BG Medicine (BGMD) 10-Q 15 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	BGMD
Entity Registrant Name	BG MEDICINE, INC.
Entity Central Index Key	1407038
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		34,653,150

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets
Cash	$1,612	$4,123
Accounts receivable	132	174
Inventory	280	400
Prepaid expenses and other current assets	249	154
Total current assets	2,273	4,851
Property and equipment, net	103	117
Intangible assets, net	120	135
Deposits and other assets	94	126
Total assets	2,590	5,229
Current liabilities
Term loan	1,856	2,960
Accounts payable	579	695
Accrued expenses	615	906
Other current liabilities	20	18
Total current liabilities	3,070	4,579
Other liabilities	86	93
Total liabilities	3,156	4,672
Commitments and contingencies (Note 5)
Stockholders' (deficit) equity
Common stock; $.001 par value; 100,000,000 shares authorized at March 31, 2015 and December 31, 2014; 34,584,730 and 34,531,238 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	34	34
Additional paid-in capital	161,749	161,525
Accumulated deficit	-162,349	-161,002
Total stockholders' (deficit) equity	-566	557
Total liabilities and stockholders' (deficit) equity	$2,590	$5,229

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	34,584,730	34,531,238
Common stock, shares outstanding	34,584,730	34,531,238

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Product revenues	$437	$739
Costs and operating expenses:
Product costs	149	248
Research and development	483	560
Selling and marketing	192	688
General and administrative	869	1,190
Total costs and operating expenses	1,693	2,686
Loss from operations	-1,256	-1,947
Interest income		2
Interest expense	-92	-233
Other expense		-1
Net loss	($1,348)	($2,179)
Net loss per share - basic and diluted	($0.04)	($0.08)
Weighted-average common shares outstanding used in computing per share amounts - basic and diluted	34,559,173	27,936,530

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities
Net loss	($1,348)	($2,179)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	29	33
Stock-based compensation	225	176
Non-cash interest expense	32	61
Changes in operating assets and liabilities
Accounts receivable	42	-104
Inventory	120	86
Prepaid expenses and other assets	-101	-332
Accounts payable, accrued expenses and other liabilities	-422	-156
Deferred revenue and customer deposits	32	36
Net cash flows used in operating activities	-1,391	-2,379
Cash flows from financing activities
Payments on term loan	-1,120	-1,120
Proceeds from the exercise of stock options		1
Net cash flows used in financing activities	-1,120	-1,119
Net decrease in cash	-2,511	-3,498
Cash, beginning of period	4,123	7,751
Cash, end of period	1,612	4,253
Supplemental disclosure of cash flow information
Cash paid for interest	$60	$163

Description_of_Business_and_Ba

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Description of Business and Basis of Presentation	1	Description of Business and Basis of Presentation
	Description of Business
	BG Medicine, Inc. (“BG Medicine” or the “Company”) is a commercial stage company that is focused on the development and delivery of diagnostic solutions to aid in the clinical management of heart failure and related disorders. The Company’s BGM Galectin-3® Test is an in vitro diagnostic device that quantitatively measures galectin-3 levels in blood plasma or serum for use as an aid in assessing the prognosis of chronic heart failure. The BGM Galectin-3® Test is cleared by the U.S. Food and Drug Administration (the “FDA”), is CE-marked and is currently available as a blood test in the United States and the European Union (“EU”). The Company is currently focused on preparing for the anticipated U.S. market introduction of galectin-3 automated testing by its automated diagnostic instrument manufacturing partners by conducting clinical research studies that seek to affirm the potential clinical utility and impact of galectin-3 testing in heart failure and related disorders and by continuing to support and promote the publication of the results of clinical research studies.
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. The interim financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position at March 31, 2015 and results of operations and cash flows for the interim periods ended March 31, 2015 and 2014.
	The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates and to identify matters that require additional disclosure. Subsequent events have been evaluated through the date of issuance of these financial statements. The results for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015or for any other interim period or for any other future year. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
	At March 31, 2015, the Company had cash totaling $1.6 million, an outstanding balance of $1.9 million under a secured term loan facility, and stockholders’ deficit of $0.6 million. During the three months ended March 31, 2015, the Company incurred a net loss of $1.3 million, used $1.4 million of cash in operating activities and used $1.1 million of cash for payments on the term loan facility. The Company expects to continue to incur losses and use cash in operating activities and debt service for the foreseeable future.
	The Company is in the early stages of commercializing its BGM Galectin-3 Test. Interest in the BGM Galectin-3 Test is increasing as a result of the Company’s market development activities, although it has not yet translated into significant revenue. In order to achieve profitability, the Company will need to generate significant product revenues.
	On April 8, 2014, the Company closed a follow-on underwritten public offering of 6,452,000 shares of its common stock, at an offering price of $1.55 per share, for gross proceeds of $10.0 million. The net offering proceeds received by the Company, after deducting underwriting discounts and commissions and expenses incurred in connection with the offering, were approximately $9.0 million.
	Effective January 1, 2014, the payment rate at which the Company’s BGM Galectin-3 Test is reimbursed by the Centers for Medicare and Medicaid Services (“CMS”), was increased to $30.01 from $17.80 per test. The Company is in the early stages of commercializing its BGM Galectin-3 Test. In 2015, the national limitation amount for the Company’s BGM Galectin-3 Test was reduced to $29.93 and applies across the U.S., except in Ohio and West Virginia where rates of $23.93 and $26.33, respectively, apply. The Company has entered into licensing and commercialization agreements with four leading diagnostic instrument manufacturers to develop and commercialize automated instrument versions of its galectin-3 test.
	Since September 11, 2014, the Company has implemented a reduction of approximately 68% of its workforce, or 15 people (the “Restructuring”), leaving 7 employees. The Company took this step in order to reduce its operating expenses and extend its cash runway in anticipation of the commercial launch of automated versions of the Company’s galectin-3 test. The automated galectin-3 tests are being developed and commercialized by the Company’s diagnostic instrument manufacturing partners and will be performed on the partners’ automated platforms.
	The Restructuring primarily eliminated the Company’s sales and marketing organization and removed certain positions in other functional areas, while preserving some senior management and other critical roles to support the clinical and commercial adoption of galectin-3 testing by providing support to clinical research studies that have incorporated our BGM Galectin-3 Test and by expanding the BGM Galectin-3 Test’s labeling indications for use through additional clinical studies and clearances by the FDA.
	Employees affected by the Restructuring were provided with severance arrangements including outplacement assistance. As a result of the Restructuring, the Company has recorded total one-time charges with respect to severance payments and benefits continuation of approximately $404,000 and $50,000 during 2014 and 2015, respectively. The Company paid approximately $277,000 of such expenses during the third and fourth quarters of 2014, $155,000 during the first quarter of 2015, and will pay the remaining $22,000, included in accrued expenses, during the second quarter of 2015. As a result of the Restructuring, the Company estimates it will generate annualized expense savings of approximately $2.1 million primarily from savings in employee salaries and benefits.
	As further described in Note 8, the Company has a term loan facility that is secured by substantially all of the Company’s assets. The loan and security agreement contains customary events of default that entitle the lenders to cause any or all of the Company’s indebtedness under the loan and security agreement to become immediately due and payable and could cause the lenders to foreclose on the collateral securing the indebtedness, including the Company’s cash. The events of default include, among others, the occurrence of a material adverse effect which could cause the lender to accelerate the payments by the Company under the term loan. As of April 30, 2015, the Company had approximately $0.7 million in cash and $1.5 million outstanding under the term loan, having made payments totaling approximately $1.5 million during the first four months of 2015.
	Our common stock is currently listed for trading on the NASDAQ Capital Market. As disclosed in a Current Report on Form 8-K filed on March 13, 2015, we were notified by NASDAQ that, because we did not maintain a minimum closing bid price of $1.00, or minimum bid price deficiency, and did not meet the minimum $2.5 million in stockholders’ equity, or stockholders’ equity deficiency, as required by NASDAQ Listing Rules, our common stock would be subject to delisting unless we timely request a hearing before the NASDAQ Listing Qualifications Panel, or the Panel. We subsequently requested a hearing before the Panel and during the hearing on April 16, 2015 we requested, and later in April 2015 we received, the approval from the Panel for an extension until August 10, 2015, subject to the achievement of certain milestones, within which to pursue our plan to regain and maintain compliance with all applicable requirements for continued listing on NASDAQ. The Company’s plan of compliance includes, among other elements, effecting a reverse stock split of the Company’s common stock at a ratio in the range of 1:2 to 1:6, such ratio to be determined by the Company’s Board of Directors, and the issuance of shares of Series A Preferred in the Private Placement Financing (as defined below), both of which the Company will be seeking stockholder approval for at the Company’s 2015 annual meeting of stockholders. While our common stock will remain listed and continue to trade on NASDAQ under the symbol “BGMD” pending the hearing and the expiration of any extension granted by the Panel, there can be no assurance that the Panel will grant our request for continued listing or that we will be able to regain compliance within any extension period granted by the Panel.
	A delisting of our common stock from The NASDAQ Capital Market could substantially further reduce the liquidity of our common stock and result in a corresponding material reduction in the price of our common stock. In addition, delisting could harm our ability to raise capital through alternative financing sources on terms acceptable to us, or at all, and may result in the potential loss of confidence by investors, suppliers, customers and employees and fewer business development opportunities.
	The Company believes that its existing cash and proceeds from the Secured Convertible Promissory Notes (see Note 8 Subsequent Events note below) will be sufficient to fund its operations and service its debt into July 2015. For the foreseeable future and until the Company generates significant product revenues to reach cash breakeven, the Company will need to raise additional funds to finance its operations and service its existing debt beyond July 2015. The Company may not be able to obtain adequate financing to do so when necessary, and the terms of any financings may not be advantageous to it. On November 13, 2014, the Company announced that it had retained Stifel Nicolaus & Company, Incorporated, an investment banking firm, to assist in reviewing and evaluating a full range of strategic alternatives to enhance shareholder value. The strategic alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a merger or sale of the Company or other possible transactions.
	The above circumstances along with the Company’s history and near term forecast of incurring net losses and negative operating cash flows raise substantial doubt regarding its ability to continue as a going concern beyond July 2015. The accompanying unaudited condensed consolidated financial statements have been prepared assuming the Company will continue to operate as a going concern, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from uncertainty related to its ability to continue as a going concern.

Significant_Accounting_Policie

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Significant Accounting Policies	2	Significant Accounting Policies
	Product Revenues
	Product revenues are recognized when the following criteria have been met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred and risk of loss has passed; (iii) the seller’s price to the buyer is fixed or determinable; and (iv) collectability is reasonably assured.
	The Company sells its products through supply agreements with laboratory testing services and diagnostic testing distributors and directly to hospitals and clinics. The Company recognizes revenue when products are received by customers, at which time both title and risk of loss have passed to the customers. The Company negotiates credit terms on a customer-by-customer basis and products are shipped at an agreed-upon price.
	Revenue is recorded net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Freight costs billed to customers are recorded as revenue.
	The Company does not currently provide an allowance for doubtful accounts or a reserve for sales returns as the Company has not experienced any credit losses, and returns are only allowed for defects in workmanship.
	Inventory
	Inventory is stated at the lower of cost or market. Costs are determined under the first-in, first-out (FIFO) method. Inventories consisted of the following:
			March 31, 2015			December 31, 2014
			(in thousands)
	Raw materials		$	64		$	64
	Finished goods			216			336
	Total inventories		$	280		$	400
	Net Loss Per Share
	Basic and diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Because the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for all periods presented.
	The following table summarizes the computation of basic and diluted net loss per share for three months ended March 31, 2015 and 2014:
			Three months Ended March 31,
			2015			2014
			(in thousands, except share and per share data)
	Net loss		$	(1,348	)	$	(2,179	)
	Weighted average number of shares - basic and diluted			34,559,173			27,936,530
	Net loss per share - basic and diluted		$	(0.04	)	$	(0.08	)
	For the three months ended March 31, 2015 and 2014, the following potential common shares were excluded from the computation of diluted net loss per share because they had an antidilutive impact due to the losses reported:
			Three months Ended March 31,
			2015			2014
	Options to purchase common stock			3,710,561			3,053,979
	Warrants to purchase common stock			745,749			864,555

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Fair Value of Financial Instruments	3	Fair Value of Financial Instruments
	At March 31, 2015, the Company’s financial instruments consisted of cash, accounts receivable, accounts payable and debt. The carrying amounts of accounts receivable, accounts payable and short-term debt are considered reasonable estimates of their fair value, due to the short maturity of these instruments.

Term_Loan

Term Loan	3 Months Ended
	Mar. 31, 2015
Term Loan	4	Term Loan
	On February 10, 2012, the Company entered into a secured term loan facility, and a term loan in the aggregate principal amount of $10.0 million was funded upon the closing of the transaction.
	The term loan accrues interest at a rate of 8% per annum plus the higher of (a) the 3-month LIBOR rate or (b) 1.25%. The interest rate in effect at March 31, 2015 was 9.25% per annum. Interest only payments were made for the first twelve months of the loan term. Following that initial twelve month period, principal and interest payments are required to be paid on a monthly basis through maturity in August 2015. The term loan is secured by substantially all of the Company’s assets, other than its intellectual property, for which the Company has provided a negative pledge. The loan and security agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among others, covenants that limit or restrict the Company’s ability to incur indebtedness, merge or consolidate, dispose of assets, make acquisitions, pay dividends or make distributions, or repurchase stock. In addition, the loan and security agreement contains customary events of default that entitle the lenders to cause any or all of the Company’s indebtedness under the loan and security agreement to become immediately due and payable and could cause the lenders to foreclose on the collateral securing the indebtedness, including the Company’s cash. The events of default include, among others, non-payment of principal and interest when due, inaccuracy of representations and warranties, covenant defaults, bankruptcy and insolvency and the occurrence of a material adverse effect (as defined in the loan and security agreement).
	May 2013 Loan Amendment
	In May 2013, the Company amended its loan and security agreement to allow for a three month deferral of principal payments beginning May 1, 2013 and to allow for up to an additional three months of deferral based on the Company meeting certain minimum liquidity requirements, as defined in the amendment. The Company made principal payments in March and April 2013 prior to the signing of the amendment. The Company did not meet the additional liquidity requirements, as defined in the amendment, and, accordingly, principal payments resumed on August 1, 2013. The amendment also increased certain loan fees by $50,000, and amended the terms of the warrants, as discussed below.
	At March 31, 2015, the Company had $1.9 million outstanding under the term loan. Monthly debt payments of $0.37 million each are due in 2015 with the final payment due on August 1, 2015.
	Warrants related to the Term Loan
	In connection with the loan facility, the Company initially issued to the lenders warrants to purchase 36,657 shares of its common stock with an exercise price of $6.82 per share. The warrants expire ten years from the date of issuance. The warrants were valued using the Black-Scholes option pricing model using the following assumptions: fair value of the underlying common stock of $8.51 per share; volatility of 70%; no dividend yield; risk free interest rate of 1.96%; and an expected life of ten years. The relative fair value of the warrants, aggregating $240,000, has been accounted for as a debt discount and is being recognized as interest expense over the term of the loan using the effective interest method. These warrants have been classified as equity instruments and are included within additional paid-in capital. As part of the May 2013 amendment to the loan and security agreement, the number of shares for which the warrants were exercisable increased by 110,401 shares and the exercise price of the warrants was adjusted to $1.70 per share. At the loan modification date, the Company valued the warrants using the Black-Scholes option pricing model and recorded the incremental value of the increased number of shares for which the warrants are exercisable as additional debt discount in the amount of $163,000, which is being recognized as additional interest expense over the remaining term of the loan using the effective interest method.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies	5	Commitments and Contingencies
	From time to time, the Company may be subject to various legal proceedings and claims arising in the ordinary course of business. The Company assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in its financial statements. An estimated loss contingency is accrued in the financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
	No amounts related to contingencies are accrued at March 31, 2015.

Common_Stock_Purchase_Agreemen

Common Stock Purchase Agreement	3 Months Ended
	Mar. 31, 2015
Common Stock Purchase Agreement	6	Common Stock Purchase Agreement
	On January 24, 2013, the Company entered into a Common Stock Purchase Agreement (“Purchase Agreement”), with Aspire Capital Fund, LLC to sell, at the Company’s option, up to an aggregate of $12.0 million of shares of its common stock over a two-year term, which expires in June 2015. Under the Purchase Agreement, the Company initially issued 132,743 shares of its common stock as a commitment fee. The Company’s sales, if any, to Aspire will be made subject to market conditions, in light of its capital needs and under various limitations contained in the Purchase Agreement, including a floor price of $1.00 per share required by the Purchase Agreement. The Company was not eligible to sell any shares under the Purchase Agreement during the purchase period ended March 31, 2015 because the trading price of its common stock did not exceed the $1.00 floor price. The Company has not yet sold any shares under the Purchase Agreement, which expires in June 2015.
	Over the term of the Purchase Agreement, assuming the Company’s common stock is trading above the $1.00 floor price that is required to use the facility, the Company has two ways to elect to sell common stock to Aspire on any business day the Company selects: (1) through a regular purchase of up to 100,000 shares at prices based on the market price of the Company’s common stock prior to the time of each sale, and (2) through a volume weighted average price (“VWAP”), purchase of a number of shares up to 30% of the volume traded on the purchase date at a price equal to the lesser of the closing sale price or 95% of the VWAP for such purchase date.
	The Company also entered into a Registration Rights Agreement with Aspire, which requires, among other things, that the Company maintain the effectiveness of the Company’s registration statement that registered the shares issued and issuable to Aspire under the Purchase Agreement.

Followon_Public_Offerings

Follow-on Public Offerings	3 Months Ended
	Mar. 31, 2015
Follow-on Public Offerings	7	Follow-on Public Offerings
	On January 30, 2013, the Company closed a follow-on underwritten public offering of 6,900,000 shares of its common stock, at an offering price of $2.00 per share, for gross proceeds of $13.8 million. The net offering proceeds received by the Company, after deducting underwriting discounts and commissions and expenses incurred in connection with the offering, were approximately $12.8 million.
	On April 8, 2014, the Company closed a follow-on underwritten public offering of 6,452,000 shares of its common stock, at an offering price of $1.55 per share, for gross proceeds of $10.0 million. The net offering proceeds received by the Company, after deducting underwriting discounts and commissions and expenses incurred in connection with the offering, were approximately $9.0 million.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events	8	Subsequent Events
	Series A Preferred Stock Financing with Flagship
	On May 12, 2015, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with the Company’s principal stockholders, Applied Genomic Technology Capital Fund, L.P., AGTC Advisors Fund, L.P. and Flagship Ventures Fund 2007 L.P. (the “Purchasers”), which are affiliates of our directors, Noubar B. Afeyan, Ph.D. and Harry W. Wilcox. Pursuant to the terms and subject to the conditions contained in the Purchase Agreement, the Company issued and sold to the Purchasers secured convertible promissory notes in aggregate principal amount of $500,000 (the “Notes”). In addition and pursuant to the terms of the Purchase Agreement, and subject to the approval of the Company’s stockholders at the Company’s 2015 annual meeting of stockholders (the “2015 Annual Meeting”) and the satisfaction or waiver of other closing conditions, the Company has agreed to issue and sell to the Purchasers $2,000,000 of shares of newly created Series A Preferred Stock, $0.001 par value per share (the “Series A Preferred Stock”), of the Company at the second closing to be held following the Company’s 2015 Annual Meeting (the “Second Closing”). The Notes and Series A Preferred Stock will not be and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. The issuance of the Notes and the Series A Preferred Stock are collectively referred to herein as the “Private Placement Financing.”
	Secured Convertible Promissory Notes and Related Agreements
	Subject to the approval of the issuance of the Series A Preferred Stock by the Company’s stockholders at the 2015 Annual Meeting, at the Second Closing the Notes will be automatically converted pursuant to their terms into that number of shares of Series A Preferred Stock equal to the principal amount of the Notes plus all accrued but unpaid interest thereon divided by the Purchase Price of the Series A Preferred Stock. The Notes will not be convertible into shares of Series A Preferred Stock unless and until the Company’s stockholders approve the issuance of shares of Series A Preferred Stock and the Second Closing is consummated. If the Notes have not been repaid or converted prior to the earlier of September 30, 2015 and the date the Company terminates the Purchase Agreement in accordance with its terms, the Company will be obligated to repay the outstanding principal amount of the Notes plus any accrued but unpaid interest thereon. In the event of a Change of Control (as defined in the Notes), the holders of the Notes will be entitled to the payment of a premium equal to two times the outstanding principal of the Notes, in addition to the payment of principal amount and accrued but unpaid interest thereon.
	Contemporaneously with the execution and delivery of the Purchase Agreement and the issuance of the Notes by the Company to the Purchasers, the Company and the Purchasers entered into a Security Agreement (the “Security Agreement”), dated May 12, 2015, pursuant to which the Company granted to the Purchasers a security interest in substantially all of the Company’s assets, other than the Company’s intellectual property, to secure the Company’s obligations under the Notes. Pursuant to the terms of the Security Agreement, the Company’s intellectual property will become subject to the security interest granted by the Company to the Purchasers upon repayment of all amounts owed under that certain Loan and Security Agreement by and among the Company, General Electric Capital Corporation (“GECC”) as Agent, the Lenders and the Guarantors dated as of February 10, 2012, as amended (“the “GECC Agreement”). Pursuant to a Subordination and Intercreditor Agreement by and among the Company, the Purchasers and GECC , dated May 12, 2015, entered into contemporaneously with the execution and delivery of the Purchase Agreement, the Company’s payment obligations under the Notes are subordinated to the Company’s payment obligations under the GECC Agreement and the security interest granted by the Company to the Purchasers to secure the Company’s obligations under the Notes is subordinated to the security interest granted by the Company to GECC to secure the Company’s obligations under the GECC Agreement. In connection with the entry into the Purchase Agreement, the Company and GECC amended the GECC Agreement, dated May 12, 2015, to, among other things, permit the Company to enter into the Purchase Agreement and related agreements.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Product Revenues	Product Revenues
	Product revenues are recognized when the following criteria have been met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred and risk of loss has passed; (iii) the seller’s price to the buyer is fixed or determinable; and (iv) collectability is reasonably assured.
	The Company sells its products through supply agreements with laboratory testing services and diagnostic testing distributors and directly to hospitals and clinics. The Company recognizes revenue when products are received by customers, at which time both title and risk of loss have passed to the customers. The Company negotiates credit terms on a customer-by-customer basis and products are shipped at an agreed-upon price.
	Revenue is recorded net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Freight costs billed to customers are recorded as revenue.
	The Company does not currently provide an allowance for doubtful accounts or a reserve for sales returns as the Company has not experienced any credit losses, and returns are only allowed for defects in workmanship.
Inventory	Inventory
	Inventory is stated at the lower of cost or market. Costs are determined under the first-in, first-out (FIFO) method. Inventories consisted of the following:
		March 31, 2015			December 31, 2014
		(in thousands)
	Raw materials	$	64		$	64
	Finished goods		216			336
	Total inventories	$	280		$	400
Net Loss Per Share	Net Loss Per Share
	Basic and diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Because the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for all periods presented.
	The following table summarizes the computation of basic and diluted net loss per share for three months ended March 31, 2015 and 2014:
		Three months Ended March 31,
		2015			2014
		(in thousands, except share and per share data)
	Net loss	$	(1,348	)	$	(2,179	)
	Weighted average number of shares - basic and diluted		34,559,173			27,936,530
	Net loss per share - basic and diluted	$	(0.04	)	$	(0.08	)
	For the three months ended March 31, 2015 and 2014, the following potential common shares were excluded from the computation of diluted net loss per share because they had an antidilutive impact due to the losses reported:
		Three months Ended March 31,
		2015			2014
	Options to purchase common stock		3,710,561			3,053,979
	Warrants to purchase common stock		745,749			864,555

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Inventories	Inventories consisted of the following:
		March 31, 2015			December 31, 2014
		(in thousands)
	Raw materials	$	64		$	64
	Finished goods		216			336
	Total inventories	$	280		$	400
Summary of Computation of Basic and Diluted Net Loss per Share	The following table summarizes the computation of basic and diluted net loss per share for three months ended March 31, 2015 and 2014:
		Three months Ended March 31,
		2015			2014
		(in thousands, except share and per share data)
	Net loss	$	(1,348	)	$	(2,179	)
	Weighted average number of shares - basic and diluted		34,559,173			27,936,530
	Net loss per share - basic and diluted	$	(0.04	)	$	(0.08	)
Common Shares Excluded from Computation of Diluted Net Loss per Share	For the three months ended March 31, 2015 and 2014, the following potential common shares were excluded from the computation of diluted net loss per share because they had an antidilutive impact due to the losses reported:
		Three months Ended March 31,
		2015			2014
	Options to purchase common stock		3,710,561			3,053,979
	Warrants to purchase common stock		745,749			864,555

Description_of_Business_and_Ba1

Description of Business and Basis of Presentation - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended	12 Months Ended	0 Months Ended		6 Months Ended	3 Months Ended	4 Months Ended	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Dec. 31, 2014	Apr. 08, 2014	Jan. 30, 2013	Dec. 31, 2014	Jun. 30, 2015	Apr. 30, 2015	Dec. 31, 2013
	Entity		Employee
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash	$1,612,000	$4,253,000	$1,612,000	$4,123,000			$4,123,000			$7,751,000
Loan facility	1,856,000		1,856,000	2,960,000			2,960,000
Stockholders' deficit	-566,000		-566,000	557,000			557,000
Net loss	-1,348,000	-2,179,000
Net cash flows used in operating activities	-1,391,000	-2,379,000
Cash for payments on term loan facility	1,120,000	1,120,000
Number of leading diagnostic instrument manufactures	4
Reduction in workforce, percentage			68.00%
Number of employees eliminated			15
Number of employees remaining after restructuring activities			7
Severance payments and benefits continuation	50,000			404,000
Savings in employee salaries and benefits	2,100,000		2,100,000
Reverse stock split	The Company's plan of compliance includes, among other elements, effecting a reverse stock split of the Company's common stock at a ratio in the range of 12 to 16, such ratio to be determined by the Company's Board of Directors, and the issuance of shares of Series A Preferred in the Private Placement Financing (as defined below), both of which the Company will be seeking stockholder approval for at the Company's 2015 annual meeting of stockholders.
NASDAQ Capital Market requirements
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Minimum closing bid price of common stock	$1
Minimum stockholders' equity	2,500,000		2,500,000
Underwritten Public Offering
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Shares of common stock under public offering					6,452,000	6,900,000
Common stock Offering price					$1.55	$2
Gross proceeds offering					10,000,000	13,800,000
Offering proceeds net of underwriting discounts, commissions and expenses					9,000,000	12,800,000
Employee Severance
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Payment for severance payments and benefits continuation	155,000						277,000
Employee Severance | Scenario, Forecast
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Payment for severance payments and benefits continuation								22,000
Maximum
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Common stock splits ratio	0.5
Minimum
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Common stock splits ratio	0.1667
Subsequent Event
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash									700,000
Loan facility									1,500,000
Cash for payments on term loan facility									$1,500,000
Centers for Medicare And Medicaid Services
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Reimbursed price per test	29.93			30.01						17.8
Centers for Medicare And Medicaid Services | Ohio
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Reimbursed price per test	23.93
Centers for Medicare And Medicaid Services | WEST VIRGINIA
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Reimbursed price per test	26.33

Summary_of_Inventories_Detail

Summary of Inventories (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]
Raw materials	$64	$64
Finished goods	216	336
Total inventories	$280	$400

Summary_of_Computation_of_Basi

Summary of Computation of Basic and Diluted Net Loss Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net loss	($1,348)	($2,179)
Weighted average number of shares - basic and diluted	34,559,173	27,936,530
Net loss per share - basic and diluted	($0.04)	($0.08)

Common_Shares_Excluded_From_Co

Common Shares Excluded From Computation of Diluted Net Loss Per Share (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	3,710,561	3,053,979
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	745,749	864,555

Term_Loan_Additional_Informati

Term Loan - Additional Information (Detail) (USD $)	0 Months Ended	1 Months Ended	3 Months Ended
	Feb. 10, 2012	31-May-13	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Loan facility			$1,856,000	$2,960,000
Term loans
Debt Instrument [Line Items]
Loan facility amount borrowed	10,000,000
Line of credit, interest rate			8.00%
Interest rate description			The term loan accrues interest at a rate of 8% per annum plus the higher of (a) the 3-month LIBOR rate or (b) 1.25%. The interest rate in effect at March 31, 2015 was 9.25% per annum.
Line of credit, current interest rate			9.25%
Increase in loan fee		50,000
Monthly debt payments			370,000
Final loan repayment date			1-Aug-15
Warrant issued to purchase common stock	36,657	110,401
Exercise price of common stock	$6.82	$1.70
Warrant expiration period	10 years
Fair value of the underlying common stock	$8.51
Warrant, volatility	70.00%
Warrant, weighted average risk-free interest rate	1.96%
Warrant, expected life	10 years
Warrant fair value	240,000
Additional debt discount		$163,000
Term loans | 3-month LIBOR rate
Debt Instrument [Line Items]
Interest rate			1.25%

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	Mar. 31, 2015
Commitments and Contingencies [Line Items]
Accrued other contingencies	$0

Common_Stock_Purchase_Agreemen1

Common Stock Purchase Agreement - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended
	Jan. 24, 2013	Mar. 31, 2015
Maximum
Schedule Of Common Share Purchase [Line Items]
Additional purchase of common stock		100,000
Common Stock Purchase Agreement | Aspire Capital Fund LLC
Schedule Of Common Share Purchase [Line Items]
Common stock sale amount under purchase agreement	$12,000,000
Common shares issued as consideration for common stock purchase agreement	132,743
Common stock sale period	2 years
Common stock purchase agreement, company's closing stock price per share		$1
Common stock available for sale amount under purchase agreement		$0
Common Stock Purchase Agreement | Aspire Capital Fund LLC | Common Stock
Schedule Of Common Share Purchase [Line Items]
Common stock purchase agreement, expiration date		2015-06
Closing Sale Price | Maximum
Schedule Of Common Share Purchase [Line Items]
Percentage of shares to purchase		30.00%
VWAP
Schedule Of Common Share Purchase [Line Items]
Percentage of closing sale price		95.00%

Followon_Public_Offerings_Addi

Follow-on Public Offerings - Additional Information (Detail) (Underwritten Public Offering, USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Apr. 08, 2014	Jan. 30, 2013	Apr. 08, 2014	Jan. 30, 2013
Underwritten Public Offering
Equity [Line Items]
Shares of common stock under public offering	6,452,000	6,900,000
Common stock Offering price	$1.55	$2	$1.55	$2
Gross proceeds offering	$10	$13.80
Offering proceeds net of underwriting discounts, commissions and expenses	$9	$12.80

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	12-May-15
Secured convertible promissory notes
Subsequent Event [Line Items]
Notes to be repaid or converted, end date	30-Sep-15
If the Notes have not been repaid or converted prior to the earlier of September 30, 2015 and the date the Company terminates the Purchase Agreement in accordance with its terms
Subsequent Event [Line Items]
Notes Settlement terms	The Company will be obligated to repay the outstanding principal amount of the Notes plus any accrued but unpaid interest thereon
In the event of a Change of Control
Subsequent Event [Line Items]
Notes Settlement terms	The holders of the Notes will be entitled to the payment of a premium equal to two times the outstanding principal of the Notes, in addition to the payment of principal amount and accrued but unpaid interest thereon
Securities Purchase Agreement
Subsequent Event [Line Items]
Notes to be repaid or converted, end date	12-May-15
Subsequent Event
Subsequent Event [Line Items]
Preferred stock approved to issue and sell		$2,000,000
Preferred stock at par value		$0.00
Subsequent Event | Secured convertible promissory notes
Subsequent Event [Line Items]
Principal amount of secured convertible promissory notes issued and sold		$500,000