Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 08, 2014 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'Harvard Apparatus Regenerative Technology, Inc. | ' |
Entity Central Index Key | '0001563665 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'HART | ' |
Entity Common Stock, Shares Outstanding | ' | 7,846,959 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash | $10,065 | $14,008 |
Related party receivables | 82 | 22 |
Inventories, net | 146 | 38 |
Prepaid expenses | 356 | 421 |
Total current assets | 10,649 | 14,489 |
Property, plant and equipment, net of accumulated depreciation of $400 and $248 at June 30, 2014 and December 31, 2013, respectively | 1,038 | 575 |
Total non-current assets | 1,038 | 575 |
Total assets | 11,687 | 15,064 |
Current liabilities: | ' | ' |
Accounts payable | 434 | 244 |
Related party payable | 41 | 90 |
Accrued and other current liabilities | 350 | 161 |
Total current liabilities | 825 | 495 |
Total non-current liabilities | 0 | 0 |
Total liabilities | 825 | 495 |
Commitments and contingencies (note 8) | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, par value $0.01 per share, 2,000,000 shares authorized; 0 shares issued and outstanding at June 30, 2014 and December 31, 2013 | 0 | 0 |
Common stock, par value $0.01 per share, 30,000,000 shares authorized; 7,843,362 and 7,742,080 shares issued and outstanding at June 30, 2014 and December 31 2013, respectively | 78 | 77 |
Additional paid-in capital | 18,294 | 16,466 |
Accumulated deficit | -7,513 | -1,974 |
Accumulated other comprehensive income | 3 | 0 |
Total stockholders' equity | 10,862 | 14,569 |
Total liabilities and stockholders' equity | $11,687 | $15,064 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 7,843,362 | 7,742,080 |
Common stock, shares outstanding | 7,843,362 | 7,742,080 |
Property, plant and equipment, net of accumulated depreciation | $400 | $248 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenues | $23 | $0 | $46 | $0 |
Cost of revenues | 12 | 0 | 24 | 0 |
Gross profit | 11 | 0 | 22 | 0 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 1,214 | 1,265 | 2,431 | 2,425 |
Sales and marketing | 88 | 34 | 164 | 54 |
General and administrative | 1,242 | 790 | 2,966 | 1,630 |
Total operating expenses | 2,544 | 2,089 | 5,561 | 4,109 |
Operating loss | -2,533 | -2,089 | -5,539 | -4,109 |
Loss before income taxes | -2,533 | -2,089 | -5,539 | -4,109 |
Income taxes | 0 | 0 | 0 | 0 |
Net loss | -2,533 | -2,089 | -5,539 | -4,109 |
Basic and diluted net loss per share (in dollars per share) | ($0.32) | ($0.27) | ($0.71) | ($0.53) |
Weighted average common shares, basic and diluted (in shares) | 7,816 | 7,740 | 7,788 | 7,740 |
Comprehensive loss: | ' | ' | ' | ' |
Net loss | -2,533 | -2,089 | -5,539 | -4,109 |
Foreign currency translation adjustments | 6 | 0 | 3 | 0 |
Total comprehensive loss | ($2,527) | ($2,089) | ($5,536) | ($4,109) |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows used in operating activities: | ' | ' |
Net loss: | ($5,539) | ($4,109) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Stock-based compensation expense | 1,471 | 294 |
Depreciation | 151 | 83 |
Changes in operating assets and liabilities: | ' | ' |
(Increase) in related party receivables | -60 | 0 |
(Increase) in inventories | -108 | 0 |
Decrease in prepaid expenses | 65 | 0 |
Increase (decrease) in accounts payable | 71 | -35 |
(Decrease) in related party payable | -49 | 0 |
Increase (decrease) in accrued and other current liabilities | 189 | -66 |
Net cash used in operating activities | -3,809 | -3,833 |
Cash flows used in investing activities: | ' | ' |
Additions to property, plant and equipment | -495 | -51 |
Net cash used in investing activities | -495 | -51 |
Cash flows from financing activities: | ' | ' |
Proceeds from funding provided by Harvard Bioscience, Inc. | 0 | 3,884 |
Proceeds from issuance of common stock | 358 | 0 |
Net cash provided by financing activities | 358 | 3,884 |
Effect of exchange rate changes on cash | 3 | 0 |
Net decrease in cash | -3,943 | 0 |
Cash at the beginning of the period | 14,008 | 0 |
Cash at the end of the period | $10,065 | $0 |
Overview_and_Basis_of_Presenta
Overview and Basis of Presentation | 6 Months Ended | ||
Jun. 30, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Business Description and Basis of Presentation [Text Block] | ' | ||
1 | Overview and Basis of Presentation | ||
Overview | |||
Prior to November 1, 2013, Harvard Apparatus Regenerative Technology, Inc. (“HART” or the “Company”) was a business segment of Harvard Bioscience, Inc. (“Harvard Bioscience”). The Company is engaged in the development and commercialization of regenerated organs for human transplant. | |||
Since inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, and acquiring operating assets. | |||
HART was incorporated in Delaware on May 3, 2012 by Harvard Bioscience, as a wholly-owned subsidiary, to provide a means for separating Harvard Bioscience’s regenerative medicine business from its other businesses. Harvard Bioscience has been designing and manufacturing devices for life science researchers for over 100 years. Harvard Bioscience first focused on providing devices to scientists involved in regenerative medicine research in 2008. Since early 2009, Harvard Bioscience’s regenerative medicine business initiative was operated as a segment of Harvard Bioscience. | |||
On October 31, 2013, Harvard Bioscience contributed its regenerative medicine business assets, plus $15 million of cash, into HART (the “Separation”). On November 1, 2013, the previously announced spin-off of the Company from Harvard Bioscience was completed. On that date, the Company became an independent company that operates the regenerative medicine business previously owned by Harvard Bioscience. The spin-off was completed through the distribution to Harvard Bioscience stockholders of all the shares of common stock of HART (the “Distribution”). | |||
Basis of Presentation | |||
The Company historically operated as part of Harvard Bioscience, and not as a stand-alone company. For periods prior to the Separation on October 31, 2013, the consolidated financial statements presented herein, which include periods prior to the Separation, and are discussed below, have been prepared on a stand-alone basis and are derived from the financial statements and accounting records of Harvard Bioscience using the historical basis of assets and liabilities of HART. The Company’s financial statements from that period include expenses of Harvard Bioscience allocated to HART for certain functions provided by Harvard Bioscience, including, but not limited to, general corporate expenses related to executive services, finance, treasury, corporate income tax, human resources, legal services and investor relations. These expenses were allocated to HART on the basis of headcount, time devoted to HART activities, percentage of operating expenses or other relevant measures. The Company believes the assumptions and allocations underlying the financial statements are reasonable and appropriate under the circumstances. Both HART and Harvard Bioscience consider the basis on which the expenses have been allocated to be a reasonable reflection of the utilization of services provided to or the benefits received by the Company during the periods presented. However, the amounts recorded for these transactions and allocations are not necessarily representative of the amounts that would have been reflected in the financial statements had HART operated independently of Harvard Bioscience. Accordingly, the financial statements for these periods are not necessarily indicative of HART’s future results of operations, financial position and cash flows. | |||
Prior to the Separation on October 31, 2013, Harvard Bioscience used a centralized approach to manage substantially all of its liquid resources and to finance its operations and, as a result, no separate cash accounts for HART were historically maintained, and debt and liquid resources maintained at the Harvard Bioscience group level are not included in the accompanying consolidated financial statements prior to the Separation. Harvard Bioscience funded all of HART’s operating and capital resource requirements prior to the Distribution. After October 31, 2013, the accompanying consolidated financial statements reflect the consolidated financial position and results of operations of the Company as an independent publicly traded company. | |||
Basic and diluted shares outstanding are the same for each period presented as all common stock equivalents would be antidilutive due to the net losses incurred. | |||
The financial statements reflect the Company’s financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States (“GAAP”). | |||
Unaudited Interim Financial Information | |||
The accompanying interim balance sheet as of June 30, 2014 and consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2014 and 2013 are unaudited. The accompanying interim consolidated statements of cash flows for the six months ended June 30, 2014 and 2013 are unaudited. The interim unaudited consolidated financial statements have been prepared in accordance with GAAP on the same basis as the annual audited financial statements and, in the opinion of management, reflect all adjustments necessary for a fair statement of the Company’s financial position as of June 30, 2014, its results of operations for the three and six months ended June 30, 2014 and 2013, and the Company’s consolidated statements of cash flows for the six months ended June 30, 2014 and 2013. The financial data and other information disclosed in these notes related to the three and six month periods ended June 30, 2014 and 2013 are unaudited. The results for the three and six months ended June 30, 2014 and 2013 are not necessarily indicative of results to be expected for the year ending December 31, 2014, any other interim periods or any future year or period. | |||
Summary_of_Significant_Account
Summary of Significant Accounting Policies and Recently Issued Accounting Pronouncements | 6 Months Ended | ||
Jun. 30, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Significant Accounting Policies [Text Block] | ' | ||
2 | Summary of Significant Accounting Policies and Recently Issued Accounting Pronouncements | ||
In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-10, Development Stage Entities (Topic 915): “Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”, which removes the definition of a development stage entity from the Accounting Standards Codification, eliminated the requirement that development stage entities present inception-to-date information in the company’s financial statements, label those financial statements as those of a development stage entity, disclose a description of the development stage activities in which they engage and disclose in the first year the entity is no longer a development stage entity that in prior years it had been. The ASU is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 14, 2014. The Company has elected the permissible early application of the changes in the accompanying interim unaudited consolidated financial statements, and for all future periods. | |||
The accounting policies, other than the change noted above, underlying the accompanying unaudited consolidated financial statements are those set forth in Note 2 to the financial statements for the year ended December 31, 2013 included in the Company’s Annual Report on Form 10-K. | |||
There are no other recently issued accounting standards which are not yet effective which the Company believes would materially impact the financial statements. | |||
Liquidity
Liquidity | 6 Months Ended | ||
Jun. 30, 2014 | |||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||
Liquidity And Going Concern Disclosure [Text Block] | ' | ||
3 | Liquidity | ||
The Company has incurred net losses since inception through June 30, 2014. Since inception, through the Separation, the Company received funding for operating losses from Harvard Bioscience and a $15.0 million cash contribution at the Separation. During the six month period ended June 30, 2014 the Company received an additional $0.36 million from the exercise of stock options. The Company is currently investing significant resources in development and commercialization of products for use in the field of regenerative medicine. The Company expects to continue to incur operating losses and negative cash flows from operations. | |||
Inventories
Inventories | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventory Disclosure [Text Block] | ' | |||||||
4 | Inventories | |||||||
Inventories consisted of the following: | ||||||||
June | December | |||||||
30, 2014 | 31, 2013 | |||||||
(in thousands) | ||||||||
Finished goods | $ | 16 | $ | 7 | ||||
Raw materials | 130 | 31 | ||||||
Total | $ | 146 | $ | 38 | ||||
Related_Party_Transactions
Related Party Transactions | 6 Months Ended | ||
Jun. 30, 2014 | |||
Related Party Transactions [Abstract] | ' | ||
Related Party Transactions Disclosure [Text Block] | ' | ||
5 | Related Party Transactions | ||
Harvard Bioscience is considered to be a related party to the Company because David Green, the Company’s Chairman and CEO, is also a director of Harvard Bioscience. | |||
Cost Allocations | |||
For periods presented prior to the Separation, HART’s operations were fully integrated with Harvard Bioscience, including executive services, finance, treasury, corporate income tax, human resources, legal services and investor relations. The accompanying financial statements for periods prior to the Separation reflect the application of certain estimates and allocations of operating expenses and the Company believes the methods used to allocate these operating expenses were reasonable. The allocation methods included time devoted to HART activities, headcount, percentage of operating expenses or other relevant measures. Allocations of expenses for these services were $0.7 million for the three month period ended June 30, 2013 and $1.2 million for the six month period ended June 30, 2013. These allocated expenses are reflected in the total operating expenses in the consolidated statements of operations, in addition to direct expenses. | |||
Agreements with Harvard Bioscience | |||
In connection with the Separation of the Company from Harvard Bioscience, on October 31, 2013 the Company entered into a series of agreements with Harvard Bioscience, including a separation and distribution agreement, a transition services agreement, a tax sharing agreement, a sublicense agreement, a product distribution agreement, an intellectual property matters agreement and a sublease agreement. Some of these agreements require us to pay fees to Harvard Bioscience for services provided subsequent to the Separation, and will remain in place through at least October 31, 2014. Expenses recorded under these agreements were $0.1 million and $0.2 million for the three and six months ended June 30, 2014, respectively. | |||
Concentrations
Concentrations | 6 Months Ended | ||
Jun. 30, 2014 | |||
Risks and Uncertainties [Abstract] | ' | ||
Concentration Risk Disclosure [Text Block] | ' | ||
6 | Concentrations | ||
At the time of the Separation, the Company entered into a 10-year product distribution agreement with Harvard Bioscience under which each company will become the exclusive distributor for the other party for products such other party develops for sale in the markets served by the other. In addition, Harvard Bioscience has agreed that except for certain existing activities of its German subsidiary, to the extent that any Harvard Bioscience businesses desire to resell or distribute any bioreactor that is then manufactured by HART, HART will be the exclusive manufacturer of such bioreactors and Harvard Bioscience will purchase such bioreactors from the Company. Sales to Harvard Bioscience accounted for 100% of the revenues and receivables as of and for the six months end June 30, 2014. | |||
StockBased_Compensation
Stock-Based Compensation | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||
7 | Stock-Based Compensation | |||||||||||||
Harvard Bioscience maintains the Third Amended and Restated 2000 Stock Option and Incentive Plan, (as amended, the “Harvard Bioscience Plan”) for the benefit of certain of its officers, directors and employees. The disclosure of stock based compensation for the periods prior to the Separation represent the Company’s portion of such plan maintained by Harvard Bioscience in which the Company’s employees and directors participated. The securities underlying all options and awards granted under the Harvard Bioscience Plan consist of shares of Harvard Bioscience common stock. | ||||||||||||||
HART maintains the 2013 Equity Incentive Plan (the “2013 Plan”) for the benefit of certain of its officers, directors and employees. The securities underlying all options and awards granted under the 2013 Plan consist of shares of HART common stock. Additionally, equity awards related to shares of the Company’s common stock were issued from the 2013 Plan at the time of the Distribution to the holders of Harvard Bioscience equity awards as part of an adjustment (the “Adjustment”) to those equity awards to prevent a loss of value to the holders due to the Distribution. | ||||||||||||||
Prior to the Separation, HART stock-based compensation expense represented an allocation from Harvard Bioscience’s stock-based compensation expense for employees whose time had been allocated to HART. After the Separation, HART continues to record the expense on stock-based awards of Harvard Bioscience stock options and restricted stock units, issued by Harvard Bioscience, to former Harvard Bioscience employees now employed by HART. | ||||||||||||||
As noted above relating to the Adjustment, Harvard Bioscience award holders were also issued stock-based compensation awards in HART stock options and restricted stock units. HART recognizes compensation expense on those awards to former Harvard Bioscience employees who now are employed by HART, and does not recognize expense on the Adjustment awards given to individuals not now employed by HART. Additionally, HART records expense on grants made under the 2013 Plan to HART officers, directors and employees granted subsequent to the Adjustment. | ||||||||||||||
Harvard Bioscience Plan Award Information | ||||||||||||||
During the six months ended June 30, 2013, all awards were granted to employees and directors at exercise prices equal to or greater than fair market value of the Harvard Bioscience’s common stock on the date of grant. | ||||||||||||||
The following is a summary of stock option and restricted stock unit activity for the six months ended June 30, 2014: | ||||||||||||||
Stock Options | Restricted Stock Units | |||||||||||||
Stock Options | Weighted | Restricted Stock | Grant Date | |||||||||||
Outstanding | Average Exercise | Units Outstanding | Fair Value | |||||||||||
Price | ||||||||||||||
Balance at December 31, 2013 | 2,500,339 | $ | 3.2 | 326,185 | $ | 5.46 | ||||||||
Granted | - | - | - | - | ||||||||||
Exercised | -23,057 | 3.36 | - | - | ||||||||||
Vested (RSUs) | - | - | -154,628 | 4.7 | ||||||||||
Cancelled/forfeited | -311,635 | 5.58 | - | - | ||||||||||
Balance at June 30, 2014 | 2,165,647 | $ | 2.85 | 171,557 | $ | 6.14 | ||||||||
Stock-based compensation expense for the three and six months ended June 30, 2014 and 2013, respectively, was allocated as follows: | ||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
(in thousands) | (in thousands) | |||||||||||||
Research and development | $ | 11 | $ | 21 | $ | 31 | $ | 37 | ||||||
Sales and marketing | 4 | - | 7 | - | ||||||||||
General and administrative | 165 | 137 | 324 | 257 | ||||||||||
Total stock-based compensation | $ | 180 | $ | 158 | $ | 362 | $ | 294 | ||||||
The Company did not capitalize any stock-based compensation related to the Harvard Bioscience Plan. | ||||||||||||||
Harvard Apparatus Regenerative Technology, Inc. 2013 Equity Incentive Plan | ||||||||||||||
The 2013 Plan was adopted by the Board of Directors on October 11, 2013. The aggregate number of shares authorized for issuance under the Plan is 3,000,000 shares of common stock. | ||||||||||||||
The Company currently has 3,000,000 shares of its common stock reserved for the issuance, exercise or vesting of awards under the 2013 Plan. During the six months ended June 30, 2014, 150,000 options were granted under the 2013 Plan to HART employees at exercise prices equal to or greater than fair market value of the Company’s common stock on the date of grant. | ||||||||||||||
The following is a summary of stock option and restricted stock unit activity for the six months ended June 30, 2014: | ||||||||||||||
Stock Options | Restricted Stock Units | |||||||||||||
Stock Options | Weighted | Restricted Stock | Grant Date | |||||||||||
Outstanding | Average Exercise | Units Outstanding | Fair Value | |||||||||||
Price | ||||||||||||||
Balance at December 31, 2013 | 2,075,707 | $ | 4.34 | 19,492 | $ | 6 | ||||||||
Granted | 150,000 | 8.4 | - | - | ||||||||||
Exercised | -102,705 | 4.94 | - | - | ||||||||||
Vested (RSUs) | - | - | -9,796 | 6 | ||||||||||
Cancelled/forfeited | -147,301 | 4.46 | -1,716 | 6 | ||||||||||
Balance at June 30, 2014 | 1,975,701 | $ | 4.61 | 7,980 | $ | 6 | ||||||||
The following assumptions were used to estimate the fair value of stock options granted during the three and six months ended June 30, 2014: | ||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||
June 30, 2014 | June 30, 2014 | |||||||||||||
Volatility | 74 | % | 74 | % | ||||||||||
Risk-free interest rate | 1.68 | % | 1.66 | % | ||||||||||
Expected holding period | 6.22 years | 6.22 years | ||||||||||||
Dividend Yield | - | % | - | % | ||||||||||
The weighted average fair values of the options granted under the 2013 Plan during the six months ended June 30, 2014 was $5.55, using the Black-Scholes option-pricing model. | ||||||||||||||
Stock-based compensation expense for the three and six months ended June 30, 2014 and 2013, respectively, was allocated as follows: | ||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
(in thousands) | (in thousands) | |||||||||||||
Research and development | $ | 26 | $ | - | $ | 313 | $ | - | ||||||
Sales and marketing | - | - | 65 | - | ||||||||||
General and administrative | 89 | - | 731 | - | ||||||||||
Total stock-based compensation | $ | 115 | $ | - | $ | 1,109 | $ | - | ||||||
The Company did not capitalize any stock-based compensation related to the 2013 Plan. | ||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended | ||
Jun. 30, 2014 | |||
Commitments and Contingencies Disclosure [Abstract] | ' | ||
Commitments and Contingencies Disclosure [Text Block] | ' | ||
8 | Commitments and Contingencies | ||
From time to time, we may be involved in various claims and legal proceedings arising in the ordinary course of business. There are no such matters pending that we expect to be material in relation to our business, financial condition, results of operations or cash flows. | |||
Inventories_Tables
Inventories (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of Inventory, Current [Table Text Block] | ' | |||||||
Inventories consisted of the following: | ||||||||
June | December | |||||||
30, 2014 | 31, 2013 | |||||||
(in thousands) | ||||||||
Finished goods | $ | 16 | $ | 7 | ||||
Raw materials | 130 | 31 | ||||||
Total | $ | 146 | $ | 38 | ||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||
The following assumptions were used to estimate the fair value of stock options granted during the three and six months ended June 30, 2014: | ||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||
June 30, 2014 | June 30, 2014 | |||||||||||||
Volatility | 74 | % | 74 | % | ||||||||||
Risk-free interest rate | 1.68 | % | 1.66 | % | ||||||||||
Expected holding period | 6.22 years | 6.22 years | ||||||||||||
Dividend Yield | - | % | - | % | ||||||||||
Harvard Bioscience Plan [Member] | ' | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | |||||||||||||
The following is a summary of stock option and restricted stock unit activity for the six months ended June 30, 2014: | ||||||||||||||
Stock Options | Restricted Stock Units | |||||||||||||
Stock Options | Weighted | Restricted Stock | Grant Date | |||||||||||
Outstanding | Average Exercise | Units Outstanding | Fair Value | |||||||||||
Price | ||||||||||||||
Balance at December 31, 2013 | 2,500,339 | $ | 3.2 | 326,185 | $ | 5.46 | ||||||||
Granted | - | - | - | - | ||||||||||
Exercised | -23,057 | 3.36 | - | - | ||||||||||
Vested (RSUs) | - | - | -154,628 | 4.7 | ||||||||||
Cancelled/forfeited | -311,635 | 5.58 | - | - | ||||||||||
Balance at June 30, 2014 | 2,165,647 | $ | 2.85 | 171,557 | $ | 6.14 | ||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||
Stock-based compensation expense for the three and six months ended June 30, 2014 and 2013, respectively, was allocated as follows: | ||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
(in thousands) | (in thousands) | |||||||||||||
Research and development | $ | 11 | $ | 21 | $ | 31 | $ | 37 | ||||||
Sales and marketing | 4 | - | 7 | - | ||||||||||
General and administrative | 165 | 137 | 324 | 257 | ||||||||||
Total stock-based compensation | $ | 180 | $ | 158 | $ | 362 | $ | 294 | ||||||
Equity Incentive Plan 2013 [Member] | ' | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | |||||||||||||
The following is a summary of stock option and restricted stock unit activity for the six months ended June 30, 2014: | ||||||||||||||
Stock Options | Restricted Stock Units | |||||||||||||
Stock Options | Weighted | Restricted Stock | Grant Date | |||||||||||
Outstanding | Average Exercise | Units Outstanding | Fair Value | |||||||||||
Price | ||||||||||||||
Balance at December 31, 2013 | 2,075,707 | $ | 4.34 | 19,492 | $ | 6 | ||||||||
Granted | 150,000 | 8.4 | - | - | ||||||||||
Exercised | -102,705 | 4.94 | - | - | ||||||||||
Vested (RSUs) | - | - | -9,796 | 6 | ||||||||||
Cancelled/forfeited | -147,301 | 4.46 | -1,716 | 6 | ||||||||||
Balance at June 30, 2014 | 1,975,701 | $ | 4.61 | 7,980 | $ | 6 | ||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||
Stock-based compensation expense for the three and six months ended June 30, 2014 and 2013, respectively, was allocated as follows: | ||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
(in thousands) | (in thousands) | |||||||||||||
Research and development | $ | 26 | $ | - | $ | 313 | $ | - | ||||||
Sales and marketing | - | - | 65 | - | ||||||||||
General and administrative | 89 | - | 731 | - | ||||||||||
Total stock-based compensation | $ | 115 | $ | - | $ | 1,109 | $ | - | ||||||
Overview_and_Basis_of_Presenta1
Overview and Basis of Presentation (Details Textual) (USD $) | 6 Months Ended | 18 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Oct. 31, 2013 |
Overview And Basis Of Presentation [Line Items] | ' | ' | ' |
Proceeds from Contributions from Parent | $0 | $3,884 | $15,000 |
Liquidity_Details_Textual
Liquidity (Details Textual) (USD $) | 6 Months Ended | 18 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | Oct. 31, 2013 | |
Liquidity Disclosure [Line Items] | ' | ' | ' |
Proceeds from Contributions from Parent | $0 | $3,884,000 | $15,000,000 |
Proceeds from Stock Options Exercised | $360,000 | ' | ' |
Inventories_Details
Inventories (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory [Line Items] | ' | ' |
Finished goods | $16 | $7 |
Raw Materials | 130 | 31 |
Total | $146 | $38 |
Related_Party_Transactions_Det
Related Party Transactions (Details Textual) (Harvard Bioscience, Inc [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Harvard Bioscience, Inc [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Costs and Expenses, Related Party | $0.10 | $0.70 | $0.20 | $1.20 |
Concentrations_Details_Textual
Concentrations (Details Textual) | 6 Months Ended |
Jun. 30, 2014 | |
Concentration Risk [Line Items] | ' |
Product Distribution Agreement Term | '10 years |
Accounts Receivable [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration Risk, Percentage | 100.00% |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Harvard Bioscience Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Stock Options Outstanding, Balance | 2,500,339 |
Stock Options Outstanding, Granted | 0 |
Stock Options Outstanding, Exercised | -23,057 |
Stock Options Outstanding, Cancelled / forfeited | -311,635 |
Stock Options Outstanding, Balance | 2,165,647 |
Weighted Average Exercise Price, Balance | $3.20 |
Weighted Average Exercise Price, Granted | $0 |
Weighted Average Exercise Price, Exercised | $3.36 |
Weighted Average Exercise Price, Cancelled / forfeited | $5.58 |
Weighted Average Exercise Price, Balance | $2.85 |
Equity Incentive Plan 2013 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Stock Options Outstanding, Balance | 2,075,707 |
Stock Options Outstanding, Granted | 150,000 |
Stock Options Outstanding, Exercised | -102,705 |
Stock Options Outstanding, Cancelled / forfeited | -147,301 |
Stock Options Outstanding, Balance | 1,975,701 |
Weighted Average Exercise Price, Balance | $4.34 |
Weighted Average Exercise Price, Granted | $8.40 |
Weighted Average Exercise Price, Exercised | $4.94 |
Weighted Average Exercise Price, Cancelled / forfeited | $4.46 |
Weighted Average Exercise Price, Balance | $4.61 |
Restricted Stock Units (RSUs) [Member] | Harvard Bioscience Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Restricted Stock Units Outstanding, Balance | 326,185 |
Restricted Stock Units Outstanding, Granted | 0 |
Restricted Stock Units Outstanding, Vested (RSUs) | -154,628 |
Restricted Stock Units Outstanding, Cancelled / forfeited | 0 |
Restricted Stock Units Outstanding, Balance | 171,557 |
GrantDate Fair Value, Balance | $5.46 |
GrantDate Fair Value, Granted | $0 |
GrantDate Fair Value, Vested (RSUs) | $4.70 |
GrantDate Fair Value, Cancelled / forfeited | $0 |
GrantDate Fair Value, Balance | $6.14 |
Restricted Stock Units (RSUs) [Member] | Equity Incentive Plan 2013 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Restricted Stock Units Outstanding, Balance | 19,492 |
Restricted Stock Units Outstanding, Granted | 0 |
Restricted Stock Units Outstanding, Vested (RSUs) | -9,796 |
Restricted Stock Units Outstanding, Cancelled / forfeited | -1,716 |
Restricted Stock Units Outstanding, Balance | 7,980 |
GrantDate Fair Value, Balance | $6 |
GrantDate Fair Value, Granted | $0 |
GrantDate Fair Value, Vested (RSUs) | $6 |
GrantDate Fair Value, Cancelled / forfeited | $6 |
GrantDate Fair Value, Balance | $6 |
StockBased_Compensation_Detail1
Stock-Based Compensation (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Harvard Bioscience Plan [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation | $180 | $158 | $362 | $294 |
Equity Incentive Plan 2013 [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation | 115 | 0 | 1,109 | 0 |
Research and Development [Member] | Harvard Bioscience Plan [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation | 11 | 21 | 31 | 37 |
Research and Development [Member] | Equity Incentive Plan 2013 [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation | 26 | 0 | 313 | 0 |
Selling and Marketing [Member] | Harvard Bioscience Plan [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation | 4 | 0 | 7 | 0 |
Selling and Marketing [Member] | Equity Incentive Plan 2013 [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation | 0 | 0 | 65 | 0 |
General and Administrative [Member] | Harvard Bioscience Plan [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation | 165 | 137 | 324 | 257 |
General and Administrative [Member] | Equity Incentive Plan 2013 [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation | $89 | $0 | $731 | $0 |
StockBased_Compensation_Detail2
Stock-Based Compensation (Details 2) (Equity Incentive Plan 2013 [Member]) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2014 | Jun. 30, 2014 | |
Equity Incentive Plan 2013 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Volatility | 74.00% | 74.00% |
Risk-free interest rate | 1.68% | 1.66% |
Expected holding period | '6 years 2 months 19 days | '6 years 2 months 19 days |
Dividend Yield | 0.00% | 0.00% |
StockBased_Compensation_Detail3
Stock-Based Compensation (Details Textual) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Harvard Bioscience Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 |
Equity Incentive Plan 2013 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | 5.55 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,000,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 150,000 |
Common Stock, Capital Shares Reserved for Future Issuance | 3,000,000 |