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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2012	Nov. 06, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	DELCATH SYSTEMS INC
Entity Central Index Key	0000872912
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		75,075,446
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2012

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Current assets
Cash and cash equivalents	$ 28,298	$ 25,777
Investments - Certificates of deposit	0	4,980
Inventories	941	0
Accounts receivables	43	0
Prepaid expenses and other current assets	1,440	1,231
Total current assets	30,722	31,988
Property, plant and equipment
Land	154	154
Building and building improvements	449	0
Furniture and fixtures	969	880
Machinery and equipment	1,435	1,371
Computer software and equipment	2,136	1,212
Leasehold improvements	1,698	1,148
Property, plant and equipment, gross	6,841	4,765
Less: accumulated depreciation	(2,556)	(1,512)
Property, plant and equipment, net	4,285	3,253
Total assets	35,007	35,241
Current liabilities
Accounts payable and accrued expenses	5,148	6,398
Warrant liability	4,561	2,439
Total current liabilities	9,709	8,837
Deferred revenue	358	300
Commitments and contingencies
Stockholders' equity
Preferred stock, $.01 par value; 10,000,000 shares authorized; no shares issued and outstanding at September 30, 2012 and December 31, 2011	0	0
Common stock, $.01 par value; 170,000,000 shares authorized; 73,422,008 and 48,237,634 shares issued and 73,393,908 and 48,209,534 outstanding at September 30, 2012 and December 31, 2011, respectively	734	482
Additional paid-in capital	212,324	172,613
Accumulated deficit	(188,150)	(146,940)
Treasury stock, at cost; 28,100 shares at September 30, 2012 and December 31, 2011	(51)	(51)
Accumulated other comprehensive income	83	0
Total stockholders' equity	24,940	26,104
Total liabilities and stockholders' equity	$ 35,007	$ 35,241

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2012	Dec. 31, 2011
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	170,000,000	170,000,000
Common stock, shares issued (in shares)	73,422,008	48,237,634
Common stock, shares outstanding (in shares)	73,393,908	48,209,534
Treasury stock, at cost (in shares)	28,100	28,100

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Condensed Consolidated Statements of Operations and Comprehensive Income [Abstract]
Revenue	$ 39	$ 0	$ 146	$ 0
Cost of sales	0	0	0	0
Gross profit	39	0	146	0
Operating expenses
Selling, general and administrative	6,960	5,744	21,604	15,148
Research and development	5,254	6,437	20,589	15,333
Total operating expenses	12,214	12,181	42,193	30,481
Operating loss	(12,175)	(12,181)	(42,047)	(30,481)
Change in fair value of warrant liability, net	446	3,872	1,025	14,864
Interest income	9	1	16	1
Other expense and interest expense	(93)	0	(204)	0
Net loss	$ (11,813)	$ (8,308)	$ (41,210)	$ (15,616)
Common share data:
Basic and diluted loss per share (in dollars per share)	$ (0.18)	$ (0.18)	$ (0.72)	$ (0.35)
Weighted average number of basic and diluted common shares outstanding (in shares)	67,219,224	46,961,123	56,844,697	44,315,838
Other comprehensive income (loss) [Abstract]
Foreign currency translation adjustment	$ 87	$ 0	$ 83	$ 0
Unrealized loss on securities	0	(3)	0	(14)
Other comprehensive income (loss) total	87	(3)	83	(14)
Comprehensive loss	$ (11,726)	$ (8,311)	$ (41,127)	$ (15,630)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash flows from operating activities:
Net loss	$ (41,210)	$ (15,616)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock option compensation expense	2,159	2,921
Restricted stock compensation expense	763	438
Depreciation expense	1,044	723
Warrant liability fair value adjustment	(1,025)	(14,864)
Non-cash interest income	(3)	(1)
Changes in assets and liabilities:
Decrease (increase) in prepaid expenses and other current assets	(206)	742
Decrease (increase) in inventories	(941)	0
Decrease (increase) in accounts receivables	(43)	0
Deferred revenue	58	0
Increase (decrease) in accounts payable and accrued expenses	(1,250)	1,843
Net cash used in operating activities	(40,654)	(23,814)
Cash flows from investing activities:
Purchase of property, plant and equipment	(2,076)	(2,275)
Proceeds from maturities of short-term investments	4,980	(2,243)
Net cash provided by (used in) investing activities	2,904	(4,518)
Cash flows from financing activities:
Net proceeds from sale of stock and exercise of stock options and warrants	40,188	23,674
Net cash provided by financing activities	40,188	23,674
Effect of exchange rate on cash	83	0
(Decrease) increase in cash and cash equivalents	2,521	(4,658)
Cash and cash equivalents at beginning of period	25,777	45,621
Cash and cash equivalents at end of period	28,298	40,963
Supplemental cash flow information:
Cash paid for interest	0	0
Supplemental non-cash activities:
Cashless exercise of stock options and shares surrendered upon restricted stock vesting	0	(61)
Fair value of warrants issued and exercised	$ 3,147	$ 0

Description of Business and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2012

Description of Business and Summary of Significant Accounting Policies [Abstract]

Description of Business and Summary of Significant Accounting Policies

Note 1:

Description of Business and Summary of Significant Accounting Policies

Delcath Systems, Inc. (the "Company") is a specialty pharmaceutical and medical device company focused on oncology. Delcath's proprietary system for chemosaturation is designed to administer high dose chemotherapy and other therapeutic agents to diseased organs or regions of the body, while controlling the systemic exposure of those agents. The Company's initial focus is on the treatment of primary and metastatic liver cancers. In 2010, Delcath announced that its randomized Phase III clinical trial for patients with metastatic melanoma in the liver had successfully achieved the study's primary endpoint of extended hepatic progression-free survival. The Company also completed a multi-arm Phase II trial to treat other liver cancers. The Company obtained authorization to affix a CE Mark for the Delcath Hepatic CHEMOSAT® delivery system in April 2011 and for the second generation hemofiltration cartridge for CHEMOSAT in April 2012. In October 2012, the Company satisfied all of the requirements to affix the CE Mark to its CHEMOSAT device system for use with doxorubicin hydrochloride injection, providing a regulatory pathway for CHEMOSAT hydrochloride injection for countries in Asia that accept CE Marking as part of their national reguwith doxorubicin latory requirements. The Company submitted its New Drug Application (NDA) to the U.S. Food & Drug Administration (FDA) on August 15, 2012, seeking approval for commercial sale of its chemosaturation system with melphalan in the treatment of patients with unresectable metastatic melanoma in the liver. The Company's NDA was accepted for filing by the FDA, and has been designated for standard review with a Prescription Drug User Fee Act (PDUFA) goal date of June 15, 2013. The Company has not yet received FDA approval for commercial sale of its system in the United States. Delcath transitioned from a development stage company to a commercial organization with operational activities in April 2012. Accordingly, reporting as a development stage company is no longer deemed necessary.

The Company has incurred losses since inception and anticipates incurring additional losses until such time, if ever, that it can generate significant sales. Management anticipates that additional working capital will be required to continue operations. To the extent additional capital is not available when needed, the Company may be forced to abandon some or all of its development and commercialization efforts, which would have a material adverse effect on the prospects of the business. Operations of the Company are subject to certain risks and uncertainties, including, among others, uncertainty of product development; uncertainty regarding regulatory approval; technological uncertainty; uncertainty regarding patents and proprietary rights; comprehensive government regulations; limited commercial manufacturing, marketing or sales experience; and dependence on key personnel.

Basis of Condensed Consolidated Financial Statement Presentation

9 Months Ended

Sep. 30, 2012

Basis of Condensed Consolidated Financial Statement Presentation [Abstract]

Basis of Condensed Consolidated Financial Statement Presentation

Note 2:

Basis of Condensed Consolidated Financial Statement Presentation

The accompanying condensed consolidated financial statements are unaudited and were prepared by the Company in accordance with generally accepted accounting principles in the United States of America ("GAAP") and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in the Company's annual financial statements have been condensed or omitted. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make assumptions and estimates that impact the amounts reported in the Company's condensed consolidated financial statements. The condensed consolidated financial statements include the accounts of all entities controlled by Delcath. All significant inter-company accounts and transactions are eliminated. The unaudited interim condensed consolidated financial statements, in the opinion of management, reflect all adjustments (consisting of normal recurring accruals) necessary for a fair statement of the Company's results of operations, financial position and cash flows for the interim periods ended September 30, 2012 and 2011.

The results of operations and cash flows for the interim periods are not necessarily indicative of the results of operations to be expected for the fiscal year. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2011, which are contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2011 as filed with the Securities and Exchange Commission (the "SEC") on March 6, 2012.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 3:

Summary of Significant Accounting Policies

Use of Estimates

The Company bases its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company's condensed consolidated balance sheets and the amount of expenses reported for each of its periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for derivative instrument liabilities, stock-based compensation, income taxes and research and operating expense accruals. Such assumptions and estimates are subject to change in the future as additional information becomes available or as circumstances are modified. Actual results could differ from these estimates.

Selling, General and Administrative Costs

Selling, general and administrative costs include personnel costs and related expenses for the Company's sales, marketing, general management and administrative staff, recruitment, costs related to the Company's commercialization efforts in Europe, professional service fees, professional license and organizational fees, business development and certain general legal activities.

Research and Development Costs

Research and development costs include the costs of materials used for R&D and clinical trials, personnel costs associated with device and pharmaceutical R&D, clinical affairs, medical affairs, and regulatory affairs costs of outside services and applicable indirect costs incurred in the development of the Company's proprietary drug delivery system. All such costs are charged to expense when incurred.

Revenue Recognition

Revenue from product sales is generally recognized when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery has occurred; product price is fixed or determinable; and collection of the resulting receivable is reasonably assured. When obligations or contingencies remain after the products are shipped, such as training and certifying the treatment centers, revenue is deferred until the obligations or contingencies are satisfied.

Inventory

Prior to obtaining authorization to affix the CE Mark to its Generation Two Delcath Hepatic CHEMOSAT® Delivery System in April 2012, the Company expensed all of its inventory costs as research and development. Inventory as of September 30, 2012 includes finished goods and components relating to Generation Two of the Delcath Hepatic CHEMOSAT® Delivery System that have been purchased since April 2012. Therefore, as is common for companies transitioning from the development stage to commercial, to the extent that materials expensed prior to April 2012 are used in manufacturing finished goods for sale, the Company's cost of goods sold will be reduced accordingly.

Deferred Revenue Recognition

Deferred revenue on the accompanying condensed consolidated balance sheets includes payment received for product sales to a distributor and payment received upon execution of a research and distribution agreement with Chi-Fu Trading Co, Ltd. The Company will recognize the revenue related to product sales when its obligations under the agreement have been satisfied and will recognize the deferred revenue related to the research and distribution agreement over the expected obligation period of the agreement once this amount is reasonably determinable.

Recently Adopted Accounting Pronouncements

In May 2011, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2011-04 which was issued to provide a consistent definition of fair value and ensure that the fair value measurement and disclosure requirements are similar between U.S. GAAP and IFRS. ASU 2011-04 changes certain fair value measurement principles and enhances the disclosure requirements particularly for Level 3 fair value measurements. The Company adopted this guidance on January 1, 2012, and its adoption did not significantly impact the Company's consolidated financial statements.

In June 2011, the FASB issued ASU 2011-05 which provides new guidance on the presentation of comprehensive income. ASU 2011-05 eliminates the option to report other comprehensive income and its components in the statement of changes in stockholders' equity and instead requires an entity to present the total of comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement or in two separate but consecutive statements. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, with early adoption permitted. The adoption of this ASU only requires a change in the format of the current presentation. The Company adopted this guidance on January 1, 2012, and its adoption did not significantly impact the Company's condensed consolidated financial statements.

In December 2011, the Financial Accounting Standards Board ("FASB") issued ASU 2011-12, "Comprehensive Income". This update amends certain pending paragraphs in ASU No. 2011-05 "Presentation of Comprehensive Income", to effectively defer only those changes that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income for annual and interim financial statements for public, private, and non-profit entities. The Company adopted this guidance on January 1, 2012, and its adoption did not significantly impact the Company's condensed consolidated financial statements.

Cost of Goods Sold

9 Months Ended

Sep. 30, 2012

Cost of Goods Sold [Abstract]

Cost of Goods Sold

Note 4:

Cost of Goods Sold

The majority of the Company's inventory was purchased prior to obtaining authorization to affix the CE Mark to its Generation Two Delcath Hepatic CHEMOSAT® Delivery System in April 2012, including all of the components used in the kits sold during the nine months ended September 30, 2012. Additionally, the kits were built during the quarter ended March 31, 2012 and accordingly, all labor and overhead related to the kits was expensed during the first quarter. As a result, the costs of sales related to recognized and deferred revenue was $0.

Inventories

9 Months Ended

Sep. 30, 2012

Inventories [Abstract]

Inventories

Note 5:

Inventories

Inventories consist of:

	June 30, 2012		December 31, 2011

Raw materials	$	178	$	-
Work-in-process		518		-
Finished goods		245		-
Totals		941		-

Stock Option Plans

9 Months Ended

Sep. 30, 2012

Stock Option Plans [Abstract]

Stock Option Plans

Note 6:

Stock Option Plans

The Company established the 2004 Stock Incentive Plan and the 2009 Stock Incentive Plan (collectively, the "Plans") under which 3,000,000, and 6,500,000 shares, respectively, were reserved for the issuance of stock options, stock appreciation rights, restricted stock, stock grants and other equity awards. In May 2012, the total number of shares of Delcath common stock reserved for issuance under the 2009 Stock Incentive Plan was increased by 2,300,000 shares, from 4,200,000 to 6,500,000 upon a favorable vote by the Company's stockholders. A stock option grant allows the holder of the option to purchase a share of the Company's common stock in the future at a stated price. The Plans are administered by the Compensation and Stock Option Committee of the board of directors which determines the individuals to whom awards shall be granted as well as the type, terms and conditions of each award, the option price and the duration of each award.

Options granted under the Plans vest as determined by the Company's Compensation and Stock Option Committee and expire over varying terms, but not more than ten years from the date of grant. Stock option activity for the nine month period ended September 30, 2012 is as follows:

	Stock Option Activity under the Plans
	Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Life (Years)
Outstanding at December 31, 2011	4,129,749		$	5.09		6.38
Granted	1,203,452			3.81
Expired	(400,000	)		4.95
Forfeited	(99,148	)		4.98
Outstanding at September 30, 2012	4,834,053			4.78		7.11

For the three and nine months ended September 30, 2012, the Company recognized compensation expense of approximately $0.3 million and $1.1 million, respectively, relating to options granted in previous years and $0.5 million and $1.0 million, respectively, relating to options granted during 2012.

The Company uses an option pricing model to determine the fair value of stock options awarded to employees on the date of grant. The Company has expensed its stock-based compensation for share-based payments granted under the ratable method, which treats each vesting tranche as if it were an individual grant.

The Company accounts for stock-based compensation expense for non-employees using the fair-value method which requires the award to be re-measured at each reporting date until the award is vested. The Company estimates the fair value using an option pricing model. The Company has expensed its share-based compensation for non-employees under the ratable method.

The assumptions used in the option pricing model to determine the fair value of stock options awarded to employees are as follows:

	Nine Months ended September 30,
	2012	2011
Dividend yield	None	None
Expected volatility	77.37% - 84.47%	72.16% - 75.35%
Weighted average volatility	79.87%	73.62%
Risk-free interest rates	0.78% - 1.49%	1.45% - 3.11%
Expected life (in years)	6.0	5.0 - 6.0

No dividend yield was assumed because the Company has never paid a cash dividend on its common stock. Volatilities were developed using the Company's historical volatility. The risk-free interest rate was developed using the U.S. Treasury yield for periods equal to the expected life of the stock options on the grant date. The expected holding period was developed based on the mid-point between the vesting date and the expiration date of each respective grant as permitted under FASB ASC 718. This method of determining the expected holding period was utilized because the Company does not have sufficient historical experience from which to estimate the period.

Restricted stock activity for the nine month period ended September 30, 2012 is as follows:

	Restricted Stock Activity
	Restricted Stock			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2011		193,532			5.84
Granted		428,920			2.84
Vested		(91,910	)		5.85
Forfeited		(15,431	)		4.19
Non-vested at September 30, 2012		515,111			3.38

For the three and nine months ended September 30, 2012, the Company recognized compensation expense of $0.1 million and $0.4 million, respectively, relating to restricted stock granted in previous years. For the three and nine months ended September 30, 2012, the Company recognized approximately $0.2 million and $0.4 million, respectively, relating to restricted stock granted during 2012.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Assets and Liabilities Measured at Fair Value

9 Months Ended

Sep. 30, 2012

Assets and Liabilities Measured at Fair Value [Abstract]

Assets and Liabilities Measured at Fair Value

Note 7:

Assets and Liabilities Measured at Fair Value

Derivative warrant liability

The Company allocated part of the proceeds of a private placement and two public offerings of the Company's common stock to warrants issued in connection with those transactions. The Company determined that these warrants should be classified as liabilities rather than equity. The valuation of the warrants is determined using an option pricing model. This model uses inputs such as the underlying price of the shares issued when the warrant is exercised, volatility, risk free interest rate and expected life of the instrument. The Company has determined that the warrant derivative liability should be classified within Level 3 of the fair-value hierarchy by evaluating each input for the model against the fair-value hierarchy criteria and using the lowest level of input as the basis for the fair-value classification as called for in FASB ASC 820-10-35. There are six inputs: the closing price of the Company's common stock on the day of evaluation; the exercise price of the warrants; the remaining term of the warrants; the volatility of Delcath's stock over that term; annual rate of dividends; and the riskless rate of return. Of those inputs, the exercise price of the warrants and the remaining term are readily observable in the warrant agreements. The annual rate of dividends is based on our historical practice of not granting dividends. The closing price of the Company's common stock would fall under Level 1 of the fair-value hierarchy as it is a quoted price in an active market (820-10-35-40). The riskless rate of return is a Level 2 input as defined in FASB ASC 820-10-35-48, while the historical volatility is a Level 3 input as defined in FASB ASC 820-10-55-22. Since the lowest level input is a Level 3, the Company determined the warrant derivative liability is most appropriately classified within Level 3 of the fair value hierarchy.

In May 2012, the Company completed the sale of 15,333,340 shares of its common stock and the issuance of warrants to purchase 4,600,002 common shares (the "2012 Warrants") pursuant to an underwriting agreement. The Company received proceeds of $21.5 million, with net cash proceeds after related expenses from this transaction of approximately $21.1 million. Of those proceeds, the Company allocated an estimated fair value of $3.4 million to the 2012 Warrants. At September 30, 2012, the 2012 Warrants were exercisable at $1.65 per share with 4,600,002 warrants outstanding. The 2012 Warrants have a three-year term. The shares and warrants were issued pursuant to an effective registration statement on Form S-3.

In June 2009, the Company completed the sale of 869,565 shares of its common stock and the issuance of warrants to purchase 1,043,478 common shares (the "2009 Warrants") pursuant to a subscription agreement with a single investor. The Company received proceeds of $3.0 million, with net cash proceeds after related expenses from this transaction of approximately $2.7 million. Of those proceeds, the Company allocated an estimated fair value of $2.2 million to the 2009 Warrants (see below). As required by the 2009 Warrant agreement, the exercise price of the warrants was adjusted following the Company's May 31, 2012 sale of common stock and warrants. At September 30, 2012, the 2009 Warrants were exercisable at $1.33 per share with 1,043,478 warrants outstanding. The 2009 Warrants have a five-year term. The shares and warrants were issued pursuant to an effective registration statement on Form S-3.

In September 2007, the Company completed the sale of 3,833,108 shares of its common stock and the issuance of warrants to purchase 1,916,554 common shares (the "2007 Warrants") in a private placement to institutional and accredited investors. The Company received net proceeds of $13.3 million in this transaction. The Company allocated $4.3 million of those proceeds to the 2007 Warrants (see below). In accordance with the provisions of the 2007 Warrant agreement, both the exercise price and number of warrants were adjusted following the Company's May 31, 2012 sale of common stock and warrants and became exercisable at $1.49 per share with 3,392,592 warrants outstanding. The 2007 Warrants expired on September 21, 2012. Approximately 3.0 million warrants were exercised during the quarter ended September 30, 2012. The remaining liability after the warrant exercises was credited to pre-tax derivative intrument income.

The $3.4 million in proceeds allocated to the 2012 Warrants and the $2.2 million in proceeds allocated to the 2009 Warrants are classified as derivative instrument liabilities. The terms of the warrants provide for potential adjustment in the exercise price and are therefore considered to be derivative instrument liabilities that are subject to mark-to-market adjustment each period. As a result, for the nine month period ended September 30, 2012, the Company recorded pre-tax derivative instrument income of $1.0 million. The resulting derivative instrument liabilities totaled $4.6 million at September 30, 2012. Management expects that the warrants will either be exercised or expire worthless. The fair value of the Warrants at September 30, 2012 was determined by using an option pricing model assuming the following:

	2012 Warrants			2009 Warrants
Expected volatility		83.54	%		85.83	%
Risk-free interest rates		0.28	%		0.21	%
Expected life (in years)		2.7			1.7

Money Market Funds

Cash and cash equivalents includes a money market account valued at $2.0 million.

The table below presents the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2012, aggregated by the level in the fair value hierarchy within which those measurements fall:

Assets and Liabilities Measured at Fair Value on a Recurring Basis at September 30, 2012

(in thousands)

	Level 1		Level 2		Level 3		Balance at September 30, 2012
Assets
Money market funds	$	1,967		-		-	$	1,967
Total Assets	$	1,967		-		-	$	1,967
Liabilities
Warrant liability	$	-		-	$	4,561	$	4,561
Total Liabilities	$	-		-	$	4,561	$	4,561

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

(in thousands)

	Warrant Liability
Beginning balance	$	2,439
Total change in the fair value of the liability included in earnings		(1,025	)
Fair value of warrants issued		4,055
Fair value of warrants exercised or expired		(908	)
Ending balance	$	4,561

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
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-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Common Stock

9 Months Ended

Sep. 30, 2012

Common Stock [Abstract]

Common Stock

Note 8:

Common Stock

On December 29, 2011, the Company entered into a sales agreement (the "Sales Agreement") with Cowen and Company, LLC to sell shares of the Company's common stock, par value $.01 per share, having aggregate sales proceeds of $39,750,000, from time to time, through an "at the market" equity offering program under which Cowen and Company, LLC will act as sales agent. As of September 30, 2012, the Company had sold approximately 6.5 million shares of its common stock through the program for net proceeds after related expenses of approximately $14.6 million. The net proceeds were used for general corporate purposes, including, but not limited to, commercialization of our products, obtaining regulatory approvals, funding of our clinical trials, capital expenditures and working capital. As of September 30, 2012, there was approximately $24.5 million available under this program.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Publisher FASB
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6521494

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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Principles Board Opinion (APB)
-Number 12
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
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Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
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Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Net Loss

9 Months Ended

Sep. 30, 2012

Net Loss [Abstract]

Net Loss

Note 9:

Net Loss

Basic net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. For the periods presented, basic and diluted net loss per common share are identical. Potentially dilutive securities from stock options and warrants would be antidilutive as the Company incurred a net loss. The number of shares of common stock potentially issuable at September 30, 2012 and 2011 upon exercise or conversion that were not included in the computation of net loss per share totaled 10,477,533 and 6,739,948 shares, respectively.

Taxes

9 Months Ended

Sep. 30, 2012

Taxes [Abstract]

Taxes

Note 10:

Taxes

As discussed in Note 4 to the Company's audited financial statements contained in the 2011 Annual Report on Form 10-K, the Company has a valuation allowance against the full amount of its net deferred tax assets. The Company currently provides a valuation allowance against deferred tax assets when it is more likely than not that some portion or all of its deferred tax assets will not be realized. The Company has not recognized any unrecognized tax benefits in its balance sheet.

The Company is subject to income tax in the United States, the Republic of Ireland, and certain state jurisdictions. The Company has not been audited by the United States Internal Revenue Service (the "IRS"), international tax authorities, or any states in connection with income taxes. The periods from December 31, 2004 to December 31, 2011 remain open to examination by the IRS and state tax authorities. The period ending December 31, 2011 remains open to examination by the international tax authorities. Also note that the federal, state, and international tax authorities can generally reduce a net operating loss (but not create taxable income) for a period outside the statute of limitations in order to determine the correct amount of net operating loss which may be allowed as a deduction against income for a period within the statute of limitations.

For the nine months ended September 30, 2012, the Company recorded a state capital tax benefit of approximately $53,000. This benefit includes New York State investment and employment credits. The investment tax credits are generated from investments in buildings and tangible property located and used in New York State for production or research and development activities. The employment credits are generated by the creation of emerging technology jobs in New York State. Since the benefits are not determined based on income, the net benefit is reflected as a component of general and administrative expenses.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2012
Subsequent Events [Abstract]
Subsequent Events	Note 11: Subsequent Events During the fourth quarter through November 6, 2012, the Company sold approximately 1.7 million shares of our common stock under the Sales Agreement through an "at the market" equity offering program for net proceeds of approximately $3.0 million. The net proceeds will be used for general corporate purposes, including, but not limited to, commercialization of our products, obtaining regulatory approvals, funding of our clinical trials, capital expenditures and working capital. As of November 6, 2012, the Company has approximately $21.5 million remaining under the program. On October 15, 2012, Delcath announced that the U.S. Food and Drug Administration (FDA) has accepted the Company's New Drug Application (NDA) for its proprietary chemosaturation system with melphalan hydrochloride for injection. The FDA has designated the NDA for standard review. On November 1, 2012, Delcath announced that the U.S. Food and Drug Administration assigned a Prescription Drug User Fee Act (PDUFA) goal date of June 15, 2013, for substantive review of the Company's New Drug Application (NDA) of its proprietary chemosaturation system with melphalan hydrochloride for injection. The Company completed an evaluation of the impact of any subsequent events through the date financial statements were issued and determined there were no other subsequent events requiring disclosure in or adjustment to these financial statements.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2012
Summary of Significant Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The Company bases its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company's condensed consolidated balance sheets and the amount of expenses reported for each of its periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for derivative instrument liabilities, stock-based compensation, income taxes and research and operating expense accruals. Such assumptions and estimates are subject to change in the future as additional information becomes available or as circumstances are modified. Actual results could differ from these estimates.
Selling, General and Administrative Costs	Selling, General and Administrative Costs Selling, general and administrative costs include personnel costs and related expenses for the Company's sales, marketing, general management and administrative staff, recruitment, costs related to the Company's commercialization efforts in Europe, professional service fees, professional license and organizational fees, business development and certain general legal activities.
Research and Development Costs	Research and Development Costs Research and development costs include the costs of materials used for R&D and clinical trials, personnel costs associated with device and pharmaceutical R&D, clinical affairs, medical affairs, and regulatory affairs costs of outside services and applicable indirect costs incurred in the development of the Company's proprietary drug delivery system. All such costs are charged to expense when incurred.
Revenue Recognition	Revenue Recognition Revenue from product sales is generally recognized when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery has occurred; product price is fixed or determinable; and collection of the resulting receivable is reasonably assured. When obligations or contingencies remain after the products are shipped, such as training and certifying the treatment centers, revenue is deferred until the obligations or contingencies are satisfied.
Inventory	Inventory Prior to obtaining authorization to affix the CE Mark to its Generation Two Delcath Hepatic CHEMOSAT® Delivery System in April 2012, the Company expensed all of its inventory costs as research and development. Inventory as of September 30, 2012 includes finished goods and components relating to Generation Two of the Delcath Hepatic CHEMOSAT® Delivery System that have been purchased since April 2012. Therefore, as is common for companies transitioning from the development stage to commercial, to the extent that materials expensed prior to April 2012 are used in manufacturing finished goods for sale, the Company's cost of goods sold will be reduced accordingly.
Deferred Revenue Recognition	Deferred Revenue Recognition Deferred revenue on the accompanying condensed consolidated balance sheets includes payment received for product sales to a distributor and payment received upon execution of a research and distribution agreement with Chi-Fu Trading Co, Ltd. The Company will recognize the revenue related to product sales when its obligations under the agreement have been satisfied and will recognize the deferred revenue related to the research and distribution agreement over the expected obligation period of the agreement once this amount is reasonably determinable.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In May 2011, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2011-04 which was issued to provide a consistent definition of fair value and ensure that the fair value measurement and disclosure requirements are similar between U.S. GAAP and IFRS. ASU 2011-04 changes certain fair value measurement principles and enhances the disclosure requirements particularly for Level 3 fair value measurements. The Company adopted this guidance on January 1, 2012, and its adoption did not significantly impact the Company's consolidated financial statements. In June 2011, the FASB issued ASU 2011-05 which provides new guidance on the presentation of comprehensive income. ASU 2011-05 eliminates the option to report other comprehensive income and its components in the statement of changes in stockholders' equity and instead requires an entity to present the total of comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement or in two separate but consecutive statements. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, with early adoption permitted. The adoption of this ASU only requires a change in the format of the current presentation. The Company adopted this guidance on January 1, 2012, and its adoption did not significantly impact the Company's condensed consolidated financial statements. In December 2011, the Financial Accounting Standards Board ("FASB") issued ASU 2011-12, "Comprehensive Income". This update amends certain pending paragraphs in ASU No. 2011-05 "Presentation of Comprehensive Income", to effectively defer only those changes that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income for annual and interim financial statements for public, private, and non-profit entities. The Company adopted this guidance on January 1, 2012, and its adoption did not significantly impact the Company's condensed consolidated financial statements.

- Definition

Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6(b))
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-Name Accounting Standards Codification
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-Publisher AICPA
-Name Statement of Position (SOP)
-Number 81-1
-Paragraph 69-75
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 3, 5-10, 15, 16, 17
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Financial Reporting Release (FRR)
-Number 206
-Paragraph b
-Subparagraph i, ii
-Chapter 2

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-Name Accounting Research Bulletin (ARB)
-Number 43
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5

+ Details

- Definition

Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process.

+ References + Details

- Definition

Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.

+ References + Details

Inventories (Tables)

9 Months Ended

Sep. 30, 2012

Inventories [Abstract]

Schedule of inventories

Inventories consist of:

	June 30, 2012		December 31, 2011

Raw materials	$	178	$	-
Work-in-process		518		-
Finished goods		245		-
Totals		941		-

Stock Option Plans (Tables)

9 Months Ended

Sep. 30, 2012

Stock Option Plans [Abstract]

Stock option activity

	Stock Option Activity under the Plans
	Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Life (Years)
Outstanding at December 31, 2011	4,129,749		$	5.09		6.38
Granted	1,203,452			3.81
Expired	(400,000	)		4.95
Forfeited	(99,148	)		4.98
Outstanding at September 30, 2012	4,834,053			4.78		7.11

Assumptions used to determine the fair value of stock options

The assumptions used in the option pricing model to determine the fair value of stock options awarded to employees are as follows:

	Nine Months ended September 30,
	2012	2011
Dividend yield	None	None
Expected volatility	77.37% - 84.47%	72.16% - 75.35%
Weighted average volatility	79.87%	73.62%
Risk-free interest rates	0.78% - 1.49%	1.45% - 3.11%
Expected life (in years)	6.0	5.0 - 6.0

Restricted stock activity

Restricted stock activity for the nine month period ended September 30, 2012 is as follows:

	Restricted Stock Activity
	Restricted Stock			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2011		193,532			5.84
Granted		428,920			2.84
Vested		(91,910	)		5.85
Forfeited		(15,431	)		4.19
Non-vested at September 30, 2012		515,111			3.38

Assets and Liabilities Measured at Fair Value (Tables)

9 Months Ended

Sep. 30, 2012

Assets and Liabilities Measured at Fair Value [Abstract]

Schedule of fair value of the Warrants

	2012 Warrants			2009 Warrants
Expected volatility		83.54	%		85.83	%
Risk-free interest rates		0.28	%		0.21	%
Expected life (in years)		2.7			1.7

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and Liabilities Measured at Fair Value on a Recurring Basis at September 30, 2012

(in thousands)

	Level 1		Level 2		Level 3		Balance at September 30, 2012
Assets
Money market funds	$	1,967		-		-	$	1,967
Total Assets	$	1,967		-		-	$	1,967
Liabilities
Warrant liability	$	-		-	$	4,561	$	4,561
Total Liabilities	$	-		-	$	4,561	$	4,561

Fair Value Measurements Using Significant Unobservable Inputs

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

(in thousands)

	Warrant Liability
Beginning balance	$	2,439
Total change in the fair value of the liability included in earnings		(1,025	)
Fair value of warrants issued		4,055
Fair value of warrants exercised or expired		(908	)
Ending balance	$	4,561

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 19
-Subparagraph a, b, c(1), d(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 14
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15
-Subparagraph b-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph c(2), d, e, f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph a, c(1), c(2), c(3), d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References + Details

Cost of Goods Sold (Details)	9 Months Ended
Cost of Goods Sold (Details)	Sep. 30, 2012 USD ($)
Cost of Goods Sold [Abstract]
Cost of sales related to recognized revenue	$ 0

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Dec. 31, 2011
Inventories [Abstract]
Raw materials	$ 178	$ 0
Work-in-process	518	0
Finished goods	245	0
Totals	941	0
Inventory, Net	$ 941	$ 0

Stock Option Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for options to be vested from date of grant, maximum		10 years
Stock Options [Roll Forward]
Outstanding at December 31, 2011 (in shares)		4,129,749
Granted (in shares)		1,203,452
Expired (in shares)		(400,000)
Forfeited (in shares)		(99,148)
Outstanding at September 30, 2012 (in shares)	4,834,053	4,834,053		4,129,749
Weighted Average Exercise Price [Roll Forward]
Outstanding at December 31, 2011 (in dollars per share)		$ 5.09
Granted (in dollars per share)		3.81
Expired (in dollars per share)		4.95
Forfeited (in dollars per share)		4.98
Outstanding at September 30, 2012 (in dollars per share)	$ 4.78	$ 4.78		$ 5.09
Weighted Average Remaining Life [Abstract]
Weighted Average Remaining Life (Years)		6 years 4 months 17 days		7 years 1 month 10 days
Recognized compensation expense		$ 2,159	$ 2,921
Restricted Stock [Member]
Restricted Stock [Roll Forward]
Outstanding at December 31, 2011 (in shares)		193,532
Granted (in shares)		428,920
Vested (in shares)		(91,910)
Forfeited (in shares)		(15,431)
Outstanding at September 30, 2012 (in shares)	515,111	515,111		193,532
Weighted Average Exercise Price [Roll Forward]
Outstanding at December 31, 2011 (in dollars per share)		$ 5.84
Granted (in dollars per share)		2.84
Vested (in dollars per share)		5.85
Forfeited (in dollars per share)		4.19
Outstanding at September 30, 2012 (in dollars per share)	$ 3.38	$ 3.38		$ 5.84
Stock Options [Member]
Assumptions used to determine the fair value of stock options [Abstract]
Dividend yield (in hundredths)		0.00%	0.00%
Weighted average volatility (in hundredths)		79.87%	73.62%
Expected life		6 years
Minimum [Member] \| Stock Options [Member]
Assumptions used to determine the fair value of stock options [Abstract]
Expected volatility (in hundredths)		77.37%	72.16%
Risk-free interest rates (in hundredths)		0.78%	1.45%
Expected life			5 years
Maximum [Member] \| Stock Options [Member]
Assumptions used to determine the fair value of stock options [Abstract]
Expected volatility (in hundredths)		84.47%	75.35%
Risk-free interest rates (in hundredths)		1.49%	3.11%
Expected life			6 years
2004 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for the issuance (in shares)	3,000,000	3,000,000
2009 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for the issuance (in shares)	6,500,000	6,500,000
Increase in stock options reserved by incentive plan		2,300,000
Number of shares reserved prior to increase	4,200,000	4,200,000
Options Granted in Previous Years [Member]
Weighted Average Remaining Life [Abstract]
Recognized compensation expense	$ 300	$ 1,100
Options Granted in Previous Years [Member] \| Restricted Stock [Member]
Weighted Average Remaining Life [Abstract]
Recognized compensation expense	100	400
Options Granted in Current Year [Member]
Weighted Average Remaining Life [Abstract]
Recognized compensation expense	500	1,000
Options Granted in Current Year [Member] \| Restricted Stock [Member]
Weighted Average Remaining Life [Abstract]
Recognized compensation expense	$ 200	$ 400

Assets and Liabilities Measured at Fair Value (Details) $ in Thousands	1 Months Ended			3 Months Ended	9 Months Ended
	May 31, 2012 USD ($) $ / shares shares	Jun. 30, 2009 USD ($) $ / shares shares	Sep. 30, 2007 USD ($) $ / shares shares	Sep. 30, 2012 USD ($) shares	Sep. 30, 2012 USD ($) shares
Derivative warrant liability [Abstract]
Number of inputs used for valuation of warrants					6
Sale of common stock (in shares) \| shares	15,333,340	869,565	3,833,108		6,500,000
Issuance of warrants to purchase common shares (in shares) \| shares	4,600,002
Proceeds from issuance of common stock	$ 21,100	$ 2,700	$ 13,300		$ 14,600
Gross proceeds from issuance of common stock	21,500	3,000
Pre-tax derivative instrument expense					1,000
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Roll Forward]
Beginning balance					2,439
Total change in the fair value of the liability included in earnings					(1,025)
Fair value of warrants issued					4,055
Fair value of warrants exercised or expired					(908)
Ending balance				$ 4,561	4,561
Recurring [Member]
Assets [Abstract]
Total Assets				1,967	1,967
Liabilities [Abstract]
Total Liabilities				4,561	4,561
Recurring [Member] \| Level 1 [Member]
Assets [Abstract]
Total Assets				1,967	1,967
Liabilities [Abstract]
Total Liabilities				0	0
Recurring [Member] \| Level 2 [Member]
Assets [Abstract]
Total Assets				0	0
Liabilities [Abstract]
Total Liabilities				0	0
Recurring [Member] \| Level 3 [Member]
Assets [Abstract]
Total Assets				0	0
Liabilities [Abstract]
Total Liabilities				4,561	4,561
Recurring [Member] \| Warrant Liability [Member]
Liabilities [Abstract]
Total Liabilities				4,561	4,561
Recurring [Member] \| Warrant Liability [Member] \| Level 1 [Member]
Liabilities [Abstract]
Total Liabilities				0	0
Recurring [Member] \| Warrant Liability [Member] \| Level 2 [Member]
Liabilities [Abstract]
Total Liabilities				0	0
Recurring [Member] \| Warrant Liability [Member] \| Level 3 [Member]
Liabilities [Abstract]
Total Liabilities				4,561	4,561
Recurring [Member] \| Money Market Account [Member]
Assets [Abstract]
Total Assets				1,967	1,967
Recurring [Member] \| Money Market Account [Member] \| Level 1 [Member]
Assets [Abstract]
Total Assets				1,967	1,967
Recurring [Member] \| Money Market Account [Member] \| Level 2 [Member]
Assets [Abstract]
Total Assets				0	0
Recurring [Member] \| Money Market Account [Member] \| Level 3 [Member]
Assets [Abstract]
Total Assets				$ 0	$ 0
2012 Warrants [Member]
Derivative warrant liability [Abstract]
Issuance of warrants to purchase common shares (in shares) \| shares				4,600,002	4,600,002
Proceeds from issuance of common stock	$ 3,400
Exercise price of warrants (in dollars per share) \| $ / shares	1.65
Warrants outstanding (in shares) \| shares	4,600,002
Term of warrant	3 years
Expected volatility (in hundredths)					83.54%
Risk free interest rate (in hundredths)					0.28%
Expected life					2 years 8 months 12 days
2007 Warrants [Member]
Derivative warrant liability [Abstract]
Issuance of warrants to purchase common shares (in shares) \| shares			1,916,554
Proceeds from issuance of common stock			$ 4,300
Exercise price of warrants (in dollars per share) \| $ / shares			1.49
Expiration date of warrants			Sep. 21, 2012
Warrants exercised \| shares				3.0
Warrants outstanding (in shares) \| shares			3,392,592
2009 Warrants [Member]
Derivative warrant liability [Abstract]
Issuance of warrants to purchase common shares (in shares) \| shares				1,043,478	1,043,478
Proceeds from issuance of common stock		$ 2,200
Exercise price of warrants (in dollars per share) \| $ / shares		1.33
Warrants outstanding (in shares) \| shares		1,043,478
Term of warrant		5 years
Expected volatility (in hundredths)					85.83%
Risk free interest rate (in hundredths)					0.21%
Expected life					1 year 8 months 12 days

Common Stock (Details) - USD ($)	1 Months Ended			9 Months Ended
Common Stock (Details) - USD ($)	May 31, 2012	Jun. 30, 2009	Sep. 30, 2007	Sep. 30, 2012	Dec. 31, 2011	Dec. 29, 2011
Common Stock [Abstract]
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01	$ 0.01
Aggregate proceeds from sale of common stock under equity offering program, maximum						$ 39,750,000
Common stock sold through the program (in shares)	15,333,340	869,565	3,833,108	6,500,000
Issuance of warrants to purchase common shares (in shares)	4,600,002
Gross proceeds from issuance of common stock	$ 21,500,000	$ 3,000,000
Proceeds from issuance of common stock	$ 21,100,000	$ 2,700,000	$ 13,300,000	$ 14,600,000
Amount available under the program, assuming sufficient shares are available to be issued				$ 24,500,000

Net Loss (Details) - shares	9 Months Ended
Net Loss (Details) - shares	Sep. 30, 2012	Sep. 30, 2011
Net Loss [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	10,477,533	6,739,948

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Taxes (Details) - USD ($)	6 Months Ended	9 Months Ended
Taxes (Details) - USD ($)	Jun. 30, 2012	Sep. 30, 2012
Income Tax Contingency [Line Items]
State capital tax benefit	$ 53,000
IRS [Member]
Income Tax Contingency [Line Items]
Tax year open for examination		December 31, 2004 to December 31, 2011
State Authorities [Member]
Income Tax Contingency [Line Items]
Tax year open for examination		December 31, 2011

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6509736

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Subsequent Events (Details) - USD ($) $ in Millions	1 Months Ended			9 Months Ended
Subsequent Events (Details) - USD ($) $ in Millions	May 31, 2012	Jun. 30, 2009	Sep. 30, 2007	Sep. 30, 2012
Subsequent Event [Line Items]
Common stock sold through the program (in shares)	15,333,340	869,565	3,833,108	6,500,000
Proceeds from issuance of common stock	$ 21.1	$ 2.7	$ 13.3	$ 14.6
Amount available under the program assuming sufficient shares are available to be issued				$ 24.5
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock sold through the program (in shares)				1,700,000
Proceeds from issuance of common stock				$ 3.0
Amount available under the program assuming sufficient shares are available to be issued				$ 21.5