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Warrants
3 Months Ended
Mar. 31, 2013
Warrants [Abstract]  
WARRANTS

11. WARRANTS

In connection with the Company’s private placement in August 2007, the Company issued warrants to purchase up to 500,041 shares of the Company’s common stock. At March 31, 2012, 346,781 of the 2007 warrants were outstanding. The 346,781 outstanding warrants issued in 2007 expired in August of 2012.

In connection with a public offering of the Company’s common stock in May 2009, the Company issued a 5-year warrant to Kingsbridge Capital to purchase up to 200,000 shares of the Company’s common stock at an exercise price of $11.35 per share. These 200,000 warrants are outstanding at March 31, 2013.

As discussed in detail in Note 1, on March 15, 2013 the Company executed definitive loan documents finalizing a $10 million loan with a venture capital lender. In connection with the loan, the Lender received a warrant to purchase 693,202 shares of the Company’s common stock at an exercise price of $1.118 per share. This warrant was issued April 26, 2013 and expires five years from the date of issuance.

No warrants were exercised during the three months ended March 31, 2013 and March 31, 2012, respectively.