Long-term Debt (Tables)

3 Months Ended

Mar. 31, 2013

Long-term Debt [Abstract]

Significant unobservable input assumptions of Level 3 valuations

The fair value of the 2,340,000 Warrants was calculated using the Black-Scholes option-pricing model. The significant Level 3 unobservable inputs used in valuing the Warrants are the historical volatility of our common stock market price, expected term of the warrants, and the risk-free interest rate based on the U.S. Treasury yield curve in effect at the measurement date. Any significant increases or decreases in the unobservable inputs, with the exception of the risk-free interest rate, would have resulted in a significantly higher or lower fair value measurement.

Significant Unobservable Input Assumptions of Level 3 Valuations
Historical Volatility	101	%
Expected Term (in years)	6.0
Risk-free interest rate	0.12	%

Long term debt included in balance sheet

Long-term debt as of March 31, 2013 consists solely of amounts due under the Deerfield Facility as follows:

Note Payable	$	10,000
Unamortized discount		(3,917	)
Long-term debt, net of discount	$	$ 6,083

Interest expense included in statement of operations

The following amounts comprise interest expense under the Deerfield Facility for the three months ended March 31, 2013:

Cash interest expense	$	113
Non-cash amortization of debt discount		57
Amortization of debt costs		5
Total interest expense	$	175