Pathfinder Cell Therapy (PFND) Inactive 10-Q14 Nov 132013 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2013
Document and Entity Information [Abstract]	'
Entity Registrant Name	'Pathfinder Cell Therapy, Inc.
Entity Central Index Key	'0000889428
Amendment Flag	'false
Current Fiscal Year End Date	'--12-31
Document Type	'10-Q
Document Period End Date	30-Sep-13
Document Fiscal Year Focus	'2013
Document Fiscal Period Focus	'Q3
Entity Filer Category	'Smaller Reporting Company
Entity Common Stock, Shares Outstanding	667,160,870

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended		59 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Revenue	'	'	'	'	'
Product sales	$8	$20	$54	$83	$241
Revenue	8	20	54	83	241
Cost of goods sold	4	8	24	34	100
Gross profit	4	12	30	49	141
Operating expenses:	'	'	'	'	'
Research and development	187	301	724	988	4,897
General and administrative	132	125	478	621	3,457
Sales and marketing	5	6	19	19	74
Impairment of intangible asset	'	'	161	'	8,288
Operating expenses	324	432	1,382	1,628	16,716
Loss from operations before other income / (expense)	-320	-420	-1,352	-1,579	-16,575
Other income/(expense):	'	'	'	'	'
Interest (expense), net	-52	-28	-141	-60	-383
Termination of license agreement	'	'	250	'	374
Other income/(expense)	-52	-28	109	-60	-9
Loss before income tax benefit	-372	-448	-1,243	-1,639	-16,584
Income tax benefit	'	'	'	'	'
Net loss	($372)	($448)	($1,243)	($1,639)	($16,584)
Net loss per common share-basic and diluted	$0	$0	$0	$0	'
Weighted average shares outstanding	667,162	667,161	667,162	667,161	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Current assets:	'	'
Cash	$51	$9
Accounts receivable	8	28
Inventory	12	33
Prepaid expenses	100	78
Total current assets	171	148
Intangible, net of accumulated amortization	37	208
Machinery, equipment and software, less accumulated depreciation	'	'
TOTAL	208	356
Current liabilities:	'	'
Accounts payable	191	76
Accrued expenses (including related party amount of $220,000 and $370,000, respectively)	447	630
Current portion of long term payable	'	15
Insurance note payable	75	45
Note payable - Clubb Capital	244	244
Convertible notes payable (including related party amount of $1,775 and $700, respectively)	3,340	1,965
Total current liabilities	4,297	2,975
Long term payable - net of current portion	'	232
Commitments and other matters (Note K)	'	'
Capital deficit:	'	'
Preferred stock, $.01 par value; shares authorized - 5,000; issued and outstanding - none	'	'
Common stock, $.001 par value; shares authorized - 1,000,000 issued and outstanding - 667,162 at September 30, 2013 and December 31, 2012	667	667
Additional paid-in capital	11,828	11,823
Accumulated deficit	-16,584	-15,341
Total capital deficit	-4,089	-2,851
TOTAL	$208	$356

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Balance Sheet [Abstract]	'	'
Related party amount of accrued expenses	$220	$370
Related party of convertible notes payable	$1,775	$700
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	1,000,000	1,000,000
Common stock, shares issued	667,162	667,162
Common stock, shares outstanding	667,162	667,162

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Changes in Stockholders Equity (USD $)		Total	Common Stock	Additional Paid In Capital	Accumulated Loss
In Thousands		Total	Common Stock	Additional Paid In Capital	Accumulated Loss
Beginning Balance at Nov. 04, 2008		'	'	'	'
Cash Contributions	[1]	0	332	-332	'
Cash Contributions, shares	[1]	'	332,050	'	'
Net Loss		-32	'	'	-32
Balance at Dec. 31, 2008		-32	332	-332	-32
Balance, shares at Dec. 31, 2008		'	332,050	'	'
Cash Contributions		430	'	430	'
Equity Issued for License	[1]	11	126	-115	'
Equity Issued for License, shares	[1]	'	125,950	'	'
Net Loss		-547	'	'	-547
Balance at Dec. 31, 2009		-138	458	-17	-579
Balance, shares at Dec. 31, 2009		'	458,000	'	'
Cash Contributions		307	'	307	'
Net Loss		-1,294	'	'	-1,294
Balance at Dec. 31, 2010		-1,125	458	290	-1,873
Beginning Balance, shares at Dec. 31, 2010		'	458,000	'	'
Opening balance restatement for MGH license		-42	'	'	-42
Issuance of shares in Merger transaction - September 2, 2011		6,020	114	5,906	'
Issuance of shares in Merger transaction - September 2, 2011, shares		'	114,500	'	'
Issuance of shares in a private placement and conversion of notes payable - September 2, 2011 at $0.05 per shares, net of placement costs of $575		3,909	90	3,819	'
Issuance of shares in a private placement and conversion of notes payable - September 2, 2011 at $0.05 per shares, net of placement costs of $575, shares		'	89,662	'	'
Issuance of warrants to placement agent		237	'	237	'
Issuance of shares in settlement of Yissum liability		350	5	345	'
Issuance of shares in settlement of Yissum liability, shares		'	5,000	'	'
Shareholder contribution -3% merger fee due to MGH		687	'	687	'
Stock-based Compensation		527	'	527	'
Net Loss		-11,270	'	'	-11,270
Balance at Dec. 31, 2011		-707	667	11,811	-13,185
Balance, shares at Dec. 31, 2011		'	667,162	'	'
Stock-based Compensation		12	'	12	'
Net Loss		-2,156	'	'	-2,156
Balance at Dec. 31, 2012		-2,851	667	11,823	-15,341
Balance, shares at Dec. 31, 2012		'	667,162	'	'
Stock-based Compensation		5	'	5	'
Net Loss		-1,243	'	'	-1,243
Balance at Sep. 30, 2013		($4,089)	$667	$11,828	($16,584)
Balance, shares at Sep. 30, 2013		'	667,162	'	'

[1]	Share amounts, common stock and additional paid-in capital amounts were restated using the exchange ratio of the Merger to reflect the legal structure of legal acquirer.

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Changes in Stockholders Equity (Parenthetical) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2011
Statements of Changes in Stockholders Equity [Abstract]	'
Stock issuance date of merger transaction and of private placement and conversion of notes payable	2-Sep-11
Issuance of shares, price per share	$0.05
Issuance of shares, placement costs	$575
Merger fee due to MGH	3.00%

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended		59 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Cash flows from operating activities:	'	'	'
Net loss	($1,243)	($1,639)	($16,584)
Adjustments to reconcile net loss to Net cash used in operating activities:	'	'	'
Depreciation and amortization	10	15	81
Stock based compensation relating to options	5	10	544
Shareholder contribution -3% merger fee due to MGH	'	'	687
Goodwill / intangible impairment loss	161	'	8,288
Reversal of liability	-250	'	-374
Accretion of long term liability	3	'	20
Changes in operating assets and liabilities:	'	'	'
Decrease in accounts receivable	20	43	93
Decrease (increase) in inventory	21	1	64
Decrease in prepaid expenses	78	116	258
Increase (decrease) in accounts payable	115	-22	188
(Decrease) increase in accrued expenses	-183	28	-42
Net cash used in operating activities	-1,263	-1,448	-6,777
Cash flows from investing activities:	'	'	'
Acquisition of licenses	'	'	-90
Payments for notes receivable	'	'	-1,173
Cash acquired from merger	'	'	14
Net cash used in investing activities	0	0	-1,249
Cash flows from financing activities:	'	'	'
Net proceeds from the issuance of common stock	'	'	1,283
Payments of insurance note payable	-70	-98	-260
Proceeds from convertible notes payable	1,375	1,365	6,317
Contributions from Pathfinder, LLC members	'	'	737
Net cash provided by financing activities	1,305	1,267	8,077
Net (decrease) increase in cash	42	-181	51
Cash at beginning of period	9	196	'
Cash at end of period	51	15	51
Supplementary disclosure of non-cash investing and financing activities:	'	'	'
Members' equity issued for license	'	'	11
Notes receivable and payable through intermediary entity	'	'	130
Long term payable for license	'	'	177
Financing of placement agent commission through notes payable	'	'	244
Financing of insurance premiums through notes payable	100	99	335
Common stock issued in settlement of Yissum liability	'	'	350
Conversion of notes into common stock	'	'	3,107
Details of merger with SyntheMed:	'	'	'
Fair value of assets acquired	'	'	201
Liabilities assumed	'	'	2,322
Non-cash consideration	'	'	$6,020

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	9 Months Ended
	Sep. 30, 2013
Statements of Cash Flows [Abstract]	'
Percentage of merger fees due to related party	3.00%

Basis_of_Presentation_and_Goin

Basis of Presentation and Going Concern	9 Months Ended
Basis of Presentation and Going Concern	Sep. 30, 2013
Basis Of Presentation and Going Concern [Abstract]	'
Basis of Presentation and Going Concern	'
	A) Basis of Presentation and Going Concern

	The accompanying condensed consolidated financial statements of Pathfinder Cell Therapy, Inc., a Delaware corporation formerly known as “SyntheMed, Inc.” (“Pathfinder” or the “Company”), do not include all of the information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles; but, in the opinion of management, contain all adjustments (which consist of only normal recurring adjustments) necessary for a fair presentation of such financial information. Results of operations and cash flows for interim periods are not necessarily indicative of those to be achieved for full fiscal years. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2012 included in the Company’s Annual Report on Form 10-K.

	In September 2011, the Company completed a reverse merger, business combination (the “Merger”) with Pathfinder, LLC, a Massachusetts limited liability company. Pathfinder, LLC was deemed the “accounting acquirer” in the Merger, and the transaction has been accounted for as a reverse acquisition of our company by Pathfinder, LLC under the purchase method of accounting for business combinations in accordance with United States generally accepted accounting principles. Following the transaction, the business of Pathfinder, LLC became the primary business of the Company and the legacy SyntheMed business has continued on a limited basis without significant development or investment.

	The Company is a development stage regenerative medicine company seeking to develop novel cell-based and related therapies for the treatment of a broad range of diseases and medical conditions characterized by organ-specific cell damage. The Company faces certain risks and uncertainties similar to those faced by other early stage regenerative medicine companies including its ability to obtain additional funding, the success and timetable of required clinical trials, its future profitability, uncertainty regarding development and commercialization of the Company’s product candidates, competition and technology change and government regulations, including the need for product approvals.

	To date, the Company has relied on the proceeds raised by the issuance of convertible debt and equity to fund its operating requirements. As of September 30, 2013, the Company does not have sufficient cash on hand or anticipate generating sufficient revenue from operations to meet the Company’s anticipated cash requirements through September 30, 2014 based on its present plan of operations. Accordingly, the Company will seek additional funds, which is anticipated to be in the form of convertible debt and/or equity. No assurance can be given that additional financing will be available to the Company on acceptable terms or at all. In the absence of an additional cash infusion, the Company will be unable to continue as a going concern.

	These condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of the carrying amount of recorded assets and liabilities that might be necessary if the Company is unable to continue as a going concern. The report of the independent auditor on the Company’s financial statements for the year ended December 31, 2012 contains an explanatory paragraph referring to a substantial doubt concerning the Company’s ability to continue as a going concern.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	B) Summary of Significant Accounting Policies

	Consolidation

	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Pathfinder, LLC. All inter-company accounts and transactions have been eliminated in consolidation.

	Use of estimates

	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions, on an ongoing basis. We evaluate our estimates, including those related to uncollectible receivables, inventory valuation allowance, useful lives of intangible assets, valuation of stock-based compensation and income taxes, that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

	Cash and Cash Equivalents

	The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. The Company deposits cash and cash equivalents with high credit quality financial institutions and believes any amounts in excess of insurance limitations to be at minimal risk. Cash and cash equivalents held in these accounts are insured by the Federal Deposit Insurance Corporation up to a maximum of $250,000 through December 31, 2013, and $100,000 thereafter.

	Intangible Assets

	Intangible assets represent the intellectual property and other rights licensed to Pathfinder, LLC with respect to separate technologies under an agreement with each of the University of Glasgow and Massachusetts General Hospital (“MGH”). Intangible assets are amortized using the straight-line method over the estimated useful life of 15 years, which is based upon management’s estimate of the timelines for the typical development, approval, and marketing and life cycle of pharmaceutical drug products.

	During the quarter ended June 30, 2013, the Company determined that the technology licensed from MGH was no longer relevant to the development of Pathfinder’s products and terminated the MGH license agreement, impairing the entire carrying amount of this intangible asset. As a result, the Company recorded an impairment charge of $161,000 for the nine month period ended September 30, 2013.

	Impairment of Long-Lived Assets

	The Company evaluates its long-lived assets for indicators of possible impairment by comparison of the carrying amounts to future net undiscounted cash flows expected to be generated by such assets when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Should an impairment exist, the impairment loss would be measured based on the excess carrying value of the asset over the asset’s fair value or discounted estimates of future cash flows.

	Stock based compensation

	The Company follows the FASB ASC 718 “Compensation – Stock Compensation” which requires all share-based payments to employees, including grants of employee stock options, to be recognized as compensation expense over the requisite service period (generally the vesting period) in the financial statements based on their fair values. The impact of forfeitures that may occur prior to vesting is also estimated and considered in the amount of expense recognized. This estimate is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate. In addition, the realization of tax benefits in excess of amounts recognized for financial reporting purposes will be recognized in the cash flow statement as a financing activity rather than as an operating activity.

	Income taxes

	The Company accounts for income taxes using the asset and liability method described in FASB ASC 740-10 “Income Taxes” the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting and the tax bases of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized.

	Fair Value

	The carrying amounts of cash, accounts receivables, accounts payable, accrued expenses and notes payable approximate fair value based on their short-term maturity. The carrying value of the long term payable approximates fair value, as the interest rate used to discount the payable still approximates the Company’s current borrowing rate.

	Research and development

	All research and development activities, including any preclinical and clinical studies and product development activities, are outsourced (see Note J). Research and development costs, representing principally new product development and manufacturing development, are charged to expense as incurred.

	Patent costs

	Costs incurred in connection with acquiring patent rights and the protection of proprietary technologies are charged to expense as incurred.

	Comprehensive Income (Loss)

	The Company’s comprehensive loss is equal to its net loss for all periods presented, and, as a result, no statement of comprehensive loss has been included in the condensed consolidated financial statements.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2013
Inventory [Abstract]	'
Inventory	'
	C) Inventory

	All inventories relate to the SyntheMed business and consist of the following:

		September 30,		December 31,
		2013		2012

	Raw materials	$	12,000	$	12,000
	Finished goods		-		21,000
		$	12,000	$	33,000

Notes_Payable

Notes Payable	9 Months Ended
Notes Payable	Sep. 30, 2013
Notes Payable [Abstract]	'
Notes Payable	'
	D) Notes Payable

	[1] Convertible Notes Payable:

	Since September 2010 and prior to the Merger, Pathfinder, LLC had been funding its operations as well as the operations of the Company (SyntheMed, Inc.) with proceeds from investors, including Breisgau BioVentures SA, an owner of 52.5% of the outstanding membership interests of Pathfinder, LLC prior to the Merger, through the issuance of convertible notes payable. The notes payable had an interest rate of 6% per annum, were due and payable on the earlier to occur of the first anniversary of issuance or the closing of the Merger and were convertible, at the election of the payee, into equity securities of the Company for the subscription price thereof in an offering by the Company conducted in connection with the Merger, which is referred to herein as the “Capital Raise.”

	From time to time since February 2012, the Company borrowed from investors an aggregate of $3,340,000 principal amount pursuant to promissory notes bearing interest at 6% per annum, all of which remained outstanding as of September 30, 2013. Of such amounts, $100,000 was invested by Mr. Joerg Gruber, the Company’s Chairman of the Board, and $1,675,000 was invested by Breisgau Bio Ventures SA., the Company’s principal stockholder. Principal and interest are due and payable on the first anniversary of issuance. None of the holders whose notes have matured, aggregating $1,365,000 in principal amount as of September 30, 2013, have requested payment. At any time prior to completion or termination of the Capital Raise, the holder may elect to convert the principal amount of its promissory notes, and/or accrued interest thereon, into shares of the Company’s common stock in the Capital Raise at the subscription price thereof.

	[2] Insurance Notes Payable:

	In September 2013, the Company entered into a short term financing agreement for our directors’ and officers’ liability insurance premium totaling $75,100 and payable in monthly installments including interest of $7,600. The monthly installments are due through July 2014 and carry an interest rate of 2.94% per annum.

	In March 2013, the Company entered into a short term financing agreement covering $24,400 in aggregate premiums for product liability insurance relating to the SyntheMed business. The financed amount is payable in monthly installments each in the amount of $2,500 (including interest at 4.52% per annum) through December 2013.

	In March 2012, the Company entered into a short term financing agreement covering $24,400 in aggregate premiums for product liability insurance relating to the SyntheMed business. The financed amount is payable in monthly installments each in the amount of $2,500 (including interest at 4.52% per annum) through December 2012.

	In September 2012, the Company entered into a short term financing agreement for our directors’ and officers’ liability insurance premium totaling $75,000 and payable in monthly installments including interest of $7,600. The monthly installments are due through July 2013 and carry an interest rate of 3.45% per annum.

Longterm_payable

Long-term payable	9 Months Ended
Long-term payable	Sep. 30, 2013
Long-term payable [Abstract]	'
Long-term payable	'
	E) Long-term payable

	The Company has recorded a long term payable for its estimated licensing fee obligations under the MGH license agreement (See Note J[2]). The amounts recorded represent the projected future license fees payable based on the Company’s estimate of 2017 as the first year of commercial sale, discounted to the present value using the following assumptions: Net Present Value calculated as of the agreement’s effective date of April 13, 2009, using an estimated borrowing rate for the Company of 10%. If first commercial sale is not achieved by 2017, any additional license fees incurred under the agreement will continue to be capitalized and amortized over the remaining period in the term. During the period ended June 30, 2013, the Company determined that the technology licensed from MGH was no longer relevant to Pathfinder’s business and terminated the MGH license agreement. As a result, the Company has reversed the long term payable in the amount of $250,000. No additional amounts are due to be paid because of the termination of the license.

Net_Loss_Per_Common_Share

Net Loss Per Common Share	9 Months Ended
Net Loss Per Common Share	Sep. 30, 2013
Net Loss Per Common Share [Abstract]	'
Net Loss Per Common Share	'
	F) Net Loss Per Common Share

	Basic and diluted net loss per common share is computed using the weighted average number of shares outstanding at September 30, 2013 and excludes 26,678,000 common shares potentially issuable upon the exercise of outstanding options and warrants since their inclusion would have been anti-dilutive.

Capital_Transaction

Capital Transaction

9 Months Ended

Sep. 30, 2013

Capital Transaction [Abstract]

Capital Transaction

G) Capital Transaction

[1] Stock based compensation:

At September 30, 2013, the Company has one stock-based compensation plan, the 2006 Stock Option Plan, under which the Company is authorized to issue incentive stock options and non-qualified stock options to purchase up to an aggregate of 25,000,000 shares of common stock. At September 30, 2013, there were 5,286,000 options available for grant under this plan. The exercise price is determined by the Compensation Committee of the Board of Directors at the time of the granting of an option. Options vest over a period not greater than five years, and expire no later than ten years from the date of grant.

There were no options granted during the nine month periods ended September 30, 2013 and 2012.

The following summarizes the activities of the Company’s stock options for the nine months ended September 30, 2013 (shares in thousands):

Weighted Average

Weighted Average Remaining

Exercise Price

Contractual Term

Aggregate

Intrinsic Value

Number of shares under option plans:

Outstanding at January 1, 2013

20,950

0.14

3.3 Years

Cancelled, expired or forfeited

548

0.35

Granted

Outstanding at September 30, 2013

20,402

0.13

2.6 Years

Exercisable at September 30, 2013

20,052

0.13

2.6 Years

Expected to vest after September 30, 2013

20,302

0.13

2.6 Years

As of September 30, 2013, there was approximately $2,000 of unrecognized stock compensation related to unvested awards (net of estimated forfeitures) expected to be recognized over the next 12 months.

The Company has recorded a charge of $5,000 in general and administrative expense for the nine months ended September 30, 2013 for the pro-rata share of the fair value of the unvested options granted during September 2011 that vest through September 2014.

At September 30, 2013, the Company had 100,000 options outstanding which vest upon the achievement of certain performance criteria. These options have a term of 10 years from date of grant and an exercise price of $0.80.

[2] Warrants:

As of September 30, 2013, the following warrants were outstanding to purchase up to 6,276,306 shares of the Company’s Common Stock:

6,276,306

exercisable at $0.055 per share which expire on September 30, 2016

6,276,306

Income_Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2013
Income Taxes [Abstract]	'
Income Taxes	'
	H) Income Taxes

	At September 30, 2013 and December 31, 2012, the Company had a deferred tax asset which was fully reserved by a valuation allowance to reduce the deferred tax asset to the amount that is expected to be realized.

	As a result of the Merger, the Company’s net operating losses and research and development credits will be subject to a limitation pursuant to Section 382. In general, the formula would be the value of the equity times the prescribed federal rate of 3.28%.

	As of September 30, 2013, the Company has not recorded any provisions for accrued interest and penalties related to uncertain tax positions.

	By statute, tax years 2009 through 2012 remain open to examination by the major taxing jurisdictions to which the Company is subject.

Nature_of_Business

Nature of Business	9 Months Ended
Nature of Business	Sep. 30, 2013
Nature of Business [Abstract]	'
Nature of Business	'
	I) Nature of Business

	The Company’s revenue from the sale of REPEL-CV for the periods ended September 30, 2013 and 2012 was as follows:

	Geographic Information

		Three					Nine
		Months Ended					Months Ended
		September 30,					September 30,
		2013		2012			2013		2012
		Revenues					Revenues

	United States	$	-		$	-	$	-		$	13,000
	Russia		-			3,000		27,000			16,000
	Columbia		-			-		-			14,000
	Hong Kong		-			10,000		6,000			28,000
	Brazil		8,000			-		8,000			-
	Italy		-			2,000		-			2,000
	Pakistan		-			-		3,000			-
	Czech Republic		-			5,000		10,000			10,000

		$	8,000		$	20,000	$	54,000		$	83,000

	All of the Company’s Long-Lived Assets are located in the United States of America.

Commitments_and_Other_Matters

Commitments and Other Matters	9 Months Ended
Commitments and Other Matters	Sep. 30, 2013
Commitments and Other Matters [Abstract]	'
Commitments and Other Matters	'
	J) Commitments and Other Matters

	[1] University of Glasgow Agreement

	The Company has entered into an agreement for a worldwide exclusive license for technology developed by the University of Glasgow. Under the terms of the license, the Company is obligated to pay a royalty ranging from 1.5 - 3% of all sales based on the technology licensed from the University of Glasgow, up to a cumulative total of $12,000,000. The agreement terminates when the last patent expires or fifteen years from the date of the first commercial sale of a product.

	In 2009, the Company entered into a research agreement with the University of Glasgow, whereby the University conducts research on behalf of the Company relating to the technology licensed by the Company from the University. The agreement has been extended for annual periods. In April 2012, the parties extended the research period for a twelve-month period ended March 2013 at a cost of approximately GBP 432,000 (approximately $700,000 based on exchange rates in effect on September 30, 2013), payable by the Company over the course of the twelve months. In April 2013, the parties extended the research period for an additional twelve-month period at a cost of approximately GBP 205,000 (approximately $332,000 based on exchange rates in effect on September 30, 2013), payable by the Company over the course of the twelve months. Under these agreements, the Company recorded an expense for the three and nine month periods ended September 30, 2013 of $83,000 and $330,000, compared to $179,000 and $510,000 for the corresponding prior year periods.

	[2] MGH Agreement

	The Company had entered into an agreement for a worldwide exclusive license for a family of patents covering related technology from the Massachusetts General Hospital (MGH). Under the license agreement, the Company was obligated to pay a royalty ranging from 10 - 20% of all net sales of the Company’s product sales relating to the MGH licensed technology, up to a maximum amount of $15,000,000, and additional royalties of 3% of all net sales based on the technology licensed from the University of Glasgow, up to a cumulative total of $15,000,000. During the quarter ended June 30, 2013, the Company determined that the licensed technology was no longer relevant to the development of Pathfinder’s products and terminated the license agreement. As a result, the Company recorded an impairment charge of $161,000 for the nine month periods ended September 30, 2013.

	[3] Yissum Agreement

	In December 2011, the Company amended the license agreement with Yissum Research Development Company of the Hebrew University of Jerusalem (“Yissum”), for the polymer technology used in the SyntheMed business in exchange for a cash payment of $150,000 and the issuance of 1,000,000 shares of its common stock to Yissum. The amended agreement modified certain rights of use to the technology, settled certain claims related to unpaid royalty obligations of the Company and established the Company’s rights under the new agreement to not be subject to payments of minimum royalties, as they were under the prior agreement.

	[4] diZerega Agreement:

	The Company is party to an agreement relating to the SyntheMed polymer technology with Gere S. diZerega, M.D. whereby the Company is obligated to pay Dr. diZerega a royalty of one percent of all net sales of covered products in any and all countries. The agreement continues until the end of fifteen years from the date of the first commercial sale of such covered product in that country.

	[5] Employment Agreement

	At September 30, 2013, the Company had an employment agreement with one individual that is scheduled to expire in September 2014, subject to automatic renewal for one-year periods. Pursuant to this agreement, in case of early termination under certain circumstances, the Company’s commitment regarding cash severance benefits aggregates $28,000 at September 30, 2013. Effective January 1, 2013, the Company’s annual salary obligation is $113,000.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	K) Related Party Transactions

	Two of Pathfinder, LLC’s founding members, Dr. Richard Franklin and Mr. Joerg Gruber, have been directors of the Company (formerly SyntheMed, Inc.) since prior to the Merger. Dr. Franklin, the Company’s CEO and President, was SyntheMed’s sole executive officer at the time of the Merger. The Company pays Dr. Franklin a monthly consulting fee of $10,000, which amount reflects a reduction, effective August, 2012, from the previous $15,000 per month consulting fee. Mr. Gruber, the Company’s Chairman, is Chairman and a director of Clubb Capital Limited, the placement agent for the Capital Raise. Effective on the merger with Pathfinder, LLC in September 2011 , each of our directors, other than Dr. Franklin and Mr. Gruber, was entitled to receive, as full compensation for service as a director, including service on any committee of the Board of Directors, annual cash compensation, paid quarterly in arrears, of $20,000. Effective beginning the fourth quarter, 2012, we changed our director compensation policy to provide for compensation to Mr. Gruber on the same basis as other non-executive directors.

	Between September 2010 and March 2011, Pathfinder, LLC borrowed an aggregate principal amount of $1,357,000 from Breisgau BioVentures SA, an owner of 52.5% of the outstanding membership interests of Pathfinder, LLC prior to the Merger. Breisgau subsequently converted such principal amount into shares of the Company’s common stock in the Capital Raise. At September 30, 2013, the Company had borrowed an additional $1,675,000 principal amount from Breisgau BioVentures SA. See Note D[1].

	The Company’s core technology was originally derived from research conducted at the University of Glasgow. Pathfinder relies on the University of Glasgow as well as third party laboratories for its research and development activities, all of which is funded by Pathfinder. Intellectual property resulting from activities conducted at the University of Glasgow is owned by the university and licensed to Pathfinder under the terms of a license agreement between the university and Pathfinder. The university beneficially owns 9.5% of the outstanding shares of common stock of the Company. Additionally, Dr. Paul Shiels led and Dr. Wayne Davies participated in the research conducted at the university and are co-inventors of the technology derived therefrom. Dr. Shiels is affiliated with the university and Dr. Davies was affiliated with the university at the time of the research and has since retired from that position. Dr. Shiels assists with the Company’s research and development program through the university and Dr. Davies provides scientific consulting services to the Company. As of September 30, 2013, Dr. Shiels and Dr. Davies beneficially owned 5.7% and 3.8%, respectively, of the outstanding shares of common stock of the Company.

Subsequent_Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	N) Subsequent Events

	Subsequent to September 30, 2013, the Company borrowed an additional aggregate principal amount of $135,000 from Breisgau BioVentures SA on the same terms as amounts borrowed during the quarter then ended. See Note D[1].

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'
Consolidation	'
	Consolidation

	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Pathfinder, LLC. All inter-company accounts and transactions have been eliminated in consolidation.
Use of estimates	'
	Use of estimates

	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions, on an ongoing basis. We evaluate our estimates, including those related to uncollectible receivables, inventory valuation allowance, useful lives of intangible assets, valuation of stock-based compensation and income taxes, that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents

	The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. The Company deposits cash and cash equivalents with high credit quality financial institutions and believes any amounts in excess of insurance limitations to be at minimal risk. Cash and cash equivalents held in these accounts are insured by the Federal Deposit Insurance Corporation up to a maximum of $250,000 through December 31, 2013, and $100,000 thereafter.
Intangible Assets	'
	Intangible Assets

	Intangible assets represent the intellectual property and other rights licensed to Pathfinder, LLC with respect to separate technologies under an agreement with each of the University of Glasgow and Massachusetts General Hospital (“MGH”). Intangible assets are amortized using the straight-line method over the estimated useful life of 15 years, which is based upon management’s estimate of the timelines for the typical development, approval, and marketing and life cycle of pharmaceutical drug products.

	During the quarter ended June 30, 2013, the Company determined that the technology licensed from MGH was no longer relevant to the development of Pathfinder’s products and terminated the MGH license agreement, impairing the entire carrying amount of this intangible asset. As a result, the Company recorded an impairment charge of $161,000 for the nine month period ended September 30, 2013.
Impairment of Long-Lived Assets	'
	Impairment of Long-Lived Assets

	The Company evaluates its long-lived assets for indicators of possible impairment by comparison of the carrying amounts to future net undiscounted cash flows expected to be generated by such assets when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Should an impairment exist, the impairment loss would be measured based on the excess carrying value of the asset over the asset’s fair value or discounted estimates of future cash flows.
Stock-based compensation	'
	Stock based compensation

	The Company follows the FASB ASC 718 “Compensation – Stock Compensation” which requires all share-based payments to employees, including grants of employee stock options, to be recognized as compensation expense over the requisite service period (generally the vesting period) in the financial statements based on their fair values. The impact of forfeitures that may occur prior to vesting is also estimated and considered in the amount of expense recognized. This estimate is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate. In addition, the realization of tax benefits in excess of amounts recognized for financial reporting purposes will be recognized in the cash flow statement as a financing activity rather than as an operating activity.
Income taxes	'
	Income taxes

	The Company accounts for income taxes using the asset and liability method described in FASB ASC 740-10 “Income Taxes” the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting and the tax bases of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Fair value	'
	Fair Value

	The carrying amounts of cash, accounts receivables, accounts payable, accrued expenses and notes payable approximate fair value based on their short-term maturity. The carrying value of the long term payable approximates fair value, as the interest rate used to discount the payable still approximates the Company’s current borrowing rate.
Research and development	'
	Research and development

	All research and development activities, including any preclinical and clinical studies and product development activities, are outsourced (see Note J). Research and development costs, representing principally new product development and manufacturing development, are charged to expense as incurred.
Patent costs	'
	Patent costs

	Costs incurred in connection with acquiring patent rights and the protection of proprietary technologies are charged to expense as incurred.
Comprehensive Income (Loss)	'
	Comprehensive Income (Loss)

	The Company’s comprehensive loss is equal to its net loss for all periods presented, and, as a result, no statement of comprehensive loss has been included in the condensed consolidated financial statements.

Inventory_Tables

Inventory (Tables)	9 Months Ended
	Sep. 30, 2013
Inventory [Abstract]	'
Summary of inventories relate to the SyntheMed business	'

		September 30,		December 31,
		2013		2012

	Raw materials	$	12,000	$	12,000
	Finished goods		-		21,000
		$	12,000	$	33,000

Capital_Transaction_Tables

Capital Transaction (Tables)	9 Months Ended
Capital Transaction (Tables)	Sep. 30, 2013
Capital Transaction [Abstract]	'
Summary of stock options activity	'

				Weighted Average		Weighted Average Remaining
				Exercise Price		Contractual Term	Aggregate
		Shares					Intrinsic Value
	Number of shares under option plans:
	Outstanding at January 1, 2013		20,950	$	0.14	3.3 Years
	Cancelled, expired or forfeited		548		0.35
	Granted		-		-	-
	Outstanding at September 30, 2013		20,402	$	0.13	2.6 Years	$	0
	Exercisable at September 30, 2013		20,052	$	0.13	2.6 Years

	Expected to vest after September 30, 2013		20,302	$	0.13	2.6 Years	$	0
Summary of warrants	'

	6,276,306	exercisable at $0.055 per share which expire on September 30, 2016

	6,276,306

Nature_of_Business_Tables

Nature of Business (Tables)	9 Months Ended
Nature of Business (Tables)	Sep. 30, 2013
Nature of Business [Abstract]	'
Summary of company's revenues	'
	Geographic Information

		Three					Nine
		Months Ended					Months Ended
		September 30,					September 30,
		2013		2012			2013		2012
		Revenues					Revenues

	United States	$	-		$	-	$	-		$	13,000
	Russia		-			3,000		27,000			16,000
	Columbia		-			-		-			14,000
	Hong Kong		-			10,000		6,000			28,000
	Brazil		8,000			-		8,000			-
	Italy		-			2,000		-			2,000
	Pakistan		-			-		3,000			-
	Czech Republic		-			5,000		10,000			10,000

		$	8,000		$	20,000	$	54,000		$	83,000

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended		9 Months Ended		59 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Summary Of Significant Accounting Policies (Textual)	'	'	'	'	'
Cash and cash equivalents insured through December 31, 2013	$250,000	'	$250,000	'	$250,000
Cash and cash equivalents insured after December 31, 2013	100,000	'	100,000	'	100,000
Useful life of intangible assets	'	'	'15 years	'	'
Impairment of intangible asset	'	'	$161,000	'	$8,288,000

Inventory_Details

Inventory (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Summary of inventories relate to the SyntheMed business	'	'
Raw materials	$12	$12
Finished goods	'	21
Total inventories	$12	$33

Notes_Payable_Details

Notes Payable (Details) (USD $)	9 Months Ended				3 Months Ended			1 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2010	Sep. 30, 2013	Mar. 31, 2013	Mar. 31, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
		Breisgau BioVentures SA [Member]	Breisgau BioVentures SA [Member]	Mr. Joerg Gruber	Product liability insurance [Member]	Product liability insurance [Member]	Promissory Notes [Member]	Financing agreement one [Member]	Financing agreement two [Member]
								Directors' and officers' liability insurance premiums [Member]	Directors' and officers' liability insurance premiums [Member]
Notes Payable (Textual)	'	'	'	'	'	'	'	'	'
Investment ownership percentage by investor	'	'	52.50%	'	'	'	'	'	'
Interest rate on notes	'	'	6.00%	'	4.52%	4.52%	6.00%	3.45%	2.94%
Aggregate borrowed amount	'	$1,675,000	'	$100,000	'	'	$3,340,000	'	'
Aggregate principal amount requested for payment	1,365,000	'	'	'	'	'	'	'	'
Short term financing agreement amount covering premiums for product liability insurance	'	'	'	'	24,400	24,400	'	75,000	75,100
Notes, monthly installment paid	'	'	'	'	2,500	2,500	'	'	'
Interest portion in monthly installment	'	'	'	'	'	'	'	$7,600	$7,600
Monthly installments due period	'	'	'	'	'Through December 2013.	'Through December 2012.	'	'Through July 2013.	'Through July 2014

Longterm_payable_Details

Long-term payable (Details) (USD $)	9 Months Ended
Long-term payable (Details) (USD $)	Sep. 30, 2013	Jun. 30, 2013
Long-term payable (Textual)	'	'
Estimated rate of the Company's long term payable	10.00%	'
Long term payable	'	$250,000

Net_Loss_Per_Common_Share_Deta

Net Loss Per Common Share (Details)	9 Months Ended
Net Loss Per Common Share (Details)	Sep. 30, 2013
Net Loss Per Common Share (Textual)	'
Antidilutive common shares	26,678,000

Capital_Transaction_Details

Capital Transaction (Details) (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013
Summary of stock options activity	'
Outstanding at Beginning, Shares	20,950
Outstanding at Beginning, Weighted Average Exercise Price	$0.14
Outstanding at Beginning, Weighted Average Remaining Contractual Term	'3 years 3 months 18 days
Cancelled, expired or forfeited, Shares	548
Cancelled, expired or forfeited, Weighted Average Exercise Price	$0.35
Granted, Shares	'
Granted, Weighted Average Exercise Price	'
Granted, Weighted Average Remaining Contractual Term	'0 years
Outstanding at Ending, Shares	20,402
Outstanding at Ending, Weighted Average Exercise Price	$0.13
Outstanding at Ending, Weighted Average Remaining Contractual Term	'2 years 7 months 6 days
Outstanding at Ending, Aggregate Intrinsic Value	$0
Exercisable at September 30, 2013, Shares	20,052
Exercisable at September 30, 2013, Weighted Average Exercise Price	$0.13
Exercisable at September 30, 2013, Weighted Average Remaining Contractual Term	'2 years 7 months 6 days
Expected to vest after September 30, 2013, Shares	20,302
Expected to vest after September 30, 2013, Weighted Average Exercise Price	$0.13
Expected to vest after September 30, 2013, Weighted Average Remaining Contractual Term	'2 years 7 months 6 days
Expected to vest after September 30, 2013, Aggregate Intrinsic Value	$0

Capital_Transaction_Details_1

Capital Transaction (Details 1)	Sep. 30, 2013	Dec. 31, 2012
Summary of warrants	'	'
Outstanding , Options	20,402	20,950
Warrant [Member]	'	'
Summary of warrants	'	'
Outstanding , Options	6,276,306	'
Expire on September 30, 2016 [Member] \| Warrant [Member]	'	'
Summary of warrants	'	'
Outstanding , Options	6,276,306	'

Capital_Transaction_Details_Te

Capital Transaction (Details Textual) (USD $)	9 Months Ended
Capital Transaction (Details Textual) (USD $)	Sep. 30, 2013
Capital Transaction (Textual)	'
Unrecognized stock compensation related to unvested awards	$2,000
Expected period in which compensation cost recognized	'12 months
Charge recorded in general and administrative expense	$5,000
Stock option vested upon achievement of certain performance criteria	100,000
Term of options	'10 years
Exercise price of options	$0.80
Maximum number of shares purchasable by warrants outstanding	6,276,306
Expire on September 30, 2016 [Member]	'
Capital Transaction (Textual)	'
Exercise price of warrants having certain expiration period	$0.06
2006 Plan [Member]	'
Capital Transaction (Textual)	'
Number of shares authorized to purchase under stock option plan	25,000,000
Options available for grant	5,286,000
Period over which stock option is vested and expired	'Over a period not greater than five years, and expire no later than ten years from the date of grant.

Income_Taxes_Details

Income Taxes (Details)	9 Months Ended
Income Taxes (Details)	Sep. 30, 2013
Income Taxes (Textual)	'
Federal tax rate	3.28%

Nature_of_Business_Details

Nature of Business (Details) (USD $)	3 Months Ended		9 Months Ended		59 Months Ended
Nature of Business (Details) (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Revenue	'	'	'	'	'
Revenue	$8,000	$20,000	$54,000	$83,000	$241,000
United States [Member]	'	'	'	'	'
Revenue	'	'	'	'	'
Revenue	'	'	'	13,000	'
Russia [Member]	'	'	'	'	'
Revenue	'	'	'	'	'
Revenue	'	3,000	27,000	16,000	'
Columbia [Member]	'	'	'	'	'
Revenue	'	'	'	'	'
Revenue	'	'	'	14,000	'
Hong Kong [Member]	'	'	'	'	'
Revenue	'	'	'	'	'
Revenue	'	10,000	6,000	28,000	'
Brazil [Member]	'	'	'	'	'
Revenue	'	'	'	'	'
Revenue	8,000	'	8,000	'	'
Italy [Member]	'	'	'	'	'
Revenue	'	'	'	'	'
Revenue	'	2,000	'	2,000	'
Pakistan [Member]	'	'	'	'	'
Revenue	'	'	'	'	'
Revenue	'	'	3,000	'	'
Czech Republic [Member]	'	'	'	'	'
Revenue	'	'	'	'	'
Revenue	'	$5,000	$10,000	$10,000	'

Commitments_and_Other_Matters_

Commitments and Other Matters (Details)

3 Months Ended

9 Months Ended

59 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Apr. 30, 2013

Apr. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2011

Sep. 30, 2013

USD ($)

University of Glasgow Agreement [Member]

MGH Agreement [Member]

Yissum Agreement [Member]

Dizerega Agreement [Member]

Employment Agreement [Member]

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

Commitments and Other Matters (Textual)

Payment of royalty ranging on sales minimum (in percentage)

1.50%

10.00%

Payment of royalty ranging on sales Maximum (in percentage)

3.00%

20.00%

Additional payment of royalty ranging on sales (in percentage)

3.00%

Obligation of cumulative payment under license agreement term

$12,000,000

$15,000,000

Number of years for agreement termination from the date of the first commercial sale of a product

'15 years

Cost of extended research period

332,000

205,000

700,000

432,000

Extended research period

'Over the course of the twelve months.

Expenses incurred on research program

83,000

179,000

330,000

510,000

Product sales

8,000

20,000

54,000

83,000

241,000

15,000,000

Cash payment in exchange under agreement.

150,000

Impairment of intangible asset

161,000

8,288,000

Common stock issued to affiliates

1,000,000

Percentage of royalty

1.00%

Agreement expiry date

'September 2014.

Agreement renewal period

'1 year

Cash severance benefits

28,000

Annual salary obligation

$113,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	9 Months Ended
Related Party Transactions (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2011
Related Party Transactions (Textual)	'	'
Full Compensation entitled to receive by directors other than Dr. Franklin and Mr. Gruber	$20,000	'
Dr. Franklin [Member]	'	'
Related Party Transactions (Textual)	'	'
Payment of consulting fee	10,000	'
Consulting fee before reduction	15,000	'
Breisgau BioVenures SA [Member]	'	'
Related Party Transactions (Textual)	'	'
Aggregate principal amount	'	1,357,000
Investment ownership percentage by investor	'	52.50%
Additional amount borrowed	$1,675,000	'
University of Glasgow [Member]	'	'
Related Party Transactions (Textual)	'	'
Investment ownership percentage by investor	9.50%	'
Dr. Shiels [Member]	'	'
Related Party Transactions (Textual)	'	'
Investment ownership percentage by investor	5.70%	'
Dr. Davies [Member]	'	'
Related Party Transactions (Textual)	'	'
Investment ownership percentage by investor	3.80%	'

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], USD $)	Sep. 30, 2013
Subsequent Event [Member]	'
Subsequent Events (Textual)	'
Aggregate borrowed amount from Breisgau BioVentures SA	$135,000