Notes Payable (Tables)

3 Months Ended

Mar. 31, 2015

Notes Payable

Schedule of Loan and Security Agreement

The Amended LSA increased the total term loan availability from $2.0 million to $12.0 million, available in four tranches (in thousands):

		Term Loan		Term Loan
Tranche		Available		Borrowed	Borrowed Date
A	$	2,000	$	2,000	April 2014
B		5,000		5,000	December 2014
C		2,500		—	*
D		2,500		—	*
	$	12,000	$	7,000

*Our ability to borrow under the remaining tranches of $2.5 million each depends upon meeting certain clinical trial milestones.  The availability end dates of Tranches C and D are September 1, 2015 and March 31, 2016, respectively.