||||||||||||||||||||||||||||||||
Fair value of warrants issued | — | 328,000 | 415,000 | 65,000 | — | 808,000 | ||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of warrants | 36,000 | (14,000 | ) | 1,969,000 | 35,000 | — | 2,026,000 | |||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants outstanding as of December 31, 2010 | 63,000 | 314,000 | 3,793,000 | 100,000 | — | 4,270,000 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants issued | — | — | 831,000 | 69,000 | 1,970,000 | 2,870,000 | ||||||||||||||||||||||||||||||||||||||||||||
Warrants amended | — | — | (6,415,000 | ) | — | — | (6,415,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Change in fair value of warrants | 157,000 | 846,000 | 8,784,000 | 278,000 | 323,000 | 10,388,000 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants outstanding as of December 31, 2011 | 220,000 | 1,160,000 | 6,993,000 | 447,000 | 2,293,000 | 11,113,000 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants issued | — | — | 1,583,000 | — | 4,961,000 | 6,544,000 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants exercised | (55,000 | ) | — | — | — | — | (55,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Warrant restructuring | — | — | 268,000 | — | 2,217,000 | 2,485,000 | ||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of warrants | (165,000 | ) | (930,000 | ) | (3,165,000 | ) | (300,000 | ) | (2,978,000 | ) | (7,538,000 | ) | ||||||||||||||||||||||||||||||||||||||
Fair value of warrants outstanding as of December 31, 2012 | $ | — | $ | 230,000 | $ | 5,679,000 | $ | 147,000 | $ | 6,493,000 | $ | 12,549,000 | ||||||||||||||||||||||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||
Fair Value Measurements | Note 10. Fair Value Measurements | Note 14. Fair Value Measurements | ||||||||||||||||||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, the Topic establishes a fair value hierarchy for valuation inputs that give the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, the Topic establishes a fair value hierarchy for valuation inputs that give the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. | |||||||||||||||||||||||||||||||||
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that we have the ability to access as of the measurement date. | The fair value hierarchy is as follows: | |||||||||||||||||||||||||||||||||
Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. | Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that we have the ability to access as of the measurement date. | |||||||||||||||||||||||||||||||||
Level 3: Significant unobservable inputs that reflect our own assumptions about the assumptions that market participants would use in pricing an asset or liability. | Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||||||||||||||||||
The following table summarizes the financial liabilities measured at fair value on a recurring basis segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: | Level 3: Significant unobservable inputs that reflect our own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||||||||||||||||||
The following table summarizes the financial liabilities measured at fair value on a recurring basis segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: | ||||||||||||||||||||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | |||||||||||||||||||||||||||||||
Active Markets for | Observable | Unobservable | 2012 | |||||||||||||||||||||||||||||||
Identical Assets | Inputs | Inputs | Total | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Active Markets for | Observable | Unobservable | |||||||||||||||||||||||||||||
Warrant liability | $ | 518,000 | — | — | $ | 518,000 | Identical Assets | Inputs | Inputs | |||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||||||||
December 31, 2012 | Warrant liability | $ | 12,549,000 | — | — | $ | 12,549,000 | |||||||||||||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | |||||||||||||||||||||||||||||||
Active Markets for | Observable | Unobservable | ||||||||||||||||||||||||||||||||
Identical Assets | Inputs | Inputs | 2011 | |||||||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||||||||||||
Warrant liability | $ | 12,549,000 | — | — | $ | 12,549,000 | Active Markets for | Observable | Unobservable | |||||||||||||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||||||||||||||||||||
The warrant liability consists of stock warrants we issued that contain an exercise price adjustment feature. In accordance with derivative accounting for warrants, we calculated the fair value of warrants and the assumptions used are described in Note 9, “Fair Value of Warrants”. Realized and unrealized gains and losses related to the change in fair value of the warrant liability are included in Other income (expense) on the Statement of Operations. | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||||||||
The following table reflects the activity for liabilities measured at fair value using Level 3 inputs for the six months ended June 30: | Warrant liability | $ | 11,113,000 | — | — | $ | 11,113,000 | |||||||||||||||||||||||||||
The warrant liability consists of stock warrants we issued that contain an exercise price adjustment feature. In accordance with derivative accounting for warrants, we calculated the fair value of warrants and the assumptions used are described in Note 13, “Fair Value of Warrants”. Realized and unrealized gains and losses related to the change in fair value of the warrant liability are included in Other income (expense) on the Statement of Operations. | ||||||||||||||||||||||||||||||||||
2013 | 2012 | The following table reflects the activity for liabilities measured at fair value using Level 3 inputs for the year ended December 31: | ||||||||||||||||||||||||||||||||
Balance as of January 1 | $ | 12,549,000 | $ | 11,113,000 | ||||||||||||||||||||||||||||||
Issuances of derivative financial instruments | 268,000 | 2,296,000 | ||||||||||||||||||||||||||||||||
Derivative financial instruments reclassified to equity in IPO | (7,170,000 | ) | 2012 | 2011 | ||||||||||||||||||||||||||||||
Unrealized (gain) loss related to change in fair value | (5,129,000 | ) | (3,036,000 | ) | Balance as of January 1 | $ | 11,113,000 | $ | 4,270,000 | |||||||||||||||||||||||||
Derivative financial instruments reclassified to equity upon amendment | — | (6,415,000 | ) | |||||||||||||||||||||||||||||||
Balance as of June 30 | $ | 518,000 | $ | 10,373,000 | Issuances of derivative financial instruments | 6,544,000 | 2,870,000 | |||||||||||||||||||||||||||
Warrant restructuring | 2,485,000 | — | ||||||||||||||||||||||||||||||||
Warrant exercised | (55,000 | ) | — | |||||||||||||||||||||||||||||||
Unrealized (gain) loss related to change in fair value | (7,538,000 | ) | 10,388,000 | |||||||||||||||||||||||||||||||
Balance as of December 31 | $ | 12,549,000 | $ | 11,113,000 | ||||||||||||||||||||||||||||||
Joint_Venture_Agreement
Joint Venture Agreement | 6 Months Ended | 12 Months Ended |
Jun. 30, 2013 | Dec. 31, 2012 | |
Equity Method Investments And Joint Ventures [Abstract] | ||
Joint Venture Agreement | Note 11. Joint Venture Agreement | Note 16. Joint Venture Agreement |
In November 2011, we entered into an affiliation agreement with the Mayo Foundation for Medical Education and Research (“Mayo”) pursuant to which we agreed to form a joint venture with Mayo in May 2013 (to be funded by July 31, 2013 or such later date that we may negotiate with Mayo). The joint venture will take the form of a limited liability company, with each party initially holding fifty percent of the issued and outstanding membership interests of the new entity (the “JV”). In exchange for the membership interests in the JV, we will make capital contributions of $1.0 million (and potentially up to $6.0 million, subject to the joint venture entity’s achievement of certain operational milestones) over the next three years. In exchange for its membership interests, Mayo’s capital contribution will take the form of cash, staff, services, hardware and software resources, laboratory space and instrumentation, the fair market value of which will be approximately equal to $6 million. Mayo’s continued contribution will also be conditioned upon the JV’s achievement of certain milestones. We are currently negotiating an amendment to our agreement to fund the joint venture to extend the dates and our payment schedule. | On November 7, 2011, we entered into an agreement with the Mayo Foundation for Medical Education and Research (“Mayo”) pursuant to which we agreed to form a joint venture with Mayo in August 2012 (subsequently extended to March 31, 2013). The joint venture will take the form of a limited liability company, with each party initially holding fifty percent of the issued and outstanding membership interests of the new entity (the “JV”). In exchange for the membership interests in the JV, we will make a capital contribution of $6 million, to be paid over a three year period. In exchange for its membership interests, Mayo’s capital contribution will take the form of cash, staff, services, hardware and software resources, laboratory space and instrumentation, the fair market value of which will be approximately equal to $6 million. Mayo’s continued contribution will also be conditioned upon the JV’s achievement of certain milestones. In addition, on November 14, 2011, without any additional consideration, we granted Mayo 20,000 shares of our common stock, 13,200 of which shall initially be subject to certain forfeiture restrictions if the joint venture does not meet certain milestones. We applied accounting for share-based payments to non-employees and determined that a performance commitment for the 13,200 shares subject to restriction was not present at the date of grant and therefore the remaining shares will be valued and expensed as the restrictions lapse. We recorded expense of $150,000 during the fourth quarter of 2011 related to the 6,800 shares that were fully vested at the date of grant. |
Related_Party_Transactions
Related Party Transactions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2013 | Dec. 31, 2012 | |
Related Party Transactions [Abstract] | ||
Related Party Transactions | Note 12. Related Party Transactions | Note 17. Related Party Transactions |
John Pappajohn, a member of the Board of Directors and stockholder, personally guarantees our revolving line of credit with Wells Fargo Bank. As consideration for his guarantee, as well as each of the eight extensions of this facility through June 30, 2013, Mr. Pappajohn received warrants to purchase an aggregate of 1,051,506 shares of common stock of which Mr. Pappajohn assigned warrants to purchase 284,000 shares of common stock to certain third parties. Warrants to purchase 395,825 shares of common stock have been exercised by Mr. Pappajohn through June 30, 2013. After adjustment pursuant to the terms of the warrants in conjunction with our IPO, the number of these warrants outstanding retained by Mr. Pappajohn was 585,645 at $15.00 per share and 44,288 at $4.00 per share. | John Pappajohn, a member of the Board of Directors and stockholder, personally guarantees our revolving line of credit with Wells Fargo Bank. As consideration for his guarantee, as well as each of the eight extensions of this facility through December 31, 2012, Mr. Pappajohn received warrants to purchase an aggregate of 1,051,506 shares of common stock (See Notes 6 and 12). | |
In addition, John Pappajohn also has loaned us an aggregate of $6,750,000. In connection with these loans, Mr. Pappajohn received warrants to purchase an aggregate of 202,630 shares of common stock. After adjustment pursuant to the terms of the warrants in conjunction with our IPO, the number of warrants outstanding was 436,079 at $15.00 per share at June 30, 2013. | In addition, John Pappajohn also has loaned us an aggregate of $6,750,000. In connection with these loans, Mr. Pappajohn received warrants to purchase an aggregate of 196,159 shares of common stock. In October 2012, we recorded a debt and warrant restructuring charge of $2,319,512 related to our loan with Mr. Pappajohn and Mr. Oman and warrants with Mr. Pappajohn (See Notes 6 and 12). | |
As of June 30, 2013 we had $1.5 million outstanding under a Credit Agreement dated as of December 21, 2011, as amended and restated as of February 13, 2012. Andrew Pecora (indirectly through an investment company), a member of our board of directors, and NNJCA, a limited liability company of which Dr. Pecora is a member originally provided $1.5 million and $500,000 of financing, respectively. On April 10, 2013, NNJCA converted $500,000 of its outstanding indebtedness into 50,000 shares of our common stock at the IPO price of $10.00 per share concurrent with our IPO. | On May 19, 2006, we issued a convertible promissory note in favor of our Chairman and founder, Dr. Chaganti, the holder, which obligates us to pay the holder the sum of $100,000, together with interest at the rate of 8.5% per annum, on demand of the holder. Interest expense totaled $8,400, $8,400, and $8,416 for the years ended December 31, 2012, 2011, and 2010, respectively. On September 7, 2011, the promissory note was amended to extend its due date to December 31, 2012 and to eliminate any equity conversion feature. In October 2012, we extended the maturity date until April 1, 2014 (see Note 6 for additional information and subsequent event). | |
The loan bears an annual interest rate equal to the prime rate plus 6.25% (9.50% at June 30, 2013) with the remaining $1.5 million maturing August 15, 2013. We had accrued a fee due to Pecora and NNJCA of $130,000 of which $50,527 was paid upon conversion of the notes. The loan is secured by all of our assets, including our intellectual property, subject to prior first and second liens in favor of Wells Fargo Bank and DAM Holdings, LLC (“DAM”). Pursuant to an intercreditor agreement, the lenders have agreed that all amounts due to DAM are to be paid prior to payment to the lenders under this Credit Agreement, but that as between such lenders, following an event of default, all of the security granted by us is to be applied first to repay obligations due to Dr. Pecora and NNJCA, and then to Mr. Pappajohn after they have been paid in full. As Mr. Pappajohn has guaranteed the Wells Fargo debt, in essence under the intercreditor agreement, NNJCA and Dr. Pecora will be junior only to DAM. | On December 27, 2006, we issued a convertible promissory note in favor of our former Chief Executive Officer, the holder, which obligated us to pay the holder the sum of $40,000, together with interest at the rate of 8.5% per annum, on demand of the holder. Pursuant to the terms of the separation agreement between us, we issued a lump sum payment of $120,000 to the holder upon termination of his employment and the holder released us from any claims, including any claim for repayment of this note. Interest expense totaled $0, $0, and $1,407 for the years ended December 31, 2012, 2011, and 2010, respectively, and accrued interest totaled $0 as of December 31, 2012 and 2011, respectively. | |
On June 19, 2009, we entered into agreements with TSG Partners, LLC (“TSG”) pursuant to which TSG agreed to provide us with strategic consulting services. Our current Chief Executive Officer, Panna Sharma, was the managing partner, founder and majority owner of TSG and was actively involved in the consulting services provided pursuant to such consulting agreement. We compensated TSG an aggregate of $97,575 (excluding expenses) in 2010, and $0 in 2011 and 2012. On September 23, 2010, we entered into a three-month consulting agreement with TSG for a fixed fee of $60,000 ($45,000 of which was payable in cash and $15,000 was payable in warrants) plus up to $5,000 of expenses. As of December 31, 2012 and 2011, we had no amount due to TSG. The three-month consulting agreement between us and TSG was reduced in scope and a revised total payment of $22,500 (excluding expenses) was paid in cash and no warrants were issued. While Mr. Sharma retains a majority ownership position with TSG, pursuant to certain agreements between Mr. Sharma and TSG, Mr. Sharma did not and will not profit from the services provided under such agreement. | ||
On May 19, 2006, we issued a convertible promissory note in favor of our Chairman and founder, Dr. Chaganti, the holder, which obligates us to pay the holder the sum of $100,000, together with interest at the rate of 8.5% per annum, due April 1, 2014. Interest expense for the six months ended June 30, 2013 and 2012 totaled $2,357 and $4,200, respectively. (see Note 4 for additional information regarding the conversion of the promissory note into common stock concurrent with our IPO on April 10, 2013.). Pursuant to a consulting and advisory agreement, Dr. Chaganti also received options to purchase a total of 36,000 shares of common stock at price of $10.00 per share which vested over a two year period. Total non-cash stock-based compensation recognized under the consulting agreement for the six months ended June 30, 2013 and 2012 were $54,650 and $254,500, respectively. Additionally, we entered into a three-year consulting agreement with Dr. Chaganti expiring on September 30, 2013 pursuant to which Dr. Chaganti receives $5,000 per month for providing consulting and technical support services. Total expenses for each of the six month periods ended June 30, 2013 and 2012 were $30,000. | On January 10, 2010, we issued a convertible promissory note in favor of our Senior Scientific Officer, Dr. Houldsworth, the holder, which obligates us to pay the holder the sum of $55,000, together with interest at the rate of 5.5% per annum, on or before January 10, 2011. The $55,000 represents fees owed to Dr. Houldsworth pursuant to our consulting agreement with Dr. Houldsworth. We repaid the $55,000, plus interest in the amount of $970 in 2010. | |
On August 15, 2010, we entered into a two-year consulting agreement with Dr. Pecora, a member of our board of directors, pursuant to which Dr. Pecora received $5,000 per month for providing consulting and advisory services. Dr. Pecora also received stock options under the consulting and advisory agreement to purchase a total of 12,000 shares of common stock at price of $10.00 per share which vested over a two year period. The cash component of this agreement was terminated by mutual consent in 2011. Total non-cash stock-based compensation recognized under the consulting agreement for the six months ended June 30, 2013 and 2012 were $0 and $112,320, respectively. | On July 1, 2010, we entered into a one-year consulting agreement with Edmund Cannon, a member of our board of directors, pursuant to which Mr. Cannon received $2,000 per calendar quarter for providing consulting services to us in connection with our clinical lab business. The agreement was terminated in 2011. Total expense under the consulting agreement was $4,000 in each 2011 and 2010. | |
In August 2010, we entered into a consulting agreement with Equity Dynamics, Inc., an entity controlled by John Pappajohn, pursuant to which Equity Dynamics, Inc. receives a monthly fee of $10,000 plus reimbursement of expenses. Total consulting fees for each of the six month periods ended June 30, 2013 and 2012 were $60,000. As of June 30, 2013, we owed Equity Dynamics, Inc. $86,917. | On August 15, 2010, we entered into a two-year consulting agreement with Dr. Pecora, a member of our board of directors, pursuant to which Dr. Pecora receives $5,000 per month for providing consulting and advisory services. Dr. Pecora also received stock options under the consulting and advisory agreement to purchase a total of 20,000 shares of common stock at price of $25.00 per share which vests over a two year period. Total expense for 2010 under the consulting agreement was $20,000 paid in cash and $27,200 expensed under the stock option plan. Total expense for 2011 under the consulting agreement was $45,000 paid in cash and $235,560 expensed under the stock option plan. The cash component of this agreement was terminated by mutual consent in August 2011. Total expenses for 2012 under the consulting agreement were $142,740 expensed under the stock option plan. | |
In August 2010, we entered into a consulting agreement with Equity Dynamics, Inc., an entity controlled by John Pappajohn, pursuant to which Equity Dynamics, Inc. receives a monthly fee of $10,000 plus reimbursement of expenses. Total expenses for 2012 under the consulting agreement were $120,000. As of December 31, 2012, we owed Equity Dynamics, Inc. $132,679. | ||
On September 15, 2010, we entered into a three-year consulting agreement with Dr. Chaganti, our Chairman, pursuant to which Dr. Chaganti receives $5,000 per month for providing consulting and technical support services. In addition, Dr. Chaganti received a non-qualified stock option to purchase 60,000 shares of common stock at a purchase price of $25.00 per share vesting quarterly beginning October 1, 2010. Also pursuant to the consulting agreement, Dr. Chaganti assigned to us all rights to any inventions which he may invent during the course of rendering consulting services to us. In exchange for this assignment, if the USPTO issues a patent for an invention on which Dr. Chaganti is listed as an inventor, we are required to pay Dr. Chaganti (i) a one-time payment of $50,000 and (ii) 1% of any net revenues we receive from any licensed sales of the invention. | ||
We issued 4,000 warrants to Mr. Thompson, a member of our Board of Directors in connection with the March 2011 line of credit agreement with DAM. These warrants were recorded as consulting expense at an initial estimated fair value of $69,000 and expire in March 2016. | ||
In February 2012, we granted 28,235 warrants proportionately to Pecora and NNJCA upon their funding of $0.5 million and $1.5 million, respectively, under a new Credit Agreement. (See Notes 6 and 12) On May 15, 2012 and on August 14, 2012, we issued 4,706 of these warrants proportionately to Pecora and NNJCA (Notes 6 and 12). On October 15, 2012, Dr. Pecora and NNJCA agreed to surrender warrants to purchase an aggregate of 37,646 shares of our common stock issued in connection with this transaction in exchange for an amendment to increase the pre-payment penalties by $130,000. |
Contingencies
Contingencies | 6 Months Ended | 12 Months Ended |
Jun. 30, 2013 | Dec. 31, 2012 | |
Commitments And Contingencies Disclosure [Abstract] | ||
Contingencies | Note 13. Contingencies | Note 15. Contingencies |
In the normal course of business, the Company may become involved in various claims and legal proceedings. In the opinion of management, the ultimate liability or disposition thereof is not expected to have a material adverse effect on our financial condition, results of operations, or liquidity. | In the normal course of business, the Company is involved in various claims and legal proceedings. In the opinion of management, the ultimate liability or disposition thereof is not expected to have a material adverse effect on our financial condition, results of operations or liquidity. | |
From 2000 to 2004, we operated a clinical laboratory in Milford, Massachusetts providing cancer screening services. The clinical laboratory participated in the Medicare program. The Office of the Inspector General of the U.S. Department of Health and Human Services and the United States Department of Justice informed us in February 2009 that they were contemplating commencing a civil False Claims Act action against us with respect to certain alleged improper billing practices and overpayments relating to operations at the Milford, Massachusetts clinical laboratory. In January 2012, we executed a settlement agreement with the United States Department of Justice. Pursuant to the settlement agreement, we neither admitted liability nor conceded that the claims of the United States are well founded. In January 2012, we paid to the United States the sum of $1,000,000. At December 31, 2011, we accrued approximately $1,000,000 in connection with the investigation. We received $400,000 in December 2011 from our insurance carrier related to this matter. The net amount shown in our statement of operations is a net recovery of $200,000 in 2011 and an expense of $800,000 in 2010. |
Other_Current_Assets
Other Current Assets | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |||||||||
Other Current Assets | Note 4. Other Current Assets | ||||||||
At December 31, 2012 and 2011, other current assets consisted of the following: | |||||||||
2012 | 2011 | ||||||||
Inventory probes and arrays | $ | 233,767 | $ | 203,507 | |||||
Prepaid expenses | 255,511 | 65,762 | |||||||
$ | 489,278 | $ | 269,269 | ||||||
Lease_Commitments
Lease Commitments | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Text Block [Abstract] | |||||||||||||
Lease Commitments | Note 5. Lease Commitments | ||||||||||||
We lease our laboratory and research facilities and administrative office space in Rutherford, New Jersey under an escalating lease agreement that expires on October 6, 2017. The lease requires monthly rent for 10 years with periodic rent increases that vary from $1 to $2 per square foot of the rented premises per year. The difference between minimum rent and straight-line rent is recorded as deferred rent payable. The terms of the lease require that a $450,000 security deposit for the facility be held in a stand by letter of credit held in favor of the landlord (see Note 7). | |||||||||||||
We acquired office and scientific equipment under long term leases which have been capitalized at the present value of the minimum lease payments. The equipment under these capital leases had a cost of $49,601 and accumulated depreciation of $16,534, as of December 31, 2012. | |||||||||||||
Minimum future lease payments under all capital and operating leases as of December 31, 2012 are as follows: | |||||||||||||
Capital | Operating | Total | |||||||||||
Leases | Leases | ||||||||||||
December 31, | |||||||||||||
2013 | $ | 18,275 | $ | 560,468 | $ | 578,743 | |||||||
2014 | 7,614 | 593,351 | 600,965 | ||||||||||
2015 | — | 604,581 | 604,581 | ||||||||||
2016 | — | 567,000 | 567,000 | ||||||||||
2017 | — | 567,001 | 567,001 | ||||||||||
Thereafter | — | 49,100 | 49,100 | ||||||||||
Total minimum lease payments | 25,889 | $ | 2,941,501 | $ | 2,967,390 | ||||||||
Less amount representing interest | 1,241 | ||||||||||||
Present value of net minimum obligations | 24,648 | ||||||||||||
Less current obligation under capital lease | 17,158 | ||||||||||||
Long-term obligation under capital lease | $ | 7,490 | |||||||||||
Rent expense for the years ended December 31, 2012, 2011 and 2010 was $516,173, $517,667, and $546,169, respectively. |
Fixed_Assets
Fixed Assets | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Property Plant And Equipment [Abstract] | |||||||||
Fixed Assets | Note 8. Fixed Assets | ||||||||
Fixed assets are summarized by major classifications as follows: | |||||||||
2012 | 2011 | ||||||||
Equipment | $ | 1,914,215 | $ | 1,752,398 | |||||
Furniture | 461,119 | 461,119 | |||||||
Leasehold improvements | 583,592 | 583,592 | |||||||
2,958,926 | 2,797,109 | ||||||||
Less accumulated depreciation | (1,994,003 | ) | (1,656,473 | ) | |||||
Net fixed assets | $ | 964,923 | $ | 1,140,636 | |||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||
Income Taxes | Note 9. Income Taxes | ||||||||||||||||||||||||
The provision for income taxes for the years ended December 31, 2012, 2011 and 2010 differs from the approximate amount of income tax benefit determined by applying the U.S. federal income tax rate to pre-tax loss, due to the following: | |||||||||||||||||||||||||
For the Year Ended | For the Year Ended | For the Year Ended | |||||||||||||||||||||||
December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||||||||||||||||
Amount | % of | Amount | % of | Amount | % of | ||||||||||||||||||||
Pretax | Pretax | Pretax | |||||||||||||||||||||||
Loss | Loss | Loss | |||||||||||||||||||||||
Income tax benefit at federal statutory rate | $ | (2,333,000 | ) | 35 | % | $ | (6,960,000 | ) | 35 | % | $ | (2,943,000 | ) | 35 | % | ||||||||||
State tax provision, net of federal tax benefit | (661,000 | ) | 9.5 | % | (604,000 | ) | 3 | % | (437,000 | ) | 5.2 | % | |||||||||||||
Tax credits | (82,000 | ) | 1.1 | % | (57,000 | ) | 0.3 | % | (26,000 | ) | 0.3 | % | |||||||||||||
Stock option permanent differences | 85,000 | -1.2 | % | 43,000 | -0.2 | % | 33,000 | -0.4 | % | ||||||||||||||||
Derivative warrant permanent differences | (1,926,000 | ) | 26 | % | 3,636,000 | -18.2 | % | 16,000 | -0.2 | % | |||||||||||||||
Change in valuation allowance | 4,858,000 | -70.2 | % | 5,320,000 | -26.8 | % | 2,543,000 | -30.3 | % | ||||||||||||||||
Change in uncertain tax positions | — | 0 | % | (1,395,000 | ) | 7 | % | 1,003,000 | -11.9 | % | |||||||||||||||
Other | 59,000 | -0.2 | % | 17,000 | -0.1 | % | (189,000 | ) | 2.3 | % | |||||||||||||||
Provision for income taxes | $ | — | 0 | % | $ | — | 0 | % | $ | — | 0 | % | |||||||||||||
Approximate deferred taxes consist of the following components as of December 31, 2012 and 2011: | |||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Net operating loss carryforwards | $ | 15,134,000 | $ | 10,575,000 | |||||||||||||||||||||
Accruals and reserves | 486,000 | 568,000 | |||||||||||||||||||||||
Non-qualified stock options | 844,000 | 575,000 | |||||||||||||||||||||||
Research and development tax credits | 477,000 | 395,000 | |||||||||||||||||||||||
Derivative warrant liability | 26,000 | 26,000 | |||||||||||||||||||||||
Other | 7,000 | 9,000 | |||||||||||||||||||||||
Total deferred tax assets | 16,974,000 | 12,148,000 | |||||||||||||||||||||||
Less valuation allowance | (16,947,000 | ) | (12,089,000 | ) | |||||||||||||||||||||
Net deferred tax assets | 27,000 | 59,000 | |||||||||||||||||||||||
Deferred tax liabilities | |||||||||||||||||||||||||
Fixed assets | (27,000 | ) | (59,000 | ) | |||||||||||||||||||||
Net deferred taxes | $ | — | $ | — | |||||||||||||||||||||
Due to a history of losses we have generated since inception, we believe it is more-likely-than-not that all of the deferred tax assets will not be realized as of December 31, 2012 and 2011. Therefore, we have recorded a full valuation allowance on our deferred tax assets. We have net operating loss carryforwards for federal income tax purposes of approximately $38,000,000 as of December 31, 2012. The net operating loss carryforwards will begin to expire in 2027. Utilization of these carryforwards is subject to limitations due to ownership changes that may delay the utilization of a portion of the carryforwards. | |||||||||||||||||||||||||
In January 2013, the Company received approval from the State of New Jersey to sell $8,018,107 of gross state NOL carryforwards and executed a sale of such carryforwards, resulting in the receipt of $663,900. The Company transferred the NOL carryforwards through the Technology Business Tax Certificate Transfer Program sponsored by the New Jersey Economic Development Authority. The amount of cash received from this sale will be recognized in the first quarter of 2013. | |||||||||||||||||||||||||
Uncertain Tax Positions: At December 31, 2012 and 2011 we had no uncertain tax positions. The aggregate changes in the balance of unrecognized tax benefits were as follows: | |||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Balance, beginning of year | $ | — | $ | 1,395,000 | |||||||||||||||||||||
Changes in expected tax position | — | (1,395,000 | ) | ||||||||||||||||||||||
Balance, end of year | $ | — | $ | — | |||||||||||||||||||||
During 2011, we changed a tax position that was expected to be taken on future tax returns related to stock-based compensation to non-employees which reduced our unrecognized tax benefits to zero at December 31, 2011. Therefore, at December 31, 2012 and 2011 we had no uncertain tax positions. |
Liquidity_and_Going_Concern
Liquidity and Going Concern | 12 Months Ended |
Dec. 31, 2012 | |
Text Block [Abstract] | |
Liquidity and Going Concern | Note 18. Liquidity and Going Concern |
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of December 31, 2012, we had cash and cash equivalents of $819,000 and a working capital deficit of $9.6 million. We have filed a Form S-1 with the Securities and Exchange Commission and are currently seeking funding in an IPO of our common stock. We believe our current cash resources, are sufficient to satisfy our liquidity requirements at our current level of operations only through March 31, 2013. If we do not consummate this offering prior to the end of March 2013, we expect that we will need to raise additional financing in the second quarter of 2013, which might not be available on favorable terms, if at all. We have received an oral commitment from Mr. Pappajohn to help us raise, or provide additional funding, should it become necessary to fund our operations for another quarter in order to allow us time to pursue discussions with potential private investors and strategic partners for raising additional capital privately. During the period, we would scale back our general and administrative activities and certain of our research and development activities. We can provide no assurances that any additional sources of financing will be available to us on favorable terms, if at all. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||
Basis of presentation | Basis of presentation: The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions for interim reporting as they are prescribed by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2012 that are included in our prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on April 5, 2013 (Prospectus). The consolidated balance sheet as of December 31, 2012, included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP. Interim financial results are not necessarily indicative of the results that may be expected for future interim periods or for the year ending December 31, 2013. | Basis of presentation: We prepare our financial statements on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Revenues are recognized in the period in which they are earned. Expenses are recognized in the period in which the related liability is incurred. | ||||||||||||||||||||||||||||
Liquidity/Going Concern | Liquidity/Going Concern: Our primary sources of liquidity have been funds generated from debt financing, the sale of shares of common and preferred stock, grants in lieu of federal income tax credits, National Institute of Health grants and sales of state NOL carryforwards. We intend to attempt to raise additional financing in the third quarter of 2013, which might not be available on favorable terms, if at all. On June 5, 2013, we filed a registration statement on Form S-1 for a proposed public offering of $15.0 million of our common stock. We can provide no assurances that we will be able sell shares of our common stock in this offering on favorable terms or at all. We can provide no assurances that any additional sources of financing will be available to us on favorable terms, if at all. If we are unable to secure additional financings we would scale back our general and administrative activities and certain of our research and development activities. | Liquidity/Going Concern: Our primary sources of liquidity have been funds generated from debt financing, the sale of shares of common and preferred stock, grants in lieu of federal income tax credits, National Institute of Health grants and sales of state NOL carryforwards. We believe our current cash resources, including $663,900 received on January 22, 2013 from the sale of certain state NOL carryforwards, are sufficient to satisfy our liquidity requirements at our current level of operations through March 31, 2013. | ||||||||||||||||||||||||||||
We believe our current cash resources will be sufficient to satisfy our liquidity requirements at our current level of operations only through August 31, 2013 and then only if we are able to extend the payment of $3.5 million in outstanding indebtedness that matures on August 15, 2013. We need to raise additional financing in the near term, through this offering or otherwise, to repay certain indebtedness and fund our current level of operations. Even if further extensions are obtained, we anticipate that we will need to secure additional financing to provide sufficient cash for normal operations. | ||||||||||||||||||||||||||||||
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has suffered recurring losses from operations, has negative working capital and a net capital deficiency that 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. Refer to the section entitled “Capital Resources and Expenditure Requirements” in Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Form 10-Q of which these financial statements are a part. | The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 18, the Company has suffered recurring losses from operations, has negative working capital and a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 18. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. | |||||||||||||||||||||||||||||
Principles of consolidation | Principles of consolidation: The accompanying consolidated financial statements include the accounts of Cancer Genetics, Inc. and our wholly owned subsidiary, Cancer Genetics Italia SRL. All significant intercompany account balances and transactions have been eliminated in consolidation. | Principles of consolidation: The accompanying consolidated financial statements include the accounts of Cancer Genetics, Inc. and our wholly owned subsidiary, Cancer Genetics Italia SRL. All significant intercompany account balances and transactions have been eliminated in consolidation. | ||||||||||||||||||||||||||||
Use of estimates and assumptions | Use of estimates and assumptions: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include, among others, realization of amounts billed, realization of long-lived assets, realization of intangible assets, accruals for registration payments and assumptions used to value stock options and warrants. Actual results could differ from those estimates. | Use of estimates and assumptions: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include, among others, realization of amounts billed, realization of long-lived assets, realization of intangible assets, accruals for litigation and registration payments and assumptions used to value stock options and warrants. Actual results could differ from those estimates. | ||||||||||||||||||||||||||||
Risks and uncertainties | Risks and uncertainties: We operate in an industry that is subject to intense competition, government regulation and rapid technological change. Our operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory and other risks, including the potential risk of business failure. | Risks and uncertainties: We operate in an industry that is subject to intense competition, government regulation and rapid technological change. Our operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory and other risks, including the potential risk of business failure. | ||||||||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents: Highly liquid investments with original maturities of three months or less when purchased are considered to be cash equivalents. Financial instruments which potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents. We maintain cash and cash equivalents with high-credit quality financial institutions. At times, such amounts may exceed insured limits. We have not experienced any losses in such accounts and believe we are not exposed to any significant credit risk on our cash and cash equivalents. | Cash and cash equivalents: Highly liquid investments with original maturities of three months or less when purchased are considered to be cash equivalents. Financial instruments which potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents. We maintain cash and cash equivalents with high-credit quality financial institutions. At times, such amounts may exceed insured limits. We have not experienced any losses in such accounts and believe we are not exposed to any significant credit risk on our cash and cash equivalents. | ||||||||||||||||||||||||||||
Revenue recognition | Revenue recognition: Revenue is recognized in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 605, Revenue Recognition, and ASC 954-605 Health Care Entities, Revenue Recognition which requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence that an arrangement exists; (2) delivery has occurred and title and the risks and rewards of ownership have been transferred to the customer or services have been rendered; (3) the price is fixed or determinable; and (4) collectability is reasonably assured. In determining whether the price is fixed or determinable, we consider payment limits imposed by insurance carriers and Medicare and the amount of revenue recorded takes into account the historical percentage of revenue we have collected for each type of test for each payor category. Periodically, an adjustment is made to revenue to record differences between our anticipated cash receipts from insurance carriers and Medicare and actual receipts from such payors. For the periods presented, such adjustments were not significant. For direct bill customers (including clinical trials customers), revenue is recorded based upon the contractually agreed upon fee schedule. When assessing collectability, we consider whether we have sufficient payment history to reliably estimate a payor’s individual payment patterns. For new tests where there is no evidence of payment history at the time the tests are completed, we only recognize revenues once reimbursement experience can be established. We then recognize revenue equal to the amount of cash received. Sales of probes are recorded on the shipping date. We do not bill customers for shipping and handling fees and do not collect any sales or other taxes. | Revenue recognition: Revenue is recognized in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 605, Revenue Recognition, and ASC 954-605 Health Care Entities, Revenue Recognition which requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence that an arrangement exists; (2) delivery has occurred and title and the risks and rewards of ownership have been transferred to the customer or services have been rendered; (3) the price is fixed or determinable; and (4) collectability is reasonably assured. In determining whether the price is fixed or determinable, we consider payment limits imposed by insurance carriers and Medicare and the amount of revenue recorded takes into account the historical percentage of revenue we have collected for each type of test for each payor category. Periodically, an adjustment is made to revenue to record differences between our anticipated cash receipts from insurance carriers and Medicare and actual receipts from such payors. For the periods presented, such adjustments were not significant. For direct bill customers (including clinical trials customers), revenue is recorded based upon the contractually agreed upon fee schedule. When assessing collectability, we consider whether we have sufficient payment history to reliably estimate a payor’s individual payment patterns. For new tests where there is no evidence of payment history at the time the tests are completed, we only recognize revenues once reimbursement experience can be established. We then recognize revenue equal to the amount of cash received. Sales of probes are recorded on the shipping date. We do not bill customers for shipping and handling fees and do not collect any sales or other taxes. | ||||||||||||||||||||||||||||
Revenues from grants to support product development are recognized when costs and expenses under the terms of the grant have been incurred and payments under the grants become contractually due. | ||||||||||||||||||||||||||||||
Revenues from grants to support product development are recognized when costs and expenses under the terms of the grant have been incurred and payments under the grants become contractually due. In 2010, we were awarded a federal grant in the amount of $733,438 under the Qualifying Therapeutic Discovery Project which funded research targeted at new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions, reduce the long-term growth of health care costs in the U.S. or significantly advance the goal of curing cancer within 30 years. The qualifying expenditures were incurred in 2009 and 2010 and we have presented this grant in other income. | ||||||||||||||||||||||||||||||
Accounts receivable | Accounts receivable: Accounts receivable are carried at original invoice amount less an estimate for contractual adjustments and doubtful receivables, the amounts of which are determined by an analysis of individual accounts. Our policy for assessing the collectability of receivables is dependent upon the major payor source of the underlying revenue. For direct bill clients, an assessment of credit worthiness is performed prior to initial engagement and is reassessed periodically. If deemed necessary, an allowance is established on receivables from direct bill clients. For insurance carriers where there is not an established pattern of collection, revenue is not recorded until cash is received. For receivables where insurance carriers have made payments to patients instead of directing payments to the Company, an allowance is established for a portion of such receivables. After reasonable collection efforts are exhausted, amounts deemed to be uncollectible are written off against the allowance for doubtful accounts. Since the Company only recognizes revenue to the extent it expects to collect such amounts, bad debt expense related to receivables from patient service revenue is recorded in general and administrative expense in the consolidated statement of operations. Recoveries of accounts receivable previously written off are recorded when received. | Accounts receivable: Accounts receivable are carried at original invoice amount less an estimate for contractual adjustments and doubtful receivables, the amounts of which are determined by an analysis of individual accounts. Our policy for assessing the collectability of receivables is dependent upon the major payor source of the underlying revenue. For direct bill clients, an assessment of credit worthiness is performed prior to initial engagement and is reassessed periodically. If deemed necessary, an allowance is established on receivables from direct bill clients. For insurance carriers where there is not an established pattern of collection, revenue is not recorded until cash is received. For receivables where insurance carriers have made payments to patients instead of directing payments to the Company, an allowance is established for a portion of such receivables. After reasonable collection efforts are exhausted, amounts deemed to be uncollectible are written off against the allowance for doubtful accounts. Since the Company only recognizes revenue to the extent it expects to collect such amounts, bad debt expense related to receivables from patient service revenue is recorded in general and administrative expense in the consolidated statement of operations. Recoveries of accounts receivable previously written off are recorded when received. The increase in the allowance from December 31, 2011 to December 31, 2012 was based upon the individual analysis of accounts receivable as described above. | ||||||||||||||||||||||||||||
Deferred IPO costs | Deferred Offering costs: Deferred offering costs represent legal, accounting and other direct costs related to our effort to raise capital through a stock offering. Future costs related to our offering activities will be deferred until the completion of the offering, at which time they will be reclassified to additional paid-in capital as a reduction of the offering proceeds. During the six months ended June 30, 2013, $617,706 in deferred offering costs were expensed in connection with our IPO and approximately $2.5 million in deferred offering costs were reclassified to additional paid-in capital. Additionally, $733,250 in deferred offering costs were reduced due to discounts given by vendors associated with that offering and $120,000 was refunded. At June 30, 2013 we had $143,000 in deferred offering costs in connection with the anticipated additional financing referred to above. | Deferred IPO costs: Deferred IPO costs represent legal, accounting and other direct costs related to our effort to raise capital through an IPO. Future costs related to our IPO activities will be deferred until the completion of the IPO, at which time they will be reclassified to additional paid-in capital as a reduction of the IPO proceeds. If we terminate our plan for an IPO, any deferred costs would be expensed at that time. | ||||||||||||||||||||||||||||
Warrant liability | Warrant liability: We have issued certain warrants which contain an exercise price adjustment feature in the event we issue additional equity instruments at a price lower than the exercise price of the warrant. The warrants are described herein as derivative warrants. We account for these derivative warrants as liabilities. These common stock purchase warrants do not trade in an active securities market, and as such, we estimate the fair value of these warrants using the binomial lattice valuation pricing model with the assumptions as follows: The risk-free interest rate for periods within the contractual life of the warrant is based on the U.S. Treasury yield curve. The expected life of the warrants is based upon the contractual life of the warrants. Volatility is estimated based on an average of the historical volatilities of the common stock of four entities with characteristics similar to those of the Company. Prior to our IPO, the measurement date fair value of the underlying common shares was based upon an external valuation of our shares. (See Notes 8 and 9). Subsequent to the IPO, we use the closing price of our shares on the OTC Bulletin Board. | Warrant liability: We have issued certain warrants which contain an exercise price adjustment feature in the event we issue additional equity instruments at a price lower than the exercise price of the warrant. The warrants are described herein as derivative warrants. We account for these derivative warrants as liabilities. These common stock purchase warrants do not trade in an active securities market, and as such, we estimate the fair value of these warrants using the binomial lattice valuation pricing model with the assumptions as follows: The risk-free interest rate for periods within the contractual life of the warrant is based on the U.S. Treasury yield curve. The expected life of the warrants is based upon the contractual life of the warrants. Volatility is estimated based on an average of the historical volatilities of the common stock of four entities with characteristics similar to those of the Company. The measurement date fair value of the underlying common shares is based upon an external valuation of our shares. (See Notes 12 and 13). | ||||||||||||||||||||||||||||
We compute the fair value of the warrant liability at each reporting period and the change in the fair value is recorded as non-cash expense or non-cash income. The key component in the value of the warrant liability is our stock price, which is subject to significant fluctuation and is not under our control. The resulting effect on our net income (loss) is therefore subject to significant fluctuation and will continue to be so until the warrants are exercised, amended or expire. Assuming all other fair value inputs remain constant, we will record non-cash expense when the stock price increases and non-cash income when the stock price decreases. | We compute the fair value of the warrant liability at each reporting period and the change in the fair value is recorded as non-cash expense or non-cash income. The key component in the value of the warrant liability is our stock price, which is subject to significant fluctuation and is not under our control. The resulting effect on our net loss is therefore subject to significant fluctuation and will continue to be so until the warrants are exercised, amended or expire. Assuming all other fair value inputs remain constant, we will record non-cash expense when the stock price increases and non-cash income when the stock price decreases. | |||||||||||||||||||||||||||||
Income taxes | Income taxes: Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for temporary differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income and research and development credits. On January 22, 2013, we sold certain state net operating loss carryforwards. The proceeds of $663,900 are included in our income tax benefit for the six months ended June 30, 2013. | Income taxes: Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for temporary differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income and research and development credits. | ||||||||||||||||||||||||||||
Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. We have established a full valuation allowance on our deferred tax assets as of December 31, 2012 and 2011, therefore we have not recognized any tax benefit or expense in the periods presented. | ||||||||||||||||||||||||||||||
ASC 740, Income Taxes, clarifies the accounting for uncertainty in income taxes recognized in the financial statements. ASC 740 provides that a tax benefit from uncertain tax positions may be recognized when it is more-likely-than-not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the position. Income tax positions must meet a more-likely-than-not recognition threshold to be recognized. ASC 740 also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. See Note 9 for a discussion of uncertain tax positions. | ||||||||||||||||||||||||||||||
Our policy is to recognize interest and/or penalties related to income tax matters in income tax expense. There is no accrual for interest or penalties on our consolidated balance sheets at December 31, 2012 or 2011, and we have not recognized interest and/or penalties in the consolidated statements of operations for the years ended December 31, 2012, 2011 or 2010. | ||||||||||||||||||||||||||||||
Registration payment arrangements | Registration payment arrangements: We account for our obligations under registration payment arrangements in accordance with ASC 825-20, Registration Payment Arrangements. ASC 825-20 requires us to record a liability if we determine a registration payment is probable and if it can reasonably be estimated. As of June 30, 2013 and December 31, 2012, we have an accrued liability of $300,000 and $541,000, respectively, related to registration rights obligations associated with the issuance of Series B preferred stock and certain notes payable. | Registration payment arrangements: We account for our obligations under registration payment arrangements in accordance with ASC 825-20, Registration Payment Arrangements. ASC 825-20 requires us to record a liability if we determine a registration payment is probable and if it can reasonably be estimated. As of December 31, 2012 and 2011, we have an accrued liability of $541,000 and $150,000, respectively, related to the issuance of Series B preferred stock and certain notes payable. | ||||||||||||||||||||||||||||
Stock-based compensation | Stock-based compensation: Stock-based compensation is accounted for in accordance with the provisions of ASC 718, Compensation-Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. We estimate the fair value of stock-based awards on the date of grant using the Black-Scholes option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods using the straight-line method. See additional information in Note 7. | Stock-based compensation: Stock-based compensation is accounted for in accordance with the provisions of ASC 718, Compensation-Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. We estimate the fair value of stock-based awards on the date of grant using the Black-Scholes option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods using the straight-line method. See additional information in Note 11. | ||||||||||||||||||||||||||||
All issuances of stock options or other issuances of equity instruments to employees as the consideration for services received by us are accounted for based on the fair value of the equity instrument issued. | All issuances of stock options or other issuances of equity instruments to employees as the consideration for services received by us are accounted for based on the fair value of the equity instrument issued. | |||||||||||||||||||||||||||||
We account for stock-based compensation awards to non-employees in accordance with ASC 505-50, Equity Based Payments to Non-Employees. Under ASC 505-50, we determine the fair value of the warrants or stock-based compensation awards granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Stock-based compensation awards issued to non-employees are recorded in expense and additional paid-in capital in stockholders’ deficit over the applicable service periods based on the fair value of the awards or consideration received at the vesting date. | We account for stock-based compensation awards to non-employees in accordance with ASC 505-50, Equity Based Payments to Non-Employees. Under ASC 505-50, we determine the fair value of the warrants or stock-based compensation awards granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Stock-based compensation awards issued to non-employees are recorded in expense and additional paid-in capital in stockholders’ deficit over the applicable service periods based on the fair value of the awards or consideration received at the vesting date. | |||||||||||||||||||||||||||||
Subsequent events | Subsequent events: We have evaluated potential subsequent events through August 5, 2013, which is the date the financial statements were issued. | Subsequent events: We have evaluated potential subsequent events through March 4, 2013, which is the date the financial statements were issued. | ||||||||||||||||||||||||||||
Earnings (loss) per share | Earnings (loss) per share: Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares assumed to be outstanding during the period of computation. Diluted earnings per share is computed similar to basic earnings per share except that the numerator is adjusted for the change in fair value of the warrant liability (only if dilutive) and the denominator is increased to include the number of dilutive potential common shares outstanding during the period using the treasury stock method. | Earnings (loss) per share: Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares assumed to be outstanding during the period of computation. Diluted earnings per share is computed similar to basic earnings per share except that the numerator is adjusted for the change in fair value of the warrant liability (only if dilutive) and the denominator is increased to include the number of dilutive potential common shares outstanding during the period using the treasury stock method. | ||||||||||||||||||||||||||||
Basic net income (loss) and diluted net loss per share data were computed as follows: | ||||||||||||||||||||||||||||||
Basic net loss and diluted net loss per share data were computed as follows: | ||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Numerator: | Numerator: | |||||||||||||||||||||||||||||
Net income (loss) for basic earnings per share | $ | (9,142,191 | ) | $ | (1,860,461 | ) | $ | (6,781,788 | ) | $ | (2,932,978 | ) | Net (loss) for basic earnings per share | $ | (6,665,627 | ) | $ | (19,887,040 | ) | $ | (8,407,341 | ) | ||||||||
Less gain in fair value of warrant liability | — | 1,456,000 | 5,129,000 | 3,036,000 | Less change in fair value of warrant liability | 7,538,000 | — | — | ||||||||||||||||||||||
Net (loss) for diluted earnings per share | $ | (9,142,191 | ) | $ | (3,316,461 | ) | $ | (11,910,788 | ) | $ | (5,968,978 | ) | Net (loss) for diluted earnings per share | $ | (14,203,627 | ) | $ | (19,887,040 | ) | $ | (8,407,341 | ) | ||||||||
Denominator: | Denominator: | |||||||||||||||||||||||||||||
Weighted-average basic common shares outstanding | 3,985,663 | 1,346,124 | 2,667,799 | 1,337,702 | Weighted-average basic common shares outstanding | 1,342,174 | 1,274,153 | 1,253,231 | ||||||||||||||||||||||
Assumed conversion of dilutive securities: | Assumed conversion of dilutive securities: | |||||||||||||||||||||||||||||
Common stock purchase warrants | — | 83,611 | — | 83,611 | Common stock purchase warrants | 3,987 | — | — | ||||||||||||||||||||||
Potentially dilutive common shares | — | 83,611 | — | 83,611 | Potentially dilutive common shares | 3,987 | — | — | ||||||||||||||||||||||
Denominator for diluted earnings per share – adjusted weighted-average shares | 3,985,663 | 1,429,735 | 2,667,799 | 1,421,313 | Denominator for diluted earnings per share—adjusted weighted-average shares | 1,346,161 | 1,274,153 | 1,253,231 | ||||||||||||||||||||||
Basic net income (loss) per share | $ | (2.29 | ) | $ | (1.38 | ) | $ | (2.54 | ) | $ | (2.19 | ) | Basic net loss per share | $ | (4.97 | ) | $ | (15.61 | ) | $ | (6.71 | ) | ||||||||
Diluted net loss per share | $ | (2.29 | ) | $ | (2.32 | ) | $ | (4.46 | ) | $ | (4.20 | ) | Diluted net loss per share | $ | (10.55 | ) | $ | (15.61 | ) | $ | (6.71 | ) | ||||||||
The following table summarizes potentially dilutive adjustments to the weighted average number of common shares which were excluded from the calculation: | The following table summarizes potentially dilutive adjustments to the weighted average number of common shares which were excluded from the calculation: | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Common stock purchase warrants | 1,102,176 | 888,739 | 745,732 | |||||||||||||||||||||||
Common stock purchase warrants | 1,926,477 | 939,729 | 1,926,477 | 939,729 | Stock options | 553,340 | 559,990 | 511,660 | ||||||||||||||||||||||
Stock options | 507,610 | 584,190 | 507,610 | 584,190 | Common shares issuable upon conversion of Series A Preferred Stock | 352,614 | 352,614 | 352,614 | ||||||||||||||||||||||
Common shares issuable upon conversion of Series A Preferred Stock | — | 352,614 | — | 352,614 | Common shares issuable upon conversion of Series B Preferred Stock | 364,320 | 364,320 | 364,320 | ||||||||||||||||||||||
Common shares issuable upon conversion of Series B Preferred Stock | — | 364,320 | — | 364,320 | Common shares issuable upon conversion of note payable to shareholder | — | — | 9,288 | ||||||||||||||||||||||
2,434,087 | 2,240,853 | 2,434,087 | 2,240,853 | 2,372,450 | 2,165,663 | 1,983,614 | ||||||||||||||||||||||||
Segment Reporting | Segment Reporting: Operating segments are defined as components of an enterprise about which separate discrete information is used by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. We view our operations and manage our business in one operating segment, which is the business of developing and selling diagnostic tests. | |||||||||||||||||||||||||||||
Deferred revenue | Deferred revenue: Payments received in advance of services rendered are recorded as deferred revenue and are subsequently recognized as revenue in the period in which the services are performed. | |||||||||||||||||||||||||||||
Fixed assets | Fixed assets: Fixed assets consist of diagnostic equipment, furniture and fixtures and leasehold improvements. Fixed assets are carried at cost and are depreciated over the estimated useful lives of the assets, which generally range from five to seven years. Leasehold improvements are amortized over the lesser of the lease term or the estimated useful lives of the improvements. The straight-line method is used for depreciation and amortization. Repairs and maintenance are charged to expense as incurred while improvements are capitalized. Upon sale, retirement or disposal of fixed assets, the accounts are relieved of the cost and the related accumulated depreciation or amortization with any gain or loss recorded to the consolidated statement of operations. | |||||||||||||||||||||||||||||
Fixed assets are reviewed for impairment whenever changes in circumstances indicate that the carrying amount of an asset may not be recoverable. These computations utilize judgments and assumptions inherent in our estimate of future cash flows to determine recoverability of these assets. If our assumptions about these assets were to change as a result of events or circumstances, we may be required to record an impairment loss. | ||||||||||||||||||||||||||||||
Loan guarantee fee | Loan guarantee fee: Loan guarantee fees are amortized on a straight-line basis over the term of the guarantee. | |||||||||||||||||||||||||||||
Patents | Patents: We account for intangible assets under ASC 350, Goodwill and Other Intangibles—30 General Intangibles Other than Goodwill. Patents consist of legal fees incurred and are recorded at cost and amortized over the useful lives of the assets, using the straight-line method. Certain patents are in the legal application process and therefore are not currently being amortized. We review the carrying value of patents at the end of each reporting period. Based upon our review, there were no intangible asset impairments in 2012, 2011 or 2010. Accumulated amortization of patents as of December 31, 2012 and 2011 was approximately $41,000 and $24,000, respectively. Future amortization expense for legally approved patents is estimated at $15,200 per year through 2018 and approximately $12,000, $5,500, and $2,800 for 2019, 2020, and 2021, respectively. | |||||||||||||||||||||||||||||
Research and development | Research and development: Research and development costs associated with service and product development include direct costs of payroll, employee benefits, stock-based compensation and supplies and an allocation of indirect costs including rent, utilities, depreciation and repairs and maintenance. All research and development costs are expensed as they are incurred. | |||||||||||||||||||||||||||||
Fair value of financial instruments | Fair value of financial instruments: The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses, and capital leases approximate their estimated fair values due to the short-term maturities of those financial instruments. These financial instruments are considered Level 1 measurement under the fair value hierarchy, except for capital leases which are considered level 2. Due to the unique terms of our notes payable and lines of credit and the financial condition of the company, the fair value of the debt is not determinable. The fair value of warrants recorded as derivative liabilities is described in Note 13. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||
Computation of Basic Net Income (Loss) and Diluted Net Loss Per Share Data | Basic net income (loss) and diluted net loss per share data were computed as follows: | Basic net loss and diluted net loss per share data were computed as follows: | ||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Numerator: | ||||||||||||||||||||||||||
Numerator: | Net (loss) for basic earnings per share | $ | (6,665,627 | ) | $ | (19,887,040 | ) | $ | (8,407,341 | ) | ||||||||||||||||||||
Net income (loss) for basic earnings per share | $ | (9,142,191 | ) | $ | (1,860,461 | ) | $ | (6,781,788 | ) | $ | (2,932,978 | ) | Less change in fair value of warrant liability | 7,538,000 | — | — | ||||||||||||||
Less gain in fair value of warrant liability | — | 1,456,000 | 5,129,000 | 3,036,000 | ||||||||||||||||||||||||||
Net (loss) for diluted earnings per share | $ | (14,203,627 | ) | $ | (19,887,040 | ) | $ | (8,407,341 | ) | |||||||||||||||||||||
Net (loss) for diluted earnings per share | $ | (9,142,191 | ) | $ | (3,316,461 | ) | $ | (11,910,788 | ) | $ | (5,968,978 | ) | ||||||||||||||||||
Denominator: | ||||||||||||||||||||||||||||||
Denominator: | Weighted-average basic common shares outstanding | 1,342,174 | 1,274,153 | 1,253,231 | ||||||||||||||||||||||||||
Weighted-average basic common shares outstanding | 3,985,663 | 1,346,124 | 2,667,799 | 1,337,702 | Assumed conversion of dilutive securities: | |||||||||||||||||||||||||
Assumed conversion of dilutive securities: | Common stock purchase warrants | 3,987 | — | — | ||||||||||||||||||||||||||
Common stock purchase warrants | — | 83,611 | — | 83,611 | ||||||||||||||||||||||||||
Potentially dilutive common shares | 3,987 | — | — | |||||||||||||||||||||||||||
Potentially dilutive common shares | — | 83,611 | — | 83,611 | ||||||||||||||||||||||||||
Denominator for diluted earnings per share—adjusted weighted-average shares | 1,346,161 | 1,274,153 | 1,253,231 | |||||||||||||||||||||||||||
Denominator for diluted earnings per share – adjusted weighted-average shares | 3,985,663 | 1,429,735 | 2,667,799 | 1,421,313 | ||||||||||||||||||||||||||
Basic net loss per share | $ | (4.97 | ) | $ | (15.61 | ) | $ | (6.71 | ) | |||||||||||||||||||||
Basic net income (loss) per share | $ | (2.29 | ) | $ | (1.38 | ) | $ | (2.54 | ) | $ | (2.19 | ) | ||||||||||||||||||
Diluted net loss per share | $ | (10.55 | ) | $ | (15.61 | ) | $ | (6.71 | ) | |||||||||||||||||||||
Diluted net loss per share | $ | (2.29 | ) | $ | (2.32 | ) | $ | (4.46 | ) | $ | (4.20 | ) | ||||||||||||||||||
Summary of Potentially Dilutive Adjustments to Weighted Average Number of Common Shares | The following table summarizes potentially dilutive adjustments to the weighted average number of common shares which were excluded from the calculation: | The following table summarizes potentially dilutive adjustments to the weighted average number of common shares which were excluded from the calculation: | ||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Common stock purchase warrants | 1,102,176 | 888,739 | 745,732 | |||||||||||||||||||||||
Common stock purchase warrants | 1,926,477 | 939,729 | 1,926,477 | 939,729 | Stock options | 553,340 | 559,990 | 511,660 | ||||||||||||||||||||||
Stock options | 507,610 | 584,190 | 507,610 | 584,190 | Common shares issuable upon conversion of Series A Preferred Stock | 352,614 | 352,614 | 352,614 | ||||||||||||||||||||||
Common shares issuable upon conversion of Series A Preferred Stock | — | 352,614 | — | 352,614 | Common shares issuable upon conversion of Series B Preferred Stock | 364,320 | 364,320 | 364,320 | ||||||||||||||||||||||
Common shares issuable upon conversion of Series B Preferred Stock | — | 364,320 | — | 364,320 | Common shares issuable upon conversion of note payable to shareholder | — | — | 9,288 | ||||||||||||||||||||||
2,434,087 | 2,240,853 | 2,434,087 | 2,240,853 | 2,372,450 | 2,165,663 | 1,983,614 | ||||||||||||||||||||||||
Revenue_and_Accounts_Receivabl1
Revenue and Accounts Receivable (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||
Schedule of Revenue by Payor Type | Revenue by payor type for the three and six months ended June 30, 2013 and 2012 is comprised of the following: | Revenue by payor type for each of the years ended December 31 is comprised of the following: | ||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Medicare | $ | 753,248 | $ | 717,661 | $ | 605,776 | ||||||||||||||||||||
Medicare | $ | 151,052 | $ | 269,838 | $ | 408,115 | $ | 408,605 | Direct bill (including clinical trials) | 1,594,509 | 350,290 | 408,356 | ||||||||||||||||||
Direct bill (including clinical trials clients) | 1,226,852 | 344,115 | 1,738,199 | 684,247 | Grants and royalty | 556,940 | 315,195 | 110,000 | ||||||||||||||||||||||
Grants and royalty | — | 184,500 | — | 195,000 | Insurance carrier and all others | 1,396,866 | 1,636,261 | 1,397,447 | ||||||||||||||||||||||
Insurance carrier and all others | 453,745 | 350,022 | 904,002 | 695,375 | ||||||||||||||||||||||||||
$ | 4,301,563 | $ | 3,019,407 | $ | 2,521,579 | |||||||||||||||||||||||||
$ | 1,831,649 | $ | 1,148,475 | $ | 3,050,316 | $ | 1,983,227 | |||||||||||||||||||||||
Schedule of Accounts Receivable by Payor Type | Accounts receivable by payor type at June 30, 2013 and December 31, 2012 consists of the following: | Accounts receivable by payor type at December 31, 2012 and 2011 consists of the following: | ||||||||||||||||||||||||||||
June 30, | December 31, | 2012 | 2011 | |||||||||||||||||||||||||||
2013 | 2012 | Medicare | $ | 193,024 | $ | 152,186 | ||||||||||||||||||||||||
Medicare | $ | 347,677 | $ | 193,024 | Direct bill | 339,763 | 64,183 | |||||||||||||||||||||||
Direct bill (including clinical trials clients) | 388,197 | 339,763 | Insurance carrier and all others | 353,758 | 496,661 | |||||||||||||||||||||||||
Insurance carrier and all others | 563,367 | 353,758 | Allowance for doubtful accounts | (36,000 | ) | (24,050 | ) | |||||||||||||||||||||||
Allowance for doubtful accounts | (36,000 | ) | (36,000 | ) | ||||||||||||||||||||||||||
$ | 850,545 | $ | 688,980 | |||||||||||||||||||||||||||
$ | 1,263,241 | $ | 850,545 | |||||||||||||||||||||||||||
Notes_Payable_and_Lines_of_Cre1
Notes Payable and Lines of Credit (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||
Summary of Short-Term and Long-Term Debt Obligations | Below is a summary of our short-term and long-term debt obligations as of June 30, 2013 and December 31, 2012: | Below is a summary of our short-term and long-term debt obligations as of December 31, 2012 and 2011: | ||||||||||||||||
June 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | December 2011 Financing Transaction | $ | 4,000,000 | $ | — | ||||||||||||
December 2011 Financing Transaction | $ | 1,500,000 | $ | 4,000,000 | Secured Note Payable, short-term | 79,867 | — | |||||||||||
Secured Note Payable, short-term | 64,014 | 79,867 | Other Note Payable | — | 100,000 | |||||||||||||
Unamortized debt discount | — | (243,300 | ) | Unamortized debt discount | (243,300 | ) | — | |||||||||||
Notes Payable, Current Portion | $ | 1,564,014 | $ | 3,836,567 | Notes Payable, Current Portion | $ | 3,836,567 | $ | 100,000 | |||||||||
Lines of Credit, Current Portion | $ | 8,000,000 | $ | 3,000,000 | Line of Credit, Principal Balance | $ | 3,000,000 | $ | — | |||||||||
Unamortized Debt Discount | (3,500 | ) | (128,800 | ) | Unamortized Debt Discount | (128,800 | ) | — | ||||||||||
Lines of Credit, Current Portion | $ | 7,996,500 | $ | 2,871,200 | Line of Credit, Current Portion | $ | 2,871,200 | $ | — | |||||||||
December 2011 Financing Transaction | $ | — | $ | 2,000,000 | December 2011 Financing Transaction | $ | 2,000,000 | $ | 3,000,000 | |||||||||
2012 Convertible Debt Financing Transaction | — | 3,000,000 | 2012 Convertible Debt Financing Transaction | 3,000,000 | — | |||||||||||||
December 2012 Bridge Financing Transaction | — | 1,000,000 | December 2012 Bridge Financing Transaction | 1,000,000 | — | |||||||||||||
Other Note Payable | — | 100,000 | Other Note Payable | 100,000 | ||||||||||||||
Secured Note Payable | — | 22,298 | Secured Note Payable | 22,298 | — | |||||||||||||
Unamortized debt discount | — | (3,681,615 | ) | Unamortized debt discount | (3,681,615 | ) | (1,087,635 | ) | ||||||||||
Notes Payable, Long-Term | $ | — | $ | 2,440,683 | Notes Payable, Long-Term | $ | 2,440,683 | $ | 1,912,365 | |||||||||
Lines of Credit, Long-Term | $ | — | $ | 6,000,000 | Lines of Credit, Principal Balances | $ | 6,000,000 | $ | 9,000,000 | |||||||||
Unamortized Debt Discount | — | (562,745 | ) | |||||||||||||||
Lines of Credit, Long-Term | $ | 6,000,000 | $ | 8,437,255 | ||||||||||||||
Conversion of Indebtedness into Shares of Common Stock | On April 10, 2013, we completed our IPO and converted the following indebtedness into shares of common stock at the IPO price of $10.00 per share: | |||||||||||||||||
Converted Amount | Common Shares | |||||||||||||||||
December 2011 Financing Transaction | $ | 4,500,000 | 450,000 | |||||||||||||||
2012 Convertible Debt Financing Transaction | 3,000,000 | 300,000 | ||||||||||||||||
December 2012 Bridge Financing Transaction | 1,000,000 | 100,000 | ||||||||||||||||
Business Lines of Credit (DAM) | 1,000,000 | 100,000 | ||||||||||||||||
Other Note Payable and accrued interest | 134,300 | 13,430 | ||||||||||||||||
$ | 9,634,300 | 963,430 | ||||||||||||||||
Loss on Debt and Warrant Restructuring | In connection with these transactions, we recognized a loss on debt and warrant restructuring as presented below: | |||||||||||||||||
Restated 2012 convertible debt financing transaction | $ | 1,506,512 | ||||||||||||||||
Amend warrants granted for guarantee of business line of credit | 268,000 | |||||||||||||||||
Amend warrants granted for 2011 convertible debt financing transaction | 545,000 | |||||||||||||||||
Settle warrants granted for guarantee of business line of credit | (129,500 | ) | ||||||||||||||||
Settle warrants granted for 2011 convertible debt financing transaction | (328,000 | ) | ||||||||||||||||
Loss on debt and warrant restructuring | $ | 1,862,012 | ||||||||||||||||
Stock_Option_Plans_Tables
Stock Option Plans (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Summary of Employee and Nonemployee Stock Option Activity | A summary of employee and nonemployee stock option activity for year ended December 31, 2012 and the six months ended June 30, 2013 is as follows: | A summary of employee and nonemployee stock option activity for the years ended December 31, 2012, 2011 and 2010 is as follows: | ||||||||||||||||||||||||||||||||||||||||
Options Outstanding | Weighted- | Aggregate | Options Outstanding | Weighted- | Aggregate | |||||||||||||||||||||||||||||||||||||
Average | Intrinsic | Average | Intrinsic | |||||||||||||||||||||||||||||||||||||||
Remaining | Value | Remaining | Value | |||||||||||||||||||||||||||||||||||||||
Contractual | Contractual | |||||||||||||||||||||||||||||||||||||||||
Number of | Weighted- | Term (in years) | Number of | Weighted- | Term (in years) | |||||||||||||||||||||||||||||||||||||
Shares | Average | Shares | Average | |||||||||||||||||||||||||||||||||||||||
Exercise | Exercise | |||||||||||||||||||||||||||||||||||||||||
Price | Price | |||||||||||||||||||||||||||||||||||||||||
Outstanding January 1, 2012 | 559,990 | $ | 12.85 | 8.1 | $ | 11,737,710 | Outstanding January 1, 2010 | 220,000 | $ | 4 | 9.13 | $ | 176,400 | |||||||||||||||||||||||||||||
Granted | 2,400 | 33.8 | Granted | 340,660 | 14.35 | |||||||||||||||||||||||||||||||||||||
Cancelled or expired | (9,050 | ) | 23.43 | Exercised | (45,400 | ) | 4 | |||||||||||||||||||||||||||||||||||
Cancelled or expired | (3,600 | ) | 4 | |||||||||||||||||||||||||||||||||||||||
Outstanding December 31, 2012 | 553,340 | $ | 12.76 | 7.13 | $ | 1,142,432 | ||||||||||||||||||||||||||||||||||||
Granted | 59,350 | 10.17 | Outstanding December 31, 2010 | 511,660 | $ | 10.9 | 8.97 | $ | 1,693,760 | |||||||||||||||||||||||||||||||||
Cancelled or expired | (105,080 | ) | 20.61 | Granted | 67,615 | 26.73 | ||||||||||||||||||||||||||||||||||||
Cancelled or expired | (19,285 | ) | 11.78 | |||||||||||||||||||||||||||||||||||||||
Outstanding June 30, 2013 | 507,610 | $ | 7.61 | 6.78 | $ | 1,217,614 | ||||||||||||||||||||||||||||||||||||
Outstanding December 31, 2011 | 559,990 | $ | 12.85 | 8.1 | $ | 11,737,710 | ||||||||||||||||||||||||||||||||||||
Exercisable, June 30, 2013 | 375,358 | $ | 6.87 | 6.44 | $ | 1,168,635 | Granted | 2,400 | 33.8 | |||||||||||||||||||||||||||||||||
Cancelled or expired | (9,050 | ) | 23.43 | |||||||||||||||||||||||||||||||||||||||
Outstanding December 31, 2012 | 553,340 | $ | 12.76 | 7.13 | $ | 1,142,432 | ||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | 401,458 | $ | 11.15 | 6.97 | $ | 1,082,482 | ||||||||||||||||||||||||||||||||||||
Summary of Outstanding and Vested Stock Options Granted | The following table summarizes information about outstanding and vested stock options granted to employees and non-employees as of June 30, 2013 as follows: | The following table summarizes information about outstanding and vested stock options granted to employees and non-employees as of December 31, 2012 as follows: | ||||||||||||||||||||||||||||||||||||||||
Options Outstanding | Options Vested | Options Outstanding | Options Vested and Exercisable | |||||||||||||||||||||||||||||||||||||||
and Exercisable | Exercise Price | Number of | Weighted- | Weighted- | Number of | Weighted- | ||||||||||||||||||||||||||||||||||||
Exercise Price | Number of | Weighted- | Weighted- | Number of | Weighted- | Shares | Average | Average | Shares | Average | ||||||||||||||||||||||||||||||||
Shares | Average | Average | Shares | Average | Outstanding | Remaining | Exercise | Exercise Price | ||||||||||||||||||||||||||||||||||
Outstanding | Remaining | Exercise | Exercise | Contractual | Price | |||||||||||||||||||||||||||||||||||||
Contractual | Price | Price | Life (in years) | |||||||||||||||||||||||||||||||||||||||
Life (in years) | 4 | 175,000 | 6.33 | $ | 4 | 175,000 | $ | 4 | ||||||||||||||||||||||||||||||||||
4 | 175,000 | 5.84 | $ | 4 | 175,000 | $ | 4 | 4.8 | 33,840 | 7.05 | 4.8 | 21,350 | 4.8 | |||||||||||||||||||||||||||||
4.8 | 33,840 | 6.55 | 4.8 | 24,348 | 4.8 | 12.5 | 201,650 | 7.27 | 12.5 | 118,430 | 12.5 | |||||||||||||||||||||||||||||||
10 | 292,970 | 7.32 | 10 | 175,910 | 10 | 25 | 130,200 | 7.85 | 25 | 83,486 | 25 | |||||||||||||||||||||||||||||||
11.75 | 5,600 | 9.79 | 11.75 | — | — | 31.65 | 2,250 | 8.76 | 31.65 | 525 | 31.65 | |||||||||||||||||||||||||||||||
12.5 | 200 | 7.44 | 12.5 | 100 | 12.5 | 33.8 | 10,400 | 9.02 | 33.8 | 2,667 | 33.8 | |||||||||||||||||||||||||||||||
Total | 507,610 | 6.78 | $ | 7.61 | 375,358 | $ | 6.87 | Total | 553,340 | 7.13 | $ | 12.76 | 401,458 | $ | 11.15 | |||||||||||||||||||||||||||
Effects of Stock-Based Compensation Related to Stock Option Awards | The following table presents the effects of stock-based compensation related to stock option awards to employees and nonemployees on our Statement of Operations during the periods presented: | The following table presents the effects of stock-based compensation related to stock option awards to employees and nonemployees on our Statement of Operations during the periods presented: | ||||||||||||||||||||||||||||||||||||||||
Employee and Non Employee Compensation Expense | ||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||
Cost of revenues | $ | 11,967 | $ | 5,191 | $ | 14,179 | $ | 8,431 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||
Research and development | 35,962 | 129,537 | 90,798 | 269,112 | Cost of revenues | $ | 11,753 | $ | 9,603 | $ | 17,748 | |||||||||||||||||||||||||||||||
General and administrative | 94,112 | 86,314 | 152,267 | 160,724 | Research and development | 460,321 | 423,950 | 64,038 | ||||||||||||||||||||||||||||||||||
Sales and marketing | 30,693 | 66,775 | 32,625 | 126,417 | General and administrative | 297,175 | 263,693 | 323,380 | ||||||||||||||||||||||||||||||||||
Sales and marketing | 146,112 | 245,871 | 50,809 | |||||||||||||||||||||||||||||||||||||||
Total stock-based compensation | $ | 172,734 | $ | 287,817 | $ | 289,869 | $ | 564,684 | ||||||||||||||||||||||||||||||||||
Total stock-based compensation | $ | 915,361 | $ | 943,117 | $ | 455,975 | ||||||||||||||||||||||||||||||||||||
Employees [Member] | ||||||||||||||||||||||||||||||||||||||||||
Weighted-Average Assumptions Used to Estimate the Fair Value of Options Granted | The following table presents the weighted-average assumptions used to estimate the fair value of options granted to employees during the periods presented: | The following table presents the weighted-average assumptions used to estimate the fair value of options granted to employees during the periods presented: | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended June 30, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
June 30, 2013 A | 2013 | 2012 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||||
Volatility | 77.11 | % | 77.11 | % | 74.39 | % | Volatility | 77.39 | % | 76.13 | % | 78.02 | % | |||||||||||||||||||||||||||||
Risk free interest rate | 0.76 | % | 0.76 | % | 1.43 | % | Risk free interest rate | 1.43 | % | 2.67 | % | 3.2 | % | |||||||||||||||||||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | Dividend yield | — | — | — | ||||||||||||||||||||||||||||||||
Term (years) | 5.95 | 5.95 | 6.5 | Term (years) | 6.5 | 6.44 | 6.47 | |||||||||||||||||||||||||||||||||||
Weighted-average fair value of options granted during the period | $ | 6.72 | $ | 6.72 | $ | 9.34 | Weighted-average fair value of options granted during the period | $ | 23.35 | $ | 10.6 | $ | 4.6 | |||||||||||||||||||||||||||||
Non-employees [Member] | ||||||||||||||||||||||||||||||||||||||||||
Weighted-Average Assumptions Used to Estimate the Fair Value of Options Granted | The following table presents the weighted-average assumptions used to estimate the fair value of options reaching their measurement date for non-employees during the periods presented: | The following table presents the weighted-average assumptions used to estimate the fair value of options reaching their measurement date for non-employees during the periods presented: | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||
Volatility | 76.21 | % | 74.93 | % | 76.04 | % | 74.9 | % | Volatility | 75.01 | % | 75.45 | % | 77.89 | % | |||||||||||||||||||||||||||
Risk free interest rate | 1.23 | % | 1.44 | % | 1.24 | % | 1.45 | % | Risk free interest rate | 1.26 | % | 2.85 | % | 2.76 | % | |||||||||||||||||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | Dividend yield | — | — | — | ||||||||||||||||||||||||||||||
Term (years) | 7.46 | 8.35 | 7.58 | 8.52 | Term (years) | 8.28 | 9.23 | 9.86 |
Warrants_Tables
Warrants (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Warrant Activity | The following table summarizes the warrant activity for the six months ended June 30, 2013: | The following table summarizes the warrant activity for the years ending December 31, 2012, 2011 and 2010: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued With / For | Exercise | Warrants | 2013 | 2013 | IPO | Warrants | Issued With / For | Exercise | Warrants | 2010 | Warrants | 2011 | 2011 | 2011 | Warrants | 2012 | 2012 | 2012 | 2012 | Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price | Outstanding | Warrants | Warrants | Adjustments(E) | Outstanding | Price | Outstanding | Warrants | Outstanding | Warrants | Warrants | Warrants | Outstanding | Warrants | Warrants | Warrants | Warrants | Outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 1, | Issued | Exercised | June 30, | January 1, | Issued | December 31, | Issued | Exercised | Amended | December 31, | Issued | Exercised | Surrendered | Expired | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | 2010 | 2010 | 2011 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-Derivative Warrants: | Debt Guarantee | $ | 4 | — | — | — | — | — | 228,288 | 228,288 | — | — | — | — | 228,288 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | $ | 10 | — | — | — | 243,334 | 243,334 | Series A Pref. Stock | 10.75 | 30,000 | — | 30,000 | — | — | — | 30,000 | — | (30,000 | ) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 15 | — | — | — | 436,079 | 436,079 | Series A Pref. Stock | 14.1 | 89,214 | — | 89,214 | — | — | — | 89,214 | — | (18,616 | ) | — | (5,269 | ) | 65,329 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 4 | 228,288 | — | (24,000 | ) | — | 204,288 | Financing | 14.1 | 12,411 | — | 12,411 | — | (3,546 | ) | — | 8,865 | — | (2,482 | ) | — | (6,383 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 10 | — | — | — | 237,500 | 237,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 15 | — | — | — | 585,645 | 585,645 | 6.25 | 131,625 | — | 131,625 | — | (3,546 | ) | 228,288 | 356,367 | — | (51,098 | ) | — | (11,652 | ) | 293,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A Pref. Stock | 14.1 | 65,329 | — | — | — | 65,329 | Series A Pref. Stock | 4 | A | 7,325 | — | 7,325 | — | — | — | 7,325 | — | (3,812 | ) | — | (3,513 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 10 | — | — | — | 29,138 | 29,138 | Financing | 25 | B | — | — | — | 60,000 | — | — | 60,000 | — | — | — | — | 60,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 42.5 | BCD | — | — | — | 42,353 | — | — | 42,353 | 189,117 | — | (156,176 | ) | — | 75,294 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12.30 | F | 293,617 | — | (24,000 | ) | 1,531,696 | 1,801,313 | Financing | 42.5 | AD | — | — | — | — | — | — | — | 54,314 | — | — | — | 54,314 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Warrants: | Financing | 42.5 | ACD | — | — | — | — | — | — | — | 120,865 | — | — | — | 120,865 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 10 | B | — | — | — | 60,000 | 60,000 | Debt Guarantee | 25 | A | 228,288 | — | 228,288 | — | — | (228,288 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 25 | B | 60,000 | — | — | (60,000 | ) | — | Debt Guarantee | 25 | AC | 140,000 | 72,000 | 212,000 | — | — | — | 212,000 | — | — | — | — | 212,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 42.5 | BCD | 75,294 | — | — | (75,294 | ) | — | Debt Guarantee | 25 | A | 100,000 | — | 100,000 | — | — | — | 100,000 | — | — | — | — | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 42.5 | AD | 54,314 | 2,941 | — | (57,255 | ) | — | Debt Guarantee | 32.45 | AC | — | — | — | 40,000 | — | — | 40,000 | — | — | — | — | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing | 42.5 | ACD | 120,865 | 6,471 | — | (127,336 | ) | — | Debt Guarantee | 42.5 | ACD | — | — | — | — | — | — | — | 75,392 | — | (37,000 | ) | — | 38,392 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 10 | A | — | — | — | 12,500 | 12,500 | Debt Guarantee | 42.5 | BCD | — | — | — | — | — | — | — | 37,000 | — | — | — | 37,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 25 | ACD | 212,000 | — | — | (212,000 | ) | — | Series B Pref. Stock | 25 | B | — | 52,464 | 52,464 | — | — | — | 52,464 | — | — | — | — | 52,464 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 25 | AD | 95,000 | — | — | (95,000 | ) | — | Consulting | 12.5 | A | — | 4,030 | 4,030 | — | — | — | 4,030 | — | — | — | — | 4,030 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 25 | A | 5,000 | — | — | (5,000 | ) | — | Consulting | 14.1 | A | — | 10,000 | 10,000 | — | — | — | 10,000 | — | — | — | — | 10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 32.45 | ACD | 40,000 | — | — | (40,000 | ) | — | Consulting | 25 | B | — | — | — | 200 | — | — | 200 | — | — | — | — | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 42.5 | ACD | 38,392 | — | — | (38,392 | ) | — | Consulting | 25 | A | — | — | — | 4,000 | — | — | 4,000 | — | — | — | — | 4,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | 42.5 | BCD | 37,000 | — | — | (37,000 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Pref. Stock | 10 | B | — | — | — | 52,464 | 52,464 | 32.22 | 475,613 | 138,494 | 614,107 | 146,553 | — | (228,288 | ) | 532,372 | 476,688 | (3,812 | ) | (193,176 | ) | (3,513 | ) | 808,559 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Pref. Stock | 25 | B | 52,464 | — | — | (52,464 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 10 | B | — | — | — | 200 | 200 | $ | 25.3 | 607,238 | 138,494 | 745,732 | 146,553 | (3,546 | ) | — | 888,739 | 476,688 | (54,910 | ) | (193,176 | ) | (15,165 | ) | 1,102,176 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 12.5 | AD | 4,030 | — | — | (4,030 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 14.1 | AD | 10,000 | — | — | (10,000 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 25 | B | 200 | — | — | (200 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting | 25 | AD | 4,000 | — | — | (4,000 | ) | — | A | These warrants are subject to fair value accounting and contain exercise price and number of share adjustment features. See Note 13. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
B | These warrants are subject to fair value accounting and contain an exercise price adjustment feature. See Note 13. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10.00 | F | 808,559 | 9,412 | — | (692,807 | ) | 125,164 | C | Subsequent to year end, these warrants held by John Pappajohn were amended to limit the adjustment feature(s) to $15.00 per share in an initial public offering (totaling 523,551 warrants). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
D | The exercise price and/or number of share adjustment features of these warrants expire and will no longer be subject to fair value accounting after an initial public offering. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 12.15 | F | 1,102,176 | 9,412 | (24,000 | ) | 838,889 | 1,926,477 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
A | These warrants are subject to fair value accounting and contain exercise price and number of share adjustment features. See Note 9. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
B | These warrants are subject to fair value accounting and contain an exercise price adjustment feature. See Note 9. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C | On February 11, 2013, these warrants held by John Pappajohn were amended to limit the adjustment feature(s) to $15.00 per share in an initial public offering (totaling 530,022 warrants). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
D | The exercise price and/or number of share adjustment features of these warrants expired and are no longer subject to fair value accounting after our initial public offering. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
E | On April 10, 2013 the Company completed the IPO at $10.00 per share. The shares of common stock issuable upon the exercise of warrants outstanding as of June 30, 2013 increased to 1,926,477 shares and the exercise prices of 1,656,860 warrants were adjusted as a result of the share and exercise price adjustment features described above. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
F | Weighted average exercise prices are as of June 30, 2013. |
Fair_Value_of_Warrants_Tables
Fair Value of Warrants (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Assumptions Used in Computing Fair Value of Derivative Warrants | The following tables summarize the assumptions used in computing the fair value of derivative warrants subject to fair value accounting at the date of issue during the six months ended June 30, 2013 and 2012 and at June 30, 2013, April 5, 2013 (IPO valuation date) and December 31, 2012. In computing the fair value of the warrants, if the stated exercise price of the warrants exceeded the assumed value of the Company stock at the date the fair value was being computed, the exercise price and number of shares (if applicable) underlying the warrants were adjusted to reflect an assumed trigger of the price and/or share adjustment features related to the applicable warrants: | The following tables summarize the assumptions used in computing the fair value of derivative warrants subject to fair value accounting at the date of issue during the years ended December 31, 2012, 2011 and 2010 and at December 31, 2012 and 2011. In computing the fair value of the warrants, if the stated exercise price of the warrants exceeded the assumed value of the Company stock at the date the fair value was being computed, the exercise price and number of shares (if applicable) underlying the warrants were adjusted to reflect an assumed trigger of the price and/or share adjustment features related to the applicable warrants. Such adjustments were only applicable to 2012 due to the relative price of the warrants and the assumed Company stock price: | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt Guarantee | Issued During | As of | As of | As of | As of | |||||||||||||||||||||||||||||||||||||||||||||
the Six | June 30, 2013 | April 5, 2013 | December 31, 2012 | December 31, | ||||||||||||||||||||||||||||||||||||||||||||||
Months Ended | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2012 | Series A | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 42.5 | $ | 10 | $ | 13.56 | $ | 9.6 | Exercise Price | $ | 4 | |||||||||||||||||||||||||||||||||||||||
Expected life (years) | 4.73 | 1.33 | 2.42 | 2.66 | Expected life (years) | 0.83 | ||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 80.47 | % | 56.12 | % | 66.37 | % | 67.71 | % | Expected volatility | 64.13 | % | |||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.9 | % | 0.15 | % | 0.32 | % | 0.37 | % | Risk-free interest rate | 0.12 | % | |||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | Expected dividend yield | 0 | % | |||||||||||||||||||||||||||||||||||||||
Series B | As of | As of | Issued During | As of | ||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2013 | December 31, 2012 | the Year Ended | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 10 | $ | 9.6 | December 31, | |||||||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 2.42 | 2.92 | 2012 | 2011 | 2010 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 62.22 | % | 61.44 | % | Debt Guarantee | |||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.36 | % | 0.36 | % | Exercise Price | $ | 9.6 | $ | 32.45 | $ | 25 | $ | 28.78 | $ | 25.85 | |||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | Expected life (years) | 4.66 | 5 | 5.42 | 2.66 | 3.26 | ||||||||||||||||||||||||||||||||||||||||
Expected volatility | 80.05 | % | 77.35 | % | 79.37 | % | 67.71 | % | 76.53 | % | ||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.82 | % | 1.76 | % | 1.6 | % | 0.37 | % | 0.51 | % | ||||||||||||||||||||||||||||||||||||||||
Consulting | As of | As of | As of | Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||||||||||||||||||||||||||
June 30, 2013 | April 5, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 10 | $ | 10 | $ | 9.6 | ||||||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 2.65 | 2.33 | 2.48 | Issued During | As of December 31, | |||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 60.7 | % | 63.2 | % | 63.29 | % | the Year Ended | |||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.66 | % | 0.27 | % | 0.28 | % | December 31, 2010 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | Series B | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 25 | $ | 9.6 | $ | 25 | ||||||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 5 | 2.92 | 3.92 | |||||||||||||||||||||||||||||||||||||||||||||||
Issued During the Six Months Ended | Issued During the | As of June 30, | As of April 5, | As of December 31, | Expected volatility | 80.22 | % | 61.44 | % | 81.59 | % | |||||||||||||||||||||||||||||||||||||||
June 30, | Three Months | 2013 | 2013 | 2012 | Risk-free interest rate | 1.51 | % | 0.36 | % | 0.36 | % | |||||||||||||||||||||||||||||||||||||||
Ended | Expected dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Financing | 2013 | 2012 | June 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 13.34 | $ | 42.5 | $ | 42.5 | $ | 10 | $ | 13.21 | $ | 9.6 | ||||||||||||||||||||||||||||||||||||||
Expected life (years) | 9.78 | 4.84 | 4.91 | 2.75 | 8.3 | 6.66 | Issued During | As of December 31, | ||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 74.7 | % | 79.43 | % | 79.52 | % | 60.95 | % | 73.22 | % | 73.38 | % | the Year Ended | |||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 1.95 | % | 0.84 | % | 0.89 | % | 0.66 | % | 1.44 | % | 1.06 | % | December 31, | |||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 2011 | 2010 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||
Consulting | ||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 25 | $ | 13.65 | $ | 9.6 | $ | 16.25 | ||||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 5 | 5 | 2.48 | 3.48 | ||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 78.45 | % | 81.12 | % | 63.29 | % | 81.87 | % | ||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 2.07 | % | 2.59 | % | 0.28 | % | 0.47 | % | ||||||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||||||||||||||||||||||||||||||||
Issued During | As of December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||
the Year Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Financing | ||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 23.69 | $ | 32.25 | $ | 9.6 | $ | 32.25 | ||||||||||||||||||||||||||||||||||||||||||
Expected life (years) | 6.81 | 5.01 | 6.66 | 4.56 | ||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 77.74 | % | 78.45 | % | 73.38 | % | 79.4 | % | ||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 1.19 | % | 1.59 | % | 1.06 | % | 0.83 | % | ||||||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||||||||||||||||||||||||||||||||
Summary of Derivative Warrant Activity | The following table summarizes the derivative warrant activity subject to fair value accounting for the six months ended June 30, 2013: | The following table summarizes the derivative warrant activity subject to fair value accounting for the years ended December 31, 2012, 2011 and 2010: | ||||||||||||||||||||||||||||||||||||||||||||||||
Issued with/for | Fair value of | Fair value | Reclassification | Change in | Fair value of | Issued with | Issued with | Issued For | Issued For | Issued For | Total | |||||||||||||||||||||||||||||||||||||||
warrants | of warrants | to equity in | fair value | warrants | Series A | Series B | Debt | Consulting | Financing | |||||||||||||||||||||||||||||||||||||||||
outstanding as of | issued | IPO | of warrants | outstanding as of | Preferred | Preferred | Guarantee | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | June 30, 2013 | Stock | Stock | |||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock | $ | 230,000 | $ | — | $ | — | $ | (12,000 | ) | $ | 218,000 | Fair value of warrants outstanding as of January 1, 2010 | $ | 27,000 | $ | — | $ | 1,409,000 | $ | — | $ | — | $ | 1,436,000 | ||||||||||||||||||||||||||
Debt Guarantee | 5,679,000 | — | (2,514,000 | ) | (3,129,000 | ) | 36,000 | Fair value of warrants issued | — | 328,000 | 415,000 | 65,000 | — | 808,000 | ||||||||||||||||||||||||||||||||||||
Consulting | 147,000 | — | (108,000 | ) | (38,000 | ) | 1,000 | Change in fair value of warrants | 36,000 | (14,000 | ) | 1,969,000 | 35,000 | — | 2,026,000 | |||||||||||||||||||||||||||||||||||
Financing | 6,493,000 | 268,000 | (4,548,000 | ) | (1,950,000 | ) | 263,000 | |||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants outstanding as of December 31, 2010 | 63,000 | 314,000 | 3,793,000 | 100,000 | — | 4,270,000 | ||||||||||||||||||||||||||||||||||||||||||||
$ | 12,549,000 | $ | 268,000 | $ | (7,170,000 | ) | $ | (5,129,000 | ) | $ | 518,000 | Fair value of warrants issued | — | — | 831,000 | 69,000 | 1,970,000 | 2,870,000 | ||||||||||||||||||||||||||||||||
Warrants amended | — | — | (6,415,000 | ) | — | — | (6,415,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Change in fair value of warrants | 157,000 | 846,000 | 8,784,000 | 278,000 | 323,000 | 10,388,000 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants outstanding as of December 31, 2011 | 220,000 | 1,160,000 | 6,993,000 | 447,000 | 2,293,000 | 11,113,000 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants issued | — | — | 1,583,000 | — | 4,961,000 | 6,544,000 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants exercised | (55,000 | ) | — | — | — | — | (55,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Warrant restructuring | — | — | 268,000 | — | 2,217,000 | 2,485,000 | ||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of warrants | (165,000 | ) | (930,000 | ) | (3,165,000 | ) | (300,000 | ) | (2,978,000 | ) | (7,538,000 | ) | ||||||||||||||||||||||||||||||||||||||
Fair value of warrants outstanding as of December 31, 2012 | $ | — | $ | 230,000 | $ | 5,679,000 | $ | 147,000 | $ | 6,493,000 | $ | 12,549,000 | ||||||||||||||||||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||
Summary of Financial Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes the financial liabilities measured at fair value on a recurring basis segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: | The following table summarizes the financial liabilities measured at fair value on a recurring basis segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: | ||||||||||||||||||||||||||||||||
June 30, 2013 | 2012 | |||||||||||||||||||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | Total | Quoted Prices in | Significant Other | Significant | |||||||||||||||||||||||||||
Active Markets for | Observable | Unobservable | Active Markets for | Observable | Unobservable | |||||||||||||||||||||||||||||
Identical Assets | Inputs | Inputs | Identical Assets | Inputs | Inputs | |||||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||||||
Warrant liability | $ | 518,000 | — | — | $ | 518,000 | Warrant liability | $ | 12,549,000 | — | — | $ | 12,549,000 | |||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | 2011 | ||||||||||||||||||||||||||||||
Active Markets for | Observable | Unobservable | Total | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||||||||||||
Identical Assets | Inputs | Inputs | Active Markets for | Observable | Unobservable | |||||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Identical Assets | Inputs | Inputs | |||||||||||||||||||||||||||||
Warrant liability | $ | 12,549,000 | — | — | $ | 12,549,000 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||
Warrant liability | $ | 11,113,000 | — | — | $ | 11,113,000 | ||||||||||||||||||||||||||||
Summary of Activity for Liabilities Measured at Fair Value Using Level 3 Inputs | The following table reflects the activity for liabilities measured at fair value using Level 3 inputs for the six months ended June 30: | The following table reflects the activity for liabilities measured at fair value using Level 3 inputs for the year ended December 31: | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Balance as of January 1 | $ | 12,549,000 | $ | 11,113,000 | Balance as of January 1 | $ | 11,113,000 | $ | 4,270,000 | |||||||||||||||||||||||||
Issuances of derivative financial instruments | 268,000 | 2,296,000 | Derivative financial instruments reclassified to equity upon amendment | — | (6,415,000 | ) | ||||||||||||||||||||||||||||
Derivative financial instruments reclassified to equity in IPO | (7,170,000 | ) | Issuances of derivative financial instruments | 6,544,000 | 2,870,000 | |||||||||||||||||||||||||||||
Unrealized (gain) loss related to change in fair value | (5,129,000 | ) | (3,036,000 | ) | Warrant restructuring | 2,485,000 | — | |||||||||||||||||||||||||||
Warrant exercised | (55,000 | ) | — | |||||||||||||||||||||||||||||||
Balance as of June 30 | $ | 518,000 | $ | 10,373,000 | Unrealized (gain) loss related to change in fair value | (7,538,000 | ) | 10,388,000 | ||||||||||||||||||||||||||
Balance as of December 31 | $ | 12,549,000 | $ | 11,113,000 | ||||||||||||||||||||||||||||||
Other_Current_Assets_Tables
Other Current Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |||||||||
Other Current Assets | At December 31, 2012 and 2011, other current assets consisted of the following: | ||||||||
2012 | 2011 | ||||||||
Inventory probes and arrays | $ | 233,767 | $ | 203,507 | |||||
Prepaid expenses | 255,511 | 65,762 | |||||||
$ | 489,278 | $ | 269,269 | ||||||
Lease_Commitments_Tables
Lease Commitments (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Text Block [Abstract] | |||||||||||||
Minimum Future Lease Payments Under All Capital and Operating Leases | Minimum future lease payments under all capital and operating leases as of December 31, 2012 are as follows: | ||||||||||||
Capital | Operating | Total | |||||||||||
Leases | Leases | ||||||||||||
December 31, | |||||||||||||
2013 | $ | 18,275 | $ | 560,468 | $ | 578,743 | |||||||
2014 | 7,614 | 593,351 | 600,965 | ||||||||||
2015 | — | 604,581 | 604,581 | ||||||||||
2016 | — | 567,000 | 567,000 | ||||||||||
2017 | — | 567,001 | 567,001 | ||||||||||
Thereafter | — | 49,100 | 49,100 | ||||||||||
Total minimum lease payments | 25,889 | $ | 2,941,501 | $ | 2,967,390 | ||||||||
Less amount representing interest | 1,241 | ||||||||||||
Present value of net minimum obligations | 24,648 | ||||||||||||
Less current obligation under capital lease | 17,158 | ||||||||||||
Long-term obligation under capital lease | $ | 7,490 | |||||||||||
Fixed_Assets_Tables
Fixed Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
Property Plant And Equipment [Abstract] | |||||||||
Fixed Assets Summary by Major Classifications | Fixed assets are summarized by major classifications as follows: | ||||||||
2012 | 2011 | ||||||||
Equipment | $ | 1,914,215 | $ | 1,752,398 | |||||
Furniture | 461,119 | 461,119 | |||||||
Leasehold improvements | 583,592 | 583,592 | |||||||
2,958,926 | 2,797,109 | ||||||||
Less accumulated depreciation | (1,994,003 | ) | (1,656,473 | ) | |||||
Net fixed assets | $ | 964,923 | $ | 1,140,636 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||
Income Tax Reconciliation | The provision for income taxes for the years ended December 31, 2012, 2011 and 2010 differs from the approximate amount of income tax benefit determined by applying the U.S. federal income tax rate to pre-tax loss, due to the following: | ||||||||||||||||||||||||
For the Year Ended | For the Year Ended | For the Year Ended | |||||||||||||||||||||||
December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||||||||||||||||
Amount | % of | Amount | % of | Amount | % of | ||||||||||||||||||||
Pretax | Pretax | Pretax | |||||||||||||||||||||||
Loss | Loss | Loss | |||||||||||||||||||||||
Income tax benefit at federal statutory rate | $ | (2,333,000 | ) | 35 | % | $ | (6,960,000 | ) | 35 | % | $ | (2,943,000 | ) | 35 | % | ||||||||||
State tax provision, net of federal tax benefit | (661,000 | ) | 9.5 | % | (604,000 | ) | 3 | % | (437,000 | ) | 5.2 | % | |||||||||||||
Tax credits | (82,000 | ) | 1.1 | % | (57,000 | ) | 0.3 | % | (26,000 | ) | 0.3 | % | |||||||||||||
Stock option permanent differences | 85,000 | -1.2 | % | 43,000 | -0.2 | % | 33,000 | -0.4 | % | ||||||||||||||||
Derivative warrant permanent differences | (1,926,000 | ) | 26 | % | 3,636,000 | -18.2 | % | 16,000 | -0.2 | % | |||||||||||||||
Change in valuation allowance | 4,858,000 | -70.2 | % | 5,320,000 | -26.8 | % | 2,543,000 | -30.3 | % | ||||||||||||||||
Change in uncertain tax positions | — | 0 | % | (1,395,000 | ) | 7 | % | 1,003,000 | -11.9 | % | |||||||||||||||
Other | 59,000 | -0.2 | % | 17,000 | -0.1 | % | (189,000 | ) | 2.3 | % | |||||||||||||||
Provision for income taxes | $ | — | 0 | % | $ | — | 0 | % | $ | — | 0 | % | |||||||||||||
Components of Approximate Deferred Tax | Approximate deferred taxes consist of the following components as of December 31, 2012 and 2011: | ||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Net operating loss carryforwards | $ | 15,134,000 | $ | 10,575,000 | |||||||||||||||||||||
Accruals and reserves | 486,000 | 568,000 | |||||||||||||||||||||||
Non-qualified stock options | 844,000 | 575,000 | |||||||||||||||||||||||
Research and development tax credits | 477,000 | 395,000 | |||||||||||||||||||||||
Derivative warrant liability | 26,000 | 26,000 | |||||||||||||||||||||||
Other | 7,000 | 9,000 | |||||||||||||||||||||||
Total deferred tax assets | 16,974,000 | 12,148,000 | |||||||||||||||||||||||
Less valuation allowance | (16,947,000 | ) | (12,089,000 | ) | |||||||||||||||||||||
Net deferred tax assets | 27,000 | 59,000 | |||||||||||||||||||||||
Deferred tax liabilities | |||||||||||||||||||||||||
Fixed assets | (27,000 | ) | (59,000 | ) | |||||||||||||||||||||
Net deferred taxes | $ | — | $ | — | |||||||||||||||||||||
Aggregate Changes in Balance of Unrecognized Tax Benefits | The aggregate changes in the balance of unrecognized tax benefits were as follows: | ||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Balance, beginning of year | $ | — | $ | 1,395,000 | |||||||||||||||||||||
Changes in expected tax position | — | (1,395,000 | ) | ||||||||||||||||||||||
Balance, end of year | $ | — | $ | — | |||||||||||||||||||||
Organization_Description_of_Bu1
Organization, Description of Business, Reverse Stock Splits and Initial Public Offering - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||
Apr. 10, 2013 | Mar. 01, 2013 | Feb. 08, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 27, 2012 | Nov. 27, 2012 | Nov. 27, 2012 | Nov. 27, 2012 | Mar. 01, 2013 | Feb. 08, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Preferred Stock [Member] | Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A-1 and our Series B preferred stock [Member] | Reverse stock split [Member] | Reverse stock split [Member] | Cancer Genetics Italia SRL [Member] | Cancer Genetics Italia SRL [Member] | Cancer Genetics Italia SRL [Member] | Cancer Genetics Italia SRL [Member] | Cancer Genetics Italia SRL [Member] | Cancer Genetics Italia SRL [Member] | Cancer Genetics Italia SRL [Member] | |||||||||||
Before Amendment [Member] | After Amendment [Member] | ||||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items] | |||||||||||||||||||||||
Total assets | $6,455,584 | $6,455,584 | $8,951,771 | $7,031,463 | $311,000 | $311,000 | $329,000 | $236,000 | |||||||||||||||
Revenue | 1,831,649 | 1,148,475 | 3,050,316 | 1,983,227 | 4,301,563 | 3,019,407 | 2,521,579 | 48,000 | 21,000 | 92,000 | 36,000 | 91,000 | 103,000 | 28,000 | |||||||||
Reverse stock split ratio | 0.4 | 0.5 | 0.4 | 0.5 | |||||||||||||||||||
Number of common stock sold at public offering | 690,000 | 4,316,691 | 4,316,691 | 1,349,936 | 1,295,026 | ||||||||||||||||||
Public offering price per share | $10 | ||||||||||||||||||||||
Gross proceeds from initial public offering | 6,900,000 | ||||||||||||||||||||||
Net proceeds from initial public offering | 5,000,000 | 5,054,514 | |||||||||||||||||||||
Aggregate number of Series A and Series B convertible preferred stock converted into common stock | 1,287,325 | ||||||||||||||||||||||
Fair value of derivative warrants | 7,200,000 | 7,170,000 | |||||||||||||||||||||
Value of debt converted | 9,634,300 | ||||||||||||||||||||||
Conversion of debt into common stock | 963,430 | 12,596,066 | |||||||||||||||||||||
Conversion of preferred stock | $241 | $25,000,000 | $15,000,000 | ||||||||||||||||||||
Conversion ratio | 0.6 | 0.2 |
Significant_Accounting_Policie3
Significant Accounting Policies - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
Patents [Member] | Patents [Member] | Minimum [Member] | Maximum [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | ||||
Significant Accounting Policies [Line Items] | |||||||||
Underwritten public offering | $15,000,000 | ||||||||
Outstanding indebtedness | 3,500,000 | ||||||||
Outstanding indebtedness maturity date | 15-Aug-13 | ||||||||
Deferred offering costs reclassified to additional paid-in capital | 2,500,000 | ||||||||
Offering costs discounted | 733,250 | ||||||||
Deferred cost expected to be refunded | 120,000 | ||||||||
Deferred offering cost | 617,706 | ||||||||
Anticipated financing cost | 143,000 | ||||||||
Income tax benefit | -663,900 | -663,900 | |||||||
Accrued liability related to registration rights obligations associated with the issuance of Series B preferred stock and certain notes payable | 300,000 | 541,000 | |||||||
Federal grant awarded | 733,438 | ||||||||
Goal of curing cancer | 30 years | ||||||||
Fixed assets, estimated useful lives | 5 years | 7 years | |||||||
Accumulated amortization of patents | 41,000 | 24,000 | |||||||
Future amortization expense, year 2013 | 15,200 | ||||||||
Future amortization expense, year 2014 | 15,200 | ||||||||
Future amortization expense, year 2015 | 15,200 | ||||||||
Future amortization expense, year 2016 | 15,200 | ||||||||
Future amortization expense, year 2017 | 15,200 | ||||||||
Future amortization expense, year 2018 | 15,200 | ||||||||
Future amortization expense, year 2019 | 12,000 | ||||||||
Future amortization expense, year 2020 | 5,500 | ||||||||
Future amortization expense, year 2021 | 2,800 | ||||||||
Accrued liability | $541,000 | $150,000 |
Significant_Accounting_Policie4
Significant Accounting Policies - Computation of Basic Net Income (Loss) and Diluted Net Loss Per Share Data (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Numerator: | |||||||
Net income (loss) | ($9,142,191) | ($1,860,461) | ($6,781,788) | ($2,932,978) | ($6,665,627) | ($19,887,040) | ($8,407,341) |
Less change in fair value of warrant liability | -170,000 | 1,456,000 | 5,129,000 | 3,036,000 | 7,538,000 | -10,388,000 | -2,026,000 |
Net (loss) for diluted earnings per share | ($9,142,191) | ($3,316,461) | ($11,910,788) | ($5,968,978) | ($14,203,627) | ($19,887,040) | ($8,407,341) |
Denominator: | |||||||
Weighted-average basic common shares outstanding | 3,985,663 | 1,346,124 | 2,667,799 | 1,337,702 | 1,342,174 | 1,274,153 | 1,253,231 |
Assumed conversion of dilutive securities: | |||||||
Common stock purchase warrants | 83,611 | 83,611 | 3,987 | ||||
Potentially dilutive common shares | 83,611 | 83,611 | 3,987 | ||||
Denominator for diluted earnings per share - adjusted weighted-average shares | 3,985,663 | 1,429,735 | 2,667,799 | 1,421,313 | 1,346,161 | 1,274,153 | 1,253,231 |
Basic net income (loss) per share | ($2.29) | ($1.38) | ($2.54) | ($2.19) | ($4.97) | ($15.61) | ($6.71) |
Diluted net income (loss) per share | ($2.29) | ($2.32) | ($4.46) | ($4.20) | ($10.55) | ($15.61) | ($6.71) |
Significant_Accounting_Policie5
Significant Accounting Policies - Summary of Potentially Dilutive Adjustments to Weighted Average Number of Common Shares Excluded from Calculation (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Securities excluded from calculation | 2,434,087 | 2,240,853 | 2,434,087 | 2,240,853 | 2,372,450 | 2,165,663 | 1,983,614 |
Warrants [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Securities excluded from calculation | 1,926,477 | 939,729 | 1,926,477 | 939,729 | 1,102,176 | 888,739 | 745,732 |
Stock Options [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Securities excluded from calculation | 507,610 | 584,190 | 507,610 | 584,190 | 553,340 | 559,990 | 511,660 |
Series A Preferred Stock [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Securities excluded from calculation | 352,614 | 352,614 | 352,614 | 352,614 | 352,614 | ||
Series B Preferred Stock [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Securities excluded from calculation | 364,320 | 364,320 | 364,320 | 364,320 | 364,320 | ||
Secured Note Payable [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Securities excluded from calculation | 9,288 |
Revenue_and_Accounts_Receivabl2
Revenue and Accounts Receivable - Schedule of Revenue by Payor Type (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Revenues By Payer Type [Line Items] | |||||||
Revenue | $1,831,649 | $1,148,475 | $3,050,316 | $1,983,227 | $4,301,563 | $3,019,407 | $2,521,579 |
Medicare [Member] | |||||||
Revenues By Payer Type [Line Items] | |||||||
Revenue | 151,052 | 269,838 | 408,115 | 408,605 | 753,248 | 717,661 | 605,776 |
Direct bill (including clinical trials clients) [Member] | |||||||
Revenues By Payer Type [Line Items] | |||||||
Revenue | 1,226,852 | 344,115 | 1,738,199 | 684,247 | 1,594,509 | 350,290 | 408,356 |
Grants and royalty [Member] | |||||||
Revenues By Payer Type [Line Items] | |||||||
Revenue | 184,500 | 195,000 | 556,940 | 315,195 | 110,000 | ||
Insurance carrier and all others [Member] | |||||||
Revenues By Payer Type [Line Items] | |||||||
Revenue | $453,745 | $350,022 | $904,002 | $695,375 | $1,396,866 | $1,636,261 | $1,397,447 |
Revenue_and_Accounts_Receivabl3
Revenue and Accounts Receivable - Schedule of Accounts Receivable by Payor Type (Detail) (USD $) | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Accounts Receivable [Line Items] | |||
Allowance for doubtful accounts | ($36,000) | ($36,000) | ($24,050) |
Accounts receivable, net | 1,263,241 | 850,545 | 688,980 |
Medicare [Member] | |||
Schedule Of Accounts Receivable [Line Items] | |||
Accounts receivable, gross | 347,677 | 193,024 | 152,186 |
Direct bill (including clinical trials clients) [Member] | |||
Schedule Of Accounts Receivable [Line Items] | |||
Accounts receivable, gross | 388,197 | 339,763 | 64,183 |
Insurance carrier and all others [Member] | |||
Schedule Of Accounts Receivable [Line Items] | |||
Accounts receivable, gross | $563,367 | $353,758 | $496,661 |
Revenue_and_Accounts_Receivabl4
Revenue and Accounts Receivable - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Schedule Of Accounts Receivable [Line Items] | |||||||
Sites accounted for approximately 10% or more of our revenue | 1 | 3 | 1 | 3 | 3 | 2 | 3 |
Clinical testing [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 74.00% | 62.00% | 69.00% | 61.00% | 58.00% | 63.00% | 60.00% |
Community hospitals [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 23.00% | 52.00% | 27.00% | 48.00% | 46.00% | 29.00% | 15.00% |
Community hospitals [Member] | 10% or more clinical revenue [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 11.00% | 12.00% | |||||
University teaching center [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 11.00% | ||||||
University teaching center [Member] | 10% or more clinical revenue [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 13.00% | 17.00% | |||||
Clinical trials client [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 13.00% | ||||||
Clinical trials client [Member] | 10% or more clinical revenue [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 50.00% | 38.00% | |||||
Community hospital network [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 10.00% | 18.00% | 12.00% | ||||
Community hospital network [Member] | 10% or more clinical revenue [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 11.00% | 11.00% | |||||
Community Oncology Practice [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 11.00% | 11.00% | |||||
Regional reference laboratory [Member] | |||||||
Schedule Of Accounts Receivable [Line Items] | |||||||
Percentage of revenue | 11.00% |
Notes_Payable_and_Lines_of_Cre2
Notes Payable and Lines of Credit - Summary of Short-Term and Long-Term Debt Obligations (Detail) (USD $) | Jun. 30, 2013 | Apr. 10, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2008 |
Debt Obligations [Line Items] | |||||
Notes Payable, Current Portion | $1,564,014 | $3,836,567 | $100,000 | ||
Line of Credit, Principal Balance | 1,500,000 | ||||
Unamortized Debt Discount | -3,500,000 | -161,000 | -3,191 | ||
Line of Credit, Current Portion | 7,996,500 | 2,871,200 | |||
Lines of Credit, Long-Term | 6,000,000 | 8,437,255 | |||
Notes Payable, Long-Term | 2,440,683 | 1,912,365 | |||
December 2011 Financing Transaction [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 1,500,000 | 6,000,000 | |||
Secured Note Payable [Member] | |||||
Debt Obligations [Line Items] | |||||
Notes Payable, Current Portion | 64,014 | ||||
Other Note Payable [Member] | |||||
Debt Obligations [Line Items] | |||||
Notes Payable, Long-Term | 100,000 | ||||
Notes Payable, Current Portion [Member] | |||||
Debt Obligations [Line Items] | |||||
Unamortized debt discount | -243,300 | ||||
Notes Payable, Current Portion | 1,564,014 | 3,836,567 | 100,000 | ||
Notes Payable, Current Portion [Member] | December 2011 Financing Transaction [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 1,500,000 | 4,000,000 | |||
Notes Payable, Current Portion [Member] | Secured Note Payable [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 64,014 | 79,867 | |||
Notes Payable, Current Portion [Member] | Other Note Payable [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 100,000 | ||||
Line of Credit, Current [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 8,000,000 | 3,000,000 | |||
Unamortized Debt Discount | -3,500 | -128,800 | |||
Line of Credit, Current Portion | 7,996,500 | 2,871,200 | |||
Notes Payable Noncurrent [Member] | |||||
Debt Obligations [Line Items] | |||||
Unamortized debt discount | -3,681,615 | -1,087,635 | |||
Notes Payable, Long-Term | 2,440,683 | 1,912,365 | |||
Notes Payable Noncurrent [Member] | December 2011 Financing Transaction [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 2,000,000 | 3,000,000 | |||
Notes Payable Noncurrent [Member] | Secured Note Payable [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 22,298 | ||||
Notes Payable Noncurrent [Member] | 2012 convertible debt financing transaction [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 3,000,000 | ||||
Notes Payable Noncurrent [Member] | December 2012 Bridge Financing Transaction [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 1,000,000 | ||||
Notes Payable Noncurrent [Member] | Other Note Payable [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 100,000 | ||||
Lines of Credit, Long-Term [Member] | |||||
Debt Obligations [Line Items] | |||||
Line of Credit, Principal Balance | 6,000,000 | 9,000,000 | |||
Unamortized debt discount | -562,745 | ||||
Lines of Credit, Long-Term | $6,000,000 | $8,437,255 |
Notes_Payable_and_Lines_of_Cre3
Notes Payable and Lines of Credit - Conversion of Indebtedness into Shares of Common Stock (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 1 Months Ended | ||||||
Apr. 10, 2013 | Jun. 30, 2013 | Apr. 10, 2013 | Apr. 10, 2013 | Apr. 10, 2013 | Dec. 07, 2012 | Apr. 10, 2013 | Feb. 13, 2013 | Apr. 10, 2013 | |
December 2011 Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | Business Lines of Credit (DAM) [Member] | Business Lines of Credit (DAM) [Member] | Other Notes Payable and Accrued Interest [Member] | |||
Debt Conversion [Line Items] | |||||||||
Converted Amount | $9,634,300 | $4,500,000 | $3,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $134,300 | ||
Common Shares | 963,430 | 12,596,066 | 450,000 | 300,000 | 100,000 | 100,000 | 100,000 | 13,430 |
Notes_Payable_and_Lines_of_Cre4
Notes Payable and Lines of Credit - Additional Information (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | 6 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Apr. 10, 2013 | Aug. 14, 2012 | Feb. 29, 2012 | Sep. 30, 2011 | Jan. 31, 2008 | Jan. 22, 2007 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 27, 2012 | Sep. 06, 2012 | Dec. 31, 2012 | Apr. 10, 2013 | Dec. 31, 2012 | Oct. 22, 2012 | Feb. 11, 2013 | Apr. 10, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Feb. 13, 2013 | Feb. 13, 2013 | Feb. 13, 2013 | Apr. 10, 2013 | Oct. 23, 2012 | Oct. 15, 2012 | Dec. 22, 2011 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Oct. 15, 2012 | Dec. 31, 2012 | Oct. 23, 2012 | Dec. 31, 2012 | Apr. 10, 2013 | Dec. 31, 2012 | Apr. 10, 2013 | Oct. 23, 2012 | Dec. 22, 2011 | Dec. 31, 2012 | Jun. 30, 2013 | Feb. 13, 2012 | Oct. 23, 2012 | Apr. 10, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Feb. 13, 2012 | Jun. 30, 2013 | Apr. 10, 2013 | Dec. 31, 2012 | Feb. 13, 2012 | Feb. 13, 2012 | Dec. 31, 2012 | Oct. 23, 2012 | Aug. 27, 2012 | Dec. 31, 2012 | Nov. 27, 2012 | Oct. 17, 2012 | Dec. 31, 2012 | Aug. 27, 2012 | Aug. 27, 2012 | Oct. 17, 2012 | Aug. 27, 2012 | Dec. 31, 2012 | Oct. 17, 2012 | Aug. 27, 2012 | Dec. 31, 2012 | Oct. 17, 2012 | Feb. 22, 2013 | Apr. 10, 2013 | Dec. 07, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 07, 2012 | Dec. 31, 2012 | Dec. 07, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 07, 2013 | Mar. 07, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Oct. 16, 2012 | Mar. 31, 2012 | Mar. 23, 2011 | Mar. 23, 2011 | Mar. 23, 2011 | Oct. 17, 2012 | Oct. 17, 2012 | Feb. 13, 2013 | Jun. 30, 2013 | Apr. 10, 2013 | Dec. 31, 2012 | Apr. 10, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Apr. 10, 2013 | Apr. 10, 2013 | Feb. 13, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Mar. 19, 2013 | Dec. 31, 2012 | Apr. 10, 2013 | Apr. 10, 2013 | Feb. 22, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Apr. 10, 2013 | Feb. 22, 2013 | Apr. 10, 2013 | Feb. 22, 2013 | Apr. 10, 2013 | ||
Scenario, Plan [Member] | IPO [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | NNJCA [Member] | NNJCA [Member] | Dr. Pecora [Member] | Convertible Debt Securities [Member] | Convertible Debt Securities [Member] | Convertible Debt Securities [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | December 2011 Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | Convertible Debt Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | Wells Fargo Bank [Member] | Wells Fargo Bank [Member] | Wells Fargo Bank [Member] | DAM Holdings, LLC [Member] | DAM Holdings, LLC [Member] | DAM Holdings, LLC [Member] | DAM Holdings, LLC [Member] | DAM Holdings, LLC [Member] | DAM Holdings, LLC [Member] | DAM Holdings, LLC [Member] | DAM Holdings, LLC [Member] | Secured Note Payable [Member] | Secured Note Payable [Member] | Secured Note Payable [Member] | Other Note Payable [Member] | Other Note Payable [Member] | Other Note Payable [Member] | Other Note Payable [Member] | Wells Fargo [Member] | Business Lines of Credit (DAM) [Member] | Business Lines of Credit (DAM) [Member] | Business Lines of Credit (DAM) [Member] | Business Lines of Credit (DAM) [Member] | Business Lines of Credit (DAM) [Member] | Business Lines of Credit (DAM) [Member] | Business Lines of Credit (DAM) [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | |||||||||||||
Minimum [Member] | John Pappajohn [Member] | NNJCA [Member] | Prime rate plus [Member] | Maturing April 1, 2014 [Member] | Maturing August 15, 2013 [Member] | Maturing August 15, 2013 [Member] | Short-term Debt [Member] | Warrants issued as a consequence of not consummating IPO [Member] | Prepay loan prior to February 12, 2013 [Member] | Prepay loan prior to February 12, 2013 [Member] | Scenario, Plan [Member] | Scenario, Plan [Member] | IPO [Member] | Minimum [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | NNJCA [Member] | NNJCA [Member] | NNJCA [Member] | NNJCA [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Mr. Pappajohn, Dr. Pecora and NNJCA [Member] | Mr. Pappajohn, Dr. Pecora and NNJCA [Member] | Spouse [Member] | Restated credit agreement [Member] | Restated credit agreement [Member] | Restated credit agreement [Member] | Prime rate plus [Member] | Scenario, Plan [Member] | Scenario, Plan [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | Mr. Oman [Member] | Mr. Oman [Member] | Mr. Oman [Member] | Class G Warrants [Member] | IPO [Member] | IPO [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | Warrants [Member] | Warrants [Member] | One Month London Interbank Offered Rate [Member] | Scenario, Forecast [Member] | If certain maturity events do occur prior to April 1, 2013 [Member] | John Pappajohn [Member] | John Pappajohn [Member] | Convertible Debt Securities [Member] | IPO [Member] | IPO [Member] | IPO [Member] | John Pappajohn [Member] | John Pappajohn [Member] | Mr. Oman [Member] | Mr. Oman [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Scenario, Plan [Member] | Scenario, Plan [Member] | Restated credit agreement [Member] | Restated credit agreement [Member] | Restated credit agreement [Member] | Restated credit agreement [Member] | Restated credit agreement [Member] | Restated credit agreement [Member] | Prime rate plus [Member] | Scenario, Plan [Member] | John Pappajohn [Member] | John Pappajohn [Member] | Scenario, Plan [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discount on notes | $3,500,000 | $3,191 | $161,000 | $1,642,490 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued fee on debt instrument | 419,000 | 130,000 | 130,000 | 52,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognizable conversion feature in converted debt | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line of credit outstanding under credit agreement | 6,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt outstanding principal | 1,500,000 | 500,000 | 1,500,000 | 1,500,000 | 6,000,000 | 2,000,000 | 4,000,000 | 1,000,000 | 1,500,000 | 500,000 | 500,000 | 2,000,000 | 3,000,000 | 1,750,000 | 1,250,000 | 1,000,000 | 1,000,000 | 3,000,000 | 1,750,000 | 1,250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable, Current Portion | 1,564,014 | 3,836,567 | 100,000 | 1,500,000 | 64,014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of outstanding debt to common stock | 9,634,300 | 500,000 | 4,500,000 | 4,000,000 | 500,000 | 1,000,000 | 1,000,000 | 1,000,000 | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares | 963,430 | 12,596,066 | 50,000 | 450,000 | 450,000 | 100,000 | 100,000 | 13,430 | 100,000 | 300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price of loan | $10 | $10 | $42.50 | $42.50 | $42.50 | $42.50 | $10 | $10 | $42.50 | $10 | $10 | $10 | $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument spread on variable rate | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 1.75% | 1.75% | 6.25% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate at period end | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 1.96% | 9.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity date | 15-Aug-13 | 1-Apr-14 | 13-Aug-13 | 15-Aug-13 | 26-Feb-14 | 26-Feb-14 | 7-Jun-14 | 1-Apr-14 | 1-Apr-14 | 1-Apr-13 | 1-Apr-14 | 1-Apr-14 | 15-Aug-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument amount paid upon conversion of the notes | 50,527 | 50,527 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IPO funding period | 181 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants duration | 5 years | 10 years | 10 years | 10 years | 10 years | 10 years | 10 years | 10 years | 10 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase aggregate common stock | 2,353 | 7,059 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $4 | $14.10 | $14.10 | $12.15 | [1] | $25.30 | $15 | $42.50 | $42.50 | $42.50 | $42.50 | $42.50 | $42.50 | $42.50 | $42.50 | $42.50 | $12.50 | $42.50 | $42.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings from utilization of line of credit | 6,000,000 | 6,000,000 | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest on line of credit at end period | 1.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line of credit, indebtedness | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 320,000 | 35,422 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate equal to prime rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual interest rate, maximum | 18.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate | 12.00% | 10.00% | 18.00% | 18.00% | 18.00% | 8.50% | 8.50% | 8.50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable | 64,014 | 102,165 | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable, Long-Term | 2,440,683 | 1,912,365 | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest on notes payable | 34,300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing amount | 2,000,000 | 4,000,000 | 3,000,000 | 4,000,000 | 1,000,000 | 1,500,000 | 1,500,000 | 500,000 | 500,000 | 1,000,000 | 750,000 | 1,000,000 | 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan repayment period | 30 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from IPO | 5,000,000 | 5,054,514 | 15,000,000 | 15,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant issued | 228,288 | 3,546 | 8,865 | 70,598 | 65,328 | 70,598 | 10,157 | 9,412 | 84,705 | 20,669 | 28,235 | 7,059 | 114,510 | 7,059 | 23,529 | 2,353 | 2,353 | 15,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price discount on IPO or merger price | 20.00% | 20.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IPO or merger price | $10 | $53.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant issued | 4,706 | 28,235 | 42,352 | 42,352 | 28,235 | 2,353 | 60,000 | 101.57 | 4,118 | 2,941 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of days after IPO filing | 180 days | 181 days | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuances of securities at a price below exercise price prior | 150,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into common stock | 3,500,000 | 2,000,000 | 500,000 | 2,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of the warrants | 6,415,000 | 12,854 | 144,000 | 298,000 | 267,000 | 2,052,000 | 421,000 | 1,108,000 | 3,097,000 | 47,000 | 839,000 | 306,000 | 1,019,000 | 221,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants agreed to be surrendered | 193,176 | 37,646 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in pre-payment penalties | 130,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on warrant restructuring | -1,862,012 | -2,319,512 | 328,000 | 545,000 | 1,506,512 | 129,500 | 268,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant amended | 75,294 | 37,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity date | 1-Apr-14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price of loan into common stock | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IPO or merger price | $10 | $10 | $53.13 | $10 | $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants cancelled | 28,235 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lock-up agreement period after consummation of IPO | 180 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity date | 1-Apr-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant expiration date | 2016-03 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest payment at maturity date | 52,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest on notes payable | $34,000 | $36,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Weighted average exercise prices are as of June 30, 2013. |
Letter_of_Credit_Additional_In
Letter of Credit - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jul. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Apr. 06, 2012 | |
Debt Disclosure [Abstract] | ||||||
Stand-by letter of credit | $300,000 | $300,000 | $450,000 | $450,000 | $250,000 | |
Letter of credit facility restricted amount | 50,000 | 250,000 | ||||
Letter of credit, reduced | -54,800 | |||||
Capital raise | $20,000,000 |
Capital_Stock_Additional_Infor
Capital Stock - Additional Information (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||
Apr. 10, 2013 | Mar. 01, 2013 | Feb. 08, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 10, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Apr. 10, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Apr. 10, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
Cleveland Clinic [Member] | Scenario, Forecast [Member] | Scenario, Plan [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series A-1 preferred stock [Member] | |||||||
Scenario, Forecast [Member] | Scenario, Actual [Member] | Scenario, Plan [Member] | Holders Agreed to the Waiver [Member] | Maximum [Member] | Scenario, Forecast [Member] | Scenario, Actual [Member] | First 30 Day Period Following Expiration of Merger Period [Member] | 30 Day Period Following First Penalty Period [Member] | Scenario, Plan [Member] | |||||||||||||||||||
Capital Stock [Line Items] | ||||||||||||||||||||||||||||
Number of common stock sold at IPO | 690,000 | 4,316,691 | 1,349,936 | 1,295,026 | 2,000 | |||||||||||||||||||||||
Underwriter's overallotment shares | 90,000 | |||||||||||||||||||||||||||
Common stock sold at IPO, price per share | $10 | |||||||||||||||||||||||||||
Number of shares converted to common stock | 1,287,325 | 376,525 | 910,800 | |||||||||||||||||||||||||
Issue of authorized shares | 9,764,000 | 588,000 | 588,000 | 588,000 | 2,000,000 | 2,000,000 | 2,000,000 | |||||||||||||||||||||
Reverse stock split ratio | 0.4 | 0.5 | ||||||||||||||||||||||||||
Preferred stock liquidation price | $8.46 | $5 | ||||||||||||||||||||||||||
Preferred stock liquidation value | $4,971,866 | $4,971,866 | $9,108,000 | $9,108,000 | ||||||||||||||||||||||||
Common stock issuable up on conversion of preferred stock | 376,550 | 352,614 | 910,800 | 364,320 | ||||||||||||||||||||||||
Gross proceeds | $5,000,000 | $5,054,514 | $15,000,000 | |||||||||||||||||||||||||
Preferred stock conversion price | $10 | $14.10 | $25 | |||||||||||||||||||||||||
Percentage of preferred stock outstanding | 9.01% | 9.01% | ||||||||||||||||||||||||||
Preferred shares penalty percentage | 11.00% | 1.00% | 2.00% | |||||||||||||||||||||||||
Preferred stock holders agreed to waiver | 587,691 | 587,691 | 587,691 | 1,821,600 | 1,821,600 | 1,821,600 | 1,522,600 |
Stock_Option_Plans_Additional_
Stock Option Plans - Additional Information (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Apr. 17, 2013 | Apr. 05, 2013 | Apr. 10, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Apr. 01, 2010 | Apr. 29, 2008 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Oct. 12, 2012 | Jun. 30, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | |
Stock_Plan | OptionPlans | Employees [Member] | Employees [Member] | Employees [Member] | Employees [Member] | Employees [Member] | Employees [Member] | Non-employees [Member] | Non-employees [Member] | Non-employees [Member] | Non-employees [Member] | Strike price of $25.00 or more [Member] | Strike price of $12.50 [Member] | 2008 Stock Option Plan [Member] | 2008 Stock Option Plan [Member] | 2008 Stock Option Plan [Member] | 2008 Stock Option Plan [Member] | 2008 Stock Option Plan [Member] | 2011 Equity Incentive Plan [Member] | 2011 Equity Incentive Plan [Member] | 2011 Equity Incentive Plan [Member] | 2011 Equity Incentive Plan [Member] | Amended [Member] | Before Amendment [Member] | After Amendment [Member] | Stock Option Exchange Program [Member] | Stock Option Exchange Program [Member] | |||||||
Maximum [Member] | Strike price of $25.00 or more [Member] | Strike price of $12.50 [Member] | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||||||||||
Number of equity incentive plans | 2 | |||||||||||||||||||||||||||||||||
Number of common stock shares authorized for issuance | 350,000 | 350,000 | 350,000 | 150,000 | ||||||||||||||||||||||||||||||
Shares of common stock reserved for issuance | 550,000 | 251,475 | ||||||||||||||||||||||||||||||||
Options granted maximum exercisable period | 10 years | |||||||||||||||||||||||||||||||||
Shares available for future awards | 122,390 | 76,660 | 350,000 | 350,000 | ||||||||||||||||||||||||||||||
Issuance of shares under Stock Options Plans | 80,000 | |||||||||||||||||||||||||||||||||
Stock options strike price | $25 | $12.50 | ||||||||||||||||||||||||||||||||
Exchange options for number of options held with exercise price equal to initial public offering price, Percentage | 60.00% | 80.00% | 60.00% | 80.00% | ||||||||||||||||||||||||||||||
Price per share on equity offering | $10 | $10 | $10 | $10 | ||||||||||||||||||||||||||||||
Outstanding stock options | 336,300 | 507,610 | 553,340 | |||||||||||||||||||||||||||||||
Initial public offering exercisable lower price range | $12.50 | |||||||||||||||||||||||||||||||||
Initial public offering exercisable upper price range | $33.80 | |||||||||||||||||||||||||||||||||
Initial offering, options exchanged | 242,070 | |||||||||||||||||||||||||||||||||
Exercise price option | $11.75 | $10 | ||||||||||||||||||||||||||||||||
Approved options issued | 53,500 | |||||||||||||||||||||||||||||||||
Options issued, exercise price | $10 | |||||||||||||||||||||||||||||||||
Additional shares available for future awards | 5,850 | 49,100 | ||||||||||||||||||||||||||||||||
Estimated fair value of common stock | $9.96 | $9.60 | ||||||||||||||||||||||||||||||||
Unrecognized compensation cost related to nonvested stock options granted | $879,831 | $879,831 | $846,810 | $1,262,246 | $27,300 | $190,500 | $1,061,270 | |||||||||||||||||||||||||||
Unrecognized compensation cost related to nonvested stock options granted expect to recognize, period (in years) | 2 years 9 months 18 days | 2 years 7 months 10 days | 3 years 7 months 10 days | 3 months | 6 months | 1 year 4 months 24 days | ||||||||||||||||||||||||||||
Issuance of common stock | 80,000 | |||||||||||||||||||||||||||||||||
Options issued, exercise price | $4 | $25 | ||||||||||||||||||||||||||||||||
Equity incentive plans | 2 | |||||||||||||||||||||||||||||||||
Options granted exercisable period | 10 years | |||||||||||||||||||||||||||||||||
Options issued | 80,000 | |||||||||||||||||||||||||||||||||
Number of shares outstanding | 507,610 | 553,340 | 559,990 | 511,660 | 220,000 | 35,650 | 142,850 | 201,650 | ||||||||||||||||||||||||||
Exercise price | $7.61 | $12.76 | $12.85 | $10.90 | $4 | $4 | $4.80 | $25 | $12.50 | |||||||||||||||||||||||||
Estimated fair value of common stock | $9.60 | $33.80 | $11.90 | $6.72 | $6.72 | $9.34 | $23.35 | $10.60 | $4.60 | |||||||||||||||||||||||||
Option exercised, amount received | 1,600 | |||||||||||||||||||||||||||||||||
Options exercised, total intrinsic value | $293,350 | |||||||||||||||||||||||||||||||||
Surrendered shares | 7,200 |
Stock_Option_Plans_Summary_of_
Stock Option Plans - Summary of Employee and Nonemployee Stock Option Activity (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | |
Options Outstanding, Number of Shares Outstanding | |||||
Beginning balance | 553,340 | 559,990 | 511,660 | 220,000 | |
Granted | 59,350 | 2,400 | 67,615 | 340,660 | |
Exercised | -45,400 | ||||
Cancelled or expired | -105,080 | -9,050 | -19,285 | -3,600 | |
Ending balance | 507,610 | 553,340 | 559,990 | 511,660 | 220,000 |
Exercisable | 375,358 | 401,458 | |||
Options Outstanding, Weighted Average Exercise Price | |||||
Beginning balance | $12.76 | $12.85 | $10.90 | $4 | |
Granted | $10.17 | $33.80 | $26.73 | $14.35 | |
Exercised | $4 | ||||
Cancelled or expired | $20.61 | $23.43 | $11.78 | $4 | |
Ending balance | $7.61 | $12.76 | $12.85 | $10.90 | $4 |
Exercisable | $6.87 | $11.15 | |||
Weighted-Average Remaining Contractual Term (in years) | |||||
Outstanding | 6 years 9 months 11 days | 7 years 1 month 17 days | 8 years 1 month 6 days | 8 years 11 months 19 days | 9 years 1 month 17 days |
Exercisable | 6 years 5 months 9 days | 6 years 11 months 19 days | |||
Aggregate Intrinsic Value | |||||
Outstanding, beginning balance | $1,142,432 | $11,737,710 | $1,693,760 | $176,400 | |
Outstanding, ending balance | 1,217,614 | 1,142,432 | 11,737,710 | 1,693,760 | 176,400 |
Exercisable | $1,168,635 | $1,082,482 |
Stock_Option_Plans_Summary_of_1
Stock Option Plans - Summary of Outstanding and Vested Stock Options Granted (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended |
Apr. 05, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $33.80 | ||
Number of Shares Options Outstanding | 336,300 | 507,610 | 553,340 |
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 6 years 9 months 11 days | 7 years 1 month 17 days | |
Weighted-Average Exercise Price, Options Outstanding | $7.61 | $12.76 | |
Number of Shares Options Vested and Exercisable | 375,358 | 401,458 | |
Weighted-Average Exercise Price, Options Vested and Exercisable | $6.87 | $11.15 | |
Exercise Price 4.00 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $4 | $4 | |
Number of Shares Options Outstanding | 175,000 | 175,000 | |
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 5 years 10 months 2 days | 6 years 3 months 29 days | |
Weighted-Average Exercise Price, Options Outstanding | $4 | $4 | |
Number of Shares Options Vested and Exercisable | 175,000 | 175,000 | |
Weighted-Average Exercise Price, Options Vested and Exercisable | $4 | $4 | |
Exercise Price 4.80 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $4.80 | $4.80 | |
Number of Shares Options Outstanding | 33,840 | 33,840 | |
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 6 years 6 months 18 days | 7 years 18 days | |
Weighted-Average Exercise Price, Options Outstanding | $4.80 | $4.80 | |
Number of Shares Options Vested and Exercisable | 24,348 | 21,350 | |
Weighted-Average Exercise Price, Options Vested and Exercisable | $4.80 | $4.80 | |
Exercise Price 12.50 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $12.50 | $12.50 | |
Number of Shares Options Outstanding | 200 | 201,650 | |
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 7 years 5 months 9 days | 7 years 3 months 7 days | |
Weighted-Average Exercise Price, Options Outstanding | $12.50 | $12.50 | |
Number of Shares Options Vested and Exercisable | 100 | 118,430 | |
Weighted-Average Exercise Price, Options Vested and Exercisable | $12.50 | $12.50 | |
Exercise Price 25.00 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $25 | ||
Number of Shares Options Outstanding | 130,200 | ||
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 7 years 10 months 6 days | ||
Weighted-Average Exercise Price, Options Outstanding | $25 | ||
Number of Shares Options Vested and Exercisable | 83,486 | ||
Weighted-Average Exercise Price, Options Vested and Exercisable | $25 | ||
Exercise Price 31.65 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $31.65 | ||
Number of Shares Options Outstanding | 2,250 | ||
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 8 years 9 months 4 days | ||
Weighted-Average Exercise Price, Options Outstanding | $31.65 | ||
Number of Shares Options Vested and Exercisable | 525 | ||
Weighted-Average Exercise Price, Options Vested and Exercisable | $31.65 | ||
Exercise Price 33.80 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $33.80 | ||
Number of Shares Options Outstanding | 10,400 | ||
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 9 years 7 days | ||
Weighted-Average Exercise Price, Options Outstanding | $33.80 | ||
Number of Shares Options Vested and Exercisable | 2,667 | ||
Weighted-Average Exercise Price, Options Vested and Exercisable | $33.80 | ||
Exercise Price 10.00 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $10 | ||
Number of Shares Options Outstanding | 292,970 | ||
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 7 years 3 months 26 days | ||
Weighted-Average Exercise Price, Options Outstanding | $10 | ||
Number of Shares Options Vested and Exercisable | 175,910 | ||
Weighted-Average Exercise Price, Options Vested and Exercisable | $10 | ||
Exercise Price 11.75 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Price | $11.75 | ||
Number of Shares Options Outstanding | 5,600 | ||
Weighted-Average Remaining Contractual Life, Options Outstanding (in years) | 9 years 9 months 15 days | ||
Weighted-Average Exercise Price, Options Outstanding | $11.75 |
Stock_Option_Plans_WeightedAve
Stock Option Plans - Weighted-Average Assumptions Used to Estimate the Fair Value of Options Granted (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted-average fair value of options granted during the period | 9.6 | 33.8 | 11.9 | ||||
Employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Volatility | 77.11% | 77.11% | 74.39% | 77.39% | 76.13% | 78.02% | |
Risk free interest rate | 0.76% | 0.76% | 1.43% | 1.43% | 2.67% | 3.20% | |
Dividend yield | 0.00% | 0.00% | 0.00% | ||||
Term (years) | 5 years 11 months 12 days | 5 years 11 months 12 days | 6 years 6 months | 6 years 6 months | 6 years 5 months 9 days | 6 years 5 months 19 days | |
Weighted-average fair value of options granted during the period | 6.72 | 6.72 | 9.34 | 23.35 | 10.6 | 4.6 | |
Non-employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Volatility | 76.21% | 74.93% | 76.04% | 74.90% | 75.01% | 75.45% | 77.89% |
Risk free interest rate | 1.23% | 1.44% | 1.24% | 1.45% | 1.26% | 2.85% | 2.76% |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | |||
Term (years) | 7 years 5 months 16 days | 8 years 4 months 6 days | 7 years 6 months 29 days | 8 years 6 months 7 days | 8 years 3 months 11 days | 9 years 2 months 23 days | 9 years 10 months 10 days |
Stock_Option_Plans_Effects_of_
Stock Option Plans - Effects of Stock-Based Compensation Related to Stock Option Awards (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||||
Total stock-based compensation | $172,734 | $287,817 | $289,869 | $564,684 | $915,361 | $943,117 | $455,975 |
Cost of revenues [Member] | |||||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||||
Total stock-based compensation | 11,967 | 5,191 | 14,179 | 8,431 | 11,753 | 9,603 | 17,748 |
Research and development [Member] | |||||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||||
Total stock-based compensation | 35,962 | 129,537 | 90,798 | 269,112 | 460,321 | 423,950 | 64,038 |
General and administrative [Member] | |||||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||||
Total stock-based compensation | 94,112 | 86,314 | 152,267 | 160,724 | 297,175 | 263,693 | 323,380 |
Selling and marketing [Member] | |||||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||||
Total stock-based compensation | $30,693 | $66,775 | $32,625 | $126,417 | $146,112 | $245,871 | $50,809 |
Warrants_Additional_Informatio
Warrants - Additional Information (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Apr. 29, 2013 | Apr. 10, 2013 | Sep. 27, 2012 | Sep. 06, 2012 | Aug. 14, 2012 | Feb. 29, 2012 | Sep. 30, 2011 | Jan. 31, 2008 | Jan. 22, 2007 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Feb. 22, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2011 | Oct. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 01, 2010 | 7-May-08 | Feb. 04, 2008 | Nov. 14, 2011 | Nov. 18, 2010 | Apr. 01, 2010 | Nov. 14, 2007 | Apr. 01, 2010 | Nov. 14, 2007 | 7-May-08 | Feb. 04, 2008 | Jul. 06, 2013 | Jul. 08, 2013 | Feb. 11, 2013 | Oct. 22, 2012 | Feb. 22, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Oct. 31, 2012 | Dec. 31, 2012 | Oct. 22, 2012 | Feb. 11, 2013 | Feb. 11, 2013 | Feb. 22, 2013 | Feb. 11, 2013 | Dec. 31, 2012 | Oct. 31, 2012 | Dec. 31, 2012 | ||
2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | Line of Credit [Member] | Line of Credit [Member] | December 2011 Financing Transactions [Member] | December 2011 Financing Transactions [Member] | December 2011 Financing Transactions [Member] | Consulting and advisory agreement [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Warrant One [Member] | Warrant One [Member] | Warrant Two [Member] | Warrant Two [Member] | Extended Maturity [Member] | Extended Maturity [Member] | Subsequent Event [Member] | Subsequent Event [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | Mr. Oman [Member] | Certain Warrant Holders [Member] | Mr. Pappajohn, Dr. Pecora and NNJCA [Member] | Mr. Pappajohn and Mr. Oman [Member] | Mr. Pappajohn and Mr. Oman [Member] | ||||||||||||||||
Consulting and advisory agreement [Member] | Series A Preferred Stock [Member] | Consulting and advisory agreement [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | 2012 Convertible Debt Financing Transaction [Member] | December 2012 Bridge Financing Transaction [Member] | Debt Guarantees and Extensions [Member] | Debt Guarantees and Extensions [Member] | Debt Guarantees and Extensions [Member] | December 2011 Financing Transactions [Member] | Bridge Loan [Member] | Maximum [Member] | Minimum [Member] | Waived Price and Share Adjustment Provisions [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | 2012 Convertible Debt Financing Transaction [Member] | ||||||||||||||||||||||||||||||||||||
Class of Warrant or Right [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants granted | 4,706 | 28,235 | 2,353 | 15,000 | 60,000 | 20,669 | 112,940 | 4,118 | 1,051,506 | 9,412 | 23,529 | 2,941 | 4,000 | 114,510 | 28,235 | |||||||||||||||||||||||||||||||||||||||
Fair value of warrants at the date of issue | $6,415,000 | $12,854 | $144,000 | $221,000 | $47,000 | $839,000 | $306,000 | $1,019,000 | $606,000 | $1,522,000 | $951,000 | $65,000 | $13,769 | $59,671 | $53,685 | $328,000 | $298,000 | $1,555,000 | $831,000 | $415,000 | $267,000 | $837,000 | $69,000 | $4,090,000 | $1,107,000 | |||||||||||||||||||||||||||||
Term of warrants | 10 years | 10 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Price per share on equity offering | $10 | $10 | $10 | $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Final IPO price to determine exercise price of the warrants | $15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjusted exercise price of warrants on initial public offerings | $15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase common stock, issued | 65,328 | 70,598 | 228,288 | 3,546 | 8,865 | 70,598 | 13,768 | 56,829 | 52,464 | 4,030 | 30,000 | 10,000 | 18,616 | 12,934 | 52,439 | 10,157 | 23,529 | 114,030 | ||||||||||||||||||||||||||||||||||||
Shares issuable on exercise of warrants | 838,889 | [1] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants effected with adjusted exercise price | 1,656,860 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from warrants exercised | 96,000 | 49,999 | 96,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercised to purchase common stock | 24,000 | 6,000 | 24,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock per share value on warrant exercised | $4 | $4 | $4 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants surrendered | 193,176 | 37,646 | 2,072 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | 9,412 | 476,688 | 146,553 | 138,494 | 3,928 | |||||||||||||||||||||||||||||||||||||||||||||||||
Common stock warrants, exercise price | $4 | $14.10 | $14.10 | $12.15 | [2] | $25.30 | $42.50 | $42.50 | $14.10 | $14.10 | $25 | $12.50 | $10.75 | $14.10 | $14.10 | $42.50 | $42.50 | $15 | ||||||||||||||||||||||||||||||||||||
Warrants to purchase common stock, recorded as discount on debt | 3,500,000 | 3,191 | 161,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued to a consultant for services provided | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants amended | 75,294 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, lock-up agreement period | 180 days | 180 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercised, shares | 24,000 | 54,910 | 3,546 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercised, value | $690,227 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, expired | 15,164 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issuable on exercise of warrants outstanding | 1,926,477 | 1,919,643 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock warrants, exercise price description | Subject to the consummation of an IPO prior to April 13, 2013, Mr. Pappajohn agreed that if the final IPO price is below $15.00, the exercise price of the warrants held by him would adjust to $15.00 and the number of shares underlying the warrants would be adjusted as if the IPO price were $15.00 and then there would be no further adjustment to the price or number of shares covered by warrants held by him. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock underlying warrants | 1,926,477 | 1,102,176 | 888,739 | 745,732 | 607,238 | 72,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
[1] | On April 10, 2013 the Company completed the IPO at $10.00 per share. The shares of common stock issuable upon the exercise of warrants outstanding as of June 30, 2013 increased to 1,926,477 shares and the exercise prices of 1,656,860 warrants were adjusted as a result of the share and exercise price adjustment features described above. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Weighted average exercise prices are as of June 30, 2013. |
Warrants_Summary_of_Warrant_Ac
Warrants - Summary of Warrant Activity (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2011 | Jan. 31, 2008 | Jan. 22, 2007 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | 7-May-08 | Feb. 04, 2008 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Nov. 18, 2010 | Dec. 31, 2012 | Dec. 31, 2010 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Warrants Other Warrants [Member] | Warrants Other Warrants [Member] | Warrants Other Warrants [Member] | Warrants Other Warrants [Member] | Warrants Other Warrants [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Financing [Member] | Financing [Member] | Consulting [Member] | Consulting [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Instrument Type One [Member] | Instrument Type One [Member] | Instrument Type One [Member] | Instrument Type Two [Member] | Instrument Type Two [Member] | Instrument Type Two [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued With [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Series A Preferred Stock [Member] | Warrant Issued For [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Derivative [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrants Other Warrants [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrants Other Warrants [Member] | Warrant Issued For [Member] | Warrant Derivative [Member] | Warrant Issued For [Member] | Warrant Derivative [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrants Other Warrants [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Derivative [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Derivative [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | Warrant Derivative [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued With [Member] | Warrant Issued With [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued With [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | Warrant Issued For [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Outstanding Options And Warrants [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, exercise price | $4 | $14.10 | $14.10 | $12.15 | [1] | $25.30 | $6.25 | $32.22 | $4 | $25 | [2] | $25 | [2],[3] | $25 | [2] | $32.45 | [2],[3] | $42.50 | [2],[3],[4] | $42.50 | [3],[4],[5] | $14.10 | $14.10 | $4 | [2] | $10.75 | $14.10 | $25 | $25 | [5] | $12.30 | [1] | $4 | $10 | $15 | $14.10 | $10 | [1] | $25 | [6],[7] | $10 | [6] | $25 | [6],[7],[8] | $25 | [6] | $32.45 | [6],[7],[8] | $42.50 | [6],[7],[8] | $42.50 | [7],[8],[9] | $10 | [9] | $25 | [9] | $14.10 | $42.50 | [7],[8],[9] | $25 | [5] | $10 | $42.50 | [3],[4],[5] | $15 | $42.50 | [2],[4] | $10 | [9] | $42.50 | [2],[3],[4] | $25 | [9] | $12.50 | [2] | $10 | $14.10 | [2] | $10 | [9] | $25 | [5] | $12.50 | [6],[7] | $25 | [2] | $14.10 | [6],[7] | $42.50 | [6],[7] | $42.50 | [6],[7],[8] | $25 | [9] | $25 | [6],[7] | ||||||||||||||||||||||||||||||||||
Warrants outstanding, beginning balance | 1,102,176 | 888,739 | 745,732 | 607,238 | 356,367 | 131,625 | 131,625 | 532,372 | 614,107 | 475,613 | 228,288 | 212,000 | 228,288 | 228,288 | 212,000 | 140,000 | 100,000 | 100,000 | 100,000 | 40,000 | 228,288 | 212,000 | 212,000 | 7,325 | 7,325 | 7,325 | 30,000 | 30,000 | 30,000 | 89,214 | 89,214 | 89,214 | 52,464 | 293,617 | 228,288 | 228,288 | 228,288 | 65,329 | 808,559 | 95,000 | 95,000 | 212,000 | 5,000 | 40,000 | 38,392 | 37,000 | 52,464 | 52,464 | 8,865 | 12,411 | 12,411 | 75,294 | 60,000 | 42,353 | 60,000 | 75,294 | 60,000 | 60,000 | 4,030 | 10,000 | 4,030 | 200 | 4,030 | 4,000 | 10,000 | 54,314 | 120,865 | 200 | 4,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | 9,412 | 476,688 | 146,553 | 138,494 | 476,688 | 146,553 | 138,494 | 75,392 | 40,000 | 75,392 | 72,000 | 75,392 | 75,392 | 40,000 | 75,392 | 37,000 | 52,464 | 9,412 | 2,941 | 189,117 | 60,000 | 189,117 | 42,353 | 54,314 | 2,941 | 120,865 | 2,941 | 4,030 | 10,000 | 200 | 4,000 | 2,941 | 6,471 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercised | -24,000 | -54,910 | -3,546 | -51,098 | -3,546 | -3,812 | -3,812 | -30,000 | -18,616 | -24,000 | -24,000 | -24,000 | -24,000 | -2,482 | -3,546 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
IPO adjustments | 838,889 | [10] | 1,531,696 | [10] | 237,500 | [10] | 237,500 | [10] | 585,645 | [10] | -692,807 | [10] | -95,000 | [10] | 12,500 | [10] | -212,000 | [10] | -5,000 | [10] | -40,000 | [10] | -38,392 | [10] | -37,000 | [10] | 52,464 | [10] | -52,464 | [10] | -75,294 | [10] | 243,334 | [10] | 436,079 | [10] | 60,000 | [10] | -60,000 | [10] | 29,138 | [10] | 200 | [10] | -4,030 | [10] | -10,000 | [10] | -57,255 | [10] | -127,336 | [10] | -200 | [10] | -4,000 | [10] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding, ending balance | 1,926,477 | 1,102,176 | 888,739 | 745,732 | 293,617 | 356,367 | 131,625 | 808,559 | 532,372 | 614,107 | 228,288 | 228,288 | 212,000 | 40,000 | 228,288 | 212,000 | 212,000 | 100,000 | 100,000 | 100,000 | 40,000 | 40,000 | 38,392 | 37,000 | 7,325 | 7,325 | 30,000 | 30,000 | 65,329 | 89,214 | 89,214 | 52,464 | 52,464 | 1,801,313 | 204,288 | 237,500 | 585,645 | 65,329 | 125,164 | 12,500 | 12,500 | 12,500 | 12,500 | 12,500 | 12,500 | 12,500 | 52,464 | 52,464 | 8,865 | 12,411 | 60,000 | 60,000 | 60,000 | 243,334 | 75,294 | 42,353 | 436,079 | 54,314 | 60,000 | 120,865 | 60,000 | 4,030 | 4,030 | 29,138 | 10,000 | 10,000 | 200 | 200 | 200 | 200 | 4,000 | 4,000 | 200 | 60,000 | 60,000 | 200 | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants amended | 228,288 | -228,288 | 228,288 | -228,288 | -228,288 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, surrendered | -193,176 | -193,176 | -37,000 | -37,000 | -37,000 | -37,000 | -37,000 | -37,000 | -156,176 | -156,176 | -156,176 | -156,176 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, expired | -15,165 | -11,652 | -3,513 | -3,513 | -5,269 | -6,383 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Weighted average exercise prices are as of June 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | These warrants are subject to fair value accounting and contain exercise price and number of share adjustment features. See Note 13. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Subsequent to year end, these warrants held by John Pappajohn were amended to limit the adjustment feature(s) to $15.00 per share in an initial public offering (totaling 523,551 warrants). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | The exercise price and/or number of share adjustment features of these warrants expire and will no longer be subject to fair value accounting after an initial public offering. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | These warrants are subject to fair value accounting and contain an exercise price adjustment feature. See Note 13. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | These warrants are subject to fair value accounting and contain exercise price and number of share adjustment features. See Note 9. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | The exercise price and/or number of share adjustment features of these warrants expired and are no longer subject to fair value accounting after our initial public offering. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | On February 11, 2013, these warrants held by John Pappajohn were amended to limit the adjustment feature(s) to $15.00 per share in an initial public offering (totaling 530,022 warrants). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | These warrants are subject to fair value accounting and contain an exercise price adjustment feature. See Note 9. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | On April 10, 2013 the Company completed the IPO at $10.00 per share. The shares of common stock issuable upon the exercise of warrants outstanding as of June 30, 2013 increased to 1,926,477 shares and the exercise prices of 1,656,860 warrants were adjusted as a result of the share and exercise price adjustment features described above. |
Warrants_Summary_of_Warrant_Ac1
Warrants - Summary of Warrant Activity (Parenthetical) (Detail) (USD $) | 1 Months Ended | ||||
Apr. 10, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Feb. 11, 2013 | Feb. 11, 2013 | |
IPO [Member] | Subsequent Event [Member] | ||||
IPO [Member] | |||||
Schedule Of Outstanding Options And Warrants [Line Items] | |||||
Share price of warrants held by related party | $15 | $15 | |||
Warrants held by director in total | 530,022 | 523,551 | |||
Share price of common stock at the completion of IPO | $10 | ||||
Shares issuable on exercise of warrants outstanding | 1,926,477 | 1,919,643 | |||
Number of warrants effected with adjusted exercise price | 1,656,860 |
Fair_Value_of_Warrants_Assumpt
Fair Value of Warrants - Assumptions Used in Computing Fair Value of Derivative Warrants (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||
Jun. 30, 2013 | Apr. 05, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Apr. 05, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 30, 2013 | Apr. 05, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Debt Guarantee [Member] | Series A [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Consulting [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | Financing [Member] | |
Changes In Fair Value Of Warrants [Line Items] | ||||||||||||||||||||||||||||
Exercise Price | $10 | $13.56 | $9.60 | $42.50 | $9.60 | $10 | $9.60 | $10 | $9.60 | $10 | ||||||||||||||||||
Exercise Price | $28.78 | $25.85 | $9.60 | $32.45 | $25 | $4 | $9.60 | $25 | $25 | $9.60 | $16.25 | $25 | $13.65 | $10 | $13.21 | $9.60 | $32.25 | $42.50 | $13.34 | $42.50 | $23.69 | $32.25 | ||||||
Expected life (years) | 1 year 3 months 29 days | 2 years 5 months 1 day | 2 years 7 months 28 days | 3 years 3 months 4 days | 4 years 8 months 23 days | 4 years 7 months 28 days | 5 years | 5 years 5 months 1 day | 9 months 29 days | 2 years 5 months 1 day | 2 years 11 months 1 day | 3 years 11 months 1 day | 5 years | 2 years 3 months 29 days | 2 years 5 months 23 days | 3 years 5 months 23 days | 2 years 7 months 24 days | 5 years | 5 years | 2 years 9 months | 8 years 3 months 18 days | 6 years 7 months 28 days | 4 years 6 months 22 days | 4 years 10 months 28 days | 9 years 9 months 11 days | 4 years 10 months 2 days | 6 years 9 months 22 days | 5 years 4 days |
Expected volatility | 56.12% | 66.37% | 67.71% | 76.53% | 80.47% | 80.05% | 77.35% | 79.37% | 64.13% | 62.22% | 61.44% | 81.59% | 80.22% | 63.20% | 63.29% | 81.87% | 60.70% | 78.45% | 81.12% | 60.95% | 73.22% | 73.38% | 79.40% | 79.52% | 74.70% | 79.43% | 77.74% | 78.45% |
Risk-free interest rate | 0.15% | 0.32% | 0.37% | 0.51% | 0.90% | 0.82% | 1.76% | 1.60% | 0.12% | 0.36% | 0.36% | 0.36% | 1.51% | 0.27% | 0.28% | 0.47% | 0.66% | 2.07% | 2.59% | 0.66% | 1.44% | 1.06% | 0.83% | 0.89% | 1.95% | 0.84% | 1.19% | 1.59% |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Fair_Value_of_Warrants_Additio
Fair Value of Warrants - Additional Information (Detail) (USD $) | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Changes In Fair Value Of Warrants [Line Items] | |||||
Fair value of warrants issue price | $9.96 | $9.60 | $33.80 | ||
Minimum [Member] | |||||
Changes In Fair Value Of Warrants [Line Items] | |||||
Fair value of stock price in computing fair value for warrants issued | $9.60 | $9.60 | $29.85 | $11.90 | $4.80 |
Maximum [Member] | |||||
Changes In Fair Value Of Warrants [Line Items] | |||||
Fair value of stock price in computing fair value for warrants issued | $9.96 | $33.80 | $33.80 | $33.80 | $11.90 |
Fair_Value_of_Warrants_Summary
Fair Value of Warrants - Summary of Derivative Warrant Activity (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
Apr. 10, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Changes In Fair Value Of Warrants [Line Items] | |||||
Beginning balance | $12,549,000 | $11,113,000 | $4,270,000 | $1,436,000 | |
Fair value of warrants issued | 268,000 | ||||
Fair value of warrants issued | 6,544,000 | 2,870,000 | 808,000 | ||
Reclassification to equity in IPO | -7,200,000 | -7,170,000 | |||
Fair value of warrants exercised | -55,000 | ||||
Warrants amended | -6,415,000 | ||||
Warrant restructuring | 2,485,000 | ||||
Change in fair value of warrants | -5,129,000 | -7,538,000 | 10,388,000 | 2,026,000 | |
Ending balance | 518,000 | 12,549,000 | 11,113,000 | 4,270,000 | |
Series A Preferred Stock [Member] | |||||
Changes In Fair Value Of Warrants [Line Items] | |||||
Beginning balance | 220,000 | 63,000 | 27,000 | ||
Fair value of warrants exercised | -55,000 | ||||
Change in fair value of warrants | -165,000 | 157,000 | 36,000 | ||
Ending balance | 220,000 | 63,000 | |||
Series B Preferred Stock [Member] | |||||
Changes In Fair Value Of Warrants [Line Items] | |||||
Beginning balance | 230,000 | 1,160,000 | 314,000 | ||
Fair value of warrants issued | 328,000 | ||||
Change in fair value of warrants | -12,000 | -930,000 | 846,000 | -14,000 | |
Ending balance | 218,000 | 230,000 | 1,160,000 | 314,000 | |
Debt Guarantee [Member] | |||||
Changes In Fair Value Of Warrants [Line Items] | |||||
Beginning balance | 5,679,000 | 6,993,000 | 3,793,000 | 1,409,000 | |
Fair value of warrants issued | 1,583,000 | 831,000 | 415,000 | ||
Reclassification to equity in IPO | -2,514,000 | ||||
Warrants amended | -6,415,000 | ||||
Warrant restructuring | 268,000 | ||||
Change in fair value of warrants | -3,129,000 | -3,165,000 | 8,784,000 | 1,969,000 | |
Ending balance | 36,000 | 5,679,000 | 6,993,000 | 3,793,000 | |
Consulting [Member] | |||||
Changes In Fair Value Of Warrants [Line Items] | |||||
Beginning balance | 147,000 | 447,000 | 100,000 | ||
Fair value of warrants issued | 69,000 | 65,000 | |||
Reclassification to equity in IPO | -108,000 | ||||
Change in fair value of warrants | -38,000 | -300,000 | 278,000 | 35,000 | |
Ending balance | 1,000 | 147,000 | 447,000 | 100,000 | |
Financing [Member] | |||||
Changes In Fair Value Of Warrants [Line Items] | |||||
Beginning balance | 6,493,000 | 2,293,000 | |||
Fair value of warrants issued | 268,000 | ||||
Fair value of warrants issued | 4,961,000 | 1,970,000 | |||
Reclassification to equity in IPO | -4,548,000 | ||||
Warrant restructuring | 2,217,000 | ||||
Change in fair value of warrants | -1,950,000 | -2,978,000 | 323,000 | ||
Ending balance | $263,000 | $6,493,000 | $2,293,000 |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Financial Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | |||
Warrant liability | $518,000 | $12,549,000 | $11,113,000 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | |||
Warrant liability | |||
Significant Other Observable Inputs (Level 2) [Member] | |||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | |||
Warrant liability | |||
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | |||
Warrant liability | $518,000 | $12,549,000 | $11,113,000 |
Fair_Value_Measurements_Summar1
Fair Value Measurements - Summary of Activity for Liabilities Measured at Fair Value Using Level 3 Inputs (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
Apr. 10, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | |||||
Beginning Balance | $12,549,000 | $11,113,000 | $11,113,000 | $4,270,000 | |
Derivative financial instruments reclassified to equity upon amendment | -6,415,000 | ||||
Issuances of derivative financial instruments | 268,000 | 2,296,000 | 6,544,000 | 2,870,000 | |
Derivative financial instruments reclassified to equity in IPO | -7,200,000 | -7,170,000 | |||
Unrealized (gain) loss related to change in fair value | -5,129,000 | -3,036,000 | -7,538,000 | 10,388,000 | |
Ending Balance | 518,000 | 10,373,000 | 12,549,000 | 11,113,000 | |
Warrant Restructuring [Member] | |||||
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | |||||
Warrant restructuring/exercised | 2,485,000 | ||||
Warrants Exercised [Member] | |||||
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | |||||
Warrant restructuring/exercised | ($55,000) |
Joint_Venture_Agreement_Additi
Joint Venture Agreement - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 6 Months Ended | ||
Nov. 14, 2011 | Dec. 31, 2011 | Nov. 14, 2011 | Dec. 31, 2011 | Mar. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | |
Subject to Certain Forfeiture Restrictions [Member] | Vested [Member] | Joint Venture Agreement [Member] | Joint Venture Agreement [Member] | Minimum [Member] | Maximum [Member] | |||
Joint Venture Agreement [Member] | Joint Venture Agreement [Member] | |||||||
Business Acquisition [Line Items] | ||||||||
Entered into agreement date | 30-Nov-11 | |||||||
Percentage of outstanding membership interest in joint venture | 50.00% | 50.00% | ||||||
Capital Contribution in exchange of membership interest | $6,000,000 | $1,000,000 | $6,000,000 | |||||
Fair value of capital contribution in joint venture | 6,000,000 | 6,000,000 | ||||||
Common stock shares granted in joint venture | 20,000 | 13,200 | 6,800 | |||||
Common stock shares granted in joint venture, expense related to vested shares | $150,000 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||||||
Apr. 10, 2013 | Aug. 14, 2012 | Feb. 29, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2011 | Jan. 22, 2007 | Jun. 30, 2013 | Apr. 10, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Oct. 22, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 15, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 27, 2006 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 23, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 23, 2010 | Sep. 23, 2010 | Sep. 23, 2010 | Dec. 31, 2010 | Jan. 10, 2010 | Jul. 01, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Aug. 31, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2011 | Feb. 29, 2012 | Aug. 15, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Apr. 10, 2013 | Feb. 29, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Oct. 15, 2012 | |
Extension | Long-term Debt [Member] | IPO [Member] | Financial Guarantee [Member] | Consulting and advisory agreement [Member] | Consulting and advisory agreement [Member] | Consulting and advisory agreement [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | John Pappajohn [Member] | Dr. Chaganti [Member] | Dr. Chaganti [Member] | Dr. Chaganti [Member] | Dr. Chaganti [Member] | Dr. Chaganti [Member] | Dr. Chaganti [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | TSG Partners, LLC ("TSG") [Member] | TSG Partners, LLC ("TSG") [Member] | TSG Partners, LLC ("TSG") [Member] | TSG Partners, LLC ("TSG") [Member] | TSG Partners, LLC ("TSG") [Member] | TSG Partners, LLC ("TSG") [Member] | TSG Partners, LLC ("TSG") [Member] | Dr. Houldsworth [Member] | Dr. Houldsworth [Member] | Edmund Cannon [Member] | Edmund Cannon [Member] | Edmund Cannon [Member] | Equity Dynamics, Inc. [Member] | Equity Dynamics, Inc. [Member] | Equity Dynamics, Inc. [Member] | Equity Dynamics, Inc. [Member] | Mr. Thompson [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | Dr. Pecora [Member] | NNJCA [Member] | NNJCA [Member] | NNJCA [Member] | NNJCA [Member] | Dr. Pecora and NNJCA [Member] | |||||||||
Financial Guarantee [Member] | Financial Guarantee [Member] | Maximum [Member] | Payable in Cash [Member] | Payable in Warrants [Member] | Paid in Cash [Member] | Paid in Cash [Member] | Expensed under Stock Option Plan [Member] | Expensed under Stock Option Plan [Member] | Expensed under Stock Option Plan [Member] | Financial Guarantee [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of revolving line of credit extensions facility | 8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock purchased | 284,000 | 202,630 | 196,159 | 1,051,506 | 1,051,506 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock exercised | 24,000 | 54,910 | 3,546 | 395,825 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants adjusted in conjunction with IPO | 436,079 | 585,645 | 44,288 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants outstanding per share | $15 | $15 | $4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional amount of loan received | $6,750,000 | $6,750,000 | $500,000 | $1,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt outstanding under credit agreement | 1,500,000 | 1,500,000 | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of outstanding indebtedness to common stock | 9,634,300 | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares | 963,430 | 12,596,066 | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price of notes | $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument spread on variable rate | 6.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate at period end | 9.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable, Long-Term | 2,440,683 | 1,912,365 | 1,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity date | 15-Aug-13 | 15-Aug-13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued fee on debt instrument | 419,000 | 130,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument amount paid upon conversion of the notes | 50,527 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes issued to related party | 100,000 | 100,000 | 40,000 | 55,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate due to related party | 8.50% | 8.50% | 8.50% | 5.50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expenses on notes issued to related party | 2,357 | 4,200 | 8,400 | 8,400 | 8,416 | 0 | 0 | 1,407 | 970 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options issued to purchase shares of common stock | 36,000 | 12,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock price | $10 | $10 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, vesting period | 2 years | 2 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting and advisory agreement expenses under stock option plan | 54,650 | 254,500 | 0 | 112,320 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consulting agreement period | 3 years | 3 years | 1 year | 2 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement with related party, fee | 5,000 | 10,000 | 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement with related party, consulting fee | 30,000 | 30,000 | 5,000 | 4,000 | 4,000 | 60,000 | 60,000 | 120,000 | 45,000 | 20,000 | 142,740 | 235,560 | 27,200 | ||||||||||||||||||||||||||||||||||||||||||||||||
Due to related party | 86,917 | 132,679 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt and warrant restructuring charge | -1,862,012 | -2,319,512 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of related party debt | 120,000 | 55,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest accrued on notes issued to related party | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation for strategic consulting services | 0 | 0 | 97,575 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement with related party, fee | 5,000 | 60,000 | 45,000 | 15,000 | 2,000 | 5,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash payments to related parties | 22,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option issued to related party | 80,000 | 60,000 | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option issued to related party, price per share | $10.17 | $33.80 | $26.73 | $14.35 | $25 | $25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement with related party, description of required payment | In exchange for this assignment, if the USPTO issues a patent for an invention on which Dr. Chaganti is listed as an inventor, we are required to pay Dr. Chaganti (i) a one-time payment of $50,000 and (ii) 1% of any net revenues we receive from any licensed sales of the invention. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement with related party, one-time payment required | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement with related party, percentage of net revenues required to be paid | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | 4,706 | 28,235 | 4,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants at the date of issue | 144,000 | 6,415,000 | 12,854 | 298,000 | 69,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants agreed to be surrendered | 193,176 | 37,646 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase the pre-payment penalties | $130,000 |
Other_Current_Assets_Detail
Other Current Assets (Detail) (USD $) | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |||
Inventory probes and arrays | $233,767 | $203,507 | |
Prepaid expenses | 255,511 | 65,762 | |
Other current assets | $708,914 | $489,278 | $269,269 |
Lease_Commitments_Additional_I
Lease Commitments - Additional Information (Detail) (USD $) | 12 Months Ended | ||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 30, 2013 | Apr. 06, 2012 | |
Leases Disclosure [Line Items] | |||||
Lease agreement expiration date | 6-Oct-17 | ||||
Lease term | 10 years | ||||
Security deposit for lease | $450,000 | $450,000 | $300,000 | $250,000 | |
Equipment under these capital leases, cost | 49,601 | ||||
Equipment under these capital leases, accumulated depreciation | 16,534 | ||||
Rent Expense | 516,173 | 517,667 | 546,169 | ||
Minimum [Member] | |||||
Leases Disclosure [Line Items] | |||||
Periodic rent increases per square foot per year | 1 | ||||
Maximum [Member] | |||||
Leases Disclosure [Line Items] | |||||
Periodic rent increases per square foot per year | $2 |
Minimum_Future_Lease_Payments_
Minimum Future Lease Payments Under Capital and Operating Leases (Detail) (USD $) | Dec. 31, 2012 |
Schedule Of Operating And Capital Leased Assets [Line Items] | |
2013 | $578,743 |
2014 | 600,965 |
2015 | 604,581 |
2016 | 567,000 |
2017 | 567,001 |
Thereafter | 49,100 |
Total minimum lease payments | 2,967,390 |
Capital Lease Expense [Member] | |
Schedule Of Operating And Capital Leased Assets [Line Items] | |
2013 | 18,275 |
2014 | 7,614 |
Total minimum lease payments | 25,889 |
Less amount representing interest | 1,241 |
Present value of net minimum obligations | 24,648 |
Less current obligation under capital lease | 17,158 |
Long-term obligation under capital lease | 7,490 |
Operating Lease Expense [Member] | |
Schedule Of Operating And Capital Leased Assets [Line Items] | |
2013 | 560,468 |
2014 | 593,351 |
2015 | 604,581 |
2016 | 567,000 |
2017 | 567,001 |
Thereafter | 49,100 |
Total minimum lease payments | $2,941,501 |
Loss_On_Debt_and_Warrant_Restr
Loss On Debt and Warrant Restructuring (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2012 | |
Debt Instrument [Line Items] | |
Loss on debt and warrant restructuring | $1,862,012 |
2012 convertible debt financing transaction [Member] | Restated [Member] | |
Debt Instrument [Line Items] | |
Loss on debt and warrant restructuring | 1,506,512 |
Line of Credit [Member] | Amended [Member] | |
Debt Instrument [Line Items] | |
Loss on debt and warrant restructuring | 268,000 |
Line of Credit [Member] | Settle warrants [Member] | |
Debt Instrument [Line Items] | |
Loss on debt and warrant restructuring | -129,500 |
2011 convertible debt financing transaction [Member] | Amended [Member] | |
Debt Instrument [Line Items] | |
Loss on debt and warrant restructuring | 545,000 |
2011 convertible debt financing transaction [Member] | Settle warrants [Member] | |
Debt Instrument [Line Items] | |
Loss on debt and warrant restructuring | ($328,000) |
Fixed_Assets_Summary_by_Major_
Fixed Assets Summary by Major Classifications (Detail) (USD $) | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant And Equipment Useful Life And Values [Abstract] | |||
Equipment | $1,914,215 | $1,752,398 | |
Furniture | 461,119 | 461,119 | |
Leasehold improvements | 583,592 | 583,592 | |
Gross | 2,958,926 | 2,797,109 | |
Less accumulated depreciation | -1,994,003 | -1,656,473 | |
Net fixed assets | $856,433 | $964,923 | $1,140,636 |
Income_Tax_Reconciliation_Deta
Income Tax Reconciliation (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Income Tax Disclosure [Abstract] | |||
Income tax benefit at federal statutory rate | ($2,333,000) | ($6,960,000) | ($2,943,000) |
State tax provision, net of federal tax benefit | -661,000 | -604,000 | -437,000 |
Tax credits | -82,000 | -57,000 | -26,000 |
Stock option permanent differences | 85,000 | 43,000 | 33,000 |
Derivative warrant permanent differences | -1,926,000 | 3,636,000 | 16,000 |
Change in valuation allowance | 4,858,000 | 5,320,000 | 2,543,000 |
Change in uncertain tax positions | -1,395,000 | 1,003,000 | |
Other | 59,000 | 17,000 | -189,000 |
Provision for income taxes | |||
Income tax benefit at federal statutory rate | 35.00% | 35.00% | 35.00% |
State tax provision, net of federal tax benefit | 9.50% | 3.00% | 5.20% |
Tax credits | 1.10% | 0.30% | 0.30% |
Stock option permanent differences | -1.20% | -0.20% | -0.40% |
Derivative warrant permanent differences | 26.00% | -18.20% | -0.20% |
Change in valuation allowance | -70.20% | -26.80% | -30.30% |
Change in uncertain tax positions | 0.00% | 7.00% | -11.90% |
Other | -0.20% | -0.10% | 2.30% |
Provision for income taxes | 0.00% | 0.00% | 0.00% |
Components_of_Approximate_Defe
Components of Approximate Deferred Tax (Detail) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
Deferred tax assets: | ||
Net operating loss carryforwards | $15,134,000 | $10,575,000 |
Accruals and reserves | 486,000 | 568,000 |
Non-qualified stock options | 844,000 | 575,000 |
Research and development tax credits | 477,000 | 395,000 |
Derivative warrant liability | 26,000 | 26,000 |
Other | 7,000 | 9,000 |
Total deferred tax assets | 16,974,000 | 12,148,000 |
Less valuation allowance | -16,947,000 | -12,089,000 |
Net deferred tax assets | 27,000 | 59,000 |
Deferred tax liabilities | ||
Fixed assets | -27,000 | -59,000 |
Net deferred taxes |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 01, 2013 | |
New Jersey [Member] | ||||
Income Tax [Line Items] | ||||
Net operating loss carryforward | $38,000,000 | $8,018,107 | ||
Net operating loss carryforward, expiration date | Begin to expire in 2027 | |||
Proceeds from sale of operating loss carryforward | 663,900 | |||
Uncertain tax positions | $0 | $0 | $1,395,000 |
Aggregate_Changes_in_Balance_o
Aggregate Changes in Balance of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ||
Balance, beginning of year | $0 | $1,395,000 |
Changes in expected tax position | -1,395,000 | |
Balance, end of year | $0 | $0 |
Contingencies_Additional_Infor
Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Commitments And Contingencies Disclosure [Abstract] | |||
Payment for litigation settlement | $1,000,000 | ||
Amount accrued for litigation settlement | 1,000,000 | ||
Amount received from insurance carrier | 400,000 | ||
Net recovery (expense) from litigation | $200,000 | ($800,000) |
Liquidity_and_Going_concern_Ad
Liquidity and Going concern - Additional Information (Detail) (USD $) | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
Liquidity And Managements Plans [Line Items] | ||||||
Cash and cash equivalents | $1,940,808 | $819,906 | $401,545 | $2,417,256 | $1,779,251 | $29,891 |
Liquidity and Going concern [Member] | ||||||
Liquidity And Managements Plans [Line Items] | ||||||
Cash and cash equivalents | 819,000 | |||||
Working capital deficit | $9,600,000 |