Pathfinder Cell Therapy (PFND) Inactive 10-Q14 Aug 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2014
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-Jun-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q2
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		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue	'	'	'	'
Product sales	'	$18	'	$46
Revenue	'	18	'	46
Cost of goods sold	'	8	'	20
Gross profit	'	10	'	26
Operating expenses:	'	'	'	'
Research and development	65	125	183	353
General and administrative	200	211	500	530
Sales and marketing	'	5	5	14
Impairment of intangible asset	'	161	'	161
Operating expenses	265	502	688	1,058
Loss from operations before other income / (expense)	-265	-492	-688	-1,032
Other income/(expense):	'	'	'	'
Interest (expense), net	-67	-48	-129	-89
Termination of license agreement	'	250	'	250
Other income/(expense)	-67	202	-129	161
Net loss	($332)	($290)	($817)	($871)
Net loss per common share-basic and diluted	$0	$0	$0	$0
Weighted average shares outstanding	667,162	667,162	667,162	667,162

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Current assets:	'	'
Cash	$21	$44
Prepaid expenses	18	75
Total current assets	39	119
Intangible, net of accumulated amortization	34	36
TOTAL	73	155
Current liabilities:	'	'
Accounts payable	227	190
Accrued expenses (including related party amount of $338 and $312, respectively)	638	527
Insurance note payable	'	45
Note payable - Clubb Capital	244	244
Convertible notes payable (including related party amount of $2,765 and $2,135, respectively)	4,330	3,700
Total current liabilities	5,439	4,706
Commitments and other matters (Note I)	'	'
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 June 30, 2014 and December 31, 2013	667	667
Additional paid-in capital	11,830	11,828
Accumulated deficit	-17,863	-17,046
Total capital deficit	-5,366	-4,551
TOTAL	$73	$155

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Balance Sheet [Abstract]	'	'
Related party amount of accrued expenses	$338	$312
Related party of convertible notes payable	$2,765	$2,135
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 Deficit
In Thousands, except Share data	Total	Common Stock	Additional Paid In Capital	Accumulated Deficit
Beginning Balance at Dec. 31, 2013	($4,551)	$667	$11,828	($17,046)
Beginning Balance, shares at Dec. 31, 2013	'	667,162	'	'
Stock-based Compensation	2	'	2	'
Net Loss	-817	'	'	-817
Balance at Jun. 30, 2014	($5,366)	$667	$11,830	($17,863)
Balance, shares at Jun. 30, 2014	'	667,162	'	'

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net loss	($817)	($871)
Adjustments to reconcile net loss to Net cash used in operating activities:	'	'
Depreciation and amortization	2	9
Stock based compensation relating to options	2	3
Goodwill / intangible impairment loss	'	161
Reversal of liability	'	-250
Accretion of long term liability	'	8
Changes in operating assets and liabilities:	'	'
Decrease in accounts receivable	'	28
Decrease in inventory	'	18
Decrease in prepaid expenses	57	63
Increase in accounts payable	37	112
Increase (decrease) in accrued expenses	111	-172
Net cash used in operating activities	-608	-891
Cash flows from financing activities:	'	'
Payments of insurance note payable	-45	-55
Proceeds from convertible notes payable	630	1,005
Net cash provided by financing activities	585	950
Net increase (decrease) in cash	-23	59
Cash at beginning of period	44	9
Cash at end of period	21	68
Supplementary disclosure of non-cash investing and financing activities:	'	'
Financing of insurance premiums through notes payable	'	$25

Basis_of_Presentation_and_Goin

Basis of Presentation and Going Concern	6 Months Ended
	Jun. 30, 2014
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, 2013 included in the Company’s Annual Report on Form 10-K.



	The Company is a 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 June 30, 2014, 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 June 30, 2015 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, 2013 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	6 Months Ended
	Jun. 30, 2014
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, the 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



	The Company deposits cash with high credit quality financial institutions and believe any amounts in excess of insurance limitations to be at minimal risk. Cash held in these accounts are insured by the Federal Deposit Insurance Corporation up to an unlimited amount through December 31, 2012 and a maximum of $250,000, thereafter.



	Intangible Assets



	Intangible assets are amortized using the straight-line method over the estimated useful life of 15 years, which is based upon management’s timelines for the typical development, approval, and marketing and life cycle of pharmaceutical drug products.



	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 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. For options with graded vesting, the Company values the stock option grants and recognizes compensation expense as if each vesting portion of the award was a separate award. The impact of forfeitures that may occur prior to vesting is also estimated and considered in the amount of expense recognized. 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. The Company considers estimated future taxable income or loss and other available evidence when assessing the need for its deferred tax valuation allowance.



	Fair Value



The carrying amounts of cash, accounts payable, accrued expenses and notes payable approximate fair value based on their short-term maturity.



Research and development



All research and development activities, including any preclinical and clinical studies and product development activities, are outsourced (see Note I). 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.



Reclassification:



Certain reclassifications have been made to prior year balances to conform to the current year’s presentation.



Recent Accounting Pronouncement Adopted:



During the quarter ended June 30, 2014, the Company adopted Accounting Standards Update (ASU) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”, which was issued in June 2014. The ASU is effective for annual reporting periods beginning after December 15, 2014, (and interim periods therein) with early adoption allowed. The amendments in this ASU eliminate the concept of a development stage entity from GAAP and removes the related incremental financial reporting requirements. Accordingly, the Company is no longer presenting cumulative inception-to-date along with their current period amounts in its statements of operations and cash flows.

Inventory

Inventory	6 Months Ended
Inventory	Jun. 30, 2014
Inventory [Abstract]	'
Inventory	'
	C)	Inventory



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



			June 30,			December 31,
			2014			2013

	Raw materials		$	13,000		$	13,000
	Finished goods			-			-
			$	13,000		$	13,000
	Slow moving and obsolete inventories			(13,000	)		(13,000	)
			$	0		$	0

Notes_Payable

Notes Payable	6 Months Ended
	Jun. 30, 2014
Notes Payable [Abstract]	'
Notes Payable	'
	D)	Notes Payable



	[1] Convertible Notes Payable:



	From time to time since February 2012, the Company borrowed from investors an aggregate of $4,330,000 principal amount pursuant to promissory notes bearing interest at 6% per annum, all of which remained outstanding as of June 30, 2014. Of such amounts, $100,000 was invested by Mr. Joerg Gruber and $2,365,000 was invested by Breisgau Bio Ventures SA. Principal and interest are due and payable on the first anniversary of issuance. None of the holders whose notes have matured, aggregating $2,970,000 in principal amount as of June 30, 2014 have requested payment. At any time prior to completion or termination of the capital raise the initial closing of which occurred in connection with the reverse acquisition of our Company by Pathfinder, LLC in September 2011, 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



	[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 were paid through July 2014 and carried an interest rate of 2.94% per annum.

Net_Loss_Per_Common_Share

Net Loss Per Common Share	6 Months Ended
	Jun. 30, 2014
Net Loss Per Common Share [Abstract]	'
Net Loss Per Common Share	'
	E)	Net Loss Per Common Share



	Basic and diluted net loss per common share is computed using the weighted average number of shares outstanding at June 30, 2014 and excludes 26,585,000 common shares potentially issuable upon the exercise of outstanding options and warrants since their inclusion would have been anti-dilutive.

Capital_Transaction

Capital Transaction

6 Months Ended

Jun. 30, 2014

Capital Transaction [Abstract]

Capital Transaction

[1] Stock based compensation:

At June 30, 2014, 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 June 30, 2014, 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 three month periods ended June 30, 2014 and 2013, respectively.

The following summarizes the activities of the Company’s stock options for the six months ended June 30, 2014 (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, 2014

20,402

0.13

2.4 Years

Cancelled, expired or forfeited

0.36

Granted

Outstanding at June 30, 2014

20,309

0.13

1.9 Years

Exercisable at June 30, 2014

19,959

0.13

1.8 Years

Expected to vest after June 30, 2014

20,209

0.13

1.9 Years

As of June 30, 2014, there was approximately $1,000 of unrecognized stock compensation related to unvested awards (net of estimated forfeitures) expected to be recognized over the next three months.

The Company has recorded a charge of $2,000 in general and administrative expense for the six months ended June 30, 2014 for the pro-rata share of the fair value of the unvested options granted during September 2011 that vest through September 2014.

At June 30, 2014, 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 June 30, 2014, 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	6 Months Ended
	Jun. 30, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	G)	Income Taxes



	At June 30, 2014 and December 31, 2013, 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.



	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 will be the value of the equity times the prescribed federal rate at September 30, 2011 of 3.86%.



	As of June 30, 2014, the Company has not recorded any provisions for accrued interest and penalties related to uncertain tax positions.



	By statute, tax years 2010 through 2013 remain open to examination by the major taxing jurisdictions to which the Company is subject.

Nature_of_Business

Nature of Business	6 Months Ended
Nature of Business	Jun. 30, 2014
Nature of Business [Abstract]	'
Nature of Business	'
	H)	Nature of Business



	The Company’s revenue from the sale of REPEL-CV for the periods ended June 30, 2014 and 2013 was as follows:



	Geographic Information



			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2014		2013		2014		2013
			Revenues				Revenues

	Russia		$	-	$	18,000	$	-	$	27,000
	Hong Kong			-		-		-		6,000
	Pakistan			-		-		-		3,000
	Czech Republic			-		-		-		10,000

			$	-	$	18,000	$	-	$	46,000



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

Commitments_and_Other_Matters

Commitments and Other Matters	6 Months Ended
	Jun. 30, 2014
Commitments and Other Matters [Abstract]	'
Commitments and Other Matters	'
	I)	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 April 2013, the parties extended the research period for an additional twelve-month period through March 2014 at a cost of approximately GBP 205,000 (approximately $349,000 based on exchange rates in effect on June 30, 2014). The Company is currently negotiating an additional twelve-month extension through March 2015. Under these agreements, the Company recorded an expense for the three and six month periods ended June 30, 2014 of $2,000 and $91,000, compared to $81,000 and $247,000 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 three and six month periods ended June 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 legacy 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 polymer technology related to the legacy SyntheMed business 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 June 30, 2014, 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 $29,000 at June 30, 2014. Effective January 1, 2014, the Company’s annual salary obligation is $114,000.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	J)	Related Party Transactions



	Mr. Gruber, the Company’s Chairman, is Chairman and a director of Clubb Capital Limited, the placement agent for the capital raise described in Note D[1]. Each of our directors, other than Dr. Franklin, is 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 $25,000.



	At June 30, 2014, the Company had borrowed an aggregate $2,365,000 principal amount from Breisgau BioVentures SA. and $100,000 from Mr. Gruber. 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, LLC under the terms of a license agreement between the university and Pathfinder, LLC. 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 June 30, 2014, 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	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	K)	Subsequent Events



	Subsequent to June 30, 2014, the Company borrowed an additional aggregate principal amount of $50,000 from an investor 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)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2014
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, the 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	'

	Cash



	The Company deposits cash with high credit quality financial institutions and believe any amounts in excess of insurance limitations to be at minimal risk. Cash held in these accounts are insured by the Federal Deposit Insurance Corporation up to an unlimited amount through December 31, 2012 and a maximum of $250,000, thereafter.
Intangible Assets	'

	Intangible Assets



	Intangible assets are amortized using the straight-line method over the estimated useful life of 15 years, which is based upon management’s timelines for the typical development, approval, and marketing and life cycle of pharmaceutical drug products.
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 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. For options with graded vesting, the Company values the stock option grants and recognizes compensation expense as if each vesting portion of the award was a separate award. The impact of forfeitures that may occur prior to vesting is also estimated and considered in the amount of expense recognized. 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. The Company considers estimated future taxable income or loss and other available evidence when assessing the need for its deferred tax valuation allowance.
Fair value	'

	Fair Value



	The carrying amounts of cash, accounts payable, accrued expenses and notes payable approximate fair value based on their short-term maturity.
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 I). 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.
Reclassification	'

	Reclassification:



	Certain reclassifications have been made to prior year balances to conform to the current year’s presentation.
Recent Accounting Pronouncement Adopted:	'

	Recent Accounting Pronouncement Adopted:



	During the quarter ended June 30, 2014, the Company adopted Accounting Standards Update (ASU) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”, which was issued in June 2014. The ASU is effective for annual reporting periods beginning after December 15, 2014, (and interim periods therein) with early adoption allowed. The amendments in this ASU eliminate the concept of a development stage entity from GAAP and removes the related incremental financial reporting requirements. Accordingly, the Company is no longer presenting cumulative inception-to-date along with their current period amounts in its statements of operations and cash flows.

Inventory_Tables

Inventory (Tables)	6 Months Ended
Inventory (Tables)	Jun. 30, 2014
Inventory [Abstract]	'
Summary of inventories relate to the SyntheMed business	'



		June 30,			December 31,
		2014			2013

	Raw materials	$	13,000		$	13,000
	Finished goods		-			-
		$	13,000		$	13,000
	Slow moving and obsolete inventories		(13,000	)		(13,000	)
		$	0		$	0

Capital_Transaction_Tables

Capital Transaction (Tables)	6 Months Ended
Capital Transaction (Tables)	Jun. 30, 2014
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, 2014		20,402	$	0.13	2.4 Years
	Cancelled, expired or forfeited		93		0.36
	Granted		-		-	-
	Outstanding at June 30, 2014		20,309	$	0.13	1.9 Years	$	0
	Exercisable at June 30, 2014		19,959	$	0.13	1.8 Years

	Expected to vest after June 30, 2014		20,209	$	0.13	1.9 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)	6 Months Ended
Nature of Business (Tables)	Jun. 30, 2014
Nature of Business [Abstract]	'
Summary of company's revenues	'
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
		Revenues				Revenues

	Russia	$	-	$	18,000	$	-	$	27,000
	Hong Kong		-		-		-		6,000
	Pakistan		-		-		-		3,000
	Czech Republic		-		-		-		10,000

		$	-	$	18,000	$	-	$	46,000

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	6 Months Ended
	Jun. 30, 2014
Summary Of Significant Accounting Policies (Textual)	'
Cash and cash equivalents insured through December 31, 2012	$250,000
Useful life of intangible assets	'15 years

Inventory_Details

Inventory (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Summary of inventories relate to the SyntheMed business	'	'
Raw materials	$13,000	$13,000
Finished goods	'	'
Inventory, Gross	13,000	13,000
Slow moving and obsolete inventories	-13,000	-13,000
Total inventories	$0	$0

Notes_Payable_Details

Notes Payable (Details) (USD $)	6 Months Ended				1 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Sep. 30, 2013
		Breisgau BioVentures SA [Member]	Mr. Joerg Gruber	Promissory Notes [Member]	Financing agreement two [Member]
					Directors' and officers' liability insurance premiums [Member]
Notes Payable (Textual)	'	'	'	'	'
Investment by investor	'	$2,365,000	$100,000	'	'
Interest rate on notes	'	'	'	6.00%	2.94%
Aggregate borrowed amount	50,000	'	'	4,330,000	'
Aggregate principal amount requested for payment	2,970,000	'	'	'	'
Short term financing agreement amount covering premiums for product liability insurance	'	'	'	'	75,100
Notes, monthly installment paid	'	'	'	'	$7,600
Monthly installments due period	'	'	'	'	'Through July 2014

Net_Loss_Per_Common_Share_Deta

Net Loss Per Common Share (Details)	6 Months Ended
Net Loss Per Common Share (Details)	Jun. 30, 2014
Net Loss Per Common Share (Textual)	'
Antidilutive common shares	26,585,000

Capital_Transaction_Details

Capital Transaction (Details) (USD $)	6 Months Ended
Capital Transaction (Details) (USD $)	Jun. 30, 2014
Summary of stock options activity	'
Outstanding at Beginning, Shares	20,402
Outstanding at Beginning, Weighted Average Exercise Price	$0.13
Outstanding at Beginning, Weighted Average Remaining Contractual Term	'2 years 4 months 24 days
Cancelled, expired or forfeited, Shares	93
Cancelled, expired or forfeited, Weighted Average Exercise Price	$0.36
Granted, Shares	'
Granted, Weighted Average Exercise Price	'
Granted, Weighted Average Remaining Contractual Term	'0 years
Outstanding at Ending, Shares	20,309
Outstanding at Ending, Weighted Average Exercise Price	$0.13
Outstanding at Ending, Weighted Average Remaining Contractual Term	'1 year 10 months 24 days
Outstanding at Ending, Aggregate Intrinsic Value	$0
Exercisable at June 30, 2014, Shares	19,959
Exercisable at June 30, 2014, Weighted Average Exercise Price	$0.13
Exercisable at June 30, 2014, Weighted Average Remaining Contractual Term	'1 year 9 months 18 days
Expected to vest after June 30, 2014, Shares	20,209
Expected to vest after June 30, 2014, Weighted Average Exercise Price	$0.13
Expected to vest after June 30, 2014, Weighted Average Remaining Contractual Term	'1 year 10 months 24 days
Expected to vest after June 30, 2014, Aggregate Intrinsic Value	$0

Capital_Transaction_Details_1

Capital Transaction (Details 1)	Jun. 30, 2014	Dec. 31, 2013
Summary of warrants	'	'
Outstanding , Options	20,309	20,402
Warrant [Member]	'	'
Summary of warrants	'	'
Outstanding , Options	6,276,306	'
Expire on September 30, 2016 [Member]	'	'
Summary of warrants	'	'
Outstanding , Options	6,276,306	'

Capital_Transaction_Details_Te

Capital Transaction (Details Textual) (USD $)	6 Months Ended
Capital Transaction (Details Textual) (USD $)	Jun. 30, 2014
Capital Transaction (Textual)	'
Unrecognized stock compensation related to unvested awards	$1,000
Expected period in which compensation cost recognized	'3 months
Charge recorded in general and administrative expense	$2,000
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)	6 Months Ended
Income Taxes (Details)	Jun. 30, 2014
Income Taxes (Textual)	'
Federal tax rate	3.86%

Nature_of_Business_Details

Nature of Business (Details) (USD $)	3 Months Ended		6 Months Ended
Nature of Business (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue	'	'	'	'
Revenue	'	$18,000	'	$46,000
Russia [Member]	'	'	'	'
Revenue	'	'	'	'
Revenue	'	18,000	'	27,000
Hong Kong [Member]	'	'	'	'
Revenue	'	'	'	'
Revenue	'	'	'	6,000
Pakistan [Member]	'	'	'	'
Revenue	'	'	'	'
Revenue	'	'	'	3,000
Czech Republic [Member]	'	'	'	'
Revenue	'	'	'	'
Revenue	'	'	'	$10,000

Commitments_and_Other_Matters_

Commitments and Other Matters (Details)

3 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Apr. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2011

Jun. 30, 2014

USD ($)

University of Glasgow Agreement [Member]

MGH Agreement [Member]

Yissum Agreement [Member]

Dizerega Agreement [Member]

Employment Agreement [Member]

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

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

'15 years

Cost of extended research period

349,000

205,000

Extended research period

'Over the course of the twelve months.

Expenses incurred on research program

2,000

81,000

91,000

247,000

Cash payment in exchange under agreement.

150,000

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

29,000

Annual salary obligation

114,000

Impairment of intangible asset

161,000

Net sales of product sales

18,000

46,000

15,000,000

Sales revenue technology net

$15,000,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	6 Months Ended
Related Party Transactions (Details) (USD $)	Jun. 30, 2014
Dr. Franklin [Member]	'
Related Party Transactions (Textual)	'
Consulting fee before reduction	$25,000
Breisgau BioVenures SA [Member]	'
Related Party Transactions (Textual)	'
Company aggregate borrowings	2,365,000
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%
Mr. Gruber [Member]	'
Related Party Transactions (Textual)	'
Company aggregate borrowings	$100,000

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	Jun. 30, 2014
Subsequent Events (Textual)	'
Aggregate borrowed amount from an investor	$50,000