XML 34 R47.htm IDEA: XBRL DOCUMENT v2.4.0.8
RELATED PARTY TRANSACTIONS (Details) (USD $)
36 Months Ended 12 Months Ended 3 Months Ended 36 Months Ended 12 Months Ended 1 Months Ended 36 Months Ended 12 Months Ended 1 Months Ended 36 Months Ended 12 Months Ended
Dec. 31, 2012
Employees [Member]
Stock Option [Member]
Dec. 31, 2012
Employees [Member]
Stock Option [Member]
Minimum [Member]
Dec. 31, 2012
Employees [Member]
Stock Option [Member]
Maximum [Member]
Dec. 31, 2013
Employees [Member]
Stock Option [Member]
Dec. 31, 2013
Employees [Member]
Stock Option [Member]
Minimum [Member]
Dec. 31, 2013
Employees [Member]
Stock Option [Member]
Maximum [Member]
Jun. 30, 2011
Employees and Officers [Member]
Dec. 31, 2012
Employees and Officers [Member]
Stock Option [Member]
Dec. 31, 2013
Employees and Officers [Member]
Stock Option [Member]
Dec. 31, 2013
Employees and Officers [Member]
Stock Option [Member]
Minimum [Member]
Dec. 31, 2013
Employees and Officers [Member]
Stock Option [Member]
Maximum [Member]
Feb. 29, 2012
Directors [Member]
Dec. 31, 2012
Directors [Member]
Stock Option [Member]
Dec. 31, 2012
Directors [Member]
Stock Option [Member]
Minimum [Member]
Dec. 31, 2012
Directors [Member]
Stock Option [Member]
Maximum [Member]
Dec. 31, 2013
Directors [Member]
Stock Option [Member]
Dec. 31, 2013
Directors [Member]
Stock Option [Member]
Minimum [Member]
Dec. 31, 2013
Directors [Member]
Stock Option [Member]
Maximum [Member]
Oct. 31, 2010
Chief Executive Officer and Chief Scientific Officer [Member]
Jul. 31, 2010
Chief Executive Officer and Chief Scientific Officer [Member]
Mar. 31, 2010
Chief Executive Officer and Chief Scientific Officer [Member]
Dec. 31, 2012
Chief Executive Officer and Chief Scientific Officer [Member]
Stock Option [Member]
Dec. 31, 2013
Chief Executive Officer and Chief Scientific Officer [Member]
Stock Option [Member]
Date of grant Dec. 31, 2012             Sep. 30, 2011                           Jul. 31, 2010 Mar. 31, 2013
Date of grant start       Jan. 31, 2013         Jan. 31, 2013       Apr. 30, 2012     May 31, 2013              
Date of grant end       Dec. 31, 2013         Jun. 30, 2013       Sep. 30, 2011     Oct. 31, 2013              
Fair value of common stock on date of grant   $ 4.11 [1] $ 4.24 [1]   $ 2.05 [1] $ 5.19 [1] $ 1.25 $ 0.9060 [2]   $ 4.11 [1] $ 4.58 [1] $ 6.00   $ 0.9060 [2] $ 6.00 [3]   $ 2.04 [1] $ 6.59 [1] $ 2.756 $ 6.00 $ 3.00 $ 2.7560 [4] $ 6.57 [1]
Exercise price of the options   $ 4.11 $ 4.24   $ 2.05 $ 5.19   $ 1.25   $ 4.11 $ 4.58     $ 1.25 $ 6.00   $ 2.04 $ 6.59       $ 5.00 $ 6.57
Expected life of the options (years)   5 years 8 months 26 days 6 years 1 month 10 days   6 years 1 month 2 days 6 years 1 month 10 days   5 years 7 months 24 days   5 years 6 years 1 month 10 days     5 years 5 years 7 months 24 days   5 years 5 years 3 months 22 days       3 years 3 months 29 days 5 years
Dividend yield 0.00%     0.00%       0.00% 0.00%       0.00%     0.00%           0.00% 0.00%
Expected volatility   42.44% 44.58%   40.73% 41.81%   53.90%   40.96% 41.05%     53.90% 62.46%   41.06% 41.53%       58.59% 47.09%
Risk-free interest rate   0.91% 0.99%   1.73% 1.97%   1.08%   1.03% 1.36%     0.89% 1.08%   0.73% 1.49%       1.03% 1.13%
Expected forfeiture per year (%) 10.00%     10.00%       10.00% 10.00%       0.00%     10.00%           0.00% 0.00%
Weighted-average fair value of the options (per unit)   1.7426 1.7842   0.878 2.18   0.3579   1.69 1.89     0.3579 3.3067   0.790 2.49       0.6744 2.70
Exercise Price of Warrants             $ 1.60                                
[1] The fair values of the Company's common stock were derived from the closing prices on the NASDAQ Capital Market as of the dates of grant.
[2] The fair value of the Company's common stock was derived implicitly from the Private Placement during April through June 2011 at $1.25 per Unit, wherein one Unit was comprised of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $1.60 per share.
[3] The fair value of the Company's common stock was derived implicitly from the public offering filed in February 2012 at $6.00 per share.
[4] The fair value of the Company's common stock was derived implicitly from the public offering filed in March 2010 at $3.00 per share and from the terms of an underwritten offering contemplated in July 2010 at $6.00 per Unit that was filed in October 2010, with $2.756 per share being allocated to common stock using an iterative approach in order for the combined fair value of the common stock and warrants to equal the amount of consideration to be received for the offering.