Debt (Tables)

9 Months Ended

Sep. 30, 2013

Debt Disclosure [Abstract]

Assumptions Used in Estimation of Initial Fair Value of Warrants

The initial fair value of warrants earned in 2012 and 2013 was estimated using the Black-Scholes option pricing model with the following assumptions:

	July 2012			January 2013
Assumed risk-free interest rate		1.43	%		1.86	%
Assumed volatility		80	%		80	%
Expected warrant life		10 years			9.5 years
Expected dividend yield		0.0	%		0.0	%

Schedule of Aggregate Advances under the Loan and Security Agreement

The aggregate advances under the Company’s loan and security agreement and unamortized discount as of September 30, 2013 and December 31, 2012 are as follows:

	September 30, 2013			December 31, 2012
Aggregate advances under loan and security agreement	$	3,000,000		$	1,000,000
Less unamortized discount		(51,762	)		(20,208	)
Total debt, net of debt discount		2,948,238			979,792
Current portion of long-term debt, net of current portion of unamortized discount		(1,069,802	)		—
Long-term debt, net of current portion	$	1,878,436		$	979,792