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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2013
Fair Value Measurements [Abstract]  
Assets and Liabilities Measured at Fair Value
The following table provides a summary of the recognized assets and liabilities that we measure at fair value on a recurring basis:
 
 
 
Balance as of
  
Basis of Fair Value Measurements
 
 
 
December 31, 2013
  
Level 1
  
Level 2
  
Level 3
 
Assets:
 
  
  
  
 
Cash equivalents
 
$
4,644,000
  
$
4,644,000
  
$
—
  
$
—
 
 
 
 
Balance as of
  
Basis of Fair Value Measurements
 
 
 
December 31, 2012
  
Level 1
  
Level 2
  
Level 3
 
Assets:
                
Cash equivalents
 
$
6,145,000
  
$
6,145,000
  
$
—
  
$
—
 
 
                
Liabilities:
                
Put option liability
 
$
(2,250,000
)
 
$
—
  
$
—
  
$
(2,250,000
)
Warrant liability
 
$
(418,000
)
 
$
—
  
$
—
  
$
(418,000
)
Level 3 Put Option Liability
The following table summarizes the change in our Level 3 put option liability value:

 
 
Year ended
  
Year ended
 
Put option liability
 
December 31, 2013
  
December 31, 2012
 
 
 
  
 
Beginning balance
 
$
(2,250,000
)
 
$
(1,910,000
)
Decrease (increase)  in fair value recognized in operating expenses
  
2,250,000
   
(340,000
)
Ending balance
 
$
—
  
$
(2,250,000
)


The following table summarizes the change in our Level 3 warrant liability value:

 
 
Year ended
  
Year ended
 
Warrant liability
 
December 31, 2013
  
December 31, 2012
 
 
 
  
 
Beginning balance
 
$
(418,000
)
 
$
(627,000
)
Decrease (increase)  in fair value recognized in operating expenses
  
418,000
   
209,000
 
Ending balance
 
$
—
  
$
(418,000
)