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Consolidated Statements of Cash Flows (USD $)
12 Months Ended 84 Months Ended
Aug. 31, 2012
Aug. 31, 2011
Aug. 31, 2010
Aug. 31, 2012
Cash flows from operating activities:        
Net loss $ (38,644,000) $ (37,195,000) $ (18,928,000) $ (116,646,000)
Adjustments to reconcile net loss to net cash used in operating activities:        
Employee stock-based compensation expense 4,487,000 1,920,000 217,000 7,838,000
Consultant stock-based compensation expense 72,000 197,000 78,000 755,000
Fair value adjustment of common stock warrants 3,173,000 16,301,000 5,895,000 25,369,000
Amortization of intangible assets 146,000 153,000 152,000 697,000
Depreciation of fixed assets 65,000 78,000 72,000 566,000
Write-off of intangible assets and other intellectual property 900,000 108,000 0 1,249,000
Amortization of capitalized finder's fee     0 102,000
Capitalized acquisition costs previously expensed     0 38,000
Changes in assets and liabilities:        
Prepaid expenses and other (2,695,000) (130,000) (79,000) (3,011,000)
Intangible assets     0 (150,000)
Deposits 0 (2,000) (3,000) (105,000)
Accounts payable 754,000 210,000 24,000 1,601,000
Accrued liabilities 403,000 1,119,000 (2,000) 1,972,000
Deferred rent (10,000) 22,000 3,000 14,000
Net cash used in operating activities (31,349,000) (17,219,000) (12,571,000) (79,711,000)
Cash flows from investing activities:        
Purchase of fixed assets (378,000) (50,000) (20,000) (925,000)
Purchase of short-term investments (45,307,000) 0 0 (45,307,000)
Sale of short-term investments 30,000,000 0 0 30,000,000
Cash acquired in 2009 Merger     581,000 581,000
Investment in restricted cash (54,000) (114,000) 0 (169,000)
Net cash provided by (used in) investing activities (15,739,000) (164,000) 561,000 (15,820,000)
Cash flows from financing activities:        
Proceeds from the sale of common stock 46,000,000 0 22,555,000 85,941,000
Proceeds from the sale of common stock under an equity line 0 6,740,000 4,900,000 11,640,000
Proceeds from the sale of common stock under an ATM agreement 7,684,000 0 0 7,684,000
Proceeds from the exercise of common stock warrants 5,013,000 8,912,980 475,019 20,911,000
Proceeds from the exercise of common stock options 366,000 96,000 64,000 535,000
Fundraising costs (3,528,000) 0 (2,720,000) (7,855,000)
Deferred offering costs 18,000 (152,000) 0 18,000
Proceeds from the sale of common stock to initial investors   0 0 310,000
Proceeds from bridge loan     0 200,000
Repayment of bridge loan     0 (200,000)
Principal payments on capital lease (5,000) (5,000) (4,000) (23,000)
Net cash provided by financing activities 55,548,000 15,592,000 25,270,000 119,161,000
Foreign currency translation adjustment (52,000) 10,000 (8,000) (50,000)
Net increase (decrease) in cash and cash equivalents 8,408,000 (1,781,000) 13,252,000 23,580,000
Cash and cash equivalents, beginning of period 15,172,000 16,953,524 3,702,000 0
Cash and cash equivalents, end of period 23,580,000 15,172,000 16,953,524 23,580,000
Supplemental cash flow information:        
Interest Paid 3,000 2,000 4,000 17,000
Supplemental disclosure of non-cash financing activities:        
Warrants issued in connection with financings     9,677,000 16,310,000
Initial fair value of warrants issued to placement agents in connection with financings     209,000 209,000
Common stock and warrants issued in connection with reverse merger     4,417,000 4,417,000
Common stock issued as fee for equity line 0 519,000 309,000 828,000
Acquisition of equipment in exchange for capital lease 13,000 14,000 0 48,000
Fair value of warrant liability reclassified to equity upon exercise 9,482,000 8,506,000 0 17,988,000
Notes receivable issued in exchange for common stock     0 110,000
Common stock issued for a finder's fee     0 102,000
Common stock issued in asset purchase     $ 0 $ 2,899,000