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Fair Value (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of financial assets and liabilities measured on a recurring basis

The fair value of the Company’s financial assets and liabilities that are measured on a recurring basis were determined using the following inputs as of December 31, 2012 (in $000s):

		Level 1				Level 2				Level 3				Total

ASSETS
Cash equivalents		$	5,523			$	6,799			$	—			$	12,322
Financial instrument associated with stock purchase agreement			—				—				—				—
Total assets		$	5,523			$	6,799			$	—			$	12,322

LIABILITIES
Economic rights		$	—			$	—			$	1,120			$	1,120

Other liabilities measured at fair value:
Warrants liability		$	—			$	—			$	—			$	—
Scottish Enterprise agreement			—				—				20				20
Other liabilities measured at fair value			—				—				20				20
Total liabilities		$	—			$	—			$	1,140			$	1,140

The fair value of the Company’s financial assets and liabilities that are measured on a recurring basis were determined using the following inputs as of December 31, 2013 (in $000s):

		Level 1				Level 2				Level 3				Total
		$000				$000				$000				$000
ASSETS
Cash equivalents		$	26,476			$	—			$	—			$	26,476
Financial instrument associated with stock purchase agreement			—				397				—				397
Total assets		$	26,476			$	397			$	—			$	26,873

LIABILITIES
Other liabilities measured at fair value:
Warrants liability		$	—			$	—			$	—			$	—
Scottish Enterprise agreement			—				—				20				20
Other liabilities measured at fair value			—				—				20				20
Total liabilities		$	—			$	—			$	20			$	20

Schedule of reconciliation of the beginning and ending balance of Level 3 inputs

		Level 3

Balance as of December 31, 2012		$	1,140
Change in valuation of Economic Rights			(570	)
Movement of valuation of Economic Rights from Level 3 to Level 2			(550	)
Balance as of December 31, 2013		$	20

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.

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