Pathfinder Cell Therapy (PFND) 10-Q 13 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Document and Entity Information [Abstract]
Entity Registrant Name	Pathfinder Cell Therapy, Inc.
Entity Central Index Key	889,428
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	667,160,870

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating expenses:
Research and development	$ 28	$ 65	$ 41	$ 183
General and administrative	$ 116	$ 200	$ 307	500
Sales and marketing				5
Operating expenses	$ 144	$ 265	$ 348	688
Loss from operations before other expense	(144)	(265)	(348)	(688)
Other expense:
Interest expense	(78)	(67)	(150)	(129)
Net loss	$ (222)	$ (332)	$ (498)	$ (817)
Net loss per common share-basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average shares outstanding	667,161	667,161	667,161	667,161

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash		$ 26
Prepaid expenses	$ 18	47
Total current assets	18	73
Intangible, net of accumulated amortization	31	33
TOTAL	49	106
Current liabilities:
Accounts payable	323	229
Accrued expenses (including related party amount of $464 and $385, respectively)	936	837
Insurance note payable	5	34
Note payable - Clubb Capital	244	244
Convertible notes payable (including related party amount of $2,612 and $2,465, respectively)	4,982	4,705
Total current liabilities	$ 6,490	$ 6,049
Commitments and other matters (Note G)
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 - 667,161 at June 30, 2015 and December 31, 2014, respectively	$ 667	$ 667
Additional paid-in capital	11,830	11,830
Accumulated deficit	(18,938)	(18,440)
Total capital deficit	(6,441)	(5,943)
TOTAL	$ 49	$ 106

Condensed Consolidated Balance4

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Balance Sheet [Abstract]
Related party amount of accrued expenses	$ 464	$ 385
Related party of convertible notes payable	$ 2,612	$ 2,465
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	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000	1,000,000
Common stock, shares issued	667,161	667,161
Common stock, shares outstanding	667,161	667,161

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Changes in Stockholders Equity (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Loss
Beginning Balance at Dec. 31, 2014	$ (5,943)	$ 667	$ 11,830	$ (18,440)
Beginning Balance, shares at Dec. 31, 2014		667,161
Net Loss	(498)			(498)
Balance at Jun. 30, 2015	$ (6,441)	$ 667	$ 11,830	$ (18,938)
Balance, shares at Jun. 30, 2015		667,161

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (498)	$ (817)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization	$ 2	2
Stock based compensation relating to options		2
Changes in operating assets and liabilities:
Decrease in prepaid expenses	$ 29	57
Increase in accounts payable	94	37
Increase in accrued expenses	99	111
Net cash used in operating activities	(274)	(608)
Cash flows from financing activities:
Payments of insurance note payable	(29)	(45)
Proceeds from convertible notes payable	277	630
Net cash provided by financing activities	248	585
Net decrease in cash	(26)	(23)
Cash at beginning of period	$ 26	44
Cash at end of period		$ 21

Basis of Presentation and Going

Basis of Presentation and Going Concern	6 Months Ended
	Jun. 30, 2015
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, 2014 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, 2015, the Company does not have sufficient cash on hand to meet the Company’s anticipated cash requirements through June 30, 2016 based on its present plan of operations. Accordingly, the Company will seek additional funds, which is anticipated to be in the form of equity and/or debt issuances. No assurance can be given that additional financing will be available to the Company on acceptable terms or at all. These conditions and events raise substantial doubt about the Company’s ability 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, 2014 contains an explanatory paragraph referring to a substantial doubt concerning the Company’s ability to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
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 the useful lives of intangible assets 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 expenses during the reporting period. Actual results could differ from those estimates. Cash The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. The Company deposits cash with high credit quality financial institutions and believes 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 a maximum of $250,000. 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 G). 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.

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2015
Notes Payable [Abstract]
Notes Payable	C) Notes Payable [1] Convertible Notes Payable: At June 30, 2015, $4,982,000 in aggregate principal amount of promissory notes bearing interest at 6% per annum was outstanding. The Company has included an accrual of approximately $634,000 for unpaid accrued interest, and such amount is included in Accrued Expenses in the accompanying condensed consolidated balance sheet. Of such principal amounts, $100,000 was invested by Mr. Joerg Gruber and $2,512,000 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 $4,330,000 in principal amount as of June 30, 2015, has requested payment. At any time prior to completion or termination of the Company’s equity capital raise the initial closing of which occurred at the time of the Company’s business combination with 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 October 2014, the Company entered into a short term financing agreement for our directors’ and officers’ liability insurance premium totaling $49,000 and payable in monthly installments including interest of $5,000. The monthly installments are due through August 2015 and carry an interest rate of 3.72% per annum. 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.

Net Loss Per Common Share

Net Loss Per Common Share	6 Months Ended
	Jun. 30, 2015
Net Loss Per Common Share [Abstract]
Net Loss Per Common Share	D) 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, 2015 and June 30, 2014 and excludes 23,510,000 and 26,585,000, respectively, 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, 2015
Capital Transaction [Abstract]
Capital Transaction	E) Capital Transaction [1] Stock based compensation: At June 30, 2015, 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, 2015, there were 8,361,000 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 six month periods ended June 30, 2015 and 2014, respectively. The following summarizes the activities of the Company’s stock options for the six months ended June 30, 2015 (shares in thousands): Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Number of shares under option plans: Outstanding at January 1, 2015 17,971 $ 0.14 1.6 Years Cancelled, expired or forfeited 738 0.62 Granted - - - Outstanding at June 30, 2015 17,233 $ 0.12 1.0 Years $ 0 Exercisable at June 30, 2015 17,133 $ 0.12 1.0 Years Vested and expected to vest at June 30, 2015 17,133 $ 0.12 1.0 Years $ 0 As of June 30, 2015, all stock compensation related to outstanding awards has been recognized. 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 vested through September 2014. There was no charge recorded for the current year period. At June 30, 2015, 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, 2015, 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, 2015
Income Taxes [Abstract]
Income Taxes	F) Income Taxes At June 30, 2015 and December 31, 2014, 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, 2015, the Company has not recorded any provisions for accrued interest and penalties related to uncertain tax positions. By statute, tax years 2011 through 2014 remain open to examination by the major taxing jurisdictions to which the Company is subject.

Commitments and Other Matters

Commitments and Other Matters	6 Months Ended
	Jun. 30, 2015
Commitments and Other Matters [Abstract]
Commitments and Other Matters	G) 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 $338,000 based on exchange rates in effect on December 31, 2013), payable by the Company over the course of the twelve months. Following expiration of the research period in March 2014, the Company had been operating under a cost free extension to the research agreement through August 2014. The Company continues to evaluate the potential renewal and terms of future research to be conducted at the University. 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. There was no comparable amount for the current year periods. [2] 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. [3] 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. [4] Employment Agreement At June 30, 2015, the Company had an employment agreement with one individual that is scheduled to expire in September 2015, 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 $21,000 at June 30, 2015 and the Company’s annual salary obligation for 2015 is $82,000.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	H) Related Party Transactions Dr. Franklin, the Company’s CEO and President, is entitled to a monthly consulting fee. From August 2012 through February 2015, Dr. Franklin’s compensation had been $120,000 per year. Effective March 1, 2015, Dr. Franklin’s annual compensation was reduced to $60,000, and in May 2015 Dr. Franklin agreed to defer payment of his consulting fee through the end of 2015. Mr. Gruber, the Company’s Chairman, is Chairman and a director of Clubb Capital Limited, the placement agent for the capital raise referred to in Note C[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, payable quarterly in arrears, of $20,000. In May 2015, our directors agreed to defer payment of such compensation through the end of the year. At June 30, 2015, the Company had borrowed an aggregate $2,512,000 principal amount from Breisgau BioVentures SA and $100,000 from Mr. Gruber. See Note C[1]. The Company’s core technology was originally derived from research conducted at the University of Glasgow. The Company relies on the University of Glasgow as well as third party laboratories for its research and development activities, all of which is funded by the Company. Intellectual property resulting from activities conducted at the University of Glasgow is owned by the university and licensed to the Company under the terms of a license agreement between the university and the Company. 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 assisted with the Company’s research and development program through the university and effective April, 2014 he provides scientific consulting services to us pursuant to a separate agreement. Under the agreement we pay Dr. Shiels an annual compensation of GBP 30,000 (approximately $47,000 based on exchange rates in effect on June 30, 2015). Dr. Shiels and Dr. Davies beneficially own 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, 2015
Subsequent Events [Abstract]
Subsequent Events	I) Subsequent Events Subsequent to June 30, 2015, the Company borrowed an additional aggregate principal amount of $75,000 from Breisgau BioVentures SA. The principal balance (together with accrued interest thereon at the rate of 6% per annum) becomes due and payable on the first anniversary of issuance. See Note C[1].

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
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 the useful lives of intangible assets 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 expenses during the reporting period. Actual results could differ from those estimates.
Cash	Cash The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. The Company deposits cash with high credit quality financial institutions and believes 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 a maximum of $250,000.
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 G). 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.

Capital Transaction (Tables)

Capital Transaction (Tables)	6 Months Ended
	Jun. 30, 2015
Capital Transaction [Abstract]
Summary of stock options activity	Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Number of shares under option plans: Outstanding at January 1, 2015 17,971 $ 0.14 1.6 Years Cancelled, expired or forfeited 738 0.62 Granted - - - Outstanding at June 30, 2015 17,233 $ 0.12 1.0 Years $ 0 Exercisable at June 30, 2015 17,133 $ 0.12 1.0 Years Vested and expected to vest at June 30, 2015 17,133 $ 0.12 1.0 Years $ 0
Summary of warrants	6,276,306 exercisable at $0.055 per share which expire on September 30, 2016 6,276,306

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Details) - Jun. 30, 2015 - USD ($)	Total
Summary of significant accounting policies (Textual)
Cash and cash equivalents insured by Federal Deposit Insurance Corporation	$ 250,000
Useful life of intangible assets	15 years

Notes Payable (Details)

Notes Payable (Details) - USD ($)	1 Months Ended
	Oct. 31, 2014	Sep. 30, 2013	Jun. 30, 2015
Notes Payable (Textual)
Promissory notes, interest rate			6.00%
Breisgau BioVentures SA [Member]
Notes Payable (Textual)
Promissory notes, amount borrowed from investors			$ 2,512,000
Mr. Joerg Gruber
Notes Payable (Textual)
Promissory notes, amount borrowed from investors			$ 100,000
Directors' and officers' liability insurance premiums [Member]
Notes Payable (Textual)
Promissory notes, interest rate	3.72%	2.94%
Short term financing agreement, amount	$ 49,000	$ 75,100
Short term financing agreement, monthly installments	$ 5,000	$ 7,600
Short term financing agreement, monthly installments payment terms	The monthly installments are due through August 2015	The monthly installments are due through July 2014
Convertible Notes Payable [Member]
Notes Payable (Textual)
Promissory notes, interest rate			6.00%
Promissory notes, amount borrowed from investors			$ 4,982,000
Accrued interest			634,000
Convertible note principal amount outstanding			$ 4,330,000

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Net loss per common share (Textual)
Antidilutive common shares	23,510,000	26,585,000

Capital Transaction (Details)

Capital Transaction (Details) - 6 months ended Jun. 30, 2015 - USD ($) $ / shares in Units, shares in Thousands	Total
Summary of stock options activity
Outstanding at Beginning, Shares	17,971
Outstanding at Beginning, Weighted Average Exercise Price	$ 0.14
Outstanding at Beginning, Weighted Average Remaining Contractual Term	1 year 6 months
Cancelled, expired or forfeited, Shares	738
Cancelled, expired or forfeited, Weighted Average Exercise Price	$ 0.62
Granted, Shares
Granted, Weighted Average Exercise Price
Granted, Weighted Average Remaining Contractual Term
Outstanding at Ending, Shares	17,233
Outstanding at Ending, Weighted Average Exercise Price	$ 0.12
Outstanding at Ending, Weighted Average Remaining Contractual Term	1 year
Outstanding at Ending, Aggregate Intrinsic Value	$ 0
Exercisable at June 30, 2015, Shares	17,133
Exercisable at June 30, 2015, Weighted Average Exercise Price	$ 0.12
Exercisable at June 30, 2015, Weighted Average Remaining Contractual Term	1 year
Vested and expected to vest at June 30, 2015, Shares	17,133
Vested and expected to vest at June 30, 2015, Weighted Average Exercise Price	$ 0.12
Vested and expected to vest at June 30, 2015, Weighted Average Remaining Contractual Term	1 year
Vested and expected to vest at June 30, 2015, Aggregate Intrinsic Value	$ 0

Capital Transaction (Details 1)

Capital Transaction (Details 1) - Warrant [Member] shares in Thousands	Jun. 30, 2015shares
Summary of warrants
Warrant outstanding	6,276,306
Expire on September 30, 2016 [Member]
Summary of warrants
Warrant outstanding	6,276,306

Capital Transaction (Details Te

Capital Transaction (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Capital Transaction (Textual)
Charge recorded in general and administrative expense	$ 2,000
Stock option outstanding	17,233,000	17,971,000
Exercise price of options	$ 0.12	$ 0.14
Maximum number of shares purchasable by warrants outstanding	6,276,306
Warrants execrise price	$ 0.055
Warrants expiration date	Sep. 30, 2016
2006 Stock Option Plan [Member]
Capital Transaction (Textual)
Number of shares authorized to purchase under stock option plan	25,000,000
Options available for grant	8,361,000
Options vesting and expiration terms	Over a period not greater than five years, and expire no later than ten years from the date of grant.
Performance Shares [Member]
Capital Transaction (Textual)
Stock option outstanding	100,000
Term of options	10 years
Exercise price of options	$ 0.80

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2015
Income Taxes (Textual)
Federal tax rate	3.86%

Commitments and Other Matters (

Commitments and Other Matters (Details)	1 Months Ended			3 Months Ended	6 Months Ended
	Apr. 30, 2013USD ($)	Apr. 30, 2013GBP (£)	Dec. 31, 2011USD ($)shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Commitments and Other Matters (Textual)
Useful life of intangible assets					15 years
University of Glasgow Agreement [Member]
Commitments and Other Matters (Textual)
Payment of royalty ranging on sales, minimum (in percentage)					1.50%
Payment of royalty ranging on sales, Maximum (in percentage)					3.00%
Roayalty commitment, maximum amount					$ 12,000,000
Useful life of intangible assets					15 years
Research cost and expense	$ 338,000	£ 205,000		$ 2,000		$ 91,000
Yissum Agreement [Member]
Commitments and Other Matters (Textual)
Cash payment in exchange under agreement.			$ 150,000
Common stock issued to affiliates | shares			1,000,000
Employment Agreement [Member]
Commitments and Other Matters (Textual)
Agreement expiry date					September 2,015
Agreement renewal period					1 year
Cash severance benefits					$ 21,000
Annual salary obligation					$ 82,000

Related Party Transactions (Det

Related Party Transactions (Details) - Jun. 30, 2015	USD ($)	GBP (£)
Related Party Transactions (Textual)
Directors compensation for services	$ 20,000
Dr. Franklin [Member]
Related Party Transactions (Textual)
Directors compensation for services	120,000
Annual compensation reduced amount	$ 60,000
University of Glasgow [Member]
Related Party Transactions (Textual)
Investment ownership percentage by investor	9.50%
Dr. Shiels [Member]
Related Party Transactions (Textual)
Directors compensation for services	$ 47,000	£ 30,000
Investment ownership percentage by investor	5.70%
Mr. Joerg Gruber
Related Party Transactions (Textual)
Aggregate borrowed amount from an investor	$ 100,000
Dr. Davies [Member]
Related Party Transactions (Textual)
Investment ownership percentage by investor	3.80%
Breisgau BioVentures SA [Member]
Related Party Transactions (Textual)
Aggregate borrowed amount from an investor	$ 2,512,000

Subsequent Events (Details)

Subsequent Events (Details) - Jun. 30, 2015 - USD ($)	Total
Subsequent Events (Textual)
Debt interest rate	6.00%
Breisgau BioVentures SA [Member]
Subsequent Events (Textual)
Long term debt	$ 75,000