XML 30 R50.htm IDEA: XBRL DOCUMENT v2.4.0.6
Notes Payable and Restructuring of Debt (Details Textual) (USD $)
1 Months Ended 12 Months Ended 12 Months Ended 7 Months Ended 12 Months Ended 12 Months Ended
Jun. 30, 2010
Dec. 31, 2012
Dec. 31, 2010
Sep. 27, 2012
Dec. 31, 2011
May 16, 2006
Sep. 26, 2005
Dec. 31, 2012
Novartis [Member]
Jun. 04, 2010
Novartis [Member]
Dec. 01, 2004
Novartis [Member]
Dec. 31, 2012
Legal and other transaction costs [Member]
Dec. 31, 2012
Reimbursement of MHR's legal fees [Member]
Dec. 31, 2012
Issuance Costs, MHR Convertible Notes [Member]
Dec. 31, 2012
Issuance costs, related derivative instruments allotment [Member]
Dec. 31, 2012
Legal fees incurred in connection with the Non-Disturbance Agreement [Member]
Dec. 31, 2012
Legal fees incurred in connection with the Non-Disturbance Agreement [Member]
Dec. 31, 2012
Legal expenses incurred by MHR in connection with the Future Transaction Agreement [Member]
Dec. 31, 2012
Face Amounts of 50000 [Member]
Dec. 31, 2012
Face Amounts of 100000 [Member]
Dec. 31, 2012
MHR Loan Agreement [Member]
Dec. 31, 2012
MHR Convertible Notes [Member]
Sep. 27, 2012
MHR Convertible Notes [Member]
Sep. 26, 2012
MHR Convertible Notes [Member]
Jun. 04, 2010
MHR Convertible Notes [Member]
Jun. 04, 2010
June 2010 MHR Warrants [Member]
Oct. 17, 2012
2012 Bridge Loan [Member]
Class of Warrant or Right [Line Items]                                                    
Shares of common stock                                         8,353,518          
Interest rate for MHR convertible notes                                           13.00%       13.00%
Interest rate for MHR convertible notes                               13.00%                    
Principal and interest due and payable                                             $ 30,500,000      
MHR convertible notes default description                                         As of September 27, 2012, the Company is in default under the terms of the MHR Convertible Notes. The default is the result of the Company’s failure to pay MHR approximately $30.5 million in principal and interest due and payable on September 26, 2012 under the terms of the MHR Convertible Notes. As a result of the Company’s failure to pay all amounts due and payable under the MHR Convertible Notes as of September 26, 2012, MHR has the ability under the terms of our Security Agreement with MHR to foreclose on substantially all of the Company’s assets. On October 4, 2012, the Company received notice from MHR that, pursuant to the terms of the MHR Convertible Notes, the default interest rate of 13% per annum will apply with respect to the MHR Convertible Notes, effective as of September 27, 2012. MHR has not demanded payment under the MHR Convertible Notes nor exercised its other rights under the Security Agreement as a result of the default, and has continued discussions with the Company regarding proposals relating to the MHR Convertible Notes and the Company’s default thereunder while reserving all of its rights under the Security Agreement.          
MHR convertible notes due date                               Sep. 26, 2012                    
Total issuance costs associated with the loan agreement     1,858,000               500,000 1,400,000 1,900,000 200,000           2,100,000            
Common stock                                                 865,000  
Fair value of the June 2010 MHR Warrants by using Black-Scholes Model                                                 1,900,000  
Fair value of the MHR Convertible Notes as of June 4, 2010   31,576,000     28,153,000                                     17,200,000    
Research collaboration and option agreement               11,000,000 11,000,000                                  
Deposit liabilities, accrued interest               13,000,000 13,000,000                                  
Legal fees                               500,000 100,000                  
Non-interest promissory notes                               500,000 100,000                  
Due date or expiry date   Jun. 04, 2012                                                
Discounted value of the face amounts                                   21,000 4,000              
Secured loan amount from MHR             15,000,000     10,000,000                               1,400,000
Amount of imputed interest                             45,000                      
Notes Payable and Restructuring of Debt (Textual) [Abstract]                                                    
Net proceeds of secured loan agreement             12,900,000                                      
Senior secured convertible notes loan agreement, execution date   May 16, 2006                                                
Conversion price per share           $ 3.78                                        
Reclassification of convertible notes into short term liability   Sep. 27, 2012                                                
Minimum percentage of common stock outstanding to provide continuity to Mutual Nominee on Board   2.00%                                                
Incremental borrowing rate   10.00%                                                
Default of the aggregate reimbursement notes       600,000                                            
Loss on extinguishment of debt $ 17,000,000    $ (17,014,000)