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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract] |
Summary of Components of Rent Expense | The table below summarizes the components of rent expense for the fiscal year ended December 31, as follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Rent expense |  | $ | 1,844,610 |  |  | $ | 1,955,747 |  |  | $ | 2,612,899 |
Sublease income |  |  | — |  |  |  | — |  |  |  | (53,726 | )
Rent expense, net |  | $ | 1,844,610 |  |  | $ | 1,955,747 |  |  | $ | 2,559,173 |
Future Minimum Payments Under All Leases and Loan Payable | Future minimum payments under all leases and loan payable at December 31, 2015 are as follows:
|  | Loan Payable SVB |  |  | Capital Leases |  |  | Operating Leases |
2016 |  | $ | 1,440,679 |  |  | $ | 20,670 |  |  | $ | 1,968,459 |
2017 |  |  | — |  |  |  | 11,202 |  |  |  | 2,014,706 |
2018 |  |  | — |  |  |  | 4,913 |  |  |  | 2,061,260 |
2019 |  |  | — |  |  |  | — |  |  |  | 2,108,130 |
2020 |  |  | — |  |  |  | — |  |  |  | 2,155,325 |
Thereafter |  |  | — |  |  |  | — |  |  |  | 3,933,455 |
Total minimum lease and loan payments (1) |  |  | 1,440,679 |  |  |  | 36,785 |  |  | $ | 14,241,335 |
Less amounts representing interest |  |  | 18,184 |  |  |  | 875 |  |  |  |  |
Principal amounts of loan payable and capital lease obligations |  |  | 1,422,495 |  |  |  | 35,910 |  |  |  |  |
Less current maturities |  |  | 1,422,495 |  |  |  | 20,032 |  |  |  |  |
Loan payable and capital lease obligations, less current maturities |  | $ | — |  |  | $ | 15,878 |  |  |  |  |
(1) | An aggregate of approximately $9.2 million of principal and accrued interest under the CIRM Loan Agreement is not included. In April 2013, we entered into an agreement with the CIRM under which CIRM would have provided up to approximately $19.3 million as a forgivable loan, in accordance with mutually agreed upon terms and conditions and CIRM regulations. The CIRM loan was to have helped fund preclinical development of our HuCNS-SC cells for Alzheimer’s disease. Between July 2013 and August 2014, we received in aggregate, approximately $9.6 million as disbursements of the loan provided under the CIRM Loan Agreement. However in December 2014, as findings under this pre-clinical study in Alzheimer’s disease did not meet pre-determined criteria for ongoing funding for this program by CIRM, we decided to wind down this pre-clinical study which had been funded in part by the CIRM loan agreement. Under the terms of the CIRM loan agreement, principal amount of approximately $8,917,000 and accrued interest of approximately $243,000 were forgiven. However, authoritative accounting guidance requires certain conditions (which includes a legal release from the creditor) to be met before a liability can be extinguished and derecognized. In February 2015, we repaid CIRM approximately $679,000 of the aggregate loan proceeds received.

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- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 + Details
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- Definition Tabular disclosure of rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717 + Details
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