|
Consolidated Balance Sheets (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
| Current assets: |
|
|
| Cash and cash equivalents |
$ 4,123,000 |
$ 14,839,000 |
| Securities available-for-sale |
18,572,000 |
33,310,000 |
| Other receivables |
16,000 |
48,000 |
| Prepaid expenses |
2,825,000 |
3,598,000 |
| Total current assets |
25,536,000 |
51,795,000 |
| Property and equipment, net |
36,000 |
78,000 |
| Other long-term assets |
19,000 |
19,000 |
| Total assets |
25,591,000 |
51,892,000 |
| Current liabilities: |
|
|
| Accounts payable |
2,633,000 |
1,470,000 |
| Accrued expenses |
2,307,000 |
2,181,000 |
| Current portion of promissory notes |
598,000 |
6,877,000 |
| Total current liabilities |
5,538,000 |
10,528,000 |
| Long-term promissory notes, less current portion |
5,343,000 |
|
| Warrant liability |
0 |
883,000 |
| Stock-based compensation liability |
22,000 |
202,000 |
| Total liabilities |
10,903,000 |
11,613,000 |
| Common shares, unlimited authorized shares, no par value; 16,844,736 and 16,149,871 shares issued and outstanding at December 31, 2014 and 2013, respectively |
113,095,000 |
111,204,000 |
| Contributed surplus |
17,053,000 |
13,824,000 |
| Accumulated other comprehensive gain |
99,000 |
98,000 |
| Accumulated deficit |
(115,559,000) |
(84,847,000) |
| Total shareholders’ equity |
14,688,000 |
40,279,000 |
| Total liabilities and shareholders’ equity |
$ 25,591,000 |
$ 51,892,000 |