Athersys, Inc / New (ATHXQ) 10-Q14 Nov 132013 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2013	Nov. 02, 2013
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Entity Registrant Name	'ATHERSYS, INC / NEW	'
Entity Central Index Key	'0001368148	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	60,224,210

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Current assets:	'	'
Cash and cash equivalents	$17,814	$25,533
Accounts receivable	453	490
Prepaid expenses and other	283	286
Total current assets	18,550	26,309
Equipment, net	1,368	1,294
Total assets	19,918	27,603
Current liabilities:	'	'
Accounts payable	1,636	1,767
Accrued compensation and related benefits	801	827
Accrued clinical trial costs	171	950
Accrued expenses	975	934
Total current liabilities	3,583	4,478
Note payable	174	169
Warrant liabilities	4,667	2,709
Stockholders' equity:	'	'
Preferred stock, at stated value; 10,000,000 shares authorized, and no shares issued and outstanding at September 30, 2013 and December 31, 2012	'	'
Common stock, $0.001 par value; 150,000,000 and 100,000,000 shares authorized at September 30, 2013 and December 31, 2012, respectively, and 59,890,877 and 53,058,632 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	60	53
Additional paid-in capital	266,077	253,889
Accumulated deficit	-254,643	-233,695
Total stockholders' equity	11,494	20,247
Total liabilities and stockholders' equity	$19,918	$27,603

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]	'	'
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	150,000,000	100,000,000
Common stock, shares issued	59,890,877	53,058,632
Common stock, shares outstanding	59,890,877	53,058,632

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues	'	'	'	'
Contract revenue	$87	$623	$365	$5,356
Grant revenue	534	392	1,153	1,063
Total revenues	621	1,015	1,518	6,419
Costs and expenses	'	'	'	'
Research and development	4,689	4,105	15,372	14,701
General and administrative	1,450	1,079	4,512	3,500
Depreciation	86	81	257	236
Total costs and expenses	6,225	5,265	20,141	18,437
Loss from operations	-5,604	-4,250	-18,623	-12,018
Other (expense) income, net	-4	-70	28	-831
(Expense) income from change in fair value of warrants, net	-6	871	-2,353	1,351
Net loss	-5,614	-3,449	-20,948	-11,498
Basic and diluted net loss per share	($0.10)	($0.12)	($0.38)	($0.41)
Weighted average shares outstanding, basic and diluted	57,646,306	29,800,452	55,722,235	28,256,873
Items included in other comprehensive loss:	'	'	'	'
Proportional share of comprehensive loss of equity-method investment	'	'	'	-28
Comprehensive loss	($5,614)	($3,449)	($20,948)	($11,526)

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Operating activities	'	'
Net loss	($20,948)	($11,498)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation	257	236
Gain on sale of investment	'	-183
Stock-based compensation	918	380
Issuance of common stock to former lenders	'	769
Change in fair value of warrant liabilities	2,353	-1,351
Changes in operating assets and liabilities:	'	'
Accounts receivable	37	251
Prepaid expenses and other assets	3	479
Accounts payable and accrued expenses	-890	-724
Deferred revenue	'	-2,381
Net cash used in operating activities	-18,270	-14,022
Investing activities	'	'
Maturities of available-for-sale securities	'	4,237
Purchase of equipment	-331	-307
Net cash (used in) provided by investing activities	-331	3,930
Financing activities	'	'
Proceeds from issuance of common stock, net of expenses	10,617	9,160
Proceeds from exercise of warrants	402	'
Purchases of treasury stock	-137	'
Proceeds from note payable	'	50
Net cash provided by financing activities	10,882	9,210
Decrease in cash and cash equivalents	-7,719	-882
Cash and cash equivalents at beginning of the period	25,533	8,785
Cash and cash equivalents at end of the period	$17,814	$7,903

Background_and_Basis_of_Presen

Background and Basis of Presentation	9 Months Ended
Background and Basis of Presentation	Sep. 30, 2013
Accounting Policies [Abstract]	'
Background and Basis of Presentation	'
	1. Background and Basis of Presentation

	We are an international biotechnology company that is focused primarily in the field of regenerative medicine and operate in one business segment. Our operations consist primarily of research and product development activities.

	The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2012. The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, since they are interim statements, the accompanying financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of financial position and results of operations for the interim periods presented. Interim results are not necessarily indicative of results for a full year.

	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Our critical accounting policies, estimates and assumptions are described in “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” which is included below in this Quarterly Report on Form 10-Q.

	Certain prior-year amounts have been reclassified to conform with current-year presentations.

Net_Loss_Per_Share

Net Loss Per Share	9 Months Ended
Net Loss Per Share	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Net Loss Per Share	'
	2. Net Loss per Share

	Basic and diluted net loss per share have been computed using the weighted-average number of shares of common stock outstanding during the period. The table below reconciles the net loss and the number of shares used to calculate basic and diluted net loss per share for the three and nine months ended September 30, 2013 and 2012, in thousands.




		Three months ended						Nine months ended
		September 30,						September 30,
		2013			2012			2013			2012
	Numerator – Diluted:
	Net loss	$	(5,614	)	$	(3,449	)	$	(20,948	)	$	(11,498	)
	Less: income from change in fair value of warrants		33			—			—			—

	Net loss used to calculate diluted net loss per share	$	(5,647	)	$	(3,449	)	$	(20,948	)	$	(11,498	)

	Denominator – Diluted:
	Weighted-average shares outstanding		57,646			29,800			55,722			28,257
	Potentially dilutive common shares outstanding:
	Warrants		1,602			—			—			—

	Weighted-average shares used to calculate diluted net loss per share		59,248			29,800			55,722			28,257



	We have outstanding options, restricted stock units and warrants that are not used in the calculation of diluted net loss per share because to do so would be antidilutive. The following instruments were excluded from the calculation of diluted net loss per share because their effects would be antidilutive:




		Three months ended						Nine months ended
		September 30,						September 30,
		2013			2012			2013			2012
	Stock options		5,130,329			4,213,501			5,130,329			4,213,501
	Restricted stock units		2,674,348			86,197			2,674,348			86,197
	Warrants		1,459,026			5,806,853			5,409,027			5,806,853

	Total		9,263,703			10,106,551			13,213,704			10,106,551

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	9 Months Ended
Fair Value of Financial Instruments	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	3. Fair Value of Financial Instruments
	Fair Value Measurements
	We classify the inputs used to measure fair value into the following hierarchy:

	Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities.

	Level 2	Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.

	Level 3	Unobservable inputs for the asset or liability.
	The following table provides a summary of the fair values of our assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 (in thousands):


						Fair Value Measurements at September 30, 2013 Using
	Description		Balance as of			Quoted Prices in Active				Significant Other		Significant Unobservable
			September 30, 2013			Markets for Identical				Observable Inputs		Inputs (Level 3)
						Assets (Level 1)				(Level 2)
	Warrant liabilities		$	4,667		$	—			$	—	$	4,667
	We review and reassess the fair value hierarchy classifications on a quarterly basis. Changes from one quarter to the next related to the observability of inputs in a fair value measurement may result in a reclassification between fair value hierarchy levels. There were no reclassifications for all periods presented.

	The estimated fair value of warrants accounted for as liabilities, representing a level 3 fair value measure, was determined on the issuance date and subsequently marked to market at each financial reporting date. The fair value of the warrants is estimated using the expected volatility based on the historical volatilities of comparable companies from a representative peer group selected based on industry and market capitalization, using the Black-Scholes pricing model. The fair value of the warrants issue in March 2012 is determined using probability weighted-average assumptions that give consideration to the exercise price repricing feature that is dependent upon the consummation of future qualified offerings, as defined, and requisite stockholder approval. The following inputs were used at September 30, 2013:


			Warrants Issued			Warrants Issued
			Feb-11			Mar-12
	Expected volatility			79.95	%		75.12	%
	Risk-free interest rate			0.34	%		0.64	%
	Expected life (in years)			2.34			3.45
	Fair value at September 30, 2013		$	563		$	4,104
	(in thousands)		$	563		$	4,104
	A rollforward of fair value measurements using significant unobservable inputs (Level 3) for the warrants is as follows (in thousands):


			Three months					Nine months
			ended					ended
			September 30,					September 30,
			2013					2013
	Balance July 1, 2013		$	4,704		Balance January 1, 2013		$	2,709
	Exercise of warrants			(43	)	Exercise of warrants			(395	)
	Losses, net included in expense from change in fair value of warrants for the period			6		Losses, net included in expense from change in fair value of warrants for the period			2,353

	Balance September 30, 2013		$	4,667		Balance September 30, 2013		$	4,667

Collaborative_Arrangements_and

Collaborative Arrangements and Revenue Recognition	9 Months Ended
Collaborative Arrangements and Revenue Recognition	Sep. 30, 2013
Organization Consolidation And Presentation Of Financial Statements [Abstract]	'
Collaborative Arrangements and Revenue Recognition	'
	4. Collaborative Arrangements and Revenue Recognition
	Pfizer
	In 2009, we entered into a collaboration with Pfizer Inc. (“Pfizer”) to develop and commercialize our MultiStem® product candidate to treat inflammatory bowel disease (“IBD”) for the worldwide market. Under the terms of the agreement, we received a non-refundable up-front payment from Pfizer and research funding and support through June 2012. In addition, we are eligible to receive milestone payments upon the successful achievement of certain development, regulatory and commercial milestones, for which we evaluated the nature of the events triggering these contingent payments and concluded that these events constituted substantive milestones that will be recognized as revenue in the period in which the underlying triggering event occurs. No significant milestone revenue has been recognized to date.
	Pfizer pays us for manufacturing product for clinical development and commercialization purposes. Pfizer has responsibility for development, regulatory and commercialization and will pay us tiered royalties on worldwide commercial sales of MultiStem IBD products. Alternatively, in lieu of royalties and certain commercialization milestones, we may elect to co-develop with Pfizer and the parties will share development and commercialization expenses and profits/losses on an agreed basis beginning at Phase III clinical development.
	We evaluated the facts and circumstances of the Pfizer agreement and determined that it had multiple deliverables that should be combined into a single unit of accounting. We recognized the license and technology access fee and research and development funding ratably on a straight-line basis over the estimated performance period, which was completed mid-2012, and measured manufacturing revenue beginning upon the culmination of the earnings process and recognized it over the performance period of the bundled unit of accounting.

	RTI Biologics, Inc.
	In 2010, we entered into an agreement with RTI Biologics, Inc. (“RTI”) to develop and commercialize biologic implants using our technology for certain orthopedic applications in the bone graft substitutes market. Under the terms of the agreement, we received a $5.0 million license fee in installments through December 2012.
	We are also eligible to receive cash payments upon the successful achievement of certain commercial milestones. We evaluated the nature of the events triggering these contingent payments and concluded that these events are substantive and that revenue will be recognized in the period in which each underlying triggering event occurs. In addition, we will receive tiered royalties on worldwide commercial sales, if any, of implants using our technologies. No commercial milestone or royalty revenue has been recognized to date.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock-Based Compensation	'
	5. Stock-Based Compensation

	Our equity incentive plans, as amended in June 2013, authorize an aggregate of 11,500,000 shares of common stock for awards to employees, directors and consultants. These incentive plans authorize the issuance of equity-based compensation in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and units, and other stock-based awards.

	As of September 30, 2013, a total of 3,440,835 shares were available for issuance under our equity incentive plans, and stock options and restricted stock units to purchase an aggregate of 7,804,677 shares of common stock were outstanding. In June 2013, 2,700,000 restricted stock units that vest ratably on a quarterly basis over three years were granted to our executive officers in exchange for the termination of 2005 incentive agreements. In the three-month period ended September 30, 2013, we granted 75,000 stock options to our directors pursuant to our annual incentive programs. In the three-month period ended September 30, 2013, we issued 235,745 shares of common stock related to restricted stock units that vested during the period, including 75,850 shares that were remitted back to the Company for tax withholdings that became treasury shares. The treasury stock was sold during the three-month period ended September 30, 2013 under the equity purchase agreement with Aspire Capital Fund, LLC (“Aspire Capital”) described in Note 6.

	For the three-month period ended September, 2013 and 2012, stock-based compensation expense was approximately $606,000 and $111,000, respectively. At September 30, 2013, total unrecognized estimated compensation cost related to unvested stock-based awards was approximately $6,203,000, which is expected to be recognized by the end of 2017 using the straight-line method.

Issuance_of_Common_Stock_and_W

Issuance of Common Stock and Warrants

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Issuance of Common Stock and Warrants

6. Issuance of Common Stock and Warrants

In October 2012, we completed a public offering generating net proceeds of approximately $18.3 million through the issuance of 19,802,000 shares of common stock at a price of $1.01 per share. In November 2012, the underwriters exercised in full their right to purchase an additional 2,970,300 shares of common stock, solely to cover over-allotments. The exercise of the full over-allotment option generated an additional $2.8 million of net proceeds.

In March 2012, we completed a private placement financing generating net proceeds of approximately $8.1 million through the issuance of 4,347,827 shares of common stock and five-year warrants to purchase 4,347,827 shares of common stock with an exercise price of $2.07 per share. The securities were sold in multiples of a fixed combination of one share of common stock and a warrant to purchase one share of common stock at an offering price of $2.07 per fixed combination, and the warrants include price protection in the event we sell stock below the exercise price, as defined. As a result of the October 2012 public offering and in accordance with the terms of the warrants, we sought and obtained stockholder approval in February 2013 to reduce the exercise price of these warrants to $1.01 per share. In connection with this private placement, our former lenders were entitled to a milestone payment in the amount of $900,000, of which 75% was settled through the issuance of our common stock at $1.94 per share at our election.

In November 2011, we entered into an equity purchase agreement with Aspire Capital, which provided that Aspire Capital was committed to purchase up to an aggregate of $20.0 million of shares of our common stock over a two-year term, subject to our election to sell any such shares. Under the agreement, we had the right to sell shares, subject to certain volume limitations and a minimum floor price, at a modest discount to the prevailing market price. As part of the agreement, Aspire Capital made an initial investment of $1.0 million in us through the purchase of 666,667 shares of our common stock at $1.50 per share in 2011, and received 266,667 additional shares as compensation for its commitment. In 2012, we sold an additional 800,000 shares to Aspire Capital at an average price of $1.57 per share. During the quarter ended September 30, 2013, we sold 2,868,361 shares to Aspire Capital at an average price of $1.68 per share, and during the nine-month period ended September 30, 2013, we sold 6,266,666 shares to Aspire Capital at an average price of $1.70 per share. From its inception through September 30, 2013, we have sold all 8,000,000 shares of common stock that were registered for resale under the equity facility and received aggregate gross proceeds of approximately $12.9 million under the equity purchase agreement, which was due to expire in January 2014.

On October 22, 2013, we terminated the expiring equity purchase agreement with Aspire Capital and entered into a new equity purchase agreement with Aspire Capital to purchase up to an aggregate of $25.0 million of shares of our common stock over a new two-year period. The terms of the 2013 equity facility are similar to the previous arrangement, and we issued 333,333 shares of our common stock Aspire Capital as a commitment fee in October 2013 and filed a registration statement for the resale of 10,000,000 shares of common stock in connection with the new equity facility.

As of September 30, 2013, we had the following outstanding warrants to purchase shares of common stock:

Number of

Exercise Price

Expiration

Underlying Shares

149,026

June 8, 2014

1,310,000

3.55

February 2, 2016

3,950,001

1.01

14-Mar-17

5,409,027

Warrant_Liability

Warrant Liability	9 Months Ended
Warrant Liability	Sep. 30, 2013
Text Block [Abstract]	'
Warrant Liability	'
	7. Warrant Liability

	We account for common stock warrants as either liabilities or as equity instruments depending on the specific terms of the warrant agreement. Registered common stock warrants that could require cash settlement are accounted for as liabilities. We classify these warrant liabilities on the consolidated balance sheet as a non-current liability, which is revalued at fair value at each balance sheet date subsequent to the initial issuance. We use the Black-Scholes valuation model to value the warrant liability at its fair value. Changes in the fair market value of the warrant are reflected in the consolidated statement of operations as income (expense) from change in fair value of warrants.

	The warrants we issued in both the March 2012 private placement and the February 2011 registered direct offering contain a provision for net cash settlement in the event that there is a fundamental transaction (e.g., merger, sale of substantially all assets, tender offer, or share exchange). If a fundamental transaction occurs in which the consideration issued consists of all cash or stock in a non-public company, then the warrant holder has the option to receive cash equal to a Black Scholes value of the remaining unexercised portion of the warrant. Further, the March 2012 warrants include price protection in the event we sell stock below the exercise price, as defined, and the exercise price was reduced in February 2013 to $1.01 per share as a result of the October 2012 public offering.



	The warrants have been classified as liabilities, as opposed to equity, due to the potential cash settlement upon the occurrence of certain events as described above, and are recorded at their fair values at each balance sheet date. As of September 30, 2013, we have received aggregate proceeds of approximately $402,000 from the exercise of March 2012 warrants with respect to 397,826 shares of common stock.

Income_Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	8. Income Taxes
	We have net operating loss and research and development tax credit carryforwards that may be used to reduce future taxable income and tax liabilities. Our deferred tax assets have been fully offset by a valuation allowance due to our cumulative losses. As a result of our most recent equity offerings, all of the net operating loss and credit carryforwards have been significantly limited for use under Section 382 of the Internal Revenue Code.

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	9 Months Ended
Net Loss Per Share (Tables)	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Reconciles the Net Loss and the Number of Shares Used to Calculate Basic and Diluted Net Loss Per Share	'
	The table below reconciles the net loss and the number of shares used to calculate basic and diluted net loss per share for the three and nine months ended September 30, 2013 and 2012, in thousands.




		Three months ended						Nine months ended
		September 30,						September 30,
		2013			2012			2013			2012
	Numerator – Diluted:
	Net loss	$	(5,614	)	$	(3,449	)	$	(20,948	)	$	(11,498	)
	Less: income from change in fair value of warrants		33			—			—			—

	Net loss used to calculate diluted net loss per share	$	(5,647	)	$	(3,449	)	$	(20,948	)	$	(11,498	)

	Denominator – Diluted:
	Weighted-average shares outstanding		57,646			29,800			55,722			28,257
	Potentially dilutive common shares outstanding:
	Warrants		1,602			—			—			—

	Weighted-average shares used to calculate diluted net loss per share		59,248			29,800			55,722			28,257

Instruments Excluded from the Calculation of Diluted Net Loss Per Share	'

	The following instruments were excluded from the calculation of diluted net loss per share because their effects would be antidilutive:



		Three months ended						Nine months ended
		September 30,						September 30,
		2013			2012			2013			2012
	Stock options		5,130,329			4,213,501			5,130,329			4,213,501
	Restricted stock units		2,674,348			86,197			2,674,348			86,197
	Warrants		1,459,026			5,806,853			5,409,027			5,806,853

	Total		9,263,703			10,106,551			13,213,704			10,106,551

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	9 Months Ended
Fair Value of Financial Instruments (Tables)	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Values of Our Assets and Liabilities Measured at Fair Value on a Recurring Basis	'
	The following table provides a summary of the fair values of our assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 (in thousands):




					Fair Value Measurements at September 30, 2013 Using
	Description	Balance as of			Quoted Prices in Active				Significant Other		Significant Unobservable
		September 30, 2013			Markets for Identical				Observable Inputs		Inputs (Level 3)
					Assets (Level 1)				(Level 2)
	Warrant liabilities	$	4,667		$	—			$	—	$	4,667
Fair Value of the Warrants Based on the Historical Volatilities	'

	The following inputs were used at September 30, 2013:



		Warrants Issued			Warrants Issued
		Feb-11			Mar-12
	Expected volatility		79.95	%		75.12	%
	Risk-free interest rate		0.34	%		0.64	%
	Expected life (in years)		2.34			3.45
	Fair value at September 30, 2013	$	563		$	4,104
	(in thousands)	$	563		$	4,104
Roll-Forward of Fair Value Measurements Using Significant Unobservable Inputs (Level 3) for the Warrants	'
	A rollforward of fair value measurements using significant unobservable inputs (Level 3) for the warrants is as follows (in thousands):


		Three months					Nine months
		ended					ended
		September 30,					September 30,
		2013					2013
	Balance July 1, 2013	$	4,704		Balance January 1, 2013		$	2,709
	Exercise of warrants		(43	)	Exercise of warrants			(395	)
	Losses, net included in expense from change in fair value of warrants for the period		6		Losses, net included in expense from change in fair value of warrants for the period			2,353

	Balance September 30, 2013	$	4,667		Balance September 30, 2013		$	4,667

Issuance_of_Common_Stock_and_W1

Issuance of Common Stock and Warrants (Tables)

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Outstanding Warrants to Purchase Shares of Common Stock

As of September 30, 2013, we had the following outstanding warrants to purchase shares of common stock:

Number of

Exercise Price

Expiration

Underlying Shares

149,026

June 8, 2014

1,310,000

3.55

February 2, 2016

3,950,001

1.01

14-Mar-17

5,409,027

Background_and_Basis_of_Presen1

Background and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
	Segment
Accounting Policies [Abstract]	'
Number of business segments	1

Net_Loss_Per_Share_Reconciles_

Net Loss Per Share - Reconciles the Net Loss and the Number of Shares Used to Calculate Basic and Diluted Net Loss Per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator - Diluted:	'	'	'	'
Net loss	($5,614)	($3,449)	($20,948)	($11,498)
Less: income from change in fair value of warrants	33	'	'	'
Net loss used to calculate diluted net loss per share	($5,647)	($3,449)	($20,948)	($11,498)
Denominator - Diluted:	'	'	'	'
Weighted-average shares outstanding	57,646	29,800	55,722	28,257
Potentially dilutive common shares outstanding:	'	'	'	'
Warrants	1,602	'	'	'
Weighted-average shares used to calculate diluted net loss per share	59,248	29,800	55,722	28,257

Net_Loss_Per_Share_Instruments

Net Loss Per Share - Instruments Excluded from the Calculation of Diluted Net Loss Per Share (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Total	9,263,703	10,106,551	13,213,704	10,106,551
Stock Options [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Total	5,130,329	4,213,501	5,130,329	4,213,501
Restricted Stock Units [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Total	2,674,348	86,197	2,674,348	86,197
Warrants [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Total	1,459,026	5,806,853	5,409,027	5,806,853

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Fair Values of Our Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Warrant liabilities	$4,667	$2,709
Fair Value Measurements, Recurring Basis [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Warrant liabilities	4,667	'
Fair Value Measurements, Recurring Basis [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Warrant liabilities	'	'
Fair Value Measurements, Recurring Basis [Member] \| Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Warrant liabilities	'	'
Fair Value Measurements, Recurring Basis [Member] \| Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Warrant liabilities	$4,667	'

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments - Fair Value of the Warrants Based on the Historical Volatilities (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Warrants Issued February 2011 [Member]	'
Class of Warrant or Right [Line Items]	'
Expected volatility	79.95%
Risk-free interest rate	0.34%
Expected life (in years)	'2 years 4 months 2 days
Fair value at September 30, 2013	$563
Warrants Issued March 2012 [Member]	'
Class of Warrant or Right [Line Items]	'
Expected volatility	75.12%
Risk-free interest rate	0.64%
Expected life (in years)	'3 years 5 months 12 days
Fair value at September 30, 2013	$4,104

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments - Roll-Forward of Fair Value Measurements Using Significant Unobservable Inputs (Level 3) for the Warrants (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'	'	'	'
Losses, net included in expense from change in fair value of warrants for the period	($6)	$871	($2,353)	$1,351
Warrants [Member]	'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'	'	'	'
Beginning Balance	4,704	'	2,709	'
Exercise of warrants	-43	'	-395	'
Losses, net included in expense from change in fair value of warrants for the period	6	'	2,353	'
Ending Balance	$4,667	'	$4,667	'

Collaborative_Arrangements_and1

Collaborative Arrangements and Revenue Recognition - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Pfizer [Member]	'
Collaborative Arrangements And Revenue Recognition [Line Items]	'
Commercial milestone revenue	$0
RTI Biologics, Inc. [Member]	'
Collaborative Arrangements And Revenue Recognition [Line Items]	'
Commercial milestone revenue	0
License fee installment revenue	5,000,000
Royalty revenue	$0

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended			1 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Jun. 30, 2013
						Restricted Stock Units [Member]
						Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Common stock authorized for equity incentive plans	'	'	'	'	11,500,000	'
Shares available for issuance	3,440,835	'	3,440,835	'	'	'
Shares of common stock outstanding	7,804,677	'	7,804,677	'	'	'
Restricted stock units granted	'	'	'	'	'	2,700,000
Restricted stock units vest on quarterly basis	'	'	'	'	'	'3 years
Stock options granted	75,000	'	'	'	'	'
Common stock issued related to restricted stock units	235,745	'	'	'	'	'
Treasury stock issued to Company tied to tax withholdings	75,850	'	'	'	'	'
Stock-based compensation expense	$606,000	$111,000	$918,000	$380,000	'	'
Total unrecognized estimated compensation cost	$6,203,000	'	$6,203,000	'	'	'
Compensation cost related to unvested stock-based awards not yet recognized, expected year for recognition	'	'	'2017	'	'	'

Issuance_of_Common_Stock_and_W2

Issuance of Common Stock and Warrants - Additional Information (Detail) (USD $)

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

1 Months Ended

Oct. 31, 2012

Mar. 31, 2012

Nov. 30, 2011

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Feb. 28, 2013

Nov. 30, 2012

Nov. 30, 2011

Nov. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Oct. 22, 2013

Underwriters [Member]

Equity Purchase Agreement [Member]

Aspire [Member]

Subsequent Event [Member]

Class of Warrant or Right [Line Items]

Proceeds from issuance of common stock

$18,300,000

$8,100,000

$10,617,000

$9,160,000

$2,800,000

$12,900,000

Issuance of common stock, new issues

19,802,000

4,347,827

666,667

8,000,000

2,970,300

2,868,361

6,266,666

800,000

Issuance of common stock shares per share

$1.01

$1.94

Common stock warrants period

'5 years

Common stock purchased under warrants

4,347,827

397,826

Common stock exercise price

2.07

1.01

Common stock at an offering price of fixed combination

$2.07

Milestone payment to our former lenders

900,000

Percentage of former lenders payment

75.00%

Equity purchase agreement, value

20,000,000

25,000,000

Equity purchase agreement, term

'2 years

Initial investment

$1,000,000

Common stock per share

$1.50

Common stock issuance (shares) under equity purchase agreement

266,667

Sale of additional shares at an average price

$1.68

$1.70

$1.57

Equity purchase agreement expiration period

'2014-01

Common stock issued as commitment fees

333,333

Common stock registered for resale

10,000,000

Issuance_of_Common_Stock_and_W3

Issuance of Common Stock and Warrants - Outstanding Warrants to Purchase Shares of Common Stock (Detail)	Sep. 30, 2013	Feb. 28, 2013	Mar. 31, 2012
Class of Warrant or Right [Line Items]	'	'	'
Number of Underlying Shares	5,409,027	'	'
Exercise Price	'	1.01	2.07
June 8, 2014 [Member]	'	'	'
Class of Warrant or Right [Line Items]	'	'	'
Number of Underlying Shares	149,026	'	'
Exercise Price	5	'	'
Expiration	8-Jun-14	'	'
February 2, 2016 [Member]	'	'	'
Class of Warrant or Right [Line Items]	'	'	'
Number of Underlying Shares	1,310,000	'	'
Exercise Price	3.55	'	'
Expiration	2-Feb-16	'	'
March 14, 2017 [Member]	'	'	'
Class of Warrant or Right [Line Items]	'	'	'
Number of Underlying Shares	3,950,001	'	'
Exercise Price	1.01	'	'
Expiration	14-Mar-17	'	'

Warrant_Liability_Additional_I

Warrant Liability - Additional Information (Detail) (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Feb. 28, 2013	Mar. 31, 2012
Equity [Abstract]	'	'	'
Exercise Price	'	1.01	2.07
Proceeds from issuance of warrants	$402	'	'
Share issued on exercise of warrants	397,826	'	4,347,827