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Common Stock and Warrants (Narrative) (Details) (USD $)
1 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2014
Mar. 31, 2014
Feb. 28, 2014
Sep. 30, 2013
May 31, 2013
Jun. 30, 2014
Dec. 31, 2013
Common Stock And Warrants Narrative Details              
Number of shares of common stock issued 468,000 7,200,000 3,713,309 3,500,000 2,600,000    
Cash received from stock sale, before issuance costs $ 1,000,000 $ 13,900,000 $ 0 $ 6,600,000 $ 5,850,000 $ 13,734,000 $ 4,262,000
Stock issuance costs $ 96,000 $ 1,000,000   $ 452,000 $ 362,000    
Common shares underlying warrants   2,100,000          
Warrant exercise price, per share   $ 2.47          
Date from which warrants are exercisable   Sep. 30, 2014          
Warrant term, in years   5 years          
Warrant terms and provisions

In June 2014, we entered into an At-the-Market (ATM) equity offering agreement with Meyers Associates, L.P. Under the agreement we may, from time to time, at our discretion offer and sell shares of our common stock having an aggregate value of up to $4.5 million. During June 2014, we received proceeds of approximately $1.0 million before issuance costs of approximately $96,000 from the sale of 468,000 shares of our common stock.

 

 

In March 2014, we raised $13.9 million before issuance costs of approximately $1.0 million through an underwritten offering of 7.2 million shares of our common stock and warrants to purchase 2.1 million shares of our common stock. Each unit was sold to investors for $1.94 and consisted of one share of common stock and one warrant to purchase 0.3 shares of common stock. The warrants have an exercise price of $2.47 per share, are exercisable beginning six months from the date of issuance, and expire on the fifth anniversary of the date of issuance.

 

 

 

 

In February 2014, we issued 3,713,309 shares of our common stock under the exchange provisions of warrants issued in our May and September 2013 registered direct offerings. During the six months ended June 30, 2014, we recognized a loss of $5.0 million on the exchange as the fair market value of the common stock issued was greater than the obligation recorded due to an increase in our stock price since December 31, 2013.

 

 

 

In September 2013, we raised $6.6 million before issuance costs of approximately $452,000 from the sale of 3.5 million shares of common stock and warrants to purchase up to an aggregate of 2.1 million shares of our common stock in a registered direct offering.

 

 

In May 2013, we raised $5.85 million before issuance costs of approximately $362,000 from the sale of 2.6 million shares of common stock and warrants to purchase up to an aggregate of 2.0 million shares of our common stock in a registered direct offering.