Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Mar. 11, 2014 | Jun. 30, 2013 | Dec. 31, 2012 | Nov. 19, 2010 | |
Document Information [Line Items] | ' | ' | ' | ' | ' |
Entity Registrant Name | 'NeoStem, Inc. | ' | ' | ' | ' |
Entity Central Index Key | '0000320017 | ' | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' | ' | ' |
Document Type | '10-K | ' | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 28,582,625 | ' | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' | ' |
Entity Public Float | ' | ' | $92,272,275 | ' | ' |
Sale of Stock, Price Per Share | ' | ' | $5.60 | ' | $0.95 |
percent of outstanding common stock | ' | ' | 10.00% | ' | ' |
Common Stock, Par Value | $0.00 | $0.00 | ' | $0.00 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current Assets | ' | ' |
Cash and cash equivalents | $46,133,759 | $13,737,452 |
Accounts receivable trade, net of allowance for doubtful accounts of $391,829 and $626,054, respectively | 1,860,835 | 1,053,604 |
Inventory | 1,270,223 | 1,113,025 |
Prepaids and other current assets | 1,561,933 | 803,135 |
Total current assets | 50,826,750 | 16,707,216 |
Property, plant and equipment, net | 12,844,216 | 11,153,143 |
Goodwill | 11,117,770 | 11,117,770 |
Intangible assets, net | 13,875,617 | 14,480,827 |
Other assets | 1,151,729 | 947,307 |
Assets, Total | 89,816,082 | 54,406,263 |
Current Liabilities | ' | ' |
Accounts payable | 3,354,908 | 2,555,240 |
Accrued liabilities | 4,018,026 | 2,284,813 |
Notes payable | 381,097 | 202,558 |
Mortgages payable | 213,112 | 3,438,475 |
Derivative Liabilities, Current | 23,175 | 0 |
Unearned revenues | 1,816,601 | 1,468,341 |
Total current liabilities | 9,806,919 | 9,949,427 |
Deferred income taxes | 4,379,226 | 3,599,122 |
Notes payable | 531,164 | 171,528 |
Long-term Debt | 3,023,609 | 0 |
Derivative liabilities | 0 | 101,156 |
Acquisition-related contingent consideration | 9,450,000 | 7,550,000 |
Other long-term liabilities | 598,729 | 214,871 |
Total liabilities | 27,789,647 | 21,586,104 |
Commitments and Contingencies | ' | ' |
Stockholders' Equity | ' | ' |
Preferred stock; authorized, 20,000,000 shares Series B convertible redeemable preferred stock liquidation value, 1 share of common stock, $.01 par value; 825,000 shares designated; issued and outstanding, 10,000 shares at December 31, 2013 and December 31, 2012 | 100 | 100 |
common stock, $.001 par value, authorized 500,000,000 shares; issued and outstanding, 27,196,537 and 16,375,365 shares, at December 31, 2013 and December 31, 2012, respectively | 27,197 | 16,375 |
Additional paid-in capital | 299,594,525 | 231,218,615 |
Treasury stock, at cost | -705,742 | -665,600 |
Accumulated deficit | -236,373,605 | -197,392,361 |
Total NeoStem, Inc. stockholders' equity | 62,542,475 | 33,177,129 |
Noncontrolling interests | -516,040 | -356,970 |
Total equity | 62,026,435 | 32,820,159 |
Liabilities and Equity, Total | $89,816,082 | $54,406,263 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts receivable trade, net of allowance for doubtful accounts | $391,829 | $626,054 |
Convertible Redeemable Series E Preferred Stock, shares designated | 0 | 0 |
Convertible Redeemable Series E Preferred Stock, liquidation value per share | $0 | $0 |
Convertible Redeemable Series E Preferred Stock, issued | 0 | 0 |
Convertible Redeemable Series E Preferred Stock, outstanding | 3,135,411 | 6,662,748 |
Preferred Stock, authorized | 20,000,000 | 20,000,000 |
Series B convertible redeemable preferred stock liquidation value, 1 share of common stock, par value | 1 | 1 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares designated | 825,000 | 825,000 |
Preferred stock, issued | 10,000 | 10,000 |
Preferred Stock, Shares Outstanding | 10,000 | 10,000 |
Common Stock, Par Value | $0.00 | $0.00 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 27,196,537 | 16,375,365 |
Common Stock, Shares, Outstanding | 27,196,537 | 16,375,365 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Revenues | $14,668,455 | $14,329,889 |
Cost of revenues | 12,947,217 | 11,949,124 |
Gross profit | 1,721,238 | 2,380,765 |
Research and development | 16,917,396 | 10,451,070 |
Selling, general, and administrative | 21,612,793 | 22,315,346 |
Operating Expenses | 38,530,189 | 32,766,416 |
Operating loss | -36,808,951 | -30,385,651 |
Other income (expense): | ' | ' |
Other (expense) income, net | -1,614,858 | -4,314,228 |
Interest expense | -281,421 | -1,576,975 |
Nonoperating Income (Expense), Total | -1,896,279 | -5,891,203 |
Loss from operations before provision for income taxes and noncontrolling interests | -38,705,230 | -36,276,854 |
Provision (benefit) for income taxes | 780,104 | -175,533 |
Net loss from continuing operations | -39,485,334 | -36,101,321 |
Loss from discontinued operations - net | 0 | -30,267,990 |
Net loss | -39,485,334 | -66,369,311 |
Less - loss from continuing operations attributable to noncontrolling interests | -504,090 | -287,181 |
Less - loss from discontinued operations attributable to noncontrolling interests | 0 | -12,312,646 |
Net loss attributable to NeoStem, Inc. | -38,981,244 | -53,769,484 |
Warrant inducements | 0 | -1,012,819 |
Preferred dividends | ' | -528,023 |
Amounts Attributable to NeoStem, Inc. common shareholders: | ' | ' |
Loss from continuing operations | -38,981,244 | -35,814,140 |
Loss from discontinued operations - net of taxes | 0 | -17,955,344 |
Warrant inducements | 0 | -1,012,819 |
Preferred dividends | 0 | -528,023 |
Net loss attributable to NeoStem, Inc. common stockholders | ($38,981,244) | ($55,310,326) |
Basic and diluted (loss) per share attributable to: | ' | ' |
Continuing operations | ($1.90) | ($2.59) |
Discontinued operations | $0 | ($1.30) |
NeoStem, Inc. common stockholders | ($1.90) | ($4) |
Weighted average common shares outstanding | 20,495,771 | 13,841,997 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive income (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Net loss | ($39,485,334) | ($66,369,311) |
Other comprehensive income (loss): | ' | ' |
Foreign currency translation elimination on exit of segment | 0 | -169,993 |
Foreign currency translation elimination on sale of segment | 0 | -4,387,371 |
Foreign currency translation | 0 | 405,021 |
Total other comprehensive (loss) income | 0 | -4,152,343 |
Comprehensive loss | -39,485,334 | -70,521,654 |
Noncontrolling interests elimination on sale of segment | 0 | -6,014,981 |
Comprehensive loss attributable to noncontrolling interests | -504,090 | -12,448,950 |
Comprehensive net loss attributable to NeoStem, Inc. common stockholders | ($38,981,244) | ($52,057,723) |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | Total | Convertible Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] | Total NeoStem, Inc. Shareholders' Equity [Member] | Non-Controlling Interest in Subsidiary [Member] |
Beginning Balance at Dec. 31, 2011 | $80,132,518 | $100 | $10,933 | $200,957,035 | $4,152,343 | ($143,094,854) | $0 | $62,025,557 | $18,106,961 |
Beginning Balance (in shares) at Dec. 31, 2011 | ' | 10,000 | 10,932,959 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -66,369,311 | ' | ' | ' | ' | -53,769,484 | ' | -53,769,484 | -12,599,827 |
Foreign currency translation | 385,905 | ' | ' | ' | 235,028 | ' | ' | 235,028 | 150,877 |
Share-based compensation (in shares) | ' | ' | 336,427 | ' | ' | ' | ' | ' | ' |
Share-based compensation | 6,712,536 | ' | 336 | 6,712,200 | ' | ' | ' | 6,712,536 | ' |
Proceeds from issuance of common stock (in shares) | ' | ' | 3,573,229 | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common stock | 16,428,827 | ' | 3,573 | 16,425,254 | ' | ' | ' | 16,428,827 | ' |
Net proceeds from exercise of options | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from warrant exercises (in shares) | ' | ' | 1,107,618 | ' | ' | ' | ' | ' | ' |
Proceeds from warrant exercises | 6,604,419 | ' | 1,108 | 6,603,311 | ' | ' | ' | 6,604,419 | ' |
Shares, options and warrants received in Erye Sale | -1,117,901 | ' | ' | -452,301 | ' | ' | -665,600 | -1,117,901 | ' |
Elimination of Equity upon Erye Sale | -10,402,352 | ' | ' | 0 | -4,387,371 | ' | ' | -4,387,371 | -6,014,981 |
Repayment of Series E Preferred Principal and Dividends (in shares) | ' | ' | 279,238 | ' | ' | ' | ' | ' | ' |
Repayment of Series E Preferred Principal and Dividends | 674,194 | ' | 279 | 1,201,938 | ' | 528,023 | ' | 674,194 | ' |
Warrant inducements | 41,969 | ' | 145,895 | ' | ' | ' | ' | ' | ' |
Warrant inducements | -228,676 | ' | -146 | -228,822 | ' | ' | ' | -228,676 | ' |
Ending Balance at Dec. 31, 2012 | 32,820,159 | 100 | 16,375 | 231,218,615 | 0 | -197,392,361 | -665,600 | 33,177,129 | -356,970 |
Ending Balance (in shares) at Dec. 31, 2012 | ' | 10,000 | 16,375,365 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -39,485,334 | ' | ' | ' | ' | -38,981,244 | ' | -38,981,244 | -504,090 |
Share-based compensation (in shares) | ' | ' | 513,912 | ' | ' | ' | ' | ' | ' |
Share-based compensation | 6,838,559 | ' | 514 | 6,878,187 | ' | ' | 40,142 | 6,838,559 | ' |
Proceeds from issuance of common stock (in shares) | ' | ' | 9,712,724 | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common stock | 58,736,166 | ' | 9,713 | 58,726,453 | ' | ' | ' | 58,736,166 | ' |
Proceeds from option exercises, shares | ' | ' | 31,369 | ' | ' | ' | ' | ' | ' |
Net proceeds from exercise of options | 150,658 | ' | 31 | 150,627 | ' | ' | ' | 150,658 | ' |
Proceeds from warrant exercises (in shares) | ' | ' | 563,167 | ' | ' | ' | ' | ' | ' |
Proceeds from warrant exercises | 3,028,241 | ' | 564 | 3,027,677 | ' | ' | ' | 3,028,241 | ' |
Warrant inducements | 40,407 | ' | 0 | ' | ' | ' | ' | ' | ' |
Warrant inducements | -62,014 | ' | 0 | -62,014 | ' | ' | ' | -62,014 | ' |
Change in Ownership in Subsidiary | ' | ' | ' | -345,020 | ' | ' | ' | -345,020 | 345,020 |
Ending Balance at Dec. 31, 2013 | $62,026,435 | ' | $27,197 | $299,594,525 | $0 | ($236,373,605) | ($705,742) | $62,542,475 | ($516,040) |
Ending Balance (in shares) at Dec. 31, 2013 | ' | 10,000 | 27,196,537 | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Cash flows from operating activities: | ' | ' |
Net loss | ($39,485,334) | ($66,369,311) |
Loss from discontinued operations | 0 | 30,267,990 |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Common stock, stock options and warrants issued as payment for compensation, services rendered and interest expense | 6,838,559 | 6,712,536 |
Depreciation and amortization | 1,605,608 | 1,550,571 |
Amortization of preferred stock discount and issuance cost | 0 | 1,609,495 |
Changes in fair value of derivative liability | -77,981 | -373,307 |
Changes in acquisition-related contingent consideration | 1,900,000 | 4,420,000 |
Loss on disposal of assets | 0 | 13,653 |
Bad debt (recovery) expense | -234,225 | 511,755 |
Deferred income taxes | 780,104 | -175,533 |
Prepaid expenses and other current assets | -758,798 | -178,011 |
Accounts receivable | -573,005 | -554,884 |
Inventory | -157,198 | -465,280 |
Unearned revenues | 348,260 | 178,008 |
Other assets | -204,422 | 2,414,842 |
Accounts payable, accrued expenses and other liabilities | 2,916,739 | 1,677,551 |
Net cash used in operating activities - continuing operations | -27,101,693 | -18,759,925 |
Net cash provided by operating activities - discontinued operations | 0 | 4,907,407 |
Net cash used in operating activities | -27,101,693 | -13,852,518 |
Cash flows from investing activities: | ' | ' |
Cash received in divestiture | 0 | 12,280,000 |
Acquisition of property and equipment | -2,691,471 | -531,315 |
Net cash provided by (used in) investing activities - continuing operations | -2,691,471 | 11,748,685 |
Net cash used in investing activities - discontinued operations | 0 | -5,660,305 |
Net cash provided by (used in) investing activities | -2,691,471 | 6,088,380 |
Cash flows from financing activities: | ' | ' |
Net proceeds from exercise of options | 150,658 | 0 |
Net proceeds from exercise of warrants | 3,028,241 | 6,604,418 |
Net proceeds from issuance of capital stock | 58,736,165 | 16,428,827 |
Repayment of mortgage loan | -201,754 | -196,585 |
Proceeds from notes payable | 1,041,347 | 666,501 |
Repayment of notes payable | -503,172 | -440,477 |
Repayment of preferred stock | 0 | -5,394,263 |
Payment of dividend for preferred stock | 0 | -327,748 |
Payment for warrant inducement | -62,014 | -228,676 |
Net cash provided by financing activities - continuing operations | 62,189,471 | 17,111,997 |
Net cash used in provided by financing activities - discontinued operations | 0 | -8,370,228 |
Net cash provided by financing activities | 62,189,471 | 8,741,769 |
Impact of changes of foreign exchange rates | 0 | 14,389 |
Net increase in cash and cash equivalents | 32,396,307 | 992,020 |
Cash and cash equivalents at beginning of period | 13,737,452 | 12,745,432 |
Cash and cash equivalents at end of period | 46,133,759 | 13,737,452 |
Cash paid during the period for: | ' | ' |
Interest | 274,100 | 1,771,800 |
Taxes | 0 | 2,100,000 |
Supplemental Schedule of non-cash investing activities: | ' | ' |
Capitalized interest | 0 | 182,000 |
Common stock, warrants and options received upon sale of Erye | 0 | 1,117,901 |
Supplemental schedule of non-cash financing activities | ' | ' |
Common stock issued pursuant to the redemption of Convertible Redeemable Series E 7% Preferred Stock | 0 | 1,026,600 |
Common stock issued in payment of dividends for the Convertible Redeemable Series E 7% Preferred Stock | $0 | $175,700 |
The_Business
The Business | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
The Business [Abstract] | ' | ||||
Nature of Operations [Text Block] | ' | ||||
The Business | |||||
Overview | |||||
NeoStem, Inc. (“we,” “NeoStem” or the “Company”) is a leader in the emerging cellular therapy industry. We are pursuing the preservation and enhancement of human health globally through the development of cell based therapeutics that prevent, treat or cure disease by repairing and replacing damaged or aged tissue, cells and organs and restoring their normal function. We believe that cell therapy will play a large role in changing the natural history of diseases as more breakthrough therapies are developed, ultimately lessening the overall burden of disease on patients and their families as well as the economic burden that these diseases impose upon modern society. | |||||
Our business includes the development of novel proprietary cell therapy products as well as a revenue generating contract development and manufacturing service business that we not only leverage for the development of our therapeutics but anticipate will benefit from the advancement in the regenerative medicine industry. The combination of our own therapeutic development business and a revenue-generating service provider business provides the Company with unique capabilities for cost effective in-house product development and immediate revenue and cash flow generation. | |||||
We are developing therapies to address ischemia through our CD34 Cell Program. Ischemia occurs when the supply of oxygenated blood in the body is restricted. We seek to reverse this restriction through the development and formation of new blood vessels. AMR-001 is our most clinically advanced product candidate in our CD34 Cell Program and is being developed to treat damaged heart muscle following an acute myocardial infarction (heart attack) ("AMI"). In December 2013, the Company completed enrollment in its PreSERVE AMI study. PreSERVE AMI is a randomized, double-blinded, placebo-controlled Phase 2 clinical trial testing AMR-001, an autologous (donor and recipient are the same) adult stem cell product for the treatment of patients with left ventricular dysfunction following acute ST segment elevation myocardial infarction (STEMI). With infusion of the target population of 160 patients complete, the last patient primary endpoint follow-up for this study is expected in June 2014 followed by data lock and analysis with a submission for a possible presentation of the study at the American Heart Association's Scientific Sessions to be held November 15-19, 2014. If approved by Food and Drug Administration (the "FDA ") and/or other worldwide regulatory agencies following successful completion of further trials, AMR-001 would address a significant medical need for which there is currently no effective treatment, potentially improving longevity and quality of life for those suffering a STEMI, and positioning the Company to capture a meaningful share of this worldwide market. We also expect to initiate a Phase 2 clinical trial for chronic heart failure in Europe in 2014 and are conducting preclinical studies in traumatic brain injury for which we expect data in the second half of 2014. | |||||
Another platform technology we are developing utilizes T Regulatory Cells ("Tregs") to treat diseases caused by imbalances in the immune system. In collaborating with Becton-Dickinson and the University of California, San Francisco, we are utilizing this technology platform of our majority-owned subsidiary, Athelos Corporation ("Athelos"), to restore immune balance by enhancing Treg cell number and function. Tregs are a natural part of the human immune system and regulate the activity of T effector cells, the cells that are responsible for protecting the body from viruses and other foreign antigen exposure. When Tregs function properly, only foreign materials are attacked by T effector cells. In autoimmune disease it is thought that deficient Treg activity permits the T effector cells to attack the body's own tissues. We plan to initiate a Phase 2 study of Treg based therapeutics to treat type 1 diabetes in 2014. We also plan to initiate a Phase 1 study in Canada of Treg based therapeutics in support of a steroid resistant asthma indication in 2014. | |||||
Pre-clinical assets include our VSEL TM (Very Small Embryonic Like) Technology regenerative medicine platform. Regenerative medicine holds the promise of improving clinical outcomes and reducing overall healthcare costs. We are working on a Department of Defense funded study of VSELsTM for the treatment of chronic wounds. Other preclinical work with VSELsTM includes exploring macular degeneration as a target indication. | |||||
Progenitor Cell Therapy, LLC ("PCT") is a contract manufacturer that generates revenue. This wholly owned subsidiary, which we acquired in 2011, is an industry leader in providing high quality manufacturing capabilities and support to developers of cell-based therapies to enable them to improve efficiencies and profitability and reduce capital investment for their own development activities. Since its inception more than 15 years ago, PCT has provided pre-clinical and clinical current Good Manufacturing Practice (“cGMP”) development and manufacturing services to more than 100 clients. PCT has experience advancing regenerative medicine product candidates from product inception through rigorous quality standards all the way through to human testing, Biologic License Application ("BLA") filing and FDA product approval. PCT's core competencies in the cellular therapy industry include manufacturing of cell therapy-based products, engineering and innovation services, product and process development, cell and tissue processing, regulatory support, storage, distribution and delivery and consulting services. PCT has two cGMP, state-of-the art cell therapy research, development, and manufacturing facilities in New Jersey and California, serving the cell therapy community with integrated and regulatory compliant distribution capabilities. The Company is pursuing commercial expansion of our manufacturing operations both in the U.S. and internationally. | |||||
Effective March 31, 2012, we no longer operated in the former Regenerative Medicine – China segment, which is now reported in discontinued operations (see Note 15). On November 13, 2012, we completed the sale of our 51% interest in Suzhou Erye, which represented the operations in our former Pharmaceutical Manufacturing - China segment, and is also reported in discontinued operations (see Note 15). As a result, we currently operate in a single reporting segment - Cell Therapy, which will focus on contract development and manufacturing and cell therapy development programs. | |||||
We believe that NeoStem is ideally positioned to lead the cell therapy industry. | |||||
Basis of Presentation | |||||
The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles”) and include the accounts of the Company and its wholly owned and partially owned subsidiaries, the operations of our former Regenerative Medicine - China segment through the deconsolidation date on March 31, 2012 (see Note 15), and the operations of our former Pharmaceutical Manufacturing - China segment through November 13, 2012, the date on which the segment was sold (see Note 15). These former segments are reported in discontinued operations. In the opinion of management, the accompanying Consolidated Financial Statements of the Company and its subsidiaries, include all normal and recurring adjustments considered necessary to present fairly the Company's financial position as of December 31, 2013 and 2012, and the results of its operations and its cash flows for the years then ended. | |||||
Use of Estimates | |||||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. Examples of estimates include the fair value of goodwill and/or potential goodwill impairments for our reporting units, useful lives of our tangible and intangible assets, allowances for doubtful accounts, and stock-based compensation forfeiture rates. An example of an assumption includes the potential outcome of future tax consequences of events that have been recognized in our financial statements or tax returns. Accordingly, actual results could differ from those estimates and assumptions. | |||||
Reclassifications | |||||
Certain reclassifications have been made to the Consolidated Financial Statements and Notes to the Consolidated Financial Statements for the year ended December 31, 2012 to conform to the presentation for the year ended December 31, 2013. | |||||
Principles of Consolidation | |||||
The Consolidated Financial Statements include the accounts of NeoStem, Inc. and its wholly owned and partially owned subsidiaries and affiliates as listed below, as well as the operations of our former Regenerative Medicine - China segment through the deconsolidation date on March 31, 2012 (see Note 15), and the operations of our former Pharmaceutical Manufacturing - China segment through November 13, 2012, representing the date which the segment was sold (see Note 15). These former segments are reported in discontinued operations. | |||||
Entity | Percentage of Ownership | Location | |||
NeoStem, Inc. | Parent Company | United States of America | |||
NeoStem Therapies, Inc. | 100% | United States of America | |||
Stem Cell Technologies, Inc. | 100% | United States of America | |||
Amorcyte, LLC | 100% | United States of America | |||
Progenitor Cell Therapy, LLC (PCT) | 100% | United States of America | |||
NeoStem Family Storage, LLC | 100% | United States of America | |||
Athelos Corporation (1) | 88.50% | United States of America | |||
PCT Allendale, LLC | 100% | United States of America | |||
(1) Pursuant to the Stock Purchase Agreement signed in March 2011, our initial ownership in Athelos was 80.1%, and Becton Dickinson's ("BD") initial minority ownership was 19.9%. Per the Agreement, BD will be diluted based on new investment in Athelos by us (subject to certain anti-dilution provisions). As of December 31, 2013, BD's ownership interest in Athelos was decreased to 11.5%, and our ownership increased to 88.5%. As a result in the change in ownership, approximately $0.3 million was transferred from additional paid in capital to non-controlling interests. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Summary of Significant Accounting Policies [Abstract] | ' | |
Summary of Significant Accounting Policies [Text Block] | ' | |
Summary of Significant Accounting Policies | ||
Cash and Cash Equivalents | ||
Cash and cash equivalents include short-term, highly liquid, investments with maturities of ninety days or less when purchased. | ||
Concentration of Risks | ||
For the year ended December 31, 2013, two customers represented 19% and 11%, respectively, of total revenues recognized. | ||
Accounts Receivable | ||
Accounts receivable are carried at original invoice amount less an estimate made for doubtful accounts. The Company applies judgment in connection with establishing the allowance for doubtful accounts. Specifically, the Company analyzes the aging of accounts receivable balances, historical bad debts, customer concentration and credit-worthiness, current economic trends and changes in the Company’s customer payment terms. Significant changes in customer concentrations or payment terms, deterioration of customer credit-worthiness or weakening economic trends could have a significant impact on the collectability of the receivables and the Company’s operating results. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. Management regularly reviews the aging of receivables and changes in payment trends by its customers, and records a reserve when it believes collection of amounts due are at risk. | ||
Inventories | ||
The Company, through its PCT subsidiary, regularly enters into contracts with clients for services that have multiple stages and are dependent on one another to complete the contract and recognize revenue. The Company's inventory represents work in process for costs incurred on such projects at PCT that have not been completed. The Company reviews these projects periodically to determine that the value of each project is stated at the lower of cost or market. | ||
Property, Plant, and Equipment | ||
The cost of property, plant and equipment is depreciated over the estimated useful lives of the related assets. Depreciation is computed on the straight-line method. Repairs and maintenance expenditures that do not extend original asset lives are charged to expense as incurred. The estimated useful lives of property, plant and equipment are as follows: | ||
Building and improvements | 25-30 years | |
Machinery and equipment | 8-12 years | |
Lab equipment | 5-7 years | |
Furniture and fixtures | 5-12 years | |
Software | 3-5 years | |
Leasehold improvements | Life of lease | |
Goodwill and Other Intangible Assets | ||
Goodwill is the excess of purchase price over the fair value of identified net assets of businesses acquired. The Company’s intangible assets with an indefinite life are related to in process research and development ("IPR&D") for AMR-001, the clinical candidate acquired in the Amorcyte acquisition, as the Company expects this research and development to provide the Company with substantial benefit for a period that extends beyond the foreseeable horizon. Intangible assets with indefinite useful lives are measured at their respective fair values as of the acquisition date. The Company does not amortize goodwill and intangible assets with indefinite useful lives. Intangible assets related to IPR&D projects are considered to be indefinite-lived until the completion or abandonment of the associated R&D efforts. If and when development is complete, which generally occurs if and when regulatory approval to market a product is obtained, the associated assets would be deemed finite-lived and would then be amortized based on their respective estimated useful lives at that point in time. | ||
The Company reviews goodwill and indefinite-lived intangible assets at least annually for possible impairment. Goodwill and indefinite-lived intangible assets are reviewed for possible impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. The Company tests its goodwill and indefinite-lived intangible assets each year on December 31. The Company reviews the carrying value of goodwill and indefinite-lived intangible assets utilizing a discounted cash flow model, and, where appropriate, a market value approach is also utilized to supplement the discounted cash flow model. The Company makes assumptions regarding estimated future cash flows, discount rates, long-term growth rates and market values to determine each reporting unit’s estimated fair value. If these estimates or related assumptions change in the future, the Company may be required to record impairment charges. In accordance with it's accounting policy, the Company tested goodwill for impairment as of December 31, 2013 and 2012 for its two reporting units, and concluded there was no risk of failing step 1 of the goodwill impairment testing evaluation. | ||
Amortized intangible assets consist of customer lists, manufacturing technology, and tradename, as well as patents and rights associated primarily with the VSEL™ Technology. These intangible assets are amortized on a straight line basis over their respective useful lives. | ||
Evaluation of Long-lived Assets | ||
The Company reviews long-lived assets and finite-lived intangibles assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset exceeds the fair value of the asset. If other events or changes in circumstances indicate that the carrying amount of an asset that the Company expects to hold and use may not be recoverable, the Company will estimate the undiscounted future cash flows expected to result from the use of the asset and/or its eventual disposition, and recognize an impairment loss. The impairment loss, if determined to be necessary, would be measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. No events were noted in 2013 or 2012. | ||
Recognizing and Measuring Assets Acquired and Liabilities Assumed in Business Combinations at Fair Value | ||
The Company accounts for acquired businesses using the purchase method of accounting, which requires that assets acquired and liabilities assumed be recorded at date of acquisition at their respective fair values. The consolidated financial statements and results of operations reflect an acquired business after the completion of the acquisition. The fair value of the consideration paid, including contingent consideration, is assigned to the underlying net assets of the acquired business based on their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Amounts allocated to IPR&D are included on the balance sheet . Intangible assets, including IPR&D assets upon successful completion of the project and approval of the product, are amortized on a straight-line basis to amortization expense over the expected life of the asset. Significant judgments are used in determining the estimated fair values assigned to the assets acquired and liabilities assumed and in determining estimates of useful lives of long-lived assets. Fair value determinations and useful life estimates are based on, among other factors, estimates of expected future net cash flows, estimates of appropriate discount rates used to present value expected future net cash flow streams, the timing of approvals for IPR&D projects and the timing of related product launch dates, the assessment of each asset’s life cycle, the impact of competitive trends on each asset’s life cycle and other factors. These judgments can materially impact the estimates used to allocate acquisition date fair values to assets acquired and liabilities assumed and the resulting timing and amount charged to, or recognized in current and future operating results. For these and other reasons, actual results may vary significantly from estimated results. | ||
The Company determines the acquisition date fair value of contingent consideration obligations based on a probability-weighted income approach derived from revenue estimates, post-tax gross profit levels and a probability assessment with respect to the likelihood of achieving contingent obligations including contingent payments such as milestone obligations, royalty obligations and contract earn-out criteria, where applicable. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in fair value measurement accounting. The resultant probability-weighted cash flows are discounted using an appropriate effective annual interest rate. At each reporting date, the contingent consideration obligation will be revalued to estimated fair value and changes in fair value will be reflected as income or expense in our consolidated statement of operations. Changes in the fair value of the contingent consideration obligations may result from changes in discount periods and rates, changes in the timing and amount of revenue estimates and changes in probability assumptions with respect to the likelihood of achieving the various contingent payment obligations. Changes in assumptions utilized in our contingent consideration fair value estimates could result in an increase or decrease in our contingent consideration obligation and a corresponding charge to operating loss. | ||
Share-Based Compensation | ||
The Company expenses all share-based payment awards to employees, directors, advisors and consultants, including grants of stock options, warrants, and restricted stock, over the requisite service period based on the grant date fair value of the awards. Advisor and consultant awards are remeasured each reporting period through vesting. For awards with performance-based vesting criteria, the Company estimates the probability of achievement of the performance criteria and recognizes compensation expense related to those awards expected to vest. The Company determines the fair value of certain share-based awards using the Black-Scholes option-pricing model which uses both historical and current market data to estimate the fair value. This method incorporates various assumptions such as the risk-free interest rate, expected volatility, expected dividend yield and expected life of the options or warrants. The fair value of the Company’s restricted stock and restricted stock units is based on the closing market price of the Company’s common stock on the date of grant. | ||
Loss Per Share | ||
Basic loss per share is based on the weighted effect of all common shares issued and outstanding, and is calculated by dividing net loss attributable to common stockholders by the weighted average shares outstanding during the period. Diluted loss per share, which is calculated by dividing net loss attributable to common stockholders by the weighted average number of common shares used in the basic loss per share calculation plus the number of common shares that would be issued assuming conversion of all potentially dilutive securities outstanding, is not presented as such potentially dilutive securities are anti-dilutive in all periods presented due to losses incurred. | ||
Derivatives | ||
Derivative instruments, including derivative instruments embedded in other contracts, are recorded on the balance sheet as either an asset or liability measured at its fair value. Changes in the fair value of derivative instruments are recognized currently in results of operations unless specific hedge accounting criteria are met. The Company has not entered into hedging activities to date. Changes in the derivative value are recorded as other income (expense) on the consolidated statements of operations. | ||
Income Taxes | ||
The Company recognizes (a) the amount of taxes payable or refundable for the current year and (b) deferred tax liabilities and assets for the future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. The Company continues to evaluate the accounting for uncertainty in tax positions. The guidance requires companies to recognize in their financial statements the impact of a tax position if the position is more likely than not of being sustained if the position were to be challenged by a taxing authority. The position ascertained inherently requires judgment and estimates by management. The Company recognizes interest and penalties as a component of income tax expense. | ||
Foreign Currency Translation | ||
Results of the the Company’s former Chinese operating segments were translated at the average exchange rates during the period, and assets and liabilities were translated at the closing rate at the end of each reporting period. Cash flows were also translated at average exchange rates for the period, therefore, amounts reported on the consolidated statement of cash flows did not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. | ||
Treasury Stock | ||
Treasury stock purchases are accounted for under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. Gains or losses on the subsequent reissuance of shares are credited or charged to additional paid in capital. | ||
Revenue Recognition | ||
Clinical Services: The Company recognizes revenue for its (i) cell process development and (ii) cell manufacturing services based on the terms of individual contracts. | ||
Revenues associated with cell process development services generally contain multiple stages that do not have stand-alone values and are dependent upon one another, and are recognized as revenue on a completed contract basis. We recognize revenues for cell development services when all of the following conditions are met: | ||
• | persuasive evidence of an arrangement exists; | |
• | delivery has occurred or the services have been rendered; | |
• | the fee is fixed or determinable; and | |
• | collectability is probable. | |
The Company considers signed contracts as evidence of an arrangement. The Company assesses whether the fee is fixed or determinable based on the payment terms associated with the transaction and whether the payment terms are subject to refund or adjustment. The Company assesses cash collectability based on a number of factors, including past collection history with the client and the client's creditworthiness. If the Company determines that collectability is not reasonably assured, it defers revenue recognition until collectability becomes reasonably assured, which is generally upon receipt of the cash. The Company's arrangements are generally non-cancellable, though clients typically have the right to terminate their agreement for cause if the Company materially fails to perform. | ||
Cell manufacturing services are generally distinct arrangements whereby the Company is paid for time and materials or for fixed monthly amounts. Revenue is recognized when efforts are expended or contractual terms have been met. | ||
Some client agreements include multiple elements, comprised of cell process development and cell manufacturing services. The Company believes that cell process development and cell manufacturing services each have stand-alone value because these services can be provided separately by other companies. In accordance with ASC Update No. 2009-13, “Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements,” the Company (1) separates deliverables into separate units of accounting when deliverables are sold in a bundled arrangement and (2) allocates the arrangement's consideration to each unit in the arrangement based on its relative selling price. | ||
Clinical Services Reimbursements: The Company separately charges the customers for the expenses associated with certain consumable resources (reimbursable expenses) that are specified in each clinical services contract. On a monthly basis, the Company bills customers for reimbursable expenses and immediately recognizes these billings as revenue, as the revenue is deemed earned as reimbursable expenses are incurred. For the year ended December 31, 2013 and 2012, clinical services reimbursements were $2.1 million and $3.5 million, respectively. | ||
Processing and Storage Services: The Company recognizes revenue related to the collection and cryopreservation of cord blood and autologous adult stem cells when the cryopreservation process is completed which is approximately twenty-four hours after cells have been collected. Revenue related to advance payments of storage fees is deferred and recognized ratably over the period covered by the advance payments. | ||
Research and Development Costs | ||
Research and development (“R&D”) expenses include salaries, benefits, and other headcount related costs, clinical trial and related clinical manufacturing costs, contract and other outside service fees including sponsored research agreements, and facilities and overhead costs. The Company expenses the costs associated with research and development activities when incurred. | ||
To further drive the Company’s cell therapy initiatives, the Company will continue targeting key governmental agencies, congressional committees and not-for-profit organizations to contribute funds for the Company’s research and development programs. The Company accounts for such grants as a deduction to the related expense in research and development operating expenses when earned. |
Cash_and_Cash_Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2013 | |
Cash and Cash Equivalents [Abstract] | ' |
Cash and Cash Equivalents [Text Block] | ' |
Cash and Cash Equivalents | |
As of December 31, 2013 and December 31, 2012, the Company had cash and cash equivalents of approximately $46.1 million and $13.7 million, respectively, including bank deposits of approximately $0.7 million and $0.8 million, respectively, covered by the Federal Deposit Insurance Corporation. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2013 | |
Inventories [Abstract] | ' |
Inventory Disclosure [Text Block] | ' |
Inventories | |
Inventories, representing work in process for costs incurred on projects at PCT that have not been completed, were $1.3 million and $1.1 million as of December 31, 2013 and December 31, 2012, respectively. The Company also has deferred revenue of approximately $1.5 million and $1.2 million of billings received as of December 31, 2013 and December 31, 2012, respectively, related to these contracts. |
Property_Plant_Equipment
Property, Plant & Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
Property, Plant and Equipment | ||||||||
Property, plant, and equipment consisted of the following (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Building and improvements | $ | 11,229.90 | $ | 9,897.80 | ||||
Machinery and equipment | 58.2 | 39.5 | ||||||
Lab equipment | 2,743.70 | 1,800.60 | ||||||
Furniture and fixtures | 958 | 683.7 | ||||||
Software | 203.1 | 99.5 | ||||||
Leasehold improvements | 674.1 | 654.5 | ||||||
Property, plant and equipment, gross | 15,867.00 | 13,175.60 | ||||||
Accumulated depreciation | (3,022.8 | ) | (2,022.5 | ) | ||||
Property, plant and equipment, net | $ | 12,844.20 | $ | 11,153.10 | ||||
The Company’s results included depreciation expense of approximately $1.0 million and $1.0 million for the years ended December 31, 2013 and December 31, 2012, respectively. |
Loss_Per_Share
Loss Per Share | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Loss Per Share [Abstract] | ' | |||||
Loss Per Share [Text Block] | ' | |||||
Loss Per Share | ||||||
For the year ended December 31, 2013 and 2012, the Company incurred net losses and therefore no common stock equivalents were utilized in the calculation of loss per share. At December 31, 2013 and 2012, the Company excluded the following potentially dilutive securities: | ||||||
December 31, | ||||||
2013 | 2012 | |||||
Stock Options | 2,932,191 | 2,168,668 | ||||
Warrants | 4,898,266 | 5,528,761 | ||||
Restricted Shares | 78,500 | 34,250 | ||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||
Fair Value Measurements [Text Block] | ' | |||||||||||
Fair Value Measurements | ||||||||||||
Fair value of financial assets and liabilities that are being measured and reported are defined as the exchange price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market at the measurement date (exit price). The Company is required to classify fair value measurements in one of the following categories: | ||||||||||||
Level 1 inputs are defined as quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | ||||||||||||
Level 2 inputs are defined as inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly or indirectly. | ||||||||||||
Level 3 inputs are defined as unobservable inputs for the assets or liabilities. Financial assets and liabilities are classified 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 requires judgment, and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. | ||||||||||||
The Company determined the fair value of the embedded derivative liabilities and warrant derivative liabilities to be level 3 inputs. These inputs require material subjectivity because value is derived through the use of a lattice model that values the derivatives based on probability weighted discounted cash flows. The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2013, and December 31, 2012 (in thousands): | ||||||||||||
31-Dec-13 | ||||||||||||
Fair Value Measurements Using Fair Value Hierarchy | ||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||
Warrant derivative liabilities | $ | — | $ | — | $ | 23.2 | ||||||
Contingent consideration | — | — | 9,450.00 | |||||||||
December 31, 2012 | ||||||||||||
Fair Value Measurements Using Fair Value Hierarchy | ||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||
Warrant derivative liabilities | $ | — | $ | — | $ | 101.2 | ||||||
Contingent consideration | — | — | 7,550.00 | |||||||||
Contingent consideration was recognized on October 17, 2011 in connection with the Company's acquisition of Amorcyte. The contingent consideration obligations relates to earn out payments equal to 10% of the net sales of Amorcyte’s lead product candidate AMR-001 (in the event of and following the date of first commercial sale of AMR-001), provided that in the event NeoStem sublicenses AMR-001, the applicable earn out payment will be equal to 30% of any sublicensing fees, and provided further that NeoStem will be entitled to recover direct out-of-pocket clinical development costs not previously paid or reimbursed and any costs, expenses, liabilities and settlement amounts arising out of claims of patent infringement or otherwise challenging Amorcyte’s right to use intellectual property, by reducing any earn out payments due by 50% until such costs have been recouped in full (the “Earn Out Payments”). | ||||||||||||
The fair value of contingent consideration obligations is determined using Level 3 inputs, and is based on a discounted cash flow model using a probability-weighted income approach. The measurement is based upon unobservable inputs supported by little or no market activity based on our own assumptions and experience. We base the timing to complete the development and approval of this product on the current development stage of the product and the inherent difficulties and uncertainties in developing a product candidate, such as obtaining U.S. Food and Drug Administration (FDA) and other regulatory approvals. In determining the probability of regulatory approval and commercial success, we utilize data regarding similar milestone events from several sources, including industry studies and our own experience. These fair value measurements represent Level 3 measurements as they are based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date and for each subsequent period. Accordingly, changes in assumptions could have a material impact on the amount of contingent consideration expense we record in any given period. Changes in the fair value of the contingent consideration obligations are recorded in our consolidated statement of operations. The contingent consideration fair value increased from $7.6 million as of December 31, 2012 to $9.5 million as of December 31, 2013. The change in estimated fair value is based on the Company's update of the discounted cash flow model using a probability-weighted income approach, taking into account a 18% discount rate, revised collaboration assumptions, and assumptions of the market opportunity and development costs, and the impact of the time progression through the Phase 2 clinical trial from December 31, 2012 to December 31, 2013. | ||||||||||||
For those financial instruments with significant Level 3 inputs, the following table summarizes the activity for the year ended December 31, 2013 by type of instrument (in thousands): | ||||||||||||
Year Ended | ||||||||||||
December 31, 2013 | ||||||||||||
Warrants | Contingent Consideration | |||||||||||
Beginning liability balance | $ | 101.2 | $ | 7,550.00 | ||||||||
Change in fair value recorded in earnings | (78.0 | ) | 1,900.00 | |||||||||
Ending liability balance | $ | 23.2 | $ | 9,450.00 | ||||||||
For those financial instruments with significant Level 3 inputs, the following table summarizes the activity for the year ended December 31, 2012 by type of instrument (in thousands): | ||||||||||||
Year Ended | ||||||||||||
December 31, 2012 | ||||||||||||
Embedded Derivatives | Warrants | Contingent Consideration | ||||||||||
Beginning liability balance | $ | 391.7 | $ | 82.7 | $ | 3,130.00 | ||||||
Change in fair value recorded in earnings | (391.7 | ) | 18.5 | 4,420.00 | ||||||||
Ending liability balance | $ | — | $ | 101.2 | $ | 7,550.00 | ||||||
Some of the Company’s financial instruments are not measured at fair value on a recurring basis, but are recorded at amounts that approximate fair value due to their liquid or short-term nature, such as cash and cash equivalents, accounts receivable, accounts payable, and notes payable. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ' | |||||||||||||||||||||||||
Goodwill and Intangible Assets [Text Block] | ' | |||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ||||||||||||||||||||||||||
The Company's goodwill was $11.1 million as of December 31, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||||
The Company's intangible assets and related accumulated amortization as of December 31, 2013 and December 31, 2012 consisted of the following (in thousands): | ||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||
Useful Life | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | ||||||||||||||||||||
Customer list | 10 years | $ | 1,000.00 | $ | (295.1 | ) | $ | 704.9 | $ | 1,000.00 | $ | (195.1 | ) | $ | 804.9 | |||||||||||
Manufacturing technology | 10 years | 3,900.00 | (1,150.9 | ) | 2,749.10 | 3,900.00 | (760.9 | ) | 3,139.10 | |||||||||||||||||
Tradename | 10 years | 800 | (236.1 | ) | 563.9 | 800 | (156.1 | ) | 643.9 | |||||||||||||||||
In process R&D | Indefinite | 9,400.00 | — | 9,400.00 | 9,400.00 | — | 9,400.00 | |||||||||||||||||||
VSEL patent rights | 19 years | 669 | (211.3 | ) | 457.7 | 669 | (176.1 | ) | 492.9 | |||||||||||||||||
Total Intangible Assets | $ | 15,769.00 | $ | (1,893.4 | ) | $ | 13,875.60 | $ | 15,769.00 | $ | (1,288.2 | ) | $ | 14,480.80 | ||||||||||||
Total intangible amortization expense was classified in the operating expense categories for the periods included below as follows (in thousands): | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Cost of revenue | $ | 390 | $ | 390 | ||||||||||||||||||||||
Research and development | 35.2 | 35.2 | ||||||||||||||||||||||||
Selling, general and administrative | 180 | 180 | ||||||||||||||||||||||||
Total | $ | 605.2 | $ | 605.2 | ||||||||||||||||||||||
Estimated intangible amortization expense on an annual basis for the succeeding five years is as follow (in thousands): | ||||||||||||||||||||||||||
2014 | $ | 605.2 | ||||||||||||||||||||||||
2015 | 605.2 | |||||||||||||||||||||||||
2016 | 605.2 | |||||||||||||||||||||||||
2017 | 605.2 | |||||||||||||||||||||||||
2018 | 605.2 | |||||||||||||||||||||||||
Thereafter | 10,849.60 | |||||||||||||||||||||||||
$ | 13,875.60 | |||||||||||||||||||||||||
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities [Abstract] | ' | |||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | |||||||
Accrued Liabilities | ||||||||
Accrued liabilities were as follow (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Salaries, employee benefits and related taxes | $ | 2,325.80 | $ | 1,597.20 | ||||
Professional fees | 544.8 | 606.6 | ||||||
License fees | 500 | — | ||||||
Other | 647.4 | 81 | ||||||
$ | 4,018.00 | $ | 2,284.80 | |||||
Debt
Debt | 12 Months Ended |
Dec. 31, 2013 | |
Debt [Abstract] | ' |
Debt Disclosure [Text Block] | ' |
Debt | |
Notes Payable | |
As of December 31, 2013 and December 31, 2012, the Company had notes payable of approximately $0.9 million and $0.4 million, respectively. The notes relate to certain insurance policies and equipment financings, require monthly payments, and mature within one to three years. | |
Mortgages Payable | |
In October 2007, PCT issued a note to borrow $3.1 million (the “First Mortgage”) in connection with its $3.8 million purchase of condominium units in an existing building in Allendale, New Jersey (the “Property”) that PCT uses as a laboratory and stem cell processing facility. The First Mortgage is payable in 239 consecutive monthly payments of principal and interest, based on a 20 year amortization schedule; and one final payment of all outstanding principal plus accrued interest then due. The current monthly installment is $20,766, which includes interest at an initial rate of 5.00%; the interest rate and monthly installments payments are subject to adjustment on October 1, 2017. On that date, upon prior written notice, the lender has the option to declare the entire outstanding principal balance, together with all outstanding interest, due and payable in full. The First Mortgage is secured by substantially all of the assets of PCT, including a first mortgage on the Property and assignment of an amount approximately equal to eighteen months debt service held in escrow. The Note matures on October 1, 2027 if not called by the lender on October 1, 2017. The First Mortgage was subject to certain debt service coverage and total debt to tangible net worth financial covenant ratios measured semi-annually. The outstanding balance was approximately $2.5 million and $2.6 million at December 31, 2013 and December 31, 2012, respectively, of which $126,700 is payable within twelve months as of December 31, 2013. | |
In December 2010 PCT Allendale, a wholly-owned subsidiary of PCT, entered into a note for a second mortgage in the amount of $1 million (the "Second Mortgage") on the Allendale Property with TD Bank, N.A. This Second Mortgage is guaranteed by PCT, DomaniCell (a wholly-owned subsidiary of PCT, now known as NeoStem Family Storage, LLC), Regional Cancer Care Associates LLC and certain of its partners were subject to an annual financial covenant starting December 31, 2011. PCT was not in compliance with such covenants at the measurement date of December 31, 2012, and obtained a covenant waiver letter from the lender for each period. The Second Mortgage is for 124 months at a fixed rate of 6% for the first 64 months. The loan is callable for a certain period prior to the interest reset date. The outstanding balance was approximately $0.8 million and $0.8 million at December 31, 2013 and December 31, 2012, respectively, of which $86,400 is payable within twelve months as of December 31, 2013. | |
In December 2013, the Company modified both the First Mortgage and Second Mortgage with TD Bank, N.A., whereby (i) prior debt service coverage and total debt to tangible net worth financial covenant ratios were replaced with a minimum unencumbered liquidity covenant, and (ii) prior guarantors were released (see Note 16) and replaced with NeoStem, PCT, and NeoStem Family Storage. Prior to this modification, PCT was not in compliance with such covenants at the June 30, 2012, December 31, 2012, and June 30, 2013 measurement dates, and as a result, classified the entire First Mortgage and Second Mortgage balances as a current liability. PCT also obtained a covenant waiver letter for each period. Subsequent to the modification, as of December 31, 2013, the Company is in compliance with the new minimum unencumbered liquidity covenant, and as a result, will only report mortgage payments due within twelve months as a current liability. |
Preferred_Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2013 | |
Preferred Stock [Abstract] | ' |
Preferred Stock [Text Block] | ' |
Preferred Stock | |
Convertible Redeemable Series E 7% Preferred Stock | |
On November 19, 2010, the Company sold 10,582,011 Preferred Offering Units consisting of (i) one share (“Preferred Share”) of Series E 7% Senior Convertible Preferred Stock (the “Series E Preferred Stock”), par value $0.01 per share, of the Company, (ii) a warrant to purchase 0.25 of a share of common stock (consisting of at issuance an aggregate of 132,249 warrants, adjusted to an aggregate of 222,446 as of December 31, 2013); and (iii) 0.0155 of a share of common stock (an aggregate of 16,442 common shares). Each Preferred Offering Unit was priced at $0.945 and total gross and net proceeds received by the Company were $10.0 million and $8.9 million, respectively. | |
Monthly dividend and principal payments began in March 2011, and continued each month thereafter with the final payment due in May 2013. In October 2012, the Company completed the redemption of all 2,351,558 Series E Preferred Stock shares then remaining outstanding, for an aggregate cash redemption price of approximately $3.4 million, $2.5 million of which was funded by money placed into escrow when the Series E Preferred stock was issued in November 2010. The cash redemption included the repayment of $3.1 million outstanding principal, an additional early redemption premium of $0.2 million, which was included in dividends, and $36,000 of accrued interest. | |
The Company recorded the fair value of the warrants as a short-term derivative liability as of December 31, 2013, and long-term derivative liability as of December 31,2012. The fair values of the warrant derivatives as of December 31, 2013 and December 31, 2012 were $23,200 and $101,200, respectively. The Company reports changes in the fair value of the warrant derivative in earnings within other income (expense), net (see Note 7). |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Shareholdersb Equity [Abstract] | ' | |||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||||||||||||||||||||||
Stockholders' Equity | ||||||||||||||||||||||||||
Reverse Stock Split | ||||||||||||||||||||||||||
On June 28, 2013, pursuant to prior shareholder authorization, the Company’s board of directors unanimously approved a 1-for-10 reverse stock split of the Company’s common stock, which the Company effected on July 16, 2013. All share and per share amounts of common stock, options and warrants in the accompanying financial statements have been restated for all periods to give retroactive effect to the reverse stock split. The shares of common stock retained a par value of $0.001 per share. Accordingly, the stockholders’ deficit reflects the reverse stock split by reclassifying from “common stock” to “Additional paid-in capital” an amount equal to the par value of the decreased shares resulting from the reverse stock split. | ||||||||||||||||||||||||||
Equity Plans | ||||||||||||||||||||||||||
The Company's 2003 Equity Participation Plan (the “2003 Equity Plan”) expired in 2013 and accordingly, equity awards under the 2003 Equity Plan can no longer be issued. Prior to its expiration, the Company’s 2003 Equity Participation Plan had permitted the grant of share options and shares to the Company's employees, directors, consultants and advisors for up to 250,000 shares of common stock as stock-based compensation. The 2009 Equity Compensation Plan (the “2009 Equity Plan”) makes up to 5,995,000 shares of common stock of the Company (as of December 31, 2013) available for issuance to employees, consultants, advisors and directors of the Company and its subsidiaries pursuant to incentive or non-statutory stock options, restricted and unrestricted stock awards and stock appreciation rights. | ||||||||||||||||||||||||||
All stock options under the 2003 Equity Plan were granted and the 2009 Equity Plan are granted at the fair market value of the common stock at the grant date. Stock options vest either on the date of grant, ratably over a period determined at time of grant, or upon the accomplishment of specified business milestones, and generally expire 2, 3, or 10 years from the grant date depending on the status of the recipient as a consultant, advisor, employee or director of the Company. | ||||||||||||||||||||||||||
The 2009 Equity Plan was originally adopted by the stockholders of the Company on May 8, 2009. On October 29, 2009, the stockholders of the Company approved an amendment to the 2009 Equity Plan to increase the number of shares of common stock available for issuance thereunder from 380,000 to 975,000. At the 2010 Annual Meeting of Stockholders of the Company held on June 2, 2010, the stockholders approved an amendment to increase this number to 1,375,000. At a Special Meeting of Stockholders of the Company held on January 18, 2011, the stockholders approved an amendment to increase this number to 1,775,000 . At the 2011 Annual Meeting of Stockholders of the Company held on October 14, 2011, the stockholders approved an amendment to increase this number to 2,375,000. At the 2012 Annual Meeting of Stockholders of the Company held on October 5, 2012, the stockholders approved an amendment to (i) merge the 570,000 shares reserved for issuance under the Company's 2009 Non-U.S. Based Equity Compensation Plan (the "Non-U.S. Plan") with and into the 2009 Equity Plan, and (ii) increase by 450,000 the aggregate number of shares authorized for issuance under the 2009 Equity Plan (the “2009 Amended & Restated Equity Plan”). At the Company's 2013 Annual Meeting held October 3, 2013, the Company's stockholders approved an amendment to the 2009 Amended & Restated Equity Plan to increase the number of shares authorized for issuance thereafter by 2,600,000. The Non-U.S. Plan was originally adopted by the stockholders of the Company on October 29, 2009, and was subsequently amended on June 2, 2010 to increase the shares from 470,000 to 870,000, and on October 14, 2011 to decrease the shares to 570,000, prior to the merger into the 2009 Equity Plan. | ||||||||||||||||||||||||||
The number of remaining shares authorized to be issued under the various equity plans are as follows: | ||||||||||||||||||||||||||
2003 Equity Plan | 2009 Equity Plan | |||||||||||||||||||||||||
Shares Authorized for Issuance | 250,000 | 5,995,000 | ||||||||||||||||||||||||
Outstanding Stock Options | (136,480 | ) | (2,795,711 | ) | ||||||||||||||||||||||
Exercised Stock Options | (9,250 | ) | (31,869 | ) | ||||||||||||||||||||||
Restricted stock or equity grants issued under Equity Plans | (88,993 | ) | (595,852 | ) | ||||||||||||||||||||||
Shares Expired | (15,277 | ) | — | |||||||||||||||||||||||
Total common shares remaining to be issued under the Equity Plans | — | 2,571,568 | ||||||||||||||||||||||||
The Company adopted an employee stock purchase plan effective January 1, 2013, and authorized 500,000 shares under the plan. The plan has two six-month offering periods per year under which eligible employees may contribute up to 15% of their compensation toward the purchase of the Company's common stock per offering period (with a $25,000 cap per calender year). The employee's purchase price is equal to (i) 85% of the closing price of a share of the Company's common stock on the enrollment date of such offering period or (ii) 85% of the closing price of a share of the Company's Common Stock on the Exercise Date of such Offering Period, whichever is lower. During the year ended December 31, 2013, 23,052 shares were issued under the employee stock purchase plan. At December 31, 2013, the Company had 476,948 shares of the Company's common stock available for future grant in connection with these plans. | ||||||||||||||||||||||||||
Equity Issuances | ||||||||||||||||||||||||||
In September 2011, the Company entered into a common stock Purchase Agreement (the “Prior Purchase Agreement”) with Aspire Capital Fund, LLC, an Illinois limited liability company (“Aspire Capital”), which provides that, subject to certain terms and conditions, Aspire Capital was committed to purchase up to an aggregate of $20.0 million worth of shares of the Company’s common stock over the 24-month term of the Prior Purchase Agreement. At the Company’s discretion, it may present Aspire Capital with purchase notices under the Prior Purchase Agreement from time to time, to purchase the Company’s common stock, provided certain price and other requirements are met. The purchase price for the shares of stock was based upon one of two formulas set forth in the Prior Purchase Agreement depending on the type of purchase notice we submit to Aspire Capital from time to time, and was be based on market prices of the Company’s common stock (in the case of regular purchases) or a discount of 5% applied to volume weighted average prices (in the case of VWAP purchases), in each case as determined by parameters defined in the agreement. As consideration for entering into the Prior Purchase Agreement, effective September 30, 2011, we issued 99,010 shares of our common stock to Aspire Capital (the “Commitment Shares”). The issuance of shares of common stock to Aspire Capital pursuant to the Prior Purchase Agreement, including the Commitment Shares, and the sale of those shares from time to time by Aspire Capital to the public, are covered by a shelf registration statement on Form S-3. | ||||||||||||||||||||||||||
In August 2012, the Company and Aspire entered into an amendment to the Prior Purchase Agreement dated September 28, 2011, providing for an extension of the 24-month term of the Prior Purchase Agreement until September 30, 2015. Pursuant to the amendment, we agreed to issue to Aspire a five-year warrant to purchase up to 161,290 shares of our common stock at an exercise price of $6.00 per share (the closing price of our common stock on the date the amendment was executed). | ||||||||||||||||||||||||||
For the year ended December 31, 2013, the Company issued 1.6 million shares of common stock under the provisions of its equity line of credit with Aspire for gross proceeds of approximately $11.1 million. As of December 31, 2013, the remaining amount available to the Company under the Prior Purchase Agreement was $5.6 million. | ||||||||||||||||||||||||||
In April 2013, the Company completed an underwritten offering of 2.0 million shares of the Company's common stock, at a public offering price of $5.00 per share. The underwriters also exercised their entire over-allotment option of 0.3 million shares. The Company received gross proceeds of $11.5 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company. | ||||||||||||||||||||||||||
In October 2013, the Company completed an underwritten offering of 5.0 million shares of the Company's common stock, at a public offering price of $7.00 per share. The underwriters also exercised their entire over-allotment option of 0.75 million shares. The Company received gross proceeds of $40.3 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company. | ||||||||||||||||||||||||||
Option Exercises | ||||||||||||||||||||||||||
During the year ended ended December 31, 2013, option holders exercised an aggregate of 0.03 million options at exercise prices between $4.00 and $5.90 per share for gross proceeds of approximately $0.2 million. | ||||||||||||||||||||||||||
Warrant Exercises | ||||||||||||||||||||||||||
To raise capital on terms that we deemed favorable, during the year ended December 31, 2013, the Board authorized certain inducements to warrant holders to exercise outstanding common stock purchase warrants significantly before their expiration dates. The Company determined in each instance that such inducements were modifications of equity instruments, and an incremental fair value of the inducement was determined using the Black-Scholes option pricing model. | ||||||||||||||||||||||||||
During the year ended ended December 31, 2013, warrant holders exercised an aggregate of 0.6 million warrants at exercise prices between $5.10 and $7.40 per share for gross proceeds of approximately $3.0 million. As an inducement to exercise, we paid certain warrant holders $0.30 per share upon each exercise. | ||||||||||||||||||||||||||
Stock Options and Warrants | ||||||||||||||||||||||||||
The following table summarizes the activity for stock options and warrants for the years ended December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||
Stock Options | Warrants | |||||||||||||||||||||||||
Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (In Thousands) | Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (In Thousands) | |||||||||||||||||||
Outstanding at December 31, 2012 | 2,168,668 | $ | 12.85 | 6.8 | $ | 1,658.10 | 5,528,761 | $ | 15.65 | 3.6 | $ | 1,300.00 | ||||||||||||||
Changes during the Year: | ||||||||||||||||||||||||||
Granted | 959,167 | $ | 7.01 | 86,250 | $ | 6.66 | ||||||||||||||||||||
Exercised | (31,369 | ) | $ | 4.8 | (563,166 | ) | $ | 5.38 | ||||||||||||||||||
Forfeited | (89,412 | ) | $ | 5.54 | (17,500 | ) | $ | 14.2 | ||||||||||||||||||
Expired | (74,863 | ) | $ | 15.4 | (136,079 | ) | $ | 20.15 | ||||||||||||||||||
Outstanding at December 31, 2013 | 2,932,191 | $ | 11.19 | 6.8 | $ | 1,658.10 | 4,898,266 | $ | 16.5 | 2.6 | $ | 1,811.00 | ||||||||||||||
Vested at December 31, 2013 or expected to vest in the future | 2,816,138 | $ | 11.36 | 6.7 | $ | 1,604.00 | 4,884,957 | $ | 16.35 | 2.6 | $ | 1,811.00 | ||||||||||||||
Exercisable at December 31, 2013 | 2,231,869 | $ | 12.14 | 6.4 | $ | 1,283.30 | 4,780,658 | $ | 15.41 | 2.6 | $ | 1,811.00 | ||||||||||||||
The total intrinsic value of stock options exercised during the years ended December 31, 2013 and December 31, 2012 was $104,360 and $0, respectively. | ||||||||||||||||||||||||||
During the year ended December 31, 2013 and 2012, the Company issued warrants for services as follows ($ in thousands, except share data): | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Number of Common Stock Purchase Warrants Issued | 40,407 | 41,969 | ||||||||||||||||||||||||
Value of Common Stock Purchase Warrants Issued | $ | 149.9 | $ | 172.2 | ||||||||||||||||||||||
Restricted Stock | ||||||||||||||||||||||||||
During the year ended December 31, 2013 and 2012, the Company issued restricted stock for services as follows ($ in thousands, except share data): | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Number of Restricted Stock Issued | 514,700 | 229,553 | ||||||||||||||||||||||||
Value of Restricted Stock Issued | $ | 3,360.00 | $ | 1,325.10 | ||||||||||||||||||||||
The weighted average estimated fair value of restricted stock issued for services in the year ended December 31, 2013 and 2012 was $6.53 and $5.77 per share, respectively. The fair value of the restricted stock was determined using the Company’s closing stock price on the date of issuance. The vesting terms of restricted stock issuances are generally within one year. |
ShareBased_Compensation_Notes
Share-Based Compensation (Notes) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
Share-Based Compensation | |||||||||||||||||
Share-based Compensation | |||||||||||||||||
We utilize share-based compensation in the form of stock options, warrants and restricted stock. The following table summarizes the components of share-based compensation expense for the year ended December 31, 2013 and 2012 ($ in thousands): | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Cost of goods sold | $ | 314 | $ | 195 | |||||||||||||
Research and development | 822.2 | 432.9 | |||||||||||||||
Selling, general and administrative | 5,702.50 | 6,084.60 | |||||||||||||||
Total share-based compensation expense | $ | 6,838.70 | $ | 6,712.50 | |||||||||||||
Total compensation cost related to nonvested awards not yet recognized and the weighted-average periods over which the awards are expected to be recognized at December 31, 2013 were as follows ($ in thousands): | |||||||||||||||||
Stock Options | Warrants | Restricted Stock | |||||||||||||||
Unrecognized compensation cost | $ | 2,422.20 | $ | 55.6 | $ | 335.6 | |||||||||||
Expected weighted-average period in years of compensation cost to be recognized | 3.51 | 1.54 | 0.38 | ||||||||||||||
Total fair value of shares vested and the weighted average estimated fair values of shares grant for the year ended December 31, 2013 and 2012 were as follows ($ in thousands): | |||||||||||||||||
Stock Options | Warrants | ||||||||||||||||
Year Ended December 31, | Year Ended December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Total fair value of shares vested | $ | 3,375.70 | $ | 5,408.00 | $ | 129 | $ | 171.6 | |||||||||
Weighted average estimated fair value of shares granted | 4.29 | 3.63 | 3.71 | 4.1 | |||||||||||||
Valuation Assumptions | |||||||||||||||||
The fair value of stock options and warrants at the date of grant was estimated using the Black-Scholes option pricing model. The expected volatility is based upon historical volatility of the Company’s stock. The expected term for the options is based upon observation of actual time elapsed between date of grant and exercise of options for all employees. The expected term for the warrants is based upon the contractual term of the warrants. | |||||||||||||||||
The range of assumptions made in calculating the fair values of stock options and warrants was as follow: | |||||||||||||||||
Stock Options | Warrants | ||||||||||||||||
Year Ended December 31, | Year Ended December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Expected term - minimum (in years) | 1 | 2 | 2 | 2 | |||||||||||||
Expected term - maximum (in years) | 10 | 10 | 5 | 5 | |||||||||||||
Expected volatility - minimum | 61% | 73% | 73% | 76% | |||||||||||||
Expected volatility - maximum | 79% | 84% | 79% | 83% | |||||||||||||
Expected dividend yield | — | — | — | — | |||||||||||||
Risk-free interest rate - minimum | 0.13% | 0.28% | 0.32% | 0.27% | |||||||||||||
Risk-free interest rate - maximum | 2.67% | 1.99% | 1.73% | 0.88% |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||
Income Taxes | |||||||||
The provision (benefit) for income taxes is based on loss from operations before provision for income taxes and noncontrolling interests as follows ($ in thousands): | |||||||||
Years Ended December 31, | |||||||||
2,013 | 2012 | ||||||||
United States | $ | (38,705.2 | ) | $ | (36,276.9 | ) | |||
$ | (38,705.2 | ) | $ | (36,276.9 | ) | ||||
The provision (benefit) for income taxes was as follows ($ in thousands): | |||||||||
Years Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Current | |||||||||
US Federal | $ | — | $ | — | |||||
State and local | — | — | |||||||
$ | — | $ | — | ||||||
Deferred | |||||||||
US Federal | $ | 476.9 | $ | — | |||||
State and local | 303.2 | (175.5 | ) | ||||||
$ | 780.1 | $ | (175.5 | ) | |||||
Total | |||||||||
US Federal | $ | 476.9 | $ | — | |||||
State and local | 303.2 | (175.5 | ) | ||||||
$ | 780.1 | $ | (175.5 | ) | |||||
The provision (benefit) for income taxes is determined by applying the U.S. Federal statutory rate of 34% to income before income taxes as a result of the following ($ in thousands): | |||||||||
Years Ended December 31, | |||||||||
2013 | 2012 | ||||||||
U.S. Federal benefit at statutory rate | (13,159.8 | ) | (12,334.1 | ) | |||||
State and local benefit net of U.S. federal tax | (3,430.9 | ) | (2,154.1 | ) | |||||
Permanent non deductible expenses for U.S. taxes | 1,798.20 | (2,781.4 | ) | ||||||
True-up of prior year net operating loss | (91.4 | ) | 321.6 | ||||||
Return to actual | (3,822.9 | ) | (384.8 | ) | |||||
Foreign earnings not permanently reinvested | — | (1,810.3 | ) | ||||||
Effect of change in deferred tax rate | (1,094.8 | ) | 525.7 | ||||||
Valuation allowance for deferred tax assets | 20,581.70 | 18,441.90 | |||||||
Tax provision | $ | 780.1 | $ | (175.5 | ) | ||||
Deferred income taxes at December 31, 2013 and 2012 consist of the following ($ in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Deferred Tax Assets: | |||||||||
Accumulated net operating losses (tax effected) | $ | 43,334.80 | $ | 25,727.70 | |||||
Deferred revenue | 10.5 | 23.1 | |||||||
Contingent accounts payable | 13.6 | 15.2 | |||||||
Share-based compensation | 7,971.90 | 5,466.70 | |||||||
Intangibles | 704.6 | 287.3 | |||||||
Accumulated depreciation | — | 348.7 | |||||||
Charitable contributions | 414.9 | 391.8 | |||||||
Bad debt provision | 304.3 | 239.7 | |||||||
Capital loss carry-forward | 7,036.80 | 6,644.50 | |||||||
Deferred tax assets prior to tax credit carryovers | 59,791.40 | 39,144.70 | |||||||
Deferred Tax Liabilities: | |||||||||
Accumulated depreciation | $ | (64.8 | ) | $ | — | ||||
Intangible and indefinite lived assets | (4,379.2 | ) | (3,599.1 | ) | |||||
Deferred tax liabilities | (4,444 | ) | (3,599.1 | ) | |||||
55,347.40 | 35,545.60 | ||||||||
Valuation reserve | (59,726.6 | ) | (39,144.7 | ) | |||||
Net deferred tax liability | $ | (4,379.2 | ) | $ | (3,599.1 | ) | |||
In assessing the realizability of deferred tax assets, including the net operating loss carryforwards ("NOLs"), the Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize its existing deferred tax assets. Based on its assessment, the Company has provided a full valuation allowance against its net deferred tax assets as their future utilization remains uncertain at this time. | |||||||||
As of December 31, 2013 and 2012, the Company had approximately $110.6 million and $77.1 million, respectively of Federal NOLs available to offset future taxable income expiring from 2025 through 2033. In accordance with Section 382 of the Internal Revenue code, the usage of the Company’s NOLs could be limited in the event of a change in ownership. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period when those temporary differences become deductible. If a change of ownership did occur there would be an annual limitation on the usage of the Company’s losses which are available through 2032. | |||||||||
As of December 31, 2013, management does not believe the Company has any material uncertain tax positions that would require it to measure and reflect the potential lack of sustainability of a position on audit in its financial statements. The Company will continue to evaluate its uncertain tax positions in future periods to determine if measurement and recognition in its financial statements is necessary. The Company does not believe there will be any material changes in its unrecognized tax positions over the next year. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Discontinued Operations [Abstract] | ' | |||
Discontinued Operations [Text Block] | ' | |||
Discontinued Operations | ||||
Regenerative Medicine - China segment | ||||
In 2009, the Company operated its Regenerative Medicine-China business in the People’s Republic of China (“China” or “PRC”) through its subsidiary, a wholly foreign owned entity (“WFOE”) and entered into contractual arrangements with certain variable interest entities (“VIEs”). Foreign companies have commonly used VIE structures to operate in the PRC, and while such structures are not uncommon, recently they have drawn greater scrutiny from the local Chinese business community in the PRC who have urged the PRC State Council to clamp down on these structures. In addition, in December 2011, China’s Ministry of Health announced its intention to more tightly regulate stem cell clinical trials and stem cell therapeutic treatments in the PRC, which has created uncertainty regarding the ultimate regulatory environment in the PRC. Accordingly, the Company took steps to restrict, and ultimately eliminate, its regenerative medicine business in the PRC. As a result of these steps, the Company has discontinued its operations in its Regenerative Medicine-China business. The Company has determined that any liability arising from the activities of the WFOE and the VIEs will likely be limited to the net assets currently held by each entity. As of March 31, 2012, the Company recognized the following loss on exit of the Regenerative Medicine-China business (in thousands): | ||||
Cash | $ | 195.1 | ||
Prepaid expenses and other current assets | 14.9 | |||
Property, plant and equipment, net | 1,023.70 | |||
Other Assets | 330.5 | |||
Accounts payable | (177.1 | ) | ||
Accrued liabilities | (79.2 | ) | ||
Accumulated comprehensive income | (169.9 | ) | ||
Loss on exit of segment | $ | 1,138.00 | ||
The operations and cash flows of the Regenerative Medicine - China business were eliminated from ongoing operations as a result of our exit decision, and the Company will not have continuing involvement in this business going forward. The operating results of the Regenerative Medicine – China business for the year ended December 31, 2012, which are included in discontinued operations, were as follows (in thousands): | ||||
Year Ended December 31, | ||||
2012 | ||||
Revenue | $ | 52.3 | ||
Cost of revenues | (30.6 | ) | ||
Research and development | (103.3 | ) | ||
Selling, general, and administrative | (497.3 | ) | ||
Other income (expense) | (6.8 | ) | ||
Loss on exit of segment | (1,138.0 | ) | ||
Loss from discontinued operations | $ | (1,723.7 | ) | |
Pharmaceutical Manufacturing - China segment | ||||
On November 13, 2012, the Company completed the divestiture (the “Erye Sale”) of our 51% interest (the “Erye Interest”) in Suzhou Erye Pharmaceuticals Company Ltd., a Sino-foreign equity joint venture with limited liability organized under the laws of the PRC primarily engaged in the manufacture of generic antibiotics (“Erye”), to Suzhou Erye Economy & Trading Co., Ltd., a limited liability company organized under the laws of the PRC (“EET”), and Highacheive Holdings Limited, a limited liability company organized under the laws of the British Virgin Islands (“Highacheive” and together with EET, each a “Purchaser” and collectively the “Purchasers”). The Erye Sale was consummated pursuant to the terms and conditions of the Equity Purchase Agreement, dated as of June 18, 2012 (as amended, the “Equity Purchase Agreement”), by and among our Company, China Biopharmaceuticals Holdings, Inc., a Delaware corporation and a wholly-owned subsidiary of NeoStem (“CBH”), EET, Highacheive, Fullbright Finance Limited, a limited liability company organized under the laws of the British Virgin Islands (“Fullbright”), and Erye. Pursuant to the Equity Purchase Agreement, the aggregate purchase price paid to the Company by the Purchasers for the Erye Interest consisted of (i) approximately $12.3 million in cash, (ii) the return to the Company of 104,000 shares of NeoStem common stock and (iii) the cancellation of 117,000 options and 64,000 warrants to purchase our common stock. The fair value of the shares was based on the Company's closing price on the date of sale, and was recorded as Treasury Stock in our balance sheet. The fair values of the canceled options and warrants were based on the Black-Scholes values on the date of sale, and were recorded against Additional Paid in Capital in the accompanying balance sheet. The Company recognized the following loss on the date of sale of its 51% interest in Erye (in thousands): | ||||
Fair value of consideration received | $ | 13,397.90 | ||
Carrying value of segment non-controlling interest | 6,015.00 | |||
Carrying value of segment accumulated comprehensive income | 4,387.40 | |||
$ | 23,800.30 | |||
Less carrying amount of assets and liabilities sold: | ||||
Cash | $ | 8,457.50 | ||
Restricted Cash | 2,918.10 | |||
Accounts Receivable | 6,130.20 | |||
Inventories | 15,077.70 | |||
Prepaid expenses and other current assets | 957.8 | |||
Property, plant and equipment, net | 38,102.00 | |||
Other assets | 5,946.30 | |||
Accounts payable | (9,604.8 | ) | ||
Accrued liabilities | (2,008.8 | ) | ||
Bank loans | (15,133.5 | ) | ||
Notes payable | (6,599.3 | ) | ||
Other liabilities | (9,166.8 | ) | ||
Amount due related party | (7,859.7 | ) | ||
$ | 27,216.70 | |||
Loss on exit of segment | $ | (3,416.4 | ) | |
The operations and cash flows of the Pharmaceutical Manufacturing - China business were eliminated from ongoing operations with the sale of the Company's Erye Interest. The operating results of the Pharmaceutical Manufacturing - China business for the year ended December 31, 2012, which are included in discontinued operations, were as follows (in thousands): | ||||
Year Ended December 31, | ||||
2012 | ||||
Revenue | $ | 61,703.10 | ||
Cost of revenues | (40,245.2 | ) | ||
Research and development | (1,836.4 | ) | ||
Selling, general, and administrative | (10,740.0 | ) | ||
Other expense | (1,045.2 | ) | ||
Provision for income taxes | (1,794.1 | ) | ||
Asset impairments | (31,170.1 | ) | ||
Loss on sale of segment | (3,416.4 | ) | ||
Loss from discontinued operations | $ | (28,544.3 | ) | |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions [Text Block] | ' |
On November 13, 2012, we and our subsidiary, CBH, sold our 51% ownership interest in Erye to Fullbright and EET (see Note 15). EET was prior to the sale the holder of the minority 49% ownership interest in Erye, and was a party along with our subsidiary CBH to the Joint Venture Agreement which had governed the ownership of the respective interests in Erye. Fullbright is an affiliate of EET. Mr. Shi Mingsheng (a former member of our Board of Directors, and Chairman of the Board of Erye) and Madam Zhang Jian (the General Manager of Erye, and formerly our Vice President of Pharmaceutical Operations) are the principal equity holders of each of EET and Fullbright. Fullbright assigned all its rights and obligations under the Equity Purchase Agreement (except for its obligations in respect of the return of certain NeoStem securities held by it as part of the purchase price, and its obligations in respect of closing deliverables) to Highacheive Holdings Limited, a limited liability company organized under the laws of the British Virgin Islands and an affiliate of Fullbright (“Highacheive”). As a result of the assignment, the Purchasers of our Erye Interest were EET and Highacheive. | |
In December 2013, the Company modified both the First Mortgage and Second Mortgage with TD Bank, N.A. (see Note 10). Pursuant to the Loan Modifications, Andrew L. Pecora, M.D., Regional Cancer Care Associates LLC (Dr. Pecora’s medical practice), and certain partners in such practice, have been released as guarantors of the Second Mortgage Loan, and NeoStem has become a guarantor of the Loans pursuant to a Guaranty of Payment delivered by NeoStem to the Lender. Dr. Pecora, currently currently serves as a NeoStem director, NeoStem’s Chief Visionary Officer, PCT’s Chief Medical Officer and Amorcyte’s Chief Scientific Officer. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Commitments and Contingencies [Text Block] | ' | ||||
Commitments and Contingencies | |||||
Lease Commitments | |||||
The Company leases offices, of which certain have escalation clauses and renewal options, and also leases equipment under certain noncancelable operating leases that expire from time to time through 2017. In August 2012, the Company signed a new lease for a larger space at its current executive offices at 420 Lexington Avenue, New York, NY 10170. The new lease is believed to provide sufficient space for the near future. The lease term began in September 2012 and shall extend through June 2015. The base monthly rent, which includes storage space, averages approximately $27,000 per month, with subleases that will aggregate approximately $7,500 per month. This property is used as the Company's corporate headquarters. | |||||
A summary of future minimum rental payments required under operating leases that have initial or remaining terms in excess of one year as of December 31, 2013 are as follows (in thousands): | |||||
Years ended | Operating Leases | ||||
2014 | $ | 1,004.00 | |||
2015 | 829.9 | ||||
2016 | 671.8 | ||||
2017 | 383.4 | ||||
2018 | 5.9 | ||||
Total minimum lease payments | $ | 2,895.00 | |||
Expense incurred under operating leases was approximately $1.1 million and $1.5 million for the year ended December 31, 2013 and 2012, respectively. | |||||
Contingencies | |||||
Under license agreements with third parties the Company is typically required to pay maintenance fees, make milestone payments and/or pay other fees and expenses and pay royalties upon commercialization of products. The Company also sponsors research at various academic institutions, which research agreements generally provide us with an option to license new technology discovered during the course of the sponsored research. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Subsequent Events | |
Common Stock Issuance | |
Pursuant to the Purchase Agreement with Aspire (see Note 12), from January 1, 2014 through March 7, 2014, Aspire has purchased 0.8 million shares of the Company's common stock for an aggregate consideration of approximately $5.6 million. | |
Option and Warrant Exercises | |
Subsequent to December 31, 2013, warrant holders exercised an aggregate of 250,000 warrants at an exercise price of $5.10 per share for gross proceeds of approximately $1.3 million, and option holders exercised an aggregate of 4,800 options at an exercise price of $6.20 per share for gross proceeds of approximately $0.03 million. | |
2014 Aspire Agreement | |
On March 10, 2014, the Company entered into a Common Stock Purchase Agreement with Aspire, whereby Aspire is committed to purchase up to an aggregate of $30.0 million of shares of NeoStem common stock over a 24-month term. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Revenue Recognition [Abstract] | ' | |
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |
The cost of property, plant and equipment is depreciated over the estimated useful lives of the related assets. Depreciation is computed on the straight-line method. Repairs and maintenance expenditures that do not extend original asset lives are charged to expense as incurred. The estimated useful lives of property, plant and equipment are as follows: | ||
Building and improvements | 25-30 years | |
Machinery and equipment | 8-12 years | |
Lab equipment | 5-7 years | |
Furniture and fixtures | 5-12 years | |
Software | 3-5 years | |
Leasehold improvements | Life of lease | |
Revenue Recognition, Policy [Policy Text Block] | ' | |
Treasury Stock | ||
Treasury stock purchases are accounted for under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. Gains or losses on the subsequent reissuance of shares are credited or charged to additional paid in capital. | ||
Revenue Recognition | ||
Clinical Services: The Company recognizes revenue for its (i) cell process development and (ii) cell manufacturing services based on the terms of individual contracts. | ||
Revenues associated with cell process development services generally contain multiple stages that do not have stand-alone values and are dependent upon one another, and are recognized as revenue on a completed contract basis. We recognize revenues for cell development services when all of the following conditions are met: | ||
• | persuasive evidence of an arrangement exists; | |
• | delivery has occurred or the services have been rendered; | |
• | the fee is fixed or determinable; and | |
• | collectability is probable. | |
The Company considers signed contracts as evidence of an arrangement. The Company assesses whether the fee is fixed or determinable based on the payment terms associated with the transaction and whether the payment terms are subject to refund or adjustment. The Company assesses cash collectability based on a number of factors, including past collection history with the client and the client's creditworthiness. If the Company determines that collectability is not reasonably assured, it defers revenue recognition until collectability becomes reasonably assured, which is generally upon receipt of the cash. The Company's arrangements are generally non-cancellable, though clients typically have the right to terminate their agreement for cause if the Company materially fails to perform. | ||
Cell manufacturing services are generally distinct arrangements whereby the Company is paid for time and materials or for fixed monthly amounts. Revenue is recognized when efforts are expended or contractual terms have been met. | ||
Some client agreements include multiple elements, comprised of cell process development and cell manufacturing services. The Company believes that cell process development and cell manufacturing services each have stand-alone value because these services can be provided separately by other companies. In accordance with ASC Update No. 2009-13, “Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements,” the Company (1) separates deliverables into separate units of accounting when deliverables are sold in a bundled arrangement and (2) allocates the arrangement's consideration to each unit in the arrangement based on its relative selling price. | ||
Clinical Services Reimbursements: The Company separately charges the customers for the expenses associated with certain consumable resources (reimbursable expenses) that are specified in each clinical services contract. On a monthly basis, the Company bills customers for reimbursable expenses and immediately recognizes these billings as revenue, as the revenue is deemed earned as reimbursable expenses are incurred. For the year ended December 31, 2013 and 2012, clinical services reimbursements were $2.1 million and $3.5 million, respectively. | ||
Processing and Storage Services: The Company recognizes revenue related to the collection and cryopreservation of cord blood and autologous adult stem cells when the cryopreservation process is completed which is approximately twenty-four hours after cells have been collected. Revenue related to advance payments of storage fees is deferred and recognized ratably over the period covered by the advance payments. |
The_Business_Tables
The Business (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
The Business [Abstract] | ' | ||||
Subsidiary [Table Text Block] | ' | ||||
segment through November 13, 2012, representing the date which the segment was sold (see Note 15). These former segments are reported in discontinued operations. | |||||
Entity | Percentage of Ownership | Location | |||
NeoStem, Inc. | Parent Company | United States of America | |||
NeoStem Therapies, Inc. | 100% | United States of America | |||
Stem Cell Technologies, Inc. | 100% | United States of America | |||
Amorcyte, LLC | 100% | United States of America | |||
Progenitor Cell Therapy, LLC (PCT) | 100% | United States of America | |||
NeoStem Family Storage, LLC | 100% | United States of America | |||
Athelos Corporation (1) | 88.50% | United States of America | |||
PCT Allendale, LLC | 100% | United States of America |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Building and improvements | 25-30 years | |||||||
Machinery and equipment | 8-12 years | |||||||
Lab equipment | 5-7 years | |||||||
Furniture and fixtures | 5-12 years | |||||||
Software | 3-5 years | |||||||
Leasehold improvements | Life of lease | |||||||
Property, plant, and equipment consisted of the following (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Building and improvements | $ | 11,229.90 | $ | 9,897.80 | ||||
Machinery and equipment | 58.2 | 39.5 | ||||||
Lab equipment | 2,743.70 | 1,800.60 | ||||||
Furniture and fixtures | 958 | 683.7 | ||||||
Software | 203.1 | 99.5 | ||||||
Leasehold improvements | 674.1 | 654.5 | ||||||
Property, plant and equipment, gross | 15,867.00 | 13,175.60 | ||||||
Accumulated depreciation | (3,022.8 | ) | (2,022.5 | ) | ||||
Property, plant and equipment, net | $ | 12,844.20 | $ | 11,153.10 | ||||
Property_Plant_Equipment_Table
Property, Plant & Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Building and improvements | 25-30 years | |||||||
Machinery and equipment | 8-12 years | |||||||
Lab equipment | 5-7 years | |||||||
Furniture and fixtures | 5-12 years | |||||||
Software | 3-5 years | |||||||
Leasehold improvements | Life of lease | |||||||
Property, plant, and equipment consisted of the following (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Building and improvements | $ | 11,229.90 | $ | 9,897.80 | ||||
Machinery and equipment | 58.2 | 39.5 | ||||||
Lab equipment | 2,743.70 | 1,800.60 | ||||||
Furniture and fixtures | 958 | 683.7 | ||||||
Software | 203.1 | 99.5 | ||||||
Leasehold improvements | 674.1 | 654.5 | ||||||
Property, plant and equipment, gross | 15,867.00 | 13,175.60 | ||||||
Accumulated depreciation | (3,022.8 | ) | (2,022.5 | ) | ||||
Property, plant and equipment, net | $ | 12,844.20 | $ | 11,153.10 | ||||
Loss_Per_Share_Tables
Loss Per Share (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Loss Per Share [Abstract] | ' | |||||
ScheduleOfDilutiveSecuritiesExcludedFromComputationOfEarningsPerShare [Table Text Block] | ' | |||||
At December 31, 2013 and 2012, the Company excluded the following potentially dilutive securities: | ||||||
December 31, | ||||||
2013 | 2012 | |||||
Stock Options | 2,932,191 | 2,168,668 | ||||
Warrants | 4,898,266 | 5,528,761 | ||||
Restricted Shares | 78,500 | 34,250 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Table Text Block] | ' | |||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2013, and December 31, 2012 (in thousands): | ||||||||||||
31-Dec-13 | ||||||||||||
Fair Value Measurements Using Fair Value Hierarchy | ||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||
Warrant derivative liabilities | $ | — | $ | — | $ | 23.2 | ||||||
Contingent consideration | — | — | 9,450.00 | |||||||||
December 31, 2012 | ||||||||||||
Fair Value Measurements Using Fair Value Hierarchy | ||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||
Warrant derivative liabilities | $ | — | $ | — | $ | 101.2 | ||||||
Contingent consideration | — | — | 7,550.00 | |||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||
For those financial instruments with significant Level 3 inputs, the following table summarizes the activity for the year ended December 31, 2013 by type of instrument (in thousands): | ||||||||||||
Year Ended | ||||||||||||
December 31, 2013 | ||||||||||||
Warrants | Contingent Consideration | |||||||||||
Beginning liability balance | $ | 101.2 | $ | 7,550.00 | ||||||||
Change in fair value recorded in earnings | (78.0 | ) | 1,900.00 | |||||||||
Ending liability balance | $ | 23.2 | $ | 9,450.00 | ||||||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ' | |||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets by Major Class [Table Text Block] | ' | |||||||||||||||||||||||||
s of December 31, 2013 and December 31, 2012 consisted of the following (in thousands): | ||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||
Useful Life | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | ||||||||||||||||||||
Customer list | 10 years | $ | 1,000.00 | $ | (295.1 | ) | $ | 704.9 | $ | 1,000.00 | $ | (195.1 | ) | $ | 804.9 | |||||||||||
Manufacturing technology | 10 years | 3,900.00 | (1,150.9 | ) | 2,749.10 | 3,900.00 | (760.9 | ) | 3,139.10 | |||||||||||||||||
Tradename | 10 years | 800 | (236.1 | ) | 563.9 | 800 | (156.1 | ) | 643.9 | |||||||||||||||||
In process R&D | Indefinite | 9,400.00 | — | 9,400.00 | 9,400.00 | — | 9,400.00 | |||||||||||||||||||
VSEL patent rights | 19 years | 669 | (211.3 | ) | 457.7 | 669 | (176.1 | ) | 492.9 | |||||||||||||||||
Total Intangible Assets | $ | 15,769.00 | $ | (1,893.4 | ) | $ | 13,875.60 | $ | 15,769.00 | $ | (1,288.2 | ) | $ | 14,480.80 | ||||||||||||
Schedule of Amortization Expense [Table Text Block] | ' | |||||||||||||||||||||||||
Total intangible amortization expense was classified in the operating expense categories for the periods included below as follows (in thousands): | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Cost of revenue | $ | 390 | $ | 390 | ||||||||||||||||||||||
Research and development | 35.2 | 35.2 | ||||||||||||||||||||||||
Selling, general and administrative | 180 | 180 | ||||||||||||||||||||||||
Total | $ | 605.2 | $ | 605.2 | ||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | |||||||||||||||||||||||||
Estimated intangible amortization expense on an annual basis for the succeeding five years is as follow (in thousands): | ||||||||||||||||||||||||||
2014 | $ | 605.2 | ||||||||||||||||||||||||
2015 | 605.2 | |||||||||||||||||||||||||
2016 | 605.2 | |||||||||||||||||||||||||
2017 | 605.2 | |||||||||||||||||||||||||
2018 | 605.2 | |||||||||||||||||||||||||
Thereafter | 10,849.60 | |||||||||||||||||||||||||
$ | 13,875.60 | |||||||||||||||||||||||||
Accrued_Liabilities_Accrued_Li
Accrued Liabilities Accrued Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
Accrued liabilities were as follow (in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Salaries, employee benefits and related taxes | $ | 2,325.80 | $ | 1,597.20 | ||||
Professional fees | 544.8 | 606.6 | ||||||
License fees | 500 | — | ||||||
Other | 647.4 | 81 | ||||||
$ | 4,018.00 | $ | 2,284.80 | |||||
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Shareholdersb Equity [Abstract] | ' | |||||||||||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | |||||||||||||||||||||||||
The number of remaining shares authorized to be issued under the various equity plans are as follows: | ||||||||||||||||||||||||||
2003 Equity Plan | 2009 Equity Plan | |||||||||||||||||||||||||
Shares Authorized for Issuance | 250,000 | 5,995,000 | ||||||||||||||||||||||||
Outstanding Stock Options | (136,480 | ) | (2,795,711 | ) | ||||||||||||||||||||||
Exercised Stock Options | (9,250 | ) | (31,869 | ) | ||||||||||||||||||||||
Restricted stock or equity grants issued under Equity Plans | (88,993 | ) | (595,852 | ) | ||||||||||||||||||||||
Shares Expired | (15,277 | ) | — | |||||||||||||||||||||||
Total common shares remaining to be issued under the Equity Plans | — | 2,571,568 | ||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes the activity for stock options and warrants for the years ended December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||
Stock Options | Warrants | |||||||||||||||||||||||||
Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (In Thousands) | Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (In Thousands) | |||||||||||||||||||
Outstanding at December 31, 2012 | 2,168,668 | $ | 12.85 | 6.8 | $ | 1,658.10 | 5,528,761 | $ | 15.65 | 3.6 | $ | 1,300.00 | ||||||||||||||
Changes during the Year: | ||||||||||||||||||||||||||
Granted | 959,167 | $ | 7.01 | 86,250 | $ | 6.66 | ||||||||||||||||||||
Exercised | (31,369 | ) | $ | 4.8 | (563,166 | ) | $ | 5.38 | ||||||||||||||||||
Forfeited | (89,412 | ) | $ | 5.54 | (17,500 | ) | $ | 14.2 | ||||||||||||||||||
Expired | (74,863 | ) | $ | 15.4 | (136,079 | ) | $ | 20.15 | ||||||||||||||||||
Outstanding at December 31, 2013 | 2,932,191 | $ | 11.19 | 6.8 | $ | 1,658.10 | 4,898,266 | $ | 16.5 | 2.6 | $ | 1,811.00 | ||||||||||||||
Vested at December 31, 2013 or expected to vest in the future | 2,816,138 | $ | 11.36 | 6.7 | $ | 1,604.00 | 4,884,957 | $ | 16.35 | 2.6 | $ | 1,811.00 | ||||||||||||||
Exercisable at December 31, 2013 | 2,231,869 | $ | 12.14 | 6.4 | $ | 1,283.30 | 4,780,658 | $ | 15.41 | 2.6 | $ | 1,811.00 | ||||||||||||||
The following table summarizes the components of share-based compensation expense for the year ended December 31, 2013 and 2012 ($ in thousands): | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Cost of goods sold | $ | 314 | $ | 195 | ||||||||||||||||||||||
Research and development | 822.2 | 432.9 | ||||||||||||||||||||||||
Selling, general and administrative | 5,702.50 | 6,084.60 | ||||||||||||||||||||||||
Total share-based compensation expense | $ | 6,838.70 | $ | 6,712.50 | ||||||||||||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | |||||||||||||||||||||||||
During the year ended December 31, 2013 and 2012, the Company issued warrants for services as follows ($ in thousands, except share data): | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Number of Common Stock Purchase Warrants Issued | 40,407 | 41,969 | ||||||||||||||||||||||||
Value of Common Stock Purchase Warrants Issued | $ | 149.9 | $ | 172.2 | ||||||||||||||||||||||
Restricted Stock [Table Text Block] | ' | |||||||||||||||||||||||||
During the year ended December 31, 2013 and 2012, the Company issued restricted stock for services as follows ($ in thousands, except share data): | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Number of Restricted Stock Issued | 514,700 | 229,553 | ||||||||||||||||||||||||
Value of Restricted Stock Issued | $ | 3,360.00 | $ | 1,325.10 | ||||||||||||||||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes the activity for stock options and warrants for the years ended December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||
Stock Options | Warrants | |||||||||||||||||||||||||
Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (In Thousands) | Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (In Thousands) | |||||||||||||||||||
Outstanding at December 31, 2012 | 2,168,668 | $ | 12.85 | 6.8 | $ | 1,658.10 | 5,528,761 | $ | 15.65 | 3.6 | $ | 1,300.00 | ||||||||||||||
Changes during the Year: | ||||||||||||||||||||||||||
Granted | 959,167 | $ | 7.01 | 86,250 | $ | 6.66 | ||||||||||||||||||||
Exercised | (31,369 | ) | $ | 4.8 | (563,166 | ) | $ | 5.38 | ||||||||||||||||||
Forfeited | (89,412 | ) | $ | 5.54 | (17,500 | ) | $ | 14.2 | ||||||||||||||||||
Expired | (74,863 | ) | $ | 15.4 | (136,079 | ) | $ | 20.15 | ||||||||||||||||||
Outstanding at December 31, 2013 | 2,932,191 | $ | 11.19 | 6.8 | $ | 1,658.10 | 4,898,266 | $ | 16.5 | 2.6 | $ | 1,811.00 | ||||||||||||||
Vested at December 31, 2013 or expected to vest in the future | 2,816,138 | $ | 11.36 | 6.7 | $ | 1,604.00 | 4,884,957 | $ | 16.35 | 2.6 | $ | 1,811.00 | ||||||||||||||
Exercisable at December 31, 2013 | 2,231,869 | $ | 12.14 | 6.4 | $ | 1,283.30 | 4,780,658 | $ | 15.41 | 2.6 | $ | 1,811.00 | ||||||||||||||
The following table summarizes the components of share-based compensation expense for the year ended December 31, 2013 and 2012 ($ in thousands): | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Cost of goods sold | $ | 314 | $ | 195 | ||||||||||||||||||||||
Research and development | 822.2 | 432.9 | ||||||||||||||||||||||||
Selling, general and administrative | 5,702.50 | 6,084.60 | ||||||||||||||||||||||||
Total share-based compensation expense | $ | 6,838.70 | $ | 6,712.50 | ||||||||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | |||||||||||||||||||||||||
Total compensation cost related to nonvested awards not yet recognized and the weighted-average periods over which the awards are expected to be recognized at December 31, 2013 were as follows ($ in thousands): | ||||||||||||||||||||||||||
Stock Options | Warrants | Restricted Stock | ||||||||||||||||||||||||
Unrecognized compensation cost | $ | 2,422.20 | $ | 55.6 | $ | 335.6 | ||||||||||||||||||||
Expected weighted-average period in years of compensation cost to be recognized | 3.51 | 1.54 | 0.38 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | ' | |||||||||||||||||||||||||
Total fair value of shares vested and the weighted average estimated fair values of shares grant for the year ended December 31, 2013 and 2012 were as follows ($ in thousands): | ||||||||||||||||||||||||||
Stock Options | Warrants | |||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Total fair value of shares vested | $ | 3,375.70 | $ | 5,408.00 | $ | 129 | $ | 171.6 | ||||||||||||||||||
Weighted average estimated fair value of shares granted | 4.29 | 3.63 | 3.71 | 4.1 | ||||||||||||||||||||||
Schedule of Range of Fair Value of Stock Options and Warrants [Table Text Block] | ' | |||||||||||||||||||||||||
The range of assumptions made in calculating the fair values of stock options and warrants was as follow: | ||||||||||||||||||||||||||
Stock Options | Warrants | |||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Expected term - minimum (in years) | 1 | 2 | 2 | 2 | ||||||||||||||||||||||
Expected term - maximum (in years) | 10 | 10 | 5 | 5 | ||||||||||||||||||||||
Expected volatility - minimum | 61% | 73% | 73% | 76% | ||||||||||||||||||||||
Expected volatility - maximum | 79% | 84% | 79% | 83% | ||||||||||||||||||||||
Expected dividend yield | — | — | — | — | ||||||||||||||||||||||
Risk-free interest rate - minimum | 0.13% | 0.28% | 0.32% | 0.27% | ||||||||||||||||||||||
Risk-free interest rate - maximum | 2.67% | 1.99% | 1.73% | 0.88% |
Income_Taxes_income_taxes_Tabl
Income Taxes income taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||
Years Ended December 31, | |||||||||
2013 | 2012 | ||||||||
U.S. Federal benefit at statutory rate | (13,159.8 | ) | (12,334.1 | ) | |||||
State and local benefit net of U.S. federal tax | (3,430.9 | ) | (2,154.1 | ) | |||||
Permanent non deductible expenses for U.S. taxes | 1,798.20 | (2,781.4 | ) | ||||||
True-up of prior year net operating loss | (91.4 | ) | 321.6 | ||||||
Return to actual | (3,822.9 | ) | (384.8 | ) | |||||
Foreign earnings not permanently reinvested | — | (1,810.3 | ) | ||||||
Effect of change in deferred tax rate | (1,094.8 | ) | 525.7 | ||||||
Valuation allowance for deferred tax assets | 20,581.70 | 18,441.90 | |||||||
Tax provision | $ | 780.1 | $ | (175.5 | ) | ||||
Deferred income taxes at December 31, 2013 and 2012 consist of the following ($ in thousands): | |||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||
Years Ended December 31, | |||||||||
2,013 | 2012 | ||||||||
United States | $ | (38,705.2 | ) | $ | (36,276.9 | ) | |||
$ | (38,705.2 | ) | $ | (36,276.9 | ) | ||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||
Years Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Current | |||||||||
US Federal | $ | — | $ | — | |||||
State and local | — | — | |||||||
$ | — | $ | — | ||||||
Deferred | |||||||||
US Federal | $ | 476.9 | $ | — | |||||
State and local | 303.2 | (175.5 | ) | ||||||
$ | 780.1 | $ | (175.5 | ) | |||||
Total | |||||||||
US Federal | $ | 476.9 | $ | — | |||||
State and local | 303.2 | (175.5 | ) | ||||||
$ | 780.1 | $ | (175.5 | ) | |||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Deferred Tax Assets: | |||||||||
Accumulated net operating losses (tax effected) | $ | 43,334.80 | $ | 25,727.70 | |||||
Deferred revenue | 10.5 | 23.1 | |||||||
Contingent accounts payable | 13.6 | 15.2 | |||||||
Share-based compensation | 7,971.90 | 5,466.70 | |||||||
Intangibles | 704.6 | 287.3 | |||||||
Accumulated depreciation | — | 348.7 | |||||||
Charitable contributions | 414.9 | 391.8 | |||||||
Bad debt provision | 304.3 | 239.7 | |||||||
Capital loss carry-forward | 7,036.80 | 6,644.50 | |||||||
Deferred tax assets prior to tax credit carryovers | 59,791.40 | 39,144.70 | |||||||
Deferred Tax Liabilities: | |||||||||
Accumulated depreciation | $ | (64.8 | ) | $ | — | ||||
Intangible and indefinite lived assets | (4,379.2 | ) | (3,599.1 | ) | |||||
Deferred tax liabilities | (4,444 | ) | (3,599.1 | ) | |||||
55,347.40 | 35,545.60 | ||||||||
Valuation reserve | (59,726.6 | ) | (39,144.7 | ) | |||||
Net deferred tax liability | $ | (4,379.2 | ) | $ | (3,599.1 | ) |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | |||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||
Stock in our balance sheet. The fair values of the canceled options and warrants were based on the Black-Scholes values on the date of sale, and were recorded against Additional Paid in Capital in the accompanying balance sheet. The Company recognized the following loss on the date of sale of its 51% interest in Erye (in thousands): | ||||
Fair value of consideration received | $ | 13,397.90 | ||
Carrying value of segment non-controlling interest | 6,015.00 | |||
Carrying value of segment accumulated comprehensive income | 4,387.40 | |||
$ | 23,800.30 | |||
Less carrying amount of assets and liabilities sold: | ||||
Cash | $ | 8,457.50 | ||
Restricted Cash | 2,918.10 | |||
Accounts Receivable | 6,130.20 | |||
Inventories | 15,077.70 | |||
Prepaid expenses and other current assets | 957.8 | |||
Property, plant and equipment, net | 38,102.00 | |||
Other assets | 5,946.30 | |||
Accounts payable | (9,604.8 | ) | ||
Accrued liabilities | (2,008.8 | ) | ||
Bank loans | (15,133.5 | ) | ||
Notes payable | (6,599.3 | ) | ||
Other liabilities | (9,166.8 | ) | ||
Amount due related party | (7,859.7 | ) | ||
$ | 27,216.70 | |||
Loss on exit of segment | $ | (3,416.4 | ) | |
Balance Sheet [Member] | Regenerative Medicine - China segment [Member] | ' | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | |||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||
As of March 31, 2012, the Company recognized the following loss on exit of the Regenerative Medicine-China business (in thousands): | ||||
Cash | $ | 195.1 | ||
Prepaid expenses and other current assets | 14.9 | |||
Property, plant and equipment, net | 1,023.70 | |||
Other Assets | 330.5 | |||
Accounts payable | (177.1 | ) | ||
Accrued liabilities | (79.2 | ) | ||
Accumulated comprehensive income | (169.9 | ) | ||
Loss on exit of segment | $ | 1,138.00 | ||
Income Statement [Member] | Regenerative Medicine - China segment [Member] | ' | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | |||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||
Year Ended December 31, | ||||
2012 | ||||
Revenue | $ | 52.3 | ||
Cost of revenues | (30.6 | ) | ||
Research and development | (103.3 | ) | ||
Selling, general, and administrative | (497.3 | ) | ||
Other income (expense) | (6.8 | ) | ||
Loss on exit of segment | (1,138.0 | ) | ||
Loss from discontinued operations | $ | (1,723.7 | ) | |
Income Statement [Member] | Pharmaceutical Manufacturing - China business [Member] | ' | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | |||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||
Year Ended December 31, | ||||
2012 | ||||
Revenue | $ | 61,703.10 | ||
Cost of revenues | (40,245.2 | ) | ||
Research and development | (1,836.4 | ) | ||
Selling, general, and administrative | (10,740.0 | ) | ||
Other expense | (1,045.2 | ) | ||
Provision for income taxes | (1,794.1 | ) | ||
Asset impairments | (31,170.1 | ) | ||
Loss on sale of segment | (3,416.4 | ) | ||
Loss from discontinued operations | $ | (28,544.3 | ) |
Discontinued_Operations_Fair_v
Discontinued Operations Fair value of discontinued operations (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||
Stock in our balance sheet. The fair values of the canceled options and warrants were based on the Black-Scholes values on the date of sale, and were recorded against Additional Paid in Capital in the accompanying balance sheet. The Company recognized the following loss on the date of sale of its 51% interest in Erye (in thousands): | ||||
Fair value of consideration received | $ | 13,397.90 | ||
Carrying value of segment non-controlling interest | 6,015.00 | |||
Carrying value of segment accumulated comprehensive income | 4,387.40 | |||
$ | 23,800.30 | |||
Less carrying amount of assets and liabilities sold: | ||||
Cash | $ | 8,457.50 | ||
Restricted Cash | 2,918.10 | |||
Accounts Receivable | 6,130.20 | |||
Inventories | 15,077.70 | |||
Prepaid expenses and other current assets | 957.8 | |||
Property, plant and equipment, net | 38,102.00 | |||
Other assets | 5,946.30 | |||
Accounts payable | (9,604.8 | ) | ||
Accrued liabilities | (2,008.8 | ) | ||
Bank loans | (15,133.5 | ) | ||
Notes payable | (6,599.3 | ) | ||
Other liabilities | (9,166.8 | ) | ||
Amount due related party | (7,859.7 | ) | ||
$ | 27,216.70 | |||
Loss on exit of segment | $ | (3,416.4 | ) |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
A summary of future minimum rental payments required under operating leases that have initial or remaining terms in excess of one year as of December 31, 2013 are as follows (in thousands): | |||||
Years ended | Operating Leases | ||||
2014 | $ | 1,004.00 | |||
2015 | 829.9 | ||||
2016 | 671.8 | ||||
2017 | 383.4 | ||||
2018 | 5.9 | ||||
Total minimum lease payments | $ | 2,895.00 | |||
Equity_Plan_Tables
Equity Plan (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Statement of Stockholders' Equity [Abstract] | ' | ||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | ||||||
The number of remaining shares authorized to be issued under the various equity plans are as follows: | |||||||
2003 Equity Plan | 2009 Equity Plan | ||||||
Shares Authorized for Issuance | 250,000 | 5,995,000 | |||||
Outstanding Stock Options | (136,480 | ) | (2,795,711 | ) | |||
Exercised Stock Options | (9,250 | ) | (31,869 | ) | |||
Restricted stock or equity grants issued under Equity Plans | (88,993 | ) | (595,852 | ) | |||
Shares Expired | (15,277 | ) | — | ||||
Total common shares remaining to be issued under the Equity Plans | — | 2,571,568 | |||||
The_Business_Details
The Business (Details) | 0 Months Ended | |
Jun. 18, 2012 | Jun. 19, 2012 | |
segment | segment | |
The Company [Line Items] | ' | ' |
Number of Reporting Segments | 3 | 1 |
The_Business_Principal_of_cons
The Business Principal of consolidation (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
NeoStem, Inc. [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
Minority Interest Ownership Percentage By Parent [String] | 'ParentB Company |
NeoStem, Inc. [Member] | Location [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
The Business [Text Block] | 'United States of America |
NeoStem Therapies, Inc [Member] | Location [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
The Business [Text Block] | 'United States of America |
NeoStem Therapies, Inc [Member] | UNITED STATES | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary, Ownership Interest by Parent | 100.00% |
Stem Cell Technologies, Inc [Member] | Location [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
The Business [Text Block] | 'United States of America |
Stem Cell Technologies, Inc [Member] | UNITED STATES | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary, Ownership Interest by Parent | 100.00% |
Amorcyte, LLC [Member] | Location [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
The Business [Text Block] | 'United States of America |
Amorcyte, LLC [Member] | UNITED STATES | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary, Ownership Interest by Parent | 100.00% |
China Biopharmaceuticals Holdings, Inc. [Member] | UNITED STATES | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% |
Suzhou Erye Pharmaceuticals Company Ltd. [Member] | CHINA | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 51.00% |
Progenitor Cell Therapy, LLC [Member] | Location [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
The Business [Text Block] | 'United States of America |
Progenitor Cell Therapy, LLC [Member] | UNITED STATES | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary, Ownership Interest by Parent | 100.00% |
NeoStem Family Storage, LLC [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
Minority Interest Ownership Percentage By Parent [String] | '1 |
NeoStem Family Storage, LLC [Member] | Location [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
The Business [Text Block] | 'United States of America |
NeoStem Family Storage, LLC [Member] | UNITED STATES | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% |
Athelos Corporation [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
Minority Interest Ownership Percentage By Parent [String] | '0.885 |
Athelos Corporation [Member] | Location [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
The Business [Text Block] | 'United States of America |
Athelos Corporation [Member] | UNITED STATES | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 80.10% |
PCT Allendale, LLC [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
Minority Interest Ownership Percentage By Parent [String] | '1 |
PCT Allendale, LLC [Member] | Location [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
The Business [Text Block] | 'United States of America |
PCT Allendale, LLC [Member] | UNITED STATES | ' |
Schedule of Subisidiary [Line Items] | ' |
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% |
Noncontrolling Interest [Member] | ' |
Schedule of Subisidiary [Line Items] | ' |
Change in Ownership in Subsidiary | 300,000 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Clinical Services Reimbursement | $2.10 | $3.50 |
Revene Recognition Period for Cryoperservation Process | '24 hours | ' |
Building and Building Improvements [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P25Y | ' |
Building and Building Improvements [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P30Y | ' |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P8Y | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P12Y | ' |
Lab Equipment [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P5Y | ' |
Lab Equipment [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P7Y | ' |
Furniture and Fixtures [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P5Y | ' |
Furniture and Fixtures [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P12Y | ' |
Software [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P3Y | ' |
Software [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'P5Y | ' |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'life of lease | ' |
Cash_and_Cash_Equivalents_Deta
Cash and Cash Equivalents (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Cash and cash equivalents | $46,133,759 | $13,737,452 |
Cash, FDIC Insured Amount | $700,000 | $800,000 |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Inventory [Line Items] | ' | ' |
Inventory | $1,270,223 | $1,113,025 |
Multiple Stage Contracts [Member] | ' | ' |
Schedule of Inventory [Line Items] | ' | ' |
Deferred Revenue | $1,500,000 | $1,200,000 |
Property_Plant_Equipment_Detai
Property, Plant & Equipment (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Line Items] | ' | ' |
Buildings and Improvements, Gross | $11,229,900 | $9,897,800 |
Machinery and Equipment, Gross | 58,200 | 39,500 |
Property, Plant and Equipment, Other, Gross | 2,743,700 | 1,800,600 |
Furniture and Fixtures, Gross | 958,000 | 683,700 |
Capitalized Computer Software, Gross | 203,100 | 99,500 |
Leasehold Improvements, Gross | 674,100 | 654,500 |
Property, Plant and Equipment, Gross | 15,867,000 | 13,175,600 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 3,022,800 | 2,022,500 |
Property, plant and equipment, net | 12,844,216 | 11,153,143 |
Depreciation, Depletion and Amortization | 1,000,000 | 1,000,000 |
Property, Plant and Equipment, Other Types [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, net | $12,844,200 | $11,153,100 |
Loss_Per_Share_Details
Loss Per Share (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Options [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Dilutive Securities Excluded From Computation Of Earnings Per Share, Shares | 2,932,191 | 2,168,668 |
Warrant [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Dilutive Securities Excluded From Computation Of Earnings Per Share, Shares | 4,898,266 | 5,528,761 |
Restricted Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Dilutive Securities Excluded From Computation Of Earnings Per Share, Shares | 78,500 | 34,250 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (contingent cosideration [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
contingent cosideration [Member] | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Fair Value Inputs Discount Rate | 18.00% |
Fair_Value_Measurements_Fair_v
Fair Value Measurements Fair value hierarchy the Companybs financial assets and liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Acquisition-related contingent consideration | $9,450,000 | $7,550,000 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Warrant Derivative Liabilities | 0 | 0 |
Contingent Consideration Classified As Equity Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Warrant Derivative Liabilities | 0 | 0 |
Contingent Consideration Classified As Equity Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Warrant Derivative Liabilities | 23,200 | 101,200 |
Contingent Consideration Classified As Equity Fair Value Disclosure | $9,450,000 | $7,550,000 |
Fair_Value_Measurements_Financ
Fair Value Measurements Financial instruments with significant Level 3 inputs (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative Financial Instruments, Liabilities [Member] | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Begining liability balance | ' | $391,700 |
Change in fair value recorded in earnings | ' | -391,700 |
Begining liability balance | ' | 0 |
Warrant [Member] | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Begining liability balance | 101,200 | 82,700 |
Change in fair value recorded in earnings | -78,000 | 18,500 |
Begining liability balance | 23,200 | 101,200 |
contingent cosideration [Member] | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Begining liability balance | 7,550,000 | 3,130,000 |
Change in fair value recorded in earnings | 1,900,000 | 4,420,000 |
Begining liability balance | $9,450,000 | $7,550,000 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets Goodwill (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Future Amortization Expense, Year One | $605,200 | ' |
Future Amortization Expense, Year Two | 605,200 | ' |
Future Amortization Expense, Year Three | 605,200 | ' |
Future Amortization Expense, Year Four | 605,200 | ' |
Future Amortization Expense, Year Five | 605,200 | ' |
Future Amortization Expense, after Year Five | 10,849,600 | ' |
Finite-Lived Intangible Assets, Net | 13,875,600 | 14,480,800 |
Goodwill [Roll Forward] | ' | ' |
Goodwill, as of December 31, 2011 | 11,117,770 | 11,117,770 |
Goodwill, as of June 30, 2012 | $11,117,770 | $11,117,770 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets Intangible Assets and Related Accumulated Amortization (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | $15,769,000 | $15,769,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | -1,893,400 | -1,288,200 |
Finite-Lived Intangible Assets, Net | 13,875,600 | 14,480,800 |
Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 1,000,000 | 1,000,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | -295,100 | -195,100 |
Finite-Lived Intangible Assets, Net | 704,900 | 804,900 |
Finite-Lived Intangible Assets, Useful Life | '10 years | ' |
Manufacturing Technology [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 3,900,000 | 3,900,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | -1,150,900 | -760,900 |
Finite-Lived Intangible Assets, Net | 2,749,100 | 3,139,100 |
Finite-Lived Intangible Assets, Useful Life | '10 years | ' |
Trade Names [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 800,000 | 800,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | -236,100 | -156,100 |
Finite-Lived Intangible Assets, Net | 563,900 | 643,900 |
Finite-Lived Intangible Assets, Useful Life | '10 years | ' |
In Process R&D [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 9,400,000 | 9,400,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 |
Finite-Lived Intangible Assets, Net | 9,400,000 | 9,400,000 |
Finite Lived Intangible Assets, Useful Life [String] | 'Indefinite | ' |
VSEL Patent Rights [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 669,000 | 669,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | -211,300 | -176,100 |
Finite-Lived Intangible Assets, Net | $457,700 | $492,900 |
Finite-Lived Intangible Assets, Useful Life | '19 years | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets Intangible Amortization Expense (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Intangible Asset Amortization Expense By Category [Line Items] | ' | ' |
Amortization of Intangible Assets | $605,200 | $605,200 |
Cost of Sales [Member] | ' | ' |
Intangible Asset Amortization Expense By Category [Line Items] | ' | ' |
Amortization of Intangible Assets | 390,000 | 390,000 |
General and Administrative Expense [Member] | ' | ' |
Intangible Asset Amortization Expense By Category [Line Items] | ' | ' |
Amortization of Intangible Assets | 180,000 | 180,000 |
Research and Development Expense [Member] | ' | ' |
Intangible Asset Amortization Expense By Category [Line Items] | ' | ' |
Amortization of Intangible Assets | $35,200 | $35,200 |
Accrued_Liabilities_Accrued_Li1
Accrued Liabilities Accrued Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Accrued Liabilities [Abstract] | ' | ' |
Employee-related Liabilities | $2,325.80 | $1,597.20 |
Accrued Professional Fees | 544.8 | 606.6 |
Accrued Royalties, Current | 500 | 0 |
Other Accrued Liabilities | 647.4 | 81 |
Accrued Liabilities | $4,018 | $2,284.80 |
Debt_Details
Debt (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 06, 2010 | Dec. 31, 2013 | Dec. 31, 2012 |
Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | PCT Allendale, LLC [Member] | PCT Allendale, LLC [Member] | PCT Allendale, LLC [Member] | PCT Allendale, LLC [Member] | PCT Allendale, LLC [Member] | |||
Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | ||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable | $900,000 | $400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Subordinated Notes to Finance Leveraged Buyout | ' | ' | 3,100,000 | ' | ' | ' | ' | 1,000,000 | ' | ' |
Debt Instrument, Period of Loan | ' | ' | ' | ' | ' | ' | ' | '124 months | ' | ' |
Purchase of condominium units | ' | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Frequency of Periodic Payment | ' | ' | 'monthly payments | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Periodic Payment | ' | ' | ' | ' | ' | 20,766 | ' | ' | ' | ' |
Debt Instrument, Periodic Payment, Interest | ' | ' | ' | 5.00% | ' | ' | ' | 6.00% | ' | ' |
Debt Instrument, Period of Fixed Interest Rate | ' | ' | ' | ' | ' | ' | ' | '64 months | ' | ' |
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | ' | ' | ' | 2,500,000 | 2,600,000 | ' | ' | ' | 763,000 | 844,300 |
Mortgage Loan Repayble Amount within 12 months | ' | ' | ' | ' | ' | ' | $126,700 | ' | $86,400 | ' |
Debt_Debt_Disclosure_Details
Debt Debt Disclosure (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 06, 2010 | Dec. 31, 2013 | Dec. 31, 2012 |
Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | PCT Allendale, LLC [Member] | PCT Allendale, LLC [Member] | PCT Allendale, LLC [Member] | |||
Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable | $900,000 | $400,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate During Period | ' | ' | ' | 5.00% | ' | 6.00% | ' | ' |
Subordinated Notes to Finance Leveraged Buyout | ' | ' | 3,100,000 | ' | ' | 1,000,000 | ' | ' |
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | ' | ' | ' | $2,500,000 | $2,600,000 | ' | $763,000 | $844,300 |
Preferred_Stock_Convertible_Re
Preferred Stock Convertible Redeemable Series E Preferred Stock (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Oct. 25, 2012 | Nov. 19, 2010 | Nov. 19, 2010 | Dec. 31, 2013 | Sep. 30, 2012 | Nov. 19, 2010 | Nov. 19, 2010 | Nov. 19, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Series E Seven Percent Senior Convertible Preferred Stock [Member] | Series E Seven Percent Senior Convertible Preferred Stock [Member] | Warrant to purchase 0.25 of a share of Common Stock [Member] | Warrant to purchase 0.25 of a share of Common Stock [Member] | Warrant to purchase 0.0155 of a share of Common Stock [Member] | Preferred Offering Unit [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | ||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of Preferred Shares Required to be Redeemed Monthly | ' | ' | ' | ' | ' | ' | 3.70% | ' | ' | ' | ' | ' | ' | ' |
Preferred Offering Units | ' | ' | ' | ' | 10,582,011 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares of Preferred Stock Included in Preferred Offering Unit | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | $0.01 | $0.01 | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | 0.25 | 0.0155 | ' | ' | ' | ' |
Stock and Warrants Issued During Period, Shares, Preferred Stock and Warrants | ' | ' | ' | ' | ' | ' | ' | 222,446 | 132,249 | 16,442 | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | $5.60 | ' | $0.95 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds from issuance of capital stock | $58,736,165 | $16,428,827 | ' | ' | ' | ' | ' | ' | ' | ' | $10,000,000 | ' | ' | ' |
Net Proceeds from Issuance or Sale of Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,900,000 | ' | ' | ' |
Preferred Stock, Shares Outstanding | 10,000 | 10,000 | ' | 2,351,558 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued in payment of dividends for the Convertible Redeemable Series E 7% Preferred Stock | 3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from (Repurchase of) Redeemable Preferred Stock | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Dividends, Preferred Stock and Preference Stock | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Repurchase of Redeemable Preferred Stock | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Interest Payable, Net | 36,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $23,200 | $101,200 | $82,700 |
Shareholders_Equity_Details
Shareholders' Equity (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||||||||
Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 11, 2014 | Jun. 30, 2013 | Nov. 19, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2011 | Sep. 28, 2011 | Sep. 30, 2012 | Oct. 10, 2012 | Oct. 14, 2011 | Jun. 02, 2010 | Oct. 29, 2009 | Oct. 31, 2013 | Oct. 10, 2012 | Oct. 14, 2011 | Jan. 18, 2011 | Jun. 02, 2010 | Oct. 29, 2009 | 9-May-09 | |
Common Stock [Member] | Common Stock [Member] | Warrant holder A [Member] | Aspire Capital Purchase Agreement [Member] | Aspire Capital Purchase Agreement [Member] | Private Placement [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | |||||||
Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | |||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized | ' | 500,000,000 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 570,000 | 570,000 | 870,000 | 470,000 | 2,600,000 | 450,000 | 2,375,000 | 1,775,000 | 1,375,000 | 975,000 | 380,000 |
weighted average estimated fair value of restricted stock | $5.77 | $6.53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | ' | 514,700 | 229,553 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | ' | 9,712,724 | 3,573,229 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Par or Stated Value Per Share | ' | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Warrant Exercises | ' | $3,028,241 | $6,604,418 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant inducements | ' | 0 | -1,012,819 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant inducements | ' | 40,407 | 41,969 | ' | ' | ' | 0 | 145,895 | ' | ' | ' | 161,290 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Warrants, Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Committment Value Under Purchase Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Of Agreement In Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount Applied To Weighted Average Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares, Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99,010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | ' | $5.60 | $0.95 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross | ' | $3,360,000 | $1,325,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shareholders_Equity_Components
Shareholders' Equity Components of share-based compensation expense (Details) (USD $) | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Nov. 19, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 31, 2013 | Oct. 10, 2012 | Oct. 14, 2011 | Jan. 18, 2011 | Jun. 02, 2010 | Oct. 29, 2009 | 9-May-09 | Oct. 10, 2012 | Oct. 14, 2011 | Jun. 02, 2010 | Oct. 29, 2009 | Dec. 31, 2013 | Dec. 31, 2013 | |
Cost of Sales [Member] | Cost of Sales [Member] | Research and Development Expense [Member] | Research and Development Expense [Member] | General and Administrative Expense [Member] | General and Administrative Expense [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | 2009 Equity Plan [Member] | 2003 Equity Plan [Member] | |||||
2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | US Equity Plan [Member] | US Equity Plan [Member] | |||||||||||
Employee Stock Option [Member] | Employee Stock Option [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | -4,780,658 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31,869 | -9,250 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -595,852 | -88,993 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15,277 |
Common Stock, Shares Authorized | 500,000,000 | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | 450,000 | 2,375,000 | 1,775,000 | 1,375,000 | 975,000 | 380,000 | 570,000 | 570,000 | 870,000 | 470,000 | 5,995,000 | 250,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,795,711 | -136,480 |
Sale of Stock, Price Per Share | ' | $5.60 | ' | $0.95 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Expense | $6,838,700 | ' | ' | ' | $314,000 | $195,000 | $822,200 | $432,900 | $5,702,500 | $6,084,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Outstanding | 27,196,537 | ' | 16,375,365 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,571,568 | 0 |
Shareholders_Equity_Activity_f
Shareholders' Equity Activity for stock options and warrants (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $1,658,100 | ' |
Common Stock, Shares, Outstanding | 27,196,537 | 16,375,365 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 1,283,300 | 1,658,100 |
Common Stock Warrants, Shares | ' | 5,528,761 |
Weighted Average Exercise Price, Warrants Outstanding | 16.5 | 15.65 |
Weighted Average Remaining Contractual Term warrant outstanding | '2 years 7 months 17 days | ' |
Weighted Average Remaining Contractual Term, Warrants Outstanding | ' | '3 years 7 months 6 days |
Aggregate Intrinsic Value, Warrants Outstanding | 1,811,000 | 1,300,000 |
Warrant inducements | 40,407 | 41,969 |
Share-based Compensation Arrangement by Share-based Payment Award, Options and Non-Option Equity Instruments, Outstanding [Roll Forward] | ' | ' |
Warrants Granted | 86,250 | ' |
Weighted Average Exercise Price, Warrants Granted | $6.66 | ' |
Warrants Exercised | -563,166 | ' |
Weighted Average Exercise Price, Warrants Exercised | $5.38 | ' |
Warrants Expired | -17,500 | ' |
Weighted Average Exercise Price, Warrants Expired | $14.20 | ' |
Warrants Canceled | -136,079 | ' |
Weighted Average Exercise Price, Warrants Canceled | $20.15 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | 1,604,000 | ' |
shares, vested and expected to vest | 4,884,957 | ' |
Weighted Average Exercise Price, Warrants vested & expected to vest | 16.35 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 4,780,658 | ' |
Weighted Average Exercise Price, Warrants Exercisable | 15.41 | ' |
weighted Average Remaining Contractual Term, warrants vested | '2 years 7 months 2 days | ' |
Aggregate Intrinsic Value, Warrants vested and expected to vest | 1,811,000 | ' |
Aggregate Intrinsic Value, Warrants vested | $1,811,000 | ' |
Warrant [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options and Non-Option Equity Instruments, Outstanding [Roll Forward] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $3.71 | $4.10 |
US Equity Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $11.19 | $12.85 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '6 years 9 months 22 days | '6 years 9 months 11 days |
Common Stock, Shares, Outstanding | 4,898,266 | ' |
Weighted Average Remaining Contractual Term, Warrants Vested and Expect to Vest | '2 years 7 months 13 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 2,816,138 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $11.36 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | '6 years 8 months 16 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 959,167 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $7.01 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options and Non-Option Equity Instruments, Outstanding [Roll Forward] | ' | ' |
Stock Options, Outstanding at December 31, 2011 | 2,168,668 | ' |
Stock Options Exercised | -31,369 | ' |
Stock Options Forfeited | -74,863 | ' |
Stock Options Expired | -89,412 | ' |
Stock Options, Outstanding at September 30, 2012 | 2,932,191 | 2,168,668 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $15.40 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $5.54 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $4.80 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 2,231,869 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $12.14 | ' |
Options, Vested, weighted Average Remaining Contractual Term | '6 years 4 months 24 days | ' |
Shareholders_Equity_Total_comp
Shareholders' Equity Total compensation cost related to nonvested awards (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2012 | Dec. 31, 2013 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
weighted average estimated fair value of restricted stock | $5.77 | $6.53 |
Restricted Stock [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Unrecognized compensation cost | ' | $335,600 |
Excepted weighted-average period in years of compensation cost to be recognized | ' | '4 months 17 days |
Warrant [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Unrecognized compensation cost | ' | 55,600 |
Excepted weighted-average period in years of compensation cost to be recognized | ' | '1 year 6 months 15 days |
Stock Option [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Unrecognized compensation cost | ' | $2,422,200 |
Excepted weighted-average period in years of compensation cost to be recognized | ' | '3 years 6 months 4 days |
Shareholders_Equity_Equity_Iss
Shareholders' Equity Equity Issuances (Details) (USD $) | 12 Months Ended | 0 Months Ended | 3 Months Ended | 2 Months Ended | |||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Nov. 19, 2010 | Sep. 30, 2011 | Sep. 28, 2011 | Sep. 30, 2012 | 3-May-13 | Dec. 31, 2013 | Oct. 31, 2013 | 1-May-13 | Feb. 28, 2013 | Dec. 31, 2013 | |
Aspire Capital Purchase Agreement [Member] | Aspire Capital Purchase Agreement [Member] | Private Placement [Member] | Aegis Capital Purchase Agreement [Member] | Aegis Capital Purchase Agreement [Member] | Aegis Capital Purchase Agreement [Member] | Aegis Capital Purchase Agreement [Member] | Aspire Capital Purchase Agreement [Member] | Aspire Capital Purchase Agreement [Member] | |||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Units offered | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 2,000,000 | ' | ' |
Committment Value Under Purchase Agreement | ' | ' | ' | ' | ' | $20,000,000 | ' | ' | ' | ' | ' | ' | ' |
Term Of Agreement In Months | ' | ' | ' | ' | ' | 24 | ' | ' | ' | ' | ' | ' | ' |
Discount Applied To Weighted Average Price | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' |
Warrant inducements | 40,407 | 41,969 | ' | ' | ' | ' | 161,290 | ' | ' | ' | ' | ' | ' |
Shares, Issued | ' | ' | ' | ' | 99,010 | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Warrants, Exercise Price | ' | ' | ' | ' | ' | ' | $6 | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | 27,196,537 | 16,375,365 | ' | ' | ' | ' | ' | ' | ' | 750,000 | 300,000 | 1,600,000 | ' |
Proceeds from issuance of common stock | 58,736,166 | 16,428,827 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,100,000 | ' |
Purchase Commitment, Remaining Minimum Amount Committed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,600,000 |
Sale of Stock, Price Per Share | ' | ' | $5.60 | $0.95 | ' | ' | ' | ' | ' | $7 | $5 | ' | ' |
Proceeds from Issuance of Common Stock Gross | ' | ' | ' | ' | ' | ' | ' | $11,500,000 | $40,300,000 | ' | ' | ' | ' |
Shareholders_Equity_Warrants_D
Shareholders' Equity Warrants (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Class of Warrant or Right [Line Items] | ' | ' |
Weighted Average Exercise Price, Warrants Exercised | $5.38 | ' |
Warrants Issued During Period, Value | $149,900 | $172,200 |
Warrant inducements | 40,407 | 41,969 |
Warrant holder A [Member] | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 600,000 | ' |
Warrant Inducement Per Share | 0.3 | ' |
Proceeds from Issuance of Warrants | $3,000,000 | ' |
Minimum [Member] | Warrant holder A [Member] | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Weighted Average Exercise Price, Warrants Exercised | $5.10 | ' |
Maximum [Member] | Warrant holder A [Member] | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Weighted Average Exercise Price, Warrants Exercised | $7.40 | ' |
Shareholders_Equity_Equity_Pla
Shareholders' Equity Equity Plan (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 31, 2013 | Oct. 10, 2012 | Oct. 14, 2011 | Jan. 18, 2011 | Jun. 02, 2010 | Oct. 29, 2009 | 9-May-09 | Oct. 10, 2012 | Oct. 14, 2011 | Jun. 02, 2010 | Oct. 29, 2009 | Dec. 31, 2013 |
Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | ESPP [Member] | |||
2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | 2009 Equity Plan [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | Non US Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 | 2,600,000 | 450,000 | 2,375,000 | 1,775,000 | 1,375,000 | 975,000 | 380,000 | 570,000 | 570,000 | 870,000 | 470,000 | 500,000 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% |
ESPP annual cap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,000 |
percentage of stock closing price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% |
percentage of ESPP closing price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% |
Shares, Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,052 |
Shares, Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 476,948 |
Shareholders_Equity_Options_De
Shareholders' Equity Options (Details) (USD $) | 12 Months Ended | |
Share data in Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 0.03 | ' |
Net proceeds from exercise of options | $150,658 | $0 |
Maximum [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $5.90 | ' |
Minimum [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $4 | ' |
ShareBased_Compensation_Detail
Share-Based Compensation (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Stock Option [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unrecognized compensation cost | $2,422,200 |
Excepted weighted-average period in years of compensation cost to be recognized | '3 years 6 months 4 days |
Warrant [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unrecognized compensation cost | 55,600 |
Excepted weighted-average period in years of compensation cost to be recognized | '1 year 6 months 15 days |
Restricted Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unrecognized compensation cost | $335,600 |
Excepted weighted-average period in years of compensation cost to be recognized | '4 months 17 days |
ShareBased_Compensation_ShareB
Share-Based Compensation Share-Based Compensation (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | $6,838,700 | ' |
Cost of Sales [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 314,000 | 195,000 |
Research and Development Expense [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 822,200 | 432,900 |
General and Administrative Expense [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Allocated Share-based Compensation Expense | 5,702,500 | 6,084,600 |
Warrant [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Stock Options, Requisite Service Period Recognition | 129,000 | 171,600 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 73.00% | 76.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 79.00% | 83.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 0.32% | 0.27% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 1.73% | 0.88% |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $3.71 | $4.10 |
Stock Options [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $4.29 | $3.63 |
Stock Option [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Stock Options, Requisite Service Period Recognition | $3,375,700 | $5,408,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 61.00% | 73.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 79.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 0.13% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 2.67% | 0.00% |
ShareBased_Compensation_Valuat
Share-Based Compensation Valuation Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Option [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 61.00% | 73.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 79.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 0.13% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 2.67% | 0.00% |
Warrant [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 73.00% | 76.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 79.00% | 83.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 0.32% | 0.27% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 1.73% | 0.88% |
Minimum [Member] | Stock Option [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Minimum | '1 year | '2 years |
Minimum [Member] | Warrant [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Minimum | '2 years | '2 years |
Maximum [Member] | Stock Option [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Minimum | '10 years | '10 years |
Maximum [Member] | Warrant [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Minimum | '5 years | '5 years |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Examination [Line Items] | ' | ' |
Current Federal Tax Expense (Benefit) | $476.90 | $0 |
Current State and Local Tax Expense (Benefit) | 303.2 | -175.5 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | ' |
Operating Loss Carryforwards | 110,600,000 | 77,100,000 |
Current Income Tax Expense (Benefit) | 780.1 | -175.5 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | -13,159,800 | -12,334,100 |
Income Tax Reconciliation, State and Local Income Taxes | -3,430,900 | -2,154,100 |
Permanent non deductible expenses for U.S. taxes | -1,798,200 | -2,781,400 |
Restatement of Prior Year Income, Net of Tax | -91,400 | 321,600 |
Income Tax Reconciliation, Other Adjustments | -3,822,900 | -384,800 |
Income Tax Reconciliation, Undistributed Foreign Earnings | 0 | -1,810,300 |
Income Tax Reconciliation, Change in Enacted Tax Rate | -1,094,800 | 525,700 |
Deferred Tax Assets, Valuation Allowance | 20,581,700 | 18,441,900 |
Unrecognized Tax Benefits Resulting in Net Operating Loss Carryforward | 43,334,800 | 25,727,700 |
Deferred Tax Assets, Deferred Income | 10,500 | 23,100 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 13,600 | 15,200 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 7,971,900 | 5,466,700 |
Deferred Tax Assets, Goodwill and Intangible Assets | 704,600 | 287,300 |
Deferred Tax Assets, Other | 0 | -348,700 |
Deferred Tax Assets, Charitable Contribution Carryforwards | 414,900 | 391,800 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | 304,300 | 239,700 |
Deferred Tax Assets, Capital Loss Carryforwards | 7,036,800 | 6,644,500 |
Deferred Tax Assets, Net | 59,791,400 | 39,144,700 |
Deferred Tax Liabilities Accumulated depreciation | 64,800 | 0 |
Deferred Tax Liabilities, Goodwill and Intangible Assets, Intangible Assets | -4,379,200 | -3,599,100 |
Deferred Income Tax Liabilities | -4,444,000 | -3,599,100 |
Deferred Tax Assets (Liabilities), Net | 55,347,400 | 35,545,600 |
Valuation Allowances and Reserves, Balance | -59,726,600 | -39,144,700 |
Deferred Tax Liabilities | $4,379,200 | $3,599,100 |
Income_Taxes_Net_Operating_Los
Income Taxes Net Operating Loss Carry Forward (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Loss Carryforwards [Line Items] | ' | ' |
Provision (benefit) for income taxes | $780,104 | ($175,533) |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | ' |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 12 Months Ended |
Dec. 31, 2012 | |
Regenerative Medicine - China segment [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Disposal Group, Including Discontinued Operation, Revenue | $52,300 |
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | 30,600 |
Disposal Group Including Discontinued Operation Research and Development | 103,300 |
Disposal Group Including Discontinued Operation Selling General and Administrative | 497,300 |
Disposal Group, Including Discontinued Operation, Operating Expense | 6,800 |
Loss on Exit of Segment | 1,138,000 |
Pharmaceutical Manufacturing - China business [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents | $8,457,500 |
CBH Acquisition LLC [Member] | Equity Purchase Agreement [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Equity Method Investment, Ownership Percentage | 51.00% |
Discontinued_Operations_Compan
Discontinued Operations Company recognized loss on exit (Details) (USD $) | 1 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | |
Regenerative Medicine - China segment [Member] | Gain (Loss) on Dispostion of Cash and Cash Equivalents [Member] | Gain (Loss) on Disposition of Prepaid Expenses and Other Current Assets [Member] | Gain (Loss) on Disposition of Property, Plant and Equipment, Net [Member] | Gain (Loss) on Disposition of Other Assets [Member] | Gain (Loss) on Disposition of Accounts Payable [Member] | Gain (Loss) on Disposition of Accrued Liabilities [Member] | Gain (Loss) on Disposition of Accumulated Comprehensive Income [Member] | Pharmaceutical Manufacturing - China business [Member] | |
Regenerative Medicine - China segment [Member] | Regenerative Medicine - China segment [Member] | Regenerative Medicine - China segment [Member] | Regenerative Medicine - China segment [Member] | Regenerative Medicine - China segment [Member] | Regenerative Medicine - China segment [Member] | Regenerative Medicine - China segment [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on exit of segment | $1,138,000 | $195,100 | $14,900 | $1,023,700 | $330,500 | ($177,100) | ($79,200) | ($169,900) | $3,416,400 |
Discontinued_Operations_The_op
Discontinued Operations The operating results of the Regenerative Medicine b China business (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Disposal Group, Including Discontinued Operation, Operating Income (Loss) | $0 | ($17,955,344) |
Regenerative Medicine - China segment [Member] | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Disposal Group, Including Discontinued Operation, Revenue | ' | 52,300 |
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | ' | -30,600 |
Disposal Group Including Discontinued Operation Research and Development | ' | -103,300 |
Disposal Group Including Discontinued Operation Selling General and Administrative | ' | -497,300 |
Disposal Group, Including Discontinued Operation, Operating Expense | ' | -6,800 |
Loss on Exit of Segment | ' | 1,138,000 |
Disposal Group, Including Discontinued Operation, Operating Income (Loss) | ' | ($1,723,700) |
Discontinued_Operations_The_su
Discontinued Operations The summary of assets and liabilities related to Regenerative Medicine - China business (Details) (USD $) | Dec. 31, 2012 |
Assets: | ' |
Assets of Disposal Group, Including Discontinued Operation | $23,800,300 |
Discontinued_Operations_The_op1
Discontinued Operations The operating results of pharmaceutical manufacturing - China business (Details) (Pharmaceutical Manufacturing - China business [Member], USD $) | 12 Months Ended |
Dec. 31, 2012 | |
Pharmaceutical Manufacturing - China business [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Loss on exit of segment | ($3,416,400) |
Discontinued_Operations_The_su1
Discontinued Operations The summary of the assets and liabilities related to Pharmaceutical Manufacturing- China discontinued operations (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Nov. 13, 2012 |
Pharmaceutical Manufacturing - China business [Member] | Pharmaceutical Manufacturing - China business [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | ' | ' | $13,397,900 | ' |
Noncontrolling interests | -516,040 | -356,970 | 6,015,000 | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | ' | ' | 4,387,400 | ' |
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents | ' | ' | 8,457,500 | ' |
Cash and cash equivalents | 46,133,759 | 13,737,452 | ' | 12,300,000 |
Restricted cash | ' | ' | 2,918,100 | ' |
Accounts receivable, net | ' | ' | 6,130,200 | ' |
Inventory | ' | ' | 15,077,700 | ' |
Prepaid expenses and other current assets | ' | ' | 957,800 | ' |
Property, plant and equipment, net | ' | ' | 38,102,000 | ' |
Other assets | ' | ' | 5,946,300 | ' |
Total assets | ' | 23,800,300 | ' | ' |
Accounts Payable | ' | ' | -9,604,800 | ' |
Accrued liabilities | ' | ' | -2,008,800 | ' |
Bank loans | ' | ' | -15,133,500 | ' |
Notes payable | ' | ' | -6,599,300 | ' |
Unearned revenue | ' | ' | -9,166,800 | ' |
Amount due related parties | ' | ' | -7,859,700 | ' |
Total Liabilities | ' | ' | 27,216,700 | ' |
Loss on exit of segment | ' | ' | ($3,416,400) | ' |
Treasury Stock, Shares | ' | ' | ' | 104,000 |
Stock Option Cancelled | ' | ' | ' | 117,000 |
Warrants Cancelled | ' | ' | ' | 64,000 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (Equity Purchase Agreement [Member]) | Dec. 31, 2012 | Jun. 18, 2012 |
CBH Acquisition LLC [Member] | EET and Fullbright [Member] | |
Related Party Transaction [Line Items] | ' | ' |
Equity Method Investment, Ownership Percentage | 51.00% | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | 49.00% |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 1 Months Ended | 12 Months Ended | |
Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Commitments and Contingencies [Abstract] | ' | ' | ' |
Base Monthly Rent Expense of Executive Offices | $27,000 | ' | ' |
Base Monthly Rent Expense of Subleases | 7,500 | ' | ' |
Operating Leases, Future Minimum Payments Due [Abstract] | ' | ' | ' |
2013 | ' | 1,004,000 | ' |
2014 | ' | 829,900 | ' |
2015 | ' | 671,800 | ' |
2016 | ' | 383,400 | ' |
Thereafter | ' | 5,900 | ' |
Total minimum lease payments | ' | 2,895,000 | ' |
Operating Leases, Rent Expense | ' | $1,100,000 | $1,500,000 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 12 Months Ended | 2 Months Ended | 3 Months Ended | 3 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Feb. 28, 2013 | Mar. 31, 2014 | Mar. 11, 2014 | Mar. 07, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 07, 2014 | Mar. 07, 2014 | |
Aspire Capital Purchase Agreement [Member] | Aspire Capital Purchase Agreement [Member] | Aspire Capital Purchase Agreement [Member] | Aspire Capital Purchase Agreement [Member] | Stock Option [Member] | Underwriting Offering [Member] | Underwriting Offering [Member] | Stock Options [Member] | |||
Issuance of Equity [Member] | Issuance of Equity [Member] | Issuance of Equity [Member] | Stock Options [Member] | Warrant [Member] | Warrant [Member] | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | 27,196,537 | 16,375,365 | 1,600,000 | ' | ' | 800,000 | ' | ' | ' | ' |
Proceeds from issuance of common stock | $58,736,166 | $16,428,827 | $11,100,000 | $5,600,000 | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Additional Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' |
Exercise Price of Warrant Exercise | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | ' |
Net proceeds from exercise of warrants | 3,028,241 | 6,604,418 | ' | ' | ' | ' | ' | 1,300,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 4,780,658 | ' | ' | ' | ' | ' | ' | ' | ' | 4,800 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.20 |
Net proceeds from exercise of options | 150,658 | 0 | ' | ' | ' | ' | 0 | ' | ' | ' |
Committment Value Under Purchase Agreement | ' | ' | ' | ' | $30,000,000 | ' | ' | ' | ' | ' |
Term Of Agreement In Months | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' |