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Notes Payable
6 Months Ended
Jun. 30, 2013
Notes Payable
Notes Payable
In October 2010, we entered into a loan and security agreement with Oxford Finance LLC, or Oxford. We refer to this loan agreement, as amended from time to time, as the Loan Agreement. Under the Loan Agreement, we had $20.0 million in principal outstanding indebtedness as of June 30, 2013 and December 31, 2012. Interest accrues at a fixed annual rate of 9.25%. The Loan Agreement provides for interest-only payments through December 31, 2013. Beginning on January 1, 2014, payments of principal and interest are payable for 36 months, in arrears. All unpaid principal and accrued and unpaid interest are due and payable on the maturity date, December 1, 2016. As security for our obligations under the Oxford agreement, we granted Oxford a security interest in substantially all of our assets, excluding intellectual property. As of June 30, 2013, the remaining unamortized discount and debt issuance costs associated with the debt were $1.2 million and $142,000, respectively.