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RELATED PARTY TRANSACTIONS (Tables)
 6 Months Ended
Jun. 30, 2013
Related Party Transactions [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The Company estimated the fair value of these options using the Black-Scholes-Merton option pricing model based on the following weighted-average assumptions:
 
 
 
 
 
 
 
 
 
 
 
Employees &
 
 
Non-employee
 
 
Non-employee
 
 
 
 
 
 
 
 
 
 
 
CEO & CSO
 
 
Dr. Hunkapiller
 
 
Officers
 
 
Directors
 
 
Directors
 
 
Employees
 
 
Employees
 
Date of grant
 
22-Jul-10
 
 
4-Apr-11
 
 
1-Sep-11
 
 
1-Sep-11
 
 
30-Apr-12
 
 
17-Dec-12
 
 
20-Dec-12
 
Fair value of common stock on date of grant
 
$
2.7560
(B)
 
$
0.9060
(C)
 
$
0.9060
(C)
 
$
0.9060
(C)
 
$
6.00
(D)
 
$
4.24
(E)
 
$
4.11
(E)
Exercise price of the options
 
$
5.00
 
 
$
1.25
 
 
$
1.25
 
 
$
1.25
 
 
$
6.00
 
 
$
4.24
 
 
$
4.11
 
Expected life of the options (years)
 
 
3.33
 
 
 
5.31
 
 
 
5.65
 
 
 
5.65
 
 
 
5.00
 
 
 
5.74-6.10
 
 
 
6.11
 
Dividend yield
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
Expected volatility
 
 
58.59
%
 
 
54.12
%
 
 
53.90
%
 
 
53.90
%
 
 
62.46
%
 
 
42.44-44.58
%
 
 
42.44
%
Risk-free interest rate
 
 
1.03
%
 
 
2.26
%
 
 
1.08
%
 
 
1.08
%
 
 
0.89
%
 
 
0.91-0.99
%
 
 
0.99
%
Expected forfeiture per year (%)
 
 
0.00
%
 
 
0.00
%(A)
 
 
 
 
 
 
0.00
%
 
 
0.00
%
 
 
0.00-10.00
%
 
 
0.00
%
Weighted-average fair value of the options (per unit)
 
$
0.6744
 
 
$
0.3729
 
 
$
0.3579
 
 
$
0.3579
 
 
$
3.0367
 
 
$
1.7426-1.7887
 
 
$
1.7842
 
  
 
 
 
 
 
Employees &
 
 
 
 
 
 
 
 
 
Employee
 
 
Officers
 
 
Employee
 
 
CEO & CSO
 
Date of grant
 
3-Jan-13
 
 
4-Jan-13
 
 
5-Jan-13
 
 
11-Mar-13
 
Fair value of common stock on date of grant
 
$
4.31
(E)
 
$
4.11
(E)
 
$
3.95
(E)
 
$
6.57
(E)
Exercise price of the options
 
$
4.31
 
 
$
4.11
 
 
$
3.95
 
 
$
6.57
 
Expected life of the options (years)
 
 
6.11
 
 
 
6.11
 
 
 
6.11
 
 
 
5.00
 
Dividend yield
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
Expected volatility
 
 
42.23
%
 
 
43.79
%
 
 
42.22
%
 
 
47.09
%
Risk-free interest rate
 
 
0.99
%
 
 
0.99
%
 
 
1.13
%
 
 
0.90-1.13
%
Expected forfeiture per year (%)
 
 
10.00
%
 
 
10.00
%
 
 
10.00
%
 
 
0
%
Weighted-average fair value of the options (per unit)
 
$
1.4712
 
 
$
1.6922
 
 
$
1.3511
 
 
$
2.7022
 
  
 
(A)
0.00% for the first year after the grant date, and 96.35% for every three months thereafter.
 
 
(B)
The fair value of the Company's common stock was derived implicitly from the public offering filed in March 2010 at $3.00 per share and from the terms of an underwritten offering contemplated in July 2010 at $6.00 per Unit that was filed in October 2010, with $2.756 per share being allocated to common stock using an iterative approach in order for the combined fair value of the common stock and warrants to equal the amount of consideration to be received for the offering.
 
 
(C)
The fair value of the Company's common stock was derived implicitly from the Private Placement during April through June 2011 at $1.25 per Unit, wherein one Unit was comprised of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $1.60 per share.
 
 
(D)
The fair value of the Company's common stock was derived implicitly from the public offering filed in February 2012 at $6.00 per share.
 
 
 
 
(E)
The fair values of the Company's common stock were derived from the closing prices on the NASDAQ Capital Market as of the dates of grant.
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Options issued and outstanding as of June 30, 2013 and their activities during the six months then ended are as follows:
 
 
 
Number of Underlying
Shares
 
Weighted-Average
Exercise Price Per
Share
 
Weighted-Average
Contractual Life
Remaining in
Years
 
Outstanding as of January 1, 2013
 
 
1,052,137
 
$
3.78
 
 
 
 
Granted
 
 
1,302,654
 
 
5.02
 
 
 
 
Expired
 
 
-
 
 
-
 
 
 
 
Forfeited
 
 
(12,709)
 
 
3.10
 
 
 
 
Exercised
 
 
(5,546)
 
 
1.79
 
 
 
 
Outstanding as of June 30, 2013
 
 
2,336,536
 
 
4.48
 
 
8.36
 
Exercisable as of June 30, 2013
 
 
870,501
 
 
4.35
 
 
6.59
 
Vested and expected to vest (1)
 
 
2,178,857
 
 
4.48
 
 
8.26
 
 
(1) includes vested shares and unvested shares after a forfeiture rate is applied.
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Non-Vested Shares [Table Text Block]
A summary of the status of the Company’s unvested shares as of June 30, 2013 and changes during the six month period then ended is presented below:
 
Unvested
Shares
 
Shares
 
Weighted-Average Grant-Date
Fair Value
 
Unvested as of January 1, 2013
 
 
520,835
 
$
824,549
 
Granted
 
 
1,302,654
 
 
2,592,353
 
Vested
 
 
(339,199)
 
 
(719,032)
 
Exercised
 
 
(5,546)
 
 
(3,370)
 
Forfeited
 
 
(12,709)
 
 
(15,623)
 
Unvested as of June 30, 2013
 
 
1,466,035
 
$
2,678,877