Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2014 | |
Document And Entity Information [Abstract] | ' |
Document Type | 'S-1/A |
Amendment Flag | 'true |
Amendment description | 'Amendment No. 1 |
Document Period End Date | 30-Sep-14 |
Trading Symbol | 'ISCO |
Entity Registrant Name | 'International Stem Cell CORP |
Entity Central Index Key | '0001355790 |
Entity Filer Category | 'Smaller Reporting Company |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Assets | ' | ' | ' |
Cash and cash equivalents | $471 | $2,243 | $654 |
Accounts receivable, net | 464 | 306 | 273 |
Inventory, net | 1,533 | 1,369 | 1,199 |
Prepaid expenses and other current assets | 359 | 658 | 456 |
Restricted cash | 50 | 50 | ' |
Total current assets | 2,877 | 4,626 | 2,582 |
Property and equipment, net | 781 | 830 | 1,134 |
Intangible assets, net | 2,649 | 2,250 | 1,634 |
Deposits and other assets | 57 | 33 | 20 |
Total assets | 6,364 | 7,739 | 5,370 |
Liabilities, Redeemable Preferred Stock and Stockholders' Deficit | ' | ' | ' |
Accounts payable | 715 | 532 | 969 |
Accrued liabilities | 1,299 | 1,290 | 730 |
Deferred revenue | 0 | 3 | 233 |
Related party payable | 5 | 21 | 5 |
Advances | 250 | 250 | 250 |
Fair value of warrant liability | ' | 4,925 | ' |
Total current liabilities | 2,269 | 7,021 | 2,187 |
Commitments and contingencies | ' | ' | ' |
Stockholders' Deficit | ' | ' | ' |
Common stock | 224 | 151 | 87 |
Additional paid-in capital | 89,080 | 77,897 | 69,945 |
Accumulated deficit | -90,150 | -82,271 | -71,792 |
Total stockholders' deficit | -846 | -4,223 | -1,758 |
Total liabilities, redeemable preferred stock and stockholders' deficit | 6,364 | 7,739 | 5,370 |
Series G Preferred Stock [Member] | ' | ' | ' |
Liabilities, Redeemable Preferred Stock and Stockholders' Deficit | ' | ' | ' |
Convertible Redeemable Preferred stock | 4,941 | 4,941 | 4,941 |
Series D Preferred Stock [Member] | ' | ' | ' |
Stockholders' Deficit | ' | ' | ' |
Preferred stock | ' | ' | ' |
Series B Preferred Stock [Member] | ' | ' | ' |
Stockholders' Deficit | ' | ' | ' |
Preferred stock | ' | ' | ' |
Series C Preferred Stock [Member] | ' | ' | ' |
Stockholders' Deficit | ' | ' | ' |
Preferred stock | ' | ' | $2 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | |||
Convertible Redeemable Preferred stock, par value | ' | ' | ' | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts receivable | $19 | $19 | $4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Redeemable Preferred stock, shares authorized | ' | ' | ' | 5,000,000 | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Redeemable Preferred stock, shares issued | ' | ' | ' | 5,000,000 | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Redeemable Preferred stock, shares outstanding | ' | ' | ' | 5,000,000 | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Redeemable Preferred stock, liquidation preference | ' | ' | ' | 5,000 | 5,000 | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | $0.00 | $0.00 | ' | ' | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | ' | ' | ' | ' | 50 | 50 | 50 | 5,000,000 | 5,000,000 | 5,000,000 | 0 | 3,000,000 |
Preferred stock, shares issued | ' | ' | ' | ' | 5,000,000 | 5,000,000 | 43 | 43 | 43 | 300,000 | 300,000 | 300,000 | 0 | 2,000,000 |
Preferred stock, shares outstanding | ' | ' | ' | ' | 5,000,000 | 5,000,000 | 43 | 43 | 43 | 300,000 | 300,000 | 300,000 | 0 | 2,000,000 |
Liquidation preference | ' | ' | ' | ' | ' | ' | $4,320 | $4,320 | $4,320 | $417 | $403 | $385 | $0 | $2,507 |
Common stock, par value | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | 600,000,000 | 300,000,000 | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued | 224,274,073 | 151,175,053 | 87,388,815 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares outstanding | 224,274,073 | 151,175,053 | 87,388,815 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues | ' | ' | ' | ' | ' | ' |
Product sales | $1,963 | $1,670 | $5,200 | $4,412 | $6,147 | $4,567 |
Total revenue | 1,963 | 1,670 | 5,200 | 4,412 | 6,147 | 4,567 |
Expenses | ' | ' | ' | ' | ' | ' |
Cost of sales | 518 | 447 | 1,366 | 1,110 | 1,643 | 1,272 |
Research and development | 1,392 | 932 | 3,761 | 2,627 | 3,560 | 3,599 |
Selling and marketing | 745 | 632 | 2,093 | 1,823 | 2,457 | 2,065 |
General and administrative | 1,342 | 1,362 | 4,322 | 4,461 | 6,033 | 7,446 |
Total expenses | 3,997 | 3,373 | 11,542 | 10,021 | 13,693 | 14,382 |
Loss from operating activities | -2,034 | -1,703 | -6,342 | -5,609 | -7,546 | -9,815 |
Other income (expense) | ' | ' | ' | ' | ' | ' |
Fair value of warrant liability in excess of proceeds | ' | -1,390 | ' | -1,390 | -1,390 | ' |
Financing transaction costs | ' | -738 | ' | -738 | -738 | ' |
Change in fair value of warrant liability | 0 | 27 | 1,894 | 27 | -754 | 38 |
Warrant exchange inducement expense | ' | ' | -3,445 | ' | ' | ' |
Miscellaneous expense | -8 | ' | -8 | -20 | -74 | -61 |
Interest expense | ' | ' | -2 | ' | -3 | -2 |
Sublease income | 8 | 5 | 24 | 18 | 26 | 7 |
Total other income (expense), net | ' | -2,096 | -1,537 | -2,103 | -2,933 | -18 |
Loss before income taxes | -2,034 | -3,799 | -7,879 | -7,712 | -10,479 | -9,833 |
Provision for income taxes | 0 | 0 | 0 | 0 | 0 | 0 |
Net loss | -2,034 | -3,799 | -7,879 | -7,712 | -10,479 | -9,833 |
Deemed dividend on preferred stock | ' | ' | ' | ' | ' | -1,375 |
Dividends on preferred stock | ' | ' | ' | ' | ' | -129 |
Net loss applicable to common stockholders | ($2,034) | ($3,799) | ($7,879) | ($7,712) | ($10,479) | ($11,337) |
Net loss per common share-basic and diluted | ($0.01) | ($0.03) | ($0.04) | ($0.07) | ($0.09) | ($0.13) |
Weighted average shares-basic and diluted | 218,278 | 128,243 | 181,037 | 114,830 | 123,088 | 85,936 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Deficit (USD $) | Total | Series G Preferred Stock [Member] | Series A Preferred Stock [Member] | Series C Preferred Stock [Member] | Convertible Redeemable Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] |
In Thousands, except Share data, unless otherwise specified | USD ($) | USD ($) | Series G Preferred Stock [Member] | USD ($) | Series C Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Series C Preferred Stock [Member] | USD ($) | USD ($) | ||
USD ($) | USD ($) | USD ($) | ||||||||||
Beginning balance at Dec. 31, 2011 | $3,623 | ' | ' | ' | ' | $80 | ' | $1 | ' | $2 | $63,995 | ($60,455) |
Beginning balance, shares at Dec. 31, 2011 | ' | ' | ' | ' | ' | 80,036,000 | ' | 500,000 | 300,000 | 2,000,000 | ' | ' |
Issuance of stock | ' | ' | ' | ' | 4,941 | ' | ' | ' | ' | ' | ' | ' |
From conversion of preferred stock | ' | ' | ' | ' | ' | 2 | ' | -1 | ' | ' | -1 | ' |
Issuance of stock, shares | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' |
From conversion of preferred stock, shares | ' | ' | ' | ' | ' | 2,000,000 | ' | -500,000 | ' | ' | ' | ' |
Beneficial conversion feature for Series G preferred stock | 1,375 | ' | ' | ' | -1,375 | ' | ' | ' | ' | ' | 1,375 | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
For cash, net of issuance costs | 2,084 | ' | ' | ' | ' | 5 | ' | ' | ' | ' | 2,079 | ' |
For cash, net of issuance costs, shares | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' |
For services | 59 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59 | ' |
For services, shares | ' | ' | ' | ' | ' | 335,000 | ' | ' | ' | ' | ' | ' |
From exercise of options | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' |
From exercise of options, shares | ' | ' | ' | ' | ' | 18,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 2,361 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,361 | ' |
Warrants issued for services | 73 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73 | ' |
Accrued dividend on preferred stock | -222 | 0 | ' | ' | 93 | ' | ' | ' | ' | ' | ' | -222 |
Reversal of dividend accreted | 93 | 93 | ' | ' | -93 | ' | ' | ' | ' | ' | ' | 93 |
Deemed dividend on preferred stock | -1,375 | ' | ' | ' | 1,375 | ' | ' | ' | ' | ' | ' | -1,375 |
Net loss | -9,833 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,833 |
Ending balance at Dec. 31, 2012 | -1,758 | ' | ' | ' | 4,941 | 87 | ' | ' | ' | 2 | 69,945 | -71,792 |
Ending balance, shares at Dec. 31, 2012 | ' | ' | ' | ' | 5,000,000 | 87,389,000 | ' | ' | 300,000 | 2,000,000 | ' | ' |
From conversion of preferred stock | ' | ' | ' | ' | ' | 8 | ' | ' | ' | -2 | -6 | ' |
From conversion of preferred stock, shares | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | -2,000,000 | ' | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
For cash, net of issuance costs | 3,381 | ' | ' | ' | ' | 38 | ' | ' | ' | ' | 3,343 | ' |
For cash, net of issuance costs, shares | ' | ' | ' | ' | ' | 37,991,000 | ' | ' | ' | ' | ' | ' |
For services | 240 | ' | ' | ' | ' | 1 | ' | ' | ' | ' | 239 | ' |
For services, shares | ' | ' | ' | ' | ' | 840,000 | ' | ' | ' | ' | ' | ' |
From exercises of warrants, net of commissions | 2,700 | ' | ' | ' | ' | 17 | ' | ' | ' | ' | 2,683 | ' |
From exercises of warrants, net of commissions of , shares | ' | ' | ' | ' | ' | 16,955,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 1,693 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,693 | ' |
Accrued dividend on preferred stock | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -10,479 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10,479 |
Ending balance at Dec. 31, 2013 | -4,223 | ' | ' | ' | 4,941 | 151 | ' | ' | ' | ' | 77,897 | -82,271 |
Ending balance, shares at Dec. 31, 2013 | ' | ' | ' | ' | 5,000,000 | 151,175,000 | ' | ' | 300,000 | ' | ' | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
For cash, net of issuance costs | 3,597 | ' | ' | ' | ' | 27 | ' | ' | ' | ' | 3,570 | ' |
For cash, net of issuance costs, shares | ' | ' | ' | ' | ' | 27,568,000 | ' | ' | ' | ' | ' | ' |
For services | 139 | ' | ' | ' | ' | 1 | ' | ' | ' | ' | 138 | ' |
For services, shares | ' | ' | ' | ' | ' | 865,000 | ' | ' | ' | ' | ' | ' |
For warrant exchange, net of issuance costs | 6,428 | ' | ' | ' | ' | 45 | ' | ' | ' | ' | 6,383 | ' |
For warrant exchange, net of issuance costs, shares | ' | ' | ' | ' | ' | 44,666,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 1,092 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,092 | ' |
Net loss | -7,879 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,879 |
Ending balance at Sep. 30, 2014 | ($846) | ' | ' | ' | $4,941 | $224 | ' | ' | ' | ' | $89,080 | ($90,150) |
Ending balance, shares at Sep. 30, 2014 | ' | ' | ' | ' | 5,000,000 | 224,274,000 | ' | ' | 300,000 | ' | ' | ' |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Deficit (Parenthetical) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Series G Preferred Stock [Member] | |||
Convertible Redeemable Preferred Stock [Member] | |||
Issuance cost on issue of convertible redeemable Series G preferred stock | ' | ' | $59 |
For cash, issuance costs | 169 | 178 | ' |
Warrant exchange, issuance costs | 49 | ' | ' |
From exercise of warrants, commissions | ' | $98 | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Cash flows from operating activities | ' | ' | ' | ' |
Net loss | ($7,879,000) | ($7,712,000) | ($10,479,000) | ($9,833,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' | ' |
Depreciation and amortization | 349,000 | 347,000 | 464,000 | 474,000 |
Warrants issued for services | ' | ' | 0 | 73,000 |
Stock-based compensation expense | 1,212,000 | 1,291,000 | 1,693,000 | 2,361,000 |
Common stock issued for services | 139,000 | 180,000 | 240,000 | 59,000 |
Fair value of warrant liability in excess of proceeds | ' | 1,390,000 | 1,390,000 | ' |
Financing transaction costs | ' | 738,000 | 738,000 | ' |
Change in fair value of warrant liability | -1,894,000 | -27,000 | 754,000 | -38,000 |
Warrant exchange inducement expense | 3,445,000 | ' | ' | ' |
Allowance for doubtful accounts | ' | 22,000 | 23,000 | ' |
Allowance for inventory obsolescence | 30,000 | 40,000 | 90,000 | -40,000 |
Allowance for sales returns | ' | ' | 10,000 | ' |
Loss on disposal of fixed assets | 8,000 | 16,000 | 68,000 | 56,000 |
Impairment of intangible assets | 39,000 | 32,000 | 52,000 | 190,000 |
Changes in operating assets and liabilities | ' | ' | ' | ' |
(Increase) decrease in accounts receivable | -158,000 | -148,000 | -55,000 | -133,000 |
(Increase) decrease in inventory | -194,000 | -201,000 | -260,000 | 109,000 |
(Increase) decrease in prepaid assets and other assets | 299,000 | 49,000 | -202,000 | -182,000 |
(Increase) decrease in restricted cash | ' | -50,000 | -50,000 | ' |
(Increase) decrease in deposits | -24,000 | -13,000 | -13,000 | -4,000 |
Increase (decrease) in accounts payable | 184,000 | -447,000 | -437,000 | 192,000 |
Increase (decrease) in accrued expenses | 9,000 | 326,000 | 550,000 | -22,000 |
Increase (decrease) in deferred revenue | -3,000 | -77,000 | -230,000 | 44,000 |
Increase (decrease) in related party payable | -16,000 | 11,000 | 16,000 | 5,000 |
Net cash used in operating activities | -4,454,000 | -4,233,000 | -5,638,000 | -6,689,000 |
Investing activities | ' | ' | ' | ' |
Purchases of property and equipment | -262,000 | -34,000 | -167,000 | -197,000 |
Proceeds from sale of property and equipment | 1,000 | ' | ' | 7,000 |
Payments for patent licenses and trademarks | -485,000 | -480,000 | -729,000 | -596,000 |
Net cash used in investing activities | -746,000 | -514,000 | -896,000 | -786,000 |
Financing activities | ' | ' | ' | ' |
Proceeds from issuance of common stock | 3,646,000 | 6,289,000 | 6,538,000 | 2,084,000 |
Proceeds from issuance of preferred stock | ' | ' | ' | 4,941,000 |
Proceeds from exercise of warrants and options | ' | 242,000 | 2,386,000 | 4,000 |
Payment of preferred stock dividends | ' | ' | ' | -237,000 |
Payment of offering costs | -218,000 | -646,000 | -801,000 | ' |
Net cash provided by financing activities | 3,428,000 | 5,885,000 | 8,123,000 | 6,792,000 |
Net increase (decrease) in cash and cash equivalents | -1,772,000 | 1,138,000 | 1,589,000 | -683,000 |
Cash and cash equivalents, beginning of period | 2,243,000 | 654,000 | 654,000 | 1,337,000 |
Cash and cash equivalents, end of period | 471,000 | 1,792,000 | 2,243,000 | 654,000 |
Supplemental disclosure of cash flow information | ' | ' | ' | ' |
Cash paid for interest | 2,000 | 2,000 | 3,000 | 2,000 |
Warrant liability reclassified to equity upon warrant exchange | 3,031,000 | ' | ' | ' |
Warrants issued for placement agent services | ' | 115,000 | 115,000 | ' |
Non-cash financing activities: | ' | ' | ' | ' |
Accretion of preferred stock dividends | ' | ' | ' | 93,000 |
Deemed dividend on preferred stock | ' | ' | ' | 1,375,000 |
Reversal of preferred dividends accreted | ' | ' | ' | -93,000 |
Warrants issued for placement agent services | ' | $115,000 | $115,000 | ' |
Organization_and_Significant_A
Organization and Significant Accounting Policies | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
Organization and Significant Accounting Policies | ' | ' | ||||||||||||||||||||||||||||||||
1. Organization and Significant Accounting Policies | 1. Organization and Significant Accounting Policies | |||||||||||||||||||||||||||||||||
Business Combination and Corporate Restructure | Business Combination and Corporate Restructure | |||||||||||||||||||||||||||||||||
BTHC III, Inc. (“BTHC III” or the “Company”) was organized in Delaware in June 2005 as a shell company to effect the reincorporation of BTHC III, LLC, a Texas limited liability company. On December 28, 2006, the Company effected a Share Exchange pursuant to which it acquired all of the stock of International Stem Cell Corporation, a California corporation (“ISC California”). After giving effect to the Share Exchange, the stockholders of ISC California owned 93.7% of issued and outstanding shares of common stock. As a result of the Share Exchange, ISC California is now the wholly-owned subsidiary, though for accounting purposes it was deemed to have been the acquirer in a “reverse merger.” In the reverse merger, BTHC III is considered the legal acquirer and ISC California is considered the accounting acquirer. On January 29, 2007, the Company changed its name from BTHC III, Inc. to International Stem Cell Corporation. | BTHC III, Inc. (“BTHC III” or the “Company”) was organized in Delaware in June 2005 as a shell company to effect the reincorporation of BTHC III, LLC, a Texas limited liability company. On December 28, 2006, the Company effected a Share Exchange pursuant to which it acquired all of the stock of International Stem Cell Corporation, a California corporation (“ISC California”). After giving effect to the Share Exchange, the stockholders of ISC California owned 93.7% of issued and outstanding shares of common stock. As a result of the Share Exchange, ISC California is now the wholly-owned subsidiary, though for accounting purposes it was deemed to have been the acquirer in a “reverse merger.” In the reverse merger, BTHC III is considered the legal acquirer and ISC California is considered the accounting acquirer. On January 29, 2007, the Company changed its name from BTHC III, Inc. to International Stem Cell Corporation. | |||||||||||||||||||||||||||||||||
Lifeline Cell Technology, LLC (“LCT”) was formed in the State of California on August 17, 2001. LCT is in the business of developing and manufacturing purified primary human cells and optimized reagents for cell culture. LCT’s scientists have used a technology, called basal medium optimization, to systematically produce products designed to culture specific human cell types and to elicit specific cellular behaviors. These techniques also produce products that do not contain non-human animal proteins, a feature desirable to the research and therapeutic markets. LCT distinguishes itself in the industry by having in place scientific and manufacturing staff with the experience and knowledge to set up systems and facilities to produce a source of consistent, standardized, non-human animal protein free cell products, some of which are suitable for FDA approval. | Lifeline Cell Technology, LLC (“LCT”) was formed in the State of California on August 17, 2001. LCT is in the business of developing and manufacturing purified primary human cells and optimized reagents for cell culture. LCT’s scientists have used a technology, called basal medium optimization, to systematically produce products designed to culture specific human cell types and to elicit specific cellular behaviors. These techniques also produce products that do not contain non-human animal proteins, a feature desirable to the research and therapeutic markets. LCT distinguishes itself in the industry by having in place scientific and manufacturing staff with the experience and knowledge to set up systems and facilities to produce a source of consistent, standardized, non-human animal protein free cell products, some of which are suitable for FDA approval. | |||||||||||||||||||||||||||||||||
On July 1, 2006, LCT entered into an agreement among LCT, ISC California and the holders of membership units and warrants. Pursuant to the terms of the agreement, all the membership units in LCT were exchanged for 20,000,000 shares of ISC California Common Stock and for ISC California’s assumption of LCT’s obligations under the warrants. LCT became a wholly-owned subsidiary of ISC California. | On July 1, 2006, LCT entered into an agreement among LCT, ISC California and the holders of membership units and warrants. Pursuant to the terms of the agreement, all the membership units in LCT were exchanged for 20,000,000 shares of ISC California Common Stock and for ISC California’s assumption of LCT’s obligations under the warrants. LCT became a wholly-owned subsidiary of ISC California. | |||||||||||||||||||||||||||||||||
Lifeline Skin Care, Inc. (“LSC”) was formed in the State of California on June 5, 2009 and is a wholly-owned subsidiary of ISC California. LSC develops, manufactures and markets cosmeceutical products, utilizing an extract derived from the Company’s human parthenogenetic stem cell technologies. | Lifeline Skin Care, Inc. (“LSC”) was formed in the State of California on June 5, 2009 and is a wholly-owned subsidiary of ISC California. LSC develops, manufactures and markets cosmeceutical products, utilizing an extract derived from the Company’s human parthenogenetic stem cell technologies. | |||||||||||||||||||||||||||||||||
Going Concern | Going Concern | |||||||||||||||||||||||||||||||||
The Company needs to raise additional working capital. The timing and degree of any future capital requirements will depend on many factors. Currently, the Company’s burn rate is approximately $495,000 per month, excluding capital expenditures and patent costs averaging $83,000 per month. There can be no assurance that the Company will be successful in maintaining its normal operating cash flow, and that such cash flows will be sufficient to sustain the Company’s operations through 2014. Based on the above, there is substantial doubt about the Company’s ability to continue as a going concern. The condensed consolidated financial statements were prepared assuming that the Company is a going concern. The condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. | The Company needs to raise additional working capital. The timing and degree of any future capital requirements will depend on many factors. Currently, the Company’s burn rate is approximately $470,000 per month, excluding capital expenditures and patent costs averaging $75,000 per month. There can be no assurance that the Company will be successful in maintaining its normal operating cash flow, and that such cash flows will be sufficient to sustain the Company’s operations through 2014. Based on the above, there is substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements were prepared assuming that the Company is a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. | |||||||||||||||||||||||||||||||||
Management’s plans in regard to these matters are focused on managing its cash flow, the proper timing of its capital expenditures, and raising additional capital or financing in the future. In December 2013, the Company filed a registration statement with the Securities Exchange Commission (the “SEC”), which allows the Company to sell up to $10,250,000 of common stock to Lincoln Park Capital Fund, LLC (“Lincoln Park”) from time to time through January 2017 at the Company’s discretion pursuant to the terms of a Common Stock Purchase Agreement entered into with Lincoln Park on December 10, 2013 (the “Purchase Agreement”). The registration statement was declared effective on January 13, 2014. However, the Company cannot predict the timing or amount of any funds that it may actually receive. During the nine months ended September 30, 2014, to obtain funding for working capital purposes, the Company sold a total of 8,200,000 shares of common stock under the Purchase Agreement with Lincoln Park, raising approximately $1,588,000. For further discussion, see Note 6, Capital Stock. In connection with agreements entered into as part of a private placement effected October 14, 2014, the Company may not sell shares to Lincoln Park until March 2016. Additionally, pursuant to the terms of the October 2014 private placement, the Company may not issue securities, subject to certain exceptions, until the 90th day following the effective date of a registration statement on Form S-1 filed with the SEC on November 3, 2014 in connection with registering for resale certain shares of common stock underlying securities issued in the private placement, provided, however, that the Company may still issue securities in certain circumstances, including issuing shares in private placements to its officers and directors at market prices. For further discussion, see Note 12, Subsequent Events. | Management’s plans in regard to these matters are focused on managing its cash flow, the proper timing of its capital expenditures, and raising additional capital or financing in the future. In the first quarter of 2013, to obtain funding for working capital purposes, the Company sold a total of 16,325,000 shares of common stock raising net proceeds of approximately $3,266,000. In July 2013, the Company closed a financing transaction contemplated by an S-1 Registration Statement (the “S-1 July Registered Offering”) on file with the U.S. Securities and Exchange Commission (the “SEC”). The Company issued 20,000,000 Units in this transaction, raising net proceeds of approximately $2,377,000. Each Unit issued consists of a share of common stock and a Series A Warrant. Each purchaser also received a Series B Warrant for each Unit purchased. During the third quarter of 2013, the Company received net proceeds of $242,000 upon the exercise of 1,700,000 Series B Warrants for 1,700,000 additional Units. During the fourth quarter of 2013, the Company received additional net proceeds of $2,144,000 upon the exercise of 15,054,822 Series B Warrants for 15,054,822 additional Units, but prior to the expiration of the Series B Warrants on October 24, 2013, and upon exercise of 200,000 Series A Warrants for common stock. For further discussion regarding these transactions, see Note 6, Capital Stock. | |||||||||||||||||||||||||||||||||
During the third quarter of 2014, the Company sold an additional 10,444,445 shares of common stock to the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors, Dr. Andrey Semechkin, and Dr. Ruslan Semechkin, Chief Scientific Officer and a director, for an aggregate of $1,000,000, as discussed in Note 6, Capital Stock. | In December 2013, the Company filed a registration statement with the SEC that, following effectiveness, would allow us to sell up to $10,250,000 of common stock to Lincoln Park Capital Fund, LLC (“Lincoln Park”) from time to time through January 2017 at the Company’s discretion. The registration statement was declared effective on January 13, 2014. However, the Company cannot predict the timing or amount of any funds that it may actually receive. From January 15, 2014 through March 10, 2014, to obtain funding for working capital purposes, the Company sold a total of 3,800,000 shares of common stock raising approximately $817,000. For further discussion, see Note 12, Subsequent Events. | |||||||||||||||||||||||||||||||||
Basis of Presentation | Basis of Presentation | |||||||||||||||||||||||||||||||||
The Company is a biotechnology company focused on therapeutic and clinical product development with multiple long-term therapeutic opportunities and two revenue-generating subsidiaries with potential for increased future revenues. The Company was in the development stage from inception through the quarter ended September 30, 2013. During the quarter ended December 31, 2013, the Company exited the development stage based on a consistent, increasing revenue trend and more significant revenue generated from its two commercial businesses. The Company generated product revenues from the two commercial businesses of $6,147,000 for the year ended December 31, 2013. The Company currently has no revenue generated from its principal operations in therapeutic and clinical product development. | The Company is a biotechnology company focused on therapeutic and clinical product development with multiple long-term therapeutic opportunities and two revenue-generating subsidiaries with potential for increased future revenues. The Company has been in the development stage from inception through to the quarter ended September 30, 2013. During the quarter ended December 31, 2013, the Company exited the development stage based on a consistently, increasing revenue trend and more significant revenue totals generated from its two commercial businesses. The Company has generated product revenues from the two commercial businesses of $6,147,000 and $4,567,000 for the years ended December 31, 2013 and 2012, respectively. The Company currently has no revenue generated from its principal operations in therapeutic and clinical product development through research and development efforts. | |||||||||||||||||||||||||||||||||
The accompanying unaudited condensed consolidated financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q. | Principles of Consolidation | |||||||||||||||||||||||||||||||||
These financial statements do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to consolidated financial statements included in the annual report on Form 10-K of International Stem Cell Corporation and Subsidiaries for the year ended December 31, 2013. | The Company’s consolidated financial statements include the accounts of International Stem Cell Corporation and its subsidiaries after intercompany balances and transactions have been eliminated. | |||||||||||||||||||||||||||||||||
In the opinion of management, the unaudited condensed consolidated financial information for the interim periods presented reflects all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the Company’s consolidated results of operations, financial position and cash flows. The unaudited condensed consolidated financial statements and the related notes should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2013 included in the Company’s annual report on Form 10-K. Operating results for interim periods are not necessarily indicative of the operating results for any other interim period or an entire year. | Reclassification | |||||||||||||||||||||||||||||||||
Principles of Consolidation | Certain amounts within the Consolidated Statements of Operations for the prior period have been reclassified to conform to the current period presentation. These reclassifications had no impact on the Company’s previously reported results of operations. | |||||||||||||||||||||||||||||||||
The Company’s consolidated financial statements include the accounts of International Stem Cell Corporation and its subsidiaries after intercompany balances and transactions have been eliminated. | Cash Equivalents | |||||||||||||||||||||||||||||||||
Reclassification | The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. | |||||||||||||||||||||||||||||||||
Certain amounts within the unaudited condensed consolidated statements of operations for the prior period have been reclassified to conform to the current period presentation. These reclassifications had no impact on the Company’s previously reported results of operations. | Restricted Cash | |||||||||||||||||||||||||||||||||
Cash Equivalents | The Company is required to maintain $50,000 in a restricted certificate of deposit account in order to fully collateralize two revolving credit card accounts. | |||||||||||||||||||||||||||||||||
The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. | Inventories | |||||||||||||||||||||||||||||||||
Restricted Cash | Inventories are accounted for using the first-in, first-out (FIFO) method for LSC products, and specific identification method for LCT products. Inventory balances are stated at the lower of cost or market. Laboratory supplies used in the research and development process are expensed as consumed. Inventory is reviewed periodically for product expiration and obsolescence and is adjusted accordingly. | |||||||||||||||||||||||||||||||||
The Company is required to maintain $50,000 in a restricted certificate of deposit account in order to fully collateralize two revolving credit card accounts. | Accounts Receivable | |||||||||||||||||||||||||||||||||
Inventories | Trade accounts receivable are recorded at the net invoice value and are not interest bearing. Accounts receivable primarily consist of trade accounts receivable from the sales of LCT’s products, timing of cash receipts by the Company related to LSC credit card sales to customers, as well as LSC trade receivable amounts related to spa and distributor sales. The Company considers receivables past due based on the contractual payment terms. The Company reviews its exposure to accounts receivable and reserves specific amounts if collectability is no longer reasonably assured. As of December 31, 2013 and 2012, the Company had an allowance for doubtful accounts of $19,000 and $4,000, respectively. | |||||||||||||||||||||||||||||||||
Inventories are accounted for using the first-in, first-out (FIFO) method for LSC products and specific identification method for LCT products. Inventory balances are stated at the lower of cost or market. Laboratory supplies used in the research and development process are expensed as consumed. Inventory is reviewed periodically for product expiration and obsolescence and is adjusted accordingly. | Property and Equipment | |||||||||||||||||||||||||||||||||
Accounts Receivable | Property and equipment are stated at cost. The provision for depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, generally over five years. The costs of major remodeling and leasehold improvements are capitalized and amortized over the shorter of the remaining term of the lease or the life of the asset. | |||||||||||||||||||||||||||||||||
Trade accounts receivable are recorded at the net invoice value and are not interest bearing. Accounts receivable primarily consist of trade accounts receivable from the sales of LCT’s products, timing of cash receipts by the Company related to LSC credit card sales to customers, as well as LSC trade receivable amounts related to spa and distributor sales. The Company considers receivables past due based on the contractual payment terms. The Company reviews its exposure to accounts receivable and reserves specific amounts if collectability is no longer reasonably assured. As of September 30, 2014 and December 31, 2013, the Company had an allowance for doubtful accounts totaling $19,000. | ||||||||||||||||||||||||||||||||||
Property and Equipment | Intangible Assets | |||||||||||||||||||||||||||||||||
Property and equipment are stated at cost. The provision for depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, generally over five years. The costs of major remodeling and leasehold improvements are capitalized and amortized over the shorter of the remaining term of the lease or the life of the asset. | Intangible assets consist of acquired research and development rights used in research and development, and capitalized legal fees related to the acquisition, filing, maintenance, and defense of patents. Patent or patent license amortization only begins once a patent license is acquired or a patent is issued by the appropriate authoritative bodies. In the period in which a patent application is rejected or efforts to pursue the patent are abandoned, all the related accumulated costs are expensed. Patents and patent licenses are recorded at cost of $2,760,000 and $2,083,000 at December 31, 2013 and 2012, respectively, and are amortized on a straight-line basis over the shorter of the lives of the underlying patents or the useful life of the license. Amortization expense for the years ended December 31, 2013 and 2012 amounted to $61,000 and $54,000, respectively, and is included in research and development expense. Accumulated amortization as of December 31, 2013 and 2012 was $510,000 and $449,000, respectively. Additional information regarding patents and patent licenses is included in Note 4. | |||||||||||||||||||||||||||||||||
Intangible Assets | Long-Lived Asset Impairment | |||||||||||||||||||||||||||||||||
Intangible assets consist of acquired research and development rights used in research and development, and capitalized legal fees related to the acquisition, filing, maintenance, and defense of patents. Patent or patent license amortization only begins once a patent license is acquired or a patent is issued by the appropriate authoritative bodies. In the period in which a patent application is rejected or efforts to pursue the patent are abandoned, all the related accumulated costs are expensed. Patents and patent licenses are recorded at cost and are amortized on a straight-line basis over the shorter of the lives of the underlying patents or the useful life of the license. | The Company reviews long-lived assets for impairment when events or changes in business conditions indicate that their carrying value may not be recovered, and at least annually. The Company considers assets to be impaired and writes them down to fair value if expected associated undiscounted cash flows are less than the carrying amounts. Fair value is the present value of the associated cash flows. The Company recognized $52,000 and $190,000 of impairment losses on its long-lived assets during the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||
Long-Lived Asset Impairment | Product Sales | |||||||||||||||||||||||||||||||||
The Company reviews long-lived assets for impairment when events or changes in business conditions indicate that their carrying value may not be recovered, and at least annually. The Company considers assets to be impaired and writes them down to fair value if expected associated undiscounted cash flows are less than the carrying amounts. Fair value is the present value of the associated cash flows. The Company did not recognize material impairments on its long-lived assets during the three and nine months ended September 30, 2014 and 2013. | The Company recognizes revenue from product sales at the time of shipment to the customer, provided no significant obligations remain and collection of the receivable is reasonably assured. If the customer has a right of return, the Company recognizes product revenues upon shipment, provided that future returns can be reasonably estimated. In the case where returns cannot be reasonably estimated, revenue will be deferred until such estimates can be made or the right of return has lapsed. LCT contributed 48% and 52% of total revenue in 2013 and 2012, respectively. LSC’s revenue accounted for 52% and 48% of total revenue in 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||
Product Sales | Deferred Revenue and Allowance for Sales Returns | |||||||||||||||||||||||||||||||||
The Company recognizes revenue from product sales at the time of shipment to the customer, provided no significant obligations remain and collection of the receivable is reasonably assured. If the customer has a right of return, the Company recognizes product revenues upon shipment, provided that future returns can be reasonably estimated. In the case where returns cannot be reasonably estimated, revenue will be deferred until such estimates can be made or the right of return has lapsed. LCT contributed 52% and 51% of total revenue during the nine months ended September 30, 2014 and 2013, respectively. LSC contributed 48% and 49% of total revenue during the nine months ended September 30, 2014 and 2013, respectively. | The Company recognizes revenue from product sales when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. However, the LSC products have a 30-day product return guarantee for website sales. The Company has estimated the historical rate of returns for the 30-day product return guarantee to be approximately 3% for the years ended December 31, 2013 and 2012. As such at December 31, 2013, the Company recorded an estimated allowance for sales returns of $10,000, and a one-time recognition of prior deferred revenue of $277,000, offset by prior deferred cost of sales of $21,000 for net deferred revenue recognition of $256,000. | |||||||||||||||||||||||||||||||||
Deferred Revenue and Allowance for Sales Returns | During 2012, the Company deferred all revenue associated with website sales until the 30-day product return guarantee had lapsed due to insufficient historical data of sales returns to accurately estimate an allowance for sales returns. In addition, all costs associated with these product sales were also deferred so that a net deferred revenue balance was reflected. At December 31, 2012, net deferred revenue totaled $233,000. | |||||||||||||||||||||||||||||||||
The Company recognizes revenue from product sales when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. However, the LSC products have a 30-day product return guarantee for website sales. The Company has estimated the historical rate of returns for the 30-day product return guarantee, which has remained consistent for the three and nine months ended September 30, 2014 as compared to the years ended December 31, 2013 and 2012. At September 30, 2014 and December 31, 2013, the estimated allowance for sales returns was $10,000. At September 30, 2014 and December 31, 2013, net deferred revenue totaled $0 and $3,000, respectively. | Cost of Sales | |||||||||||||||||||||||||||||||||
Cost of Sales | Cost of sales consists primarily of salaries and benefits associated with employee efforts expended directly on the production of the Company’s products and include related direct materials, general laboratory supplies and allocation of overhead. Certain of the agreements under which the Company has licensed technology will require the payment of royalties based on the sale of its future products. Such royalties will be recorded as a component of cost of sales. Additionally, the amortization of license fees or milestone payments related to developed technologies used in the Company’s products will be classified as a component of cost of sales to the extent such payments become due in the future. | |||||||||||||||||||||||||||||||||
Cost of sales consists primarily of salaries and benefits associated with employee efforts expended directly on the production of the Company’s products and include related direct materials, general laboratory supplies and allocation of overhead. Certain of the agreements under which the Company has licensed technology will require the payment of royalties based on the sale of its future products. Such royalties will be recorded as a component of cost of sales. Additionally, the amortization of license fees or milestone payments related to developed technologies used in the Company’s products will be classified as a component of cost of sales to the extent such payments become due in the future. | Research and Development Costs | |||||||||||||||||||||||||||||||||
Research and Development Costs | Research and development costs, which are expensed as incurred, are primarily comprised of costs and expenses for salaries and benefits associated with research and development personnel, overhead and occupancy, contract services, and amortization of license costs for technology used in research and development with alternative future uses. | |||||||||||||||||||||||||||||||||
Research and development costs, which are expensed as incurred, are primarily comprised of costs and expenses for salaries and benefits associated with research and development personnel, overhead and occupancy, contract services, and amortization of license costs for technology used in research and development with alternative future uses. | ||||||||||||||||||||||||||||||||||
Stock-Based Compensation | Registration Payment Arrangements | |||||||||||||||||||||||||||||||||
The Company recognized stock-based compensation expense associated with stock options and other stock-based awards in accordance with the authoritative guidance for stock-based compensation. The cost of a stock-based award is measured at the grant date based on the estimated fair value of the award, and is recognized as expense on a straight-line basis, net of estimated forfeitures over the requisite service period of the award. The fair value of stock options is estimated using the Black-Scholes option valuation model, which requires the input of subjective assumptions, including price volatility of the underlying stock, risk-free interest rate, dividend yield, and expected life of the option. The fair value of restricted stock awards is based on the market value of our common stock on the date of grant. | In accordance with applicable authoritative guidance, the Company is required to separately recognize and measure registration payment arrangements, whether issued as a separate agreement or included as a provision of a financial instrument or other agreement. Such payments include penalties for failure to effect a registration of securities. | |||||||||||||||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements | |||||||||||||||||||||||||||||||||
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Assets and liabilities that are measured at fair value are reported using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: | Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Assets and liabilities that are measured at fair value are reported using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: | |||||||||||||||||||||||||||||||||
Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |||||||||||||||||||||||||||||||
Level 2 | Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and | Level 2 | Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and | |||||||||||||||||||||||||||||||
Level 3 | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | Level 3 | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | |||||||||||||||||||||||||||||||
Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of September 30, 2014 (in thousands): | Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||||||||||||||
The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
ASSETS: | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | ||||||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||||||||
LIABILITIES: | Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | |||||||||||||||||||||||||
Warrants to purchase common stock | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2013 (in thousands): | LIABILITIES: | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | $ | 4,925 | $ | — | $ | — | $ | 4,925 | ||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2012 (in thousands): | ||||||||||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | ||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||||||||
Warrants to purchase common stock | $ | 4,925 | $ | — | $ | — | $ | 4,925 | ASSETS: | |||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | ||||||||||||||||||||||||||
The following table displays the rollforward activity of liabilities with inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity) (in thousands): | ||||||||||||||||||||||||||||||||||
The following table displays the rollforward activity of liabilities with inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity) (in thousands): | ||||||||||||||||||||||||||||||||||
Warrants to | ||||||||||||||||||||||||||||||||||
purchase | ||||||||||||||||||||||||||||||||||
common | Warrants to purchase | |||||||||||||||||||||||||||||||||
stock | common stock | |||||||||||||||||||||||||||||||||
Beginning balance at December 31, 2012 | $ | — | ||||||||||||||||||||||||||||||||
Issuances of warrants | 5,986 | Ending balance at December 31, 2011 | $ | 38 | ||||||||||||||||||||||||||||||
Exercise of warrants | (1,815 | ) | Issuances of warrants | — | ||||||||||||||||||||||||||||||
Adjustments to estimated fair value | 754 | Adjustments to estimated fair value due to expiry | (38 | ) | ||||||||||||||||||||||||||||||
Ending balance at December 31, 2013 | 4,925 | |||||||||||||||||||||||||||||||||
Issuances of warrants | — | Ending balance at December 31, 2012 | — | |||||||||||||||||||||||||||||||
Exercise of warrants | — | Issuances of warrants | 5,986 | |||||||||||||||||||||||||||||||
Adjustments to estimated fair value | (1,894 | ) | Exercise of warrants | (1,815 | ) | |||||||||||||||||||||||||||||
Warrants exchanged for common stock | (3,031 | ) | Adjustments to estimated fair value | 754 | ||||||||||||||||||||||||||||||
Ending balance at September 30, 2014 | $ | — | ||||||||||||||||||||||||||||||||
Ending balance at December 31, 2013 | $ | 4,925 | ||||||||||||||||||||||||||||||||
Income Taxes | ||||||||||||||||||||||||||||||||||
The Company accounts for income taxes in accordance with applicable authoritative guidance, which requires the Company to provide a net deferred tax asset/liability equal to the expected future tax benefit/expense of temporary reporting differences between book and tax accounting methods and any available operating loss or tax credit carryforwards. | Income Taxes | |||||||||||||||||||||||||||||||||
Use of Estimates | The Company accounts for income taxes in accordance with applicable authoritative guidance, which requires the Company to provide a net deferred tax asset/liability equal to the expected future tax benefit/expense of temporary reporting differences between book and tax accounting methods and any available operating loss or tax credit carryforwards. | |||||||||||||||||||||||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements. Significant estimates include patent life (remaining legal life versus remaining useful life), inventory carrying values and transactions using the Black-Scholes option pricing model, e.g., warrants and stock options, as well as the Monte-Carlo valuation method for certain warrants. Actual results could differ from those estimates. | Use of Estimates | |||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Significant estimates include patent life (remaining legal life versus remaining useful life), inventory carrying values, and transactions using the Black-Scholes option pricing model, e.g., warrants and stock options, as well as the Monte-Carlo valuation method for certain warrants. Actual results could differ from those estimates. | |||||||||||||||||||||||||||||||||
The Company believes that the carrying value of its cash and cash equivalents, receivables, accounts payable and accrued liabilities as of September 30, 2014 and December 31, 2013 approximate their fair values because of the short-term nature of those instruments. The fair value of certain warrants was determined at each quarterly reporting date as necessary using the Monte-Carlo valuation methodology. | Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||
Income (Loss) Per Common Share | The Company believes that the carrying value of its cash and cash equivalents, receivables, accounts payable and accrued liabilities as of December 31, 2013 and 2012 approximate their fair values because of the short-term nature of those instruments. The fair value of certain warrants was determined at each quarterly reporting date as necessary in 2013 and 2012 using the Monte-Carlo valuation methodology. | |||||||||||||||||||||||||||||||||
The computation of net loss per common share is based on the weighted average number of shares outstanding during each period. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the period plus the common stock equivalents, which would arise from the exercise of stock options and warrants outstanding using the treasury stock method and the average market price per share during the period. At September 30, 2014, there were 308,875 non-vested restricted stock awards, 20,770,037 vested and 6,372,173 non-vested stock options outstanding, and 7,762,500 warrants outstanding; and at September 30, 2013, there were 596,250 non-vested restricted stock awards, 67,395,832 shares issuable upon exercise of warrants, and 17,914,518 vested and 5,780,175 non-vested stock options outstanding. These restricted stock awards, stock options and warrants were not included in the diluted loss per share calculation because the effect would have been anti-dilutive. | Income (Loss) Per Common Share | |||||||||||||||||||||||||||||||||
Comprehensive Income | The computation of net loss per common share is based on the weighted average number of shares outstanding during each period. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the period plus the common stock equivalents, which would arise from the exercise of stock options and warrants outstanding using the treasury stock method and the average market price per share during the period. At December 31, 2013, there were 145,000 non-vested restricted stock awards, 18,958,403 vested and 4,679,290 non-vested stock options outstanding, and 44,983,988 warrants outstanding, which were convertible into 45,650,654 shares of common stock; and at December 31, 2012, there were 335,000 non-vested restricted stock awards, 3,500,000 warrants, and 15,407,902 vested and 7,969,230 non-vested stock options outstanding. These restricted stock awards, stock options and warrants were not included in the diluted loss per share calculation because the effect would have been anti-dilutive. | |||||||||||||||||||||||||||||||||
Comprehensive income or loss includes all changes in equity except those resulting from investments by owners and distributions to owners. The Company did not have any items of comprehensive income or loss other than net loss from operations for the three and nine months ended September 30, 2014 and 2013. | ||||||||||||||||||||||||||||||||||
Comprehensive Income | ||||||||||||||||||||||||||||||||||
Registration Payment Arrangements | Comprehensive income or loss includes all changes in equity except those resulting from investments by owners and distributions to owners. The Company did not have any items of comprehensive income or loss other than net loss from operations for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
In accordance with applicable authoritative guidance, the Company is required to separately recognize and measure registration payment arrangements, whether issued as a separate agreement or included as a provision of a financial instrument or other agreement. Such payments include penalties for failure to effect a registration of securities. | Recent Accounting Pronouncements | |||||||||||||||||||||||||||||||||
Recent Accounting Pronouncements | In July 2013, the FASB issued an accounting standards update that provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013, with an option of early adoption. The Company intends to adopt this guidance at the beginning of the first quarter of fiscal year 2014, and do not believe the adoption of this standard will have a material impact on its financial position, results of operations or related financial statement disclosures. | |||||||||||||||||||||||||||||||||
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The ASU provides guidance to an organization’s management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations today in the financial statement footnotes. The amendments are effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not intend to early adopt this standard. The adoption of this standard will not have an impact on the financial condition of the Company. | ||||||||||||||||||||||||||||||||||
In May 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | ||||||||||||||||||||||||||||||||||
In July 2013, the FASB issued an accounting standards update that provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company has adopted this guidance at the beginning of the first quarter of fiscal year 2014. The adoption of this standard does not have a material impact on the Company’s financial position, results of operations or related financial statement disclosures. |
Inventory
Inventory | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||||
Inventory | ' | ' | ||||||||||||||||
2. Inventory | 2. Inventory | |||||||||||||||||
The components of inventories are as follows (in thousands): | Inventories are accounted for using the first-in, first-out (FIFO) method for LSC products, and specific identification method for LCT products. Lab supplies used in the research and development process are expensed as consumed. Inventory is reviewed periodically for product expiration and obsolete inventory and adjusted accordingly. The components of inventories are as follows (in thousands): | |||||||||||||||||
September 30, | December 31, | December 31, | December 31, | |||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||
Raw materials | $ | 199 | $ | 147 | ||||||||||||||
Work in process | 454 | 446 | Raw materials | $ | 147 | $ | 276 | |||||||||||
Finished goods | 1,019 | 902 | Work in process | 446 | 211 | |||||||||||||
Finished goods | 902 | 748 | ||||||||||||||||
Total | 1,672 | 1,495 | ||||||||||||||||
Less: allowance for inventory obsolescence | (139 | ) | (126 | ) | ||||||||||||||
Total | 1,495 | 1,235 | ||||||||||||||||
Inventory, net | $ | 1,533 | $ | 1,369 | Less: allowance for inventory obsolescence | (126 | ) | (36 | ) | |||||||||
Inventory, net | $ | 1,369 | $ | 1,199 | ||||||||||||||
Property_and_Equipment
Property and Equipment | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | ' | ||||||||||||||||
Property and Equipment | ' | ' | ||||||||||||||||
3. Property and Equipment | 3. Property and Equipment | |||||||||||||||||
Property and equipment consists of the following (in thousands): | Property and equipment consists of the following (in thousands): | |||||||||||||||||
September 30, | December 31, | December 31, | December 31, | |||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||
Machinery and equipment | $ | 1,348 | $ | 1,170 | ||||||||||||||
Computer equipment | 214 | 246 | Machinery and equipment | $ | 1,170 | $ | 1,072 | |||||||||||
Office equipment | 203 | 203 | Computer equipment | 246 | 347 | |||||||||||||
Leasehold improvements | 757 | 745 | Office equipment | 203 | 225 | |||||||||||||
Construction in progress | 64 | — | Leasehold improvements | 745 | 830 | |||||||||||||
2,586 | 2,364 | |||||||||||||||||
Less: accumulated depreciation and amortization | (1,805 | ) | (1,534 | ) | 2,364 | 2,474 | ||||||||||||
Less: accumulated depreciation and amortization | (1,534 | ) | (1,340 | ) | ||||||||||||||
Property and equipment, net | $ | 781 | $ | 830 | ||||||||||||||
Property and equipment, net | $ | 830 | $ | 1,134 | ||||||||||||||
Depreciation expenses for the three and nine months ended September 30, 2014 were $101,000 and $302,000, respectively. During the same periods in the prior year, depreciation expenses were $100,000 and $301,000, respectively. | ||||||||||||||||||
Depreciation expense for the years ended December 31, 2013 and 2012 were $403,000 and $420,000, respectively. |
Patent_Licenses
Patent Licenses | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ||||||||
Patent Licenses | ' | ' | ||||||||
4. Patent Licenses | 4. Patent Licenses | |||||||||
On December 31, 2003, LCT entered into an Option to License Intellectual Property agreement with Advanced Cell Technology, Inc. (“ACT”) for patent rights and paid ACT $340,000 in option and license fees. On February 13, 2004, LCT and ACT amended the Option agreement and LCT paid ACT additional option fees of $22,500 for fees related to registering ACT’s patents in selected international countries. | On December 31, 2003, LCT entered into an Option to License Intellectual Property agreement with Advanced Cell Technology, Inc. (“ACT”) for patent rights and paid ACT $340,000 in option and license fees. On February 13, 2004, LCT and ACT amended the Option agreement and LCT paid ACT additional option fees of $22,500 for fees related to registering ACT’s patents in selected international countries. | |||||||||
On May 14, 2004, LCT amended the licensing agreement with ACT for the exclusive worldwide patent rights for the following ACT technologies: UMass IP, ACT IP and Infigen IP. The additional license fees paid were $400,000. | On May 14, 2004, LCT amended the licensing agreement with ACT for the exclusive worldwide patent rights for the following ACT technologies: UMass IP, ACT IP and Infigen IP. The additional license fees paid were $400,000. | |||||||||
On February 7, 2013, the Company and ACT entered into Amended and Restated License Agreements (the “Amendment”) for the purpose of completely amending and restating the terms of the license agreements. Under the terms of the Amendment, the Company acquired exclusive world-wide rights to all human therapeutic uses and cosmetic uses from ATC and Infigen’s early work on parthenogenic-derived embryonic stem cells, as well as certain rights to patents covering Single Blastomere technology. | On February 7, 2013, the Company and ACT entered into Amended and Restated License Agreements (the “Amendment”) for the purpose of completely amending and restating the terms of the license agreements. Under the terms of the Amendment, the Company acquired exclusive world-wide rights to all human therapeutic uses and cosmetic uses from ATC and Infigen’s early work on parthenogenic-derived embryonic stem cells, as well as certain rights to patents covering Single Blastomere technology. | |||||||||
Pursuant to the Amendment, all minimum R&D requirements and all milestone payments due to ACT under the Exclusive License Agreement have been eliminated. The Company will no longer pay any royalties under the ACT IP Agreement and Infigen IP Agreement. The obligation to pay royalties that ranged from 6%-12% under the UMass IP Agreement has been reduced to 0.25% of the net sales of products using technology covered by the UMass IP Agreement; and the obligation to pay a minimum annual license fee of $150,000 has been reduced to $75,000 annually, payable in two installments to ACT. As of September 30, 2014, the total amount capitalized related to the acquired ACT licenses was $747,000, and $2,417,000 related to the other patent acquisition costs. | Pursuant to the Amendment, all minimum R&D requirements and all milestone payments due to ACT under the Exclusive License Agreement have been eliminated. The Company will no longer pay any royalties under the ACT IP Agreement and Infigen IP Agreement. The obligation to pay royalties that ranged from 6%-12% under the UMass IP Agreement has been reduced to 0.25% of the net sales of products using technology covered by the UMass IP Agreement; and the obligation to pay a minimum annual license fee of $150,000 has been reduced to $75,000 annually, payable in two installments to ACT. Total license fees paid were $75,000 and $150,000, for the years ended December 31, 2013 and 2012, respectively. | |||||||||
Patents and patent licenses were recorded at cost of $3,164,000 and $2,760,000 at September 30, 2014 and December 31, 2013, respectively. Amortization expense for the three months ended September 30, 2014 and 2013 was $16,000 and $15,000, respectively; and amortization expense for the nine months ended September 30, 2014 and 2013 was $47,000 and $45,000, respectively. All amortization expense related to intangible assets is included in general and administrative expense. Accumulated amortization as of September 30, 2014 and December 31, 2013 was $556,000 and $510,000, respectively. | As of December 31, 2013, the total amounts capitalized related to the acquired ACT licenses were $747,000, and $1,970,000 related to other patent acquisition costs. | |||||||||
At September 30, 2014, future amortization expense related to intangible assets subject to amortization is expected to be as follows (in thousands): | At December 31, 2013, future amortization expense related to the intangible assets subject to amortization is expected to be as follows (in thousands): | |||||||||
Amount | Amount | |||||||||
2014 (remaining three months) | $ | 16 | ||||||||
2015 | 62 | 2014 | $ | 62 | ||||||
2016 | 62 | 2015 | 62 | |||||||
2017 | 62 | 2016 | 62 | |||||||
2018 | 62 | 2017 | 62 | |||||||
Thereafter | 2,344 | 2018 | 62 | |||||||
Thereafter | 1,897 | |||||||||
Total | $ | 2,608 | ||||||||
Total | $ | 2,207 | ||||||||
Advances
Advances | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||
Advances | ' | ' | ||||||||||||||||
5. Advances | 5. Advances | |||||||||||||||||
On June 18, 2008, the Company entered into an agreement with BioTime, Inc. (“Bio Time”), where Bio Time will pay an advance of $250,000 to LCT to produce, make, and distribute Joint Products. The $250,000 advance will be paid down with the first $250,000 of net revenues that otherwise would be allocated to LCT under the agreement. As of September 30, 2014, no revenues were realized from this agreement. | On June 18, 2008, the Company entered into an agreement with BioTime, Inc. (“BioTime”), where BioTime will pay an advance of $250,000 to Lifeline Cell Technology, a wholly-owned subsidiary of International Stem Cell Corporation, to produce, make, and distribute Joint Products. The $250,000 advance will be paid down with the first $250,000 of net revenues that otherwise would be allocated to LCT under the agreement. As of December 31, 2013, no revenues were realized from this agreement. | |||||||||||||||||
September 30, | December 31, | December 31, | December 31, | |||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||
BioTime, Inc. (in thousands) | $ | 250 | $ | 250 | ||||||||||||||
BioTime, Inc. (in thousands) | $ | 250 | $ | 250 |
Capital_Stock
Capital Stock | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||
Equity [Abstract] | ' | ' | ||||||||
Capital Stock | ' | ' | ||||||||
6. Capital Stock | 6. Capital Stock | |||||||||
As of September 30, 2014, the Company is authorized to issue 600,000,000 shares of common stock, $0.001 par value per share, and 20,000,000 shares of preferred stock, $0.001 par value per share. | As of December 31, 2013, the Company is authorized to issue 300,000,000 shares of common stock, $0.001 par value per share, and 20,000,000 shares of preferred stock, $0.001 par value per share. | |||||||||
Preferred Stock Transactions | Preferred Stock Transactions | |||||||||
Series B Preferred Stock | Series A Preferred Stock | |||||||||
On May 12, 2008, to obtain funding for working capital, the Company entered into a series of subscription agreements with five accredited investors for the sale of a total of 400,000 Series B Units, each Series B Unit consisting of one share of Series B Preferred Stock (“Series B Preferred”) and two Series B Warrants (“Series B Warrants”) to purchase common stock for each $1.00 invested. | On January 15, 2008, to raise funds, the Company entered into a subscription agreement with accredited investors for the sale of between 1,000,000 and 5,000,000 Units of Series A Preferred Stock (“Series A Preferred”). Series A Units consist of one share of Series A Preferred and two Warrants (“Series A Warrants”) to purchase common stock for each $1.00 invested. The Series A Preferred was convertible into shares of common stock at market price on the date of the first finance closing, but not to exceed $1 per share and the Series A Warrants are exercisable at $0.50 per share. | |||||||||
The total purchase price received by the Company was $400,000. The Series B Preferred is convertible into shares of common stock at the initial conversion ratio of two shares of common stock for each share of Series B Preferred converted (which was established based on an initial conversion price of $0.50 per share), and the Series B Warrants were exercisable at $0.50 per share until five years from the issuance of the Series B Warrants, which expired unexercised in May 2013. The Series B Preferred contain anti-dilution clauses whereby, if the Company issues equity securities or securities convertible into equity at a price below the conversion price of the Series B Preferred, such conversion price shall be adjusted downward to equal the price of the new securities. During the first quarter of 2013, the Company issued additional shares of common stock at $0.20 per share, triggering an adjustment in the conversion price of the Series B Preferred to $0.20. As a result of the 2013 S-1 July Registered Offering discussed below, the conversion price for the Series B Preferred was reduced to $0.15 and $0.1452 in the third and fourth quarters of 2013, respectively. During the second quarter of 2014, the 2014 Warrant Exchange Agreements discussed below triggered an adjustment in the current conversion price of the Series B Preferred to $0.0667 per share. The Series B Preferred has a priority (senior to the shares of common stock) on any sale or liquidation of the Company equal to the purchase price of the Series B Units, plus a liquidation premium of 6% per year. If the Company elects to declare a dividend in any year, it must first pay to the Series B Preferred holder a dividend equal to the amount of the dividend the Series B Preferred holder would receive if the Series B Preferred were converted just prior to the dividend declaration. Each share of Series B Preferred has the same voting rights as the number of shares of common stock into which it would be convertible on the record date. As of September 30, 2014 and December 31, 2013, there were 300,000 shares of the Series B Preferred issued and outstanding. | During the second quarter of 2010, the holders of the warrants issued to the purchasers of Series A Preferred signed a waiver to give up their rights to the anti-dilution provisions related to the warrants and the exercise price was fixed at $0.25. | |||||||||
Series C Preferred Stock | On March 30, 2012, the holder of the remaining 500,000 shares of Series A Preferred converted his shares to a total of 2,000,000 shares of common stock. As of December 31, 2012, there were no shares of the Series A Preferred issued and outstanding. In May 2012, the Company filed a Certificate of Elimination for the Series A Preferred stock to remove the powers, designations, preferences, privileges and other rights of the Series A Preferred stock. | |||||||||
On August 20, 2008, 700,000 shares of Series C Preferred Stock (“Series C Preferred”) were sold, and 1,300,000 shares of Series C Preferred were sold on September 23, 2008 all at a price of $1.00 per Series C Preferred share. The Series C Preferred was convertible into shares of common stock at $0.25 per share. All the Series C Preferred was issued to X-Master Inc., which is a related party and affiliated with the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors, Dr. Andrey Semechkin, and Dr. Ruslan Semechkin, Chief Scientific Officer and a director. | Series B Preferred Stock | |||||||||
As of September 30, 2014 and December 31, 2013, there were 0 shares of the Series C Preferred issued and outstanding. On January 22, 2013, the holders of Series C Preferred converted all of the outstanding shares of Series C Preferred into common stock at $0.25 per share, or a total of 8,000,000 shares of common stock. | On May 12, 2008, to obtain funding for working capital, the Company entered into a series of subscription agreements with five accredited investors for the sale of a total of 400,000 Series B Units, each Series B Unit consisting of one share of Series B Preferred Stock (“Series B Preferred”) and two Series B Warrants (“Series B Warrants”) to purchase common stock for each $1.00 invested. | |||||||||
On April 10, 2013, the Company filed a Certificate of Elimination for the Series C Preferred stock. The Certificate of Elimination amended the provisions of the Certificate of Incorporation of the Company to eliminate the powers, designations, preferences, privileges and other rights of the Series C Preferred stock. | The total purchase price received by the Company was $400,000. The Series B Preferred is convertible into shares of common stock at the initial conversion ratio of two shares of common stock for each share of Series B Preferred converted (which was established based on an initial conversion price of $0.50 per share), and the Series B Warrants were exercisable at $0.50 per share until five years from the issuance of the Series B Warrants. The Series B Preferred and Series B Warrants contained anti-dilution clauses whereby, (subject to the exceptions contained in those instruments) if the Company issues equity securities or securities convertible into equity at a price below the respective conversion price of the Series B Preferred or the exercise price of the Series B Warrant, such conversion and exercise prices shall be adjusted downward to equal the price of the new securities. During the first quarter of 2013, the Company issued additional shares of common stock at $0.20 per share, triggering an adjustment in the conversion price of the Series B Preferred to $0.20. As a result of the 2013 S-1 July Registered Offering discussed below, the conversion price for the Series B Preferred was reduced to $0.15 and $0.1452 in the third and fourth quarters of 2013, respectively. The Series B Preferred has a priority (senior to the shares of common stock) on any sale or liquidation of the Company equal to the purchase price of the Series B Units, plus a liquidation premium of 6% per year. If the Company elects to declare a dividend in any year, it must first pay to the Series B Preferred holder a dividend equal to the amount of the dividend the Series B Preferred holder would receive if the Series B Preferred were converted just prior to the dividend declaration. Each share of Series B Preferred has the same voting rights as the number of shares of common stock into which it would be convertible on the record date. As of December 31, 2013 and 2012, there were 300,000 shares of the Series B Preferred issued and outstanding. | |||||||||
Series D Preferred Stock | ||||||||||
On December 30, 2008, the Company entered into a Series D Preferred Stock Purchase Agreement (the “Series D Agreement”) with accredited investors (the “Investors”) and sold 43 shares of Series D Preferred Stock (“Series D Preferred”) for total proceeds of $4,700,000 at a price of $100,000 per Series D Preferred share. | During the second quarter of 2010, the holders of the warrants issued to the purchasers of Series B Preferred signed a waiver to give up their rights to the anti-dilution provisions related to the warrants and the exercise price was fixed at $0.25. | |||||||||
10 shares of the Series D Preferred were issued to X-Master Inc., which is a related party and affiliated with the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors, Dr. Andrey Semechkin and Dr. Ruslan Semechkin, Chief Scientific Officer and a director; and 33 shares of the Series D Preferred were issued to Dr. Andrey Semechkin. As of September 30, 2014 and December 31, 2013, there were 43 shares of the Series D Preferred issued and outstanding. | Series C Preferred Stock | |||||||||
On December 4, 2012, the holders of all of the outstanding shares of Series D Preferred executed a Waiver of Anti-Dilution Rights (the “Anti-Dilution Waiver”) pursuant to which such holders waived all anti-dilution adjustment rights under the Certificate of Designation for the Series D Preferred in connection with the offering of securities pursuant to the registration statement originally filed with the SEC on October 18, 2012, including the shares issuable on exercise of all warrants registered thereunder. The Anti-Dilution Waiver applied to the financing transaction that closed on July 24, 2013. The Anti-Dilution Waiver does not apply to any future issuances of securities which would otherwise trigger anti-dilution adjustments under the Certificate of Designation for the Series D Preferred. During the first quarter of 2013, the Company issued additional shares of common stock at $0.20 per share, triggering an adjustment in the conversion price of the Series D Preferred to $0.20. During December 2013, the Company issued additional shares of common stock at $0.15 per share, triggering an adjustment in the conversion price of the Series D Preferred to $0.15 per share. During the second quarter of 2014, the 2014 Warrant Exchange Agreements discussed below triggered an adjustment in the current conversion price of the Series D Preferred to $0.0667 per share. | On August 20, 2008, to obtain funding for working capital, the Company entered into a subscription agreement with an accredited investor (the “Series C Investor”) to sell for $3,000,000 up to 3,000,000 shares of Series C Preferred Stock (“Series C Preferred”) at a price of $1.00 per Series C Preferred share. The Series C Preferred was convertible into shares of common stock at $0.25 per share. The Series C Preferred had priority over the common stock on any sale or liquidation of the Company equal to the purchase price of the Series C Preferred shares, plus a liquidation premium of 6% per year, but such payment would be made only after payment in full of the liquidation preferences payable to holders of any shares of Series A Preferred and Series B Preferred stock then outstanding. If the Company elects to declare a dividend in any year, it must first pay to the Series C Preferred a dividend in the amount of the dividend the Series C Preferred holder would receive if converted just prior to the dividend declaration. Each share of Series C Preferred had the same voting rights as the number of shares of common stock into which it would be convertible on the record date. | |||||||||
Series G Preferred Stock | On August 20, 2008, 700,000 shares of Series C Preferred were sold and 1,300,000 shares of Series C Preferred were sold on September 23, 2008. All the Series C Preferred was issued to X-Master Inc., which is a related party and affiliated with the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors Dr. Andrey Semechkin and Dr. Ruslan Semechkin, Chief Scientific Officer of International Stem Cell and a director. | |||||||||
On March 9, 2012, the Company entered into a Series G Preferred Stock Purchase Agreement (the “Series G Agreement”) with AR Partners, LLC (the “Purchaser”) to sell 5,000,000 shares of Series G Preferred Stock (“Series G Preferred”) at a price of $1.00 per Series G Preferred share, for a total purchase price of $5,000,000. The Purchaser is an affiliate of Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer, and Dr. Ruslan Semechkin, Chief Scientific Officer and a director. | As of December 31, 2013 and 2012, there were 0 and 2,000,000 shares of the Series C Preferred issued and outstanding, respectively. On January 22, 2013, the holders of Series C Preferred converted all of the outstanding shares of Series C Preferred into common stock at $0.25 per share, or a total of 8,000,000 shares of common stock. On April 10, 2013, the Company filed a Certificate of Elimination for the Series C Preferred stock. The Certificate of Elimination amended the provisions of the Certificate of Incorporation of the Company to eliminate the powers, designations, preferences, privileges and other rights of the Series C Preferred stock. | |||||||||
The Series G Preferred was initially convertible into shares of common stock at $0.40 per share, resulting in an initial conversion ratio of 2.5 shares of common stock for every share of Series G Preferred. The conversion price may be adjusted for stock splits and other combinations, dividends and distributions, recapitalizations and reclassifications, exchanges or substitutions and is subject to a weighted-average adjustment in the event of the issuance of additional shares of common stock below the conversion price. | Series D Preferred Stock | |||||||||
The Series G Preferred shares have priority over the Series B Preferred and common stock on the proceeds from any sale or liquidation of the Company in an amount equal to the purchase price of the Series G Preferred, but such payment may be made only after payment in full of the liquidation preferences payable to holders of any shares of Series D Preferred then outstanding. Each share of Series G Preferred has the same voting rights as the number of shares of common stock into which it would be convertible on the record date. As long as there are at least 1,000,000 shares of Series G Preferred outstanding, the holders of Series G Preferred have (i) the initial right to propose the nomination of two members of the Board, at least one of which such nominees shall be subject to the approval of the Company’s independent directors, for election by the stockholder’s at the Company’s next annual meeting of stockholders, or, elected by the full board of directors to fill a vacancy, as the case may be, and (ii) the right to approve any amendment to the certificate of incorporation, certificates of designation or bylaws, in manner adverse to the Series G Preferred, alter the percentage of board seats held by the Series G Preferred directors or increase the authorized number of shares of Series G Preferred. At least one of the two directors nominated by holders of the Series G Preferred shall be independent based on the NASDAQ listing requirements. | On December 30, 2008, the Company entered into a Series D Preferred Stock Purchase Agreement (the “Series D Agreement”) with accredited investors (the “Investors”) to sell for up to $5,000,000 or up to 50 shares of Series D Preferred Stock (“Series D Preferred”) at a price of $100,000 per Series D Preferred share. The Company sold 43 shares for total proceeds of $4,700,000 in the Series D Preferred round. | |||||||||
The Company determined that the Series G Preferred have a contingent redemption feature allowing redemption by the holder under only some very limited circumstances (“deemed liquidation events”). As the event that may trigger the redemption of the convertible preferred stock is not solely within the Company’s control, the convertible preferred stock has been classified as mezzanine equity (outside of permanent equity) on the Company’s consolidated balance sheet. Additionally, legal costs related to the Series G Preferred financing in the amount of $59,000 were recorded in the mezzanine equity as well. | Of the Series D Preferred issued, 10 shares of the Series D Preferred were issued to X-Master Inc., which is a related party and affiliated with the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors, Dr. Andrey Semechkin and Dr. Ruslan Semechkin, Chief Scientific Officer and a director; and 33 shares of the Series D Preferred were issued to Dr. Andrey Semechkin. As of December 31, 2013 and 2012, there were 43 shares of the Series D Preferred issued and outstanding. | |||||||||
As of September 30, 2014 and December 31, 2013, there were 5,000,000 shares of the Series G Preferred issued and outstanding. | Historically, the Series D Preferred earned cumulative dividends at a rate of 10% per annum through December 31, 2011 and 6% per annum effective January 1, 2012, payable 15 days after each quarter end. On October 12, 2012, the Company and the holders of all of the outstanding shares of Series D Preferred and Series G Preferred entered into a Waiver Agreement (the “Waiver Agreement”) pursuant to which such holders irrevocably waived their right to receive any and all accrued but unpaid dividends and interest thereon on or after September 30, 2012 on the Series D Preferred and Series G Preferred. Under the Waiver Agreement, the holders of Series D Preferred and Series G Preferred are restricted from transferring any shares of Series D Preferred unless the transferee agrees to be bound by the Waiver Agreement. | |||||||||
During the first quarter of 2013, the Company issued additional shares of common stock at $0.20 per share, triggering an adjustment in the conversion price and the conversion ratio of the Series G Preferred to $0.37 per share and 2.67 shares, respectively. As a result of the 2013 S-1 July Registered Offering during the third quarter of 2013, the conversion price and the conversion ratio for the Series G Preferred were adjusted to $0.30 per share and 3.28 shares, respectively. During December 2013, the Company issued additional shares of common stock at $0.15 per share, triggering an adjustment in the conversion price and the conversion ratio for the Series G Preferred to $0.3039 per share and 3.291 shares, respectively. | On December 4, 2012, the holders of all of the outstanding shares of Series D Preferred executed a Waiver of Anti-Dilution Rights (the “Anti-Dilution Waiver”) pursuant to which such holders waived all anti-dilution adjustment rights under the Certificate of Designation for the Series D Preferred in connection with the offering of securities pursuant to the registration statement originally filed with the SEC on October 18, 2012, including the shares issuable on exercise of all warrants registered thereunder. The Anti-Dilution Waiver applied to the financing transaction that closed on July 24, 2013. The Anti-Dilution Waiver does not apply to any future issuances of securities which would otherwise trigger anti-dilution adjustments under the Certificate of Designation for the Series D Preferred. During the first quarter of 2013, the Company issued additional shares of common stock at $0.20 per share, triggering an adjustment in the conversion price of the Series D Preferred to $0.20. During December 2013, the Company issued additional shares of common stock at $0.15 per share, triggering an adjustment in the current conversion price of the Series D Preferred to $0.15 per share. | |||||||||
During the first quarter of 2014, the Company issued additional shares of common stock to Lincoln Park, under the Purchase Agreement with Lincoln Park, at various prices ranging from $0.175 to $0.223 per share, triggering numerous adjustments in the conversion price and the conversion ratio of the Series G Preferred. During the second quarter of 2014, the Company issued additional shares of common stock to Lincoln Park, under the Purchase Agreement with Lincoln Park, at various prices ranging from $0.150 to $0.185 per share; and sold shares at $0.15 and $0.10 per share to Dr. Andrey Semechkin and Dr. Ruslan Semechkin, the Company’s Co-Chairman and Chief Executive Officer, and Chief Scientific Officer and a director, respectively, triggering numerous adjustments in the conversion price and the conversion ratio of the Series G Preferred. Also during the second quarter of 2014, common shares were issued at $0.0667 per share as part of the 2014 Warrant Exchange Agreements. During the third quarter of 2014, the Company sold additional shares of common stock to Dr. Andrey Semechkin, Dr. Ruslan Semechkin, and other executives of the Company for prices ranging from $0.09 to $0.10 per share, triggering adjustments in the conversion price and conversion ratio of the Series G Preferred Stock. As of September 30, 2014, the adjusted conversion price and the conversion ratio for the Series G Preferred were $0.2498 per share and 4.0025 shares, respectively. | ||||||||||
During the years ended December 31, 2013 and 2012, dividends of $0 and $237,000, respectively, were paid to the holders. As of December 31, 2013 and 2012, no Series D Preferred dividends were accrued. | ||||||||||
Common Stock Transactions | ||||||||||
2013 Securities Purchase Agreements for Common Stock | Series G Preferred Stock | |||||||||
On January 22, 2013, to obtain funding for working capital purposes, the Company entered into a securities purchase agreement with Dr. Andrey Semechkin and Dr. Simon Craw to sell a total of 10,125,000 shares of common stock at a price of $0.20 per share, for a total purchase price of $2,025,000. Dr. Andrey Semechkin is the Company’s Co-Chairman and Chief Executive Officer. Dr. Simon Craw is the Company’s Executive Vice President Business Development. The sale of the shares of common stock was completed on January 22, 2013. In connection with the sale of these shares, the Company issued to each purchaser a warrant, exercisable for a period of 5 years, to purchase a number of shares of common stock equal to 50% of the shares purchased by that purchaser, for a total of 5,062,500 shares subject to the warrants at an exercise price of $0.20 per share. | On March 9, 2012, the Company entered into a Series G Preferred Stock Purchase Agreement (the “Series G Agreement”) with AR Partners, LLC (the “Purchaser”) to sell 5,000,000 shares of Series G Preferred Stock (“Series G Preferred”) at a price of $1.00 per Series G Preferred share, for a total purchase price of $5,000,000. The Purchaser is an affiliate of Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer, and Dr. Ruslan Semechkin, Chief Scientific Officer and a director. | |||||||||
On March 12, 2013, to obtain funding for working capital purposes, the Company entered into a securities purchase agreement with certain investors, including Dr. Andrey Semechkin, to sell a total of 5,000,000 shares of common stock at a price of $0.20 per share, for a total purchase price of $1,000,000. Dr. Andrey Semechkin is the Company’s Co-Chairman and Chief Executive Officer and purchased $100,000 worth of common stock. Each of the other investors has had a long-standing relationship with the Company and has closely followed the Company. The sale of the shares of common stock was completed on March 12, 2013. In connection with the sale of these shares the Company issued to each investor a warrant, exercisable for a period of five years, to purchase a number of shares of common stock equal to 50% of the shares purchased by that investor, for a total of 2,500,000 shares subject to the warrants at an exercise price of $0.20 per share. | The Series G Preferred is convertible into shares of common stock at $0.40 per share, resulting in an initial conversion ratio of 2.5 shares of common stock for every share of Series G Preferred. The conversion price may be adjusted for stock splits and other combinations, dividends and distributions, recapitalizations and reclassifications, exchanges or substitutions and is subject to a weighted-average adjustment in the event of the issuance of additional shares of common stock below the conversion price. | |||||||||
2013 S-1 July Registered Offering | The Series G Preferred shares have priority over the Series B Preferred and common stock on the proceeds from any sale or liquidation of the Company in an amount equal to the purchase price of the Series G Preferred, but such payment may be made only after payment in full of the liquidation preferences payable to holders of any shares of Series D Preferred then outstanding. Historically, from the date of issuance of the Series G Preferred, cumulative dividends at the rate per annum of six percent (6%) of the Purchase Price per share accrued quarterly on such shares of Series G Preferred. Each share of Series G Preferred has the same voting rights as the number of shares of common stock into which it would be convertible on the record date. As long as there are at least 1,000,000 shares of Series G Preferred outstanding, the holders of Series G Preferred have (i) the initial right to propose the nomination of two members of the Board, at least one of which such nominees shall be subject to the approval of the Company’s independent directors, for election by the stockholder’s at the Company’s next annual meeting of stockholders, or, elected by the full board of directors to fill a vacancy, as the case may be, and (ii) the right to approve any amendment to the certificate of incorporation, certificates of designation or bylaws, in manner adverse to the Series G Preferred, alter the percentage of board seats held by the Series G Preferred directors or increase the authorized number of shares of Series G Preferred. At least one of the two directors nominated by holders of the Series G Preferred shall be independent based on the NASDAQ listing requirements. | |||||||||
On July 19, 2013, to obtain funding for working capital purposes, the Company entered into subscription agreements with certain investors (the “Investors”) relating to the sale by the Company of (i) 20,000,000 Units (each a “Unit”, and collectively, the “Units”), with each Unit consisting of (x) one share of common stock, par value $0.001 per share, and (y) one Series A Warrant to purchase one share of the Company’s common stock at an exercise price of $0.15 per share and (ii) 20,000,000 Series B Warrants, each to purchase one Unit, for aggregate gross proceeds of $3,000,000, before placement agent fees and other estimated offering expenses and fees (the “Offering”). The Units were not issued or certificated. The Investors received only shares of common stock, Series A Warrants and Series B Warrants. The common stock, the Series A Warrants and the Series B Warrants were and may be transferred separately immediately after their issuance. Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer, purchased 5,998,999 Units and 5,998,999 Series B Warrants in the Offering; and Ruslan Semechkin, the Company’s Chief Scientific Officer, purchased 667,667 Units and 667,667 Series B Warrants in the Offering for an aggregate price of $1,000,000. | On October 12, 2012, the Company and the holders of all of the outstanding shares of Series D Preferred and Series G Preferred entered into the Waiver Agreement pursuant to which such holders irrevocably waived their right to receive any and all accrued but unpaid dividends and interest thereon on or after September 30, 2012 on the Series D Preferred and Series G Preferred. Accordingly, dividends from inception in the amount of $93,000 accreted to the carrying value of Series G Preferred have been reversed. Under the Waiver Agreement, the holders of Series D Preferred and Series G Preferred stock are restricted from transferring any shares of Series D Preferred or Series G Preferred unless the transferee agrees to be bound by the Waiver Agreement. As of December 31, 2013 and 2012, there were no dividends accrued on Series G Preferred. No dividends were paid to the holders during the years ended December 31, 2013 and 2012. As of December 31, 2013 and 2012, there were 5,000,000 shares of the Series G Preferred issued and outstanding. | |||||||||
On July 19, 2013, the Company also entered into a placement agent agreement (the “Placement Agent Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to act on a reasonable best efforts basis for the Offering. The Company paid the Placement Agent a cash fee equal to 5% of the gross proceeds from the Offering and reimbursed the Placement Agent for its reasonable out-of-pocket expenses of $75,000. The Company also issued 666,666 Placement Agent Warrants to purchase Units equal to 5% of the aggregate number of Units issued in the Offering (other than the Units issued to Andrey Semechkin and Ruslan Semechkin). The Placement Agent Warrants have substantially the same terms as the Series B Warrants, except that the Placement Agent Warrants (i) have an exercise price of $0.15 per Unit, subject to adjustments similar to those applicable to the Series A Warrants, (ii) have a term of five years, (iii) provide for a cashless exercise, and (iv) otherwise comply with the requirements of the Financial Institutions Regulatory Authority, Inc. (FINRA). The Company also agreed to pay the Placement Agent a cash solicitation fee equal to 5% of the gross proceeds received by the Company upon the exercise of the Series B Warrants under certain circumstances. See 2014 Warrant Exchange Agreements below for the detailed discussion of common stock issued in the second quarter of 2014 in exchange for the cancellation of the warrants. | The Company determined that the Series G Preferred have a contingent redemption feature allowing redemption by the holder under only some very limited circumstances (“deemed liquidation events”). As the event that may trigger the redemption of the convertible preferred stock is not solely within the Company’s control, the convertible preferred stock has been classified as mezzanine equity (outside of permanent equity) on the Company’s consolidated balance sheet. Additionally, legal costs related to the Series G Preferred financing in the amount of $59,000 were recorded in the mezzanine equity as well. | |||||||||
The Series A Warrants were immediately exercisable at an exercise price of $0.15 per share and will expire on the fifth anniversary of the initial date of issuance. Upon full exercise of the Series B Warrants, the Company could issue additional Series A Warrants to purchase up to an aggregate of 20,000,000 shares of the Company’s common stock. All Series A Warrants have the same expiration date. See 2014 Warrant Exchange Agreements below for the detailed discussion of common stock issued in the second quarter of 2014 in exchange for the cancellation of the warrants. See Note 9, Stock Options and Warrants, Warrants Issued with Common Stock for detailed discussion of the anti-dilution provisions of the Series A Warrants. | The Company determined, as the initial conversion price at the date of close of the Series G Preferred transaction was lower than the closing market price on March 9, 2012, that a beneficial conversion feature existed in the amount of $1,375,000. Such amount was recorded as a discount on the Series G Preferred stock with a corresponding increase in additional paid-in capital. Based on the appropriate accounting guidance, the Company is required to recognize the discount over the period of time from the issuance of preferred shares until the convertible preferred shares can be first converted. As the Series G Preferred are convertible immediately following their issuance, the discount amount of $1,375,000 was recognized in March 2012 as deemed dividend with a corresponding increase in accumulated deficit. During the first quarter of 2013, the Company issued additional shares of common stock at $0.20 per share, triggering an adjustment in the conversion price of the Series G Preferred to $0.37 per share, and the conversion ratio to 2.67 shares of common stock for every share of Series G Preferred. As a result of the 2013 S-1 July Registered Offering during the third quarter of 2013, the conversion price and the conversion ratio for the Series G Preferred were adjusted to $0.30 per share and 3.28 shares, respectively. During December 2013, the Company issued additional shares of common stock at $0.15 per share, triggering an adjustment in the current conversion price and the conversion ratio for the Series G Preferred to $0.3039 per share and 3.291 shares, respectively. | |||||||||
The Series B Warrants were immediately exercisable at an initial exercise price of $0.15, subject to adjustment and expired on October 24, 2013. | ||||||||||
The net proceeds to the Company from the Offering, after deducting placement agent fees and cash offering expenses borne by the Company, and excluding any proceeds, from the exercise of the warrants issued in the offering, was approximately $2,377,000. The Offering closed on July 24, 2013. | Common Stock Transactions | |||||||||
During the year ended December 31, 2013, the Company received net proceeds of $2,356,000 upon the exercise of 16,754,822 of the Series B Warrants issued in July 2013 for 16,754,822 additional Units, but prior to expiration of the Series B Warrants on October 24, 2013. The total additional Units consisted of 16,754,822 shares of common stock and 16,754,822 Series A Warrants. Of the 16,754,822 Series B Warrants exercised during the year ended December 31, 2013, there were 12,304,822 subject to an adjusted exercise price of $0.1452 per Unit for net proceeds of approximately $1,722,000. The remaining 4,450,000 were exercised prior to the adjustment date at $0.15 per Unit for net proceeds of approximately $634,000. See Note 9, Stock Options and Warrants, Warrants Issued with Common Stock for detailed discussion of the price adjustment provisions of the Series B Warrants. | Aspire Common Stock Purchase Agreement | |||||||||
Of the Series B Warrants exercised, Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer, exercised 2,754,821 Series B Warrants; and Ruslan Semechkin, the Company’s Chief Scientific Officer, exercised 667,667 Series B Warrants for an aggregate price of $497,000. | On December 9, 2010, Company entered into a common stock purchase agreement (the “Purchase Agreement”) with Aspire Capital Fund, LLC (“Aspire Capital”), which provided that, subject to certain conditions and limitations, Aspire Capital was committed to purchase up to an aggregate of $25,000,000 of common stock over the term of the Purchase Agreement. The Purchase Agreement expired in December 2013. | |||||||||
In addition, during the year ended December 31, 2013, the Company received net proceeds of $30,000 upon the exercise of 200,000 of the Series A Warrants issued in July 2013 for 200,000 shares of common stock at an exercise price of $0.15 per share. | In connection with the execution of the Purchase Agreement, the Company sold Aspire 333,333 shares of common stock for a total of $500,000. Under the Purchase Agreement, the Company also agreed to pay Aspire Capital a commitment fee of 500,000 shares of its common stock. The Company was not obligated to pay any additional expense reimbursement or any placement agent fees in connection with the transaction. On any day on which the principal market for shares of the Company’s common stock is open for trading, over the three-year term of the Purchase Agreement, the Company had the right, in its sole discretion, to provide Aspire Capital with a purchase notice (each, a “Purchase Notice”) directing Aspire Capital to purchase the number of shares of common stock specified in the Purchase Notice. The number of shares the Company could designate in the Purchase Notice varied based on the closing price of the common stock on the date of the Purchase Notice. The purchase price per share for each Purchase Notice was the lower of (i) the lowest sale price for the common stock on the date of sale or (ii) the arithmetic average of the three lowest closing sale prices for the common stock during the 12 consecutive business days ending on the business day immediately preceding the purchase date of those securities. | |||||||||
On October 24, 2013, the remaining 3,245,178 Series B Warrants expired unexercised. At September 30, 2014, there were no Series A and Placement Agent warrants outstanding. See 2014 Warrant Exchange Agreements below for the detailed discussion of common stock issued in the second quarter of 2014 in exchange for the cancellation of the warrants. At December 31, 2013, total Series A and Placement Agent warrants outstanding were 36,554,822 and 666,666, respectively, which the Company had reserved 37,888,154 shares of common stock for future issuance. | During the years ended December 31, 2013 and 2012, the Company issued 1,200,000 and 5,000,000 shares of common stock, respectively, to Aspire Capital, raising $264,000 and $2,084,000, respectively, which was used to fund its research and operational activities. | |||||||||
2014 Securities Purchase Agreements for Common Stock | 2013 Securities Purchase Agreements for Common Stock | |||||||||
On May 29, 2014, to obtain funding for working capital purposes, the Company entered into a securities purchase agreement with Dr. Andrey Semechkin and Dr. Ruslan Semechkin to sell a total of 3,333,333 shares of common stock at a price of $0.15 per share, for a total purchase price of $500,000. On June 26, 2014, to obtain funding for working capital purposes, the Company entered into a securities purchase agreement with Dr. Andrey Semechkin and Dr. Ruslan Semechkin to sell a total of 5,500,000 shares of common stock at a price of $0.10 per share, for a total purchase price of $550,000. Dr. Andrey Semechkin is the Company’s Co-Chairman and Chief Executive Officer. Dr. Ruslan Semechkin is the Company’s Chief Scientific Officer and director. On August 6, 2014, to obtain funding for working capital purposes, the Company entered into a securities purchase agreement with Dr. Andrey Semechkin and Dr. Ruslan Semechkin to sell a total of 6,000,000 shares of common stock at a price of $0.10 per share, for a total purchase price of $600,000. On September 10, 2014, to obtain funding for working capital purposes, the Company entered into a securities purchase agreement with Dr. Andrey Semechkin and Dr. Ruslan Semechkin to sell a total of 4,444,445 shares of common stock at a price of $0.09 per share, for a total purchase price of $400,000. | On January 22, 2013, to obtain funding for working capital purposes, the Company entered into a Securities Purchase Agreement (the “January 2013 Purchase Agreement”) with Dr. Andrey Semechkin and Dr. Simon Craw to sell a total of 10,125,000 shares of common stock at a price of $0.20 per share, for a total purchase price of $2,025,000. Dr. Andrey Semechkin is the Company’s Co-Chairman and Chief Executive Officer. Dr. Simon Craw is the Company’s Executive Vice President Business Development. The sale of the shares of common stock was completed on January 22, 2013. In connection with the sale of these shares the Company issued to each purchaser a warrant, exercisable for a period of 5 years, to purchase a number of shares of common stock equal to 50% of the shares purchased by that purchaser, for a total of 5,062,500 shares subject to the warrants at an exercise price of $0.20 per share. | |||||||||
2014 Warrant Exchange Agreements | On March 12, 2013, to obtain funding for working capital purposes, the Company entered into a Securities Purchase Agreement (the “March 2013 Purchase Agreement”) with certain investors, including Dr. Andrey Semechkin, to sell a total of 5,000,000 shares of common stock at a price of $0.20 per share, for a total purchase price of $1,000,000. Dr. Andrey Semechkin is the Company’s Co-Chairman and Chief Executive Officer and purchased $100,000 worth of common stock. Each of the other investors has had a long-standing relationship with the Company and has closely followed the Company. The sale of the shares of common stock was completed on March 12, 2013. In connection with the sale of these shares the Company issued to each investor a warrant, exercisable for a period of five years, to purchase a number of shares of common stock equal to 50% of the shares purchased by that investor, for a total of 2,500,000 shares subject to the warrants at an exercise price of $0.20 per share. | |||||||||
On June 11, 2014, the Company entered into a series of warrant exchange agreements (the “Warrant Exchange Agreements”) with the holders of its Series A Warrants and Placement Agent Warrants that were issued by the Company pursuant to the 2013 S-1 July Registered Offering. Under the Warrant Exchange Agreements, the Company agreed to issue a total of 44,665,783 shares of common stock (the “Exchange Shares”) to the warrant holders in exchange for the cancellation of the Series A Warrants to purchase 36,554,822 shares of common stock and the Placement Agent Warrants to purchase 666,666 shares of common stock and Series A Warrants. Dr. Andrey Semechkin and Dr. Ruslan Semechkin, the Company’s Co-Chairman and Chief Executive Officer and Chief Scientific Officer and director, respectively, participated on the same terms as the other warrant holders, agreeing to exchange Series A Warrants to purchase 10,088,154 shares of common stock for 12,105,784 shares of common stock. The closing of the transaction occurred on June 16, 2014 with the issuance of the Exchange Shares. Upon settlement of the exchange transaction, there were no remaining Series A Warrants or Placement Agent Warrants outstanding. See Note 9, Stock Options and Warrants, 2014 Warrants Exchange Agreements- for detailed discussion of the accounting treatment of the Warrant Exchange transaction. | 2013 S-1 July Registered Offering | |||||||||
As part of the Warrant Exchange Agreement, the Company agreed that through September 14, 2014 it would not offer, sell, pledge, contract to sell or otherwise dispose of any equity securities or securities convertible, exercisable or exchangeable into equity securities of the Company, except for the issuance of equity awards pursuant to the Company’s employee benefit plans and employee incentive plans, the issuance of common stock pursuant to the valid exercise of options or warrants or upon exercise of conversion rights with respect to convertible securities outstanding on the date of the Warrant Exchange, and the issuance and sale of equity securities in private placements to directors or officers of the Company. | On July 19, 2013, to obtain funding for working capital purposes, the Company entered into subscription agreements with certain investors (the “Investors”) relating to the sale by the Company of (i) 20,000,000 units (each a “Unit”, and collectively, the “Units”), with each Unit consisting of (x) one share of common stock, par value $0.001 per share, and (y) one Series A Warrant to purchase one share of the Company’s common stock at an exercise price of $0.15 per share and (ii) 20,000,000 Series B Warrants, each to purchase one Unit, for aggregate gross proceeds of $3,000,000, before placement agent fees and other estimated offering expenses and fees (the “Offering”). The Units were not issued or certificated. The Investors received only shares of common stock, Series A Warrants and Series B Warrants. The common stock, the Series A Warrants and the Series B Warrants were and may be transferred separately immediately after their issuance. Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer, purchased 5,998,999 Units and 5,998,999 Series B Warrants in the Offering; and Ruslan Semechkin, the Company’s Chief Scientific Officer, purchased 667,667 Units and 667,667 Series B Warrants in the Offering for an aggregate price of $1,000,000. | |||||||||
2013 Lincoln Park Capital Fund, LLC Stock Purchase Agreement | ||||||||||
On December 10, 2013, the Company entered into the Purchase Agreement with Lincoln Park, pursuant to which Lincoln Park has agreed to purchase up to an aggregate of $10,250,000 of common stock (subject to certain limitations) from time to time through January 2017. Of the aggregate $10,250,000 of common stock that may be sold to Lincoln Park, on December 11, 2013, the Company sold 1,666,666 shares of common stock to Lincoln Park for an aggregate purchase price of $250,000 pursuant to the Purchase Agreement, which is referred to as the Initial Purchase. Upon execution of the Purchase Agreement, the Company paid to Lincoln Park $155,000, as a cash fee, for their commitment to purchase additional shares of common stock under the Purchase Agreement. | On July 19, 2013, the Company also entered into a placement agent agreement (the “Placement Agent Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to act on a reasonable best efforts basis for the Offering. The Company paid the Placement Agent a cash fee equal to 5% of the gross proceeds from the Offering and reimbursed the Placement Agent for its reasonable out-of-pocket expenses of $75,000. The Company also issued 666,666 Placement Agent Warrants to purchase Units equal to 5% of the aggregate number of Units issued in the Offering (other than the Units issued to Andrey Semechkin and Ruslan Semechkin). The Placement Agent Warrants have substantially the same terms as the Series B Warrants, except that the Placement Agent Warrants (i) have an exercise price of $0.15 per Unit, subject to adjustments similar to those applicable to the Series A Warrants, (ii) have a term of five years, (iii) provide for a cashless exercise, and (iv) otherwise comply with the requirements of the Financial Institutions Regulatory Authority, Inc. (FINRA). The Company also agreed to pay the Placement Agent a cash solicitation fee equal to 5% of the gross proceeds received by the Company upon the exercise of the Series B Warrants under certain circumstances. | |||||||||
Also on December 10, 2013, the Company entered into a Registration Rights Agreement with Lincoln Park, pursuant to which the Company filed with the SEC an S-1 Registration Statement to register for resale under the Securities Act of 1933, as amended, or the Securities Act, the shares that have been or may be issued to Lincoln Park under the Purchase Agreement. The S-1 Registration Statement filed with the Securities and Exchange Commission in December 2013 and amended in January 2014 was declared effective on January 13, 2014. | The Series A Warrants were immediately exercisable at an exercise price of $0.15 per share and will expire on the fifth anniversary of the initial date of issuance. Upon full exercise of the Series B Warrants, the Company could issue additional Series A Warrants to purchase up to an aggregate of 20,000,000 shares of the Company’s common stock. All Series A Warrants have the same expiration date. See Note 9, Stock Options and Warrants, Warrants Issued with Common Stock for detailed discussion of the anti-dilution provisions of the Series A Warrants. | |||||||||
During the three and nine months ended September 30, 2014, the Company sold 0 and 8,200,000 shares, respectively, to Lincoln Park raising approximately $0 and $1,588,000, respectively, for working capital purposes. From commencement through to September 30, 2014, the Company has sold a total of 9,866,666 shares of common stock to Lincoln Park for an aggregate of $1,838,000 under the Agreement. As of September 30, 2014, there remained 10,133,334 shares available for sale up to a total of $8,412,000 under the Purchase Agreement with Lincoln Park. | The Series B Warrants were immediately exercisable at an initial exercise price of $0.15, subject to adjustment and expired on October 24, 2013. | |||||||||
The Company may, from time to time and in its sole discretion, direct Lincoln Park to purchase shares of common stock in amounts up to 200,000 shares on any single business day so long as at least one business day has passed since the most recent purchase, which amounts may be increased to up to 300,000 shares and up to 400,000 shares, provided the closing price of the common stock exceeds a certain threshold, with a maximum limit of up to $500,000 per purchase, plus an additional “accelerated amount” under certain circumstances. There are no trading volume requirements or restrictions under the Purchase Agreement, and the Company will control the timing and amount of any sales of common stock to Lincoln Park. The purchase price of the shares that may be sold to Lincoln Park under the Purchase Agreement will be based on the market price of the common stock immediately preceding the time of sale as computed under the Purchase Agreement without any fixed discount; provided that in no event will such shares be sold to Lincoln Park when the closing sale price is less than $0.05 per share, subject to adjustment as provided in the Purchase Agreement. | The net proceeds to the Company from the Offering, after deducting placement agent fees and cash offering expenses borne by the Company, and excluding any proceeds, from the exercise of the warrants issued in the offering, was approximately $2,377,000. The Offering closed on July 24, 2013. | |||||||||
The purchase price per share will be equitably adjusted for any reorganization, recapitalization, non-cash dividend, stock split, or other similar transaction occurring during the business days used to compute such price. The Company may at any time in its sole discretion terminate the Purchase Agreement without fee, penalty or cost upon one business day notice. Lincoln Park may not assign or transfer its rights and obligations under the Purchase Agreement. | During the year ended December 31, 2013, the Company received net proceeds of $2,356,000 upon the exercise of 16,754,822 of the Series B Warrants issued in July 2013 for 16,754,822 additional Units, but prior to the expiration of the Series B Warrants on October 24, 2013. The total additional Units consisted of 16,754,822 shares of common stock and 16,754,822 Series A Warrants. Of the 16,754,822 Series B Warrants exercised during the year ended December 31, 2013, there were 12,304,822 subject to an adjusted exercise price of $0.1452 per Unit for net proceeds of approximately $1,722,000. The remaining 4,450,000 were exercised prior to the adjustment date at $0.15 per Unit for net proceeds of approximately $634,000. See Note 9, Stock Options and Warrants, Warrants Issued with Common Stock for detailed discussion of the price adjustment provisions of the Series B Warrants. | |||||||||
Pursuant to the terms of a securities purchase agreement entered into with investors in connection with a private placement effected October 14, 2014, the Company may not sell shares to Lincoln Park under the Purchase Agreement with Lincoln Park until March 2016. See Note 12, Subsequent Event. | Of the Series B Warrants exercised, Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer, exercised 2,754,821 Series B Warrants; and Ruslan Semechkin, the Company’s Chief Scientific Officer, exercised 667,667 Series B Warrants for an aggregate price of $497,000. | |||||||||
Aspire Common Stock Purchase Agreement | In addition, during the year ended December 31, 2013, the Company received net proceeds of $30,000 upon the exercise of 200,000 of the Series A Warrants issued in July 2013 for 200,000 shares of common stock at an exercise price of $0.15 per share. | |||||||||
On December 9, 2010, Company entered into a common stock purchase agreement (the “Purchase Agreement”) with Aspire Capital Fund, LLC (“Aspire Capital”), which provided that, subject to certain conditions and limitations, Aspire Capital was committed to purchase up to an aggregate of $25,000,000 of common stock over the term of the Purchase Agreement. The Purchase Agreement expired in December 2013. | On October 24, 2013, the remaining 3,245,178 Series B Warrants expired unexercised. At December 31, 2013, total Series A and Placement Agent warrants outstanding were 36,554,822 and 666,666, respectively, which the Company has reserved 37,888,154 shares of common stock for future issuance. | |||||||||
On any day on which the principal market for shares of the Company’s common stock is open for trading, over the three-year term of the Purchase Agreement, the Company had the right, in its sole discretion, to provide Aspire Capital with a purchase notice (each, a “Purchase Notice”) directing Aspire Capital to purchase the number of shares of common stock specified in the Purchase Notice. The number of shares the Company could designate in the Purchase Notice varied based on the closing price of the common stock on the date of the Purchase Notice. The purchase price per share for each Purchase Notice was the lower of (i) the lowest sale price for the common stock on the date of sale or (ii) the arithmetic average of the three lowest closing sale prices for the common stock during the 12 consecutive business days ending on the business day immediately preceding the purchase date of those securities. | The Company accounts for the warrants in accordance with current accounting guidance, which defines how freestanding contracts that are indexed to and potentially settled in a Company’s own stock should be measured and classified. The authoritative accounting guidance prescribes that only warrants issued under contracts that cannot be net-cash settled and are both indexed to and settled in the Company’s common stock can be classified as equity. As the Series A Warrant, Series B Warrant, and Placement Agent Warrant agreements did not meet the specific conditions for equity classification, the Company is required to classify the fair value of the warrants issued as a liability, with subsequent changes in fair value to be recorded as income (loss) in the statement of operations upon revaluation of the fair value of warrant liability at each reporting period. Valuation of the Warrants was estimated at issuance on July 24, 2013, at the various warrant exercise dates, on October 24, 2013, the expiration date of the Series B Warrants, and at December 31, 2013 using the Monte-Carlo simulation model. The fair value is affected by changes in inputs to the model. The following assumptions were used as inputs to the model at December 31, 2013: stock price of $0.21 and warrant exercise price of $0.15 as of the valuation date; the Company’s historical stock price volatility of 84.3%; risk free interest rate on U.S. treasury notes of 1.55%; warrant expiration of 4.56 years; and a zero dividend rate for the Series A Warrants and the Placement Agent Warrants; simulated as a daily interval and anti-dilution impact if the Company had to raise capital below $0.15 per share. | |||||||||
During the three months and nine months ended September 30, 2013, the Company issued 0 and 1,200,000 shares of common stock, respectively, to Aspire Capital, raising $0 and $264,000, respectively, which was used to fund its research and operational activities. | ||||||||||
Reserved Shares | The fair value of the warrant liability at the issuance date exceeded the gross proceeds received for the common shares, Series A Warrants and the Series B Warrants by $1,390,000. The Series A Warrants, Series B Warrants, and Placement Agent Warrants had fair values of $1,725,000, $2,645,000 and $115,000 at issuance, respectively. The classification and valuation of the warrants resulted in total warrant liability of $4,485,000 and $4,925,000 as of the issuance date of July 24, 2013 and the revaluation date of December 31, 2013, respectively. During the year ended December 31, 2013, the Company recorded a net change in fair value of warrant liability expense of $754,000, in the Consolidated Statements of Operations related to the change in fair value due to the revaluation at December 31, 2013, the change in fair value of the Series A and B Warrants at each exercise date, and for the 3,245,178 Series B Warrants, which expired unexercised on October 24, 2013. As a result of the fair value of the warrant liability at issuance exceeding the total gross proceeds received, the transaction financing costs of $738,000 were recognized as additional other expense. As a result of these three line items on the Consolidated Statements of Operations, the Company recognized a net effect to other expense of $2,882,000 related to the 2013 S-1 July Registered Offering for the year ended December 31, 2013. | |||||||||
At September 30, 2014, the Company had shares of common stock reserved for future issuance as follows: | 2013 Lincoln Park Capital Fund, LLC Stock Purchase Agreement | |||||||||
On December 10, 2013, the Company entered into a stock Purchase Agreement with Lincoln Park, pursuant to which Lincoln Park has agreed to purchase up to an aggregate of $10,250,000 of common stock (subject to certain limitations) from time to time through January 2017. Of the aggregate $10,250,000 of common stock that may be sold to Lincoln Park, on December 11, 2013, the Company sold 1,666,666 shares of common stock to Lincoln Park for an aggregate purchase price of $250,000 pursuant to the Purchase Agreement, which is referred to as the Initial Purchase. Upon execution of the Purchase Agreement, the Company paid to Lincoln Park $155,000, as a cash fee, for their commitment to purchase additional shares of common stock under the Purchase Agreement. The Company does not have the right to commence any sales to Lincoln Park under the Purchase Agreement until the SEC has declared effective the registration statement. | ||||||||||
Also on December 10, 2013, the Company entered into a Registration Rights Agreement with Lincoln Park, pursuant to which the Company filed with the SEC an S-1 Registration Statement to register for resale under the Securities Act of 1933, as amended, or the Securities Act, the shares that have been or may be issued to Lincoln Park under the Purchase Agreement. | ||||||||||
Options outstanding | 27,142,210 | Subsequent to December 31, 2013, the S-1 Registration Statement filed with the Securities and Exchange Commission in December 2013 and amended in January 2014 went effective on January 13, 2014. Subsequent to December 31, 2013, from January 15, 2014 through March 10, 2014, the Company sold an additional 3,800,000 shares to Lincoln Park for an aggregate of approximately $817,000. See Note 12, Subsequent Events for further details. | ||||||||
Options available for future grant | 8,423,574 | Other than the Initial Purchase, the Company does not have the right to commence any additional sales of common stock to Lincoln Park under the Purchase Agreement until the SEC has declared effective the registration statement. See Note 12, Subsequent Events for details of the transaction subsequent to December 31, 2013. Thereafter, the Company may, from time to time and in its sole discretion, direct Lincoln Park to purchase shares of common stock in amounts up to 200,000 shares on any single business day so long as at least one business day has passed since the most recent purchase, which amounts may be increased to up to 300,000 shares and up to 400,000 shares, provided the closing price of the common stock exceeds a certain threshold, with a maximum limit of up to $500,000 per purchase, plus an additional “accelerated amount” under certain circumstances. There are no trading volume requirements or restrictions under the Purchase Agreement, and the Company will control the timing and amount of any sales of common stock to Lincoln Park. The purchase price of the shares that may be sold to Lincoln Park under the Purchase Agreement will be based on the market price of the common stock immediately preceding the time of sale as computed under the Purchase Agreement without any fixed discount; provided that in no event will such shares be sold to Lincoln Park when the closing sale price is less than $0.05 per share, subject to adjustment as provided in the Purchase Agreement. | ||||||||
Convertible preferred stock | 89,012,588 | The purchase price per share will be equitably adjusted for any reorganization, recapitalization, non-cash dividend, stock split, or other similar transaction occurring during the business days used to compute such price. The Company may at any time in its sole discretion terminate the Purchase Agreement without fee, penalty or cost upon one business day notice. Lincoln Park may not assign or transfer its rights and obligations under the Purchase Agreement. | ||||||||
Warrants | 7,762,500 | |||||||||
Reserved Shares | ||||||||||
132,340,872 | At December 31, 2013, the Company had shares of common stock reserved for future issuance as follows: | |||||||||
Options outstanding | 23,637,693 | |||||||||
Options available for future grant | 12,793,550 | |||||||||
Convertible preferred stock | 47,187,929 | |||||||||
Warrants | 45,650,654 | |||||||||
129,269,826 | ||||||||||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' | ' |
Related Party Transactions | ' | ' |
7. Related Party Transactions | 7. Related Party Transactions | |
Other than with respect to the purchases of Series C Preferred, Series D Preferred, Series G Preferred, and common stock transactions discussed above, the Company’s related party transactions were for a facility lease. | Other than with respect to the purchases of Series C Preferred, Series D Preferred, Series G Preferred, and common stock discussed above, the Company’s related party transactions were for related party dividends and for a facility lease. | |
During the first quarter of 2011, the Company executed an operating lease for its corporate offices with S Real Estate Holdings LLC. S Real Estate Holdings LLC is owned by Dr. Ruslan Semechkin, the Company’s Chief Scientific Officer and a director and was previously owned by Dr. Andrey Semechkin, the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors. The lease agreement was negotiated at arm’s length and was reviewed by the Company’s outside legal counsel. The terms of the lease were reviewed by a committee of independent directors, and the Company believes that, in total, those terms are at least as favorable to the Company as could be obtained for comparable facilities from an unaffiliated party. For the three months ended September 30, 2014 and 2013, the Company recorded $41,000 and $39,000, respectively, in rent expense that was related to the facility lease arrangement with related parties. Additionally, during the nine months ended September 30, 2014 and 2013, the Company recorded $122,000 and $118,000, respectively, related to the same arrangement with the related party. | On October 12, 2012, the Company and the holders of all of the outstanding shares of Series D Preferred and Series G Preferred entered into the Waiver Agreement pursuant to which such holders irrevocably waived their right to receive any and all accrued but unpaid dividends and interest thereon on or after September 30, 2012 on the Series D Preferred and Series G Preferred. Accordingly, the Company reversed all previously accreted and recorded dividends related to Series G Preferred totaling $93,000. Under the Waiver Agreement, the holders of Series D Preferred and Series G Preferred are restricted from transferring any shares of Series D Preferred and Series G Preferred unless the transferee agrees to be bound by the Waiver Agreement. Therefore, dividend amounts related to Series D Preferred and Series G Preferred, were $0 at December 31, 2013 and 2012 and would have been payable to X-Master, Inc. and AR Partners LLC, entities affiliated with the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors, Dr. Andrey Semechkin and Dr. Ruslan Semechkin, Chief Scientific Officer and a director. The Series D Preferred dividends were payable to both X-Master, Inc. and the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors, Dr. Andrey Semechkin, while Series G Preferred dividends were initially cumulative and payable upon conversion of the Series G Preferred or upon certain Series G Preferred deemed liquidation events to AR Partners, LLC. | |
During the first quarter of 2011, the Company executed an operating lease for its corporate offices with S Real Estate Holdings LLC. S Real Estate Holdings LLC is owned by Dr. Ruslan Semechkin, the Company’s Chief Scientific Officer and a director and was previously owned by Dr. Andrey Semechkin, the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors. The lease agreement was negotiated at arm’s length and was reviewed by the Company’s outside legal counsel. The terms of the lease were reviewed by a committee of independent directors, and the Company believes that, in total, those terms are at least as favorable to the Company as could be obtained for comparable facilities from an unaffiliated party. For the years ended December 31, 2013 and 2012, the Company recorded $137,000 and $113,000, respectively, in rent expense that was related to the facility lease arrangement with related parties. |
Income_Taxes
Income Taxes | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ' | ||||||||
Income Taxes | ' | ' | ||||||||
8. Income Taxes | 8. Income Taxes | |||||||||
The Company estimated Federal and state tax losses for the current year and recorded a full valuation allowance against all net deferred tax assets. As such, no income tax provision has been recorded for the current period. The Company may be subject to IRC Code Sections 382 and 383, which could limit the amount of the net operating loss and tax credit carryovers that can be used in future years. The Company has not completed a study to assess whether an ownership change has occurred, as defined by IRC Code Sections 382 and 383, or whether there have been ownership changes since the Company’s formation due to the complexity and cost associated with such a study, and the fact that there may be additional such ownership changes in the future. The Company estimates that if such a change did occur, the federal and state net operating loss carryforwards and research and development credit carryforwards that can be utilized in the future will be significantly limited. There can be no assurances that the Company will ever be able to realize the benefit of some or all of the federal and state loss carryforwards or the credit carryforwards, either due to ongoing operating losses or due to ownership changes, which limit the usefulness of the carryforwards. | The Company accounts for income taxes in accordance with applicable authoritative guidance, which requires the Company to provide a net deferred tax asset/liability equal to the expected future tax benefit/expense of temporary reporting differences between book and tax accounting methods and any available operating loss or tax credit carryforwards. The Company has available at December 31, 2013, operating loss carryforwards of approximately $48,913,000, which may be applied against future taxable income and will expire in various years through 2033. At December 31, 2012, the Company had operating loss carryforwards of approximately $43,754,000. The increase in carryforwards for the year ended December 31, 2013 is approximately $5,159,000. | |||||||||
The amount of and ultimate realization of the benefits from the operating loss carryforwards for income tax purposes is dependent, in part, upon the tax laws in effect, the future earnings of the Company, and other future events, the effects of which cannot be determined at this time. Because of the uncertainty surrounding the realization of the loss carryforwards, the Company has established a valuation allowance equal to the tax effect of the loss carryforwards, R&D credits, and accruals; therefore, no net deferred tax asset has been recognized. A reconciliation of the statutory Federal income tax rate and the effective income tax rate for the year ended December 31, 2013 and 2012 follows: | ||||||||||
December 31, | December 31, | |||||||||
2013 | 2012 | |||||||||
Statutory federal income tax rate | 35 | % | 35 | % | ||||||
Permanent items | (12 | )% | (8 | )% | ||||||
State income taxes, net of federal taxes | 4 | % | 4 | % | ||||||
Change in valuation allowance | (30 | )% | (30 | )% | ||||||
Tax credits claimed | 2 | % | 1 | % | ||||||
Other | 1 | % | (2 | )% | ||||||
Effective income tax rate | 0 | % | 0 | % | ||||||
The Company files income tax returns in the U.S. federal jurisdiction and various states. With few exceptions, the Company is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for years before 2008. The Company does not have any material uncertain tax positions as of December 31, 2013 and 2012. The Company does not believe it is reasonably possible that the total amount of unrecognized tax benefits as of December 31, 2013 will materially change in the next 12 months. | ||||||||||
The Company may be subject to IRC Code Sections 382 and 383, which could limit the amount of the net operating loss and tax credit carryovers that can be used in future years. The Company has not completed a study to assess whether an ownership change has occurred, as defined by IRC Code Sections 382 and 383, or whether there have been ownership changes since the Company’s formation due to the complexity and cost associated with such a study, and the fact that there may be additional such ownership changes in the future. The Company estimates that if such a change did occur, the federal and state net operating loss carryforwards and research and development credit carryforwards that can be utilized in the future will be significantly limited. There can be no assurance that the Company will ever be able to realize the benefit of some or all of the federal and state loss carryforwards or the credit carryforwards, either due to ongoing operating losses or due to ownership changes, which limit the usefulness of the loss carryforwards. | ||||||||||
Significant components of deferred tax assets and liabilities are as follows (in thousands): | ||||||||||
December 31, | December 31, | |||||||||
2013 | 2012 | |||||||||
Deferred tax assets (liabilities) | ||||||||||
Current deferred tax assets (liabilities) | $ | 298 | $ | 120 | ||||||
Deferred revenues | — | — | ||||||||
Current deferred tax assets | 298 | 120 | ||||||||
Valuation allowances | (298 | ) | (120 | ) | ||||||
Net current deferred tax assets | $ | — | $ | — | ||||||
Net operating loss carryforwards | 19,224 | 17,150 | ||||||||
Stock based compensation | 2,987 | 2,532 | ||||||||
Research and development tax credit | 1,627 | 1,206 | ||||||||
Other | 51 | 10 | ||||||||
Non-current deferred tax assets | 23,889 | 20,898 | ||||||||
Valuation allowances | (23,884 | ) | (20,882 | ) | ||||||
Net non-current deferred tax assets | 5 | 16 | ||||||||
Non-current deferred tax liabilities | (5 | ) | (16 | ) | ||||||
Net deferred tax assets | $ | — | $ | — | ||||||
The components of the provision for income taxes were as follows: | ||||||||||
December 31, | December 31, | |||||||||
2013 | 2012 | |||||||||
Current | $ | — | $ | — | ||||||
Deferred | — | — | ||||||||
Total | $ | — | $ | — | ||||||
Stock_Options_and_Warrants
Stock Options and Warrants | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Options and Warrants | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9. Stock Options and Warrants | 9. Stock Options and Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Options | Stock Options | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company adopted the 2006 Equity Participation Plan (the “2006 Plan”), which provides for the grant of stock options, restricted stock and other equity based awards. Awards for up to 15,000,000 shares may be granted to employees, directors and consultants under this Plan. The options granted under the 2006 Plan may be either qualified or non-qualified options. Options may be granted with different vesting terms and expire no later than 10 years from the date of grant. | The Company has adopted the 2006 Equity Participation Plan (the “2006 Plan”). The options granted under the 2006 Plan may be either qualified or non-qualified options. Up to 15,000,000 options may be granted to employees, directors and consultants under this Plan. Options may be granted with different vesting terms and expire no later than 10 years from the date of grant. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In April 2010, the Company adopted the 2010 Equity Participation Plan (the “2010 Plan”), which provides for the grant of stock options, restricted stock and other equity based awards. Awards for up to 18,000,000 shares may be granted to employees, directors and consultants under the 2010 Plan. The options granted under the 2010 Plan may be either qualified or non-qualified options. Options may be granted with different vesting terms and expire no later than 10 years from the date of grant. | In April 2010, the Company adopted the 2010 Equity Participation Plan (the “2010 Plan”). The options granted under the 2010 Plan may be either qualified or non-qualified options. Up to 18,000,000 options may be granted to employees, directors and consultants under the 2010 Plan. Options may be granted with different vesting terms and expire no later than 10 years from the date of grant. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In November and December of 2009, the Company issued non-qualified stock options to purchase 10,257,593 shares of common stock outside the 2006 and 2010 option plans to certain employees and consultants. These options vest over 50 months and expire no later than 10 years from the date of grant. | In November and December of 2009, the Company issued outside the 2006 and 2010 Plans non-qualified stock options to purchase 10,257,593 shares of common stock to certain employees and consultants. These options vest over 50 months and expire no later than 10 years from the date of grant. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total stock-based compensation expense for the three and nine months ended September 30, 2014 and 2013 was comprised of the following (in thousands): | In accordance applicable authoritative guidance, the Company is required to establish assumptions and estimates of the weighted-average fair value of stock options granted, as well as using a valuation model to calculate the fair value of stock-based awards. The Company uses the Black-Scholes option-pricing model to determine the fair-value of stock-based awards. All options are amortized over the requisite service periods. During the years ended December 31, 2013 and 2012, the Company recognized $1,693,000 and $2,361,000, as stock-based compensation expense, respectively. Unrecognized compensation expense related to stock options as of December 31, 2013 and 2012 was $1,864,000 and $3,367,000, respectively, which is expected to be recognized over a weighted average period of approximately 1.6 years and 2.2 years, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation for stock options granted to non-employees has been determined using the estimated fair value of the stock options issued, based on the Black-Scholes Option Pricing Model. These options are revalued at each reporting period until fully vested, with any change in fair value recognized in the consolidated statements of operations. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of options granted is estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions for the years ended December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | Year ended | Year ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | $ | 15 | $ | — | $ | 45 | $ | — | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Research and development | 78 | 94 | 221 | 272 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Selling and marketing | 13 | 10 | 36 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative | 384 | 337 | 910 | 989 | Significant assumptions (weighted-average): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate at grant date | 1.02 | % | 0.94 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 490 | $ | 441 | $ | 1,212 | $ | 1,291 | Expected stock price volatility | 116.53 | % | 121.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend payout | 0 | % | 0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrecognized compensation expense related to stock options as of September 30, 2014 was $1,144,000, which is expected to be recognized over a weighted average period of approximately 1.80 years. | Expected option life-years based on management’s estimate | 6.08 years | 5.69 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In accordance with applicable authoritative guidance, the Company is required to establish assumptions and estimates of the weighted-average fair value of stock options granted, as well as use a valuation model to calculate the fair value of stock-based awards. The Company uses the Black-Scholes option-pricing model to determine the fair-value of stock-based awards. All options are amortized over the requisite service periods. Stock-based compensation for stock options granted to non-employees has been determined using the Black-Scholes option pricing model. These options are revalued at each reporting period until fully vested, with any change in fair value recognized in the consolidated statements of operations. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of options granted is estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions for the three and nine months ended September 30, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options Outstanding | Options Exercisable and vested | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Prices | Number Outstanding | Weighted Average | Weighted Average | Number | Weighted Average | Weighted Average | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | Remaining | Exercise Price | Exercisable | Remaining | Exercise Price | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | Contractual Life | Contractual Life | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | (Years) | (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant assumptions (weighted average): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate at grant date | 2 | % | 0 | % | 1.91 | % | 0.95 | % | $0.18-$0.50 | 5,265,300 | 7.1 | $ | 0.37 | 2,727,860 | 5.44 | $ | 0.42 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected stock price volatility | 98.23 | % | 0 | % | 99.65 | % | 118.34 | % | $0.51-$0.75 | 9,258,093 | 5.93 | $ | 0.62 | 8,898,143 | 5.9 | $ | 0.62 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend payout | 0 | % | 0 | % | 0 | % | 0 | % | $0.76-$1.00 | 1,817,000 | 3.33 | $ | 0.99 | 1,794,000 | 3.28 | $ | 0.99 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected option life based on management’s estimate | 6.1 yrs | 0.0 yrs | 6.1 yrs | 6.1 yrs | $1.01-$1.58 | 1,967,300 | 6.32 | $ | 1.35 | 1,702,400 | 6.26 | $ | 1.36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions involving stock options issued to employees, directors and consultants under the 2006 Plan, the 2010 Plan and outside the plans are summarized below. Options issued have a maximum life of 10 years. The following tables summarize the changes in options outstanding and the related exercise prices for the Company’s common stock options issued: | $1.59-$3.20 | 5,330,000 | 6.9 | $ | 1.97 | 3,836,000 | 6.84 | $ | 1.99 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Weighted | 23,637,693 | 6.24 | $ | 0.96 | 18,958,403 | 5.81 | $ | 0.97 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options Issued | Weighted | Average | Aggregate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Under | Average Exercise | Remaining | Intrinsic | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2006 Plan and | Price Per | Contractual | Value | Transactions involving stock options issued to employees, directors and consultants under the 2006 Plan, the 2010 Plan and outside the plans are summarized below. Options issued have a maximum life of 10 years. The following table summarizes the changes in options outstanding and the related exercise prices for the Company’s common stock options issued: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2010 Plan | Share | Term | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 15,122,900 | $ | 1.18 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 1,491,500 | $ | 0.26 | Number of | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | Shares issued | Average Exercise | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | (586,000 | ) | $ | 0.61 | under | Price Per | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2006 Plan and | Share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 16,028,400 | $ | 1.12 | 2010 Plan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 4,304,000 | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | Outstanding at December 31, 2011 | 14,730,207 | $ | 1.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | (799,483 | ) | $ | 0.53 | Granted | 2,398,000 | $ | 0.38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | (17,500 | ) | $ | 0.22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at September 30, 2014 | 19,532,917 | $ | 0.93 | 6.47 years | $ | — | Canceled or expired | (1,987,807 | ) | $ | 0.78 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested and expected to vest at September 30, 2014 | 18,665,045 | $ | 0.97 | 6.33 years | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 15,122,900 | $ | 1.18 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable at September 30, 2014 | 13,160,744 | $ | 1.2 | 5.29 years | $ | — | Granted | 1,491,500 | $ | 0.26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | (586,000 | ) | $ | 0.61 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Weighted | Average | Aggregate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options Issued | Average Exercise | Remaining | Intrinsic | Outstanding at December 31, 2013 | 16,028,400 | $ | 1.12 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outside | Price Per | Contractual | Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
the Plan | Share | Term | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 8,254,232 | $ | 0.65 | Number of | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | — | $ | — | Shares issued | Average Exercise | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | outside | Price Per | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | (644,939 | ) | $ | 1 | the Plan | Share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 7,609,293 | $ | 0.62 | Outstanding at December 31, 2011 | 8,254,232 | $ | 0.65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | — | $ | — | Granted | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | Exercised | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | — | $ | — | Canceled or expired | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, vested and exercisable at September 30, 2014 | 7,609,293 | $ | 0.62 | 5.11 years | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 8,254,232 | $ | 0.65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Stock Awards | Granted | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted stock awards are grants that entitle the holder to acquire shares of common stock at zero or a fixed price, which is typically nominal. The Company accounts for the restricted stock awards as issued and outstanding common stock, even though the shares covered by a restricted stock award cannot be sold, pledged, or otherwise disposed of until the award vests and any unvested shares may be reacquired by the Company for the original purchase price following the awardee’s termination of service. Annual grants of restricted stock awards are made to the non-employee members of the board of directors on the date of the annual meeting of stockholders and typically vest in full at the next annual meeting of stockholders following the grant date. Beginning in 2013, additional annual grants of restricted stock awards were made to the non-employee members of the board of directors as partial compensation for their services. These awards vest quarterly at the end of each quarter. In addition, the Company has made restricted stock awards to non-employee consultants for their services, which generally vest in one year or less. | Exercised | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the changes in restricted stock award activity and the related weighted average exercise prices for the Company’s awards issued: | Canceled or expired | (644,939 | ) | $ | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted | Outstanding at December 31, 2013 | 7,609,293 | $ | 0.62 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
from the | Weighted | Restricted Stock Awards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2006 Plan and | Average Grant Date | Restricted stock awards are grants that entitle the holder to acquire shares of common stock at zero or a fixed price, which is typically nominal. The Company accounts for the restricted stock awards as issued and outstanding common stock, even though the shares covered by a restricted stock award cannot be sold, pledged, or otherwise disposed of until the award vests and any unvested shares may be reacquired by the Company for the original purchase price following the awardee’s termination of service. Annual grants of restricted stock awards are made to the outside board of directors on the date of the annual meeting of stockholders and typically vest in full at the next annual meeting of stockholders following the grant date. Beginning in 2013, annual grants of restricted stock awards were made to the outside board of directors in lieu of a reduction in cash compensation for their services. These awards vest quarterly at the end of each quarter. In addition, the Company has made restricted stock awards to non-employee consultants for their services, which generally vest in one year or less. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2010 Plan | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at December 31, 2012 | 335,000 | $ | 0.32 | The following table summarizes restricted stock award activity during the years ended December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 961,000 | $ | 0.24 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested | (1,029,750 | ) | $ | 0.27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited | (121,250 | ) | $ | 0.25 | Restricted | Weighted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued | Average Grant | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at December 31, 2013 | 145,000 | $ | 0.23 | from the | Date Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 865,459 | $ | 0.17 | 2006 Plan and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested | (701,584 | ) | $ | 0.2 | 2010 Plan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at December 31, 2011 | 82,927 | $ | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at September 30, 2014 | 308,875 | $ | 0.19 | Granted | 335,000 | $ | 0.32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested | (82,927 | ) | $ | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of the restricted stock awards is based on the market value of the common stock on the date of grant. The total grant-date fair value of restricted stock awards vested during the nine months ended September 30, 2014 and 2013 was approximately $143,000 and $222,000, respectively. The Company recognized approximately $54,000 and $43,000 of stock-based compensation expense related to the restricted stock awards for the three months ended September 30, 2014 and 2013, respectively. Additionally, during the nine months ended September 30, 2014 and 2013, the Company recognized approximately $139,000 and $180,000 of stock-based compensation expense related to the restricted stock awards, respectively. As of September 30, 2014, total unrecognized compensation costs related to unvested awards was approximately $44,000, which is expected to be recognized over a weighted-average period of approximately 0.40 years. | Forfeited | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued with Preferred Stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
During 2008, in connection with the Company’s fund raising efforts, two warrants to purchase shares of common stock were issued with the purchase of one share of Series A Preferred Stock, where an additional 2,000,000 common stock warrants were outstanding and two warrants to purchase shares of common stock were issued with the purchase of one share of Series B Preferred Stock, where an additional 1,100,000 common stock warrants were outstanding. During the second quarter of 2010, the holders of the warrants issued to the purchasers of the Series A Preferred Stock and Series B Preferred Stock, signed a waiver to give up their rights to the anti-dilution provisions related to the warrants and the exercise price was fixed at $0.25. | Unvested at December 31, 2012 | 335,000 | $ | 0.32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013, there were no outstanding warrants related to the Series A Preferred Stock and Series B Preferred Stock. Warrants related to the Series A Preferred Stock expired in January 2013, and warrants related to the Series B Preferred Stock expired in July 2013. | Granted | 961,000 | $ | 0.24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued with Common Stock | Vested | (1,029,750 | ) | $ | 0.27 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 Securities Purchase Agreements for Common Stock | Forfeited | (121,250 | ) | $ | 0.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In conjunction with the Company’s sale of 10,125,000 shares of common stock on January 22, 2013, the Company issued warrants convertible into 5,062,500 shares of common stock at an exercise price of $0.20 per share. The warrants have a five-year term. These warrants are held by Dr. Andrey Semechkin and Dr. Simon Craw, the Company’s Co-Chairman and Chief Executive Officer and the Company’s Executive Vice President Business Development, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On March 12, 2013 the Company issued warrants convertible into 2,500,000 shares of common stock in conjunction with the sale of 5,000,000 shares of common stock. These warrants have a five-year term and an exercise price of $0.20 per share. Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer is the holder of 250,000 of these warrants. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 S-1 July Registered Offering | Unvested at December 31, 2013 | 145,000 | $ | 0.23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On July 24, 2013 the Company sold 20,000,000 Units, with each Unit consisting of one share of common stock and one Series A Warrant. The Series A Warrants were convertible into 20,000,000 shares of common stock at an exercise price of $0.15 per share. The warrants have a five year term and were immediately exercisable. In addition, the Company issued 20,000,000 Series B Warrants each to purchase one Unit. The Series B Warrants were immediately exercisable at an initial exercise price of $0.15 per Unit, subject to adjustment and expired on October 24, 2013. The Units issuable upon exercise of the Series B Warrants consisted of 20,000,000 shares of common stock and 20,000,000 Series A Warrants, which were convertible into an additional 20,000,000 shares of common stock at an exercise price of $0.15 per share. All Series A Warrants had an expiration date of the fifth anniversary of the transaction close, July 24, 2018, regardless of the date the Series A Warrants were issued. See the 2014 Warrant Exchange Agreements - discussed below. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On July 19, 2013, the Company also entered into a placement agent agreement (the “Placement Agent Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to act on a reasonable best efforts basis for the Offering. The Company paid the Placement Agent a cash fee equal to 5% of the gross proceeds from the Offering and reimbursed the Placement Agent for its reasonable out-of-pocket expenses of $75,000. The Company also issued 666,666 Placement Agent Warrants to purchase Units equal to 5% of the aggregate number of Units issued in the Offering (other than the Units issued to Andrey Semechkin and Ruslan Semechkin). The Placement Agent Warrants had substantially the same terms as the Series B Warrants, except that the Placement Agent Warrants (i) had an exercise price of $0.15 per Unit, subject to adjustments similar to those applicable to the Series A Warrants, (ii) had a term of five years, (iii) provided for a cashless exercise, and (iv) otherwise comply with the requirements of the Financial Institutions Regulatory Authority, Inc. (FINRA). The Company also agreed to pay the Placement Agent a cash solicitation fee equal to 5% of the gross proceeds received by the Company upon the exercise of the Series B Warrants under certain circumstances. See the 2014 Warrant Exchange Agreements - discussed below. | The fair value of the restricted stock awards is based on the market value of the common stock on the date of grant. The total grant-date fair value of restricted stock awards vested during the years ended December 31, 2013 and 2012 was approximately $273,000 and $415,000, respectively. The Company recognized approximately $240,000 and $59,000 of stock-based compensation expense related to the restricted stock awards for the years ended December 31, 2013 and 2012, respectively. As of December 31, 2013 and 2012, total unrecognized compensation costs related to unvested awards were approximately $16,000 and $72,000, respectively, which is expected to be recognized over a weighted-average period of approximately 0.5 and 0.4 years, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Series B Warrants were immediately exercisable at an initial exercise price of $0.15, subject to adjustment. Beginning at the close of trading on the 60th trading day following the date of issuance, and effective beginning on the fifth trading day immediately preceding such 60th trading day, the Series B Warrants were exercisable at a per unit exercise price equal to the lower of (i) the then-effective exercise price per unit and (ii) 80% of the closing bid price of the Company’s common stock on such 60th trading day. If prior to the close of trading on the 60th trading day after the date of issuance (and on any of the five trading days immediately preceding such day), a holder of the Series B Warrants had delivered one or more exercise notices to the Company and paid all or any part of the exercise price with respect thereto, then on the first trading day immediately following such 60th trading day the Company was obligated to deliver to such holder an amount in cash equal to the positive difference (if any) between (x) the exercise price actually paid by such holder and (y) the product of (I) the aggregate number of units elected to be purchased in such exercise notices, multiplied by (II) 80% of the closing bid price of the Company’s common stock on such 60th trading day. The Series B Warrants expired at the close of business on the 65th trading day following the date of issuance, October 24, 2013. The Series B Warrants were issued separately from the common stock and the Series A Warrants included in the Units, and were transferable separately, immediately thereafter. Series B Warrants were issued in certificated form only. Investors in the Offering received one Series B Warrant for each Unit purchased by them in the Offering. No additional consideration was paid by holders of the Series B Warrants. | Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The exercise price and number of shares of common stock issuable upon exercise of the Series A Warrants were subject to adjustment in the event of any stock dividends and splits, reverse stock split, stock dividend, recapitalization, reorganization or similar transaction, as described in the Series A Warrants. The Series A Warrants also contained full ratchet anti-dilution protection upon the issuance of any common stock, securities convertible into common stock, or certain other issuances at a price below the then existing exercise price of the Series A Warrants, with certain exceptions. The exercise price and number of Units issuable on exercise of the Series B Warrants were subject to adjustment in the event of any stock split, reverse stock split, stock dividend, recapitalization, reorganization or similar transaction, as described in the Series B Warrants. | Warrants Issued with Preferred Stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Series A Warrants were exercisable on a “cashless” basis in certain circumstances. In addition, in the event of a fundamental transaction that is (i) an all cash or substantially all cash transaction, (ii) a “Rule 13e 3 transaction” as defined in Rule 13e-3 under the Securities Exchange Act of 1934, as amended, or (iii) with certain limited exceptions, a fundamental transaction involving a person or entity not traded on The New York Stock Exchange, Inc., The NYSE MKT, The NASDAQ Global Select Market, The NASDAQ Global Market or The NASDAQ Capital Market, then the Company or any successor entity would pay at the holder’s option, exercisable at any time concurrently with or within 45 days after the consummation of the fundamental transaction, an amount of cash equal to the value of the Series A Warrant as determined in accordance with the Black Scholes option pricing model. | During 2008, in connection with the Company’s fund raising efforts, two warrants to purchase shares of common stock were issued with the purchase of one share of Series A Preferred Stock, where an additional 2,000,000 common stock warrants were outstanding and two warrants to purchase shares of common stock were issued with the purchase of one share of Series B Preferred Stock, where an additional 1,100,000 common stock warrants were outstanding. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company has accounted for the warrants in accordance with current accounting guidance, which defines how freestanding contracts that are indexed to and potentially settled in a Company’s own stock should be measured and classified. The authoritative accounting guidance prescribes that only warrants issued under contracts that cannot be net-cash settled and are both indexed to and settled in the Company’s common stock can be classified as equity. As the Series A Warrant, Series B Warrant, and Placement Agent Warrant agreements did not meet the specific conditions for equity classification, the Company was required to classify the fair value of the warrants issued as a liability, with subsequent changes in fair value to be recorded as income (loss) in the statement of operations upon revaluation of the fair value of warrant liability at each reporting period. Valuation of the Warrants was estimated at each quarter and as of the year ended December 31, 2013 using the Monte-Carlo simulation model. The following assumptions were used as inputs to the model at December 31, 2013: stock price of $0.21 and warrant exercise price of $0.15 as of the valuation date; the Company’s historical stock price volatility of 84.3%; risk free interest rate on U.S. treasury notes of 1.55%; warrant expiration of 4.56 years; and a zero dividend rate for the Series A Warrants and the Placement Agent Warrants; simulated as a daily interval and anti-dilution impact if the Company had to raise capital below $0.15 per share. | As of December 31, 2013 and 2012, there were 0 and 1,600,000 warrants related to the Series A Preferred Stock, respectively; and 0 and 300,000 warrants related to the Series B Preferred Stock, respectively, each at an exercise price of $0.25 per share. Warrants related to the Series A Preferred Stock expired in January 2013, and warrants related to the Series B Preferred Stock expired in July 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of the warrant liability at the issuance date exceeded the gross proceeds received for the common shares, Series A Warrants and the Series B Warrants by $1,390,000. The Series A Warrants, Series B Warrants, and Placement Agent Warrants had fair values of $1,725,000, $2,645,000 and $115,000 at issuance, respectively. The classification and valuation of the warrants resulted in total warrant liabilities of $4,485,000 and $4,925,000 as of the issuance date of July 24, 2013 and the revaluation date of December 31, 2013, respectively. During the three and nine months ended September 30, 2014, the Company recorded a net change in fair value of warrant liability gain of $0 and $1,894,000, respectively, in the condensed consolidated statements of operations prior to the 2014 Warrant Exchange Transaction in the second quarter of 2014 and for the quarterly revaluation at March 31, 2014. See the 2014 Warrant Exchange Agreements - discussed below. | Warrants Issued with Common Stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A and B Warrant Exercises - There were no warrant exercises during the three and nine months ended September 30, 2014. During the year ended December 31, 2013, the Company received net proceeds of $2,356,000 upon the exercise of 16,754,822 of the Series B Warrants issued in July 2013 for 16,754,822 additional Units, but prior to the expiration of the Series B Warrants on October 24, 3013. The total additional Units consisted of 16,754,822 shares of common stock and 16,754,822 Series A Warrants. Of the Series B Warrants exercised, Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer, exercised 2,754,821 Series B Warrants; and Ruslan Semechkin, the Company’s Chief Scientific Officer, exercised 667,667 Series B Warrants for an aggregate price of $497,000. | In conjunction with the Company’s sale of 10,125,000 shares of common stock on January 22, 2013, the Company issued warrants convertible into 5,062,500 shares of common stock at an exercise price of $0.20 per share. The warrants have a five year term. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In addition, during the year ended December 31, 2013, the Company received net proceeds of $30,000 upon the exercise of 200,000 of the Series A Warrants issued in July 2013 for 200,000 shares of common stock at an exercise price of $0.15 per share. | On March 12, 2013 the Company issued warrants convertible into 2,500,000 shares of common stock in conjunction with the sale of 5,000,000 shares of common stock. These warrants have a five year term and an exercise price of $0.20 per share. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Price Adjustment - The Series B Warrants were subject to an exercise price adjustment on the 60th trading day following issuance in July 2013. On October 17, 2013, the adjustment date, the adjusted exercise price was calculated at a 20% discount to the closing bid price on the adjustment date. The closing bid price on the adjustment date was $0.1815 per share, which resulted in an adjusted exercise price of $0.1452 per Unit. This adjusted exercise price was retroactively applied to all exercises from the period of October 10th through to the expiration date of October 24th. Of the 16,754,822 Series B Warrants exercised during the year ended December 31, 2013, there were 12,304,822 subject to the adjusted exercise price of $0.1452 per Unit for net proceeds of approximately $1,722,000. The remaining 4,450,000 were exercised prior to the adjustment date at $0.15 per Unit for net proceeds of approximately $634,000. | On July 24, 2013 the Company sold 20,000,000 Units, with each Unit consisting of one share of common stock and one Series A Warrant. The Series A Warrants are convertible into 20,000,000 shares of common stock at an exercise price of $0.15 per share. The warrants have a five year term and were immediately exercisable. In addition, the Company issued 20,000,000 Series B Warrants each to purchase one Unit. The Series B Warrants were immediately exercisable at an initial exercise price of $0.15 per Unit, subject to adjustment and expired on October 24, 2013. The Units issuable upon exercise of the Series B Warrants consisted of 20,000,000 shares of common stock and 20,000,000 Series A Warrants, which are convertible into an additional 20,000,000 shares of common stock at an exercise price of $0.15 per share. All Series A Warrants expire on the fifth anniversary of the transaction close, July 24, 2018, regardless of the date the Series A Warrants were issued. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expiration of Series B Warrants - On October 24, 2013, the remaining 3,245,178 Series B Warrants expired unexercised. | On July 19, 2013, the Company also entered into a placement agent agreement (the “Placement Agent Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to act on a reasonable best efforts basis for the Offering. The Company paid the Placement Agent a cash fee equal to 5% of the gross proceeds from the Offering and reimbursed the Placement Agent for its reasonable out-of-pocket expenses of $75,000. The Company also issued 666,666 Placement Agent Warrants to purchase Units equal to 5% of the aggregate number of Units issued in the Offering (other than the Units issued to Andrey Semechkin and Ruslan Semechkin). The Placement Agent Warrants have substantially the same terms as the Series B Warrants, except that the Placement Agent Warrants (i) have an exercise price of $0.15 per Unit, subject to adjustments similar to those applicable to the Series A Warrants, (ii) have a term of five years, (iii) provide for a cashless exercise, and (iv) otherwise comply with the requirements of the Financial Institutions Regulatory Authority, Inc. (FINRA). The Company also agreed to pay the Placement Agent a cash solicitation fee equal to 5% of the gross proceeds received by the Company upon the exercise of the Series B Warrants under certain circumstances. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 Warrant Exchange Agreements – On June 11, 2014, the Company entered into a series of warrant exchange agreements (the “Warrant Exchange Agreements”) with the holders of its Series A Warrants and Placement Agent Warrants that were issued by the Company pursuant to the 2013 S-1 July Registered Offering. Under the Warrant Exchange Agreements, the Company agreed to issue a total of 44,665,783 shares of common stock (the “Exchange Shares”) to the warrant holders in exchange for the cancellation of the Series A Warrants to purchase 36,554,822 shares of common stock and the Placement Agent Warrants to purchase 666,666 shares of common stock and Series A Warrants. Dr. Andrey Semechkin and Dr. Ruslan Semechkin, the Company’s Co-Chairman and Chief Executive Officer and Chief Scientific Officer and director, respectively, participated on the same terms as the other warrant holders, agreeing to exchange Series A Warrants to purchase 10,088,154 shares of common stock for 12,105,784 shares of common stock. The closing of the transaction occurred on June 16, 2014 with the issuance of the Exchange Shares. | The Series B Warrants were immediately exercisable at an initial exercise price of $0.15, subject to adjustment. Beginning at the close of trading on the 60th trading day following the date of issuance, and effective beginning on the fifth trading day immediately preceding such 60th trading day, the Series B Warrants were exercisable at a per unit exercise price equal to the lower of (i) the then-effective exercise price per unit and (ii) 80% of the closing bid price of the Company’s common stock on such 60th trading day. If prior to the close of trading on the 60th trading day after the date of issuance (and on any of the five trading days immediately preceding such day), a holder of the Series B Warrants had delivered one or more exercise notices to the Company and paid all or any part of the exercise price with respect thereto, then on the first trading day immediately following such 60th trading day the Company was obligated to deliver to such holder an amount in cash equal to the positive difference (if any) between (x) the exercise price actually paid by such holder and (y) the product of (I) the aggregate number of units elected to be purchased in such exercise notices, multiplied by (II) 80% of the closing bid price of the Company’s common stock on such 60th trading day. The Series B Warrants expired at the close of business on the 65th trading day following the date of issuance, October 24, 2013. The Series B Warrants were issued separately from the common stock and the Series A Warrants included in the Units, and were transferable separately, immediately thereafter. Series B Warrants were issued in certificated form only. Investors in the Offering received one Series B Warrant for each Unit purchased by them in the Offering. No additional consideration was paid by holders of the Series B Warrants. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Immediately prior to the Warrant Exchange transaction, the Company recorded a net change in fair value of warrant liability gain of $1,271,000. As a result of the Warrant Exchange, the Company recognized a $3,445,000 loss for the warrant exchange inducement expense. In addition, the Company recorded a reclassification of $3,031,000 to additional paid in capital from warrant liability for a total increase to additional paid in capital of $6,428,000, which represents the fair value of the stock issued in the Warrant Exchange. | The exercise price and number of shares of common stock issuable upon exercise of the Series A Warrants are subject to adjustment in the event of any stock dividends and splits, reverse stock split, stock dividend, recapitalization, reorganization or similar transaction, as described in the Series A Warrants. The Series A Warrants also contain full ratchet anti-dilution protection upon the issuance of any common stock, securities convertible into common stock, or certain other issuances at a price below the then existing exercise price of the Series A Warrants, with certain exceptions. The exercise price and number of Units issuable on exercise of the Series B Warrants were subject to adjustment in the event of any stock split, reverse stock split, stock dividend, recapitalization, reorganization or similar transaction, as described in the Series B Warrants. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As part of the Warrant Exchange Agreement, the Company agreed that through September 14, 2014 it would not offer, sell, pledge, contract to sell or otherwise dispose of any equity securities or securities convertible, exercisable or exchangeable into equity securities of the Company, except for the issuance of equity awards pursuant to the Company’s employee benefit plans and employee incentive plans, the issuance of common stock pursuant to the valid exercise of options or warrants or upon exercise of conversion rights with respect to convertible securities outstanding on the date of the Warrant Exchange, and the issuance and sale of equity securities in private placements to directors or officers of the Company. | The Series A Warrants are exercisable on a “cashless” basis in certain circumstances. In addition, in the event of a fundamental transaction that is (i) an all cash or substantially all cash transaction, (ii) a “Rule 13e 3 transaction” as defined in Rule 13e-3 under the Securities Exchange Act of 1934, as amended, or (iii) with certain limited exceptions, a fundamental transaction involving a person or entity not traded on The New York Stock Exchange, Inc., The NYSE MKT, The NASDAQ Global Select Market, The NASDAQ Global Market or The NASDAQ Capital Market, then the Company or any successor entity will pay at the holder’s option, exercisable at any time concurrently with or within 45 days after the consummation of the fundamental transaction, an amount of cash equal to the value of the Series A Warrant as determined in accordance with the Black Scholes option pricing model. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 and December 31, 2013, there were 0 and 36,554,822 Series A Warrants and 0 and 666,666 Placement Agent Warrants outstanding, respectively, which the Company had reserved 0 and 37,888,154 shares of common stock for future issuance, respectively. | The Company accounts for the warrants in accordance with current accounting guidance, which defines how freestanding contracts that are indexed to and potentially settled in a Company’s own stock should be measured and classified. The authoritative accounting guidance prescribes that only warrants issued under contracts that cannot be net-cash settled and are both indexed to and settled in the Company’s common stock can be classified as equity. As the Series A Warrant, Series B Warrant, and Placement Agent Warrant agreements did not meet the specific conditions for equity classification, the Company is required to classify the fair value of the warrants issued as a liability, with subsequent changes in fair value to be recorded as income (loss) in the statement of operations upon revaluation of the fair value of warrant liability at each reporting period. Valuation of the Warrants was estimated at December 31, 2013 using the Monte-Carlo simulation model. The fair value is affected by changes in inputs to the model. The following assumptions were used as inputs to the model at December 31, 2013: stock price of $0.21 and warrant exercise price of $0.15 as of the valuation date; the Company’s historical stock price volatility of 84.3%; risk free interest rate on U.S. treasury notes of 1.55%; warrant expiration of 4.56 years; and a zero dividend rate for the Series A Warrants and the Placement Agent Warrants; simulated as a daily interval and anti-dilution impact if the Company had to raise capital below $0.15 per share. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued with Other Financings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
During 2007 and 2008, the Company entered into various agreements to borrow working capital and as part of these agreements, the Company issued warrants to the holders to purchase common stock. The Company issued 1,400,000 warrants to YKA Partners, an affiliated company of its former Co-Chairman of the Board with an exercise price of $0.25 per share, all of which expired unexercised in August 2013. | The fair value of the warrant liability at the issuance date exceeded the gross proceeds received for the common shares, Series A Warrants and the Series B Warrants by $1,390,000. The Series A Warrants, Series B Warrants, and Placement Agent Warrants had fair values of $1,725,000, $2,645,000 and $115,000 at issuance, respectively. The classification and valuation of the warrants resulted in total warrant liabilities of $4,485,000 and $4,925,000 as of the issuance date of July 24, 2013 and the revaluation date of December 31, 2013, respectively. During the year ended December 31, 2013, the Company recorded a net change in fair value of warrant liability expense of $754,000, in the Consolidated Statements of Operations related to the change in fair value due to the revaluation at December 31, 2013, the change in fair value of the Series A and B Warrants at each exercise date, and for the 3,245,178 Series B Warrants, which expired unexercised on October 24, 2013. As a result of the fair value of the warrant liability at issuance exceeding the total gross proceeds received, the transaction financing costs of $738,000 were recognized as additional other expense. As a result of these three line items on the Consolidated Statements of Operations, the Company recognized a net effect to other expense of $2,882,000 for the 2013 S-1 July Registered Offering for the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued in Connection with SkinCare Marketing Agreement | Series A and B Warrant Exercises | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In September 2011, the Company signed a Marketing Agreement (“agreement”) with an effective date of June 30, 2011, with a third party marketing organization. According to the terms of the agreement as described in Note 10 below, Commitments and Contingencies, under Marketing Arrangement and Agreement, the third party marketing organization would provide assistance to LSC to sell its skin care products through various specific proprietary mailings. The agreement provides for two tranches of common stock warrants issued by the Company for the benefit of the third party marketing organization for 100,000 shares each, with strike prices of $1.50 and $2.00, respectively, vesting over four quarters, and a warrant term of five years. As of September 30, 2014 and December 31, 2013, there were 200,000 warrants outstanding. These warrants expire in September 2016. | During the year ended December 31, 2013, the Company received net proceeds of $2,356,000 upon the exercise of 16,754,822 of the Series B Warrants issued in July 2013 for 16,754,822 additional Units, but prior to the expiration of the Series B Warrants on October 24, 3013. The total additional Units consisted of 16,754,822 shares of common stock and 16,754,822 Series A Warrants. Of the Series B Warrants exercised, Dr. Andrey Semechkin, the Company’s Co-Chairman and Chief Executive Officer, exercised 2,754,821 Series B Warrants; and Ruslan Semechkin, the Company’s Chief Scientific Officer, exercised 667,667 Series B Warrants for an aggregate price of $497,000. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share data related to warrant transactions through September 30, 2014 were as follows: | In addition, during the year ended December 31, 2013, the Company received net proceeds of $30,000 upon the exercise of 200,000 of the Series A Warrants issued in July 2013 for 200,000 shares of common stock at an exercise price of $0.15 per share. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Price Adjustment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Series B Warrants were subject to an exercise price adjustment on the 60th trading day following issuance in July 2013. On October 17, 2013, the adjustment date, the adjusted exercise price was calculated at a 20% discount to the closing bid price on the adjustment date. The closing bid price on the adjustment date was $0.1815 per share, which resulted in an adjusted exercise price of $0.1452 per Unit. This adjusted exercise price was retroactively applied to all exercises from the period of October 10th through to the expiration date of October 24th. Of the 16,754,822 Series B Warrants exercised during the year ended December 31, 2013, there were 12,304,822 subject to the adjusted exercise price of $0.1452 per Unit for net proceeds of approximately $1,722,000. The remaining 4,450,000 were exercised prior to the adjustment date at $0.15 per Unit for net proceeds of approximately $634,000. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock | Common Stock | Units | Common Stock | Price per Warrant | Expiration of Series B Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted | On October 24, 2013, the remaining 3,245,178 Series B Warrants expired unexercised. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Placement | YKA | Skin Care | Jan-13 | Mar-13 | Total | Average | As of December 31, 2013, there were 36,554,822 Series A Warrants and 666,666 Placement Agent Warrants outstanding which the Company has reserved 37,888,154 shares of common stock for future issuance. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A | Series B | Series A | Series B | Agent | Loan | Marketing | Financing | Financing | Warrants | Range | Exercise Price | Brookstreet Securities Corporation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 1,600,000 | 300,000 | — | — | — | 1,400,000 | 200,000 | — | — | 3,500,000 | $ | 0.25-2.00 | $ | 0.336 | In 2006 and 2007, warrants were issued to Brookstreet Securities Corporation (Brookstreet) for its services as placement agent for the raising of private equity capital. During February 2012, the remaining 1,721,629 warrants outstanding issued to Brookstreet expired unexercised. The Company reduced the Fair value of warrant liability to zero as of December 31, 2012. In addition, for the year ended December 31, 2012, the Company recorded income of $38,000 in its consolidated statements of operations related to the change in the fair value of warrant liability. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | Warrants Issued with Other Financings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued | 36,754,822 | 20,000,000 | 666,666 | 5,062,500 | 2,500,000 | 64,983,988 | $ | 0.15-0.200 | $ | 0.156 | During 2007 and 2008, the Company entered into various agreements to borrow working capital and as part of these agreements, the Company issued warrants to the holders to purchase common stock. The Company issued 1,629,623 warrants to various investors at an exercise price of $0.80 per share of which zero warrants remained outstanding at December 31, 2012. In addition, 1,400,000 warrants were issued to YKA Partners, an affiliated company of its former Co-Chairman of the Board with an exercise price of $0.25 per share, all of which expired unexercised in August 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | (200,000 | ) | (16,754,822 | ) | (16,954,822 | ) | $ | 0.145-0.15 | $ | 0.147 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited/Cancelled | (1,600,000 | ) | (300,000 | ) | (3,245,178 | ) | (1,400,000 | ) | (6,545,178 | ) | $ | 0.15-0.250 | $ | 0.198 | Warrants Issued to BioTime | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
During June 2008, the Company entered into an agreement with BioTime, Inc. (“BioTime”). Based on the agreement, BioTime agreed to pay the Company an advance of $250,000 to produce, make, and distribute joint products (as defined in that agreement). As part of the agreement, the Company issued warrants for Bio Time to purchase 30,000 shares of the Company’s common stock at $0.25 per share, all of which expired unexercised in December 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2013 | — | — | 36,554,822 | — | 666,666 | — | 200,000 | 5,062,500 | 2,500,000 | 44,983,988 | $ | 0.145-2.00 | $ | 0.166 | Warrants Issued in Connection with SkinCare Marketing Agreement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | In September 2011, the Company signed a Marketing Agreement (“agreement”) with an effective date of June 30, 2011, with a third party marketing organization. According to the terms of the agreement as described in Note 10 below, Commitments and Contingencies, under Marketing Arrangement and Agreement, the third party marketing organization would provide assistance to LSC to sell its skin care products through various specific proprietary mailings. The agreement provides for two tranches of common stock warrants issued by the Company for the benefit of the third party marketing organization for 100,000 shares each, with strike prices of $1.50 and $2.00, respectively, vesting over four quarters, and a warrant term of five years. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued | — | As of December 31, 2013 and 2012, there were 200,000 warrants outstanding. These warrants expire in September 2016. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchanged | (36,554,822 | ) | (666,666 | ) | (37,221,488 | ) | $ | 0.15 | $ | 0.15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | Share data related to warrant transactions as of December 31, 2013 were as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited/Cancelled | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, September 30, 2014 | — | — | — | — | — | — | 200,000 | 5,062,500 | 2,500,000 | 7,762,500 | $ | 0.145-2.00 | $ | 0.24 | Preferred | Common | Units | Common Stock | Price | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock | Stock | per | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A | Series B | Series A | Series B | Placement | YKA | BioTime | Bridge | Brookstreet | Skin | Jan | Mar | Total | Range | Weighted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agent | Loan | Loan & | Care | 2013 | 2013 | Warrants | average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non- | Marketing | Financing | Financing | exercise | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash | price | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Grants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2011 | 1,600,000 | 300,000 | 1,400,000 | 30,000 | 1,317,921 | 1,721,629 | 200,000 | 6,569,550 | $0.25- | $ | 0.49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited/Expired | (30,000 | ) | (1,317,921 | ) | (1,721,629 | ) | (3,069,550 | ) | $0.56- | $ | 0.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 1,600,000 | 300,000 | 1,400,000 | — | — | — | 200,000 | 3,500,000 | $0.25- | $ | 0.336 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued | 36,754,822 | 20,000,000 | 666,666 | 5,062,500 | 2,500,000 | 64,983,988 | $0.15- | $ | 0.156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | (200,000 | ) | (16,754,822 | ) | (16,954,822 | ) | $0.145-0.15 | $ | 0.147 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited/Expired | (1,600,000 | ) | (300,000 | ) | (3,245,178 | ) | (1,400,000 | ) | (6,545,178 | ) | $0.15- | $ | 0.198 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2013 | — | — | 36,554,822 | — | 666,666 | — | — | — | — | 200,000 | 5,062,500 | 2,500,000 | 44,983,988 | $0.145-2.00 | $ | 0.166 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ||||||||
Commitments and Contingencies | ' | ' | ||||||||
10. Commitments and Contingencies | 10. Commitments and Contingencies | |||||||||
Leases | Leases | |||||||||
The Company has established its primary research facility in 8,215 square feet of leased office and laboratory space in Oceanside, California. The lease for this facility expires in August 2016. The current base rent is $8,846 per month. The facility has leasehold improvements which include cGMP (current Good Manufacturing Practices) level clean rooms designed for the derivation of clinical-grade stem cells and their differentiated derivatives, research laboratories for the Company’s stem cell differentiation studies and segregated rooms for biohazard control and containment of human donor tissue. The monthly base rent will increase by 3% annually on the anniversary date of the agreement. | The Company has established its primary research facility in 8,215 square feet of leased office and laboratory space in Oceanside, California. The lease for this facility expires in August 2016. The current base rent is $8,588 per month. The facility has leasehold improvements which include cGMP (current Good Manufacturing Practices) level clean rooms designed for the derivation of clinical-grade stem cells and their differentiated derivatives, research laboratories for the Company’s stem cell differentiation studies and segregated rooms for biohazard control and containment of human donor tissue. The monthly base rent will increase by 3% annually on the anniversary date of the agreement. | |||||||||
The Company leases a 5,520 square foot manufacturing facility in Frederick, Maryland, which is used for laboratory and administrative purposes. The current base rent is $11,105. The initial term of the lease expires in December 2015 and there is an option for an additional five years. The laboratory is being used to develop and manufacture the Company’s research products and the administration facility is used for sales and marketing and general administrative purposes. The manufacturing laboratory space has clean rooms and is fitted with the necessary water purification, refrigeration, labeling equipment and standard manufacturing equipment to manufacture, package, store, and distribute media products. | The Company leases a 5,520 square foot manufacturing facility in Frederick, Maryland, which is used for laboratory and administrative purposes. The current base rent is $11,644. The initial term of the lease expires in December 2015 and there is an option for an additional five years. The laboratory is being used to develop and manufacture the Company’s research products and the administration facility is used for sales and marketing and general administrative purposes. The manufacturing laboratory space has clean rooms and is fitted with the necessary water purification, refrigeration, labeling equipment and standard manufacturing equipment to manufacture, package, store, and distribute media products. | |||||||||
On February 25, 2011, the Company entered into a lease agreement (the “Lease Agreement”) with S Real Estate Holdings LLC to allow the Company to expand into new corporate offices located at 5950 Priestly Drive, Carlsbad, California. The building is used for administrative purposes, but could also be used for research and development purposes if such space is needed in the future. The lease initially covered approximately 4,653 square feet, starting on March 1, 2011, and was amended to cover approximately 8,199 square feet effective July 1, 2011, and to cover approximately 9,848 square feet effective January 1, 2013. The lease expires on February 29, 2016, subject to the Company’s right to extend the term for up to five additional years. The Company began paying rent at an initial rate of $5,118 per month and the rate was amended effective July 1, 2011 and January 1, 2013 to account for additional square footage occupied by the Company. The current base rent is $11,837 per month. The monthly base rent will increase by 3% annually on the anniversary date of the agreement. The Company is also obligated to pay a portion of the utilities for the building and increases in property tax and insurance. | On February 25, 2011, the Company entered into a lease agreement (the “Lease Agreement”) with S Real Estate Holdings LLC to allow the Company to expand into new corporate offices located at 5950 Priestly Drive, Carlsbad, California. The building is used for administrative purposes, but could also be used for research and development purposes if such space is needed in the future. The lease initially covered approximately 4,653 square feet, starting on March 1, 2011, and was amended to cover approximately 8,199 square feet effective July 1, 2011, and to cover approximately 9,848 square feet effective January 1, 2013. The lease expires on February 29, 2016, subject to the Company’s right to extend the term for up to five additional years. The Company began paying rent at an initial rate of $5,118 per month and the rate was amended effective July 1, 2011 and January 1, 2013 to account for additional square footage occupied by the Company. The current base rent is $11,492 per month. The monthly base rent will increase by 3% annually on the anniversary date of the agreement. The Company is also obligated to pay a portion of the utilities for the building and increases in property tax and insurance. | |||||||||
S Real Estate Holdings LLC is owned by Dr. Ruslan Semechkin, the Company’s Chief Scientific Officer and a director, and was previously owned by Dr. Andrey Semechkin, the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors. The Lease Agreement was negotiated at arm’s length and was reviewed by the Company’s outside legal counsel. The terms of the lease were reviewed by a committee of independent directors, and the Company believes that, in total, those terms are consistent with the terms that could be obtained for comparable facilities from an unaffiliated party. | S Real Estate Holdings LLC is owned by Dr. Ruslan Semechkin, the Company’s Chief Scientific Officer and a director, and was previously owned by Dr. Andrey Semechkin, the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors. The Lease Agreement was negotiated at arm’s length and was reviewed by the Company’s outside legal counsel. The terms of the lease were reviewed by a committee of independent directors, and the Company believes that, in total, those terms are consistent with the terms that could be obtained for comparable facilities from an unaffiliated party. | |||||||||
The Company incurred rent expense of $79,000 and $77,000 for the three months ended September 30, 2014 and 2013, respectively. For the nine months ended September 30, 2014 and 2013, the Company incurred rent expense of $236,000 and $235,000, respectively. | The Company incurred rent expense of $310,000 and $286,000 for the years ended December 31, 2013 and 2012, respectively. | |||||||||
Future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of September 30, 2014, are as follows (in thousands): | Future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2013, are as follows (in thousands): | |||||||||
Amount | Amount | |||||||||
2014 (remaining three months) | $ | 97 | ||||||||
2015 | 397 | 2014 | $ | 386 | ||||||
2016 | 101 | 2015 | 397 | |||||||
2017 | 3 | 2016 | 101 | |||||||
2017 | 3 | |||||||||
Total | $ | 598 | ||||||||
Marketing Agreement | Total | $ | 887 | |||||||
In September 2011, the Company signed a Marketing Agreement (“agreement”) with an effective date of June 30, 2011, superseding the terms of a previous arrangement with a third party marketing organization. According to the agreement, the third party marketing organization will continue to provide assistance to Lifeline Skin Care, Inc., (“LSC”) a wholly-owned subsidiary of International Stem Cell, to sell skin care products through various specific proprietary mailings. In exchange for such services, the Company will pay 20% of net revenues for Direct Sales (as defined in the agreement) generated from the proprietary mailings. In addition, the Company agreed to pay 10% of net revenues for Referral Sales. The agreement specifies that the parties do not intend to create a joint venture, and that either party may terminate the agreement upon 30-day written notice. In addition, the agreement provided for two tranches of common stock warrants issued by the Company for the benefit of the third party marketing organization for 100,000 shares each, with strike prices of $1.50 and $2.00, respectively, with vesting over four quarters, and warrant term of five years. Subsequently in July 2012, the Company renegotiated the commission structure to reflect slightly lower rates, 18% on net revenues derived from direct sales and 9% on net revenues derived from referral sales. LSC incurred $11,000 and $18,000 as commission expenses during the three months ended September 30, 2014 and 2013, respectively, under the terms of this agreement. For the nine months ended September 30, 2014 and 2013, the commission expense incurred under this agreement was $34,000 and 61,000, respectively. | ||||||||||
Customer Concentration | Marketing Agreement | |||||||||
During the three and nine months ended September 30, 2014 for the Biomedical market segment, one customer accounted for 22% and 21% of consolidated revenues. During the three and nine months ended September 30, 2013 for the Biomedical market segment, one customer accounted for 24% and 18% of our consolidated revenues. No other single customer accounted for more than 10% of revenues for any period presented. | In September 2011, the Company signed a Marketing Agreement (“agreement”) with an effective date of June 30, 2011, superseding the terms of a previous arrangement with a third party marketing organization. According to the agreement, the third party marketing organization will continue to provide assistance to Lifeline Skin Care, Inc., (“LSC”) a wholly-owned subsidiary of International Stem Cell, to sell skin care products through various specific proprietary mailings. In exchange for such services, the Company will pay 20% of net revenues for Direct Sales (as defined in the agreement) generated from the proprietary mailings. In addition, the Company agreed to pay 10% of net revenues for Referral Sales. The agreement specifies that the parties do not intend to create a joint venture, and that either party may terminate the agreement upon 30-day written notice. In addition, the agreement provided for two tranches of common stock warrants issued by the Company for the benefit of the third party marketing organization for 100,000 shares each, with strike prices of $1.50 and $2.00, respectively, with vesting over four quarters, and warrant term of five years. Subsequently in July 2012, the Company renegotiated the commission structure to reflect slightly lower rates, 18% on net revenues derived from direct sales and 9% on net revenues derived from referral sales. For the month of December 2012, the commission rate was temporarily increased to 25% on net revenues derived from direct sales on qualifying volume of orders. The Company recognized $0 and $73,000 in stock-based compensation for the warrants issued for services during the years ended December 31, 2013 and 2012, respectively. | |||||||||
LSC incurred $80,000 and $149,000 as commission expenses during the years ended December 31, 2013 and 2012, respectively, under the terms of this arrangement and agreement. | ||||||||||
Customer Concentration | ||||||||||
During the year ended December 31, 2013 for the Biomedical market segment, one major customer accounted for approximately 17% of consolidated revenues, and another major customer accounted for approximately 10% of consolidated revenues. During the year ended December 31, 2012 for the Biomedical market segment, one major customer accounted for 13% of consolidated revenues. No other single customer accounted for more than 10% of revenues for any period presented. |
Segments_and_Geographic_Inform
Segments and Geographic Information | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||
Segments and Geographic Information | ' | ' | ||||||||||||||||||||||||
11. Segments and Geographic Information | 11. Segments and Geographic Information | |||||||||||||||||||||||||
The Company’s chief operating decision-maker reviews financial information presented on a consolidated basis, accompanied by disaggregated information by each reportable company’s statement of operations. The Company operates the business on the basis of three reporting segments, the parent company and two wholly-owned subsidiaries: | The Company’s chief operating decision-maker reviews financial information presented on a consolidated basis, accompanied by disaggregated information by each reportable company’s statement of operations. The Company operates the business on the basis of three reporting segments, the parent company and two wholly-owned subsidiaries: | |||||||||||||||||||||||||
International Stem Cell Corporation, a research and development company, for the Therapeutic Market for clinical applications of hpSCs for the treatment of various diseases such as Parkinson’s disease, liver diseases and corneal blindness; | International Stem Cell Corporation, a research and development company, for the Therapeutic Market for clinical applications of hpSCs for the treatment of various diseases such as Parkinson’s disease, liver diseases and corneal blindness; | |||||||||||||||||||||||||
Lifeline Skin Care, Inc. for the Cosmeceutical Market, which develops, manufactures and markets a category of cosmetic skin care products based on biotechnology with human stem cells; | Lifeline Skin Care, Inc. for the Cosmeceutical Market, which develops, manufactures and markets a category of cosmetic skin care products based on biotechnology with human stem cells; | |||||||||||||||||||||||||
Lifeline Cell Technology, LLC for the Biomedical Market, which develops, manufactures and commercializes primary human cell research products including over 130 human cell culture products, including frozen human “primary” cells and the reagents (called “media”) needed to grow, maintain and differentiate the cells. | Lifeline Cell Technology, LLC for the Biomedical Market, which develops, manufactures and commercializes primary human cell research products including over 130 human cell culture products, including frozen human “primary” cells and the reagents (called “media”) needed to grow, maintain and differentiate the cells. | |||||||||||||||||||||||||
Revenues, Expenses and Operating Income (loss) | Revenues, Expenses and Operating Income (loss) | |||||||||||||||||||||||||
The Company does not measure the performance of its segments on any asset-based metrics. Therefore, segment information is presented only for operating income (loss). Revenues, expenses and operating income (loss) by market segment were as follows (in thousands): | The Company does not measure the performance of its segments on any asset-based metrics. Therefore, segment information is presented only for operating income (loss). Revenues, expenses and operating income (loss) by market segment were as follows (in thousands): | |||||||||||||||||||||||||
For the Three Months | For the Nine Months | For the Years Ended | ||||||||||||||||||||||||
Ended September 30, | Ended September 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||
Revenues: | Revenues: | |||||||||||||||||||||||||
Cosmeceutical market | $ | 970 | $ | 810 | $ | 2,519 | $ | 2,169 | Cosmeceutical market | $ | 3,204 | $ | 2,192 | |||||||||||||
Biomedical market | 993 | 860 | 2,681 | 2,243 | Biomedical market | 2,943 | 2,375 | |||||||||||||||||||
Total revenues | 1,963 | 1,670 | 5,200 | 4,412 | Total revenues | 6,147 | 4,567 | |||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||||
Therapeutic market | 2,458 | 1,900 | 7,067 | 6,071 | Operating expenses: | |||||||||||||||||||||
Cosmeceutical market | 837 | 787 | 2,410 | 2,129 | Therapeutic market | 8,200 | 9,106 | |||||||||||||||||||
Biomedical market | 702 | 686 | 2,065 | 1,821 | Cosmeceutical market | 2,914 | 2,585 | |||||||||||||||||||
Biomedical market | 2,579 | 2,691 | ||||||||||||||||||||||||
Total operating expenses | 3,997 | 3,373 | 11,542 | 10,021 | ||||||||||||||||||||||
Operating income (loss): | Total operating expenses | 13,693 | 14,382 | |||||||||||||||||||||||
Therapeutic market | (2,458 | ) | (1,900 | ) | (7,067 | ) | (6,071 | ) | ||||||||||||||||||
Cosmeceutical market | 133 | 23 | 109 | 40 | Operating income (loss): | |||||||||||||||||||||
Biomedical market | 291 | 174 | 616 | 422 | Therapeutic market | (8,200 | ) | (9,106 | ) | |||||||||||||||||
Cosmeceutical market | 290 | (393 | ) | |||||||||||||||||||||||
Total operating income (loss) | $ | (2,034 | ) | $ | (1,703 | ) | $ | (6,342 | ) | $ | (5,609 | ) | Biomedical market | 364 | (316 | ) | ||||||||||
Geographic Information | Total operating income (loss) | $ | (7,546 | ) | $ | (9,815 | ) | |||||||||||||||||||
The Company’s wholly-owned subsidiaries are located in Maryland and California, and have customer and vendor relationships worldwide. Significant revenues in the following regions are those that are attributable to the individual countries within the region to which the product was shipped (in thousands): | ||||||||||||||||||||||||||
Geographic Information | ||||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | The Company’s wholly-owned subsidiaries are located in Maryland and California, and have customer and vendor relationships worldwide. Significant revenues in the following regions are those that are attributable to the individual country within the region to which the product was shipped (in thousands): | ||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
North America | $ | 1,519 | $ | 1,280 | $ | 4,186 | $ | 3,362 | For the Years Ended December 31, | |||||||||||||||||
Asia | 332 | 283 | 672 | 704 | 2013 | 2012 | ||||||||||||||||||||
Europe | 98 | 66 | 309 | 254 | North America | $ | 4,779 | $ | 3,483 | |||||||||||||||||
All other regions | 14 | 41 | 33 | 92 | Asia | 905 | 624 | |||||||||||||||||||
Europe | 355 | 372 | ||||||||||||||||||||||||
Total | $ | 1,963 | $ | 1,670 | $ | 5,200 | $ | 4,412 | All other regions | 108 | 88 | |||||||||||||||
Total | $ | 6,147 | $ | 4,567 | ||||||||||||||||||||||
Subsequent_Event
Subsequent Event | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' | ' |
Subsequent Event | ' | ' |
12. Subsequent Event | 12. Subsequent Events | |
On October 14, 2014, pursuant to a securities purchase agreement (the “Securities Purchase Agreement”), dated as of October 7, 2014, with Sabby Healthcare Volatility Master Fund, Ltd., Sabby Volatility Warrant Master Fund, Ltd., and Andrey and Ruslan Semechkin, the Company’s Chief Executive Officer and Co-Chairman and Chief Scientific Officer and Director, respectively, (together, the “Purchasers”), the Company sold in a private placement (the “Private Placement”) (i) an aggregate of 2,500 shares of Series H Convertible Preferred Stock, par value $0.001 with a stated value of $1,000 per share (the “Series H Preferred Stock”), convertible into 38,777,726 shares of common stock at an initial conversion price of $0.06447, (ii) Series A warrants (the “Series A Warrants”) to purchase up to 38,777,726 shares of common stock for an initial exercise price of $0.0921 per share exercisable immediately and having a term of 5.5 years, (iii) Series B warrants (the “Series B Warrants”) to purchase up to 38,777,726 shares of common stock for an initial exercise price of $0.06447 per share exercisable immediately and having a term of 6 months, (iv) Series C warrants (the “Series C Warrants”, together with the Series A Warrants, the Series B Warrants, collectively, the “Warrants”) to purchase up to 38,777,726 shares of common stock for an initial exercise price of $0.06447 per share exercisable immediately and having a term of 12 months. The aggregate initial gross proceeds received from this transaction were $2.5 million. | Additional Financing from Lincoln Park Capital Fund, LLC | |
The number of shares issuable upon conversion of the Series H Preferred Stock and exercise of the Warrants are adjustable in the event of stock splits, stock dividends, combinations of shares and similar transactions, and pursuant to antidilution provisions. In addition, Purchasers have been granted rights of participation in future offerings of our securities for eighteen months. | Under the Purchase Agreement the Company entered into with Lincoln Park in December 2013, it may sell up to an aggregate of $10,250,000 of common stock from time to time through January 2017. From commencement through December 31, 2013, the Company sold a total of 1,666,666 shares of common stock to Lincoln Park for an aggregate of $250,000 as the Initial Purchase under the Agreement. Subsequent to December 31, 2013, from January 15, 2014 through March 10, 2014, the Company sold an additional 3,800,000 shares to Lincoln Park for an aggregate of approximately $817,000. | |
The Securities Purchase Agreement entered into in the Private Placement requires the Company to hold a special meeting of stockholders to seek stockholder approval of an increase in the number of authorized shares of common stock under the Company’s certificate of incorporation to 720,000,000 shares and approve a reverse stock split. In connection with the Private Placement, the Company also entered into a registration rights agreement, as amended, with the investors pursuant to which the Company is obligated to file registration statements to register the resale of (i) 200% of the shares of Common Stock issuable upon conversion of the Series H Preferred Stock, and (ii) 100% of the shares of common stock issuable upon exercise of the warrants. In addition to the registration rights, the Purchasers are entitled to receive liquidated damages upon the occurrence of a number of events relating to filing, getting effective and maintaining effective registration statements covering the shares underlying the Series H Preferred Stock and the Warrants, including the failure of the Company to file a resale registration statement by no later than November 13, 2014 and the failure of the Company to have such resale registration statement declared effective by the Securities and Exchange Commission (the “SEC”) by no later than December 13, 2014, subject to certain exceptions. | S-1 Registration Statement filed in December 2013 | |
Subject to certain ownership limitations with respect to the Series H-1 Preferred Stock, the Series H Preferred Stock is convertible at any time into shares of Common Stock at an initial conversion price of $0.06447 per share. The Series H Preferred Stock is non-voting, is only entitled to dividends in the event that dividends are paid on the Common Stock, and will not have any preferences over the Common Stock, except that the Series H Preferred Stock shall have preferential liquidation rights over the Common Stock. Other than the Series H-1 Preferred Stock having a beneficial ownership limitation, the Series H-1 Preferred Stock and Series H-2 Preferred Stock are substantially identical. The conversion price of the Series H Preferred Stock is subject to certain resets as set forth in the Certificates of Designation, including the date of the amendment to the certificate of incorporation with respect to the reverse stock split, the effectiveness dates of the registration statements and the six and twelve month anniversaries of the Closing Date. | The S-1 Registration Statement for the Lincoln Park transaction filed with the SEC in December 2013 and amended in January 2014 to register $10,250,000 of shares of common stock for resale under the Securities Act of 1933 was declared effective on January 13, 2014. | |
The Warrants are immediately exercisable and the exercise price of the Warrants is subject to certain reset adjustments as set forth in the forms of Warrant, including the date of the amendment to the Company’s certificate of incorporation with respect to the reverse stock split, the effectiveness dates of the registration statements and the six and twelve month anniversaries of the date of issuance of the Warrants. | ||
Pursuant to the terms of the Securities Purchase Agreement, the Company may not sell shares to Lincoln Park under the Purchase Agreement with Lincoln Park, or otherwise enter into a variable rate transaction, until March 2016. Additionally, pursuant to the terms of the Securities Purchase Agreement, the Company may not issue any of its securities until the 90th day following the effective date of the registration statement on Form S-1 filed with SEC on November 3, 2014 in connection with registering for resale certain shares of common stock underlying securities issued in the private placement. However, the Company may still issue securities in certain circumstances, including issuing shares in private placements to its officers, directors and employees at market prices and issuing securities pursuant to the Company’s equity incentive plans. | ||
H.C. Wainwright & Co. (the “Placement Agent”) acted as the exclusive placement agent for the Offering pursuant to a placement agency engagement letter, dated as of September 23, 2014, by and between the Placement Agent and the Company (the “Engagement Letter”). Upon the closing of the Offering, pursuant to the Engagement Letter, the Placement Agent received a placement agent fee of $200,000 and a warrant to purchase approximately 9.3 million shares of common stock, as well as the reimbursement of fees and expenses up to $50,000. Similar to the Series A Warrant, the placement agent warrant will have an initial exercise price of $0.0921 per share, be immediately exercisable and will terminate 5.5 years after the date of issuance. |
Organization_and_Significant_A1
Organization and Significant Accounting Policies (Policies) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
Business Combination and Corporate Restructure | ' | ' | ||||||||||||||||||||||||||||||||
Business Combination and Corporate Restructure | Business Combination and Corporate Restructure | |||||||||||||||||||||||||||||||||
BTHC III, Inc. (“BTHC III” or the “Company”) was organized in Delaware in June 2005 as a shell company to effect the reincorporation of BTHC III, LLC, a Texas limited liability company. On December 28, 2006, the Company effected a Share Exchange pursuant to which it acquired all of the stock of International Stem Cell Corporation, a California corporation (“ISC California”). After giving effect to the Share Exchange, the stockholders of ISC California owned 93.7% of issued and outstanding shares of common stock. As a result of the Share Exchange, ISC California is now the wholly-owned subsidiary, though for accounting purposes it was deemed to have been the acquirer in a “reverse merger.” In the reverse merger, BTHC III is considered the legal acquirer and ISC California is considered the accounting acquirer. On January 29, 2007, the Company changed its name from BTHC III, Inc. to International Stem Cell Corporation. | BTHC III, Inc. (“BTHC III” or the “Company”) was organized in Delaware in June 2005 as a shell company to effect the reincorporation of BTHC III, LLC, a Texas limited liability company. On December 28, 2006, the Company effected a Share Exchange pursuant to which it acquired all of the stock of International Stem Cell Corporation, a California corporation (“ISC California”). After giving effect to the Share Exchange, the stockholders of ISC California owned 93.7% of issued and outstanding shares of common stock. As a result of the Share Exchange, ISC California is now the wholly-owned subsidiary, though for accounting purposes it was deemed to have been the acquirer in a “reverse merger.” In the reverse merger, BTHC III is considered the legal acquirer and ISC California is considered the accounting acquirer. On January 29, 2007, the Company changed its name from BTHC III, Inc. to International Stem Cell Corporation. | |||||||||||||||||||||||||||||||||
Lifeline Cell Technology, LLC (“LCT”) was formed in the State of California on August 17, 2001. LCT is in the business of developing and manufacturing purified primary human cells and optimized reagents for cell culture. LCT’s scientists have used a technology, called basal medium optimization, to systematically produce products designed to culture specific human cell types and to elicit specific cellular behaviors. These techniques also produce products that do not contain non-human animal proteins, a feature desirable to the research and therapeutic markets. LCT distinguishes itself in the industry by having in place scientific and manufacturing staff with the experience and knowledge to set up systems and facilities to produce a source of consistent, standardized, non-human animal protein free cell products, some of which are suitable for FDA approval. | Lifeline Cell Technology, LLC (“LCT”) was formed in the State of California on August 17, 2001. LCT is in the business of developing and manufacturing purified primary human cells and optimized reagents for cell culture. LCT’s scientists have used a technology, called basal medium optimization, to systematically produce products designed to culture specific human cell types and to elicit specific cellular behaviors. These techniques also produce products that do not contain non-human animal proteins, a feature desirable to the research and therapeutic markets. LCT distinguishes itself in the industry by having in place scientific and manufacturing staff with the experience and knowledge to set up systems and facilities to produce a source of consistent, standardized, non-human animal protein free cell products, some of which are suitable for FDA approval. | |||||||||||||||||||||||||||||||||
On July 1, 2006, LCT entered into an agreement among LCT, ISC California and the holders of membership units and warrants. Pursuant to the terms of the agreement, all the membership units in LCT were exchanged for 20,000,000 shares of ISC California Common Stock and for ISC California’s assumption of LCT’s obligations under the warrants. LCT became a wholly-owned subsidiary of ISC California. | On July 1, 2006, LCT entered into an agreement among LCT, ISC California and the holders of membership units and warrants. Pursuant to the terms of the agreement, all the membership units in LCT were exchanged for 20,000,000 shares of ISC California Common Stock and for ISC California’s assumption of LCT’s obligations under the warrants. LCT became a wholly-owned subsidiary of ISC California. | |||||||||||||||||||||||||||||||||
Lifeline Skin Care, Inc. (“LSC”) was formed in the State of California on June 5, 2009 and is a wholly-owned subsidiary of ISC California. LSC develops, manufactures and markets cosmeceutical products, utilizing an extract derived from the Company’s human parthenogenetic stem cell technologies. | Lifeline Skin Care, Inc. (“LSC”) was formed in the State of California on June 5, 2009 and is a wholly-owned subsidiary of ISC California. LSC develops, manufactures and markets cosmeceutical products, utilizing an extract derived from the Company’s human parthenogenetic stem cell technologies. | |||||||||||||||||||||||||||||||||
Going Concern | ' | ' | ||||||||||||||||||||||||||||||||
Going Concern | Going Concern | |||||||||||||||||||||||||||||||||
The Company needs to raise additional working capital. The timing and degree of any future capital requirements will depend on many factors. Currently, the Company’s burn rate is approximately $495,000 per month, excluding capital expenditures and patent costs averaging $83,000 per month. There can be no assurance that the Company will be successful in maintaining its normal operating cash flow, and that such cash flows will be sufficient to sustain the Company’s operations through 2014. Based on the above, there is substantial doubt about the Company’s ability to continue as a going concern. The condensed consolidated financial statements were prepared assuming that the Company is a going concern. The condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. | The Company needs to raise additional working capital. The timing and degree of any future capital requirements will depend on many factors. Currently, the Company’s burn rate is approximately $470,000 per month, excluding capital expenditures and patent costs averaging $75,000 per month. There can be no assurance that the Company will be successful in maintaining its normal operating cash flow, and that such cash flows will be sufficient to sustain the Company’s operations through 2014. Based on the above, there is substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements were prepared assuming that the Company is a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. | |||||||||||||||||||||||||||||||||
Management’s plans in regard to these matters are focused on managing its cash flow, the proper timing of its capital expenditures, and raising additional capital or financing in the future. In December 2013, the Company filed a registration statement with the Securities Exchange Commission (the “SEC”), which allows the Company to sell up to $10,250,000 of common stock to Lincoln Park Capital Fund, LLC (“Lincoln Park”) from time to time through January 2017 at the Company’s discretion pursuant to the terms of a Common Stock Purchase Agreement entered into with Lincoln Park on December 10, 2013 (the “Purchase Agreement”). The registration statement was declared effective on January 13, 2014. However, the Company cannot predict the timing or amount of any funds that it may actually receive. During the nine months ended September 30, 2014, to obtain funding for working capital purposes, the Company sold a total of 8,200,000 shares of common stock under the Purchase Agreement with Lincoln Park, raising approximately $1,588,000. For further discussion, see Note 6, Capital Stock. In connection with agreements entered into as part of a private placement effected October 14, 2014, the Company may not sell shares to Lincoln Park until March 2016. Additionally, pursuant to the terms of the October 2014 private placement, the Company may not issue securities, subject to certain exceptions, until the 90th day following the effective date of a registration statement on Form S-1 filed with the SEC on November 3, 2014 in connection with registering for resale certain shares of common stock underlying securities issued in the private placement, provided, however, that the Company may still issue securities in certain circumstances, including issuing shares in private placements to its officers and directors at market prices. For further discussion, see Note 12, Subsequent Events. | Management’s plans in regard to these matters are focused on managing its cash flow, the proper timing of its capital expenditures, and raising additional capital or financing in the future. In the first quarter of 2013, to obtain funding for working capital purposes, the Company sold a total of 16,325,000 shares of common stock raising net proceeds of approximately $3,266,000. In July 2013, the Company closed a financing transaction contemplated by an S-1 Registration Statement (the “S-1 July Registered Offering”) on file with the U.S. Securities and Exchange Commission (the “SEC”). The Company issued 20,000,000 Units in this transaction, raising net proceeds of approximately $2,377,000. Each Unit issued consists of a share of common stock and a Series A Warrant. Each purchaser also received a Series B Warrant for each Unit purchased. During the third quarter of 2013, the Company received net proceeds of $242,000 upon the exercise of 1,700,000 Series B Warrants for 1,700,000 additional Units. During the fourth quarter of 2013, the Company received additional net proceeds of $2,144,000 upon the exercise of 15,054,822 Series B Warrants for 15,054,822 additional Units, but prior to the expiration of the Series B Warrants on October 24, 2013, and upon exercise of 200,000 Series A Warrants for common stock. For further discussion regarding these transactions, see Note 6, Capital Stock. | |||||||||||||||||||||||||||||||||
During the third quarter of 2014, the Company sold an additional 10,444,445 shares of common stock to the Company’s Chief Executive Officer and Co-Chairman of the Board of Directors, Dr. Andrey Semechkin, and Dr. Ruslan Semechkin, Chief Scientific Officer and a director, for an aggregate of $1,000,000, as discussed in Note 6, Capital Stock. | In December 2013, the Company filed a registration statement with the SEC that, following effectiveness, would allow us to sell up to $10,250,000 of common stock to Lincoln Park Capital Fund, LLC (“Lincoln Park”) from time to time through January 2017 at the Company’s discretion. The registration statement was declared effective on January 13, 2014. However, the Company cannot predict the timing or amount of any funds that it may actually receive. From January 15, 2014 through March 10, 2014, to obtain funding for working capital purposes, the Company sold a total of 3,800,000 shares of common stock raising approximately $817,000. For further discussion, see Note 12, Subsequent Events. | |||||||||||||||||||||||||||||||||
Basis of Presentation | ' | ' | ||||||||||||||||||||||||||||||||
Basis of Presentation | Basis of Presentation | |||||||||||||||||||||||||||||||||
The Company is a biotechnology company focused on therapeutic and clinical product development with multiple long-term therapeutic opportunities and two revenue-generating subsidiaries with potential for increased future revenues. The Company was in the development stage from inception through the quarter ended September 30, 2013. During the quarter ended December 31, 2013, the Company exited the development stage based on a consistent, increasing revenue trend and more significant revenue generated from its two commercial businesses. The Company generated product revenues from the two commercial businesses of $6,147,000 for the year ended December 31, 2013. The Company currently has no revenue generated from its principal operations in therapeutic and clinical product development. | The Company is a biotechnology company focused on therapeutic and clinical product development with multiple long-term therapeutic opportunities and two revenue-generating subsidiaries with potential for increased future revenues. The Company has been in the development stage from inception through to the quarter ended September 30, 2013. During the quarter ended December 31, 2013, the Company exited the development stage based on a consistently, increasing revenue trend and more significant revenue totals generated from its two commercial businesses. The Company has generated product revenues from the two commercial businesses of $6,147,000 and $4,567,000 for the years ended December 31, 2013 and 2012, respectively. The Company currently has no revenue generated from its principal operations in therapeutic and clinical product development through research and development efforts. | |||||||||||||||||||||||||||||||||
The accompanying unaudited condensed consolidated financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q. | ||||||||||||||||||||||||||||||||||
These financial statements do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to consolidated financial statements included in the annual report on Form 10-K of International Stem Cell Corporation and Subsidiaries for the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||||
In the opinion of management, the unaudited condensed consolidated financial information for the interim periods presented reflects all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the Company’s consolidated results of operations, financial position and cash flows. The unaudited condensed consolidated financial statements and the related notes should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2013 included in the Company’s annual report on Form 10-K. Operating results for interim periods are not necessarily indicative of the operating results for any other interim period or an entire year. | ||||||||||||||||||||||||||||||||||
Principles of Consolidation | ' | ' | ||||||||||||||||||||||||||||||||
Principles of Consolidation | Principles of Consolidation | |||||||||||||||||||||||||||||||||
The Company’s consolidated financial statements include the accounts of International Stem Cell Corporation and its subsidiaries after intercompany balances and transactions have been eliminated. | The Company’s consolidated financial statements include the accounts of International Stem Cell Corporation and its subsidiaries after intercompany balances and transactions have been eliminated. | |||||||||||||||||||||||||||||||||
Reclassification | ' | ' | ||||||||||||||||||||||||||||||||
Reclassification | Reclassification | |||||||||||||||||||||||||||||||||
Certain amounts within the unaudited condensed consolidated statements of operations for the prior period have been reclassified to conform to the current period presentation. These reclassifications had no impact on the Company’s previously reported results of operations. | Certain amounts within the Consolidated Statements of Operations for the prior period have been reclassified to conform to the current period presentation. These reclassifications had no impact on the Company’s previously reported results of operations. | |||||||||||||||||||||||||||||||||
Cash Equivalents | ' | ' | ||||||||||||||||||||||||||||||||
Cash Equivalents | Cash Equivalents | |||||||||||||||||||||||||||||||||
The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. | The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. | |||||||||||||||||||||||||||||||||
Restricted Cash | ' | ' | ||||||||||||||||||||||||||||||||
Restricted Cash | Restricted Cash | |||||||||||||||||||||||||||||||||
The Company is required to maintain $50,000 in a restricted certificate of deposit account in order to fully collateralize two revolving credit card accounts. | The Company is required to maintain $50,000 in a restricted certificate of deposit account in order to fully collateralize two revolving credit card accounts. | |||||||||||||||||||||||||||||||||
Inventories | ' | ' | ||||||||||||||||||||||||||||||||
Inventories | Inventories | |||||||||||||||||||||||||||||||||
Inventories are accounted for using the first-in, first-out (FIFO) method for LSC products and specific identification method for LCT products. Inventory balances are stated at the lower of cost or market. Laboratory supplies used in the research and development process are expensed as consumed. Inventory is reviewed periodically for product expiration and obsolescence and is adjusted accordingly. | Inventories are accounted for using the first-in, first-out (FIFO) method for LSC products, and specific identification method for LCT products. Inventory balances are stated at the lower of cost or market. Laboratory supplies used in the research and development process are expensed as consumed. Inventory is reviewed periodically for product expiration and obsolescence and is adjusted accordingly. | |||||||||||||||||||||||||||||||||
Accounts Receivable | ' | ' | ||||||||||||||||||||||||||||||||
Accounts Receivable | Accounts Receivable | |||||||||||||||||||||||||||||||||
Trade accounts receivable are recorded at the net invoice value and are not interest bearing. Accounts receivable primarily consist of trade accounts receivable from the sales of LCT’s products, timing of cash receipts by the Company related to LSC credit card sales to customers, as well as LSC trade receivable amounts related to spa and distributor sales. The Company considers receivables past due based on the contractual payment terms. The Company reviews its exposure to accounts receivable and reserves specific amounts if collectability is no longer reasonably assured. As of September 30, 2014 and December 31, 2013, the Company had an allowance for doubtful accounts totaling $19,000. | Trade accounts receivable are recorded at the net invoice value and are not interest bearing. Accounts receivable primarily consist of trade accounts receivable from the sales of LCT’s products, timing of cash receipts by the Company related to LSC credit card sales to customers, as well as LSC trade receivable amounts related to spa and distributor sales. The Company considers receivables past due based on the contractual payment terms. The Company reviews its exposure to accounts receivable and reserves specific amounts if collectability is no longer reasonably assured. As of December 31, 2013 and 2012, the Company had an allowance for doubtful accounts of $19,000 and $4,000, respectively. | |||||||||||||||||||||||||||||||||
Property and Equipment | ' | ' | ||||||||||||||||||||||||||||||||
Property and Equipment | Property and Equipment | |||||||||||||||||||||||||||||||||
Property and equipment are stated at cost. The provision for depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, generally over five years. The costs of major remodeling and leasehold improvements are capitalized and amortized over the shorter of the remaining term of the lease or the life of the asset. | Property and equipment are stated at cost. The provision for depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, generally over five years. The costs of major remodeling and leasehold improvements are capitalized and amortized over the shorter of the remaining term of the lease or the life of the asset. | |||||||||||||||||||||||||||||||||
Intangible Assets | ' | ' | ||||||||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||||||||||
Intangible assets consist of acquired research and development rights used in research and development, and capitalized legal fees related to the acquisition, filing, maintenance, and defense of patents. Patent or patent license amortization only begins once a patent license is acquired or a patent is issued by the appropriate authoritative bodies. In the period in which a patent application is rejected or efforts to pursue the patent are abandoned, all the related accumulated costs are expensed. Patents and patent licenses are recorded at cost and are amortized on a straight-line basis over the shorter of the lives of the underlying patents or the useful life of the license. | ||||||||||||||||||||||||||||||||||
Long-Lived Asset Impairment | ' | ' | ||||||||||||||||||||||||||||||||
Long-Lived Asset Impairment | Long-Lived Asset Impairment | |||||||||||||||||||||||||||||||||
The Company reviews long-lived assets for impairment when events or changes in business conditions indicate that their carrying value may not be recovered, and at least annually. The Company considers assets to be impaired and writes them down to fair value if expected associated undiscounted cash flows are less than the carrying amounts. Fair value is the present value of the associated cash flows. The Company did not recognize material impairments on its long-lived assets during the three and nine months ended September 30, 2014 and 2013. | The Company reviews long-lived assets for impairment when events or changes in business conditions indicate that their carrying value may not be recovered, and at least annually. The Company considers assets to be impaired and writes them down to fair value if expected associated undiscounted cash flows are less than the carrying amounts. Fair value is the present value of the associated cash flows. The Company recognized $52,000 and $190,000 of impairment losses on its long-lived assets during the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||
Product Sales | ' | ' | ||||||||||||||||||||||||||||||||
Product Sales | Product Sales | |||||||||||||||||||||||||||||||||
The Company recognizes revenue from product sales at the time of shipment to the customer, provided no significant obligations remain and collection of the receivable is reasonably assured. If the customer has a right of return, the Company recognizes product revenues upon shipment, provided that future returns can be reasonably estimated. In the case where returns cannot be reasonably estimated, revenue will be deferred until such estimates can be made or the right of return has lapsed. LCT contributed 52% and 51% of total revenue during the nine months ended September 30, 2014 and 2013, respectively. LSC contributed 48% and 49% of total revenue during the nine months ended September 30, 2014 and 2013, respectively. | The Company recognizes revenue from product sales at the time of shipment to the customer, provided no significant obligations remain and collection of the receivable is reasonably assured. If the customer has a right of return, the Company recognizes product revenues upon shipment, provided that future returns can be reasonably estimated. In the case where returns cannot be reasonably estimated, revenue will be deferred until such estimates can be made or the right of return has lapsed. LCT contributed 48% and 52% of total revenue in 2013 and 2012, respectively. LSC’s revenue accounted for 52% and 48% of total revenue in 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||
Deferred Revenue and Allowance for Sales Returns | ' | ' | ||||||||||||||||||||||||||||||||
Deferred Revenue and Allowance for Sales Returns | Deferred Revenue and Allowance for Sales Returns | |||||||||||||||||||||||||||||||||
The Company recognizes revenue from product sales when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. However, the LSC products have a 30-day product return guarantee for website sales. The Company has estimated the historical rate of returns for the 30-day product return guarantee, which has remained consistent for the three and nine months ended September 30, 2014 as compared to the years ended December 31, 2013 and 2012. At September 30, 2014 and December 31, 2013, the estimated allowance for sales returns was $10,000. At September 30, 2014 and December 31, 2013, net deferred revenue totaled $0 and $3,000, respectively. | The Company recognizes revenue from product sales when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. However, the LSC products have a 30-day product return guarantee for website sales. The Company has estimated the historical rate of returns for the 30-day product return guarantee to be approximately 3% for the years ended December 31, 2013 and 2012. As such at December 31, 2013, the Company recorded an estimated allowance for sales returns of $10,000, and a one-time recognition of prior deferred revenue of $277,000, offset by prior deferred cost of sales of $21,000 for net deferred revenue recognition of $256,000. | |||||||||||||||||||||||||||||||||
During 2012, the Company deferred all revenue associated with website sales until the 30-day product return guarantee had lapsed due to insufficient historical data of sales returns to accurately estimate an allowance for sales returns. In addition, all costs associated with these product sales were also deferred so that a net deferred revenue balance was reflected. At December 31, 2012, net deferred revenue totaled $233,000. | ||||||||||||||||||||||||||||||||||
Cost of Sales | ' | ' | ||||||||||||||||||||||||||||||||
Cost of Sales | Cost of Sales | |||||||||||||||||||||||||||||||||
Cost of sales consists primarily of salaries and benefits associated with employee efforts expended directly on the production of the Company’s products and include related direct materials, general laboratory supplies and allocation of overhead. Certain of the agreements under which the Company has licensed technology will require the payment of royalties based on the sale of its future products. Such royalties will be recorded as a component of cost of sales. Additionally, the amortization of license fees or milestone payments related to developed technologies used in the Company’s products will be classified as a component of cost of sales to the extent such payments become due in the future. | Cost of sales consists primarily of salaries and benefits associated with employee efforts expended directly on the production of the Company’s products and include related direct materials, general laboratory supplies and allocation of overhead. Certain of the agreements under which the Company has licensed technology will require the payment of royalties based on the sale of its future products. Such royalties will be recorded as a component of cost of sales. Additionally, the amortization of license fees or milestone payments related to developed technologies used in the Company’s products will be classified as a component of cost of sales to the extent such payments become due in the future. | |||||||||||||||||||||||||||||||||
Research and Development Costs | ' | ' | ||||||||||||||||||||||||||||||||
Research and Development Costs | Research and Development Costs | |||||||||||||||||||||||||||||||||
Research and development costs, which are expensed as incurred, are primarily comprised of costs and expenses for salaries and benefits associated with research and development personnel, overhead and occupancy, contract services, and amortization of license costs for technology used in research and development with alternative future uses. | Research and development costs, which are expensed as incurred, are primarily comprised of costs and expenses for salaries and benefits associated with research and development personnel, overhead and occupancy, contract services, and amortization of license costs for technology used in research and development with alternative future uses. | |||||||||||||||||||||||||||||||||
Stock-Based Compensation | ' | ' | ||||||||||||||||||||||||||||||||
Stock-Based Compensation | ||||||||||||||||||||||||||||||||||
The Company recognized stock-based compensation expense associated with stock options and other stock-based awards in accordance with the authoritative guidance for stock-based compensation. The cost of a stock-based award is measured at the grant date based on the estimated fair value of the award, and is recognized as expense on a straight-line basis, net of estimated forfeitures over the requisite service period of the award. The fair value of stock options is estimated using the Black-Scholes option valuation model, which requires the input of subjective assumptions, including price volatility of the underlying stock, risk-free interest rate, dividend yield, and expected life of the option. The fair value of restricted stock awards is based on the market value of our common stock on the date of grant. | ||||||||||||||||||||||||||||||||||
Fair Value Measurements | ' | ' | ||||||||||||||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements | |||||||||||||||||||||||||||||||||
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Assets and liabilities that are measured at fair value are reported using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: | Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Assets and liabilities that are measured at fair value are reported using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: | |||||||||||||||||||||||||||||||||
Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |||||||||||||||||||||||||||||||
Level 2 | Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and | Level 2 | Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and | |||||||||||||||||||||||||||||||
Level 3 | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | Level 3 | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | |||||||||||||||||||||||||||||||
Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of September 30, 2014 (in thousands): | Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||||||||||||||
The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
ASSETS: | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | ||||||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||||||||
LIABILITIES: | Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | |||||||||||||||||||||||||
Warrants to purchase common stock | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2013 (in thousands): | LIABILITIES: | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | $ | 4,925 | $ | — | $ | — | $ | 4,925 | ||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2012 (in thousands): | ||||||||||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | ||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||||||||
Warrants to purchase common stock | $ | 4,925 | $ | — | $ | — | $ | 4,925 | ASSETS: | |||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | ||||||||||||||||||||||||||
The following table displays the rollforward activity of liabilities with inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity) (in thousands): | ||||||||||||||||||||||||||||||||||
The following table displays the rollforward activity of liabilities with inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity) (in thousands): | ||||||||||||||||||||||||||||||||||
Warrants to | ||||||||||||||||||||||||||||||||||
purchase | ||||||||||||||||||||||||||||||||||
common | Warrants to purchase | |||||||||||||||||||||||||||||||||
stock | common stock | |||||||||||||||||||||||||||||||||
Beginning balance at December 31, 2012 | $ | — | ||||||||||||||||||||||||||||||||
Issuances of warrants | 5,986 | Ending balance at December 31, 2011 | $ | 38 | ||||||||||||||||||||||||||||||
Exercise of warrants | (1,815 | ) | Issuances of warrants | — | ||||||||||||||||||||||||||||||
Adjustments to estimated fair value | 754 | Adjustments to estimated fair value due to expiry | (38 | ) | ||||||||||||||||||||||||||||||
Ending balance at December 31, 2013 | 4,925 | |||||||||||||||||||||||||||||||||
Issuances of warrants | — | Ending balance at December 31, 2012 | — | |||||||||||||||||||||||||||||||
Exercise of warrants | — | Issuances of warrants | 5,986 | |||||||||||||||||||||||||||||||
Adjustments to estimated fair value | (1,894 | ) | Exercise of warrants | (1,815 | ) | |||||||||||||||||||||||||||||
Warrants exchanged for common stock | (3,031 | ) | Adjustments to estimated fair value | 754 | ||||||||||||||||||||||||||||||
Ending balance at September 30, 2014 | $ | — | ||||||||||||||||||||||||||||||||
Ending balance at December 31, 2013 | $ | 4,925 | ||||||||||||||||||||||||||||||||
Income Taxes | ' | ' | ||||||||||||||||||||||||||||||||
Income Taxes | Income Taxes | |||||||||||||||||||||||||||||||||
The Company accounts for income taxes in accordance with applicable authoritative guidance, which requires the Company to provide a net deferred tax asset/liability equal to the expected future tax benefit/expense of temporary reporting differences between book and tax accounting methods and any available operating loss or tax credit carryforwards. | The Company accounts for income taxes in accordance with applicable authoritative guidance, which requires the Company to provide a net deferred tax asset/liability equal to the expected future tax benefit/expense of temporary reporting differences between book and tax accounting methods and any available operating loss or tax credit carryforwards. | |||||||||||||||||||||||||||||||||
Use of Estimates | ' | ' | ||||||||||||||||||||||||||||||||
Use of Estimates | Use of Estimates | |||||||||||||||||||||||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements. Significant estimates include patent life (remaining legal life versus remaining useful life), inventory carrying values and transactions using the Black-Scholes option pricing model, e.g., warrants and stock options, as well as the Monte-Carlo valuation method for certain warrants. Actual results could differ from those estimates. | The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Significant estimates include patent life (remaining legal life versus remaining useful life), inventory carrying values, and transactions using the Black-Scholes option pricing model, e.g., warrants and stock options, as well as the Monte-Carlo valuation method for certain warrants. Actual results could differ from those estimates. | |||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ' | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||
The Company believes that the carrying value of its cash and cash equivalents, receivables, accounts payable and accrued liabilities as of September 30, 2014 and December 31, 2013 approximate their fair values because of the short-term nature of those instruments. The fair value of certain warrants was determined at each quarterly reporting date as necessary using the Monte-Carlo valuation methodology. | The Company believes that the carrying value of its cash and cash equivalents, receivables, accounts payable and accrued liabilities as of December 31, 2013 and 2012 approximate their fair values because of the short-term nature of those instruments. The fair value of certain warrants was determined at each quarterly reporting date as necessary in 2013 and 2012 using the Monte-Carlo valuation methodology. | |||||||||||||||||||||||||||||||||
Income (Loss) Per Common Share | ' | ' | ||||||||||||||||||||||||||||||||
Income (Loss) Per Common Share | Income (Loss) Per Common Share | |||||||||||||||||||||||||||||||||
The computation of net loss per common share is based on the weighted average number of shares outstanding during each period. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the period plus the common stock equivalents, which would arise from the exercise of stock options and warrants outstanding using the treasury stock method and the average market price per share during the period. At September 30, 2014, there were 308,875 non-vested restricted stock awards, 20,770,037 vested and 6,372,173 non-vested stock options outstanding, and 7,762,500 warrants outstanding; and at September 30, 2013, there were 596,250 non-vested restricted stock awards, 67,395,832 shares issuable upon exercise of warrants, and 17,914,518 vested and 5,780,175 non-vested stock options outstanding. These restricted stock awards, stock options and warrants were not included in the diluted loss per share calculation because the effect would have been anti-dilutive. | The computation of net loss per common share is based on the weighted average number of shares outstanding during each period. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the period plus the common stock equivalents, which would arise from the exercise of stock options and warrants outstanding using the treasury stock method and the average market price per share during the period. At December 31, 2013, there were 145,000 non-vested restricted stock awards, 18,958,403 vested and 4,679,290 non-vested stock options outstanding, and 44,983,988 warrants outstanding, which were convertible into 45,650,654 shares of common stock; and at December 31, 2012, there were 335,000 non-vested restricted stock awards, 3,500,000 warrants, and 15,407,902 vested and 7,969,230 non-vested stock options outstanding. These restricted stock awards, stock options and warrants were not included in the diluted loss per share calculation because the effect would have been anti-dilutive. | |||||||||||||||||||||||||||||||||
Comprehensive Income | ' | ' | ||||||||||||||||||||||||||||||||
Comprehensive Income | Comprehensive Income | |||||||||||||||||||||||||||||||||
Comprehensive income or loss includes all changes in equity except those resulting from investments by owners and distributions to owners. The Company did not have any items of comprehensive income or loss other than net loss from operations for the three and nine months ended September 30, 2014 and 2013. | Comprehensive income or loss includes all changes in equity except those resulting from investments by owners and distributions to owners. The Company did not have any items of comprehensive income or loss other than net loss from operations for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
Registration Payment Arrangements | ' | ' | ||||||||||||||||||||||||||||||||
Registration Payment Arrangements | Registration Payment Arrangements | |||||||||||||||||||||||||||||||||
In accordance with applicable authoritative guidance, the Company is required to separately recognize and measure registration payment arrangements, whether issued as a separate agreement or included as a provision of a financial instrument or other agreement. Such payments include penalties for failure to effect a registration of securities. | In accordance with applicable authoritative guidance, the Company is required to separately recognize and measure registration payment arrangements, whether issued as a separate agreement or included as a provision of a financial instrument or other agreement. Such payments include penalties for failure to effect a registration of securities. | |||||||||||||||||||||||||||||||||
Recent Accounting Pronouncements | ' | ' | ||||||||||||||||||||||||||||||||
Recent Accounting Pronouncements | Recent Accounting Pronouncements | |||||||||||||||||||||||||||||||||
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The ASU provides guidance to an organization’s management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations today in the financial statement footnotes. The amendments are effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not intend to early adopt this standard. The adoption of this standard will not have an impact on the financial condition of the Company. | In July 2013, the FASB issued an accounting standards update that provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013, with an option of early adoption. The Company intends to adopt this guidance at the beginning of the first quarter of fiscal year 2014, and do not believe the adoption of this standard will have a material impact on its financial position, results of operations or related financial statement disclosures. | |||||||||||||||||||||||||||||||||
In May 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | ||||||||||||||||||||||||||||||||||
In July 2013, the FASB issued an accounting standards update that provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company has adopted this guidance at the beginning of the first quarter of fiscal year 2014. The adoption of this standard does not have a material impact on the Company’s financial position, results of operations or related financial statement disclosures. | ||||||||||||||||||||||||||||||||||
Intangible Assets | ' | ' | ||||||||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||||||||||
Intangible assets consist of acquired research and development rights used in research and development, and capitalized legal fees related to the acquisition, filing, maintenance, and defense of patents. Patent or patent license amortization only begins once a patent license is acquired or a patent is issued by the appropriate authoritative bodies. In the period in which a patent application is rejected or efforts to pursue the patent are abandoned, all the related accumulated costs are expensed. Patents and patent licenses are recorded at cost of $2,760,000 and $2,083,000 at December 31, 2013 and 2012, respectively, and are amortized on a straight-line basis over the shorter of the lives of the underlying patents or the useful life of the license. Amortization expense for the years ended December 31, 2013 and 2012 amounted to $61,000 and $54,000, respectively, and is included in research and development expense. Accumulated amortization as of December 31, 2013 and 2012 was $510,000 and $449,000, respectively. Additional information regarding patents and patent licenses is included in Note 4. |
Organization_and_Significant_A2
Organization and Significant Accounting Policies (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
Fair Values of Assets and Liabilities | ' | ' | ||||||||||||||||||||||||||||||||
The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of September 30, 2014 (in thousands): | The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | ASSETS: | |||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | ||||||||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||||||||
Warrants to purchase common stock | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||||||||
The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2013 (in thousands): | Warrants to purchase common stock | $ | 4,925 | $ | — | $ | — | $ | 4,925 | |||||||||||||||||||||||||
The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2012 (in thousands): | ||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||
LIABILITIES: | ASSETS: | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | $ | 4,925 | $ | — | $ | — | $ | 4,925 | Cash equivalents | $ | 5 | $ | 5 | $ | — | $ | — | |||||||||||||||||
Fair Value Measurement and Unobservable Rollforward Activity of Liabilities | ' | ' | ||||||||||||||||||||||||||||||||
The following table displays the rollforward activity of liabilities with inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity) (in thousands): | The following table displays the rollforward activity of liabilities with inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity) (in thousands): | |||||||||||||||||||||||||||||||||
Warrants to | Warrants to purchase | |||||||||||||||||||||||||||||||||
purchase | common stock | |||||||||||||||||||||||||||||||||
common | ||||||||||||||||||||||||||||||||||
stock | Ending balance at December 31, 2011 | $ | 38 | |||||||||||||||||||||||||||||||
Beginning balance at December 31, 2012 | $ | — | Issuances of warrants | — | ||||||||||||||||||||||||||||||
Issuances of warrants | 5,986 | Adjustments to estimated fair value due to expiry | (38 | ) | ||||||||||||||||||||||||||||||
Exercise of warrants | (1,815 | ) | ||||||||||||||||||||||||||||||||
Adjustments to estimated fair value | 754 | |||||||||||||||||||||||||||||||||
Ending balance at December 31, 2012 | — | |||||||||||||||||||||||||||||||||
Ending balance at December 31, 2013 | 4,925 | Issuances of warrants | 5,986 | |||||||||||||||||||||||||||||||
Issuances of warrants | — | Exercise of warrants | (1,815 | ) | ||||||||||||||||||||||||||||||
Exercise of warrants | — | Adjustments to estimated fair value | 754 | |||||||||||||||||||||||||||||||
Adjustments to estimated fair value | (1,894 | ) | ||||||||||||||||||||||||||||||||
Warrants exchanged for common stock | (3,031 | ) | ||||||||||||||||||||||||||||||||
Ending balance at December 31, 2013 | $ | 4,925 | ||||||||||||||||||||||||||||||||
Ending balance at September 30, 2014 | $ | — | ||||||||||||||||||||||||||||||||
Inventory_Tables
Inventory (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||||
Summary of the Components of Inventories | ' | ' | ||||||||||||||||
The components of inventories are as follows (in thousands): | The components of inventories are as follows (in thousands): | |||||||||||||||||
September 30, | December 31, | December 31, | December 31, | |||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||
Raw materials | $ | 199 | $ | 147 | ||||||||||||||
Work in process | 454 | 446 | Raw materials | $ | 147 | $ | 276 | |||||||||||
Finished goods | 1,019 | 902 | Work in process | 446 | 211 | |||||||||||||
Finished goods | 902 | 748 | ||||||||||||||||
Total | 1,672 | 1,495 | ||||||||||||||||
Less: allowance for inventory obsolescence | (139 | ) | (126 | ) | ||||||||||||||
Total | 1,495 | 1,235 | ||||||||||||||||
Inventory, net | $ | 1,533 | $ | 1,369 | Less: allowance for inventory obsolescence | (126 | ) | (36 | ) | |||||||||
Inventory, net | $ | 1,369 | $ | 1,199 | ||||||||||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | ' | ||||||||||||||||
Summary of Property and Equipment | ' | ' | ||||||||||||||||
Property and equipment consists of the following (in thousands): | Property and equipment consists of the following (in thousands): | |||||||||||||||||
September 30, | December 31, | December 31, | December 31, | |||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||
Machinery and equipment | $ | 1,348 | $ | 1,170 | ||||||||||||||
Computer equipment | 214 | 246 | Machinery and equipment | $ | 1,170 | $ | 1,072 | |||||||||||
Office equipment | 203 | 203 | Computer equipment | 246 | 347 | |||||||||||||
Leasehold improvements | 757 | 745 | Office equipment | 203 | 225 | |||||||||||||
Construction in progress | 64 | — | Leasehold improvements | 745 | 830 | |||||||||||||
2,586 | 2,364 | |||||||||||||||||
Less: accumulated depreciation and amortization | (1,805 | ) | (1,534 | ) | 2,364 | 2,474 | ||||||||||||
Less: accumulated depreciation and amortization | (1,534 | ) | (1,340 | ) | ||||||||||||||
Property and equipment, net | $ | 781 | $ | 830 | ||||||||||||||
Property and equipment, net | $ | 830 | $ | 1,134 | ||||||||||||||
Depreciation expense for the years ended December 31, 2013 and 2012 were $403,000 and $420,000, respectively. |
Patent_Licenses_Tables
Patent Licenses (Tables) | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ||||||||
Summary of Future Amortization Expense Related to Intangible Assets Subject to Amortization | ' | ' | ||||||||
At September 30, 2014, future amortization expense related to intangible assets subject to amortization is expected to be as follows (in thousands): | At December 31, 2013, future amortization expense related to the intangible assets subject to amortization is expected to be as follows (in thousands): | |||||||||
Amount | Amount | |||||||||
2014 (remaining three months) | $ | 16 | ||||||||
2015 | 62 | 2014 | $ | 62 | ||||||
2016 | 62 | 2015 | 62 | |||||||
2017 | 62 | 2016 | 62 | |||||||
2018 | 62 | 2017 | 62 | |||||||
Thereafter | 2,344 | 2018 | 62 | |||||||
Thereafter | 1,897 | |||||||||
Total | $ | 2,608 | ||||||||
Total | $ | 2,207 | ||||||||
Advances_Tables
Advances (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||
Schedule of Advances from Nonaffiliated Collaboration | ' | ' | ||||||||||||||||
As of September 30, 2014, no revenues were realized from this agreement. | As of December 31, 2013, no revenues were realized from this agreement. | |||||||||||||||||
September 30, | December 31, | December 31, | December 31, | |||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||
BioTime, Inc. (in thousands) | $ | 250 | $ | 250 | ||||||||||||||
BioTime, Inc. (in thousands) | $ | 250 | $ | 250 |
Capital_Stock_Tables
Capital Stock (Tables) | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||
Equity [Abstract] | ' | ' | ||||||||
Summary of Shares of Common Stock Reserved for Future Issuance | ' | ' | ||||||||
At September 30, 2014, the Company had shares of common stock reserved for future issuance as follows: | At December 31, 2013, the Company had shares of common stock reserved for future issuance as follows: | |||||||||
Options outstanding | 27,142,210 | Options outstanding | 23,637,693 | |||||||
Options available for future grant | 8,423,574 | Options available for future grant | 12,793,550 | |||||||
Convertible preferred stock | 89,012,588 | Convertible preferred stock | 47,187,929 | |||||||
Warrants | 7,762,500 | Warrants | 45,650,654 | |||||||
132,340,872 | 129,269,826 | |||||||||
Stock_Options_and_Warrants_Tab
Stock Options and Warrants (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Total Stock-Based Compensation Expense | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total stock-based compensation expense for the three and nine months ended September 30, 2014 and 2013 was comprised of the following (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | $ | 15 | $ | — | $ | 45 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Research and development | 78 | 94 | 221 | 272 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Selling and marketing | 13 | 10 | 36 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General and administrative | 384 | 337 | 910 | 989 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 490 | $ | 441 | $ | 1,212 | $ | 1,291 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Stock Option Award | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of options granted is estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions for the three and nine months ended September 30, 2014 and 2013: | The fair value of options granted is estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | Year ended | Year ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant assumptions (weighted average): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate at grant date | 2 | % | 0 | % | 1.91 | % | 0.95 | % | Significant assumptions (weighted-average): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected stock price volatility | 98.23 | % | 0 | % | 99.65 | % | 118.34 | % | Risk-free interest rate at grant date | 1.02 | % | 0.94 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend payout | 0 | % | 0 | % | 0 | % | 0 | % | Expected stock price volatility | 116.53 | % | 121.9 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected option life based on management’s estimate | 6.1 yrs | 0.0 yrs | 6.1 yrs | 6.1 yrs | Expected dividend payout | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected option life-years based on management’s estimate | 6.08 years | 5.69 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Options Outstanding and Related Exercise Prices for Shares of Company's Common Stock Options Issued | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the changes in options outstanding and the related exercise prices for the Company’s common stock options issued: | The following table summarizes the changes in options outstanding and the related exercise prices for the Company’s common stock options issued: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Weighted | Number of | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options Issued | Weighted | Average | Aggregate | Shares issued | Average Exercise | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Under | Average Exercise | Remaining | Intrinsic | under | Price Per | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2006 Plan and | Price Per | Contractual | Value | 2006 Plan and | Share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2010 Plan | Share | Term | (in thousands) | 2010 Plan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 15,122,900 | $ | 1.18 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 1,491,500 | $ | 0.26 | Outstanding at December 31, 2011 | 14,730,207 | $ | 1.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | Granted | 2,398,000 | $ | 0.38 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | (586,000 | ) | $ | 0.61 | Exercised | (17,500 | ) | $ | 0.22 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | (1,987,807 | ) | $ | 0.78 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 16,028,400 | $ | 1.12 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 4,304,000 | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | Outstanding at December 31, 2012 | 15,122,900 | $ | 1.18 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | (799,483 | ) | $ | 0.53 | Granted | 1,491,500 | $ | 0.26 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at September 30, 2014 | 19,532,917 | $ | 0.93 | 6.47 years | $ | — | Canceled or expired | (586,000 | ) | $ | 0.61 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested and expected to vest at September 30, 2014 | 18,665,045 | $ | 0.97 | 6.33 years | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 16,028,400 | $ | 1.12 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable at September 30, 2014 | 13,160,744 | $ | 1.2 | 5.29 years | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted | Shares issued | Average Exercise | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Weighted | Average | Aggregate | outside | Price Per | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options Issued | Average Exercise | Remaining | Intrinsic | the Plan | Share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outside | Price Per | Contractual | Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
the Plan | Share | Term | (in thousands) | Outstanding at December 31, 2011 | 8,254,232 | $ | 0.65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 8,254,232 | $ | 0.65 | Granted | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | — | $ | — | Exercised | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | Canceled or expired | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | (644,939 | ) | $ | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 7,609,293 | $ | 0.62 | Outstanding at December 31, 2012 | 8,254,232 | $ | 0.65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | — | $ | — | Granted | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | $ | — | Exercised | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceled or expired | — | $ | — | Canceled or expired | (644,939 | ) | $ | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, vested and exercisable at September 30, 2014 | 7,609,293 | $ | 0.62 | 5.11 years | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 7,609,293 | $ | 0.62 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Restricted Stock Award Activity | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the changes in restricted stock award activity and the related weighted average exercise prices for the Company’s awards issued: | The following table summarizes restricted stock award activity during the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted | Restricted | Weighted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued | Stock issued | Average Grant | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
from the | Weighted | from the | Date Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2006 Plan and | Average Grant Date | 2006 Plan and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2010 Plan | Fair Value | 2010 Plan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at December 31, 2012 | 335,000 | $ | 0.32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 961,000 | $ | 0.24 | Unvested at December 31, 2011 | 82,927 | $ | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested | (1,029,750 | ) | $ | 0.27 | Granted | 335,000 | $ | 0.32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited | (121,250 | ) | $ | 0.25 | Vested | (82,927 | ) | $ | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at December 31, 2013 | 145,000 | $ | 0.23 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 865,459 | $ | 0.17 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested | (701,584 | ) | $ | 0.2 | Unvested at December 31, 2012 | 335,000 | $ | 0.32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited | — | $ | — | Granted | 961,000 | $ | 0.24 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vested | (1,029,750 | ) | $ | 0.27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at September 30, 2014 | 308,875 | $ | 0.19 | Forfeited | (121,250 | ) | $ | 0.25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unvested at December 31, 2013 | 145,000 | $ | 0.23 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Outstanding Warrants Related to Warrant Transactions | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share data related to warrant transactions through September 30, 2014 were as follows: | Share data related to warrant transactions as of December 31, 2013 were as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock | Common Stock | Units | Common Stock | Price per Warrant | Preferred | Common | Units | Common Stock | Price | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted | Stock | Stock | per | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Placement | YKA | Skin Care | Jan-13 | Mar-13 | Total | Average | Warrant | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A | Series B | Series A | Series B | Agent | Loan | Marketing | Financing | Financing | Warrants | Range | Exercise Price | Series A | Series B | Series A | Series B | Placement | YKA | BioTime | Bridge | Brookstreet | Skin | Jan | Mar | Total | Range | Weighted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 1,600,000 | 300,000 | — | — | — | 1,400,000 | 200,000 | — | — | 3,500,000 | $ | 0.25-2.00 | $ | 0.336 | Agent | Loan | Loan & | Care | 2013 | 2013 | Warrants | average | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | non- | Marketing | Financing | Financing | exercise | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued | 36,754,822 | 20,000,000 | 666,666 | 5,062,500 | 2,500,000 | 64,983,988 | $ | 0.15-0.200 | $ | 0.156 | cash | price | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | (200,000 | ) | (16,754,822 | ) | (16,954,822 | ) | $ | 0.145-0.15 | $ | 0.147 | Grants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited/Cancelled | (1,600,000 | ) | (300,000 | ) | (3,245,178 | ) | (1,400,000 | ) | (6,545,178 | ) | $ | 0.15-0.250 | $ | 0.198 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2011 | 1,600,000 | 300,000 | 1,400,000 | 30,000 | 1,317,921 | 1,721,629 | 200,000 | 6,569,550 | $0.25- | $ | 0.49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2013 | — | — | 36,554,822 | — | 666,666 | — | 200,000 | 5,062,500 | 2,500,000 | 44,983,988 | $ | 0.145-2.00 | $ | 0.166 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued | — | Issued | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchanged | (36,554,822 | ) | (666,666 | ) | (37,221,488 | ) | $ | 0.15 | $ | 0.15 | Exercised | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | — | Forfeited/Expired | (30,000 | ) | (1,317,921 | ) | (1,721,629 | ) | (3,069,550 | ) | $0.56- | $ | 0.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited/Cancelled | — | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, September 30, 2014 | — | — | — | — | — | — | 200,000 | 5,062,500 | 2,500,000 | 7,762,500 | $ | 0.145-2.00 | $ | 0.24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 1,600,000 | 300,000 | 1,400,000 | — | — | — | 200,000 | 3,500,000 | $0.25- | $ | 0.336 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued | 36,754,822 | 20,000,000 | 666,666 | 5,062,500 | 2,500,000 | 64,983,988 | $0.15- | $ | 0.156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | (200,000 | ) | (16,754,822 | ) | (16,954,822 | ) | $0.145-0.15 | $ | 0.147 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited/Expired | (1,600,000 | ) | (300,000 | ) | (3,245,178 | ) | (1,400,000 | ) | (6,545,178 | ) | $0.15- | $ | 0.198 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2013 | — | — | 36,554,822 | — | 666,666 | — | — | — | — | 200,000 | 5,062,500 | 2,500,000 | 44,983,988 | $0.145-2.00 | $ | 0.166 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Options Outstanding and Related Exercise Prices | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options Outstanding | Options Exercisable and vested | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Prices | Number Outstanding | Weighted Average | Weighted Average | Number | Weighted Average | Weighted Average | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Remaining | Exercise Price | Exercisable | Remaining | Exercise Price | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual Life | Contractual Life | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Years) | (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$0.18-$0.50 | 5,265,300 | 7.1 | $ | 0.37 | 2,727,860 | 5.44 | $ | 0.42 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$0.51-$0.75 | 9,258,093 | 5.93 | $ | 0.62 | 8,898,143 | 5.9 | $ | 0.62 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$0.76-$1.00 | 1,817,000 | 3.33 | $ | 0.99 | 1,794,000 | 3.28 | $ | 0.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$1.01-$1.58 | 1,967,300 | 6.32 | $ | 1.35 | 1,702,400 | 6.26 | $ | 1.36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$1.59-$3.20 | 5,330,000 | 6.9 | $ | 1.97 | 3,836,000 | 6.84 | $ | 1.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
23,637,693 | 6.24 | $ | 0.96 | 18,958,403 | 5.81 | $ | 0.97 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ||||||||
Summary of Future Minimum Lease Payments Required under Operating Leases that Have Initial or Remaining Non-Cancelable Lease Terms in Excess of One Year | ' | ' | ||||||||
Future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of September 30, 2014, are as follows (in thousands): | Future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2013, are as follows (in thousands): | |||||||||
Amount | Amount | |||||||||
2014 (remaining three months) | $ | 97 | ||||||||
2015 | 397 | 2014 | $ | 386 | ||||||
2016 | 101 | 2015 | 397 | |||||||
2017 | 3 | 2016 | 101 | |||||||
2017 | 3 | |||||||||
Total | $ | 598 | ||||||||
Total | $ | 887 | ||||||||
Segments_and_Geographic_Inform1
Segments and Geographic Information (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||
Revenues, Expenses and Operating Income (Loss) by Market Segment | ' | ' | ||||||||||||||||||||||||
Revenues, expenses and operating income (loss) by market segment were as follows (in thousands): | Revenues, expenses and operating income (loss) by market segment were as follows (in thousands): | |||||||||||||||||||||||||
For the Three Months | For the Nine Months | For the Years Ended | ||||||||||||||||||||||||
Ended September 30, | Ended September 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||
Revenues: | Revenues: | |||||||||||||||||||||||||
Cosmeceutical market | $ | 970 | $ | 810 | $ | 2,519 | $ | 2,169 | Cosmeceutical market | $ | 3,204 | $ | 2,192 | |||||||||||||
Biomedical market | 993 | 860 | 2,681 | 2,243 | Biomedical market | 2,943 | 2,375 | |||||||||||||||||||
Total revenues | 1,963 | 1,670 | 5,200 | 4,412 | Total revenues | 6,147 | 4,567 | |||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||||
Therapeutic market | 2,458 | 1,900 | 7,067 | 6,071 | Operating expenses: | |||||||||||||||||||||
Cosmeceutical market | 837 | 787 | 2,410 | 2,129 | Therapeutic market | 8,200 | 9,106 | |||||||||||||||||||
Biomedical market | 702 | 686 | 2,065 | 1,821 | Cosmeceutical market | 2,914 | 2,585 | |||||||||||||||||||
Biomedical market | 2,579 | 2,691 | ||||||||||||||||||||||||
Total operating expenses | 3,997 | 3,373 | 11,542 | 10,021 | ||||||||||||||||||||||
Operating income (loss): | Total operating expenses | 13,693 | 14,382 | |||||||||||||||||||||||
Therapeutic market | (2,458 | ) | (1,900 | ) | (7,067 | ) | (6,071 | ) | ||||||||||||||||||
Cosmeceutical market | 133 | 23 | 109 | 40 | Operating income (loss): | |||||||||||||||||||||
Biomedical market | 291 | 174 | 616 | 422 | Therapeutic market | (8,200 | ) | (9,106 | ) | |||||||||||||||||
Cosmeceutical market | 290 | (393 | ) | |||||||||||||||||||||||
Total operating income (loss) | $ | (2,034 | ) | $ | (1,703 | ) | $ | (6,342 | ) | $ | (5,609 | ) | Biomedical market | 364 | (316 | ) | ||||||||||
Total operating income (loss) | $ | (7,546 | ) | $ | (9,815 | ) | ||||||||||||||||||||
Summary of Significant Revenues in Following Regions | ' | ' | ||||||||||||||||||||||||
Significant revenues in the following regions are those that are attributable to the individual countries within the region to which the product was shipped (in thousands): | Significant revenues in the following regions are those that are attributable to the individual country within the region to which the product was shipped (in thousands): | |||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | For the Years Ended December 31, | ||||||||||||||||||||||||
September 30, | September 30, | 2013 | 2012 | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | North America | $ | 4,779 | $ | 3,483 | ||||||||||||||||||
North America | $ | 1,519 | $ | 1,280 | $ | 4,186 | $ | 3,362 | Asia | 905 | 624 | |||||||||||||||
Asia | 332 | 283 | 672 | 704 | Europe | 355 | 372 | |||||||||||||||||||
Europe | 98 | 66 | 309 | 254 | All other regions | 108 | 88 | |||||||||||||||||||
All other regions | 14 | 41 | 33 | 92 | ||||||||||||||||||||||
Total | $ | 1,963 | $ | 1,670 | $ | 5,200 | $ | 4,412 | Total | $ | 6,147 | $ | 4,567 | |||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Reconciliation of Statutory Federal Income Tax Rate and Effective Income Tax Rate | ' | ||||||||
A reconciliation of the statutory Federal income tax rate and the effective income tax rate for the year ended December 31, 2013 and 2012 follows: | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Statutory federal income tax rate | 35 | % | 35 | % | |||||
Permanent items | (12 | )% | (8 | )% | |||||
State income taxes, net of federal taxes | 4 | % | 4 | % | |||||
Change in valuation allowance | (30 | )% | (30 | )% | |||||
Tax credits claimed | 2 | % | 1 | % | |||||
Other | 1 | % | (2 | )% | |||||
Effective income tax rate | 0 | % | 0 | % | |||||
Summary of Significant Components of Deferred Tax Assets and Liabilities | ' | ||||||||
Significant components of deferred tax assets and liabilities are as follows (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Deferred tax assets (liabilities) | |||||||||
Current deferred tax assets (liabilities) | $ | 298 | $ | 120 | |||||
Deferred revenues | — | — | |||||||
Current deferred tax assets | 298 | 120 | |||||||
Valuation allowances | (298 | ) | (120 | ) | |||||
Net current deferred tax assets | $ | — | $ | — | |||||
Net operating loss carryforwards | 19,224 | 17,150 | |||||||
Stock based compensation | 2,987 | 2,532 | |||||||
Research and development tax credit | 1,627 | 1,206 | |||||||
Other | 51 | 10 | |||||||
Non-current deferred tax assets | 23,889 | 20,898 | |||||||
Valuation allowances | (23,884 | ) | (20,882 | ) | |||||
Net non-current deferred tax assets | 5 | 16 | |||||||
Non-current deferred tax liabilities | (5 | ) | (16 | ) | |||||
Net deferred tax assets | $ | — | $ | — | |||||
Summary of Components of Provision for Income Taxes | ' | ||||||||
The components of the provision for income taxes were as follows: | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Current | $ | — | $ | — | |||||
Deferred | — | — | |||||||
Total | $ | — | $ | — | |||||
Organization_and_Significant_A3
Organization and Significant Accounting Policies - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 2 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Jul. 19, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Dec. 31, 2013 | Jul. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 22, 2013 | Dec. 31, 2011 | Jul. 01, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 | Mar. 10, 2014 | Mar. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Jul. 19, 2013 | Dec. 31, 2013 | Dec. 11, 2013 | Mar. 10, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 10, 2014 | Sep. 30, 2014 | Oct. 24, 2013 | Jul. 24, 2013 | Jul. 19, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Jun. 11, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Research and Development [Member] | Research and Development [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Working capital [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Allowance for Sales Returns [Member] | Allowance for Sales Returns [Member] | Lincoln Park Capital Fund, LLC [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Cell Technology [Member] | Cell Technology [Member] | Cell Technology [Member] | Cell Technology [Member] | |||||||||||||||||||
Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Organization And Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership in issued and outstanding shares of common stock parent Company | ' | ' | ' | ' | ' | ' | ' | 93.70% | ' | 93.70% | ' | 93.70% | ' | 93.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock in subsidiary Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Burn rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $495,000 | ' | $470,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures and patent costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential common stock value to be sold | ' | ' | ' | ' | ' | ' | ' | 10,250,000 | ' | ' | ' | ' | ' | 10,250,000 | ' | ' | ' | ' | ' | ' | 10,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | ' | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,866,666 | ' | ' | 1,666,666 | ' | 0 | 8,200,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,838,000 | ' | ' | 250,000 | 817,000 | ' | 1,588,000 | 817,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, share issued | ' | ' | ' | 5,000,000 | ' | ' | ' | 151,175,053 | ' | 224,274,073 | ' | 224,274,073 | ' | 151,175,053 | 87,388,815 | 10,125,000 | ' | ' | ' | ' | ' | 3,800,000 | 16,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,444,445 | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common stock | 400,000 | 600,000 | 2,377,000 | 1,000,000 | 2,025,000 | 550,000 | 500,000 | ' | ' | ' | ' | 3,646,000 | 6,289,000 | 6,538,000 | 2,084,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 497,000 | ' | ' | 0 | 1,588,000 | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | 497,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,963,000 | 1,670,000 | 5,200,000 | 4,412,000 | 6,147,000 | 4,567,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted cash | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | 50,000 | ' | 50,000 | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts | ' | ' | ' | ' | ' | ' | ' | 19,000 | ' | 19,000 | ' | 19,000 | ' | 19,000 | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life of property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of revenue contributed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.00% | 51.00% | 52.00% | 48.00% | 52.00% | 49.00% | 48.00% | 52.00% |
Period of right of return guarantee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for sales returns | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net deferred revenue | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | 0 | ' | 0 | ' | 3,000 | 233,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested restricted stock awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 308,875 | 145,000 | 596,250 | 335,000 | 82,927 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vested stock options outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,914,518 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,770,037 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options outstanding, non-vested | ' | ' | ' | ' | ' | ' | ' | 4,679,290 | ' | ' | 5,780,175 | ' | 5,780,175 | 4,679,290 | 7,969,230 | ' | ' | ' | ' | ' | ' | ' | ' | 6,372,173 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding | ' | ' | ' | ' | ' | ' | ' | 44,983,988 | ' | 7,762,500 | ' | 7,762,500 | ' | 44,983,988 | 3,500,000 | ' | 6,569,550 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,554,822 | 36,554,822 | 0 | 10,088,154 | 7,762,500 | 44,983,988 | ' | 200,000 | ' | 200,000 | ' | ' | ' | ' | ' |
Number of shares issuable upon exercise of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67,395,832 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Patent costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock value | ' | ' | ' | ' | ' | ' | ' | 151,000 | ' | 224,000 | ' | 224,000 | ' | 151,000 | 87,000 | ' | ' | ' | ' | ' | ' | 817,000 | 3,266,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common stock and warrants | ' | ' | ' | ' | ' | ' | ' | ' | 2,377,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from exercise of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 242,000 | 2,386,000 | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 497,000 | ' | ' | ' | ' | ' | ' | 1,722,000 | ' | ' | 2,144,000 | 242,000 | 2,356,000 | 497,000 | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock and warrants | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercise | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,054,822 | 1,700,000 | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration date of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24-Oct-13 | 24-Oct-13 | 24-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Patents and patent licenses | ' | ' | ' | ' | ' | ' | ' | 2,760,000 | ' | ' | ' | ' | ' | 2,760,000 | 2,083,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000 | 15,000 | 47,000 | 45,000 | ' | ' | ' | ' | ' | 61,000 | 54,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated amortization | ' | ' | ' | ' | ' | ' | ' | 510,000 | ' | 556,000 | ' | 556,000 | ' | 510,000 | 449,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment losses on long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,000 | 190,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate of return under 30-day product guarantee | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | 3.00% | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for sales returns | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
One-time recognition of prior deferred revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 277,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prior deferred cost of sales | ' | ' | ' | ' | ' | ' | ' | $21,000 | ' | ' | ' | ' | ' | $21,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock reserved for future issuance net | ' | ' | ' | ' | ' | ' | ' | 129,269,826 | ' | 132,340,872 | ' | 132,340,872 | ' | 129,269,826 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Vested stock options outstanding | ' | ' | ' | ' | ' | ' | ' | 18,958,403 | ' | ' | ' | ' | ' | 18,958,403 | 15,407,902 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding converted into common stock | ' | ' | ' | 2,500,000 | ' | ' | ' | 45,650,654 | ' | ' | ' | ' | ' | 45,650,654 | ' | 5,062,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Organization_and_Significant_A4
Organization and Significant Accounting Policies - Fair Values of Assets and Liabilities (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
ASSETS: | ' | ' | ' |
Cash equivalents | $5 | $5 | $5 |
LIABILITIES: | ' | ' | ' |
Warrants to purchase common stock | ' | 4,925 | ' |
Level 1 [Member] | ' | ' | ' |
ASSETS: | ' | ' | ' |
Cash equivalents | 5 | 5 | 5 |
Level 3 [Member] | ' | ' | ' |
LIABILITIES: | ' | ' | ' |
Warrants to purchase common stock | ' | $4,925 | ' |
Organization_and_Significant_A5
Organization and Significant Accounting Policies - Fair Value Measurement and Unobservable Rollforward Activity of Liabilities (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Ending balance | ' | $4,925 | ' |
Warrants [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Beginning balance | 4,925 | ' | 38 |
Issuances of warrants | ' | 5,986 | ' |
Exercise of warrants | ' | -1,815 | ' |
Adjustments to estimated fair value due to expiry | ' | ' | -38 |
Adjustments to estimated fair value | -1,894 | 754 | ' |
Warrants exchanged for common stock | -3,031 | ' | ' |
Ending balance | ' | $4,925 | ' |
Inventory_Summary_of_the_Compo
Inventory - Summary of the Components of Inventories (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Inventory Disclosure [Abstract] | ' | ' | ' |
Raw materials | $199 | $147 | $276 |
Work in process | 454 | 446 | 211 |
Finished goods | 1,019 | 902 | 748 |
Total | 1,672 | 1,495 | 1,235 |
Less: allowance for inventory obsolescence | -139 | -126 | -36 |
Inventory, net | $1,533 | $1,369 | $1,199 |
Property_and_Equipment_Summary
Property and Equipment - Summary of Property and Equipment (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | $2,586 | $2,364 | $2,474 |
Less: accumulated depreciation and amortization | -1,805 | -1,534 | -1,340 |
Property and equipment, net | 781 | 830 | 1,134 |
Machinery and Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 1,348 | 1,170 | 1,072 |
Computer Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 214 | 246 | 347 |
Office Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 203 | 203 | 225 |
Leasehold Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 757 | 745 | 830 |
Construction in Progress [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | $64 | ' | ' |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' | ' | ' |
Depreciation expense | $101,000 | $100,000 | $302,000 | $301,000 | $403,000 | $420,000 |
Patent_Licenses_Additional_Inf
Patent Licenses - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | 14-May-04 | Feb. 13, 2004 | Dec. 31, 2003 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 07, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 07, 2013 | Feb. 07, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
UMass IP [Member] | UMass IP [Member] | UMass IP [Member] | UMass IP [Member] | UMass IP [Member] | ACT IP [Member] | ACT IP [Member] | ||||||||||||
Installment | Installment | Minimum [Member] | Maximum [Member] | |||||||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option and license fees | $3,164,000 | $2,760,000 | $400,000 | $22,500 | $340,000 | ' | ' | ' | ' | $340,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Obligation to pay royalties (Ranged) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 12.00% | ' | ' |
Royalties percentage of net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' |
Minimum annual license fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | 150,000 | ' | ' | ' | ' |
Number of installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | ' | ' | ' | ' | ' |
Patent acquisition costs | ' | ' | ' | ' | ' | 2,417,000 | ' | 2,417,000 | ' | 1,970,000 | ' | ' | ' | ' | ' | ' | 747,000 | 747,000 |
Amortization expense | ' | ' | ' | ' | ' | 16,000 | 15,000 | 47,000 | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated amortization | ' | ' | ' | ' | ' | $556,000 | ' | $556,000 | ' | $510,000 | $449,000 | ' | ' | ' | ' | ' | ' | ' |
Patent_Licenses_Summary_of_Fut
Patent Licenses - Summary of Future Amortization Expense Related to Intangible Assets Subject to Amortization (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
2014 (remaining three months) | $16 | ' |
2014 | ' | 62 |
2015 | 62 | 62 |
2016 | 62 | 62 |
2017 | 62 | 62 |
2018 | 62 | 62 |
Thereafter | 2,344 | 1,897 |
Total | $2,608 | $2,207 |
Advances_Additional_Informatio
Advances - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 18, 2008 |
Advances [Abstract] | ' | ' | ' | ' |
Advances from nonaffiliated collaboration | $250,000 | $250,000 | $250,000 | $250,000 |
Specified amount of revenue to be utilized for advances | ' | ' | ' | 250,000 |
Revenue realized from agreement | $0 | $0 | ' | ' |
Advances_Schedule_of_Advances_
Advances - Schedule of Advances from Nonaffiliated Collaboration (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 18, 2008 |
In Thousands, unless otherwise specified | ||||
Advances [Abstract] | ' | ' | ' | ' |
Advances from nonaffiliated collaboration | $250 | $250 | $250 | $250 |
Capital_Stock_Additional_Infor
Capital Stock - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 19, 2013 | Dec. 31, 2012 |
Equity [Abstract] | ' | ' | ' | ' |
Common stock, shares authorized | 600,000,000 | 300,000,000 | ' | 300,000,000 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | ' | ' |
Common stock, par value | $0.00 | $0.00 | $0.00 | $0.00 |
Preferred stock, par value | $0.00 | $0.00 | ' | ' |
Capital_Stock_Series_B_Preferr
Capital Stock - Series B Preferred Stock Transactions - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Mar. 12, 2013 | Jan. 22, 2013 | 12-May-08 | Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Sep. 30, 2014 | Aug. 31, 2013 | Jul. 31, 2013 | Jan. 22, 2013 | Mar. 31, 2013 | 12-May-08 | Jul. 24, 2013 | 31-May-08 | 12-May-08 | Dec. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | 31-May-08 | Sep. 30, 2014 | Dec. 31, 2008 | Jul. 24, 2013 | Dec. 31, 2012 | Jun. 30, 2010 | 31-May-08 | 12-May-08 | |
Investor | Common Stock [Member] | Series B Warrants [Member] | Series B Warrants [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 B Preferred Stock [Member] | Series B Preferred Stock [Member] | ||||||||||||
Common Stock [Member] | Common Stock [Member] | |||||||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of accredited investors | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of units issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Series B Preferred Stock for each Series B unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' |
Number of warrants to purchase common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock purchase price, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of preferred stock and warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $400,000 | $400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion ratio for each share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 |
Initial conversion price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercisable price | ' | ' | $0.20 | ' | ' | ' | ' | ' | ' | $0.25 | $0.15 | $0.20 | ' | ' | $0.15 | $0.50 | $0.50 | ' | ' | ' | $0.50 | ' | ' | $0.15 | ' | ' | ' | ' |
Number of years from issuance of warrants to convert as common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance price per share | $0.09 | $0.10 | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible preferred stock, conversion price | ' | ' | ' | ' | ' | $0.15 | $0.20 | $0.07 | $0.64 | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | $0.15 | $0.20 | ' | $0.07 | ' | ' | ' | ' | ' | ' |
Liquidation premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | 300,000 | ' | ' | 300,000 | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | 300,000 | ' | ' | 300,000 | ' | ' | ' |
Anti-dilution provisions related to warrants and exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.25 | ' | ' |
Capital_Stock_Series_C_Preferr
Capital Stock - Series C Preferred Stock Transactions - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Sep. 30, 2014 | Jan. 22, 2013 | Mar. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 23, 2008 | Aug. 20, 2008 | Sep. 23, 2008 | Aug. 20, 2008 | Dec. 31, 2008 | Sep. 30, 2014 | Dec. 31, 2013 | Jan. 22, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | |||||||||||
Common Stock [Member] | |||||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | 27,568,000 | 37,991,000 | 5,000,000 | 1,300,000 | 700,000 | 1,300,000 | 700,000 | ' | ' | ' | ' | ' | ' |
Issuance price per share | $0.09 | $0.10 | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | ' | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible preferred stock, conversion price | ' | ' | ' | ' | ' | ' | $0.15 | $0.20 | $0.07 | $0.64 | ' | ' | ' | ' | ' | ' | $0.25 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | 2,000,000 | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | 2,000,000 | ' |
Convertible shares of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.25 | ' | $0.25 | ' | ' | ' | $0.25 | ' | ' |
Issuance of common stock from conversion of Series C preferred stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | 8,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 |
Total number of shares of common stock sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Liquidation premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' |
Conversion of convertible shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital_Stock_Series_D_Preferr
Capital Stock - Series D Preferred Stock Transactions - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2012 | Mar. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 30, 2008 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 30, 2008 | Dec. 30, 2008 | |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | ||||||||||||
X-Master Inc. [Member] | Dr. Andrey Semechkin [Member] | ||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | 27,568,000 | 37,991,000 | 5,000,000 | 43 | ' | ' | ' | ' | ' | 10 | 33 |
Total proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,700,000 | ' | ' | ' | ' | ' | ' | ' |
Issuance price per share | $0.09 | $0.10 | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43 | 43 | ' | 43 | ' | ' |
Convertible preferred stock, conversion price | ' | ' | ' | ' | ' | ' | $0.15 | $0.20 | $0.07 | $0.64 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, value authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | 50 | ' | 50 | 50 | ' | 50 | ' | ' |
Preferred stock price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43 | 43 | ' | 43 | ' | ' |
Rate of preferred stock dividend and redemption premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 10.00% | ' | ' | ' |
Number of days with in dividend declared after each quarter end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 days | ' | ' | ' | ' |
Common stock issued upon conversion, conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | $0.15 | ' | ' | ' | ' | ' |
Dividend paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 237,000 | ' | ' | ' | ' |
Accrued dividend on preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $222,000 | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' |
Capital_Stock_Series_G_Preferr
Capital Stock - Series G Preferred Stock Transactions - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 9-May-12 | Mar. 09, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | 9-May-12 | Mar. 09, 2012 | Jun. 30, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Mar. 09, 2012 | Jun. 30, 2014 | |
Minimum [Member] | Maximum [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | ||||||||||||
Directors | Directors | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Co Chairman Chief Executive Officer Chief Scientific Officer And Director [Member] | AR Partners, LLC [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | |||||||||||||||||||||||
Minimum [Member] | Maximum [Member] | Co Chairman Chief Executive Officer Chief Scientific Officer And Director [Member] | |||||||||||||||||||||||||||||||||
Changes In Equity And Comprehensive Income Line Items [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | ' | ' | 27,568,000 | 37,991,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' |
Issuance price per share | $0.09 | $0.10 | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | $0.09 | $0.10 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | $0.15 | ' | ' | ' | $1 | ' |
Total proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,000,000 | ' |
Convertible preferred stock, conversion price | ' | ' | ' | ' | ' | ' | $0.15 | $0.20 | $0.07 | $0.64 | ' | ' | ' | ' | ' | ' | ' | $0.40 | $0.40 | $0.30 | $0.37 | $0.25 | $0.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion ratio for each share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | 2.5 | 3.28 | 2.67 | 4.0025 | 3.291 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Redeemable Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 5,000,000 | 5,000,000 | ' | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of directors to be nominated by preferred shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of independent directors out of directors to be nominated by preferred shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Legal costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59,000 | ' | ' | ' | 59,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Redeemable Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | $0.19 | ' | ' | $0.18 | $0.22 | ' | ' | ' |
Convertible shares of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | $0.10 |
Rate of preferred stock dividend and redemption premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reversal of dividend accreted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 93,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 93,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of preferred stock dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 237,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued dividend on preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 222,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total deemed dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,375,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued upon conversion, conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Preferred Stock conversion ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.28 | 2.67 | ' | 3.291 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital_Stock_2013_Securities_
Capital Stock - 2013 Securities Purchase Agreements for Common Stock - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Jul. 19, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2013 | Jul. 31, 2013 | Jan. 22, 2013 | |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | ' | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | ' |
Issuance price per share | $0.09 | $0.10 | ' | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of common stock | $400,000 | $600,000 | $2,377,000 | $1,000,000 | $2,025,000 | $550,000 | $500,000 | $3,646,000 | $6,289,000 | $6,538,000 | $2,084,000 | ' | ' | ' |
Warrant, term | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Percentage of Warrants to common stock purchased | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding convertible into common stock | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | 45,650,654 | ' | ' | ' | 5,062,500 |
Warrants exercisable price | ' | ' | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | $0.25 | $0.15 | $0.20 |
Co-Chairman and Chief Executive Officer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of common stock | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant, term | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding convertible into common stock | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital_Stock_2013_S1_July_Reg
Capital Stock - 2013 S-1 July Registered Offering - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Jun. 16, 2014 | Jul. 24, 2013 | Jul. 19, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Jul. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2013 | Jul. 19, 2013 | Jan. 22, 2013 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jul. 19, 2013 | Dec. 31, 2013 | Jul. 19, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 24, 2013 | Jul. 19, 2013 | Jul. 24, 2013 | Dec. 31, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Jul. 31, 2013 | Jul. 19, 2013 | Jul. 24, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Jun. 11, 2014 | Jun. 11, 2014 | Jul. 19, 2013 | Jun. 11, 2014 | Oct. 24, 2013 | Oct. 24, 2013 | Jul. 24, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Jul. 24, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | |
Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | U.S. Treasury Notes [Member] | Co-Chairman and Chief Executive Officer [Member] | Co-Chairman and Chief Executive Officer [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Placement Agent Warrants [Member] | Placement Agent Warrants [Member] | Placement Agent Warrants [Member] | Placement Agent Warrants [Member] | Placement Agent Warrants [Member] | Units [Member] | Units [Member] | Units [Member] | Units [Member] | Units [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Units and Series B Warrants [Member] | |||||||||||||||||||||
Subscription Agreements [Member] | Subscription Agreements [Member] | Subscription Agreements [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Subscription Agreements [Member] | Placement Agent Warrants [Member] | Adjusted [Member] | Co-Chairman and Chief Executive Officer [Member] | Company's Chief Scientific Officer [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Subscription Agreements [Member] | Subscription Agreements [Member] | Subscription Agreements [Member] | Subscription Agreements [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Co-Chairman and Chief Executive Officer [Member] | Company's Chief Scientific Officer [Member] | Co-Chairman and Chief Executive Officer [Member] | Company's Chief Scientific Officer [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares/warrants included in units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | 20,000,000 | 16,754,822 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | ' | $0.00 | ' | $0.00 | $0.00 | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercisable price | ' | ' | ' | ' | ' | $0.20 | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | $0.25 | ' | $0.20 | ' | $2 | $2 | $2 | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | $0.15 | ' | $0.15 | ' | ' | ' | ' | $0.15 | ' | ' | ' | $0.15 | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of warrants issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64,983,988 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 666,666 | ' | ' | ' | ' | ' | ' | ' | ' | 667,667 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 5,998,999 | ' | ' |
Proceeds from sale of units and warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,377,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,000,000 |
Number of units issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 16,754,822 | ' | 5,998,999 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 667,667 | ' |
Percentage of agent fee on gross proceeds from Offering | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount of reimbursement payable to agent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of agent warrants to purchase on units issued in offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, term | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '65 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Agent cash solicitation fee on gross proceeds | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | $0.15 | $0.15 | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' |
Number of Series B warrants issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration date of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24-Oct-13 | 24-Oct-13 | ' | ' | 24-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of common stock | 400,000 | 600,000 | ' | ' | 2,377,000 | 1,000,000 | 2,025,000 | 550,000 | 500,000 | ' | ' | ' | 3,646,000 | 6,289,000 | 6,538,000 | 2,084,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | 497,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 497,000 | ' | ' | ' | ' |
Proceeds from exercise of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 242,000 | 2,386,000 | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 497,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | 1,722,000 | ' | ' | ' | ' | ' | 2,144,000 | 242,000 | 2,356,000 | 634,000 | ' | ' | 497,000 | ' | ' | ' | ' |
Number of warrants exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,954,822 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | 12,304,822 | 12,304,822 | ' | ' | ' | ' | ' | ' | 16,754,822 | 4,450,000 | 2,754,821 | 667,667 | ' | ' | ' | ' | ' |
Adjusted exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | ' | ' | ' | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants expired unexercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,245,178 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,762,500 | ' | 7,762,500 | ' | 44,983,988 | 3,500,000 | ' | ' | ' | 6,569,550 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 666,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,554,822 | 0 | ' | 10,088,154 | ' | 666,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock reserved for future issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' | 37,888,154 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,554,822 | ' | 36,554,822 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.21 | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock price volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 84.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk free interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.55% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected option life-years based on management's estimate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years 29 days | '5 years 8 months 9 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years 6 months 22 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years 6 months 22 days | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Monte-Carlo simulation model | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants expiration, date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2013-10-24 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of warrant liability in excess of proceeds | ' | ' | ' | 1,390,000 | ' | ' | ' | ' | ' | ' | ' | 1,390,000 | ' | 1,390,000 | 1,390,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of warrants at issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000 | 115,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,725,000 | 1,725,000 | ' | ' | ' | ' | ' | ' | ' | 2,645,000 | ' | ' | 2,645,000 | 2,645,000 | ' | 2,645,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant liabilities | ' | ' | ' | 4,485,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,925,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in fair value of warrants | ' | ' | 1,271,000 | ' | ' | ' | ' | ' | ' | ' | 0 | 27,000 | 1,894,000 | 27,000 | -754,000 | 38,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 754,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,245,178 | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 738,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,096,000 | $1,537,000 | $2,103,000 | $2,933,000 | $18,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital_Stock_2014_Securities_
Capital Stock - 2014 Securities Purchase Agreements for Common Stock - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 10, 2014 | Aug. 06, 2014 | Jul. 19, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | ' | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' |
Common stock value per share | ' | ' | ' | ' | ' | $0.10 | $0.15 | ' | ' | ' | ' |
Proceeds from sale of common stock | $400,000 | $600,000 | $2,377,000 | $1,000,000 | $2,025,000 | $550,000 | $500,000 | $3,646,000 | $6,289,000 | $6,538,000 | $2,084,000 |
Issuance price per share | $0.09 | $0.10 | ' | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' |
Capital_Stock_2014_Warrant_Exc
Capital Stock - 2014 Warrant Exchange Agreements - Additional Information (Detail) | 0 Months Ended | ||||
Jun. 11, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Number of shares of common stock issued for warrant exchange | 44,665,783 | ' | ' | ' | ' |
Common stock reserved for future issuance | ' | 0 | 37,888,154 | ' | ' |
Warrants outstanding | ' | 7,762,500 | 44,983,988 | 3,500,000 | 6,569,550 |
Placement Agent Warrants [Member] | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Warrants outstanding | ' | 0 | 666,666 | ' | ' |
Series A Warrants [Member] | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Common stock reserved for future issuance | 36,554,822 | ' | 36,554,822 | ' | ' |
Warrants outstanding | ' | 0 | 36,554,822 | ' | ' |
Series A Warrants [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Number of shares of common stock issued for warrant exchange | 12,105,784 | ' | ' | ' | ' |
Series A Warrants [Member] | Placement Agent Warrants [Member] | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Warrants outstanding | 666,666 | ' | ' | ' | ' |
Capital_Stock_2013_Lincoln_Par
Capital Stock - 2013 Lincoln Park Capital Fund, LLC Stock Purchase Agreement - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 2 Months Ended | |||||||||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Jul. 19, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 11, 2013 | Mar. 10, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 10, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Subsequent Event [Member] | Common Stock Purchase Agreement [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | |||||||||||||
Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | ||||||||||||||||
Subsequent Event [Member] | Limit One [Member] | Limit One [Member] | Limit Two [Member] | Limit Two [Member] | Limit Three [Member] | Limit Three [Member] | Minimum [Member] | Minimum [Member] | ||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential common stock value to be sold | ' | ' | ' | ' | ' | ' | ' | $10,250,000 | ' | ' | $10,250,000 | ' | $10,250,000 | ' | ' | $10,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | ' | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | ' | 9,866,666 | 1,666,666 | ' | 0 | 8,200,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,838,000 | 250,000 | 817,000 | ' | 1,588,000 | 817,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash fee paid for commitment to purchase additional shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 155,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of common stock | 400,000 | 600,000 | 2,377,000 | 1,000,000 | 2,025,000 | 550,000 | 500,000 | ' | 3,646,000 | 6,289,000 | 6,538,000 | 2,084,000 | ' | ' | ' | ' | ' | 0 | 1,588,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential number of shares of common stock to be sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,133,334 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential common stock value to be sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,412,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares authorized to purchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | 300,000 | 300,000 | 400,000 | 400,000 | ' | ' |
Closing price of common stock | ' | ' | ' | ' | ' | ' | ' | $0.21 | ' | ' | $0.21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.05 | $0.05 |
Common stock value under stock purchase agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000 | $500,000 |
Capital_Stock_Aspire_Common_St
Capital Stock - Aspire Common Stock Purchase Agreement - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Jul. 19, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 09, 2010 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 09, 2010 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Aspire Capital Fund, LLC [Member] | Aspire Capital Fund, LLC [Member] | Aspire Capital Fund, LLC [Member] | Aspire Capital Fund, LLC [Member] | Aspire Capital Fund, LLC [Member] | Aspire Capital Fund, LLC [Member] | Aspire Capital Fund, LLC [Member] | Aspire Capital Fund, LLC [Member] | ||||||||||||
Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Registration Rights [Member] | Registration Rights [Member] | Registration Rights [Member] | Registration Rights [Member] | ||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum commitment under stock purchase agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,000,000 | ' | ' | ' | ' | ' | ' | ' |
Purchase agreement expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-13 | 31-Dec-13 | ' | ' | ' | ' | ' |
Common stock purchase agreement period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | ' | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,200,000 | 1,200,000 | 5,000,000 |
Proceeds from sale of common stock | 400,000 | 600,000 | 2,377,000 | 1,000,000 | 2,025,000 | 550,000 | 500,000 | 3,646,000 | 6,289,000 | 6,538,000 | 2,084,000 | ' | ' | ' | ' | 0 | 264,000 | 264,000 | 2,084,000 |
Number of purchase agreement shares sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 333,333 | ' | ' | ' | ' | ' | ' | ' |
Common stock sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000 | ' | ' | ' | ' | ' | ' | ' |
Capital commitment fees on common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' |
Capital_Stock_Summary_of_Share
Capital Stock - Summary of Shares of Common Stock Reserved for Future Issuance (Detail) | Sep. 30, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares of common stock reserved for future issuance net | 132,340,872 | 129,269,826 |
Options Outstanding [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares of common stock reserved for future issuance net | 27,142,210 | 23,637,693 |
Options Available for Future Grant [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares of common stock reserved for future issuance net | 8,423,574 | 12,793,550 |
Convertible Preferred Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares of common stock reserved for future issuance net | 89,012,588 | 47,187,929 |
Warrants [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares of common stock reserved for future issuance net | 7,762,500 | 45,650,654 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' |
Related party rent expense | $41,000 | $39,000 | $122,000 | $118,000 | $137,000 | $113,000 |
Reversal of dividend accreted | ' | ' | ' | ' | ' | 93,000 |
Series G Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' |
Reversal of dividend accreted | ' | ' | ' | ' | ' | 93,000 |
Series D Preferred and Series G Preferred [Member] | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' |
Accrued dividend paid | ' | ' | ' | ' | $0 | $0 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' |
Provision for income taxes | $0 | $0 | $0 | $0 | $0 | $0 |
Operating Loss Carryforwards, Expiration Date | ' | ' | ' | ' | 'Various years through 2033 | ' |
Increase in operating loss carryforwards | ' | ' | ' | ' | 5,159,000 | ' |
Operating loss carryforwards | ' | ' | ' | ' | 48,913,000 | 43,754,000 |
Net deferred tax asset recognized | ' | ' | ' | ' | $0 | $0 |
Change period for unrecognized tax benefits | ' | ' | ' | ' | '12 months | ' |
Stock_Options_and_Warrants_Sto
Stock Options and Warrants - Stock Options - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2006 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2010 | Sep. 30, 2014 | Dec. 31, 2009 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | |
2006 Plan [Member] | 2006 Plan [Member] | 2006 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | Outside Plan [Member] | Outside Plan [Member] | 2006 Plan and 2010 Plan [Member] | 2006 Plan and 2010 Plan [Member] | 2006 Plan and 2010 Plan [Member] | 2006 Plan and 2010 Plan [Member] | 2006 Plan and 2010 Plan [Member] | |||||||
Maximum [Member] | Maximum [Member] | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of options that may be granted | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | 18,000,000 | ' | ' | ' | ' | ' | ' | ' |
Expiry of options | ' | ' | ' | ' | ' | ' | '10 years | '10 years | ' | '10 years | '10 years | ' | '10 years | ' | ' | '10 years | ' | '10 years | ' |
Options granted to employees, directors and consultants | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | 18,000,000 | ' | 10,257,593 | 4,304,000 | 1,491,500 | 2,398,000 | ' | ' |
Options vesting terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '50 months | ' | ' | '50 months | ' | ' | ' |
Unrecognized compensation expense related to stock options | $1,144,000 | ' | $1,144,000 | ' | $1,864,000 | $3,367,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost related to unvested shares expected to be recognized, weighted-average period | ' | ' | '1 year 9 months 18 days | ' | '1 year 7 months 6 days | '2 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | $490,000 | $441,000 | $1,212,000 | $1,291,000 | $1,693,000 | $2,361,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years |
Stock_Options_and_Warrants_Sch
Stock Options and Warrants - Schedule of Total Stock-Based Compensation Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | $490 | $441 | $1,212 | $1,291 | $1,693 | $2,361 |
Cost of Sales [Member] | ' | ' | ' | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 15 | ' | 45 | ' | ' | ' |
Research and Development [Member] | ' | ' | ' | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 78 | 94 | 221 | 272 | ' | ' |
Selling and Marketing [Member] | ' | ' | ' | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 13 | 10 | 36 | 30 | ' | ' |
General and Administrative [Member] | ' | ' | ' | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | $384 | $337 | $910 | $989 | ' | ' |
Stock_Options_and_Warrants_Fai
Stock Options and Warrants - Fair Value of Stock Option Award, Weighted Average Assumptions (Detail) | 12 Months Ended | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Options Available for Future Grant [Member] | Options Available for Future Grant [Member] | Options Available for Future Grant [Member] | Options Available for Future Grant [Member] | |||
Significant assumptions (weighted average): | ' | ' | ' | ' | ' | ' |
Risk-free interest rate at grant date | 1.02% | 0.94% | 2.00% | 0.00% | 1.91% | 0.95% |
Expected stock price volatility | 116.53% | 121.90% | 98.23% | 0.00% | 99.65% | 118.34% |
Expected dividend payout | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Expected option life based on management's estimate | '6 years 29 days | '5 years 8 months 9 days | '6 years 1 month 6 days | '0 years | '6 years 1 month 6 days | '6 years 1 month 6 days |
Stock_Options_and_Warrants_Sum
Stock Options and Warrants - Summary of Changes in Options Outstanding and Related Exercise Prices for Shares of Company's Common Stock Options Issued (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2009 | Dec. 31, 2011 |
2006 Plan and 2010 Plan [Member] | 2006 Plan and 2010 Plan [Member] | 2006 Plan and 2010 Plan [Member] | Outside Plan [Member] | Outside Plan [Member] | Outside Plan [Member] | Outside Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares, Outstanding, Beginning balance | ' | ' | ' | ' | ' | 7,609,293 | ' | ' | 8,254,232 |
Number of Shares, Outstanding, Beginning balance | ' | ' | 16,028,400 | 15,122,900 | 14,730,207 | ' | 8,254,232 | ' | ' |
Number of Shares, Granted | ' | ' | 4,304,000 | 1,491,500 | 2,398,000 | ' | ' | 10,257,593 | ' |
Number of Shares, Exercised | ' | ' | ' | ' | -17,500 | ' | ' | ' | ' |
Number of Shares, Canceled or expired | ' | ' | -799,483 | -586,000 | -1,987,807 | ' | -644,939 | ' | ' |
Number of Shares, Outstanding, Ending balance | ' | ' | ' | 16,028,400 | 15,122,900 | ' | ' | ' | ' |
Number of Shares, Outstanding, Ending balance | ' | ' | 19,532,917 | ' | ' | 7,609,293 | 7,609,293 | ' | 8,254,232 |
Weighted Average Exercise Price Per Share, Outstanding, Beginning balance | ' | ' | $1.12 | $1.18 | $1.26 | $0.62 | $0.65 | ' | $0.65 |
Number of Shares, Options vested and expected to vest Ending Balance | 18,958,403 | 15,407,902 | 18,665,045 | ' | ' | ' | ' | ' | ' |
Weighted Average Exercise Price Per Share, Granted | ' | ' | $0.15 | $0.26 | $0.38 | ' | ' | ' | ' |
Number of Shares, Options exercisable Ending Balance | ' | ' | 13,160,744 | ' | ' | ' | ' | ' | ' |
Weighted Average Exercise Price Per Share, Exercised | ' | ' | ' | ' | $0.22 | ' | ' | ' | ' |
Weighted Average Exercise Price Per Share, Canceled or expired | ' | ' | $0.53 | $0.61 | $0.78 | ' | $1 | ' | ' |
Weighted Average Exercise Price Per Share, vested and exercisable Ending balance | ' | ' | $0.93 | $1.12 | $1.18 | $0.62 | $0.62 | ' | $0.65 |
Weighted Average Exercise Price, Options vested or expected to vest Ending Balance | ' | ' | $0.97 | ' | ' | ' | ' | ' | ' |
Weighted Average Exercise Price, Options exercisable Ending Balance | ' | ' | $1.20 | ' | ' | ' | ' | ' | ' |
Weighted Average Remaining Contractual Term, Options Outstanding Ending Balance | ' | ' | '6 years 5 months 19 days | ' | ' | '5 years 1 month 10 days | ' | ' | ' |
Weighted Average Remaining Contractual Term, Options vested or expected to vest Ending Balance | ' | ' | '6 years 3 months 29 days | ' | ' | '5 years 1 month 10 days | ' | ' | ' |
Weighted Average Remaining Contractual Term, Options exercisable Ending Balance | ' | ' | '5 years 3 months 15 days | ' | ' | '5 years 1 month 10 days | ' | ' | ' |
Aggregate Intrinsic Value, Options outstanding, Ending balance | ' | ' | $0 | ' | ' | $0 | ' | ' | ' |
Aggregate Intrinsic Value, Options vested or expected to vest Ending Balance | ' | ' | 0 | ' | ' | ' | ' | ' | ' |
Aggregate Intrinsic Value, Options exercisable Ending Balance | ' | ' | $0 | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_Sum1
Stock Options and Warrants - Summary of Changes in Restricted Stock Award Activity (Detail) (USD $) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | |
Under 2006 Plan and 2010 Plan [Member] | Under 2006 Plan and 2010 Plan [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Number of Shares, Unvested, Beginning balance | 145,000 | 335,000 | 335,000 | 82,927 | 308,875 | 596,250 |
Number of Shares, Granted | 865,459 | 961,000 | ' | ' | ' | ' |
Number of Shares, Granted | ' | ' | 961,000 | 335,000 | ' | ' |
Number of Shares, Vested | -701,584 | -1,029,750 | -1,029,750 | -82,927 | ' | ' |
Number of Shares, Forfeited | ' | -121,250 | -121,250 | ' | ' | ' |
Number of Shares, Unvested, Ending balance | 308,875 | 145,000 | 145,000 | 335,000 | 308,875 | 596,250 |
Weighted Average Grant Date Fair Value, Unvested, Beginning balance | $0.23 | $0.32 | $0.32 | $0.20 | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $0.17 | $0.24 | $0.24 | $0.32 | ' | ' |
Weighted Average Grant Date Fair Value, Vested | $0.20 | $0.27 | $0.27 | $0.20 | ' | ' |
Weighted Average Grant Date Fair Value, Forfeited | ' | $0.25 | $0.25 | ' | ' | ' |
Weighted Average Grant Date Fair Value, Unvested, Ending balance | $0.19 | $0.23 | $0.23 | $0.32 | ' | ' |
Stock_Options_and_Warrants_Res
Stock Options and Warrants - Restricted Stock Awards - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Grant-date fair value of restricted stock awards | ' | ' | ' | ' | $273,000 | $415,000 |
Stock-based compensation expense | 490,000 | 441,000 | 1,212,000 | 1,291,000 | 1,693,000 | 2,361,000 |
Unrecognized compensation cost related to unvested shares expected to be recognized, weighted-average period | ' | ' | '1 year 9 months 18 days | ' | '1 year 7 months 6 days | '2 years 2 months 12 days |
Restricted Stock [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Grant-date fair value of restricted stock awards | ' | ' | 143,000 | 222,000 | ' | ' |
Stock-based compensation expense | 54,000 | 43,000 | 139,000 | 180,000 | ' | ' |
Unrecognized compensation costs | 44,000 | ' | 44,000 | ' | 16,000 | 72,000 |
Unrecognized compensation cost related to unvested shares expected to be recognized, weighted-average period | ' | ' | '4 months 24 days | ' | '6 months | '4 months 24 days |
Stock-based compensation expense | ' | ' | ' | ' | $240,000 | $59,000 |
Stock_Options_and_Warrants_War
Stock Options and Warrants - Warrants Issued with Preferred Stock - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2014 | Aug. 31, 2013 | Jul. 31, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2008 | Jul. 24, 2013 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2008 | 12-May-08 | Dec. 31, 2013 | Dec. 31, 2008 | Jul. 24, 2013 | 31-May-08 | Dec. 31, 2008 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2008 | |
Skin Care Marketing [Member] | Skin Care Marketing [Member] | Skin Care Marketing [Member] | Skin Care Marketing [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] | |||||||||
Warrants Issued with Preferred Stock [Member] | Warrants Issued with Preferred Stock [Member] | Warrants Issued with Preferred Stock [Member] | Warrants Issued with Preferred Stock [Member] | Warrants Issued with Preferred Stock [Member] | Warrants Issued with Preferred Stock [Member] | Warrants Issued with Preferred Stock [Member] | Warrants Issued with Preferred Stock [Member] | Warrants Issued with Preferred Stock [Member] | |||||||||||||||||||||
Skin Care Marketing [Member] | Skin Care Marketing [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of warrants in each unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | 2 | ' | ' | ' | ' | ' | 2 | ' | ' | ' | 2 |
Number of shares in each unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | 1 | ' | 1 | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding | 44,983,988 | 7,762,500 | ' | ' | ' | ' | 3,500,000 | 6,569,550 | 200,000 | 200,000 | 200,000 | 200,000 | ' | ' | ' | 2,000,000 | 0 | 1,600,000 | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | 0 | 300,000 | ' |
Warrants exercisable price | ' | ' | $0.25 | $0.15 | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | $0.25 | ' | ' | $0.50 | ' | ' | $0.15 | $0.50 | ' | $0.25 | $0.25 | ' | ' |
Expiration date of warrants | 24-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jan-13 | ' | ' | ' | ' | ' | ' | ' | 31-Jul-13 | ' | ' | ' | ' | ' | ' | ' | ' |
Expiry date of warrants | 30-Sep-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jan-13 | ' | ' | ' | ' | ' | ' | ' | 31-Jul-13 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_War1
Stock Options and Warrants - Warrants Issued with Common Stock - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Dec. 31, 2013 | Sep. 30, 2014 | Aug. 31, 2013 | Jul. 31, 2013 | Jan. 22, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' |
Warrant to purchase common stock | ' | ' | 2,500,000 | ' | ' | ' | 45,650,654 | ' | ' | ' | 5,062,500 | ' |
Warrants exercisable price | ' | ' | $0.20 | ' | ' | ' | ' | ' | $0.25 | $0.15 | $0.20 | ' |
Warrants, term | ' | ' | '5 years | '5 years | ' | ' | '5 years | ' | ' | ' | ' | ' |
Sale of common stock | ' | ' | 5,000,000 | ' | ' | ' | 151,175,053 | 224,274,073 | ' | ' | 10,125,000 | 87,388,815 |
Co-Chairman and Chief Executive Officer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant to purchase common stock | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, term | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_201
Stock Options and Warrants - 2013 S-1 July Registered Offering - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2013 | Aug. 31, 2013 | Jul. 31, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jul. 24, 2013 | Jul. 24, 2013 | Jul. 24, 2013 | Jul. 24, 2013 | Dec. 31, 2013 | Jul. 24, 2013 | Dec. 31, 2013 | Jul. 31, 2013 | Jul. 24, 2013 | Jul. 24, 2013 | Dec. 31, 2013 | Jul. 24, 2013 | 12-May-08 | Dec. 31, 2013 | 31-May-08 | |
Common Stock [Member] | Common Stock [Member] | Units [Member] | Units [Member] | Units [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series B Warrants [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] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares/warrants included in total Units | ' | ' | ' | ' | ' | 20,000,000 | 20,000,000 | ' | ' | ' | 20,000,000 | 16,754,822 | ' | ' | 20,000,000 | ' | ' | ' | ' | ' |
Warrants exercisable price | ' | $0.25 | $0.15 | $0.20 | $0.20 | ' | ' | ' | ' | ' | $0.15 | ' | $0.15 | $0.15 | $0.15 | ' | $0.15 | $0.50 | ' | $0.50 |
Number of units issued | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | 16,754,822 | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' |
Number of warrants issued | 64,983,988 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' |
Sale and issuance of Units | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiry date of warrants | 30-Sep-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24-Oct-13 | ' | 31-Jan-13 | ' | ' | 31-Jul-13 | ' |
Number of warrants issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_2011
Stock Options and Warrants - 2013 S-1 July Registered Offering - July 19, 2013 - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | ||||||||
Jul. 19, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Dec. 31, 2013 | Aug. 31, 2013 | Jul. 31, 2013 | Jan. 22, 2013 | Jul. 24, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Jul. 24, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | |
Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Placement Agent Warrants [Member] | Placement Agent Warrants [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of agent fee on gross proceeds from Offering | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount of reimbursement payable to agent | ' | ' | ' | ' | ' | ' | ' | ' | $75,000 | ' | ' | ' | ' |
Number of warrants issued | ' | ' | ' | 64,983,988 | ' | ' | ' | ' | ' | ' | ' | 666,666 | ' |
Percentage of agent warrants to purchase on units issued in offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' |
Warrants initial exercise price | ' | ' | ' | ' | ' | ' | ' | $0.15 | $0.15 | $0.15 | ' | $0.15 | ' |
Warrants, term | ' | '5 years | '5 years | '5 years | ' | ' | ' | ' | ' | ' | '65 days | '5 years | ' |
Percentage of Agent cash solicitation fee on gross proceeds | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 666,666 | ' |
Warrants exercised | ' | $0.20 | ' | ' | $0.25 | $0.15 | $0.20 | $0.15 | ' | ' | $0.15 | ' | $0.15 |
Stock_Options_and_Warrants_2012
Stock Options and Warrants - 2013 S-1 July Registered Offering - Series B Warrants - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | |||
Mar. 12, 2013 | Jan. 22, 2013 | Dec. 31, 2013 | Jul. 24, 2013 | Jul. 24, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Jul. 24, 2013 | Dec. 31, 2013 | |
Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercise price | ' | ' | ' | ' | $0.15 | $0.15 | $0.15 | ' | ' |
Closing bid price of common stock | ' | ' | ' | ' | 80.00% | ' | ' | 80.00% | ' |
Expiration date of warrants | ' | ' | 24-Oct-13 | ' | 24-Oct-13 | 24-Oct-13 | ' | ' | 24-Oct-13 |
Warrants, term | '5 years | '5 years | '5 years | '65 days | ' | ' | ' | '65 days | ' |
Warrants expiration date | ' | ' | ' | 24-Oct-13 | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_2013
Stock Options and Warrants - 2013 S-1 July Registered Offering - Series A Warrants - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Closing price of common stock | $0.21 | ' |
Warrant exercise price | $0.15 | ' |
Stock price volatility | 84.30% | ' |
Expected option life-years based on management's estimate | '6 years 29 days | '5 years 8 months 9 days |
Warrants description | 'Monte-Carlo simulation model | ' |
Expected dividend payout | 0.00% | 0.00% |
Placement Agent Warrants [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected dividend payout | 0.00% | ' |
Series A Warrants [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected option life-years based on management's estimate | '4 years 6 months 22 days | ' |
Expected dividend payout | 0.00% | ' |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Closing price of common stock | $0.15 | ' |
Series-A and Placement Agent Warrants [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected option life-years based on management's estimate | '4 years 6 months 22 days | ' |
U.S. Treasury Notes [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Risk free interest rate | 1.55% | ' |
Stock_Options_and_Warrants_Fai1
Stock Options and Warrants - Fair Value of the Warrant Liabilities - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Jun. 16, 2014 | Jul. 24, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of warrant liability in excess of proceeds | ' | $1,390,000 | ' | $1,390,000 | ' | $1,390,000 | $1,390,000 | ' |
Warrant liabilities | ' | 4,485,000 | ' | ' | ' | ' | 4,925,000 | ' |
Change in fair value of warrant liability | 1,271,000 | ' | 0 | 27,000 | 1,894,000 | 27,000 | -754,000 | 38,000 |
Transaction financing costs | ' | ' | ' | ' | ' | ' | 738,000 | ' |
Other expense | ' | ' | ' | 2,096,000 | 1,537,000 | 2,103,000 | 2,933,000 | 18,000 |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Other expense | ' | ' | ' | ' | ' | ' | 2,882,000 | ' |
Placement Agent Warrants [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value of Warrant Issued | ' | 115,000 | ' | ' | ' | ' | 115,000 | ' |
Series A Warrants [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value of Warrant Issued | ' | 1,725,000 | ' | ' | ' | ' | 1,725,000 | ' |
Series B Warrants [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value of Warrant Issued | ' | 2,645,000 | ' | ' | ' | ' | 2,645,000 | ' |
Change in fair value of warrant liability | ' | ' | ' | ' | ' | ' | $754,000 | ' |
Stock_Options_and_Warrants_Ser
Stock Options and Warrants - Series A and B Warrant Exercises - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Jul. 19, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2013 | Jul. 31, 2013 | Jan. 22, 2013 | Oct. 24, 2013 | Oct. 24, 2013 | Jul. 24, 2013 | Jul. 19, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Jul. 24, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 31, 2013 | Jul. 24, 2013 | Mar. 12, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 12-May-08 | Dec. 31, 2013 | Jul. 24, 2013 | 31-May-08 | |
Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Units [Member] | Units [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Co-Chairman and Chief Executive Officer [Member] | Co-Chairman and Chief Executive Officer [Member] | Company's Chief Scientific Officer [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | |||||||||||||||
Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from exercise of warrants | ' | ' | ' | ' | ' | ' | ' | ' | $242,000 | $2,386,000 | $4,000 | ' | ' | ' | $1,722,000 | ' | ' | ' | $2,144,000 | $242,000 | $2,356,000 | ' | ' | $30,000 | ' | ' | ' | ' | ' | $497,000 | $497,000 | ' | ' | ' | ' |
Number of warrants exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,954,822 | ' | ' | ' | ' | 12,304,822 | 12,304,822 | ' | ' | ' | ' | 16,754,822 | ' | ' | 200,000 | ' | ' | ' | 2,754,821 | 667,667 | ' | ' | ' | ' | ' | ' |
Expiration date of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24-Oct-13 | ' | ' | ' | ' | ' | ' | 24-Oct-13 | 24-Oct-13 | 24-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-13 | ' | ' |
Number of units issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 16,754,822 | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' |
Warrants exercisable price | ' | ' | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | $0.25 | $0.15 | $0.20 | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | $0.15 | $0.15 | ' | ' | ' | ' | ' | $0.50 | ' | $0.15 | $0.50 |
From exercises of warrants, net of commissions of $98, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from stock offering | 400,000 | 600,000 | 2,377,000 | 1,000,000 | 2,025,000 | 550,000 | 500,000 | 3,646,000 | 6,289,000 | 6,538,000 | 2,084,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | 497,000 | 497,000 | ' | ' | ' | ' |
Proceeds form warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,722,000 | ' | ' | ' | ' | ' | ' | ' | $30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued | ' | ' | ' | 5,000,000 | ' | ' | ' | 224,274,073 | ' | 151,175,053 | 87,388,815 | ' | ' | 10,125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_Ser1
Stock Options and Warrants - Series B Price Adjustment - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Oct. 24, 2013 | Oct. 24, 2013 | Oct. 17, 2013 | Jul. 24, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 31, 2013 | Jul. 19, 2013 | Dec. 31, 2013 | Jun. 11, 2014 | |
Placement Agent Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | |||||
Adjusted [Member] | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of closing bid price for calculation of exercise price of warrants | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Closing bid price | ' | ' | ' | ' | ' | ' | ' | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of warrants exercised | ' | 16,954,822 | ' | ' | ' | 12,304,822 | 12,304,822 | ' | ' | ' | ' | ' | ' | 16,754,822 | 4,450,000 | ' | ' | 200,000 | ' |
Adjusted exercise price | ' | ' | ' | ' | ' | $0.15 | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from exercise of warrants | $242,000 | $2,386,000 | $4,000 | ' | ' | $1,722,000 | ' | ' | ' | ' | ' | $2,144,000 | $242,000 | $2,356,000 | $634,000 | ' | ' | $30,000 | ' |
Warrants exercise price | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | $0.15 | $0.15 | ' | ' | ' | $0.15 | $0.15 | $0.15 | ' | ' |
Warrants expired unexercised | ' | ' | ' | ' | ' | 3,245,178 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from warrants | ' | ' | ' | ' | ' | ' | $1,722,000 | ' | ' | ' | ' | ' | ' | ' | $634,000 | ' | ' | $30,000 | ' |
Common stock reserved for future issuance | ' | 37,888,154 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,554,822 | 36,554,822 |
Warrants outstanding | ' | ' | ' | ' | 666,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_2014
Stock Options and Warrants - 2014 Warrant Exchange Agreements - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Jun. 16, 2014 | Jun. 11, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock issued for warrant exchange | ' | 44,665,783 | ' | ' | ' | ' | ' | ' | ' |
Common stock reserved for future issuance | ' | ' | 0 | ' | 0 | ' | 37,888,154 | ' | ' |
Warrants outstanding | ' | ' | 7,762,500 | ' | 7,762,500 | ' | 44,983,988 | 3,500,000 | 6,569,550 |
Change in fair value of warrant liability | $1,271 | ' | $0 | $27 | $1,894 | $27 | ($754) | $38 | ' |
Warrant exchange inducement expense | ' | ' | ' | ' | 3,445 | ' | ' | ' | ' |
Warrant liability reclassified to equity upon warrant exchange | ' | ' | ' | ' | 3,031 | ' | ' | ' | ' |
Value of common stock issued for warrant exchange | ' | ' | ' | ' | $6,428 | ' | ' | ' | ' |
Placement Agent Warrants [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding | ' | ' | 0 | ' | 0 | ' | 666,666 | ' | ' |
Series A Warrants [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock reserved for future issuance | ' | 36,554,822 | ' | ' | ' | ' | 36,554,822 | ' | ' |
Warrants outstanding | ' | ' | 0 | ' | 0 | ' | 36,554,822 | ' | ' |
Series A Warrants [Member] | Dr. Andrey Semechkin and Ruslan Semechkin [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock issued for warrant exchange | ' | 12,105,784 | ' | ' | ' | ' | ' | ' | ' |
Series A Warrants [Member] | Placement Agent Warrants [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding | ' | 666,666 | ' | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_War2
Stock Options and Warrants - Warrants Issued with Other Financings - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Mar. 12, 2013 | Jan. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Aug. 31, 2013 | Jul. 31, 2013 | Jan. 22, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Sep. 30, 2011 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2008 | Jun. 30, 2008 | Dec. 31, 2011 | Sep. 30, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | |
Tranches | Skin Care Marketing [Member] | Skin Care Marketing [Member] | Skin Care Marketing [Member] | Skin Care Marketing [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Warrants [Member] | Warrants [Member] | Bio Time [Member] | Bio Time [Member] | Bio Time [Member] | Bio Time [Member] | Bio Time [Member] | Bio Time [Member] | Brookstreet [Member] | Brookstreet [Member] | YKA Loan [Member] | YKA Loan [Member] | |||||||||
Tranches | Tranches | Skin Care Marketing [Member] | Maximum [Member] | Tranches | Minimum [Member] | Maximum [Member] | Maximum [Member] | Warrants [Member] | Warrants [Member] | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of warrants issued | ' | ' | 64,983,988 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock warrants | $0.20 | ' | ' | ' | ' | ' | $0.25 | $0.15 | $0.20 | ' | ' | ' | ' | $0.14 | $0.14 | $0.25 | $0.25 | $2 | $2 | $2 | $2 | ' | ' | ' | ' | ' | ' | ' | ' | $0.80 | ' | ' | $0.25 | ' | ' | ' | ' | ' | ' | $0.25 |
Expiration date of warrants | ' | ' | 24-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Sep-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Aug-13 | ' |
Number of tranches of common stock warrants issuable | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | 2 | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares which can be purchased by the exercise of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Strike prices | ' | ' | $1.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.50 | ' | $1.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Strike prices | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting over four quarters | ' | ' | ' | ' | 'Four quarters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Four quarters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, term | '5 years | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants outstanding | ' | ' | 44,983,988 | 3,500,000 | 6,569,550 | 7,762,500 | ' | ' | ' | 200,000 | 200,000 | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | ' | ' | ' | 0 | ' | ' | 30,000 | ' | ' | ' | ' | 1,721,629 | ' | ' |
Fair market value of the warrants | ' | ' | $0 | $38,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiry date of warrants | ' | ' | 30-Sep-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-12 | ' | ' | ' | ' | 14-Feb-12 | ' | ' | 31-Aug-13 |
Additional warrants earned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,629,623 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 |
Advance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $250,000 | ' | ' | ' | ' | ' | ' | ' |
Strike prices | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 2 | ' | ' | ' | ' | ' |
Options vesting terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Stock_Options_and_Warrants_Sum2
Stock Options and Warrants - Summary of Outstanding Warrants Related to Warrant Transactions (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2013 | Jul. 31, 2013 | Mar. 12, 2013 | Jan. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Series A Warrants [Member] | Series A Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series A Common Stock [Member] | Series A Common Stock [Member] | Series B Common Stock [Member] | Placement Agent [Member] | Placement Agent [Member] | YKA Loan [Member] | YKA Loan [Member] | Bio Time [Member] | Bridge Loan & Non-cash Grants [Member] | Brookstreet [Member] | Skin Care Marketing [Member] | Skin Care Marketing [Member] | Skin Care Marketing [Member] | Skin Care Marketing [Member] | Jan 2013 Financing [Member] | Jan 2013 Financing [Member] | Mar 2013 Financing [Member] | Mar 2013 Financing [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Weighted Average [Member] | Weighted Average [Member] | Weighted Average [Member] | ||||||||
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares, Outstanding, Beginning balance | 44,983,988 | 3,500,000 | 6,569,550 | ' | ' | ' | ' | 1,600,000 | 1,600,000 | 300,000 | 300,000 | 36,554,822 | ' | ' | 666,666 | ' | 1,400,000 | 1,400,000 | 30,000 | 1,317,921 | 1,721,629 | 200,000 | 200,000 | 200,000 | 200,000 | ' | 5,062,500 | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, Issued | ' | 64,983,988 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,754,822 | 20,000,000 | ' | 666,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,062,500 | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, Exchanged | -37,221,488 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -36,554,822 | ' | ' | -666,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, Exercised | ' | -16,954,822 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -200,000 | -16,754,822 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, Forfeited/Cancelled | ' | -6,545,178 | -3,069,550 | ' | ' | ' | ' | -1,600,000 | ' | -300,000 | ' | ' | ' | -3,245,178 | ' | ' | -1,400,000 | ' | -30,000 | -1,317,921 | -1,721,629 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares, Outstanding, Ending balance | 7,762,500 | 44,983,988 | 3,500,000 | ' | ' | ' | ' | ' | 1,600,000 | ' | 300,000 | ' | 36,554,822 | ' | ' | 666,666 | ' | 1,400,000 | ' | ' | ' | 200,000 | 200,000 | 200,000 | 200,000 | 5,062,500 | 5,062,500 | 2,500,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Exercise Price, Outstanding, Beginning balance | ' | ' | ' | $0.25 | $0.15 | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.25 | $0.25 | $0.14 | $2 | $2 | $2 | $0.17 | $0.34 | $0.49 |
Weighted Average Exercise Price, Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | $0.20 | ' | ' | $0.16 | ' |
Weighted Average Exercise Price, Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.14 | $0.56 | ' | ' | $0.15 | $0.80 | ' | $0.15 | $0.66 |
Weighted Average Exercise Price, Exchanged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | $0.15 | ' | ' |
Weighted Average Exercise Price, Forfeited/Cancelled | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | $0.25 | ' | ' | $0.20 | ' |
Weighted Average Exercise Price, Outstanding, Ending balance | ' | ' | ' | $0.25 | $0.15 | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.14 | $0.25 | $0.14 | $2 | $2 | $2 | $0.24 | $0.17 | $0.34 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Mar. 12, 2013 | Jan. 22, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2011 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Jan. 02, 2013 | Jul. 01, 2011 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Tranches | Major customer 1 [Member] | Major customer 1 [Member] | Another Major Customer [Member] | Other Customer [Member] | Other Customer [Member] | Customer [Member] | Customer [Member] | Customer [Member] | Customer [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Skin Care [Member] | Priestly Drive [Member] | Priestly Drive [Member] | Priestly Drive [Member] | Priestly Drive [Member] | Oceanside [Member] | Oceanside [Member] | Frederick [Member] | Frederick [Member] | |||||||||
Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Tranches | Tranches | Sales [Member] | sqft | sqft | sqft | sqft | sqft | sqft | sqft | sqft | |||||||||||||||||
Commitments And Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current square feet of leased office and laboratory | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,215 | 8,215 | ' | ' |
Expiry of lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2016-08 | '2016-08 | ' | ' |
Current base rent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,837 | $11,492 | ' | ' | $8,846 | $8,588 | $11,105 | $11,644 |
Percentage of increase in monthly base rent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 3.00% | ' | ' | 3.00% | 3.00% | ' | ' |
Area of manufacturing facility given on lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,848 | 8,199 | ' | ' | 5,520 | 5,520 |
Expiry of Lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29-Feb-16 | 29-Feb-16 | ' | ' | ' | ' | 31-Dec-15 | 31-Dec-15 |
Expiry of lease additional | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | '5 years | '5 years |
Initial square feet of leased office and laboratory | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,653 | 4,653 | ' | ' | ' | ' | ' | ' |
Initial monthly base rent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,118 | 5,118 | ' | ' | ' | ' | ' | ' |
Rent expense | ' | ' | 79,000 | 77,000 | 236,000 | 235,000 | 310,000 | 286,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net revenues for Direct Sales generated from the proprietary mailings | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net revenues for Referral Sales | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Termination of the agreement | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of tranches of common stock warrants issuable | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock warrants to be issued for the benefit of the third party marketing organization | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Strike prices | ' | ' | ' | ' | ' | ' | $1.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.50 | ' | ' | ' | ' | ' | ' | ' | $1.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Strike prices | ' | ' | ' | ' | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | ' | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, term | '5 years | '5 years | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commission percentage on direct sale | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage on net revenue derived from referral sales | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Commission expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000 | 18,000 | 34,000 | 61,000 | ' | 80,000 | 149,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | 13.00% | 10.00% | 10.00% | 10.00% | 22.00% | 24.00% | 21.00% | 18.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued for services | ' | ' | ' | ' | ' | ' | $0 | $73,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Summary of Future Minimum Lease Payments Required under Operating Leases that Have Initial or Remaining Non-Cancelable Lease Terms in Excess of One Year (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
2014 (remaining three months) | $97 | ' |
2014 | ' | 386 |
2015 | 397 | 397 |
2016 | 101 | 101 |
2017 | 3 | 3 |
Total | $598 | $887 |
Segments_and_Geographic_Inform2
Segments and Geographic Information - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Subsidiary | Segment | |
Segment | Product | |
Product | Subsidiary | |
Segment Reporting [Abstract] | ' | ' |
Number reporting segments | 3 | 3 |
Number of wholly-owned subsidiaries | 2 | 2 |
Human cell culture products | 130 | 130 |
Segments_and_Geographic_Inform3
Segments and Geographic Information - Revenues, Expenses and Operating Income (Loss) by Market Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues: | ' | ' | ' | ' | ' | ' |
Total revenue | $1,963 | $1,670 | $5,200 | $4,412 | $6,147 | $4,567 |
Operating expenses: | ' | ' | ' | ' | ' | ' |
Total operating expenses | 3,997 | 3,373 | 11,542 | 10,021 | 13,693 | 14,382 |
Operating income (loss): | ' | ' | ' | ' | ' | ' |
Total operating income (loss) | -2,034 | -1,703 | -6,342 | -5,609 | -7,546 | -9,815 |
Cosmeceutical Market [Member] | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' |
Total revenue | 970 | 810 | 2,519 | 2,169 | 3,204 | 2,192 |
Operating expenses: | ' | ' | ' | ' | ' | ' |
Total operating expenses | 837 | 787 | 2,410 | 2,129 | 2,914 | 2,585 |
Operating income (loss): | ' | ' | ' | ' | ' | ' |
Total operating income (loss) | 133 | 23 | 109 | 40 | 290 | -393 |
Biomedical Market [Member] | ' | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' | ' |
Total revenue | 993 | 860 | 2,681 | 2,243 | 2,943 | 2,375 |
Operating expenses: | ' | ' | ' | ' | ' | ' |
Total operating expenses | 702 | 686 | 2,065 | 1,821 | 2,579 | 2,691 |
Operating income (loss): | ' | ' | ' | ' | ' | ' |
Total operating income (loss) | 291 | 174 | 616 | 422 | 364 | -316 |
Therapeutic Market [Member] | ' | ' | ' | ' | ' | ' |
Operating expenses: | ' | ' | ' | ' | ' | ' |
Total operating expenses | 2,458 | 1,900 | 7,067 | 6,071 | 8,200 | 9,106 |
Operating income (loss): | ' | ' | ' | ' | ' | ' |
Total operating income (loss) | ($2,458) | ($1,900) | ($7,067) | ($6,071) | ($8,200) | ($9,106) |
Segments_and_Geographic_Inform4
Segments and Geographic Information - Summary of Significant Revenues in Following Regions (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Total revenues | $1,963 | $1,670 | $5,200 | $4,412 | $6,147 | $4,567 |
North America [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Total revenues | 1,519 | 1,280 | 4,186 | 3,362 | 4,779 | 3,483 |
Asia [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Total revenues | 332 | 283 | 672 | 704 | 905 | 624 |
Europe [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Total revenues | 98 | 66 | 309 | 254 | 355 | 372 |
All Other Regions [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Total revenues | $14 | $41 | $33 | $92 | $108 | $88 |
Subsequent_Event_Additional_In
Subsequent Event - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 2 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||||||
Sep. 10, 2014 | Aug. 06, 2014 | Mar. 12, 2013 | Jan. 22, 2013 | Jun. 26, 2014 | 29-May-14 | Dec. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Aug. 31, 2013 | Jul. 31, 2013 | Jan. 22, 2013 | Dec. 31, 2012 | Jul. 24, 2013 | Jan. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 11, 2013 | Mar. 10, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 10, 2014 | Oct. 14, 2014 | Oct. 14, 2014 | Oct. 14, 2014 | Oct. 14, 2014 | Oct. 14, 2014 | Oct. 14, 2014 | Oct. 14, 2014 | Oct. 14, 2014 | Oct. 14, 2014 | |
Series B Warrants [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Lincoln Park Capital Fund, LLC [Member] | Purchasers [Member] | Purchasers [Member] | Purchasers [Member] | Purchasers [Member] | Purchasers [Member] | Purchasers [Member] | Purchasers [Member] | Purchasers [Member] | Purchasers [Member] | ||||||||||||||||
Placement Agent [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Common Stock Purchase Agreement [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||||||||
Common Stock Purchase Agreement [Member] | Securities Purchase Agreement | Securities Purchase Agreement | Securities Purchase Agreement | Securities Purchase Agreement | Securities Purchase Agreement | Securities Purchase Agreement | Securities Purchase Agreement | Series H Preferred Stock [Member] | Series H Preferred Stock [Member] | ||||||||||||||||||||||||
Class Of Warrant Or Right [Member] | Scenario, Forecast [Member] | Private placement [Member] | Private placement [Member] | Private placement [Member] | Private placement [Member] | Securities Purchase Agreement | Securities Purchase Agreement | ||||||||||||||||||||||||||
Series A Warrants [Member] | Series B Warrants [Member] | Series C Warrants [Member] | Private placement [Member] | ||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock sold | 4,444,445 | 6,000,000 | 5,000,000 | 10,125,000 | 5,500,000 | 3,333,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,866,666 | 1,666,666 | ' | 0 | 8,200,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,500 |
Preferred stock, par value per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 |
Preferred stock, stated value per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 |
Convertible preferred stock, common stock shares issuable upon conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,777,726 |
Convertible preferred stock, conversion price | ' | ' | ' | ' | ' | ' | $0.15 | $0.20 | $0.07 | $0.64 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.06 |
Warrant to purchase common stock | ' | ' | 2,500,000 | ' | ' | ' | 45,650,654 | ' | ' | ' | 45,650,654 | ' | ' | 5,062,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,777,726 | 38,777,726 | 38,777,726 | ' | ' |
Warrants exercise price | ' | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | $0.25 | $0.15 | $0.20 | ' | ' | ' | $0.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.09 | $0.06 | $0.06 | ' | ' |
Warrant, term | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | '65 days | ' | '5 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 6 months | '6 months | '12 months | ' | ' |
Aggregate initial gross proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,500,000 | ' | ' | ' | ' | ' |
Common stock shares authorized pending approval | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | 600,000,000 | 300,000,000 | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 720,000,000 | ' | ' | ' | ' | ' | ' |
Percentage Of Common Stock Resale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | 200.00% | ' |
Effective date of registration statement for resale of shares sold in private placements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13-Nov-14 | ' | ' | ' | ' | ' | ' | ' | ' |
Effective date of declaration of registration statement for resale of shares sold in private placements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13-Dec-14 | ' | ' | ' | ' | ' | ' | ' | ' |
Date of placement agency engagement letter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23-Sep-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Placement agent fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to additional paid in capital, Warrant issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursement of fees and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of common stock | ' | ' | ' | ' | ' | ' | 10,250,000 | ' | ' | ' | 10,250,000 | ' | ' | ' | ' | ' | 10,250,000 | ' | ' | 10,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total number of shares of common stock sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,666,666 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,838,000 | $250,000 | $817,000 | ' | $1,588,000 | $817,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital_Stock_Series_A_Preferr
Capital Stock - Series A Preferred Stock Transactions - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Jan. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 15, 2008 | Dec. 31, 2008 | Dec. 31, 2008 | Aug. 20, 2008 | Sep. 30, 2014 | Dec. 31, 2013 | Jan. 22, 2013 | Dec. 31, 2012 | Mar. 31, 2012 |
Common Stock [Member] | Common Stock [Member] | Common 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 C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | ||
Maximum [Member] | Minimum [Member] | Common Stock [Member] | |||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Series A Preferred Shares in Series A units | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercisable | ' | ' | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total number of shares of common stock sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 1,000,000 | 3,000,000 | ' | ' | ' | ' | ' |
Number of Warrants in Series A Units | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible shares of common stock | ' | ' | ' | ' | ' | ' | ' | ' | $1 | ' | ' | $0.25 | ' | ' | $0.25 | ' | ' |
Common stock at market price on the first finance closing limit | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price | $0.15 | ' | ' | ' | ' | ' | $0.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of convertible shares | ' | 8,000,000 | 8,000,000 | 2,000,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 |
Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | ' | 2,000,000 | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | ' | 2,000,000 | ' |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Reconciliation of the statutory Federal income tax rate and the effective income tax rate | ' | ' |
Statutory federal income tax rate | 35.00% | 35.00% |
Permanent items | -12.00% | -8.00% |
State income taxes, net of federal taxes | 4.00% | 4.00% |
Change in valuation allowance | -30.00% | -30.00% |
Tax credits claimed | 2.00% | 1.00% |
Other | 1.00% | -2.00% |
Effective income tax rate | 0.00% | 0.00% |
Income_Taxes_Summary_of_Signif
Income Taxes - Summary of Significant Components of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets (liabilities) | ' | ' |
Current deferred tax assets (liabilities) | $298 | $120 |
Deferred revenues | 0 | 0 |
Current deferred tax assets | 298 | 120 |
Valuation allowances | -298 | -120 |
Net current deferred tax assets | 0 | 0 |
Net operating loss carryforwards | 19,224 | 17,150 |
Stock based compensation | 2,987 | 2,532 |
Research and development tax credit | 1,627 | 1,206 |
Other | 51 | 10 |
Non-current deferred tax assets | 23,889 | 20,898 |
Valuation allowances | -23,884 | -20,882 |
Net non-current deferred tax assets | 5 | 16 |
Non-current deferred tax liabilities | -5 | -16 |
Net deferred tax assets | $0 | $0 |
Income_Taxes_Summary_of_Compon
Income Taxes - Summary of Components of Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Summary of components of the provisions for income taxes | ' | ' |
Current | $0 | $0 |
Deferred | 0 | 0 |
Total | $0 | $0 |
Stock_Options_and_Warrants_Sum3
Stock Options and Warrants - Summary of Changes in Options Outstanding and Related Exercise Prices (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding, Number Outstanding | 23,637,693 |
Options Outstanding, Weighted Average Remaining Contractual Life (Years) | '6 years 2 months 27 days |
Options Outstanding, Weighted Average Exercise Price | $0.96 |
Options Exercisable and vested, Number Exercisable | 18,958,403 |
Options Exercisable and vested, Weighted Average Remaining Contractual Life (Years) | '5 years 9 months 22 days |
Options Exercisable and vested, Weighted Average Exercise Price | $0.97 |
$0.18-$0.50 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Exercise Prices, Lower Range Limit | $0.18 |
Options Outstanding Exercise Prices, Upper Range Limit | $0.50 |
Options Outstanding, Number Outstanding | 5,265,300 |
Options Outstanding, Weighted Average Remaining Contractual Life (Years) | '7 years 1 month 6 days |
Options Outstanding, Weighted Average Exercise Price | $0.37 |
Options Exercisable and vested, Number Exercisable | 2,727,860 |
Options Exercisable and vested, Weighted Average Remaining Contractual Life (Years) | '5 years 5 months 9 days |
Options Exercisable and vested, Weighted Average Exercise Price | $0.42 |
$0.51-$0.75 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Exercise Prices, Lower Range Limit | $0.51 |
Options Outstanding Exercise Prices, Upper Range Limit | $0.75 |
Options Outstanding, Number Outstanding | 9,258,093 |
Options Outstanding, Weighted Average Remaining Contractual Life (Years) | '5 years 11 months 5 days |
Options Outstanding, Weighted Average Exercise Price | $0.62 |
Options Exercisable and vested, Number Exercisable | 8,898,143 |
Options Exercisable and vested, Weighted Average Remaining Contractual Life (Years) | '5 years 10 months 24 days |
Options Exercisable and vested, Weighted Average Exercise Price | $0.62 |
$0.76-$1.00 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Exercise Prices, Lower Range Limit | $0.76 |
Options Outstanding Exercise Prices, Upper Range Limit | $1 |
Options Outstanding, Number Outstanding | 1,817,000 |
Options Outstanding, Weighted Average Remaining Contractual Life (Years) | '3 years 3 months 29 days |
Options Outstanding, Weighted Average Exercise Price | $0.99 |
Options Exercisable and vested, Number Exercisable | 1,794,000 |
Options Exercisable and vested, Weighted Average Remaining Contractual Life (Years) | '3 years 3 months 11 days |
Options Exercisable and vested, Weighted Average Exercise Price | $0.99 |
$1.01-$1.58 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Exercise Prices, Lower Range Limit | $1.01 |
Options Outstanding Exercise Prices, Upper Range Limit | $1.58 |
Options Outstanding, Number Outstanding | 1,967,300 |
Options Outstanding, Weighted Average Remaining Contractual Life (Years) | '6 years 3 months 26 days |
Options Outstanding, Weighted Average Exercise Price | $1.35 |
Options Exercisable and vested, Number Exercisable | 1,702,400 |
Options Exercisable and vested, Weighted Average Remaining Contractual Life (Years) | '6 years 3 months 4 days |
Options Exercisable and vested, Weighted Average Exercise Price | $1.36 |
$1.59-$3.20 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Exercise Prices, Lower Range Limit | $1.59 |
Options Outstanding Exercise Prices, Upper Range Limit | $3.20 |
Options Outstanding, Number Outstanding | 5,330,000 |
Options Outstanding, Weighted Average Remaining Contractual Life (Years) | '6 years 10 months 24 days |
Options Outstanding, Weighted Average Exercise Price | $1.97 |
Options Exercisable and vested, Number Exercisable | 3,836,000 |
Options Exercisable and vested, Weighted Average Remaining Contractual Life (Years) | '6 years 3 months 4 days |
Options Exercisable and vested, Weighted Average Exercise Price | $1.99 |