Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Jul. 28, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Marina Biotech, Inc. | ' |
Entity Central Index Key | '0000737207 | ' |
Trading Symbol | 'mrna | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 25,626,450 |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash | $441 | $216 |
Restricted cash | ' | 380 |
Accounts receivable | 5 | 7 |
Prepaid expenses and other current assets | 22 | 129 |
Total current assets | 468 | 732 |
Intangible assets | 6,700 | 6,700 |
Other assets | ' | 21 |
Total assets | 7,168 | 7,453 |
Current liabilities: | ' | ' |
Accounts payable | 1,504 | 1,606 |
Accrued payroll and employee benefits | 1,415 | 755 |
Accrued interest | 83 | 73 |
Other accrued liabilities | 1,166 | 1,236 |
Accrued restructuring | 12 | 392 |
Notes payable | 1,615 | 1,440 |
Other debt | ' | 10 |
Deferred revenue | ' | 115 |
Total current liabilities | 5,795 | 5,627 |
Fair value liability for price adjustable warrants | 3,545 | 4,169 |
Fair value of stock to be issued to settle liabilities | 586 | 901 |
Deferred tax liabilities | 2,384 | 2,384 |
Total liabilities | 12,310 | 13,081 |
Commitments and contingencies | ' | ' |
Stockholders' deficit: | ' | ' |
Preferred stock, $.01 par value; 100,000 shares authorized: no shares issued and outstanding | ' | ' |
Common stock and additional paid-in capital, $0.006 par value; 180,000,000 shares authorized, 16,937,661 shares issued and outstanding at December 31, 2012 and September 30, 2013 | 324,205 | 324,112 |
Accumulated deficit | -329,347 | -329,740 |
Total stockholders' deficit | -5,142 | -5,628 |
Total liabilities and stockholders' deficit | $7,168 | $7,453 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 100,000 | 100,000 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 180,000,000 | 180,000,000 |
Common stock, shares issued | 16,937,661 | 16,937,661 |
Common stock, shares outstanding | 16,937,661 | 16,937,661 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
License and other revenue | $800 | $1,106 | $1,115 | $2,895 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 103 | 753 | 318 | 4,506 |
General and administrative | 573 | 598 | 1,185 | 3,306 |
Restructuring | ' | 1,446 | ' | 1,481 |
Total operating expenses | 676 | 2,797 | 1,503 | 9,293 |
Income (loss) from operations | 124 | -1,691 | -388 | -6,398 |
Other income (expense): | ' | ' | ' | ' |
Interest and other expense | -64 | -201 | -186 | -2,466 |
Gain on sale of equipment | ' | ' | 30 | ' |
Change in fair value liability for price adjustable warrants | -149 | 50 | 1,832 | 3,278 |
Gain on settled liabilities | ' | 92 | ' | 92 |
Change in fair value of stock reserved for issuance to settle liabilities | -22 | ' | 313 | ' |
Change in fair value of embedded features in notes payable and amendments to notes payable | 242 | ' | 829 | ' |
Loss on debt extinguishment | -1,107 | ' | -2,037 | ' |
Total other income (expense), net | -1,100 | -59 | 781 | 904 |
Net income (loss) | ($976) | ($1,750) | $393 | ($5,494) |
Net income (loss) per common share | ' | ' | ' | ' |
Basic (in dollars per share) | ($0.06) | ($0.12) | $0.02 | ($0.44) |
Diluted (in dollars per share) | ($0.06) | ($0.12) | $0.02 | ($0.44) |
Shares used in computing net income (loss) per share | ' | ' | ' | ' |
Basic (in shares) | 16,938 | 14,309 | 16,938 | 12,417 |
Diluted (in shares) | 16,938 | 14,309 | 17,228 | 12,417 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities: | ' | ' |
Net income (loss) | $393 | ($5,494) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ' | ' |
Non-cash loss on debt extinguishment | 2,037 | ' |
Non-cash interest expense | 186 | ' |
Compensation related to stock options, restricted stock and employee stock purchase plan | 93 | 345 |
Depreciation and amortization | ' | 555 |
Loss (gain) on disposition of property and equipment | -30 | 17 |
Non-cash restructuring charges | ' | 1,481 |
Non-cash amortization of discount on notes payable | ' | 2,324 |
Non-cash gain on settlement of liabilities | ' | -92 |
Changes in fair market value of liabilities | ' | ' |
Price adjustable warrants | -1,832 | -3,278 |
Debt features | -829 | ' |
Stock reserved for issuance to settle liabilities | -313 | ' |
Changes in assets and liabilities | ' | ' |
Accounts receivable | 2 | ' |
Prepaid expenses and other assets | 128 | 456 |
Accounts payable | -102 | 440 |
Deferred revenue | -115 | -166 |
Accrued and other liabilities | 587 | -314 |
Accrued restructuring | -380 | ' |
Net cash used in operating activities | -175 | -3,726 |
Investing activities: | ' | ' |
Change in restricted cash | 380 | 319 |
Proceeds from the sale of property and equipment | 30 | 371 |
Net cash provided by investing activities | 410 | 690 |
Financing activities: | ' | ' |
Proceeds from issuance of notes payable and warrants | ' | 1,500 |
Insurance financing | -10 | ' |
Proceeds from sales of common shares and warrants, net | ' | 1,111 |
Payments on notes payable | ' | -140 |
Proceeds from exercise of warrants and employee stock purchase plan purchases | ' | 2 |
Net cash provided by (used in) financing activities | -10 | 2,473 |
Net increase (decrease) in cash | 225 | -563 |
Cash and cash equivalents - beginning of period | 216 | 976 |
Cash and cash equivalents - end of period | 441 | 413 |
Non-cash financing activities: | ' | ' |
Issuance of common stock to settle liabilities | ' | 1,357 |
Supplemental disclosure: | ' | ' |
Cash paid for interest | ' | $62 |
Business_Liquidity_and_Summary
Business, Liquidity and Summary of Significant Accounting Policies | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Business, Liquidity and Summary of Significant Accounting Policies | ' | ||||||||||||||||||||||||
Note 1 — Business, Liquidity and Summary of Significant Accounting Policies | |||||||||||||||||||||||||
Business | |||||||||||||||||||||||||
Marina Biotech, Inc. (collectively “Marina”, “the company”, “us” or “we”), in conjunction with our wholly-owned and financially consolidated subsidiaries, Cequent Pharmaceuticals, Inc. (“Cequent”), MDRNA Research, Inc. (“MDRNA”), and Atossa Healthcare, Inc. (“Atossa”), is a biotechnology company focused on the discovery, development and commercialization of nucleic acid-based therapies to treat orphan diseases. Since 2010, we have strategically acquired/in-licensed and further developed nucleic acid chemistry and delivery-related technologies to form an integrated drug discovery platform. We distinguish ourselves from others in the nucleic acid therapeutics area through this unique platform that enables the development of a variety of therapeutics targeting coding and non-coding RNA via multiple mechanisms of action such as RNA interference (“RNAi”), messenger RNA (“mRNA”) translational inhibition, exon skipping, miRNA (“miRNA”) replacement, miRNA inhibition, and steric blocking in order to modulate gene expression either up or down depending on the specific mechanism of action. Our goal is to dramatically improve the lives of the patients and families affected by orphan diseases through either our own efforts or those of our collaborators and licensees. | |||||||||||||||||||||||||
We plan to focus our efforts and resources on the discovery and development of our own pipeline of nucleic acid-based compounds in order to commercialize drug therapies to treat orphan diseases. In addition, we will seek to establish collaborations and strategic partnerships with pharmaceutical and biotechnology companies to generate revenue through up-front, milestone and royalty payments related to our technology and/or the products that are developed using such technology. | |||||||||||||||||||||||||
Liquidity | |||||||||||||||||||||||||
The accompanying condensed consolidated financial statements have been prepared on the basis that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. At September 30, 2013, we had an accumulated deficit of approximately $329.4 million. To the extent that sufficient funding is available, we will in the future continue to incur losses as we continue our research and development (“R&D”) activities. In addition, we have had and will continue to have negative cash flows from operations. We have funded our losses primarily through the sale of common and preferred stock and warrants, revenue provided from our license agreements with other parties, and, to a lesser extent, equipment financing facilities and secured loans. During 2013, we funded operations with a combination of issuances of debt, license-related revenues, sales of reagents and services, and sales of property and equipment. At September 30, 2013, we had a working capital deficit of $5.3 million and $0.44 million in cash. | |||||||||||||||||||||||||
On February 24, 2014, certain debt holders exchanged secured promissory notes in the aggregate principal and interest amount of $1.5 million for 2.0 million shares of our common stock. In addition, on March 7, 2014, we sold 1,200 shares of our Series C Convertible Preferred Stock and 6.0 million warrants to purchase one share of common stock for $0.75 per share, resulting in proceeds of $6.0 million. We believe that our current cash resources, which include the proceeds of the March 2014 offering, will enable us to fund our intended operations through May 2015. | |||||||||||||||||||||||||
Basis of Preparation and Summary of Significant Accounting Policies | |||||||||||||||||||||||||
Basis of Preparation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and note disclosures required by U.S. generally accepted accounting principles for complete financial statements. The accompanying unaudited financial information should be read in conjunction with the audited consolidated financial statements, including the notes thereto, as of and for the year ended December 31, 2012, included in our 2012 Annual Report on Form 10-K filed with the SEC. The information furnished in this report reflects all adjustments (consisting of normal recurring adjustments), which are, in the opinion of management, necessary for a fair presentation of our financial position, results of operations and cash flows for each period presented. The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the results for the year ending December 31, 2013 or for any future period. | |||||||||||||||||||||||||
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting periods. Estimates having relatively higher significance include revenue recognition, research and development costs, stock-based compensation, valuation of warrants and subscription investment units, valuation and estimated lives of identifiable intangible assets, impairment of long-lived assets, valuation of features embedded within note agreements and amendments, estimated accrued restructuring charges and income taxes. Actual results could differ from those estimates. | |||||||||||||||||||||||||
Fair Value of Financial Instruments —We consider the fair value of cash, restricted cash, accounts receivable, accounts payable and accrued liabilities to not be materially different from their carrying value. These financial instruments have short-term maturities. | |||||||||||||||||||||||||
We follow authoritative guidance with respect to fair value reporting issued by the Financial Accounting Standards Board (“FASB”) for financial assets and liabilities, which defines fair value, provides guidance for measuring fair value and requires certain disclosures. The guidance does not apply to measurements related to share-based payments. The guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: | |||||||||||||||||||||||||
Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | |||||||||||||||||||||||||
Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | |||||||||||||||||||||||||
Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. | |||||||||||||||||||||||||
Our cash and restricted cash are subject to fair value measurement and are valued determined by Level 1 inputs. We measure and report at fair value our accrued restructuring liability using discounted estimated cash flows. We measure the liability for committed stock issuances with a fixed share number using Level 1 inputs. We measure the liability for price adjustable warrants, subscription investment units, and certain features embedded in notes, using the Black-Scholes-Merton valuation model, using Level 3 inputs. The following tables summarize our liabilities measured at fair value on a recurring basis as of December 31, 2012 and September 30, 2013: | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Balance at | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||
December 31, | active markets for | observable inputs | unobservable | ||||||||||||||||||||||
2012 | identical assets | inputs | |||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Fair value liability for price adjustable warrants | $ | 4,169 | $ | - | $ | - | $ | 4,169 | |||||||||||||||||
Fair value liability for shares to be issued | 901 | 901 | - | - | |||||||||||||||||||||
Total liabilities at fair value | $ | 5,070 | $ | 901 | $ | - | $ | 4,169 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Balance at | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||
September 30, | active markets for | observable inputs | unobservable | ||||||||||||||||||||||
2013 | identical assets | inputs | |||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Fair value liability for price adjustable warrants | $ | 3,545 | $ | - | $ | - | $ | 3,545 | |||||||||||||||||
Fair value liability for shares to be issued | 586 | 586 | - | - | |||||||||||||||||||||
Total liabilities at fair value | $ | 4,131 | $ | 586 | $ | - | $ | 3,545 | |||||||||||||||||
The following presents activity of the fair value liability of price adjustable warrants determined by Level 3 inputs for the nine month period from December 31, 2012 to September 30, 2013: | |||||||||||||||||||||||||
Fair value | Weighted average as of each measurement date | ||||||||||||||||||||||||
liability for price | Exercise | Stock | Volatility | Contractual | Risk free | ||||||||||||||||||||
adjustable warrants | Price | Price | life | rate | |||||||||||||||||||||
(in thousands) | (in years) | ||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 4,169 | $ | 0.28 | $ | 0.46 | 146 | % | 4.64 | 0.66 | % | ||||||||||||||
Fair value of warrants issued with note amendment 5 | 342 | 0.28 | 0.37 | 142 | % | 5.5 | 1.09 | % | |||||||||||||||||
Fair value of warrants issued with note amendment 6 | 866 | 0.28 | 0.24 | 135 | % | 4.72 | 1.28 | % | |||||||||||||||||
Change in fair value included in statement of operations | (1,832 | ) | - | - | - | - | - | ||||||||||||||||||
Balance at September 30, 2013 | $ | 3,545 | $ | 0.28 | $ | 0.28 | 126 | % | 4.56 | 1.2 | % | ||||||||||||||
Net Income (Loss) per Common Share — Basic net income (loss) per share of common stock has been computed by dividing net income (loss) by the weighted average number of shares outstanding during the period. Diluted net income per share of common stock has been computed by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding stock options, warrants and convertible securities. Diluted net loss per share of common stock has been computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding during such period. In a net loss period, options, warrants and convertible securities are anti-dilutive and therefore excluded from diluted loss per share calculations. | |||||||||||||||||||||||||
The following number of shares have been excluded from diluted net income (loss) since such inclusion would be anti-dilutive: | |||||||||||||||||||||||||
Three and nine months ended | |||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||||||
Stock options outstanding | 358,373 | 284,829 | |||||||||||||||||||||||
Warrants | 11,251,086 | 1,306,058 | |||||||||||||||||||||||
Total | 11,609,459 | 1,590,887 | |||||||||||||||||||||||
The following is a reconciliation of diluted weighted average shares outstanding: | |||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
(In thousands) | 2012 | 2013 | 2012 | 2013 | |||||||||||||||||||||
Weighted average common shares outstanding | 14,309 | 16,938 | 12,417 | 16,938 | |||||||||||||||||||||
Assumed conversion of net common shares issuable under warrants | - | - | - | 290 | |||||||||||||||||||||
Weighted average common and common equivalent shares outstanding, diluted | 14,309 | 16,938 | 12,417 | 17,228 | |||||||||||||||||||||
Recently Issued Accounting Standards - In May 2014, the Financial Accounting Standard Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers”, which provides guidance for revenue recognition. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU also requires additional disclosures. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016. The Company is currently in the process of evaluating the impact of adoption of this ASU on the financial statements. | |||||||||||||||||||||||||
In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity” which changes the criteria for determining which disposals can be presented as discontinued operations and modifies the related disclosure requirements. Under the new guidance, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results and is disposed of or classified as held for sale. The standard also introduces several new disclosures. The guidance applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. ASU 2014-08 is effective for annual and interim periods beginning after December 15, 2014, with early adoption permitted. The Company is currently in the process of evaluating the impact of adoption of this ASU on the financial statements. |
Restructuring_Charges
Restructuring Charges | 9 Months Ended |
Sep. 30, 2013 | |
Restructuring Charges (Abstract) | ' |
Restructuring Charges | ' |
Note 2 — Restructuring Charges | |
The lease termination agreement we entered into in September 2012 required us to pay January and February 2013 rent totaling $0.38 million before the effective termination date of March 1, 2013. We also were obligated to perform an environmental test prior to a new tenant taking occupancy. We recorded the 2013 rent payments and the fee for testing as accrued restructuring in 2012 and paid the rent by allowing the landlord to draw on our letter of credit, which we cancelled when the balance reached zero in March 2013. The environmental test was conducted in 2014 upon new tenants occupying the facility, bringing the restructuring accrual balance to zero. |
Notes_Payable
Notes Payable | 9 Months Ended |
Sep. 30, 2013 | |
Notes Payable [Abstract] | ' |
Notes Payable | ' |
Note 3 — Notes Payable | |
Original Issuance and amendments— In February 2012, we issued $1.5 million of notes payable at 15% interest to two investors. The notes were secured by the assets of the Company. In 2012, we executed a series of four amendments which modified the maturity dates and cash claims of the notes, as well as including additional conversion features. We issued warrants to purchase up to 6.9 million shares of the company before August 2018. These warrants were issued or reset to a $0.28 exercise price and may be subject to further downward exercise price adjustment. | |
Amendment Five — In February 2013, we amended the notes to a) extend the maturity date to April 2013 and b) in the event that the company was merged or consolidated, the company would repay the entire unpaid principal balance and all accrued and unpaid interest through the issuance of an aggregate number of shares of common stock calculated by converting the then total outstanding principal and interest at a value of $0.28 per share of common stock. We issued warrants to purchase up to 1.0 million shares of the company before August 2018. These warrants were price adjusted at a $0.28 exercise price. | |
Amendment Six – In August 2013, we amended the notes to a) extend the maturity date to March 2014, b) release our UNA technology from the collateral securing our obligations under the notes, and c) provide that we would pay a portion of any payments that we receive from the licensing, partnering or disposition of our technology, or from the sale of our debt or equity securities in a bona fide capital raising transaction, to the note holders. We issued Price Adjustable Warrants to purchase up to 4.0 million shares of the company before February 2019 at an exercise price of $0.28 per share. | |
During the nine months ended September 2012, the Company recorded interest and other expenses related to the notes of $2.3 million, with interest on the notes being $0.1 million, amortized financing expenses being $0.08 million and remainder being the amortization of the fair value of the warrants. During the nine months ended September 30, 2013, the Company recorded interest expense related to the notes of $0.2 million, a loss on extinguishments of $2.03 million and a gain on the change in the fair value of embedded derivatives of $0.8 million. | |
In February 2014, the note holders exchanged the notes in the aggregate principal and interest amount of approximately $1.5 million for approximately 2.0 million shares of our common stock. |
Stockholders_Equity
Stockholders' Equity | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Stockholders' Equity [Abstract] | ' | ||||||||
Stockholders' Equity | ' | ||||||||
Note 4 — Stockholders’ Equity | |||||||||
Preferred Stock — Our board of directors has the authority, without action by the stockholders, to designate and issue up to 100,000 shares of preferred stock in one or more series and to designate the rights, preferences and privileges of each series, any or all of which may be greater than the rights of our common stock. We have designated 1,000 shares as Series B Preferred Stock (“Series B Preferred”) and 90,000 shares as Series A Junior Participating Preferred Stock (“Series A Preferred”). No shares of Series B Preferred or Series A Preferred are outstanding. In March 2014, we designated and issued 1,200 shares of Series C Preferred Stock (“Series C Preferred”) for $6.0 million. | |||||||||
Common Stock — Holders of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of the holders of our common stock. Subject to the rights of the holders of any class of our capital stock having any preference or priority over our common stock, the holders of our common stock are entitled to receive dividends that are declared by our board of directors out of legally available funds. In the event of our liquidation, dissolution or winding-up, the holders of common stock are entitled to share ratably in our net assets remaining after payment of liabilities, subject to prior rights of preferred stock, if any, then outstanding. Our common stock has no preemptive rights, conversion rights, redemption rights or sinking fund provisions, and there are no dividends in arrears or default. All shares of our common stock have equal distribution, liquidation and voting rights, and have no preferences or exchange rights. Our common stock currently trades on the OTC Pink tier of the OTC Markets. | |||||||||
During 2012, we executed compromise and release agreements with certain vendors to whom we owed $1.6 million. We reserved 3.9 million shares of our common stock to settle $1.2 million of the amounts outstanding. In 2012, we issued 3.8 million common shares and, at September 30, 2013, 0.1 million shares remained to be issued, with a fair value of $0.02 million. | |||||||||
In September 2012, as part of the lease termination agreement, we agreed to issue 1.5 million shares of our common stock to a landlord. At September 30, 2013, the shares to be issued had a fair value of $0.4 million. The shares were issued in March 2014 at a value of $1.1 million. | |||||||||
As part of the asset purchase agreement that we entered into with Novosom in July 2012, we are obligated to pay Novosom 30% of any payments received by us for sub-licensed SMARTICLES® technology. The consideration is payable in a combination of cash (no more than 50% of total due) and common stock (between 50% and 100% of total due), at our discretion. For such consideration, we issued a total of 0.34 million shares with a fair value of $.11 million in January and September 2012, and committed an additional 0.51 million shares for future issuance. At September 30, 2013, the pledged shares had a value $0.17 million. In December 2013, the Company committed another 0.5 million shares for future issuance to Novosom. All remaining shares due Novosom, for current sub-licenses, were issued in March 2014. | |||||||||
During 2014, we issued 2.69 million shares of common stock to employees and board members in settlement of amounts due under certain employment agreements and accrued board fees. | |||||||||
Warrants — In February 2012, we received net proceeds of approximately $1.5 million from the issuance of 15% secured promissory notes and Price Adjustable Warrants to purchase up to 3.7 million shares of our common stock. Through a series of note amendments in 2012, we issued additional Price Adjustable Warrants to purchase 3.2 million shares of our common stock. At March 31, 2013, all of these Price Adjustable Warrants had been adjusted to an exercise price of $0.28 per share and were potentially subject to further downward exercise price adjustments, including as a result of subsequent financings. These Price Adjustable warrants expire between August 2017 and April 2018. | |||||||||
In February 2013, an amendment was executed that extended the maturity date to the end of April 2013, and retained all of the terms of the notes as amended in 2012. For consideration of this amendment, we issued additional warrants to purchase up to 1.0 million shares at a price of $0.28, such price being downward adjustable, including as a result of subsequent financings. In August 2013, an amendment was executed that extended the maturity date to the end of March 2014, and replaced the previously amended features and terms of the notes with a limited claim on cash received as a result of financings or license payments and the balance of principal and accrued interest convertible to financing securities at the effective price paid for the securities by other parties. For consideration of this amendment, we issued additional warrants to purchase up to 4.0 million common shares at a price of $0.28, such price being downward adjustable, including as a result of subsequent financings. | |||||||||
In January 2014, we issued warrants to purchase up to 0.10 million shares of our common stock to a consultant who is our interim chief financial officer. These warrants vest over two years, have a fixed strike price of $0.48, expire in January 2024 and have an immaterial fair value. | |||||||||
During 2014, we issued approximately 1.2 million shares upon net share exercise of warrants. | |||||||||
The following summarizes warrant activity during the nine months ended September 30, 2013. | |||||||||
Warrant | Weighted | ||||||||
Shares | Average | ||||||||
Exercise Price | |||||||||
Outstanding, December 31, 2012 | 11,916,801 | $ | 1.71 | ||||||
Issued | 5,000,000 | 0.28 | |||||||
Outstanding, September 30, 2013 | 16,916,801 | $ | 1.3 | ||||||
Expiring in 2014 | 95,631 | ||||||||
Expiring in 2015 | 285,345 | ||||||||
Expiring in 2016 | - | ||||||||
Expiring thereafter | 16,535,825 | ||||||||
Stock_Incentive_Plans
Stock Incentive Plans | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Stock Incentive Plans [Abstract] | ' | ||||||||||||||||||||
Stock Incentive Plans | ' | ||||||||||||||||||||
Note 5 — Stock Incentive Plans | |||||||||||||||||||||
At September 30, 2013, options to purchase up to 0.28 million shares of our common stock were outstanding. | |||||||||||||||||||||
Stock-based Compensation. Certain option and share awards provide for accelerated vesting if there is a change in control as defined in the applicable plan and certain employment agreements. The following table summarizes stock-based compensation expense: | |||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||
(In thousands) | 2012 | 2013 | 2012 | 2013 | |||||||||||||||||
Research and development | $ | 34 | $ | 19 | $ | 186 | $ | 41 | |||||||||||||
General and administrative | (33 | ) | 17 | 159 | 52 | ||||||||||||||||
Total | $ | 1 | $ | 36 | $ | 345 | $ | 93 | |||||||||||||
Stock Options — Stock option activity was as follows: | |||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||||
Average | Average | ||||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||||
Price | Price | ||||||||||||||||||||
Outstanding on January 1 | 576,773 | $ | 26.16 | 284,829 | $ | 39.46 | |||||||||||||||
Forfeitures and expirations | (218,400 | ) | 7.73 | - | - | ||||||||||||||||
Outstanding on September 30 | 358,373 | $ | 38.41 | 284,829 | $ | 39.46 | |||||||||||||||
Exercisable as of September 30 | 254,682 | $ | 52.7 | 233,641 | $ | 47.4 | |||||||||||||||
The following table summarizes additional information on our stock options outstanding at September 30, 2013: | |||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||
Range of Exercise | Number | Weighted-Average | Weighted | Number | Weighted | ||||||||||||||||
Prices | Outstanding | Remaining | Average | Exercisable | Average | ||||||||||||||||
Contractual Life | Exercise | Exercise | |||||||||||||||||||
(Years) | Price | Price | |||||||||||||||||||
$2.00 - $2.20 | 154,288 | 7.91 | $ | 2.02 | 105,869 | $ | 2.02 | ||||||||||||||
$11.60 - $24.50 | 11,175 | 6.76 | 22.44 | 8,406 | 21.77 | ||||||||||||||||
$29.82 - $90.80 | 84,694 | 5.14 | 61.4 | 84,694 | 61.4 | ||||||||||||||||
$127.60 - $167.60 | 28,166 | 4.71 | 136.6 | 28,166 | 136.6 | ||||||||||||||||
$207.60 - $588.80 | 6,506 | 4.29 | 250.55 | 6,506 | 250.55 | ||||||||||||||||
Totals | 284,829 | 6.64 | $ | 39.46 | 233,641 | $ | 47.4 | ||||||||||||||
Exercisable | 153,641 | 6.37 | |||||||||||||||||||
No options were granted in the nine months ended September 30, 2013. | |||||||||||||||||||||
At September 30, 2013, we had $0.14 million of total unrecognized compensation expense related to unvested stock options. We expect to recognize this cost over a weighted average period of 11 months. | |||||||||||||||||||||
At September 30, 2013, the intrinsic value of options outstanding or exercisable was zero as there were no options outstanding with an exercise price less than the per share closing market price of our common stock at that date. No options were exercised during the periods ended September 30, 2012 and 2013. |
Intellectual_Property_and_Coll
Intellectual Property and Collaborative Agreements | 9 Months Ended |
Sep. 30, 2013 | |
Intellectual Property and Contractual Agreements [Abstract] | ' |
Intellectual Property and Collaborative Agreements | ' |
Note 6 — Intellectual Property and Collaborative Agreements | |
Arcturus - In August 2013, we and Arcturus entered into a patent assignment and license agreement pursuant to which Arcturus was granted an assignment of select RNA related patents and certain transferable agreements, including agreements with Roche, dated February 2009, and the Tekmira agreement. We received an irrevocable, royalty-free, worldwide, non-exclusive sublicense to use the transferred technologies in the development and commercialization of our products. As compensation under this agreement, we received a one-time payment of $0.8 million. | |
Tekmira - In November 2012, we and Tekmira entered into a license agreement pursuant to which Tekmira was granted a worldwide, non-exclusive and selectively sub-licensable license to develop and commercialize products using our UNA technology. We received a $0.3 million upfront payment and an additional $0.2 million received in April 2013. This agreement was transferred to Arcturus as part of the patent assignment and license agreement in August 2013. | |
Mirna — In December 2011, we entered into agreement with Mirna relating to the development and commercialization of miRNA-based therapeutics utilizing Mirna’s proprietary miRNAs and our SMARTICLES delivery technology. The agreement provides that Mirna will have full responsibility for the development and commercialization of any products arising under the agreement and that we will support pre-clinical and process development efforts. Under terms of the agreement, we could receive up to $63.0 million in upfront, clinical and commercialization milestone payments, as well as royalties on product sales in the low single digit percentages. Either party may terminate the agreement upon the occurrence of a default by the other party. In December 2013, the agreement was amended to add the right for Mirna to select additional compounds for development. Mirna identified three selected compounds for an upfront payment of $1.0 million. Future additional selections can be identified for an upfront payment of $0.5 million per selection. All other per compound payments remain unchanged, except that no royalties will be owed on sales of the original licensed compound. | |
Novosom — In July 2010, we entered into an agreement pursuant to which we acquired the intellectual property for Novosom’s SMARTICLES-based liposomal delivery system. During 2013, as a result of the payment received from Mirna for additional compounds, we opted to record a $0.15 million cash payable and reserve an additional 0.45 million shares for future issuance. All balances due Novosom, both cash and stock, were paid or issued in March 2014. | |
Ribotask — In October 2008, Ribotask granted us an exclusive, sub-licensable license allowing us to develop and commercialize therapeutics using UNA technology in exchange for $0.5 million. In August 2013, this agreement was transferred to Arcturus as part of the patent assignment and license agreement. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies [Abstract] | ' |
Commitments and Contingencies | ' |
Note 7 — Commitments and Contingencies | |
Standby Letter of Credit/Leases— In connection with the lease of our Bothell, Washington facility, we provided the landlord a $1.2 million stand-by letter of credit. The landlord drew $0.38 million in rent charges from the letter of credit in January and February 2013, before the credit facility was terminated in March 2013. At March 1, 2013, the Company had exited all facility leases, and the only remaining commitment was to issue 1.5 million common shares to the landlord. | |
Contingencies — We are subject to various legal proceedings and claims that arise in the ordinary course of business. Our management currently believes that resolution of such legal matters will not have a material adverse impact on our consolidated financial position, results of operations or cash flows. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Note 8 — Subsequent Events | |
All material subsequent events have been included within footnotes 1, 2, 3, 4 and 6 of the Condensed Consolidated Financial Statements. |
Business_Liquidity_and_Summary1
Business, Liquidity and Summary of Significant Accounting Policies (Policies) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Use of Estimates | ' | ||||||||||||||||||||||||
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting periods. Estimates having relatively higher significance include revenue recognition, research and development costs, stock-based compensation, valuation of warrants and subscription investment units, valuation and estimated lives of identifiable intangible assets, impairment of long-lived assets, valuation of features embedded within note agreements and amendments, estimated accrued restructuring charges and income taxes. Actual results could differ from those estimates. | |||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||
Fair Value of Financial Instruments —We consider the fair value of cash, restricted cash, accounts receivable, accounts payable and accrued liabilities to not be materially different from their carrying value. These financial instruments have short-term maturities. | |||||||||||||||||||||||||
We follow authoritative guidance with respect to fair value reporting issued by the Financial Accounting Standards Board (“FASB”) for financial assets and liabilities, which defines fair value, provides guidance for measuring fair value and requires certain disclosures. The guidance does not apply to measurements related to share-based payments. The guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: | |||||||||||||||||||||||||
Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | |||||||||||||||||||||||||
Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | |||||||||||||||||||||||||
Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. | |||||||||||||||||||||||||
Our cash and restricted cash are subject to fair value measurement and are valued determined by Level 1 inputs. We measure and report at fair value our accrued restructuring liability using discounted estimated cash flows. We measure the liability for committed stock issuances with a fixed share number using Level 1 inputs. We measure the liability for price adjustable warrants, subscription investment units, and certain features embedded in notes, using the Black-Scholes-Merton valuation model, using Level 3 inputs. The following tables summarize our liabilities measured at fair value on a recurring basis as of December 31, 2012 and September 30, 2013: | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Balance at | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||
December 31, | active markets for | observable inputs | unobservable | ||||||||||||||||||||||
2012 | identical assets | inputs | |||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Fair value liability for price adjustable warrants | $ | 4,169 | $ | - | $ | - | $ | 4,169 | |||||||||||||||||
Fair value liability for shares to be issued | 901 | 901 | - | - | |||||||||||||||||||||
Total liabilities at fair value | $ | 5,070 | $ | 901 | $ | - | $ | 4,169 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Balance at | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||
September 30, | active markets for | observable inputs | unobservable | ||||||||||||||||||||||
2013 | identical assets | inputs | |||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Fair value liability for price adjustable warrants | $ | 3,545 | $ | - | $ | - | $ | 3,545 | |||||||||||||||||
Fair value liability for shares to be issued | 586 | 586 | - | - | |||||||||||||||||||||
Total liabilities at fair value | $ | 4,131 | $ | 586 | $ | - | $ | 3,545 | |||||||||||||||||
The following presents activity of the fair value liability of price adjustable warrants determined by Level 3 inputs for the nine month period from December 31, 2012 to September 30, 2013: | |||||||||||||||||||||||||
Fair value | Weighted average as of each measurement date | ||||||||||||||||||||||||
liability for price | Exercise | Stock | Volatility | Contractual | Risk free | ||||||||||||||||||||
adjustable warrants | Price | Price | life | rate | |||||||||||||||||||||
(in thousands) | (in years) | ||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 4,169 | $ | 0.28 | $ | 0.46 | 146 | % | 4.64 | 0.66 | % | ||||||||||||||
Fair value of warrants issued with note amendment 5 | 342 | 0.28 | 0.37 | 142 | % | 5.5 | 1.09 | % | |||||||||||||||||
Fair value of warrants issued with note amendment 6 | 866 | 0.28 | 0.24 | 135 | % | 4.72 | 1.28 | % | |||||||||||||||||
Change in fair value included in statement of operations | (1,832 | ) | - | - | - | - | - | ||||||||||||||||||
Balance at September 30, 2013 | $ | 3,545 | $ | 0.28 | $ | 0.28 | 126 | % | 4.56 | 1.2 | % | ||||||||||||||
Net Income (Loss) per Common Share | ' | ||||||||||||||||||||||||
Net Income (Loss) per Common Share — Basic net income (loss) per share of common stock has been computed by dividing net income (loss) by the weighted average number of shares outstanding during the period. Diluted net income per share of common stock has been computed by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding stock options, warrants and convertible securities. Diluted net loss per share of common stock has been computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding during such period. In a net loss period, options, warrants and convertible securities are anti-dilutive and therefore excluded from diluted loss per share calculations. | |||||||||||||||||||||||||
The following number of shares have been excluded from diluted net income (loss) since such inclusion would be anti-dilutive: | |||||||||||||||||||||||||
Three and nine months ended | |||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||||||
Stock options outstanding | 358,373 | 284,829 | |||||||||||||||||||||||
Warrants | 11,251,086 | 1,306,058 | |||||||||||||||||||||||
Total | 11,609,459 | 1,590,887 | |||||||||||||||||||||||
The following is a reconciliation of diluted weighted average shares outstanding: | |||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
(In thousands) | 2012 | 2013 | 2012 | 2013 | |||||||||||||||||||||
Weighted average common shares outstanding | 14,309 | 16,938 | 12,417 | 16,938 | |||||||||||||||||||||
Assumed conversion of net common shares issuable under warrants | - | - | - | 290 | |||||||||||||||||||||
Weighted average common and common equivalent shares outstanding, diluted | 14,309 | 16,938 | 12,417 | 17,228 | |||||||||||||||||||||
Recently Issued Accounting Standards | ' | ||||||||||||||||||||||||
Recently Issued Accounting Standards - In May 2014, the Financial Accounting Standard Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers”, which provides guidance for revenue recognition. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU also requires additional disclosures. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016. The Company is currently in the process of evaluating the impact of adoption of this ASU on the financial statements. | |||||||||||||||||||||||||
In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity” which changes the criteria for determining which disposals can be presented as discontinued operations and modifies the related disclosure requirements. Under the new guidance, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results and is disposed of or classified as held for sale. The standard also introduces several new disclosures. The guidance applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. ASU 2014-08 is effective for annual and interim periods beginning after December 15, 2014, with early adoption permitted. The Company is currently in the process of evaluating the impact of adoption of this ASU on the financial statements. |
Business_Liquidity_and_Summary2
Business, Liquidity and Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Schedule of liabilities measured at fair value on a recurring basis | ' | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Balance at | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||
December 31, | active markets for | observable inputs | unobservable | ||||||||||||||||||||||
2012 | identical assets | inputs | |||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Fair value liability for price adjustable warrants | $ | 4,169 | $ | - | $ | - | $ | 4,169 | |||||||||||||||||
Fair value liability for shares to be issued | 901 | 901 | - | - | |||||||||||||||||||||
Total liabilities at fair value | $ | 5,070 | $ | 901 | $ | - | $ | 4,169 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Balance at | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||
September 30, | active markets for | observable inputs | unobservable | ||||||||||||||||||||||
2013 | identical assets | inputs | |||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Fair value liability for price adjustable warrants | $ | 3,545 | $ | - | $ | - | $ | 3,545 | |||||||||||||||||
Fair value liability for shares to be issued | 586 | 586 | - | - | |||||||||||||||||||||
Total liabilities at fair value | $ | 4,131 | $ | 586 | $ | - | $ | 3,545 | |||||||||||||||||
Schedule of fair value liability of price adjustable warrants determined by Level 3 | ' | ||||||||||||||||||||||||
Fair value | Weighted average as of each measurement date | ||||||||||||||||||||||||
liability for price | Exercise | Stock | Volatility | Contractual | Risk free | ||||||||||||||||||||
adjustable warrants | Price | Price | life | rate | |||||||||||||||||||||
(in thousands) | (in years) | ||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 4,169 | $ | 0.28 | $ | 0.46 | 146 | % | 4.64 | 0.66 | % | ||||||||||||||
Fair value of warrants issued with note amendment 5 | 342 | 0.28 | 0.37 | 142 | % | 5.5 | 1.09 | % | |||||||||||||||||
Fair value of warrants issued with note amendment 6 | 866 | 0.28 | 0.24 | 135 | % | 4.72 | 1.28 | % | |||||||||||||||||
Change in fair value included in statement of operations | (1,832 | ) | - | - | - | - | - | ||||||||||||||||||
Balance at September 30, 2013 | $ | 3,545 | $ | 0.28 | $ | 0.28 | 126 | % | 4.56 | 1.2 | % | ||||||||||||||
Schedule of anti-dilutive securities | ' | ||||||||||||||||||||||||
Three and nine months ended | |||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||||||
Stock options outstanding | 358,373 | 284,829 | |||||||||||||||||||||||
Warrants | 11,251,086 | 1,306,058 | |||||||||||||||||||||||
Total | 11,609,459 | 1,590,887 | |||||||||||||||||||||||
Schedule of reconciliation of diluted weighted average shares outstanding | ' | ||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
(In thousands) | 2012 | 2013 | 2012 | 2013 | |||||||||||||||||||||
Weighted average common shares outstanding | 14,309 | 16,938 | 12,417 | 16,938 | |||||||||||||||||||||
Assumed conversion of net common shares issuable under warrants | - | - | - | 290 | |||||||||||||||||||||
Weighted average common and common equivalent shares outstanding, diluted | 14,309 | 16,938 | 12,417 | 17,228 |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Stockholders' Equity [Abstract] | ' | ||||||||
Schedule of warrant activity | ' | ||||||||
Warrant | Weighted | ||||||||
Shares | Average | ||||||||
Exercise Price | |||||||||
Outstanding, December 31, 2012 | 11,916,801 | $ | 1.71 | ||||||
Issued | 5,000,000 | 0.28 | |||||||
Outstanding, September 30, 2013 | 16,916,801 | $ | 1.3 | ||||||
Expiring in 2014 | 95,631 | ||||||||
Expiring in 2015 | 285,345 | ||||||||
Expiring in 2016 | - | ||||||||
Expiring thereafter | 16,535,825 |
Stock_Incentive_Plans_Tables
Stock Incentive Plans (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Stock Incentive Plans [Abstract] | ' | ||||||||||||||||||||
Schedule of stock-based compensation expense | ' | ||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||
(In thousands) | 2012 | 2013 | 2012 | 2013 | |||||||||||||||||
Research and development | $ | 34 | $ | 19 | $ | 186 | $ | 41 | |||||||||||||
General and administrative | (33 | ) | 17 | 159 | 52 | ||||||||||||||||
Total | $ | 1 | $ | 36 | $ | 345 | $ | 93 | |||||||||||||
Schedule of stock option activity | ' | ||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||||
Average | Average | ||||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||||
Price | Price | ||||||||||||||||||||
Outstanding on January 1 | 576,773 | $ | 26.16 | 284,829 | $ | 39.46 | |||||||||||||||
Forfeitures and expirations | (218,400 | ) | 7.73 | - | - | ||||||||||||||||
Outstanding on September 30 | 358,373 | $ | 38.41 | 284,829 | $ | 39.46 | |||||||||||||||
Exercisable as of September 30 | 254,682 | $ | 52.7 | 233,641 | $ | 47.4 | |||||||||||||||
Schedule of summary of additional information on stock options outstanding | ' | ||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||
Range of Exercise | Number | Weighted-Average | Weighted | Number | Weighted | ||||||||||||||||
Prices | Outstanding | Remaining | Average | Exercisable | Average | ||||||||||||||||
Contractual Life | Exercise | Exercise | |||||||||||||||||||
(Years) | Price | Price | |||||||||||||||||||
$2.00 - $2.20 | 154,288 | 7.91 | $ | 2.02 | 105,869 | $ | 2.02 | ||||||||||||||
$11.60 - $24.50 | 11,175 | 6.76 | 22.44 | 8,406 | 21.77 | ||||||||||||||||
$29.82 - $90.80 | 84,694 | 5.14 | 61.4 | 84,694 | 61.4 | ||||||||||||||||
$127.60 - $167.60 | 28,166 | 4.71 | 136.6 | 28,166 | 136.6 | ||||||||||||||||
$207.60 - $588.80 | 6,506 | 4.29 | 250.55 | 6,506 | 250.55 | ||||||||||||||||
Totals | 284,829 | 6.64 | $ | 39.46 | 233,641 | $ | 47.4 | ||||||||||||||
Exercisable | 153,641 | 6.37 |
Business_Liquidity_and_Summary3
Business, Liquidity and Summary of Significant Accounting Policies (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Liabilities: | ' | ' |
Fair value liability for price adjustable warrants | $3,545 | $4,169 |
Fair value liability for shares to be issued | 586 | 901 |
Fair value on recurring basis | ' | ' |
Liabilities: | ' | ' |
Fair value liability for price adjustable warrants | 3,545 | 4,169 |
Fair value liability for shares to be issued | 586 | 901 |
Total liabilities at fair value | 4,131 | 5,070 |
Fair value on recurring basis | Level 1 | ' | ' |
Liabilities: | ' | ' |
Fair value liability for price adjustable warrants | ' | ' |
Fair value liability for shares to be issued | 586 | 901 |
Total liabilities at fair value | 586 | 901 |
Fair value on recurring basis | Level 2 | ' | ' |
Liabilities: | ' | ' |
Fair value liability for price adjustable warrants | ' | ' |
Fair value liability for shares to be issued | ' | ' |
Total liabilities at fair value | ' | ' |
Fair value on recurring basis | Level 3 | ' | ' |
Liabilities: | ' | ' |
Fair value liability for price adjustable warrants | 3,545 | 4,169 |
Fair value liability for shares to be issued | ' | ' |
Total liabilities at fair value | $3,545 | $4,169 |
Business_Liquidity_and_Summary4
Business, Liquidity and Summary of Significant Accounting Policies (Details 1) (Fair Value Liability For Price Adjustable Warrants, Level 3, USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Balance | $4,169 |
Change in fair value liability for price adjustable warrants and subscription investment units | -1,832 |
Ending | 3,545 |
Exercise Price [Roll Forward] | ' |
Balance | $0.28 |
Ending | $0.28 |
Stock Price [Roll Forward] | ' |
Beginning balance | $0.46 |
Ending balance | $0.28 |
Volatility [Roll Forward] | ' |
Beginning balance | 146.00% |
Ending balance | 126.00% |
Contractual Life In Years [Roll Forward] | ' |
Contractual Life (In Years) | '4 years 7 months 21 days |
Fair value of exercised warrants, exercised term | '4 years 6 months 22 days |
Risk Free [Roll Forward] | ' |
Beginning balance | 0.66% |
Ending balance | 1.20% |
Fair Value of warrants issued in Amendment 5 | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Fair value of warrants issued with note amendment | 342 |
Exercise Price [Roll Forward] | ' |
Fair value of warrants issued with note amendment, exercise price | $0.28 |
Stock Price [Roll Forward] | ' |
Fair value of warrants issued with note amendment, stock price | $0.37 |
Volatility [Roll Forward] | ' |
Fair value of warrants issued with note amendment, volatility | 142.00% |
Contractual Life In Years [Roll Forward] | ' |
Fair value of warrants issued, term | '5 years 6 months |
Risk Free [Roll Forward] | ' |
Fair value of warrants issued with note amendment, risk free rate | 1.09% |
Fair Value of warrants issued in Amendment 6 | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Fair value of warrants issued with note amendment | $866 |
Exercise Price [Roll Forward] | ' |
Fair value of warrants issued with note amendment, exercise price | $0.28 |
Stock Price [Roll Forward] | ' |
Fair value of warrants issued with note amendment, stock price | $0.24 |
Volatility [Roll Forward] | ' |
Fair value of warrants issued with note amendment, volatility | 135.00% |
Contractual Life In Years [Roll Forward] | ' |
Fair value of warrants issued, term | '4 years 8 months 19 days |
Risk Free [Roll Forward] | ' |
Fair value of warrants issued with note amendment, risk free rate | 1.28% |
Business_Liquidity_and_Summary5
Business, Liquidity and Summary of Significant Accounting Policies (Details 2) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Anti-dilutive securities | 1,590,887 | 11,609,459 |
Stock options outstanding | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Anti-dilutive securities | 284,829 | 358,373 |
Warrants | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Anti-dilutive securities | 1,306,058 | 11,251,086 |
Business_Liquidity_and_Summary6
Business, Liquidity and Summary of Significant Accounting Policies (Details 3) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' | ' |
Weighted average common shares outstanding | 16,938 | 14,309 | 16,938 | 12,417 |
Assumed conversion of net common shares issuable under warrants | ' | ' | 290 | ' |
Weighted average common and common equivalent shares outstanding, diluted | 16,938 | 14,309 | 17,228 | 12,417 |
Business_Liquidity_and_Summary7
Business, Liquidity and Summary of Significant Accounting Policies (Detail Textuals) (USD $) | 9 Months Ended | 1 Months Ended | 0 Months Ended | |||||
Sep. 30, 2012 | Sep. 30, 2013 | Aug. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 24, 2014 | Mar. 07, 2014 | |
Subsequent Event | Series C Preferred Stock | |||||||
Subsequent Event | ||||||||
Business, Going Concern And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated deficit | ' | ($329,347,000) | ' | ' | ($329,740,000) | ' | ' | ' |
Working capital deficit | ' | -5,300,000 | ' | ' | ' | ' | ' | ' |
Unrestricted cash | 413,000 | 441,000 | ' | ' | 216,000 | 976,000 | ' | ' |
Aggregate principal and interest amount of promissory notes | ' | ' | ' | ' | ' | ' | 1,500,000 | ' |
Number of shares issuable through promissory notes | ' | ' | ' | ' | ' | ' | 2,000,000 | ' |
Sale of Series C Convertible Preferred Stock to purchase one share of common stock | ' | ' | ' | ' | ' | ' | ' | 1,200 |
Sale of warrants to purchase one share of common stock | ' | ' | 4,000,000 | 1,000,000 | ' | ' | ' | 6,000,000 |
Exercise price of warrants | ' | ' | 0.28 | 0.28 | 0.28 | ' | ' | 0.75 |
Proceeds from sales of common shares and warrants, net | $1,111,000 | ' | ' | ' | ' | ' | ' | $6,000,000 |
Restructuring_Charges_Detail_T
Restructuring Charges (Detail Textuals) (USD $) | 1 Months Ended | 3 Months Ended |
Sep. 30, 2012 | Mar. 31, 2013 | |
Restructuring Charges (Abstract) | ' | ' |
Future rent charges | $380,000 | ' |
Restructuring expected cost remaining | ' | $0 |
Notes_Payable_Detail_Textuals
Notes Payable (Detail Textuals) (USD $) | Aug. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Feb. 29, 2012 | Feb. 29, 2012 |
In Millions, except Share data, unless otherwise specified | Price adjustable warrants | Price adjustable warrants | Notes Payable | |||
Price adjustable warrants | ||||||
Investor | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Notes payable | ' | ' | ' | ' | ' | $1.50 |
Interest rate on notes payable | ' | ' | ' | ' | ' | 15.00% |
Number of investors | ' | ' | ' | ' | ' | 2 |
Number of shares called by issuing warrants | 4,000,000 | 1,000,000 | ' | 3,700,000 | 3,200,000 | 6,900,000 |
Exercise price of warrants | 0.28 | 0.28 | 0.28 | ' | ' | 0.28 |
Notes_Payable_Detail_Textuals_
Notes Payable (Detail Textuals 1) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Aug. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2012 | Feb. 24, 2014 | Dec. 31, 2012 | Feb. 29, 2012 | Feb. 29, 2012 | Feb. 28, 2013 | Aug. 31, 2013 | |
Subsequent Event | Price adjustable warrants | Price adjustable warrants | Notes Payable | Notes Payable | Notes Payable | |||||||
Price adjustable warrants | Price adjustable warrants | Price adjustable warrants | ||||||||||
Amendment Five | Amendment Six | |||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares called by issuing warrants | ' | ' | ' | 4,000,000 | 1,000,000 | ' | ' | 3,700,000 | 3,200,000 | 6,900,000 | 1,000,000 | 4,000,000 |
Exercise price of warrants | ' | ' | ' | 0.28 | 0.28 | 0.28 | ' | ' | ' | 0.28 | 0.28 | 0.28 |
Minimum effective price protection in event of certain mergers or acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.28 | ' |
Gain on the change in the fair value of embedded derivatives | $242,000 | $829,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal and interest amount of promissory notes | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' |
Number of shares issuable through promissory notes | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' |
Notes payable | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable, interest expenses | ' | 200,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortized financing expense | ' | ' | 80,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on debt extinguishment | ($1,107,000) | ($2,037,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Number of warrants | ' |
Warrants outstanding | 11,916,801 |
Warrant issued | 5,000,000 |
Warrants outstanding | 16,916,801 |
Weighted average exercise price | ' |
Warrants outstanding, weighted average exercise price | $1.71 |
Warrants issued, weighted average exercise price | $0.28 |
Warrants outstanding, weighted average exercise price | $1.30 |
Expiring in 2014 | 95,631 |
Expiring in 2015 | 285,345 |
Expiring in 2016 | ' |
Expiring thereafter | 16,535,825 |
Stockholders_Equity_Preferred_
Stockholders' Equity (Preferred Stock) (Detail Textuals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 07, 2014 |
In Millions, except Share data, unless otherwise specified | Series A Junior Participating Preferred Stock | Series B Preferred Stock | Series C Preferred Stock | ||
Subsequent Event | |||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | 100,000 | 100,000 | ' | ' | ' |
Shares issued during period | ' | ' | 90,000 | 1,000 | 1,200 |
Proceeds from issuance of preferred stock | ' | ' | ' | ' | $6 |
Stockholders_Equity_Common_Sto
Stockholders' Equity (Common Stock) (Detail Textuals) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2012 | Jan. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Subsequent Event | Subsequent Event | Novosom | Novosom | |||||
Subsequent Event | ||||||||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Number of voting right | ' | ' | 'One vote | ' | ' | ' | ' | ' |
Amount owned from vendors | ' | ' | ' | $1.60 | ' | ' | ' | ' |
Common stock shares reserve for settlement of loan | ' | ' | ' | 3.9 | ' | ' | ' | ' |
Outstanding amount of loan from vendor | ' | ' | ' | 1.2 | ' | ' | ' | ' |
Shares issued during period for settlement of outstanding amounts due to vendors | ' | ' | ' | 3.8 | ' | ' | ' | ' |
Shares to be issued during period for settlement of outstanding amounts due to vendor | ' | ' | 0.1 | ' | ' | ' | ' | ' |
Value of shares issued during period for settlement of outstanding amounts due to vendors | ' | ' | 0.02 | ' | ' | ' | ' | ' |
Value of shares issued to landlord | ' | ' | ' | 1.5 | ' | ' | ' | ' |
Fair value of shares to be issued | ' | ' | 0.4 | ' | ' | 1.1 | ' | ' |
Description of consideration for sub-licensed lipid-delivery technology | ' | ' | ' | ' | ' | ' | 'As part of the asset purchase agreement that we entered into with Novosom in July 2012, we are obligated to pay Novosom 30% of any payments received by us for sub-licensed SMARTICLES® technology. The consideration is payable in a combination of cash (no more than 50% of total due) and common stock (between 50% and 100% of total due), at our discretion. | ' |
Shares issued as consideration for sub-licensed lipid-delivery technology | 0.34 | 0.34 | ' | ' | ' | ' | ' | ' |
Fair value of shares issued | 0.11 | 0.11 | ' | ' | ' | ' | ' | ' |
Commitment of additional issuance of shares for future | 0.51 | ' | ' | ' | ' | ' | ' | 0.5 |
Value of pledge shares | ' | ' | ' | ' | ' | ' | $0.17 | ' |
Shares to be issued during period for settlement of amounts due to employment agreement and accrued board fees | ' | ' | ' | ' | 2.69 | ' | ' | ' |
Stockholders_Equity_Warrants_D
Stockholders' Equity (Warrants) (Detail Textuals) (USD $) | Aug. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2012 | Feb. 29, 2012 | Feb. 29, 2012 | Jan. 31, 2014 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | Subsequent Event | Price adjustable warrants | Price adjustable warrants | Notes Payable | Warrants | Amended Note And Warrant Purchase Agreement | |||
Price adjustable warrants | Consultant | ||||||||
Subsequent Event | |||||||||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of note payable | ' | ' | ' | ' | ' | ' | $1.50 | ' | ' |
Exercise price of warrants | 0.28 | 0.28 | 0.28 | ' | ' | ' | 0.28 | 0.48 | 0.28 |
Interest rate on notes payable | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' |
Number of warrants called by common stock | 4,000,000 | 1,000,000 | ' | ' | 3,700,000 | 3,200,000 | 6,900,000 | 100,000 | 3,700,000 |
Warrants, vesting period | ' | ' | ' | ' | ' | ' | ' | '2 years | ' |
Number of common shares issued during period through exercise of warrants | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' |
Stock_Incentive_Plans_StockBas
Stock Incentive Plans (Stock-Based Compensation Expense) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation | $36 | $1 | $93 | $345 |
Research and development | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation | 19 | 34 | 41 | 186 |
General and administrative | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation | $17 | ($33) | $52 | $159 |
Stock_Incentive_Plans_Stock_Op
Stock Incentive Plans (Stock Option Activity) (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Shares | ' | ' |
Outstanding on January 1 | 284,829 | 576,773 |
Forfeitures and expirations | ' | -218,400 |
Outstanding on September 30 | 284,829 | 358,373 |
Exercisable as of September 30 | 233,641 | 254,682 |
Weighted Average Exercise Price | ' | ' |
Outstanding on January 1 | $39.46 | $26.16 |
Forfeitures and expirations | ' | $7.73 |
Outstanding on September 30 | $39.46 | $38.41 |
Exercisable as of September 30 | $47.40 | $52.70 |
Recovered_Sheet1
Stock Incentive Plans (Stock options outstanding ) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | |||||
$2.00 - $2.20 | $11.60 - $24.50 | $29.82 - $90.80 | $127.60 - $167.60 | $207.60 - $588.80 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lower range of price | ' | ' | ' | ' | ' | $2 | $11.60 | $29.82 | $127.60 | $207.60 |
Upper range of price | ' | ' | ' | ' | ' | $2.20 | $24.50 | $90.80 | $167.60 | $588.80 |
Options Outstanding, Number Outstanding | 284,829 | 284,829 | 358,373 | 576,773 | 284,829 | 154,288 | 11,175 | 84,694 | 28,166 | 6,506 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Years) | ' | ' | ' | ' | '6 years 7 months 21 days | '7 years 10 months 28 days | '6 years 9 months 4 days | '5 years 1 month 21 days | '4 years 8 months 16 days | '4 years 3 months 15 days |
Options Outstanding, Weighted Average Exercise Price | $39.46 | $39.46 | $38.41 | $26.16 | $39.46 | $2.02 | $22.44 | $61.40 | $136.60 | $250.55 |
Options Exercisable, Number Exercisable | 233,641 | ' | 254,682 | ' | 233,641 | 105,869 | 8,406 | 84,694 | 28,166 | 6,506 |
Options Exercisable, Weighted Average Exercise Price | $47.40 | ' | $52.70 | ' | $47.40 | $2.02 | $21.77 | $61.40 | $136.60 | $250.55 |
Options Outstanding, Weighted-Average Remaining Contractual Life, Exercisable (Years) | ' | ' | ' | ' | '6 years 4 months 13 days | ' | ' | ' | ' | ' |
Stock_Incentive_Plans_Detail_T
Stock Incentive Plans (Detail Textuals) (USD $) | 9 Months Ended | |||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | |
Stock Incentive Plans [Abstract] | ' | ' | ' | ' |
Options to purchase shares of common stock outstanding | 284,829 | 284,829 | 358,373 | 576,773 |
Unrecognized compensation cost related to unvested stock options | $140,000 | ' | ' | ' |
Unrecognized compensation cost related to unvested stock options, recognition period | '11 months | ' | ' | ' |
Intrinsic value of options outstanding | 0 | ' | ' | ' |
Intrinsic value of options exercisable | $0 | ' | ' | ' |
Intellectual_Property_and_Coll1
Intellectual Property and Collaborative Agreements (Detail Textuals) (USD $) | 1 Months Ended | ||||
In Millions, unless otherwise specified | Aug. 31, 2013 | Apr. 30, 2013 | Nov. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Arcturus | Tekmira | Tekmira | Mirna | Mirna | |
Subsequent Event | |||||
Compounds | |||||
Intellectual Property And Collaborative Agreements [Line Items] | ' | ' | ' | ' | ' |
Payment received under license agreement | $0.80 | ' | ' | ' | ' |
Upfront payment received under license agreement | ' | ' | 0.3 | 63 | 1 |
Additional payment received | ' | 0.2 | ' | ' | ' |
Number of compounds | ' | ' | ' | ' | 3 |
Future additional selection upfront payment | ' | ' | ' | ' | $0.50 |
Intellectual_Property_and_Coll2
Intellectual Property and Collaborative Agreements (Detail Textuals 1) (USD $) | 12 Months Ended | 1 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 | Oct. 31, 2008 |
Novosom | Ribotask | |
Subsequent Event | ||
Intellectual Property And Collaborative Agreements [Line Items] | ' | ' |
Cash payable | $0.15 | ' |
Additional common stock reserved for future issuance as consideration | 0.45 | ' |
Intellectual property payments | ' | $0.50 |
Commitments_and_Contingencies_
Commitments and Contingencies (Detail Textuals) (Letter of credit, USD $) | 0 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Mar. 01, 2013 | Sep. 30, 2013 |
Letter of credit | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' |
Maximum liability under standby letter of credit | ' | $1.20 |
Drawn by landlord from letter of credit | ' | 0.38 |
Common shares committed to be issued | $1.50 | ' |