Emisphere (EMIS) 10-K 29 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 01, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	EMIS
Entity Registrant Name	EMISPHERE TECHNOLOGIES INC
Entity Central Index Key	805,326
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		60,687,478
Entity Public Float			$ 23,932,400

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 12,898	$ 3,683
Accounts receivable, net	455
Inventories	1,340	2,068
Prepaid expenses and other current assets	1,081	188
Total current assets	15,774	5,939
Equipment and leasehold improvements, net	12	25
Other assets	24	24
Total assets	15,810	5,988
Current liabilities:
Accounts payable and accrued expenses	2,121	1,846
Notes payable, related party net of related discount	7,000
Deferred revenue, current portion	631
Royalty payable - Related party	208
Derivative instruments
Related party	12,690	5,548
Others	205	239
Total current liabilities	22,855	7,633
Notes payable, related party net of related discount	54,172	44,546
Derivative instruments - Related party	35,071	24,133
Deferred revenue	55,616	41,616
Deferred lease liability and other liabilities	14	10
Total liabilities	$ 167,728	$ 117,938
Commitments and contingencies
Stockholders' deficit:
Preferred stock, $.01 par value; authorized 4,000,000 shares at December 31, 2015 and 2014; issued and outstanding at December 31, 2015 and 2014 - none
Common stock, $.01 par value; authorized 400,000,000 shares at December 31, 2015 and 2014 issued 60,977,210 shares (60,687,478 outstanding) at December 31, 2015 and 2014	$ 610	$ 610
Additional paid-in capital	405,944	405,531
Accumulated deficit	(554,520)	(514,139)
Common stock held in treasury, at cost; 289,732 shares	(3,952)	(3,952)
Total stockholders' deficit	(151,918)	(111,950)
Total liabilities and stockholders' deficit	$ 15,810	$ 5,988

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	60,977,210	60,977,210
Common stock, shares outstanding	60,687,478	60,687,478
Treasury stock, shares	289,732	289,732

Statements of Operations

Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Net revenue	$ 411
Cost of goods sold	892
Gross profit (loss)	(481)
Costs and expenses:
Research and development	475	$ 1,128	$ 836
General and administrative	5,950	5,968	6,749
Selling expenses	11,176	2,194
Loss on disposal of fixed assets			10
Depreciation and amortization	14	15	9
Total costs and expenses	17,615	9,305	7,604
Operating loss	(18,096)	(9,305)	(7,604)
Other non-operating income (expense):
Investment and other income	12	10	81
Change in fair value of derivative instruments
Related party	(13,950)	(12,172)	(8,491)
Others	34	300	58
Interest expense - related party	(8,966)	(6,232)	(4,955)
Total other non-operating income (expense)	(22,870)	(18,094)	(13,307)
Loss before income tax benefit (expense)	(40,966)	(27,399)	(20,911)
Income tax benefit (expense)	585	2,019	(28)
Net loss	$ (40,381)	$ (25,380)	$ (20,939)
Net loss per share, basic and diluted	$ (0.67)	$ (0.42)	$ (0.35)
Weighted average shares outstanding, basic and diluted	60,687,478	60,687,478	60,687,478

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	$ (40,381)	$ (25,380)	$ (20,939)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	14	15	9
Non-cash interest expense:
Related party	8,756	6,007	4,955
Changes in the fair value of derivative instruments:
Related party	13,950	12,172	8,491
Others	(34)	(300)	(58)
Non-cash compensation	413	231	205
Loss on disposal of fixed assets			10
Changes in assets and liabilities excluding non-cash charges:
(Increase) decrease in accounts receivable	(455)		1
Decrease (increase) inventories	728	(1,361)	19
(Increase) in prepaid expenses and other current assets	(893)	(43)	(473)
Decrease in security deposits		10
Increase in accounts payable, accrued expenses	274	306	615
(Decrease) increase in other current liabilities		(30)	30
Increase in royalty payable	208
Increase in deferred revenue	14,631		10,002
Increase (decrease) in deferred lease and other liabilities	4	3	(2)
Total adjustments	37,596	17,010	823,804
Net cash provided by (used in) provided by operating activities	(2,785)	(8,370)	2,865
Cash flows from investing activities:
Decrease in restricted cash			247
Purchase of fixed assets			(46)
Net cash provided by investing activities			201
Cash flows from financing activities:
Proceeds from notes payable	12,000	8,000
Payments for debt issue costs			(497)
Net cash provided by (used in) financing activities	12,000	8,000	(497)
Net increase (decrease) in cash and cash equivalents	9,215	(370)	2,569
Cash and cash equivalents, beginning of year	3,683	4,053	1,484
Cash and cash equivalents, end of year	12,898	3,683	4,053
Non-cash investing and financing activities:
Debt discounts issued in debt modifications			4,041
Conversion of accrued interest to notes payable	$ 8,756	$ 5,542	$ 3,031

Statements of Stockholders' Def

Statements of Stockholders' Deficit - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Common Stock Held in Treasury [Member]
Beginning Balance at Dec. 31, 2012	$ (66,066)	$ 610	$ 405,096	$ (467,820)	$ (3,952)
Beginning Balance, shares at Dec. 31, 2012		60,977,210			289,732
Net loss	(20,939)			(20,939)
Stock based compensation for employees	47		47
Stock based compensation for directors	157		157
Ending Balance at Dec. 31, 2013	(86,801)	$ 610	405,300	(488,759)	$ (3,952)
Ending Balance, shares at Dec. 31, 2013		60,977,210			289,732
Net loss	(25,380)			(25,380)
Stock based compensation for employees	71		71
Stock based compensation for directors	160		160
Ending Balance at Dec. 31, 2014	(111,950)	$ 610	405,531	(514,139)	$ (3,952)
Ending Balance, shares at Dec. 31, 2014		60,977,210			289,732
Net loss	(40,381)			(40,381)
Stock based compensation for employees	164		164
Stock based compensation for directors	249		249
Ending Balance at Dec. 31, 2015	$ (151,918)	$ 610	$ 405,944	$ (554,520)	$ (3,952)
Ending Balance, shares at Dec. 31, 2015	9,253,876	60,977,210			289,732

Nature of Operations, Risks and

Nature of Operations, Risks and Uncertainties and Liquidity	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Nature of Operations, Risks and Uncertainties and Liquidity	1. Nature of Operations, Risks and Uncertainties and Liquidity Nature of Operations. Emisphere Technologies, Inc. is a commercial stage pharmaceutical and drug delivery company. We are in partnership with global pharmaceutical companies to develop new formulations of existing products, as well as new chemical entities, using our Eligen ® ® Our core business strategy is to build new, high-value partnerships and continue to expand upon existing partnerships, pursue the global commercialization of oral Eligen B12™ to optimize its economic value, evaluate commercial opportunities for new prescription medical foods, and promote new uses for our Eligen ® Risks and Uncertainties. Since our inception in 1986, we have generated significant losses from operations and we anticipate that we will continue to generate significant losses from operations for the foreseeable future, and that in order to continue as a going concern, our business will require substantial additional investment that we have not yet secured. As of December 31, 2015, our accumulated deficit was approximately $554.5 million. Our loss from operations was $18.1 million, $9.3 million and $7.6 million for the years ended December 31, 2015, 2014 and 2013, respectively. Our net loss was $40.4 million, $25.4 million and $20.9 million for the years ended December 31, 2015, 2014 and 2013, respectively. Our net cash provided (outlays) from operations and capital expenditures were ($2.8), ($8.4) million and $3.1 million for the years ended December 31, 2015, 2014 and 2013, respectively. Net cash provided (outlays) include receipts of deferred revenue of $14.6, $0.0 million and $10.0 million for 2015, 2014, and 2013, respectively. Our stockholders’ deficit was $151.9 million and $111.9 million as of December 31, 2015 and 2014, respectively. On December 31, 2015 we had approximately $12.9 million in cash. As of December 31, 2015, the Company’s obligations included approximately $46.5 million (face value) under its Second Amended and Restated Convertible Notes (the “Convertible Notes”), approximately $22.8 million (face value) under a loan agreement entered into on August 20, 2014 (the “Loan Agreement”), approximately $0.8 million (face value) under its Second Amended and Restated Reimbursement Notes (the “Reimbursement Notes”), and approximately $2.1 million (face value) under its Second Amended and Restated Bridge Notes (the “Bridge Notes”). The Convertible Notes and the Loan Agreement are subject to various sales, operating and manufacturing performance criteria. Under the terms of the Loan Agreement, described in Note 7 to the Financial Statements, Emisphere borrowed an aggregate of $20.0 million to finance the development, manufacturing, marketing and sales of its oral Eligen B12™ Rx Product. The loan facility will mature on December 31, 2019 and bears interest at a rate of 13% per year. The first borrowing under the Loan Agreement occurred on August 20, 2014, in an original principal amount of $5.0 million, the second occurred on November 4, 2014 in an original principal amount of $3.0 million, the third occurred on January 6, 2015 in an original principal amount of $5.0 million, the fourth occurred on April 6, 2015 in an original principal amount of $5.0 million, and the fifth and final borrowing occurred on July 1, 2015 in an original principal amount of $2.0 million. In the event that we do not satisfy annual net sales targets of Eligen B12™ by December 31 for each fiscal year beginning 2015 through 2019, we will be in default under the Loan Agreement, provided that we are not granted a waiver of the event of default resulting from the failure to satisfy the net sales target. On November 10, 2015, the creditor under our Loan Agreement and Convertible Notes agreed to waive any event of default resulting from our failure to satisfy the net sales milestones for the Eligen B12™ product for the 2015 fiscal year specified in our Loan Agreement and Convertible Notes. On October 26, 2015, we received a total payment of $14 million from Novo Nordisk pursuant to, and consisting of, $5 million as payment for entry into the Expansion License Agreement and $9 million as payment in connection with the third amendment to the GLP-1 License Agreement. Under terms of its loan agreements, the Company is obligated to pre-pay certain loans and notes using 50% of any extraordinary receipts, such as the $14 million received from Novo Nordisk. The creditor under our Loan Agreement and Reimbursement Notes has agreed to extend the date by which we are required to use 50% of the $14 million received from Novo Nordisk to pre-pay certain loans and notes until April 6, 2016. However, because such pre-payment deadline has not been extended beyond one year from December 31, 2015, we have classified $7.0 million as a current liability as of December 31, 2015. We believe that our current cash balance will provide sufficient capital to continue operations through approximately June 2016. However, if the pre-payment obligation is further extended or waived, the Company will have sufficient cash to operate through approximately June 2017. The Company’s future capital requirements beyond June 2016 (or June 2017, in the event the pre-payment obligation is further extended or waived) and its financial success depend largely on its ability to raise additional capital, including by leveraging existing and securing new partnering opportunities for Eligen B12™ and for the Eligen technology. While our plan is to raise capital from product partnering opportunities, strategic transactions, and/or commercial operations to address our capital deficiencies and meet our operating cash requirements, there is no assurance that our plans will be successful. If we fail to generate sufficient capital from commercial operations or partnerships, we will need to seek capital from other sources and risk default under the terms of our existing loans. We cannot assure you that financing will be available on favorable terms or at all. If we fail to generate sufficient additional capital from sales of oral Eligen B12 ™ ®

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of Estimates. Reclassification Concentration of Credit Risk. Cash, Cash Equivalents, and Investments. Trade Accounts Receivable and Allowance for Doubtful Accounts. Inventory. Impairment of Long-Lived Assets. Equipment and Leasehold Improvements. Deferred Lease Liability. straight-line Revenue Recognition. Revenue Recognition. Oral Eligen B12™ Rx Product We sell our Oral Eligen B12™ Rx product through drug wholesalers and retail pharmacies. We recognize revenue from prescription product sales, net of sales discounts, chargebacks, and rebates. We accept returns of unsalable product from customers within a return period of six months prior to and 12 months following product expiration. Our Oral Eligen B12™ Rx product currently has a shelf life of 24 months from the date of manufacture. Given the limited history of our Oral Eligen B12™ Rx product, we currently cannot reliably estimate expected returns of the prescription products at the time of shipment. Accordingly, we will defer recognition of revenue on prescription products until the right of return no longer exists, which occurs at the earlier of the time the Oral Eligen B12™ Rx product is dispensed through patient prescriptions or expiration of the right of return. Collaborative Agreements and Feasibility Studies Revenue earned from collaborative agreements and feasibility studies is comprised of reimbursed research and development costs, as well as upfront and research and development milestone payments. Deferred revenue represents payments received which are related to future performance. Revenue from feasibility studies, which are typically short term in nature, is recognized upon delivery of the study, provided that all other revenue recognition criteria are met. Revenue from collaboration agreements are recognized using the proportional performance method provided that we can reasonably estimate the level of effort required to complete our performance obligations under an arrangement and such performance obligations are provided on a best effort basis and based on “expected payments.” Under the proportional performance method, periodic revenue related to nonrefundable cash payments is recognized as the percentage of actual effort expended to date as of that period to the total effort expected for all of our performance obligations under the arrangement. Actual effort is generally determined based upon actual hours incurred and include research and development (“R&D”) activities performed by us and time spent for Joint Steering Committee (“JSC”) activities. Total expected effort is generally based upon the total R&D and JSC hours incorporated into the project plan that is agreed to by both parties to the collaboration. Significant management judgments and estimates are required in determining the level of effort required under an arrangement and the period over which we expect to complete the related performance obligations. Estimates of the total expected effort included in each project plan are based on historical experience of similar efforts and expectations based on the knowledge of scientists for both the Company and its collaboration partners. The Company periodically reviews and updates the project plan for each collaborative agreement. The most recent reviews took place in January 2015. In the event that a change in estimate occurs, the change will be accounted for using the cumulative catch-up method which provides for an adjustment to revenue in the current period. Estimates of our level of effort may change in the future, resulting in a material change in the amount of revenue recognized in future periods. Generally under collaboration arrangements, nonrefundable payments received during the period of performance may include time- or performance-based milestones. The proportion of actual performance to total expected performance is applied to the “expected payments” in determining periodic revenue. However, revenue is limited to the sum of (i) the amount of nonrefundable cash payments received and (ii) the payments that are contractually due but have not yet been paid. With regard to revenue recognition in connection with development and license agreements that include multiple deliverables, Emisphere’s management reviews the relevant terms of the agreements and determines whether such deliverables should be accounted for as a single unit of accounting in accordance with FASB ASC 605-25, Multiple-Element Arrangements ® ® Research and Development and Clinical Trial Expenses. Clinical research expenses represent obligations resulting from our contracts with various research organizations in connection with conducting clinical trials for our product candidates. We account for those expenses on an accrual basis according to the progress of the trial as measured by patient enrollment and the timing of the various aspects of the trial. Accruals are recorded in accordance with the following methodology: (i) the costs for period expenses, such as investigator meetings and initial start-up costs, are expensed as incurred based on management’s estimates, which are impacted by any change in the number of sites, number of patients and patient start dates; (ii) direct service costs, which are primarily ongoing monitoring costs, are recognized on a straight-line basis over the life of the contract; and (iii) principal investigator expenses that are directly associated with recruitment are recognized based on actual patient recruitment. All changes to the contract amounts due to change orders are analyzed and recognized in accordance with the above methodology. Change orders are triggered by changes in the scope, time to completion and the number of sites. During the course of a trial, we adjust our rate of clinical expense recognition if actual results differ from our estimates. Income Taxes. Stock-Based Employee Compensation. Advertising Expenses. Fair Value of Financial Instruments. Derivative Instruments. Fair Value Measurements. • Level 1 — Quoted prices in active markets for identical assets or liabilities • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or corroborated by observable market data for substantially the full term of the assets or liabilities • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the value of the assets or liabilities Future Impact of Recently Issued Accounting Standards New Accounting Pronouncements During May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The new guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In July 2015, the FASB voted to delay the effective date of ASU 2014-09 by one year to the first quarter of 2018 to provide companies sufficient time to implement the standards. Early Adoption will be permitted, but not before the first quarter of 2017. Adoption can occur using one of two prescribed transition methods. The Company is currently evaluating the impact of the new standard. During April 2015, the FASB issued ASU 2015-03, “Interest — Imputation of Interest” (“ASU 2015-03”), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 is effective for annual and interim periods beginning on or after December 15, 2015. The adoption of ASU 2015-03 is not expected to have a material impact on our financial position, results of operations or cash flows. During July 2015, the FASB issued ASU No. 2015-11, “Simplifying the Measurement of Inventory” (“ASU 2015-11”). ASU 2015-11 requires that inventory within the scope of the guidance be measured at the lower of cost and net realizable value. Inventory measured using last-in, first-out (LIFO) and retail inventory method (RIM) are excluded from this new guidance. This ASU replaces the concept of market with the single measurement of net realizable value and is intended to create efficiencies for preparers and more closely aligns U.S. GAAP with IFRS. This ASU is effective for public business entities in fiscal years beginning after December 15, 2016, including interim periods within those years. Prospective application is required and early adoption is permitted as of the beginning of an interim or annual reporting period. The adoption of ASU 2015-11 is not expected to have a material impact on our financial position, results of operations or cash flows. During August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which provides guidance on management’s responsibility in evaluating whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. The adoption of ASU 2014-15 is not expected to have a material impact on our financial position, results of operations or cash flows. During January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments — Overall: Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). The standard addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is not permitted with the exception of certain provisions related to the presentation of other comprehensive income. The adoption of ASU 2016-01 is not expected to have a material impact on our financial position, results of operations or cash flows. During February 2016, the FASB issued ASU No. 2016-02, “Leases” (“ASU 2016-02”). The standard requires lessees to recognize a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months on its balance sheet. The update also expands the required quantitative and qualitative disclosures surrounding leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of the new standard. Management does not believe there would have been a material effect on the accompanying financial statements had any other recently issued, but not yet effective, accounting standards been adopted in the current period.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventory	3. Inventory Inventory consists of the following: December 31, 2015 2014 (In thousands) Raw Materials $ 558 $ 1,350 Work-in-process — 718 Finished Goods 782 — Total $ 1,340 $ 2,068

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Prepaid Expenses and Other Current Assets	4. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: December 31, 2015 2014 (In thousands) Prepaid corporate insurance $ 93 $ 53 Deposit on inventory 184 — Prepaid expenses and other current assets 804 135 $ 1,081 $ 188

Fixed Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Fixed Assets	5. Fixed Assets Equipment and leasehold improvements, net, consists of the following: December 31, Useful Lives In Years 2015 2014 (In thousands) Equipment 3-7 $ 601 $ 601 Leasehold improvements Term of lease 27 27 628 628 Less, accumulated depreciation and amortization 616 603 $ 12 $ 25 Depreciation expense for the years ended December 31, 2015, 2014 and 2013, was $14 thousand, $15 thousand and $9 thousand, respectively.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	6. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consist of the following: December 31, 2015 2014 (In thousands) Accounts payable $ 1,762 $ 530 Accrued legal, professional fees and other 304 1,262 Accrued vacation 55 54 $ 2,121 $ 1,846

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Notes Payable	7. Notes Payable Notes payable, net of related discounts, consists of the following: December 31, 2015 2014 (in thousands) Convertible Notes $ 37,450 $ 35,332 Loan Agreement 22,801 8,307 Reimbursement Notes 755 636 Bridge Notes 166 271 61,172 44,546 Less: Current portion 7,000 — Non-current Notes payable, net of related discounts $ 54,172 $ 44,546 Loan Agreement The Loan Agreement provides for, among other things, a commitment (the “Commitment”) of the Lenders to loan the Company up to $20 million to finance the development, manufacturing, marketing and sale of oral Eligen B12™ Rx (the “B12 Product”). The Loan Agreement provides for five borrowings (each, a “Borrowing”, and collectively, the “Loan”). The first Borrowing occurred on August 20, 2014 in an original principal amount of $5 million, the second occurred on November 4, 2014, in an original principal amount of $3 million, the third occurred on January 6, 2015 in an original principal amount of $5.0 million, the fourth occurred on April 6, 2015 in an original principal amount of $5.0 million, and the fifth and final borrowing occurred on July 1, 2015 in an original principal amount of $2.0 million. In addition, as described below, if the Company does not have sufficient cash in excess of the Minimum Cash Balance to pay any Royalties that become due under the Royalty Agreement in cash, such Royalties will be paid as an additional Loan under the Loan Agreement by increasing the principal amount outstanding under the Loan Agreement (any such Loan, “Paid-In-Kind Royalties”). The “Minimum Cash Balance” generally means cash on hand (plus certain cash expenditures during such fiscal year that are unrelated to the B12 Product or related products) of at least $10 million (or $15 million, under certain circumstances beginning as early as October 1, 2015), subject to certain permitted deductions. On December 31, 2015, the Company had a $12.6 million cash balance, greater than the $10 million Minimum Cash Balanuce as defined under the Loan Agreement, therefore $0.2 million Royalties payable under the Royalty Agreement for 2015 were due in cash. MHR has agreed to extend the date by which we are required to make the $0.2 million Royalty payment in cash under the terms of the Royalty Agreement until April 6, 2016. Except with respect to Paid-In-Kind Royalties incurred under the Loan Agreement after all amounts of principal and interest have previously been paid in full, the Loan will mature on the earlier of (a) December 31, 2019, and, (b) 30 days after the end of any fiscal year in which the Company’s cash (plus certain cash expenditures during such fiscal year that are unrelated to the B12 Product or related products) as of the end of such fiscal year (subject to certain permitted deductions) is more than three times the principal amount of the Loan as of the end of such fiscal year. Paid-In-Kind Royalties incurred under the Loan Agreement after all amounts of principal and interest have previously been paid in full mature one year following the date of incurrence. The Loan bears interest at a rate of 13% per annum (the “Interest Rate”), compounded monthly, and will be payable in kind and in arrears on June 30 and December 31 of each year up to and including the maturity date by increasing the outstanding principal amount of the Loan by the amount of each such interest payment. So long as an event of default under the Loan Agreement (an “Event of Default”) has occurred and is continuing, at the election of MHR, interest shall accrue on the Loan at a rate equal to 2% per annum above the Interest Rate (“Default Rate”). Interest at the Default Rate shall accrue from the initial date of such Event of Default until that Event of Default is cured or waived in writing and shall be payable upon demand and, if not paid when due, shall itself bear interest at the Default Rate. The Loan must be repaid from time to time prior to maturity pursuant to (a) a cash sweep of 50% of the Company’s adjusted consolidated free cash flow, or 75% of the Company’s adjusted consolidated free cash flow in any year in which the adjusted consolidated free cash flow exceeds $50 million, to the extent such cash sweep does not cause the Company’s cash as of the end of such year to be less than the Minimum Cash Balance, (b) a cash sweep of 50% of any cash proceeds received from any third party in connection with the license, distribution or sale of any of the Company’s products other than the B12 Product or related products (the “Non-B12 Products”), subject to the priority described below, and (c) a Royalty Match (as described below), to the extent such Royalty Match does not cause the Company’s cash as of the end of such year to be less than the Minimum Cash Balance and subject to the priority described below. The Loan Agreement provides for certain representations and warranties, conditions precedent to the Lenders’ obligation to lend, affirmative and negative covenants of the Company (including, but not limited to, certain milestones in the development of its B12 Products) and Events of Default. In connection with the cash proceeds of $14 million from Novo Nordisk in October 2015, the Company was obligated to pre-pay $0.8 million of the Reimbursement Notes and $6.2 million of the Loans on November 26, 2015. The creditor under our Loan Agreement and Reimbursement Notes has agreed to extend the date by which we are required to pre-pay such amounts under the Loan Agreement and Reimbursement Notes until April 6, 2016. However, because such pre-payment deadline has not been extended beyond one year from December 31, 2015, we have classified $0.8 million of the Reimbursement Notes and $6.2 million of the Loans as a current liability as of December 31, 2015 in the accompanying balance sheet. In connection with the entry into the Loan Agreement, on August 20, 2014, the Lenders and the Company further amended and restated (i) the Convertible Notes issued by the Company to certain of the Lenders, (ii) the Bridge Notes issued by the Company to certain of the Lenders, and (iii) the Reimbursement Notes (and, together with the Convertible Notes and Bridge Notes, the “MHR Notes”). Also, in connection with the entry into the Loan Agreement and the amendment and restatement of the MHR Notes, Institutional Partners IIA and the Company have amended the Pledge and Security Agreement, dated September 26, 2005, as amended, by and between the Company and Institutional Partners IIA to, among other things, secure the Reimbursement Notes and payments due under the Loan Agreement with substantially all of the Company’s assets, and secure the payments due under the Royalty Agreement and Paid-In-Kind Royalties due under the Loan Agreement with the Company’s intellectual property relating to the B12 Products and related products. As of December 31, 2015, the principal balance of the Loan agreement was $22.8 million. Convertible Notes. The August 20, 2014 amended and restated Convertible Notes provide for a maturity date of March 31, 2022 (subject to acceleration upon the occurrence of certain specified events of default, including the failure to meet certain sales, performance, and manufacturing milestones specified in the Convertible Notes). The interest rate is 13% per annum, compounded monthly, which interest will be payable in the form of additional Convertible Notes. The Convertible Notes are collateralized by a first priority lien in favor of the Lenders on substantially all of the Company’s assets. After all principal and interest under the Loan Agreement and Reimbursement Notes are repaid, the remaining Convertible Notes must be redeemed from time to time prior to maturity pursuant to a cash sweep of 50% of the Company’s adjusted consolidated free cash flow (75% of the Company’s adjusted consolidated free cash flow in any year in which the Company’s adjusted consolidated free cash flow exceeds $50 million) to the extent such cash sweep does not cause the Company’s cash as of the end of such year to be less than the Minimum Cash Balance. The Convertible Notes are convertible, at the option of the holders, at a conversion price of $1.25 per share of common stock, which conversion price is subject to adjustment upon the occurrence of specified events, including stock dividends, stock splits, certain fundamental corporate transactions, and certain issuances of common stock by the Company. The Convertible Notes must also be redeemed from time to time prior to maturity pursuant to (a) a cash sweep of 50% of any cash proceeds received from any third party in connection with the license, distribution or sale of any Non-B12 Product, subject to the priority described below and (b) a Royalty Match (as described below), to the extent such Royalty Match does not cause the Company’s cash as of the end of such year to be less than the Minimum Cash Balance and subject to the priority described below. If we fail to meet our obligations under the terms of the Convertible Notes, or fail to meet any of the sales, operating or manufacturing performance criteria included in the Convertible Notes, we would be in default under these notes, which would give MHR the option of foreclosing on substantially all of our assets. As of December 31, 2015, the principal balance of the Convertible Notes was $46.5 million; and the Convertible Notes were convertible into 37,233,561 shares of our common stock. The Company is required to satisfy annual net sales targets of Eligen B12™ by December 31 for each fiscal year beginning 2015 through 2019 pursuant to the terms of the Loan Agreement and Convertible Notes. Failure to satisfy the sales targets will result in an event of default under these instruments, provided that the Company is not granted a waiver. On November 10, 2015, the Lenders agreed to waive any event of default resulting from the failure to satisfy the net sales milestones for the Eligen B12™ product for the 2015 fiscal year specified in the Loan Agreement and Convertible Notes. Reimbursement Notes. The Reimbursement Notes provide for a maturity date of the earlier of (a) March 31, 2022 and (b) immediately prior to the time that any amounts outstanding under the Loan Agreement are repaid (subject to acceleration upon the occurrence of certain events of default specified in the Reimbursement Notes), and bear interest at the rate of 10% per annum, compounded monthly, which interest is payable in the form of additional Reimbursement Notes. The Reimbursement Notes are collateralized by a first priority lien in favor of the Lenders on substantially all of the Company’s assets. The Reimbursement Notes are convertible, at the option of the holders, at a conversion price of $0.50 per share of common stock, which conversion price is subject to adjustment upon the occurrence of specified events, including stock dividends, stock splits, certain fundamental corporate transactions, and certain issuances of common stock by the Company. The Reimbursement Notes must also be redeemed from time to time prior to maturity pursuant to a cash sweep of 50% of any cash proceeds received from any third party in connection with the license, distribution or sale of any Non-B12 Product, subject to the priority described below. As of December 31, 2015, the principal balance of the Reimbursement Notes was $0.8 million; and the Reimbursement Notes were convertible into 1,510,682 shares of our common stock. In connection with the cash proceeds of $14 million from Novo Nordisk in October 2015, the Company was obligated to pre-pay $0.8 million of the Reimbursement Notes and $6.2 million of the Loans on November 26, 2015. The creditor under the Reimbursement Notes and Loan Agreement has agreed to extend the date by which we are required to pre-pay such amounts under the Reimbursement Notes and Loan Agreement until April 6, 2016. However, because such pre-payment deadline has not been extended beyond one year from December 31, 2015, we have classified $0.8 million of the Reimbursement Notes and $6.2 million of the Loans as a current liability as of December 31, 2015 in the accompanying balance sheet. Bridge Notes. The Bridge Notes provide for a maturity date of March 31, 2022 (subject to acceleration upon the occurrence of certain events of default specified) and bear interest at 13% per year, compounded monthly and payable in the form of additional Bridge Notes. The Bridge Notes are collateralized by a first priority lien in favor of the Lenders on substantially all of the Company’s assets. The Bridge Notes are convertible, at the option of the holders, at a conversion price of $0.50 per share of common stock, which conversion price is subject to adjustment upon the occurrence of specified events, including stock dividends, stock splits, certain fundamental corporate transactions, and certain issuances of common stock by the Company. The Bridge Notes must also be redeemed from time to time prior to maturity pursuant to (a) a cash sweep of 50% of any cash proceeds received from any third party in connection with the license, distribution or sale of any Non-B12 Product, subject to the priority described below and (b) a Royalty Match (as described below), to the extent such Royalty Match does not cause the Company’s cash as of the end of such year to be less than the Minimum Cash Balance and subject to the priority described below. As of December 31, 2015, the principal balance of the Bridge Notes was $2.1 million; and the Reimbursement Notes were convertible into 4,229,826 shares of our common stock. The priority of the cash sweep for Non-B12 Products is as follows: (i) to redeem the Reimbursement Notes, (ii) to prepay principal and interest outstanding under the Loan Agreement; (ii) to reduce the Commitment; (iv) to redeem the Convertible Notes; and (v) to redeem the Bridge Notes. As a condition to MHR entering into the Loan Agreement and amending and restating the MHR Notes, the Company and MHR entered into a Royalty Agreement (the “Royalty Agreement”) on August 20, 2014, pursuant to which the Company agreed to pay to MHR, subject to specified terms and conditions, royalties in perpetuity (the “Royalties”), commencing as of the date of the Royalty Agreement, in an amount equal to: twenty percent (20%) of all Net Product Sales (as defined in the Royalty Agreement) and any third party payments arising in connection with the sale of the B12 Product and related products, during any fiscal year; provided that, from and after October 1, 2015, if no amount of indebtedness is outstanding under the Loan Agreement (the “Indebtedness Repayment Condition”), such amount shall be reduced to (i) five percent (5%) of all Net Sales and third party payments commencing with the first quarter immediately following the quarter in which the Indebtedness Repayment Condition is satisfied, or (ii) two and one half percent (2.5%) of all Net Sales commencing with the quarter immediately following the quarter in which the Indebtedness Repayment Condition is satisfied, but only with respect to the Net Sales made in any country in which there was not a Valid Patent Claim (as defined in the Royalty Agreement) and where generic entry of a competitive product not by the Company or its affiliates that does not infringe a Valid Patent Claim in such country has occurred, in each case as of the last day of such Fiscal Quarter. Once the royalty rate has been reduced to 5%, the rate shall not be reinstated to 20% even if amounts become outstanding under the Loan Agreement as a result of Paid-In-Kind Royalties. Payments of Royalties shall be made in cash to the extent such Royalties do not cause the Company’s cash as of the end of any year to be less than the Minimum Cash Balance, and otherwise shall be paid as Paid-In-Kind Royalties. If any Royalties become due under the Royalty Agreement when the royalty rate is 5% or 2.5%, the amount outstanding under the Loan Agreement, Convertible Notes and Bridge Notes shall be reduced in an amount equal to such royalty payment, to the extent such payment does not cause the Company’s cash as of the end of such year to be less than the Minimum Cash Balance (the “Royalty Match”), in the following priority: (i) first, to prepay the Loan; (ii) second, to redeem the Convertible Notes; and (iii) finally, to redeem the Bridge Notes. Additional fees paid by Emisphere in connection with the Loan Agreement, MHR Notes and the Royalty Agreement included the reimbursement of $225 thousand of MHR’s professional fees associated with the transaction, which was recorded as interest expense for the year ended December 31, 2014. In 2014, we accounted for the modifications to the Company’s obligations to MHR evidenced by the MHR Notes as a troubled debt restructuring under FASC ASC 470-60. As there was only a modification of terms to the existing debt and we did not transfer any assets or equity in a settlement to MHR no gain or loss was recorded on the transaction. The change in cash outflows resulting from the modification of terms are accounted for on a prospective basis. The carrying value of the MHR Obligations is comprised of the following: December 31, 2015 2014 (in thousands) Amended and Restated Convertible Notes $ 46,542 $ 40,897 Loan Agreement 22,801 8,307 Amended and Restated Reimbursement Notes 755 683 Amended and Restated Bridge Notes 2,115 1,855 Unamortized discounts (11,041 ) (7,196 ) $ 61,172 $ 44,546

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	8. Derivative Instruments Derivative instruments consist of the following: December 31, 2015 2014 (in thousands) Convertible Notes $ 30,823 $ 21,501 Reimbursement Notes 1,118 705 Bridge Notes 3,130 1,926 Amended and Restated August 2009 Warrants 2,142 930 Amended and Restated June 2010 MHR Warrants 552 282 Amended and Restated August 2010 Warrants 1,507 654 August 2010 Investor Warrants* — 29 Amended and Restated August 2010 MHR Waiver Warrants 560 243 Amended and Restated July 2011 Warrants 1,729 750 July 2011 Investor Warrants 205 210 Amended and Restated July 2011 MHR Waiver Warrants 456 198 May 2013 MHR Modification Warrants 5,744 2,492 $ 47,966 $ 29,920 * These warrants expired August 2015. Some of the Company’s outstanding derivative instruments have an exercise price reset feature. The estimated fair value of warrants and embedded conversion features that have an exercise price reset feature is estimated using the Monte Carlo valuation model. The estimated fair value of warrants that do not contain an exercise price reset feature is measured using the Black-Scholes valuation model. Inherent in both of these models are assumptions related to expected volatility, remaining life, risk-free rate and expected dividend yield. For the Monte Carlo model, we estimate the probability and timing of potential future financing and fundamental transactions as applicable. Embedded Conversion Feature of MHR Notes. Convertible Notes . December 31, December 31, Closing stock price $ 0.68 $ 0.28 Conversion price $ 1.25 $ 1.25 Expected volatility 143 % 140 % Remaining term (years) 6.25 7.25 Risk-free rate 1.95 % 1.97 % Expected dividend yield 0 % 0 % The fair value of the embedded conversion feature of the Convertible Notes increased $5.7 million, $8.9 million and $10.1 million for the years ended December 31, 2015, 2014 and 2013, respectively, which amounts have been recognized in the accompanying statements of operations. Reimbursement Notes . December 31, December 31, Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 143 % 140 % Remaining term (years) 6.25 7.25 Risk-free rate 1.95 % 1.97 % Expected dividend yield 0 % 0 % The fair value of the embedded conversion of the Reimbursement Notes increased $0.3 million and $0.7 million for the years ended December 31, 2015 and 2014, respectively, and decreased $0.1 million from its inception date of May 7, 2013 through December 31, 2013, which has been recognized in the accompanying statements of operations. Bridge Notes . December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 143 % 140 % Remaining term (years) 6.25 7.25 Risk-free rate 1.95 % 1.97 % Expected dividend yield 0 % 0 % The fair value of the embedded conversion feature of the Bridge Notes increased $0.8 million and $0.7 million for the years ended December 31, 2015 and 2014, respectively, and decreased $0.1 million from its inception date of May 7, 2013 through December 31, 2013, which has been recognized in the accompanying statements of operations. Amended and Restated June 2010 Warrants. December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 136 % 160 % Remaining term (years) 3.52 4.52 Risk-free rate 1.42 % 1.51 % Expected dividend yield 0 % 0 % The fair value of the Amended and Restated June 2010 MHR Warrants increased $0.3 million, $32 thousand and $0.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. These fluctuations have been recognized in the accompanying statements of operations. Amended and Restated Warrants. December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 141 % 161 % Remaining term (years) 3.52 4.52 Risk-free rate 1.31 % 1.65 % Expected dividend yield 0 % 0 % The fair value of the Original Warrants increased $3.8 million, $1.0 million and $0.6 million for the years ended December 31, 2015, 2014 and 2013, respectively. August 2010 Investor Warrants . December 31, 2014 Closing stock price $ 0.28 Conversion price $ 1.26 Expected volatility 116 % Remaining term (years) 0.65 Risk-free rate 0.12 % Expected dividend yield 0 % The fair value of the August 2010 Investor Warrants decreased $29 thousand for the period January 1, 2015 through their expiration on August 26, 2015 and decreased by $0.1 million in each of the years ended December 31, 2014 and 2013 which has been recognized in the accompanying statements of operations. July 2011 Investor Warrants. December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 1.09 $ 1.09 Expected volatility 88 % 122 % Remaining term (years) 0.51 1.51 Risk-free rate 0.49 % 0.67 % Expected dividend yield 0 % 0 % The fair value of the July 2011 Investor Warrants decreased $5 thousand and $0.2 million for the years ended December 31, 2015 and 2014, respectively, and increased $28 thousand for the year ended December 31, 2013, which has been recognized in the accompanying statements of operations. 2013 Restructuring Warrants . December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 141 % 161 % Remaining term (years) 3.52 4.52 Risk-free rate 1.31 % 1.65 % Expected dividend yield 0 % 0 % The fair value of the 2013 Restructuring Warrants increased $3.3 million and $0.9 million for the years ended December 31, 2015 and 2014, respectively, and decreased by $0.5 million from its inception date of May 7, 2013, through December 31, 2013, which has been recognized in the accompanying statements of operations.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes The components of our income tax benefit in 2015 and 2014 are as follows: 2015 2014 Current Tax Benefit Federal $ — $ — State (585 ) (2,019 ) (585 ) (2,019 ) Deferred Tax Expense (Benefit) Federal — — State — — — — Total Tax Benefit $ (585 ) $ (2,019 ) As of December 31, 2015, we have available unused federal net operating loss (NOL) carry-forwards of $357 million, which will expire in various years from 2018 to 2035. We have New York NOL carry-forwards of $294 with the remainder expiring in various years from 2018 through 2035. We have New Jersey NOL carry-forwards of $3.1 million, which will expire in various years from 2023 through 2035. As of December 31, 2015, we have Research and Development tax credit carryforwards of $11 million which will expire in various years from 2018 to 2032. The effective rate differs from the statutory rate of 34% for 2015, 2014 and 2013 primarily due to the following: 2015 2014 2013 Statutory Rate on pre-tax book loss (34.00 %) (34.00 %) (34.00 %) Stock option issuance 0.14 % 0.09 % 0.08 % Sale of NJ NOL’s 1.05 % 2.51 % 0.00 % Disallowed interest 0.10 % 0.51 % 3.57 % Derivatives 11.72 % 14.75 % 13.71 % Expired net operating losses and credits 0.00 % 2.74 % 41.83 % Utilization of net operating loss 0.00 % 0.00 % (2.86 %) State Tax benefit of Sale of NJ NOL (1.45 %) (7.37 %) 0.00 % State Tax benefit — other (3.85 %) (2.82 %) 6.21 % True-ups and adjustments (0.57 %) 0.02 % 0.44 % Change in federal valuation allowance 25.42 % 16.22 % (28.85 %) (-1.44 %) (7.35 %) 0.13 % The tax effect of temporary differences, net operating loss carry-forwards, and research and experimental tax credit carryforwards as of December 31, 2015 and 2014 is as follows: Deferred tax assets and valuation allowance: December 31, 2015 2014 (in thousands) Current deferred tax asset: Accrued liabilities $ 111 $ 23 Valuation allowance (111 ) (23 ) Net current deferred tax asset — — Non-current deferred tax assets: Fixed and intangible assets 11 9 Net operation loss carry-forwards 122,205 121,180 AMT credit carry-forwards 74 74 Capital loss and charitable carry-forwards 13 9 Research and experimental tax credits 11,021 11,021 Stock compensation 586 486 Deferred revenue 22,213 16,621 Interest 6,870 3,414 Valuation allowance $ (162,993 ) $ (152,814 ) Net non-current deferred tax asset — — Future ownership changes may limit the future utilization of these net operating loss and research and development tax credit carry-forwards as defined by the Internal Revenue Code. We performed an in-depth analysis and determined that the net operating losses and research and development expenses are not limited under Section 382. The net deferred tax asset has been fully offset by a valuation allowance due to our history of taxable losses and uncertainty regarding our ability to generate sufficient taxable income in the future to utilize these deferred tax assets. We apply the provisions of ASC 740-10-25 which provides recognition criteria and a related measurement model for uncertain tax positions taken or expected to be taken in income tax returns. ASC 740-10-25 requires that a position taken or expected to be taken in a tax return be recognized in the financial statements when it is more likely than not that the position would be sustained upon examination by tax authorities. Tax positions that meet the more likely than not threshold are then measured using a probability weighted approach recognizing the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company had no tax positions relating to open income tax returns that were considered to be uncertain. Accordingly, we have not recorded a liability for unrecognized tax benefits upon adoption of ASC 740-10-25. There continues to be no liability related to unrecognized tax benefits at December 31, 2015. The Company’s 2012, 2013 and 2014 Federal, New York and New Jersey tax returns remain subject to examination by the respective taxing authorities. In addition, net operating losses and research tax credits arising from prior years are also subject to examination at the time that they are utilized in future years. Neither the Company’s federal or state tax returns are currently under examination.

Stockholders' Deficit

Stockholders' Deficit	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholders' Deficit	10. Stockholders’ Deficit Our certificate of incorporation provides for the issuance of 4,000,000 shares of preferred stock with the rights, preferences, qualifications, and terms to be determined by our Board of Directors. As of December 31, 2015 and 2014, there were no shares of preferred stock outstanding. We have a stockholder rights plan in which Preferred Stock Purchase Rights (the “Rights”) have been granted at the rate of one one-hundredth of a share of Series A Junior Participating Cumulative Preferred Stock (“Series A Preferred Stock”) at an exercise price of $80 for each share of our common stock. The Rights expire on April 7, 2016. The Rights are not exercisable, or transferable apart from the common stock, until the earlier of (i) ten days following a public announcement that a person or group of affiliated or associated persons have acquired beneficial ownership of 20% or more of our outstanding common stock or (ii) ten business days (or such later date, as defined) following the commencement of, or announcement of an intention to make a tender offer or exchange offer, the consummation of which would result in the beneficial ownership by a person, or group, of 20% or more of our outstanding common stock. MHR is specifically excluded from the provisions of the plan. Furthermore, if we enter into consolidation, merger, or other business combinations, as defined, each Right would entitle the holder upon exercise to receive, in lieu of shares of Series A Preferred Stock, a number of shares of common stock of the acquiring company having a value of two times the exercise price of the Right, as defined. The Rights contain anti-dilutive provisions and are redeemable at our option, subject to certain defined restrictions for $.01 per Right. As a result of the Rights dividend, the Board of Directors designated 200,000 shares of preferred stock as Series A Preferred Stock and on June 5, 2012, the Company filed a Certificate of Increase of Series A Preferred Stock, increasing the number of shares of the Company’s Series A Preferred Stock from 200,000 to 1,000,000. Holders of Series A Preferred Stock will be entitled to a preferential cumulative quarterly dividend of the greater of $1.00 per share or 100 times the per share dividend declared on our common stock. Shares of Series A Preferred Stock have a liquidation preference, as defined, and each share will have 100 votes and will vote together with the common shares. On June 5, 2014, the Company filed with the Secretary of the State of Delaware a Certificate of Amendment (the “Certificate of Amendment”) to its Amended and Restated Certificate of Incorporation, increasing the number of authorized shares of common stock from 200,000,000 to 400,000,000 shares and increasing the number of authorized shares of preferred stock from 2,000,000 to 4,000,000 shares.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Plans	11. Stock-Based Compensation Plans Total compensation expense recorded during the years ended December 31, 2015, 2014 and 2013 for share-based payment awards was $0.4 million, $0.2 million and $0.2 million, respectively. At December 31, 2015, total unrecognized estimated compensation expense related to non-vested stock options granted prior to that date was approximately $0.5 million, which is expected to be recognized over a weighted-average period of 2.12 years. No tax benefit was realized due to a continued pattern of operating losses. We have a policy of issuing new shares to satisfy share option exercises. No options were exercised during the years ended December 31, 2015 and 2014. During the year ended December 31, 2015, the Company granted 1,785,000 options which included: 40,000 options to Michael Garone, Chief Financial Officer (valued on the grant date of January 14, 2015 at $0.34 using the Black Scholes pricing model); 175,000 options to Timothy Rothwell, Chairman of the Board, 75,000 options to each of the Company’s outside directors, 300,000 options to Alan L. Rubino, President and Chief Executive Officer, 150,000 options to Carl Sailer, Vice President, Sales and Marketing, and an additional 40,000 options to Michael Garone, Chief Financial Officer (valued on the grant date of March 3, 2015 at $0.55 using the Black Scholes pricing model); 250,000 options to non-executive employees and consultants (valued on the grant date of March 6, 2015 at $0.59 using the Black Scholes pricing model); an additional 40,000 options to each of the Company’s outside directors (valued on the grant date of May 20, 2015, at $0.50); an additional 175,000 options to Timothy Rothwell, Chairman of the Board, (valued on the grant date of September 14, 2015 at $0.60 using the Black Scholes pricing model); and an additional 40,000 options to Carl Sailer, Vice President, Sales and Marketing, (valued on the grant date of October 15, 2015 at $0.59 using the Black Scholes pricing model). Using the Black-Scholes model, we have estimated our stock price volatility using the historical volatility in the market price of our common stock for the expected term of the option. The risk-free interest rate is based on the yield curve of U.S. Treasury STRIP securities for the expected term of the option. We have never paid cash dividends and do not intend to pay cash dividends in the foreseeable future. Accordingly, we assumed a 0% dividend yield. The forfeiture rate is estimated using historical option cancellation information, adjusted for anticipated changes in expected exercise and employment termination behavior. Forfeiture rates and the expected term of options are estimated separately for groups of employees that have similar historical exercise behavior. The ranges presented below are the result of certain groups of employees displaying different behavior. The following weighted-average assumptions were used for grants made under the stock option plans for the years ended December 31, 2015, 2014 and 2013: 2015 Directors Executives Employees Expected volatility 147.57-148.95 % 145.87-148.05 % 148.06 % Expected term 6.8 years 6.8 years 6.8 years Risk-free interest rate 1.83-1.93 % 1.58-1.90 % 1.99 % Dividend yield 0 % 0 % 0 % Annual forfeiture rate 14.5 % 14.5 % 14.5 % 2014 Directors Executives Employees Expected volatility 143.09-145.11 % 142.69 % 145.03 % Expected term 6.8 years 6.8 years 6.8 years Risk-free interest rate 1.97-2.20 % 2.22 % 1.75 % Dividend yield 0 % 0 % 0 % Annual forfeiture rate 14.5 % 14.5 % 14.5 % 2013 Directors Executives Employees Expected volatility 138.29-141.54 % 134.9 % 134.9-141.98 % Expected term 6.8 years 6.8 years 6.8 years Risk-free interest rate 1.45-2.24 % 1.21 % 1.21-2.03 % Dividend yield 0 % 0 % 0 % Annual forfeiture rate 14.5 % 14.5 % 14.5 % Stock Option Plans. The Company also has grants outstanding under its expired and terminated 2000 Stock Option Plan (the “2000 Plan”). Under our 2000 Plan a maximum of 1,945,236 shares of our common stock were available for issuance. The 2000 Plan was available to employees, directors and consultants. The 2000 Plan provides for the grant of either ISOs, as defined by the Internal Revenue Code, or non-qualified stock options, which do not qualify as ISOs. Generally, the options vest at the rate of 20% per year and expire within a five- to ten-year period, as determined by the compensation committee of the Board of Directors and as defined by the Plans. As of December 31, 2015, 55,600 options remained outstanding under the 2000 Plan. Transactions involving stock options awarded under the Plans described above during the years ended December 31, 2015, 2014 and 2013 are summarized as follows: Number of Weighted Weighted Aggregate (In thousands) Outstanding at December 31, 2012 4,150,410 $ 1.07 8.4 $ 1,076 Granted 505,000 $ 0.20 Expired (88,000 ) $ 3.03 Forfeited (226,660 ) $ 1.61 Outstanding at December 31, 2013 4,340,750 $ 0.90 7.8 $ 56 Granted 495,000 $ 0.31 Expired (2,000 ) $ 5.20 Forfeited (13,000 ) $ 0.67 Outstanding at December 31, 2014 4,820,750 $ 0.84 7.1 $ 223 Granted 1,785,000 $ 0.57 Expired (58,500 ) $ 4.81 Outstanding at December 31, 2015 6,547,250 $ 0.73 7.0 $ 969 Vested and exercisable at December 31, 2015 4,197,244 $ 0.79 6.2 $ 874 Vested and expected to vest at December 31, 2015 6,211,254 $ 0.74 7.0 $ 959 The weighted-average grant date fair value of options granted during the years ended December 31, 2015, 2014 and 2013 and was $0.54, $0.29 and $0.19, respectively. Outside Directors’ Plan. Transactions involving stock options awarded under the Directors Stock Plan during the years ended December 31, 2015, 2014 and 2013 are summarized as follows: Number of Weighted Weighted Aggregate (In thousands) Outstanding at December 31, 2012 42,000 $ 5.93 1.9 Expired (21,000 ) $ 2.89 Outstanding at December 31, 2013 21,000 $ 8.97 2.7 Outstanding at December 31, 2014 21,000 $ 8.97 1.4 Outstanding at December 31, 2015 21,000 $ 8.97 0.4 Vested and Exercisable at December 31, 2015 21,000 $ 8.97 0.4 $ — Non-Plan Options. Transactions involving awards of Non-Plan Options during the years ended December 31, 2015, 2014 and 2013 are summarized as follows: Number of Weighted Weighted Aggregate (In thousands) Outstanding at December 31, 2012 5,000 $ 3.15 0.5 Expired (5,000 ) 3.15 Outstanding at December 31, 2013 — $ — — Outstanding at December 31, 2014 — $ — — Outstanding at December 31, 2015 — $ — — Vested and Exercisable at December 31, 2015 — $ — — $ —

Collaborative Research Agreemen

Collaborative Research Agreements	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborative Research Agreements	12. Collaborative Research Agreements We are a party to collaborative agreements with corporate partners to provide development and commercialization services relating to the collaborative products. These agreements are in the form of research and development collaboration and licensing agreements. In connection with these agreements, we have granted licenses or the rights to obtain licenses to our oral drug delivery technology. In return, we are entitled to receive certain payments upon the achievement of milestones and will receive royalties on sales of products should they be commercialized. Under these agreements, we are entitled to also be reimbursed for research and development costs. We also have the right to manufacture and supply delivery agents developed under these agreements to our corporate partners. We also perform research and development for others pursuant to feasibility agreements, which are of short duration and are designed to evaluate the applicability of our drug delivery agents to specific drugs. Under the feasibility agreements, we are generally reimbursed for the cost of work performed. All of our collaborative agreements are subject to termination by our corporate partners without significant financial penalty to them. Milestone and upfront payments received in connection with these agreements was $14.0 million, $0.0 million, and $10.0 million in the years ended December 31, 2015, 2014 and, 2013, respectively. There were no expenses incurred in connection with these agreements in the years ended December 31, 2015, 2014 and 2013. Significant agreements are described below. Novo Nordisk Agreements GLP-1 License Agreement On June 21, 2008, we entered into an exclusive Development and License Agreement with Novo Nordisk pursuant to which Novo Nordisk will develop and commercialize oral formulations of Novo Nordisk proprietary products in combination with Emisphere carriers (the “GLP-1 License Agreement”). Emisphere received approximately $32.6 million as of December 31, 2015, and could receive up to an additional $60 million in contingent product development and sales milestone payments under the terms of the GLP-1 License Agreement. Emisphere would also be entitled to receive royalties on sales in the event Novo Nordisk commercializes products developed under such agreement. Under the terms of the GLP-1 License Agreement, Novo Nordisk is responsible for the development and commercialization of the products. Initially Novo Nordisk is focusing on the development of oral formulations of its proprietary GLP-1 receptor agonists. In January 2010, Novo Nordisk had its first Phase I clinical trial with a long acting oral GLP-1 receptor agonist. This milestone released a $2 million payment to Emisphere. The GLP-1 License Agreement includes multiple deliverables including the license grant, several versions of the Company’s Eligen ® Multiple-Element Arrangements ® ® On April 26, 2013, the Company entered into an Amendment No. 2 (the “Amendment”) to the GLP-1 License Agreement. The Amendment provides, among other things, for a payment of $10 million from Novo Nordisk to the Company as a prepayment for the achievement of certain development milestones that would have otherwise become payable to the Company under the GLP-1 License Agreement in exchange for a reduction in the rate of potential future royalty payments as provided in the GLP-1 License Agreement. The $10 million payment from Novo Nordisk was received by the Company on May 6, 2013, and recorded as deferred revenue. On October 14, 2015, we amended the GLP-1 License Agreement for a third time to provide for, among other things, a payment of $9.0 million to us from Novo Nordisk as prepayment of a product development milestone that would have otherwise become payable to the Company under the GLP-1 License Agreement and in exchange for a reduction in certain future royalty payments. The $9.0 million payment from Novo Nordisk was received October 26, 2015, and recorded as deferred revenue. As of December 31, 2015, total deferred revenue from the GLP-1 License Agreement was $32.6 million, comprised of the $9.0 million prepayment received October 26, 2015, the $10.0 million prepayment received April 26, 2013, the $10.0 million non-refundable license fee, $2 million milestone payment and $1.6 million in support services; compared to total deferred revenue of $23.6 million as of December 31, 2014. Expansion License Agreement On October 14, 2015, we also entered into a new Development and License Agreement with Novo Nordisk (the “Expansion License Agreement”) to develop and commercialize oral formulations of four classes of Novo Nordisk’s investigational molecules targeting major metabolic disorders, including diabetes and obesity, using our oral Eligen ® ® ® As of December 31, 2015, total deferred revenue from the Expansion License Agreement was $5.0 million, comprised of the non-refundable, non-creditable license fee. Insulins License Agreement On December 20, 2010, we entered into an exclusive Development and License Agreement with Novo Nordisk, pursuant to which we granted to Novo Nordisk an exclusive license to develop and commercialize oral formulations of Novo Nordisk’s insulins, using the Company’s proprietary delivery agents (the “Insulins License Agreement”). The Insulins License Agreement includes $57.5 million in potential product development and sales milestone payments including a $5.0 million non- refundable, non-creditable license fee. Emisphere would also be entitled to receive royalties in the event Novo Nordisk commercializes products developed under such the Insulins License Agreement. The Insulins License Agreement includes multiple deliverables including the license grant, several versions of the Company’s Eligen ® Multiple-Element Arrangements ® ® As of December 31, 2015 and 2014, total deferred revenue from the Insulins License Agreement was $5.0 million, comprised of the non-refundable, non-creditable license fee. Novartis Agreements Salmon Calcitonin Agreements We have collaborated with Novartis in connection with the development and testing of oral formulations of salmon calcitonin (“sCT”) to treat osteoarthritis and osteoporosis (the “Salmon Calcitonin Program”). We entered into a Research Collaboration and Option Agreement, dated as of December 3, 1997, as amended on October 20, 2000 (the “Salmon Calcitonin Option Agreement”) with Novartis to develop an oral form of sCT, which is a hormone that inhibits the bone-tissue resorbing activity of specialized bone cells called osteoclasts, enabling the bone to retain more of its mass and functionality. Pursuant to the Salmon Calcitonin Option Agreement, the Company granted Novartis the option to acquire from the Company a license to develop and commercialize oral sCT utilizing Emisphere’s Eligen ® In May 2007, Novartis and Nordic Bioscience notified the Company that they were initiating a Phase III clinical study of SMC021 for the treatment of osteoarthritis (“OA”) using the Company’s Eligen ® On December 14, 2011, the Company announced that Novartis had informed the Company that it will not pursue further clinical development of the investigational drug SMC021 (oral calcitonin) as a treatment option in osteoarthritis and for post-menopausal osteoporosis and that it will not seek regulatory submission for SMC021 in either indication. Novartis advised the Company that its decision to stop the clinical program of SMC021 in both indications was based on analysis and evaluation of data from three Phase III clinical trials (two in osteoarthritis and one in osteoporosis) conducted by Nordic Bioscience showed that SMC021 failed to meet key efficacy endpoints in all three trials, despite displaying a favorable safety profile. Although Novartis has not informed Emisphere of its intention to terminate the Salmon Calcitonin Option Agreement and the Salmon Calcitonin License Agreement, in the likely event that Novartis determines to terminate these agreements, we will reacquire the rights to our technology licensed to Novartis thereunder. Oral PTH-1-34 Agreements We have collaborated with Novartis in connection with the development and testing of oral formulations of PTH-1-34 (“PTH”) to treat osteoarthritis and osteoporosis (the “PTH Program”). On December 1, 2004, we entered into a Research Collaboration Option and License Agreement with Novartis whereby Novartis obtained an option to license our existing technology to develop oral forms of PTH 1-34 (the “PTH Option Agreement”). On March 7, 2006, Novartis exercised its option to the license. PTH is produced by the parathyroid glands to regulate the amount of calcium and phosphorus in the body. Recombinant PTH, currently approved for the treatment of osteoporosis, is available only by injection. When used therapeutically, it increases bone density and bone strength to help prevent fractures. It is approved to treat osteoporosis, a disease associated with a gradual thinning and weakening of the bones that occurs most frequently in women after menopause. Untreated postmenopausal osteoporosis can lead to chronic back pain, disabling fractures, and lost mobility. During April 2010, we announced that Novartis initiated a second Phase I trial for an oral PTH-1-34 which uses Emisphere’s Eligen ® ® Total deferred revenue as of December 31, 2015 and 2014 related to Novartis agreements was $13.0 million.

Defined Contribution Retirement

Defined Contribution Retirement Plan	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Retirement Plan	13. Defined Contribution Retirement Plan We have a defined contribution retirement plan (the “Retirement Plan”), the terms of which, as amended, allow eligible employees who have met certain age and service requirements to participate by electing to contribute a percentage of their compensation to be set aside to pay their future retirement benefits, as defined by the Retirement Plan. We have agreed to make discretionary contributions to the Retirement Plan. For the years ended December 31, 2015, 2014 and 2013, we made contributions to the Retirement Plan totaling approximately $0.04 million, $0.04 million, $0.03 million, respectively.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Net Loss Per Share	14. Net Loss Per Share The following table sets forth the information needed to compute basic and diluted earnings per share for the years ended December 31, 2015, 2014 and 2013: Year Ended December 31, 2015 2014 2013 (In thousands, except per share amounts) Net loss $ (40,381 ) $ (25,380 ) $ (20,939 ) Net loss per common share, basic and diluted: Weighted average common shares outstanding, basic 60,687,478 60,687,478 60,687,478 Net loss per share, basic and diluted $ (0.67 ) $ (0.42 ) $ (0.35 ) The following table sets forth the number of potential shares of common stock that have been excluded from diluted net loss per share because their effect was anti-dilutive: Year Ended December 31, 2015 2014 2013 Options to purchase common shares 6,547,250 4,820,750 4,340,750 Outstanding warrants and options to purchase warrants 25,008,082 27,443,728 27,443,727 Amended and Restated Convertible notes 37,233,561 32,717,484 28,748,424 Amended and Restated Reimbursement notes 1,510,682 1,365,606 1,274,334 Amended and Restated Bridge notes 4,229,826 3,710,158 3,254,246 74,529,401 70,057,726 65,061,481

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Commitments. We lease office space at 4 Becker Farm Road, Roseland, NJ under a non-cancellable operating lease expiring in 2017. As of December 31, 2014, future minimum rental payments are as follows: Years Ending December 31, (In thousands) 2016 148 2017 74 Total $ 222 Rent expense for the years ended December 31, 2015, 2014 and 2013 was $0.1 million, $0.1 million and $0.1 million, respectively. Additional charges under this lease for real estate taxes and common maintenance charges for the years ended December 31, 2015, 2014 and 2013, were $.04 million, $0.04 million and $0.02 million, respectively. The Company evaluates the financial consequences of legal actions periodically or as facts present themselves and records accruals to account for its best estimate of future costs accordingly. Contingencies. As a condition to MHR entering into the Loan Agreement and amending and restating the MHR Notes, the Company and MHR entered into a Royalty Agreement (the “Royalty Agreement”) on August 20, 2014, providing for the payment by the Company to MHR of certain royalties on the terms and conditions set forth therein (see Note 7). Under the terms of the Royalty Agreement, the Company agreed to pay to MHR, subject to the terms and conditions of the Royalty Agreement, royalties in perpetuity (the “Royalties”), commencing as of the date of the Royalty Agreement, in an amount equal to: twenty percent (20%) of all Net Product Sales (as defined in the Royalty Agreement) and any third party payments arising in connection with the sale of the B12 Product and related products, during any fiscal year; provided that, from and after October 1, 2015, if no amount of indebtedness is outstanding under the Loan 13 Table of Contents Agreement (the “Indebtedness Repayment Condition”), such amount shall be reduced to (i) five percent (5%) of all Net Sales and third party payments commencing with the first quarter immediately following the quarter in which the Indebtedness Repayment Condition is satisfied, or (ii) two and one half percent (2.5%) of all Net Sales commencing with the quarter immediately following the quarter in which the Indebtedness Repayment Condition is satisfied, but only with respect to the Net Sales made in any country in which there was not a Valid Patent Claim (as defined in the Royalty Agreement) and where generic entry of a competitive product not by the Company or its affiliates that does not infringe a Valid Patent Claim in such country has occurred, in each case as of the last day of such Fiscal Quarter. Once the royalty rate has been reduced to 5%, the rate shall not be reinstated to 20% even if amounts become outstanding under the Loan Agreement as a result of Paid-In-Kind Royalties. Payments of Royalties shall be made in cash to the extent such Royalties do not cause the Company’s cash as of the end of any year to be less than the Minimum Cash Balance, and otherwise shall be paid as Paid-In-Kind Royalties. In the normal course of business, we may be confronted with issues or events that may result in a contingent liability. These generally relate to lawsuits, claims, environmental actions or the action of various regulatory agencies. If necessary, management consults with counsel and other appropriate experts to assess any matters that arise. If, in our opinion, we have incurred a probable loss as set forth by accounting principles generally accepted in the U.S., an estimate is made of the loss and the appropriate accounting entries are reflected in our financial statements.

Summarized Quarterly Financial

Summarized Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summarized Quarterly Financial Data (Unaudited)	16. Summarized Quarterly Financial Data (Unaudited) Following are summarized quarterly financial data (unaudited) for the years ended December 31, 2015 and 2014: 2015 March 31 June 30 September 30 December 31 (In thousands) Net revenue $ 6 $ 88 $ 130 $ 187 Gross profit (loss) (19 ) 33 72 (567 ) Operating loss (4,668 ) (4,564 ) (4,668 ) (4,196 ) Net income (loss) (32,968 ) 7,136 (4,422 ) (10,127 ) Net income (loss) per share, basic $ (0.54 ) $ 0.12 $ (0.07 ) $ (0.18 ) Net loss per share, diluted $ (0.54 ) $ (0.04 ) $ (0.07 ) $ (0.18 ) 2014 March 31 June 30 September 30 December 31 (In thousands) Net revenue $ — $ — $ — $ — Operating loss (2,345 ) (1,539 ) (2,120 ) (3,301 ) Net income (loss) (3,358 ) (8,069 ) (14,373 ) 420 Net income (loss) per share, basic $ (0.06 ) $ (0.13 ) $ (0.24 ) $ 0.01 Net income (loss) per share, diluted $ (0.06 ) $ (0.13 ) $ (0.24 ) $ 0.01

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value	17. Fair Value In accordance with FASB ASC 820, Fair Value Measurements and Disclosures December 31, 2015 Level 2 Level 3 Total (in thousands) (in thousands) (in thousands) Derivative instruments $ 12,343 $ 35,623 $ 47,966 December 31, 2014: Level 2 Level 3 Total (in thousands) (in thousands) (in thousands) Derivative instruments $ 5,506 $ 24,414 $ 29,920 Level 3 financial instruments consist of common stock warrants and embedded conversion features. The fair value of these warrants and embedded conversion features that have exercise reset features are estimated using a Monte Carlo valuation model. The unobservable input used by the Company was the estimation of the likelihood of a reset occurring on the embedded conversion feature of the Convertible Notes, the embedded conversion feature of the Reimbursement Notes, the embedded conversion feature of the Bridge Notes, and the embedded feature of Amended and Restated June 2010 Warrants. These estimates of the likelihood of completing an equity raise that would meet the criteria to trigger the reset provisions are based on numerous factors, including the remaining term of the financial statements and the Company’s overall financial condition. The following table summarizes the changes in fair value of the Company’s Level 3 financial instruments for the years ended December 31, 2015 and 2014: Year Ended December 31, 2015 2014 Beginning Balance $ 24,414 $ 11,587 Derivative liability of embedded conversion feature of the Bridge Notes 312 221 Derivative liability of embedded conversion feature of the Reimbursement Notes 105 47 Derivative liability of embedded conversion feature of the Convertible Notes 3,648 2,272 Change in fair value 7,144 10,287 Ending Balance $ 35,623 $ 24,414 Changes in the unobservable input values would likely cause material changes in the fair value of the Company’s Level 3 financial instruments. The significant unobservable input used in the fair value measurement is the estimation of the likelihood of the occurrence of a change to the contractual terms of the financial instruments. A significant increase (decrease) in this likelihood would result in a higher (lower) fair value measurement.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates.
Reclassification	Reclassification
Concentration of Credit Risk	Concentration of Credit Risk.
Cash, Cash Equivalents, and Investments	Cash, Cash Equivalents, and Investments.
Trade Accounts Receivable and Allowance for Doubtful Accounts	Trade Accounts Receivable and Allowance for Doubtful Accounts.
Inventory	Inventory.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets.
Equipment and Leasehold Improvements	Equipment and Leasehold Improvements.
Deferred Lease Liability	Deferred Lease Liability.
Revenue Recognition	Revenue Recognition. Revenue Recognition. Oral Eligen B12™ Rx Product We sell our Oral Eligen B12™ Rx product through drug wholesalers and retail pharmacies. We recognize revenue from prescription product sales, net of sales discounts, chargebacks, and rebates. We accept returns of unsalable product from customers within a return period of six months prior to and 12 months following product expiration. Our Oral Eligen B12™ Rx product currently has a shelf life of 24 months from the date of manufacture. Given the limited history of our Oral Eligen B12™ Rx product, we currently cannot reliably estimate expected returns of the prescription products at the time of shipment. Accordingly, we will defer recognition of revenue on prescription products until the right of return no longer exists, which occurs at the earlier of the time the Oral Eligen B12™ Rx product is dispensed through patient prescriptions or expiration of the right of return. Collaborative Agreements and Feasibility Studies Revenue earned from collaborative agreements and feasibility studies is comprised of reimbursed research and development costs, as well as upfront and research and development milestone payments. Deferred revenue represents payments received which are related to future performance. Revenue from feasibility studies, which are typically short term in nature, is recognized upon delivery of the study, provided that all other revenue recognition criteria are met. Revenue from collaboration agreements are recognized using the proportional performance method provided that we can reasonably estimate the level of effort required to complete our performance obligations under an arrangement and such performance obligations are provided on a best effort basis and based on “expected payments.” Under the proportional performance method, periodic revenue related to nonrefundable cash payments is recognized as the percentage of actual effort expended to date as of that period to the total effort expected for all of our performance obligations under the arrangement. Actual effort is generally determined based upon actual hours incurred and include research and development (“R&D”) activities performed by us and time spent for Joint Steering Committee (“JSC”) activities. Total expected effort is generally based upon the total R&D and JSC hours incorporated into the project plan that is agreed to by both parties to the collaboration. Significant management judgments and estimates are required in determining the level of effort required under an arrangement and the period over which we expect to complete the related performance obligations. Estimates of the total expected effort included in each project plan are based on historical experience of similar efforts and expectations based on the knowledge of scientists for both the Company and its collaboration partners. The Company periodically reviews and updates the project plan for each collaborative agreement. The most recent reviews took place in January 2015. In the event that a change in estimate occurs, the change will be accounted for using the cumulative catch-up method which provides for an adjustment to revenue in the current period. Estimates of our level of effort may change in the future, resulting in a material change in the amount of revenue recognized in future periods. Generally under collaboration arrangements, nonrefundable payments received during the period of performance may include time- or performance-based milestones. The proportion of actual performance to total expected performance is applied to the “expected payments” in determining periodic revenue. However, revenue is limited to the sum of (i) the amount of nonrefundable cash payments received and (ii) the payments that are contractually due but have not yet been paid. With regard to revenue recognition in connection with development and license agreements that include multiple deliverables, Emisphere’s management reviews the relevant terms of the agreements and determines whether such deliverables should be accounted for as a single unit of accounting in accordance with FASB ASC 605-25, Multiple-Element Arrangements ® ®
Research and Development and Clinical Trial Expenses	Research and Development and Clinical Trial Expenses. Clinical research expenses represent obligations resulting from our contracts with various research organizations in connection with conducting clinical trials for our product candidates. We account for those expenses on an accrual basis according to the progress of the trial as measured by patient enrollment and the timing of the various aspects of the trial. Accruals are recorded in accordance with the following methodology: (i) the costs for period expenses, such as investigator meetings and initial start-up costs, are expensed as incurred based on management’s estimates, which are impacted by any change in the number of sites, number of patients and patient start dates; (ii) direct service costs, which are primarily ongoing monitoring costs, are recognized on a straight-line basis over the life of the contract; and (iii) principal investigator expenses that are directly associated with recruitment are recognized based on actual patient recruitment. All changes to the contract amounts due to change orders are analyzed and recognized in accordance with the above methodology. Change orders are triggered by changes in the scope, time to completion and the number of sites. During the course of a trial, we adjust our rate of clinical expense recognition if actual results differ from our estimates.
Income Taxes	Income Taxes.
Stock-Based Employee Compensation	Stock-Based Employee Compensation.
Advertising Expenses	Advertising Expenses.
Fair Value of Financial Instruments	Fair Value of Financial Instruments.
Derivative Instruments	Derivative Instruments.
Fair Value Measurements	Fair Value Measurements. • Level 1 — Quoted prices in active markets for identical assets or liabilities • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or corroborated by observable market data for substantially the full term of the assets or liabilities • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the value of the assets or liabilities
New Accounting Pronouncements	New Accounting Pronouncements During May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The new guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In July 2015, the FASB voted to delay the effective date of ASU 2014-09 by one year to the first quarter of 2018 to provide companies sufficient time to implement the standards. Early Adoption will be permitted, but not before the first quarter of 2017. Adoption can occur using one of two prescribed transition methods. The Company is currently evaluating the impact of the new standard. During April 2015, the FASB issued ASU 2015-03, “Interest — Imputation of Interest” (“ASU 2015-03”), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 is effective for annual and interim periods beginning on or after December 15, 2015. The adoption of ASU 2015-03 is not expected to have a material impact on our financial position, results of operations or cash flows. During July 2015, the FASB issued ASU No. 2015-11, “Simplifying the Measurement of Inventory” (“ASU 2015-11”). ASU 2015-11 requires that inventory within the scope of the guidance be measured at the lower of cost and net realizable value. Inventory measured using last-in, first-out (LIFO) and retail inventory method (RIM) are excluded from this new guidance. This ASU replaces the concept of market with the single measurement of net realizable value and is intended to create efficiencies for preparers and more closely aligns U.S. GAAP with IFRS. This ASU is effective for public business entities in fiscal years beginning after December 15, 2016, including interim periods within those years. Prospective application is required and early adoption is permitted as of the beginning of an interim or annual reporting period. The adoption of ASU 2015-11 is not expected to have a material impact on our financial position, results of operations or cash flows. During August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which provides guidance on management’s responsibility in evaluating whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. The adoption of ASU 2014-15 is not expected to have a material impact on our financial position, results of operations or cash flows. During January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments — Overall: Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). The standard addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is not permitted with the exception of certain provisions related to the presentation of other comprehensive income. The adoption of ASU 2016-01 is not expected to have a material impact on our financial position, results of operations or cash flows. During February 2016, the FASB issued ASU No. 2016-02, “Leases” (“ASU 2016-02”). The standard requires lessees to recognize a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months on its balance sheet. The update also expands the required quantitative and qualitative disclosures surrounding leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of the new standard.

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Changes in Inventory	Inventory consists of the following: December 31, 2015 2014 (In thousands) Raw Materials $ 558 $ 1,350 Work-in-process — 718 Finished Goods 782 — Total $ 1,340 $ 2,068

Prepaid Expenses and Other Cu26

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Components of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following: December 31, 2015 2014 (In thousands) Prepaid corporate insurance $ 93 $ 53 Deposit on inventory 184 — Prepaid expenses and other current assets 804 135 $ 1,081 $ 188

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Summary of Equipment and Leasehold Improvements	Equipment and leasehold improvements, net, consists of the following: December 31, Useful Lives In Years 2015 2014 (In thousands) Equipment 3-7 $ 601 $ 601 Leasehold improvements Term of lease 27 27 628 628 Less, accumulated depreciation and amortization 616 603 $ 12 $ 25

Accounts Payable and Accrued 28

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Summary of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consist of the following: December 31, 2015 2014 (In thousands) Accounts payable $ 1,762 $ 530 Accrued legal, professional fees and other 304 1,262 Accrued vacation 55 54 $ 2,121 $ 1,846

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Summary of Notes Payable	Notes payable, net of related discounts, consists of the following: December 31, 2015 2014 (in thousands) Convertible Notes $ 37,450 $ 35,332 Loan Agreement 22,801 8,307 Reimbursement Notes 755 636 Bridge Notes 166 271 61,172 44,546 Less: Current portion 7,000 — Non-current Notes payable, net of related discounts $ 54,172 $ 44,546
Carrying Value of MHR Obligations	The carrying value of the MHR Obligations is comprised of the following: December 31, 2015 2014 (in thousands) Amended and Restated Convertible Notes $ 46,542 $ 40,897 Loan Agreement 22,801 8,307 Amended and Restated Reimbursement Notes 755 683 Amended and Restated Bridge Notes 2,115 1,855 Unamortized discounts (11,041 ) (7,196 ) $ 61,172 $ 44,546

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Components of Derivative Instruments	Derivative instruments consist of the following: December 31, 2015 2014 (in thousands) Convertible Notes $ 30,823 $ 21,501 Reimbursement Notes 1,118 705 Bridge Notes 3,130 1,926 Amended and Restated August 2009 Warrants 2,142 930 Amended and Restated June 2010 MHR Warrants 552 282 Amended and Restated August 2010 Warrants 1,507 654 August 2010 Investor Warrants* — 29 Amended and Restated August 2010 MHR Waiver Warrants 560 243 Amended and Restated July 2011 Warrants 1,729 750 July 2011 Investor Warrants 205 210 Amended and Restated July 2011 MHR Waiver Warrants 456 198 May 2013 MHR Modification Warrants 5,744 2,492 $ 47,966 $ 29,920 * These warrants expired August 2015.
Convertible Notes [Member]
Summary of Assumptions Used in Computing Fair Value	The assumptions used in computing the fair values as of December 31, 2015 and 2014, are as follows: December 31, December 31, Closing stock price $ 0.68 $ 0.28 Conversion price $ 1.25 $ 1.25 Expected volatility 143 % 140 % Remaining term (years) 6.25 7.25 Risk-free rate 1.95 % 1.97 % Expected dividend yield 0 % 0 %
Reimbursement Notes [Member]
Summary of Assumptions Used in Computing Fair Value	The assumptions used in computing the fair value as of December 31, 2015 and 2014 are as follows: December 31, December 31, Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 143 % 140 % Remaining term (years) 6.25 7.25 Risk-free rate 1.95 % 1.97 % Expected dividend yield 0 % 0 %
Bridge Notes [Member]
Summary of Assumptions Used in Computing Fair Value	The assumptions used in computing the fair value as of December 31, 2015 and 2014 are as follows: December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 143 % 140 % Remaining term (years) 6.25 7.25 Risk-free rate 1.95 % 1.97 % Expected dividend yield 0 % 0 %
Amended and Restated June 2010 Warrants [Member]
Summary of Assumptions Used in Computing Fair Value	The assumptions used in computing the fair value of the Amended and Restated June 2010 Warrants as of December 31, 2015 and 2014, are as follows: December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 136 % 160 % Remaining term (years) 3.52 4.52 Risk-free rate 1.42 % 1.51 % Expected dividend yield 0 % 0 %
Warrants [Member]
Summary of Assumptions Used in Computing Fair Value	The assumptions used in computing the fair value the Original Warrants as of December 31, 2015 and 2014, are as follows: December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 141 % 161 % Remaining term (years) 3.52 4.52 Risk-free rate 1.31 % 1.65 % Expected dividend yield 0 % 0 %
August 2010 Investor Warrants [Member]
Summary of Assumptions Used in Computing Fair Value	The assumptions used in computing the fair value of the remaining August 2010 Warrants as of December 31, 2014, are as follows: December 31, 2014 Closing stock price $ 0.28 Conversion price $ 1.26 Expected volatility 116 % Remaining term (years) 0.65 Risk-free rate 0.12 % Expected dividend yield 0 %
July 2011 Investor Warrants [Member]
Summary of Assumptions Used in Computing Fair Value	The assumptions used in computing the fair value of the July 2011 Warrants as of December 31, 2015 and 2014, are as follows: December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 1.09 $ 1.09 Expected volatility 88 % 122 % Remaining term (years) 0.51 1.51 Risk-free rate 0.49 % 0.67 % Expected dividend yield 0 % 0 %
2013 Restructuring Warrants [Member]
Summary of Assumptions Used in Computing Fair Value	The assumptions used in computing the fair value of the 2013 Restructuring Warrants as of December 31, 2015 and 2014, are as follows: December 31, 2015 December 31, 2014 Closing stock price $ 0.68 $ 0.28 Conversion price $ 0.50 $ 0.50 Expected volatility 141 % 161 % Remaining term (years) 3.52 4.52 Risk-free rate 1.31 % 1.65 % Expected dividend yield 0 % 0 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Summary of Income Tax Benefit	The components of our income tax benefit in 2015 and 2014 are as follows: 2015 2014 Current Tax Benefit Federal $ — $ — State (585 ) (2,019 ) (585 ) (2,019 ) Deferred Tax Expense (Benefit) Federal — — State — — — — Total Tax Benefit $ (585 ) $ (2,019 )
Schedule of Effective Income Tax Rate Reconciliation	The effective rate differs from the statutory rate of 34% for 2015, 2014 and 2013 primarily due to the following: 2015 2014 2013 Statutory Rate on pre-tax book loss (34.00 %) (34.00 %) (34.00 %) Stock option issuance 0.14 % 0.09 % 0.08 % Sale of NJ NOL’s 1.05 % 2.51 % 0.00 % Disallowed interest 0.10 % 0.51 % 3.57 % Derivatives 11.72 % 14.75 % 13.71 % Expired net operating losses and credits 0.00 % 2.74 % 41.83 % Utilization of net operating loss 0.00 % 0.00 % (2.86 %) State Tax benefit of Sale of NJ NOL (1.45 %) (7.37 %) 0.00 % State Tax benefit — other (3.85 %) (2.82 %) 6.21 % True-ups and adjustments (0.57 %) 0.02 % 0.44 % Change in federal valuation allowance 25.42 % 16.22 % (28.85 %) (-1.44 %) (7.35 %) 0.13 %
Schedule of Deferred Tax Assets and Liabilities	The tax effect of temporary differences, net operating loss carry-forwards, and research and experimental tax credit carryforwards as of December 31, 2015 and 2014 is as follows: Deferred tax assets and valuation allowance: December 31, 2015 2014 (in thousands) Current deferred tax asset: Accrued liabilities $ 111 $ 23 Valuation allowance (111 ) (23 ) Net current deferred tax asset — — Non-current deferred tax assets: Fixed and intangible assets 11 9 Net operation loss carry-forwards 122,205 121,180 AMT credit carry-forwards 74 74 Capital loss and charitable carry-forwards 13 9 Research and experimental tax credits 11,021 11,021 Stock compensation 586 486 Deferred revenue 22,213 16,621 Interest 6,870 3,414 Valuation allowance $ (162,993 ) $ (152,814 ) Net non-current deferred tax asset — —

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Weighted-Average Assumptions Used for Grants Made Under Stock Option Plans	The following weighted-average assumptions were used for grants made under the stock option plans for the years ended December 31, 2015, 2014 and 2013: 2015 Directors Executives Employees Expected volatility 147.57-148.95 % 145.87-148.05 % 148.06 % Expected term 6.8 years 6.8 years 6.8 years Risk-free interest rate 1.83-1.93 % 1.58-1.90 % 1.99 % Dividend yield 0 % 0 % 0 % Annual forfeiture rate 14.5 % 14.5 % 14.5 % 2014 Directors Executives Employees Expected volatility 143.09-145.11 % 142.69 % 145.03 % Expected term 6.8 years 6.8 years 6.8 years Risk-free interest rate 1.97-2.20 % 2.22 % 1.75 % Dividend yield 0 % 0 % 0 % Annual forfeiture rate 14.5 % 14.5 % 14.5 % 2013 Directors Executives Employees Expected volatility 138.29-141.54 % 134.9 % 134.9-141.98 % Expected term 6.8 years 6.8 years 6.8 years Risk-free interest rate 1.45-2.24 % 1.21 % 1.21-2.03 % Dividend yield 0 % 0 % 0 % Annual forfeiture rate 14.5 % 14.5 % 14.5 %
Summary of Transactions Involving Stock Options Awarded	Transactions involving stock options awarded under the Plans described above during the years ended December 31, 2015, 2014 and 2013 are summarized as follows: Number of Weighted Weighted Aggregate (In thousands) Outstanding at December 31, 2012 4,150,410 $ 1.07 8.4 $ 1,076 Granted 505,000 $ 0.20 Expired (88,000 ) $ 3.03 Forfeited (226,660 ) $ 1.61 Outstanding at December 31, 2013 4,340,750 $ 0.90 7.8 $ 56 Granted 495,000 $ 0.31 Expired (2,000 ) $ 5.20 Forfeited (13,000 ) $ 0.67 Outstanding at December 31, 2014 4,820,750 $ 0.84 7.1 $ 223 Granted 1,785,000 $ 0.57 Expired (58,500 ) $ 4.81 Outstanding at December 31, 2015 6,547,250 $ 0.73 7.0 $ 969 Vested and exercisable at December 31, 2015 4,197,244 $ 0.79 6.2 $ 874 Vested and expected to vest at December 31, 2015 6,211,254 $ 0.74 7.0 $ 959
Director Stock Plan [Member]
Summary of Transactions Involving Stock Options Awarded	Transactions involving stock options awarded under the Directors Stock Plan during the years ended December 31, 2015, 2014 and 2013 are summarized as follows: Number of Weighted Weighted Aggregate (In thousands) Outstanding at December 31, 2012 42,000 $ 5.93 1.9 Expired (21,000 ) $ 2.89 Outstanding at December 31, 2013 21,000 $ 8.97 2.7 Outstanding at December 31, 2014 21,000 $ 8.97 1.4 Outstanding at December 31, 2015 21,000 $ 8.97 0.4 Vested and Exercisable at December 31, 2015 21,000 $ 8.97 0.4 $ —
Non-Plan Options [Member]
Summary of Transactions Involving Stock Options Awarded	Transactions involving awards of Non-Plan Options during the years ended December 31, 2015, 2014 and 2013 are summarized as follows: Number of Weighted Weighted Aggregate (In thousands) Outstanding at December 31, 2012 5,000 $ 3.15 0.5 Expired (5,000 ) 3.15 Outstanding at December 31, 2013 — $ — — Outstanding at December 31, 2014 — $ — — Outstanding at December 31, 2015 — $ — — Vested and Exercisable at December 31, 2015 — $ — — $ —

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	The following table sets forth the information needed to compute basic and diluted earnings per share for the years ended December 31, 2015, 2014 and 2013: Year Ended December 31, 2015 2014 2013 (In thousands, except per share amounts) Net loss $ (40,381 ) $ (25,380 ) $ (20,939 ) Net loss per common share, basic and diluted: Weighted average common shares outstanding, basic 60,687,478 60,687,478 60,687,478 Net loss per share, basic and diluted $ (0.67 ) $ (0.42 ) $ (0.35 )
Potential Shares of Common Stock Excluded from Diluted Net Loss Per Share	The following table sets forth the number of potential shares of common stock that have been excluded from diluted net loss per share because their effect was anti-dilutive: Year Ended December 31, 2015 2014 2013 Options to purchase common shares 6,547,250 4,820,750 4,340,750 Outstanding warrants and options to purchase warrants 25,008,082 27,443,728 27,443,727 Amended and Restated Convertible notes 37,233,561 32,717,484 28,748,424 Amended and Restated Reimbursement notes 1,510,682 1,365,606 1,274,334 Amended and Restated Bridge notes 4,229,826 3,710,158 3,254,246 74,529,401 70,057,726 65,061,481

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Rental Payments	As of December 31, 2014, future minimum rental payments are as follows: Years Ending December 31, (In thousands) 2016 148 2017 74 Total $ 222

Summarized Quarterly Financia35

Summarized Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summarized Quarterly Financial Data	Following are summarized quarterly financial data (unaudited) for the years ended December 31, 2015 and 2014: 2015 March 31 June 30 September 30 December 31 (In thousands) Net revenue $ 6 $ 88 $ 130 $ 187 Gross profit (loss) (19 ) 33 72 (567 ) Operating loss (4,668 ) (4,564 ) (4,668 ) (4,196 ) Net income (loss) (32,968 ) 7,136 (4,422 ) (10,127 ) Net income (loss) per share, basic $ (0.54 ) $ 0.12 $ (0.07 ) $ (0.18 ) Net loss per share, diluted $ (0.54 ) $ (0.04 ) $ (0.07 ) $ (0.18 ) 2014 March 31 June 30 September 30 December 31 (In thousands) Net revenue $ — $ — $ — $ — Operating loss (2,345 ) (1,539 ) (2,120 ) (3,301 ) Net income (loss) (3,358 ) (8,069 ) (14,373 ) 420 Net income (loss) per share, basic $ (0.06 ) $ (0.13 ) $ (0.24 ) $ 0.01 Net income (loss) per share, diluted $ (0.06 ) $ (0.13 ) $ (0.24 ) $ 0.01

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	In accordance with FASB ASC 820, Fair Value Measurements and Disclosures December 31, 2015 Level 2 Level 3 Total (in thousands) (in thousands) (in thousands) Derivative instruments $ 12,343 $ 35,623 $ 47,966 December 31, 2014: Level 2 Level 3 Total (in thousands) (in thousands) (in thousands) Derivative instruments $ 5,506 $ 24,414 $ 29,920
Schedule of Changes in Fair Value of Level 3 Financial Instruments	The following table summarizes the changes in fair value of the Company’s Level 3 financial instruments for the years ended December 31, 2015 and 2014: Year Ended December 31, 2015 2014 Beginning Balance $ 24,414 $ 11,587 Derivative liability of embedded conversion feature of the Bridge Notes 377 221 Derivative liability of embedded conversion feature of the Reimbursement Notes 105 47 Derivative liability of embedded conversion feature of the Convertible Notes 3,648 2,272 Change in fair value 7,079 10,287 Ending Balance $ 35,623 $ 24,414

Nature of Operations, Risks a37

Nature of Operations, Risks and Uncertainties and Liquidity - Additional Information (Detail) - USD ($)	Oct. 26, 2015	Oct. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jul. 01, 2015	Apr. 06, 2015	Jan. 06, 2015	Nov. 04, 2014	Aug. 20, 2014	Dec. 31, 2012
Debt Instrument [Line Items]
Accumulated deficit			$ (554,520,000)				$ (514,139,000)				$ (554,520,000)	$ (514,139,000)
Net loss from operation			(4,196,000)	$ (4,668,000)	$ (4,564,000)	$ (4,668,000)	(3,301,000)	$ (2,120,000)	$ (1,539,000)	$ (2,345,000)	(18,096,000)	(9,305,000)	$ (7,604,000)
Net loss			(10,127,000)	$ (4,422,000)	$ 7,136,000	$ (32,968,000)	420,000	$ (14,373,000)	$ (8,069,000)	$ (3,358,000)	(40,381,000)	(25,380,000)	(20,939,000)
Net cash provided (outlays) from operation and capital expenditures											(2,800,000)	(8,400,000)	3,100,000
Net cash provided (outlays) include receipts of deferred revenue											14,600,000	0	10,000,000
Stockholder ' deficit			(151,918,000)				(111,950,000)				(151,918,000)	(111,950,000)	(86,801,000)						$ (66,066,000)
Cash			12,898,000				3,683,000				12,898,000	3,683,000	$ 4,053,000						$ 1,484,000
Company's financial obligations under Reimbursement Notes			$ 61,172,000				44,546,000				$ 61,172,000	44,546,000
Maximum borrowing capacity																		$ 20,000,000
Loan interest rate			13.00%								13.00%
Payment received from Novo Nordisk	$ 14,000,000	$ 14,000,000
Percent of extraordinary receipts used to pre-pay certain loans and notes	50.00%
Loans and notes, current			$ 7,000,000								$ 7,000,000
Maximum [Member]
Debt Instrument [Line Items]
Waiver period on certain loans and notes											1 year
Expansion License Agreement [Member]
Debt Instrument [Line Items]
Payment received from Novo Nordisk	$ 5,000,000
GLP-1 License Agreement [Member]
Debt Instrument [Line Items]
Payment received from Novo Nordisk	$ 9,000,000
Loan Agreement [Member]
Debt Instrument [Line Items]
Company's financial obligations under Loan Agreement			22,800,000								$ 22,800,000
Company's financial obligations under Reimbursement Notes			22,801,000				$ 8,307,000				22,801,000	$ 8,307,000
Maximum borrowing capacity			20,000,000								$ 20,000,000
Maturity date of loans											Dec. 31, 2019
Principal amount			$ 22,800,000								$ 22,800,000			$ 2,000,000	$ 5,000,000	$ 5,000,000	$ 3,000,000	$ 5,000,000
Reimbursement Notes [Member]
Debt Instrument [Line Items]
Maturity date of loans											Mar. 31, 2022
Loan interest rate			10.00%								10.00%
Principal amount			$ 800,000								$ 800,000
Second Amended and Restated [Member]
Debt Instrument [Line Items]
Company's financial obligations under Convertible Notes			46,500,000								46,500,000
Company's financial obligations under Bridge Notes			2,100,000								2,100,000
Second Amended and Restated [Member] | Reimbursement Notes [Member]
Debt Instrument [Line Items]
Company's financial obligations under Reimbursement Notes			$ 800,000								$ 800,000

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Accounting Policies [Line Items]
Cash equivalents maturity description	Three months or less
Investments	$ 0
Allowance for doubtful accounts	9,000	$ 0
Inventory reserve	$ 691,000	0
Shelf life of product	24 months
Advertising expense	$ 700,000	$ 0	$ 0
Carrying value and accrued interest on convertible notes	$ 61,200,000
Minimum [Member]
Schedule Of Accounting Policies [Line Items]
Period of trade accounts receivable considered to be delinquent	90 days
Period of unsalable product returns	6 months
Maximum [Member]
Schedule Of Accounting Policies [Line Items]
Period of unsalable product returns	12 months

Inventory - Schedule of Changes

Inventory - Schedule of Changes in Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw Materials	$ 558	$ 1,350
Work-in-process		718
Finished Goods	782
Total	$ 1,340	$ 2,068

Prepaid Expenses and Other Cu40

Prepaid Expenses and Other Current Assets - Components of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid corporate insurance	$ 93	$ 53
Deposit on inventory	184
Prepaid expenses and other current assets	804	135
Total prepaid expenses and other current assets	$ 1,081	$ 188

Fixed assets - Summary of Equip

Fixed assets - Summary of Equipment and Leasehold Improvements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	$ 628	$ 628
Less: accumulated depreciation and amortization	616	603
Equipment and leasehold improvements, net	12	25
Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	$ 601	601
Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful lives in years	3 years
Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful lives in years	7 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Leasehold improvements, useful lives in years	Term of lease
Equipment and leasehold improvements, gross	$ 27	$ 27

Fixed Assets - Additional Infor

Fixed Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property Plant and Equipment Useful Life and Values [Abstract]
Depreciation expense	$ 14	$ 15	$ 9

Accounts Payable and Accrued 43

Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accounts payable	$ 1,762	$ 530
Accrued legal, professional fees and other	304	1,262
Accrued vacation	55	54
Accounts payable and accrued expenses, total	$ 2,121	$ 1,846

Notes Payable - Summary of Note

Notes Payable - Summary of Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total	$ 61,172	$ 44,546
Less: Current portion	7,000
Non-current Notes payable, net of related discounts	54,172	44,546
Loan Agreement [Member]
Debt Instrument [Line Items]
Non-current Notes payable, net of related discounts	22,801	8,307
Reimbursement Notes [Member]
Debt Instrument [Line Items]
Non-current Notes payable, net of related discounts	755	636
Bridge Notes [Member]
Debt Instrument [Line Items]
Non-current Notes payable, net of related discounts	166	271
Convertible Notes [Member]
Debt Instrument [Line Items]
Non-current Notes payable, net of related discounts	$ 37,450	$ 35,332

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail)

Dec. 31, 2015USD ($)$ / sharesshares

Nov. 26, 2015USD ($)

Oct. 26, 2015USD ($)

Aug. 20, 2014USD ($)Borrowing

Oct. 31, 2015USD ($)

Dec. 31, 2015USD ($)$ / sharesshares

Dec. 31, 2014USD ($)

Jul. 01, 2015USD ($)

Apr. 06, 2015USD ($)

Jan. 06, 2015USD ($)

Nov. 04, 2014USD ($)

Oct. 17, 2012USD ($)

Jun. 08, 2010USD ($)

May. 16, 2006$ / shares

Sep. 26, 2005USD ($)

Class of Warrant or Right [Line Items]

Maximum borrowing capacity

$ 20,000,000

Number of borrowings | Borrowing

5

Minimum cash balance

$ 10,000,000

$ 10,000,000

Minimum cash balance under certain circumstances

15,000,000

15,000,000

Cash balance

12,600,000

12,600,000

Royalties payable under the Royalty Agreement

$ 208,000

$ 208,000

Loan maturity description

Loan will mature on the earlier of (a) December 31, 2019, and, (b) 30 days after the end of any fiscal year in which the Company's cash (plus certain cash expenditures during such fiscal year that are unrelated to the B12 Product or related products) as of the end of such fiscal year (subject to certain permitted deductions) is more than three times the principal amount of the Loan as of the end of such fiscal year.

Interest rate

13.00%

13.00%

Debt instrument interest rate terms

Interest at a rate of 13% per annum (the "Interest Rate"), compounded monthly, and will be payable in kind and in arrears on June 30 and December 31 of each year

Cash sweep as percentage of Consolidated Free Cash Flow

75.00%

Cash sweep as percentage of Consolidated Free Cash Flow upon conditions

75.00%

Cash sweep value

$ 50,000,000

Cash sweep as percentage of cash proceeds

50.00%

Payment received from Novo Nordisk

$ 14,000,000

$ 14,000,000

Debt instrument, description

On August 20, 2014, the Lenders and the Company further amended and restated (i) the Convertible Notes issued by the Company to certain of the Lenders, (ii) the Bridge Notes issued by the Company to certain of the Lenders, and (iii) the Reimbursement Notes (and, together with the Convertible Notes and Bridge Notes, the "MHR Notes").

Net proceeds of secured loan agreement

$ 12,900,000

Conversion price per share | $ / shares

$ 3.78

11% Senior secured convertible notes loan agreement, execution date

May 16, 2006

Restructuring initiation date

Aug. 20, 2014

Minimum percentage of common stock outstanding to provide continuity to Mutual Nominee on Board

2.00%

Convertible Notes [Member]

Class of Warrant or Right [Line Items]

Principal amount

$ 46,500,000

$ 46,500,000

Interest rate

13.00%

13.00%

Cash sweep as percentage of Consolidated Free Cash Flow

50.00%

Cash sweep value

$ 50,000,000

Cash sweep as percentage of cash proceeds

50.00%

Conversion price per share | $ / shares

$ 1.25

$ 1.25

Maturity date

Mar. 31, 2022

Shares of common stock | shares

37,233,561

Royalty Agreement [Member]

Class of Warrant or Right [Line Items]

Royalty agreement date

Aug. 20, 2014

Net sales percentage on royalty agreement

20.00%

20.00%

Net sales percentage on royalty agreement

5.00%

5.00%

Net sales percentage on royalty agreement

2.50%

2.50%

Royalty agreement description

(i) five percent (5%) of all Net Sales and third party payments commencing with the first quarter immediately following the quarter in which the Indebtedness Repayment Condition is satisfied, or (ii) two and one half percent (2.5%) of all Net Sales commencing with the quarter immediately following the quarter in which the Indebtedness Repayment Condition is satisfied, but only with respect to the Net Sales made in any country in which there was not a Valid Patent Claim (as defined in the Royalty Agreement) and where generic entry of a competitive product not by the Company or its affiliates that does not infringe a Valid Patent Claim in such country has occurred, in each case as of the last day of such Fiscal Quarter.

Maximum [Member]

Class of Warrant or Right [Line Items]

Additional borrowings capacity

$ 2,000,000

Period on certain loans and notes

1 year

MHR Promissory Notes [Member]

Class of Warrant or Right [Line Items]

Principal amount

$ 600,000

$ 15,000,000

Interest rate

11.00%

Additional interest rate as an event of default

2.00%

Restructuring initiation date

May 7, 2013

MHR Promissory Notes [Member] | Royalty Agreement [Member]

Class of Warrant or Right [Line Items]

Professional fees

$ 225,000

Loan Agreement [Member]

Class of Warrant or Right [Line Items]

Maximum borrowing capacity

$ 20,000,000

$ 20,000,000

Principal amount

22,800,000

$ 5,000,000

$ 22,800,000

$ 2,000,000

$ 5,000,000

$ 5,000,000

$ 3,000,000

Cash sweep as percentage of Consolidated Free Cash Flow

50.00%

Maturity date

Dec. 31, 2019

Reimbursement Notes [Member]

Class of Warrant or Right [Line Items]

Principal amount

$ 800,000

$ 800,000

Interest rate

10.00%

10.00%

Debt instrument interest rate terms

Interest at the rate of 10% per annum, compounded monthly, which interest is payable in the form of additional Reimbursement Notes.

Cash sweep as percentage of Consolidated Free Cash Flow

50.00%

Prepayment of notes and loans

$ 800,000

Notes and loans payable

$ 800,000

$ 800,000

Conversion price per share | $ / shares

$ 0.50

$ 0.50

Restructuring initiation date

Aug. 20, 2014

Maturity date

Mar. 31, 2022

Shares of common stock | shares

1,510,682

Bridge Notes [Member]

Class of Warrant or Right [Line Items]

Principal amount

$ 2,100,000

$ 2,100,000

$ 1,400,000

Interest rate

13.00%

13.00%

Debt instrument interest rate terms

Interest at 13% per year, compounded monthly and payable in the form of additional Bridge Notes.

Cash sweep as percentage of Consolidated Free Cash Flow

50.00%

Maturity date

Mar. 31, 2022

Shares of common stock | shares

4,229,826

Convertible Notes default description

The Bridge Notes were amended and restated on May 7, 2013 and restated again on August 20, 2014.

Debt instrument convertible amended conversion price | $ / shares

$ 0.50

Loans Payable [Member]

Class of Warrant or Right [Line Items]

Prepayment of notes and loans

$ 6,200,000

Notes and loans payable

$ 6,200,000

$ 6,200,000

Notes Payable - Carrying Value

Notes Payable - Carrying Value of MHR Obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Unamortized discounts	$ (11,041)	$ (7,196)
Notes payable, total	61,172	44,546
Amended and Restated Convertible Notes [Member]
Debt Instrument [Line Items]
Notes payable, total	46,542	40,897
Loan Agreement [Member]
Debt Instrument [Line Items]
Notes payable, total	22,801	8,307
Amended and Restated Reimbursement Notes [Member]
Debt Instrument [Line Items]
Notes payable, total	755	683
Amended and Restated Bridge Notes [Member]
Debt Instrument [Line Items]
Notes payable, total	$ 2,115	$ 1,855

Derivative Instruments - Compon

Derivative Instruments - Components of Derivative Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative instruments	$ 47,966	$ 29,920
Convertible Notes [Member]
Derivative [Line Items]
Derivative instruments	30,823	21,501
Reimbursement Notes [Member]
Derivative [Line Items]
Derivative instruments	1,118	705
Bridge Notes [Member]
Derivative [Line Items]
Derivative instruments	3,130	1,926
Amended and Restated August 2009 Warrants [Member]
Derivative [Line Items]
Derivative instruments	2,142	930
Amended and Restated June 2010 MHR Warrants [Member]
Derivative [Line Items]
Derivative instruments	552	282
Amended and Restated August 2010 Warrants [Member]
Derivative [Line Items]
Derivative instruments	1,507	654
August 2010 Investor Warrants [Member]
Derivative [Line Items]
Derivative instruments		29
Amended and Restated August 2010 MHR Waiver Warrants [Member]
Derivative [Line Items]
Derivative instruments	560	243
Amended and Restated July 2011 Warrants [Member]
Derivative [Line Items]
Derivative instruments	1,729	750
July 2011 Investor Warrants [Member]
Derivative [Line Items]
Derivative instruments	205	210
Amended and Restated July 2011 MHR Waiver Warrants [Member]
Derivative [Line Items]
Derivative instruments	456	198
May 2013 MHR Modification Warrants [Member]
Derivative [Line Items]
Derivative instruments	$ 5,744	$ 2,492

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) - USD ($)	8 Months Ended		12 Months Ended
	Aug. 26, 2015	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 12, 2011
Convertible Notes [Member]
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items]
Issuance of common stock			$ 10,000,000
Fair value of embedded conversion feature increased/(decreased)			5,700,000	$ 8,900,000	$ 10,100,000
Reimbursement Notes [Member]
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items]
Fair value of embedded conversion feature increased/(decreased)		$ (100,000)	300,000	700,000
Bridge Notes [Member]
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items]
Fair value of embedded conversion feature increased/(decreased)		(100,000)	800,000	700,000
Amended and Restated June 2010 Warrants [Member]
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items]
Issuance of common stock			10,000,000
Fair value of embedded conversion feature increased/(decreased)			$ 300,000	32,000	200,000
Number of warrants issued			865,000
Reduced exercise price of warrants			$ 0.50
Warrants expiry date			Jul. 8, 2019
Warrants [Member]
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items]
Fair value of embedded conversion feature increased/(decreased)			$ 3,800,000	1,000,000	600,000
August 2010 Investor Warrants [Member]
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items]
Number of warrants issued			2,600,000
Warrants expiry date			Aug. 26, 2015
Number of warrants exercised by unrelated investors						200,000
Fair value of warrants decreased	$ 29,000			100,000	100,000
July 2011 Investor Warrants [Member]
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items]
Warrants expiry date			Jul. 6, 2016
Fair value of warrants decreased			$ 5,000	200,000
Number of warrants sold to MHR			3,010,000
Exercise price of warrants issued			$ 1.09
Fair value of warrants increased					$ 28,000
2013 Restructuring Warrants [Member]
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items]
Fair value of warrants decreased		$ 500,000
Fair value of warrants increased			$ 3,300,000	$ 900,000
Number of warrants sold to MHR			10,000,000

Derivative Instruments - Summar

Derivative Instruments - Summary of Assumptions Used in Computing Fair Value (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Convertible Notes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value assumption stock price	$ 0.68	$ 0.28
Fair value assumption conversion price	$ 1.25	$ 1.25
Expected volatility rate	143.00%	140.00%
Remaining term of expected volatility	6 years 3 months	7 years 3 months
Risk-free interest rate	1.95%	1.97%
Expected dividend yield	0.00%	0.00%
Reimbursement Notes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value assumption stock price	$ 0.68	$ 0.28
Fair value assumption conversion price	$ 0.50	$ 0.50
Expected volatility rate	143.00%	140.00%
Remaining term of expected volatility	6 years 3 months	7 years 3 months
Risk-free interest rate	1.95%	1.97%
Expected dividend yield	0.00%	0.00%
Bridge Notes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value assumption stock price	$ 0.68	$ 0.28
Fair value assumption conversion price	$ 0.50	$ 0.50
Expected volatility rate	143.00%	140.00%
Remaining term of expected volatility	6 years 3 months	7 years 3 months
Risk-free interest rate	1.95%	1.97%
Expected dividend yield	0.00%	0.00%
Amended and Restated June 2010 Warrants [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value assumption stock price	$ 0.68	$ 0.28
Fair value assumption conversion price	$ 0.50	$ 0.50
Expected volatility rate	136.00%	160.00%
Remaining term of expected volatility	3 years 6 months 7 days	4 years 6 months 7 days
Risk-free interest rate	1.42%	1.51%
Expected dividend yield	0.00%	0.00%
Warrants [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value assumption stock price	$ 0.68	$ 0.28
Fair value assumption conversion price	$ 0.50	$ 0.50
Expected volatility rate	141.00%	161.00%
Remaining term of expected volatility	3 years 6 months 7 days	4 years 6 months 7 days
Risk-free interest rate	1.31%	1.65%
Expected dividend yield	0.00%	0.00%
August 2010 Investor Warrants [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value assumption stock price		$ 0.28
Fair value assumption conversion price		$ 1.26
Expected volatility rate		116.00%
Remaining term of expected volatility		7 months 24 days
Risk-free interest rate		0.12%
Expected dividend yield		0.00%
July 2011 Investor Warrants [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value assumption stock price	$ 0.68	$ 0.28
Fair value assumption conversion price	$ 1.09	$ 1.09
Expected volatility rate	88.00%	122.00%
Remaining term of expected volatility	6 months 4 days	1 year 6 months 4 days
Risk-free interest rate	0.49%	0.67%
Expected dividend yield	0.00%	0.00%
2013 Restructuring Warrants [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value assumption stock price	$ 0.68	$ 0.28
Fair value assumption conversion price	$ 0.50	$ 0.50
Expected volatility rate	141.00%	161.00%
Remaining term of expected volatility	3 years 6 months 7 days	4 years 6 months 7 days
Risk-free interest rate	1.31%	1.65%
Expected dividend yield	0.00%	0.00%

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current Tax Benefit
Federal	$ 0	$ 0
State	(585)	(2,019)
Total Current Tax Benefit	(585)	(2,019)
Deferred Tax Expense (Benefit)
Federal	0	0
State	0	0
Total Deferred Tax Expense (Benefit)	0	0
Total Tax Benefit	$ (585)	$ (2,019)	$ 28

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax [Line Items]
Difference of effective income tax rate and Federal statutory rate	34.00%	34.00%	34.00%
Probability of likely to be realized upon settlement	50.00%
Domestic Country [Member]
Income Tax [Line Items]
Operating loss carryforwards	$ 357
NOL carry-forwards starting date	2,018
NOL carry-forwards Ending date	2,035
State and Local Jurisdiction [Member] | New York [Member]
Income Tax [Line Items]
Operating loss carryforwards	$ 294
NOL carry-forwards starting date	2,018
NOL carry-forwards Ending date	2,035
State and Local Jurisdiction [Member] | New Jersey [Member]
Income Tax [Line Items]
Operating loss carryforwards	$ 3.1
NOL carry-forwards starting date	2,023
NOL carry-forwards Ending date	2,035
Research [Member]
Income Tax [Line Items]
NOL carry-forwards starting date	2,018
NOL carry-forwards Ending date	2,032
Research and development tax credit carry-forwards	$ 11
Research and development tax credit carry-forwards expiration description	Expire in various years from 2018 to 2032.

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Statutory Rate on pre-tax book loss	(34.00%)	(34.00%)	(34.00%)
Stock option issuance	0.14%	0.09%	0.08%
Sale of NJ NOL's	1.05%	2.51%	0.00%
Disallowed interest	0.10%	0.51%	3.57%
Derivatives	11.72%	14.75%	13.71%
Expired net operating losses and credits	0.00%	2.74%	41.83%
Utilization of net operating loss	(0.00%)	(0.00%)	(2.86%)
State Tax benefit of Sale of NJ NOL	(1.45%)	(7.37%)	(0.00%)
State Tax benefit - other	(3.85%)	(2.82%)	6.21%
True-ups and adjustments	(0.57%)	0.02%	0.44%
Change in federal valuation allowance	25.42%	16.22%	(28.85%)
Total	(1.44%)	(7.35%)	0.13%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current deferred tax asset:
Accrued liabilities	$ 111	$ 23
Valuation allowance	(111)	(23)
Net current deferred tax asset	0	0
Non-current deferred tax assets:
Fixed and intangible assets	11	9
Net operation loss carry-forwards	122,205	121,180
AMT credit carry-forwards	74	74
Capital loss and charitable carry-forwards	13	9
Research and experimental tax credits	11,021	11,021
Stock compensation	586	486
Deferred revenue	22,213	16,621
Interest	6,870	3,414
Valuation allowance	(162,993)	(152,814)
Net non-current deferred tax asset	$ 0	$ 0

Stockholders' Deficit - Additio

Stockholders' Deficit - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015$ / sharesshares	Dec. 31, 2014shares	Jun. 05, 2014shares
Capital Unit [Line Items]
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares outstanding	0	0
Exercise price of common stock | $ / shares	$ 80
Expiry of Rights	Apr. 7, 2016
Exercisable Period	The Rights are not exercisable, or transferable apart from the common stock, until the earlier of (i) ten days following a public announcement that a person or group of affiliated or associated persons have acquired beneficial ownership of 20% or more of our outstanding common stock or (ii) ten business days (or such later date, as defined) following the commencement of, or announcement of an intention to make a tender offer or exchange offer, the consummation of which would result in the beneficial ownership by a person, or group, of 20% or more of our outstanding common stock.
Beneficial ownership over common stock	20.00%
Designated as Series A preferred stock	200,000
Preferential cumulative quarterly dividend entitled to a stockholder	Greater of $1.00 per share or 100 times
Minimum cumulative quarterly dividend per share | $ / shares	$ 1
Preferred stock dividend per share multiple	100
Preferred stock voting rights	100 votes
Authorized shares of common stock, Before Amendment			200,000,000
Authorized shares of common stock, After Amendment	400,000,000	400,000,000	400,000,000
Number of authorized shares of preferred stock, Before Amendment			2,000,000
Series A Preferred Stock [Member]
Capital Unit [Line Items]
Exercise price per rights | $ / shares	$ 0.01
Increasing the number of shares of the Company's Series A Junior Participating Cumulative Preferred Stock, Before Amendment	200,000
Increasing the number of shares of the Company's Series A Junior Participating Cumulative Preferred Stock, After Amendment	1,000,000

Stock-Based Compensation Plan55

Stock-Based Compensation Plans - Additional Information (Detail) - USD ($)	Oct. 15, 2015	Sep. 14, 2015	May. 20, 2015	Mar. 06, 2015	Mar. 03, 2015	Jan. 14, 2015	Apr. 20, 2007	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense for share-based payment awards								$ 400,000	$ 200,000	$ 200,000
Total unrecognized estimated compensation expense related to non-vested stock options granted								$ 500,000
Stock plan expected to be recognized over a weighted-average period								2 years 1 month 13 days
Exercise of options, Shares/Options exercised								0	0
Tax benefit								$ 0
Number of Shares, Granted/Total options granted								1,785,000	495,000	505,000
Previously issued options to outside directors								0.00%
Approval date of 2007 Stock Award and Incentive Plan							Apr. 20, 2007
Issuance of aggregate shares								9,253,876
New shares issued under the plan								7,500,000
Shares transferred from 2000 Stock Option Plan								1,352,806
Shares transferred to 2007 plan from Directors Stock Plan								401,070
Shares available for future issuance								2,757,266
Rate at option vested								20.00%
Weighted-average grant date fair value of options granted								$ 0.54	$ 0.29	$ 0.19
2000 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Rate at option vested								20.00%
Maximum shares of common stock available for issuance								1,945,236
Director Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Previously issued options to outside directors								0.05%
Maximum shares of common stock available for issuance								725,000
Expiry of Directors Stock Plan								Jan. 29, 2007
Timothy Rothwell [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								175,000
Timothy Rothwell [Member] | Black Scholes Option Pricing Model [Member] | Option Two Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								175,000
Options valued on the grant date		$ 0.60
Outside Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								75,000
Outside Directors [Member] | Option Two Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								40,000
Outside Directors [Member] | Black Scholes Option Pricing Model [Member] | Option Two Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options valued on the grant date			$ 0.50
Michael Garone [Member] | Option Two Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options valued on the grant date					$ 0.55
Michael Garone [Member] | Black Scholes Option Pricing Model [Member] | Option One Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								40,000
Options valued on the grant date						$ 0.34
Michael Garone [Member] | Black Scholes Option Pricing Model [Member] | Option Two Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								40,000
President [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								300,000
Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								150,000
Non-Executive Employees and Consultants [Member] | Black Scholes Option Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								250,000
Options valued on the grant date				$ 0.59
Carl Sailer, Vice President, Sales and Marketing [Member] | Black Scholes Option Pricing Model [Member] | Option Two Pricing Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted/Total options granted								40,000
Options valued on the grant date	$ 0.59
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiry of vested option								5 years
Minimum [Member] | 2000 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiry of vested option								10 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiry of vested option								10 years
Maximum [Member] | 2000 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiry of vested option								5 years

Stock-Based Compensation Plan56

Stock-Based Compensation Plans - Schedule of Weighted-Average Assumptions Used for Grants Made Under Stock Option Plans (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Directors [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Expected volatility, Minimum	147.57%	143.09%	138.29%
Expected volatility, Maximum	148.95%	145.11%	141.54%
Expected term	6 years 9 months 18 days	6 years 9 months 18 days	6 years 9 months 18 days
Risk-free interest rate, Minimum	1.83%	1.97%	1.45%
Risk-free interest rate, Maximum	1.93%	2.20%	2.24%
Dividend yield	0.00%	0.00%	0.00%
Annual forfeiture rate	14.50%	14.50%	14.50%
Executives [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Expected volatility, Minimum	145.87%
Expected volatility, Maximum	148.05%
Expected volatility		142.69%	134.90%
Expected term	6 years 9 months 15 days	6 years 9 months 18 days	6 years 9 months 18 days
Risk-free interest rate, Minimum	1.58%
Risk-free interest rate, Maximum	1.90%
Risk-free interest rate		2.22%	1.21%
Dividend yield	0.00%	0.00%	0.00%
Annual forfeiture rate	14.50%	14.50%	14.50%
Employees [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Expected volatility, Minimum			134.90%
Expected volatility, Maximum			141.98%
Expected volatility	148.06%	145.03%
Expected term	6 years 9 months 18 days	6 years 9 months 18 days	6 years 9 months 18 days
Risk-free interest rate, Minimum			1.21%
Risk-free interest rate, Maximum			2.03%
Risk-free interest rate	1.99%	1.75%
Dividend yield	0.00%	0.00%	0.00%
Annual forfeiture rate	14.50%	14.50%	14.50%

Stock-Based Compensation Plan57

Stock-Based Compensation Plans - Summary of Transactions Involving Stock Options Awarded (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Outstanding, Beginning Balance	4,820,750	4,340,750	4,150,410
Number of Shares, Granted	1,785,000	495,000	505,000
Number of Shares, Expired	(58,500)	(2,000)	(88,000)
Number of Shares, Forfeited		(13,000)	(226,660)
Number of Shares Outstanding, Ending Balance	6,547,250	4,820,750	4,340,750	4,150,410
Weighted Average Exercise Price, Beginning Balance	$ 0.84	$ 0.90	$ 1.07
Stock options vested and exercisable	4,197,244
Weighted Average Exercise Price, Granted	$ 0.57	0.31	0.20
Number of stock options vested and expected to vest	6,211,254
Weighted Average Exercise price, Expired	$ 4.81	5.20	3.03
Weighted Average Exercise Price, Forfeited		0.67	1.61
Weighted Average Exercise Price, Ending Balance	0.73	$ 0.84	$ 0.90	$ 1.07
Stock options vested and exercisable, Weighted Average Exercise Price	0.79
Stock options vested and expected to vest, Weighted Average Exercise Price	$ 0.74
Weighted Average Remaining Contractual Term in Years	7 years	7 years 1 month 6 days	7 years 9 months 18 days	8 years 4 months 24 days
Stock options vested and exercisable, Weighted Average Remaining Contractual Term in Years	6 years 2 months 12 days
Stock options vested and expected to vest, Weighted Average Remaining Contractual Term in Years	7 years
Options Outstanding, Aggregate Intrinsic Value	$ 969	$ 223	$ 56	$ 1,076
Stock options vested and exercisable, Aggregate Intrinsic Value	874
Stock options vested and expected to vest, Aggregate Intrinsic Value	$ 959
Non-Plan Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Outstanding, Beginning Balance			5,000
Number of Shares, Expired			(5,000)
Number of Shares Outstanding, Ending Balance				5,000
Director Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Outstanding, Beginning Balance	21,000	21,000	42,000
Number of Shares, Expired			(21,000)
Number of Shares Outstanding, Ending Balance	21,000	21,000	21,000	42,000
Weighted Average Exercise Price, Beginning Balance	$ 8.97	$ 8.97	$ 5.93
Stock options vested and exercisable	21,000
Weighted Average Exercise price, Expired			2.89
Weighted Average Exercise Price, Ending Balance	$ 8.97	$ 8.97	$ 8.97	$ 5.93
Stock options vested and exercisable, Weighted Average Exercise Price	$ 8.97
Weighted Average Remaining Contractual Term in Years	4 months 24 days	1 year 4 months 24 days	2 years 8 months 12 days	1 year 10 months 24 days
Stock options vested and exercisable, Weighted Average Remaining Contractual Term in Years	4 months 24 days
Non-Plan Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Exercise Price, Beginning Balance			$ 3.15
Weighted Average Exercise price, Expired			$ 3.15
Weighted Average Exercise Price, Ending Balance				$ 3.15
Weighted Average Remaining Contractual Term in Years				6 months

Collaborative Research Agreem58

Collaborative Research Agreements - Additional Information (Detail) - USD ($)	Oct. 14, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2010	Oct. 26, 2015	May. 06, 2013
Indefinite-lived Intangible Assets [Line Items]
Milestone and upfront payments to agreements		$ 14,000,000	$ 0	$ 10,000,000
Expenses in research and development		0	0	$ 0
Deferred revenue		55,616,000	41,616,000
Novartis Agreement [Member]
Indefinite-lived Intangible Assets [Line Items]
Deferred revenue		13,000,000	13,000,000
GLP-1 License Agreement [Member]
Indefinite-lived Intangible Assets [Line Items]
Milestone and upfront payments to agreements		2,000,000
Deferred revenue		32,600,000	23,600,000				$ 10,000,000
Sales and development excess amount		60,000,000
Payment released to Emisphere by milestone		2,000,000
Initial upfront payment		10,000,000
Non-refundable license fee		10,000,000
Payment in support services		1,600,000
GLP-1 License Agreement [Member] | Novo Nordisk [Member]
Indefinite-lived Intangible Assets [Line Items]
Deferred revenue						$ 9,000,000
Expansion License Agreement [Member]
Indefinite-lived Intangible Assets [Line Items]
License agreement termination period	90 days
Expansion License Agreement [Member] | Up-front Payment Arrangement [Member]
Indefinite-lived Intangible Assets [Line Items]
Milestone and upfront payments to agreements	$ 5,000,000
Expansion License Agreement [Member] | Development and Sales of Exclusively Licensed Molecule Class[Member] | Maximum [Member]
Indefinite-lived Intangible Assets [Line Items]
Milestone and upfront payments to agreements	62,500,000
Expansion License Agreement [Member] | Development of Non Exclusively Licensed Molecule Class [Member] | Maximum [Member]
Indefinite-lived Intangible Assets [Line Items]
Milestone and upfront payments to agreements	20,000,000
Expansion License Agreement [Member] | Development and Sales of Additional Exclusively Licensed Molecule Class [Member] | Maximum [Member]
Indefinite-lived Intangible Assets [Line Items]
Milestone and upfront payments to agreements	62,500,000
Expansion License Agreement [Member] | Development of Additional Non Exclusively Licensed Molecule Class [Member] | Maximum [Member]
Indefinite-lived Intangible Assets [Line Items]
Milestone and upfront payments to agreements	$ 20,000,000
Expansion License Agreement [Member] | Novo Nordisk [Member]
Indefinite-lived Intangible Assets [Line Items]
Deferred revenue		5,000,000
Insulins License Agreement [Member]
Indefinite-lived Intangible Assets [Line Items]
Deferred revenue		$ 5,000,000	$ 5,000,000
Sales and development excess amount					$ 57,500,000
Initial upfront payment					5,000,000
Non-refundable license fee					$ 5,000,000

Defined Contribution Retireme59

Defined Contribution Retirement Plan - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Sale Of Subsidiary [Abstract]
Contributions to the Retirement Plan	$ 40	$ 40	$ 30

Net Loss Per Share - Basic and

Net Loss Per Share - Basic and Diluted Earnings Per share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Net loss	$ (10,127)	$ (4,422)	$ 7,136	$ (32,968)	$ 420	$ (14,373)	$ (8,069)	$ (3,358)	$ (40,381)	$ (25,380)	$ (20,939)
Net loss per common share, basic and diluted:
Weighted average common shares outstanding, basic									60,687,478	60,687,478	60,687,478
Net loss per share, basic and diluted									$ (0.67)	$ (0.42)	$ (0.35)

Net Loss Per Share - Potential

Net Loss Per Share - Potential Shares of Common Stock Excluded from Diluted Net Loss Per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Impairment Effects on Earnings Per Share [Line Items]
Options to purchase common shares	6,547,250	4,820,750	4,340,750
Outstanding warrants and options to purchase warrants	25,008,082	27,443,728	27,443,727
Potential shares of common stock excluded from diluted net loss per share	74,529,401	70,057,726	65,061,481
Amended and Restated Convertible Notes [Member]
Impairment Effects on Earnings Per Share [Line Items]
Amended and Restated notes	37,233,561	32,717,484	28,748,424
Amended and Restated Reimbursement Notes [Member]
Impairment Effects on Earnings Per Share [Line Items]
Amended and Restated notes	1,510,682	1,365,606	1,274,334
Bridge Notes [Member]
Impairment Effects on Earnings Per Share [Line Items]
Amended and Restated notes	4,229,826	3,710,158	3,254,246

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Leases Future Minimum Payment Due [Line Items]
Operating lease expiration period	2,017
Rent expense	$ 100,000	$ 100,000	$ 100,000
Additional charges under lease for real estate taxes and common maintenance charges	40,000	$ 40,000	$ 20,000
Liabilities recorded for indemnification provisions	$ 0
Royalty Agreement [Member]
Operating Leases Future Minimum Payment Due [Line Items]
Net sales percentage on royalty agreement	20.00%
Net sales percentage on royalty agreement	5.00%
Net sales percentage on royalty agreement	2.50%
Royalty agreement description	(i) five percent (5%) of all Net Sales and third party payments commencing with the first quarter immediately following the quarter in which the Indebtedness Repayment Condition is satisfied, or (ii) two and one half percent (2.5%) of all Net Sales commencing with the quarter immediately following the quarter in which the Indebtedness Repayment Condition is satisfied, but only with respect to the Net Sales made in any country in which there was not a Valid Patent Claim (as defined in the Royalty Agreement) and where generic entry of a competitive product not by the Company or its affiliates that does not infringe a Valid Patent Claim in such country has occurred, in each case as of the last day of such Fiscal Quarter.

Commitments and Contingencies63

Commitments and Contingencies - Future Minimum Rental Payments (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 148
2,017	74
Total	$ 222

Summarized Quarterly Financia64

Summarized Quarterly Financial Data (Unaudited) - Schedule of Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Net revenue	$ 187	$ 130	$ 88	$ 6					$ 411
Gross profit (loss)	(567)	72	33	(19)					(481)
Operating loss	(4,196)	(4,668)	(4,564)	(4,668)	$ (3,301)	$ (2,120)	$ (1,539)	$ (2,345)	(18,096)	$ (9,305)	$ (7,604)
Net income (loss)	$ (10,127)	$ (4,422)	$ 7,136	$ (32,968)	$ 420	$ (14,373)	$ (8,069)	$ (3,358)	$ (40,381)	$ (25,380)	$ (20,939)
Net income (loss) per share, basic	$ (0.18)	$ (0.07)	$ 0.12	$ (0.54)	$ 0.01	$ (0.24)	$ (0.13)	$ (0.06)
Net income (loss) per share, diluted	$ (0.18)	$ (0.07)	$ (0.04)	$ (0.54)	$ 0.01	$ (0.24)	$ (0.13)	$ (0.06)

Fair Value - Fair Value Hierarc

Fair Value - Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative instruments	$ 47,966	$ 29,920
Level 2 [Member]
Derivative [Line Items]
Derivative instruments	12,343	5,506
Level 3 [Member]
Derivative [Line Items]
Derivative instruments	$ 35,623	$ 24,414

Fair Value - Schedule of Change

Fair Value - Schedule of Changes in Fair Value of Level 3 Financial Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative liability of embedded conversion feature	$ 24,414	$ 11,587
Beginning Balance	24,414	11,587
Change in fair value	7,079	10,287
Ending Balance	35,623	24,414
Bridge Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative liability of embedded conversion feature	221	221
Beginning Balance	221
Ending Balance	377	221
Reimbursement Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative liability of embedded conversion feature	47	47
Beginning Balance	47
Ending Balance	105	47
Convertible Notes [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative liability of embedded conversion feature	2,272	2,272
Beginning Balance	2,272
Ending Balance	$ 3,648	$ 2,272