Gene Biotherapeutics (CRXM) 10-Q 27 Oct 16 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 27, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	CRXM
Entity Registrant Name	Taxus Cardium Pharmaceuticals Group Inc.
Entity Central Index Key	772,320
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		13,623,544

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 18,217	$ 216,733
Prepaid expenses and other assets	19,828	202,957
Total current assets	38,045	419,690
Property and equipment, net	8,738	16,414
Investments		300,000
Other long-term assets		9,989
Total assets	46,783	746,093
Current liabilities:
Accounts payable	1,621,284	1,204,302
Accrued liabilities	967,916	535,251
Advances from related party – officer (net)	819,251	688,433
Total current liabilities	3,408,451	2,427,986
Total liabilities	3,408,451	2,427,986
Commitments and contingencies
Stockholders’ deficit:
Subscribed shares issuable – common stock	600,000
Common stock, $0.0001 par value; 200,000,000 shares authorized; issued and outstanding 12,975,044 at September 30, 2015 and 12,775,044 at December 31, 2014,	1,298	1,278
Additional paid-in capital	110,739,887	109,150,983
Accumulated deficit	(114,702,853)	(110,834,154)
Total stockholders’ deficit	(3,361,668)	(1,681,893)
Total liabilities and stockholders’ deficit	46,783	746,093
Series A Convertible Preferred Stock [Member]
Stockholders’ deficit:
Series A Convertible Preferred stock, $0.0001 par value; 40,000,000 shares authorized; issued and outstanding 1,116 at September 30, 2015 and 1,176 at December 31, 2014, with liquidation preferences of $1,000	$ 0	$ 0

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	12,975,044	12,775,044
Common stock, shares outstanding	12,975,044	12,775,044
Series A Convertible Preferred Stock [Member]
Series A Convertible Preferred stock, par value	$ 0.0001	$ 0.0001
Series A Convertible Preferred stock, shares authorized	40,000,000	40,000,000
Series A Convertible Preferred stock, shares issued	1,116	1,176
Series A Convertible Preferred stock, shares outstanding	1,116	1,176
Series A Convertible Preferred stock, liquidation preference value	$ 1,000	$ 1,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating expenses
Research and development	$ 108,671	$ 126,788	$ 486,759	$ 508,940
Selling, general and administrative	1,081,189	586,414	2,449,745	2,580,009
Total operating expenses	1,189,860	713,202	2,936,504	3,088,949
Loss from operations	(1,189,860)	(713,202)	(2,936,504)	(3,088,949)
Interest expense	(2,106)	(28,600)	(4,490)	(76,267)
Impairment loss on investment		(700,000)	(300,000)	(700,000)
Net loss	(1,191,966)	(1,441,802)	(3,240,994)	(3,865,216)
Deemed dividend on preferred stock	627,705		627,705
Net loss applicable to common stockholders	$ (1,819,671)	$ (1,441,802)	$ (3,868,699)	$ (3,865,216)
Net loss per share – Basic and diluted
Net loss per share – Basic and diluted	$ (0.14)	$ (0.12)	$ (0.30)	$ (0.36)
Weighted average common shares outstanding	12,902,549	12,261,971	12,818,232	10,730,928

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows From Operating Activities
Net loss	$ (3,240,994)	$ (3,865,216)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	7,677	10,515
Provision for obsolete inventory		75,000
Stock-based compensation	961,218	508,444
Impairment loss on investments	300,000	700,000
Changes in operating assets and liabilities
Prepaid expenses and other assets	183,129	12,312
Other long-term assets	9,989	60,000
Accounts payable	416,982	77,465
Accrued liabilities	432,665	(11,654)
Net cash used in operating activities	(929,334)	(2,433,134)
Cash Flows From Financing Activities
Cash advance from officer	130,818	652,289
Proceeds from subscribed shares issuable – common stock	600,000
Net proceeds from sales of preferred and common stock		1,829,999
Net cash provided by financing activities	730,818	2,482,288
Net increase (decrease) in cash	(198,516)	49,154
Cash and cash equivalents at beginning of period	216,733	22,489
Cash and cash equivalents at end of period	18,217	71,643
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$ 4,490
Non-Cash Activity:
Warrants issued in settlement of accounts payable		$ 3,200

Organization and Liquidity

Organization and Liquidity	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Organization and Liquidity	Note 1—Organization and Liquidity Organization Taxus Cardium sp was incorporated in Delaware in December 2003. We are a holding company that operates a medical technologies portfolio of equity-based and potential royalty-driven investments as follows: (1) Angionetics, currently a majority-owned subsidiary focused on the late-stage clinical development and commercialization of Generx®, an angiogenic gene therapy product candidate designed for medical revascularization for the potential treatment of patients with myocardial ischemia and refractory angina due to advanced coronary artery disease; (2) Activation Therapeutics a wholly owned subsidiary focused on the development and commercialization of the Excellagen® technology platform, the U.S. Food and Drug Administration (“FDA”)-cleared flowable dermal matrix for advanced wound care that has we believe broad potential applications as a delivery platform for small molecule drugs, proteins and biologics; (3) LifeAgain a wholly-owned subsidiary that has developed, an advanced medical data analytics (ADAPT®) technology platform focused on developing new and innovative products for the life insurance and healthcare sectors; and (4) a minority investment in Healthy Brands Collective, a functional food and nutraceutical company which acquired the Company’s To Go Brands® business. Formation of Angionetics Inc. Angionetics, a biotechnology company, incorporated by Taxus Cardium on April 13, 2015, was formed to create a separate company to develop Taxus Cardium’s Generx® cardiovascular gene therapy product candidate and technology platform. Our management team believes that the Generx® platform is undervalued in the current Taxus Cardium capital structure and believes that contributing the Generx® business to a separate entity will increase the opportunities for financing the continued development of Generx® through Phase III clinical trials. Taxus Cardium contributed to Angionetics all of the rights to our Generx® platform technology and will sell shares in Angionetics in order to raise capital based on a valuation of the Generx® platform technology for the purpose of funding the development and commercialization of Generx®. Our management also believes that funding for Generx® as a stand-alone company can be done at better pricing, resulting in less dilution and a “value unlock” for Taxus Cardium shareholders. The Company intends to retain a significant interest in Angionetics and return value to shareholders based on an increased value of its holdings through the independent external market valuation of Angionetics and the Generx® platform technology. Following the formation of Angionetics, our management team initiated a comprehensive review of the global Generx® regulatory and clinical dossier, and elected to primarily focus on the clinical advancement and registration of Generx® in the United States and China, which we believe to be the most dynamic medical markets in the world for new and novel breakthrough products such as the Generx® product candidate. As a result of this review, Angionetics now plans to focus on the late stage clinical and commercial development of Generx® in key target markets that include the U.S. and China. LifeAgain Activities On August 11, 2015, Symetra Financial Corporation (“Symetra”), our financial partner for LifeAgain initial Blue Metric term life insurance program for men with prostate cancer, announced that it entered into a definitive merger agreement with Sumitomo Life Insurance Company (“Sumitomo Life”) pursuant to which Sumitomo Life will acquire all of the outstanding shares of Symetra. Following the transaction, Symetra advised the Company that it was discontinuing its partnership with LifeAgain. LifeAgain plans to continue to seek opportunities for the application of medical analytics to commercialize “survivable risk” term life insurance for cancer survivors or others with medical conditions who are currently considered uninsurable based on traditional underwriting standards as well as other forms of survivable risk programs. On April 4, 2015, Taxus Cardium entered into a license agreement with Shenzhen Qianhi Taxus Industry Capital Management Co., Ltd., a company affiliated with Shanxi Taxus Pharamaceuticals Co. Ltd., for the license of LifeAgain’s medical analytics technology to develop and commercialize survivable risk life insurance products in Greater China. Liquidity and Going Concern As of September 30, 2015, we had $18,217 in cash and cash equivalents. Our working capital deficit at September 30, 2015 was $3,370,406. We anticipate that negative cash flow from operations will continue for the foreseeable future. We have yet to generate positive cash flows from operations, and are essentially dependent on equity and debt funding to finance our operations. We do not have any unused credit facilities. As long as any shares of the Company’s Series A Convertible Preferred Stock are outstanding, we have agreed that we will not, without the consent of the holders of two-thirds of the Series A Convertible Preferred Stock, incur indebtedness other than specified “Permitted Indebtedness”, or incur any liens other than specified “Permitted Liens”. Our history of recurring losses, and uncertainties as to whether the Company’s operations will become profitable, raise substantial doubt about our ability to continue as a going concern. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with the accounting principles generally accepted in the United States (“GAAP”), which contemplates continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The ability of the Company to continue its operations is dependent on the execution of management’s plans, which include the raising of capital through the debt and/or equity markets, until such time that funds provided by operations are sufficient to fund working capital requirements. The condensed consolidated financial statements contained in this report do not include any adjustments related to the recoverability of assets or classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. If the Company were not to continue as a going concern, it would likely not be able to realize its assets at values comparable to the carrying value or the fair value estimates reflected in the balances set out in the condensed consolidated financial statements. We intend to secure additional working capital through sales of equity securities and debt to finance our operations, or the sale of certain equity interests in the Company businesses, technology platforms, products or product candidates and licensing agreements covering the marketing and sale of Excellagen and Generx in certain geographic markets and regions. On April 4, 2015, we entered into a binding term sheet with Shenzhen Qianhai Taxus Industry Capital Management Co., Ltd. (“Shenzhen Qianhai Taxus”), as a lead investor, to purchase an equity stake in Angionetics. Under the terms of the agreement, Shenzhen Qianhai Taxus agreed to acquire 15% of Angionetics’ outstanding common stock for an aggregate purchase price of $3,000,000, payable in three tranches with the final payment due by May 31, 2015. Shenzhen Qianhai Taxus paid $600,000, but did not complete the transaction. See (Note 7)—Subsequent Events below. The $600,000 investment has been recorded as Subscribed shares issuable – common stock.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies Basis of Presentation The condensed consolidated financial statements contained in this report have been prepared in accordance with GAAP for interim financial statements and with Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. In the opinion of our management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Our accounting policies are described in the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2014, and updated, as necessary, in this Quarterly Report on Form 10-Q. Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates impacting the financial statements contained in this report include reserve for inventory, which is currently reserved at 100%, valuing options and warrants using option pricing models. Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, advances from related party, accounts payable, and accrued liabilities approximate fair value due to the short term maturities of these instruments. Principles of Consolidation The consolidated financial statements include the accounts of Taxus Cardium Pharmaceuticals Group, Inc. and its consolidated subsidiaries, Angionetics Inc., Activation Therapeutics, Inc. and LifeAgain Insurance Solutions, Inc. All significant inter-company transactions and balances have been eliminated in consolidation. Preferred Stock We apply the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of our preferred stock. Shares that are subject to mandatory redemption, if any, are classified as liability instruments and are measured at fair value. We classify conditionally redeemable preferred shares, which includes preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within our control, as temporary equity. At all other times, preferred shares are classified as stockholders’ equity. Research and Development In accordance with Accounting Standard Codification (“ASC”) Topic 730 “Research and Development”, research and development costs are expensed as incurred. Research and development expenses consist of purchased technology, purchased research and development rights and outside services for research and development activities associated with product development. In accordance with ASC Topic 730, the cost to purchase such technology and research and development rights are required to be charged to expense if there is currently no alternative future use for this technology and, therefore, no separate economic value. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The benefit of tax positions taken or expected to be taken in the Company’s income tax returns are recognized in the consolidated financial statements if such positions are more likely than not to be sustained upon examination. The portion of the benefit associated with tax positions taken that exceed the amount measured as described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Common Stock Purchase Warrants We account for common stock purchase warrants issued in connection with capital financing transactions in accordance with the provisions of ASC Topic 815 “Derivatives and Hedging”. Based upon the provisions of ASC Topic 815, we classify as equity any contracts that (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). Earnings (Loss) Per Common Share We compute earnings (loss) per share, in accordance with ASC Topic 260 “Earnings per Share”, which requires dual presentation of basic and diluted earnings per share. Basic earnings (loss) per common share is computed by dividing earnings (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per common share is computed by dividing earnings (loss) by the weighted average number of common shares outstanding, plus the issuance of common shares, if dilutive, that could result from the exercise of outstanding stock options and warrants. As of September 30, 2015, potentially dilutive securities consist of preferred stock convertible into 3,718,804 shares of common stock and outstanding stock options and warrants to acquire 7,353,848 shares of common stock. As of September 30, 2014, potentially dilutive securities consisted of preferred stock convertible into 1,826,380 shares of common stock and outstanding stock options and warrants to acquire 2,434,936 shares of our common stock. These potentially dilutive securities were not included in the calculation of loss per common share for the nine months ended September 30, 2015 or 2014 because their effect would be anti-dilutive. Stock-Based Compensation Stock-based compensation expense is recognized on a straight-line basis over the requisite service period of the award, which is generally the vesting term of the award. Total stock-based compensation expense included in the condensed consolidated statements of operations was allocated to research and development and general and administrative expenses as follows: For the Three Months Ended September 30, 2015 2014 (unaudited) Research and development $ 32,551 $ — General and administrative 670,833 1,161 Total stock-based compensation $ 703,384 $ 1,161 For the Nine Months Ended September 30, 2015 2014 (unaudited) Research and development $ 32,551 $ 51,409 General and administrative 928,667 457,035 Total stock-based compensation $ 961,218 $ 508,444 Investments We periodically reviews the carrying amount of our investments to determine whether the value is impaired or a write down may be necessary for other than temporary decline in value. During the nine months ended September 30, 2015, we recorded $300,000 in impairment expense related to our investment in Cell-nique (the owner of Healthy Brands Collective) as our management does not anticipate future cash flows from the investment. Recent Accounting Pronouncements In March, 2016, the Financial Accounting Standards Board ( “FASB” “ASU” ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB ASU 2016-02, Leases (Topic 842). In November 2015, the FASB ASU 2015-17, Balance Sheet Classification of Deferred Taxes In July 2015, the FASB ASU 2015-11, Simplifying the Measurement of Inventory In August 2014, the FASB Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2015
Payables And Accruals [Abstract]
Accrued Liabilities	Note 3—Accrued Liabilities Accrued liabilities consisted of the following: September 30, 2015 (unaudited) December 31, 2014 Payroll and benefits $ 634,677 $ 465,512 Technology fees 187,500 — Other 145,739 69,739 Total $ 967,916 $ 535,251

Advances From Related Party - O

Advances From Related Party - Officer	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Advances From Related Party - Officer	Note 4—Advances From Related Party - Officer Officers of the Company occasionally incur or advance expenses on behalf of the Company, which are subsequently reimbursed to the officers along with any associated costs. As of September 30, 2015 and December 31, 2014, $819,251 and $688,433, respectively, in net Company expenses incurred in the ordinary course of business that have been paid by or with cash advanced by the Company’s Chief Executive Officer.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	Note 5—Stockholders’ Equity Preferred Stock Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. On April 4, 2013, we entered into a securities purchase agreement with Sabby Healthcare Volatility Master Fund, Ltd. (“Sabby”) to purchase up to 4,012 shares of our newly authorized Series A Convertible Preferred Stock (the “Preferred Stock”) for maximum proceeds of $4.0 million. The Preferred Stock was convertible into shares of our common stock at an initial conversion price of $0.6437 per share. In addition, the conversion price is subject to downward adjustment if we issue common stock or common stock equivalents at a price less than the then effective conversion price. Sabby is limited to hold no more than 10% of Taxus Cardium’s issued and outstanding common stock at any time. As long as the Preferred Stock is outstanding, we have also agreed not to incur specified indebtedness without the consent of the holders of the Preferred Stock. These factors may restrict our ability to raise capital through equity or debt offerings in the future. On July 22, 2015, we entered into an Exchange and Redemption Agreement with Sabby relating to the 1,176 outstanding shares of Preferred Stock that remained outstanding at that time. Under the terms of the Exchange and Redemption Agreement, we agreed to reduce the conversion price sp of the Preferred Stock to sp $0.30 per share. The Agreement grants Taxus Cardium (1) a right to redeem any or all of the outstanding Preferred Stock for its stated value (approximately $1,000 per share) at any time during a 120 day period after the date of the Agreement, and (2) increases the limitation on certain indebtedness contained in the Certificate of Designation for the Preferred Stock to allow Taxus Cardium to borrow up to $250,000. We entered into the Agreement to increase our options for retiring the outstanding Preferred Stock and financing our continued business operations. As a result of the effective conversion price changing from $0.64 to $0.30 per share, the 1,176 shares of Preferred Stock outstanding are convertible to 3,918,667 shares of Taxus Cardium common stock, an additional 2,092,350 compared to before the conversion price change. A hypothetical conversion of all of the outstanding Preferred Stock into 3,718,667 common shares would increase the common stock outstanding from 12,975,044 shares as of September 30, 2015, to 16,693,711, an increase of 29%. As a result of such holder entering into this modification agreement, the holder received additional incremental shares, with a fair market value at the date of modification, totaling $627,705. This additional value was reflected as a deemed dividend in the statement of operations in arriving at net loss to common shareholders.. This reduction of the conversion price under the Exchange and Redemption Agreement triggered an anti-dilution protection in 3,485,908 previously granted common stock purchase warrants not held by Sabby, resulting in an additional 3,749,692 warrant shares to be granted for a total of 7,235,600 common stock purchase warrants with anti-dilutive provisions outstanding. The exercise price per common share in these warrants remains unchanged as the original common stock purchase warrant, a weighted average price of $0.71. Stock-based compensation expense of $693,801 related to this anti-dilution provision was recorded during the three months ended September 30, 2015. Stock Options and Other Equity Compensation Plans We have an equity incentive plan that was established in 2005 under which 283,058 shares of the Company’s common stock have been reserved for issuance to employees, non-employee directors and consultants of the Company. At September 30, 2015, the following shares were outstanding and available for future issuance under the option plan: Plan Shares Outstanding Shares Available for Issuance 2005 Equity Incentive Plan 78,250 204,808 On February 28, 2014, outside of the 2005 Equity Incentive Plan, we issued 1,457,100 common stock warrants to directors, officers and chief medical advisor. The warrants were approved by our Board of Directors, have a ten year term and an exercise price of $0.80 per share, which represented a 57% premium to the closing stock price on the date of issuance. The common stock warrants had a fair value of $0.34 per share and vested immediately. On March 23, 2015, outside of the 2005 Equity Incentive Plan, we issued 1,125,000 common stock warrants to directors, officers and chief medical advisor. The warrants were approved by our Board of Directors, have a ten year term and an exercise price of $0.60 per share, which represented a 216% premium to the closing stock price on the date of issuance. The warrants had a fair value of $0.10 per share and vested immediately. On March 23, 2015, we issued 10,000 non-qualified stock options to directors. The options were approved by our Board of Directors, have a seven year term and an exercise price of $0.19 per share, which equaled the closing stock price on the date of issuance. The stock options had a fair value of $0.14 per share. On May 1, 2015, outside of the 2005 Equity Incentive Plan, we issued 550,000 common stock warrants to directors and employees. The warrants were approved by our Board of Directors, have a ten year term and an exercise price of $0.60 per share, which represented a 20% premium to the closing stock price on the date of issuance. The warrants had a fair value of $0.37 per share and 300,000 vested immediately. 250,000 warrants have a 1 year cliff vesting. On May 8, 2015, outside of the 2005 Equity Incentive Plan, we issued 100,000 common stock warrants to a consultant. The warrants were approved by our Board of Directors, have a ten year term and an exercise price of $0.60 per share, which represented a 33% premium to the closing stock price on the date of issuance. The commons stock warrants had a fair value of $0.41 per share. 40,000 warrants vested immediately, and the remaining 60,000 warrants vested over three quarters. On August 4, 2015, the consulting agreement was terminated and the remaining 60,000 unvested warrants cancelled per the terms of the consulting agreement and the common stock purchase warrant. The following is a summary of stock option and warrant activity under the 2005 Equity Incentive Plan as well as the warrants issued outside of the plan to employees and consultants, during the nine months ended September 30, 2015: Number of Options or Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Balance outstanding, December 31, 2014 1,914,906 $ 2.44 8.74 Granted 5,534,692 0.67 9.10 Cancelled (unvested) (60,000 ) 0.60 — Expired (vested) (35,750 ) $ 24.11 — Balance outstanding, September 30, 2015 7,353,848 $ 1.02 8.85 Balance exercisable, September 30, 2015 7,093,841 $ 1.04 8.83 As of September 30, 2015, the Company had $50,732 of unvested stock-based compensation at fair value remaining to be expensed. As of September 30, 2015, there was no intrinsic value to the outstanding and exercisable options and warrants as their exercise price exceeded the market price of our common stock. The 2005 Equity Incentive Plan expired on October 20, 2015, ten years after its adoption, and we are no longer able to issue share or awards under that plan. All options or other awards issued under the 2005 Equity Incentive plan prior to its expiration remain outstanding in accordance with their terms. Warrants In addition to the warrants that we have issued as a form of compensation above, we have issued wattants to investors in connection with certain financing transactions. The following table summarizes outstanding warrants as of September 30, 2015: Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Balance outstanding, December 31, 2014 873,336 $ 17.79 1.06 Warrants expired (156,586 ) 26.07 Balance outstanding, September 30, 2015 716,750 $ 15.98 0.47 Warrants exercisable at September 30, 2015 716,750 $ 15.98 0.47 As of September 30, 2015, there was no intrinsic value to the outstanding and exercisable warrants as their exercise price exceeded the market value of our common stock.

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 6—Commitments and Contingencies In the course of our business, we are routinely involved in proceedings such as disputes involving goods or services provided by various third parties, which we do not consider likely to be material to the technology we develop or license, or the products we develop for commercialization, but which can result in costs and diversions of resources to pursue and resolve. In October 2014, we received a complaint filed by BioRASI LLC (“BioRASI”) in Broward County, Florida, seeking payments of approximately $0.5 million allegedly owed for services that BioRASI provided in connection with the Company’s clinical trial conducted in the Russian Federation. We are defending the action and have filed counterclaims. Although at September 30, 2015, the probable outcome of this matter cannot be determined, we believe that we have supportable defenses and any negative decision, if any, is expected to be insignificant. Accordingly, we have not recorded any provisions related to this matter.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 7—Subsequent Events We have evaluated events that occurred subsequent to September 30, 2015 and through the date the condensed consolidated financial statements were issued. Angionetics Formation On June 6, 2016, Taxus Cardium entered into a contribution agreement with Angionetics, pursuant to which Taxus Cardium contributed all of the assets and certain related liabilities related to the Generx ® On June 6, 2016, Taxus Cardium entered into a services agreement with Angionetics, pursuant to which Taxus Cardium agreed to provide services to Angionetics during a transition period. The services agreement provides that Taxus Cardium will assist Angionetics with the transfer of the Generx assets and liabilities without charge. Taxus Cardium has also agreed to provide certain administrative, commercial and clinical development services to Angionetics on a cost basis. Angionetics has also been granted a license to use certain of Taxus Cardium’s facilities in exchange for payment of 70% of the costs of the facilities. The transition services are provided without warranty or liability except in the case of fraud or willful misconduct. The services agreement also contemplates that as Angionetics develops its financing and business plan, it is anticipated that certain Taxus Cardium employees critical to the development of the Generx ® Schering AG Technology Transfer Agreement We are party to a Technology Transfer Agreement between Schering AG (now Bayer Pharma AG), Berlex, Inc. (now Bayer Healthcare Pharmaceuticals Inc), Collateral Therapeutics, Inc., and Taxus Cardium which covers the transfer or license of certain assets and technology, including patents relating to (i) methods of gene therapy for the treatment of cardiovascular disease (including methods for the delivery of genes to the heart or vasculature and the use of angiogenic and/or non-angiogenic genes for the potential treatment of diseases of the heart or vasculature); (ii) therapeutic genes that include fibroblast growth factors (including FGF-4); insulin-like growth factors (including IGF-I); and potentially other related biologics; and (3) other technology and know-how, including manufacturing and formulation technology, as well as data relating to the clinical development of Generx and corresponding FDA regulatory matters. Under this agreement, we paid Schering AG a $4.0 million upfront fee and, as the current holder of the license rights, are obligated to make a $10 million milestone payment upon the first commercial sale of each product using the licensed technology. On May 4, 2016, Bayer Pharma AG agreed to the transfer of the Technology Transfer Agreement from Taxus Cardium to Angionetics. Accordingly, Angionetics has assumed the obligation for any milestone payment required to be paid to Bayer Pharma AG. Under the terms of the Technology Transfer Agreement, Angionetics also may be obligated to pay the following royalties to Bayer Pharma AG: (i) 5% on net sales following a first commercial sale of an FGF-4 based product in the United States, Europe, or Japan, or (ii) 4% on net sales of other products developed based on technology transferred by Bayer Pharma AG (as successor to Schering AG) following a first commercial sale in the United States, Europe, or Japan, and (iii) a royalty of 2.5% (for FGF-4 based technology) or 2% (for other products) in territories where the product would not infringe the patents licensed by Bayer Pharma AG (as successor to Schering AG). Angionetics will also be obligated to reimburse Bayer Pharma AGfor patent expenses, including the expenses of any interference or other proceedings, accrued on or after April 1, 2005 in connection with the transferred technologies. To date there have been no sales or payments under this agreement. Huapont Life Sciences Angionetics Financing Agreement On June 7, 2016, Taxus Cardium and Angionetics entered into a Share Purchase Agreement with Pineworld Capital Limited an entity affiliated with Huapont Life Sciences Co. Ltd, a China-based pharmaceutical, and active pharmaceutical ingredient company (“Huapont”). Huapont is focused on the research and development of new and innovative healthcare products, and the manufacture, marketing and sale of leading pharmaceutical products, active pharmaceutical ingredients (known as APIs) and a portfolio of safe and effective agricultural herbicides (including NC16, NC34, NC36, NC125, NC201) serving the agricultural business throughout the U.S. and South American markets. Huapont’s pharmaceutical business includes dermatology products, cardiovascular products, anti-tuberculosis agents, autoimmune-related products and oncology-related products. Huapont’s API business involves the production and sale of bulk pharmaceutical chemicals, pharmaceutical intermediates and preparations of Western medicines, with current annual revenues of approximately $1.1 billion, and approximately 7,100 employees operating throughout mainland China. Huapont is listed on the Shenzhen Stock Exchange (002004.SZ) and trades at a current market capitalization of approximately $3.0 billion. Pursuant to the Share Purchase Agreement, Angionetics agreed to sell 600,000, shares of its newly authorized Series A Convertible Preferred Stock (the “Shares”) to the Huapont affiliate in exchange for $3,000,000 in cash. The Shares represent an initial 15% equity interest in Angionetics, resulting in a post-money valuation of $20.0 million for Angionetics, subject to certain anti-dilution protection described below. The investment from the Huapont affiliate was to be made in two tranches. The closing of the initial tranche of 200,000 Shares for $1,000,000 occurred on July 5, 2016. The closing of the second tranche of 400,000 Shares for $2,000,000 was conditioned upon Angionetics securing FDA clearance to initiate a new U.S.-based Phase 3 clinical study (the AFFIRM study) to evaluate the safety and definitive efficacy of the Generx® [Ad5FGF-4] product candidate for the treatment of patients with ischemic heart disease and refractory angina. On September 28, 2016, following FDA clearance of the Phase 3 AFFIRM study, Angionetics received $2,000,000 from the closing of the second tranche. Angionetics will require additional capital to complete the Phase 3 AFFIRM study, which it expects to secure through the sale of additional equity or debt securities. There are no agreements or arrangement for any additional financing in place at this time. The Angionetics Shares have the following rights, privileges and preferences: • Dividends • Liquidation • Voting • Conversion The Huapont financing replaced the prior April 4, 2015 term sheet with Shenzhen Qianhai Taxus, whereby Taxus Cardium proposed to sell Shenzhen Qianhai Taxus 600,000 shares of Angionetics common stock in exchange for $3.0 million in cash. The $3.0 million was to be paid in tranches that were to be completed by May 31, 2015. Shenzhen Qianhai Taxus paid $600,000 of the purchase price, but did not complete the investment. The $600,000 payment has been recorded as Subscribed shares issuable – common stock. This contribution is committed and not refundable to Shenzhen Qianhai Taxus. Generx License Agreement in Mainland China On June 7, 2016, Angionetics entered into a Distribution and License Agreement with an entity affiliated with Huapont. Under the terms of the agreement the Huapont affiliated entity has been granted an exclusive license to clinically develop, manufacture, market and sell the Generx® [Ad5FGF-4] angiogenic gene therapy product candidate in mainland China. Angionetics will be responsible for conducting the planned U.S.-based Phase 3 clinical program. Working in cooperation with researchers at Angionetics, Huapont’s affiliated entity has agreed to use commercially reasonable efforts to conduct clinical trials, make regulatory filings and take such other actions as may be necessary to commercialize Generx® in mainland China. Huapont’s affiliated entity will assume the costs associated with the commercial development of Generx® in mainland China. The Distribution and License Agreement provides for the Huapont affiliate to make quarterly royalty payments to Angionetics at a rate of 10% of net sales of Generx® products in mainland China, reducing to a 5% royalty based on the volume of annual sales. The royalty payments commence on the first commercial sale and expire on the earlier of the termination of any patent or regulatory exclusivity in China or fifteen years after the first commercial sale. The term of the agreement continues (unless terminated for breach) until Huapont’s affiliate has no remaining payment obligations to Angionetics. Upon expiration (but not an earlier termination) Huapont’s affiliate shall have a perpetual, non-exclusive, fully paid-up, and royalty free license to Generx® in mainland China. FDA Approval of Phase 3 Clinical Trial for Generx On December 18, 2015, pursuant to Section 505(i) of the U.S. Federal Food, Drug and Cosmetic Act, Angionetics submitted a request to the FDA Center for Biologics Evaluation and Research requesting transfer of sponsorship for the Generx Investigational New Drug (IND) application to Angionetics. Transfer of sponsorship was acknowledged by the FDA on January 5, 2016. Additionally, the FDA acknowledged Angionetics’ U.S. activation of the Ad5FGF-4 (Generx) Investigational New Drug Application (IND) pursuant to Section 505(i) of the Federal Food, Drug and Cosmetic Act. Consequently, the previously granted FDA “Fast Track” designation for the Generx development program continues forward. In addition, Angionetics submitted for FDA clearance a new U.S.-based Phase 3 clinical study protocol (the “AFFIRM” study) to evaluate the further safety and definitive efficacy of Generx [Ad5FGF-4] for men and women with advanced ischemic heart disease and refractory angina. On September 9, 2016, the U.S. FDA Center for Biologics Evaluation and Research (CBER) cleared Angionetics’ AFFIRM Phase 3 clinical study protocol, thus allowing Angionetics to proceed with late-stage clinical evaluation of Generx. The AFFIRM study patient population and trial design are based on Ad5FGF-4 responder data from the four prior FDA-cleared clinical studies. The primary efficacy endpoint is improvement in exercise treadmill test (ETT) duration in Generx-treated patients compared to a placebo control group. Enrolled patients must have refractory angina, documented clinical evidence of myocardial ischemia, clinically significant limitation of physical activity due to angina, and angina-limited ETT duration of 3-7 minutes. Status of Term Sheet with Dr. Reddy’s and Russian Generx Clinical Development Program Following the formation of Angionetics, our management team initiated a comprehensive review of Taxus Cardium’s global Generx regulatory and clinical dossier, and elected to primarily focus on the clinical advancement and registration of Generx in the United States and China, which we believe to be the most dynamic medical markets in the world for new and novel breakthrough products such as the Generx product candidate. As a result of this review, on July 13, 2016 the Company notified Dr. Reddy’s of its plan to discontinue its planned Generx development in the Russian Federation and other countries set forth in the term sheet and now plans to focus on the late stage clinical and commercial development of Generx in key target markets that include the U.S. and China. Consequently, the commercialization opportunity with Dr. Reddy’s Laboratories, previously reported by Taxus Cardium, will not be advanced to a definitive agreement. Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. On September 23, 2016, we entered into a second Exchange and Redemption Agreement with Sabby covering the 1,000 shares of Preferred Stock outstanding at the time. Under the terms of the Exchange and Redemption Agreement, Taxus Cardium agreed to reduce the conversion price at which Sabby can convert shares of Preferred Stock to common shares to an effective price of $0.18 per share. The Exchange and Redemption Agreement grants Taxus Cardium a right to redeem any or all of the outstanding Preferred Stock for its Stated Value (approximately $1,000 per share) at any time after the date of the Agreement until November 29, 2016. We entered into the Agreement to increase our options for retiring the outstanding Preferred Stock and financing our continued business operations. As a result of the conversion price changing from $0.30 to $0.18 per share, the 1,000 shares of Preferred Stock outstanding are convertible to 5,554,667 shares of Taxus Cardium common stock, an additional 2,221,867 compared to before the conversion price change. A hypothetical conversion of all of the outstanding Preferred Stock of 946 shares as of October 27, 2016 into 5,254,444 common shares would increase the common stock outstanding from 13,623,544 shares as of October 27, 2016, to 18,877,988, an increase of 39%.The reduction in the conversion price under the Exchange and Redemption Agreement triggered an anti-dilution protection in 7,235,600 previously granted common stock purchase warrants not held by Sabby, resulting in an additional 4,823,733 warrant shares to be granted for a total of 12,059,333 common stock purchase warrant with anti-dilutive provisions outstanding. The exercise price per common share in these warrants remains unchanged as the original common stock purchase warrant, a weighted average price of $0.71. Outstanding Capital Stock, Stock Options, and Warrants As of October 27, 2016, there were 13,623,544 shares of common stock issued and outstanding. There were 945.80 issued and outstanding shares of Series A Convertible Preferred Shares which are now convertible into 5,254,444 shares of common stock. In addition, there are 78,250 shares of common stock issuable upon the exercise of stock options which were awarded under the 2005 Equity Incentive Plan, which have a weighted average exercise price of $30.25 per share. As of October 27, 2016, there are 12,099,333 shares of common stock issuable upon the exercise of outstanding warrants which have an average exercise price of $0.71 per share for a total conversion price of $8,554,800, these warrants may also be redeemed through a cashless exercise whereby the warrant holder surrenders the required number of warrants needed to exercise the remaining warrants. Office Lease On June 23, 2016, we entered into a thirty-eight month lease agreement to lease office space commencing on September 30, 2016. The approximate base monthly rent in the first, second and third years is $3,500, $3,700, and $3,800 respectively. The base monthly rent in the final two months of the agreement is $3,900. The total base rent over the lease term equals $139,800. Related Party Transactions Officers of the Company occasionally incur or advance expenses on behalf of the Company, which are subsequently reimbursed to the officers along with any associated costs. As of September 30, 2016, $1,063,865 in net Company expenses incurred in the ordinary course of business have been paid by or with cash advanced by the Company’s Chief Executive Officer. This amount that has been advanced by the Chief Executive Officer is non-interest bearing.

Summary of Significant Accoun13

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements contained in this report have been prepared in accordance with GAAP for interim financial statements and with Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. In the opinion of our management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Our accounting policies are described in the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2014, and updated, as necessary, in this Quarterly Report on Form 10-Q.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates impacting the financial statements contained in this report include reserve for inventory, which is currently reserved at 100%, valuing options and warrants using option pricing models.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, advances from related party, accounts payable, and accrued liabilities approximate fair value due to the short term maturities of these instruments.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Taxus Cardium Pharmaceuticals Group, Inc. and its consolidated subsidiaries, Angionetics Inc., Activation Therapeutics, Inc. and LifeAgain Insurance Solutions, Inc. All significant inter-company transactions and balances have been eliminated in consolidation.
Preferred Stock	Preferred Stock We apply the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of our preferred stock. Shares that are subject to mandatory redemption, if any, are classified as liability instruments and are measured at fair value. We classify conditionally redeemable preferred shares, which includes preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within our control, as temporary equity. At all other times, preferred shares are classified as stockholders’ equity.
Research and Development	Research and Development In accordance with Accounting Standard Codification (“ASC”) Topic 730 “Research and Development”, research and development costs are expensed as incurred. Research and development expenses consist of purchased technology, purchased research and development rights and outside services for research and development activities associated with product development. In accordance with ASC Topic 730, the cost to purchase such technology and research and development rights are required to be charged to expense if there is currently no alternative future use for this technology and, therefore, no separate economic value.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The benefit of tax positions taken or expected to be taken in the Company’s income tax returns are recognized in the consolidated financial statements if such positions are more likely than not to be sustained upon examination. The portion of the benefit associated with tax positions taken that exceed the amount measured as described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination.
Common Stock Purchase Warrants	Common Stock Purchase Warrants We account for common stock purchase warrants issued in connection with capital financing transactions in accordance with the provisions of ASC Topic 815 “Derivatives and Hedging”. Based upon the provisions of ASC Topic 815, we classify as equity any contracts that (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).
Earnings (Loss) Per Common Share	Earnings (Loss) Per Common Share We compute earnings (loss) per share, in accordance with ASC Topic 260 “Earnings per Share”, which requires dual presentation of basic and diluted earnings per share. Basic earnings (loss) per common share is computed by dividing earnings (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per common share is computed by dividing earnings (loss) by the weighted average number of common shares outstanding, plus the issuance of common shares, if dilutive, that could result from the exercise of outstanding stock options and warrants. As of September 30, 2015, potentially dilutive securities consist of preferred stock convertible into 3,718,804 shares of common stock and outstanding stock options and warrants to acquire 7,353,848 shares of common stock. As of September 30, 2014, potentially dilutive securities consisted of preferred stock convertible into 1,826,380 shares of common stock and outstanding stock options and warrants to acquire 2,434,936 shares of our common stock. These potentially dilutive securities were not included in the calculation of loss per common share for the nine months ended September 30, 2015 or 2014 because their effect would be anti-dilutive.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense is recognized on a straight-line basis over the requisite service period of the award, which is generally the vesting term of the award. Total stock-based compensation expense included in the condensed consolidated statements of operations was allocated to research and development and general and administrative expenses as follows: For the Three Months Ended September 30, 2015 2014 (unaudited) Research and development $ 32,551 $ — General and administrative 670,833 1,161 Total stock-based compensation $ 703,384 $ 1,161 For the Nine Months Ended September 30, 2015 2014 (unaudited) Research and development $ 32,551 $ 51,409 General and administrative 928,667 457,035 Total stock-based compensation $ 961,218 $ 508,444
Investments	Investments We periodically reviews the carrying amount of our investments to determine whether the value is impaired or a write down may be necessary for other than temporary decline in value. During the nine months ended September 30, 2015, we recorded $300,000 in impairment expense related to our investment in Cell-nique (the owner of Healthy Brands Collective) as our management does not anticipate future cash flows from the investment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March, 2016, the Financial Accounting Standards Board ( “FASB” “ASU” ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB ASU 2016-02, Leases (Topic 842). In November 2015, the FASB ASU 2015-17, Balance Sheet Classification of Deferred Taxes In July 2015, the FASB ASU 2015-11, Simplifying the Measurement of Inventory In August 2014, the FASB Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Stock-Based Compensation Allocated to Research, Development, General and Administrative Expenses	Total stock-based compensation expense included in the condensed consolidated statements of operations was allocated to research and development and general and administrative expenses as follows: For the Three Months Ended September 30, 2015 2014 (unaudited) Research and development $ 32,551 $ — General and administrative 670,833 1,161 Total stock-based compensation $ 703,384 $ 1,161 For the Nine Months Ended September 30, 2015 2014 (unaudited) Research and development $ 32,551 $ 51,409 General and administrative 928,667 457,035 Total stock-based compensation $ 961,218 $ 508,444

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Payables And Accruals [Abstract]
Summary of Accrued Liabilities	Accrued liabilities consisted of the following: September 30, 2015 (unaudited) December 31, 2014 Payroll and benefits $ 634,677 $ 465,512 Technology fees 187,500 — Other 145,739 69,739 Total $ 967,916 $ 535,251

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Available Outstanding Shares for Future Issuance	At September 30, 2015, the following shares were outstanding and available for future issuance under the option plan: Plan Shares Outstanding Shares Available for Issuance 2005 Equity Incentive Plan 78,250 204,808
Summary of Stock Option and Warrant Activity under 2005 Equity Incentive Plan and Warrants Issued Outside of Plan to Employees and Consultants	The following is a summary of stock option and warrant activity under the 2005 Equity Incentive Plan as well as the warrants issued outside of the plan to employees and consultants, during the nine months ended September 30, 2015: Number of Options or Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Balance outstanding, December 31, 2014 1,914,906 $ 2.44 8.74 Granted 5,534,692 0.67 9.10 Cancelled (unvested) (60,000 ) 0.60 — Expired (vested) (35,750 ) $ 24.11 — Balance outstanding, September 30, 2015 7,353,848 $ 1.02 8.85 Balance exercisable, September 30, 2015 7,093,841 $ 1.04 8.83
Summary of Outstanding Warrants	The following table summarizes outstanding warrants as of September 30, 2015: Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Balance outstanding, December 31, 2014 873,336 $ 17.79 1.06 Warrants expired (156,586 ) 26.07 Balance outstanding, September 30, 2015 716,750 $ 15.98 0.47 Warrants exercisable at September 30, 2015 716,750 $ 15.98 0.47

Organization and Liquidity - Ad

Organization and Liquidity - Additional Information (Detail)	Apr. 04, 2015USD ($)Tranche	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2013USD ($)
Organization, Nature Of Operations And Liquidity [Line Items]
Incorporation date		Dec. 22, 2003
Cash and cash equivalents		$ 18,217	$ 216,733	$ 71,643	$ 22,489
Working capital deficit		$ 3,370,406
Majority of shareholders' consent to incur indebtedness other than specified permitted indebtedness		Two-thirds
Shenzhen Qianhai Taxus [Member]
Organization, Nature Of Operations And Liquidity [Line Items]
Business acquisition, date of agreement		Apr. 4, 2015
Acquired percentage of outstanding common stock	15.00%
Business acquisition, purchase price	$ 3,000,000
Number of tranches payable | Tranche	3
Payment for business acquisition	$ 600,000

Summary of Significant Accoun18

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accounting Policies [Abstract]
Percentage of inventory reserve		100.00%
Preferred stock converted into common stock	1,826,380	3,718,804	1,826,380
Outstanding stock options and warrants	2,434,936	7,353,848	2,434,936
Dilutive securities not included in calculation of loss per common share		0	0
Impairment expense related to investment	$ 700,000	$ 300,000	$ 700,000

Summary of Significant Accoun19

Summary of Significant Accounting Policies - Summary of Stock-Based Compensation Allocated to Research, Development, General and Administrative Expenses (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 703,384	$ 1,161	$ 961,218	$ 508,444
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	32,551		32,551	51,409
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 670,833	$ 1,161	$ 928,667	$ 457,035

Accrued Liabilities - Summary o

Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Accrued Liabilities Current [Abstract]
Payroll and benefits	$ 634,677	$ 465,512
Technology fees	187,500
Other	145,739	69,739
Total	$ 967,916	$ 535,251

Advances From Related Party -21

Advances From Related Party - Officer - Additional Information (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
Related party transaction, expenses paid by chief executive officer	$ 819,251	$ 688,433

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)

Aug. 04, 2015

Jul. 22, 2015

May 08, 2015

May 01, 2015

Mar. 23, 2015

Feb. 28, 2014

Apr. 04, 2013

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Dec. 31, 2014

Stockholders Equity [Line Items]

Preferred stock converted into common stock

3,718,804

1,826,380

3,718,804

1,826,380

Common stock, shares outstanding

12,975,044

12,975,044

12,775,044

Deemed dividend on preferred stock

$ 627,705

$ 627,705

Total stock-based compensation

703,384

$ 1,161

961,218

$ 508,444

Unvested stock-based compensation at fair value of remaining shares

50,732

50,732

Intrinsic value of options outstanding

0

0

Intrinsic value of options exercisable

0

0

Intrinsic value of warrants outstanding

0

0

Intrinsic value of warrants exercisable

$ 0

$ 0

Directors [Member] | Non-qualified Stock Options [Member]

Stockholders Equity [Line Items]

Non-qualified stock options issued to directors

10,000

Options expiration term

7 years

Options exercise price per share

$ 0.19

Stock options fair value per share

$ 0.14

2005 Equity Incentive Plan [Member]

Stockholders Equity [Line Items]

Common stock reserved for issuance

283,058

283,058

Options expiration term

10 years

Plan expiration date

Oct. 20, 2015

2005 Equity Incentive Plan [Member] | Directors, Officers and Chief Medical Advisor [Member]

Stockholders Equity [Line Items]

Common stock warrants, issued

1,125,000

1,457,100

Common stock warrants, term

10 years

10 years

Common stock warrants, exercise price

$ 0.60

$ 0.80

Common stock warrants, premium percentage

216.00%

57.00%

Common stock warrants, fair value per share

$ 0.10

$ 0.34

2005 Equity Incentive Plan [Member] | Directors and Employees [Member]

Stockholders Equity [Line Items]

Common stock warrants, issued

550,000

Common stock warrants, term

10 years

Common stock warrants, exercise price

$ 0.60

Common stock warrants, premium percentage

20.00%

Common stock warrants, fair value per share

$ 0.37

Common stock warrants, vested

300,000

Vesting period

1 year

2005 Equity Incentive Plan [Member] | Directors and Employees [Member] | 1 Year Cliff Vesting [Member]

Stockholders Equity [Line Items]

Common stock warrants, vested

250,000

2005 Equity Incentive Plan [Member] | Consultant [Member]

Stockholders Equity [Line Items]

Common stock warrants, issued

100,000

Common stock warrants, term

10 years

Common stock warrants, exercise price

$ 0.60

Common stock warrants, premium percentage

33.00%

Common stock warrants, fair value per share

$ 0.41

Common stock warrants, vested

40,000

Agreement termination date

Aug. 4, 2015

Common stock warrants cancelled

60,000

2005 Equity Incentive Plan [Member] | Consultant [Member] | Warrants Vested Over Three Quarters [Member]

Stockholders Equity [Line Items]

Common stock warrants, vested

60,000

Series A Convertible Preferred Stock [Member]

Stockholders Equity [Line Items]

Series A Convertible Preferred stock, shares authorized

40,000,000

40,000,000

40,000,000

Series A Convertible Preferred stock, shares outstanding

1,116

1,116

1,176

Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Stockholders Equity [Line Items]

Common stock, shares outstanding

16,693,711

12,975,044

12,975,044

Increase in common stock outstanding, percentage

29.00%

Granted common stock purchase warrants

3,485,908

Additional warrant shares to be granted

3,749,692

Common stock purchase warrants outstanding with anti-dilutive provisions

7,235,600

Weighted average price of warrant

$ 0.71

Total stock-based compensation

$ 693,801

Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member] | Series A Convertible Preferred Stock [Member]

Stockholders Equity [Line Items]

Effective conversion price per share

$ 0.30

Series A Convertible Preferred stock, shares outstanding

1,176

Stated value per share for redemption

$ 1,000

Preferred stock redemption period

120 days

Maximum limit on indebtedness

$ 250,000

Preferred stock converted into common stock

3,918,667

Additional preferred stock converted into common stock

2,092,350

Deemed dividend on preferred stock

$ 627,705

Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member] | Series A Convertible Preferred Stock [Member] | Maximum [Member]

Stockholders Equity [Line Items]

Effective conversion price per share

$ 0.64

Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member] | Series A Convertible Preferred Stock [Member] | Minimum [Member]

Stockholders Equity [Line Items]

Effective conversion price per share

$ 0.30

Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member] | Share Purchase Agreement [Member] | Maximum [Member]

Stockholders Equity [Line Items]

Percentage of common stock issued and outstanding

10.00%

Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member] | Share Purchase Agreement [Member] | Series A Convertible Preferred Stock [Member]

Stockholders Equity [Line Items]

Series A Convertible Preferred stock, shares authorized

4,012

Effective conversion price per share

$ 0.6437

Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member] | Share Purchase Agreement [Member] | Series A Convertible Preferred Stock [Member] | Maximum [Member]

Stockholders Equity [Line Items]

Proceeds from issuance of preferred stock

$ 4,000,000

Hypothetical Conversion on Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member] | Series A Convertible Preferred Stock [Member]

Stockholders Equity [Line Items]

Preferred stock converted into common stock

3,718,667

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Available Outstanding Shares for Future Issuance (Detail) - shares	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2005 Equity Incentive Plan, Shares Outstanding	7,353,848	1,914,906
2005 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2005 Equity Incentive Plan, Shares Outstanding	78,250
2005 Equity Incentive Plan, Shares Available for Issuance	204,808

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Option and Warrant Activity under 2005 Equity Incentive Plan and Warrants Issued Outside of Plan to Employees and Consultants (Detail) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options or Warrants, Balance outstanding, Beginning Balance	1,914,906
Number of Options or Warrants, Granted	5,534,692
Number of Options or Warrants, Cancelled (unvested)	(60,000)
Number of Options or Warrants, Expired (vested)	(35,750)
Number of Options or Warrants, Balance outstanding, Ending Balance	7,353,848	1,914,906
Number of Options or Warrants, Exercisable, Ending Balance	7,093,841
Weighted Average Exercise Price, Balance outstanding, Beginning Balance	$ 2.44
Weighted Average Exercise Price, Granted	0.67
Weighted Average Exercise Price, Cancelled(unvested)	0.60
Weighted Average Exercise Price, Expired (vested)	24.11
Weighted Average Exercise Price, Balance outstanding, Ending Balance	1.02	$ 2.44
Weighted Average Exercise Price, Exercisable, Ending Balance	$ 1.04
Weighted Average Remaining Contractual Life (in years), Balance	8 years 10 months 6 days	8 years 8 months 27 days
Weighted Average Remaining Contractual Life (in years), Granted	9 years 1 month 6 days
Weighted Average Remaining Contractual Life (in years), Exercisable, Ending Balance	8 years 9 months 29 days

Stockholders' Equity - Summar25

Stockholders' Equity - Summary of Outstanding Warrants (Detail) - Warrants [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Class Of Warrant Or Right [Line Items]
Balance outstanding, Beginning, Number of Warrants	873,336
Warrants expired, Number of Warrants	(156,586)
Balance outstanding, Ending, Number of Warrants	716,750	873,336
Warrants exercisable at September 30, 2015, Number of Warrants	716,750
Balance outstanding, Beginning, Weighted Average Exercise Price	$ 17.79
Warrants expired, Weighted Average Exercise Price	26.07
Balance outstanding, Ending, Weighted Average Exercise Price	15.98	$ 17.79
Warrants exercisable at September 30, 2015, Weighted Average Exercise Price	$ 15.98
Balance outstanding, Weighted Average Remaining Contractual Life (in years)	5 months 19 days	1 year 22 days
Warrants exercisable at September 30, 2015, Weighted Average Remaining Contractual Life (in years)	5 months 19 days

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - BioRASI LLC [Member] - USD ($)	1 Months Ended
	Oct. 31, 2014	Sep. 30, 2015
Loss Contingencies [Line Items]
Complaint filed seeking payments related to clinical trial	$ 500,000
Provision related to clinical trial		$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)

Oct. 27, 2016USD ($)$ / sharesshares

Sep. 28, 2016USD ($)

Sep. 23, 2016$ / sharesshares

Jul. 05, 2016USD ($)shares

Jun. 23, 2016USD ($)

Jun. 07, 2016USD ($)EmployeeTrancheshares

Jun. 06, 2016USD ($)

May 04, 2016USD ($)

Jul. 22, 2015$ / sharesshares

Apr. 04, 2015USD ($)

Apr. 04, 2013USD ($)$ / sharesshares

Sep. 30, 2015USD ($)shares

Sep. 30, 2016USD ($)

Dec. 31, 2014shares

Sep. 30, 2014shares

Subsequent Event [Line Items]

Preferred stock converted into common stock

3,718,804

1,826,380

Common stock, shares outstanding

12,975,044

12,775,044

Common stock shares sold

12,975,044

12,775,044

2005 Equity Incentive Plan [Member]

Subsequent Event [Line Items]

2005 Equity Incentive Plan, Shares Available for Issuance

204,808

Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Common stock, shares outstanding

16,693,711

12,975,044

Increase in common stock outstanding, percentage

29.00%

Granted common stock purchase warrants

3,485,908

Additional warrant shares to be granted

3,749,692

Common stock purchase warrants outstanding with anti-dilutive provisions

7,235,600

Weighted average price of warrant | $ / shares

$ 0.71

Shenzhen Qianhai Taxus [Member]

Subsequent Event [Line Items]

Business acquisition, purchase price | $

$ 3,000,000

Payment for business acquisition | $

$ 600,000

Series A Convertible Preferred Stock [Member]

Subsequent Event [Line Items]

Preferred stock, shares authorized

40,000,000

40,000,000

Series A Convertible Preferred stock, shares outstanding

1,116

1,176

Series A Convertible Preferred stock, shares issued

1,116

1,176

Series A Convertible Preferred Stock [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Series A Convertible Preferred stock, shares outstanding

1,176

Effective conversion price per share | $ / shares

$ 0.30

Stated value per share for redemption | $ / shares

$ 1,000

Preferred stock converted into common stock

3,918,667

Additional preferred stock converted into common stock

2,092,350

Pineworld Capital Limited [Member] | Huapont Life Sciences [Member] | Mainland China [Member]

Subsequent Event [Line Items]

Royalty payment period

quarterly

Royalty description

The royalty payments commence on the first commercial sale and expire on the earlier of the termination of any patent or regulatory exclusivity in China or fifteen years after the first commercial sale. The term of the agreement continues (unless terminated for breach) until Huapont’s affiliate has no remaining payment obligations to Angionetics.

Minimum [Member] | Series A Convertible Preferred Stock [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Effective conversion price per share | $ / shares

$ 0.30

Maximum [Member] | Series A Convertible Preferred Stock [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Effective conversion price per share | $ / shares

$ 0.64

Schering AG Technology Transfer Agreement [Member]

Subsequent Event [Line Items]

Technology transaction fees | $

$ 4,000,000

Milestone payment obligated as sale of product | $

$ 10,000,000

Share Purchase Agreement [Member] | Series A Convertible Preferred Stock [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Preferred stock, shares authorized

4,012

Effective conversion price per share | $ / shares

$ 0.6437

Share Purchase Agreement [Member] | Maximum [Member] | Series A Convertible Preferred Stock [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Proceeds from issuance of preferred stock | $

$ 4,000,000

Subsequent Event [Member]

Subsequent Event [Line Items]

Common stock, shares outstanding

13,623,544

Common stock shares sold

13,623,544

Common stock issuable upon the exercise of outstanding warrants

12,099,333

Average exercise price per share | $ / shares

$ 0.71

Conversion price of warrants, amount | $

$ 8,554,800

Subsequent Event [Member] | Office Lease [Member]

Subsequent Event [Line Items]

Lease agreement term

38 months

Monthly base rent in year one | $

$ 3,500

Monthly base rent in year two | $

3,700

Monthly base rent in year three | $

3,800

Monthly base rent in the final two months of the agreement | $

3,900

Total base rent over the lease term | $

$ 139,800

Subsequent Event [Member] | 2005 Equity Incentive Plan [Member]

Subsequent Event [Line Items]

2005 Equity Incentive Plan, Shares Available for Issuance

78,250

Weighted Average Exercise Price, Exercised | $ / shares

$ 30.25

Subsequent Event [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Common stock, shares outstanding

18,877,988

13,623,544

Increase in common stock outstanding, percentage

39.00%

Granted common stock purchase warrants

7,235,600

Additional warrant shares to be granted

4,823,733

Common stock purchase warrants outstanding with anti-dilutive provisions

12,059,333

Weighted average price of warrant | $ / shares

$ 0.71

Subsequent Event [Member] | Shenzhen Qianhai Taxus [Member]

Subsequent Event [Line Items]

Business acquisition, purchase of number of shares

600,000

Business acquisition, purchase price | $

$ 3,000,000

Payment for business acquisition | $

600,000

Subsequent Event [Member] | Series A Convertible Preferred Stock [Member]

Subsequent Event [Line Items]

Series A Convertible Preferred stock, shares outstanding

945.80

Series A Convertible Preferred stock, shares issued

945.80

Subsequent Event [Member] | Series A Convertible Preferred Stock [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Series A Convertible Preferred stock, shares outstanding

946

1,000

Effective conversion price per share | $ / shares

$ 0.18

Stated value per share for redemption | $ / shares

$ 1,000

Preferred stock redemption date

Nov. 29, 2016

Preferred stock converted into common stock

5,254,444

5,554,667

Additional preferred stock converted into common stock

2,221,867

Subsequent Event [Member] | Series A Preferred Stock [Member]

Subsequent Event [Line Items]

Preferred stock converted into common stock

5,254,444

Subsequent Event [Member] | Huapont Life Sciences [Member]

Subsequent Event [Line Items]

Revenues | $

$ 1,100,000,000

Anti-dilution protection of equity interest

15.00%

Anti-dilution protection of post-money valuation | $

$ 20,000,000

Number of tranches | Tranche

2

Subsequent Event [Member] | Huapont Life Sciences [Member] | Series A Convertible Preferred Stock [Member] | Initial Tranche [Member]

Subsequent Event [Line Items]

Preferred stock, shares authorized

200,000

Proceeds from issuance of preferred stock | $

$ 1,000,000

Subsequent Event [Member] | Huapont Life Sciences [Member] | Series A Convertible Preferred Stock [Member] | Second Tranche [Member]

Subsequent Event [Line Items]

Preferred stock, shares authorized

400,000

Proceeds from issuance of preferred stock | $

$ 2,000,000

Subsequent Event [Member] | Huapont Life Sciences [Member] | Shenzhen Stock Exchange [Member]

Subsequent Event [Line Items]

Current market capitalization | $

$ 3,000,000,000

Subsequent Event [Member] | Huapont Life Sciences [Member] | Mainland China [Member]

Subsequent Event [Line Items]

Number of employees | Employee

7,100

Subsequent Event [Member] | Chief Executive Officer [Member]

Subsequent Event [Line Items]

Related party transaction, net expenses paid by chief executive officer | $

$ 1,063,865

Subsequent Event [Member] | Angionetics Inc. [Member] | Series A Convertible Preferred Stock [Member]

Subsequent Event [Line Items]

Percentage of stock convertible at pro rata basis

15.00%

Preferred stock conversion basis

The Shares are initially convertible on a one to one basis into Angionetics common stock.

Subsequent Event [Member] | Angionetics Inc. [Member] | Huapont Life Sciences [Member] | Second Tranche [Member]

Subsequent Event [Line Items]

Proceeds from issuance of preferred stock | $

$ 2,000,000

Subsequent Event [Member] | Angionetics Inc. [Member] | Services Agreement [Member]

Subsequent Event [Line Items]

Facilities costs payment percentage

70.00%

Subsequent Event [Member] | Pineworld Capital Limited [Member] | Huapont Life Sciences [Member] | Mainland China [Member]

Subsequent Event [Line Items]

Royalty expiration period

15 years

Subsequent Event [Member] | Minimum [Member] | Series A Convertible Preferred Stock [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Effective conversion price per share | $ / shares

$ 0.18

Subsequent Event [Member] | Minimum [Member] | Pineworld Capital Limited [Member] | Huapont Life Sciences [Member] | Mainland China [Member]

Subsequent Event [Line Items]

Royalty percentage on net sales

5.00%

Subsequent Event [Member] | Maximum [Member] | Series A Convertible Preferred Stock [Member] | Exchange and Redemption Agreement with Sabby Healthcare Volatility Master Fund, Ltd. [Member]

Subsequent Event [Line Items]

Effective conversion price per share | $ / shares

$ 0.30

Subsequent Event [Member] | Maximum [Member] | Pineworld Capital Limited [Member] | Huapont Life Sciences [Member] | Mainland China [Member]

Subsequent Event [Line Items]

Royalty percentage on net sales

10.00%

Subsequent Event [Member] | Contribution Agreement [Member] | Angionetics Inc. [Member]

Subsequent Event [Line Items]

Technology fee payable upon earlier of qualified initial public offering | $

$ 2,000,000

Shares lock up period

12 months

Subsequent Event [Member] | Contribution Agreement [Member] | Minimum [Member] | Angionetics Inc. [Member]

Subsequent Event [Line Items]

Percentage of outstanding capital stock

9.99%

Subsequent Event [Member] | Bayer Pharma AG [Member]

Subsequent Event [Line Items]

Transfer agreement description

Bayer Pharma AG agreed to the transfer of the Technology Transfer Agreement from Taxus Cardium to Angionetics. Accordingly, Angionetics has assumed the obligation for any milestone payment required to be paid to Bayer Pharma AG

Royalty percentage on net sales

5.00%

Royalties to net sales of other product

4.00%

Subsequent Event [Member] | Bayer Pharma AG [Member] | FGF-4 Based Product Without Infringe Patent [Member]

Subsequent Event [Line Items]

Royalty percentage on net sales

2.50%

Subsequent Event [Member] | Bayer Pharma AG [Member] | Other Products Without Infringe Patent [Member]

Subsequent Event [Line Items]

Royalty percentage on net sales

2.00%

Subsequent Event [Member] | Bayer Pharma AG [Member] | Angionetics Inc. [Member]

Subsequent Event [Line Items]

Milestone payment obligated as sale of product | $

$ 0

Sales under transfer agreement | $

$ 0

Subsequent Event [Member] | Share Purchase Agreement [Member] | Angionetics Inc. [Member] | Huapont Life Sciences [Member] | Series A Convertible Preferred Stock [Member]

Subsequent Event [Line Items]

Preferred stock, shares authorized

600,000

Proceeds from issuance of preferred stock | $

$ 3,000,000