Financing Arrangements

6 Months Ended

Jun. 30, 2014

The Company has a secured term loan credit facility ("secured debt"). Under the terms of the secured debt, the Company made interest-only payments through February 2013. Subsequent to the interest-only payments, the note amortized with principal and interest payments through the remaining term of the loan. Additionally, the Company made an additional final payment equal to 6% of the total amount borrowed which was due at maturity and was accreted over the life of the loan. The maturity date of the loan was August 1, 2014, and the Company fully repaid the loan as of July 31, 2014.

In March 2013, the Company prepaid $7.0 million of the secured term loan credit facility. Additionally, the Company paid a prepayment fee of 1% of the prepayment amount, or $0.1 million and a prorated final-payment fee of 6% of the final payment, or $0.4 million.

The carrying values and the fixed contractual coupon rates of the Company's financing arrangements as of June 30, 2014 and December 31, 2013 were as follows (in thousands):



	June 30, 2014		December 31, 2013
Convertible notes payable, Viking Therapeutics, Inc.	$	345	$	—
Current portion notes payable, 8.64%, due August 1, 2014	1,716		6,642
Current portion notes payable, 8.9012%, due August 1, 2014	637		2,467
Total current portion of notes payable	$	2,698	$	9,109

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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