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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2013	May 07, 2013
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		96,725,763
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2013

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2013	Dec. 31, 2012
Current assets
Cash and cash equivalents	$ 42,804	$ 23,726
Accounts receivables	81	144
Inventories	1,190	1,105
Prepaid expenses and other current assets	1,667	1,457
Total current assets	45,742	26,432
Property, plant and equipment, net	3,766	4,042
Total assets	49,508	30,474
Current liabilities
Accounts payable	1,511	939
Accrued expenses	4,078	5,790
Warrant liability	5,485	3,427
Total current liabilities	11,074	10,156
Deferred revenue	9	309
Commitments and contingencies
Stockholders' equity
Preferred stock, $.01 par value; 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2013 and December 31, 2012	0	0
Common stock, $.01 par value; 170,000,000 shares authorized; 91,212,524 and 76,849,033 shares issued and 91,184,424 and 76,820,933 outstanding at March 31, 2013 and December 31, 2012, respectively	912	768
Common stock to be issued	56
Additional paid-in capital	248,760	218,063
Accumulated deficit	(211,653)	(198,808)
Treasury stock, at cost; 28,100 shares at March 31, 2013 and December 31, 2012	(51)	(51)
Accumulated other comprehensive income	401	37
Total stockholders' equity	38,425	20,009
Total liabilities and stockholders' equity	$ 49,508	$ 30,474

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2013	Dec. 31, 2012
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)	91,212,524	76,849,033
Common stock, shares outstanding (in shares)	91,184,424	76,820,933
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
	Mar. 31, 2013	Mar. 31, 2012
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) [Abstract]
Product revenue	$ 81	$ 0
Other revenues	300	0
Total revenue	381	0
Costs of goods sold	(31)	0
Gross profit	350	0
Operating expenses
Selling, general and administrative	6,083	7,423
Research and development	4,469	7,131
Total operating expenses	10,552	14,554
Operating loss	(10,202)	(14,554)
Change in fair value of warrant liability, net	(2,272)	(338)
Interest income	10	3
Other expense and interest expense	(381)	0
Net loss	$ (12,845)	$ (14,889)
Common share data:
Basic and diluted loss per share (in dollars per share)	$ (0.15)	$ (0.31)
Weighted average number of basic and diluted common shares outstanding (in shares)	85,487,606	48,341,670
Other comprehensive income (loss):
Foreign currency translation adjustments	$ 364	$ 0
Comprehensive loss	$ (12,481)	$ (14,889)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Cash flows from operating activities:
Net loss	$ (12,845)	$ (14,889)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock option compensation expense	467	703
Restricted stock compensation expense	197	230
Depreciation expense	298	322
Warrant liability fair value adjustment	2,272	338
Non-cash interest income	(2)	(3)
Changes in assets and liabilities:
Increase in prepaid expenses and other current assets	(248)	(111)
Decrease in accounts receivable	85	0
Increase in inventories	(97)	0
Decrease in accounts payable and accrued expenses	(764)	(772)
Decrease in deferred revenue	(300)	0
Net cash used in operating activities	(10,937)	(14,182)
Cash flows from investing activities:
Purchase of property, plant, and equipment	(34)	(572)
Purchase of short-term investments and marketable equity securities	0	(1,743)
Proceeds from maturities of short-term investments	0	2,988
Net cash (used in) provided by investing activities	(34)	673
Cash flows from financing activities:
Net proceeds from sale of stock and exercise of stock options and warrants	30,018	4,782
Net cash provided by financing activities	30,018	4,782
Foreign currency effects on cash	31	0
(Decrease) increase in cash and cash equivalents	19,078	(8,727)
Cash and cash equivalents at beginning of period	23,726	25,777
Cash and cash equivalents at end of period	42,804	17,050
Supplemental non-cash activities:
Fair value of warrants issued	0	153
Fair value of warrants exercised	$ 214	$ 0

Description of Business

3 Months Ended

Mar. 31, 2013

Description of Business [Abstract]

Description of Business

(1)	Description of Business

Delcath is a specialty pharmaceutical and medical device company focused on oncology. The Company's proprietary technology 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. Its initial focus is on the treatment of primary and metastatic liver cancers. The Company believes that the proprietary technology is a platform that may have broader applicability, including the use of other drugs to treat the liver, as well as for the treatment of cancers in other organs and regions of the body. In 2010, the Company announced that its randomized Phase 3 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 has also completed a multi-arm Phase 2 trial to treat other liver cancers.

Outside of the United States, the Company's proprietary system to deliver and filter melphalan hydrochloride is marketed as a device under the trade name Delcath Hepatic CHEMOSAT® Delivery System (CHEMOSAT Delivery System for Melphalan). In April 2012, the Company obtained authorization to affix a CE Mark for the Generation Two CHEMOSAT Delivery System for Melphalan. The right to affix the CE Mark allows the Company to market and sell the CHEMOSAT System for Melphalan in Europe.

In the United States, the Company's proprietary system for the administration of melphalan hydrochloride to the liver is considered a combination drug and device product, and is regulated as a drug by the United States Food and Drug Administration (FDA). The Company submitted its New Drug Application (NDA) to the FDA on August 15, 2012, with the proposed trade name Melblez KitTM (Melblez (melphalan) for Injection for use with the Delcath Hepatic Delivery System) (Melblez Kit), and is seeking approval for commercial sale of the Melblez Kit in the treatment of patients with unresectable metastatic ocular melanoma in the liver. The NDA was accepted for filing by the FDA on October 15, 2012. On April 3, 2013 the FDA extended its Prescription Drug User Fee Act (PDUFA) goal date to September 13, 2013. On May 2, 2013 the FDA's Oncologic Drugs Advisory Committee (ODAC) voted 16 to 0 with no abstentions that benefits for treatment with the Melblez Kit (that contains the Clark or Generation 1 filter) do not outweigh the risk associated with the procedure. The company intends to meet with the FDA to discuss and clarify regulatory requirements for the approval of the Melblez Kit containing the Generation 2 filter for unreseciable metastalic ocular mclanoma in the liver or other indications. The FDA is not bound by the recommendation of its advisory committee, but will consider the committee's guidance as it evaluates the Melblez Kit NDA. Declath will continue to work closely with the FDA throughout its ongoing evaluation of the Melblez Kit. There can be no assurance that the FDA will ultimately approve the Company's NDA.

The Company has incurred losses since inception. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales. Management believes that its capital resources are adequate to fund operations for the next twelve months, but anticipates that additional working capital may 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

3 Months Ended

Mar. 31, 2013

Basis of Condensed Consolidated Financial Statement Presentation [Abstract]

Basis of Condensed Consolidated Financial Statement Presentation

(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 March 31, 2013 and 2012.

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, 2012, which are contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 as filed with the Securities and Exchange Commission (the "SEC") on March 13, 2013.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2013

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(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, valuation of inventory, income taxes 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.

Cash Equivalents and Concentrations of Credit Risk

The Company considers investments with original maturities of three months or less at date of acquisition to be cash equivalents. The Company has deposits that exceed amounts insured by the Federal Deposit Insurance Corporation (FDIC), however, the Company does not consider this a significant concentration of credit risk based on the strength of the financial institution.

Accounts Receivable

Accounts receivable, principally trade, are generally due within 30 days and are stated at amounts due from customers. As the Company's commercial activities expand, collections and payments from customers will be monitored and a provision for estimated credit losses will be created based upon historical experience and specific customer collection issues that may be identified. At March 31, 2013 there were no accounts receivable determined to be uncollectable.

Inventories

Inventories are valued at the lower of cost or market value using the first-in, first-out method. The reported net value of inventory includes finished saleable products, work-in-process, and raw materials that will be sold or used in future periods. The Company reserves for expired, obsolete, and slow-moving 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 March 31, 2013 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 adjusted accordingly.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, less accumulated depreciation. The Company provides for depreciation on a straight line basis over the estimated useful lives of the assets which range from three to seven years. Leasehold improvements will be amortized over the shorter of the lease term or the estimated useful life of the related assets when they are placed into service. Maintenance and repairs are charged to operations as incurred. Expenditures which substantially increase the useful lives of the related assets are capitalized.

Derivative Instrument Liability

The Company accounts for derivative instruments in accordance with Accounting Standards Codification (ASC) 815, which establishes accounting and reporting standards for derivative instruments and hedging activities, including certain derivative instruments embedded in other financial instruments or contracts and requires recognition of all derivatives on the balance sheet at fair value, regardless of the hedging relationship designation. Accounting for changes in the fair value of the derivative instruments depends on whether the derivatives qualify as hedge relationships and the types of relationships designated are based on the exposures hedged. At March 31, 2013 and 2012, the Company did not have any derivative instruments that were designated as hedges.

Fair Value Measurements

The Company adopted ASC 820, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements; accordingly, the standard does not require any new fair value measurements of reported balances.

ASC 820 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access.

Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals.

Level 3 inputs are unobservable inputs for the asset or liability, which is typically based on an entity's own assumptions, as there is little, if any, related market activity.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

Deferred Revenue

Deferred revenue on the accompanying condensed consolidated balance sheets includes payment received for product sales to a distributor. 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. 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 once the milestones are satisfied or over the expected obligation period of the agreement once this amount is reasonably determinable.

Product 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. The company recognizes product revenues derived from either direct sales to end hospital customers or indirect sales to distributors when the end hospital customers have completed trainings and are certified to perform patient treatments using our product.

Other Revenue

Other revenue is related to the recognition of previously deferred revenue upon the completion of certain requirements under the Research and Distribution Agreement with Chi-Fu Trading Co., Ltd.

Selling, General and Administrative

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, business development and certain general legal activities.

Research and Development

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, medical science liaisons, 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.

Stock Based Compensation

The Company accounts for its share-based compensation in accordance with the provisions of ASC 718, which establishes accounting for equity instruments exchanged for employee services and ASC 505-50, which establishes accounting for equity-based payments to non-employees. Under the provisions of ASC 718, share-based compensation is measured at the grant date, based upon the fair value of the award, and is recognized as an expense over the option holders' requisite service period (generally the vesting period of the equity grant). The Company is required to record compensation cost for all share-based payments granted to employees based upon the grant date fair value, estimated in accordance with the provisions of ASC 718. Under the provisions of ASC 505-50, measurement of compensation cost related to common shares issued to non-employees for services is based on the value of the services provided or the fair value of the shares issued. The measurement of non-employee stock-based compensation is subject to periodic adjustment as the underlying equity instrument vests. The Company expensed its share-based compensation for share-based payments granted under the accelerated method, which treats each vesting tranche as if it were an individual grant.

The Company periodically grants stock options for a fixed number of shares of common stock to its employees, directors and non-employee contractors, with an exercise price greater than or equal to the fair market value of Delcath's common stock at the date of the grant. The Company estimates the fair value of stock options using an option pricing model. Key inputs used to estimate the fair value of stock options include the exercise price of the award, the expected post-vesting option life, the expected volatility of Delcath's stock over the option's expected term, the risk-free interest rate over the option's expected term, and Delcath's expected annual dividend yield. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by persons who receive equity awards.

Recently Adopted Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2013-02 which requires additional disclosures regarding the reporting of reclassifications out of accumulated other comprehensive income. ASU 2013-02 requires an entity to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. This guidance is effective for reporting periods beginning after December 15, 2012. The Company adopted this guidance effective January 1, 2013. The Company's adoption of this standard did not have a material impact on its consolidated financial statements.

In March 2013, the FASB issued ASU 2013-05, which permits an entity to release cumulative translation adjustments into net income when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided, or, if a controlling financial interest is no longer held. The revised standard is effective for fiscal years beginning after December 15, 2013; however, early adoption is permitted. The Company does not expect adoption of this ASU to materially impact its consolidated financial statements.

Inventories

3 Months Ended

Mar. 31, 2013

Inventories [Abstract]

Inventories

(4)	Inventories

Inventories consist of:

(in thousands)	March 31, 2013		December 31, 2012
Raw materials	$	283	$	197
Work-in-process		631		405
Finished goods		276		503
Total	$	1,190	$	1,105

Property, Plant, and Equipment

3 Months Ended

Mar. 31, 2013

Property, Plant, and Equipment [Abstract]

Property, Plant, and Equipment

(5)	Property, Plant, and Equipment

Property, plant, and equipment consists of:

(in thousands)	March 31, 2013			December 31, 2012
Leaseholds	$	1,715		$	1,716
Furniture		952			952
Equipment		1,483			1,473
Computers		2,154			2,141
Buildings and land		603			603
		6,907			6,885
Accumulated depreciation		(3,141	)		(2,843)
Total	$	3,766		$	4,042

Depreciation expense for the three months ended March 31, 2013 and 2012 was $0.3 million and $0.3 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Stock Options Plans

3 Months Ended

Mar. 31, 2013

Stock Options Plans [Abstract]

Stock Options Plans

(6)	Stock Options 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. 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 three months ended March 31, 2013 is as follows:

	Stock Option Activity under the Plans
	Stock Options			Exercise Price per Share		Weighted Average Exercise Price		Weighted Average Remaining Life (Years)
Outstanding at December 31, 2012		4,788,887		$	1.23-$15.54	$	4.79		6.88
Granted		921,220		$	1.31-$2.13		2.08
Forfeited		(115,945	)	$	1.82-$8.50		3.62
Outstanding at March 31, 2013		5,594,162		$	1.23-$15.54	$	4.37		7.13

For the three months ended March 31, 2013, the Company recognized compensation expense of approximately $0.5 million relating to stock options granted to employees. For the three months ended March 31, 2012, the Company recognized compensation expense of approximately $0.7 million relating to stock options granted to employees.

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:

	Three Months Ended March 31,
	2013	2012
Dividend yield	None	None
Expected volatility	86.16% - 86.51%	77.37% - 79.24%
Weighted average volatility	86.20%	78.75%
Risk-free interest rates	1.16% - 1.36%	1.03% - 1.49%
Expected life (in years)	6.8	6.0

No dividend yield was assumed because the Company has never paid a cash dividend on its common stock and does not expect to pay dividends in the foreseeable future. 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 option term for grants made prior to June 30, 2012 was developed based on the mid-point between the vesting date and the expiration date of each respective grant as permitted under (ASC) 718. This method of determining the expected holding period was utilized because the Company did not have sufficient historical experience from which to estimate the period. The expected option term for grants made since July 1, 2012 was calculated based on actual historical results.

Restricted stock activity for the three months ended March 31, 2013 is as follows:

	Restricted Stock Activity under the Plans
	Restricted Stock			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2012		501,468		$	3.26
Granted		11,850			1.42
Vested		(85,378	)		4.99
Forfeited		(17,123	)		3.70
Non-vested at March 31, 2013		410,817		$	2.82

For each of the three months ended March 31, 2013 and March 31, 2012, the Company recognized compensation expense of $0.2 million relating to restricted stock granted to employees.

- 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

3 Months Ended

Mar. 31, 2013

Assets and Liabilities Measured at Fair Value [Abstract]

Assets and Liabilities Measured at Fair Value

(7)	Assets and Liabilities Measured at Fair Value

Derivative Warrant Liability

The Company allocated part of the proceeds of a private placement and a public offering of the Company's common stock to warrants issued in connection with such 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 common stock on the date of valuation, the exercise price of the warrant, 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 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 (ASC 820-10-35-40). The riskless rate of return is a Level 2 input as defined in ASC 820-10-35-48, while the historical volatility is a Level 3 input as defined in 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 June 2009, the Company completed the sale of 0.9 million shares of its common stock and the issuance of warrants to purchase approximately 1.0 million common shares (the "2009 Warrants") pursuant to a subscription agreement with a single investor. The Company received gross 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. As required by the 2009 Warrant agreement, the exercise price of the warrants was adjusted following the Company's December 2012 sale of common stock. At March 31, 2013, the 2009 Warrants were exercisable at $1.20 per share with approximately 1.0 million 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 (333-143280 and 333-159857).

In May 2012, the Company completed the sale of 15.3 million shares of its common stock and the issuance of warrants to purchase 4.6 million 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. As required by the 2012 Warrant agreement, the exercise price of the warrants was adjusted following the Company's December 2012 sale of common stock. At March 31, 2013, the 2012 Warrants were exercisable at $1.20 per share with approximately 4.4 million 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 (333-178819).

For the three months ended March 31, 2013, the Company recorded pre-tax derivative instrument expense of $2.3 million. The resulting derivative instrument liabilities totaled $5.5 million at March 31, 2013. Management expects that the warrants will either be exercised or expire worthless. The fair value of the Warrants at March 31, 2013 was determined by using an option pricing model assuming the following:

	2012 Warrants			2009 Warrants
Expected volatility		83.33	%		83.43	%
Risk-free interest rates		0.27	%		0.16	%
Expected life (in years)		2.25			1.25

Money Market Funds

The table below presents the Company's assets and liabilities measured at fair value on a recurring basis as of March 31, 2013, 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 March 31, 2013

(in thousands)

	Level 1		Level 2		Level 3		Balance at March 31, 2013
Assets
Money market funds	$	1,956	$	—	$	—	$	1,956
Liabilities
Warrant liability	$	—	$	—	$	5,485	$	5,485

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

(in thousands)

	Warrant Liability
Beginning balance as of December 31, 2012	$	3,427
Total change in the liability included in earnings		2,272
Fair value of warrants exercised		(214	)
Ending balance as of March 31, 2013	$	5,485

- 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
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-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
-Paragraph 17-22, 27, 28
-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
-Paragraph 15A
-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

3 Months Ended

Mar. 31, 2013

Common Stock [Abstract]

Common Stock

(8)	Common Stock

In December 2012, the Company entered into a Common Stock Purchase Agreement (Purchase Agreement) with Terrapin Opportunity, L.P. (Terrapin) for a committed equity financing facility (CEFF) program. The Purchase Agreement provides that Terrapin is committed to purchase up to $35,000,000 of our common stock over the 24-month term of the Purchase Agreement. During the three months ended March 31, 2013, the Company sold approximately 5.6 million shares of its common stock through the program for proceeds of approximately $9.0 million. Net proceeds after related expenses were approximately $8.9 million. Due to the timing of the transaction settlement, the funds related to the sale of the Company's common stock were received prior to the end of the quarter but the shares were not issued until April 1, 2013. The shares were issued pursuant to an effective registration statement on Form S-3 (333-183675) and are reported on the condensed consolidated balance sheet in Common Stock to be Issued. These shares are appropriately excluded from shares issued and outstanding at March 31, 2013. 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. In addition to the $9.0 million raised during the three months ended March 31, 2013, the Company previously raised $2.1 million under the CEFF program. As a result, there was approximately $23.9 million available under this CEFF program as of March 31, 2013.

During the three months ended March 31, 2013, the Company sold approximately 14.2 million shares of its common stock under a Sales Agreement with Cowen and Company, LLC through an "at the market" equity offering program for net proceeds of approximately $20.9 million before related expenses. 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. There are no shares of common stock of the company remaining for sale under the program or registered pursuant to registration statement 333-165677.

On March 13, 2013, 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 $50,000,000, from time to time, through an "at the market" equity offering program under which Cowen and Company, LLC will act as sales agent. 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.

During the three months ended March 31, 2013, the Company issued 0.2 million shares of its common stock upon the exercise of 2012 Warrants for proceeds of approximately $0.2 million.

- 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
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 7: 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=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
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-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
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-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

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
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-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.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 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.

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
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

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
-Paragraph 2, 3, 4, 5, 6, 7, 8
-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

3 Months Ended

Mar. 31, 2013

Net Loss [Abstract]

Net Loss

(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 March 31, 2013 and 2012 upon exercise or conversion that were not included in the computation of net loss per share totaled 11,038,233 and 7,760,087 shares, respectively.

Taxes

3 Months Ended

Mar. 31, 2013

Taxes [Abstract]

Taxes

(10)

Taxes

As discussed in Note 11 to the Company's audited financial statements contained in the 2012 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, 2009 to December 31, 2012 remain open to examination by the IRS and state tax authorities. The periods from December 31, 2011 to December 31, 2012 remain open to examination by the Republic of Ireland. 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.

- 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

3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

(11)	Subsequent Events

The Company completed an evaluation of the impact of any subsequent events through the date financial statements were issued and determined there were no subsequent events requiring disclosure in or adjustment to these financial statements.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2013

Summary of Significant Accounting Policies [Abstract]

Use of Estimates

Cash Equivalents and Concentrations of Credit Risk

Accounts Receivable

Inventories

Property, Plant and Equipment

Derivative Instrument Liability

Fair Value Measurements

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access.

Level 3 inputs are unobservable inputs for the asset or liability, which is typically based on an entity's own assumptions, as there is little, if any, related market activity.

Deferred Revenue

Product Revenue Recognition

Other Revenue

Other revenue is related to the recognition of previously deferred revenue upon the completion of certain requirements under the Research and Distribution Agreement with Chi-Fu Trading Co., Ltd.

Selling, General and Administrative

Research and Development

Stock Based Compensation

Recently Adopted Accounting Pronouncements

Inventories (Tables)

3 Months Ended

Mar. 31, 2013

Inventories [Abstract]

Schedule of inventories

Inventories consist of:

(in thousands)	March 31, 2013		December 31, 2012
Raw materials	$	283	$	197
Work-in-process		631		405
Finished goods		276		503
Total	$	1,190	$	1,105

Property, Plant, and Equipment (Tables)

3 Months Ended

Mar. 31, 2013

Property, Plant, and Equipment [Abstract]

Components of property, plant and equipment

Property, plant, and equipment consists of:

(in thousands)	March 31, 2013			December 31, 2012
Leaseholds	$	1,715		$	1,716
Furniture		952			952
Equipment		1,483			1,473
Computers		2,154			2,141
Buildings and land		603			603
		6,907			6,885
Accumulated depreciation		(3,141	)		(2,843)
Total	$	3,766		$	4,042

Stock Options Plans (Tables)

3 Months Ended

Mar. 31, 2013

Stock Options Plans [Abstract]

Stock option activity

	Stock Option Activity under the Plans
	Stock Options			Exercise Price per Share		Weighted Average Exercise Price		Weighted Average Remaining Life (Years)
Outstanding at December 31, 2012		4,788,887		$	1.23-$15.54	$	4.79		6.88
Granted		921,220		$	1.31-$2.13		2.08
Forfeited		(115,945	)	$	1.82-$8.50		3.62
Outstanding at March 31, 2013		5,594,162		$	1.23-$15.54	$	4.37		7.13

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:

	Three Months Ended March 31,
	2013	2012
Dividend yield	None	None
Expected volatility	86.16% - 86.51%	77.37% - 79.24%
Weighted average volatility	86.20%	78.75%
Risk-free interest rates	1.16% - 1.36%	1.03% - 1.49%
Expected life (in years)	6.8	6.0

Restricted stock activity

Restricted stock activity for the three months ended March 31, 2013 is as follows:

	Restricted Stock Activity under the Plans
	Restricted Stock			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2012		501,468		$	3.26
Granted		11,850			1.42
Vested		(85,378	)		4.99
Forfeited		(17,123	)		3.70
Non-vested at March 31, 2013		410,817		$	2.82

Assets and Liabilities Measured at Fair Value (Tables)

3 Months Ended

Mar. 31, 2013

Assets and Liabilities Measured at Fair Value [Abstract]

Schedule of fair value of the warrants

	2012 Warrants			2009 Warrants
Expected volatility		83.33	%		83.43	%
Risk-free interest rates		0.27	%		0.16	%
Expected life (in years)		2.25			1.25

Assets and liabilities measured at fair value on a recurring basis

Assets and Liabilities Measured at Fair Value on a Recurring Basis at March 31, 2013

(in thousands)

	Level 1		Level 2		Level 3		Balance at March 31, 2013
Assets
Money market funds	$	1,956	$	—	$	—	$	1,956
Liabilities
Warrant liability	$	—	$	—	$	5,485	$	5,485

Fair value measurements using significant unobservable inputs

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

(in thousands)

	Warrant Liability
Beginning balance as of December 31, 2012	$	3,427
Total change in the liability included in earnings		2,272
Fair value of warrants exercised		(214	)
Ending balance as of March 31, 2013	$	5,485

- 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

Summary of Significant Accounting Policies (Details)	3 Months Ended
Summary of Significant Accounting Policies (Details)	Mar. 31, 2013 USD ($)
Cash Equivalents and Concentrations of Credit Risk [Abstract]
Maximum number of months of investments with original maturities from date of acquisition to be cash equivalents	3 months
Accounts Receivable [Abstract]
Uncollectable, accounts receivable	$ 0
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Dec. 31, 2012
Inventories [Abstract]
Raw materials	$ 283	$ 197
Work-in-process	631	405
Finished goods	276	503
Total	$ 1,190	$ 1,105

Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 6,907		$ 6,885
Accumulated depreciation	(3,141)		(2,843)
Total	3,766		4,042
Depreciation expense	298	$ 322
Leaseholds [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,715		1,716
Furniture [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	952		952
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,483		1,473
Computers [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,154		2,141
Buildings and Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 603		$ 603

Stock Options Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2012
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, 2012 (in shares)	4,788,887
Granted (in shares)	921,220
Forfeited (in shares)	(115,945)
Outstanding at March 31, 2013 (in shares)	5,594,162		4,788,887
Weighted Average Exercise Price [Roll Forward]
Outstanding at December 31, 2012 (in dollars per share)	$ 4.79
Granted (in dollars per share)	2.08
Forfeited (in dollars per share)	3.62
Outstanding at March 31, 2013 (in dollars per share)	$ 4.37		$ 4.79
Weighted Average Remaining Life [Abstract]
Weighted Average Remaining Life	7 years 1 month 17 days		6 years 10 months 17 days
Recognized compensation expense	$ 467	$ 703
Restricted Stock [Member]
Weighted Average Remaining Life [Abstract]
Recognized compensation expense	$ 200	$ 200
Restricted Stock [Roll Forward]
Outstanding at December 31, 2012 (in shares)	501,468
Granted (in shares)	11,850
Vested (in shares)	(85,378)
Forfeited (in shares)	(17,123)
Outstanding at March 31, 2013 (in shares)	410,817		501,468
Weighted Average Exercise Price [Roll Forward]
Outstanding at December 31, 2012 (in dollars per share)	$ 3.26
Granted (in dollars per share)	1.42
Vested (in dollars per share)	4.99
Forfeited (in dollars per share)	3.70
Outstanding at March 31, 2013 (in dollars per share)	$ 2.82		$ 3.26
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)	86.20%	78.75%
Expected life	6 years 9 months 18 days	6 years
Minimum [Member]
Stock Options, Exercise Price per Share [Roll Forward]
Outstanding at December 31, 2012 (in dollars per share)	$ 1.23
Granted (in dollars per share)	1.31
Forfeited (in dollars per share)	1.82
Outstanding at March 31, 2013 (in dollars per share)	$ 1.23		1.23
Minimum [Member] \| Stock Options [Member]
Assumptions used to determine the fair value of stock options [Abstract]
Expected volatility (in hundredths)	86.16%	77.37%
Risk-free interest rates (in hundredths)	1.16%	1.03%
Maximum [Member]
Stock Options, Exercise Price per Share [Roll Forward]
Outstanding at December 31, 2012 (in dollars per share)	$ 15.54
Granted (in dollars per share)	2.13
Forfeited (in dollars per share)	8.50
Outstanding at March 31, 2013 (in dollars per share)	$ 15.54		$ 15.54
Maximum [Member] \| Stock Options [Member]
Assumptions used to determine the fair value of stock options [Abstract]
Expected volatility (in hundredths)	86.51%	79.24%
Risk-free interest rates (in hundredths)	1.36%	1.49%
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
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
Options granted to employees [Member] \| Stock Options [Member]
Weighted Average Remaining Life [Abstract]
Recognized compensation expense	$ 500	$ 700

Assets and Liabilities Measured at Fair Value (Details) $ in Thousands, shares in Millions	1 Months Ended		3 Months Ended
	May 31, 2012 USD ($) shares	Jun. 30, 2009 USD ($) shares	Mar. 31, 2013 USD ($) Input $ / shares	Mar. 13, 2013 shares
Derivative warrant liability [Abstract]
Number of inputs used for valuation of warrants \| Input			6
Sale of common stock (in shares) \| shares	15.3	0.9
Issuance of warrants to purchase common shares (in shares) \| shares	4.6	1.0
Gross proceeds from issuance of common stock	$ 21,500	$ 3,000
Proceeds from issuance of common stock	21,100	2,700
Pre-tax derivative instrument expense			$ 2,300
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Roll Forward]
Beginning balance as of December 31, 2012			3,427
Total change in the fair value of the liability included in earnings			2,272
Fair value of warrants exercised			(214)
Ending balance as of March 31, 2013			$ 5,485
2009 Warrants [Member]
Derivative warrant liability [Abstract]
Proceeds from issuance of common stock		$ 2,200
Exercise price of warrants (in dollars per share) \| $ / shares			1.20
Warrants outstanding (in shares) \| shares				1.0
Term of warrant		5 years
Expected volatility (in hundredths)			83.43%
Risk-free interest rates (in hundredths)			0.16%
Expected life			1 year 3 months
2012 Warrants [Member]
Derivative warrant liability [Abstract]
Proceeds from issuance of common stock	$ 3,400
Exercise price of warrants (in dollars per share) \| $ / shares			1.20
Warrants outstanding (in shares) \| shares				4.4
Term of warrant	3 years
Expected volatility (in hundredths)			83.33%
Risk-free interest rates (in hundredths)			0.27%
Expected life			2 years 3 months
Recurring [Member] \| Warrant liability [Member]
Liabilities [Abstract]
Total Liabilities			$ 5,485
Recurring [Member] \| Warrant liability [Member] \| Level 1 [Member]
Liabilities [Abstract]
Total Liabilities			0
Recurring [Member] \| Warrant liability [Member] \| Level 2 [Member]
Liabilities [Abstract]
Total Liabilities			0
Recurring [Member] \| Warrant liability [Member] \| Level 3 [Member]
Liabilities [Abstract]
Total Liabilities			5,485
Recurring [Member] \| Money market funds [Member]
Assets [Abstract]
Total Assets			1,956
Recurring [Member] \| Money market funds [Member] \| Level 1 [Member]
Assets [Abstract]
Total Assets			1,956
Recurring [Member] \| Money market funds [Member] \| Level 2 [Member]
Assets [Abstract]
Total Assets			0
Recurring [Member] \| Money market funds [Member] \| Level 3 [Member]
Assets [Abstract]
Total Assets			$ 0

Common Stock (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended		3 Months Ended	12 Months Ended
	May 31, 2012	Jun. 30, 2009	Mar. 31, 2013	Dec. 31, 2012	Mar. 13, 2013
Common stock sold through the program (in shares)	15.3	0.9
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
Common stock, par value under sales agreement (in dollars per share)			$ 0.01	$ 0.01
2012 Warrants [Member]
Proceeds from issuance of common stock			$ 200,000
Warrants issued (in shares)			0.2
Cowen and Company, LLC [Member]
Common stock sold through the program (in shares)			14.2
Proceeds from issuance of common stock			$ 20,900,000
Common stock, par value under sales agreement (in dollars per share)					$ 0.01
Aggregate proceeds from sale of common stock under equity offering program, maximum					$ 50,000,000
Terrapin Opportunity, L.P. [Member]
Amount to be purchased by party under agreement				$ 35,000,000
Term of purchase agreement				24 months
Common stock sold through the program (in shares)			5.6
Gross proceeds from issuance of common stock			$ 9,000,000
Proceeds from issuance of common stock			8,900,000
Amount available under the program, assuming sufficient shares are available to be issued			$ 23,900,000

Net Loss (Details) - shares	3 Months Ended
Net Loss (Details) - shares	Mar. 31, 2013	Mar. 31, 2012
Net Loss [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	11,038,233	7,760,087

- 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)	3 Months Ended
Taxes (Details)	Mar. 31, 2013
IRS [Member]
Income Tax Contingency [Line Items]
Tax year open for examination	December 31, 2009 to December 31, 2012
State Authorities [Member]
Income Tax Contingency [Line Items]
Tax year open for examination	December 31, 2009 to December 31, 2012
Republic of Ireland [Member]
Income Tax Contingency [Line Items]
Tax year open for examination	December 31, 2011 to December 31, 2012