Shareholders' Equity

3 Months Ended

Mar. 31, 2014

Shareholders’ Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Shareholders' Equity

Reverse Stock Split

On June 28, 2013, pursuant to prior shareholder authorization, the Company’s board of directors unanimously approved a 1-for-10 reverse stock split of the Company’s common stock, which the Company effected on July 16, 2013. All share and per share amounts of common stock, options and warrants in the accompanying financial statements have been restated for all periods to give retroactive effect to the reverse stock split. The shares of common stock retained a par value of $0.001 per share. Accordingly, the stockholders’ deficit reflects the reverse stock split by reclassifying from “common stock” to “Additional paid-in capital” an amount equal to the par value of the decreased shares resulting from the reverse stock split.

Equity Issuances

In September 2011, the Company entered into a common stock purchase agreement (the “Initial Purchase Agreement”) with Aspire Capital Fund, LLC, an Illinois limited liability company (“Aspire Capital”), which provided that Aspire Capital was committed to purchase up to an aggregate of $20.0 million worth of shares of the Company’s common stock over the 24-month term. In August, 2012, the Initial Purchase Agreement was extended for an additional 24-month term through September 2015. During the three months endedMarch 31, 2014, the Company issued 0.8 million shares of Common Stock under the provisions the Initial Purchase Agreement with Aspire for gross proceeds of approximately $5.6 million. As of March 31, 2014, the full $20.0 million worth of shares of the Company's stock had been issued under the Initial Purchase Agreement.

In March 2014, the Company entered into a new common stock purchase agreement (the “Purchase Agreement”) with Aspire Capital, which provides that, subject to certain terms and conditions, Aspire Capital is committed to purchase up to an aggregate of $30.0 million worth of shares of the Company’s common stock over the 24-month term. At the Company’s discretion, it may present Aspire Capital with purchase notices from time to time to purchase the Company’s common stock, provided certain price and other requirements are met. The purchase price for the shares of stock was based upon one of two formulas set forth in the Purchase Agreement depending on the type of purchase notice the Company submits to Aspire Capital, and is based on market prices of the Company’s common stock (in the case of regular purchases) or a discount of 5% applied to volume weighted average prices (in the case of VWAP purchases), in each case as determined by parameters defined in the Purchase Agreement. As consideration for entering into the Purchase Agreement, we are obligated to issue 150,000 shares of our common stock to Aspire Capital (the “Commitment Shares”).

Option Exercises

During the three months ended ended March 31, 2014, option holders exercised an aggregate of 12,800 options at at exercise prices between of $5.20 and $6.20 per share for gross proceeds of approximately $0.1 million.

Warrant Exercises

During the three months ended ended March 31, 2014, warrant holders exercised an aggregate of 250,000 warrants at an exercise price of $5.10 per share for gross proceeds of approximately $1.3 million.

Stock Options and Warrants

The following table summarizes the activity for stock options and warrants for the three months endedMarch 31, 2014:

	Stock Options							Warrants
	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In Thousands)		Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding at December 31, 2013	2,932,191		$	11.19	6.8	$	1,658.1	4,898,266		$	16.50	2.6	$	1,811.0
Changes during the Period:
Granted	1,169,200		$	7.70				2,722		$	12.26
Exercised	(12,800	)	$	5.58				(250,000	)	$	5.10
Forfeited	(109,329	)	$	6.97				(100,108	)	$	70.00
Expired	(66,565	)	$	14.77				(59,852	)	$	57.76
Outstanding at March 31, 2014	3,912,697		$	10.22	7.4	$	1,896.7	4,491,028		$	15.39	2.4	$	1,661.5
Vested at March 31, 2014 or expected to vest in the future	3,596,457		$	10.46	7.2	$	1,848.9	4,491,028		$	15.39	2.4	$	1,661.5
Vested at March 31, 2014	2,520,755		$	11.50	6.5	$	1,600.9	4,473,306		$	15.42	2.3	$	1,661.5

During the three months endedMarch 31, 2014 and 2013, the Company issued warrants for services as follows ($ in thousands, except share data):

	Three Months Ended March 31,
	2014		2013
Number of Common Stock Purchase Warrants Issued	—		3,913
Value of Common Stock Purchase Warrants Issued	$	—	$	14.9

Restricted Stock

During the three months endedMarch 31, 2014 and 2013, the Company issued restricted stock for services as follows ($ in thousands, except share data):

	Three Months Ended March 31,
	2014		2013
Number of Restricted Stock Issued	329,698		177,492
Value of Restricted Stock Issued	$	2,511.7	$	1,127.9

The weighted average estimated fair value of restricted stock issued for services in the three months endedMarch 31, 2014 and 2013 was $7.62 and $6.35 per share, respectively. The fair value of the restricted stock was determined using the Company’s closing stock price on the date of issuance. The vesting terms of restricted stock issuances are generally within one year.