TriVascular (TRIV) 10-Q 8 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document And Entity Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'TRIV	'
Entity Registrant Name	'TriVascular Technologies, Inc.	'
Entity Central Index Key	'0001432732	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	20,273,938

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets	'	'
Cash and cash equivalents	$95,657	$38,108	[1]
Accounts receivable	5,660	4,741	[1]
Inventories, net	7,584	7,042	[1]
Prepaid expenses and other current assets	2,440	2,435	[1]
Total current assets	111,341	52,326	[1]
Property and equipment, net	1,383	1,505	[1]
Goodwill	8,259	8,259	[1]
Other intangible assets	1,182	1,182	[1]
Other assets	597	1,428	[1]
Total assets	122,762	64,700	[1]
Current liabilities	'	'
Accounts payable	1,960	1,678	[1]
Accrued liabilities and other	6,756	6,129	[1]
Total current liabilities	8,716	7,807	[1]
Notes payable	44,237	44,288	[1]
Other long term liabilities	3,876	1,413	[1]
Total liabilities	56,829	53,508	[1]
Commitments and contingencies (Note 8)	'	'	[1]
Convertible preferred stock	'	239,990	[1]
Stockholders’ equity (deficit)	'	'
Common stock, $0.01 par value -100,000,000 shares authorized, 19,966,098 and 580,458 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	200	6	[1]
Additional paid-in capital	333,130	9,551	[1]
Accumulated other comprehensive income	119	166	[1]
Accumulated deficit	-267,516	-238,521	[1]
Total stockholders’ equity (deficit)	65,933	-228,798	[1]
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	$122,762	$64,700	[1]
[1]	The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United Stated of America.

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Common stock, par value	$0.01	$0.01	[1]
Common stock, shares authorized	100,000,000	100,000,000	[1]
Common stock, shares issued	19,966,098	580,458	[1]
Common stock, shares outstanding	19,966,098	580,458	[1]
[1]	The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United Stated of America.

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue	$7,798	$4,826	$14,832	$7,768
Cost of goods sold	3,463	3,158	7,128	5,146
Gross profit	4,335	1,668	7,704	2,622
Operating expenses:	'	'	'	'
Sales, general and administrative	13,008	9,695	25,200	17,200
Research and development	4,066	3,145	7,872	6,314
Total operating expenses	17,074	12,840	33,072	23,514
Loss from operations	-12,739	-11,172	-25,368	-20,892
Other income (expense):	'	'	'	'
Interest expense	-2,454	-1,586	-4,143	-3,141
Interest income and other income (expense), net	698	-55	616	-36
Loss before income tax expense	-14,495	-12,813	-28,895	-24,069
Provision for income tax	77	20	100	47
Net loss	-14,572	-12,833	-28,995	-24,116
Other comprehensive (loss) income:	'	'	'	'
Change in foreign currency translation adjustment	-27	37	-47	-39
Other comprehensive (loss) income	-27	37	-47	-39
Comprehensive loss	($14,599)	($12,796)	($29,042)	($24,155)
Net loss per share, basic and diluted	($0.87)	($22.33)	($3.30)	($41.99)
Weighted average shares used to compute net loss per share, basic and diluted	16,810,098	574,720	8,788,843	574,392

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013
Cash flows from operating activities	'		'
Net loss	($28,995,000)		($24,116,000)
Adjustments to reconcile net loss to net cash used in operating activities	'		'
Depreciation and amortization of property and equipment	273,000		640,000
Amortization of debt issuance costs and debt discount	336,000		219,000
Provision for excess and obsolete inventory	471,000		81,000
Changes in fair value of warrants	-633,000		10,000
Amortization of intangibles acquired in business combination	0		35,000
Stock-based compensation expense	1,135,000		531,000
Non-cash interest expense on notes payable	1,295,000		591,000
Changes in assets and liabilities	'		'
Accounts receivable	-917,000		-2,280,000
Inventories	-1,014,000		143,000
Prepaid expenses and other current assets	664,000		-265,000
Accounts payable	199,000		529,000
Accrued liabilities and other	540,000		1,180,000
Net cash used in operating activities	-26,646,000		-22,702,000
Cash flows from investing activities	'		'
Purchase of property and equipment	-67,000		-191,000
Net cash used in investing activities	-67,000		-191,000
Cash flows from financing activities	'		'
Proceeds from initial public offering, net	81,361,000		'
Repayments of existing notes payable	-4,599,000		'
Proceeds from notes payable	6,000,000		'
Proceeds from issuance of common stock	1,508,000		23,000
Net cash provided by financing activities	84,270,000		23,000
Effects of exchange rate changes on cash	-8,000		4,000
Net increase (decrease) in cash and cash equivalents	57,549,000		-22,866,000
Cash and cash equivalents	'		'
Beginning of period	38,108,000	[1]	45,393,000
End of period	95,657,000		22,527,000
Supplemental cash flow information	'		'
Interest paid on notes payable	2,513,000		2,320,000
Cash paid for income taxes	32,000		21,000
Significant non-cash transactions	'		'
Conversion of convertible preferred stock into common stock	239,990,000		'
Conversion of convertible preferred stock warrants into common stock warrants	648,000		'
Increase in deferred revenue related to distributor agreement	3,017,000		'
Unvested portion of early exercised stock options	901,000		'
Unpaid deferred offering costs	56,000		'
Vesting of early exercised stock options	153,000		4,000
Purchases of property and equipment included in accounts payable	$84,000		'
[1]	The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United Stated of America.

The_Company

The Company	6 Months Ended
	Jun. 30, 2014
The Company	'
	1	The Company
	TriVascular Technologies, Inc. (the “Company”) was incorporated in the state of Delaware in July 2007 and began operations on March 28, 2008. The Company is a medical device company developing and commercializing innovative technologies to significantly advance minimally invasive treatment of abdominal aortic aneurysms (“AAA”). The Ovation® System, the Company’s solution for the treatment of AAA through minimally invasive endovascular aortic repair (“EVAR”) is a new stent graft platform, providing an innovative and effective alternative to conventional devices. It is designed specifically to address many of the limitations associated with conventional EVAR devices and expand the pool of patients eligible for EVAR. The Company received CE Mark clearance in August 2010 and began commercial sales of its Ovation System in Europe in September 2010. In October 2012, the Company received approval from the U.S. Food and Drug Administration for the Ovation System for the treatment of AAA and began commercial sales in the United States in November 2012.
	As a medical device company with little commercial operating history, the Company is subject to all of the risks and expenses associated with a growing company. The Company must, among other things, respond to competitive developments, attract, retain and motivate qualified personnel, and support the expense of developing and marketing new products based on innovative technology. In the course of its development activities, the Company has sustained significant operating losses. Even if development and marketing efforts are successful, substantial time may pass before significant revenues will be realized, and during this period, the Company will require additional funds, the availability of which cannot be reasonably assured.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Summary of Significant Accounting Policies	'
	2	Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying Consolidated Financial Statements in this Quarterly Report on Form 10-Q have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These financial statements include the financial position, results of operations, and cash flows of the Company, including its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation.
	The interim financial data as of June 30, 2014, is unaudited and is not necessarily indicative of the results for a full year or any interim period. In the opinion of the Company’s management, the interim data includes all normal and recurring adjustments necessary for a fair statement of the Company’s financial results for the three and six months ended June 30, 2014. The December 31, 2013 consolidated balance sheet data was derived from audited financial statements. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to SEC rules and regulations relating to interim financial statements.
	The accompanying Consolidated Financial Statements should be read in conjunction with the Company’s audited Consolidated Financial Statements and Notes thereto included in the Company’s final prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, relating to the Company’s Registration Statement on Form S-1 (File No. 333-194466), filed with the SEC on April 17, 2014.
	On April 22, 2014, the Company completed its initial public offering (“IPO”) of 7,475,000 shares of common stock, which included the exercise in full by the underwriters in the offering of their option to purchase 975,000 additional shares of common stock, at an offering price of $12.00 per share. The Company received net proceeds of approximately $81.1 million, after deducting underwriting discounts and commissions and offering expenses. In connection with the IPO, the Company’s outstanding shares of convertible preferred stock were automatically converted into 11,601,860 shares of common stock and warrants exercisable for convertible preferred stock were automatically converted into warrants exercisable for 192,472 shares of common stock, resulting in the reclassification of the related redeemable convertible preferred stock warrant liability of $0.6 million to additional paid-in capital.
	Use of estimates
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates and such differences could be material.
	Segment Information
	The Company considers operating segments to be components of the Company in which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a consolidated basis, accompanied by information about revenue by geographic region, for purposes of allocating resources and evaluating financial performance. The Company has one business activity and there are no segment managers who are held accountable for operations, operating results or plans for levels or components below the consolidated unit level. Accordingly, the Company has determined that it has a single reportable and operating segment structure. The Company and its Chief Executive Officer evaluate performance based primarily on revenue in the geographic locations in which the Company operates.
	Revenues by geography are based on the billing address of the customer. The following table sets forth revenue by geographic area (in thousands):
		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2014				2013				2014				2013
	United States (U.S.)	$	5,176			$	2,574			$	9,778			$	3,515
	International		2,622				2,252				5,054				4,253
	Total	$	7,798			$	4,826			$	14,832			$	7,768
	The following table summarizes countries with revenues accounting for more than 10% of the total:
			Three Months Ended								Six Months Ended
			June 30,								June 30,
			2014				2013				2014				2013
	Germany		< 10		%			11	%		< 10		%			14	%
	Italy		< 10		%			14	%		< 10		%			16	%
	U.S.			66	%			53	%			66	%			45	%
	Long-lived assets and operating income outside the U.S. are not material; therefore disclosures have been limited to revenue.
	Cash and Cash Equivalents
	Cash and cash equivalents consist of demand deposit accounts and institutional money market funds held in U.S. and foreign banks. Cash equivalents consist of highly liquid investment securities with original maturities at the date of purchase of three months or less.
	Accounts Receivable
	Trade accounts receivable are recorded at the invoice amount and do not include interest. The Company regularly reviews accounts for collectability and establishes an allowance for probable credit losses and writes off uncollectible accounts as necessary. The Company has determined that no allowance was required at either of the periods presented.
	Inventories
	The Company values inventory at the lower of cost to purchase or manufacture the inventory or the market value for such inventory. Cost is determined using the standard cost method which approximates the first-in first-out method. The Company regularly reviews inventory quantities in consideration of actual loss experiences, projected future demand, and remaining shelf life to record a provision for excess and obsolete inventory when appropriate.
	Property and Equipment
	Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets.
	The depreciation and amortization periods for the Company’s property and equipment are as follows:
	Equipment and software	3 years
	Laboratory machinery and equipment	3–5 years
	Furniture and fixtures	5 years
	Leasehold improvements are amortized over the lesser of their useful lives or the remaining life of the lease. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation and amortization are removed from the consolidated balance sheet and the resulting gain or loss is reflected in operations in the period realized. Cost of maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized.
	Goodwill and Indefinite Lived Intangible Assets
	The Company has recorded goodwill and intangible assets on the consolidated balance sheets. The Company classifies intangible assets into three categories: (1) goodwill; (2) intangible assets with indefinite lives not subject to amortization; and (3) intangible assets with definite lives subject to amortization.
	Goodwill and intangible assets with indefinite lives are not amortized. The Company assesses goodwill and intangible assets with indefinite lives for impairment on an annual basis in the fourth quarter of each year or more frequently if indicators of impairment exist. For the purpose of testing goodwill for impairment, the Company has determined that it has one reporting unit.
	Deferred Offering Costs
	Deferred offering costs, consisting of legal, accounting and other fees and costs relating to the IPO, were capitalized until the successful completion of the Company’s IPO. The deferred offering costs were offset against the IPO proceeds upon the closing of the offering in April 2014. There were $0 and $0.7 million of deferred offering costs capitalized as of June 30, 2014 and December 31, 2013, respectively, in other assets on the consolidated balance sheets.
	Convertible Preferred Stock Warrant Liability
	Freestanding warrants related to convertible preferred stock shares that are contingently redeemable were classified as a liability on the Company’s accompanying consolidated balance sheet at December 31, 2013. The convertible preferred stock warrants were subject to re-measurement at each balance sheet date, and any change in fair value was recognized as a component of interest income and other income (expense), net. The Company continued to adjust the liability for changes in fair value until the completion of the IPO in April 2014, at which time all redeemable convertible preferred stock warrants were converted into warrants to purchase common stock and the liability was reclassified to additional paid-in capital. See Note 5.
	Revenue
	The Company recognizes revenue when all of the following criteria are met:
	·	persuasive evidence of an arrangement exists;
	·	the sales price is fixed or determinable;
	·	collection of the relevant receivable is probable at the time of sale; and
	·	delivery has occurred or services have been rendered.
	For sales directly to hospitals or medical facilities, the Company recognizes revenue upon completion of a procedure, which is when the product is implanted in a patient, and a valid purchase order has been received. For distributor sales, the Company recognizes revenue at the time of shipment of product, as this represents the point that the customer has taken ownership and assumed risk of loss. The Company does not offer rights of return or price protection and has no post-delivery obligations. The Company offers rights of exchange in limited circumstances for products with a short shelf life at the time of shipment, and has established a $69,000 and $0 reserve for such exchanges included in accrued liabilities and other in the consolidated balance sheets at June 30, 2014 and December 31, 2013, respectively.
	Income Taxes
	The Company records income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or income tax returns. In estimating future tax consequences, expected future events other than enactments or changes in the tax law or rates are considered. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount expected to be realized.
	The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. The Company provides for tax contingencies whenever it is deemed probable that a tax asset has been impaired or a tax liability has been incurred for events such as tax claims or changes in tax laws. Tax contingencies are based upon their technical merits, relative tax law, and the specific facts and circumstances as of each reporting period. Changes in facts and circumstances could result in material changes to the amounts recorded for such tax contingencies.
	The Company records uncertain tax positions on the basis of a two-step process whereby (1) a determination is made as to whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold the Company recognizes the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority.
	Other Comprehensive (Loss) Income
	Other comprehensive (loss) income represents all changes in stockholders’ equity (deficit) except those resulting from investments or contributions by stockholders. The Company’s other comprehensive (loss) income consists of its net loss and changes in accumulated other comprehensive income, which represents foreign currency translation adjustments.
	Currency Translation
	The Euro is the functional currency of the Company’s wholly-owned subsidiaries in Italy and Germany and the Swiss Franc is the functional currency of the Company’s wholly-owned subsidiary in Switzerland. Accordingly, the assets and liabilities of these subsidiaries are translated into United States dollars using the current exchange rate in effect at the balance sheet date and equity accounts are translated into United States dollars using historical rates. Revenues and expenses are translated using the average exchanges rates in effect when the transactions occur. Foreign currency translation adjustments are recorded within accumulated other comprehensive loss, a separate component of stockholders’ equity (deficit), on the consolidated balance sheets. Foreign exchange transaction gains and losses have not been material to the Company’s consolidated financial statements for all periods presented.
	Stock-Based Compensation
	The Company’s determination of the fair value of stock options on the date of grant and shares to be issued to employees under the Employee Stock Purchase Plan (“ESPP”) utilizes the Black-Scholes option-pricing model, and is impacted by its common stock price as well as changes in assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, expected common stock price volatility, expected term, risk-free interest rates and expected dividends.
	The fair value is recognized over the period during which services are rendered, known as the requisite service period on a straight-line basis for awards that vest based on service conditions. Stock-based compensation expense recognized at fair value includes the impact of estimated forfeitures. The Company estimates future forfeitures at the date of grant and revises the estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
Equity instruments issued to non-employees are recorded at their fair value on the measurement date and are subject to periodic adjustments as the underlying equity instruments vest. The fair value of options granted to consultants is expensed when vested. The non-employee stock-based compensation expense was not material for all periods presented.
Cash flows resulting from the tax benefits for tax deductions resulting from the exercise of stock options in excess of the compensation expense recorded for those options (excess tax benefits) are classified as cash flows from financing activities in the consolidated statements of cash flows.
Estimating the fair value of equity-settled awards as of the grant date using valuation models, such as the Black-Scholes option pricing model, is affected by assumptions regarding a number of complex variables. Changes in the assumptions can materially affect the fair value and ultimately how much stock-based compensation expense is recognized. These inputs are subjective and generally require significant analysis and judgment to develop. For valuations of all equity awards utilizing the Black-Scholes option-pricing model to date, we estimated the expected term and the volatility data based on a study of publicly traded industry peer companies. For purposes of identifying these peer companies, we considered the industry, stage of development, size and financial leverage of potential comparable companies. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term of the equity-settled award.
Net Loss per Share
Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares that were outstanding for the period, without consideration for potential common shares. Prior to April 22, 2014, the Company had convertible preferred stock, all of which converted into common stock at the closing of the IPO.  Because the holders of the Company’s convertible preferred stock and its restricted common shares were entitled to participate in dividends and earnings of the Company when dividends are paid on common stock, the Company applies the two-class method in calculating its earnings per share for periods when the Company generates net income. The two-class method requires net income to be allocated between the common and preferred stockholders based on their respective rights to receive dividends, whether or not declared. Because the convertible preferred stock and restricted common stock were not contractually obligated to share in the Company’s losses, no such allocation was made for any period presented given the Company’s net losses. Diluted net loss per share is calculated by dividing the net loss by the sum of the weighted-average number of dilutive potential common shares outstanding for the period determined using the treasury-stock method or the as-converted method. Potentially dilutive shares are comprised of convertible preferred stock, convertible preferred stock and common stock warrants, shares purchased with nonrecourse loans and options outstanding under our equity incentive plans. Purchase rights granted pursuant to the Company’s ESPP are excluded from the basic net loss per share calculation because the employee’s participation in the Plan is revocable, and such rights will not be included until the shares subject to the purchase rights are purchased by the employee.  For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to our net loss and potentially dilutive shares being anti-dilutive.
The following equity shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (shares for the convertible preferred stock and convertible preferred stock warrants were determined based on the applicable conversion ratios):
		Three Months Ended June 30,								Six Months Ended June 30,
		2014				2013				2014				2013
Convertible preferred stock			1,912,395				9,071,203				6,703,297				9,071,203
Employee stock options			2,192,423				1,525,531				1,849,739				1,497,082
Convertible preferred stock warrants			27,015				192,472				124,159				192,472
Common stock warrants			391,152				426,878				408,367				426,878
Total			4,522,985				11,216,084				9,085,562				11,187,635

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2014
Recent Accounting Pronouncements	'
	3	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update (“ASU”) No. 2014-09.  ASU 2014-09 provided guidance related to revenue from contracts with customers. Under this guidance, revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The updated standard will replace most existing revenue recognition guidance under GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Early adoption is not permitted. The updated standard will be effective for the Company in the first quarter of 2017. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures.

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2014
Stock-Based Compensation	'
	4	Stock-Based Compensation
	The Company classifies stock-based compensation expense in the accompanying Consolidated Statements of Comprehensive Loss based on the department to which a recipient belongs. The following table sets forth stock-based compensation expense related to options granted to employees for all periods presented, as well as stock-based compensation expense estimated for the discount applicable to projected ESPP purchase rights in the three and six months ended June 30, 2014 (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Cost of goods sold	$	65	$	16	$	86	$	33
	Research and development		91		55		153		111
	Sales, general and administrative		517		205		896		387
	Total	$	673	$	276	$	1,135	$	531

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Measurements	'
	5.Fair Value Measurements
	The carrying amount of certain financial instruments, including accounts receivable, accounts payable, and accrued liabilities approximate fair value due to their relatively short maturities.
	The Company discloses and recognizes the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). The guidance establishes three levels of the fair value hierarchy as follows:
	Level 1		Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date;
	Level 2	Inputs other than quoted prices that are observable for the assets or liability either directly or indirectly, including inputs in markets that are not considered to be active;
	Level 3	Inputs that are unobservable.
	Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.
	Based upon Level 2 inputs and the borrowing rates currently available for loans with similar terms, the Company believes that the fair value of its notes payable approximates its carrying value for all periods presented.
	At June 30, 2014, the Company had no financial instruments measured at fair value on a recurring basis by level, as all such financial instruments were converted to additional paid-in capital upon the completion of the IPO in April 2014.
	The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis at December 31, 2013 by level within the fair value hierarchy (in thousands):
		Assets or Liabilities at Fair Value
		Level 1			Level 2			Level 3		Total
	Liabilities
	Series C convertible preferred stock warrant liability	$	—		$	—		$	72	$	72
	Series D convertible preferred stock warrant liability		—			—			1,208		1,208
	Total	$	—		$	—		$	1,280	$	1,280
	The fair value of the Company’s Series C and D convertible preferred stock warrant liabilities was based on Level 3 inputs. The Company valued the Series C convertible preferred stock warrant liabilities and the Series D convertible preferred stock warrant liabilities using the Black-Scholes model as well as the residual value approach.
	The table below presents the activity of Level 3 liabilities during the periods indicated (in thousands):
		June 30,			December 31,
		2014			2013
	Warrant liabilities balance at the beginning of the period	$	1,280		$	1,424
	Change in fair value of warrant liabilities		(633	)		(144	)
	Transfer of warrant liabilities to additional paid-in capital		(647	)		—
	Warrant liabilities balance at the end of the period	$	—		$	1,280

Balance_Sheet_Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2014
Balance Sheet Components	'
	6	Balance Sheet Components
	Inventories
	Inventories consisted of the following (in thousands):
		June 30,			December 31,
		2014			2013
	Raw material	$	3,498		$	2,394
	Work-in-process and sub-assemblies		3,898			1,951
	Finished goods		188			2,697
	Total	$	7,584		$	7,042
	Property and equipment
	Property and equipment consist of the following (in thousands):
		June 30,			December 31,
		2014			2013
	Laboratory, machinery and equipment	$	7,129		$	7,024
	Equipment and software		2,152			2,150
	Leasehold improvements		5,657			5,657
	Furniture and fixtures		317			317
			15,255			15,148
	Less: Accumulated depreciation and amortization		(13,872	)		(13,643	)
	Total	$	1,383		$	1,505
	The Company recognized depreciation and amortization expense on property and equipment during the periods indicated as follows (in thousands):
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014		2013
	Depreciation and amortization expense	$	132		$	262		$	273	$	640
	Goodwill and other intangible assets, net
	The goodwill on the consolidated balance sheets was $8.3 million for all periods presented.
	The gross carrying amount of the intangible assets on the accompanying consolidated balance sheets was $1.2 million for all periods presented. Amortization expense for the six months ended June 30, 2014 and 2013 was $0 and $35,000, respectively.
	Accrued liabilities and other
	Accrued liabilities and other consist of the following on the accompanying consolidated balance sheets (in thousands):
		June 30,			December 31,
		2014			2013
	Accrued compensation and related expenses	$	5,232		$	4,263
	Other accrued expenses		1,524			1,866
	Total	$	6,756		$	6,129

Distribution_Agreement

Distribution Agreement	6 Months Ended
	Jun. 30, 2014
Distribution Agreement	'
	7	Distribution Agreement
	On January 1, 2014, the Company entered into a distribution agreement (the “Distribution Agreement”) with Century Medical, Inc. (“Century”) with respect to the anticipated distribution of the Company’s Ovation and Ovation Prime™ medical devices in Japan. Under the terms of a secured note purchase agreement, Century agreed to loan the Company an aggregate of up to $6.0 million, with principal due in January 2019, under the agreement, subject to certain conditions. Under this facility, the Company received $4.0 million on January 10, 2014 and received the remaining $2.0 million on March 18, 2014 as the Company had achieved trailing 12-month revenues of $20 million and no material adverse event had occurred. The notes bear 5% annual interest which is payable quarterly in arrears through January 9, 2019, the maturity date when the entire principal balance becomes due. In return for the loan commitment, the Company granted Century distribution rights to the Company’s planned Ovation and Ovation Prime product line in Japan, and a right of first negotiation for distribution rights in Japan to future products. Century will be responsible for securing regulatory approval from the Ministry of Health in Japan for the Ovation and Ovation Prime product line.
	Proceeds from the note and granting the distribution rights were allocated to the note based on its aggregate fair value of $3.0 million at the dates of receipt. This fair value was determined by discounting cash flows using a discount rate of 15%, which the Company estimated as market rate of borrowing that could be obtained by companies with credit risk similar to the Company’s. The remainder of the proceeds of $3.0 million was recognized as debt issuance discount and allocated to the value of the distribution rights granted to Century under the Distribution Agreement. It is included in deferred revenue in other long term liabilities on the consolidated balance sheets. The deferred revenue will be recognized on a straight-line basis over the term of the Distribution Agreement, beginning upon the first sale by Century of the Ovation and Ovation Prime products in Japan.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies	'
	8	Commitments and Contingencies
	Operating Leases
	The Company’s headquarters’ facility lease expires on February 28, 2018. The Company also has small office leases in its subsidiary locations. Total lease expense for the periods indicated was as follows (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Lease expense	$	287	$	276	$	568	$	541
	The Company recognizes lease expense on a straight-line basis over the life of the lease. In addition to the lease obligation, the Company pays for common area maintenance and insurance for the facility. The Company also has various office equipment leases for copiers and postage machines.
	Contingencies
	From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. There were no contingent liabilities requiring accrual at June 30, 2014.
	Employment Agreements
	The Company enters into employment agreements with its executive officers. The contracts do not have a fixed term and are constructed on an at-will basis. Some of these contracts provide executives with the right to receive certain additional payments and benefits after a change in control, as defined in such agreements.
	Indemnification
	The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claim by any third party with respect to the Company’s technology. The term of these indemnification agreements is generally perpetual. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future, but have not yet been made.
	The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual.
	The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. No liability associated with such indemnifications has been recorded to date.

Notes_Payable

Notes Payable	6 Months Ended
	Jun. 30, 2014
Notes Payable	'
	9	Notes Payable
	Century Medical, Inc. Subordinated Loan
	In connection with the Distribution Agreement with Century (see Note 7), the Company entered into a secured note purchase agreement and a related security agreement, pursuant to which Century agreed to loan to the Company up to an aggregate of $6.0 million, which amount was received in the first quarter ended March 31, 2014. Under this facility, the Company received $4.0 million on January 10, 2014, and the remaining $2.0 million on March 18, 2014. This note bears 5% annual interest which is payable quarterly in arrears on the last business day of March, June, September and December of each year through January 9, 2019, the maturity date when the total $6.0 million of principal becomes due. The debt issuance discount of approximately $3.0 million is reflected as a reduction in long-term debt and is being amortized as interest expense over the term of the note using the effective interest method. The loan contains various affirmative and negative covenants and customary events of default, including if a material adverse change occurs with respect to the Company’s business, operations or financial condition, and is subordinated to the Company’s term loan with Capital Royalty.
	The Company made interest payments of $75,000 and $123,000 in the three and six months ended June 30, 2014, respectively.
	Capital Royalty Term Loan
	On October 12, 2012, the Company executed a Term Loan Agreement with Capital Royalty Partners II L.P. and its affiliate Parallel Investment Opportunities Partners II L.P. (collectively “Capital Royalty”) for up to a $50 million term loan to be used to pay off the Company’s then existing senior notes held by a previous lender and to fund operations. The first tranche of $40 million was drawn prior to March 31, 2013, and an additional amount up to $10 million could have been available upon achievement of a revenue-based milestone, if notice of that achievement was issued by May 31, 2014. While the Company timely achieved the revenue-based milestone, it elected not to draw down additional funds.  No further drawdowns are available as of June 30, 2014. The loan bears interest at a rate of 14.0%, based upon a year of 360 days and actual days elapsed. Prior to September 30, 2017, the Company may at its election pay the interest as follows: 11.5% per annum paid in cash and 2.5% per annum paid in-kind in the form of additional term loans, or PIK Loans. Payments under the loan are made on a quarterly basis with payment dates fixed at the end of each calendar quarter (“Payment Dates”). The notes are interest-only through the 14th Payment Date (March 31, 2016) following funding. Following the interest-only period principal payments are made in equal installments at the end of the six subsequent calendar quarters. The notes mature on the 20th Payment Date (September 30, 2017).  In connection with the loan, the Company paid a loan origination fee of 1% and issued warrants to purchase 167,611 shares of common stock at $0.41 per share. The initial fair value of the warrants was $496,000 and resulted in a discount to the notes payable, which is being accreted to interest income and other income (expense), net in the statements of comprehensive loss over the life of the loan. The notes had a prepayment premium of 5% of the aggregate outstanding principal, including PIK Loans, if the loan was prepaid prior to the end of the fourth Payment Date (September 30, 2013). The amount of the prepayment premium decreases by 1% during each subsequent 12-month period thereafter.
	The term loan is collateralized by a first priority security interest on all of the Company’s assets excluding property not assignable without consent by a third party, trademarks that would be invalid by reason of including it in the collateral and 35% of the ownership interest in a foreign subsidiary.
	The loan and security agreement contains customary representations and warranties, covenants, events of defaults and termination provisions. The affirmative covenants include, among other things, that the Company timely file taxes, maintain good standing and government compliance, achieve minimum annual revenue thresholds, maintain liability and other insurance, and provide security interests to Capital Royalty in the collateral of any subsidiary formed or acquired by the Company in the future. The negative covenants provide, among other things, that without the prior consent of Capital Royalty (subject to certain exceptions), the Company may not dispose of certain assets, engage in certain business combinations or acquisitions, incur additional indebtedness or encumber any of the Company’s property, pay dividends on the Company’s capital stock or make prohibited investments. The loan and security agreement provides that an event of default will occur if, among other triggers, (1) the Company defaults in the payment of any amount payable under the agreement when due, (2) there occurs any circumstance or circumstances that could reasonably be expected to result in a material adverse effect on the Company’s business, operations or condition, or on the Company’s ability to perform its obligations under the agreement, (3) the Company becomes insolvent, (4) the Company undergoes a change in control or (5) the Company breaches any negative covenants or certain affirmative covenants in the agreement or, subject to a cure period, otherwise neglects to perform or observe any material item in the agreement. The repayment of the term loan may be accelerated, at the option of Capital Royalty, following the occurrence of an event of default, which would require the Company to pay to Capital Royalty an amount equal to the sum of: (i) all outstanding principal plus accrued interest, (ii) the final payment, plus (iii) all other sums, that shall have become due and payable but have not been paid, including interest at the default rate with respect to any past due amounts plus the prepayment premium.
	The first measurement date for the minimum annual revenue covenant was April 30, 2014, with subsequent measurement dates at the end of subsequent twelve-month periods.
	As of June 30, 2014, the Company was in compliance with all of the covenants.
	Boston Scientific Corporation Note Payable
	In March 2008, in conjunction with the acquisition of Boston Scientific Santa Rosa, or BSSR, the Company issued a promissory note in the amount of approximately $3.5 million to the prior owners of BSSR as part of the purchase consideration. The note bore an interest rate of 5.25% per annum and would have matured on March 28, 2018 per the original terms. The note (along with unpaid accrued interest) was repayable upon the earlier of (a) the date upon which initial public offering is consummated, or (b) the sale of the Company, including liquidation, dissolution or winding up. The Company repaid the note in full, including all accrued interest and the unamortized debt discount, subsequent to the closing of the IPO in April 2014.  Warrants to purchase up to 223,487 shares of common stock expired unexercised upon the IPO in April 2014.

Stockholders_Equity_Deficit

Stockholders' Equity (Deficit)	6 Months Ended
	Jun. 30, 2014
Stockholders' Equity (Deficit)	'
	10	Stockholders’ Equity (Deficit)
	In February 2014, the Company’s board of directors and stockholders approved an amendment to the amended and restated certificate of incorporation effecting a reverse stock split within a specified range with the final ratio to be determined by a committee of the board of directors. In March 2014, the committee of the board of directors approved a 1-for-40.57 reverse stock split of the Company’s issued and outstanding shares of common stock and the corresponding adjustments to the conversion ratio of the convertible preferred stock. The reverse split was implemented on April 1, 2014. The par value of the common and convertible preferred stock was not adjusted as a result of the reverse stock split. Except as otherwise indicated, all issued and outstanding share and per share amounts included in the accompanying consolidated financial statements have been adjusted to reflect this reverse stock split for all periods presented.
	Conversion
	The shares of Series A, Series B, Series C, Series D and Series E preferred stock were convertible into an equal number of shares of common stock, at the option of the holder, subject to certain anti-dilution adjustments, such as in the event of a private placement at an offering price below the price of our Series E convertible preferred stock offering. The Series D convertible preferred stock was issued at a price per share lower than the issuance price per share of the Series A, Series B and Series C convertible preferred stock, triggering the anti-dilution adjustment of the conversion ratios into common stock of Series A, Series B and Series C convertible preferred stock. The issuance price triggering the anti-dilution adjustments was reset to the Series D issuance price at the time of the Series D financing and to the Series E issuance price at the time of the Series E financing.
	The conversion ratios were as follows:
	Series A and B convertible preferred stock	1 to 26.00
	Series C convertible preferred stock	1 to 25.64
	Series D convertible preferred stock	1 to 40.57
	Series E convertible preferred stock	1 to 40.57
	Each share of Series A, Series B, Series C, Series D and Series E convertible preferred stock were automatically converted into common stock immediately upon the completion of the Company’s initial public offering on April 22, 2014.
	Warrants
	All of the Company’s warrants remained outstanding as of June 30, 2014, except the BSC common stock warrants that expired upon the IPO as discussed in Note 9. The Company’s convertible preferred stock warrants all converted to warrants to purchase common stock at the above conversion ratios in April 2014.

Equity_Incentive_Plans

Equity Incentive Plans	6 Months Ended
	Jun. 30, 2014
Equity Incentive Plans	'
	11	Equity Incentive Plans
	In April 2014, the Company adopted the ESPP. A total of 500,000 shares of common stock were initially reserved for issuance under the ESPP, subject to certain annual adjustments.  The first purchase period began on the IPO date and ends on October 31, 2014 when the shares will be purchased at a specified discount.  The Company recorded amounts that had been withheld from employees for that purchase of $226,000 in accrued liabilities and other at June 30, 2014.
	In April 2014, the Company adopted the 2014 Equity Incentive Plan (the “2014 Plan”).  A total of 2,750,000 shares of common stock were initially reserved for issuance under the 2014 Plan, subject to certain annual adjustments. The 2014 Plan provides for the granting of stock options and other equity awards to employees, directors and consultants of the Company. Options granted under the 2014 Plan may be either incentive stock options (“ISOs”) or nonqualified stock options (“NSOs”). ISOs may be granted only to Company employees while NSOs may be granted to all eligible recipients.  At June 30, 2014, there were 721,050 shares of common stock subject to outstanding options under the 2014 Plan.
	In April 2008, the Company adopted the 2008 Equity Incentive Plan (the “2008 Plan”). The 2008 Plan provided for the granting of stock options to employees, directors and consultants of the Company. In connection with the IPO, the 2008 Plan terminated in April 2014, and no further grants may be made from the 2008 Plan, while previously granted options continue in accordance with their respective terms.  As of June 30, 2014, there were 1,471,373 shares of common stock subject to remaining outstanding options under the 2008 Plan.
	Options under the 2014 and 2008 Plans have terms of up to ten years. The exercise price of an ISO may not be less than 100% of the fair market value of the shares on the date of grant; the exercise price for an NSO may not be less than 100% of the fair market value of the shares on the date of grant and the exercise price of an ISO or an NSO granted to a more than 10% shareholder may not be less than 110% of the fair market value of the shares on the date of grant. Options become exercisable as determined by the board of directors. Options expire as determined by the board of directors but not more than ten years after the date of grant.

Income_Tax_Expense

Income Tax Expense	6 Months Ended
	Jun. 30, 2014
Income Tax Expense	'
	12	Income Tax Expense
	The Company applied an estimated annual effective tax rate (“ETR”) approach for calculating a tax provision for interim periods, as required under U.S. GAAP. The Company recorded a provision for income taxes of the following amounts (in thousands):
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Provision for income taxes	$	77		$	20		$	100		$	47
	Effective tax rate		(0.53	%)		(0.16	%)		(0.34	%)		(0.19	%)
	The Company’s ETR for the periods shown differs from the U.S. federal statutory tax rate of 35% primarily as a result of nondeductible expenses, state income taxes, foreign income taxes, and the impact of a full valuation allowance on its deferred tax assets.
	The Company has evaluated the available evidence supporting the realization of its deferred tax assets, including the amount and timing of future taxable income, and has determined that it is more likely than not that its net deferred tax assets will not be realized in the U.S. and certain foreign jurisdictions. Due to uncertainties surrounding the realization of the deferred tax assets, the Company maintains a full valuation allowance against substantially all deferred tax assets. If/when the Company determines that it will be able to realize some portion or all of its deferred tax assets, an adjustment to its valuation allowance on its deferred tax assets would have the effect of increasing net income, or decreasing net loss, in the period that such determination is made.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Related Party Transactions	'
	13	Related Party Transactions
	In February and March 2014, certain loans to executive officers were satisfied and extinguished. The April 2010 and September 2012 notes along with accrued interest were repaid in cash resulting in aggregate proceeds of $1,497,435 inclusive of accrued interest of $6,238. The January 2011 note was extinguished with the surrender of the underlying collateral shares to satisfy the loan. The difference between the carrying amount of the loan and the value of the collateral shares was recorded as a loss on extinguishment of the note and the underlying shares were kept in treasury until retired to authorized, unissued by resolution of the board of directors in April 2014.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2014

Basis of Presentation

'

Basis of Presentation

The accompanying Consolidated Financial Statements in this Quarterly Report on Form 10-Q have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These financial statements include the financial position, results of operations, and cash flows of the Company, including its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation.

The interim financial data as of June 30, 2014, is unaudited and is not necessarily indicative of the results for a full year or any interim period. In the opinion of the Company’s management, the interim data includes all normal and recurring adjustments necessary for a fair statement of the Company’s financial results for the three and six months ended June 30, 2014. The December 31, 2013 consolidated balance sheet data was derived from audited financial statements. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to SEC rules and regulations relating to interim financial statements.

The accompanying Consolidated Financial Statements should be read in conjunction with the Company’s audited Consolidated Financial Statements and Notes thereto included in the Company’s final prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, relating to the Company’s Registration Statement on Form S-1 (File No. 333-194466), filed with the SEC on April 17, 2014.

On April 22, 2014, the Company completed its initial public offering (“IPO”) of 7,475,000 shares of common stock, which included the exercise in full by the underwriters in the offering of their option to purchase 975,000 additional shares of common stock, at an offering price of $12.00 per share. The Company received net proceeds of approximately $81.1 million, after deducting underwriting discounts and commissions and offering expenses. In connection with the IPO, the Company’s outstanding shares of convertible preferred stock were automatically converted into 11,601,860 shares of common stock and warrants exercisable for convertible preferred stock were automatically converted into warrants exercisable for 192,472 shares of common stock, resulting in the reclassification of the related redeemable convertible preferred stock warrant liability of $0.6 million to additional paid-in capital.

Use of estimates

'

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates and such differences could be material.

Segment Information

'

Segment Information

The Company considers operating segments to be components of the Company in which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a consolidated basis, accompanied by information about revenue by geographic region, for purposes of allocating resources and evaluating financial performance. The Company has one business activity and there are no segment managers who are held accountable for operations, operating results or plans for levels or components below the consolidated unit level. Accordingly, the Company has determined that it has a single reportable and operating segment structure. The Company and its Chief Executive Officer evaluate performance based primarily on revenue in the geographic locations in which the Company operates.

Revenues by geography are based on the billing address of the customer. The following table sets forth revenue by geographic area (in thousands):

Three Months Ended

Six Months Ended

June 30,

June 30,

2014

2013

2014

2013

United States (U.S.)

$

5,176

$

2,574

$

9,778

$

3,515

International

2,622

2,252

5,054

4,253

Total

$

7,798

$

4,826

$

14,832

$

7,768

The following table summarizes countries with revenues accounting for more than 10% of the total:

Three Months Ended

Six Months Ended

June 30,

June 30,

2014

2013

2014

2013

Germany

< 10

%

11

%

< 10

%

14

%

Italy

< 10

%

14

%

< 10

%

16

%

U.S.

66

%

53

%

66

%

45

%

Long-lived assets and operating income outside the U.S. are not material; therefore disclosures have been limited to revenue.

Cash and Cash Equivalents

'

Cash and Cash Equivalents

Cash and cash equivalents consist of demand deposit accounts and institutional money market funds held in U.S. and foreign banks. Cash equivalents consist of highly liquid investment securities with original maturities at the date of purchase of three months or less.

Accounts Receivable

'

Accounts Receivable

Trade accounts receivable are recorded at the invoice amount and do not include interest. The Company regularly reviews accounts for collectability and establishes an allowance for probable credit losses and writes off uncollectible accounts as necessary. The Company has determined that no allowance was required at either of the periods presented.

Inventories

'

Inventories

The Company values inventory at the lower of cost to purchase or manufacture the inventory or the market value for such inventory. Cost is determined using the standard cost method which approximates the first-in first-out method. The Company regularly reviews inventory quantities in consideration of actual loss experiences, projected future demand, and remaining shelf life to record a provision for excess and obsolete inventory when appropriate.

Property and Equipment

'

Property and Equipment

Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets.

The depreciation and amortization periods for the Company’s property and equipment are as follows:

Equipment and software

3 years

Laboratory machinery and equipment

3–5 years

Furniture and fixtures

5 years

Leasehold improvements are amortized over the lesser of their useful lives or the remaining life of the lease. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation and amortization are removed from the consolidated balance sheet and the resulting gain or loss is reflected in operations in the period realized. Cost of maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized.

Goodwill and Indefinite Lived Intangible Assets

'

Goodwill and Indefinite Lived Intangible Assets

The Company has recorded goodwill and intangible assets on the consolidated balance sheets. The Company classifies intangible assets into three categories: (1) goodwill; (2) intangible assets with indefinite lives not subject to amortization; and (3) intangible assets with definite lives subject to amortization.

Goodwill and intangible assets with indefinite lives are not amortized. The Company assesses goodwill and intangible assets with indefinite lives for impairment on an annual basis in the fourth quarter of each year or more frequently if indicators of impairment exist. For the purpose of testing goodwill for impairment, the Company has determined that it has one reporting unit.

Deferred Offering Costs

'

Deferred Offering Costs

Deferred offering costs, consisting of legal, accounting and other fees and costs relating to the IPO, were capitalized until the successful completion of the Company’s IPO. The deferred offering costs were offset against the IPO proceeds upon the closing of the offering in April 2014. There were $0 and $0.7 million of deferred offering costs capitalized as of June 30, 2014 and December 31, 2013, respectively, in other assets on the consolidated balance sheets.

Convertible Preferred Stock Warrant Liability

'

Convertible Preferred Stock Warrant Liability

Freestanding warrants related to convertible preferred stock shares that are contingently redeemable were classified as a liability on the Company’s accompanying consolidated balance sheet at December 31, 2013. The convertible preferred stock warrants were subject to re-measurement at each balance sheet date, and any change in fair value was recognized as a component of interest income and other income (expense), net. The Company continued to adjust the liability for changes in fair value until the completion of the IPO in April 2014, at which time all redeemable convertible preferred stock warrants were converted into warrants to purchase common stock and the liability was reclassified to additional paid-in capital. See Note 5.

Revenue

'

Revenue

The Company recognizes revenue when all of the following criteria are met:

·

persuasive evidence of an arrangement exists;

·

the sales price is fixed or determinable;

·

collection of the relevant receivable is probable at the time of sale; and

·

delivery has occurred or services have been rendered.

For sales directly to hospitals or medical facilities, the Company recognizes revenue upon completion of a procedure, which is when the product is implanted in a patient, and a valid purchase order has been received. For distributor sales, the Company recognizes revenue at the time of shipment of product, as this represents the point that the customer has taken ownership and assumed risk of loss. The Company does not offer rights of return or price protection and has no post-delivery obligations. The Company offers rights of exchange in limited circumstances for products with a short shelf life at the time of shipment, and has established a $69,000 and $0 reserve for such exchanges included in accrued liabilities and other in the consolidated balance sheets at June 30, 2014 and December 31, 2013, respectively.

Income Taxes

'

Income Taxes

The Company records income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or income tax returns. In estimating future tax consequences, expected future events other than enactments or changes in the tax law or rates are considered. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount expected to be realized.

The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. The Company provides for tax contingencies whenever it is deemed probable that a tax asset has been impaired or a tax liability has been incurred for events such as tax claims or changes in tax laws. Tax contingencies are based upon their technical merits, relative tax law, and the specific facts and circumstances as of each reporting period. Changes in facts and circumstances could result in material changes to the amounts recorded for such tax contingencies.

The Company records uncertain tax positions on the basis of a two-step process whereby (1) a determination is made as to whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold the Company recognizes the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority.

Other Comprehensive (Loss) Income

'

Other Comprehensive (Loss) Income

Other comprehensive (loss) income represents all changes in stockholders’ equity (deficit) except those resulting from investments or contributions by stockholders. The Company’s other comprehensive (loss) income consists of its net loss and changes in accumulated other comprehensive income, which represents foreign currency translation adjustments.

Currency Translation

'

Currency Translation

The Euro is the functional currency of the Company’s wholly-owned subsidiaries in Italy and Germany and the Swiss Franc is the functional currency of the Company’s wholly-owned subsidiary in Switzerland. Accordingly, the assets and liabilities of these subsidiaries are translated into United States dollars using the current exchange rate in effect at the balance sheet date and equity accounts are translated into United States dollars using historical rates. Revenues and expenses are translated using the average exchanges rates in effect when the transactions occur. Foreign currency translation adjustments are recorded within accumulated other comprehensive loss, a separate component of stockholders’ equity (deficit), on the consolidated balance sheets. Foreign exchange transaction gains and losses have not been material to the Company’s consolidated financial statements for all periods presented.

Stock-Based Compensation

'

Stock-Based Compensation

The Company’s determination of the fair value of stock options on the date of grant and shares to be issued to employees under the Employee Stock Purchase Plan (“ESPP”) utilizes the Black-Scholes option-pricing model, and is impacted by its common stock price as well as changes in assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, expected common stock price volatility, expected term, risk-free interest rates and expected dividends.

The fair value is recognized over the period during which services are rendered, known as the requisite service period on a straight-line basis for awards that vest based on service conditions. Stock-based compensation expense recognized at fair value includes the impact of estimated forfeitures. The Company estimates future forfeitures at the date of grant and revises the estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

Equity instruments issued to non-employees are recorded at their fair value on the measurement date and are subject to periodic adjustments as the underlying equity instruments vest. The fair value of options granted to consultants is expensed when vested. The non-employee stock-based compensation expense was not material for all periods presented.

Cash flows resulting from the tax benefits for tax deductions resulting from the exercise of stock options in excess of the compensation expense recorded for those options (excess tax benefits) are classified as cash flows from financing activities in the consolidated statements of cash flows.

Estimating the fair value of equity-settled awards as of the grant date using valuation models, such as the Black-Scholes option pricing model, is affected by assumptions regarding a number of complex variables. Changes in the assumptions can materially affect the fair value and ultimately how much stock-based compensation expense is recognized. These inputs are subjective and generally require significant analysis and judgment to develop. For valuations of all equity awards utilizing the Black-Scholes option-pricing model to date, we estimated the expected term and the volatility data based on a study of publicly traded industry peer companies. For purposes of identifying these peer companies, we considered the industry, stage of development, size and financial leverage of potential comparable companies. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term of the equity-settled award.

Net Loss per Share

'

Net Loss per Share

Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares that were outstanding for the period, without consideration for potential common shares. Prior to April 22, 2014, the Company had convertible preferred stock, all of which converted into common stock at the closing of the IPO.  Because the holders of the Company’s convertible preferred stock and its restricted common shares were entitled to participate in dividends and earnings of the Company when dividends are paid on common stock, the Company applies the two-class method in calculating its earnings per share for periods when the Company generates net income. The two-class method requires net income to be allocated between the common and preferred stockholders based on their respective rights to receive dividends, whether or not declared. Because the convertible preferred stock and restricted common stock were not contractually obligated to share in the Company’s losses, no such allocation was made for any period presented given the Company’s net losses. Diluted net loss per share is calculated by dividing the net loss by the sum of the weighted-average number of dilutive potential common shares outstanding for the period determined using the treasury-stock method or the as-converted method. Potentially dilutive shares are comprised of convertible preferred stock, convertible preferred stock and common stock warrants, shares purchased with nonrecourse loans and options outstanding under our equity incentive plans. Purchase rights granted pursuant to the Company’s ESPP are excluded from the basic net loss per share calculation because the employee’s participation in the Plan is revocable, and such rights will not be included until the shares subject to the purchase rights are purchased by the employee.  For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to our net loss and potentially dilutive shares being anti-dilutive.

The following equity shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (shares for the convertible preferred stock and convertible preferred stock warrants were determined based on the applicable conversion ratios):

Three Months Ended June 30,

Six Months Ended June 30,

2014

2013

2014

2013

Convertible preferred stock

1,912,395

9,071,203

6,703,297

9,071,203

Employee stock options

2,192,423

1,525,531

1,849,739

1,497,082

Convertible preferred stock warrants

27,015

192,472

124,159

192,472

Common stock warrants

391,152

426,878

408,367

426,878

Total

4,522,985

11,216,084

9,085,562

11,187,635

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2014
Revenue from External Customers by Geographic Areas	'
	Revenues by geography are based on the billing address of the customer. The following table sets forth revenue by geographic area (in thousands):
		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2014				2013				2014				2013
	United States (U.S.)	$	5,176			$	2,574			$	9,778			$	3,515
	International		2,622				2,252				5,054				4,253
	Total	$	7,798			$	4,826			$	14,832			$	7,768
Summary of Countries Revenues Accounting for More than Ten Percent of Total	'
	The following table summarizes countries with revenues accounting for more than 10% of the total:
			Three Months Ended								Six Months Ended
			June 30,								June 30,
			2014				2013				2014				2013
	Germany		< 10		%			11	%		< 10		%			14	%
	Italy		< 10		%			14	%		< 10		%			16	%
	U.S.			66	%			53	%			66	%			45	%
Summary of Estimated Useful Life of Property and Equipment	'
	The depreciation and amortization periods for the Company’s property and equipment are as follows:
	Equipment and software	3 years
	Laboratory machinery and equipment	3–5 years
	Furniture and fixtures	5 years
Summary of Shares Excluded from Calculation of Diluted Net Loss per Share	'
	The following equity shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (shares for the convertible preferred stock and convertible preferred stock warrants were determined based on the applicable conversion ratios):
			Three Months Ended June 30,								Six Months Ended June 30,
			2014				2013				2014				2013
	Convertible preferred stock			1,912,395				9,071,203				6,703,297				9,071,203
	Employee stock options			2,192,423				1,525,531				1,849,739				1,497,082
	Convertible preferred stock warrants			27,015				192,472				124,159				192,472
	Common stock warrants			391,152				426,878				408,367				426,878
	Total			4,522,985				11,216,084				9,085,562				11,187,635

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Schedule of Stock-Based Compensation Expense Related to Options Granted and Estimated for Discount	'
	The following table sets forth stock-based compensation expense related to options granted to employees for all periods presented, as well as stock-based compensation expense estimated for the discount applicable to projected ESPP purchase rights in the three and six months ended June 30, 2014 (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Cost of goods sold	$	65	$	16	$	86	$	33
	Research and development		91		55		153		111
	Sales, general and administrative		517		205		896		387
	Total	$	673	$	276	$	1,135	$	531

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis	'
	The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis at December 31, 2013 by level within the fair value hierarchy (in thousands):
		Assets or Liabilities at Fair Value
		Level 1			Level 2			Level 3		Total
	Liabilities
	Series C convertible preferred stock warrant liability	$	—		$	—		$	72	$	72
	Series D convertible preferred stock warrant liability		—			—			1,208		1,208
	Total	$	—		$	—		$	1,280	$	1,280
Schedule of Activity of Level 3 Liabilities	'
	The table below presents the activity of Level 3 liabilities during the periods indicated (in thousands):
		June 30,			December 31,
		2014			2013
	Warrant liabilities balance at the beginning of the period	$	1,280		$	1,424
	Change in fair value of warrant liabilities		(633	)		(144	)
	Transfer of warrant liabilities to additional paid-in capital		(647	)		—
	Warrant liabilities balance at the end of the period	$	—		$	1,280

Balance_Sheet_Components_Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2014
Components of Inventories	'
	Inventories consisted of the following (in thousands):
		June 30,			December 31,
		2014			2013
	Raw material	$	3,498		$	2,394
	Work-in-process and sub-assemblies		3,898			1,951
	Finished goods		188			2,697
	Total	$	7,584		$	7,042
Components of Property and Equipment	'
	Property and equipment consist of the following (in thousands):
		June 30,			December 31,
		2014			2013
	Laboratory, machinery and equipment	$	7,129		$	7,024
	Equipment and software		2,152			2,150
	Leasehold improvements		5,657			5,657
	Furniture and fixtures		317			317
			15,255			15,148
	Less: Accumulated depreciation and amortization		(13,872	)		(13,643	)
	Total	$	1,383		$	1,505
	The Company recognized depreciation and amortization expense on property and equipment during the periods indicated as follows (in thousands):
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014		2013
	Depreciation and amortization expense	$	132		$	262		$	273	$	640
Components of Accrued Liabilities and Other	'
	Accrued liabilities and other consist of the following on the accompanying consolidated balance sheets (in thousands):
		June 30,			December 31,
		2014			2013
	Accrued compensation and related expenses	$	5,232		$	4,263
	Other accrued expenses		1,524			1,866
	Total	$	6,756		$	6,129

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Operating Lease Expense	'
	The Company’s headquarters’ facility lease expires on February 28, 2018. The Company also has small office leases in its subsidiary locations. Total lease expense for the periods indicated was as follows (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Lease expense	$	287	$	276	$	568	$	541

Stockholders_Equity_Deficit_Ta

Stockholders' Equity (Deficit) (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Conversion Ratios	'
	The conversion ratios were as follows:
	Series A and B convertible preferred stock	1 to 26.00
	Series C convertible preferred stock	1 to 25.64
	Series D convertible preferred stock	1 to 40.57
	Series E convertible preferred stock	1 to 40.57

Income_Tax_Expense_Tables

Income Tax Expense (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Provision for Income Taxes	'
	The Company recorded a provision for income taxes of the following amounts (in thousands):
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Provision for income taxes	$	77		$	20		$	100		$	47
	Effective tax rate		(0.53	%)		(0.16	%)		(0.34	%)		(0.19	%)

The_Company_Additional_Informa

The Company - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Organization Description [Line Items]	'
Date of entity incorporation	31-Jul-07
Date of entity operations	28-Mar-08

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	6 Months Ended				0 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Apr. 22, 2014	Dec. 31, 2013	Apr. 22, 2014
	Segment				Initial Public Offering [Member]
Schedule Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Common stock, shares issued in initial public offering	'	'	'	'	7,475,000
Common stock, shares exercised by underwriters	'	'	'	'	975,000
Common stock, shares offering price	'	'	'	'	$12
Proceeds from initial public offering	$1,508,000	$23,000	'	'	$81,100,000
Conversion of convertible preferred stock into common stock, shares	'	'	'	'	11,601,860
Conversion of convertible preferred stock into warrants exercisable common stock, shares	'	'	192,472	'	223,487
Reclassification of redeemable convertible preferred stock warrant liability	'	'	'	'	600,000
Number of operating segment	1	'	'	'	'
Allowance for accounts receivable	0	'	'	0	'
Number of reportable segment	1	'	'	'	'
Deferred offering costs	0	'	'	700,000	'
Reserve for exchange of product included in accrued liabilities and other	$69,000	'	'	$0	'

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Revenue from External Customers by Geographic Areas (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues From External Customers And Long Lived Assets [Line Items]	'	'	'	'
Revenues	$7,798	$4,826	$14,832	$7,768
United States [Member]	'	'	'	'
Revenues From External Customers And Long Lived Assets [Line Items]	'	'	'	'
Revenues	5,176	2,574	9,778	3,515
International [Member]	'	'	'	'
Revenues From External Customers And Long Lived Assets [Line Items]	'	'	'	'
Revenues	$2,622	$2,252	$5,054	$4,253

Summary_of_Significant_Account5

Summary of Significant Accounting Policies - Summary of Countries Revenues Accounting for More than Ten Percent of Total (Detail) (Revenue [Member], Geographic Concentration Risk [Member])	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Germany [Member]	'	'	'	'
Concentration Risk [Line Items]	'	'	'	'
Percentage of sales revenue	'	11.00%	'	14.00%
Germany [Member] | Maximum [Member]	'	'	'	'
Concentration Risk [Line Items]	'	'	'	'
Percentage of sales revenue	10.00%	'	10.00%	'
Italy [Member]	'	'	'	'
Concentration Risk [Line Items]	'	'	'	'
Percentage of sales revenue	'	14.00%	'	16.00%
Italy [Member] | Maximum [Member]	'	'	'	'
Concentration Risk [Line Items]	'	'	'	'
Percentage of sales revenue	10.00%	'	10.00%	'
United States [Member]	'	'	'	'
Concentration Risk [Line Items]	'	'	'	'
Percentage of sales revenue	66.00%	53.00%	66.00%	45.00%

Summary_of_Significant_Account6

Summary of Significant Accounting Policies - Summary of Estimated Useful Life of Property and Equipment (Detail)	6 Months Ended
	Jun. 30, 2014
Equipment and software [Member]	'
Property Plant And Equipment [Line Items]	'
Estimated useful life of property and equipment	'3 years
Laboratory machinery and equipment [Member] | Minimum [Member]	'
Property Plant And Equipment [Line Items]	'
Estimated useful life of property and equipment	'3 years
Laboratory machinery and equipment [Member] | Maximum [Member]	'
Property Plant And Equipment [Line Items]	'
Estimated useful life of property and equipment	'5 years
Furniture and fixtures [Member]	'
Property Plant And Equipment [Line Items]	'
Estimated useful life of property and equipment	'5 years

Summary_of_Significant_Account7

Summary of Significant Accounting Policies - Summary of Shares Excluded from Calculation of Diluted Net Loss per Share (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'
Shares excluded from calculation of diluted net loss per share	4,522,985	11,216,084	9,085,562	11,187,635
Employee stock options [Member]	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'
Shares excluded from calculation of diluted net loss per share	2,192,423	1,525,531	1,849,739	1,497,082
Convertible preferred stock warrants [Member]	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'
Shares excluded from calculation of diluted net loss per share	27,015	192,472	124,159	192,472
Common stock warrants [Member]	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'
Shares excluded from calculation of diluted net loss per share	391,152	426,878	408,367	426,878
Convertible preferred stock [Member]	'	'	'	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]	'	'	'	'
Shares excluded from calculation of diluted net loss per share	1,912,395	9,071,203	6,703,297	9,071,203

StockBased_Compensation_Schedu

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense Related to Options Granted and Estimated for Discount (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	$673	$276	$1,135	$531
Cost of goods sold [Member]	'	'	'	'
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	65	16	86	33
Research and development [Member]	'	'	'	'
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	91	55	153	111
Sales, general and administrative [Member]	'	'	'	'
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	$517	$205	$896	$387

Fair_Value_Measurements_Schedu

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) (Fair value measurements, recurring basis [Member], USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'
Liabilities at Fair Value	$1,280
Assets or Liabilities at Fair Value, Level 3 [Member]	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'
Liabilities at Fair Value	1,280
Series C convertible preferred stock warrant [Member]	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'
Liabilities at Fair Value	72
Series C convertible preferred stock warrant [Member] | Assets or Liabilities at Fair Value, Level 3 [Member]	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'
Liabilities at Fair Value	72
Series D convertible preferred stock warrant [Member]	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'
Liabilities at Fair Value	1,208
Series D convertible preferred stock warrant [Member] | Assets or Liabilities at Fair Value, Level 3 [Member]	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'
Liabilities at Fair Value	$1,208

Fair_Value_Measurements_Schedu1

Fair Value Measurements - Schedule of Activity of Level 3 Liabilities (Detail) (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]	'	'	'
Warrant liabilities balance at the beginning of the period	$1,280	$1,424	$1,424
Change in fair value of warrant liabilities	-633	10	-144
Transfer of warrant liabilities to additional paid-in capital	-647	'	'
Warrant liabilities balance at the end of the period	'	'	$1,280

Balance_Sheet_Components_Compo

Balance Sheet Components - Components of Inventories (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Raw material	$3,498	$2,394
Work-in-process and sub-assemblies	3,898	1,951
Finished goods	188	2,697
Total	$7,584	$7,042	[1]
[1]	The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United Stated of America.

Balance_Sheet_Components_Compo1

Balance Sheet Components - Components of Property and Equipment (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Property Plant And Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	$15,255	'	$15,255	'	$15,148
Less: Accumulated depreciation and amortization	-13,872	'	-13,872	'	-13,643
Property and equipment, net	1,383	'	1,383	'	1,505	[1]
Depreciation and amortization expense	132	262	273	640	'
Laboratory machinery and equipment [Member]	'	'	'	'	'
Property Plant And Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	7,129	'	7,129	'	7,024
Equipment and software [Member]	'	'	'	'	'
Property Plant And Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	2,152	'	2,152	'	2,150
Leasehold improvements [Member]	'	'	'	'	'
Property Plant And Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	5,657	'	5,657	'	5,657
Furniture and fixtures [Member]	'	'	'	'	'
Property Plant And Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	$317	'	$317	'	$317
[1]	The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United Stated of America.

Balance_Sheet_Components_Addit

Balance Sheet Components - Additional Information (Detail) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Balance Sheet Components [Line Items]	'	'	'
Goodwill	$8,259,000	'	$8,259,000	[1]
Gross carrying amount of intangible assets	1,182,000	'	1,182,000	[1]
Amortization expense	$0	$35,000	'
[1]	The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United Stated of America.

Balance_Sheet_Components_Compo2

Balance Sheet Components - Components of Accrued Liabilities and Other (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Balance Sheet Components [Line Items]	'	'
Accrued compensation and related expenses	$5,232	$4,263
Other accrued expenses	1,524	1,866
Total	$6,756	$6,129	[1]
[1]	The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United Stated of America.

Distribution_Agreement_Additio

Distribution Agreement - Additional Information (Detail) (USD $)	6 Months Ended	0 Months Ended		6 Months Ended
	Jun. 30, 2014	Mar. 18, 2014	Jan. 10, 2014	Jun. 30, 2014	Jun. 30, 2014	Mar. 31, 2014
		Century Medical, Inc. [Member]	Century Medical, Inc. [Member]	Century Medical, Inc. [Member]	Century Medical, Inc. [Member]	Century Medical, Inc. [Member]
					Notes Payable [Member]	Notes Payable [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'
Aggregate principal loan	'	'	'	'	$6,000,000	$6,000,000
Distribution agreement date	'	'	'	1-Jan-14	'	'
Amount received under notes payable	6,000,000	2,000,000	4,000,000	'	'	'
Amount of trailing 12-month revenues	'	'	'	20,000,000	'	'
Notes annual interest rate	'	'	'	'	5.00%	'
Maturity date of debt	'	'	'	'	9-Jan-19	'
Notes annual interest payable frequency	'	'	'	'	'Quarterly	'
Aggregate fair value of notes	'	'	'	3,000,000	'	'
Fair value cash flows discount rate	'	'	'	'	15.00%	'
Discount of debt issuance	'	'	'	'	$3,000,000	'

Commitments_and_Contingencies_1

Commitments and Contingencies - Additional Information (Detail) (USD $)	6 Months Ended
	Jun. 30, 2014
Loss Contingencies [Line Items]	'
Lease expiration date	28-Feb-18
Accrued contingent liabilities	$0
Indemnification liability	$0

Commitments_and_Contingencies_2

Commitments and Contingencies - Summary of Operating Lease Expense (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Other Commitments [Line Items]	'	'	'	'
Lease expense	$287	$276	$568	$541

Notes_Payable_Additional_Infor

Notes Payable - Additional Information (Detail) (USD $)

6 Months Ended

0 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2014

Apr. 22, 2014

Mar. 31, 2008

Apr. 22, 2014

Oct. 12, 2012

Jun. 30, 2014

Oct. 12, 2012

Oct. 12, 2012

Mar. 18, 2014

Jan. 10, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Boston Scientific Santa Rosa Corporation [Member]

Initial Public Offering [Member]

Capital Royalty Term Loan [Member]

Capital Royalty Term Loan [Member]

Capital Royalty Term Loan [Member]

Capital Royalty Term Loan [Member]

Century Medical, Inc. [Member]

Century Medical, Inc. [Member]

Century Medical, Inc. [Member]

Century Medical, Inc. [Member]

Century Medical, Inc. [Member]

Promissory Note [Member]

Tranches

Tranche One [Member]

Tranche Two [Member]

Notes Payable [Member]

Notes Payable [Member]

Notes Payable [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate principal loan

'

'

$3,500,000

'

'

'

'

'

'

'

$6,000,000

$6,000,000

$6,000,000

Amount received under notes payable

6,000,000

'

'

'

'

'

'

'

2,000,000

4,000,000

'

'

'

Debt instrument interest percentage

'

'

5.25%

'

'

14.00%

'

'

'

'

5.00%

5.00%

'

Debt instrument maturity date

'

'

28-Mar-18

'

'

'

'

'

'

'

'

9-Jan-19

'

Debt issuance discount

'

'

'

'

'

'

'

'

'

'

3,000,000

3,000,000

'

Interest payments on debt

'

'

'

'

'

'

'

'

'

'

75,000

123,000

'

Maximum borrowing capacity

'

'

'

'

50,000,000

'

'

'

'

'

'

'

'

Number of tranches for borrowing

'

'

'

'

2

'

'

'

'

'

'

'

'

Loan financing amount borrowed

'

'

'

'

'

'

40,000,000

10,000,000

'

'

'

'

'

Term loan agreement date

'

'

'

'

'

12-Oct-12

'

'

'

'

'

'

'

Credit facility expiration date

'

'

'

'

'

30-Sep-17

'

'

'

'

'

'

'

Interest rate description

'

'

'

'

'

'11.5% per annum paid in cash and 2.5% per annum paid in-kind in the form of additional term loans, or PIK Loans.

'

'

'

'

'

'

'

Loan payment frequency

'

'

'

'

'

'Quarterly basis

'

'

'

'

'

'

'

Loan origination fee

'

'

'

'

'

1.00%

'

'

'

'

'

'

'

Warrants issued to purchase common stock

'

192,472

'

223,487

'

167,611

'

'

'

'

'

'

'

Price of common stock per share

'

'

'

'

'

0.41

'

'

'

'

'

'

'

Fair value of warrants issued

'

'

'

'

'

$496,000

'

'

'

'

'

'

'

Prepayment premium on aggregate outstanding principal, percentage

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

Decrease in prepayment premium percentage

'

'

'

'

'

1.00%

'

'

'

'

'

'

'

Ownership interest in foreign subsidiary

'

'

'

'

'

35.00%

'

'

'

'

'

'

'

Covenant description

'

'

'

'

'

'The first measurement date for the minimum annual revenue covenant was April 30, 2014, with subsequent measurement dates at the end of subsequent twelve-month periods.

'

'

'

'

'

'

'

Covenant compliance

'

'

'

'

'

'The Company was in compliance with all of the covenants.

'

'

'

'

'

'

'

Stockholders_Equity_Deficit_Ad

Stockholders' Equity (Deficit) - Additional Information (Detail)	1 Months Ended
	Mar. 31, 2014
Class Of Stock [Line Items]	'
Reverse stock split ratio	40.57

Stockholders_Equity_Deficit_Su

Stockholders' Equity (Deficit) - Summary of Conversion Ratios (Detail)	Jun. 30, 2014
Series A and B convertible preferred stock [Member]	'
Conversion Of Stock [Line Items]	'
Convertible preferred stock, shares of common stock issued upon conversion	26
Series C convertible preferred stock [Member]	'
Conversion Of Stock [Line Items]	'
Convertible preferred stock, shares of common stock issued upon conversion	25.64
Series D convertible preferred stock [Member]	'
Conversion Of Stock [Line Items]	'
Convertible preferred stock, shares of common stock issued upon conversion	40.57
Series E convertible preferred stock [Member]	'
Conversion Of Stock [Line Items]	'
Convertible preferred stock, shares of common stock issued upon conversion	40.57

Equity_Incentive_Plans_Additio

Equity Incentive Plans - Additional Information (Detail) (USD $)	6 Months Ended
	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Common stock shares reserved for issuance	500,000
Contribution from employees to purchase incentive plan	$226,000
Shareholders with more than 10% holding [Member]	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Exercise price of stock option	110.00%
ISO [Member]	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Exercise price of stock option	100.00%
NSO [Member]	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Exercise price of stock option	100.00%
Maximum [Member]	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Options granted expiration period	'10 years
2014 Equity Incentive Plan [Member]	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Common stock shares reserved for issuance	2,750,000
Common stock shares subject to outstanding options	721,050
2008 Equity Incentive Plan [Member]	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Common stock shares subject to outstanding options	1,471,373

Income_Tax_Expense_Summary_of_

Income Tax Expense - Summary of Provision for Income Taxes (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Line Items]	'	'	'	'
Provision for income tax	$77	$20	$100	$47
Effective tax rate	-0.53%	-0.16%	-0.34%	-0.19%

Income_Tax_Expense_Additional_

Income Tax Expense - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Line Items]	'
Effective tax rate, nondeductible	35.00%

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (USD $)	6 Months Ended
	Jun. 30, 2014
Related Party Transaction [Line Items]	'
Aggregate proceeds from related party	$1,497,435
Accrued interest	$6,238