Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Mar. 31, 2014 | |
Document And Entity Information [Abstract] | ' |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 31-Mar-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q1 |
Entity Registrant Name | 'PROVECTUS BIOPHARMACEUTICALS, INC. |
Entity Central Index Key | '0000315545 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Accelerated Filer |
Entity Common Stock, Shares Outstanding | 173,125,972 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Current Assets | ' | ' |
Cash and cash equivalents | $16,648,916 | $15,696,243 |
Total Current Assets | 16,648,916 | 15,696,243 |
Equipment and furnishings, less accumulated depreciation of $431,047 and $429,331, respectively | 28,397 | 30,113 |
Patents, net of amortization of $7,628,397 and $7,460,617, respectively | 4,087,048 | 4,254,828 |
Other assets | 27,000 | 27,000 |
Total Assets | 20,791,361 | 20,008,184 |
Current Liabilities | ' | ' |
Accounts payable - trade | 725,288 | 348,869 |
Accrued consulting expense | 61,282 | 61,282 |
Other accrued expenses | 48,584 | 102,795 |
Total Current Liabilities | 835,154 | 512,946 |
Long-Term Liability | ' | ' |
Warrant liability | 5,436,056 | 12,866,572 |
Total Liabilities | 6,271,210 | 13,379,518 |
Stockholders' Equity | ' | ' |
Preferred stock; par value $.001 per share; 25,000,000 shares authorized; Series A 8% convertible preferred stock, 0 and 33,334 shares issued and outstanding, respectively, liquidation preference $0.75 (for 2013 in aggregate $25,001) | ' | 33 |
Common stock; par value $.001 per share; 250,000,000 authorized; 173,125,972 and 159,751,724 shares issued and outstanding, respectively | 173,126 | 159,752 |
Paid-in capital | 167,065,112 | 152,519,701 |
Deficit accumulated during the development stage | -152,718,087 | -146,050,820 |
Total Stockholders' Equity | 14,520,151 | 6,628,666 |
Total Liabilities and Stockholders' Equity | $20,791,361 | $20,008,184 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Accumulated depreciation on equipment and furnishings | $431,047 | $429,331 |
Amortization on patents | 7,628,397 | 7,460,617 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 173,125,972 | 159,751,724 |
Common stock, shares outstanding | 173,125,972 | 159,751,724 |
Series A 8% Convertible Preferred Stock [Member] | ' | ' |
Preferred stock, shares issued | 0 | 33,334 |
Preferred stock, shares outstanding | 0 | 33,334 |
Preferred stock, liquidation preference per share | $0.75 | $0.75 |
Aggregate liquidation preference | $25,001 | $25,001 |
Convertible preferred stock | 8.00% | 8.00% |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 146 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Revenues | ' | ' | ' |
OTC product revenue | ' | ' | $25,648 |
Medical device revenue | ' | ' | 14,109 |
Total revenues | ' | ' | 39,757 |
Cost of sales | ' | ' | 15,216 |
Gross profit | ' | ' | 24,541 |
Operating expenses | ' | ' | ' |
Research and development | 1,157,883 | 740,516 | 47,852,291 |
General and administrative | 3,055,944 | 2,338,403 | 78,003,097 |
Amortization | 167,780 | 167,780 | 7,628,397 |
Total operating loss | -4,381,607 | -3,246,699 | -133,459,244 |
Gain on sale of fixed assets | ' | ' | 55,075 |
Loss on extinguishment of debt | ' | ' | -825,867 |
Investment income | 1,373 | 27 | 655,915 |
(Loss) gain on change in fair value of warrant liability | -2,287,033 | -923,510 | -11,045,962 |
Net interest expense | ' | ' | -8,098,004 |
Net loss | -6,667,267 | -4,170,182 | -152,718,087 |
Dividends on preferred stock | ' | -1,076,934 | -12,026,710 |
Net loss applicable to common shareholders | ($6,667,267) | ($5,247,116) | ($164,744,797) |
Basic and diluted loss per common share | ($0.04) | ($0.04) | ' |
Weighted average number of common shares outstanding - basic and diluted | 168,859,658 | 120,702,172 | ' |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (Unaudited) (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Paid in Capital [Member] | Accumulated Deficit [Member] |
Beginning Balance at Jan. 17, 2002 | ' | ' | ' | ' | ' |
Beginning Balance, shares at Jan. 17, 2002 | ' | ' | ' | ' | ' |
Issuance to founding shareholders | ' | ' | 6,000 | -6,000 | ' |
Issuance to founding shareholders, shares | ' | ' | 6,000,000 | ' | ' |
Sale of stock | 25,000 | ' | 50 | 24,950 | ' |
Sale of stock, shares | ' | ' | 50,000 | ' | ' |
Issuance of stock to employees | 932,000 | ' | 510 | 931,490 | ' |
Issuance of stock to employees, shares | ' | ' | 510,000 | ' | ' |
Issuance of stock for services | 360,000 | ' | 120 | 359,880 | ' |
Issuance of stock for services, shares | ' | ' | 120,000 | ' | ' |
Net loss | -1,316,198 | ' | ' | ' | -1,316,198 |
Ending Balance at Apr. 23, 2002 | 802 | ' | 6,680 | 1,310,320 | -1,316,198 |
Ending Balance, shares at Apr. 23, 2002 | ' | ' | 6,680,000 | ' | ' |
Shares issued in reverse merger | -3,645 | ' | 266 | -3,911 | ' |
Shares issued in reverse merger, shares | ' | ' | 265,763 | ' | ' |
Purchase and retirement of stock | -48,000 | ' | -400 | -47,600 | ' |
Purchase and retirement of stock, shares | ' | ' | -400,000 | ' | ' |
Stock issued for acquisition of Valley Pharmaceuticals | 12,226,320 | ' | 500 | 12,225,820 | ' |
Stock issued for acquisition of Valley Pharmaceuticals, shares | ' | ' | 500,007 | ' | ' |
Exercise of warrants | 453 | ' | 453 | ' | ' |
Issuance of stock for services | 5,144,000 | ' | 1,900 | 5,142,100 | ' |
Exercise of warrants, shares | ' | ' | 452,919 | ' | ' |
Warrants issued in connection with convertible debt | 126,587 | ' | ' | 126,587 | ' |
Issuance of stock for services, shares | ' | ' | 1,900,000 | ' | ' |
Stock and warrants issued for acquisition of Pure-ific | 27,000 | ' | 25 | 26,975 | ' |
Stock and warrants issued for acquisition of Pure-ific, shares | ' | ' | 25,000 | ' | ' |
Net loss | -5,749,937 | ' | ' | ' | -5,749,937 |
Ending Balance at Dec. 31, 2002 | 11,723,580 | ' | 9,424 | 18,780,291 | -7,066,135 |
Ending Balance, shares at Dec. 31, 2002 | ' | ' | 9,423,689 | ' | ' |
Stock to be issued for services | 281,500 | ' | ' | 281,500 | ' |
Issuance of warrants for services | 145,479 | ' | ' | 145,479 | ' |
Issuance of common stock pursuant to Regulation S | 380,347 | ' | 680 | 379,667 | ' |
Issuance of stock pursuant to Regulation S, shares | ' | ' | 679,820 | ' | ' |
Issuance of stock for services | 239,800 | ' | 764 | 239,036 | ' |
Issuance of stock for services, shares | ' | ' | 764,000 | ' | ' |
Employee compensation from stock options | 34,659 | ' | ' | 34,659 | ' |
Beneficial conversion related to convertible debt | 601,000 | ' | ' | 601,000 | ' |
Net loss | -3,155,313 | ' | ' | ' | -3,155,313 |
Ending Balance at Dec. 31, 2003 | 10,251,052 | ' | 10,868 | 20,461,632 | -10,221,448 |
Ending Balance, shares at Dec. 31, 2003 | ' | ' | 10,867,509 | ' | ' |
Issuance of warrants for services | 495,480 | ' | ' | 495,480 | ' |
Issuance of common stock pursuant to Regulation S | 793,137 | ' | 2,469 | 790,668 | ' |
Issuance of stock pursuant to Regulation S, shares | ' | ' | 2,469,723 | ' | ' |
Exercise of warrants | 5,000 | ' | 133 | 4,867 | ' |
Issuance of stock for services | 449,923 | ' | 734 | 449,190 | ' |
Exercise of warrants, shares | ' | ' | 132,608 | ' | ' |
Issuance of stock for services, shares | ' | ' | 733,872 | ' | ' |
Employee compensation from stock options | 15,612 | ' | ' | 15,612 | ' |
Issuance of convertible debt with warrants | 105,250 | ' | ' | 105,250 | ' |
Issuance of stock and warrants pursuant to Regulation D | 1,288,861 | ' | 1,930 | 1,286,930 | ' |
Issuance of stock and warrants pursuant to Regulation D, shares | ' | ' | 1,930,164 | ' | ' |
Beneficial conversion related to convertible debt | 360,256 | ' | ' | 360,256 | ' |
Repurchase of beneficial conversion feature | -258,345 | ' | ' | -258,345 | ' |
Net loss | -4,344,525 | ' | ' | ' | -4,344,525 |
Ending Balance at Dec. 31, 2004 | 9,161,701 | ' | 16,134 | 23,711,540 | -14,565,973 |
Ending Balance, shares at Dec. 31, 2004 | ' | ' | 16,133,876 | ' | ' |
Issuance of stock for interest payable | 196,031 | ' | 264 | 195,767 | ' |
Issuance of stock for interest payable, shares | ' | ' | 263,721 | ' | ' |
Issuance of warrants for services | 1,534,405 | ' | ' | 1,534,405 | ' |
Issuance of warrants for contractual obligations | 985,010 | ' | ' | 985,010 | ' |
Exercise of warrants and stock options | 1,439,795 | ' | 1,572 | 1,438,223 | ' |
Exercise of warrants and stock options, shares | ' | ' | 1,571,849 | ' | ' |
Issuance of stock for services | 152,285 | ' | 227 | 152,058 | ' |
Issuance of stock for services, shares | ' | ' | 226,733 | ' | ' |
Employee compensation from stock options | 15,752 | ' | ' | 15,752 | ' |
Issuance of convertible debt with warrants | 1,574,900 | ' | ' | 1,574,900 | ' |
Issuance of stock and warrants pursuant to Regulation D | 6,513,176 | ' | 6,221 | 6,506,955 | ' |
Issuance of stock and warrants pursuant to Regulation D, shares | ' | ' | 6,221,257 | ' | ' |
Beneficial conversion related to interest expense | 39,529 | ' | ' | 39,529 | ' |
Preferred stock conversions into common stock | 3,049,362 | ' | 3,405 | 3,045,957 | ' |
Beneficial conversion related to convertible debt | 1,633,176 | ' | ' | 1,633,176 | ' |
Repurchase of beneficial conversion feature | -144,128 | ' | ' | -144,128 | ' |
Preferred stock/Debt conversions into common stock, shares | ' | ' | 3,405,541 | ' | ' |
Net loss | -11,763,853 | ' | ' | ' | -11,763,853 |
Ending Balance at Dec. 31, 2005 | 14,387,141 | ' | 27,823 | 40,689,144 | -26,329,826 |
Ending Balance, shares at Dec. 31, 2005 | ' | ' | 27,822,977 | ' | ' |
Issuance of stock for interest payable | 183,596 | ' | 195 | 183,401 | ' |
Issuance of stock for interest payable, shares | ' | ' | 194,327 | ' | ' |
Issuance of warrants for services | 370,023 | ' | ' | 370,023 | ' |
Exercise of warrants and stock options | 1,189,816 | ' | 1,246 | 1,188,570 | ' |
Exercise of warrants and stock options, shares | ' | ' | 1,245,809 | ' | ' |
Issuance of stock for services | 676,743 | ' | 719 | 676,024 | ' |
Issuance of stock for services, shares | ' | ' | 719,246 | ' | ' |
Employee compensation from stock options | 1,862,456 | ' | ' | 1,862,456 | ' |
Issuance of stock and warrants pursuant to Regulation D | 4,130,421 | ' | 10,092 | 4,120,329 | ' |
Issuance of stock and warrants pursuant to Regulation D, shares | ' | ' | 10,092,495 | ' | ' |
Beneficial conversion related to interest expense | 16,447 | ' | ' | 16,447 | ' |
Preferred stock conversions into common stock | 1,576,336 | ' | 2,377 | 1,573,959 | ' |
Preferred stock/Debt conversions into common stock, shares | ' | ' | 2,377,512 | ' | ' |
Net loss | -8,870,579 | ' | ' | ' | -8,870,579 |
Ending Balance at Dec. 31, 2006 | 15,522,400 | ' | 42,452 | 50,680,353 | -35,200,405 |
Ending Balance, shares at Dec. 31, 2006 | ' | ' | 42,452,366 | ' | ' |
Issuance of stock for interest payable | 1,258 | ' | 1 | 1,257 | ' |
Issuance of stock for interest payable, shares | ' | ' | 1,141 | ' | ' |
Issuance of warrants for services | 472,635 | ' | ' | 472,635 | ' |
Exercise of warrants and stock options | 3,985,641 | ' | 3,929 | 3,981,712 | ' |
Exercise of warrants and stock options, shares | ' | ' | 3,928,957 | ' | ' |
Issuance of stock for services | 298,950 | ' | 150 | 298,800 | ' |
Issuance of stock for services, shares | ' | ' | 150,000 | ' | ' |
Employee compensation from stock options | 2,340,619 | ' | ' | 2,340,619 | ' |
Issuance of stock and warrants pursuant to Regulation D | 1,848,138 | ' | 2,377 | 1,845,761 | ' |
Issuance of stock and warrants pursuant to Regulation D, shares | ' | ' | 2,376,817 | ' | ' |
Preferred stock conversions into common stock | 367,500 | ' | 490 | 367,010 | ' |
Preferred stock/Debt conversions into common stock, shares | ' | ' | 490,000 | ' | ' |
Net loss | -10,005,631 | ' | ' | ' | -10,005,631 |
Ending Balance at Dec. 31, 2007 | 14,831,510 | ' | 49,399 | 59,988,147 | -45,206,036 |
Ending Balance, shares at Dec. 31, 2007 | ' | ' | 49,399,281 | ' | ' |
Issuance of warrants for services | 517,820 | ' | ' | 517,820 | ' |
Exercise of warrants and stock options | 2,639,711 | ' | 3,268 | 2,636,443 | ' |
Exercise of warrants and stock options, shares | ' | ' | 3,267,795 | ' | ' |
Issuance of stock for services | 390,000 | ' | 350 | 389,650 | ' |
Issuance of stock for services, shares | ' | ' | 350,000 | ' | ' |
Employee compensation from stock options | 1,946,066 | ' | ' | 1,946,066 | ' |
Net loss | -10,269,571 | ' | ' | ' | -10,269,571 |
Ending Balance at Dec. 31, 2008 | 10,055,536 | ' | 53,017 | 65,478,126 | -55,475,607 |
Ending Balance, shares at Dec. 31, 2008 | ' | ' | 53,017,076 | ' | ' |
Issuance of warrants for services | 1,064,210 | ' | ' | 1,064,210 | ' |
Exercise of warrants and stock options | 2,524,453 | ' | 3,480 | 2,520,973 | ' |
Exercise of warrants and stock options, shares | ' | ' | 3,480,485 | ' | ' |
Issuance of stock for services | 695,000 | ' | 796 | 694,204 | ' |
Issuance of stock for services, shares | ' | ' | 796,012 | ' | ' |
Employee compensation from stock options | 870,937 | ' | ' | 870,937 | ' |
Issuance of stock and warrants pursuant to Regulation D | 6,518,688 | ' | 10,117 | 6,508,571 | ' |
Issuance of stock and warrants pursuant to Regulation D, shares | ' | ' | 10,116,653 | ' | ' |
Net loss | -12,322,314 | ' | ' | ' | -12,322,314 |
Ending Balance at Dec. 31, 2009 | 9,406,510 | ' | 67,410 | 77,137,021 | -67,797,921 |
Ending Balance, shares at Dec. 31, 2009 | ' | ' | 67,410,226 | ' | ' |
Issuance of warrants for services | 1,141,593 | ' | ' | 1,141,593 | ' |
Issuance of common stock pursuant to Regulation S | 419,250 | ' | 559 | 418,691 | ' |
Exercise of warrants and stock options | 3,103,680 | ' | 3,491 | 3,100,189 | ' |
Issuance of stock pursuant to Regulation S, shares | ' | ' | 559,000 | ' | ' |
Exercise of warrants and stock options, shares | ' | ' | 3,491,014 | ' | ' |
Issuance of common stock and warrants pursuant to Regulation D | 6,346,989 | ' | 11,169 | 6,335,820 | ' |
Issuance of common stock and warrants pursuant to Regulation D, shares | ' | 13,283,324 | 11,168,067 | ' | ' |
Issuance of preferred stock and warrants pursuant to Regulation D | 4,217,390 | 13,283 | ' | 4,204,107 | ' |
Issuance of stock for services | 856,613 | ' | 776 | 855,837 | ' |
Issuance of common stock and warrants pursuant to Regulation D, shares | ' | 13,283,324 | 11,168,067 | ' | ' |
Issuance of stock for services, shares | ' | ' | 776,250 | ' | ' |
Employee compensation from stock options | 3,759,650 | ' | ' | 3,759,650 | ' |
Preferred stock conversions into common stock | ' | -7,893 | 7,893 | ' | ' |
Preferred stock/Debt conversions into common stock, shares | ' | -7,893,326 | 7,893,326 | ' | ' |
Net loss | -18,552,102 | ' | ' | ' | -18,552,102 |
Ending Balance at Dec. 31, 2010 | 10,699,573 | 5,390 | 91,298 | 96,952,908 | -86,350,023 |
Ending Balance, shares at Dec. 31, 2010 | ' | 5,389,998 | 91,297,883 | ' | ' |
Issuance of warrants for services | 945,116 | ' | ' | 945,116 | ' |
Exercise of warrants and stock options | 6,623,311 | ' | 7,185 | 6,616,126 | ' |
Exercise of warrants and stock options, shares | ' | ' | 7,185,522 | ' | ' |
Issuance of common stock and warrants pursuant to Regulation D | 7,041,239 | ' | 9,905 | 7,031,334 | ' |
Sale of non-controlling interest in Pure-ific Corporation and warrants | 443,500 | ' | ' | 443,500 | ' |
Issuance of common stock and warrants pursuant to Regulation D, shares | ' | ' | 9,905,062 | ' | ' |
Issuance of stock for services | 332,750 | ' | 350 | 332,400 | ' |
Issuance of common stock and warrants pursuant to Regulation D, shares | ' | ' | 9,905,062 | ' | ' |
Issuance of stock for services, shares | ' | ' | 350,000 | ' | ' |
Employee compensation from stock options | 3,368,950 | ' | ' | 3,368,950 | ' |
Preferred stock conversions into common stock | ' | -1,859 | 1,859 | ' | ' |
Preferred stock/Debt conversions into common stock, shares | ' | -1,858,333 | 1,858,331 | ' | ' |
Net loss | -19,434,699 | ' | ' | ' | -19,434,699 |
Ending Balance at Dec. 31, 2011 | 10,019,740 | 3,531 | 110,597 | 115,690,334 | -105,784,722 |
Ending Balance, shares at Dec. 31, 2011 | ' | 3,531,665 | 110,596,798 | ' | ' |
Issuance of warrants for services | 1,512,026 | ' | ' | 1,512,026 | ' |
Issuance of common stock and warrants pursuant to Regulation D | 4,790,544 | ' | 6,228 | 4,784,316 | ' |
Issuance of common stock and warrants pursuant to Regulation D, shares | ' | ' | 6,227,647 | ' | ' |
Issuance of stock for services | 456,500 | ' | 550 | 455,950 | ' |
Issuance of common stock and warrants pursuant to Regulation D, shares | ' | ' | 6,227,647 | ' | ' |
Issuance of stock for services, shares | ' | ' | 550,000 | ' | ' |
Employee compensation from stock options | 183,028 | ' | ' | 183,028 | ' |
Preferred stock conversions into common stock | ' | -1,053 | 1,053 | ' | ' |
Preferred stock/Debt conversions into common stock, shares | ' | -1,053,480 | 1,053,480 | ' | ' |
Net loss | -12,568,354 | ' | ' | ' | -12,568,354 |
Ending Balance at Dec. 31, 2012 | 4,393,484 | 2,478 | 118,428 | 122,625,654 | -118,353,076 |
Ending Balance, shares at Dec. 31, 2012 | ' | 2,478,185 | 118,427,925 | ' | ' |
Issuance of warrants for services | 1,786,824 | ' | ' | 1,786,824 | ' |
Exercise of warrants and stock options | 7,835,470 | ' | 6,320 | 7,829,150 | ' |
Exercise of warrants and stock options, shares | ' | ' | 6,319,594 | ' | ' |
Issuance of common stock and warrants pursuant to Regulation D | 18,419,335 | ' | 28,409 | 18,390,926 | ' |
Issuance of preferred stock and warrants pursuant to Regulation D, shares | ' | 3,400,001 | ' | ' | ' |
Issuance of common stock and warrants pursuant to Regulation D, shares | ' | ' | 28,409,353 | ' | ' |
Issuance of preferred stock and warrants pursuant to Regulation D | 1,252,050 | 3,400 | ' | 1,248,650 | ' |
Issuance of stock for services | 526,000 | ' | 750 | 525,250 | ' |
Issuance of common stock and warrants pursuant to Regulation D, shares | ' | ' | 28,409,353 | ' | ' |
Issuance of stock for services, shares | ' | ' | 750,000 | ' | ' |
Employee compensation from stock options | 142,310 | ' | ' | 142,310 | ' |
Dividends on preferred stock | -29,063 | ' | ' | -29,063 | ' |
Preferred stock conversions into common stock | ' | -5,845 | 5,845 | ' | ' |
Preferred stock/Debt conversions into common stock, shares | ' | -5,844,852 | 5,844,852 | ' | ' |
Net loss | -27,697,744 | ' | ' | ' | -27,697,744 |
Ending Balance at Dec. 31, 2013 | 6,628,666 | 33 | 159,752 | 152,519,701 | -146,050,820 |
Ending Balance, shares at Dec. 31, 2013 | ' | 33,334 | 159,751,724 | ' | ' |
Issuance of warrants for services | 900,317 | ' | ' | 900,317 | ' |
Exercise of warrants and stock options | 13,520,935 | ' | 13,266 | 13,507,669 | ' |
Exercise of warrants and stock options, shares | ' | ' | 13,265,914 | ' | ' |
Issuance of stock for services | 137,500 | ' | 75 | 137,425 | ' |
Issuance of stock for services, shares | ' | ' | 75,000 | ' | ' |
Preferred stock conversions into common stock | ' | -33 | 33 | ' | ' |
Preferred stock/Debt conversions into common stock, shares | ' | -33,334 | 33,334 | ' | ' |
Net loss | -6,667,267 | ' | ' | ' | -6,667,267 |
Ending Balance at Mar. 31, 2014 | $14,520,151 | ' | $173,126 | $167,065,112 | ($152,718,087) |
Ending Balance, shares at Mar. 31, 2014 | ' | ' | 173,125,972 | ' | ' |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) (USD $) | 3 Months Ended | 146 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Cash Flows From Operating Activities | ' | ' | ' |
Net loss | ($6,667,267) | ($4,170,182) | ($152,718,087) |
Adjustments to reconcile net loss to net cash used in operating activities | ' | ' | ' |
Depreciation | 1,716 | 1,550 | 454,048 |
Amortization of patents | 167,780 | 167,780 | 7,628,397 |
Amortization of original issue discount | ' | ' | 3,845,721 |
Amortization of commitment fee | ' | ' | 310,866 |
Amortization of prepaid consultant expense | ' | ' | 1,295,226 |
Amortization of deferred loan costs | ' | ' | 2,261,584 |
Accretion of United States Treasury Bills | ' | ' | -373,295 |
Loss on extinguishment of debt | ' | ' | 825,867 |
Loss on exercise of warrants | ' | ' | 236,146 |
Beneficial conversion of convertible interest | ' | ' | 55,976 |
Convertible interest | ' | ' | 389,950 |
Compensation through issuance of stock options | ' | ' | 14,540,039 |
Compensation through issuance of stock | ' | ' | 932,000 |
Issuance of stock for services | 137,500 | 48,750 | 9,717,011 |
Issuance of warrants for services | 900,317 | 409,640 | 8,883,710 |
Issuance of warrants for contractual obligations | ' | ' | 985,010 |
Gain on sale of equipment | ' | ' | -55,075 |
Loss on change in fair value of warrant liability | 2,287,033 | 923,510 | 11,045,962 |
Change in assets and liabilities | ' | ' | ' |
Prepaid expenses and other current assets | ' | -140,784 | ' |
Accounts payable | 376,419 | -193,544 | 721,643 |
Accrued expenses | -54,211 | -23,140 | 259,496 |
Net cash used in operating activities | -2,850,713 | -2,976,420 | -88,757,805 |
Cash Flows From Investing Activities | ' | ' | ' |
Proceeds from sale of fixed assets | ' | ' | 180,075 |
Capital expenditures | ' | ' | -96,570 |
Proceeds from sales of investments | ' | ' | 37,010,481 |
Purchases of investments | ' | ' | -36,637,186 |
Net cash provided by investing activities | ' | ' | 456,800 |
Cash Flows From Financing Activities | ' | ' | ' |
Net proceeds from loans from stockholder | ' | ' | 174,000 |
Proceeds from convertible debt | ' | ' | 6,706,795 |
Net proceeds from sales of preferred stock and warrants | ' | 2,550,000 | 11,458,131 |
Net proceeds from sales of common stock and warrants | ' | 3,522,869 | 61,233,856 |
Proceeds from exercises of warrants and stock options | 3,803,386 | ' | 28,314,792 |
Cash paid for preferred dividends | ' | ' | -29,063 |
Cash paid to retire convertible debt | ' | ' | -2,385,959 |
Cash paid for deferred loan costs | ' | ' | -747,612 |
Premium paid on extinguishments of debt | ' | ' | -170,519 |
Net proceeds from sale of non-controlling interest in Pure-ific Corporation | ' | ' | 443,500 |
Purchase and retirement of common stock | ' | ' | -48,000 |
Net cash provided by financing activities | 3,803,386 | 6,072,869 | 104,949,921 |
Net change in cash and cash equivalents | 952,673 | 3,096,449 | 16,648,916 |
Cash and cash equivalents, at beginning of period | 15,696,243 | 1,221,701 | ' |
Cash and cash equivalents, at end of period | 16,648,916 | 4,318,150 | 16,648,916 |
Supplemental Disclosure of Noncash Investing and Financing Activities | ' | ' | ' |
Reclassification of warrant liability to equity due to exercise of warrants | $9,717,549 | ' | ' |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
1. Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information pursuant to Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ended December 31, 2014. The Company has evaluated subsequent events through the date the condensed consolidated financial statements were issued. |
Recapitalization_Merger_Reinco
Recapitalization, Merger, Reincorporation and Name Change | 3 Months Ended |
Mar. 31, 2014 | |
Business Combinations [Abstract] | ' |
Recapitalization, Merger, Reincorporation and Name Change | ' |
2. Recapitalization, Merger, Reincorporation and Name Change | |
Provectus Biopharmaceuticals, Inc., formerly known as “Provectus Pharmaceuticals, Inc.,” “Provectus Pharmaceutical, Inc.” and “SPM Group, Inc.,” was incorporated under Colorado law on May 1, 1978. SPM Group ceased operations in 1991, and became a development-stage company effective January 1, 1992, with the new corporate purpose of seeking out acquisitions of properties, businesses, or merger candidates, without limitation as to the nature of the business operations or geographic location of the acquisition candidate. | |
On April 1, 2002, SPM Group changed its name to “Provectus Pharmaceutical, Inc.” and reincorporated in Nevada in preparation for a transaction with Provectus Pharmaceuticals, Inc., a privately-held Tennessee corporation (“PPI”). On April 23, 2002, an Agreement and Plan of Reorganization between Provectus Pharmaceutical and PPI was approved by the written consent of a majority of the outstanding shares of Provectus Pharmaceutical. As a result, Provectus Pharmaceuticals, Inc. issued 6,680,000 shares of common stock in exchange for all of the issued and outstanding shares of PPI. As part of the acquisition, Provectus Pharmaceutical changed its name to “Provectus Pharmaceuticals, Inc.” and PPI became a wholly-owned subsidiary of Provectus. This transaction was recorded as a recapitalization of PPI. | |
On November 19, 2002, the Company acquired Valley Pharmaceuticals, Inc., a privately-held Tennessee corporation formerly known as Photogen, Inc., by merging PPI with and into Valley and naming the surviving corporation “Xantech Pharmaceuticals, Inc.” Photogen, Inc. was separated from Photogen Technologies, Inc. in a non-pro-rata split-off to some of its shareholders. The assets of Photogen, Inc. consisted primarily of the equipment and intangibles related to its therapeutic activity and were recorded at their fair value. The majority shareholders of Valley were also the majority shareholders of Provectus. Valley had no revenues prior to the transaction with the Company. By acquiring Valley, the Company acquired its intellectual property, including issued U.S. patents and patentable inventions. | |
On December 16, 2013, Provectus Pharmaceuticals, Inc. was reincorporated in Delaware and changed its name to Provectus Biopharmaceuticals, Inc. |
Basic_and_Diluted_Loss_Per_Com
Basic and Diluted Loss Per Common Share | 3 Months Ended |
Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ' |
Basic and Diluted Loss Per Common Share | ' |
3. Basic and Diluted Loss Per Common Share | |
Basic and diluted loss per common share is computed based on the weighted average number of common shares outstanding. Loss per share excludes the impact of outstanding options and warrants and convertible preferred stock as they are antidilutive. Potential common shares excluded from the calculation at March 31, 2014 and 2013, respectively, relate to 58,090,500 and 43,169,822 from warrants, 13,893,334 and 15,140,956 from options, and 0 and 5,285,186 from convertible preferred shares. |
Equity_Transactions
Equity Transactions | 3 Months Ended |
Mar. 31, 2014 | |
Text Block [Abstract] | ' |
Equity Transactions | ' |
4. Equity Transactions | |
(a) During the three months ended March 31, 2014, the Company issued 75,000 shares of common stock to consultants in exchange for services. Consulting costs charged to operations were $137,500. During the three months ended March 31, 2013, the Company issued 75,000 shares of common stock to consultants in exchange for services. Consulting costs charged to operations were $48,750. | |
(b) During the three months ended March 31, 2014, the Company issued 733,000 fully vested warrants to consultants in exchange for services. Consulting costs charged to operations were $900,317. During the three months ended March 31, 2014, 121,500 warrants were forfeited. During the three months ended March 31, 2014, 12,522,198 warrants were exercised on a cashless basis resulting in 9,100,824 common shares being issued. During the three months ended March 31, 2014, 3,036,218 warrants were exercised for $2,672,364 resulting in 3,036,218 common shares issued. The warrant exercises include the exercises of warrants classified as liabilities that are described below in (c), (d) and (e). During the three months ended March 31, 2013, the Company issued 1,924,973 fully vested warrants to consultants in exchange for services. Consulting costs charged to operations were $409,640. During the three months ended March 31, 2013, 859,833 warrants were forfeited. | |
As the fair market value of these services was not readily determinable, these services were valued based on the fair market value of the warrants, determined using the Black-Scholes option-pricing model. | |
(c) The Company determined that warrants issued January 13, 2011 and referred to as Series A Warrants and Series C Warrants should be classified as liabilities in accordance with ASC 815 because the warrants in question contain exercise price reset features that require the exercise price of the warrants be adjusted if the Company issues certain other equity related instruments at a lower price per share. The value of the warrant liability was determined based on the Monte-Carlo Simulation model at the date the warrants were issued. The warrant liability is then revalued at each subsequent quarter or upon exercise. For the three months ended March 31, 2014 and 2013, there was a total loss recognized from the revaluation of the warrant liability of $1,153,835 and $311,062, respectively. During the three months ended March 31, 2014, 858,825 of the Series A Warrants were exercised. During the three months ended March 31, 2014, 697,092 of the Series C Warrants were exercised. The Company determined the fair value of the Series A and Series C Warrants exercised on the date of exercise and adjusted the related warrant liability accordingly. The adjusted fair value of the Series A and Series C Warrants exercised of $3,911,370 was reclassified into additional paid-in capital. | |
(d) In March and April 2010, the Company had an issuance of 8% Convertible Preferred Stock with warrants. The Company determined that warrants issued with the 8% convertible preferred stock should be classified as liabilities in accordance with ASC 815 because the warrants in question contain exercise price reset features that require the exercise price of the warrants be adjusted if the Company issues certain other equity related instruments at a lower price per share. The value of the warrant liability was determined based on the Monte-Carlo Simulation model at the date the warrants were issued. The warrant liability is then revalued at each subsequent quarter or upon exercise. For the three months ended March 31, 2014 and 2013, there was a total loss recognized from the revaluation of the warrant liability of $211,422 and $446,698, respectively. During the three months ended March 31, 2014, 1,756,665 of the warrants included in the warrant liability were exercised. The Company determined the fair value of the warrants exercised on the date of exercise and adjusted the related warrant liability accordingly. The adjusted fair value of the warrants exercised of $2,096,013 was reclassified into additional paid-in capital. | |
(e) In February 2013, the Company had an issuance of Series A 8% Convertible Preferred Stock with warrants. The Company determined that warrants issued with the Series A 8% Convertible Preferred Stock should be classified as liabilities in accordance with ASC 815 because the warrants in question contain exercise price reset features that require the exercise price of the warrants be adjusted if the Company issues certain other equity related instruments at a lower price per share. The preferred stock was determined to have characteristics more akin to equity than debt. As a result, the conversion option was determined to be clearly and closely related to the preferred stock and therefore does not need to be bifurcated and classified as a liability. The proceeds received from the issuance of the preferred stock were first allocated to the fair value of the warrants with the remainder allocated to the preferred stock. The fair value of the preferred stock if converted on the date of issuance was greater than the value allocated to the preferred stock. As a result, a beneficial conversion amount was recorded upon issuance. The fair value of the warrants recorded from the February 2013 issuance was $1,297,950 resulting in a beneficial conversion amount of $1,025,950. The beneficial conversion has been recorded as a deemed dividend as of March 31, 2013 and is included in dividends on preferred stock on the consolidated statements of operations. The value of the warrant liability was determined based on the Monte-Carlo Simulation model at the date the warrants were issued. The warrant liability is then revalued at each subsequent quarter or upon exercise. For the three months ended March 31, 2014 and 2013, there was a total loss recognized from the revaluation of the warrant liability of $921,776 and $165,750, respectively. During the three months ended March 31, 2014, 1,650,000 of the warrants included in the warrant liability were exercised. The Company determined the fair value of the warrants exercised on the date of exercise and adjusted the related warrant liability accordingly. The adjusted fair value of the warrants exercised of $3,710,166 was reclassified into additional paid-in capital. | |
Dividends on the Series A 8% Convertible Preferred Stock accrued at an annual rate of 8% of the original issue price and were payable in either cash or common stock. If the dividend was paid in common stock, the number of shares of common stock equaled the quotient of the amount of cash dividends divided by the market price of the stock on the dividend payment date. The dividends were payable quarterly on the 15th day after the quarter-end. The Company paid the dividends in common stock although was required to pay the initial dividends due in cash. The Company had a deficit and, as a result, the dividends were recorded against additional paid-in capital. At March 31, 2013, the Company recognized dividends of $29,063 which are included in dividends on preferred stock on the consolidated statement of operations and were paid in April 2013. At March 31, 2014, the Company recognized no dividends because of the full conversion of preferred stock to common stock as of January 15, 2014. | |
In January 2014, there were 33,334 shares of the Company’s Series A 8% Convertible Preferred Stock that converted into 33,334 shares of the Company’s common stock. At January 15, 2014, there were no shares of Series A 8% Convertible Preferred Stock outstanding. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Stock-Based Compensation | ' |
5. Stock-Based Compensation | |
One employee of the Company exercised 25,000 options at an exercise price of $0.95 per share of common stock for $23,750, 14,248 options at an exercise price of $0.75 per share of common stock for $10,686 and 600,000 options at an exercise price of $0.93 per share of common stock for $558,000 during the three months ended March 31, 2014. Another employee of the Company exercised 300,000 options at an exercise price of $1.10 per share of common stock for $330,000 during the three months ended March 31, 2014. Another employee of the Company exercised 189,624 options at an exercise price of $1.10 per share of common stock for $208,586 during the three months ended March 31, 2014. One employee of the Company forfeited 300,000 stock options on February 26, 2014. |
Related_Party_Transaction
Related Party Transaction | 3 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transaction | ' |
6. Related Party Transaction | |
The Company paid one non-employee member of the board $6,000 for the expanded access protocol oversight performed as of March 31, 2014. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
7. Fair Value of Financial Instruments | |||||||||||||||||
The FASB’s authoritative guidance on fair value measurements establishes a framework for measuring fair value, and expands disclosure about fair value measurements. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. Under this guidance, assets and liabilities carried at fair value must be classified and disclosed in one of the following three categories: | |||||||||||||||||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. | |||||||||||||||||
Level 3: Unobservable inputs that are not corroborated by market data. | |||||||||||||||||
In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are measured and reported on a fair value basis. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3. The fair value of certain of the Company’s financial instruments, including cash and cash equivalents and accounts payable, approximates the carrying value due to the relatively short maturity of such instruments. The fair value of derivative instruments is determined by management with the assistance of an independent third party valuation specialist. The warrant liability is a derivative instrument and is classified as Level 3. The Company used the Monte-Carlo Simulation model to estimate the fair value of the warrants. Significant assumptions used at March 31, 2014 for the 2010 warrants include a weighted average term of 0.9 years, a 5% probability that the warrant exercise price would be reset, volatility range of 66.5% to 129.7% and a risk free interest rate of 0.13%. Significant assumptions used at March 31, 2014 for the 2011 warrants include a weighted average term of 1.8 years, a 5% probability that the warrant exercise price would be reset, volatility of 101.8% and a risk free interest rate of 0.29%. Significant assumptions used at March 31, 2014 for the 2013 warrants include a weighted average term of 3.9 years, a 5% probability that the warrant exercise price would be reset, volatility of 84.7% and a risk free interest rate range of 0.77% to 1.32%. | |||||||||||||||||
The warrant liability measured at fair value on a recurring basis is as follows: | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Derivative instruments: | |||||||||||||||||
Warrant liability at March 31, 2014 | $ | 5,436,056 | $ | — | $ | — | $ | 5,436,056 | |||||||||
Warrant liability at December 31, 2013 | $ | 12,866,572 | $ | — | $ | — | $ | 12,866,572 | |||||||||
A reconciliation of the warranty liability measured at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) from January 1, 2014 to March 31, 2014 is as follows: | |||||||||||||||||
Balance at January 1, 2014 | $ | 12,866,572 | |||||||||||||||
Issuance of warrants | — | ||||||||||||||||
Change in fair value of warrants included in earnings | 2,287,033 | ||||||||||||||||
Exercise of warrants | (9,717,549 | ) | |||||||||||||||
Balance at March 31, 2014 | $ | 5,436,056 | |||||||||||||||
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
8. Subsequent Events | |
The Company has evaluated subsequent events through the date of the filing of these financial statements. In April 2014, the Company completed a private offering of common stock and warrants to accredited investors for gross proceeds of $4,342,250. The Company accepted subscriptions, in the aggregate, for 1,736,900 shares of common stock and five year warrants to purchase 1,736,900 shares of common stock. Investors received five year fully vested warrants to purchase up to 100% of the number of shares purchased by the investors in the offering. The warrants have an exercise price of $3.00 per share. The purchase price for each share of common stock together with the warrants was $2.50. The Company plans to use the proceeds for working capital and other general corporate purposes. Network 1 Financial Securities, Inc. served as placement agent for the offering. In connection with the offering, the Company paid $564,493 and issued five year fully vested warrants to purchase 260,535 shares of common stock with an exercise price of $2.50 to Network 1 Financial Securities, Inc., which represents 15% of the total number of shares of common stock sold to investors solicited by Network 1 Financial Securities, Inc. | |
On April 30, 2014, the Company entered into a Controlled Equity OfferingSM Sales Agreement with Cantor Fitzgerald & Co., as sales agent (“Cantor”), under which the Company may issue and sell shares of its common stock having an aggregate offering proceeds of up to $50,000,000 from time to time through Cantor, acting as sales agent. |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Warrant Liability Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||
The warrant liability measured at fair value on a recurring basis is as follows: | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Derivative instruments: | |||||||||||||||||
Warrant liability at March 31, 2014 | $ | 5,436,056 | $ | — | $ | — | $ | 5,436,056 | |||||||||
Warrant liability at December 31, 2013 | $ | 12,866,572 | $ | — | $ | — | $ | 12,866,572 | |||||||||
Reconciliation of the Warranty Liability Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||
A reconciliation of the warranty liability measured at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) from January 1, 2014 to March 31, 2014 is as follows: | |||||||||||||||||
Balance at January 1, 2014 | $ | 12,866,572 | |||||||||||||||
Issuance of warrants | — | ||||||||||||||||
Change in fair value of warrants included in earnings | 2,287,033 | ||||||||||||||||
Exercise of warrants | (9,717,549 | ) | |||||||||||||||
Balance at March 31, 2014 | $ | 5,436,056 | |||||||||||||||
Recapitalization_and_Merger_Ad
Recapitalization and Merger - Additional Information (Detail) | 0 Months Ended |
Apr. 23, 2002 | |
Business Combinations [Abstract] | ' |
Common stock shares issued | 6,680,000 |
Basic_and_Diluted_Loss_Per_Com1
Basic and Diluted Loss Per Common Share - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Warrants [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Common shares excluded from the calculation | 58,090,500 | 43,169,822 |
Stock Options [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Common shares excluded from the calculation | 13,893,334 | 15,140,956 |
8% Convertible Preferred Stock [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Common shares excluded from the calculation | 0 | 5,285,186 |
Equity_Transactions_Additional
Equity Transactions - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 146 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||||||||||
Jan. 15, 2014 | Jan. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Apr. 30, 2010 | Mar. 31, 2010 | Mar. 31, 2014 | Mar. 31, 2013 | Feb. 28, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | |
Seriesa Warrants [Member] | Series C Warrants [Member] | Series A and Series C Warrants [Member] | Common Stock [Member] | Common Stock [Member] | 8% Convertible Preferred Stock [Member] | 8% Convertible Preferred Stock [Member] | Warrants [Member] | Warrants [Member] | Series A 8% Convertible Preferred Stock [Member] | Series A 8% Convertible Preferred Stock [Member] | Series A 8% Convertible Preferred Stock [Member] | Warrant A [Member] | Warrant A [Member] | ||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to consultants | ' | ' | 75,000 | 75,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consulting costs charges | ' | ' | ' | ' | ' | ' | ' | ' | $137,500 | $48,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of warrants to consultants | ' | ' | 733,000 | 1,924,973 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consulting costs charges related to warrants | ' | ' | 900,317 | 409,640 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants forfeited | ' | ' | 121,500 | 859,833 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercised on cashless basis | ' | ' | 12,522,198 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued in cashless exercise | ' | ' | 9,100,824 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercised | ' | ' | 3,036,218 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of warrants | ' | ' | 2,672,364 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock to be issued on exercise of warrant | ' | ' | 3,036,218 | ' | 3,036,218 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain loss on revaluation of warrants liability | ' | ' | 1,153,835 | 311,062 | ' | ' | ' | ' | ' | ' | ' | ' | 211,422 | 446,698 | ' | ' | ' | 921,776 | 165,750 |
Warrants series exercised | ' | ' | ' | ' | ' | 858,825 | 697,092 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjusted fair value of warrants exercised | ' | ' | ' | ' | ' | ' | ' | 3,911,370 | ' | ' | ' | ' | 2,096,013 | ' | ' | 3,710,166 | ' | ' | ' |
Convertible preferred stock | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | 8.00% | 8.00% | ' | ' | 8.00% | ' | ' | ' | ' |
Issued warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,756,665 | ' | ' | 1,650,000 | ' | ' | ' |
Fair value of the warrants | ' | ' | ' | 1,297,950 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beneficial conversion amount | ' | ' | ' | 1,025,950 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends on preferred stock | ' | ' | ' | $1,076,934 | $12,026,710 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $29,063 | ' | ' |
Converted preferred stock | 0 | 33,334 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock converted into shares | ' | 33,334 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | ||||
Feb. 26, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
Options Exercised Price One [Member] | Options Exercised Price One [Member] | Options Exercised Price One [Member] | Options Exercised Price Two [Member] | Options Exercised Price Three [Member] | ||
Employee One [Member] | Employee Two [Member] | Employee Three [Member] | Employee One [Member] | Employee One [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Number of options exercised at an exercise price | ' | 25,000 | 300,000 | 189,624 | 14,248 | 600,000 |
Exercise price/share | ' | $0.95 | $1.10 | $1.10 | $0.75 | $0.93 |
Common stock-value | ' | $23,750 | $330,000 | $208,586 | $10,686 | $558,000 |
Number of Shares forfeited | 300,000 | ' | ' | ' | ' | ' |
Related_Party_Transaction_Addi
Related Party Transaction - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
NonEmployee | |
Related Party Transactions [Abstract] | ' |
Payment for expanded access protocol | $6,000 |
Number of non employee to whom consulting services paid | 1 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2014 | |
2010 Warrants [Member] | ' |
Class of Stock [Line Items] | ' |
Weighted average term | '10 months 24 days |
Warrant exercise price probability | 5.00% |
Risk free interest rate | 0.13% |
2010 Warrants [Member] | Minimum [Member] | ' |
Class of Stock [Line Items] | ' |
Percentage of volatility | 66.50% |
2010 Warrants [Member] | Maximum [Member] | ' |
Class of Stock [Line Items] | ' |
Percentage of volatility | 129.70% |
2011 Warrants [Member] | ' |
Class of Stock [Line Items] | ' |
Weighted average term | '1 year 9 months 18 days |
Warrant exercise price probability | 5.00% |
Percentage of volatility | 101.80% |
Risk free interest rate | 0.29% |
2013 Warrants [Member] | ' |
Class of Stock [Line Items] | ' |
Weighted average term | '3 years 10 months 24 days |
Warrant exercise price probability | 5.00% |
2013 Warrants [Member] | Minimum [Member] | ' |
Class of Stock [Line Items] | ' |
Risk free interest rate | 0.77% |
2013 Warrants [Member] | Maximum [Member] | ' |
Class of Stock [Line Items] | ' |
Percentage of volatility | 84.70% |
Risk free interest rate | 1.32% |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Warrant Liability Measured at Fair Value on a Recurring Basis (Detail) (Recurring [Member], Warrants [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Warrant liability | $5,436,056 | $12,866,572 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Warrant liability | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Warrant liability | ' | ' |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Warrant liability | $5,436,056 | $12,866,572 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Reconciliation of the Warranty Liability Measured at Fair Value on a Recurring Basis (Detail) (Recurring [Member], Level 3 [Member], Warrants [Member], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Recurring [Member] | Level 3 [Member] | Warrants [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Beginning Balance | $12,866,572 |
Issuance of warrants | ' |
Change in fair value of warrants included in earnings | 2,287,033 |
Exercise of warrants | -9,717,549 |
Ending Balance | $5,436,056 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||
Network 1 Financial Securities [Member] | Cantor Fitzgerald & Co [Member] | |||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Gross proceeds from private offering of common stock and warrants to accredited investors | ' | $4,342,250 | ' | ' |
Aggregate subscriptions accepted | ' | 1,736,900 | ' | ' |
Expiration of warrants | ' | '5 years | ' | ' |
Warrant Exercise Price | ' | $3 | $2.50 | ' |
Reduced price of warrants exercised | ' | 2.5 | ' | ' |
Payment of fully vested warrant | ' | ' | 564,493 | ' |
Common stock to be issued on exercise of warrant | 3,036,218 | ' | 260,535 | ' |
Percentage of Aggregate Shares Called by Warrant | ' | ' | 15.00% | ' |
Common stock, aggregate offering proceeds | ' | ' | ' | $50,000,000 |